<a href="https://www.apartments.com.au/developments/collingwood-vic-3066">Collingwood</a>’s northern edge continues to sharpen its reputation as one of Melbourne’s most compelling cultural precincts, where established creative institutions, leading hospitality, and independent fashion converge within a tightly held inner-city neighbourhood.

Set within this evolving pocket, <a href="https://www.apartments.com.au/new-apartments/derby-street-by-milieu-collingwood-4-derby-street-collingwood-vic-3066">Derby Street by Milieu</a> draws on a location that balances proximity to some of the inner north’s most influential destinations with the quieter, tree-lined character that defines the streets edging East Melbourne. Positioned just moments from both Smith and Gertrude Streets, the address sits on the periphery of Collingwood’s cultural core, offering immediate access without the intensity of its busiest frontages.&nbsp;

[smartcode_project:default project_id=145576 project_image_fid=355945]

Gertrude Street, in particular, anchors the area’s identity as a destination for Melbourne’s leading food, art and fashion. Within a short walk, venues such as Marion, Cutler &amp; Co, IDES and the Builders Arms Hotel define a tightly curated dining scene with enduring citywide appeal, complemented by a strong fashion and retail presence including Havn, Le Labo and a selection of independent boutiques.

Nearby, institutions such as the Australian Print Workshop and Collingwood Yards sustain a constant rhythm of exhibitions, performances and creative output, embedding art and culture into the everyday fabric of the neighbourhood.

Smith Street, running parallel, extends this offering with a broader mix of hospitality and nightlife, maintaining its status as one of Melbourne’s most active inner-urban strips.

Beyond these high-energy streets, the immediate surrounds shift in tone. Derby Street and its neighbouring blocks are defined by low-rise heritage terraces, mature trees and a settled residential character. Fitzroy Gardens and Carlton Gardens are both within walking distance, alongside the Royal Exhibition Building and Melbourne Museum, bringing together green space and cultural landmarks within minutes of home.

[smartcode_project:default project_id=145576 project_image_fid=355985]

Connectivity remains a key advantage. The CBD sits within easy reach, accessible by tram along Smith Street in around 20 minutes, while also remaining close enough to walk or cycle, supported by the inner north’s established bike network.&nbsp;

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s long-standing connection to Collingwood underpins the project’s approach. With a portfolio that includes multiple nearby developments across Bedford, Peel and Napier Streets, the developer brings a sustained understanding of the area’s character and evolution. Derby Street continues this trajectory as a collaboration with award-winning Melbourne-based <a href="https://www.apartments.com.au/architects/studio-bright">Studio Bright</a>, marking the practice’s first multi-residential project in the inner north and reflecting a shared focus on design integrity and contextual response.&nbsp;

Balancing connection to the neighbourhood with a sense of seclusion and refuge, Derby Street by Milieu embodies a level of care and craft typically reserved for single residential projects. Comprising 22 residences across six storeys, with two to four-bedroom configurations priced from $1.15 million, the project is currently under construction with completion expected in late 2027.&nbsp;

[smartcode_project_cta:default project_id=145576]

Joel Robinson

Derby Street by Milieu, at the top end of Collingwood

A rare new apartment development in the Blue Mountains is the latest in a string of State Significant Development Applications submitted through the New South Wales Government's Housing Delivery Authority.

A total of 270 apartments are being proposed for the 1.16-hectare site at <a href="https://www.apartments.com.au/new-apartments/blue-mountains-alpine-retreat-142-150-narrow-neck-road-katoomba-nsw-2780">142–150 Narrow Neck Road in Katoomba</a>, a parcel of land adjoining the former Katoomba Golf Course. The site was acquired for $3.85 million in 2021 by private developer VDM Prime.

The apartments, comprising a mix of serviced apartments, affordable housing, and traditional build-to-sell product, will be spread across eight low-rise buildings, along with a separate building for a new restaurant, arranged around a green spine that leads to a central park.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="ee9a2072-f465-44f1-9076-80c9c8ecca02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.20.21%E2%80%AFAM.png?VersionId=4bT0vQ7j_syl65wcrJmHGm3m5pTvwrY_" />

The Urban Design Report by Atlas Urban says the vision is to create a "contemporary mountain precinct that is responsive to its escarpment landscape, heritage character, and community context."

"The development responds to the current housing supply and affordability challenges identified under the NSW Housing Delivery Authority (HDA), providing a balanced mix of standard, affordable, and short-stay accommodation," the report noted.

"By introducing a variety of dwelling types and tenures, the proposal supports intergenerational living, local workforce retention, and greater housing choice within an area constrained by topography, heritage, and environmental protections."

Of the 270 units proposed, 52 will be serviced apartments. The remainder will comprise 54 studios, 121 one-bedroom units, 39 two-bedroom apartments, and four three- to four-bedroom residences.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="f704508d-1bdf-4170-955d-0256652402a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.56.49%E2%80%AFAM.png?VersionId=TzarHMO4gTOsblCqsbJQkvMqWj9nu2Au" />

The Design Report, by VDM Prime and appointed architect Antoniades Architects, noted that the design seeks to "provide a built form outcome that is highly considered, respectful and contextually fitting, whilst contributing positively to an evolving precinct."

"The site offers three frontages and the opportunity to provide a meaningful interface with the public domain environment. the design has a sympathetic response to streetscape and the green open space that surrounds the site."

The report states that the buildings are broken up to establish an appropriate bulk and scale, emphasised through height and setback strategies and defined through articulation that supports the transition of precinct granularity. It also notes that a central communal open space is established through the site to enhance the social dynamic and access to amenity, including natural ventilation and light to the apartments. The east and west frontages receive solar access during the morning and afternoon, whilst maximising views to the green open space.

The site adjoins the recently completed Yarrabee Katoomba development, comprising 24 duplexes that were completed last year and sold through McGrath Projects.

The relatively new Housing Delivery Authority pathway established by the NSW Government allows developers to submit State Significant Development Applications through a fast-tracked state process, effectively reducing reliance on local council approval pathways and aiming to accelerate housing delivery across New South Wales.

First look: Nearly 300 apartments pitched on former Katoomba golf course site

In Melbourne’s established inner east, the qualities that define a traditional house, width, height, and access to open ground, are increasingly difficult to replicate in new residential developments. Larger landholdings are scarce, and with them, the ability to create apartments that extend beyond compact, internalised layouts.&nbsp;

In <a href="https://www.apartments.com.au/developments/kew-vic-3101">Kew</a>, where the residential fabric is shaped by generous setbacks and mature tree canopies, that tension is especially visible.

<a href="https://www.apartments.com.au/developers/ricdanic-investments-pty-ltd">Ricdanic</a>&nbsp;is bringing forward a boutique collection of just 13 residences across two buildings at 9–11 Wimba Avenue, Kew. Comprising six homes at No.9 and seven at No.11, the project sits on a quiet, tree-lined street just off Cotham Road.&nbsp;

Each apartment has been planned with a level of independence more commonly associated with standalone dwellings, balancing privacy with the efficiencies of apartment living.

Architect Chris Idle, who has been practising for over two decades, says projects like this don’t come along often.

“There are very few opportunities to do these kinds of developments in leafy, established suburbs,” he explains. “To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare.”

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The internal planning begins with width. Living areas extend beyond five metres, allowing furniture, circulation, and glazing to sit comfortably within the same zone without compression. Ceiling heights shift from three metres through to five metres in select areas, changing the sense of scale as you move through the apartment. These proportions are paired with double-glazed windows and fully electric systems, balancing volume with performance, supported by a 7.2 NatHERS energy rating.&nbsp;

From the main living space, the apartments open directly outward. Large sliding doors connect to private gardens averaging 125 square metres, with some residences also incorporating balconies of around 60 square metres. Rather than acting as secondary outdoor zones, these areas sit flush with the internal floor level, extending the usable footprint of the home and allowing for multiple modes of use, whether for quiet daily routines or larger gatherings.&nbsp;

The landscape, led by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>, reinforces this relationship. Across the site, 23 different plant species have been introduced, including a mix of native and established varieties, arranged to maintain privacy while preserving sightlines and light access. Gardens are not treated as decorative buffers but as functional extensions of the apartments, shaped to accommodate movement, seating, and informal use over time.&nbsp;

[smartcode_project:default project_id=140755 project_image_fid=366265]

Architecturally, the project draws from Kew’s historic residential language. Handmade bricks by Krause define the exterior, grounding the buildings within the material palette of the suburb, while interior finishes, stone, timber flooring, and restrained detailing, continue this approach internally. Architect Chris Idle describes the intent as long-term rather than stylistic: “We wanted it to feel timeless.”&nbsp;

This emphasis on durability extends to how the buildings are accessed and secured. Entry is managed through keyless systems, with a double-gated basement incorporating number plate recognition for vehicle access. Each residence is paired with a private lock-up garage accommodating two to three cars, alongside storage, while all entry points are monitored continuously. These measures sit alongside EV readiness and fully electric infrastructure, aligning the project’s operational systems with its long-term design outlook.&nbsp;

The setting remains central to how the development is experienced. Located within walking distance of Kew Junction and close to established schools including Carey Grammar and Xavier College, the address benefits from existing infrastructure while maintaining a residential quietness that is increasingly difficult to find at this scale.&nbsp;

Construction is being delivered by <a href="https://www.apartments.com.au/builders/sinjen">Sinjen</a>, with a 10-year structural guarantee, with completion targeted for mid-2027.

[smartcode_project_cta:default project_id=140755]

Inside Wimba Ave, Kew’s garden-scale residences designed for space and permanence

High-end Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured approval for one of its latest Mosman projects, one of the first developments approved by Mosman Council under the NSW Government’s Low and Mid-Rise Housing Policy.

The approval represents an important step in delivering well-considered housing next to established village locations on Sydney’s Lower North Shore, in line with the intent of the Low and Mid-Rise zoning framework. 
&nbsp; 
There are currently 13 other sites lodged within Mosman Council under the policy, with <a href="https://www.apartments.com.au/new-apartments/27-29-heydon-street-mosman-nsw-2088">Heydon Street</a> among the first to receive development consent. 
&nbsp; 
Abadeen Founder and Executive Chairman Justin Brown said the project reflects a considered and appropriate response to its planning context. 
&nbsp; 
“This approval demonstrates how carefully considered, design-led development can align with the objectives of the Low and Mid-Rise Housing Policy," Brown said.

"The scheme has been designed to respond sensitively to its village setting, with a built form, scale and level of amenity appropriate to its local context. The determination reflects a balanced and considered planning outcome, with Council recognising the capacity for this site to accommodate additional housing within a well-located and established precinct.”

<img alt="Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman" data-entity-type="file" data-entity-uuid="92811ce3-02e8-44fc-996e-c61ae039bd3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Heydon%20Street%20Aerial.jpg?VersionId=ZHJVuWQT64QcdrFJx963pFWFzTX7lI2I" />

The Heydon Street approval followed extensive consultation with Mosman Council, with Abadeen working closely with Council throughout the assessment process.

The approved scheme comprises 27 residences, with only four per floor, creating a low-density living environment. The building will include four half-floor penthouses designed to capture views across Middle Harbour, Sydney Harbour and the surrounding district.&nbsp;

The project is expected to appeal to downsizers and owner-occupiers seeking house-like proportions, privacy and local convenience. There will be north-facing Middle Harbour views from the second level upward. It is also just a flat 100-metre walk to Bridgepoint Shopping Centre, which will appeal to owner-occupiers and in particular downsizers.

Two-bedroom residences are expected to be priced from $1.99 million when sales launch later this year. 
&nbsp; 
Joe Tack, CEO at Abadeen, said the outcome reflects both the quality of the site and the broader need for well-located housing. 
&nbsp; 
“This is a highly considered site within a highly established local setting, offering elevated views and strong connectivity. The project has been designed to respond to that context, delivering a scale and quality of housing aligned with both the planning framework and evolving market demand.” 
&nbsp; 
“This approval is particularly significant in the context of Mosman, where new housing supply has historically been limited. While it represents the first approval of this scale in Mosman to be achieved in over 50 years, it is importantly located within a well-established residential location, in close proximity to the established commercial amenity of Spit Road and Mosman Village. It reflects strong confidence in Abadeen’s approach to design, delivery and community integration, while contributing to the delivery of much-needed housing in a highly constrained market.”

Abadeen has an established track record across Sydney’s Lower North Shore, with recent completions including KOYO in Crows Nest and ENSO in Neutral Bay.

In Mosman, Abadeen recently completed The Hampden, with Mosman Residences on the corner of Spit Road and Clifford Street scheduled for completion later this year. Construction has also commenced at Burran Residences, comprising three full-floor ultra-premium homes positioned just 50 metres from Balmoral Beach, with residences expected to achieve prices in excess of $20 million. Two further projects are also progressing through planning within the local government area.

Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman apartment development

Apartment developer <a href="https://www.apartments.com.au/developers/martello">Martello™</a> is one of the latest entrants to the Gold Coast development market, with its debut project set to be one of the most boutique offerings on Chevron Island in recent years.

Martello has unveiled <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-chevron-island-qld-4217">Aere Chevron Island</a>, a collection of 33 large-scale two-, three-, and four-bedroom apartments across an 18-storey building on Mawarra Street.

[smartcode_project:default project_id=143932 project_image_fid=367517]

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project. It is a direction <a href="https://www.apartments.com.au/developers/martello">Martello™</a> plans to carry through its future developments along the coast.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a> has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning. Promax Construction has already been appointed to deliver the project, with construction expected to commence in the coming months as part of the group’s broader expansion into South East Queensland.

Rising above the low-rise fabric of Chevron Island, Aere’s design emphasises generous internal proportions and uninterrupted outlooks, with residences oriented to capture coastal, skyline, and waterway views. Interiors prioritise open-plan living, with large-format glazing and carefully considered transitions between indoor and outdoor spaces.

[smartcode_project:default project_id=143932 project_image_fid=367508]

The upper levels are dedicated to larger-format homes, including four-bedroom residences designed as half-floor offerings. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

The inclusion of both social and quieter retreat spaces reflects a broader shift in higher-end apartment design on the Gold Coast, where developers are increasingly responding to owner-occupier demand for buildings that support long-term living rather than short-stay use.

[smartcode_project:default project_id=143932 project_image_fid=367814]

Aere is positioned within walking distance of Chevron Island’s village centre along Thomas Drive, as well as the HOTA cultural precinct via the Green Bridge, connecting residents to parklands, galleries, and event spaces.

For <a href="https://www.apartments.com.au/developers/martello">Martello™</a>, Aere represents the first in a series of planned Gold Coast developments, with the group also exploring opportunities in other coastal precincts, including Kirra and Palm Beach.

The move north comes as sustained population growth and infrastructure investment continue to reshape South East Queensland, with developers increasingly targeting boutique, design-led projects in established lifestyle pockets. Aere’s relatively small scale and emphasis on spatial quality position it within this emerging segment of the market.

[smartcode_project_cta:default project_id=143932]

Martello™ enters Gold Coast market with wellness-led Chevron Island development Aere

Property Disruptor

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The Agency is seeking shareholder approval to pay fees owed to its consultants, including its external PR firm, by issuing further equity in the cash-strapped publicly listed company. 
The Agency - whose backdoor listing began as the Namibian Cooper mining company from the west - seeks to pay over $700,000 in fees owed to consultants.
The proposed fees-to-equity conversion will be put to shareholders at a September 23 meeting.
It follows a $5.6 million equity raising in July along with an agreement with some creditors to convert $5.8 million in debt to new equity.
The Agency seeks approval to pay its Perth-based public relations firm Chapter One Advisors through shares, covering a near $50,000 media relations bill.
The proposal is to issue up to 769,231 shares to Assert Corporate &amp; Investor Relations Pty Ltd Trading as “Chapter One Advisors."
Chapter One Advisors managing director David Tasker, The Agency's media spokesman, told The Australian Financial Review it was "reasonably common" for suppliers to take payment through equity in the company.
He said it was a sign these suppliers wanted to back the company and ultimately believed the share price would go up in the long term.
The Agency also seeks to pay about $16,000 to consultant Robert Brierley; $65,000 to solicitor Torq Murray and $100,000 to Sydney-based corporate advisory firm Transocean Group. 
<img src="https://www.urban.com.au/images/2019/9/3/Shares%20-%20The%20Agency%202.JPG" alt=""> 
It is proposed 11 million new shares will be issued at 6.5¢ for these consultants, just above the last closing price of 6.4¢.
The proposed fees-to-equity conversion is among 24 resolutions that will be put to shareholders to assist the agency gets through its cash-strapped expansionary phase that comes soon after its listing and rapid expansion strategy.
The issuance of new options are also proposed:
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Shares in the The Agency have fallen since peaking at 31.9¢ in September last year following a share consolidation.
The group has a market cap of just  under $8 million. 
The proposed fees-to-equity conversion is among the 24 resolutions to be put to shareholders at a general meeting on September 23.
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Yesterday The Agency reported a <a href="/news/the-agency-reports-bigger-loss-and-announces-2-8-million-cost-cutting">loss for the financial year and announced $2.8 million worth of cost cutting measures</a>.
The accounts were unaudited.
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jchancellor-FAypfDUnLy

The Agency shareholders asked to issue shares to pay $50,000 PR fees

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University of Sydney Business School associate professor Jamie Alcock said it was unfortunate Purplebricks had folded in Australia.
“I don’t think it was bound to fail, it was a market ripe for disruption,” Mr Alcock told Domain.
 “The [real estate agent] commissions in Australia are very high by international standards.
“There is a lot of money to be made. 
"It’s not a hugely complex task to sell residential property; a lot of it could theoretically be disrupted through some technological revolution or a new business model.
“When you see large fees and there are no huge technical skills or qualifications required, it’s disruptable.”
The DIY selling platform, forsalebyowner.com.au has offered to hire all 105 Purplebricks agents and migrate their 1400 listings to its online platform for free, after the British-based firm announced its intention to exit Australia this week.
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j.ballantyne1990-6AQqhLzZaK

Australian real estate maket ripe for disruption: Sydney University professor

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The Top Level acquisition by The Agency, a real estate agency from the West, won't now take place until 2019.
The latest update in the long running saga came Friday when The Agency Group Australia advised shareholders that the settlement date to buy the Bondi Beach-based McGrath Rebels has been extended to 11 January 2019.
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The company will also be extending the closing date of the offer under the prospectus dated 20 November, issue date of securities under the prospectus, settlement of the acquisition of all of the shares on issue in Top Level Real Estate Pty Ltd and closing date of the cleansing offer under the prospectus to be amended to 4 January 2019.
It is two years ago that Top Level was launched with the backing of mortgage broker John Kolena, and Ausnet, a then little-known real estate practice out of Perth since 2006 called The Agency which offer a range of Ausnet financial services.
Top Level has been operating under licence to The Agency Group during the extended delayed period while under offer.
Ausnet came to list on the Australian Securities Exchange via the ASX-listed Namibian Copper Limited, a base metals exploration company previously focusing on Namibia, Africa. 
The Agency, formerly Namibian Cooper/Ausnet, is now trading at 1 cent. 
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The Agency Group Australia also advised shareholders that the ASX had granted the company a waiver from ASX Listing Rule 14.7 to the extent necessary to permit the company to issue 6,160,000 shares to John Kolenda, up to 10,000,000 shares to John Kolenda, 833,333 shares to Paul Niardone and 333,333 options exercisable at $0.30 on or before that date which is 3 years from the date of issue to Adam Davey as approved by the company’s shareholders at the general meeting held in November 2018.
 
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McGrath Rebels acquisition by The Agency pushed back into 2019

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Property Connect CEO Darren Patterson has said property in Australia is "right for disruption" in an interview on the Finance News Network earlier this month.
Patterson was talking about LiveOffer, the technology which allows potential tenants to make an online offer on a rental property.
Property Connect are also moving into doing online auctions for property sales, as well as planning to add a mortgage origination service.
Patterson told <a href="https://www.finnewsnetwork.com.au/" target="_blank">Finance News Network</a>'s Rachael Jones that property technology is very fragmented in Australia and other markets.
"We believe we’ve got the solution that can add value and we can extrapolate from," Patterson said.
"The market is controlled by agents that operate in a franchise model. The two dominant portals take a lot of value out of that chain. And we believe that marketplaces that provide transparency, real time transactional services, will provide value for landlords, renters, vendors and purchasers in that space.
"We believe that marketplaces that provide transparency, real time transactional services, will provide value for landlords, renters, vendors and purchasers in that space."
Patterson said much of the technology is built, but hasn't been implemented for all property types.
"We’re ahead of plan, we recently did a placement, our technology platform on the rental side is built. The auction piece we just recently announced is ahead of plan as well, we’re now in licensing and commercialisation phase," Patterson advised.
The new online rental auction platform is designed to provide transparency and a seamless process, for both the landlord, the tenant and the property manager.
"The tenant, or prospective tenant, can actually control their move-in day, the term of the lease and the amount they want to offer per week," Patterson suggested.
"Sometimes you see tenants turn up to highly sought after properties and there maybe 10/15 people. This gives them a full view and transparency as to where their offer is, in the market. And it allows the property manager to effectively communicate with the landlord, and decide who’s the optimum tenant for the property."
Patterson said they're about to move into providing construction development finance and residential mortgages, something he says they believe will help facilitate the entire property transaction.
Property Connect are targeting the transient markets where renters move between states frequently.
"We see that emerging in Australia, particularly as developers look to build, to let and develop property funds.
"We see that in high-density areas like Hong Kong, Singapore and the Middle East. And we’re rolling out a lightweight sales model, which is focused around licensing in those markets with partners."
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Property Connect Holdings CEO explains why LiveOffer is going to make waves

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LJ Hooker’s intended DIY property selling platform Settl, while launching the 88-year-old company into a new tech era, is already having a disruptive internal impact before it starts, with fears there will be undercutting of the commissions of its loyal sales agents.
The yet to be launched online <a href="https://settl.com.au" target="_blank">Settl </a>platform, which had been timed to commence in the second quarter of 2017, but seems delayed, or even on the back burner, will encourage vendors to sell their homes by themselves for a low fixed fee, in an response to property disruptors such as Purplebricks and buyMyplace.com.au.
Property Observer gleans it will on launch adopt the logo "Pay less, Settle for more."
Purplebricks, buyMyplace and forsalebyowner are all slowly growing their share of the Australian property market due to their low-cost, fixed-fee model.
Settl will include the pricing option of assistance of a Settl estate agent if the vendor wishes to have assistance with open-for-inspections and auctions. 
LJ Hooker’s Settl will be run as a stand-alone entity although seemingly directed by the network's current leadership team who have faced franchisees who've threatened to depart.
Settl has been in research and development by LJX-Lab for the past 20 months.
Settl is led by an expert tech-startup team including players from pioneering tech-giants Uber, Atlassian, Freelancer and Airtasker.
Headhunters Mitchelake have closed applications to find its chief executive who has been tasked with leading "an aggressive business/market development strategy in Australia."
A landing page, while unconfirmed, suggests it is a "smart, nimbler real estate service."
The hybrid model will be scaled up in partnership with LJ Hooker’s own network to cater to the new consumer.
Settl is part of LJ Hooker’s $100 million digital transformation. 
The real estate agency, founded by Sir Leslie Hooker in 1928 and still part owned by grandson Janusz Hooker, is in the midst of a transformation. Earlier this year LJ Hooker's CEO Grant Harrod unexpectedly resigned after the company scrapped plans to list on the ASX.
The most recent development has been that of former Aussie Home Loans CEO Stephen Porges joining in an advisory role, although market chatter points to him becoming the next chief executive following the departure of Harrod.
Earlier this year, LJ Hooker scrapped its IPO as real estate franchise businesses came under pressure from a deterioration in property listings and the threat of technologies.
Chairman Janusz Hooker has likened the launch of Settl to when Qantas created low-cost carrier Jetstar to service a different market segment.
"These will be two brands – LJ Hooker and Settl – serving two distinct customers," Hooker told The Australian Financial Review recently.
Hooker said Settl would cater to the needs of millennials and "digital natives" who wanted to "pay less and do more themselves".
But the traditional, commission-based model is not going anywhere, he stressed. Usually, commissions vary from 1.5 percent to 2.5 percent of the selling price.
"Part of the market still wants to fly Qantas, but there's a new market that wants to fly Jetstar. We're creating a new market – it's not a zero sum game. The launch of hybrid real estate businesses has increased the size of the market," he said.
Pricing for Settl has not yet been revealed, but is expected to be competitive compared with other DIY platforms.
L Janusz Hooker said Australia is on the cusp of a wave of property innovation.
“We have been closely monitoring global trends for several years, and have seen new models gain momentum in overseas markets like the UK.
"Settl will open up this new market in Australia, giving digital-natives the choice and control they want,” he said. 
"In Australia, this segment is estimated to only be a few percent of today’s market, however it could grow up to 10 percent by 2025."
Mr Hooker commented that Australia was a unique market with its own distinct circumstances - "and we’ve seen time and time again that standardised overseas models are not overly successful here." 
“We see the ongoing human value added from agents a critical part of real estate services into the future. To ensure customer satisfaction, Settl’s unique hybrid “online to offline” model aligns the agent 100 percent with the vendor’s result.”
Josh Rowe, CEO of property price prediction app realAs.com, has welcomed the new LJ Hooker venture.
"A company that is not prepared to cannibalise their own business to meet customers' changing needs will eventually fail," Rowe told the AFR.
"Netflix was originally a DVD mail order business with 20 million users at its peak. Now as a streaming service it has 99 million users," he said.
"Perhaps LJ Hooker is the Netflix of real estate in Australia."
Graeme Hyde and Bryan Weir are heading the venture, with oversight by Esther Selvanayagam, the financial chief since February 2017. 
Hyde is the exisiting network chief having joined the real estate industry in 1995 after 15 years in television and radio. He joined the LJ Hooker network in 2001 when he took over the LJ Hooker office in Port Macquarie and was inducted into the Captains Club in his second year with the network and Multimillion Dollar Chapter in his third year. 
Bryan Weir joined the board of LJ Hooker in 2014 after 35 years of corporate and business experience including time at Freeholds and Macquarie Bank.
Weir is keenly involved in the sport of rowing, being the President of Mosman Rowing Club from 2004 until 2009.
Earlier this month they watched as their Mosman-based LJ Hooker Lower North Shore group joined the Ray White network in a shock defection.
LJ Hooker Lower North Shore has been operating for 60 years and employs more than 50 people.
It has been run by the same directors for the last 20 years.
LJ Hooker Lower North Shore directors Richard Harding, Geoff Smith and Bernard Ryan are to undertake the re-brand, seeing the potential for expansion across the region from their already large footprint. Since Property Observer previously reported LJ Hooker agents jumping ship to Ray White, LJH has advertised in print publications for their replacement.
Agents across the group and industry have expressed concern at the LJH Settl initiative saying "flat fees aren't the answer."
"We have an over supply of agents, and the value is being lost as a seller when agents operate just as a tour guide at the opens.
"Agents should be looked at as an investment in the sale," one agent said adding Settl "just creates more opportunity for crappy agents."
 
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