<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Propertymarket

<html><body>
Most people don’t let the facts get in the way of an entrenched attitude.
For six months or more, I’ve been getting blank stares or responses like “Seriously?” whenever I suggest to investors they should be considering Hobart and Tasmania.
It’s really easy to get a bad reputation and extremely hard to lose it. Tasmania has the image of a basket base economy. A state that’s losing population. A property market bereft of growth.
For many years, all of that has been true. It’s true no longer.
But most people won’t be convinced until they read there’s a boom on. And by then it will be too late to buy well.
Perhaps it is already. According to the latest House Price Report from Domain, Hobart median prices rose 8.7% for houses and 7.1% for apartments in 2015. The apartment result is the second best among the capital cities, after Sydney.
Other research sources have smaller growth numbers for Hobart but there’s no doubt that this market is moving. Throughout 2015, sales activity rose. Each quarter of the year recorded more sales than the same period the year before. Inevitably that translates into price growth.
Why is this happening? Because the Tasmanian economy is mounting a strong recovery. I’ve been recording this over the past six months or so, as an increasing number of surveys and reports by major organisations like ANZ Bank, NAB and others have recorded increasingly positive outlooks for the state economy.
Here are a few of them:
<ul>
<li>The NAB business survey for August 2015 showed business confidence in Tasmania at plus 12 — three times higher than the next best states, NSW and Queensland. Chamber of Commerce CEO Michael Bailey said at the time this was further proof that Tasmania’s economy was looking up. “There’s a feeling Tasmania is a very exciting place to be right now,” he said.</li>
</ul>
<ul>
<li>MyState’s quarterly report showed a rebound in economic indicators for Tasmania. MyState’s David Harradine said Tasmania was no longer the softest state economy on several indicators. “The lower Australian dollar, plus low interest rates, are providing an important tailwind,” he says. “This will continue to present opportunities for improvements ... The lower dollar is positive for the tourism, agriculture and manufacturing sectors which together represent a significant portion of overall activity and jobs.”</li>
</ul>
<ul>
<li>A Sensis survey found that Tasmania leads the nation in business confidence and its State Government is the most popular among small businesses. “Businesses see the Government as supportive and interested in small business and believe it is working to reduce bureaucracy,” Sensis CEO John Allan said. The Sensis Business Index showed business confidence has tripled in the state, rising 46 points to +64 and is now 25 points above the national average. Hobart was the most confident capital city, followed by Sydney and Brisbane, while confidence in regional Tasmania was up 52 points to +60, which ws the highest regional score in the nation.</li>
</ul>
<ul>
<li>A Deloitte Access Economics Business Outlook report described the Tasmanian economy as “well and truly on the rise”.</li>
<li>Tasmanian Chamber of Commerce CEO Michael Bailey said the effect of Australia’s post-mining boom slump on interest and exchange rates was breathing life into Tasmania’s tourism, manufacturing, forestry, building and overseas student industries. “We are seeing phenomenal opportunities, particularly for Tasmania’s agricultural and aquaculture industries,” he said.</li>
</ul>
<ul>
<li>State Treasurer Peter Gutwein said the State Government was working to grow the economy with its $315 million jobs package and $1.8 billion infrastructure program.</li>
</ul>
<ul>
<li>The quarterly ANZ/Property Council survey said Tasmania is about to experience a surge in foreign investment. It forecast that foreign investors would be responsible for 14% of residential purchases in Tasmania in the March 2016 Quarter, compared to 4% or below throughout the quarters of 2015. 
</li>
</ul>
The situation in Tasmania right now feels a little bit like 2003. Back then, after prices had surged in mainland cities like Melbourne, investors looked across Bass Strait, noticed how cheap everything was and generated a price boom.
Hobart currently has a median dwelling price around $330,000, compared to $600,000 in Melbourne and $775,000 in Sydney.
Cheap real estate, a market with rising momentum, underpinned by a strongly moving economy - it’s a package worth considering.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

Tasmanian property market worth considering: Terry Ryder

<html><body>
Newcastle has seen property boom over the past three years and valuers Herron Todd White (HTW) noted the figures show it has been the fastest growing regional city for the past two years.
Once perceived as a gritty and undesirable industrial town dominated by BHP and coal, Newcastle has transformed into a desirable coastal regional city, thanks in part to some major urban renewal projects, the valuation firm suggest.
Traditionally, the Newcastle property market has been dictated by the Sydney market due to its close proximity.
Newcastle’s average house prices are still under half that of Sydney, attracting a large number of investors looking for an affordable alternative close by.
However, there are a few factors at play to suggest that while the Sydney market obviously has a strong influence, it is not the only measure influencing the local market.
Newcastle still has its industrial roots and with the Hunter Valley coal mines on the doorstep, the city is the largest coal exporting port in the world.
During the global financial crisis of 2008, while the major cities saw property values suffer negative movement, Newcastle and the Hunter Valley property prices were experiencing the effects of one of the biggest mining booms in history, avoiding any negative movement.
Perhaps the biggest influencer in the current Newcastle market is the amount of urban development occurring in the city. With a $90 million refurbishment of the city’s largest shopping centre along with the largest infrastructure development the city has undertaken in decades, Newcastle is fast losing its industrial stigma and becoming a desirable and affordable sea change destination.
A Newcastle inner city one bedroom apartment has been recently sold for $548,000 (pictured below).
Situated within the Tattersalls building,<a href="https://www.realestate.com.au/sold/property-apartment-nsw-newcastle-127767894" target="_blank"> the 603/9 Watt Street apartment</a> comes with main bedroom with walk-in robe, balcony with views of Newcastle's working harbour, and secure car space.
It is within close proximity of Hunter Street mall, the harbour foreshore as well as Newcastle's pristine beaches.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/11/watt%20st%20.jpg" alt="">
Another new offering is a King Street five bedroom house with the price guide of $1.5 million (pictured below).
<a href="https://www.realestate.com.au/property-house-nsw-newcastle-127900482" target="_blank">The 81 King Street house</a> is proportioned over three levels with a generally north facing aspect.
It comprises a self contained (top two levels) three bedroom, with a large living room, older kitchen and bathroom and harbour "snippets".
Ground floor features a self contained two bedroom and sunroom flat with an older kitchen and bathroom and large open plan living room.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/11/king%20st.jpg" alt="">
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Newcastle houses going for half Sydney prices: HTW

<html><body>
Sydney’s fast-paced property market is pricing the city’s key workers out of metropolitan areas, threatening the viability of the key services they provide to our city.
This was the finding of a wide-ranging study, Key Worker Housing Affordability in Sydney, commissioned by member-owned Teachers Mutual Bank, Firefighters Mutual Bank and Police Bank, and undertaken by the University of Sydney’s Urban Housing Lab led by Professor Nicole Gurran and Professor Peter Phibbs.  
The report detailed declining levels of housing affordability across greater and metropolitan Sydney for key workers - including teachers, firefighters, nurses, police, ambulance drivers and paramedics.
The report identifies five key priorities for policy makers and private sector stakeholders to consider, which include:  
<ul>
<li>Reducing the deposit gap: Proposes a shared equity model allowing key workers to buy up to 75 percent of the property’s value, reducing deposit requirements to between five and 10 percent. </li>
<li>Securing alternative development and financing models: Proposes ‘deliberative development’ models, an alternative to conventional multi-unit development models which could achieve prices which are 10-12 percent lower than the current market.</li>
<li>Establishing alternative tenure arrangements (Community Land Trust or ‘CLT’ model): Proposes that homes are purchased with a conventional mortgage and/or the land component is rented at a marginal rate e.g. two percent of ‘unimproved’ capital value. A CLT model in NSW could reduce purchase costs by 25 percent.</li>
<li>Reducing development and or construction costs and passing savings on to eligible purchasers: Smarter designs, construction material and processes could reduce costs by 25-35 percent, equating to savings of $75,000 to $100,000 for 2-3-bedroom units or townhouses.</li>
<li>Reducing land costs (inclusionary planning): Mandating that 20 percent of dwellings in all major new housing developments are affordable to moderate income earners, including key workers, could deliver 6,000 to 7,000 affordable ‘start-up’ homes per year in Sydney. </li>
</ul>
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The report found that in the 10 years leading up to 2016, key areas in Sydney lost up to 20 percent of teachers, nurses, policy and emergency service workers to outer and regional areas.
Sydney’s Inner South West (-14.6%), Inner West (-11.3%), Eastern suburbs (-15.2%), Ryde (-14.2%) and Parramatta (-21.4%) all experienced a net loss of key workers, while areas including the Illawarra (+10.5%), Southern Highlands (+17%) and Hunter Valley (+13.6%) all had net gains.
The nature of this group’s shift work combined with living a distance away in areas with unsuitable public transport meant 77.4 percent of key workers drove their private motor vehicle to work in 2016, compared with just over 43 percent for the general population. 
Only five percent of key workers used public transport to get to work, compared with 12.7 percent for the general population. 
Despite reports of Sydney’s housing market cooling, Teachers Mutual Bank CEO Steve James said key workers’ hip pockets are still under serious pressure.
“Any so-called cooling of the housing market has not trickled down to prices in the range that key workers such as teachers, ambulance drivers, firefighters, paramedics and police officers can afford. It would have to be the Ice Age for any such cooling to fit their salary and household budget,” he said.
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“For teachers who are earning under six figure incomes, a 10 percent deposit on a $1.5 million house is not feasible. While a slight drop in prices in some areas can be factored in, it’s a drop in the ocean for the key workers who protect and support our city. They still can’t afford to live within 100km of where they work.”
 Mr James added that the pressure this situation puts on people already working in high pressure jobs is unfair, whether they’re looking to rent or buy.
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“Longer commute times, especially in private vehicles, lead to significantly higher financial costs and serious social consequences for key workers and their families, disrupting work life balance and impacting their lifestyle,” he said.
The report also looks at urgent solutions that can be implemented to help key workers buy their own homes both close to their place of work and their established support networks including family, friends, and the wider community including local groups, clubs, and schools. 
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The report reveals that between 2003 and 2016, the median price of established homes in Sydney more than doubled from $400,000 to around $900,000 beyond the reach of many key workers, especially those who are single. Soaring rents have heightened the crisis, making a 20 percent home loan deposit out of reach for many key workers.
For instance, a single key worker eyeing a property in Sydney’s inner ring at the 2016 median price of just over $1 million would need 13 years to save for a deposit. This is a sharp increase from the 8.4 years needed to save a 20 percent deposit in 2006. 
“For a key worker, finding somewhere affordable to live in reasonable proximity to their work is becoming impossible for those not already in the property market.
“The report has found that the closest local government area with an affordable median rental price for an entry level enrolled nurse is Cessnock in the Hunter Valley. That’s about 150km from any hospital in Sydney city, making it a 300km round trip per day. 
“Without urgent and genuine intervention on the part of policy makers and other institutions, a growing number of key workers in NSW and Sydney may never be able to afford to own their own home within reasonable distance of Sydney,” said Mr James.
Police Bank CEO Tony Taylor said that the five key measures identified in the report to improve housing affordability for key workers were worth serious consideration.
“We could see more key workers pushed further out of the Sydney metropolitan area, the effects of  which will be felt by each and every one of us."
“Addressing these key barriers to housing affordability could deliver residential housing products in metropolitan Sydney as much as 20 percent cheaper than today’s prices, and with vastly more manageable deposits for key workers looking to buy a home,” he said.
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