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<p class="x_MsoNormal"><span>48 lenders have cut at least one fixed home loan rate in the past week since the RBA's emergency rate cut, according to <span>financial comparison website</span> RateCity.</span></p>
<p class="x_MsoNormal"><span>ING, <span>Australia's fifth largest lender, </span>set to offer the country's lowest home loan rate at just 2.09 per cent, fixed for two years, available from March 26. </span></p>
<p class="x_MsoNormal"><span>The company announced cuts to its fixed home loan rates by up to 50 per cent for owner-occupiers with the Orange Advantage package. </span></p>
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<p class="x_MsoNormal"><span><span>Around 80 per cent of fixed home loan rates are now below 3 per cent and more than two dozen lenders offering fixed rates under 2.5 per cent. </span><span><br></span></span></p>
<p class="x_MsoNormal">Sally Tindall, research director at RateCity.com.au, said the fixed rate space was hitting boiling point.</p>
<p class="x_MsoNormal">“Lenders are putting all of their cards on the table as panicked borrowers seek out home loan security in a market that is changing daily,” she said.</p>
<p class="x_MsoNormal">“The move from ING comes after the major banks kicked off a rate war last week with Westpac, NAB and ANZ cutting rates to 2.19 per cent. The question is ‘how low can they go?’.</p>
<p class="x_MsoNormal">She noted that we are not far from seeing fixed rates below 2.0 per cent. </p>
<p class="x_MsoNormal">Like many banks, ING has chosen not to cut variable rates following Thursday’s RBA announcement, but offered payment deferrals for up to 6 months for home loans, personal loans and credit cards.</p>
<p class="x_MsoNormal">“This will support a lot of Australians in the coming months, particularly those who have been impacted financially as a result of the coronavirus,” she said. </p>
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Fixed rates plunge after RBA emergency rate cut

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<p>Realestate.com.au chief economist Nerida Conisbee says only about 10 per cent of residential sales in Queensland utilise the auction process. </p>
<p>“Brisbane’s not a big auction market anyway so it won’t have the same impact we’ll see in Melbourne and Sydney,” Ms Conisbee told realestate.com.au.</p>
<p>Realestate.com.au has launched <a href="https://help.realestate.com.au/hc/en-us/articles/360001177803-How-to-add-a-video-or-a-3D-tour-to-a-listing" target="_blank">virtual tours of properties</a> listed on its site to help home hunters.</p>
<p>"To continue to view properties online, it introduced digital inspections showing all the features.</p>
<p>“For people looking to buy, the bigger deal will be not being able to go into the home,” Ms Conisbee said.</p>
<p>There are two main ways of going about adding a video or a <a href="https://www.propertyobserver.com.au/https://help.realestate.com.au/hc/en-us/articles/360000354766">three-dimensional tour</a> to a listing.</p>
<p>The first being via an <a href="https://help.realestate.com.au/hc/en-us/articles/115004480103-Search-a-listing-in-Agent-Admin" target="_blank">Agent Admin</a> where you will need to find the listing. When you have found the listing, through the 'Images and Copy' tab, scroll down to 'Links'. This is where you can add video links to the Video URL field, or Online Tour 1 field for 3D tours. </p>
<p>A video or 3D tour can also be added via your third-party listing uploader where you would have to update the listing directly through its portal. </p>
<p>There are a range of 3D tour companies that can be embedded in the image carousel of Realestate.com.au listings. For instance, Scann3D, Ticketyview, DIAKRIT, Augment Space, Google Tour Creator, Virtual Tours Creator, CampaignTrack and BWRM. </p>
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Brisbane won't be as affected by onsite auction ban as Sydney and Melbourne

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<p>The REIQ has sought "clarity" from the Federal Government regarding holding outdoor residential auctions that adhere to coronavirus outdoor restrictions already in place.</p>
<p>The Real Estate Institute of Queensland (REIQ) is the state’s peak professional association for real estate practitioners.</p>
<p>It advised maintaining stability in Australia’s property market played an integral part of Australia’s economic infrastructure.</p>
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<p>“Every Australian needs a home," said Antonia Mercorella, CEO of The REIQ.</p>
<p>“It’s vital real estate professionals are allowed continuity of operation throughout the current crisis, to ensure the market is a solid foundation for the economy not only now as we move through the pandemic, but also when the recovery process begins.”</p>
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<p>Her comments came after the Prime Minister unveiled new restrictions from the national cabinet meeting to combat the spread of coronavirus (COVID-19).</p>
<p>From midnight, Wednesday 25 March, public auctions of real estate auctions and open house inspections will cease until further notice.</p>
<p>The REIQ, together with other State peak bodies, have already been working collectively with real estate professionals across Australia. </p>
<p>“The Prime Minister’s announcement is not a total ban on real estate transactions from taking place as that would have a devastating impact on the Australian economy,” says Ms. Mercorella.</p>
<p>“While in-room auctions cannot be conducted for the foreseeable future, online and telephone auctions will inevitably become the new normal.</p>
<p>"The REIQ will seek further clarity from the Federal Government regarding outdoor residential auctions that adhere to outdoor restrictions already in place."</p>
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REIQ seeks "clarity" from Federal Government on holding banned outdoor residential auctions

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<p><span>The national Ray White agency says its agents will continue to host virtual property tours, private inspections and on-line/digital auctions.</span></p>
<p><span>Their determination was announced after the Tuesday night announcement of the Prime Minister on new </span>bans as of midnight Wednesday March 25, 2020. </p>
<p dir="ltr"><span>"We can take heart from the statement that 'all workers in the economy are essential' and we will carefully adhere to the latest restrictions," <span>Ray White Group managing director Dan White said.</span></span></p>
<p dir="ltr"><span>"The key message to take away is that all real estate onsite and in room auctions and open house inspections will be cancelled as of Wednesday night, but our members will still be able to host virtual property tours, private inspections and on-line/digital auctions, as we have been encouraging."</span> </p>
<p dir="ltr">The industry had unsuccessfully lobbied politicians to make estate agents classified as essential.</p>
<p dir="ltr"><span>"Real estate auctions and open house inspections, in particular open house inspections — that cannot continue," PM Scott Morrison said last night.</span></p>
<p dir="ltr"><span><span>"In the retail space, auction houses, gatherings together in auction rooms, that can no longer continue," he added, noting Australians<span> would "stay at home unless it is absolutely necessary that you go out."</span></span></span></p>
<p dir="ltr"><span><span><span><span>“We’re trying to limit the gathering of people in large numbers that can relate to the transmission of that virus,” Mr Morrison said.</span></span></span></span></p>
<p dir="ltr"><span>Mr White said the restrictions "will no doubt provide us with some challenges, we view them as necessary to face the current crisis and welcome the opportunity to continue to support the many Australians who rely on us to support them in renting, buying, selling and managing their homes." </span></p>
<p dir="ltr"><span>Mr White said n</span>o other restrictions were announced for either property management or sales businesses, subject to other restrictions on physical distancing and hygiene. </p>
<p dir="ltr"><span>He pointed out the "clear and significant need of the millions of residential and commercial tenants who will also need support during this time, whether it be for routine maintenance requests or for the more serious matters that will result from widespread financial hardship." </span></p>
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Ray White agents to continue to host private inspections and on-line/digital auctions

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<p><span>There’s been plenty of pain throughout Western Australia, but in many regions it appears that consumer confidence is on the up and consumers are spending again, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked thei</span>r valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>"We’re starting 2020 with a positive mindset. It’s been a hard slog over the past seven years as market conditions contracted in line with construction activity in the resources industry.</span></p>
<p><span>"We believe that 2020 will be an educational year for many market participants on several fronts and in different markets. We also believe that the market will once again be influenced by activity in the state’s resources sector. Both of these points should see investors return to the market, particularly in the second half of the year. </span></p>
<p><span>"In fact, we consider that late in 2020, many market participants will either have or be actively looking to purchase, but will come to realise that the choice of stock has become more limited throughout the year," the valuation firm said. </span></p>
<p><span>The report suggests a big driver this year is expected to be the resources industry.</span></p>
<p><span> 2019 was a relatively positive year in the industry. After a long period of routine maintenance, a construction phase has commenced, albeit not to the same extent as what occurred between 2006 and 2013. </span>Increased activity throughout Karratha in particular, but also Port and South Hedland, are lead indicators of demand.</p>
<p><span>Values in Karratha surged by double digits in 2019, with several suburbs in the town experiencing growth in excess of 20 percent for the year and the rental market being stripped of stock. </span></p>
<p><span>Construction projects in the inland Pilbara are expected to have further flow on </span>effects to Port Hedland, Newman and Tom Price, and the manpower required for these projects will positively affect net migration statistics.</p>
<p>"The big question this cycle is what will happen to wages? With extensive reconstruction projects occurring throughout many areas in the eastern states, will Western Australia attract enough skilled tradespeople to fill the order books? If so, what will that do to vacancy rates both in the Pilbara, but also in the fly in fly out base of Perth? What flow on effect will this create if and when investors return to the Perth housing market?</p>
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<p><span>"By the end of the year, we should have a decent indication of the scale this cycle will be," the valuation firm said. </span></p>
<p><span>The rental vacancy rate in Perth peaked in 2016 at 5.5 percent according to SQM Research and has been steadily declining since. </span></p>
<p><span>The rental vacancy rate stayed below three percent throughout 2019, reaching a low of 2.5 percent, which coincided </span>with a slight increase in the median rental amount.</p>
<p>According to REIWA, such a rate is representative of demand slowly outstripping supply and a good indicator that the median rental rate may continue to rise, subject to any increase in supply.</p>
<p>"Whilst a rate of 2.5 percent is somewhat high historically for Perth, we need to keep in mind that the majority of supply in the past seven years has been in outlying suburbs, hence we would expect that the actual rental vacancy rate in inner Perth is much lower and would be starting to look quite attractive to investors," the valuation firm said. </p>
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<p><span>"The outer suburbs are also interesting though and we do expect to see an increase in investor activity in these areas as well, but for a different reason," the valuation firm noted. </span></p>
<p><span>These oversupplied areas such as Ellenbrook, Baldivis, Clarkson and Piara Waters offer relatively new properties that may be more attractive from a depreciation point of view and </span>given the distinct lack of demand in recent years for near new dwellings in such locations, values have declined significantly.</p>
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<p><span>Ellenbrook currently has a median sale price of $346,000 and attracts a median rental of $330 per week, but there are more attractive offerings for bargain hunters.</span></p>
<p>For example, the property at <a href="https://www.realestate.com.au/sold/property-house-wa-ellenbrook-131681290" target="_blank">15 Boyagarring Gardens, Ellenbrook</a> recently sold for $335,000, comprising a 2013 built brick and tile dwelling on a 452 square metre allotment.</p>
<p><span>Prior to its sale, </span>it was rented for $380 per week whilst offering attractive depreciation benefits.</p>
<p><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/2020/3/16/ellenbrook.jpg" alt=""> </p>
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<p><span>The report notes similar examples can be found in Clarkson, a modern suburb in Perth’s northern coastal corridor. </span></p>
<p>The following property at <a href="https://www.realestate.com.au/sold/property-house-wa-clarkson-131547870" target="_blank">18 Walpole Place</a> sold for $350,000 in September, below Clarkson’s median house price of $363,500.</p>
<p><span> The property comprises of a 1995 built four-bedroom, two-bathroom dwelling on a 648 square metre allotment and is subject to a lease of $400 per week.</span></p>
<p><span> <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/2020/3/16/clarkson.jpg" alt=""></span></p>
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<p><span>Similar examples are found throughout many of the establishing outlying areas of the Perth metropolitan area, where for several years the market has been dominated by first home buyer house and land packages, with minimal demandfor used dwellings placing continuous downward pressure on values.</span></p>
<p><span>"It will be interesting to see what happens in this space given the returns currently on offer for properties offering attractive depreciation benefits in a market where there are signs of an impending increase in demand. Watch this space!<br></span></p>
<p><span>"To be clear, we do not expect to see much capital growth in such suburbs throughout 2020, but there are other factors that may influence the purchasing decisions for market participants keen to buy in subdued market conditions, as opposed to the returns currently available in most other capital cities. Choice can play a large part in the buying decision and with stock on the market sitting at circa 12,000 properties, a quarter less than the same time last year, it’s obvious that the choice of stock available is on the decline," the valuation firm said. </span></p>
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<p><span>"At the other end of the scale, we have seen an increase in market activity in many more sought after areas. </span>These markets seemed to surge and pause throughout 2019 and caused a great deal of confusion as to where the market was at. What did become clear though, is that many market participants believed they had ample time to find the perfect property and quickly realised they had misread the market.</p>
<p>"We expect this to continue throughout 2020 as a sense of urgency returns to the market from those who missed out on previous offerings. In locations such as Nedlands, we are hearing (and witnessing) various surges in demand where the market will pause for a period of time, listings on the market slowly build and then a surge of demand will see multiple offers on many properties in a short period of time, or buyers who previously missed out on a property act swiftly with strong offers during the very early stages of a marketing campaign," the valuation firm said. </p>
<p>The report notes whilst the average property in Perth takes 84 days to transact, the median to achieve a sale in Nedlands is currently 26 days – not bad for a suburb with a median sale price of $1.63 million.</p>
<p><span>"Returning to the more affordable end of the scale, we do expect that we will start to see an increase in activity in established secondary markets as the rental market tightens and rental values start to rise later in the year. </span></p>
<p><span>"We expect to see </span>an increased sense of urgency from those who have been renting as they watch the availability of decent stock dissipate, forcing them into a return to the housing market. We also expect to see an increase in upgrade and exchange buyers – those buyers who have been considering relocating and the dwindling stock supply creates a sense of urgency. With transactions comes discussions between friends, colleagues and the like and real estate becomes the topic of choice at barbecues."</p>
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<p><span>In the apartment market, government intervention has resulted in a period of concern, the report noted.</span></p>
<p><span> In 2019, the Western Australian government announced stamp duty exemptions for off the plan apartments on the proviso that construction of the development had not commenced yet.</span></p>
<p><span> Whilst there is method to the madness (build demand that will lead to a construction boom at some point in the future), the immediate effect was that demand for established complexes or those currently under construction declined overnight. </span></p>
<p><span>It also placed an additional level of caution over the long-suffering apartment market, at the lower to middle value ranges anyway.</span></p>
<p><span>"We expect this to persist throughout 2020 as developers secure pre-sales prior to committing to commencement of construction," the valuation firm said.</span></p>
<p><span>"All in all, we see a fairly mixed bag for 2020, but largely a positive one. </span>We think that the market will educate itself that there is a finite time to bargain hunt and that trying to pinpoint where the bottom of the market is or was is a futile exercise, especially whilst above average returns are on offer.</p>
<p><span>"We see 2020 as a solid year for buyers ready to act on the choice of stock currently available, with the buying decision becoming harder later in the year and into 2021 as stock levels retract." </span></p>
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Perth property market to be driven by resources sector in 2020: HTW residential 

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<p><span>The Cairns economy and residential property market continue to plod along, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>"Our best guess is that 2020 will look a lot like 2019 (which looked a lot like 2018)," the valuation firm said. </span></p>
<p><span>The report notes the $176 million redevelopment of the Cairns Convention Centre is due to commence in June 2020. With Riley, Bailey and Flynn (the Crystalbrook Collection Hotels) being finished, the first half of 2020 will lack a large construction project and the lack of activity may extend the normally quiet summer period further into 2020.</span></p>
<p><span>The changes to GST charges on foreign-flagged superyacht charters and predictions of a surge in superyachts visiting for leisure and maintenance is a real positive for Cairns and is exactly the type of stimulus needed to support the local property market.</span></p>
<p><span>2020 is an election year with council elections due on Saturday, 28 March 2020 and state government elections due on Saturday, 31 October 2020.</span></p>
<p><span>"Unfortunately the uncertainty elections cause tends to have a negative impact on market activity with people delaying decisions until after the dust has settled," the valuation firm said.</span></p>
<p><span>"If we had to have a wager on where the residential market would be in December 2020 our bet would be the same or slightly less sales than 2019 and median prices similar to or slightly below 2019." </span></p>
<p><span>A two bedroom apartment in Cairns CBD has recently been sold for $232,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-apartment-qld-cairns+city-132182730" target="_blank">2/157 Grafton Street </a>(pictured below), the apartment comes with open plan living and dining, kitchen, balcony and two bedrooms upstairs.</p>
<p><span>The property last sold for $320,000 in 2005. </span></p>
<p><span><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/2020/3/9/cairns%20city.jpg" alt=""></span></p>
<p> </p>
<p>A current listing is a two bedroom apartment in Cairns City with uninterrupted views. </p>
<p>The apartment at<a href="https://www.realestate.com.au/property-unit-qld-cairns+city-132927182" target="_blank"> 3/138 Abbott Street </a>(pictured below) has been listed for sale with a price of over $400,000.</p>
<p>It comes with designer kitchen, open plan living, front patio and undercover parking.</p>
<p><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/2020/3/9/carins%202.jpg" alt=""></p>
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Cairns property market to continue to plod in 2020: HTW residential 

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<p><span>Overall Tassie’s housing market remained the star performer nationwide in 2019 with six of the top 10 suburbs all coming from the apple isle, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes many regions achieved above 10 percent growth and much of the state was above five percent.</span></p>
<p><span>"So what of 2020?</span></p>
<p><span>"Simply due to the strength in the local economy, population growth, near nil vacancy rates in the rental market and ongoing housing shortage, we feel that 2020 will deliver continued growth, a steady market in Hobart and we remain positive with regard to overall pricing," the valuation firm said. </span></p>
<p><span>The outer ring lower socio economic suburbs such as Bridgewater and Gagebrook have recently led the capital growth path. </span></p>
<p>"We would expect this to slow a touch as some realism comes back into the market," the valuation firm stated. </p>
<p>A three bedroom house in Bridgewater (pictured below) has recently been sold for $335,000.</p>
<p>Built in 2015, the house at <a href="https://www.realestate.com.au/sold/property-house-tas-bridgewater-132977278" target="_blank">24 Hurst Street </a>comes with three bedrooms, one bathroom, living and dining area, and kitchen. </p>
<p>The property last sold for $45,000 in 2014.</p>
<p><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/2020/3/16/bridgewater.jpg" alt=""></p>
<p>Middle and inner ring suburbs continue to experience firm demand conditions and upward pressure on pricing.</p>
<p>"We expect this to be ongoing," the valuation firm stated. </p>
<p><span>In the north, Launceston was one of the standouts in 2019 with solid growth through all price segments and most locations, the report noted. </span></p>
<p><span> Continued expansion of the tourism sector (yes, there is a crane in the sky), the impending commencement of the next stage of the university campus (sod to be turned </span>in January 2022) and a generally buoyant outlook would suggest that 2020 will be no different.</p>
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<p><span>The north-west coast and west coast regions continue to have their own economic challenges and in some regions, continue to struggle, especially the mining based townships along the west coast. </span></p>
<p><span>"We are expecting Devonport to continue its momentum of 2019. Burnie has no doubt turned the corner with a continuation of improved conditions during 2019. We expect both these major centres to continue upward in 2020," the valuation firm said. </span></p>
<p><span>A Georgian home in Devonport (pictured below) has hit the market with over $849,000 hopes. </span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-tas-devonport-132992210" target="_blank">13 George street</a>. </p>
<p><span>Set on a 1,095sqm parcel of land, the home comes with open plan kitchen, dining and living, sitting room, in-ground pool and dual length garage. </span></p>
<p><span><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/2020/3/16/devonport.jpg" alt=""></span></p>
<p><span>"The areas to watch for this year? </span>Climate change is now one of the main drivers attracting people to migrate to the state.</p>
<p><span>"Look out for the coastal towns, especially those that offer medical or nearby medical facilities such as St Helens (has medical facilities) &amp; Orford (one hour from Hobart). We are expecting to see the sea change and climate change effect continue, especially from Queensland and Western Australia as buyers seek to relocate to a milder climate. </span></p>
<p><span>"Cashing in the interstate family home, buying a very nice holding on the Tassie coast and having money left over in the bank to play with - what more could you want?" the valuation firm said. </span></p>
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Tasmania expected to see a steady property market in 2020: HTW residential 

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<p>2019 was a positive year not only for the Mackay residential market but for the general Mackay economy, according to a recent Herron Todd White (HTW) residential report.</p>

<p>The report notes a buoyant resource sector coupled with large infrastructure projects, particularly the Mackay Ring Road, saw increased employment opportunities and population growth throughout the year.</p>

<p>The residential market saw increased demand and slight capital growth. The rental market really gathered momentum in 2019, with vacancies below two percent and rental values increasing significantly.</p>

<p><span>"In 2019, Mackay’s economy was strong, we had record low interest rates and there were excellent employment prospects across most industries, but we only saw minor property value growth. </span>There are a number of factors that contributed to this," the valuation firm said. </p>

<p>[smartcode_project:default project_id=94823]</p>

<p><span>Firstly, the median house price for Mackay fell from $438,000 to around $340,000 at the bottom of the market, a drop of around $100,000. This equity reduction eroded the purchasing power </span>of a number of people who purchased property, particularly if they purchased at the height of the market.</p>

<p>Also, the strict lending policies of banks meant that a far greater deposit was required to purchase property.</p>

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<p><span>"As we head into 2020, there appears to be no slowdown in the resource sector with significant employment opportunities available," the valuation firm said.</span></p>

<p><span>Also, the Mackay Ring Road project is well underway, with the government approving Stage 2 and </span>the Walkerston Bypass being recently listed on the National Infrastructure Priority list.</p>

<p>Add the smaller local projects, including The Resource Centre of Excellence, retail expansion including Coles at Andergrove and the Northern Beaches Emporium development plus other council projects including the Mackay CBD to Harbour link, Queens Park revitalisation project and the Rotary lookout in North Mackay and all of these projects and opportunities should keep the economic recovery of Mackay continuing into 2020.</p>

<p>[smartcode_project:default project_id=94830]</p>

<p>The report notes interest rates are expected to continue at record low levels for the short term and there appears to be a softening of some of the strict criteria of the banks.</p>

<p><span>"So what do we think will happen to residential property in 2020? We think the momentum gained in Mackay over the past two years will continue into 2020. </span></p>

<p><span>"We anticipate modest price growth throughout the year across all market sectors, with rentals to remain tight. With continuing record low interest rates, good employment opportunities and a general feeling of optimism across Mackay, we think 2020 will be a good year for the residential real estate market." </span></p>

<p><span>A fully finished self contained apartment in Mackay has been listed for rent with a price of $340 per week.</span></p>

<p>Located at <a href="https://www.realestate.com.au/property-house-qld-mackay-417251618" target="_blank">4/24 East Gordon Street</a> (pictured below), the apartment comes with master bedroom, open plan living area, and well-equipped kitchen.</p>

<p>It is located within walking distance to the Town Beach and only a short drive to CBD.</p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/mackay%20.jpg"></p>

<p>A three bedroom Queenslander situated close to Mackay CBD has been sold for $280,000.</p>

<p>Located at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-132385018" target="_blank">26 Juliet Street </a>(pictured below), the house comes with renovated kitchen, open plan lounge and dining, and functional bathroom.</p>

<p>It's situated close to restaurants, schools, sporting grounds and parklands. </p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/mackay%202.jpg"></p>
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Mackay to see price growth throughout 2020 across all property market sectors: HTW residential 

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<p>2020 is shaping up to be a continuation of the previous tough few years for the Darwin residential property market with a number of factors still contributing to the current financial position of the Territory, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.</p>
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<p><span>The report notes with some long-term projects getting the green light and more in discussion, the flow on effect will not be seen in 2020 and sentiment will continue to remain weak across the residential market and wider economy in general.</span></p>
<p><span>With the completion of the construction phase of the Ichthys Gas project and remaining construction workers now onto the next project, the focus shifts to what is next for Darwin and the Territory overall, as new projects are needed.</span></p>
<p><span> The $200 million CBD revitalisation including the newly announced CDU campus is well underway. </span></p>
<p><span>"It is hoped that with a more vibrant city as well as more bodies on the ground, will have a flow on effect for businesses and therefore uptake in CBD dwellings. This will have a direct positive impact on the residential unit market, with increased demand for rental accommodation in the CBD," the valuation firm said. </span></p>
<p><span>A two bedroom apartment in Darwin City has recently been sold for $390,000 (pictured below).</span></p>
<p>The near new apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-124636170" target="_blank">P01/16 Harvey Street</a> comes with living and dining area, wrap around verandah and centrepiece kitchen. </p>
<p><span>The complex features lifestyle facilities including resort style pool, gymnasium and children's play area. </span></p>
<p><span><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/2020/3/16/darwin%20city.jpg" alt=""></span></p>
<p><span>Further projects such as the announcement of the $400 million ship lift facility, the $1.05 billion Todd Gold mine construction, $200 million Westin Hotel project, the $1.45 billion project Sea Dragon prawn farm and the longer term $20 billion sun cable project in Tenant Creek due to commence in 2023 that will supply 20 percent of Singapore’s </span>electricity.</p>
<p>"While these are positive announcements and major drivers of the economy long term, it is difficult to see an immediate positive impact in 2020 on the residential property space," the valuation firm said. </p>
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<p><span>"Looking at sales figures across 2019 it becomes clear that while sales volume appears to have increased particularly through the back end of the year, we have not seen any increase in equity and in most cases people are in a negative equity position," the valuation firm said. </span></p>
<p><span>While property prices remain low it makes it more difficult for local or smaller investors to re-enter the market and add to their portfolio. The REINT have reported that median house price as at the end of Sept 2019 of $460,000 is in line with 2009 prices, while median unit prices for greater Darwin of $294,000 is in line with March 2007.</span></p>
<p><span>A single level family home in Woodroffe (pictured below) is currently on the market with a price guide of $452,000.</span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-nt-woodroffe-132863710" target="_blank">38 Baldwin Drive</a>. </p>
<p><span>It comes with L-shaped living-dining area, centre kitchen, and alfresco patio overlooking lawns and in-ground pool.</span></p>
<p><span><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/2020/3/16/woodroffe.jpg" alt=""></span></p>
<p><span>"Looking into the Crystal ball for 2020, we see the most action in the residential market will be first home owners. As prices continue to soften and in conjunction with the newly released First Home owner deposit scheme, we believe that some of the saturated unit market will be absorbed by first home owners and entry level homes due to the low price point. </span></p>
<p><span>"This Federal Government scheme, which allows a purchase for Territory dwellings of up to $375,000 with a five per cent deposit, should take some of the lower price point stock off the market," the valuation firm said. </span></p>
<p><span>The report notes the grants on offer certainly are not limited to first home owners.</span></p>
<p><span>"Currently in the territory we have on </span>offer, a $20,000 build bonus scheme if buying or building a new home from February 2019, limited to the first 600 applicants, a first home owner grant of $10,000 on new homes, Territory home owner discount, with up to $18,500 off stamp duty on the purchase of either a new or existing home for new home owners in the Territory and finally a $10,000 home renovation grant if buying your first home is an existing dwelling," the valuation firm added. </p>
<p>Only 200 of the 600 build bonus applications have been exhausted so there remains a strong stimulus to still be seen in the market.</p>
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<p><span>"It’s not all doom and gloom! Darwin presents great opportunity for the investor market with the highest yields for any capital city in the country. </span></p>
<p><span>"Investors can typically expect a gross return of over five per cent across both units and dwellings and with the lowest median house prices in the country at year end 2019, the entry into the property market is easier and in most cases a positively geared asset," the valuation firm concluded.</span></p>
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Darwin property market expected remain weak in 2020: HTW residential 

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<p>During the middle part of 2019, the historically slow winter period was compounded by the federal election and lingering effects of the banking royal commission, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes the metropolitan market slowed with both state government and CoreLogic supplied data indicating a declining market.</p>
<p>Historically the South Australian market has lagged behind Sydney and Melbourne which both began to show signs of recovery in mid 2019.</p>
<p>On the back of this data it was hopefully only a matter of time before the tides turned. And turned they have.</p>
<p>The most recent CoreLogic Daily Home Value Index indicates that the metropolitan market has recovered to a point of 117.06 from a low of 114.99 in September 2019.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/3/9/corelogic%20adelaide.png" target="_blank">Click here</a> to enlarge: </p>
<p> <img src="https://www.urban.com.au/images/2020/3/9/corelogic%20adelaide.png" alt=""></p>
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<p><span>This market fluctuation has been supported by agents who have reported that the middle part of 2019 saw a reduction in buyer activity and also a limited amount of available stock, only for market conditions to flip come spring.</span></p>
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<p><span>"So, with this being said and no known market disruptors on the horizon, there is no reason to indicate that this strengthening level of market activity won’t continue into 2020," the valuation firm said. </span></p>
<p><span>Market segments to watch throughout the year will be the middle ring $400,000 to $600,000, entry level character dwellings and the prestige market of $3 million plus.</span></p>
<p><span>The middle ring provides affordability for first home buyers and also a price point for cashed up investors who do not have to rely solely on a lending institution. </span></p>
<p><span>The report suggests fitting this profile are the suburbs of Felixstow, Seaton and Pasadena.</span></p>
<p><span>Felixstow is located seven kilometres north-east of the Adelaide CBD. This suburb was established in the 1960s with further development occurring in the late 1990s. </span></p>
<p><span>The suburb is currently going through a stage of urban renewal with a significant amount of older stock being demolished. </span></p>
<p><span>Felixstow has proximity to Linear Park, is serviced by Marden Shopping Centre and has direct access to the CBD via Payneham Road and the O-Bhan bus route.</span></p>
<p><span>"Zoning changes in 2017 allowing for higher density development saw the suburb’s median house </span>price spike to $685,000. This has since cooled off to a median dwelling price of $598,888 as at September 2019," the valuation firm said. </p>
<p><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/2020/3/9/felixstow.jpg" alt=""></p>
<p>The report notes representing Felixstow’s past and present are the sales of 32 Wilson Avenue (pictured above), an original 1960s brick dwelling on 1000 square metres and <a href="https://www.realestate.com.au/sold/property-house-sa-felixstow-132448430" target="_blank">11 Pearce Avenue</a> (pictured below), a circa 1993 three- bedroom, two-bathroom brick veneer dwelling on 380 square metres, which achieved sale prices of $574,500 and $571,000 respectively.</p>
<p><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/2020/3/23/felixstow.jpg" alt=""></p>
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<p><span>Seaton is located 11 kilometres north-west of the Adelaide CBD. This suburb was established in the 1950s and has since gone through a number of stages of urban renewal with a mixture of newer 1980s to 2000s dwellings. </span></p>
<p><span>The suburb has proximity to Grange Beach, is serviced by Westfield West Lakes and has The Royal Adelaide Golf </span>Club within its confines. This suburb has seen its median sale price steadily rise since mid-2015 and has a current median dwelling price of $495,000.</p>
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<p><span>"Older stock in Seaton is considered most popular, providing purchasers with the greatest potential to value add," the valuation firm stated.</span></p>
<p><span><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/2020/3/9/seaton%201.jpg" alt=""></span></p>
<p>Recent sales in this category are<a href="https://www.realestate.com.au/sold/property-house-sa-seaton-132386386" target="_blank"> 39 Seaton Terrace </a>(pictured above) and <a href="https://www.realestate.com.au/sold/property-house-sa-seaton-132336634" target="_blank">7 Stevens Street</a> (pictured below), both comprising partly updated 1960s brick dwellings on large allotments and achieving sale prices of $508,000 and $460,000 respectively.</p>
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<p><span><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/2020/3/9/seaton%202.jpg" alt=""></span></p>
<p><span>Pasadena is located nine kilometres south of the Adelaide CBD. This suburb was established in the 1970s and is characterised by large brick homes on 700 square metre allotments.</span></p>
<p><span> A large portion of Pasadena extends into the Adelaide foothills, which provides many properties with local views and has restricted higher density development. </span></p>
<p>The epitome of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-house-sa-pasadena-132126698" target="_blank">85 Quinton Court</a> (pictured below), which achieved a sale price of $585,000 in December. This is a two level brick dwelling disposed as three bedrooms and two bathrooms with local views and situated on an 820 square metre allotment.</p>
<p><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/2020/3/9/pasadena.jpg" alt=""></p>
<p>Pasadena has a direct route to the CBD via Goodwood Road and is located only a short distance from the Southern Expressway, which provides access to the Fleurieu Peninsula. Pasadena has a median dwelling price of $566,250, some 15% below the median dwelling price of the greater Mitcham Council.</p>
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<p><span>"With a buyer pool as deep as a baritone, entry level character dwellings continue to be the most popular property type within the inner and middle rings," the valuation firm continued. </span></p>
<p><span> Irrelevant of condition, there is upside in these properties for those looking to renovate, whilst the comfortable and renovated properties provide options for first home buyers and downsizers. </span></p>
<p><span>T</span>he entry price point varies depending on location. North and west of the CBD sees an entry price point of $500,000 to $700,000, whilst $600,000 to $800,000 represents the entry price point south and east of the CBD. Prospect (north), Mile End (west), Goodwood (south) and Kensington (east) of the CBD provide the best chances of picking up an entry level character dwelling.</p>
<p><span>"The prestige market of $3-million-plus offers purchasers a significant slice of house and land compared to a number of the other metropolitan markets," the valuation firm said. </span></p>
<p><span>Buyer activity has come locally as well as from interstate and overseas. </span></p>
<p><span>Within the inner ring, 1900s character mansions on larger land holdings are considered most popular whilst west of the city, properties require a high standard of finish </span>and ocean views to push the value past $3 million.</p>
<p>A number of suburbs achieved significant top end sales in the latter stages of 2019.</p>
<p>The inner south- eastern suburb of Fullarton had its first sale above $2.5 million when <a href="https://www.realestate.com.au/sold/property-house-sa-fullarton-132114566" target="_blank">137 Wattle Street </a>(pictured below) settled for $3 million in November.</p>
<p><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/2020/3/9/fullarton.jpg" alt=""></p>
<p>West of the city, Glenelg North achieved only its highest transaction since 2012 with 10 Patawolanga Frontage achieving $4.04 million in December.</p>
<p>East of the city, Kensington Park achieved only its second sale above $4 million with 56 Yeronga Avenue settling at $4.2 million in December.</p>
<p>"Ironically, Kensington Park’s only previous sale above $4 million was 56 Yeronga Avenue which achieved $4.25 million in 2013," the valuation firm said. </p>
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<p><span>For those looking for capital growth, the CBD apartment market and outer ring should be treated with caution, the report notes. </span></p>
<p><span>Both these market segments have heightened levels of available stock, which creates a dynamic that isn’t conducive to an increasing market.</span></p>
<p><span>"We don’t claim to be able to tell the future but with data indicating a strengthening finish to </span>2019 and positive feedback from agents, the metropolitan market is in a position to enter the new decade on a positive note.</p>
<p>"Whether this trend continues can only be answered by the clairvoyants among us." </p>
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Adelaide metropolitan property market expected to strengthen in 2020: HTW residential 

<p>Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.</p>

<p>While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.</p>

<p>A new Colliers report, <em>Brisbane 2032 Olympic and Paralympic Games: Creating Solutions</em>, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.</p>

<p>The broader construction pipeline paints an even clearer picture.</p>

<p>Construction Skills Queensland's <em>Horizon 2032</em> report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.</p>

<p>The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=373834]</p>

<p>Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.</p>

<p>"From 2027 onwards, the market will shift dramatically," Scriven said.</p>

<p>"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."</p>

<p>Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.</p>

<p>"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."</p>

<p>[smartcode_project:default project_id=150713 project_image_fid=373827]</p>

<p>Developers are already positioning themselves ahead of that window.</p>

<p>Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.</p>

<p>Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.</p>

<p>The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.</p>

<p>Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.</p>

<p>"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.</p>

<p>"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."</p>


Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

<p>It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.</p>

<p>&nbsp;</p>

<p>Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357458]</p>

<p>Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.</p>

<p>"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.</p>

<p>"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.</p>

<p>"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357463]</p>

<p>Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.</p>

<p>Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357469]</p>

<p>Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.</p>

<p>"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.</p>

<p>"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."</p>

<p>Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.</p>

<p>[smartcode_project_cta:default project_id=151449]</p>


Sherpa sells out Flourish Oasis in booming Palm Beach

<p>Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.</p>

<p>The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=368645]</p>

<p>Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.</p>

<p>"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.</p>

<p>"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=358802]</p>

<p>La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.</p>

<p>Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.</p>

<p>The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.</p>

<p>Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=364551]</p>

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.</p>

<p>Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.</p>

<p>"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.</p>

<p>Following completion of the building later this year, buyers will move into their apartments well before Christmas.</p>

<p>[smartcode_project_cta:default project_id=134951]</p>


La Vera closes in on completion as Macquarie Park continues residential transformation

<p>Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.</p>

<p>More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.</p>

<p>The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.</p>

<p>Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.</p>

<p>Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.</p>

<p>Just 17 of the original 36 dual key apartments remain available.</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=367096]</p>

<p>The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;</p>

<p>The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363511]</p>

<p><a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;</p>

<p>“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;</p>

<p>“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.</p>

<p>“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363509]</p>

<p>Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;</p>

<p>The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.</p>

<p><a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;</p>

<p>“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;</p>

<p>“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;</p>

<p>“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363515]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;</p>

<p>The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.</p>

<p>The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;</p>

<p>Erwin said the dual key concept represented a broader shift in how Australians would live in the future.</p>

<p>“People want homes that can evolve with their lives,” he said.&nbsp;</p>

<p>“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”</p>

<p>Prices currently range from $2,115,750 to $2,583,000.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=135546]</p>


Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

<p>Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.</p>

<p>Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.</p>

<p>The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.</p>

<p>Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.</p>

<p>“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.</p>

<p>“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”</p>

<p>Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.</p>

<p>The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.</p>

<p>He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.</p>

<p>“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”</p>

<p><img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.</p>

<p>According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."</p>

<p>The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.</p>

<p>Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.</p>

<p><img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" /></p>

<p>The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.</p>

<p>Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.</p>

<p>The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.</p>

<p><img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" /></p>

<p>"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.</p>

<p>"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."</p>

<p><img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" /></p>

<p>The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.</p>

<p>Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.</p>


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