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Shepparton’s market is being driven by a splash of spending on public infrastructure as well as a flurry of construction activity for private businesses, according to a recent Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
The report notes many local manufacturing businesses are expanding to larger scale premises, which is having a flow through effect on the whole market. 
"As stated in previous Month in Review entries, the hospital expansion is bringing a wealth of jobs for both short term construction and ongoin medical staff, as is private sector allied health work, which is bringing population movements from outside the Goulburn Valley. This has been steady now for the past 12 to 18 months and will continue throughout 2020," the valuation firm said. 
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"The land situation in the area is tightening, with a number of larger estates being in their last stages.
"This will start to put upward pressure on land values, the likes of which we haven’t seen in over a decade. This will hit first home buyers the hardest as they make up a large chunk of the new home builder pool," the valuation firm added. 
"Investors are still in the area chasing the strong yields that we have to offer, but the intensity the out of town investors brought six to 12 months ago has cooled off. Unit prices have started to bounce back with a couple of good results recently." 
"Overall the market is still performing strongly with sustainable growth rates. Many agents are reporting sub 30 days on market and have been for an extended period." 
A five year old dormer display home in Shepparton was sold for $480,000 in April.
The three bedroom, two bathroom house is situated at<a href="https://www.realestate.com.au/sold/property-house-vic-shepparton-132632146" target="_blank"> 72 Canterbury Avenue</a> (pictured below).
It comes with two living areas, centrally located kitchen, study and large rear garden.
<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/2020/5/11/shepparton%202.jpg" alt="">
 
A current listing is a three bedroom house situated close to Shepparton CBD. 
The <a href="https://www.realestate.com.au/property-townhouse-vic-shepparton-133123538" target="_blank">1/19 Middleton Street</a> home (pictured below) has been listed with a price guide of $335,000.
It comes with open plan living, private patio area, kitchen, front courtyard and double garage. 
<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/2020/5/11/shepparton%203.jpg" alt="">
Note regards COVID-19
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Shepparton property market performs strongly with sustainable growth rate: HTW residential 

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The quick progress of COVID-19 has brought swift ramifications for the real estate industry, according to a recent Herron Todd White (HTW) residential report. 
<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</div>
"No open homes, no in-room auctions. In short, professionals are having to adapt quickly to ensure the economic wheels keep turning.
"It would come as no surprise that the overriding element at present is the medical, social and economic fallout from virus control measures," the valuation firm said. 
"In Brisbane, the full effect is still to play out, but we can at least take some comfort in not having to deal with population densities like Sydney and Melbourne. A small blessing for the Sunshine State," the valuation firm commented. 
"For the sake of this month’s submission, let’s look beyond COVID-19 and set aside the economic downturn and recovery period to some degree (as we’re not certain as yet how long this challenging time will last)."
"So, what are the elements that traditionally drive the Brisbane market and how might they look in the future?
"The metrics and measures we’ve customarily watched as Brisbane property indicators have included the general economic outlook (nationally and locally), employment numbers and job security, interstate migration, wage growth, interest rate movements, local, state and national elections and the availability of finance," the valuation firm said. 
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It’s a complex dance of interaction between these components that sets the level in terms of activity and price growth potential.
"To give some perspective, 2019 saw a somewhat challenging start in the first half of the year with a number of headwinds. These included the banking royal commission that led to a redefining of lending policies by financiers. There were mid-year elections plus a feel that southern markets had overheated as well.
"We were also struggling to get our Queensland unemployment rate lower. All these elements contributed to our unimpressive residential market performance and general confidence," the valuation firm said. 
Then, the second half of 2019 saw a market back on the rise.
 There was an increase in confidence as lending restrictions were loosened, Brisbane’s major infrastructure projects got underway in earnest and interstate migration numbers continued to improve.
It was, for all intents and purposes, looking like a very promising 2020 before the handbrake was applied by the pandemic, the report said. 
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"Of course, once we pass through this time of uncertainty, Brisbane property operators will be looking overall for leading indicators such as employment and wages growth," the valuation firm said. 
The report suggests there will no doubt be an appetite for infrastructure projects to be back on track and, as mentioned, that all important net interstate migration number.
For those interested in some nuances, there are different drivers for different buyer types.
For example, first home buyers in Brisbane are traditionally stimulated by affordability, the level of competition from investors, first home buyer’s grant and stamp duty incentives, interest rate reductions and the ability to save for deposits and get finance. 
Some of these measures won’t be applicable in the immediate wake of COVID-19, e.g. interest rate falls. That said, when markets return to normalcy, this list of drivers will be applicable.
For upgraders, interest rate reductions have been a keen driver of markets. The ability to draw on built up equity and borrow at a competitive rate has prompted many to act in the past. Of course, with rates being used as a lever to stimulate the economy at the moment, their ability to substantially drive the upgrader sector post- COVID-19 will be some time off, the report noted.
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Empty nesters who’d been looking to downsize and move closer to the city were, in the past, driven by the improvement of lifestyle factors. This would include the development or upgrade of community- centric hubs such as cafés and restaurants. 
Those who are self-funded can also be prompted to move in response to available property types – in particular high-end apartment accommodation – where they can enjoy a comfortable, low- maintenance lifestyle with the ability to lock-and- leave for travel. Again, elements that may be some way off after the crisis passes and we’re on the road to recovery.
"Local drivers by property type aren’t particular to Brisbane. What traditionally applies here could well apply to most capitals on the eastern seaboard," the valuation firm said. 
For units, the influence of oversupply and undersupply is paramount. Brisbane saw the fallout of new build oversupply during 2017 to 2019 as off-the-plan product came to completion.
 Many revaluations were coming in below the original purchase price. 
"During 2019, we were seeing a pick- up in absorption of this oversupply, but the post- 2020 market is more uncertain at this stage," the valuation firm said. 
The thing to keep in mind regarding apartments is that good quality stock which appeals to owner- occupiers is often well received, the report added. 
It’s this type of unit that will receive increased buyer interest post-2020. This includes units of good size and with a practical floorplan within close proximity of desirable hot spots. 
In comparison, typical investor style apartments in secondary locations will have less growth potential.
A two bedroom apartment situated in the Brisbane CBD was sold for $477,000 in April.
The 145sqm apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-brisbane+city-127595854" target="_blank">405/108 Albert Street </a>(pictured below) features a large fully enclosed courtyard with lush surroundings. 
The home comprises two bedrooms, two bathrooms, modern kitchen, secure car park and storage cage. 
<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/2020/5/11/brisbane%20.jpg" alt="">
Similarly, townhouses within the inner city have performed well in comparison to those positioned in outer-lying suburbs. That said, performance can be project specific.
Broadly speaking, well located, quality townhouse projects catering to the owner-occupier market have performed better, with stronger demand and value levels that are more resilient.
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A current listing is a Paddington townhouse priced over $699,000.
The three bedroom, two bathroom townhouse is situated at <a href="https://www.realestate.com.au/property-townhouse-qld-paddington-133105886" target="_blank">1/23 Royal Street </a>(pictured below).
It features open plan dining, modern kitchen, living room, private courtyard and garden area. 
<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/2020/5/11/paddo.jpg" alt="">
And of course, detached housing is the stalwart sector. Houses closer to the city tend to retain and grow in value better than those located further on the fringe. High demand and limited stock is the equation that’s driven this traditionally, the report noted. 
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<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Brisbane unit market remains uncertain during COVID-19 pandemic: HTW residential 

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Up until the recent outbreak of the Coronavirus, it appeared that there was a sense of confidence in the central Gold Coast local property market from both investors and owner-occupiers, according to a recent Herron Todd White (HTW) residential report. 
<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</div>
The report notes local agents had been reporting good levels of buyer enquiry for a broad range of residential property in the first couple months of 2020 which has been positive.
This level of optimism can be attributed to the low interest rate environment and to some extent, the latest upturn in the Sydney and Melbourne housing markets.
With some signs indicating these capital cities being on the bounce again, many buyers have been turning their attention to the central Gold Coast area due to the attractive price points.
"The key local drivers for this region include a wide array of lifestyle options, with good accessibility to amenities and greater job opportunities (compared with the quieter coastal and rural districts)," the valuation firm said. 
"In light of recent events (Coronavirus and the subsequent stock market falls) it will become more apparent that buyers will be paying greater attention to national economic indicators but these buyers will also need to focus on local concerns," the valuation firm said. 
The central Gold Coast region is heavily reliant on the construction and tourism industries, the report noted. 
These industries support a huge amount of the population for the area in terms of providing jobs and stability for the local economy.
"It will be interesting to see how these industries fare in the next few months and what impact it will bring on the local property market if the recent events continue to escalate," the valuation firm said. 
A two bedroom townhouse in Gold Coast's inner city suburb Bundall has recently been sold for $526,000.
The<a href="https://www.realestate.com.au/sold/property-townhouse-qld-bundall-132988766" target="_blank"> 6/9 Freyburg Street</a> home (pictured below) comprises open plan living and dining, two bedrooms with a shared balcony, courtyard and two car accommodation. 
It's situated within walking distance to shops and restaurants. 
<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/2020/5/11/bundall%20.jpg" alt="">
A current listing is a Surfers Paradise beachside apartment priced at $399,000.
The two bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-133328706" target="_blank">10 Vista Street </a>(pictured below). 
It features north facing balcony, sliding doors and windows, open plan living and skyline views. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/gold%20coast%202.jpg" alt="">
<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Key drivers for Central Gold Coast property market to be impacted by COVID-19 pandemic: HTW residential 

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Most investors appear to be acutely aware of the current interest rate and predictions of it being on the decline, according to a recent Herron Todd White (HTW) residential report. 
The HTW report suggests this has put a positive slant on the Gold Coast Central North local market. Another positive is the general optimism in the national economy, however this is now very fluid due to the Coronavirus pandemic, with some local agents reporting a fall in enquiries.
<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</div>
"A major factor on the Gold Coast is the perceived low values of properties compared to the capital cities such as Melbourne and Sydney and overseas markets," the valuation firm said. 
A major local influence on the Gold Coast has always been proximity to water, whether beach, broadwater, river, lake or canal. 
Secondary location factors are proximity to the perceived better schools, commercial precincts and public transport corridors such as proximity to the new light rail or access to M1 motorway, the report noted. 
First home buyers are most influenced by budget and need for compromise. Many are buying small lowrise units in the older areas such as Southport or driven to the north-west corridor developing area. Upgraders are driven more by location (i.e. water locations).
A first floor apartment situated in the heart of Southport has recently been sold for $240,000. 
The<a href="https://www.realestate.com.au/sold/property-unit-qld-southport-132891778" target="_blank"> 9/14 Rose Street</a> home (pictured below) was last sold in 2013 for $299,000.
It comes with one bedroom, one bathroom, modern kitchen and outdoor balcony. 
<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/2020/5/11/southport.jpg" alt="">
Empty nesters are usually seeking smaller dwellings in locations with good proximity to health services and established commercial precincts.
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"A major factor has been the oversupply of medium to high density housing such as modern medium rise apartments and townhouses. We have seen a dramatic decrease in demand for this type of property," the valuation firm said.
A three bedroom townhouse in Southport is currently on the market with a price guide of over $449,000.
The <a href="https://www.realestate.com.au/property-townhouse-qld-southport-133020038" target="_blank">15/2 Bronberg Court</a> townhouse (pictured below) features large kitchen, lounge with ceiling fan, and undercover alfresco. 
It is located within easy access to public transport, schools, restaurants and shops. 
<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/2020/5/11/southport%203.jpg" alt="">
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<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Gold Coast Central North property market sees dramatic decrease in demand for medium rise apartments: HTW residential 

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Wollogorang and Wentworth stations, the renowned 705,000 hectare cattle station on the Northern Territory/Queensland border has been sold. 
The McMillan family from Queensland bought the cattle station for $53 million from Chinese Billionaire Xingfa Ma. 
Bordering the Gulf of Carpentaria, the property comprises 576,000 hectare Wollogorang Station and 129,000 hectare Wentworth Station. 
The property can be reached by air from Cloncurry or Mt Isa, as well as accessed via the road network.
<img src="https://www.urban.com.au/images/2020/5/4/Wollogorang%20and%20Wentworth%20Stations%202.jpeg" alt="">
The properties’ natural attributes include reliable rainfall, with additional water sources including large creeks and seasonal lagoons.
There has been upgrades to the property's infrastructure including the installation of Lorentz solar bore pumps.
The main homestead comes with five bedrooms with contemporary features such as a cinema room.
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Mr Ma is one of the richest businessmen in China. He paid around $47 million in 2017 for the cattle station.  
The McMillan Pastoral Company is run by the large McMillan clan, which manages cattle across several properties in North West Queensland.
The property was sold by Bruce Douglas from Ray White Rural Queensland. 
 
https://www.propertyobserver.com.au/finding/location/rural/103879-wollogorang-and-wentworth-nt-cattle-stations-for-sale.html
https://www.abc.net.au/news/rural/2020-05-01/queensland-mcmillan-family-buys-wollogorang-and-wentworth-$53m/12102478
 
A Queensland family has bought a large cattle station on the Northern Territory/Queensland border from a Chinese billionaire for $53 million.
On Tuesday, the McMillan Pastoral Company settled a deal to buy Wollogorang and Wentworth Stations — which are run as one property straddling the border on the Gulf of Carpentaria — according to documents from the NT Land Titles Office.
The 700,000 hectare aggregation, which includes around 80 kilometres of coastline, was sold walk-in-walk out with around 27,000 head of cattle.
The properties were bought from one of the richest businessmen in China, Xingfa Ma, who owns a ball bearing manufacturing company, alongside beef and wine properties in Western Australia.
Mr Ma's company TBG Agri Holdings had owned Wollogorang and Wentworth since 2015, <a class="_2HoMm _31PBK _34Pu4" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/2015-07-16/chinese-billionaire-xingfa-ma-buys-nt-wollogorang-station/6623806" data-component="ContentLink">for which he paid around $47 million.</a>
The McMillan Pastoral Company is run by the large McMillan clan, which manages cattle across several properties in the Cloncurry region of North West Queensland.
Calvert Hills Station, which borders Wollogorang on its eastern boundary, was bought by the <a class="_2HoMm _31PBK _34Pu4" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/rural-news/2013-07-08/calvert-hills-sale/4808906" data-component="ContentLink">McMillans in 2013 for $15 million.</a>
<h2 class="_1LI2A _3_H8z SelAj _1t9H3 ZPXNE lxkD- mSYxO age8P" data-component="Heading">Properties suited to domestic and live export trade</h2>
Herron Todd White land valuer, Frank Peacocke, said Wollogorang and Wentworth would fit in well with the McMillans' other properties.
"They will likely use Wollogorang as a big breeder joint and they will be turning off their younger cattle down to Cloncurry to grow them out and fatten them up," he said.
"The cattle could go into the domestic market or onto the boats through Townsville.
"It's actually closer to Darwin, so they could [send cattle] that way also. They've got a few options."
The quick turnaround in ownership for such a large property is quite rare for the Northern Territory pastoral industry.
Mr Peacocke said the growth in pastoral value since 2015 was not reflected in the sale price.
"It was only four years, but in those four years there has been very strong growth in the pastoral asset space, [of] easily 30 per cent growth over that period," he said.
"[The previous owner] spent over $7 million on Wollogorang and Wentworth over that period, so add that onto the sale price [of $47 million], and if you did expect 30 per cent growth, this sale certainly doesn't show it.
"I think the McMillans have bought reasonably well."
<h2 class="_1LI2A _3_H8z SelAj _1t9H3 ZPXNE lxkD- mSYxO age8P" data-component="Heading">Chinese billionaire 'refocusing' investments</h2>
Speaking to ABC Rural in August last year after the station was put on the market, managing director of TBG Agri Holdings, Andrew Blythe, said the station had been "a great property" for the company, but it was looking to "refocus" its investments.
"We're focussing back on our investments in Western Australia," he said.
"We've got Emu Downs north of Perth and Balfour in the Pilbara.
"So we're focussing on those operations and developing a boxed-meat product for China for our shareholders."
Mr Blythe said the company had invested around $7 million into the property, including a major fencing project, upgrades to the homestead area and watering points.
"And we spent a lot of money on genetics for the property," he said.
"A lot of the herd was a mix when we bought it, but it's now pretty much 100 per cent Brahman bloodline."
The McMillan family declined to comment on the sale.
 
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McMillan family buys Wollogorang and Wentworth Stations 

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The long-standing Tewantin Market Garden on the Sunshine Coast has been snapped up for $1,025,000.
The 142sqm property at Shop <a href="https://ecomms.raywhite.com/collect/click.aspx?u=OEliUjcxeWE1ZEs2R3BZaUU4MjFYTFMzUWNUeUVSUVRzYlJqamhlUkd0Z1UrTkh0T2JQYy9wMGZuVUhVano0UzFCZkZoZXJucy9NUFVacFZLaE4rcWVBVFJXTjhhYTUxZW5oU2VlbXg0RVFxYUhQZDVxcitXZ1hKZTJKWlRYUE1FbVp4STQxOXJhd3BOcXkrNVM4TE1jMXc5M3hpZ3BkSTFseFNRMG1tZ1BOTTJIbkVUUDF1M3M1OFYreC9sNGI3&amp;rh=ff00611b95e6ae1e74f00323784ab13e69fb5d9d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2/93 Poinciana Avenue</a> was completed in 2016 and formed part of the ‘Tewantin Place’ strata complex.
It was sold by David Brinkley and Tracey Ryan from Ray White Commercial Noosa and Sunshine Coast North to an interstate investor. 
Tewantin Market Garden relocated from a below street level position within Tewantin Plaza further up the street. 
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“The tenants had made the decision to relocate to this site on the Poinciana street front to enhanced their business and benefited their customers," Brinkley said.
The property was first for sale as an off-market proposition until final agreement was reached five months later.    "Tewantin is a busy retail centre which is undergoing a revitalisation as the demographic in the area moves away from retirees to young families investing in the large blocks at prices slightly below neighbouring Noosa," Brinkley said. 
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Tewantin Market Garden freehold sells for $1 million

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The market throughout Gold Coast North West, Scenic Rim and Lower Logan region covers a wide range, from older housing to brand new estates, according to a recent Herron Todd White residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
The report suggests investors traditionally forming a large proportion of purchasers in this region across all categories.
"The record low interest rates have influenced buyers in this region, keeping purchasing activity steady. Record low rates inevitably correlates to higher debt levels as money gets cheaper," the valuation firm said. 
Some home owners have been unable to sustain payments at the higher debt levels and as a result, there have been more mortgagee in possession sales occurring in recent months.
Price point has always been the big lure to investors in this region with Sydney and Melbourne buyers able to buy several houses here for the same price as only one in their home towns, the report noted. 
A current offering in the Scenic Rim Region's Beaudesert is a three bedroom house priced at over $299,000.
The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-beaudesert-133447382" target="_blank">5 James Street </a>(pictured below).
It features modern kitchen, air-conditioned living area, undercover deck and garden shed.
<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/2020/5/18/beaudesert%202.jpg" alt=""> 
"Rental returns have always been top of the list of attributes for interstate buyers with many older style properties achieving rental returns that are positively geared or very close to it. We have also seen a large rise in the dual occupancy market in new housing estates," the valuation firm said. 
Buyers can build a dual occupancy dwelling on a site larger than 400 square metres with most construction and land packages costing between $500,000 and $560,000 and achieving between $630 and $680 per week rent.
"When combining the calculation of these returns with the benefit to the investor in potential capital gains, they become quite an attractive offer.
"We are also seeing an oversupply of townhouses and low rise units in and around Beenleigh with new products seeing very large discounts on resale and some developers advising that it is difficult to build product and maintain profit." 
A Beenleigh two bedroom Unit within a small secure complex has recently been sold for $255,000.
The property at <a href="https://www.realestate.com.au/sold/property-unit-qld-beenleigh-132990970" target="_blank">7/35 Solar Street </a>(pictured below) was last sold in 2008 for $250,000.
It comprises two bedrooms, two bathrooms, open plan living and outdoor entertainment area. 
<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/2020/5/18/beenleigh.jpg" alt="">
<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Purchasing activity keeps steady in Gold Coast North West property market: HTW residential 

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The biggest driver for people buying in the Tweed region is lifestyle choice, according to a recent Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. 
"Most buyers we are seeing across the shire are owner-occupiers or people purchasing a weekender," the valuation firm said. 
The region does not have a lot of local employment or major industry and it is becoming more common that people are relocating from Sydney, Melbourne, Brisbane and the Gold Coast and working from home or flying or driving during the week if need be to work in the cities.
There are also people relocating from the Byron Shire to the Tweed Shire as affordability in the Byron Shire is at record high levels. This is particularly the case for the towns along the coast or rural residential properties east of Murwillumbah, the report noted. 
"Price points are particularly strong in the coastal towns due to lack of stock available. This in turn is pushing up property prices and even with all the doom and gloom of the Coronavirus, agents are advising that demand is quite strong," the valuation firm said. 
It doesn’t seem to matter what type of property buyers are purchasing in the coastal towns; location is more important to buyers, the report noted. 
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"Price points in Murwillumbah are strong for older dwellings as buyers want character dwellings close to town. The modern dwellings located in the estates on the outskirts of town are becoming a harder sell for agents and the market is seeing a flood of this property type with little movement," the valuation firm said. 
A five bedroom family home in Murwillumbah has been recently sold for $520,500. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-murwillumbah-133292342" target="_blank">11 Thompson Street </a>house (pictured below) was offered for sale for the first time in 52 years. 
It features light filled kitchen area, enclosed sunroom, utility room workshop area and fully-fenced backyard. 
<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/2020/5/18/murwillumbah%20.jpg" alt="">
"First home buyers are looking to duplexes in Banora Point or go further inland to Murwillumbah to get a foot in the market since these dwelling types are at the cheaper end of the market and still priced under $500,000." 
A current listing is a Banora Point three bedroom duplex priced at $500,000.
The <a href="https://www.realestate.com.au/property-duplex+semi-detached-nsw-banora+point-133233234" target="_blank">2/3 Grassmere Court </a>home (pictured below) comes with renovated kitchen, light-filled living areas, and double garage. 
It also features ceiling fans, timber-look laminate flooring and outdoor entertaining area. 
<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/2020/5/18/banora%20point.jpg" alt="">
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<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
 
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Demand for Tweed Shire properties remain strong in the time of coronavirus pandemic: HTW residential 

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When most people think of the Central Queensland economy, they think of the resource sector, particularly coal and gas, according to a recent Herron Todd White (HTW) residential repot. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. 
"Yes, it is true that Rockhampton itself is heavily influenced by these two mega industries however in addition to this, the Rockhampton region is considered to be one of the most diverse economies within central and regional Queensland," the valuation firm said. 
The region thrives on a range of other industries including acting as a regional government hub, being one of the top two regional Queensland towns for education services and facilities, a huge agriculture basis and it has always been a long term hub for the railway, construction and defence industries. It is also seen as an emerging tourism destination.
The report suggests this diverse range of employment industries has seen Rockhampton minimise its volatility over the past decade with limited numbers of swings in the property market compared to neighbours such as Gladstone to the south, Emerald to the west and Mackay to the north.
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"After a slowly declining six year period from late 2013 to mid 2019, we have finally started to see the property market respond in a positive way with growth recorded in both sales activity and sale prices across many sectors of the market in the past six to nine months.
"So what’s driving this change, you may ask. Well in hindsight, the catalyst that turned the ship around was the largely unexpected federal election result in May 2019 when unprecedented swings across regional Queensland resulted in a massive boost in confidence to the resource sector," the valuation firm said. 
Production increased during the back half of 2019, creating a wave of new jobs and increased confidence.
"Initially we saw a tightening of the vacancy rates for rental properties which quickly resulted in increased rents. Sales followed suit shortly afterwards," the valuation firm added. 
In more recent times, government infrastructure spending is at an all time high with multi million dollar projects currently underway including the duplication of the Capricorn Highway between Rockhampton and Gracemere, the Parkhurst Highway upgrade, a billion dollar Rockhampton Ring Road project and ongoing Defence Force projects to name a few.
"Of course as I write this the COVID-19 outbreak is impacting the world and Australia. Unprecedented times and its impact is already having a disastrous effect on all levels of the economic front. The extent of its impact locally on the property market is still largely unknown.
"Hopefully the powers at be are making the right decisions in managing this crisis and we all get through this together sooner rather than later." 
A riverside apartment in Rockhampton City was sold for $485,0000 in April.
The <a href="https://www.realestate.com.au/sold/property-unit-qld-rockhampton+city-133093578" target="_blank">505/2-4 Victoria Parade </a>home (pictured below) comprises three bedroom, two bathrooms, open plan kitchen, dining and living area, and two parking spaces.
It features separate laundry, storage space, full-length balcony and views of Fitzroy River and mountains. 
<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/2020/5/18/rockhampton%202.jpg" alt="">
A current listing is a Rockhampton brick home priced at $249,000.
The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-rockhampton+city-133307910" target="_blank">54 Denison Street </a>(pictured below).
It is situated close to hospital buses and shopping centres. 
<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/2020/5/18/rockhampton%203.jpg" alt="">
<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
</div>
</div>
</div>
</div></body></html>

The impact of COVID-19 pandemic on Rockhampton property market remains unknown: HTW residential 

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GUEST OBSERVATION
Australia Bureau of Statistics data has confirmed the massive economic hit from the COVID-19 pandemic, with total hours worked across the economy officially falling 9% between early March and early April 2020.
Our analysis, using data from the quarterly <a href="https://csrm.cass.anu.edu.au/research/publications/hardship-distress-and-resilience-initial-impacts-covid-19-australia" target="_blank">ANUpoll</a>, suggests the self-employed have been hit harder, with average weekly hours dropping by almost a third between February and April 2020. More than eight out of 10 self-employed Australians say their profits have taken a significant hit.
Decline in hours worked for the self employed
The ANUpoll is an important economic and social barometer in Australia because it is a longitudinal survey – polling the same group of people multiple times throughout the year. This enables a more accurate snapshot of how individuals are being affected.
The <a href="https://csrm.cass.anu.edu.au/research/surveys/anupoll" target="_blank">data we are releasing today</a> was collected from 3,155 Australians between April 14 and April 27.
It shows the 32% drop in hours worked by the self-employed (from 35.2 to 23.8 hours) was about double that of all employees, whose hours declined by 16% (from 35.5 to 29.7 hours).
The following infographic illustrates the degree of decline for all the self-employed in the poll (about 240 people). The blue dots above the red line show those working more hours in April; those below the line show those working less. Note the number at or near zero.
<a href="https://images.theconversation.com/files/335284/original/file-20200515-138620-1no37fw.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/335284/original/file-20200515-138620-1no37fw.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Comparing weekly hours worked by the self-employed in February to April 2020. ANU Centre for Social Research and Methods, Author provided
Almost a third said their business would be unviable if financial trends continued for two months. If trends persisted for six months, 40% doubted they could survive.
The impact on savings and wellbeing
The proportion of self-employed saying they were finding it difficult or very difficult to survive on their current income increased from 29% to 36%.
<a href="https://images.theconversation.com/files/335327/original/file-20200515-138654-8u4t3i.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/335327/original/file-20200515-138654-8u4t3i.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Proportion of people finding it difficult or very difficult on their current income, by employment type. ANU Centre for Social Research and Methods
This contrasts with an aggregate improvement among employees, most likely due to higher payments for those on lower incomes, such as the A$750 given to social security recipients.
21% of self-employed respondents said they had accessed retirement savings or superannuation early, compared with 7% of employees.
Among those thinking their business was unviable, 69% reported feeling anxious and worried, compared with 59% of those thinking their business was viable. Life satisfaction was also lower (5.6 out 10 compared to 7.0).
What does this mean for the self-employed in 2020?
Current policies includes a large amount of targeted assistance for the self-employed. Without that assistance, the outcomes summarised above would be far worse.
As physical distancing restrictions are eased, it will be important to continue to monitor how the self-employed are faring to ensure the level of government support is sufficient and well-targeted.<img src="https://counter.theconversation.com/content/138718/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/matthew-gray-229834" target="_blank">Matthew Gray</a>, Director, ANU Centre for Social Research and Methods, <a href="https://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a> and <a href="https://theconversation.com/profiles/nicholas-biddle-10171" target="_blank">Nicholas Biddle</a>, Professor of Economics and Public Policy, ANU College of Arts and Social Sciences, <a href="https://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/self-employed-australians-hours-have-fallen-32-since-coronavirus-hit-double-the-impact-on-all-employees-138718" target="_blank">original article</a>.
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Self-employed Australians’ hours have fallen 32% since coronavirus hit double the average

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Staff reporter

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