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The Mildura region has yet to see a reduction in local buyer demand, but sales volumes are expected to stay low for the next few months, according to the latest rural report from valuation firm Herron Todd White.
Rural industries will most likely wait to see what the medium-term outlook will be on the operation of domestic and export markets, say HTW’s Shane Noonan and Graeme Whyte.
“While Australian agriculture appears to be weathering the COVID-19 period, the main concern is how quickly the global and national economies will recover from the pandemic.”
The long-term continuation of border closures or travel restrictions may have some detrimental impact on sale activity and value levels.
A farming family of Victoria’s Wimmera region recently purchased a grazing holding just over the border in South Australia but are now unable to enter the state and access their property.
According to the report, positive seasonal conditions and forecasts in the Murray Darling Basin are likely to see the temporary water market remain around current levels in the short term.
Recent sales in the region include an 82 ha table grape property in the Euston area and a large dryland cropping holding northeast of Mildura.
Each of these sales show rates per hectare above pre-COVID-19 levels.
The full Herron Todd White 'Month-in-Review' for September can be read <a href="https://static.htw.com.au/HTW-month-in-review-September-2020-Rural.pdf">here</a>.
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j.ballantyne1990-6AQqhLzZaK

Mildura rural property weathers the storm of COVID-19: HTW Rural

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Sydney saw a preliminary clearance rate at 72.2 per cent after 435 reported results were received.
Of these, 67 properties withdrawn from auction and there are further results yet to be be advised from the 610 scheduled auctions on Saturday in Sydney.
One of the big sales saw a non-harbourfront Vaucluse semi (above and below) sell for $5.5 million.
Domain reported the two-bedroom home at 10 Coolong Road, on the market for the first time in 45 years, was knocked down to near neighbour, estate agent Alexander Phillips.
There were nine registered parties who took the bidding at the Sotheby's auction to $2 million over reserve.
<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/2020/9/21/Coolong%202.jpg" alt="">
CoreLogic figures had a 72.4 per cent clearance from the 562 reported results of its 679 scheduled auction tally.
It was up on the previous week's preliminary 70.4 per cent rate which was revised down to 65.9 per cent after late results.
Canberra saw a preliminary clearance rate of 89 per cent after 65 reported results of its 74 scheduled sales.
It was 64 per cent in Adelaide and 61.9 per cent in Brisbane.
There were only 13 auctions scheduled across Victoria on Saturday, with in-person auctions resuming in regional Victoria.
An older-style home in Edithvale sold under the virtual hammer with 84 Rae Avenue fetching $963,500.
It sold to a developer, Domain reported.
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Sydney auction success rates sits in the 70s

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The Melbourne-based Deague family is suing over its recent $3 million investment in a $150 million Brisbane apartment project.
Deague Capital has sued the Australian arm of Alvarium and its local managing director Bernard Treacy.
The Brisbane Times reported a Supreme Court of Victoria writ was filed last month.
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The Deague's investment arm alleges Alvarium informed it of a development opportunity in the Ambrose apartment complex in Milton (above and below) shortly before the envisaged $48 million to $50 construction contract was set to be signed in February this year.
<img src="https://www.urban.com.au/images/2020/9/21/Ambrose%202.png" alt="">
Designed by architects, Cottee Parker, and Glam Studios, the 19-storey development will have 181 apartments.
The Deague investment was $3 million via a cash loan and the purchase of shares.
The Deagues allege they were misled into investing in the project which had a much larger signed $62 million construction cost signed off in July.
Tracey and Alvarium are yet to file their defences in the proceedings, The Brisbane Times advised.
The Brisbane Courier Mail reported in April it was a $150 million project.
It was in July last year when the 19 McDougall Street development got its current approvals.
The pricing was advised as from $400,000 for one-bedders and up to $2.4 million for three-bedroom apartments,
The developer purchased the 2000 square metre site for $12.75 million in 2017.
There has been an initial proposal by Kokoda Property, when it was known as the Obsidian site, in early 2017 with an $87 million estimated value.
Construction had been scheduled on the initial proposal to start in mid-2018 and completed in 2020.
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Deague family sues over Ambrose, Milton apartment investment 

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Victorian land buyers continue to lock in purchases despite the State’s strict lockdowns, with developer and government incentives encouraging many to push ahead despite being unable to visit most estate.
The State’s leading project marketing group Oliver Hume has achieved an average of 70 reservations per week over the last six weeks as a result of new innovative processes for selling land as well as a sales and marketing team that have lead the way in educating buyers virtually.
Oliver Hume has also launched a new $25,000 initiative which matches the Federal Government’s $25,000 Home Builder grant. The $25,000 Perfect Match campaign is available at selected projects marketed by Oliver Hume. Buyers can also utilise Oliver Hume’s new online deposit system which has experienced strong demand during lockdowns.
Oliver Hume Chief Executive Officer Julian Coppini said the new bonus had been in high demand since it was launched in late August.
“While buyer demand has been impacted by the lockdown we are still seeing strong levels of enquiry and sustained sales which has our current sales rate still higher than March, April and May before the HomeBuilder grant was announced,” he said.
“Many buyers have understood the new processes due to being in a lockdown and are happy to rely much more on digital presentations, inspections and communication as part of their purchase decision.”
“Buyers understand the extraordinary nature of the current market and appreciate the opportunity to utilise the support measures and grants from the state and federal governments in conjunction to developers providing attractive offers in market”
“The incentives and grants combined with low interest rates have generated some of the best buying conditions in a generation.”
Mr Coppini said the industry was quickly adapting to managing sales through the lockdowns with buyers becoming more confident navigating the purchase decision in a fully digital environment.
“Oliver Hume is thankful for the ongoing digital transformation it started on years ago as it has been a major benefit to our vendors and purchasers over the last six months. Many of the systems and processes we have put in place will become permanent features in the land buying process,” he said.
Earlier this year, Oliver Hume launched a new digital deposit platform that allows buyers to secure and pay a deposit on their new block of land, without ever visiting a sales office or meeting in-person with a developer representative.
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Victorian land sales are holding up as grants kick in: Oliver Hume

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There are 968 capital city auctions being tracked by CoreLogic this week, increasing on the previous week when 816 auctions were held.
Over the same week last year, 1,983 homes were taken to auction across the combined capitals.
There are 726 Sydney homes scheduled for auction this week, increasing on both last week when 600 Sydney homes were taken to auction, and one year ago, when 646 auctions were held across the city. 
Melbourne auction volumes remain at levels usually only seen over the seasonally quiet early January period with just 14 auctions on the radar this week, compared to 13 last week. Over the same week last year 1,020 auctions were held across the city.
The REIV is expecting about 20 auctions this week, only slightly more than CoreLogic's figures.
Across the smaller auction markets, Canberra is set to hold the most auctions this week (74), followed closely by Adelaide (73). Brisbane is expecting to host 66 auctions, while Perth has 13 auctions on the radar. Once again, Tasmania is set to see just 2 properties up for auction.
<img src="https://www.urban.com.au/images/2020/9/18/CL%20SEPT%2018.JPG" alt="">
Australia’s largest property market is shaking off the cold weather as spring selling season continues to bring in premium stock for the leading agency.
In Sydney’s inner city suburbs, Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho said first home buyers have been lining up to inspect 5/191-195 Bridge Rd, Glebe (pictured in title).
The auction will be called by Ray White NSW CEO Jason Andrew. Mr Carvahlo noted that feedback has been at the $1 million to $1.1 million mark.
<img src="https://f.datasrvr.com/f1/220/74656/Petersham.JPG" width="640" data-imagetype="External">
The successful buyers may need to cool off at Bondi Beach after what is expected to be a hot auction 5/312 Bondi Rd.
The two bedroom apartment is being sold through Ray White Woollahra | Paddington Director of Sales Clay Brodie who said he has overseen roughly 100 inspections on the home.
“Buyers are interested in the beachside location but have also been really impressed by the scale and quality of the renovations the owners have done,” Mr Brodie said.
The Bondi Road apartment has a price guide of $1,100,000 and the auction will also be conducted by NSW CEO Jason Andrew.
Ray White Petersham Director Nicholas Arena has also had a huge amount of interest on 38a Constitution Rd, Dulwich Hill (pictured above) after more than 120 groups inspected the four bedroom home. Mr Arena said he is confident of a great result this weekend.
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Spring selling season is starting to show results in Sydney

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The entire ground floor retail component of the new Silk development in Ascot has been sold to one of the Coffee Club founders, Emmanual Drivas for $6 million.
Silk at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=OWFpWUxRYW1kY2dqaUE0aEpRNVRVTjRCS2drZkZzdHEvVUg2UmFFUGNOeWdTazRUYUlkckhaT3dYWTRReFltc1B0WE00TDd5Zk9kd2k0bVJqUERIWnRYN3Z6QmxqVTY4TnlNcVhhcjN5a3I2YXZvWmhFYUluZUNLbjJibGNUUDJDaUYvaDlSdlZBRWgvNG1OYU9TRjlLaEJwajN3RkNxdw==&amp;rh=ff0068e2421fea6fb8e87e3a7e4681e1bc9132ca" target="_blank">118 Racecourse Road</a> is the latest prestige creation of Brisbane’s Geocal Group and Loucas Zahos Architects.
Silk comprises 11 large residential apartments over the two top levels, two levels of car parking, almost 700sq m of first level commercial space and 600sq m of prime ground floor retail space.
The ground floor retail component was sold by Ray White Commercial QLD father and son duo Stephen and Elliot Kidd.
The duo have now completed the sales of the entire commercial floor with all seven assets now under contract or settled.
Mr Stephen Kidd said the Silk development was breathing life back into one of Brisbane’s most prestigious addresses.
“The building is certainly a stand-out landmark for the street, with the sophisticated architecture by local award-winning firm, Loucas Zahos,” Mr Stephen Kidd said.
“One of the real attractions to the building was the opportunity for local businesses to own their own tenancy vs rent, which has led to strong demand for the commercial space. Of the seven tenancies under contract or settled, all of them have been purchased by owner operators.
“The ground floor retail space will comprise a well-known and enhanced local café/restaurant, skin clinic (already trading), and a mix of food and services.”
“The project was officially completed in July and represents a vote of confidence in one of Brisbane’s wealthiest postcodes,” Mr Elliot Kidd said.
Mr Kidd said it showed that developers were still finding ways to create special projects that left a lasting impression and he was looking forward to seeing people at Silk soon.
 
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Coffee Club founder pays $6m for ground floor of Ascot's ‘Silk'

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A growing number of land developers are conspiring to advertise high-risk house and unregistered land packages that hasn’t been titled by local councils.
Inexperienced first-time buyers need to beware before purchasing these properties.
Buyer’s agency DPP Property founder Zaki Ameer warns that when developers promote unregistered land, there’s usually a hidden risk attached.
First-time buyers may be conned into paying deposits for the packages with the aim of utilising the $25,000 HomeBuilder grant, which will finish at the end of this year.
However, in most cases, councils delay title processing on unregistered land, often up to 12 to 18 months.
“So, immediately, [first-time homebuyers] are giving back $25,000 on any savings they might have made on the package”, Ameer said.
Buyers are also locked into the contract until the full payment due date, which could be up to 48 months away, leaving them at risk of being sued by developers and builders if they have to forfeit the land purchase.
Ameer is calling for state governments to tighten land sale regulations, especially to first time home buyers who can easily fall prey to colourful marketing tactics.
The DPP Property founder also hopes governments put an end to delayed settlements.
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First home buyers urged to avoid buying unregistered land

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Sales results from 195 projects representing a sample of 23% of active apartments surveyed across Perth, Brisbane, The Gold Coast, Sydney and Melbourne study areas. 
2,300 projects monitored across all stages of potential new supply.
Data in the second quarter of 2020 (April to June) represents the first full quarter of COVID-19 trading in Australia following measures introduced in March to contain the virus.
Impact on off the plan sales can be seen with the clearance of available stock dropping to 10% as a national average. Whilst this represents a 5 percentage point drop on the previous quarter (which registered 15%), the speed of sale for the quarter remains comparable to the average over the last 18 months (10%).
Prior to COVID19 the apartment market was showing signs of momentum on the back of wider housing market growth. The first signs of impact from COVID-19 are visible in the second quarter, although demand levels have remained at similar levels seen this time last year in Q2 2019 data. 
New Apartment Rents
Data from the Urbis Rental Tracker shows well located new apartments continue to attract a premium over the wider market rent but have also been impacted in the short term by restricted people movement and economic challenges.
New product rents peaked in February in most markets nationally.  Rapid drops in rent were seen in March (6%) and April (3%) as inner-city markets were hit by a halt to in-migration and a spike in listings (average listing volume is 14% up on this time last year).  However, this quickly stabilised in June and July indicating the rental market has been able to adjust to supply and demand conditions rapidly. 
New Apartment Supply
New Project Launches have continued to decline, enabling existing stock to be absorbed. Only 23 new projects launched nationally in Quarter 2 2020 – compared to 60 projects a year ago in Quarter 2 2019.
Data for the first half of 2020 follows a continued downward trend. If the current rate of launches were to continue for the remainder of 2020 this would bring the annual total to around half the volume of projects launched in 2019, which was already half the average of the previous four years.
With the volume launching, in marketing and under construction all diminishing, market attention switches to absorbing newly completed stock. This offers buyers the advantage of viewing the finished product and suits those residents seeking a move in the short term. Owner occupiers were the most active purchaser group in each state surveyed in the quarter.
Across all projects there is an overall reduction in volume selling of 8% compared to this time last year with further reductions in volume to come given the declining launch rate.
Change in volume of apartments selling nationally by project status
While the apartment market adjusts to changing conditions, any associated reduction in housing delivery impacts upon economic activity in the short term and housing supply and affordability in the longer term.  Therefore, we expect stimulus and innovation to be in focus in the year ahead as industry and government seek to sustain housing production throughout the cycle.
This presents opportunities to stimulate build to rent housing supply and more diverse tenure options that help meet the absorption of current stock and affordability needs of customers.
The Melbourne market
Like the national results, speed of sale dropped in Melbourne from 11% of available stock clearing in Q1 2020 to 9% in Q2 2020 as prices held firm.
The apparent resilience of the market, much like the people of Melbourne will continue to be tested throughout the lockdown periods of 2020.
The supply story in Melbourne was mixed for the quarter. The volume of new project sales launches continued to trend down, with only 6 new projects launched in the quarter, compared to a quarterly average of 19 throughout 2019. However, approvals increased in the quarter to levels last seen in Q4 2018.
This bucking of the trend on approvals reflects the proactive response from government in fast-tracking shovel ready projects and the confidence of the development industry in Melbourne’s future.  This is encouraging for supporting future supply as the market recovers ground from the pause on demand placed by border and movement restrictions.
We expect further engagement will benefit housing delivery in this part of the cycle to drive economic activity in the short-term and speed up Melbourne’s response to future changes in demand.
National Build to Rent Insights
There has been an inverse between the build to sell apartment pipeline and that for Build to Rent, with build to sell supply declining and build to rent gaining momentum. 
We have seen decreasing rates of sale of available stock (exacerbated by COVID 19), leading to the increasing supply in apartments. 
Developers are shifting to Build to Rent, as an option to diversify their portfolio and reduce financial risk, while also moving sights quicker while there is minimal traction in the build to sell market.
APARTMENT SALES DOWN IN Q2 BUT SHOWING SIGNS OF RECOVERY New Apartment SalesSales results from 195 projects representing a sample of 23% of active apartments surveyed across Perth, Brisbane, The Gold Coast, Sydney and Melbourne study areas. 2,300 projects monitored across all stages of potential new supply.Data in the second quarter of 2020 (April to June) represents the first full quarter of COVID-19 trading in Australia following measures introduced in March to contain the virus.Impact on off the plan sales can be seen with the clearance of available stock dropping to 10% as a national average. Whilst this represents a 5 percentage point drop on the previous quarter (which registered 15%), the speed of sale for the quarter remains comparable to the average over the last 18 months (10%).Prior to COVID19 the apartment market was showing signs of momentum on the back of wider housing market growth. The first signs of impact from COVID-19 are visible in the second quarter, although demand levels have remained at similar levels seen this time last year in Q2 2019 data. New Apartment RentsData from the Urbis Rental Tracker shows well located new apartments continue to attract a premium over the wider market rent but have also been impacted in the short term by restricted people movement and economic challenges.New product rents peaked in February in most markets nationally.  Rapid drops in rent were seen in March (6%) and April (3%) as inner-city markets were hit by a halt to in-migration and a spike in listings (average listing volume is 14% up on this time last year).  However, this quickly stabilised in June and July indicating the rental market has been able to adjust to supply and demand conditions rapidly. New Apartment SupplyNew Project Launches have continued to decline, enabling existing stock to be absorbed. Only 23 new projects launched nationally in Quarter 2 2020 – compared to 60 projects a year ago in Quarter 2 2019.Data for the first half of 2020 follows a continued downward trend. If the current rate of launches were to continue for the remainder of 2020 this would bring the annual total to around half the volume of projects launched in 2019, which was already half the average of the previous four years.With the volume launching, in marketing and under construction all diminishing, market attention switches to absorbing newly completed stock. This offers buyers the advantage of viewing the finished product and suits those residents seeking a move in the short term. Owner occupiers were the most active purchaser group in each state surveyed in the quarter.Across all projects there is an overall reduction in volume selling of 8% compared to this time last year with further reductions in volume to come given the declining launch rate.Change in volume of apartments selling nationally by project statusWhile the apartment market adjusts to changing conditions, any associated reduction in housing delivery impacts upon economic activity in the short term and housing supply and affordability in the longer term.  Therefore, we expect stimulus and innovation to be in focus in the year ahead as industry and government seek to sustain housing production throughout the cycle.This presents opportunities to stimulate build to rent housing supply and more diverse tenure options that help meet the absorption of current stock and affordability needs of customers.The Melbourne marketLike the national results, speed of sale dropped in Melbourne from 11% of available stock clearing in Q1 2020 to 9% in Q2 2020 as prices held firm.The apparent resilience of the market, much like the people of Melbourne will continue to be tested throughout the lockdown periods of 2020.The supply story in Melbourne was mixed for the quarter. The volume of new project sales launches continued to trend down, with only 6 new projects launched in the quarter, compared to a quarterly average of 19 throughout 2019. However, approvals increased in the quarter to levels last seen in Q4 2018.This bucking of the trend on approvals reflects the proactive response from government in fast-tracking shovel ready projects and the confidence of the development industry in Melbourne’s future.  This is encouraging for supporting future supply as the market recovers ground from the pause on demand placed by border and movement restrictions.We expect further engagement will benefit housing delivery in this part of the cycle to drive economic activity in the short-term and speed up Melbourne’s response to future changes in demand. National Build to Rent Insights There has been an inverse between the build to sell apartment pipeline and that for Build to Rent, with build to sell supply declining and build to rent gaining momentum. We have seen decreasing rates of sale of available stock (exacerbated by COVID 19), leading to the increasing supply in apartments. Developers are shifting to Build to Rent, as an option to diversify their portfolio and reduce financial risk, while also moving sights quicker while there is minimal traction in the build to sell market. 
 
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Apartment sales showing signs of recovery: URBIS

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After four years of record low transactions, culminating in the lows of 2019 where there was a 55 per cent decrease in the number of sales compared to 2005, it’s clear that the property industry needs stimulus to attract buyers and investors back into the market.
REIWA President Damian Collins said the Western Australian property market is an integral part of the state’s economy which provides housing and a regular source of income for the State Government of WA.
“REIWA’s plan for prosperity post COVID-19 outlines recommendations that we believe will help boost the economy and enable more people to enter the property market,” Mr Collins said.
Reform stamp duty to boost WA’s economic recovery
REIWA is calling on the WA Government to commit to a full state tax review and feasibility study of a two-stream revenue collection approach to stamp duty.
“A two-stream approach would allow buyers to decide whether to pay the stamp duty upfront, or whether to opt in for an annual fee for the duration of ownership, with the reduction in upfront costs encouraging more transactions with a significant flow on effect to economic activity,” Mr Collins said.
Introduce a $10,000 stamp duty concession for seniors over the age of 65 to encourage appropriate ‘right sizing’
Not only is stamp duty a hindrance to affordability, it limits household’s ability to make appropriate housing decisions in accordance with their lifestyle choices, changing needs or economic reasons.
“In order to ensure WA has the right mix of housing options and diversity to meet the changing needs of the community, REIWA recommends that seniors’ households should be given the opportunity to right size and free up their existing housing by obtaining a concession on stamp duty costs for their next home,” Mr Collins said.
Formalise the stamp duty rebates for off-the-plan-purchases
“The current 75 per cent stamp duty rebate for buyers of off-the-plan and under construction apartments has been vital in ensuring an ongoing pipeline of projects, which in turn ensures a steady supply of diverse housing and jobs for West Australians.
“If a person bought an off-the-plan apartment prior to the rebate they paid stamp duty on the combined value of the land and the build, compared to a house-and-land package that is taxed solely on the value of the land.”
To keep off-the-plan apartments in line with house-and-land packages, REIWA recommends making the 75 per cent rebate permanent.
Remove stamp duty on the purchase of small businesses
WA is one of three states or territories that continues to collect stamp duty on a business purchase. A buyer who purchases a business to a value of $5 million will be liable for $251,415 in stamp duty.
“If stamp duty was abolished for the purchase of a small business, the potential saving could go towards employing five staff members on a full-time basis or 10 apprentices.
“With businesses facing even bigger challenges due to the impacts of COVID-19, we need to be encouraging people to buy small businesses which will create much-needed jobs, generate additional spending, as well as giving a helping hand to those who need to sell.”
Reintroduce the $7,000 first home owner grant for the purchase of existing dwellings
In 2019, the number of first home buyers reached its lowest levels since 2011 at just 13,653 and of those, 8.285 were for established properties and 5,368 were new homes.
“Allowing first home owners access to the $7,000 grant for established homes could increase their purchasing power and encourage more buyers, resulting in more stamp duty from the trade-up market.” Mr Collins said.
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REIWA's plan for post-covid property prosperity

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EXPERT OBSERVER
The inner-city Brisbane unit market, already hit hard by unit oversupply, continues to remain a huge danger zone for investors since the advent of COVID-19.
Not only is equity risk the major issue for investors, increased vacancy rates and risk to cash flow are also heavily impacting the market.
According to RiskWise Property Research CEO Doron Peleg, things have not improved in the market since the pandemic hit and, if anything, have become worse.
“RiskWise reported in July 2018 that there were 14,813 units in the pipeline in inner-city Brisbane for the next 24 months, being an addition of 20.1 per cent of the current stock,” Mr Peleg said.
“Two years later and there is still a very high level of supply with 5,431 units in the pipeline, making up an addition of 5.9 per cent of the current stock.”
Pete Wargent, co-founder of Buyers Buyers, a national marketplace now offering affordable buyer’s agent services to all Australians, said that rental demand had been weak for CBD apartments for some time.
“The trend has been exacerbated by the pandemic, and CBD rents have been very soft” Mr Wargent added.
Analysis by RiskWise in 2018 showed unit over-supply in inner-city Brisbane had created weakness in the market leading to an elevated level of risk for investors and, therefore, lower valuations and rising defaults on settlements.
“The issue of oversupply is not a new problem and has been there for a few years and the continuous weakness of the unit market in inner-city Brisbane should raise red flags for developers and lenders,” Mr Peleg said.
“Defaults have been rising and will continue to do so.
“One of the key factors has been developers’ lack of foresight regarding unit oversupply as well as the impact of lending restrictions introduced from 2014. It seems there has been no methodological and structured risk-management approach including identification, assessment, and mitigating action plans to address those risks.
“This takes us back to the feasibility stage which includes the assessment of the projected fair market value and the likelihood of defaults and their potential consequences. Developers and lenders must find the right balance between taking risk and making profit.
“COVID-19 has only served to increase the risk. Currently, there are many high-rise properties being offered to a smaller number of investors. This is because there are less investors in the market due to the pandemic.
“The point is that if developers and lenders had put more proper risk-management practices in place, this could all have been avoided.”
Mr Peleg said it must also be remembered the value of off-the-plan property could decrease between the original contract date and settlement resulting in capital loss, as the equity in the home could be reduced, and this was well known in inner-city Brisbane.
He also stressed that investors buying rental apartments unsuitable for families were taking an enormous gamble, with both equity and cash flow risk expected to materially increase. Serviceability is also a major factor for investors who rely on a stable rental income to cover the costs associated with property and particularly the mortgage.
Mr Wargent of Buyers Buyers said houses for investors often carried significantly lower risk for those with the right budget because renters, especially in the more established suburbs, included families and, in many cases, those with permanent full-time jobs. They were also more likely to deliver good medium and long-term capital growth.
Additionally, as rental properties are not fully substitute products with owner-occupied dwellings, there is inherent risk associated with them as they do not appeal to families looking for three bedrooms, with outdoor space, close to schools, transport, and employment hubs.
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Unit oversupply remains an issue in Brisbane CBD: RiskWise's Doron Peleg

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

Staff reporter

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