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<p>An architect designed home nestled on a 1,608sqm block in Gold Coast's Broadbeach Waters has been sold for $5.7 million.</p>
<p>The 853 sqm house at <a href="https://www.realestate.com.au/sold/property-house-qld-broadbeach+waters-133598326" target="_blank">327 Monago Street</a> comprises 7 bedrooms, 7.5 bathrooms, designer kitchen and multiple indoor and outdoor living and entertaining areas. </p>
<p>The light-filled living and dining zone comes with wood-burning fireplace, custom-built cabinetry and electronic blinds. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/broadbeach%20waters%201.jpg" alt=""></p>
<p>There is an executive office with library, plus separate office or boardroom with separate entrance. </p>
<p>The home also features rumpus room, water frontage, outdoor dining pavilion, pool, and water features.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/broadbeach%20waters%203.jpg" alt=""></p>
<p>It is situated close to Albert Part, Star Casino and golden beaches. </p>
<p>Michael Kollosche and Ryan Ward from Kollosche Broadbeach sold the property. </p>
<p>It was last sold in 2015 for $3.15 million. </p>
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j.ballantyne1990-6AQqhLzZaK

Broadbeach Waters waterfront trophy home sold for $5.7 million

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<p>Melbourne's housing affordability and liveability improves on slightly in the 1st half of 2020 compared to the 2nd half of 2019, reveals PRD's <em>Affordable and Liveable Property Guide Melbourne 1st Half 2020</em>. </p>
<p>Housing affordability in VIC declined in the 12 months to Q1 2020, with the proportion of income to meet home loan repayments increasing by 8.4 per cent. On the other hand, the level of first home buyer loan activity increased by 24.4 per cent in the same period. A substantial increase in demand is potentially due to government first home buyer incentives.</p>
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<p><span>Affordable and liveable house suburbs (those with a maximum property sale price of the VIC average home loan plus a 90 per cent premium), as per the </span><span>2nd Half 2019</span><span>μ </span><span>report, exist. Example suburbs include Preston, Greensborough, Greenvale, Oak Park, and Forest Hill. In the 1st half of 2020, 103 suburbs fell within this price range, a slight improvement compared to the 100 suburbs previously found in the </span><span>2nd Half 2019 </span><span>report. Further, these suburbs still meet the set liveability criteria.</span></p>
<p>The most affordable and liveable house suburbs include: </p>
<table border="0"><tbody>
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<td> </td>
<td>Approx. radius from the Melbourne CBD</td>
<td>Median House Price</td>
<td>1 Bed Median Price </td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Greensborough</td>
<td>20km</td>
<td>$803,000</td>
<td>$602,625</td>
<td>$760,000</td>
<td>$876,250</td>
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<td>Altona</td>
<td>19.5km</td>
<td>$885,000</td>
<td>$763,250</td>
<td>$842,500</td>
<td>$1,030,000</td>
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<td>Oakleigh South</td>
<td>7.7km</td>
<td>$923,000</td>
<td>$880,000</td>
<td>$890,500</td>
<td>$1,028,000</td>
</tr>
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<p>Affordable and liveable unit suburbs include: </p>
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<td> </td>
<td>Approx. radius from the Melbourne CBD</td>
<td>Median House Price</td>
<td>1 Bed Median Price </td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Kingsville</td>
<td>9.3km</td>
<td>$447,000</td>
<td>$285,000</td>
<td>$415,000</td>
<td>$747,500</td>
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<td>Moonee Ponds</td>
<td>7km</td>
<td>$470,000</td>
<td>$400,000</td>
<td>$524,000</td>
<td>$761,000</td>
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<td>Brunswick East</td>
<td>6km</td>
<td>$525,000</td>
<td>$386,000</td>
<td>$560,000</td>
<td>$821,500</td>
</tr>
</tbody></table>
<p>From 2018 to 2019/20 the number of houses sold in Melbourne Metro increased by 19.1 per cent. However, during this time frame median house prices declined by -11.1 per cent to $1,091,000. Similarly, demand for units increased by 12.9 per cent and median unit price softened by -1.8 per cent to $600,000. </p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/10_Housing.jpg" target="_blank">Click here</a> to enlarge:</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/10_Housing.jpg" alt="" width="524" height="287"></p>
<p>Melbourne Metro sales and median price growth. Source: PRD. </p>
<p>Over Q1 2020, the Melbourne Metro rental market recorded a median rental price of $410 per week for houses and $460 per week for units, representing quarterly median price growth of 2.5 per cent for houses and 4.5 per cent for units.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/10_Rental.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/10_Rental.jpg" alt="" width="479" height="315"></p>
<p>Melbourne rental market analysis. Source: PRD. </p>
<p>There is still a healthy demand for properties in Melbourne Metro, while affordability has increased. This puts Melbourne Metro in a unique position, as first home buyers can benefit from lower prices yet sellers can be confident of market demand. Melbourne Metro is a city conducive for investment as vacancy rates were recorded at a healthy 2.8 per cent in April 2020, indicative of rental properties being occupied relatively quickly. </p>
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<p><span>The percentage premium needed to be added to the VIC average home loan in this report is 79 per cent, lower than the 90 per cent added in </span><span>2nd Half 2019</span><span> </span><span>report. Further, it is lower than the 111 per cent premium that is needed to reach the Melbourne Metro median house price, whilst still being able to satisfy all other methodology criteria set. A similar pattern can be seen in the unit market, which suggests that the cost of liveability has declined in Melbourne Metro. Now is an ideal opportunity for those looking to enter the market.</span></p>
<p><span>The top three lowest priced suburbs in Melbourne are Dallas whose 2019/20 median price is $455,000, Meadow Heights ($480,000) and Albanvale ($514,500). Dallas has a project development value of $3 million and 2019/20 median rent of $350 with a 3.3 per cent rental yield. Meadow Heights has a project development value of $3.2 million and median rent of $370 with a rental yield of 4.2 per cent, while Albanvale has the lowest project development value of $1.8 million, and a median rent of $350 with a 3.1 per cent rental yield. </span></p>
<p><span>In contrast, the top three highest priced suburbs are Toorak (whose median price is $3,912,500), East Melbourne ($3,513,500) and Canterbury ($2.8 million). Toorak has the highest project development value of $35.2 million while East Melbourne has the highest median rent and rental yield of $910 and 4.1 per cent. </span></p>
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<p><span>In the 1st half of 2020 a well-diversified project development expenditure worth approximately $17.8 billion in Greater Melbourne is set to commence, which will have a positive snowball effect on local economies and the real estate market in Melbourne Metro. </span></p>
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<p><span>A key mixed use project is the Fisherman's Bend Urban Renewal Project ($1.0B). This project will construct residential, commercial and retail precincts. The area is to be transformed into 4 new CBD style mini-suburbs and an employment precinct, with housing for up to 80,000 people. A key commercial project is University of Melbourne Student Precinct ($229.0M), and a key infrastructure project is Sunbury to Cranbourne Pakenham Corridor Rail Project ($571.5M).</span></p>
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Melbourne shows minor improvement in housing affordability: PRD

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<p>Sydney Metro median property prices increased by 1.3 per cent for houses, according to PRD's <em>Affordable and Liveable Property Guide Sydney 1st Half 2020</em>.</p>
<p>Affordable and liveable suburbs are those with a maximum property sale price of the average state home loan, plus a 15 per cent deposit.</p>
<p>In the 1st half of 2020, 139 suburbs were within this price range, greater than the 119 suburbs identified in the 2nd Half 2019 report. </p>
<p>The most affordable and liveable house suburbs include: </p>
<table style="width: 688px;" border="0"><tbody>
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<td> </td>
<td>Approx. radius from the Sydney CBD</td>
<td>Median House Price</td>
<td>2 Bed Median Price </td>
<td>3 Bed Median Price </td>
<td>4+ Bed Median Price </td>
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<td>Miranda</td>
<td>20km</td>
<td>$1,160,000</td>
<td>$1,055,000</td>
<td>$1,092,500</td>
<td>$1,210,000</td>
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<td>Rockdale </td>
<td>10.9km</td>
<td>$1,100,000</td>
<td>$1,075,000</td>
<td>$1,160,000</td>
<td>$1,237,500</td>
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<td>Tempe</td>
<td>7.7km</td>
<td>$1,093,000</td>
<td>$1,042,500</td>
<td>$1,243,850</td>
<td>$1,425,000</td>
</tr>
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<p>Affordable and liveable unit suburbs include: </p>
<table border="0"><tbody>
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<td> </td>
<td>Approx. radius from the Sydney CBD</td>
<td>Median House Price</td>
<td>1 Bed Median Price </td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Rockdale</td>
<td>10.9km</td>
<td>$610,500</td>
<td>$482,500</td>
<td>$615,000</td>
<td>$718,880</td>
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<td>Bexley</td>
<td>11.1km</td>
<td>$610,000</td>
<td>$442,500</td>
<td>$600,000</td>
<td>$768,000</td>
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<td>Peakhurst</td>
<td>16km</td>
<td>$659,000</td>
<td>$495,000</td>
<td>$635,000</td>
<td>$842,500<br><br>
</td>
</tr>
</tbody></table>
<p>A cooling in median property prices in early to mid-2019 has led to more suburbs identified as affordable in the 1st half of 2020. However, this also meant there were a large number of suburbs with negative median price growth.</p>
<p>In line with the methodology set, suburbs with median price growth close to neutral (i.e. zero) were chosen. A premium of 95 per cent for houses and 11 per cent for units was added to the NSW average home loan, to ensure suburbs chosen met all other set criteria. This is well below the 2nd Half 2019 report premium and below the percentage premium needed to reach Sydney Metro’s median property price. Thus there is improved access to liveable suburbs for buyers.</p>
<p>Median property prices in Sydney Metro increased by 1.3 per cent for houses to $1,355,000 from 2018 to 2019/20 and remained steady for units at $796,500. By comparison, from 2017 to 2018 the median house price in Sydney Metro softened by -4.5 per cent, and the median unit price softened by -2.6 per cent.</p>
<p><span>The market has recovered from the significant price drop seen in mid-2019. There is a unique opportunity in Sydney Metro, as the current market is more affordable than in 2017 (median house price of $1,401,000 and median unit price of $819,500), yet at the same time owners can be confident in their asset’s ongoing value.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/9_Houses.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/9_Houses.jpg" alt="" width="491" height="278"></span></p>
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<p><span>Sydney Metro sales and median price growth. Source: PRD.</span></p>
<p><span>The Sydney Metro rental market recorded a median rental price of $500 per week for houses and $530 per week for units, representing quarterly median price growth of one per cent for houses and 1.9 per cent for units. This occurred despite an annual increase in vacancy rate, which was at 3.9 per cent in April 2020.</span></p>
<p><span> Sydney Metro recorded average yields of 2.5 per cent for houses and 3.5 per cent for units, which saw a slight softening in the 12 months to April 2020. Despite this however, Sydney Metro still offers investors long-term historical strength and stability in its rental market.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/9_Rental.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/9_Rental.jpg" alt="" width="504" height="337"></span></p>
<p>Sydney rental market analysis. Source: PRD. </p>
<p>The top three lowest priced suburbs in Greater Sydney are Villawood whose 2019/20 median price is $697,500, Granville ($730,000) and Guildford ($740,000). While there is no project development value offered by PRD for Villawood, its 2019/20 median rent is $500 with a 2.9 per cent rental yield.</p>
<p>Granville has a project development value of $22.6 million and a median rent of $460 with a 3.3 per cent rental yield. Guildford has a project development value of $9.8 million and median rent of $450 with a 2.8 per cent rental yield. </p>
<p>Meanwhile, the top three highest priced suburbs are St Leonards (with a $12.05 million median), Point Piper ($8.825 million) and Lavender Bay ($7 million). </p>
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<p><span>An estimated $17.5 billion of developments is planned in the 1st half of 2020 for Greater Sydney, in many sectors. </span>Major projects include the $1 billion Stage One M6 Extension infrastructure project, the $636.7 million Park Sydney Mixed Use Development (1,400 units), and the $200.0M Westfield Parramatta Stage One extension. These projects highlight the strength of the development pipeline for the 1st half of 2020. This will generate more commercial activity, and infrastructure projects will create additional employment; resulting in positive spill-over effects on the property market.</p>
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Sydney Metro median house prices increase by 1.3 per cent: PRD

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<p>From 2018 and 2019/20 the number of houses sold in Brisbane Metro grew by 20.9 per cent, according to PRD's <em>Affordable and Liveable Property Guide Brisbane 1st Half 2020.</em></p>
<p>Affordable and liveable house suburbs are those with a maximum property sale price of the Queensland average home loan plus 75 per cent premium. In the 1st half of 2020, 113 suburbs exist within this price range which is an improvement compared with the previous 91 suburbs identified in the <em>2nd Half 2019</em> report.</p>
<p>The most affordable and liveable house suburbs include: </p>
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<td> </td>
<td>Approx. radius from the Brisbane CBD</td>
<td>Median House Price</td>
<td>2 Bed Median Price </td>
<td>3 Bed Median Price </td>
<td>4+ Bed Median Price </td>
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<td>Griffin</td>
<td>19.2km</td>
<td>$465,000</td>
<td>N/A</td>
<td>$431,000</td>
<td>$471,000</td>
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<td>Everton Park </td>
<td>10.8km</td>
<td>$614,000</td>
<td>$540,000</td>
<td>$595,000</td>
<td>705,000</td>
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<td>Virginia</td>
<td>14km</td>
<td>$625,000</td>
<td>$511,500</td>
<td>$581,250</td>
<td>$760,000</td>
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<p>The most affordable and liveable unit suburbs include: </p>
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<td> </td>
<td>Approx. radius from the Brisbane CBD</td>
<td>Median House Price</td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Geebung</td>
<td>12.4km</td>
<td>$392,000</td>
<td>$243,500</td>
<td>$392,500</td>
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<td>Arana Hills</td>
<td>12km</td>
<td>$395,000</td>
<td>$341,000</td>
<td>$402,000</td>
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<td>Daisy Hill</td>
<td>20km</td>
<td>$411,000</td>
<td>$224,950</td>
<td>$435,000</td>
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<p>Though Queensland's home loan affordability has slightly declined, with the proportion of income to meet home loan repayments increasing by 2.7 per cent in the 12 months to Q1 2020, first home buyer loan activity increased by 20.8 per cent in the same period, indicative of an effective government first home buyer incentive programme.</p>
<p>Brisbane Metro's number of houses sold has grown by 20.9 per cent. In correlation, during this time median house prices increased by 1.5 per cent, to $690,000. On the other hand, the number of units sold increased by 13.9 per cent, however the median unit price softened by -1.5 per cent to $450,000. These figures indicate unique opportunities in Brisbane Metro.</p>
<p>House owners can be more confident of their property value, as real capital growth has transpired, whereas unit buyers can capitalise on a more affordable market.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/8_House%20sales.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/8_House%20sales.jpg" alt="" width="410" height="225"></p>
<p>Brisbane Metro sales and median price growth. Source: PRD.</p>
<p>Brisbane has conducive investment conditions, with attractive house (3.7 per cent) and unit (5.3 per cent) rental yields. A declining vacancy rate, currently at its lowest of 2.8 per cent in April 2020 suggests a healthier rental demand. A total of $12.2 billion worth of project developments is in the pipeline in the 1st half of 2020, which will have positive a spill-over impact on the property market.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/9_Brisbane%20analysis.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/9_Brisbane%20analysis.jpg" alt="" width="402" height="281"></p>
<p>Brisbane rental market analysis. Source: PRD. </p>
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<p>Over Q1 2020, the Brisbane Metro rental market recorded a median rental price of $390 per week for houses and $405 per week for units, representing quarterly median price growth of 0.0 per cent for houses and 4.1 per cent for units.</p>
<p>The top three lowest priced suburbs are Ellen Grove whose 2019/20 median price is $277,500, Woodridge ($282,500) and Goodna ($286,000). Ellen Grove has a project development value of $1.1 million, and 2019/20 median rent of $330 with a 4.2 per cent rental yield. Woodridge has a $640,000 value in project development, and 2019/20 median rent of $310 with a 5.5 per cent rental yield, while Goodna has a project development value over half of that ($300,000). Its 2019/20 median rent of $330 is on par with Ellen Grove, but records a higher rental yield of 4.6 per cent. </p>
<p>In contrast the top three highest priced suburbs are Teneriffe (whose median price 2019/20 is $1.85 million) with a project development value of $22.2 million, New Farm ($1.8 million) with $11 million and Hamilton ($1.525 million) with $478.1 million.</p>
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<p><span>Greater Brisbane is set to see approx. $12.1 billion worth of new projects commencing in the 1st half of 2020.</span></p>
<p>A key focus on mixed-use projects is ideal for Greater Brisbane, as it will create both new housing design options as well as commercial opportunities. This will stimulate economic growth and create local jobs, whilst also addressing an increase in housing demand in certain suburbs.</p>
<p>A key project is the Waterlea Master Plan Development at Walloon ($350.0M). This project is set to construct 1,500 homes in 8 neighbourhoods including recreational activity spaces and cafés. A key residential project is Carver’s Reach ($23.0M, 472 lots).</p>
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Brisbane Metro house sales rise over 20 per cent: PRD

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<p>Stockland announced a new $5 million extension to the Baringa Town Centre in its next stage of development in Aura on the Sunshine Coast.</p>
<p>The project will include a state-of-the- art medical centre and family-owned swim school, in addition to a number of other retail offerings, and marks a major milestone for the $5 billion community.</p>
<p><span>The new 1,215 square metre development will be comprised of Avenue Dental, Aura Family Doctors and John Wallace Swim School, bringing a number of valuable facilities and services to the award-winning masterplanned community.</span></p>
<p><span>Josh Sondergeld, Project Director at Stockland, said he was thrilled to progress plans to further develop and diversify the existing retail precinct in the heart of </span><span>Aura’s </span><span>first suburb of Baringa.</span></p>
<p><span>“Baringa </span><span>is already shaping up to be a thriving community with retail, residential, commercial, education </span><span>– </span><span>and now </span><span>– </span><span>health hub.</span></p>
<p><span>“This </span><span>development is in line with our strategy to deliver the best communities in the country </span><span>– </span><span>providing excellent outcomes for residents and key infrastructure close to home. We know the importance of health services, now more than ever before, and are pleased to be able to offer the Aura community easier access to such critical resources.</span><span>”</span></p>
<p><span>Mr Sondergeld continued: </span><span>“More </span><span>than 5,000 people are now calling Aura home and we look forward to welcoming many more residents into our community this </span><span>year.”</span></p>
<p><span>Kristy Perkins, Owner of John Wallace Swim School, said that they were looking forward to expanding their swim school business within Aura.</span></p>
<p><span>Greg Fine, Principal Dentist at Avenue Dental, said: </span><span>“We’ve </span><span>been a proud part of the Sunshine Coast community for the last 29 years and are so excited to now offer our services in Baringa. We have already formed a very strong connection with the area as many staff members call Aura home.</span></p>
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<p><span>Kayleigh Thompson, Practice Manager at Aura Family Doctors, said: </span><span>“The </span><span>Aura Family Doctors team is looking forward to opening in the Sunshine </span><span>Coast’s </span><span>newest development and being part of a growing community.</span></p>
<p><span>The new medical centre and swim school will be located on the corner of Baringa Drive and Aura Boulevard, adjacent to the Baringa Town Centre, and be easily accessible via the Aura Veloway and the extensive networks of dedicated walking and cycle paths.</span></p>
<p><span>It is expected to open early 2021.</span></p>
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Stockland announces $5 million extension to Aura retail centre in Baringa

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<p><span>Preliminary works commence today on the brand new $25 million Orange Sports Precinct thanks to the NSW Government.</span></p>
<p><span>Deputy Premier John Barilaro said the NSW Government is delivering on its election commitment to provide brand new sporting infrastructure to the people of Orange with geotechnical engineers today drilling the first holes in the ground to commence construction.</span></p>
<p><span>“</span><span>Last year I stood up in Orange and promised a $25 million sports precinct for the community, and today we are delivering on that promise and putting </span><span>shovels in the ground,” Mr Barilaro </span><span>said.</span></p>
<p><span>“</span><span>I am proud to announce that preliminary work has officially begun on the purpose-built facility which will include cricket and multipurpose ovals, an athletic field and track with covered seating and a rugby union and league field with grandstand and seating mounds to sit 8,500 fans.</span></p>
<p>Mr Farraway said the NSW Nationals in Government made this commitment at the election and have stayed true to their word.</p>
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<p><span>“The NSW Nationals in Government have delivered on their promise and t</span><span>oday commenced preliminary work to make this $25 million sporting dream a reality, right here in Orange</span><span>,” Mr </span><span>Farraway said.</span></p>
<p><span>“Th</span><span>e delivery of this election commitment will drive business, tourism and dollars directly into the Central West</span><span>.”</span></p>
<p><span>The NSW Government is investing $25 million for the Orange Sports Precinct, Orange City Council will deliver the project and Council aims to have the first stage of the project complete by late 2021 with the main field and grandstand due to be completed by 2022.</span></p>
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Works begin on $25 million Orange sports precinct

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<p>The sub-$700,000 price point still provides attractive offerings within Western Sydney to its key buyers, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
<p>The report suggests that the key buyers include first home buyers, investors and those looking to upgrade their existing residence, due to its more diverse options and lower price point in comparison to other areas in Sydney.</p>
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<p><span>"In relation to strata options, established areas in Western Sydney can provide two to three- bedroom units and in some cases townhouses," the valuation firm said. </span></p>
<p><span>In Parramatta, with its wider supply of units, </span>the $700,000 mark allows for a near new two- bedroom, two-bathroom unit.</p>
<p>An example of this is a circa 2019 unit, <a href="https://www.realestate.com.au/sold/property-apartment-nsw-parramatta-132823630" target="_blank">101/23 Hassall Street</a> (pictured below) which sold in February for $690,000, however previously sold off the plan in 2016 for $759,000, the report noted. </p>
<p> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/paramatta.jpg" alt=""></p>
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<p><span>"In Blacktown, you would only need $650,000 for a three-bedroom strata townhouse as shown by the sale of 4/16-20 Kent Street in April for $640,000," the valuation firm said. </span></p>
<p><span>The report notes opportunities at this price point for dwellings can be found for first home buyers and investors who wish to buy older style homes with a decent sized block of land in order to add value. </span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132782770" target="_blank">18 Killarney Avenue, Blacktown</a> (pictured below), a mostly original, three- bedroom, one-bathroom home with 601 square metres of land sold for $670,000 in April and would provide ample opportunity for value adding.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/backstown.jpg" alt=""></p>
<p> </p>
<p><span>For a good investment, a house and granny flat in St Marys would provide a higher cash flow in the short term and potential for longer term capital growth, the report noted. </span></p>
<p><span>St Marys is set to be connected to the Western Sydney Aerotropolis at Badgerys Creek. </span></p>
<p><span>A house and granny flat, 21 &amp; 21A Marsden Road, St Marys, which sold for $699,900 in April, has a potential rental income of $740 per week and yield of 5.5 per cent.</span></p>
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<p><span>"House and land packages are also an option in newer estates such as Marsden Park, Box Hill and Jordan Springs," the valuation firm said. </span></p>
<p><span> At this price point though, buyers will have to compromise on size to put together a package with land of between 250 and 350 square metres.</span></p>
<p><span>An example of this is the current listing of Lot 6181 Annan Avenue, Marsden Park, a single level, four- bedroom, two-bathroom Metricon built dwelling with a single garage, improved upon a 312 square metre block available for $699,546.</span></p>
<p><span>"Within the new estates you don’t need $700,000 to purchase land; for much less you can pick up a block to build your dream home. </span></p>
<p><span>"Prices are dependent on the size, location, frontage and topography of the allotment," the valuation firm said. </span></p>
<p><span>A comparison can be found for a few suburbs in the table below.</span></p>
<p><span> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/western%20sydney%20compare%20.jpg" alt=""></span></p>
<p><span>Source: HTW</span></p>
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<p><span>"In the rental market, with a current oversupply of available property relative to demand and the effects on the various markets of COVID-19, the rental market has contracted leading to increased vacancy rates and lower asking rents," the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Western Sydney: HTW residential 

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<p>Risk appetite and investment strategy will play a large role in deciding where to invest, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.</p>
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<p><span>The HTW report suggest the entry level price point of $700,000 and products on offer appeal primarily to first home buyers and investors.</span></p>
<p><span>"An investor should be mindful of vacancy rates, competing stock levels and planned infrastructure upgrades, making sure to utilise the most recent market evidence to justify any decisions," the valuation firm said. </span></p>
<p><span>Value levels have performed better than forecast during the COVID-19 period, with CoreLogic reporting a 0.4 per cent decline in dwelling values across Sydney in May. </span></p>
<p><span>Median data suggests </span>the Northern Beaches is still currently well above 2019 levels for both unit and dwellings. Sqmresearch.com has current median listing prices of dwellings at $2 million, well above the May 2019 low of $1.69 million.</p>
<p><span>Given that $700,000 is well below the median dwelling value of $1.8 million (CoreLogic as at March 2020) it would take something fairly unusual and a </span>property in Wheeler Heights just so happens to have sold recently, the report noted. </p>
<p><a href="https://www.realestate.com.au/sold/property-apartment-nsw-wheeler+heights-106266168" target="_blank">65A Penrith Avenue, Wheeler Heights </a>(pictured above) is a lower level duplex built circa 1970’s that has been renovated internally and features one bedroom, one bathroom, open plan living room and entertaining deck and courtyard.</p>
<p>This compact semi-detached dwelling sold in February 2020 for $700,000 and was last leased for $450 per week in 2019.</p>
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<p><span>A budget of $700,000 provides a plethora of opportunities in the unit market with a number of suburbs including Mona Vale, Dee Why, Avalon, Manly, Collaroy, Newport and Brookvale having a range of unit types available for under $700,000 (some as low as $450,000). </span></p>
<p><span>"One-bedroom units are available from as low as $500,000 in Dee Why, so $700,000 would allow the opportunity for a modern or renovated one-bedroom unit. </span></p>
<p><span>"Alternatively, older style two-bedroom units are available from circa $650,000," the valuation firm said. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/dee%20why.jpg" alt=""></span></p>
<p>A recent example is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-dee+why-133312094" target="_blank"> 8/14 Lismore Avenue, Dee Why</a> (pictured above).</p>
<p><span>The renovated circa 1970’s two-bedroom, one-bathroom unit sold for $665,000 on 28 May.</span></p>
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<p><span>Dee Why would offer a higher yield potential (circa four per cent) although historically offers lower capital growth prospects in comparison to other nearby suburbs. </span></p>
<p><span>Alternatively, an older style unit in a busier position in Balgowlah or Manly is available for a similar value level, the report noted. </span></p>
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What a lazy $700,000 can buy on Sydney's Northern Beaches: HTW residential 

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<p><span>The local Canberra housing market has continued to be quite stable, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </span></p>
<p><span>The HTW report notes there are still active market participants, however there are lower sales listings available. </span></p>
<p><span>The COVID-19 changes to public auctions did see a quick uptake of online auctions which proved to be quite successful with comparatively good clearance rates. </span></p>
<p><span>"The apartment market </span>has continued to experience a long period of strong supply and weakening demand. This has contributed to wider sale price fluctuations," the valuation firm said. </p>
<p><span>The residential tenancy moratorium on evictions has affected rented properties also listed for sale; investors are approaching with more caution due to the uncertainty of rental income and ending the lease agreement during this time. </span></p>
<p><span>In some cases, buyers have requested an extended settlement period to coincide with the end of the tenant’s fixed term lease (e.g. explicit term of the contract is vacant possession, however premises are tenanted, and thus responsibility is on the seller, not the buyer). </span>This has resulted in some extended settlement periods on properties that would have sold within normal settlement periods pre-COVID-19.</p>
<p><strong>A Lazy $700,000</strong></p>
<p><span>Belconnen is a district located north-west of the Canberra CBD and surrounds Lake Ginninderra. There are a few options for a lazy $700,000, the report noted. </span></p>
<p><span>A three bedroom townhouse in Belconnen has recently been sold for $655,000.</span></p>
<p>The<a href="https://www.realestate.com.au/sold/property-townhouse-act-belconnen-132721862" target="_blank"> 13/16 Morell Close</a> home (pictured below) comes with lounge room, kitchen and dining area and patio.</p>
<p><span>It also features evaporative cooling, ducted gas heating and double garage. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/20/belconnen.jpg" alt=""></span></p>
<p><span>In the suburb of Cook, $700,000 would be your entry point for a detached family home. </span></p>
<p><span>If you are lucky enough to find one, it would be a circa 1960s </span>three-bedroom, one-bathroom home with mostly dated interior situated on a 650 plus square metre lot.</p>
<p>Cook has continued to experience strong capital growth, which should give potential buyers more confidence.</p>
<p>"True is the old saying - buy the worst house in the best street," the valuation firm said. </p>
<p>A three bedroom house in Cook has recently been sold for $690,000.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-act-cook-133262966" target="_blank">24 Templeton Street </a>(pictured below), the home features RC/AC to living room, lock up garage and workshop, </p>
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<p><span>It is situated close to Jamison Plaza, Belconnen Town Centre and ANU.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/20/cook.jpg" alt=""></span></p>
<p><span>In the suburb of Evatt, your dollar will go a lot further, the report noted. </span></p>
<p><span>"Typically, you could buy a circa 1970s renovated four-bedroom, two-bathroom detached dwelling situated on an 800 plus square metre lot," the valuation firm said. </span></p>
<p><span>Evatt has experienced good capital growth, which is likely to continue in the short to medium term.</span></p>
<p><span>Thanks to the ACT Government’s Mr Fluffy Buyback Scheme, there has been an array of brand-new </span>duplex and dual occupancy dwellings built on the remediated blocks within the established suburbs of Belconnen, some priced within the $700,000 price range.</p>
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<p><span>In the suburb of Flynn, you could buy a brand new turnkey, four-bedroom, two-bathroom dual occupancy dwelling with a two-car built in garage, the report noted. </span></p>
<p><span> Buyer demand has typically been a mix of first- home buyers, downsizers and investors.</span></p>
<p><span> The short- term capital growth has been quite stable, as there continues to be a supply of other newly developed Mr Fluffy blocks available and in the pipeline.</span></p>
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What a lazy $700,000 can buy in Canberra: HTW residential 

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<p><span>Following the COVID-19 restrictions in place from early March 2020, local real estate agents working in the northern suburbs of Tasmania have reported that general sales activity and enquiry were quiet in early March and recovered in early May, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </span></p>
<p><span>The report notes with some certainty, COVID-19 seems to have had limited impact on the property market in the northern suburbs. </span></p>
<p><span>"Recent sales evidence indicates that the property market was relatively stable in the second quarter of 2020 with very slight signs of negative activity. </span></p>
<p><span>"The days on market have remained steady, with average selling periods of between two and three weeks," the valuation firm said. </span></p>
<p><span> The rental market across the northern suburbs for the March quarter was also reflective of a relatively stable environment.</span></p>
<p><span> A three-bedroom home’s weekly rent was from $350 to $480 depending on the location of the property.</span></p>
<p><span>A majority of properties in the northern suburbs do not generally exceed $700,000, the report noted.</span></p>
<p><span>'At this level of value, you could expect to purchase a range of different types of properties:</span></p>
<ul>
<li>A large 200 square metre plus multi-storey dwelling with a high quality fit-out, located within a sought–after locale such as West Moonah, Rosetta, Berridale or Claremont Estate with either elevated river views or close proximity to the river, shopping and recreation facilities.</li>
<li>Good quality rural lifestyle dwelling on over one acre of land;</li>
<li>A heritage-listed property with well-maintained heritage features;</li>
<li>In terms of investors within this market, $700,000 will most likely allow you to purchase two newly constructed units in an outer suburb location (Brighton, for example) achieving yields of over seven per cent plus a tax saving benefit.</li>
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<div class="column">A four bedroom house in West Moonah has recently been sold for $430,000.</div>
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<div class="column">The home at <a href="https://www.realestate.com.au/sold/property-house-tas-west+moonah-133055850" target="_blank">1/150 Springfield Avenue </a>(pictured below) comes with open plan living, four bedrooms, and rumpus or game room.</div>
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<div class="column">It is just a short 5-minute drive from all the amenities that Moonah has to offer. </div>
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<div class="column"><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/2020/7/20/west%20moonah.jpg" alt=""></div>
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<div class="column">A current listing is a three bedroom home in Tarleton priced over $495,000.</div>
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<div class="column">Set on over 4ha, the updated home is situated at <a href="https://www.realestate.com.au/property-acreage+semi-rural-tas-tarleton-134021054" target="_blank">130 Tarleton Road </a>(pictured below).</div>
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<div class="column">It features carpeted bedrooms, open dining and kitchen area, undercover entertaining area and double garage. </div>
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<div class="column">Generally, properties under $600,000 are selling within short time frames throughout the greater Hobart locality, the report said. </div>
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<div class="column">The market for properties over the $1 million dollar mark appears to have slowed given the lack of interstate investors.</div>
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<div class="column">"Once the borders open, allowing interstate investors to become active in the market once again, it is believed that this market will improve accordingly," the valuation firm said. </div>
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What a lazy $700,000 can buy in Tasmania: HTW residential 

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“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.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>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.</p>

<p>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.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>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.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>The proposal will now proceed to a full council vote on June 2.</p>

<p>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;</p>

<p>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;</p>

<p><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" /></p>

<p>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;</p>

<p>Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.</p>

<p>“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.</p>

<p>“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.</p>

<p><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" /></p>

<p>“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.</p>

<p>“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.</p>

<p>“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.”</p>

<p><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" /></p>

<p>Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;</p>

<p>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.</p>

<p>“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.</p>

<p>“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.</p>

<p>“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”</p>


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

<p>Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.</p>

<p>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>.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>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.</p>

<p>“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.</p>

<p>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.</p>

<p>The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.</p>


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