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


Joel Robinson

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

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


KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

<p>The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD</p>

<p>The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;</p>

<p>The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;</p>

<p><a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.</p>

<p>The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.</p>

<p>A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.</p>

<p>“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.</p>

<p>"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."</p>

<p>Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.</p>

<p>[smartcode_project:default project_id=134477 project_image_fid=374401]</p>

<p>Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;</p>

<p>Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.</p>

<p>Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.</p>

<p>With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.</p>

<p>It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.</p>

<p>Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.</p>

<p>"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”</p>

<p>Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.</p>

<p>[smartcode_project:default project_id=134477 project_image_fid=374402]</p>

<p>Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.</p>

<p>The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.</p>

<p>&nbsp;</p>

<p>According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.</p>

<p>"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.</p>

<p>"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.</p>

<p>“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”</p>

<p>Demolition and early construction works have commenced onsite at Castlereagh Place.</p>

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Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

<p>International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.</p>

<p>The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.</p>

<p>According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.</p>

<p>&nbsp;</p>

<p>Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185853]</p>

<p>Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.</p>

<p>The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.</p>

<p>"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.</p>

<p>"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.</p>

<p>"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=374280]</p>

<p>Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.</p>

<p>McMahon said the pricing strategy was a deliberate response to the current market.</p>

<p>"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362498]</p>

<p>Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.</p>

<p>Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.</p>

<p>[smartcode_project_cta:default project_id=106566]</p>


SPG Land launches $1.5 billion Paradiso Place at attractive price point

<p>Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.</p>

<p>The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366473]</p>

<p><a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.</p>

<p>"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.</p>

<p>"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366474]</p>

<p>Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.</p>

<p>Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.</p>

<p>"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.</p>

<p>"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.</p>

<p>"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=374378]</p>

<p>According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.</p>

<p>Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.</p>

<p>"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.</p>

<p>"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.</p>

<p>"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.</p>

<p>"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366480]</p>

<p>The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.</p>

<p>A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.</p>

<p>The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.</p>

<p>"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.</p>

<p>"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."</p>

<p>The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.</p>

<p>Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.</p>

<p>Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.</p>

<p>Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.</p>

<p>&nbsp;</p>

<p>[smartcode_project_cta:default project_id=140818]</p>


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