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<p><span>Unit rentals have experienced the biggest price drop in more than 15 years, marking a historic rent price fall of 3.2% (equivalent to $15 per week) over the June quarter, according to the latest Domain Rental Report.</span></p>
<p><span>House and unit rental prices fell across most major cities, illustrating that no city was immune from the impact of coronavirus.</span></p>
<p><span>Sydney and Hobart unit rentals were hardest hit — both recorded the steepest quarterly fall on record.</span></p>
<p><span>Melbourne’s inner-city areas also saw large downturns.</span></p>
<p><span>Sydney’s median rental cost for units fell 3.8% to $500 per week.</span></p>
<p><span>Melbourne’s median rental cost for units fell 3.5% to $415.</span></p>
<p><span>Brisbane’s median rental cost for units fell 1.3% to $380.</span></p>
<p><span>Adelaide’s median rental cost for units stayed steady, with no month-on-month change from the previous quarter’s $320 per week figure.</span></p>
<p><span>Perth’s median rental cost for units also stayed steady, with no month-on-month change from the previous quarter’s $320 per week figure.</span></p>
<p><span>Hobart’s median rental cost fell further than any other major city, seeing a mammoth 8.4% fall in prices down to $380 per week.</span></p>
<p><span>Canberra’s median rental cost for units fell 2.1% to $470 per week.</span></p>
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Unit rentals across the country see biggest price fall in 15 years: Domain June rental report

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<p>A five-bedroom, three-bathroom luxury residence in Hawthorn East sold for $3.55 million through Anton Zhóuk on June 30, 2020. </p>
<p>The 8 Bethune Street property is situated on an approximately 920 sqm block right in the heart of the Anderson Park Precinct. </p>
<p>The residence boasts a 18.3 metre wide frontage.</p>
<p>The property was last sold for $3.25 million in 2015. </p>
<p>According to Realestate.com.au, 15 other five-bedroom houses were recently sold in Hawthorn East. </p>
<p>A five-bedroom, two-bathroom home on Nicholson Street was sold most recently for $2.9 million on October 30, 2019. </p>
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Trophy home in Hawthorn East sold for $3.55 million

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<p>To maximise any increase in value when renovating, it is best to do a full kitchen or bathroom renovation, according to the June Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p><span>"We are now, at the time of writing this, almost two months into these tough social distancing rules, restrictions and temporary closures of many businesses across many industries.</span></p>
<p><span>"Although it feels like it has been a lot longer, it is still quite early into the influence this COVID-19 pandemic is likely to have on our lives, the (macro) economy and what was and will be considered the norm for many different things moving forward," the valuation firm said. </span></p>
<p><span>When specifically looking at the residential property market, there were some obvious sudden impacts, such as the banning of on-site auctions and all open homes to be by appointment only. </span></p>
<p><span>The report notes there were also sudden changes to levels of market sentiment, for instance how confident purchasers in the market felt buying a new property and committing to a mortgage in a time of current economic uncertainty or paying top dollar for a property in a desirable location.</span></p>
<p><span>"What has been less sudden and to be frank, what most of us are interested in, is the impact on property values," the valuation firm said. </span></p>
<p><span>The property market (value speaking) is a lag indicator, so changes in value due to the COVID-19 pandemic are still too early to call, however to get some indication of where things are tracking, the best evidence to look at is: properties that have sold from April to now; how long properties are taking to sell; and whether there have been (and how many) downward price adjustments made to properties with an advertised price guide.</span></p>
<p><span>Speaking specifically of Canberra, the market has held its ground since late March with </span>prices remaining consistent with pre-COVID-19 levels, but moving forward, it may be a case of groundhog day with prices remaining where they are and growth very much negated by the fact that confident market sentiment is no longer there.</p>
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<p><span>The topic of renovations and value-adding is a contentious one, the report noted. </span></p>
<p><span>Generally speaking, the kitchen and bathroom areas of a property are where it is wise to invest capital, either through regular maintenance or upgrading, as these are focal communal points of a property where significant time is spent.</span></p>
<p><span>In current circumstances, it is those who bought five plus years ago who are in the best position to do this, drawing on the growth in their equity of their property from good capital growth to pay for renovations to invest back into their property.</span></p>
<p><span>A local example is a property in the south side suburb of Chisholm, which has a median house price of $607,500 (source: realestate.com.au pricing data as at 28 April 2020).</span></p>
<p><span>Comprising a small, 1990s built three-bedroom, one-bathroom dwelling with a dated fit-out located on a small block, it was purchased in 2001 for a figure in the vicinity of $150,000.</span></p>
<p><span>Valued as it was, a figure of $450,000 was adopted based on the valuation assessment method. This represented a tripling in its value over that time period just from capital </span>growth.The client was able to tap into the increase in their equity to undertake an internal renovation, the report noted. </p>
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<p><span>Those who purchased during the market peak (2018 to 2019) haven’t seen the previous levels of growth continue, so the growth in their equity may not be sufficient enough to use to undertake renovations.</span></p>
<p><span>"Day-to-day work volumes on a ground level haven’t shown any noticeable increase in the number of requests coming through for owner occupied or investor properties being renovated," the valuation firm said. </span></p>
<p><span>The desire to undertake such a project may be there, as more people work from home and become aware of dated internal fit-outs or neglected maintenance, however home renovations are likely to be considered a luxury and non-necessity, therefore in a period of restrained consumer spending, </span>there hasn’t been a sudden rise in the number of renovation jobs for established properties.</p>
<p><span>Those that are coming through tend to be owner- occupied properties, the report noted. </span></p>
<p><span>Property owners in a position to invest back into their property are doing so for their primary place of residence and it tends to be suburbs where the majority of the residential stock was established in the mid-1980s and early 1990s, such as Isabella Plains, Calwell and Theodore. </span></p>
<p><span>These properties are now 25 plus years old and are showing their age through dated internal fit-outs and worn appliances.</span></p>
<p><span>In the current circumstances, </span>these properties also tend to be the most sensible to renovate, particularly three-bedroom properties, as their buy-in price point tends to be in the low to mid $500,000 range.</p>
<p>Their post-renovation buy-in price point usually ranges from high $500,000 to mid $600,000 depending on the level of finishes and if the property is a bathroom plus ensuite property.</p>
<p>Properties within this price range are sensible to renovate as they are consistently within an in-demand price range due to their relative affordability in the context of Canberra, where the median house price at the end of 2019 was $788,621 (source: domain.com.au - Domain House Price Report, December Quarter 2019).</p>
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<p><span>"When renovating your property it is also important to consider that a half-hearted approach, so to speak, won’t necessarily see an increase in value as opposed to a full renovation, for example, if your property has a dated internal fit-out, choosing to (just) update the vanity unit in the bathroom, </span>or appliances only in the kitchen but leaving everything else as is," the valuation firm said. </p>
<p>This is often because it is an expectation of the market that these high-use items are in good working order and merely updating them is bringing the property in line with what the market expects when paying for a habitable property.</p>
<p>To maximise any increase in value when renovating, it is best to do a full kitchen or bathroom renovation.</p>
<p>A three bedroom house with a renovated bathroom in Chifley has recently been sold for $702,500.</p>
<p>The family home at <a href="https://www.realestate.com.au/sold/property-house-act-chifley-133723218" target="_blank">5 Lamb Place</a> (pictured below) was offered for sale for the first time in 54 years. </p>
<p>It comprises three bedrooms, separate lounge, meals area, double garage and covered storage area. </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/2020/7/6/chifley%20.jpg" alt=""></p>
<p>A current listing is a single level duplex with renovated kitchen in Holt, which is priced at over $498,000.</p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-duplex+semi-detached-act-holt-133902570" target="_blank">2 Bushby Place</a> (pictured below).</p>
<p>It comes with open plan living and dining areas, master room with ensuite and backyard with vegetable gardens. </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/2020/7/6/holt.jpg" alt=""></p>
<p><span>The report suggests another important thing to consider is price. It is important to source multiple quotes. </span></p>
<p><span>One local example saw a client in the suburb of Richardson source two quotes for the renovation of their </span>bathroom, which was a relatively small size, measuring 5.4 square metres.</p>
<p>The two quotes were $40,000 and $25,000. Richardson is one of Canberra’s most affordable suburbs and to outlay a significant sum for a small bathroom renovation did not make economic sense as buyer demand for high-end bathroom fit-outs in Richardson isn’t strong.</p>
<p>"Before undertaking any renovation work, consider what the market demands in a specific location in order to invest effectively and avoid overcapitalising," the valuation firm said. </p>
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Canberra renovation work volumes remain stable: HTW residential 

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<p><span style="font-size: 12.16px;">The Victorian government has announced a return to stage three lockdown in Melbourne and Mitchell Shire as a response to unprecedented levels of Covid-19 infections.</span></p>
<p><span>REIV President, Leah Calnan, said local real estate agencies are well prepared for a return to stage three restrictions. </span></p>
<p><span>“</span><span>Real estate in Melbourne and Mitchell Shire will continue to service the community with online inspections returning </span><span>along with online auctions.” Ms Calnan said. </span></p>
<p><span>“</span><span>Opens for inpections and auctions in regional Victoria will continue with the 20 person limits and social distancing measures.</span><span>” </span></p>
<p><span>“Victorian real estate has always been more than willing to do anything it can to help fight the </span><span>Coranvirus pandemic, the essential transaction of property and shelter will go on in a safe </span><span>and controlled manner.”</span></p>
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<p><span style="font-size: 12.16px;"><span>Calnan added that clients, agents, and buyers will all be consulted to the best ways to reduce the risk of spread. </span></span></p>
<p><span style="font-size: 12.16px;">“</span><span style="font-size: 12.16px;">The restrictions can be challenging for people who are looking to move and our members are working hard to communicate with all stakeholders and ensure a smooth transition to online methods</span><span style="font-size: 12.16px;">.”</span></p>
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<p><span>“REIV Members across Victoria stood up to the plate when </span><span>stage three restrictions were enforced earlier this year. We are well-drilled and ready to take on the next six weeks of </span><span>restrictions.” </span></p>
<p><span>“Stage </span><span>three restrictions are not ideal, but I am constantly amazed at the innovation and flexibility our industry is capable of when faced with </span><span>challenges.” </span></p>
<p><span>“</span><span>Online auctions, inspections and document exchange have allowed the real estate business to continue in these challenging times. </span><span>.” </span></p>
<p><span>“</span><span>The REIV continues to provide online training, guidance and support to the sector</span><span>.” </span></p>
<p><span>The new lockdown measures will be in place for at lest 6 weeks. </span></p>
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Melbourne real estate prepared for stage three restrictions: REIV's Leah Calnan

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<p>A recently-refurbished 2,991 square metre industrial facility in Smithfield has been secured pre-auction for $3,230,000 (plus GST).</p>
<p>A multi-national portable equipment hirer purchased 71 Long Street, and will relocate its local headquarters from Sydney’s north-west.</p>
<p>Formerly home to a transport firm, the site features a large concrete yard and a 1,221 square metre building with warehouse and office space and an expansive awning.</p>
<p>The warehouse offers clearances of up to 5.5 metres with access via two roller doors, while the multi-level office area has been refreshed.</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/2020/7/8/Smithfield%202.jpg" alt=""></p>
<p>Within Smithfield’s tightly-held industrial precinct, the property is in close proximity to arterial roads including the Cumberland Highway, Great Western Highway and M4 motorway.</p>
<p>CBRE’s Janet Joljian and Elijah Shakir managed the sale on behalf of the vendor, DSE Superannuation Fund, with an auction originally scheduled for mid-June.</p>
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Smithfield warehouse snapped up pre-auction for  $3.23 million

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<p>A local business has snapped up two joined strata units on one site for $1,850,000 in Perth’s Osborne Park.</p>
<p>Located at A and B/28 Sarich Court, the asset comprises a 1,506 square metre site, with a combined 882 square metres of warehouse and office space.</p>
<p>Tom Jones, of Ray White Commercial (WA), marketed and sold the listing.</p>
<p>Mr Jones said the street-front assets were in a sought-after commercial precinct surrounded by premium catchment areas.</p>
<p>“Osborne Park has always been an area in demand, however due to its ‘development’ zoning, has been quick to lose its industrial identity which is still highly sought-after,” Mr Jones said.</p>
<p>“Unit A offers 441square metres of office/warehouse space and boasts a reception area with seven offices, kitchenette, and storage room (dark room).</p>
<p>“It also provides ducted reverse cycle air-conditioning to the front office space, roller door access from the front of warehouse, and a 150 square metre mezzanine floor above the office area.</p>
<p>“Unit B offers 441 square metres of office/warehouse space including two offices and reception, 50 square metre mezzanine, and roller door access from the front of the warehouse.</p>
<p>“Generic for both units there's 624 square metres of front hardstand/parking, upgraded 160amps of power, double brick façade recently rendered with concrete tilt panel surrounding and tin roof, neon lighting throughout, and alarm system.”</p>
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Two Osborne Park strata warehouse units sell for $1.85M

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<p><span>Market activity in Darling Downs has slowed significantly over the past six to eight weeks as a result of COVID-19, according to the June Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
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<p><span>The report notes many vendors withdrew their properties from the market during the initial shut down period and many selling agents are now reporting having limited stock on the market.</span></p>
<p><span>Selling agents are also reporting that genuine buyers are still active in the market (ie. those who had sold just prior to the COVID-19 shutdowns and need to buy elsewhere or government employees relocating) and cash buyers are beginning to emerge, seeking the opportunity for a good buy.</span></p>
<p><span>The restriction on open homes for several weeks resulted in selling agents receiving genuine buyer enquiry rather than sticky-beakers. Open homes have re-commenced in the past week and agents are reporting moderate attendance so far.</span></p>
<p><span>In the broader Darling Downs region, property managers are still reporting good demand for rental properties, the report noted. </span></p>
<p><span>There is limited short-term rental accommodation homes in this region and accordingly, it has been somewhat insulated from an influx of short-term letting properties such as those listed on AirBNB coming back on to the long- term rental market.</span></p>
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<p><span>"Commentary has been made by both CoreLogic and realestate.com.au representatives regarding the potential for increased demand for properties within a two hour radius of capital cities after COVID-19, due to buyers seeking a lifestyle change to less crowded regional areas and with new work from home routines having been established.</span></p>
<p><span>"This applies to many areas within the Darling Downs region and is cause for optimism in our area," the valuation firm said. </span></p>
<p><span>Renovate your way out</span></p>
<p><span>There has been a significant growth in property owners undertaking extensive renovation projects in recent years, possibly driven by television shows such as The Block.</span></p>
<p><span>In the Darling Downs region, this is particularly evident in the city of Toowoomba, the report suggested. </span></p>
<p><span>"The well regarded and sought after suburb of East Toowoomba has seen a significant amount of home-owner renovations in recent times," the valuation firm said. </span></p>
<p><span>A majority of properties in East Toowoomba are older, character timber dwellings and there has been a noticeable increase in the number of these properties being brought back to life. </span></p>
<p><span>Some note-worthy renovations for this locality have maintained the original cottage style façade but have been extended to the rear with two level, contemporary style additions.</span></p>
<p><span>"There have only been a few renovations carried out in this style so far in East Toowoomba and they have generally been completed by owners of local, custom building groups as their own personal residence and then on-sold.</span></p>
<p><span>"Therefore, it is difficult to comment on the profitability of carrying out such an extensive renovation. In many cases, this has created a great deal of interest in those particular builders and resulted in additional renovation projects for them to complete for paying customers," the valuation firm said. </span></p>
<p><span>An example provided by the valuation firm is a fully restored and renewed home in East Toowoomba. </span></p>
<p><span>The four bedroom, two bathroom home at 31 Cavell Street (pictured below) was sold for $810,000 in 2019. </span></p>
<p><span>The home comes with tiled bathrooms, covered alfresco area and terrace, private courtyard and rear studio space. </span></p>
<p><span>The original features include high ceilings and black stained timber flooring. </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/2020/7/6/east%20toowoomba%20.jpg" alt=""></span></p>
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<p><span>Well-renovated character dwellings in East Toowoomba are generally in the $750,000 plus price bracket, depending on the size and features of the dwelling, ancillary improvements such as pools and particularly the land size.</span></p>
<p><span>Renovation costs are currently quite high and in many cases, the cost of completing an extensive renovation is not reflected as added value on a dollar for dollar basis, the report noted. </span></p>
<p><span>Nearby suburbs such as Mount Lofty and North Toowoomba are also seeing some renovation of older timber homes, but to a lesser extent than that of East Toowoomba.</span></p>
<p><span>"There is significantly less home renovation being carried out in the lower price brackets and in other suburbs across Toowoomba. We also note that there is limited renovation activity in our regional areas such as Warwick, Stanthorpe, Gatton, Kingaroy and Dalby," the valuation firm said. </span></p>
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Extensive home renovation projects grow significantly in the Darling Downs region: HTW residential 

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<p><span>To date, there are still no clear indications of the impact of COVID-19 on property values in the Mount Gambier region, according to the June Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"Whilst the market has softened as a direct result of government enforced restrictions and general economic uncertainty, we are yet to see this reflected in any value correction.</span></p>
<p><span>"As restrictions begin to ease and some normality resumes, we remain positive that the impact will be limited, however we are not naive to the fact that there will be ramifications within the property market," the valuation firm said. </span></p>
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<p><span>What about renovations?</span></p>
<p><span>Bunnings is certainly packed on the weekends and our DIYers are making the most of lock down time! However, from what we can see at the moment, it would appear as though the top priority on everyone’s renovation list is to complete small jobs that were already on the to do list," the valuation firm said. </span></p>
<p><span>Larger renovations often take longer to plan and generally rely on the availability of tradies and they are not easy to grab in our region at short notice.</span></p>
<p><span>"In our region, major renovations need to be considered quite carefully. The cost of demolition, altering and reconfiguring existing improvements can quickly make any renovation very expensive, without necessarily seeing any improvement in the dwelling," the valuation firm said. </span></p>
<p><span>"Prior to completing any major renovations we would recommend that home owners ascertain the current value of their home (have a valuation done), consider the cost of the proposed renovations and then add the two amounts together. </span></p>
<p><span>"What can you buy in the current market for a similar price? Are you best to do the proposed renovations or perhaps consider buying a property at a similar total cost where someone has already done all the hard work? This is a simple way to have an informed opinion on the best way to tackle the question of whether to renovate or not." </span></p>
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<span><img src="blob:https://www.urban.com.au/4b0eba65-746c-4da6-b89f-1141fb1e0b52" alt="page31image3738448" width="0.500000" height="0.500000">A renovated three bedroom home in Mount Gambier has recently been sold for $297,000.</span>
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<div class="section"><span>Set on a 641 square metre block, the 10 Degaris Street home (pictured below) comes with lounge room, renovated kitchen, and paved pergola area. </span></div>
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<div class="section"><span>The property was last sold in 2012 for $210,000.</span></div>
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<div class="section"><span>A current listing is a renovated three bedroom home in Mount Gambier with a price guide between $175,000 to $185,000.</span></div>
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<div class="section"><span>The 53 Boandik Terrace home (pictured below) comes with open plan lounge and dining, three carpeted bedrooms, tiled bathrooms and separate lounge. </span></div>
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<div class="section"><span>It is located just a short walk to schools and shopping centre. </span></div>
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Major renovations in Mount Gambier need to considered carefully: HTW residential

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<p><span>The COVID-19 restrictions have given homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes, according to the June Herron Todd White (HTW) residential report. </span></p>
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<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>Corelogic recorded a 0.2 per cent price increase in the Perth median house price to $477,000 throughout April, indicating that values remained steady in the initial impact stages of COVID-19.</span></p>
<p><span>The number of listings decreased five per cent compared to the previous month with 11,670 properties recorded for sale at the end of April, which is below historical numbers and indicates that the market is moving towards a period of undersupply – depending on where demand levels out.</span></p>
<p><span>When home open inspections were temporarily banned due to the Coronavirus restrictions, the Real Estate Institute of Western Australia (REIWA) recorded under 300 sales transactions per week during April compared to recording over 500 transactions per week over the same period last year. </span></p>
<p><span>The week ending 10 May recorded a 32.7 per cent increase in sales activity with 527 sales recorded in the Perth region compared to the previous week. </span></p>
<p><span>Confidence within the market is slowly beginning to recover which has been helped by home opens being reinstated with a maximum of 10 people allowed and a further maximum of 20 people allowed as of 18 May.</span></p>
<p><span>Within Perth, the REIWA recorded 5420 properties for rent as of 10 May, which is a four per cent decrease in comparison to four weeks before and 23 per cent lower than this time last year.Leasing activity has increased by 31.5 per cent from the end of April to the start of May.</span></p>
<p><span>Until recently, agents across south-west Western  Australia were experiencing very few enquiries and were frustrated by the inability to interact with potential purchasers due to restrictions on home opens.As a result of the lack of sales transactions, it has been difficult to get any firm idea as to the effect on values.</span></p>
<p><span>"The easing of Coronavirus restrictions has seen a flurry of new enquiries however it is not yet back to the pre- pandemic levels," the valuation firm said. </span></p>
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<p><span>Prior to the world pandemic, Western Australia’s property market was improving consistently with consecutive levels of growth being recorded, the report noted. </span></p>
<p><span> Senior Research Analyst for Domain, Nicola Powell, said that houses in Perth were being discounted at an average rate of 7.85 per cent during April, compared to 11.9 per cent recorded last year.</span></p>
<p><span>One real estate agent reported that 60 per cent of their transactions were between one and three per cent of the original asking price.</span></p>
<p><span>"Many believe that Western Australia will perform stronger than other states given its stage of the property cycle before the impact of COVID-19, however many industry experts have stressed concern that the government incentives are only a short term solution and that we could be in for more pain in the long run," the valuation firm said. </span></p>
<p><span>Renovations</span></p>
<p><span>The Coronavirus pandemic has produced very few upsides, however one positive outcome has been the increased time spent with our families, friends and loved ones, the report noted. </span></p>
<p><span>The extended homestay period has brought boredom to a whole new level for some. The COVID-19 restrictions have given stir-crazy homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes.</span></p>
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<p><span>"Renovating is well known for increasing the value of property as well as bringing new life to dated dwellings, however we do know that alterations almost never boost value at a one-to-one ratio with cost," the valuation firm said. </span></p>
<p><span>With many experts tipping the Australian property market to plummet between one to twenty per cent over the coming year, renovating could look like a fine prospect to offset some of that damage for people with job security.</span></p>
<p><span>Though solid statistics are sparse, one article by 9 News suggests that Australian renovation jobs were down 15.55 per cent in April 2020 compared to March, however this is not in line with the anecdotal evidence we are seeing on the ground.</span></p>
<p><span>Commonwealth Bank of Australia economist, Gareth Aird, recently said that “there has been a 25 per cent increase in credit and debit spending on household furnishings and equipment compared to a year ago”.</span></p>
<p><span>Simon Bligh, Chief Executive Officer of credit bureau Illion, said the average Australian spent 38 per cent more per week on home improvement compared to before the lockdown (Sydney Morning Herald, 2020).</span></p>
<p><span>"Although renovation work generally drops when there’s a dip in consumer confidence, this has never been combined with residents having spare time around the house, so it will be interesting to see which way the pendulum swings over the June quarter, especially since restrictions appear to be changing almost weekly," the valuation firm said. </span></p>
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<p><span>In the early stages of the pandemic, much of the expectation was for renovation work to slow down as the supply chain for home improvement parts and equipment was halted and product availability from China was lacking, the report noted. </span></p>
<p><span>On top of this, looming social distancing restrictions posed a threat to tradespeople working in close quarters. Fortunately, as of 18 May, restrictions were relaxed to allow gatherings of up to 20 people. </span></p>
<p><span>This should provide some relief to developers, builders and tradespeople alike, however applying the four square metre rule may still be tricky in some work sites.</span></p>
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<p><span>Many building and renovation businesses have had to change the way they operate alongside the rest of the country by adding services such as video call consultations, where consultants take a virtual tour through the home as the owner shows them around.</span></p>
<p><span>Small projects such as updating blinds and carpets, landscaping, gardening and painting have seen Bunnings and other outlets quickly run out of stock and many residents have become keen DIYers during long stretches at home.</span></p>
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<p><span>In terms of what we have experienced here in Western Australia, chatting with agents, property managers, investors and homeowners suggests that renovation work has in fact increased, particularly in the upper middle price bracket of circa $700,000 plus. </span></p>
<p><span>This may be due to hierarchal employment and the fact that younger and older, lower income earners have (generally) been hit the hardest or are not in a financial position to be thinking of renovating.Historically low interest rates have clearly been enticing homeowners into refinancing to top up their borrowings.</span></p>
<p><span>Historically low prices provide fantastic opportunities for anyone willing to tackle a new renovation here in Western Australia.</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/2020/7/6/parkwood.jpg" alt=""></span></p>
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<p><span>The Parkwood property at 23 Romney Way (pictured above) is under contract for $370,000.</span></p>
<p><span>The circa 1974 build comprises four bedrooms, one bathroom and a single garage with an attached carport, built on a 713 square metre allotment.</span></p>
<p><span>This shows exceptional value for money if you are willing to get your hands dirty and renovate, as the same block of land ten kilometres further from the CBD can cost substantially more – minus the hous</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/2020/7/6/piara%20waters.jpg" alt=""></span></p>
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<p><span>This Piara Waters property at 7 Artisan Pass (pictured above) sold in February 2020 for $810,000.</span></p>
<p><span>The circa 2009 build comprises four bedrooms, two bathrooms and a double garage on a 713 square metre allotment.</span></p>
<p><span>Despite the glaringly obvious difference in the quality of improvements, it really does demonstrate the value for money in older suburbs where you can give properties a new life.</span></p>
<p><span>"If you spent $350,000 demolishing and rebuilding the Parkwood property, or less on a smaller scale renovation, then you could have a similar quality build on the same amount of land for cheaper and ten kilometres closer to the city," the valuation firm said.  </span></p>
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<p><span>The cost of renovating during the Coronavirus pandemic has seemingly remained stable (though it is hard to tell as prices fluctuate significantly from builder to builder), only increasing if time is a major factor or if products aren’t available from the usual suppliers.</span></p>
<p><span>"We have however heard of projects being quoted with extended completion times due to social distancing restrictions. This should ease up as restrictions are loosened over coming months."</span></p>
<p><span>Generally, the cost of a major kitchen renovation starts from circa $20,000 and can increase upwards of $50,000 depending on the size of the kitchen, whether you are removing walls or choosing high quality, unique fixtures and finishes. For bathrooms, major renovations start at circa $15,000 and can carry on upwards of $30,000 (again depending on several factors).</span></p>
<p><span>These costs can of course be lower if you are only completing minor works, spend wisely or assist in the works yourself.</span></p>
<p><span>As noted in previous editions, Houzz Australia’s 2016 Houzz and Home Report states that homeowners spent an average of $31,000 on major renovations of a large kitchen (more than 12 square metres) where all appliances and cabinetry were replaced and $21,840 for a small kitchen (less than 12 square metres).</span></p>
<p><span>The Houzz and Home Report also showed that the average spend on major bathroom renovations was $16,440 for a large bathroom (more than five square metres) and $14,770 for a small bathroom (less than five square metres) (Domain, 2017).</span></p>
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<p><span>"Entry prices for new dwellings come in at circa $190,000 plus for a completed product.If you add in the cost of a potential demolition ($15,000 to $25,000), then you’re looking at a minimum of $200,000 to $250,000 for a standard project style build.Consider renovating if your home is looking a little dated, but you love the area you live in.</span></p>
<p><span>"You can get a completely new look and fresh feel for easily under $100,000, or if you live in an older character home, finished renovations can look amazing and can be highly contested when put up on the market," the valuation firm said. </span></p>
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<p><span>Suburbs such as Mount Hawthorn, Wembley, and Mount Lawley, all being within five kilometres of the CBD, have seen a flurry of action recently. </span></p>
<p><span>Further out of central Perth, suburbs such as Canning Vale and Atwell are creeping towards the ripe renovation age of between 30 and 35 years old - this is the median dwelling age for renovations.</span></p>
<p><span>"Canning Vale was zoned rural under the Metropolitan Region Scheme until 1994, making the residential development’s age around 25 years old, so we should start to see an influx of renovation projects in these areas throughout the pandemic and beyond," the valuation firm said. </span></p>
<p><span>The main areas ripe for renovation in the south- west tend to be older character homes in South Bunbury and East Bunbury, the report noted. </span></p>
<p><span>A character home in need of renovation can be picked up for mid- $300,000s and once renovated, can sell for mid to high $500,000s, with higher values achievable after extensions or additions.</span></p>
<p><span>Other areas such as Busselton can see older homes renovated, usually as the front lot of a strata development however they are usually demolished to make way for modern units.</span></p>
<p><span>The cost of renovations and additions are such that it is often just as affordable to construct a project style home as is the case in many of the smaller country towns.</span></p>
<p><span>"In summary, there are many areas throughout Western Australia where renovation projects are a worthwhile exercise – however there are also areas that are ripe for gentrification, where the value add of a new dwelling easily outstrips the prospects of a renovation.</span></p>
<p><span>"Part of our service offering is the ability to offer before and after valuations based on your project plans. When weighing up where to spend your hard earned savings, it’s well worthwhile paying for some professional advice."</span></p>
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Are renovation projects worthwhile in Perth? HTW renovation 

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<div class="column"><span>A good autumn with most of the area receiving around 100 millimetres of rain during March and early April has instilled early confidence in a reasonable season in the Echuca and Deniliquin markets, according to the June Herron Todd White (HTW) rural report. </span></div>
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<div class="column"><span>The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. </span></div>
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<span>Combined with the long term forecast of good rains for the 2020 winter season, the general outlook for the rural sector is good, the report noted. </span>
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<div class="column"><span>Locally, farmers are quite confident of a good season and reasonable commodity prices despite the obvious impact of COVID-19.</span></div>
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<div class="column"><span>Agents are reporting a gradual increase in enquiry for rural property over the past month or so that will no doubt translate into a gradual improvement in sales activity.</span></div>
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<div class="column"><span>"We are aware of two sales contracted in late March that are at levels similar to pre COVID-19."</span></div>
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<div class="column"><span>A significant influence in the market has been the low interest rates and the perception that interest rates will remain at or around this level for the foreseeable future," the valuation firm said. </span></div>
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<div class="column"><span>A mixed irrigation and dryland holding to the south of Deniliquin contracted for sale in April 2020 for about $10 million, showing around $2450 per hectare excluding water. </span></div>
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<div class="column"><span>The purchasers were local farmers, indicating plenty of confidence and strength in the market place, the report notes. </span></div>
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<div class="column"><span>"At this point in time, the general outlook for rural values in the area is for values to steady or see a slight rise," the valuation firm said. </span></div>
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<div class="column"><span>A Carag Carag farm has recently been sold for $335,000.</span></div>
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<div class="column"><span>The property at 662 Blamey Road (pictured below) features four bedroom homestead, colorbond shed, internal fencing and native garden. 'Currently the farm is used for grazing stock.</span></div>
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<div class="column"><span>A current listing is Yallum Vale, a 422ha Dairy farm in Echuca priced at $3.8 million.</span></div>
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<div class="column"><span>The 1151 McKenzie Road property (pictured below) includes two homes on separate titles, 50-stand rotary dairy and machinery shed. </span></div>
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<span>It is located just 10 minutes south east of Echuca. </span>
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Echuca and Deniliquin rural markets remains steady: HTW rural

<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>

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<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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