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Darwin homeowners and landlords are preparing for a significant surge in activity when the Northern Territory’s borders reopen in July, according to Glenn Grantham, the general manager of Raine &amp; Horne Darwin. 
“Even before the border announcement this week, we received six rapid-fire bookings for a holiday rental apartment in the Darwin CBD,” Mr Grantham said.
“Typically, at this time of year, this penthouse apartment in the stunning Oasis building books for weekends only. The six bookings are for weeklong stints.
“All six bookings have been made by southern state holidaymakers, who are seeking a winter getaway.
“With international borders currently closed, Darwin fits the bill perfectly for tourists. However, holiday accommodation will be tight.”
Darwin has a vacancy of 2%, the city’s best in seven years, while the number of vacant properties available for rent is about 50% lower than June 2019, according to data from Raine &amp; Horne Darwin.
Given this major supply shortage, Mr Grantham expects some severe price pressure on Darwin’s already competitive average rental yield of 5.8% for the remainder of 2020.  
The possibility that construction work on Charles Darwin University’s CBD Campus will begin as early as July will also add to the pressure on Darwin’s tight rental market.
“This construction project will require interstate tradespeople, who will be seeking permanent rentals,” added Mr Grantham.
Mr Grantham advised that, based on personal experience, most interstate buyers generally holiday in Darwin before migrating permanently.
“With the surge in first-time visitors and based on the city’s real estate history, plenty of these tourists will make a permanent shift to Darwin.
“The ‘try before you buy’ approach will work well again for the property market as tourists will land in Darwin in the dry season, which is a beautiful time of year with average days of 32°Celsius and no humidity.
“For those vendors considering a sale, be prepared for an influx of interstate purchasers between now and September,” Mr Grantham advised. 
The border is scheduled to reopen on July 17 of this year.
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NT border reopening to drive demand for Darwin property

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The NSW Government has announced that the new $80 million Western Sydney Construction Hub will be located at the existing Kingswood TAFE NSW campus.
Minister for Skills and Tertiary Education Geoff Lee revealed the location with Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres during a visit to the Western Sydney campus.
“The Western Sydney Construction Hub will be located on the existing TAFE NSW campus in Kingswood. It will deliver specialised training for 700 new students each year in key trade areas such as carpentry, electrical, construction and plumbing,” Mr Lee said.
“As a dedicated Centre of Excellence for construction trades, the new facility will significantly enhance education and training in the region and showcase the best of what TAFE NSW has to offer in delivering world-class, practical training linked to jobs.
“We know our State needs a strong pipeline of skilled workers to meet the demand of our infrastructure boom, and that’s why we’re significantly investing in TAFE NSW.”
Mr Ayres said the new Western Sydney Construction Hub will equip students with job- ready skills at a time when the area is experiencing an unprecedented spend in infrastructure projects.
“With its world-class facilities, expert teachers and on-site industry engagement, the Western Sydney Construction Hub will help to deliver the skilled workers needed for major construction projects such as the Western Sydney Airport and Aerotropolis, and the Sydney Metro Western Sydney Airport,” he said.
The centre will be located on vacant land and is in close proximity to public transport, employers and other community amenities.
It is scheduled to be completed in 2023.
 
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Western Sydney Construction Hub to be built in Kingswood

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The majority of development applications in the eastern suburbs relate to renovations and extensions, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggests 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.
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The report notes renovations are generally made by owner-occupiers looking to enhance their current home to meet their changing needs and include examples such as renovations of terraces in Paddington and Woollahra, to second storey additions to semi-detached homes in Maroubra and Randwick, to huge extensions and renovations to large prestige homes in Vaucluse and Bellevue Hill.
"While we do see full renovations of units and townhouses in the eastern suburbs, it is more often the case that a part renovation is undertaken to get an uplift in rent for investors, or an uplift in price for owners looking to sell after the renovation," the valuation firm said. 
These renovations often focus on the works that will give you more bang for their buck such as a new kitchen, bathroom renovation or new floor coverings.
"Given the local government areas of Woollahra, Waverley and Randwick have a significant proportion of development applications relating to renovations and extensions, we took a look at the number of new development applications lodged so far this year and how that compared to last year," the valuation firm said. 
In the period to the middle of May this year, Woollahra LGA saw 150 new development applications lodged. This was slightly down on the 170 lodged over the same period last year. 
Waverley had 150 in both years, while Randwick dropped from 270 last year to 215 this year. 
"These numbers may reflect the stronger property market conditions in the first quarter of 2020 compared to 2019, with owners looking to sell rather than stay and renovate, but may also indicate that some owners may be placing larger renovation projects on hold under the current COVID-19 environment," the valuation firm said. 
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The report notes a good example of uplift in value from renovating in the eastern suburbs is a property at the southern end of the region in Chifley. 
The original two storey, semi-detached, four- bedroom, two-bathroom dwelling (pictured below) situated on a thoroughfare opposite Long Bay Correctional Facility, sold in September 2018 for $1.15 million.
<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/2020/6/10/chifley%20before.jpg" alt="">
 
After a full renovation, the property (pictured below) resold in November 2019 for $1.9 million, more than covering the cost of the renovation.
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Another example at 9 Jane Street in Randwick saw a detached, single level cottage (pictured below) sell originally for $2.1 million in June 2019, then undergo a full renovation, before selling again in April for an undisclosed price above $3 million.
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"Both of these examples also benefited from an improving market between purchasing and selling. This is an important consideration for anyone looking to flip, as in a falling market it may be difficult to cover your total costs after completing the renovation," the valuation firm said. 
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Eastern Sydney sees decline in development applications for renovations: HTW residential 

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The Northern Beaches area is heavily owner- occupier driven and most renovations occur for this purpose, whether that be for first-home buyers looking to add value or families looking to upsize but remain in their existing homes, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggests 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.
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The report notes Freshwater is one of the most active suburbs for home renovations at the moment.
"The suburb has one of the highest number of outstanding development applications in the Northern Beaches Council with around 30, particularly high considering the size of the suburb," the valuation firm said. 
Entry level into the Freshwater market for housing is typically $1.5 million to $2 million, depending on the position in the suburb, land characteristics and accommodation size.Generally speaking, construction works typically return their cost and often a profit.
"It is prudent to analyse sales in the local area of finished, renovated homes if creating equity is a major factor in your decision to renovate. 
"The sales will assist in determining what the market is willing to pay for certain products, help set a construction budget and provide design ideas and concepts that the local market is receptive to," the valuation firm said. 
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A recent example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-freshwater-133208874" target="_blank">70 Soldiers Avenue, Freshwater</a> (pictured above) which sold for $2.725 million on 9 April 2020.
This circa 1960s, four-bedroom, three- bathroom property recently underwent a full renovation and is a good benchmark for owners looking to renovate their existing homes in the suburb.
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Freshwater - the most active suburbs for home renovations in the Northern Beaches: HTW residential 

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The prestige market on the Upper North Shore is seeing plenty of renovation activity, although this is not uncommon for this area of course, according to the latest Herron Todd White (HTW) residential report. 
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.
"It can traditionally be very hard to find a property that ticks all of your boxes at this higher end of the market, so usually buyers or owners are willing to renovate as needed and are more likely to have the funds to do so.
"This has become even more pronounced with the dramatic drop in the amount of stock coming onto the market during this COVID-19 period," the valuation firm said. 
Home-owners who were looking to potentially upgrade prior to March this year may now be nervous due to the current uncertainty in the market and decide to renovate instead. 
The report notes these same owners may now have slightly more time on their hands too, allowing them to investigate the renovation and associated DA process.
Renovations on the Upper North Shore, assuming undertaken to a quality standard, traditionally provide the added value of the completed work at a minimum.
"Of course there is always the odd property where over-capitilisation has occurred, but it is hard to go wrong in this sector of the market if owners follow the basic renovation rules," the valuation firm said. 
An example of a recent purchase and renovation job re-sold in March this year for a substantially higher price.
The period property At 36 Powell Street, Killara (pictured below) sold in May 2015 for $2.75 million and was in dated condition throughout.
<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/2020/6/10/killara%20before.jpg" alt="">
After some small extension work, floor plan re-configuration and a full internal renovation, the property re-sold in March this year for $6.1 million (pictured below).
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"Of course there has been some market growth over this period too, but it is still a good example of the added value of quality renovation works.
"Situated on a good sized block with a highly desirable north-to-rear aspect and located in a well-regarded street, this was always going to see a substantial increase in value," the valuation firm said. 
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Upper North Shore Sydney sees increasing renovation activity: HTW residential 

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If the queues at Bunnings are anything to go by, home renovation seems to be on the rise in western Sydney, according to the latest Herron Todd White (HTW) residential report. 
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.
"Niggling jobs that have been put on the backburner are now being addressed, be it patching a hole in the wall, reconfiguring the rear garden or even a second storey extension," the valuation firm said. 
Western Sydney is a diverse area for real estate and this allows residents a larger choice in property.
 Families who have outgrown their existing property have a number of options such as upgrading to a new property in the growth areas or buy an existing dwelling and renovate, the report noted. 
The north-west and south-west growth precincts have seen substantial development of new dwellings on smaller allotments over the past five years, with many buyers upgrading to these ready- made new products rather than undergoing an extensive renovation on their current dwelling.
"Given the lower price points in western Sydney compared to eastern Sydney, it is vital to analyse the current renovated sales to ensure you are not overcapitalising.
"This is particularly important for investors as it is dead money that could have been used elsewhere.Owner-occupiers may not be as concerned as over time these costs will be absorbed as the market improves," the valuation firm said. 
For years, investors have been actively buying older run down properties in western Sydney and updating the dwellings to not only add value but increase rental return.
The addition of a well-placed granny flat in the rear yard further increases the yield for the investor.
An example where this has worked is at <a href="https://www.realestate.com.au/sold/property-house-nsw-whalan-132604618" target="_blank">12 Aitape Crescent, Whalan</a> (pictured below) in the Blacktown LGA.
This three-bedroom, one- bathroom dwelling sold for $366,000 in February 2019 and after undergoing a full renovation, sold for $520,000 in February 2020 through Raine &amp; Horne Penrith.
<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/2020/6/10/whalan%20before.jpg" alt="">
Before
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"Regarding the cost to renovate, it seems that engaging a skilled tradesperson to complete some work is not a cheap exercise.
"One has only to look at the number of shiny, dual cab utes on development sites to see that skilled tradespeople are in hot demand, mostly thanks to the amount of infrastructure and construction within the Sydney metropolitan area," the valuation firm said. 
In Prestons, the difference between a renovated and unrenovated entry level home is demonstrated by the results of two sales this year.
<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/2020/6/10/prestons%201.jpg" alt="">
<a href="https://www.realestate.com.au/sold/property-house-nsw-prestons-132770486" target="_blank">18 Cedar Road</a> (pictured above), an unrenovated property, sold for $676,000 in January, while <a href="https://www.realestate.com.au/property-house-nsw-prestons-133243622" target="_blank">32 Grevillea Crescent</a> (pictured below), with a basic internal renovation, mainly to the kitchen and bathroom, sold for $740,000 at the end of March.
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Whilst not a large uplift, it would easily cover the cost of completing the renovation works, the report noted. 
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Western Sydney home renovation on the rise: HTW residential 

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The general sales activity and enquiry in Lismore, Richmond Valley and Kyogle areas have remained quiet, however, there does not seem to be any sense of a catastrophic drop in prices expected, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggest 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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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"Following the COVID-19 restrictions in place from early March 2020, the question frequently asked is “How will the property market react during and after COVID-19?” 
"Nothing much has changed since our foray into this loaded question last month, apart from the fact that at least some restrictions are slowly being lifted," the valuation firm said. 
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"Providing locals are able to get back to work or retain employment and regain some sense of normality, a few brave souls have hinted at a launching pad for the local property market to rise!
"Think about it; the unprecedented low interest rates are unlikely to rise quickly due to a willingness by government and lenders alike to encourage the country to get going again...and this could be a scenario for some time yet," the valuation firm added. 
If a potential property investor, first home buyer or upgrader has all the boxes ticked for the lender, today could be a very good time to buy, the report noted. 
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Rental accommodation queries remain relatively strong.
With interest rates now at record low levels, there are a number of opportunities some may not have considered outside of the desire to buy a new build. 
Renovation could potentially feature in the minds of investors, developers, first home buyers and even upgraders. Borrow a few dollars to put some new life back into the tired and dated home.
The report suggests the cost is naturally going to be a key ingredient in the decision making as well as the end value of the final product.
"The option to do this in the Lismore region is to find an established, three-bedroom, two-bathroom dwelling within the $300,000 to $400,000 price bracket," the valuation firm said. 
For, Casino and Kyogle, a similar real estate product would be in the region of $250,000 to $350,000.
A three bedroom house in Casino was sold for $295,000 in April. 
The home at <a href="https://www.realestate.com.au/sold/property-house-nsw-casino-132689386" target="_blank">15 Beith Street</a> (pictured below) comes with L-shaped lounge and dining, modern kitchen, home office and garden shed.
It is located close to the Golf Course. 
<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/2020/6/10/casino.jpg" alt="">
"There is no particular area of Lismore, Casino or Kyogle that has the upper hand on renovation activity.... diamonds in the rough can be found anywhere if you look hard enough," the valuation firm said. 
"Renovating an established dwelling rather than commencing a new build can achieve a lot....if done properly." 
A budget of less than $100,000 could provide an updated kitchen, bathroom, ensuite, general interior and exterior painting and floor coverings.
"Provided the renovation work emphasises the positive features that are already there OR introduces new features that the market place desires (do your homework for the areas you wish to invest or live in as each locality is different), then the cost to added value ratio could yield some reasonable capital gain....and nicer digs to reside in!" the valuation firm said. 
However, the trick is not to over capitalise. 
A good option is to seek out those large homes with only two bedrooms and a large living space, the report noted. 
Cut the living room to provide a third bedroom and the rental would naturally improve to reflect that of a three-bedroom home.
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Older style, turn of the century homes are quite popular for those with an interest in timber and the old world appeal.
One good example is a property at <a href="https://www.realestate.com.au/sold/property-house-nsw-girards+hill-129516530" target="_blank">62 Cathcart Street, Girards Hill</a> (pictured below), out of the flood area and an easy walk into the CBD.
The property is a beautiful, circa 1880s timber home with expansive verandahs and fully renovated interior that maintains the heritage character set amongst well established landscaping, trees and mature gardens.
<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/2020/6/10/girards%20hill%201.jpg" alt="">
It sold for $880,000 in mid 2019, the price being a record for the suburb of Girards Hill in recent years.
However, the cost to renovate and maintain such prized, older-style, weatherboard homes needs to be strictly monitored as one could easily get carried away.
"In summary, from a conservative perspective, the purchase of an established house with opportunities to renovate would be a more viable option and purposeful stepping stone to something newer in the future without the millstone of large debt around the neck.
"There are land and house packages available today which are competitively priced but are still above the expected price for an established dwelling of average to moderate appeal.
"Besides, the established house does provide the opportunity for the owner to put their stamp of identity on the renovation project whereas a house and land package is simply that - what you see is what you get and any subtle changes to the design could bring on a wallet attack." 
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Tips for renovating established dwellings in Lismore/Casino/Kyogle: HTW residential 

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Well-renovated character homes in Byron are particularly desired in the market and could be targeted by a buyer renovating for profit, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggest 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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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"One month on and what was a blurry view of the post-COVID-19 property market is slowly coming into sharper focus, however with updates on travel restrictions, infection rates and government assistance packages coming at us thick and fast, the situation could be best described as fluid.
"A month ago, we were staring down the barrel of a lock down into September. The latest, good news is that intrastate travel in New South Wales will now be allowed from the start of July. This will be a welcome relief for the cash strapped tourism sector in Byron Bay and the surrounding shire," the valuation firm said. 
The report notes whilst the lucrative overseas market and interstate market is still out of reach, any visitor numbers are better than no visitor numbers for now. That is the good news.
There is, however, mounting evidence that residential sale prices in the shire may have softened since the start of the COVID-19 pandemic.
The following three examples show that some sellers have had to accept lower sale prices post-COVID-19 after listing their properties pre- COVID-19.
Exact property addresses are not given to protect the vendor’s and buyer’s privacy, however these are confirmed sales unless stated otherwise.
1. Acreageproperty, Binna Burra. Listedin February 2020 for $1.35 million. Sold in April 2020 for $1.2 million, an 11.1 per cent difference between list price and sale price.
2. Acreage Property, Nashua. Listed in February 2020 with a price guide of $1.29 million to $1.41 million. Sold in April 2020 for $1.08 million, a difference between price guide and sale price of 16.3 to 23.4 per cent.
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3. Duplex unit, Byron Bay (under contract). Listed in February 2020 with a price guide of $1.1 million to $1.2 million.Price guide adjusted in April 2020 to $995,000 to $1.065 million and is now under contract for $1.02 million, a difference between February price guide and sale price of 7.2 to ten per cent.
"Buyers and sellers should not be alarmed by these examples, but they should be alert to the fact that some properties are selling at prices well below the seller’s expectations," the valuation firm said. 
In the current market, sellers should be keeping right up to date on what is happening in their locations and be prepared to listen to the market rather than their hearts.
Buyers too, need to do their research, as there appears to be the opportunity to purchase at the lower end of some sellers’ price expectations, the report noted. 
"The bottom line is that there appears to be increased volatility across the market and at the moment, residential property can be expected to sell within a wider than usual price range," the valuation firm said. 
The report suggests buying a property at the lower end of the price range increases the opportunity to renovate for profit.
Renovating for profit is, however, traditionally fraught with danger due to cost overruns, over capitalising and market movement. It is best left to experienced renovators; novices need to tread carefully.
The Byron Shire is largely established with only a small number of residential estates offering new builds in the hinterland localities of Mullumbimby and Bangalow.
There are many older units and houses in beachfront towns and hinterland localities that could be described as ripe for renovation.
The report notes well-renovated character homes (timber houses from 1900 to the 1960s) are particularly desired in the market and could be targeted by a buyer renovating for profit.
A renovated three bedroom house in Ocean Shores has recently been sold for $745,000.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-ocean+shores-132825202" target="_blank">51A Balemo Drive</a> home (pictured below) comes with multiple living spaces, modern kitchen, and undercover outdoor space. 
It also features solar hot water system, yard with established trees and scope for potential granny flat. 
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One of the more fashionable and profitable ways for owner-occupiers to add value to their properties in recent years has been the addition of a second dwelling or studio to their land.
The construction of a council-approved, self- contained bungalow or studio in a backyard has given many Byron Shire residents a steady income stream or somewhere for the extended family to live.
Notwithstanding the current over supply of rental properties brought about by COVID-19 (see last month’s Month in Review comments), there has been a shortage of properties to rent in the Byron Shire over the past few years and many homeowners and investors have sought to capitalise on this with a bungalow or studio addition.
Typically, a small two-bedroom studio or bungalow will cost around $175,000 to build, all in.
It will rent (depending on location) for approximately $375 per week or $19,500 per annum, gross rent.
A one bedroom home in <a href="https://www.realestate.com.au/property-house-nsw-mullumbimby-427810226" target="_blank">Mullumbimby</a> (pictured below) is currently on the rental market with a price guide of $365 per week.
The new home features open plan living, kitchen with gas cooking, separate bedroom and carport. 
It is located within walking distance to town centre. 
<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/2020/6/10/mullumbimby.jpg" alt="">
"While you still have to factor in increased mortgage payments, management fees, vacancies, insurance premiums, etc., this represents a gross return of 11% on your investment.
"So, who wants to build a bungalow in Balgalow?" the valuation firm said. 
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How to increase the opportunity to profitably renovate in Byron: HTW residential

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Feedback from the Clarence Valley market suggests that the sales volumes are down, enquiry is down and holiday rental demand is down, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggest 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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"Agents are reporting that some have taken their listed properties off the market, previously listed holiday properties are being leased out permanently, adding more supply and reducing rents," the valuation firm said. 
Agents are noting though that they are seeing less volume, there are more quality enquiries for sales properties.Value levels seem to have remained relatively stable until now.
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The HTW report notes prior to the Coronavirus, renovation was quite strong in the area due to the market rewarding updated, well-presented properties.
Renovation works are expected to be less common due to the Coronavirus.Renovations may occur in the main parent home as children lose their jobs and want to return home under the safety of greater equity held by their parents in these uncertain times which have negatively impacted employment.
"Due to the current uncertainty, those with financial resources are more likely able to renovate however working people with a mortgage may decide to defer spending money on renovation due to uncertainty about employment and secure income," the valuation  firm said. 
Investors likely are holding off renovating until such time as employment and tenants are in a stronger position to support payments of rent. 
Saying that, bank interest rates are still low and the area is seen as a long term growth area due to the new highway under construction and new jail. 
Renovations are likely still viewed positively by the market, particularly to out of town buyers from capital cities due to their more secure employment and income, the report noted. 
Renovation work in Grafton and Maclean on older style dwellings around $250,000 to $300,000 are not uncommon and some added value is expected to be rewarded by the market, although there are likely some Heritage issues to contend with in these areas.
A recent sale was a lowest weatherboard home situated within walking distance to Grafton CBD. 
The two bedroom, one bathroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-grafton-132698134" target="_blank">129 Fry Street </a>(pictured below) was sold for $278,000.
The home features lounge room with ornate ceilings, brick fireplace, timber floors and large backyard. 
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A current listing is a two bedroom Grafton house priced at $260,000.
The 134 Dobie Street home (pictured below) comes with two bedrooms and spacious living room, air conditioning and ceiling fans. 
It features hardwood timber flooring thourghout which is sought after by renovators.
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"In the future, renovation work may likely be reduced due to the uncertainty around employment, expendable income and secure tenants," the valuation firm said. 
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Renovation work expected to reduce in Clarence Valley: HTW residential 

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The property market in Albury-Wodonga and surrounding region on both sides of the border appears to be holding quite well, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggest 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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"The cases of COVID-19 have been very, very low and the community has been adhering to all pandemic measures.
"Most agents are reporting a hold and wait type behaviour across the board, which resulted in significantly reduced sales activity for April and May, with an uptick in this third week of May as restrictions ease and the reopening of schools is now approaching for both New South Wales and Victoria," the valuation firm said. 
"With the number of final inspections on new homes and construction reports on proposed new dwellings increasing, we will continue to observe and analyse the likely effects on the tourism industry and the investor market in our region." 
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If the carpark at Bunnings is any indication, home improvement has been front of mind for many with the expected result surely being property of all types receiving TLC, running second only to the amount of extra dog walking being witnessed across the country.
"Pre-pandemic vendors making the extra effort in property presentation were certainly reaping the rewards, so post-pandemic we might be set for a very good looking property offering in spring with gardens spruced, DIY updates of bathrooms and painting refreshes creating the longest lines at home improvement centres," the valuation firm said. 
Overall the renovation market in our area is quite targeted, due to property owners’ mobility in the market created by our housing affordability, the report noted. 
The risk of over-capitalising property is real if the price point and location are not spot on.
The house flippers are mostly purchasers with skill sets to renovate on a budget and this has been very evident in North Albury reaching further north now to Lavington and also parts of south Albury.
A renovated three bedroom unit in Lavington has recently been sold for $226,000.
The <a href="https://www.realestate.com.au/sold/property-unit-nsw-lavington-132385398" target="_blank">2/585 Heathwood Avenue </a>home (pictured below) comes with open plan living, contemporary kitchen and three bedrooms.
The unit is located in a well-maintained complex of only two. 
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The report suggests the other active market segment for renovations are high end additions and renovations of character dwellings in central, small pockets of North Albury and all of old East Albury.
A three bedroom house located in Albury's iconic Jones Street is currently on the market with a price guide of $649,000.
The <a href="https://www.realestate.com.au/property-house-nsw-albury-133673950" target="_blank">722 Jones Street home </a>(pictured below) comes with renovated bathroom, update kitchen, and open plan dining and lounge. 
It also features enclosed sunroom, triple length single garage and undercover carport. 
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With only a select few master builders available, waiting times for these projects can be expected, up to two years for some builders, so substantial planning and patience is required in these good locations.
Renovation is not for the faint-hearted and the decision to renovate may sit below upgrading to a newer home, moving to a better location, building from scratch or demolishing and rebuilding.
The rewards are there for the very astute home owner or investor, however regional cities do not enjoy the same capital growth as the metropolitan property markets, so often a smart update rather than a full renovation can assist owners to enjoy some uplift to take the next property step or secure a better tenancy.
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"On inspection, we often hear the lamentation that home improvement takes money and time and striking that balance can be challenging.
"Hopefully over the past couple of months property owners have had the time and been able to save some money by taking on projects themselves or calling in the professionals," the valuation firm said. 
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Smart update or full renovation in Albury-Wodonga? HTW residential 

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

Joel Robinson

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

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

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

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

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

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

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

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

Staff reporter

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