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


Joel Robinson

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

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


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

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


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

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


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

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


First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.</p>

<p>The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).</p>

<p>Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.</p>

<p>Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.</p>

<p>The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.</p>

<p>There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

<p>While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

<p>In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.</p>

<h2>What is NatHERS?</h2>

<p>NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.</p>

<h2>How NatHERS Ratings Work</h2>

<p>NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.</p>

<p>The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;</p>

<p>Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.</p>

<p><strong>Cost Savings:</strong> Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.</p>

<p><strong>Environmental Impact:</strong> Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.</p>

<p><strong>Improved Comfort: </strong>Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.</p>

<p><strong>Market Value and Desirability:</strong> Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.</p>

<p><strong>Compliance with Building Codes:</strong> NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.</p>


The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.</p>

<h3>Convenience and accessibility</h3>

<p>Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.</p>

<h3>Vibrant lifestyle and community</h3>

<p>One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.</p>

<h3>Enhanced security and maintenance</h3>

<p>Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.</p>

<h3>Live-work-play balance</h3>

<p>One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.</p>

<p>The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe></p>

<h2>Who pays Stamp Duty?</h2>

<p>In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.</p>

<p>You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

<p style="line-height:1.38">Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p>Roberts Co has entered a new phase of growth following its acquisition by Arada, one of the world’s fastest-growing property developers in Australia.</p>

<p>The acquisition is supported by a $50 million capital injection into Roberts Co’s Australian balance sheet, consisting of the previously announced $25 million recapitalisation and an additional $25 million in new funding from Arada.</p>

<p>This investment strengthens Roberts Co’s financial position, stabilises operations, and provides the foundation for strategic expansion beyond its New South Wales base, with a focus on new opportunities in Queensland, including the Brisbane and Gold Coast regions.</p>

<p>With Arada’s international resources and financial backing, Roberts Co will broaden its portfolio across residential, commercial, and infrastructure sectors, reinforcing its strong market position in New South Wales and setting itself to capture growth in one of Australia’s most dynamic construction markets.</p>

<p>Ahmed Alkhoshaibi, Group CEO of Arada, said Roberts Co has a proud Australian heritage, an outstanding delivery record, and a strong reputation for collaboration with clients and partners.</p>

<p>"By combining this expertise with Arada’s global scale and financial capacity, we are creating a platform for sustained growth in the Australian market,"&nbsp;Alkhoshaibi said.</p>

<p>“Our $50 million capital injection, including new funds from Arada, underlines our commitment to both stabilise and expand Roberts Co’s operations, particularly into the fast-growing Queensland market. We see significant potential in South-East Queensland’s pipeline and are confident Roberts Co is well placed to deliver lasting value for clients and communities.”</p>

<p>George Kostas, CEO of Roberts Co, said Queensland, and particularly South-East Queensland, is one of the most active and opportunity-rich regions in Australia right now.</p>

<p>"The lead-up to the Brisbane 2032 Olympic Games will bring unprecedented investment across housing, transport, and infrastructure. Roberts Co is eager to play a major role in that transformation and secure a meaningful share of this fast-growing market.”</p>


Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

<html><body><div class="page" title="Page 25">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The past few months have shown little evidence of declines in values in the Bundaberg region, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>The report notes properties are still being listed and sold and being refinanced.</span></p>
<p><span>This is due mainly to the limited number of COVID-19 cases in the region and hopefully with the recent easing of restrictions, this confidence should remain.</span></p>
<p><span>"We are very much like the Hervey Bay market when it comes to renovations," the valuation firm said. </span></p>
<p><span>Bundaberg renovations have actively slowed over the past few months as consumers appear to be conserving their dollars. </span></p>
<p><span>"Judging by the local Bunnings carpark, locals </span>seem to be doing odd maintenance jobs around the house and yard instead of major renovations. Local builders have reported that the demand for new owner-occupier homes remains consistent," the valuation firm said. </p>
<p>A renovated house in Walkervale has recently been sold for $220,000.</p>
<p>The home at <a href="https://www.realestate.com.au/sold/property-house-qld-walkervale-133800338" target="_blank">121 Barolin Street</a> (pictured below) comes with three bedrooms, sunroom, renovated gourmet kitchen and fully renovated bathroom. </p>
<p>It also features new roof, new gyprock ceilings and low maintenance 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/2020/6/22/walkervale%20.jpg" alt=""></p>
<p>A current listing is a renovated two bedroom unit in Bundaberg South. </p>
<p>The unit at <a href="https://www.realestate.com.au/property-unit-qld-bundaberg+south-133626926" target="_blank">1/46 George Street </a>(pictured below) has been listed for sale with over $169,000 hopes.</p>
<p>It features open plan kitchen and living area, private courtyard and single garage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/bundaberg%20N.jpg" alt=""></p>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Bundaberg renovation activity slows down: HTW residential 

<html><body><div class="page" title="Page 17">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>In the Eastern suburbs of Melbourne, the number of renovation jobs completed by Herron Todd White (HTW) has increased, according to the latest HTW residential report. </span></p>
<p><span>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.</span></p>
<p><span>The report notes the outer eastern ring has seen a spike in renovation valuations. Suburbs such as Kilsyth, Blackburn, Doncaster and Wantirna have had measured growth in jobs for renovations. </span>Ranging from complete renovations, partial renovations and additional spaces being created to the homes.</p>
<p>A renovated character home in Blackburn has recently been sold for $1.435 million.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-blackburn-133601306" target="_blank">2A Forest Road </a>home (pictured below)comes with formal and casual living and dining, four bedrooms, renovated stone kitchen, entertaining area and vegetable garden.</p>
<p>it is set just moments from school and public transport. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/15/blackburn%201.jpg" alt=""></p>
<p>"The trend we are seeing, based on the ownership information provided by third party web service, Core Logic, is that it is mostly current owners who are renovating.</p>
<p>"Whether it is cabin fever or having a surplus of free time due to being isolated is speculative. What we do know is that there has been a significant increase in renovations being undertaken," the valuation firm said. </p>
</div>
<div class="column">
<p><span>Due to the eastern suburbs being an established, older area with a range of Italianette, Victorian, Edwardian and Art Deco homes, the opportunity for renovation is a lot higher than suburbs in developing areas.</span></p>
<p><span> In some cases, it is almost more expensive to renovate an old home with structural issues than building a new dwelling, the report noted. </span></p>
<p><span>Though, </span>due to the aforementioned style of homes being omnipresent in the Eastern suburbs, there are more restrictions for what is able to be renovated and planning approval can be more difficult and time consuming to attain.</p>
<p>Buildings that are heritage listed and suburbs with heritage overlay encumbrances can encounter obstacles when wanting to extend and renovate.</p>
<p>Largely because most heritage buildings require the front facade to structurally remain the same and there be no visibility of additional levels added to the home from the street frontage. This can greatly escalate building and labour costs.</p>
<p><span>"Depending on how far East you travel to buy a home with renovation potential, the outer East would have houses available with a purchase price of $700,000 and $1.2 million," the valuation firm said. </span></p>
<p><span>A big trend seen in Glen Waverley and Mount Waverley is for buyers to purchase run down properties and build a new home with four or five bedrooms.</span></p>
<p><span>A current listing is a four bedroom house in Mount Waverley priced at $1.38 million to $1.49 million.</span></p>
<p>The<a href="https://www.realestate.com.au/property-house-vic-mount+waverley-133783346" target="_blank"> 1 Wills Avenue </a>home (pictured below) comes with formal lounge, kitchen/meals area, family room and double carport. </p>
<p><span>It has future potential as a site for building a new home. </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/2020/6/15/mount%20waverley.jpg" alt=""></span></p>
<p><span>"While this isn’t a renovation, it is an interesting trend seen over the last couple of years," the valuation firm said. </span></p>
<p><span>The effect of COVID-19 hasn’t slowed down the </span>construction industry completely. There are still many investors who are eager to build and develop even through this uncertain time.</p>
<p>"We are seeing basic renovations begin at prices around $150,000 to $200,000 and more substantial renovations priced around $400,000-$500,000.</p>
<p>"Sub-contractors and trades are in hot demand and renovations are definitely sought after during this period of isolation," the valuation firm said. </p>
</div>
</div>
</div>
</div></body></html>

Eastern Melbourne sees a spike in renovation valuations: HTW residential 

<html><body><div class="page" title="Page 25">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Most towns on the Central Highlands of Queensland appear to be going back to normal trade apart from Moranbah which continued to strengthen throughout COVID-19, according to the last Herron Todd White (HTW) residential report. </span></p>
<p><span>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"We have seen a pick up in activity over the past two weeks in both sales and rentals," the valuation firm said </span></p>
<p><span>The report suggests renovations is a good thing for most towns on the Central Highlands with costs able to be recovered in most situations.</span></p>
<p><span>"We are seeing most mortgagee homes and lower end properties being purchased and shortly after being renovated.</span></p>
<p><span>"With a rising market we see renovators cashing in on true added value to their properties. Builders are probably evenly split currently between new homes and renovations in the area.</span></p>
<p><span>"We have now had four years of steady growth coming off a bottom in 2016, so there are many with equity to undertake improvements to their properties and we see this continuing," the valuation firm said. </span></p>
</div>
<div class="column">
<p><span>For example, a fully renovated Queenslander in Emerald was sold for $250,000 in April. </span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-132373638" target="_blank">25 Theresa Street</a> (pictured below).</p>
<p><span>It features open plan living and dining, covered verandas and above ground pool. </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/2020/6/22/emerald%20.jpg" alt=""></span></p>
<p> </p>
<p>A current listing is a four bedroom house in Emerald which has been renovated inside. </p>
<p>The family home at <a href="https://www.realestate.com.au/property-house-qld-emerald-133687746" target="_blank">7 Tineele Place</a> (pictured below) has been listed for $425,000.</p>
<p>It comes with gourmet kitchen, large dining and family room, rumpus room and in ground pool.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/emerald%202.jpg" alt=""></p>
<p><span> </span></p>
</div>
</div>
</div>
</div></body></html>

Emerald sees continuing renovation works: HTW residential 

<html><body><div class="page" title="Page 16">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Building applications have hit an all-time high in homes within Melbourne’s southeast, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>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.</span></p>
<p><span>The report notes many homeowners and investors are utilising this time to work on home improvements. </span></p>
<p><span>With the Reserve Bank’s decision to cut rates down to a low of 0.25 per cent, this means it is cheaper than ever for homeowners and investors to borrow money to make improvements.</span></p>
<div class="page" title="Page 17">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"In established areas of the South East, we have seen suburbs including Hughesdale, Parkdale and Carnegie undergo renovations," the valuation firm said. </span></p>
<p><span>A renovated Art Deco home in Carnegie has recently been sold for $1.225 million.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-carnegie-133579294" target="_blank">66 Neville Street </a>house (pictured below) comprises three bedrooms, marble kitchen, open plan living and dining area and entertaining deck.</p>
<p><span>It was last sold in 2012 for $570,500. </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/2020/6/15/carnegie%201.jpg" alt=""></span></p>
<p><span>A timber Californian Bungalow in Carnegie with potentials for renovation and extension has been listed for $1.5 million to $1.6 million. </span></p>
<p>The three bedroom, one bedroom home at <a href="https://www.realestate.com.au/property-house-vic-carnegie-133669942" target="_blank">14 Oakleigh Road</a> (pictured below) is currently under offer. </p>
<p><span>It features decked verandah, central hall, north facing lounge and Blackwood kitchen. </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/2020/6/15/carnegie%202.jpg" alt=""></span></p>
<p><span>Renovations works can range between $80,000 all the way to $300,000 for higher quality specifications. </span></p>
<p><span>Renovators are also sourcing their own materials and doing DIY jobs in order to keep costs down, the report noted. </span></p>
<p><span>Home improvements are more apparent in older homes, where owners are likely to undertake minor works or ‘gut out’ their entire home to install new finishes, appliances, fixtures and fittings while </span>still maintaining the foundation and frames of the original dwelling.</p>
<p>The results usually speak for themselves, with increasing numbers of homes becoming more spacious, modern and customised to the owner’s lifestyle.</p>
<p><span>"Renovators and investors are choosing to renovate their homes for a number of reasons; one might to improve their current home to suit their lifestyle, others are renovating so they can sell it quicker and at a higher price in this current market which can yield great results," the valuation firm said. </span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Building application hit an all-time high in homes within South East Melbourne: HTW residential 

<html><body><div class="page" title="Page 24">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Over the past month, residential property in the Rockhampton region (including the Capricorn Coast) has continued to tick over, with properties still being listed and sold despite the global pandemic, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<p><span>The report notes there has been no evidence to date of a decline in values, in fact, some sectors of the market are continuing to improve slightly (i.e. modern, well presented homes on </span>the Capricorn Coast).</p>
<p>"Regionally, we have been fortunate to continue with a very small number of COVID-19 cases which, combined with the recent easing of restrictions, is likely to support this trend to continue should the number of cases remain low in our region," the valuation firm said. </p>
<p><span>Over the past 12 to 18 months in particular, there has been a notable increase in renovation projects in a small sector of the Rockhampton market. </span></p>
<p><span>Generally, small pockets of South Rockhampton, such as The Range, Allenstown and Wandal </span>are sought after for their proximity to the CBD, schooling, hospitals and elevation available in some areas to provide city views to the east or vast hinterland views to the west.</p>
<p>However, given that the south side is characterised by Queenslander style homes and there is no room for growth or expansion due to the area being surrounded by flood plains, renovation presents the only option for those in the market wanting both southside convenience and contemporary living, the report noted. </p>
<p><span>"In the balance of the market, renovation activity is generally holding steady, with some basic dwellings receiving a renovation to then be on-sold," the valuation firm said. </span></p>
<p><span>This has started to occur after a period of very limited renovation in the low to middle sections of the market and this change is considered to be a combination of low interest rates, a preference by </span>first home buyers to want properties with nothing left to do and a consistent, moderate upturn in the local economy.</p>
</div>
<div class="column">
<p><span>Whilst the majority of the renovations seen are by long term owner-occupiers entering into a major renovation to create their forever home, there are a number of investors picking themselves up a bargain and completing a simple renovation </span>(i.e. no structural changes) to then resell with the intent of turning a profit in a market which is starting to recover from an extended period of no capital growth.</p>
<p>There has been a number of sales evidenced over recent months where a building company has purchased a rundown property in an average suburb, renovated, professionally styled the home and resold at an expected profit with a short turn around.</p>
<p>"Styling and presentation is a key factor linked to the level of profit made. First home buyers still prefer new homes, however there are some who end up buying these more affordable, renovated existing homes with nothing left to be done," the valuation firm said. </p>
<p><span>Buy in price points for renovators vary greatly. From sub-$200,000 for the investor-renovator through to $600,000 for the long term owner-occupier- renovator. End values then vary just as much.</span></p>
<p><span>The added market value of basic renovations tends </span>to match cost and when the market is starting to recover, a small profit may be had, the report suggested. </p>
<p>When a major renovation is undertaken however, it is a very different outcome. There is little to no evidence that the added value of the renovation will match or exceed the cost to construct.</p>
<p>"This is where it is important to be aware of the market in which you are renovating to determine where renovation dollars are best spent. Is it wise to make structural changes to the home or stick to cosmetic works only?</p>
<p>"A dwelling with a poor layout would benefit from a structural change to rectify, however if the existing layout is functional, that money may be better directed elsewhere," the valuation firm said. </p>
<p>The report suggests being aware of town planning is also important when planning a renovation, particularly in older areas where perhaps a heritage overlay or neighbourhood character overlay is required to be complied with.</p>
<div class="page" title="Page 25">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>For Rockhampton in particular, the renovator market is likely to continue the current trend as factors that drive the decision to renovate are considered a constant in the local market.</span></p>
</div>
</div>
</div>
</div>
<p><span> A renovated family home in West Rockhampton has recently been sold for $290,000.</span></p>
<p>The four bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+rockhampton-133516998" target="_blank">33 Stickley Street </a>(pictured below).</p>
<p>Renovated inside and out, the home features new roof, timber flooring and new hot water system. </p>
<p><span>It was last sold in 2005 for $190,000.</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/2020/6/22/rockhampton%202.jpg" alt=""></span></p>
<p> </p>
<p><span>A classic Queenslander in Lakes Creek with renovated kitchen and bathroom is currently on the market with a price guide of $350,000 -$2380,000.</span></p>
<p>The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-lakes+creek-133783858" target="_blank">604-606 Montgomerie Street</a> (pictured below).</p>
<p><span>It comes with open plan living, dining and kitchen, rear deck and rumpus room. </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/2020/6/22/lakes%20creek%202.jpg" alt=""></span></p>
</div>
</div>
</div>
</div></body></html>

Rockhampton renovation activity holding steady: HTW residential 

<html><body><div class="page" title="Page 22">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>There are opportunities available by way of renovation works in the far northern New South Wales and southern Gold Coast suburbs, according to the latest Herron Todd White (HTW) residential report. </p>
<p><span>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>The report notes the more established and desirable suburbs such as Coolangatta are showing opportunities for the savvy investor or existing resident to manufacture capital growth in an uncertain market.</span></p>
<p><span>Across most of the area, selling agents have advised a reduction in stock levels and slightly longer selling periods as a result of </span>the recent border closure and COVID-19.</p>
<p>"Be it DIYers looking to be productive during lockdown, forward-thinking homeowners looking to manufacture equity or a lack of confidence in the current market, homeowners appear to be taking the opportunity to add value to their homes through renovation works, rather than selling in a perceived slower market," the valuation firm said. </p>
<p>Predominantly the more established areas such as Tweed Heads, Palm Beach and Coolangatta have seen an increase in this style of work, however it has been noticed in the newer pockets of Casuarina and Pottsville as well. </p>
</div>
<div class="column">
<p><span>There has been an increase in smaller scale works amongst the investor space as a result of a supply increase, particularly in coastal, holiday driven areas with investors looking to secure good tenancies, the report noted. </span></p>
<p><span> Internal painting works, floor coverings and updated electrics are appearing in the market as well as minor façade updates and landscaping works.</span></p>
<p><span>A two bedroom unit in Palm Beach which was renovated throughout has recently been sold for $495,000. </span></p>
<p>The ground floor unit at 2/79-82 Townson Avenue (pictured below) comprises two bedrooms, two bathrooms and two secure car spaces. </p>
<p><span>It is located within walking distance to local shops, schools and public transport. </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/2020/6/22/palm%20beach.jpg" alt=""></span></p>
<p> </p>
<p>A currently offering is a three bedroom apartment in Tweed Head priced at $649,000.</p>
<p>The renovated apartment at 9/1 Botany Crescent (pictured below) has been offered to the market for the first time in 27 years. </p>
<p>It comes with gourmet kitchen, huge laundry and covered balcony. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/tweed%20heads.jpg" alt=""></p>
<p> </p>
</div>
</div>
</div>
</div></body></html>

Southern Gold Coast established areas see increase in renovation works: HTW residential 

<html><body>
<p>Agents in Mackay reported a slight decrease in sale volumes towards the start of COVID-19 restrictions, however as the government slowly starts to lift restrictions, volumes are slowly starting to improve, according to the latest Herron Todd White (HTW) residential report. </p>
<p>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<div class="page" title="Page 25">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The report notes new listings and property values appear to have held steady with no material change in market value.</span></p>
<p><span>The Mackay rental market was already tight prior to the pandemic with vacancy levels under two per cent, however agents have reported increased interest, particularly from fly in fly out workers who have been unable to travel due to restrictions and will </span>be further hampered by the effects of Virgin’s possible closure.</p>
<p><span>"We have not seen any indication to suggest that renovations have changed during lock down.</span></p>
<p><span>"We consider renovations to have remained steady and are still predominantly occurring in inner city locations (Mackay, East, West and South Mackay). They are generally of older style, low set or high set </span>dwellings purchased for less than $300,000," the valuation firm said. </p>
<p>There are a mix of owner-occupiers and investors looking to renovate, however the investor types tend to be tradespeople who can undertake much of the work themselves and flip them straight away.</p>
<div class="page" title="Page 26">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Depending on the size of the dwelling and the degree of ancillary improvements, they are worth between $350,000 and $550,000 on completion, the report noted.</span></p>
<p>Smaller dwellings on smaller than average lots with basic ancillary improvements are worth between $350,000 and $400,000.</p>
<p>Larger dwellings with significant ancillary improvements and over 700 square metre allotments are worth anywhere between $450,000 and $550,000.</p>
<p>A renovated house in West Mackay has recently been sold for $379,000.</p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+mackay-133582790" target="_blank">57 Mogford Street</a> (pictured below).</p>
<p>It features open plan living zone, study, storage and backyard. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/west%20mackay%20.jpg" alt=""></p>
<p>A current listing is a three bedroom Queenslander in West Mackay priced at $549,000.</p>
<p>The <a href="https://www.realestate.com.au/property-house-qld-west+mackay-133632014" target="_blank">414 Bridge Road</a> home (pictured below) comprises three bedrooms, multiple living areas, entertaining deck and in ground pool.</p>
<p>It also features features polished floors, stone bench topped kitchen and cupboard storage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/west%20mackay%203.jpg" alt=""></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Mackay renovation activities remain steady: HTW residential 

<html><body><div class="page" title="Page 25">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>There has been little change in regard to COVID-19’s impact on Gladstone’s property market, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>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. </span></p>
<p><span>This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"It’s just about business as usual for our market. Sales continue to tick over with no evidence of any further declines in value," the valuation firm said. </span></p>
<p><span>The HTW report notes rental vacancies remain tight with a vacancy rate of 1.6%, the lowest </span>they have been since the peak of the market.</p>
<p>Affordability is still the key driver in our market and while we are not out of the woods just yet, it’s looking more and more likely that COVID-19 will be remembered as just a very minor blip on the radar for Gladstone’s residential market.</p>
<p><span>In terms of renovations, there has really been very limited activity in the past 12 months, apart from every man and his dog doing minor maintenance or landscaping work during lockdown, the report noted. </span></p>
<p><span>The reason for the lack of renovation work is really unknown. Despite the market looking up, a significant portion of homeowners in Gladstone would have negative equity in their homes from the market downturn, so in essence cannot afford to renovate.</span></p>
<p><span>"We’ve seen the odd, full internal renovation, in most cases of a mortgagee sale property that is </span>in a state of disrepair and that sold towards the bottom of the market range.Completing only minor cosmetic works to these types of properties adds considerable value to the property," the valuation firm dais. </p>
</div>
<div class="column">
<p><span>While not quite considered a renovation, construction of new sheds on existing properties has surged over the past several months.</span></p>
<p><span>"The reasoning behind this sudden increase in sheds being built is also unknown. Interestingly, the size of the sheds is also increasing," the valuation firm said. </span></p>
<p><span>Once upon a time, a six metre by six metre shed in the back yard was the norm, however this is no longer the case. Longer and wider sheds with higher clearance are becoming the norm along with features such as mezzanines and internal bathrooms.</span></p>
<p><span>"We have also noticed a distinct uplift in pricing for sheds in the region. Costs appear to have jumped about $100 per square metre in the past few months and this sudden jump in cost has not yet been reciprocated in the added value of a shed to a property." </span></p>
<p>An original three bedroom home in West Stowe with a renovated kitchen has recently been sold for $278,000.</p>
<p>The four bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+stowe-132524586" target="_blank">1130 Calliope River Road</a> (pictured below). </p>
<p>It features hardwood timber floors, three bay shed and mountain views.</p>
<p>The property was last sold in 2012 for $60,000. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/west%20stowe%201.jpg" alt=""></p>
<p>A new listing is a renovated home in Sun Valley priced at $179,000.</p>
<p>The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-sun+valley-133794026" target="_blank">2 Franmaur Street</a> (pictured below).</p>
<p>It comes with three bedrooms, lounge and dining areas, functional kitchen and covered entertainment 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/2020/6/22/sun%20valley%20.jpg" alt=""></p>
</div>
</div>
</div>
</div></body></html>

Gladstone sees limited renovation activities: HTW residential 

<html><body><div class="page" title="Page 18">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>The effects of COVID-19 on Mildura housing market are mostly limited at this stage to reduced sales volumes, as vendors and purchasers take time to weigh up the implications, according to the latest Herron Todd White (HTW) residential report. </p>
<p><span>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"As we move through another month of COVID-19, there is a feeling that, in our region at least, we have mostly escaped the virus itself. There were a handful of cases identified in April, but none </span>in the past month and our community can see a path back towards a more normal life.</p>
<p>"However our economy has been detrimentally affected, with a rise in unemployment resulting from the shut down of many businesses, especially those that rely on tourism or hospitality," the valuation firm said. </p>
<p><span>The HTW report notes the effects have been most evident at the middle and upper end of the market. Agents have welcomed a return to being able to hold open inspections, which they hope will provide greater activity and confidence, however it is still too early to know what the lasting effects will be.</span></p>
<p><span>Local builders still report being busy completing work that started pre-COVID-19, and a drive around our new subdivisions shows that new construction is underway, however it is expected that the number of new builds will be reduced to some degree over the next 12 months as some people re- think their ability to take on debt at this time.</span></p>
<p><span>"There is no doubt that many people have had more free time, either through reduced employment or less recreation options on weekends. For many, this time has been devoted to some DIY maintenance in and around their homes. The Bunnings carpark test suggests that home improvement sales have been strong," the valuation firm said. </span></p>
<div class="page" title="Page 19">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Renovating older homes for a profit has not been a common activity in Mildura, in part due to a lack of older homes with enough character to be popular with owner-occupiers.</span></p>
<p><span>"We simply don’t have the stock of pre 1950s homes. There are some scattered examples though and these are usually found in preferred positions on Mildura’s west side or close to the CBD and Murray River," the valuation firm said. </span></p>
<p><span>There is considered to be good potential to renovate homes built in the 1950s and 1960s. These homes are usually conite clad, which was a building technique popular in Mildura, but rarely found elsewhere, the report noted. </span></p>
<p><span>Many examples have reasonably large rooms and the ability to extend in a complementary way.</span></p>
<p><span>A well renovated home from this era will fetch similar values to new homes built in a new subdivision, but comes with the benefit of larger land size and superior position.</span></p>
<p><span>A current listing is a 1950s weatherboard home in Mildura priced at $260,000 to $285,000.</span></p>
<p>The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-mildura-133788118" target="_blank">817-819 Fourteenth Street</a> (pictured below).</p>
<p>It features original kitchen, formal lounge, and open fire place. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/mildura%201.jpg" alt=""></p>
<p><span>For those after a less expensive challenge, there is also the potential to modernise homes built in the 1980s. </span>This is considered a good option for owner-occupiers.</p>
<p>With many local tradespeople and suppliers of floor coverings, kitchen cabinetry etc. less busy at present, now may be a good time to do this upgrading, the report noted. </p>
<p>A renovated weatherboard family home in Irymple has recently been sold for $535,000.</p>
<p>The country homestead at 3538 Benetook Avenue (pictured below) comes with four bedrooms, study, central kitchen, two bathrooms and decked entertaining area. </p>
<p>It is situated close to Irymple and Mildura's shopping precincts. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/irymple%201.jpg" alt=""></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Mildura home improvement sales remain strong: HTW residential 

<html><body>
<p>The initial stages of the COVID-19 crisis caused many sellers to shut up shop and batten down the hatches, according to the latest Herron Todd White (HTW) residential report. </p>
<div class="page" title="Page 20">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>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 report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<p><span>"First up – let’s address the current state of play under COVID," the valuation firm said. </span></p>
<p><span>The report notes some buyers believed they were about to snatch up outrageously good deals.</span></p>
<p><span>The market then settled quickly into a standoff where potential purchasers came up against a lack of stock. As such, transaction numbers dropped dramatically, but prices didn’t.</span></p>
<p><span>Now, three and half months in, the state of play is established. There is a still a wait-and-see approach being taken by owners, so buyers don’t have a heap to choose from. Prices are softer across many markets but they didn’t plummet like some may have predicted.</span></p>
<p><span>"Of course, this is an evolving situation. As we move through the machinations of the economy over the next six months - with politics, employment, finance, immigration and trade all playing their parts - thing could be turned on their head. It’s a case of wait, watch and see.</span></p>
<p><span>"Of course, the crisis has delivered us something that was in short supply for the average Aussie family – time," the valuation firm said. </span></p>
<p><span>Requests from leadership that we stay in and keep each other safe had many running to Netflix and home offices, but there was also a fair proportion of the population who used the opportunity to tackle odd jobs around the house.</span></p>
<div class="page" title="Page 20">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"Skip bins and Bunnings lines revealed that when presented with the chance to do nothing, many of us actually want to do something productive.</span></p>
<p><span>"That said, most of what we’ve seen around the suburbs was maintenance," the </span>valuation firm said. </p>
<p><span>In Brisbane at least, demand for more extensive building and renovation work looks to have slowed, the report noted. </span></p>
<p><span>Many households stepped through the uncertainty of March and April making plans to ensure that, over the foreseeable future, food would be on the table and a roof would stay overhead. Being frivolous with available cash could be hazardous with unemployment on the rise.</span></p>
<p><span>"As such, we generally observed a slowdown in substantive renovation and construction projects – particularly any ventures that involved signing a contract with a builder or tradesperson.</span></p>
<p><span>"But, as has been said many times before, you need to dig below these broad market generalisations and understand the nuances, because opportunity can be found at certain price points, property types and locations," the valuation firm said. </span></p>
<p><span>For example, prestige property is seeing relatively more renovation upgrades than homes in the affordable price sector.</span></p>
<p><span>The report notes renos of inner-city holdings at the upper-price </span>level have been mostly unaffected by the current environment. Owners are comparatively cashed up and willing to keep spending.</p>
<div class="page" title="Page 20">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"There’s plenty of reasons why. For starters, the lowest interest rates in living memory are enabling those with good financial standing to get access to cheap money," the valuation firm said. </span></p>
<p><span>In addition, the building industry has become relatively competitive under the COVID regime. Tradespeople are hungry for work and head contractors are willing to compete on price so as to secure a pipeline of projects.</span></p>
<p><span>"The flipside in Brisbane is the investor market. We aren’t seeing landlords looking to spend sums upgrading homes beyond what’s necessary at this stage," the valuation firm said. </span></p>
<p><span>There’s an expectation the rental market will continue to fall in favour of tenants with rising vacancies and falling rents, so investors are wanting to ensure they don’t spend too big too early.</span></p>
<p><span>"One thing that may well stimulate the desire for upgrades among homeowners is the work-from- home phenomena.</span></p>
<p><span>"It’s become evident many of us can operate productively from a home office. It’s also entirely possible on the other side of this event, employers will look for ways to reduce their office footprint, hoping to cut lease costs and improve the bottom </span>line," the valuation firm said. </p>
<p>The outcome may well be property owners seeking ways to adapt their current living space in order to improve their work environment.</p>
<p>Creating a work area that can be shut off from the family space will become an essential element of any home. Even if existing owners don’t look to create that for their own use, a good home office will be a feature in future real estate listings.</p>
<p>If there’s an efficient, cost-effective way to establish an office, then vendors will want to do this prior to selling.</p>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"And so on to locations if you do have a hankering for a renovation project. We’ve looked at a couple of options that might fit the bill," the valuation firm said. </span></p>
<p>For example this one at 17 Hockings Street, Clayfield (pictured below) sold mid-2019 for $660,000 as a renovation project that required a heap of TLC.</p>
<p><span>"No doubt the original features will come up a treat," the valuation firm said. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/clayfield.jpg" alt=""></span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The inner-west suburbs of Paddington, Auchenflower, Bardon and Toowong have been rife with renovation opportunities for decades.</span></p>
<p><span> In fact, there have been a few Brisbane builders who’ve grown their fortunes by concentrating solely on these locations and completing beautiful, multi- million dollar do-ups.</span></p>
</div>
</div>
</div>
</div>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>For example, this house at 12 Carey Street, Bardon (pictured below) was sold way back in October 2017 for $770,000.</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/2020/6/22/bardon.jpg" alt=""></span></p>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>It received an extensive upgrade to become an ultra-modern four-bed, three-bath, two car home (pictured below) that was purchased in March 2020 for $1.552 million.</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/2020/6/22/bardon%202.jpg" alt=""></span></p>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Family friendly addresses such as The Gap: provide opportunity for those with a tighter budget. </span>Renovatable home are available at the high-$500,000s price point.</p>
<p><span>"For those with a little more to spend, an address such as Ashgrove will set you back closer to $700,000-plus for a home with potential," the valuation firm said. </span></p>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>A perennial favourite for fixer-uppers is Petrie Terrace and Spring Hill. There are some raw homes on tiny lots for over $600,000, but it’s all about location here. </span></p>
<p><span>The report notes these suburbs are literally walking distance to the centre of town as well as entertainment and retail precincts. </span>And the results can be spectacular.</p>
<p>For example, a renovated home at 35 Sheriff Street, Petrie Terrace (pictured below) sold in November 2019 for $1,193,888. It’s on 228 square metres of land and provides four-bed, three-bath, three-car accommodation.</p>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/petrie%20terrace.jpg" alt=""></span></p>
<p><span>"Looking a bit further out and Wavell Heights has good options with very basic renovators in average positions fetching between $550,000 and $600,000 – but you need to be fast as they sell quickly," the valuation firm said. </span></p>
<p><span> Other homes in Wavell Heights that’re in quieter positions with ready access to facilities are fetching between $600,000 and $700,000 for a renovation prospect. </span></p>
<p><span>In these instances, smart renovation work will yield an end value above $1 million.</span></p>
<p><span>For more budget conscious renovation prospects, head a bit further up Gympie Road and check out Aspley and Bracken Ridge where a renovatable </span>home can be purchased in the $500,000s. This area appeals to first home buyers and project- oriented builders.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="page" title="Page 22">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"A quick tip – make sure you check the town planning guidelines and building codes before proceeding. </span></p>
<p><span>"The renovation options for Brisbane property can be limited by heritage and traditional-character overlays, building heights, setbacks, noise and flooding issues and other designations... and they can be property specific. Just because a neighbour is able to get certain works approved doesn’t necessarily mean you can," the valuation firm said. </span></p>
<p><span>"Finally, while the level of future renovation activity remains generally uncertain, falling sale numbers under current market conditions in the wake of COVID may well fuel a rise in renos, however this will be dependent on indicators such as general confidence in the market, affordability, unemployment and economic conditions." </span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Latest Building Insights

Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Building Insights

Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News