<p>National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.</p>

<p>Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373556]</p>

<p>The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.</p>

<p>Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.</p>

<p>"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.</p>

<p>"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.</p>

<p>"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373559]</p>

<p>Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.</p>

<p>The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373583]</p>

<p>Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.</p>

<p>Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373571]</p>

<p>Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>Completion of Crest &amp; Walker is slated for late 2028.</p>

<p>[smartcode_project_cta:default project_id=145922]</p>


Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

<p>The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.</p>

<p>It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.</p>

<p>Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.</p>

<p>While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68833]</p>

<p>Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.</p>

<p>The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.</p>

<p>"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.</p>

<p>"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.</p>

<p>"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=360215]</p>

<p>One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.</p>

<p>"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.</p>

<p>While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.</p>

<p>"The size of the site is something that would be incredibly difficult to replicate today," she says.</p>

<p>"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68839]</p>

<p>There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.</p>

<p>As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.</p>

<p>"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.</p>

<p>A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.</p>

<p>The remaining apartments are ready to inspect in person, by appointment.</p>

<p>[smartcode_project_cta:default project_id=6515]</p>


A decade in the making: Residents to move into Chevron One as construction wraps up

<p>A general rule of thumb in new apartment developments is that the penthouses get the rooftop.</p>

<p>It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.</p>

<p>Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.</p>

<p>The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374053]</p>

<p>"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.</p>

<p>"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.</p>

<p>"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374052]</p>

<p>The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.</p>

<p>Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.</p>

<p>The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374054]</p>

<p>Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.</p>

<p>Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370962]</p>

<p>While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.</p>

<p>It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.</p>

<p>Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=366550]</p>

<p>That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.</p>

<p>Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

<p>Repeat buyers are one of the strongest measures of confidence in any apartment development.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.</p>

<p>Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe></p>

<p>"I had some boxes I wanted to tick," he says.</p>

<p>Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.</p>

<p>“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.</p>

<p>He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356818]</p>

<p>After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.</p>

<p>"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."</p>

<p>Today, Keith says the move has completely changed how he experiences Newcastle.</p>

<p>"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356828]</p>

<p>Beyond the location, he says it's the sense of community that has surprised him most.</p>

<p>"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."</p>

<p>For Aimee and Lyle Goodman, the journey started almost by chance.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe></p>

<p>The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.</p>

<p>"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."</p>

<p>As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.</p>

<p>"We actually catch up more as a family now," Aimee says.</p>

<p>"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356829]</p>

<p>Lyle says their confidence came from GWH's reputation within Newcastle's building industry.</p>

<p>"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."</p>

<p>That confidence only grew throughout the buying process.</p>

<p>"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351104]</p>

<p>Aimee says one moment stood out.</p>

<p>"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."</p>

<p>The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.</p>

<p>Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356822]</p>

<p>ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;</p>

<p>The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356826]</p>

<p>For Keith, the appeal remains straightforward.</p>

<p>"You feel at home even before you've moved into your home."</p>

<p>For Aimee, the change is measured in time.</p>

<p>“I just felt like I had more time,” she says.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351102]</p>

<p>Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.</p>

<p>ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.</p>

<p>[smartcode_project_cta:default project_id=135096]</p>


From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

<p>Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.</p>

<p>That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.</p>

<h3>Problem solved with Parcel Lockers</h3>

<p>The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=D9hQRGCBuzlSQBqK" title="YouTube video player" width="560"></iframe></p>

<p>The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.</p>

<h3>How Parcel Lockers work</h3>

<p>The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.</p>

<p>Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.</p>

<h3>The scale of the network</h3>

<p>This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.</p>

<p>Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.</p>

<h3>What it means for developers and building operators</h3>

<p>A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.</p>

<p>Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.</p>

<p>While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.</p>

<p>For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.</p>

<h3>Who's using them</h3>

<p>Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.</p>

<p>Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.</p>

<h3>The bigger picture</h3>

<p>Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.</p>

<p>As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.</p>


How Australia Post is solving the parcel problem for apartment living

<html><body><div class="page" title="Page 35">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>To echo a similar sentiment to last month’s Month in Review, the Northern Territory is the safest place in the country, according to the June Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<p><span>"Our Chief Minister, Michael Gunner, is quotes as saying that the Northern Territory is now 'the envy of the country' and for good reason," the valuation firm sai.d </span></p>
<p><span>"Firstly, only two new COVID-19 cases this month, both of whom were diagnosed while overseas and then returned home to Darwin, taking our total to 30. </span></p>
<p>"Apart from the two recent cases who should both make a full recovery very soon, we still have no community transmission anywhere across the Northern Territory (source: Natasha Fyles, Health Minister, Northern Territory Government), a statistic championed to and throughout our community," the valuation firm said. </p>
<p><span>On the back of this, the Northern Territory government has implemented its ground-breaking road map to the new normal (source: Secure NT) that was released on 30 April. This road map allows a slow but safe return to some normalcy across the Territory not only from a health and safety but an economic point of view.</span></p>
<p><span>Stage 2 was the most recent change on 15 May which saw pubs, clubs, gyms, some indoor gatherings, museums, open homes and inspections and other businesses of the like re-open, with </span>an expected 1,500 people returning to work immediately (source: NT News). This was a welcome relief, not only as people enjoy the social interaction (from a safe distance) but also in getting the economic wheels to start turning.</p>
<div class="page" title="Page 35">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"As we start to see the easing of restrictions, how will this factor into the property market?</span></p>
<p><span>"In short, we are seeing a reduction in sales volumes, combined with a reduction in listings," the valuation firm said. </span></p>
<p><span>The March 2020 quarter saw volumes fall by 27 per cent (source: REINT magazine), however as this data is captured pre-COVID-19, the June quarter will show a clearer picture as to the full effects of the virus and its impact.</span></p>
<p><span>"Commentary in the market is echoing last month’s view of a wait and see approach as we wade through the pandemic.</span></p>
<p><span>"With the return of open homes part of the easing of restrictions, </span>hope remains that we may see an increase in transactions in the market," the valuation firm said. </p>
</div>
<div class="column">
<p><span>One positive that has come from the virus is the rise in renovations and the associated wider reaching benefits of this, the report noted. </span></p>
<p><span>A major factor in the Northern Territory has been the release of the Home Improvement Scheme. This scheme saw an initial $30 million of funding allocated to home and also business improvements where the government will give a voucher worth $4,000 if owners contribute at least $1,000 of their own money, or a voucher worth $6,000 if they contribute at least $2,000 of their own money with </span>the idea being to get screwdriver ready projects out the door.</p>
<p>The scope of possible works that could be done is quite varied and only needs to be completed by someone who is a licenced trade, not related to the recipient of the grant (source: business recovery.nt.gov.au).</p>
<div class="page" title="Page 36">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The report suggests the uptake on this was enormous. Funding was pushed out to $100 million by the Northern Territory government with the idea of getting 20,000 applications and work to be undertaken over the next six to nine months, a great incentive for not only home improvements but a kick starter for trades and services.</span></p>
<p><span>Another great positive in this scheme is that investors can also benefit, the government making it clear from the onset that investors who own a home and are a resident in the Northern Territory could also benefit.</span></p>
<p><span>Speaking with local agents, renovated homes continue to draw good enquiry and with the easing of open home restrictions, this will only improve. </span></p>
<p><span>Uptake of the scheme has also been varied, with homes in all areas and wide ranging price brackets taking up the opportunity to renovate and improve.</span></p>
<div class="page" title="Page 36">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Speaking locally, the preferred established locations are our northern suburbs, the report noted. </span></p>
<p><span>Being in a tropical climate with proximity to the beach, preferences lean towards larger outdoor living areas or the added benefit of a pool.</span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nt-anula-133034166" target="_blank">23 Yanyula Drive, Anula </a>(pictured below) is an example of a typical three- bedroom, one-bathroom home found in these, the HTW report noted. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/anula.jpg" alt=""></p>
<p><span>With the added benefit of a pool and larger entertaining area, this renovated home sold for $585,000.</span></p>
<p><span>Compare this with properties without the pool or entertaining area that are currently for sale for anywhere up to $100,000 less in some locations.</span></p>
<p><span>There are however some minor drawbacks of the scheme. Any property owned in a trust or company name cannot apply and if a property is owned in joint names, one grant will be applied to both owners. </span>Some works are excluded such as solar panels and works on a do-it-yourself basis.</p>
<p>"While these may frustrate some owners, we see great overall benefits for this scheme, not just for economic restart but the revitalisation of property in the Northern Territory as a whole," the valuation firm said. </p>
<p><span>"Where to from here? As said in previous reviews, the matter of COVID-19 is still very much in the wait-and-see position. </span>The Northern Territory has been tremendous in flattening the curve and we are now beginning to see the easing of restrictions as a result of the swift action taken.</p>
<p><span>"What does that mean for the property market?If we can continue on the current trajectory, with social distancing and also avoiding the second wave, we may see confidence return much sooner than expected with local sentiment already beginning to turn." </span></p>
</div>
</div>
<img src="blob:https://www.urban.com.au/16675c58-6ce7-434a-9b17-99817d6825fd" alt="page36image5780480" width="0.500000" height="0.500000"> <img src="blob:https://www.urban.com.au/fa1ee3ff-eefb-4c6b-ac36-19c138e303a1" alt="page36image3795856" width="0.500000" height="0.500000"> </div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Darwin property market sees benefits of the Home Improvement Scheme: HTW residential 

<html><body>
<p>The containment of COVID-19 has allowed the state government to put into action its roadmap for easing COVID-19 restrictions which was met with open arms for those in the property industry, according to the June Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<div class="page" title="Page 27">
<div class="page" title="Page 29">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>At the time of writing, South Australia has registered only one new case of COVID-19 since 23 April and has become the first state to be free of any known COVID-19 cases.</span></p>
<p><span>As of 11 May, restrictions were eased on the number of attendees at open inspections and allowing on-site auctions to take place.There is a sense of optimism in the air.</span></p>
<div class="page" title="Page 29">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>In terms of the numbers, days on the market for metropolitan Adelaide currently sits at 54 compared to 45 during the same period in 2019 whilst listing volumes nationally have trended lower, the report noted. </span></p>
<p><span>"Interestingly dwelling values have been resilient recording a 0.4 per cent increase over the month of April.Agents are reporting a similar story indicating that stock is hard to find however buyers are still active in the market," the valuation firm said. </span></p>
<div class="page" title="Page 29">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The motivations of those active in the market must be well tuned when considering a renovation. What motivates one market participant to throw on the overalls and pick up a paint brush can be vastly different to the next.</span></p>
<p><span>For owner-occupiers, a lack </span>of space during working from home arrangements may have forced the hand to give a renovation project the green light whilst a minor renovation may make an investor’s rental property stand out from the crowd in a deepening rental market.</p>
<p><span>When undertaking renovations, owner-occupiers are willing to extend themselves to achieve a level of comfort and amenity required for a long stay. </span>The thought process is spend now for what you want.</p>
<p><span>In 20 years’ time, the cost becomes negligible and you have benefited in lifestyle from the works undertaken. Conversely, investors seek out properties with good bones that need as little capital outlay as possible.Put simply, owner- occupiers will attempt to fulfil both wants and needs whilst investors look to fulfil needs.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/parkside%201.jpg" alt=""></span></p>
<p>An example of this differential can be seen in the sales of <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-133257550" target="_blank">10 Dunks Street, Parkside</a> (pictured above) and 42 Stamford Street, Parkside (pictured below).</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/parkside%202.jpg" alt=""></p>
<p><span>Each comprises a character stone dwelling on an approximately 350 square metre allotment. </span></p>
<p><span>Selling in April 2020 for $1.29 million and representing owner-occupiers, 10 Dunks Street, Parkside has been fully renovated </span>and extended comprising high quality fixtures and fittings across three levels of accommodation.</p>
<p>This property provides for the typical needs of a buyer and also the trimmings some in the market may want.</p>
<p>Conversely and representing investors, 42 Stamford Street, Parkside is currently listed for rent asking $520 per week and has had the floors polished, walls painted and the kitchen and bathrooms updated to an appealing standard.</p>
<p>This property has been brought to a standard acceptable in the market providing no more than the needs a potential occupant may seek.</p>
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"Heritage restrictions and planning overlays catering to lower density development make the inner and middle rings ripe for those looking for a renovation project," the valuation firm said. </span></p>
<p><span>The suburbs of Nailsworth, Kensington, Colonel Light Gardens and Mile End are each located within five kilometres of the Adelaide CBD and are characterised by early to mid-century homes on allotments ranging from 150 to 1000 square metres. </span></p>
<p><span>Entry price points in these suburbs range between $450,000 and $850,000 with well-established and renovated homes ranging in price from $650,000 to $1 million plus.</span></p>
<p>Ripe for a renovation is the current listing of <a href="https://www.realestate.com.au/property-house-sa-kensington-133473982" target="_blank">14 Phillips Street, Kensington</a> (pictured below), which has been advertised to the market with an undisclosed asking price.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/kensington.jpg" alt=""></p>
<p>The property comprises a brick bungalow disposed as two bedrooms and one bathroom on a 453 square metre allotment.</p>
<p>This property represents an entry level property in the suburb of Kensington.</p>
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The report suggests renovating does not solely relate to detached dwellings. Strata units are popular with first home buyers and investors given the entry price point they provide.</span></p>
<p><span>The restrictive nature of a Strata Title means renovations can only take place within the four walls of the unit. </span>This can be a good starting point for first time renovators as one can get a taste for the process whilst being limited in the extent of work that can be undertaken.</p>
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Strata units are typically found in suburbs established between 1960 and 1970 and are characterised by cream brick walls and terracotta-tiled roofs. </span>The Burnside council area in the metropolitan south-east is heavily populated with strata units.</p>
<p><span>Entry price points </span>throughout the council area range between $225,000 and $325,000 whilst renovated units become available in the high $200,000s and can push up to the low $400,000s at the top end of the market.</p>
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>A representation of an entry level property is the sale of<a href="https://www.realestate.com.au/sold/property-unit-sa-rose+park-132382350" target="_blank"> 10/1A Grant Avenue, Rose Park</a> (pictured below) which achieved a sale price of $263,500.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/rose%20park.jpg" alt=""></p>
<p><span>This property comprised a first floor unit disposed as two bedrooms and one bathroom providing original fixtures and fittings throughout.</span></p>
<p><span>The property is well located being only a short walk to Victoria Race Course and Adelaide Parklands.</span></p>
<p><span>The upper end of market parameters is represented by 6/3 Talbot Street, Erindale (pictured below) which achieved a sale price of $430,000.</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/2020/7/6/erindale.jpg" alt=""></span></p>
<p><span>This is a fully renovated, free standing unit comprising two bedrooms and one bathroom. The unit has a double carport and private courtyard.</span></p>
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>When considering a renovation, construction costs and materials can be a topic hotly debated over the dining table. </span>Construction costs appear to have remained stable over the past 12 months.</p>
<p><span>Costs can fluctuate depending on building size, quality and specification.Tastes in building materials continue to evolve with free-standing baths and glass </span>window kitchen splash backs becoming popular.</p>
<div class="page" title="Page 31">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Brick veneer and rendered hebel construction remain most common for extensions whilst vinyl timber flooring and stone bench tops have become standard inclusions.</span></p>
<div class="page" title="Page 31">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"With an uncertain sales market we may in the short term begin to see a trend where home owners renovate what they have instead of seeking something else.</span></p>
<p><span>"This coupled with record low interest rates may provide the perfect excuse to get a project moving," the valuation firm said. </span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

What motivates market participates to renovate in Adelaide?  HTW residential 

<html><body>
<p>To maximise any increase in value when renovating, it is best to do a full kitchen or bathroom renovation, according to the June Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<div class="page" title="Page 37">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"We are now, at the time of writing this, almost two months into these tough social distancing rules, restrictions and temporary closures of many businesses across many industries.</span></p>
<p><span>"Although it feels like it has been a lot longer, it is still quite early into the influence this COVID-19 pandemic is likely to have on our lives, the (macro) economy and what was and will be considered the norm for many different things moving forward," the valuation firm said. </span></p>
<p><span>When specifically looking at the residential property market, there were some obvious sudden impacts, such as the banning of on-site auctions and all open homes to be by appointment only. </span></p>
<p><span>The report notes there were also sudden changes to levels of market sentiment, for instance how confident purchasers in the market felt buying a new property and committing to a mortgage in a time of current economic uncertainty or paying top dollar for a property in a desirable location.</span></p>
<p><span>"What has been less sudden and to be frank, what most of us are interested in, is the impact on property values," the valuation firm said. </span></p>
<p><span>The property market (value speaking) is a lag indicator, so changes in value due to the COVID-19 pandemic are still too early to call, however to get some indication of where things are tracking, the best evidence to look at is: properties that have sold from April to now; how long properties are taking to sell; and whether there have been (and how many) downward price adjustments made to properties with an advertised price guide.</span></p>
<p><span>Speaking specifically of Canberra, the market has held its ground since late March with </span>prices remaining consistent with pre-COVID-19 levels, but moving forward, it may be a case of groundhog day with prices remaining where they are and growth very much negated by the fact that confident market sentiment is no longer there.</p>
</div>
<div class="column">
<p><span>The topic of renovations and value-adding is a contentious one, the report noted. </span></p>
<p><span>Generally speaking, the kitchen and bathroom areas of a property are where it is wise to invest capital, either through regular maintenance or upgrading, as these are focal communal points of a property where significant time is spent.</span></p>
<p><span>In current circumstances, it is those who bought five plus years ago who are in the best position to do this, drawing on the growth in their equity of their property from good capital growth to pay for renovations to invest back into their property.</span></p>
<p><span>A local example is a property in the south side suburb of Chisholm, which has a median house price of $607,500 (source: realestate.com.au pricing data as at 28 April 2020).</span></p>
<p><span>Comprising a small, 1990s built three-bedroom, one-bathroom dwelling with a dated fit-out located on a small block, it was purchased in 2001 for a figure in the vicinity of $150,000.</span></p>
<p><span>Valued as it was, a figure of $450,000 was adopted based on the valuation assessment method. This represented a tripling in its value over that time period just from capital </span>growth.The client was able to tap into the increase in their equity to undertake an internal renovation, the report noted. </p>
<div class="page" title="Page 37">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Those who purchased during the market peak (2018 to 2019) haven’t seen the previous levels of growth continue, so the growth in their equity may not be sufficient enough to use to undertake renovations.</span></p>
<p><span>"Day-to-day work volumes on a ground level haven’t shown any noticeable increase in the number of requests coming through for owner occupied or investor properties being renovated," the valuation firm said. </span></p>
<p><span>The desire to undertake such a project may be there, as more people work from home and become aware of dated internal fit-outs or neglected maintenance, however home renovations are likely to be considered a luxury and non-necessity, therefore in a period of restrained consumer spending, </span>there hasn’t been a sudden rise in the number of renovation jobs for established properties.</p>
<p><span>Those that are coming through tend to be owner- occupied properties, the report noted. </span></p>
<p><span>Property owners in a position to invest back into their property are doing so for their primary place of residence and it tends to be suburbs where the majority of the residential stock was established in the mid-1980s and early 1990s, such as Isabella Plains, Calwell and Theodore. </span></p>
<p><span>These properties are now 25 plus years old and are showing their age through dated internal fit-outs and worn appliances.</span></p>
<p><span>In the current circumstances, </span>these properties also tend to be the most sensible to renovate, particularly three-bedroom properties, as their buy-in price point tends to be in the low to mid $500,000 range.</p>
<p>Their post-renovation buy-in price point usually ranges from high $500,000 to mid $600,000 depending on the level of finishes and if the property is a bathroom plus ensuite property.</p>
<p>Properties within this price range are sensible to renovate as they are consistently within an in-demand price range due to their relative affordability in the context of Canberra, where the median house price at the end of 2019 was $788,621 (source: domain.com.au - Domain House Price Report, December Quarter 2019).</p>
<div class="page" title="Page 38">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"When renovating your property it is also important to consider that a half-hearted approach, so to speak, won’t necessarily see an increase in value as opposed to a full renovation, for example, if your property has a dated internal fit-out, choosing to (just) update the vanity unit in the bathroom, </span>or appliances only in the kitchen but leaving everything else as is," the valuation firm said. </p>
<p>This is often because it is an expectation of the market that these high-use items are in good working order and merely updating them is bringing the property in line with what the market expects when paying for a habitable property.</p>
<p>To maximise any increase in value when renovating, it is best to do a full kitchen or bathroom renovation.</p>
<p>A three bedroom house with a renovated bathroom in Chifley has recently been sold for $702,500.</p>
<p>The family home at <a href="https://www.realestate.com.au/sold/property-house-act-chifley-133723218" target="_blank">5 Lamb Place</a> (pictured below) was offered for sale for the first time in 54 years. </p>
<p>It comprises three bedrooms, separate lounge, meals area, double garage and covered storage area. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/chifley%20.jpg" alt=""></p>
<p>A current listing is a single level duplex with renovated kitchen in Holt, which is priced at over $498,000.</p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-duplex+semi-detached-act-holt-133902570" target="_blank">2 Bushby Place</a> (pictured below).</p>
<p>It comes with open plan living and dining areas, master room with ensuite and backyard with vegetable gardens. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/holt.jpg" alt=""></p>
<p><span>The report suggests another important thing to consider is price. It is important to source multiple quotes. </span></p>
<p><span>One local example saw a client in the suburb of Richardson source two quotes for the renovation of their </span>bathroom, which was a relatively small size, measuring 5.4 square metres.</p>
<p>The two quotes were $40,000 and $25,000. Richardson is one of Canberra’s most affordable suburbs and to outlay a significant sum for a small bathroom renovation did not make economic sense as buyer demand for high-end bathroom fit-outs in Richardson isn’t strong.</p>
<p>"Before undertaking any renovation work, consider what the market demands in a specific location in order to invest effectively and avoid overcapitalising," the valuation firm said. </p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Canberra renovation work volumes remain stable: HTW residential 

<html><body>
<p><span>Market activity in Darling Downs has slowed significantly over the past six to eight weeks as a result of COVID-19, according to the June Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<div class="page" title="Page 27">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The report notes many vendors withdrew their properties from the market during the initial shut down period and many selling agents are now reporting having limited stock on the market.</span></p>
<p><span>Selling agents are also reporting that genuine buyers are still active in the market (ie. those who had sold just prior to the COVID-19 shutdowns and need to buy elsewhere or government employees relocating) and cash buyers are beginning to emerge, seeking the opportunity for a good buy.</span></p>
<p><span>The restriction on open homes for several weeks resulted in selling agents receiving genuine buyer enquiry rather than sticky-beakers. Open homes have re-commenced in the past week and agents are reporting moderate attendance so far.</span></p>
<p><span>In the broader Darling Downs region, property managers are still reporting good demand for rental properties, the report noted. </span></p>
<p><span>There is limited short-term rental accommodation homes in this region and accordingly, it has been somewhat insulated from an influx of short-term letting properties such as those listed on AirBNB coming back on to the long- term rental market.</span></p>
</div>
<div class="column">
<p><span>"Commentary has been made by both CoreLogic and realestate.com.au representatives regarding the potential for increased demand for properties within a two hour radius of capital cities after COVID-19, due to buyers seeking a lifestyle change to less crowded regional areas and with new work from home routines having been established.</span></p>
<p><span>"This applies to many areas within the Darling Downs region and is cause for optimism in our area," the valuation firm said. </span></p>
<p><span>Renovate your way out</span></p>
<p><span>There has been a significant growth in property owners undertaking extensive renovation projects in recent years, possibly driven by television shows such as The Block.</span></p>
<p><span>In the Darling Downs region, this is particularly evident in the city of Toowoomba, the report suggested. </span></p>
<p><span>"The well regarded and sought after suburb of East Toowoomba has seen a significant amount of home-owner renovations in recent times," the valuation firm said. </span></p>
<p><span>A majority of properties in East Toowoomba are older, character timber dwellings and there has been a noticeable increase in the number of these properties being brought back to life. </span></p>
<p><span>Some note-worthy renovations for this locality have maintained the original cottage style façade but have been extended to the rear with two level, contemporary style additions.</span></p>
<p><span>"There have only been a few renovations carried out in this style so far in East Toowoomba and they have generally been completed by owners of local, custom building groups as their own personal residence and then on-sold.</span></p>
<p><span>"Therefore, it is difficult to comment on the profitability of carrying out such an extensive renovation. In many cases, this has created a great deal of interest in those particular builders and resulted in additional renovation projects for them to complete for paying customers," the valuation firm said. </span></p>
<p><span>An example provided by the valuation firm is a fully restored and renewed home in East Toowoomba. </span></p>
<p><span>The four bedroom, two bathroom home at 31 Cavell Street (pictured below) was sold for $810,000 in 2019. </span></p>
<p><span>The home comes with tiled bathrooms, covered alfresco area and terrace, private courtyard and rear studio space. </span></p>
<p><span>The original features include high ceilings and black stained timber flooring. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/east%20toowoomba%20.jpg" alt=""></span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/east%20toowoomba.jpg" alt=""></span></p>
<div class="page" title="Page 27">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 27">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Well-renovated character dwellings in East Toowoomba are generally in the $750,000 plus price bracket, depending on the size and features of the dwelling, ancillary improvements such as pools and particularly the land size.</span></p>
<p><span>Renovation costs are currently quite high and in many cases, the cost of completing an extensive renovation is not reflected as added value on a dollar for dollar basis, the report noted. </span></p>
<p><span>Nearby suburbs such as Mount Lofty and North Toowoomba are also seeing some renovation of older timber homes, but to a lesser extent than that of East Toowoomba.</span></p>
<p><span>"There is significantly less home renovation being carried out in the lower price brackets and in other suburbs across Toowoomba. We also note that there is limited renovation activity in our regional areas such as Warwick, Stanthorpe, Gatton, Kingaroy and Dalby," the valuation firm said. </span></p>
<div class="page" title="Page 28">
<div class="section"><img src="blob:https://www.urban.com.au/0e70c5b9-3560-4955-b2ef-fd7515ea97ae" alt="page28image3732000" width="0.500000" height="0.500000"></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Extensive home renovation projects grow significantly in the Darling Downs region: HTW residential 

<html><body><div class="page" title="Page 31">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>To date, there are still no clear indications of the impact of COVID-19 on property values in the Mount Gambier region, according to the June Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"Whilst the market has softened as a direct result of government enforced restrictions and general economic uncertainty, we are yet to see this reflected in any value correction.</span></p>
<p><span>"As restrictions begin to ease and some normality resumes, we remain positive that the impact will be limited, however we are not naive to the fact that there will be ramifications within the property market," the valuation firm said. </span></p>
</div>
<div class="column">
<p><span>What about renovations?</span></p>
<p><span>Bunnings is certainly packed on the weekends and our DIYers are making the most of lock down time! However, from what we can see at the moment, it would appear as though the top priority on everyone’s renovation list is to complete small jobs that were already on the to do list," the valuation firm said. </span></p>
<p><span>Larger renovations often take longer to plan and generally rely on the availability of tradies and they are not easy to grab in our region at short notice.</span></p>
<p><span>"In our region, major renovations need to be considered quite carefully. The cost of demolition, altering and reconfiguring existing improvements can quickly make any renovation very expensive, without necessarily seeing any improvement in the dwelling," the valuation firm said. </span></p>
<p><span>"Prior to completing any major renovations we would recommend that home owners ascertain the current value of their home (have a valuation done), consider the cost of the proposed renovations and then add the two amounts together. </span></p>
<p><span>"What can you buy in the current market for a similar price? Are you best to do the proposed renovations or perhaps consider buying a property at a similar total cost where someone has already done all the hard work? This is a simple way to have an informed opinion on the best way to tackle the question of whether to renovate or not." </span></p>
</div>
</div>
<span><img src="blob:https://www.urban.com.au/4b0eba65-746c-4da6-b89f-1141fb1e0b52" alt="page31image3738448" width="0.500000" height="0.500000">A renovated three bedroom home in Mount Gambier has recently been sold for $297,000.</span>
</div>
<div class="section"><span> </span></div>
<div class="section"><span>Set on a 641 square metre block, the 10 Degaris Street home (pictured below) comes with lounge room, renovated kitchen, and paved pergola area. </span></div>
<div class="section"><span> </span></div>
<div class="section"><span>The property was last sold in 2012 for $210,000.</span></div>
<div class="section"><span> </span></div>
<div class="section"><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/mount%20gambier%202.jpg" alt=""></span></div>
<div class="section"><span> </span></div>
<div class="section"><span>A current listing is a renovated three bedroom home in Mount Gambier with a price guide between $175,000 to $185,000.</span></div>
<div class="section"><span> </span></div>
<div class="section"><span>The 53 Boandik Terrace home (pictured below) comes with open plan lounge and dining, three carpeted bedrooms, tiled bathrooms and separate lounge. </span></div>
<div class="section"><span> </span></div>
<div class="section"><span>It is located just a short walk to schools and shopping centre. </span></div>
<div class="section"><span> </span></div>
<div class="section"><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/mount%20gambier%203.jpg" alt=""></span></div>
<div class="section"><span> </span></div>
</div></body></html>

Major renovations in Mount Gambier need to considered carefully: HTW residential

<html><body><div class="page" title="Page 32">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="column">
<p><span>The COVID-19 restrictions have given homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes, according to the June Herron Todd White (HTW) residential report. </span></p>
</div>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>Corelogic recorded a 0.2 per cent price increase in the Perth median house price to $477,000 throughout April, indicating that values remained steady in the initial impact stages of COVID-19.</span></p>
<p><span>The number of listings decreased five per cent compared to the previous month with 11,670 properties recorded for sale at the end of April, which is below historical numbers and indicates that the market is moving towards a period of undersupply – depending on where demand levels out.</span></p>
<p><span>When home open inspections were temporarily banned due to the Coronavirus restrictions, the Real Estate Institute of Western Australia (REIWA) recorded under 300 sales transactions per week during April compared to recording over 500 transactions per week over the same period last year. </span></p>
<p><span>The week ending 10 May recorded a 32.7 per cent increase in sales activity with 527 sales recorded in the Perth region compared to the previous week. </span></p>
<p><span>Confidence within the market is slowly beginning to recover which has been helped by home opens being reinstated with a maximum of 10 people allowed and a further maximum of 20 people allowed as of 18 May.</span></p>
<p><span>Within Perth, the REIWA recorded 5420 properties for rent as of 10 May, which is a four per cent decrease in comparison to four weeks before and 23 per cent lower than this time last year.Leasing activity has increased by 31.5 per cent from the end of April to the start of May.</span></p>
<p><span>Until recently, agents across south-west Western  Australia were experiencing very few enquiries and were frustrated by the inability to interact with potential purchasers due to restrictions on home opens.As a result of the lack of sales transactions, it has been difficult to get any firm idea as to the effect on values.</span></p>
<p><span>"The easing of Coronavirus restrictions has seen a flurry of new enquiries however it is not yet back to the pre- pandemic levels," the valuation firm said. </span></p>
<div class="page" title="Page 32">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Prior to the world pandemic, Western Australia’s property market was improving consistently with consecutive levels of growth being recorded, the report noted. </span></p>
<p><span> Senior Research Analyst for Domain, Nicola Powell, said that houses in Perth were being discounted at an average rate of 7.85 per cent during April, compared to 11.9 per cent recorded last year.</span></p>
<p><span>One real estate agent reported that 60 per cent of their transactions were between one and three per cent of the original asking price.</span></p>
<p><span>"Many believe that Western Australia will perform stronger than other states given its stage of the property cycle before the impact of COVID-19, however many industry experts have stressed concern that the government incentives are only a short term solution and that we could be in for more pain in the long run," the valuation firm said. </span></p>
<p><span>Renovations</span></p>
<p><span>The Coronavirus pandemic has produced very few upsides, however one positive outcome has been the increased time spent with our families, friends and loved ones, the report noted. </span></p>
<p><span>The extended homestay period has brought boredom to a whole new level for some. The COVID-19 restrictions have given stir-crazy homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes.</span></p>
</div>
<div class="column">
<p><span>"Renovating is well known for increasing the value of property as well as bringing new life to dated dwellings, however we do know that alterations almost never boost value at a one-to-one ratio with cost," the valuation firm said. </span></p>
<p><span>With many experts tipping the Australian property market to plummet between one to twenty per cent over the coming year, renovating could look like a fine prospect to offset some of that damage for people with job security.</span></p>
<p><span>Though solid statistics are sparse, one article by 9 News suggests that Australian renovation jobs were down 15.55 per cent in April 2020 compared to March, however this is not in line with the anecdotal evidence we are seeing on the ground.</span></p>
<p><span>Commonwealth Bank of Australia economist, Gareth Aird, recently said that “there has been a 25 per cent increase in credit and debit spending on household furnishings and equipment compared to a year ago”.</span></p>
<p><span>Simon Bligh, Chief Executive Officer of credit bureau Illion, said the average Australian spent 38 per cent more per week on home improvement compared to before the lockdown (Sydney Morning Herald, 2020).</span></p>
<p><span>"Although renovation work generally drops when there’s a dip in consumer confidence, this has never been combined with residents having spare time around the house, so it will be interesting to see which way the pendulum swings over the June quarter, especially since restrictions appear to be changing almost weekly," the valuation firm said. </span></p>
<div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>In the early stages of the pandemic, much of the expectation was for renovation work to slow down as the supply chain for home improvement parts and equipment was halted and product availability from China was lacking, the report noted. </span></p>
<p><span>On top of this, looming social distancing restrictions posed a threat to tradespeople working in close quarters. Fortunately, as of 18 May, restrictions were relaxed to allow gatherings of up to 20 people. </span></p>
<p><span>This should provide some relief to developers, builders and tradespeople alike, however applying the four square metre rule may still be tricky in some work sites.</span></p>
<div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Many building and renovation businesses have had to change the way they operate alongside the rest of the country by adding services such as video call consultations, where consultants take a virtual tour through the home as the owner shows them around.</span></p>
<p><span>Small projects such as updating blinds and carpets, landscaping, gardening and painting have seen Bunnings and other outlets quickly run out of stock and many residents have become keen DIYers during long stretches at home.</span></p>
</div>
</div>
</div>
</div>
<div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>In terms of what we have experienced here in Western Australia, chatting with agents, property managers, investors and homeowners suggests that renovation work has in fact increased, particularly in the upper middle price bracket of circa $700,000 plus. </span></p>
<p><span>This may be due to hierarchal employment and the fact that younger and older, lower income earners have (generally) been hit the hardest or are not in a financial position to be thinking of renovating.Historically low interest rates have clearly been enticing homeowners into refinancing to top up their borrowings.</span></p>
<p><span>Historically low prices provide fantastic opportunities for anyone willing to tackle a new renovation here in Western Australia.</span></p>
<p><span> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/parkwood.jpg" alt=""></span></p>
<div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The Parkwood property at 23 Romney Way (pictured above) is under contract for $370,000.</span></p>
<p><span>The circa 1974 build comprises four bedrooms, one bathroom and a single garage with an attached carport, built on a 713 square metre allotment.</span></p>
<p><span>This shows exceptional value for money if you are willing to get your hands dirty and renovate, as the same block of land ten kilometres further from the CBD can cost substantially more – minus the hous</span></p>
<p><span> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/piara%20waters.jpg" alt=""></span></p>
</div>
</div>
</div>
</div>
<div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>This Piara Waters property at 7 Artisan Pass (pictured above) sold in February 2020 for $810,000.</span></p>
<p><span>The circa 2009 build comprises four bedrooms, two bathrooms and a double garage on a 713 square metre allotment.</span></p>
<p><span>Despite the glaringly obvious difference in the quality of improvements, it really does demonstrate the value for money in older suburbs where you can give properties a new life.</span></p>
<p><span>"If you spent $350,000 demolishing and rebuilding the Parkwood property, or less on a smaller scale renovation, then you could have a similar quality build on the same amount of land for cheaper and ten kilometres closer to the city," the valuation firm said.  </span></p>
<div class="page" title="Page 34">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The cost of renovating during the Coronavirus pandemic has seemingly remained stable (though it is hard to tell as prices fluctuate significantly from builder to builder), only increasing if time is a major factor or if products aren’t available from the usual suppliers.</span></p>
<p><span>"We have however heard of projects being quoted with extended completion times due to social distancing restrictions. This should ease up as restrictions are loosened over coming months."</span></p>
<p><span>Generally, the cost of a major kitchen renovation starts from circa $20,000 and can increase upwards of $50,000 depending on the size of the kitchen, whether you are removing walls or choosing high quality, unique fixtures and finishes. For bathrooms, major renovations start at circa $15,000 and can carry on upwards of $30,000 (again depending on several factors).</span></p>
<p><span>These costs can of course be lower if you are only completing minor works, spend wisely or assist in the works yourself.</span></p>
<p><span>As noted in previous editions, Houzz Australia’s 2016 Houzz and Home Report states that homeowners spent an average of $31,000 on major renovations of a large kitchen (more than 12 square metres) where all appliances and cabinetry were replaced and $21,840 for a small kitchen (less than 12 square metres).</span></p>
<p><span>The Houzz and Home Report also showed that the average spend on major bathroom renovations was $16,440 for a large bathroom (more than five square metres) and $14,770 for a small bathroom (less than five square metres) (Domain, 2017).</span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="page" title="Page 34">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"Entry prices for new dwellings come in at circa $190,000 plus for a completed product.If you add in the cost of a potential demolition ($15,000 to $25,000), then you’re looking at a minimum of $200,000 to $250,000 for a standard project style build.Consider renovating if your home is looking a little dated, but you love the area you live in.</span></p>
<p><span>"You can get a completely new look and fresh feel for easily under $100,000, or if you live in an older character home, finished renovations can look amazing and can be highly contested when put up on the market," the valuation firm said. </span></p>
</div>
<div class="column">
<p><span>Suburbs such as Mount Hawthorn, Wembley, and Mount Lawley, all being within five kilometres of the CBD, have seen a flurry of action recently. </span></p>
<p><span>Further out of central Perth, suburbs such as Canning Vale and Atwell are creeping towards the ripe renovation age of between 30 and 35 years old - this is the median dwelling age for renovations.</span></p>
<p><span>"Canning Vale was zoned rural under the Metropolitan Region Scheme until 1994, making the residential development’s age around 25 years old, so we should start to see an influx of renovation projects in these areas throughout the pandemic and beyond," the valuation firm said. </span></p>
<p><span>The main areas ripe for renovation in the south- west tend to be older character homes in South Bunbury and East Bunbury, the report noted. </span></p>
<p><span>A character home in need of renovation can be picked up for mid- $300,000s and once renovated, can sell for mid to high $500,000s, with higher values achievable after extensions or additions.</span></p>
<p><span>Other areas such as Busselton can see older homes renovated, usually as the front lot of a strata development however they are usually demolished to make way for modern units.</span></p>
<p><span>The cost of renovations and additions are such that it is often just as affordable to construct a project style home as is the case in many of the smaller country towns.</span></p>
<p><span>"In summary, there are many areas throughout Western Australia where renovation projects are a worthwhile exercise – however there are also areas that are ripe for gentrification, where the value add of a new dwelling easily outstrips the prospects of a renovation.</span></p>
<p><span>"Part of our service offering is the ability to offer before and after valuations based on your project plans. When weighing up where to spend your hard earned savings, it’s well worthwhile paying for some professional advice."</span></p>
</div>
</div>
<span><img src="blob:https://www.urban.com.au/f8d8fbc7-8ab2-4296-855e-7388511929e4" alt="page34image5791504" width="0.500000" height="0.500000"> <img src="blob:https://www.urban.com.au/7125ecc9-16a3-495a-aaa6-16809c9ba3dc" alt="page34image5806064" width="0.500000" height="0.500000"></span>
</div>
</div>
<p><span> </span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Are renovation projects worthwhile in Perth? HTW renovation 

<html><body><div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Renovation is a hot topic at the moment through the northern corridor and southern Logan suburbs, 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>"Particularly for home occupiers who have experienced a reduction in work, COVID-19 has presented an opportunity for some to finally get around to those renovation works or cosmetic improvements that have been put on the back burner for the past three, five or maybe even ten years," the valuation firm said. </span></p>
<p><span>The report notes so far, suburbs such as Upper Coomera, Ormeau and Beenleigh have seen a rise in the number of houses currently undergoing or recently having completed renovations or minor cosmetic work, some with the intention of increasing their equity, others erring on the side of over capitalisation.</span></p>
<p><span>A renovated family home located in the heart of Upper Coomera was sold for $470,000 in May. </span></p>
<p>The house at <a href="https://www.realestate.com.au/sold/property-house-qld-upper+coomera-133278734" target="_blank">13 Manassa Street </a>(pictured below) comes with four bedrooms, modern kitchen, outdoor alfresco area and double garage. </p>
<p><span>It is situated within close proximity to the new Westfield and theme parks. </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/upper%20coomera.jpg" alt=""></span></p>
<p> </p>
<p><span>"Over-capitalisation isn’t a worry to some, particularly rural residential property owners in the south and south-west Logan areas, as some people would prefer to invest their spare cash into their </span>current property and avoid the hassle of moving house due to upgrading and relocating," the valuation firm said. </p>
<p>A current listing is a four bedroom house on 2 hectares located in South Maclean. </p>
<p>The family home at<a href="https://www.realestate.com.au/property-house-qld-south+maclean-133825702" target="_blank"> 218 Pennine Drive</a> (pictured below) comes with renovated kitchen, large family room and outdoor living areas.</p>
<p>It also features animal shelters, storage shed, and colour bond shed with workshop. </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/south%20maclean%201.jpg" alt=""></p>
</div>
<div class="column">
<p><span>"Over the past two months, we have seen owners begin to undertake small scale projects such as retaining walls, concreting, new sheds and landscaping and even renovation or extension projects amounting to up to $325,000 and everything in between.</span></p>
<p><span>"While we have so far noticed only a small increase in current or recently completed renovation projects, this is a popular topic and people are spending more time at home at the moment, so this trend is likely to increase," the valuation firm added. </span></p>
<p><span>Buyers are quite cautious at the moment and properties requiring work sell for a significantly discounted price, so while the market might present some opportunities to pick up a discounted renovator, as a buyer, caution is to be exercised as the future of the property market and economy remains uncertain, the report noted. </span></p>
</div>
</div>
</div>
</div></body></html>

North Gold Coast sees a rise in home cosmetic improvements: HTW residential 

<html><body><div class="page" title="Page 22">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>In the Gold Coast north-east area from Southport to Hope Island and out to the M1, home renovation works appear to be on the rise, 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 investors conducting any more than cosmetic works such as painting and floor coverings are rarely seen, resulting in the owner-occupiers conducting the majority of renovation works.</span></p>
<p>"These owner-occupiers are opting to renovate rather than relocate, with the supplementary aim of manufacturing equity within their property," the valuation firm said. </p>
<p>The central and north location is an established area and discussions with home owners conducting renovation works is that they like the area in which they live and for the cost of relocation, the decision to renovate or extend their existing dwelling is a more desirable option.</p>
<p><span>Furthermore, in areas such as Southport and Labrador, the option to increase income through granny flat extensions or to build in self-contained flats underneath high set homes is also being exercised due to the opportunity of an increased yield on the property, the report noted. </span></p>
<p><span>A renovated ground floor apartment in Southport has recently been sold for $230,000.</span></p>
<p>The apartment at<a href="https://www.realestate.com.au/sold/property-unit-qld-southport-133556622" target="_blank"> 3/3-5 Norman Street </a>(pictured below) comprises one bedroom, one bathroom, separate laundry and updated kitchen. </p>
<p>It is situated within a managed complex with in ground pool and spa. </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/southport.jpg" alt=""></p>
<p>A new listing is a large renovated duplex in Labrador priced at $775,000.</p>
<p>The six bedroom, four bathroom home is situated at <a href="https://www.realestate.com.au/property-house-qld-labrador-133806574" target="_blank">1&amp;2/248 Central Street </a>(pictured below).</p>
<p>It comes with renovated kitchen, courtyard and parking space for 6 cars. </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/labrator.jpg" alt=""></p>
<div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>At present, due to COVID-19, the current economic climate appears to be uncertain with limited quality properties on the market and owner-occupiers choosing to use their spare time to improve their homes, in which they are spending more time.</span></p>
<p><span>"However, we do caution renovators not to over capitalise as cost does not necessarily equal value. Be mindful of the median price point in your area as well as what drives purchasing decisions for the broader market," the valuation firm said. </span></p>
<p><span>"For example, installing a $10,000 water feature in a $400,000 house may not equate to a good return on investment if you plan to sell the property in the short to medium term.</span></p>
<p><span>"A recommended exercise is to outline your renovation plans and then look, with an unbiased opinion, at recent sales in the area similar to your proposed plans in order to justify the expense you are considering." </span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Home renovation works on the rise in Gold Coast North East: HTW residential 

<html><body><div class="page" title="Page 22">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Whilst there is still a degree of uncertainty in the market, a growing number of home owners in the central Gold Coast area are preferring to wait out this period before putting their property up for sale, 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 lockdown has certainly provided us with a great opportunity to take care of any maintenance issues and even make some cosmetic improvements to our property investments," the valuation firm said. </span></p>
<p><span>The report notes to date it has been the budget-conscious owner- occupier looking to take this time to complete some renovation work.</span></p>
<p><span> Many of these owner-occupiers are only completing small scale DIY cosmetic </span>work (ie. new paintwork, general repairs) and are not looking to spend too much money on trades.</p>
<p>Owner-occupiers who are carrying out larger scale renovation works on their properties at the moment are generally people with building skills or who work in the construction industry.</p>
<div class="page" title="Page 22">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"Local agents actively selling in the central Gold Coast area have reported that even though stock levels are low and demand levels have remained fairly steady, properties are generally taking longer to sell now.</span></p>
<p><span>"They advise that buyers are becoming more discerning as there is less urgency in the marketplace at the moment compared with last year," the valuation firm said. </span></p>
<p><span>Interestingly, the overall presentation of a property is becoming more of a critical issue, the report noted. <br></span></p>
<p><span>"Some agents in Broadbeach Waters recently noted that if the property is not well presented or has some outstanding repair issues, it could result in a significantly discounted sale price, so there may not be a better time to get those odd jobs done around the house!" the valuation firm said. </span></p>
<p><span>A renovated unit located in the heart of Broadbeach has recently been sold for $680,000.</span></p>
<p>The beachside home at <a href="https://www.realestate.com.au/sold/property-house-qld-broadbeach-133595050" target="_blank">1/20 Britannia Avenue </a>(pictured below) comes with open plan living and dining, three bedrooms, chef's kitchen and lock up garage. </p>
<p><span>It also features private courtyard, additional undercover car space and separate toilet. </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/broadbeach%201.jpg" alt=""></span></p>
<p>A current listing is a three bedroom house in Broadbeach Waters priced at $1.1 million. </p>
<p>The waterfront home at <a href="https://www.realestate.com.au/property-house-qld-broadbeach+waters-133635442" target="_blank">4 Alvarado Court</a> (pictured below) has been renovated. </p>
<p>It features open plan living, kitchen with granite island bench, entertainment deck and zen garden. </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/broadbeach%20waters.jpg" alt=""></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Central Gold Coast sees small scale renovation work during COVID-19: HTW residential 

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span>The NSW Government has released an awareness campaign to remind DIY enthusiasts to plan, prepare and check for asbestos if they are renovating an old home.</span></p>
<p><span>Renovation works may disturb asbestos, particularly in houses and sheds built before 1990, and the tagline </span><span>Asbestos lurks in more places than you think</span><span>, reminds DIY renovators and tradies to check for asbestos before renovating or building.</span></p>
<p><span>Environment Minister Matt Kean said this long weekend provides an ideal opportunity to tackle a DIY project but only if it is done safely and carefully.</span></p>
<p><span>“You can’t always tell what products contain asbestos just by looking,’’ </span><span>Mr Kean said today.</span></p>
<p><span>Even though it has been banned in Australia since 2003, at the height of its use asbestos was in over 3,000 products with many of these products still in homes and workplaces </span><span>– </span><span>especially those built before 1990.</span></p>
<p><span>“</span><span>We want homeowners to m</span><span>ake use of Government’s Asbestos Fin</span><span>der </span><span>asbestos.nsw.gov.au </span><span>or arrange an assessment from a licensed asbestos assessor before starting a renovation to best protect </span><span>your family, neighbours and the wider community,” </span><span>Mr Kean said.</span></p>
<p><span>“Checking before you start will keep you and your family safe.”</span></p>
<p><span>Everyday products that could contain asbestos include:</span></p>
<ul>
<li>
<p><span>roofs, eaves, downpipes and insulation</span></p>
</li>
<li>
<p><span>interior walls (often with a non-asbestos covering on the outside)</span></p>
</li>
<li>
<p><span>kitchen splashbacks</span></p>
</li>
<li>
<p><span>under lino, some carpets and tiles (and the cement compounds used to fix tiles)</span></p>
</li>
<li>
<p><span>lagging around pipes, inside fuse boxes or as part of ventilation shafts</span></p>
</li>
<li>
<p><span>fences, garden sheds and small outdoor construction like chicken coops</span></p>
</li>
<li>
<p><span>bonded cement sheeting that make up walls, which can be disturbed when sanded in </span>preparation for painting.</p>
</li>
</ul>
</div>
</div>
</div></body></html>

Latest Building Insights

How Australia Post is solving the parcel problem for apartment living

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Building Insights

How Australia Post is solving the parcel problem for apartment living

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News