<p><a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.</p>

<p>VIP buyers are now being engaged, with a full public sales launch coming later this year.</p>

<p>Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371113]</p>

<p>The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;</p>

<p>CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;</p>

<p>“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371114]</p>

<p>“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;</p>

<p>The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;</p>

<p>Construction is scheduled to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=150489]</p>


Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

<p>Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.</p>

<p>Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.</p>

<p>What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.</p>

<p>The appeal is relatively straightforward: flexibility.</p>

<p>Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.</p>

<p>For apartment residents in particular, the system has become increasingly valuable.</p>

<p>Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.</p>

<p>Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.</p>

<p>That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.</p>

<p>Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.</p>

<p>The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.</p>

<p>Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.</p>

<p>Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.</p>

<p>The timing of that expansion aligns with broader changes in Australian shopping behaviour.</p>

<p>The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.</p>

<p>That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.</p>

<p>Parcel Locker systems have increasingly been viewed as part of the long-term solution.</p>

<p>The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.</p>

<p>Now, however, the convenience factor is driving mainstream usage.</p>

<p>For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.</p>

<p>The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.</p>

<p>The Parcel Locker model is also beginning to influence property development itself.</p>

<p>Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.</p>

<p>For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.</p>

<p>That reflects a wider evolution in how residential buildings are designed.</p>

<p>Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.</p>

<p>Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.</p>

<p>What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.</p>

<p>And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.</p>


How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

<p>Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.</p>

<p>Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;</p>

<p>David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;</p>

<p>“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;</p>

<p>Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;</p>

<p>At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;</p>

<p>Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;</p>

<p>Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;</p>

<p>However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.</p>

<p>Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;</p>


Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.</p>

<p>The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”</p>

<p>The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.</p>

<p>“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”</p>

<p>From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.</p>

<p>“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”</p>

<p>The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.</p>

<p>“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.</p>

<p>Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.</p>

<p>&nbsp;</p>


Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Adelaide

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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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j.ballantyne1990-6AQqhLzZaK

What motivates market participates to renovate in Adelaide?  HTW residential 

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<p>Unit rents in Adelaide remain the second most affordable of any Australian capital, recording the strongest annual growth since 2011, according to the June Quarter report from Domain</p>
<p>Adelaide is one of the stronger rental markets of all the major capitals. For those looking to move to the city, securing a lease remains competitive.</p>
<p>It has the second lowest vacancy rate, which has declined and steady asking rents.</p>
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<p><em>June 2020 QoQ change for Adelaide rental prices</em></p>
<p>“Adelaide asking rents are steady at the record high hit last quarter, at $395 a week for houses and $320 for units. Over the June quarter, house rents held steady in only two cities, Adelaide and Darwin. Adelaide remains the second most affordable city to rent a house and could overtake Brisbane in coming months if rents continue to fall there. Rents remain lower compared to other capitals, but relative affordability is declining for units - prices in Adelaide have recorded the strongest annual growth since 2011. Adelaide offers greater value for money compared to other capital cities. As we resurface from the coronavirus lockdown, it could become a drawcard destination for those seeking affordability.”</p>
<p>“Securing a lease remains competitive because Adelaide has one of the stronger rental markets of all the major capitals. It has the second lowest vacancy rate, which has declined, and steady asking rents. Advertised rentals lifted early in the year, helping to keep rents stable, but stock levels appear to be shrinking again. Investor activity has been subdued in recent years and multi-unit construction targeted at investors constrained compared to other cities. This has helped to limit rental supply,” said Domain Senior Research Analyst, Dr Nicola Powell.</p>
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Adelaide unit rents remain second most affordable in Australia: Domain

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<p>Property investors will never let the facts get in the way of an entrenched attitude. </p>
<p>Clinging to cherished beliefs, most of them based on myth and misinformation, is the hallmark of the typical Aussie wannabe investor - and the reason why most of them get ordinary results from buying at the wrong time in the wrong place.</p>
<p>Against that background, I find that the hardest sell in Australian real estate is trying to convince people that Adelaide is not only worth considering, but is one of the very best locations to target for a combination of affordability, value for money, good yields and potential for capital growth. And that regional South Australia has been one of the nation’s best performers in recent times. </p>
<p>I will, nevertheless, persist.</p>
<p class="BodyCopy">The standout consistency of Adelaide real estate is demonstrated by our latest (Winter 2020) survey of sales activity and prices. The city’s resistance to the forces of Covid-19 is shown by the number of suburbs with sales growth and the number with annual uplift in their median prices.</p>
<p class="BodyCopy">The Winter 2020 survey has identified 51 Adelaide suburbs with rising sales activity. This compares with just 32 in the much larger city of Melbourne.</p>
<p class="BodyCopy">In terms of price performance, almost two-thirds of Adelaide suburbs have recorded annual growth in their median house prices, almost identical to the result three months ago in our Autumn 2020 survey. Once again, Adelaide is delivering on its reputation for steadiness.</p>
<p class="BodyCopy">Here’s what I said about Adelaide in the Price Predictor Index published nine months ago: “Adelaide is the standout market in capital city Australia. Its consistency of sales performance is remarkable and two-thirds of its suburbs have had price growth in the past year, led by double-digit rises in top-end markets.</p>
<p class="BodyCopy">“Adelaide is undoubtedly Australia’s most under-rated market. It keeps delivering good sales activity and above-average results on house prices.</p>
<p class="BodyCopy">“In the five years Hotspotting has been conducting quarterly surveys of sales activity and price trends, Adelaide has never delivered a poor result. Most cities have had peaks and troughs in that time, but Adelaide just keeps on producing steady markets with consistent demand.”</p>
<p class="BodyCopy">Nothing has changed, despite the negative forces of Covid-19. Adelaide and South Australia have handled the pandemic better, in health terms, than any other state and its economy has showed resilience. This has been reflected in its real estate markets.</p>
<p class="BodyCopy">One of the strengths of the Adelaide market is that the prosperity is widely spread across the metropolitan area. There are 10 Local Government Areas with three or more suburbs with upwardly-mobile markets.</p>
<p class="BodyCopy">While sources such as CoreLogic and SQM Research often report annual growth of only 1-2% in Adelaide house prices, these generalised figures disguise individual areas which have done better. Our suburb-by-suburb analysis shows that over 60% of Adelaide suburbs have median house prices higher than a year ago. </p>
<p class="BodyCopy">Regional South Australia is the most surprising market in the nation. There is uplift in sales activity in most locations across the state and the vast majority of regional towns have recorded price growth in the past 12 months, with most up by more than 5%.</p>
<p class="BodyCopy">This market has been a consistently strong performer in recent years but is unlikely to ever receive any media recognition for it.</p>
<p class="BodyCopy">In the Spring 2019 edition of <em>The Price Predictor Index</em> nine months ago, we commented: “It would surprise many property observers to learn that three-quarters of the towns in Regional South Australia have recorded price growth in the past 12 months, including some which have achieved double-digit increases.”</p>
<p class="BodyCopy">In the Autumn 2020 edition three months ago we said: “Regional SA continues to perform, with significant increases in median house prices in many locations. And we now have steady upward trends in sales activity in areas that have not previously featured …”</p>
<p class="BodyCopy">And, notwithstanding the impacts of the pandemic period, Regional SA continues to deliver strong results. Of the 33 locations ranked in our survey, 17 are rated as rising markets, six are ranked as consistency markets and the other 10 are plateau markets.</p>
<p class="BodyCopy">Whyalla is continuing its recovery; Mount Gambier continues to be a growth market; and the Victor Harbor area has enhanced its status as a solid performer.</p>
<p class="BodyCopy">There has been a big revival in prices in Whyalla, which was previously mired in a significant downturn. In the past 12 months, growth in median prices has included 29% in Whyalla, 31% in both Whyalla Stuart and Whyalla Jenkins, 20% in Whyalla Playford and 12% in Whyalla Norrie.</p>
<p class="BodyCopy">To put this into perspective, these locations are rising from a very low base. Whyalla Stuart’s median house price has increased 31% in 12 months but remains at just $130,000. Whyalla Norrie’s median house price is just $145,000, despite an annual rise of 12%.</p>
<p>Nevertheless, prices are heading in the right direction, on the back of improved sales activity. </p>
<p>Other locations to record good median price growth over the past 12 months include Tanunda (12%), Naracoorte (10%), Kapunda (11%), Millicent (10%) and Mannum (10%). In the busy markets of the Alexandrina LGA, Middleton is up 10% and Hindmarsh Island has risen 16%.</p>
<p class="BodyCopy">Alexandrina, south-east of Adelaide, continues to be the individual star in terms of sales activity. Most of the main centres in this municipality – Goolwa, Goolwa South, Hindmarsh Island, Middleton and Strathalbyn – have been classified as rising markets in our latest survey.</p>
<p class="BodyCopy">The Victor Harbor area is the other standout. This LGA often features in our reports as the steadiest of performers. In this new survey, Hayborough, McCracken, Victor Harbor and Port Elliot are all classified as rising markets. Prices are rising moderately in this market, generally around 3-5% in the past year. </p>
<p>T<em>erry Ryder is the founder of hotspotting.com.au</em></p>
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Adelaide one of the best real estate performers in Australia: Hotspotting’s Terry Ryder

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<p>The Adelaide metropolitan suburb profiles vary, each characterised by different property types, location characteristics and demographics, according to the latest report from valuation firm Herron Todd White.</p>
<p>Seven percent of the metropolitan area’s population was made up of people aged 30 to 34 years, which represented the highest percentage of persons within an age bracket.</p>
<p>“At this time, the average age for a first home buyer was 34 years,” the March report found.</p>
<p>“These buyers are heavily reliant on financial institutions and the bank of mum and dad.</p>
<p>“They seek out comfort before opulence within familiar surroundings, typically within range of the family home.</p>
<p>“Within the inner ring those brought up in Prospect (dwelling median price $685,000) look north of Regency Road to Blair Athol (dwelling median price $440,000) which represents a price differential of $245,000 while those brought up in Millswood (dwelling median price $880,000) look west of South Road to Glandore (dwelling median price $495,000) which represents a price differential of $385,000,” the firm continued.</p>
<p>Representing typical first home buyer properties within Blair Athol and Glandore are 65 Lionel Avenue, Blair Athol, a circa 2008 brick veneer dwelling disposed as three-bedroom, two-bathroom on an allotment of 376 square metres and 32 Grosvenor Street, Glandore, a circa 1930 semi-detached brick dwelling disposed as two-bedrooms and one-bathroom on an allotment of 314 square metres.</p>
<p>These properties achieved sale prices of $467,000 and $502,500 respectively.</p>
<p><img src="https://www.urban.com.au/images/2020/3/12/SA%201.png" alt=""></p>
<p>“We are also seeing first home buyers moving into the developing suburbs at the extremities of the metropolitan area,” the report said.</p>
<p>“This has become ever prevalent north of the city with Munno Para West recording the lowest median age of 29 years for the metropolitan area. Located 35 kilometres north of the Adelaide CBD, Munno Para West has been extensively developed over the past decade and provides purchasers with an affordable product of a more comfortable standard relative to the surrounding suburbs.”</p>
<p>An example of the typical dwelling within Munno Para West is 7 Blossom Road which achieved a sale price of $293,000. This property provides a circa 2014 brick veneer dwelling disposed as three-bedrooms and two-bathrooms.</p>
<p>The property has a double garage and a basic level of site improvements situated on an allotment of 370 square metres.</p>
<p><img src="https://www.urban.com.au/images/2020/3/12/SA%202.png" alt=""></p>
<p>“As we move through the buyer lifecycle, first home buyers progress to upgraders and investors. Both these buyer types are looking for vastly different asset types,” the report said.</p>
<p>Upgraders are seeking out properties with increased accommodation, proximity to services particularly schooling, upside in terms of ability to extend or renovate and all at a reasonable price.</p>
<p>All of these factors come together east of the CBD in the foothills suburbs of Stonyfell, Wattle Park and Beaumont. Each of these suburbs are well serviced and had development occur through the 1970s and 1980s, with a substantial number of large brick homes being constructed.</p>
<p>Many of these come to market in a neat and tidy original condition.</p>
<p>Comparative affordability to the surrounding suburbs comes through the gradients of the land as the suburbs move further into the foothills.</p>
<p>Representations of this property type come in the form of 15 Caithness Avenue, Beaumont and 3 Darrell Avenue, Wattle Park, each achieving a sale price of $880,000.</p>
<p>Both properties provide neat and tidy original 1970s brick dwellings each with four bedrooms, multiple living areas and sloping allotments of greater than 950 square metres.</p>
<p><img src="https://www.urban.com.au/images/2020/3/12/SA%203.png" alt=""></p>
<p>“Investors are seeking out properties throughout the greater metropolitan area with no real single area designated as a hot spot,” the report continued.</p>
<p>The outer ring is providing gross yields in excess of eight percent however provide limited price growth whilst the opposite is true for the inner and middle rings where gross yields soften to sub five percent however provide stronger prospects for price growth.</p>
<p>Investors generally avoid properties which require extensive capital works, tending to seek out tired properties which require a slap dash makeover to increase the achievable weekly rental.</p>
<p>The recent sale of 55 Marshall Terrace, Brooklyn Park for $555,000 is a fair representation of typical investor stock.</p>
<p>This is a neat and tidy original 1950s brick dwelling disposed as four bedrooms and one bathroom on a 635 square metre corner allotment.</p>
<p>Since settlement the property has been listed for rent asking $465 per week. If the asking rental is achieved, the property will generate a gross yield of 4.35 percent.</p>
<p><img src="https://www.urban.com.au/images/2020/3/12/SA%204.png" alt=""></p>
<p>The buyer lifecycle is moving into its final stage with downsizers being front and centre.</p>
<p>These buyers are cashed up and specific in what they require.</p>
<p>“We typically see these buyers looking to reduce land size for low maintenance however retain living space for the grandkids to sleep over,” the report said of the demographic.</p>
<p>“The kicker for these buyers is that they don’t want to move any further than a drop punt from the family home.”</p>
<p>“This can become problematic for those living in the inner ring as zoning constraints restrict high density development reducing the availability of stock for these purchasers.”</p>
<p>Filling the market gap in the inner southern suburbs is the Cedar Woods development of the former Glenside Hospital site.</p>
<p>With proximity to Burnside Village, Adelaide Parklands and The Arkaba shopping and health precinct, this development has been popular with downsizers moving from the surrounding low density heritage suburbs.</p>
<p>Further servicing this market are the Norwood Green and George and Queen developments in the inner eastern suburb of Norwood.</p>
<p><img src="https://www.urban.com.au/images/2020/3/12/SA%205.png" alt=""></p>
<p>Disruptors to the traditional buyer lifecycle are nonAustralian born purchasers entering the market.</p>
<p>“These buyers seek out comfortable surroundings gravitating towards areas which provide a cultural resemblance to their home country,” the report continued.</p>
<p>The CBD apartment market has been popular with Chinese buyers, particularly apartments within the buildings surrounding Chinatown. Similarly, the suburbs surrounding the northern section of Prospect Road have been popular with Middle Eastern, African and Indian purchasers.</p>
<p>“Many of these purchasers come from cultures where the whole family lives under one roof. We have seen an increase in construction of dwellings with self-contained living spaces and established dwellings being improved with detached living spaces,” the firm concluded.</p>
<p>“Suburban Adelaide provides market entrants at all stages of the buyer lifecycle the opportunity to enter the market. With a swathe of differing property types and market entry price point, there will be something available for everyone.”</p>
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Adelaide first home buyers reliant on the bank of mum and day: HTW

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<p>Of the many economic, social and political drivers that influence the South Australian property market, two major drivers continue to be the most prevalent - interest rate movements and political elections, according to a recent Herron Todd White (HTW) residential report. </p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span> The report suggests these two factors are the most visible to the market being heavily publicised in both print and digital media. </span></p>
<p><span>"Interest rate movements are front of mind for first home buyers whilst they directly correlate to a current mortgage holder’s hip pocket," the valuation firm said. </span></p>
<p><span> A rate reduction can allow a first home buyer to enter the market whilst an increase could be the forcing hand for an investor to start selling. </span></p>
<p><span>"Political elections can act as both a hand brake and accelerator," the valuation firm said </span></p>
<p><span> In a pre-election time, market activity can slow given the many unknowns surrounding opposing parties’ election promises. Post-election, the market can see where the goal posts lie </span>and move forward with certainty and stability.</p>
<p>Additionally 100,000 South Australians making up nearly six percent of the state’s population are employed in the public service. Pre-election public servants would be wary of becoming active in the property market with the uncertainty a changing government could have on their employment.</p>
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<p><span>"On a micro level, property markets by region are influenced by a number local drivers," the valuation firm said. </span></p>
<p><span>Broadly the inner and middle rings are influenced by barriers to borrowing and lifestyle choices; the outer ring is influenced by affordability and local employment whilst regional South Australia is influenced by local industry, particularly mining and agriculture, and population movements.</span></p>
<p><span>Of most significance in the current market is the record low cash rate of 0.5 percent.</span></p>
<p><span>"Broadly, we are seeing first home buyers, upgraders, empty nesters and investors all active in the market. The mouth-watering prospect of finding either a fixed or variable home loan rate of sub three percent could be too good to pass up. The activity of these buyers in the market is driving demand for a broad range of property types," the valuation firm said. </span></p>
<p><span>Throughout the metropolitan area, character dwellings remain the most popular with the broad market, the HTW report noted. </span></p>
<p><span>Depending on location, entry points for these dwellings range from $500,000 to $800,000. Characterised by turn of the century cottages and quaint laneways, the inner south-eastern suburb of Parkside is popular for those seeking properties with heritage features.</span></p>
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<p>Achieving a sale price of $683,000, <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-132255646" target="_blank">22 Robsart Street, Parkside </a>(pictured below) typifies this property type. This is a character single fronted cottage providing two bedrooms, one bathroom, off street parking all situated on an allotment of 426 square metres.</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/2020/5/25/parkside.jpg" alt=""></p>
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<p><span>Metropolitan Adelaide has seen an increase in higher density townhouse style development. Driving this market within the inner ring are cashed up empty nesters looking to downsize whilst investors and first home buyers are behind the wheel in the middle and outer rings. </span></p>
<p><span>Within the inner ring, entry price points can be well into the </span>$1 million range whilst within the middle and outer rings, $400,000 is typically the starting point.</p>
<p>Both the sales of <a href="https://www.realestate.com.au/sold/property-house-sa-linden+park-128602902" target="_blank">7A Linden Crescent, Linden Park</a> (pictured below) and 16A Egmont Avenue, Warradale which achieved sale prices of $1.25 million and $545,000 respectively represent these similar property types in differing locations, the report noted. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/linden%20park.jpg" alt=""></p>
<p>Appealing to downsizers, 7A Linden Crescent, Linden Park maximises accommodation on a small allotment and includes high quality fixtures and fittings and is located within walking distance of Burnside Village. Appealing to investors and first home buyers, 16A Egmont Avenue, Warradale provides a standard fit-out and accommodation expected of similar stock within the middle and outer rings.</p>
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<p><span>"The CBD apartment market is unique with each new tower providing product appealing to all buyer types," the valuation n firm said. </span></p>
<p><span>Abiding by local planning guidelines and having knowledge of the broad market appeal, CBD apartment developers have to create a multitude of offerings at varying price points. </span></p>
<p><span>The recently constructed seven-level apartment complex Five O Six on Hurtle at 36 Hurtle Square, </span>Adelaide provides an example of this product mix.</p>
<p>Throughout 2019, this building had transactions of multiple apartments with varying floor plans with sale prices ranging from $465,000 for a two-bedroom, one-bathroom, one car space, sixth floor apartment to $2.65 million for a three-bedroom, three-bathroom, four car space, seventh floor apartment.</p>
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<p><span>"There are a multitude of factors driving the South Australian property market on both a macro and micro level. These drivers aid in the decision making of both purchasers and vendors. </span></p>
<p><span>"Awareness of these drivers and the understanding of their effects on the market are critical to making the right decision when the time comes." </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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Adelaide property market continues to be driven by interest rate and political elections: HTW residential 

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<p>EXPERT OBSERVATION</p>
<p>The key question for Hotspotting in putting together our reports in the current climate is this: among the locations that have strong long-term fundamentals supporting price growth, which ones are best set-up to withstand the forces of the Covid-19 shutdown?</p>
<p>We’re searching for places which have the credentials to do well in the short-term, in dealing with the impacts of virus crisis, as well as having the features that drive long-term growth.</p>
<p>As I see it, the key factors are:</p>
<p>1. The strength of the market pre-coronavirus</p>
<p>2. The level of vacancies going into the virus shutdown period</p>
<p>3. The make-up of the local economy and in particular where most of the jobs exist</p>
<p>4. The key components of population growth in that location</p>
<p>5. The level of spending on infrastructure</p>
<p>All of those elements are important, but perhaps the most important one in the short-term is the make-up of the local economy and which sectors provide the bulk of the jobs.</p>
<p>Let me give you an example: Albury-Wodonga, which straddles the border between NSW and Victoria, has one of strongest economies anywhere in regional Australia, it offers wonderful affordability and high rental yields – and, in the past 12 months, there’s been some pretty good price growth there.</p>
<p>But the key factor about Albury-Wodonga right now is where most of its employment exists.</p>
<p>The four biggest sectors that provide the most jobs in this city are: 1 hospitals and medical services; 2 supermarkets and food stores; 3 the military; and 4 aged care.</p>
<p>I can’t imagine a better situation in terms of sectors likely to be hiring rather than firing in the current climate than those.</p>
<p>So, right now, amid all the issues afflicting Australia because of the coronavirus, Albury-Wodonga is performing well in its economy and its property market.</p>
<p>Overall, what we know to be true is that regional Australia is much less impacted by the virus shutdown, generally speaking, than the major cities.</p>
<p>Clearly, regional cities where the economy is largely dependent on tourism will suffer. But most of the regional centres that interest us are not in that situation.</p>
<p>Most of the regional centres that are grabbing our attention have economies based on sectors that are doing well in the current situation, or are likely to do well as we exit the lockdown phase and head back towards normal - sectors like agriculture, viticulture and resources &amp; energy.</p>
<p>Among the capital cities, Adelaide property market is particularly well placed to emerge from the shutdown with prospects for growth.</p>
<p>Coming into the virus crisis, Adelaide was one of the leading capital city markets in the nation with the best prospects for growth.</p>
<p>The Autumn 2020 edition of the Price Predictor Index ranked Adelaide No.1 among the state and territory capital cities for the number of suburbs with rising sales activity, out-ranking both Melbourne and Sydney.</p>
<p>Adelaide is one of the nation’s most consistent property markets. It always delivers steady demand, underpinned by a solid local economy and helped by the exceptional value for money offered by its housing market.</p>
<p>Adelaide also had a very low vacancy rate heading into the shutdown period: an overall vacancy rate below 1% which means the city’s rental market is well-placed to absorb the extra rental stock coming into the market because of the impact of the virus shutdown.</p>
<p>The latest figures, to the beginning of April, show that even with the recent influx of new properties seeking tenants, its vacancy rate is still just 1.2% (the lowest among the capitals, equal with Canberra).</p>
<p>The city’s economy is in a strong position to recover well from the shutdown period.</p>
<p>Adelaide is the high-tech innovation capital of Australia and South Australia leads the nation in the production of alternative energy. It has been transitioning strongly from old-style manufacturing to the production of modern technology products.</p>
<p>One of the likely outcomes from the virus crisis is a revival of manufacturing in Australia and Adelaide is well-placed to benefit from that.</p>
<p>Adelaide also has strong sectors in education and medical services.</p>
<p>It has a state government which has been spending significant amounts on infrastructure – and has announced plans to fast-track shovel-ready infrastructure projects to lead the economic recovery on the other side of the shutdown period.</p>
<p>Overall, I see Adelaide as being one of the best capital cities in the nation for real estate investment with good prospects for future growth, as well as above-average rental yields.</p>
<p><strong>TERRY RYDER</strong><em> is the founder of hotspotting.com.au</em><br><em> ryder@hotspotting.com.au</em><br><em>twitter.com/hotspotting</em></p>
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Adelaide property market to emerge strong from COVID-19 shutdown: HotSpotting's Terry Ryder

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<p>With the current restrictions surrounding property inspections and auctions still in place, the volume of commercial property sales have dropped in Adelaide, according to the latest report from valuation firm Herron Todd White.</p>
<p>The April Month-in-Review report found that throughout March and April of 2019 there were 15 sales of industrial properties in the Adelaide metropolitan area, compared to the ten sales recorded in this period for 2020.</p>
<p>“Whilst these are not exact figures of sales volumes, they provide a basic indicator that volumes of sales have dropped and we don’t expect investors, owner-occupiers or potential tenants rushing into the market at this point,” the firm said.</p>
<p>The success of South Australia in curbing the spread of COVID19 has created optimism that it could be one of the first areas to be reopened economically.</p>
<p>“All data aside, there is one major common feeling amongst property professionals and that is that the industrial supply chain to and from China will evolve as a result of the Coronavirus,” the report continued.</p>
<p>“Some view that the outbreak has accelerated a movement to become less reliant on China and create alternative industrial hubs around the world. There is already evidence of this occurring in Mexico (automobile industry) and Ethiopia (textile industry).”</p>
<p>“Whilst Australia may not return to its manufacturing roots of major automotive brands, post the Coronavirus we may see a revival of more meaningful levels of manufacturing or inclusion of manufacturing previously done off-shore.”</p>
<p>“At this point however, the local industrial market just desires a return to normality,” the report concluded.</p>
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How Adelaide’s commercial market has fared during the coronavirus pandemic: HTW

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<p>The Penny Place display suite encapsulates the essence of what buyers want in a brand new apartment - sophisticated, low maintenance and high quality. Recently, Urban was invited to take a tour of the display suite, to find out what the apartments would look like upon completion. We were impressed by the attention to detail, quality of fittings and intuitive open plan layout of the living areas.</p>

<p><em>Check out our video tour:</em></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/ieBZfmQWM_4" width="660"></iframe></p>

<h2><strong>PENNY PLACE AT A GLANCE </strong></h2>

<p>Developer: <a href="/developers/flagship-group"><u><strong>Flagship Property Group</strong></u></a></p>

<p>Architect: <a href="/architects/woods-bagot"><u><strong>Woods Bagot</strong></u></a></p>

<p>Location: 17 Penny Place, Adelaide SA 5000</p>

<p>Number of apartments: 152</p>

<p>Construction slated for completion: Jul 2021</p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/penny-place-17-penny-place-adelaide-0a5e6f4c2e4162e6bbde198a77d12c90.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="512" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-0a5e6f4c2e4162e6bbde198a77d12c90.jpg?itok=Y7tA6qGc" width="580"></a></figure><p>Designed by the award-winning architects at Woods Bagot, Penny Place is set to become a popular new apartment development in the heart of <a href="/new-apartments/adelaide-sa"><u><strong>Adelaide</strong></u></a>, with unrivalled views and intuitive floor plan layouts.</p>

<p>Penny Place kitchens have been designed with culinary enthusiasts in mind. Featuring a Bosch gas cooktop and oven, Fisher and Paykel dish drawers, LED strip lighting and stunning Caesarstone benchtop, residents will love preparing meals in their fully-equipped entertainer's kitchen. </p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/penny-place-17-penny-place-adelaide-6f91e3bcf3a1daf76d3a82354a7ce0c7.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="644" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-6f91e3bcf3a1daf76d3a82354a7ce0c7.jpg?itok=QhqbykFI" width="580"></a></figure><p>The apartment bathrooms are minimalist and spacious, including large porcelain floor tiles and a semi-frameless alcove shower with a luxurious rainfall showerhead.  </p>

<p>The tiles in the bathroom are carried through to the kitchen and living areas, except they are a larger format (300 x 300), offering the perfect balance of style, comfort and low maintenance. In the bedrooms you'll find a modern grey loop pile carpet which is soft underfoot, and perfect for extra warmth in winter months. </p>

<p>Integrated air conditioning is complemented by sunscreen and block out blinds in the living areas and bedrooms to provide residents with the perfect thermal insulation year-round. </p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/penny-place-17-penny-place-adelaide-9e47b344d5a5953e5caa523511b3d1a1_1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="417" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-9e47b344d5a5953e5caa523511b3d1a1_1.jpg?itok=RQoGSqwI" width="580"></a></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/penny-place-17-penny-place-adelaide-eb4d112042fb62dc16822d3d7796db08_2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="259" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-eb4d112042fb62dc16822d3d7796db08_2.jpg?itok=rPaeWA3v" width="580"></a></figure><p>Residents will have the option of choosing an apartment with stunning views of the Adelaide Hills, the ocean or city skyline, which can be enjoyed through the expansive floor to ceiling windows, or on your private balcony. </p>

<p>If you'd love to call Penny Place home by July 2021, then <a href="/buildings/penny-place-17-penny-place-adelaide"><u><strong>reach out to a sales agent</strong></u></a> via Urban today, but hurry, as only a select number of apartments are remaining. </p>
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Olivia Round

Urban’s tour of the Penny Place display suite

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<p>During the middle part of 2019, the historically slow winter period was compounded by the federal election and lingering effects of the banking royal commission, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes the metropolitan market slowed with both state government and CoreLogic supplied data indicating a declining market.</p>
<p>Historically the South Australian market has lagged behind Sydney and Melbourne which both began to show signs of recovery in mid 2019.</p>
<p>On the back of this data it was hopefully only a matter of time before the tides turned. And turned they have.</p>
<p>The most recent CoreLogic Daily Home Value Index indicates that the metropolitan market has recovered to a point of 117.06 from a low of 114.99 in September 2019.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/3/9/corelogic%20adelaide.png" target="_blank">Click here</a> to enlarge: </p>
<p> <img src="https://www.urban.com.au/images/2020/3/9/corelogic%20adelaide.png" alt=""></p>
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<p><span>This market fluctuation has been supported by agents who have reported that the middle part of 2019 saw a reduction in buyer activity and also a limited amount of available stock, only for market conditions to flip come spring.</span></p>
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<p><span>"So, with this being said and no known market disruptors on the horizon, there is no reason to indicate that this strengthening level of market activity won’t continue into 2020," the valuation firm said. </span></p>
<p><span>Market segments to watch throughout the year will be the middle ring $400,000 to $600,000, entry level character dwellings and the prestige market of $3 million plus.</span></p>
<p><span>The middle ring provides affordability for first home buyers and also a price point for cashed up investors who do not have to rely solely on a lending institution. </span></p>
<p><span>The report suggests fitting this profile are the suburbs of Felixstow, Seaton and Pasadena.</span></p>
<p><span>Felixstow is located seven kilometres north-east of the Adelaide CBD. This suburb was established in the 1960s with further development occurring in the late 1990s. </span></p>
<p><span>The suburb is currently going through a stage of urban renewal with a significant amount of older stock being demolished. </span></p>
<p><span>Felixstow has proximity to Linear Park, is serviced by Marden Shopping Centre and has direct access to the CBD via Payneham Road and the O-Bhan bus route.</span></p>
<p><span>"Zoning changes in 2017 allowing for higher density development saw the suburb’s median house </span>price spike to $685,000. This has since cooled off to a median dwelling price of $598,888 as at September 2019," the valuation firm said. </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/2020/3/9/felixstow.jpg" alt=""></p>
<p>The report notes representing Felixstow’s past and present are the sales of 32 Wilson Avenue (pictured above), an original 1960s brick dwelling on 1000 square metres and <a href="https://www.realestate.com.au/sold/property-house-sa-felixstow-132448430" target="_blank">11 Pearce Avenue</a> (pictured below), a circa 1993 three- bedroom, two-bathroom brick veneer dwelling on 380 square metres, which achieved sale prices of $574,500 and $571,000 respectively.</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/2020/3/23/felixstow.jpg" alt=""></p>
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<p><span>Seaton is located 11 kilometres north-west of the Adelaide CBD. This suburb was established in the 1950s and has since gone through a number of stages of urban renewal with a mixture of newer 1980s to 2000s dwellings. </span></p>
<p><span>The suburb has proximity to Grange Beach, is serviced by Westfield West Lakes and has The Royal Adelaide Golf </span>Club within its confines. This suburb has seen its median sale price steadily rise since mid-2015 and has a current median dwelling price of $495,000.</p>
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<p><span>"Older stock in Seaton is considered most popular, providing purchasers with the greatest potential to value add," the valuation firm stated.</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/2020/3/9/seaton%201.jpg" alt=""></span></p>
<p>Recent sales in this category are<a href="https://www.realestate.com.au/sold/property-house-sa-seaton-132386386" target="_blank"> 39 Seaton Terrace </a>(pictured above) and <a href="https://www.realestate.com.au/sold/property-house-sa-seaton-132336634" target="_blank">7 Stevens Street</a> (pictured below), both comprising partly updated 1960s brick dwellings on large allotments and achieving sale prices of $508,000 and $460,000 respectively.</p>
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<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/2020/3/9/seaton%202.jpg" alt=""></span></p>
<p><span>Pasadena is located nine kilometres south of the Adelaide CBD. This suburb was established in the 1970s and is characterised by large brick homes on 700 square metre allotments.</span></p>
<p><span> A large portion of Pasadena extends into the Adelaide foothills, which provides many properties with local views and has restricted higher density development. </span></p>
<p>The epitome of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-house-sa-pasadena-132126698" target="_blank">85 Quinton Court</a> (pictured below), which achieved a sale price of $585,000 in December. This is a two level brick dwelling disposed as three bedrooms and two bathrooms with local views and situated on an 820 square metre allotment.</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/2020/3/9/pasadena.jpg" alt=""></p>
<p>Pasadena has a direct route to the CBD via Goodwood Road and is located only a short distance from the Southern Expressway, which provides access to the Fleurieu Peninsula. Pasadena has a median dwelling price of $566,250, some 15% below the median dwelling price of the greater Mitcham Council.</p>
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<p><span>"With a buyer pool as deep as a baritone, entry level character dwellings continue to be the most popular property type within the inner and middle rings," the valuation firm continued. </span></p>
<p><span> Irrelevant of condition, there is upside in these properties for those looking to renovate, whilst the comfortable and renovated properties provide options for first home buyers and downsizers. </span></p>
<p><span>T</span>he entry price point varies depending on location. North and west of the CBD sees an entry price point of $500,000 to $700,000, whilst $600,000 to $800,000 represents the entry price point south and east of the CBD. Prospect (north), Mile End (west), Goodwood (south) and Kensington (east) of the CBD provide the best chances of picking up an entry level character dwelling.</p>
<p><span>"The prestige market of $3-million-plus offers purchasers a significant slice of house and land compared to a number of the other metropolitan markets," the valuation firm said. </span></p>
<p><span>Buyer activity has come locally as well as from interstate and overseas. </span></p>
<p><span>Within the inner ring, 1900s character mansions on larger land holdings are considered most popular whilst west of the city, properties require a high standard of finish </span>and ocean views to push the value past $3 million.</p>
<p>A number of suburbs achieved significant top end sales in the latter stages of 2019.</p>
<p>The inner south- eastern suburb of Fullarton had its first sale above $2.5 million when <a href="https://www.realestate.com.au/sold/property-house-sa-fullarton-132114566" target="_blank">137 Wattle Street </a>(pictured below) settled for $3 million in November.</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/2020/3/9/fullarton.jpg" alt=""></p>
<p>West of the city, Glenelg North achieved only its highest transaction since 2012 with 10 Patawolanga Frontage achieving $4.04 million in December.</p>
<p>East of the city, Kensington Park achieved only its second sale above $4 million with 56 Yeronga Avenue settling at $4.2 million in December.</p>
<p>"Ironically, Kensington Park’s only previous sale above $4 million was 56 Yeronga Avenue which achieved $4.25 million in 2013," the valuation firm said. </p>
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<p><span>For those looking for capital growth, the CBD apartment market and outer ring should be treated with caution, the report notes. </span></p>
<p><span>Both these market segments have heightened levels of available stock, which creates a dynamic that isn’t conducive to an increasing market.</span></p>
<p><span>"We don’t claim to be able to tell the future but with data indicating a strengthening finish to </span>2019 and positive feedback from agents, the metropolitan market is in a position to enter the new decade on a positive note.</p>
<p>"Whether this trend continues can only be answered by the clairvoyants among us." </p>
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Adelaide metropolitan property market expected to strengthen in 2020: HTW residential 

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<p>Transactions of retail properties in Adelaide hit lows throughout last year as investors became pessimistic about the sector, with sales volumes falling 22% on 2018 levels, according to the latest report from valuation from Herron Todd White.</p>
<p>“While the sector may be struggling overall; there are some shining lights in what looks a difficult transition period for retail property. In essence, we are witnessing the retail sector attempting to adapt to the changing consumer patterns arising from the growth of e-commerce and the online retail marketplace,” the firm said.</p>
<p>The March report adds that adaption remains the key to success - The centres and retailers that can welcome and adapt to change will excel, or at least keep their heads above water, while those who can’t will continue to struggle.</p>
<p>Online purchases currently account for 17% of non-food retail sales in Australia and 9% of total retail sales – and this number is only going to grow.</p>
<p>Property owners will need to embrace the online domain, shifting some of their sales and services online whilst simultaneously lowering overheads at their brick and mortar stores.</p>
<p>"The trouble highlighted in retailers is for nonfood goods – apparel, footwear and general merchandise – where it is easier, more convenient and often cheaper to purchase online. Food and grocery sales only account for 3% of online purchases, meaning that supermarkets are here to stay as anchor tenants for a while yet," the firm said.</p>
<p>Retail hubs are likely to take advantage of the recent growth in the food sector, with more cafes and restaurants popping up in hubs to draw tenants in, and then hopefully entice them into spending money in the specialty stores.</p>
<p>Amazon Hub locations are beginning to pop up around Australia; essentially a click and collect service where consumers can pick up parcels ordered online at a self-serve Amazon locker, as opposed to having it delivered to their home.</p>
<p>Delivery lockers are enabling larger centres to transform and become places where people consume services and experiences, as opposed to places where people simply purchase goods.</p>
<p>There’s still room for rental growth and capital gains in the Adelaide retail property sector, however at lower levels than will be evident in the industrial and office sectors. Interest rates are forecasted to drop, potentially twice throughout the year, and as a result of this we will see some more capital gains for property, yet with further yield compression across the board.</p>
<p>The retailers that continue to outperform others are the food retailers – cafes, restaurants and takeaway food services. As mentioned, we continue to see strong performance for retailers that can’t be replaced by the online domain, however retail hubs and complexes need to be careful to avoid excessive inter-competition between food retailers.</p>
<p>"Furthermore, the recent exit of Kaufland from the Australian market has further enhanced the outlook for Australia’s supermarket giants. The supermarket oligopoly of Woolworths, Coles and Foodland can now invest in assets with more assurance that the newcomer isn’t going to take a portion of their market share," the report added. </p>
<p>The firm concluded that, in this day and age, constant refurbishment is required to keep shops and complexes updated, and to keep foot traffic coming through the door.</p>
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