<p><a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.</p>

<p>A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.</p>

<p>Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360965]</p>

<p>“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.</p>

<p>From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.</p>

<p>The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360981]</p>

<p>Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.</p>

<p>A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.</p>

<p>Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360966]</p>

<p>Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.</p>

<p>“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.</p>

<p>Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360969]</p>

<p>Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.</p>

<p data-end="8307" data-start="8063">The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.</p>

<p data-end="8543" data-start="8312">“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”</p>

<p data-end="8915" data-start="8548">The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.</p>

<p>The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.</p>

<p>[smartcode_project_cta:default project_id=149670]</p>


Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

<p>A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.</p>

<p>The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.</p>

<p>Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.</p>

<p>The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.</p>

<p>The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" /></p>

<p>Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.</p>

<p>Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.</p>

<p>The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."</p>

<p>The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" /></p>

<p>Campbelltown has been starved of new residential developments in the last decade.</p>

<p>The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.</p>


First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

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<p>A 60-apartment building nine storeys tall would be a rarity almost anywhere along this stretch of Moreton Bay, but that's exactly what's been lodged for a modest Deception Bay street better known for its single-storey weatherboard homes.</p>

<p><a href="https://www.apartments.com.au/developers/sherlock-construction-homes">Sherlock Construction Homes</a> is seeking to push Deception Bay’s emerging medium-density housing profile higher, lodging plans for a nine-storey apartment building near the suburb’s shopping centre and foreshore.</p>

<p>Dubbed Grosvenor Apartments, the proposal at 14-20 Grosvenor Terrace would replace two detached homes with a new building designed by&nbsp;<a href="https://www.apartments.com.au/architects/mode">Mode Design</a>&nbsp;which would&nbsp;reach nearly 30 metres, well above the site’s mapped 21-metre building height.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="86c21a25-5a97-4ca7-a361-80757137ea5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%20front.png?VersionId=aXIujfvEhH33sLHOEjHFv9Ii6qxSvAF4" /></p>

<p>The apartment mix is weighted toward larger homes, with 14 three-bedroom apartments, 31 two-bedroom apartments and 15 one-bedroom apartments. Six apartment types are spread across the floors, ranging from 66 sqm one-bedroom units through to three-bedroom apartments of 116 sqm, most with private balconies or terraces.</p>

<p>Levels one through seven follow a consistent layout of six to eight apartments per floor arranged around a central lift and stair core, with the top floor, level eight, trading one apartment for a landscaped community breakout space rather than repeating the standard layout below.</p>

<p>Ground floor is dedicated to arrival and services, with a lobby, mailroom and manager's office, alongside 91 car spaces.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="b098bde0-5fe1-4e6c-9601-e5446612e5fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20podium.png?VersionId=A0hfENMNxSxkfh9Jl6D4WJ9XIraeOukA" /></p>

<p>Mode Design's brief describes a "serene coastal-inspired design blending soft curves, natural textures and light-filled spaces to reflect the relaxed Deception Bay lifestyle."&nbsp;</p>

<p>The material palette leans on white and grey render, timber-look aluminium screening and stacked-brick-look finishes, with hanging greenery and vine planting proposed across balcony edges and ground-level walls.&nbsp;</p>

<p>Balconies feature asymmetrical geometries intended to vary the building's rhythm rather than repeat a single module up the tower, while lush planting is concentrated over the entry and level one balconies to soften the building's base.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="c05c5693-3e00-42d0-b075-55c36094f4db" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%201.png?VersionId=cMKJgBsBaaVCd2dA5O22SOT38OT_.BPA" /></p>

<p>The design evolved following an April 2025 prelodgement meeting with council. At that stage, the project was conceived as a seven-storey building containing 45 apartments. The subsequently lodged scheme increases the development to nine storeys and 60 apartments while introducing one-bedroom residences to the mix.</p>

<p>Zone Planning argues the additional scale reflects the site's position within an area earmarked for increased residential intensity. The planning report points to the North Lakes-Redcliffe-Moreton Bay Rail corridor strategy, which identifies Deception Bay as a district-level activity centre and supports greater housing choice within urban neighbourhoods.</p>

<p>Market Square Deception Bay, Deception Bay Sports Centre, Deception Bay State School, public transport, community facilities and the Moreton Bay foreshore are all identified within approximately one kilometre of the site, while the property falls within a 400-metre walking catchment of Market Square.</p>

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


First look at MAYD's North Kirra mixed-use precinct

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<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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>
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<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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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>
<p><img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/e3e601a7-760d-43b5-bc5c-fac13d084630.png" data-imagetype="External"></p>
<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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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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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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