<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.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

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;

[smartcode_project:default project_id=150489 project_image_fid=371113]

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;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“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;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“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;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

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.

The appeal is relatively straightforward: flexibility.

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.

For apartment residents in particular, the system has become increasingly valuable.

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.

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.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

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.

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.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

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.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

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.

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.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

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.

Now, however, the convenience factor is driving mainstream usage.

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.

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.

The Parcel Locker model is also beginning to influence property development itself.

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.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

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.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

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.

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.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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.

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;

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;

“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;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

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;

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;

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.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

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;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

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.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“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;

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.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

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;

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;

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”.

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;

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

<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.

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.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“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.”

<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" />

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.

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.

“We are DA approved now which is very exciting,” Sammut said.

“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.”

<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" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“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.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“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.”

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.

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.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

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.

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.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“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.”

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.

“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.”

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.

“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.”

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.

“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.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“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.

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.

&nbsp;

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

Canberra

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>Despite a record investor boom since 2013 vacancy rates are now falling as investment loans are squeezed harder, with the national rental vacancy rate down from 2.3 per cent to 2.1 per cent over the year to September 2018 according to SQM's latest release. </div>
<div> </div>
<div>In absolute terms, that represents a decrease from 72,955 to 70,172 rentals. </div>
<div> </div>
<div>
Every month I'm bombarded with theoretical constructs about how Canberra's land tax experiment won't impact the rental market...and every month the rental vacancy rate falls further, now down from about 2½ per cent to just 0.6 per cent since taxes were initially all but doubled. 
</div>
<div>
 I guess the idea was that people in the ACT earn high incomes so homeowners can afford to pay exorbitant taxes, but unfortunately ludicrously high taxes don't discriminate and it's turning out to be a disaster (especially for asset-rich but income-poor homeowners, and now for renters too).  
</div>
<div>The ABS rental CPI index has more lag than my nanna's boiler, but more timely industry asking rents indices are now pointing to double-digit rental price increases for the nation's capital. </div>
<div> </div>
<div>Indeed, SQM Research's asking rents index shows the median asking rent for houses increasing by 31½ per cent over the past three years.</div>
<div> </div>
<div>
Plotted below are the capital city vacancy rates reported by SQM Research on a 6mMA basis so that you can see the trends. 
</div>
<div>Click here <a href="https://2.bp.blogspot.com/-3RxbEjERnck/W8X2yGCInEI/AAAAAAAAsZY/f4GIMl4KzdAZAGf9ItxZ555CwkI0nYt8wCLcBGAs/s1600/SQM1.jpg" target="_blank">to enlarge.</a>
</div>
<div> </div>
<div class="separator"><img src="https://2.bp.blogspot.com/-3RxbEjERnck/W8X2yGCInEI/AAAAAAAAsZY/f4GIMl4KzdAZAGf9ItxZ555CwkI0nYt8wCLcBGAs/s640/SQM1.jpg" width="640" height="358"></div>
<div class="separator"> </div>
<div class="separator">
Ouch.
</div>
<div>
Hobart rentals evaporate Hobart has increased in popularity over the past few years, but with banks either dithering or knocking back investor loans the rental stock has now totally evaporated.
</div>
<div> </div>
<div>With median asking rents in in the Tasmania capital city already up by 29 per cent over the past 3 years new rental supply should be abounding.</div>
<div> </div>
<div>But instead it has completely crashed to sit close to the lowest level on record for any Australian capital city at just 0.4 per cent. </div>
<div> Asking rents for houses in Hobart were up by more than 6½ per cent over the past quarter alone. </div>
<div>
 With only 108 (!) rental vacancies now remaining - please see the definition of a rental vacancy before emailing me - Hobart rents are now destined to increase by more than 50 per cent through this cycle. Meanwhile kamikaze commentators continue to call for tighter lending criteria for investors and scrapping negative gearing. Before you pile in to Hobart real estate too late in the cycle remember that small markets can be more volatile and building approvals in Hobart are just coming off <a id="LPlnk756867" class="OWAAutoLink" href="http://petewargent.blogspot.com/2018/08/hobart-building-boom" target="_blank">99-month highs</a>.  I suppose a supply shock is one way to get consumer price inflation somewhere closer to the target range, with some forecasters already anticipating another dismal 1¾ per cent CPI print next time around. 
</div>
<div> </div>
<div>Adelaide is heading in a similar direction, with the vacancy rate now down to just 1.1 per cent. </div>
<div> </div>
<div>
Brisbane has considerably more breathing space following its preceding record apartment construction boom, with the vacancy rate down far more comfortably from 3½ per cent to 2.9 per cent over the past year.  As an interesting aside, check out how seasonal Melbourne's rental market these days as population flows become more fluid, partly due to more international students.
</div>
<div> </div>
<div>Click here <a href="https://3.bp.blogspot.com/-0PuL9sCcSUw/W8YW5Itzm4I/AAAAAAAAsZw/NyweL3IoJ1sg6G74P5mzonQMXxuV8F6FwCLcBGAs/s1600/MEL.jpg" target="_blank">to enlarge.</a> 
<div class="separator"><img src="https://3.bp.blogspot.com/-0PuL9sCcSUw/W8YW5Itzm4I/AAAAAAAAsZw/NyweL3IoJ1sg6G74P5mzonQMXxuV8F6FwCLcBGAs/s640/MEL.jpg" width="640" height="380"></div>
 
</div>
<div>
Christmas could be interesting this year. 
</div>
<div>Sydney elevated</div>
<div> </div>
<div>The only major city that's seen a meaningful increase in rental vacancies over the past year is Sydney at 19,469 or 2.8 per cent (largely due to investors that bought off the plan a couple of years ago). </div>
<div> </div>
<div>Unfortunately for these investors that bought new at inflated prices they'll probably be in negative equity as they settle. </div>
<div> </div>
<div>While most of the city doesn't have especially high vacancy rates - for example, the Canterbury-Bankstown region sits only at 2.2 per cent - some parts are experiencing a surge of completions, and thus very high rates of vacancy, including most notably the Hills District.</div>
<div> </div>
<div>Click here <a href="https://4.bp.blogspot.com/-02AnfdeLLGU/W8X2yCqKNjI/AAAAAAAAsZU/DdtwNEpHYrE30_SiNlu0DAQzbAHF-bGdwCLcBGAs/s1600/SQM2.jpg" target="_blank">to enlarge.</a>
</div>
 
<div class="separator"><img src="https://4.bp.blogspot.com/-02AnfdeLLGU/W8X2yCqKNjI/AAAAAAAAsZU/DdtwNEpHYrE30_SiNlu0DAQzbAHF-bGdwCLcBGAs/s640/SQM2.jpg" width="640" height="372"></div>
 
<div>19,469 sounds like a lot for Sydney vacancies, and it sort of is - arguably about 16,000 would be a rental market in balance - but let's face it, at the present rate of population growth this could turn around into a rental shortage on a dime if investors pull up stumps. The summer months tend to be much busier in Sydney and Melbourne these days, so let's see what happens over the festive period. Finally, the coal price bust and subsequent super-boom has seen the vacancy rate in the Hunter Valley tumble from sky-high levels in 2015 to just 1.3 per cent. There could be an interesting twist in the tail for the coal-mining towns that took such a hit in the aftermath of the resources construction boom. The coking coal price has burned up into the stratosphere at $215/tonne (or about A$300/tonne) which is huge for Queensland. </div>
<div> </div>
<div class="separator">PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
</body></html>

pwargent-M4siyDbqQY

Canberra and Hobart are turning into rental disaster zones

<html><body>
EXPERT OBSERVER
Canberra is set for its strongest growth market in years, following a recent surge in demand in the housing markets across the national capital.
Our latest analysis of sales activity and prices shows that the number of suburbs with rising demand is the highest in the five years we have been conducting our quarterly surveys.
Our two previous reports both found 18 suburbs with rising demand, but this new survey has identified 32 growth suburbs. The previous best was the 26 growth suburbs in the Autumn 2019 survey.
Our research also reveals good price performance, with two-thirds of Canberra suburbs delivering growth in their median house prices in the past 12months. Of the 41 Canberra suburbs with growing house prices, 24 have increased more than 5% in annual terms.
This reinforces a point I regularly make: that the generalised price data published in mainstream media (one figure to describe an entire city market) often fails to tell the full story. In the case of Canberra, most suburbs are achieving price growth well above the generalised figures quoted by research firms (mostly 3-4% for Canberra in the past year).
The overall outcome is a departure from the usual status of the national capital’s real estate market, which is one of steady, consistent performance. The surge in the number of locations where sales activity is rising suggests 2020 will be a year of above-average price performance.
Canberra’s property market continues to be underpinned by a strong ACT economy. The ACT ranked fourth among the states and territories in the State of the States report published by CommSec in January 2020, ahead of Queensland, South Australia and Western Australia – and was ranked No.1 on housing finance and employment, and No.2 on equipment investment.
The ACT consistently has the highest average incomes and the lowest unemployment rate in the nation.
Three Canberra precincts stand out for the number of suburbs with rising sales activity: Belconnen (eight growth suburbs), Gungahlin (six) and Tuggeranong (seven). The Inner North precinct also features prominently, with four suburbs with upwardly mobile markets.
With Belconnen, Gungahlin and the Inner North featuring strongly, it reinforces (yet again) that the strongest part of the Canberra market is in the north of the city.
The Belconnen District is a real standout, with eight growth suburbs and 10 others with steady sales performance. Rising markets include Dunlop, Florey, Giralang, Higgins, Holt and Melba.
It also has several of the suburbs where median house prices have grown more than 5% in the past 12 months, including Melba (11%), Macquarie (8%), Macgregor (7%) and Latham (8%).
Leading Gungahlin District suburbs for price growth include Crace (up 10%), while the suburb of Gungahlin is one of the leaders among Canberra’s apartment markets (median unit price up 14%). In the Inner North precinct, the suburb of O’Connor was Canberra’s No.1 suburb for annual price growth (median house price up 20% to $1.26 million).
While many of the top performing precincts are in the northern part of Canberra, the Tuggeranong District in the far south is an emerging market worth tracking.
With seven growth suburbs and seven others with consistent sales activity, it’s close behind the Belconnen District in terms of buyer demand. The rising markets include Banks, Bonython, Conder, Fadden, Kambah, Monash and Theodore.
Numerous suburbs in the Tuggeranong District have had solid price growth in the past 12 months, including Calwell (5%), Chishom (6%), Conder (8%), Fadden (7%), Kambah (7%) and Theodore (7%).
TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
</body></html>

terryryder-YECXbqmri2

Canberra real estate set for its strongest growth in years: Hotspotting's Terry Ryder

<html><body>
Canberra has recently joined the biggest cities with strong price growth, if you can believe the numbers.
As is the case with all our capital cities, the level of growth in Canberra house prices depends on which research source you favour.
The latest figure from the Australian Bureau of Statistics records annual growth of 6.6 percent, while the Real Estate Institute of Australia says 5.1 percent. But Domain, SQM Research and CoreLogic, using their various mysterious methodologies, all have Canberra house prices (on average) rising by more than 10 percent in the past 12 months.
The uplift in price growth in the national capital is quite recent. Unlike Sydney three hours up the highway, Canberra has not been pumping for the past 3-4 years. It went through a period of malaise when the Federal Government downsized the public service and the market was also impacted by an oversupply of apartments.
Canberra has got those negative symptoms out of its system and appears to be growing again. Certainly that aligns with my analysis of sales activity, which have been elevated in the past two years.
But what really stands out for me is the uplift in activity and prices in New South Wales locations close to Canberra.
The proximity of Queanbeyan (now part of the newly-formed Queanbeyan-Palerang Regional Council area) to the nation’s capital is certainly helping local property markets.
The region has strong population growth, unemployment is low and new housing estates are under construction – helped by Queanbeyan’s affordability relative to Canberra, with median prices for both houses and units generally below those in the national capital.
Canberra prices are kept artificially high by the tight control of land releases and general dwelling supply by the ACT Government. But Queanbeyan, while closer to central Canberra than many ACT suburbs, is in NSW and has cheaper prices. Many of its suburbs have median house prices in the $400,000s while Queanbeyan, Queanbeyan East and Crestwood all have median unit prices in the $200,000s – something that’s difficult to find within the ACT.
Property sales activity in Queanbeyan increased in 2015 and 2016, leading it to become a standout region for growth, as identified in the Autumn edition of the Price Predictor Index published by Hotspotting.
Good rental yields are another attraction, with several suburbs having median yields around 5 percent for houses and 6 percent for units.
Goulburn, about 80km from Canberra, also benefits from being close to the national capital and having much cheaper house prices. It’s a growth market, partly because of local events, partly its proximity to Canberra and partly a Ripple Effect from Sydney’s growth market.
Sales activity has been rising steadily in the past 18 months and this has generated solid growth in Goulburn’s median house price (up 7% to about $350,000 in the past 12 months).
Goulburn (the LGA’s population is around 30,000) has long been a solid regional centre servicing the Southern Tablelands area of NSW near the ACT border.
Long-term, it will benefit from its location in the growth corridor linking Canberra with Sydney – with growing numbers living in affordable Goulburn and working in Canberra.
It would also be a key beneficiary of plans for high-speed rail links between Canberra and Sydney, if that grand plan ever happens.
Goulburn has more diversity to its economy than your standard regional centre, with a big wind farm industry, the presence of the NSW Police College and also the Goulburn Correctional Centre.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
</body></html>

Canberra's strong price growth extends to neighbouring cities: Hotspotting's Terry Ryder

<html><body>
EXPERT OBSERVER
It’s timely that I will be speaking at the Canberra Property Investment Summit on Saturday.
The Canberra market continues to get stronger. The trend in the past 12 months has been steady improvement in the national capital, quarter by quarter - and there have been further advances recently.
And while the Belconnen District remains the market leader in Canberra, challenges are emerging from other sectors.
Hotspotting’s quarterly surveys of sales activity shows a pattern of steadily rising demand in the Canberra market.
Following our Winter survey three months ago, we commented that the Canberra market was “the busiest it’s been since the Price Predictor Index surveys started three years ago”. In this latest (Spring) survey, it’s got even busier.
This reflects other statistics depicting a strong Canberra market. Vacancies remain below 1% (only Hobart has lower vacancies among the capital cities), rents are rising strongly (more so than in any other capital city) and there is evidence of solid price growth in some sectors in the market.
This is particularly so at the top end of the market. Canberra currently has seven suburbs with median house prices above $1 million and all but one has recorded significant growth in their median prices in the past 12 months.
The median price for O’Connor has risen 20% to $1.17 million, Red Hill is up 15% to $1.45 million, Garran has jumped 17% to reach $1.05 million, Deakin is up 11% to $1.32 million and Griffith has grown 10% to $1.52 million.
In addition the suburb of Lyneham, with a median price in the $900,000s, has increased 14%.
Only Yarralumla among the millionaire suburbs has failed to record major median price growth in the past year.
This strong Canberra performance has been built on a local economy that is always solid, underpinned by high average incomes and low unemployment levels.
The ACT consistently ranks in CommSec’s State of the States report as the nation’s third strongest economy behind New South Wales and Victoria.
Hotspotting’s latest quarterly survey indicates that the Belconnen District is still the market leader. It has six suburbs with rising sales activity and others with steady sales performance.
Growth markets in the Belconnen District include Bruce, Belconnen, Flynn, Hawker, Higgins and Macgregor.
The Belconnen District has become an increasingly active market in the past three years.
Throughout both 2013 and 2014, dwelling sales were between 420 and 460 in most quarters, but in 2017 and 2018 all quarters have recorded more than 500 sales, including several with over 600 sales.
But there are now growth clusters right across the Canberra metropolitan area.
The Tuggeranong District has emerged as a challenger to Belconnen’s status as market leader. There are now five suburbs in Tuggeranong with growth trajectories, including Banks, Calwell, Condor, Gordon and Kambah.
The Districts of Gungahlin and Weston Creek both have multiple suburbs with upwardly-mobile sales activity.
Overall, the data adds to the perception that Canberra is a market on the rise, with good prospects for solid price growth in the next 1-2 years.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
</body></html>

Why Canberra property stands out: Hotspotting's Terry Ryder

<html><body>
EXPERT OBSERVER
Canberra continues to show the solidity for which it is renowned, with most suburbs having recorded growth in their median house prices in the past year. While many city markets stumbled or stalled in the first half of 2019, Canberra retained its “steady as she goes” course and continues to deliver growth.
While the generalised data (one figure to describe an entire city) suggests little or no growth in Canberra prices, the more in-depth analysis conducted by Hotspotting tells a different story. Almost two-thirds of Canberra suburbs have recorded growth in their median house prices in the past 12 months.
The national capital is undoubtedly one of the steadiest markets in the nation – underpinned by the strongest real estate economy in capital city Australia. 
The ACT is consistently ranked No.3 or No.4 by CommSec in its quarterly State of the States report; as an economy it usually ranks ahead of all states/territories except Victoria and NSW. It ranks among the top two or three in CommSec’s latest report on housing finance, business investment, unemployment and retail trade.
The latest ABS data shows the ACT ranks second in the nation on population growth, close behind Victoria. Its unemployment rate is consistently the lowest in the nation. 
Its vacancy rate of 1.2% compares with the national average of 2.2%. Rents show consistent uplift and there is evidence of solid price growth in most parts of the Canberra market.
Long-term growth figures published by CoreLogic show Canberra house prices have increased 231% in the past 20 years, compared with 202% in Sydney and the national average of 197%.
Canberra is the Australian real estate embodiment of the “slow and steady wins the race” scenario.
Since the start of 2015, demand has been trending upwards in Canberra. It hasn’t been a dramatic rise and there have been a few minor ups and downs - but over four years the graph depicting demand in the market has trended north.
And the price data supports that. Our suburb-by-suburb analysis shows that 64% of suburbs have recorded increases in their median house prices in the past year: 19 suburbs have grown their median house prices by more than 5% and another 19 have grown by less than 5%. Only seven suburbs have decreased by more than 5%.
Price growth leaders include O’Connor (up 20% to $1,260,000), Calwell (up 14% to $630,000) and Duffy (14% to $730,000). Theodore ($580,000), Holder ($680,000), Latham ($595,000) and upmarket Yarralumla ($1,560,000) all have recorded annual growth of 12-13%.
In terms of sales activity, strong markets are found right across the ACT. As we often find, the strongest demand is in the northern suburbs: both the Belconnen and Gungahlin districts have multiple growth suburbs.
The Tuggeranong district is emerging steadily as a precinct with good growth markets. Suburbs with growing sales momentum include Calwell, Chisholm, Monash and Theodore – all of which have recorded median price growth above 5% in the past year.
The Inner North, Inner South and Woden Valley districts all have growth markets.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
</body></html>

Canberra undoubtedly one of the steadiest property markets in Australia: Hotspotting's Terry Ryder

<html><body>
Given the lower entry-level price points, buyers can secure a two-bedroom residence in Canberra at even cheaper prices than one-bedroom apartments in Sydney or Melbourne.

If you're a first home buyer or a smart investor, here are four residences you can secure a one-bedroom apartment for less than $430,000 in Australia's capital.

1. <a href="/buildings/nightfall-2-grazier-lane-belconnen">Nightfall, Belconnen</a>

One-bedroom apartments from $363,900 
Address: Cameron Avenue, Belconnen ACT 2617

<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/nightfall_render1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="400" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/nightfall_render1.jpg?itok=hv7QbvQz" width="580"></a> <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/nightfall_render2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="336" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/nightfall_render2.jpg?itok=1aIbUp_D" width="580"></a>

Nightfall is no exception to Canberra’s affordable entry prices for apartments, offering one-bedroom, one-bathroom apartments from $363,900. The luxury apartments offer views of the Lake Ginninderra waterfront and is a change of scenery from Canberra’s busy CBD.

Designed by Fender Katsalidis, Nightfall offers a private barbeque area, a fully-euipped commercial kitchen and an outdoor terrace for entertaining. The project is the third and final stage of Geocon’s Republic precinct in the Belconnen district.

The project offers two-bedroom, two-bathroom homes from $501,900.

2. <a href="/buildings/the-establishment-90-swain-street-gungahlin">The Establishment, Gungahlin</a>

One-bedroom apartments from $313,900 
Address: Corner Gundaroo Drive and Gozzard Street, Gungahlin ACT 2912

<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/geo1420_section224gungahlin_s060_int_living.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/geo1420_section224gungahlin_s060_int_living.jpg?itok=QV-Qyezf" width="580"></a>

Inspired by Chicago’s industrial warehouse scene, The Establishment offers one, two, three-bedroom and loft apartments “designed for luxury and forged in style,” the marketing reads. Homes begin at just $313,000 for a one-bedroom, one-bathroom apartment in the complex.

The residence offers private amenities, including a rooftop infinity-edge lap pool with outdoor spa and an exclusive outdoor strength and agility gym. It is located just five minutes from Yerrabi Pond and numerous parklands and walking tracks.

The project offers two-bedroom, one-bathroom apartments from $452,900. 

3. <a href="/buildings/metropol-81-cooyong-street-reid">Metropol, Reid</a>

One-bedroom apartments from $420,900 
Address: 26 Cooyong Street, Reid ACT 2612

<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/metropol_s080_int_typical2bedkitchen_apt619_schemeb_final200011.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/metropol_s080_int_typical2bedkitchen_apt619_schemeb_final200011.jpg?itok=yFMc4HsU" width="580"></a>

Located in Reid, Metropol features a selection of one, two and three-bedroom apartments and offers one-bedroom, one-bathroom apartments from $420,900. Just one minute walk from the CBD, Reid connects you to the epicentre of Canberra.

Metropol’s numerous private resident amenities offer great value for money, with an infinity edge pool, views across Glebe Park, high-tech entertainment facilities and a private penthouse that can be reserved by residents.

Two-bedroom, two-bathroom residences begin at $569,900 at Metropol. 

4. <a href="/buildings/midnight-1-elouera-street-braddon">Midnight, Braddon</a>

One-bedroom apartments from $429,900 
Address: 92 Northbourne Avenue, Braddon ACT 2612

<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/geoconmidnight_s010_ext_hero-final2000.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/geoconmidnight_s010_ext_hero-final2000.jpg?itok=vkGmP0Gn" width="580"></a> <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/geoconmidnight_s150_int_penthouseliving_final2000.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/geoconmidnight_s150_int_penthouseliving_final2000.jpg?itok=PGqeFI2l" width="580"></a>

Whilst a bit more expensive than the other homes on this list, Midnight is located in the heart of the vibrant suburb of Braddon and within walking distance of the Canberra CBD.

Midnight offers spacious and well-designed apartments with hotel-quality amenities and exclusive facilities.

This rare opportunity comes to first home buyers at an entry price of just $429,000. Offering amenities such as a 25-metre lap pool, waterfall features and shared facilities with the 199-room Midnight Hotel.

Two-bedroom, two-bathroom apartments within the project start from $624,900. 
</body></html>

Here are four residences you can secure for less than $430,000 in Australia's capital city.

urban.com.au

December 2020: New apartments you can buy in Canberra for under $430,000

<html><body><div class="page" title="Page 65">
<div class="section">
<div class="layoutArea">
<div class="column">
The local Canberra housing market has continued to be quite stable, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
The HTW report notes there are still active market participants, however there are lower sales listings available. 
The COVID-19 changes to public auctions did see a quick uptake of online auctions which proved to be quite successful with comparatively good clearance rates. 
"The apartment market has continued to experience a long period of strong supply and weakening demand. This has contributed to wider sale price fluctuations," the valuation firm said. 
The residential tenancy moratorium on evictions has affected rented properties also listed for sale; investors are approaching with more caution due to the uncertainty of rental income and ending the lease agreement during this time. 
In some cases, buyers have requested an extended settlement period to coincide with the end of the tenant’s fixed term lease (e.g. explicit term of the contract is vacant possession, however premises are tenanted, and thus responsibility is on the seller, not the buyer). This has resulted in some extended settlement periods on properties that would have sold within normal settlement periods pre-COVID-19.
A Lazy $700,000
Belconnen is a district located north-west of the Canberra CBD and surrounds Lake Ginninderra. There are a few options for a lazy $700,000, the report noted. 
A three bedroom townhouse in Belconnen has recently been sold for $655,000.
The<a href="https://www.realestate.com.au/sold/property-townhouse-act-belconnen-132721862" target="_blank"> 13/16 Morell Close</a> home (pictured below) comes with lounge room, kitchen and dining area and patio.
It also features evaporative cooling, ducted gas heating and double garage. 
<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/2020/7/20/belconnen.jpg" alt="">
In the suburb of Cook, $700,000 would be your entry point for a detached family home. 
If you are lucky enough to find one, it would be a circa 1960s three-bedroom, one-bathroom home with mostly dated interior situated on a 650 plus square metre lot.
Cook has continued to experience strong capital growth, which should give potential buyers more confidence.
"True is the old saying - buy the worst house in the best street," the valuation firm said. 
A three bedroom house in Cook has recently been sold for $690,000.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-cook-133262966" target="_blank">24 Templeton Street </a>(pictured below), the home features RC/AC to living room, lock up garage and workshop, 
</div>
<div class="column">
<div class="page" title="Page 65">
<div class="section">
<div class="layoutArea">
<div class="column">
It is situated close to Jamison Plaza, Belconnen Town Centre and ANU.
<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/2020/7/20/cook.jpg" alt="">
In the suburb of Evatt, your dollar will go a lot further, the report noted. 
"Typically, you could buy a circa 1970s renovated four-bedroom, two-bathroom detached dwelling situated on an 800 plus square metre lot," the valuation firm said. 
Evatt has experienced good capital growth, which is likely to continue in the short to medium term.
Thanks to the ACT Government’s Mr Fluffy Buyback Scheme, there has been an array of brand-new duplex and dual occupancy dwellings built on the remediated blocks within the established suburbs of Belconnen, some priced within the $700,000 price range.
<div class="page" title="Page 65">
<div class="section">
<div class="layoutArea">
<div class="column">
In the suburb of Flynn, you could buy a brand new turnkey, four-bedroom, two-bathroom dual occupancy dwelling with a two-car built in garage, the report noted. 
 Buyer demand has typically been a mix of first- home buyers, downsizers and investors.
 The short- term capital growth has been quite stable, as there continues to be a supply of other newly developed Mr Fluffy blocks available and in the pipeline.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

What a lazy $700,000 can buy in Canberra: HTW residential 

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

Canberra renovation work volumes remain stable: HTW residential 

<html><body>
Likened to an Australian-style Brady Bunch home, the Dwyer Street property has sold for $1,023,500 in an online auction.
The unique property at 49 Dwyer Street in Cook, resulted in the expected 31-hour online auction running 55 minutes overtime.
The property was the most-viewed ACT listing on realestate.com.au in the week to 23 April and has been among the top 10 most-viewed properties in the state for the past three weeks.
Selling agent Matt Sebbens, from Blackshaw - Belconnen, said the house was a standout in Canberra's market.
He said, "Bidding activity among the nine registered parties was subdued in the first 24 hours after the opening bid of $900,000, but there was a flurry of activity late on Friday."
"We were always really hopeful of getting around the $1 million mark so I was very happy with the outcome," Sebbens said.
It was the first time Blackshaw had used the timed online strategy to auction a property, which was staged via auction platform, AuctionNow.
Untouched since 1971, the five-bedroom, two-bathroom home is set on a 920sqm block and has 330sqm of internal living space as well as a 95sqm garage with parking for four vehicles.
</body></html>

Standout 'Brady Bunch' style Canberra home sells in online auction overtime 

<html><body>
Prior to the Coronavirus pandemic, the industrial market throughout Canberra was improving with broad demand from investors and owner-occupiers across most industrial precincts, according to the latest report from valuation firm Herron Todd White.
This resurgence has been particularly strong in Fyshwick.
“There is no doubt the current situation will set the market back, however our view is that Canberra is historically such a stable market outside of election cycles that in the current political climate the market will be well positioned to weather the storm and recover relatively quickly after the dust has settled,” said the firm in their April Month-in-Review report.
“In the interim, until the path for recovery has been laid out and the market is confident a bottom has been reached, we do expect some pain with sales and leasing activity to stall.” The boost that the hail storm provided to industrial leasing activity earlier in the year is expected to dissipate as vacant properties sit idle.
The market during this period of time will be skewed as it will be only financially exposed landlords who will be required to sell or enter into subleases at a discount.
“Herron Todd White’s commercial valuation team in Canberra is closely monitoring any sales and subleasing activity over this period of time as knowing all the details will be very important.”
As has been seen in all regions, the firm predicted that the disruption of global supply chains caused by the extended suspension of manufacturing in China may be seen as an opportunity for suppliers to establish local manufacturing facilities, while the rapid increase in online retailing which was already trending upwards may sustain and lead to increased demand for warehouse distribution centres.
“Nevertheless, it is uncertain how persistent and long-lasting the effects of the Coronavirus will be and at what point the global economy will begin to grow again,” the report concluded.
</body></html>

Canberra

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Canberra

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News