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


Joel Robinson

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

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


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

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


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

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


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

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


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

COVID-19

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<p>EXPERT OBSERVER</p>
<p class="p1"><span class="s1">The virus crisis creates unique challenges for everyone in real estate, including those of us who research, analyse and write reports.</span> </p>
<p class="p1"><span class="s1">Every quarter I write <em>The Price Predictor Index</em>, which analyses key data like sales activity and price trends for every suburb and town in Australia. Researching and writing that report stretches typically across two months – and in the past two months the world has changed.</span></p>
<p class="p1"><span class="s1">In some ways, the world is forever changed but the fundamentals underpinning Australia will not change. Areas with strong and diverse economies, growing populations, good existing infrastructure and investment in new infrastructure, will continue to be good places to own real estate. The underlying principles of supply and demand will remain intact on the other side of the shutdown.</span></p>
<p class="p1"><span class="s1">The Autumn 2020 edition of the PPI is based on data that pre-dates the full impact of the virus crisis on property markets (remembering that the figures from both CoreLogic and SQM Research show little negative impact during March) but it shows that Australia was full of strong markets going into the crisis – and gives a clue to life on the other side.</span></p>
<p class="p3"><span class="s2">The report identified growth markets right across Australia, finding uplift in places you don’t hear much about in mainstream media, as well as in the usual places. Based on our analysis of sales activity, the leading market jurisdictions were Regional New South Wales and Adelaide, ahead of Melbourne and Sydney.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">Other strong performers, in terms of the number of locations with rising sales activity, were Regional Queensland, Perth, Brisbane and Canberra. Regional South Australia was a surprise stand-out.</span></p>
<p class="p3"><span class="s2">Our Autumn 2020 survey identified 77 growth markets in Regional NSW, while Adelaide and Melbourne both had 69 suburbs with rising momentum - but we rate Adelaide higher because it had the same number of growth market as Melbourne despite being a much smaller city.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">The survey reveals that both Sydney and Melbourne were well into growth phases prior to the onset of the coronavirus period, as part of a major upward movement in most market jurisdictions across Australia.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">Exceptions included the two previous national leaders, Regional Victoria and Hobart, which were both past the peaks of their recent upward cycles. We would expect price growth in those plateau-ing markets to level off - even without the additional impact created by the virus.</span></p>
<p class="p3"><span class="s2">The report underlines some of the key principles of real estate which won’t change amid the current uncertainty. It demonstrates that price movements are preceded by significant changes in sales activity - and that prices take time to react to those trends.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">Our quarterly analysis shows that areas which experience a steady uplift in sales volumes will have increases in prices - eventually. And locations where sales activity is declining will eventually see price growth cease, or price decline.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">Both Sydney and Melbourne had falling prices in 2018 and early 2019, and this was preceded by a steady fall-off in sales volumes in the 12-18 months before values began their descent. Most researchers measure market peaks by price behaviour but at Hotspotting we measure it by analysing sales volumes – which allows predictions of whether prices will rise or fall in the near future.</span></p>
<p class="p4"><span class="s2">The report also provides further evidence of the folly of generalisation about property markets. Media often discusses Australia as a single market, with forecasts of the likely movement in “Australian house prices”. It’s a ludicrous concept, but that’s what they do, fed by press releases from economists who discuss real estate as a single national entity.<span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s2">It is equally foolish to discuss a city as a single market. Our Autumn 2020 survey shows that while there was a noteworthy recovery under way in both Sydney and Melbourne in late 2019 and early 2020, the uplift was not occurring evenly across those very large metro areas.<span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s2">In Sydney, the revival was seen most vividly in upmarket areas like the Northern Beaches and the Inner West. The outer ring locations remained relatively quiet (with the notable exception of the Blacktown LGA).<span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s2">And while Sydney overall was the strongest we had recorded in any of our quarterly surveys in the past five years, there remained 12 suburbs we classified as declining markets and another 12 we rated as danger markets. The latter were all locations dominated by apartments, where extensive recent new development had created over-supply, without any evidence as yet of an increase in demand or prices.<span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s2">In Melbourne, we saw some similar patterns, with considerable uplift in the top end suburbs and also in Middle Melbourne - strong middle-ring locations like the Whitehorse LGA - but relatively little response in many of the outer ring areas. Melbourne still had 16 suburbs classified as declining markets, but no danger markets.</span></p>
<p class="p5"><span class="s2">Equally, there can be stark contrasts in the performance of suburbs within a single local government area. The City Of Sydney LGA had five rising, 11 plateau, one danger and three declining markets - all those contrasting fortunes within one municipality, covering just 25 square kilometres of inner-city Sydney.<span class="Apple-converted-space"> </span></span></p>
<p class="p5"><span class="s2">Real estate markets are primarily driven by local events, even though national factors can impact sometimes. And we’ll find out how much when we see the data for April and May.</span></p>
<p class="p5"><span class="s2">I continue to expect the negative impacts from the virus crisis to be short-term – and that, when we’re through this bizarre period in the life of the nation, the fundamentals will still apply.</span></p>
<p class="p7"><span class="s1">T<em>erry Ryder is the founder of hotspotting.com.au</em></span></p>
<p class="p7"><span class="s3"><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></span></p>
<p class="p8"><span class="s1"><em>twitter.com/hotspotting</em></span></p>
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terryryder-YECXbqmri2

Negative impacts of COVID-19 on real estate to be short-term: Hotspotting's Terry Ryder

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<div>
<p class="post-title entry-title">EXPERT OBSERVER</p>
<p class="post-title entry-title">Very few cases of COVID-19 in Australia, with a handful of cases returning from overseas and headed to quarantine. </p>
<p id="post-body-464826279062726739" class="post-body entry-content"> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-4cgHNMSh-oQ/Xsx2s06IRqI/AAAAAAAA16g/wDLDtpPvcfkunQPJ6ms16Hj1eSX8Ba3kQCNcBGAsYHQ/s640/CV1.jpg" width="640" height="362" data-original-height="799" data-original-width="1410"></div>
<br><div>Recoveries continue to comfortably outstrip new cases.</div>
<br><div>And, importantly, we're consistently seeing zero deaths reported on a daily basis, with few serious cases even going as far as ICU. </div>
<br><div class="separator"><img src="https://1.bp.blogspot.com/-Oq1uYHyB-KM/Xsx2tGzEx0I/AAAAAAAA16o/8yxL_txLTsEmUkq7S9oXm1PF9d9-Es09gCNcBGAsYHQ/s640/CV2.jpg" width="640" height="362" data-original-height="798" data-original-width="1409"></div>
<br><div>There are 5 cases remaining in ICU nationally, against the expanded capacity of 7,500 beds.</div>
<div><span> </span></div>
<div><strong>Confidence returning</strong></div>
<div> </div>
<div>Consumer confidence increased for an 8th consecutive week, up by +0.4 per cent to a reading of 92.7 points according to ANZ-Roy Morgan.</div>
<div> </div>
<div>Future financial conditions gained by +3.2 per cent and is approaching its long term average reading.</div>
<br><div class="separator"><img src="https://1.bp.blogspot.com/-vCSe5Ue0BOI/Xsx2s1gwkFI/AAAAAAAA16k/Zeb8FGowur8NGJMmSaZfv2E44F65IjhawCPcBGAYYCw/s640/CC2.jpg" width="640" height="502" data-original-height="794" data-original-width="1011"></div>
<br><div><span><em>Source: ANZ-Roy Morgan</em></span></div>
<br><div>Credit card usage data shows that Aussies are willing and able to spend again, but realistically travel restrictions needs to be eased before the economy can begin to fire up properly.</div>
</div>
<div>
<div> </div>
<div>
<strong>PETE WARGENT</strong><em> 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>.</em>
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pwargent-M4siyDbqQY

Confidence up for 8th consecutive week: Pete Wargent

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<p>EXPERT OBSERVER</p>
<p>In brighter news, there's been no COVID-19 community transmission to speak of in Australia this week...ex-Victoria. </p>
<p>Unfortunately the Victorian government's shocking mismanagement of hotel quarantine means that there's now a potentially nasty second wave of the virus spreading exclusively in that state. </p>
<p><img src="https://1.bp.blogspot.com/-xOh3b4Tga-M/Xwn9wtOrb4I/AAAAAAAA25w/iEmfMiNIxQgg1LywLx57S7j_pky0hB5IQCNcBGAsYHQ/s640/CV2.jpg" width="640" height="362" data-original-height="806" data-original-width="1424"></p>
<p>With another couple of hundred cases over the past 24 hours Victoria now has 1,124 active cases.  </p>
<p>Elsewhere local cases have essentially been running at zero all week, which is a great result. </p>
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<p>Victoria will now go into another lockdown, this time for at least six weeks, which is a disastrous hammer blow for the local economy. </p>
<p><strong>Auctions slump</strong></p>
<p>Sydney recorded rock solid auction results on Saturday, with the median price of property sold under the hammer rising to $1,260,000. </p>
<p>In Melbourne. however, auction success volumes and results have unsurprisingly begun to plummet as consumer confidence has been demolished by the lockdown announcement.<br><br>Alas it's now only a matter of time before someone rolls out another 'tale of two cities headline'...sigh.</p>
<p class="separator"><img src="https://1.bp.blogspot.com/-bS9hrg3w0aM/Xwn-fG6nTCI/AAAAAAAA26I/K1-zMVsC9cE0307sg6isljwJ2gh9q--YACNcBGAsYHQ/s640/AUc.jpg" width="640" height="132" data-original-height="142" data-original-width="681"></p>
<p><span>To date Melbourne's housing prices have fallen by about 3 per cent since April.</span></p>
<p class="separator"><img src="https://1.bp.blogspot.com/-kOYG-7W4zJU/Xwn_kvtbqkI/AAAAAAAA26U/sEObUN7SdaYsMamI1aEtXuej2Lsf2vfMgCNcBGAsYHQ/s640/CV3.jpg" width="640" height="354" data-original-height="803" data-original-width="1447"></p>
<p><strong>Look out below</strong></p>
<p>I'm not usually in the business of making serious predictions, which are usually broad brush and often prove to be pointless.</p>
<p>But these sorts of auction results in Melbourne have normally been commensurate with something close to double digit pace declines in housing prices, and in all likelihood may point to a 10 to 20 per cent decline in Melbourne's market.<br><br>Given that Greater Melbourne is Australia's second largest economic hub - and that it's long been accounting for such a significant share of growth - the decision to lock down for six weeks has all but cruelled the chance of a meaningful recovery any time soon. </p>
<p>Research across half a century of historical data from the Bank of England has shown that falling house prices lead to fear of negative equity, falling confidence, and consumers declining to spend, borrow, or invest.</p>
<p> If the Federal government wants to stand any chance of getting the Australian economy back on its feet this year the Treasurer should announce on July 23 a temporary stamp duty holiday for the remainder of 2020 (and fund the difference for the states by making use of bond yields at record lows).</p>
<p>Alternatively, and more sustainably, broaden the GST and raise the rate to 12.5 per cent. </p>
<p><strong>PETE WARGENT</strong><em><strong> </strong>is the co-founder of AllenWargent property buyers and a best-selling author and blogger </em></p>
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Melbourne lockdown kills chance for a meaningful property recovery: Pete Wargent

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<p>EXPERT OBSERVER</p>
<p>Melbourne markets have held up better than most against the forces of Covid-19. The number of growth markets has dropped but it remains at solid levels – and prices have continued to perform well, in defiance of predictions (by the usual suspects) of a collapse.</p>
<p>The latest quarterly survey of sales activity by Hotspotting has found fewer growth suburbs than the previous survey, but still better than all other quarters since the Melbourne market peak in 2017.</p>
<p>This tells us that the Melbourne market has dropped in terms of sales activity, thanks to the restrictions imposed for the coronavirus, but remained stronger than during the post-boom downturn phase that extended throughout 2018 and early 2019.</p>
<p>Melbourne has done particularly well with price performance – with houses coming back strongly in the most recent quarter, but with apartments doing better than houses in annual terms.</p>
<p>In the past 12 months, two-thirds of Melbourne suburbs with apartment markets recorded growth in their median unit prices – and most of those growth suburbs increased their median prices by more than 5%.</p>
<p>House markets were less positive in annual terms, with only one-third recording price growth over the past months.</p>
<p>But the situation with house prices is starkly different when looking at the most recent data: 88% of Melbourne suburbs recorded growth in their median house prices in the most recent quarter.</p>
<p>This reflects the overall trend in the market. In the first half of 2019, Melbourne prices generally were falling, following the end of the previous boom and impacted also by the lead-up to the Federal Election.</p>
<p>Markets started to recover in the second half of 2019 and the early months of 2020 – so that most suburbs were recording price growth in their housing markets, but two-thirds still remained below the levels of 12 months earlier.</p>
<p>The data suggests Melbourne markets have been resilient price-wise in the Covid-19 period, despite the fall in sales activity which is reflected in our Winter 2020 survey of sales volumes.</p>
<p>In the circumstances, a result of 32 suburbs with growing sales activity is a solid performance and is better than all the quarterly surveys of 2018 and 2019.</p>
<p>The Mornington Peninsula has been the standout performer in our Winter 2020 survey: seven suburbs have continued to deliver growth in sales activity. Growth suburbs include Blairgowrie, Hastings, McCrae, Rye, Safety Beach, Sorrento and Tootgarook.</p>
<p>Quarterly sales in Safety Beach have been 33 46 45 47 54 and 64 over the past 18 months and the median house has risen 3% in the latest quarter while the median unit price is up 25% over the past 12 months.</p>
<p>In Hastings, quarterly sales have been 43 49 67 69 and 73 – and the median house price has increased 4.6% in the most recent quarter.</p>
<p>The next best LGA in terms of the number of suburbs with growing sales activity is the upmarket Glen Eira LGA, with three growth suburbs and two consistency markets. The growth suburbs are Carnegie, Caulfield North and Ormond.</p>
<p>There are seven municipalities with two growth suburbs each, including the Moreland LGA where both Brunswick East (63 79 80 83 and 86) and Brunswick West (52 60 63 76 and 83) are growth markets.</p>
<p>The Brunswick West unit market has been particularly strong, with notable growth in its median price both for the most recent quarter and over the past 12 months (up 18%).</p>
<p>This Winter 2020 survey has identified 11 suburbs as declining markets – a surprisingly small number given the Covid-19 circumstances – and three danger markets.</p>
<p>The locations we have ranked as danger markets are the Melbourne CBD, Southbank and Docklands, all inner-city apartments markets where sales activity has dropped markedly at a time when vacancy rates have spiked because of the Covid-19 impacts.</p>
<p><em>Terry Ryder 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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Melbourne market holding up better than most during Covid-19: Hotspotting's Terry Ryder

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<p>One of the recent trends in real estate is more people moving from the big cities and buying in lifestyle areas within an hour or two of the city.</p>
<p>This movement has been enhanced by technology which allows people to work from home or by improved transport links.</p>
<p>I’ve described Regional Victoria as the strongest market in the nation over the past two years, based on data on sales activity and price growth in multiple locations.</p>
<p>And much of the uplift in markets within an hour or two of Melbourne – in the north, north-west and the south-east – has been driven by buyers out of Melbourne, both home-buyers and investors.</p>
<p>In the six months before the onset of the virus-induced restrictions, there had also been a notable increase in sales activity, with consequent positive impact on prices, in regional areas close to Sydney, including the Central Coast, the Southern Highlands and the Wollongong region.</p>
<p>I believe this trend will be further exacerbated by the current situation, which is forcing people to work from home.</p>
<p>Some will make it a permanent arrangement – and increasingly we are seeing media commentary to that effect.</p>
<p>An article last week in the Herald Sun in Melbourne said:</p>
<p>Many Melburnians will leave the city behind for regional Victoria during the coronavirus crisis, property experts say.</p>
<p>Agencies are reporting a “significant increase” in inquiries about regional properties from city dwellers “seeing the benefits” of working from home due to the COVID-19 lockdown, and keener than ever to escape the “madness” of Melbourne life.</p>
<p>Others are viewing the pandemic-impacted market as offering opportunity to get their feet on the property ladder in affordable areas.</p>
<p>A report from JLL says the COVID-19 quarantine policies have sent employees of all levels – from chief executives to junior staff – home with laptops to their kitchen tables.</p>
<p>“With this mass experiment under way, there is a belief among workplace experts that such set-ups could become more prevalent at companies large and small,” it says.</p>
<p>“Well beyond the peak of the crisis, corporate culture and, more than likely, the digital skills of global workforces, will have changed in significant ways. Location and working hours could become more flexible, leading to better productivity and improved work life balance for individuals.”</p>
<p>Gillian Rowbotham, human experience director – Australasia at JLL, says: “Given how suddenly everything changed, that tech has stood up pretty well, and people are mostly enjoying the flexibility to manage their day according to what needs to be done, I think we are inevitably entering a new dawn in the workplace experience.”</p>
<p>Interior architect Iva Durakovic suggests the success of working from home will mark the end of the office as we current know it, with remote working becoming the new norm.</p>
<p>The Associate Lecturer at UNSW Built Environment believes that remote working arrangements will continue long after the coronavirus pandemic has passed and will also change the nature of office spaces for the better.</p>
<p>"We already saw this idea of a distributed workforce getting stronger - and this will only accelerate it,” she says.</p>
<p>She says that widespread working from home is shaking up the role of the traditional workplace and highlighting what is truly valuable.</p>
<p>"It will break down what we need to come to a traditional workplace for, like face-to-face contact, and the way the future work environment looks. And it will be very different."</p>
<p>All of this has consequences for real estate. It provides another good reason for property investors to consider regional real estate, which offers greater affordability and higher rental yields than the big cities – and, if you choose your location well, good potential for capital growth.</p>
<p>We’ve seen excellent price growth in the past year or two, not only in Regional Victoria, but also in regional locations in NSW, Tasmania, South Australia and increasingly in Queensland.</p>
<p>TERRY RYDER is the founder of hotspotting.com.au</p>
<p><a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a></p>
<p>twitter.com/hotspotting</p>
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Regionalisation: The positive real estate trends exacerbated by COVID-19: HotSpotting's Terry Ryder

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<p>EXPERT OBSERVER</p>
<div>Yet another inflation target miss was recorded for the June quarter.</div>
<div> </div>
<div>Nothing too earth-shattering there - the target has consistently been missed for years - but this one was a real corker, with headline inflation down by -1.9 per cent in the June 2020 quarter.</div>
<div> </div>
<div>And now the annual inflation rate has also turned negative, which a true rarity.</div>
<div> </div>
<div>Stated the ABS:</div>
<div><strong><em> </em></strong></div>
<div><em>'Since 1949, this was only the third time annual inflation has been negative. </em></div>
<div><em> </em></div>
<div><em>The previous times were in 1962 and 1997-98.'</em></div>
<div> </div>
<div>Underlying inflation was pretty flat for the quarter.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-zkgBciXdxgs/XyE29Bo1OQI/AAAAAAAA3VE/jP62pSmF3WkjpTlN7WZf3iGlg6YJuvchQCNcBGAsYHQ/s640/PW.jpg" width="640" height="126" data-original-height="135" data-original-width="683"></div>
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<div>Grattan recently produced a fairly damning indexed chart showing how inflation would've tracked higher had the target been hit over the past five years versus the actuals, a period through which there's been a persistent output gap, weak wages growth, and oodles of spare labour force capacity. </div>
<div> </div>
<div>We're still getting no closer to the inflation target then. </div>
<p><img src="https://1.bp.blogspot.com/-GuyrxR0LcdU/XyE197Iof6I/AAAAAAAA3Us/7ilsxHD355ESAA7OgfmRuvoGqYN1PbStwCNcBGAsYHQ/s640/A1.jpg" width="640" height="374" data-original-height="798" data-original-width="1361"></p>
<p>The main contributors to the weakness over the quarter included declining childcare and fuel prices.</p>
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<p>The CBD rental markets were hit with a swathe of Airbnb and student rentals in the June quarter, and the rental price index also turned negative year-on-year...for the first time ever. </p>
<p><img src="https://1.bp.blogspot.com/-xopSOfZK4aM/XyE2GoQgGHI/AAAAAAAA3U0/on8rPBYcHIwdFBDw-AA6TgZAGutBgM-8wCNcBGAsYHQ/s640/A2.jpg" width="640" height="360" data-original-height="804" data-original-width="1427"></p>
<p>There will be something of a bounce in Q3 in some categories, and truthfully there weren't too many surprises here, but overall there's a long way to go before things recover.</p>
<div>Detailed report as always from from James Foster here.</div>
<p><strong>PETE WARGENT</strong><em><strong> </strong>is the co-founder of AllenWargent property buyers and a best-selling author and blogger </em></p>
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Annual inflation negative for the third time ever: Pete Wargent

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<p>Just one in 10 cash-strapped borrowers who took a COVID-19 mortgage break from repayments to the big four banks have exited the payment relief program.</p>
<p class="indent">The Australian Banking Association confirmed many Australians are unwilling to make any repayments.</p>
<p class="indent">About 485,000 mortgages have been deferred in Australia with the nation’s largest seven banks, including the Commonwealth Bank, National Australia Bank, Westpac, ANZ, Bendigo and Adelaide Bank, Suncorp and Bank of Queensland.</p>
<p class="indent">But new data released by the big four banks found that in May and June:</p>
<p>• About 75,800 customers on mortgage deferrals had exited the repayment holiday program (9 per cent).</p>
<p>• About 50,000 are making partial repayments and 62,500 are making full repayments (15 per cent).</p>
<p class="indent">The ABA’s chief executive, former Queensland premier Anna Bligh, said there was "a very long road and plenty of hurdles to clear." </p>
<p class="indent">Customers were initially given repayment deferral for up to six months, but banks are set to offer further extensions.</p>
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j.ballantyne1990-6AQqhLzZaK

Most mortgage relief recipients still taking COVID-19 repayment break

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<p>EXPERT OBSERVER</p>
<p>Regional Queensland has achieved something that few jurisdictions across Australia have managed: it has maintained its previous high levels of well-performing markets in defiance of Covid-19.</p>
<p>Hotspotting’s Winter 2020 survey of sales activity has identified 54 growth markets and 30 consistency markets, down only marginally on the results of the previous (Autumn 2020) survey, which found 55 growth locations and 34 consistency ones. This was the strongest performance by Regional Queensland in three years and the results of this latest survey are only slightly inferior.</p>
<p>The number of “declining” markets has reduced (from 12 to six to four in recent surveys) and there are now few danger markets in Regional Queensland outside of the perennial struggler, Mount Isa.</p>
<p>Compared to the Covid-inspired deterioration in the results of other major jurisdictions across the nation, this is a commendable performance – and provides further evidence that regional areas have done much better in the pandemic period than the biggest capital cities.</p>
<p>The well-performing markets include Townsville, Mackay, Rockhampton, Hervey Bay, Gympie and Toowoomba, as well as the Regional Queensland heavyweights, the Sunshine Coast and the Gold Coast.</p>
<p>In addition, we have seen further evidence of recovery in the Gladstone market, after multiple years in decline.</p>
<p>We continue to rate the Sunshine Coast one of the strongest economic and real estate stories in the nation and it has produced another solid result in this winter survey. The Sunshine Coast Regional Council area and neighbouring Noosa Shire have 11 suburbs with rising sales activity and eight others with consistent sales performance. There are also a number of locations which have delivered strong price growth in the past 12 months.</p>
<p>Nearby Gympie has a number of growth locations and is poised for a sustained period of growth, given major infrastructure projects and its improved links to the boom Sunshine Coast economy.</p>
<p>Sales activity overall in Gold Coast City has declined, unsurprisingly given the impact of Covid-19 on an economy so heavily reliant on tourism. This is reflected in the 35 suburbs with plateau markets. Nevertheless, there remain 10 suburbs with rising sales activity.</p>
<p>There are solid performers spread across Queensland, stretching from Townsville in the far north to more southerly locations like Hervey Bay and the inland city of Toowoomba.</p>
<p>Townsville has five suburbs with growing sales and, boosted by major infrastructure projects, is poised for a recovery from the previous downturn.</p>
<p>Mackay, a growth market we have noted in previous surveys, also has five growth suburbs and has a number of locations delivering strong price growth. Sales in South Mackay have been 20-27-35-34-52 in the past five quarters, a pattern which had led to strong price growth recently.</p>
<p>Rockhampton is showing increasing signs of revival, with four growth suburbs and three with consistent sales performance. The suburb of Berserker has lifted quarterly sales from 21 to 31 to 33 to 43 in the past year. Frenchville and Gracemere display similar growth patterns.</p>
<p>The Fraser Coast, based on Hervey Bay, is showing increasing signs of a growth phase, with five suburbs with growing buyer demand.</p>
<p>Toowoomba, after several years of moderate activity, is showing symptoms of a rising market, with three growth and four consistency suburbs.</p>
<p>The one disappointing result comes from Cairns, which stood out strongly in the previous Autumn survey as a rising market with nine growth suburbs. But this Winter survey finds only two growth suburbs, with sales in most Cairns suburbs falling away recently. This is an economy strong reliant on tourism, including international visitors, which has taken a serious hit from Covid-19.</p>
<p>Regional Queensland has also performed well on price growth. Six out of 10 locations have produced some level of growth in their median house prices in the past 12 months and most of those where prices have declined have done so only marginally.</p>
<p>The Sunshine Coast has a number of strong performers with annual price growth, led by Warana (19%), Minyama (16%) and Noosa Heads (11%).</p>
<p>The Gold Coast also has a number of growth locations, including Runaway Bay (18%), Worongary (15%), Palm Beach (11%) and Mermaid Waters (10%).</p>
<p>Mackay has some outstanding performers, including South Mackay (16%), Blacks Beach (14%) and Bucasia (10%).</p>
<p>I’ve previously noted the revival signs in Gladstone, with vacancies down and rents rising. We are now seeing evidence of prices rising, although from a low base. West Gladstone is up 16% and Glen Eden 23% in annual terms, while Calliope, New Auckland and Tannum Sands have all risen 8-9% in the past year.</p>
<p>Other resources-related locations where prices are rising from low bases include Moranbah (up 19%, but still only with a median of $240,000) and Blackwater (up 45%, but with typical houses still worth only $130,000).</p>
<p>Emerald is headed back to growth, with quarterly sales of 50-56-59-63-72 in the past five quarters.</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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Regional Queensland market maintained strong performance despite COVID

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<p class="post-title entry-title">EXPERT OBSERVER</p>
<div id="post-body-4827528758440754749" class="post-body entry-content">
<div>Australia's recent figures on COVID-19 have been nothing short of remarkable.</div>
<div> </div>
<div>Lest you think that's an exaggeration, think back to what the medical experts were forecasting only one month ago, which was a tragically similar path to the worst hit countries. </div>
<br><div>Yesterday, Australia ramped up the daily total in testing to a much larger 14,980, of which 42 tested positive, or 0.3 per cent. </div>
<div> </div>
<div>More than 411,000 tests have now been carried out nationwide. </div>
<div>
<br>Encouragingly the rate testing positive has continued to fall very consistently from 2.8 per cent on March 30 to just 0.3 per cent yesterday. </div>
<div>
<br>Greg Hunt noted this morning that total new confirmed cases have increased by under 1 per cent for each of the past seven days, resulting in a 'genuine and sustained flattening of the curve'.</div>
<br><div class="separator"><a href="https://1.bp.blogspot.com/-XDEE0SHWHfM/XpuhfCrmNsI/AAAAAAAA1TY/Ilk9aBeQHF08UX8-dm6DThw4sleJO5ItwCNcBGAsYHQ/s1600/CV2.jpg"><img src="https://1.bp.blogspot.com/-XDEE0SHWHfM/XpuhfCrmNsI/AAAAAAAA1TY/Ilk9aBeQHF08UX8-dm6DThw4sleJO5ItwCNcBGAsYHQ/s640/CV2.jpg" width="640" height="366" data-original-height="805" data-original-width="1406"></a></div>
<br><div>There were 10 new confirmed cases yesterday in New South Wales relating to two known clusters (Anglicare at Caddens in Western Sydney, and the Ruby Princess cruise ship). </div>
<div> </div>
<div>That result was from a very substantial 5,152 tests.</div>
<div> </div>
<div>Today Victoria reported just 9 new cases from 3,000 tests, and Queensland had only five new confirmed cases.<br><br>North-west Tasmania has seen a cluster of cases related to hospitals, while elsewhere in the country numbers have fallen to zero, or very close to zero in recent days. </div>
<br><div class="separator"><a href="https://1.bp.blogspot.com/-nqTokFlFV44/XpuhfAF0frI/AAAAAAAA1Tc/uG-qTZK6MgQMRfh6X_l8_4L7CqvcknDnQCNcBGAsYHQ/s1600/CV1.jpg"><img src="https://1.bp.blogspot.com/-nqTokFlFV44/XpuhfAF0frI/AAAAAAAA1Tc/uG-qTZK6MgQMRfh6X_l8_4L7CqvcknDnQCNcBGAsYHQ/s640/CV1.jpg" width="640" height="364" data-original-height="801" data-original-width="1407"></a></div>
<br><div>Recoveries have comfortably exceeded new cases over the past week, and the number in ICU has almost halved, down by another 6 today to just 49 (versus the planned expanded capacity of 7,000), with 31 presently on ventilators. </div>
<div>
<br>Greg Hunt reported today that Australia has received some 60 million masks, which is 6 million than anticipated, and two weeks early than expected.</div>
<div> </div>
<div>Australia is 'the envy of the world' according to the government reports; let's hope it stays that way.</div>
<div> </div>
<div>
<strong>PETE WARGENT</strong><em> 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>.</em>
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Miraculous improvement in COVID-19 cases: Pete Wargent

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<p>Commentary on the future direction of the residential property sector has been diverse.</p>
<p>As Gary Brinkworth, the boss of the Herron Todd White valuation firm recently noted, some observers are expecting a subtle slowdown, while others predict a catastrophic collapse.</p>
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<p>He suggests these views fail to understand the complexity of the Australian residential property sector and that having specialist knowledge at a localised level was key to good decision making.</p>
<p>It adds its can be difficult to keep up as markets adapt to the challenges around COVID-19.</p>
<p>"Some locations have seen monumental disturbance to their usual state of affairs, while others have barely registered a ripple.</p>
<p>"COVID-19 has amplified the diversity of Australia’s resident property markets by location, price point and property type," he added.</p>
<p>Well informed valuers, like well informed estate agents, are well informed on sales activity and price direction.</p>
<p>Brinkworth acknowledged Herron Todd White in Sydney made the decision in early March that all staff would work from home.</p>
<p>The decision was made to ensure that any potential exposure to the virus did not place further risk on other staff and their clients, whose homes they inspect daily.</p>
<p>They changed the way they conduct inspections - with hand sanitiser, face masks and disposable gloves becoming just as importan as their tablets and laser measurers.</p>
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<p>HTW has also developed a contactless inspection tool which allows occupants to take internal photos which feed straight into their valuation system, allowing valuations when a COVID-19 related concern means a property cannot be fully assessed.</p>
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<p>This has allowed mortgage applications to proceed instead of being delayed by weeks or even months until internal access became available.</p>
<p>His team, while noting some statistics may not yet be showing a decline in values across the Sydney market, have seen evidence from selling agents indicates that values are falling, particularly in some areas and for some price sectors, although not necessarily uniformly within these sub-markets.</p>
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<p>The rental market has seen a more immediate impact however, with listings increasing and rents falling, which will certainly have an impact on yields and prices.</p>
<p>Looking around the regions the Northern Beaches has appeared to absorb much of the negative sentiment and restrictions surrounding the pandemic, although "there is a strong chance you will be paying less than you would have three months ago for the same product."</p>
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<p>The slowdown in volumes of transactions in inner Sydney and the Eastern Suburbs made it difficult to ascertain any emerging pattern emerging, but HTW advised in previous downturns, the inner city market segment most vulnerable to volatility is the upsizer price bracket, typically from $2 million to $3 million.</p>
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<p>It also noted properties falling in the Airbnb sector are being impacted, for obvious reasons. </p>
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<p>HTW have been still seeing reasonably strong activity in the west, particularly at the entry level.</p>
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<p>Like the eastern suburbs, the North Shore prestige market is more accustomed to off-market transactions, so recent restrictions around open for inspections and public auctions have not impacted this part of the market as much as lower price points.</p>
<p>Overall HTW conclude the long term outcome of the COVID-19 pandemic for the property market is uncertain.</p>
<p>The Sydney property market is resilient, as seen by the recovery from the 2017 to 2019 downturn. </p>
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<p>However, HTW anticipate a slower return to normal, depending on just where unemployment numbers end up and the extent of a decrease in short term immigration numbers.</p>
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