New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

Gold Coast

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Most investors appear to be acutely aware of the current interest rate and predictions of it being on the decline, according to a recent Herron Todd White (HTW) residential report. 
The HTW report suggests this has put a positive slant on the Gold Coast Central North local market. Another positive is the general optimism in the national economy, however this is now very fluid due to the Coronavirus pandemic, with some local agents reporting a fall in enquiries.
<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</div>
"A major factor on the Gold Coast is the perceived low values of properties compared to the capital cities such as Melbourne and Sydney and overseas markets," the valuation firm said. 
A major local influence on the Gold Coast has always been proximity to water, whether beach, broadwater, river, lake or canal. 
Secondary location factors are proximity to the perceived better schools, commercial precincts and public transport corridors such as proximity to the new light rail or access to M1 motorway, the report noted. 
First home buyers are most influenced by budget and need for compromise. Many are buying small lowrise units in the older areas such as Southport or driven to the north-west corridor developing area. Upgraders are driven more by location (i.e. water locations).
A first floor apartment situated in the heart of Southport has recently been sold for $240,000. 
The<a href="https://www.realestate.com.au/sold/property-unit-qld-southport-132891778" target="_blank"> 9/14 Rose Street</a> home (pictured below) was last sold in 2013 for $299,000.
It comes with one bedroom, one bathroom, modern kitchen and outdoor balcony. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/southport.jpg" alt="">
Empty nesters are usually seeking smaller dwellings in locations with good proximity to health services and established commercial precincts.
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"A major factor has been the oversupply of medium to high density housing such as modern medium rise apartments and townhouses. We have seen a dramatic decrease in demand for this type of property," the valuation firm said.
A three bedroom townhouse in Southport is currently on the market with a price guide of over $449,000.
The <a href="https://www.realestate.com.au/property-townhouse-qld-southport-133020038" target="_blank">15/2 Bronberg Court</a> townhouse (pictured below) features large kitchen, lounge with ceiling fan, and undercover alfresco. 
It is located within easy access to public transport, schools, restaurants and shops. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/southport%203.jpg" alt="">
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<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
</div>
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j.ballantyne1990-6AQqhLzZaK

Gold Coast Central North property market sees dramatic decrease in demand for medium rise apartments: HTW residential 

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The market throughout Gold Coast North West, Scenic Rim and Lower Logan region covers a wide range, from older housing to brand new estates, according to a recent Herron Todd White residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
The report suggests investors traditionally forming a large proportion of purchasers in this region across all categories.
"The record low interest rates have influenced buyers in this region, keeping purchasing activity steady. Record low rates inevitably correlates to higher debt levels as money gets cheaper," the valuation firm said. 
Some home owners have been unable to sustain payments at the higher debt levels and as a result, there have been more mortgagee in possession sales occurring in recent months.
Price point has always been the big lure to investors in this region with Sydney and Melbourne buyers able to buy several houses here for the same price as only one in their home towns, the report noted. 
A current offering in the Scenic Rim Region's Beaudesert is a three bedroom house priced at over $299,000.
The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-beaudesert-133447382" target="_blank">5 James Street </a>(pictured below).
It features modern kitchen, air-conditioned living area, undercover deck and garden shed.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/18/beaudesert%202.jpg" alt=""> 
"Rental returns have always been top of the list of attributes for interstate buyers with many older style properties achieving rental returns that are positively geared or very close to it. We have also seen a large rise in the dual occupancy market in new housing estates," the valuation firm said. 
Buyers can build a dual occupancy dwelling on a site larger than 400 square metres with most construction and land packages costing between $500,000 and $560,000 and achieving between $630 and $680 per week rent.
"When combining the calculation of these returns with the benefit to the investor in potential capital gains, they become quite an attractive offer.
"We are also seeing an oversupply of townhouses and low rise units in and around Beenleigh with new products seeing very large discounts on resale and some developers advising that it is difficult to build product and maintain profit." 
A Beenleigh two bedroom Unit within a small secure complex has recently been sold for $255,000.
The property at <a href="https://www.realestate.com.au/sold/property-unit-qld-beenleigh-132990970" target="_blank">7/35 Solar Street </a>(pictured below) was last sold in 2008 for $250,000.
It comprises two bedrooms, two bathrooms, open plan living and outdoor entertainment 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/2020/5/18/beenleigh.jpg" alt="">
<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
</div>
<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
</div>
</div>
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Purchasing activity keeps steady in Gold Coast North West property market: HTW residential 

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A mortgagee sale of a modern style townhouse in Pacific Pines has been listed for auction on May 30. 
Located at <a href="https://www.realestate.com.au/property-townhouse-qld-pacific+pines-133538114">17/2 Sangster Crescent</a>, 'Parkview on Sangster' offers open plan living and dining with beautiful views. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-05-14%20at%202.38.51%20pm.png" alt="">
The three-bedroom, two-bathroom home features a private courtyard and central park area with BBQ and swimming pool. 
The home is listed by PRD’s Andrew Turner.  
The median unit price for Pacific Pines is $326,000, according to data from CoreLogic. 
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Pacific Pines mortgagee townhouse listed

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The extremes of drought, fire and floods, a potential virus outbreak, and other economic challenges, have taken their toll on the Gold Coast retail market, according to the latest report from valuation firm Herron Todd White.
“Stagnant wage growth and changing spending habits have been major contributors to lacklustre retail performance, while the increase in online shopping has had an impact on traditional bricks and mortar retailing,” the March report found.
Further, many established retail centres within the Gold Coast’s suburban areas have been impacted to some degree by the increase in online retailing, as well as restaurants and cafes.
In general, throughout 2019 there was increased stress on retail tenants on the Gold Coast, resulting in downward pressure on rents and upward pressure on incentives - A similar situation is expected throughout 2020.
“Landlords should consider rental affordability rather than purely the rate per square metre achievable and should carefully weigh up the pros and cons of having a tenant in place at an affordable (although possibly lower) rental, versus achieving a higher rental with greater risk of tenant failure. The global retail landscape is changing and local retailers and property owners must be aware and adapt as best they can,” the firm added.
Locally, broad examples of reinvention include the growth in quality cafes and restaurants in the suburbs on the southern Gold Coast, the creation of a China Town within Southport and on a more general scale, the increased number of convenient, drive-through cafes and food premises.
“The one saving grace is the current historically low interest rate environment, which commentators predict will stay lower for longer,” the report said.
Therefore, while rental levels have been impacted, yield levels have firmed and investor appetite for a return on investment is strong, helping to protect property values. The following case study is indicative of the strong results being achieved for quality retail investments, with recognised tenants and long WALEs.
The Pimpama Service Centre sold in September 2019 for $16.35 million, reflecting an analysed yield of 5.81%.
It was purchased by a high net worth private investor after an extensive marketing campaign.
This is a modern service station and fast food complex completed in 2018, located within a developing retail precinct at Pimpama on the northern Gold Coast. It is anchored by a United Petroleum service station and there are five fast food tenancies, including Carl’s Jr, Red Rooster, Pizza Hut, Zambrero and a Chinese restaurant.
The WALE equates to 11.27 years (by income).
The valuation firm ultimately concluded that “strong demand from investors for quality retail investments on the Gold Coast will continue throughout 2020, with the low interest rates and desirable location attributes maintaining yields at firm levels.”
In terms of overall retail property values, the firm also considers that the weaker rental market will be offset to some degree by the firm yields being achieved.
However, for long term success, it will be imperative for all stakeholders to carefully monitor changing retail and cultural trends, both locally and abroad and to adapt as best they can.
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Natural disasters and Coronavirus pile pressure on already-struggling Gold coast retail market: HTW Commercial

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Te Moana, a luxury Broadbeach Waters mansion situated between the Nerang River and Albert Park, has been listed for sale. 
The <a href="https://www.realestate.com.au/property-house-qld-broadbeach+waters-131893742" target="_blank">Monaco Street property</a> has been listed through Luxure estate agent Sonja Smith for $12,950,000. 
The five-bedroom, six-bathroom house, features an array of open plan living and dining areas that flow out onto a multitude of outdoor entertaining terraces, high ceilings, manicured gardens, and a 15 metre pontoon which will cater for a large boat and several jet skis. 
The 3,300 sqm offers a range of entertainment opportunities outdoors including an BBQ, kitchen area, resort style swimming pool, water features, showers and fireplace. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/10/6_BROADBEACH%20WATERS%20OUTSIDE.jpg" alt="">
Inside, the 1300 sqm of interior space showcases a classic timber sweeping staircase, a gourmet chefs kitchen with gas cooking, butlers pantry, wine cellar, rumpus room, and separate guest wing with a home office area. 
Taking on 43 metres of main river frontage, the home is fitted with timeless finishes and classic styling, ducted air-conditioning and alarm security throughout. 
The property was last sold in 2016, for $11,000,000,  $8.5 million in 2010 through, and rented for $5,000 per week prior that in 2008. 
The area recently sold 70 other similar five-bedroom houses, reports Realestate.com.au.
The most recent being a five-bedroom, four-bathroom house at<a href="https://www.realestate.com.au/property/255-monaco-st-broadbeach-waters-qld-4218" target="_blank"> Coral Gables Key</a> which sold for $1,665,000 last month. 
 
 
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Luxury Broadbeach Waters mansion for sale 

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Former Olympic swimmers Roger and Diana van Hamburg are seeking a new Gold Coast home, with plans on moving north.
The couple, wo were internationally competitive in the 1960s and 1970s, have listed their Sunland Group development apartment for $975,000.
Roger swam in individual medley and freestyle relay events for his native Netherlands at the Munich Olympics in 1972 and Diana Rickard competed for Australia in backstroke and individual medleys at the Mexico Olympics in 1968.
They have listed their <a href="https://www.realestate.com.au/property-apartment-qld-benowa-132329790" target="_blank">Benowa apartment at Marina Concourse</a>.
The three-bedroom unit was bought in 2016 on moving from NSW.
<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/2020/1/21/7_SWIMMERS%20APART.jpg" alt="">
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The apartment's balcony overlooked Royal Pines marina and golf course.
<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/2020/1/21/7_SWIMMERS_VIEW.jpg" alt="" width="549" height="363">
The community also has resident facilities, including a pool and barbecue area.
The couple still swim every day and teach regularly at the neighbouring Superfish Swim School, the Gold Coast Bulletin advised.
Their daughter, Sasha, is married to another Olympian, former Australian freestyle and butterfly swimmer Adam Pine.
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firstname1-iYD4UYzvBa

Former Olympic swimmers list luxury Gold Coast apartment

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EXPERT OBSERVER
Why should property investors care that Perth and the Gold Coast are now considered "regional" towns instead of "metro" cities? 
They should care because the change could have a significant impact on the real estate markets in those two cities, creating both opportunities and risks for investors. Here, I will explain why.
We all know that immigration is one of the reasons Australia's economy has kept growing year after year, for the past 27 years. A provocative professor at the University of Sydney claims that Australia's "economy is addicted to immigration" because —without the constant growth in population— our economy actually would have gone into recession several times over the past three decades.
Saving the country from recession isn't enough anymore, however. The federal government wants immigrants to do more. That's why it's passed its regional immigration plan, which allocates 25,000 visas to immigrants who are willing to live for three years in regional Australia. After that, they can qualify for permanent residency. 
The government billed the plan as a way to boost hardscrabble Australian bush towns.
Now, the government has decided that both Perth and the Gold Coast qualify as "regional" under the regional migration program. While that may be bad news for smaller, dustier towns, for the two cities it is excellent news. It means that they can benefit from thousands of new immigrants, the jobs they help create, the university fees they pay, and the money they invest in housing.
The new regional designation could be the factor that helps many students, workers, and investors from China decide to move to these two cities. It won't mean more transactions tomorrow. Over the next 12 to 24 months, however, this change could add several thousand additional sales to the two markets. 
<h2 class="p1">A 10% TO 20% INCREASE IN TRANSACTION VOLUME?</h2>
These following numbers are an example of how it could play out. In Perth last year, there were about 26,000 sales. An additional 3,000 sales in a year would be more than a 10 per cent increase in annual transactions. An extra 10% in transaction volume would help put a floor under prices and help stimulate new construction. 
On the Gold Coast this year, there will probably be about 15,000 transactions. At that pace, an additional 3,000 sales would mean an increase of about 20% in transactions. That would have a similar impact as in Perth. 
The reclassification sounds like bureaucratic mumbo jumbo, but it has real-life impact. It was subject to a lot of behind-the-scenes lobbying and arm-twisting. This change could mean thousands of new residents coming to these cities and buying property, attending university, or starting businesses. It's an economic gold mine for Perth and the Gold Coast.
There will now be a total of 25,000 visas for foreigners willing to live in regional areas. With their new "regional" classification, the Gold Coast and Perth have become (with Adelaide) the locations by far most likely to attract those immigrants. 
The educational institutions, job markets, infrastructure, and lifestyle in the cities makes smaller regional destinations look less appealing by comparison. Regional areas like Dubbo or Geelong have a lot going for them and can provide excellent opportunities to new migrants. But the Gold Coast, Perth, and Adelaide are more prominent and by most calculations offer better prospects.
<h2 class="p1">WHAT DOES IT MEAN FOR INVESTORS?</h2>
The change will also give the Gold Coast and Perth a boost in the battle to displace Melbourne and Sydney as the top destinations for Chinese migrants, students, and property buyers. 
Both cities are struggling to increase the share of foreigners they attract. Their retailers want more residents, their universities want more students, and their developers want more property buyers.
If I were a property investor in the Gold Coast or Perth today, this new development would reassure me. Population growth has been the primary driver of price growth in Australia over the past several decades. With the regional migration program, Perth and the Gold Coast stand to see their population growth increase above present rates. Investors who can ride that growth to profits should do very well.
Georg Chmiel is the chairman of Juwai.com.
 
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jrobinson-rf4aSBido9

Bureaucratic stroke of pen boosts Perth, Gold Coast 

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Whilst some market segments have been a bit erratic throughout 2019, there are still a number of high-end properties that have transacted this year in Gold Coast, according to the latest Herron Todd White (HTW) residential report. 
The report notes Sovereign Islands is a prestige residential locality at the northern end of the Gold Coast.
The collection of man-made islands is home to some of the largest and most prestigious dwellings on the coast.
"20 Parklane Terrace, Sovereign Islands, Paradise Point (pictured above) is no exception and sold in March 2019 for $6.3 million," the valuation firm said. 
Constructed on the property is an ultra-modern five-bedroom, four-bathroom dwelling with an eight car basement garage.
The house is situated on a rare 1,497 square metre, north-west canal facing, double wide allotment boasting a 27-metre water frontage.
The dwelling leverages its expansive water frontage to produce canal views.
Other improvements include a grand entrance with imported white marble staircase, home theatre room, bar room with fireplace, large lap style pool with water feature and spa and 24 metre pontoon jetty.
<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/2019/11/20/22%20parkland%20tce.jpg" alt=""> 
Located in a prime main river front location, <a href="https://www.realestate.com.au/sold/property-house-qld-southport-112738511" target="_blank">1A Yacht Street, Southport </a>(pictured below) sold in June 2019 for $7 million.
The property features a south-east facing, two storey Hamptons style, five-bedroom, four- bathroom dwelling with three-car built-in garage, having a gross floor area of 825 square metre.
The dwelling appreciates expansive views of the Surfers Paradise skyline and the Nerang River.
The property is located within the prestigious TSS (The Southport School) precinct within Southport with a number of tightly held multi-million dollar homes.
Paradise Waters continues to set the benchmark for waterfront housing on the Gold Coast.
<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/2019/11/20/1a%20yacht%20st.jpg" alt=""> 
The report notes one of the highest sales in the area this year was 22 Admiralty Drive (pictured below) which transacted in January for $7,975,000.
Whilst built in 1990, the home was renovated in 2007 and 2008 and comprises a substantial, 665 square metre, modern, five- bedroom, five-bathroom, prestige dwelling with garage area for six cars.
Having a land area of 1,351 square metres and 37 metres of frontage to the Nerang River along the south-eastern boundary, it is afforded good local, wide water and city skyline views.
Other improvements to the property include an indoor lap pool, high quality landscaping, water features, 24-metre pontoon jetty, two timber decks over the river and a boat shed with wet bar.
"This house benefits from an ever-changing view across the water to the Surfers Paradise skyline," the valuation firm commented. 
<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/2019/11/20/24%20admiralty%20drive.jpg" alt=""> 
A north facing, 4,000 square metre Nerang River front allotment at <a href="https://www.realestate.com.au/sold/property-house-qld-carrara-131569930" target="_blank">18 Maryland Avenue, Carrara </a>(pictured below) is under contract for $6.3 million.
It has a Hamptons inspired, modern dwelling with four-bedroom, four- bathroom and six-car accommodation built over two levels with a gross floor area of 863 square metres and a 31-metre frontage to the Nerang River.
The property is located in a sought-after enclave with several multi million dollar homes on similar small acreage riverfront and dry allotments.
"The property is in the process of changing hands and was placed under contract after a very short marketing campaign of just six days!" the valuation firm said. 
<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/2019/11/20/carrara.jpg" alt="">
For Sale
"Hedges Avenue, also known as millionaire’s row is one of the most exclusive residential beach front localities on the Gold Coast with numerous multi- million dollar beachside residences," the valuation firm said. 
<a href="https://www.realestate.com.au/property-house-qld-mermaid+beach-132157742" target="_blank">17 Hedges Avenue, Mermaid Beach </a>(pictured below) is currently listed for sale for $12.5 million.
Situated on a prime, corner block, the six-bedroom, eight-bathroom dwelling spans three storeys with floor to ceiling stack sliding doors to each floor, maximizing its views of the white sandy beaches of the Coast.
"The property offers a rare slice of paradise, being only one of four properties currently listed for sale along millionaire’s row," the valuation firm added. 
<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/2019/11/20/17%20hedges%20avenue%20mermaid%20beach.jpg" alt=""> 
Te Moana at <a href="https://www.realestate.com.au/property-house-qld-broadbeach+waters-131893742" target="_blank">255 Monaco Street, Broadbeach Waters </a>(pictured below) is listed for sale for $13.75 million and occupies a 3,296 square metre north-west facing Nerang River front allotment with 43 metres of prime river frontage.
The house is a classically designed, two level, palatial home of approximately 1,300 square metres with five bedrooms, six bathrooms and six-car garaging.
Monaco Street is one of the premier streets of the Gold Coast with a number of large prestige homes situated within close proximity to the Pacific Fair Shopping Centre, Broadbeach business precinct, Surfers Paradise CBD and the Gold Coast Convention and Exhibition Centre.
Aiming to break all Gold Coast property records, 26 Knightsbridge Parade East on Sovereign Islands has been listed for sale at USD $30 million (or about AUD $44.2 million depending on the exchange rate).
This property is located across five absolute broadwater front lots, with over 4,000 square metres of land area and a true north facing aspect and also has a staggering 106 metres of broadwater frontage.
<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/2019/11/20/255%20monaco%20st.jpg" alt="">
Containing one of the Gold Coast’s largest residences, the dwelling has a total floor area of over 2,700 square metres built in the Tuscan style of architecture and designed by Bayden Goddard (one of the Gold Coast’s sought after architects).
Features to the property include seven bedrooms, nine bathrooms, eight metre ceiling heights, timber parquetry flooring, Turkish travertine feature columns, Turkish bathhouse, 30 metre north facing pool, high quality landscaping and 12 car basement.
"Watch this space as hopefully next year we will be reporting on these properties as record breaking sales," the valuation firm said. 
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Gold Coast's Hedges Avenue sees numerous multi-million dollar transactions: HTW residential 

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McGrath Northern Rivers Group Gold Coast Group have announced that local real estate agent Josh Willatt will join its Palm Beach operation.
He will become joint franchise partner at McGrath Palm Beach along with existing McGrath agents Andy Hogarth and Billy Jaz.
This will be in conjunction with Ian Mills.
David Mills, at McGrath’s Northern Rivers operation expressed excitement for the incoming partners of the business.
"I've worked with Andy, Ian and Billy since McGrath was first opened on the Gold Coast and I'm thrilled for them to continue their career growth as principals.
"They are already senior agents with superior local knowledge and natural leaders within our business, and I look forward to continuing to work with them as they grow their footprint on the Southern Gold Coast,” Mr Mills said.
Andy Hogarth, a McGrath agent of 10 years will assume the role of principal for the McGrath Palm Beach.
He is confident about the local market saying “buyer confidence is back. From the first Saturday following the federal election the conversations with buyers has completely changed. We are now back to receiving multiple offers on properties and buyer engagement has lifted substantially.”
Andy has transacted some good sales over last 18 months, including that of 10 Flores Avenue, Palm Beach selling for $1,105,000 at auction with eight registered bidders. He also negotiated the sale of 59 Tahiti Avenue, Palm Beach for $1,021,000 prior to its auction, as well as several off-market sales that tipped the $1 million barrier.
“The finality of both the election and royal commission are two factors that have positively influenced the marketplace. In addition, the trend of interstate buyers is growing quickly and is supported by all-time low interest rates,” said Billy Jaz, a McGrath agent for over seven years.
Billy sold 266 Nineteenth Avenue, Elanora to a retired Sydney buyer for $1,120,000 which is the top end of the Elanora market in August of this year.
Andy and Billy will be joined by Josh Willatt, who was the top performing agent at Ray White Robina for the past five years. His sales include achieving a street record sale price at 2 Rudd Street, Burleigh Heads for $1,650,000; and most recently 20 Pinnancle Court, Robina for $1,095,000.
“Buyer confidence is at an all-time high across majority of price sectors on the Gold Coast. Downsizers are having the biggest impact on the current market as they gain more confidence that they can again achieve higher prices more aligned to that of 2017-2018," said Mr Willatt.
Mr Willatt also reported that first home buyers are coming back to the marketplace, with the historically low interest rates.
"The increased interest from buyers has seen my average days on market decrease from 51 days pre-election to less than 19 days over the past quarter."
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Josh Willatt joins McGrath Gold Coast Palm Beach partnership  

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The third stage of the Gold Coast's light rail project has been approved after securing extra Federal funding to the tune of $157 million. The total Federal Government contribution to the project will total $269 million with the Queensland Government set to contribute $351 million and the Gold Coast City Council contributing $89 million. From the existing southern terminus at Broadbeach, the Stage 3A extension will utilise the Gold Coast Highway median and include an extra 8 stops along the 7km of new tram track to be built.

Upon completion, Mermaid Beach, Miami and Burleigh Heads will be connected to Broadbeach, Surfers Paradise, Southport, and the tram-train interchange at Helensvale by rail for the first time.

A media release from the Prime Minister and Queensland Premier states that the project will create more than 760 jobs during construction.

The investment in the Gold Coast Light Rail extension project sits beside other initiatives in Queensland including the Federal government contributing $50 billion to the relocation of Loganlea station as well as various road upgrades around the state.

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" scrolling="no" src="https://www.youtube.com/embed/ltnQyCVHu8g" width="100%"></iframe>

There are several projects already in the pipeline along the path of the light rail extension project.

Together Mermaid Beach, Miami and Burleigh Heads have several apartment and townhouse projects either underway or waiting for the go-ahead, including the multi-tower <a href="/new-apartments/2605-gold-coast-highway-mermaid-beach">Elegance project</a> located at the existing Broadbeach South light rail terminus and the <a href="/buildings/sandbar-burleigh-heads-1969-1971-gold-coast-highway-burleigh-heads">Sandbar Burleigh</a> project that is located near the new Christine Avenue stop.

Not to be outdone by other suburbs, the bulk of the Gold Coast's pipeline of higher-density residential and commercial projects are located in the arc spanning Southport, Surfers Paradise and Broadbeach.  

<iframe frameborder="0" height="500" scrolling="no" src="https://www.urban.com.au/developments/miami-qld?embeddable=list-map" width="100%"></iframe>

No specific start dates for the extension project were mentioned in media releases from the various levels of government but funding will flow 'immediately' and local Queensland media are reporting the likely start for the extension will be in 2020 with a 3-year construction timeframe. 

Lead image credit: <a href="https://en.wikipedia.org/wiki/G:link">wikipedia</a>
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