Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

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“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

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Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

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Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

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Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

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Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

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Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

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The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

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The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

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Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

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“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

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Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

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There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

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Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

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The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

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Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Darling Downs

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Larrakeyah, an expansive rural Talgai homestead in Queensland’s Darling Downs region, has been listed for sale.
Located at 111 Donovan Road, the estate is set on 175ha of fertile farmland and includes four Queenslander homes that were transported more than 175 kilometres.
<a href="https://www.realestate.com.au/property-house-qld-talgai-134533358" target="_blank">The 860 sqm Talgai residence</a> includes 23 rooms, five wood-burning fireplaces and a generously proportioned veranda.
Its offerings include seven bedrooms, three bathrooms, views to the Great Diving Range, and rows of garden beds, as well as two kitchens, one domestic and one commercial.
The commercial kitchen includes stainless steel benchtops, three refrigerators, a restaurant-quality gas stove, and a walk-in larder.
Sotheby’s International agent Michael Vettoretto is be marketing the property.
"It has the potential to be anything the owner wants," he said.
The home’s eastern wing has potential to be operated as an Airbnb-styled accommodation with a spacious living room, kitchen, bathroom, two bedrooms and a private entrance.
"The seven bedrooms mean if someone wanted to buy it with the intention of turning it into a unique homestay, they would be able to", Vettoretto said.
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Larrakeyah, luxury rural homestead in Queensland's Darling Downs listed

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Confidence in the Darling Downs region market has been boosted by winter rainfalls, says the latest rural report from valuation firm Herron Todd White.
A good winter crop and strong herd numbers leading into the summer months is expected.
The positive farming conditions follow severe drought in 2018 and 2019 that saw cattle and sheep numbers drop.
HTW director Bradley Neill writes: “2020 has provided far better farming conditions and with that has come strong appetites for rural property.”
According to the report, sale prices continue to exceed pre-sale expectations.
Numerous transactions show significant price premiums over district averages, driven by private farming families and interstate cattle and sheep producers.
The recent sale of a 22,000ha holding in the Adavale Quilpie district shows a 19 per cent increase in value over a 14-month period.
A new benchmark has been set for Brigalow and Belah dryland farming country in the Darling Downs region following the sale of the broadacre farming property, Manus.
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The Manus property.
The land recently changed hands for approximately $10 million, $3,960 per hectare.
The market is favouring sellers at the moment, who are presenting their properties to the market in conditions not seen for a number of years.
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The Darling Downs rural market prices exceed expectations: HTW Rural

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The financial viability and challenging Australian climate have forced some long-standing grazing models to evolve in the Darling Downs region, and, therefore impacted the property market, according to the latest rural report from valuation firm Herron Todd White.
A transition towards trading cattle is expected to allow greater turnover and spreading cash flow, however the report found that the recent spike in cattle prices has created some anxious caution in the market.
“Where we are also seeing some conservative buying despite ability to run higher numbers but in some cases trying to spread risk through providing agistment on surplus country,” the firm said.
The rural market in south-east Queensland is starting to witness a slight increase in the number of listings on the back of much needed rain after prolonged drought.
“We are expecting the strong demand to continue as any potential purchasers prior to the rain would view assets more favourably now that they have the ability to stock,” the firm added. At this stage the continued strong demand will likely create a firming in values in the short term until supply equalises buyer demand particularly for grazing assets.
The broadacre farming market has seen unprecedented level of buyer demand, especially towards the back end of 2019, when the drought was impacting on market confidence and, despite the rain, cash flow won’t exist until crops are harvested.
As we are seeing the country go into lock down due to the Coronavirus, this will have an impact on many business and financial markets. To a large degree, the agricultural sector has been insulated from its effects to date, however the ability to source fertilisers, chemicals, parts, labour etc will likely be affected at some stage.
Further risk will also be created by any uncertainty in the financial markets, which will ultimately have the potential to create low investor confidence.
“On the upside, agricultural investments will likely be viewed more positively by investors seeking tangible assets underpinned by the world still needing to feed itself,” the firm added.
A recent pending sale north-east of Dalby, comprising Bottle Tree softwood scrub merging to Ironbark grazing block was placed under contract following three inspections within the first week of listing and reflected circa $5,100 per hectare excluding structures.
The pending sale reflects the continued strong demand evident in the market for smaller scale assets.
Further west near Roma, the market remains strong with the sale of Iona, a 1,543 hectare holding south of Wallumbilla for $6.4 million ($4,148 per acre) to a neighbour at auction.
The full “Month-in-Review” Herron Todd White report for April can be found <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
Note regarding COVID-19
 
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.
 
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.
 
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Darling Downs region marred by "anxious caution" but slowly gaining ground: HTW rural

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An increase in listings across the western Darling Downs, Maranoa and northern New South Wales regions has been observed over the past two months, according to the June Herron Todd White (HTW) residential report. 
The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. 
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The report notes agents are reporting that sellers are looking to capitalise on the good bodies of feed now on the ground following years of drought.
Strong re-stocker demand continues to support high cattle prices, which are underpinning grazing land values.
"The cattle market remains strong despite the country now haying-off in most areas and should the good rain forecast over the winter fail to eventuate, the body of feed currently available runs the risk of spoiling," the valuation firm said. 
In the Darling Downs region, many farming operators are holding off planting until receiving beneficial rain to provide a full moisture profile.
As supply increases, there is strong potential for a softening in market sentiment as the pool of potential buyers is absorbed, the report noted. 
The impacts of the barley tariffs and Australian meat export restrictions by the Chinese government may reduce buyer confidence, however these effects may take some time to play out.
Some recent listings in south-east and south- west Queensland include:
◗ Telco, Roma (pictured below) -939.5 hectares-to be auctioned 18 June
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/roma%202.jpg" alt="">
◗ Dunkery, Condamine-2944 hectares-to be auctioned 11 June
◗ Spring Grove, Roma-2496 hectares-to be auctioned 2 July
◗ Wattlevale, Moonie-3138 hectares-EOI
◗ Lesdale, Charleville-14,827 hectares-EOI ◗ Murilla, Meandarra-7655 hectares-EOI
◗  Nungil, Charleville-14,524 hectares–to be auctioned 17 June
◗  Tomoo, Mungallala-18,215 hectares-private treaty after being removed from auction terms
◗  Mundibulanga, Drillham-2678 hectares-EOI
◗  New Cashmere, St George-4458 hectares-EOI
◗  Greenoaks, Mitchell-5100 hectares–auction held 22 May
◗  Yambutta, Quilpie-41,083 hectares–to be auctioned 13 July
◗  Whyenbirra, Bollon (pictured below)-14,358 hectares-to be auctioned 18 June
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/bollon.jpg" alt="">
◗  Terrica aggregation, Texas-15,990 hectares-EOI
◗  Kilto, Wandoan-4042 hectares-EOI
Recent sales include:
◗  Cooraki, Surat-2128 hectares-sold $3.85 million ($1809 per hectare)
◗  Glen Lindon, Injune (pictured below)-2627 hectares-sold $3.4 million ($1294 per hectare)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/injune.jpg" alt="">
◗  Oban, Jimbour Plains-377 hectares-sold at auction $4.705 million ($12,599 per hectare)
In summary, the market may be approaching a tipping point where the strong increase in listings may see values stabilise following a period of strong growth, the report noted. 
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Darling Downs rural market approaching the tipping point: HTW rural 

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Market activity in Darling Downs has slowed significantly over the past six to eight weeks as a result of COVID-19, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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The report notes many vendors withdrew their properties from the market during the initial shut down period and many selling agents are now reporting having limited stock on the market.
Selling agents are also reporting that genuine buyers are still active in the market (ie. those who had sold just prior to the COVID-19 shutdowns and need to buy elsewhere or government employees relocating) and cash buyers are beginning to emerge, seeking the opportunity for a good buy.
The restriction on open homes for several weeks resulted in selling agents receiving genuine buyer enquiry rather than sticky-beakers. Open homes have re-commenced in the past week and agents are reporting moderate attendance so far.
In the broader Darling Downs region, property managers are still reporting good demand for rental properties, the report noted. 
There is limited short-term rental accommodation homes in this region and accordingly, it has been somewhat insulated from an influx of short-term letting properties such as those listed on AirBNB coming back on to the long- term rental market.
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"Commentary has been made by both CoreLogic and realestate.com.au representatives regarding the potential for increased demand for properties within a two hour radius of capital cities after COVID-19, due to buyers seeking a lifestyle change to less crowded regional areas and with new work from home routines having been established.
"This applies to many areas within the Darling Downs region and is cause for optimism in our area," the valuation firm said. 
Renovate your way out
There has been a significant growth in property owners undertaking extensive renovation projects in recent years, possibly driven by television shows such as The Block.
In the Darling Downs region, this is particularly evident in the city of Toowoomba, the report suggested. 
"The well regarded and sought after suburb of East Toowoomba has seen a significant amount of home-owner renovations in recent times," the valuation firm said. 
A majority of properties in East Toowoomba are older, character timber dwellings and there has been a noticeable increase in the number of these properties being brought back to life. 
Some note-worthy renovations for this locality have maintained the original cottage style façade but have been extended to the rear with two level, contemporary style additions.
"There have only been a few renovations carried out in this style so far in East Toowoomba and they have generally been completed by owners of local, custom building groups as their own personal residence and then on-sold.
"Therefore, it is difficult to comment on the profitability of carrying out such an extensive renovation. In many cases, this has created a great deal of interest in those particular builders and resulted in additional renovation projects for them to complete for paying customers," the valuation firm said. 
An example provided by the valuation firm is a fully restored and renewed home in East Toowoomba. 
The four bedroom, two bathroom home at 31 Cavell Street (pictured below) was sold for $810,000 in 2019. 
The home comes with tiled bathrooms, covered alfresco area and terrace, private courtyard and rear studio space. 
The original features include high ceilings and black stained timber flooring. 
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Well-renovated character dwellings in East Toowoomba are generally in the $750,000 plus price bracket, depending on the size and features of the dwelling, ancillary improvements such as pools and particularly the land size.
Renovation costs are currently quite high and in many cases, the cost of completing an extensive renovation is not reflected as added value on a dollar for dollar basis, the report noted. 
Nearby suburbs such as Mount Lofty and North Toowoomba are also seeing some renovation of older timber homes, but to a lesser extent than that of East Toowoomba.
"There is significantly less home renovation being carried out in the lower price brackets and in other suburbs across Toowoomba. We also note that there is limited renovation activity in our regional areas such as Warwick, Stanthorpe, Gatton, Kingaroy and Dalby," the valuation firm said. 
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Extensive home renovation projects grow significantly in the Darling Downs region: HTW residential 

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Hot and windy days are compounding the dry conditions in the Darling Downs region, according to the latest Herron Todd White (HTW) rural report.
"In our travels, many landholders frequently ask where the driest part is observed.
"In my opinion, it would have to be in the south-east corner to south of Toowoomba through to Stanthorpe," the valuation firm said. 
Many paddocks that were once grazing now appear as fallow cultivation country due to being eaten out to bare ground.
The report notes a real concern should it rain is the potential impact of significant soil erosion due to very little ground cover - much of the country has turned to a fine powder.
The latest Bureau of Meteorology climate outlook statement for November to January indicated the chance of receiving above median rainfall for the south-east is between 25 and 30% and slightly better moving west where the Balonne Shire is 40 to 50%.
For graziers in the south-east and particularly in the Southern Downs region, where the majority of stock water requirement is provided by surface water only, the outlook is becoming desperate as dams are drying up rapidly.
With the dry seasonal conditions, it is now evident that this is impacting on market confidence with very few transactions of scale in the south-east region.
One sector of the market that has shown improvement in the liquidity is in far western Queensland and primarily those holdings benefiting from either rain or flood waters from February and March events further north.
Market activity in the Paroo, Quilpie and Barcoo Local Shires over the past eight months has increased on the back of improved seasonal conditions.
The purchasers are a combination of local and outer district landholders seeking additional country, but the major market driver is those seeking grass.
"The increase in buyer demand has created a broad firming in value trends over a relatively short period. This trend may consequently soften should further follow-up rain not be received this summer, where any firming in values observed in the short term maybe attributed to those grass purchases," the valuation firm said. 
Some recent transactions in the region include:
◗ Clifton Station, Windorah (pictured below) - a 48,800 hectare holding under contract;
<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/2019/11/13/clifton%20station%201.jpg" alt="">
◗ Canaway Downs, Eromanga (pictured below) - a 93,316 hectare holding selling for $8.137 million in May;
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◗ Coniston, Windorah (pictured below) - a 28,500 hectare holding under contract;
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◗ Retreat, Windorah - a142,601 hectare holding reportedly sold for $20 million including stock and equipment.
"We are also aware of a pending sale in the Cunnamulla region that will show the continuing strengthening for river frontage country, with further details to be provided when publicly available," the valuation firm said. 
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Dry seasonal conditions impacting market confidence in Darling Downs: HTW rural  

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Investors in the Darling Downs have generally been attracted to low-maintenance properties such as new or near new four-bedroom, two-bathroom, two-car detached dwellings, two-bedroom units and six-bed, four-bath duplex pairs, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report notes the majority of the Toowoomba investor market tends to operate in the sub-$400,000 segment for dwellings, sub-$300,000 for units and sub- $550,000 for duplex pairs. 
"It’s unclear whether investors are favouring strategies to seek higher yields or focusing on capital gains," the valuation firm said. 
With a slow-moving market at present, investors are possibly seeking a blend of the two strategies.
Some of the western suburbs such as Glenvale, Cotswold Hills and Cranley, and outer lying satellite suburbs including Wyreema and Cambooya have tended to be hot spots for investor activity over recent years.
This is most likely a result of englobo land availability, with the established suburbs unable to accommodate new development.
The report notes yields in these newly developed areas are moderately attractive to investors at circa 4% to 5% for houses and 5% to 6% for units and duplex pairs, however these returns may come at the expense of capital growth.
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Buyers seeking to invest in the Toowoomba area could consider purchasing in older suburbs close to the CBD such as Centenary Heights, Darling Heights, Kearneys Spring, Newtown, North and South Toowoomba. 
These areas still generate acceptable yields and arguably have greater potential for capital growth due to their proximity to the CBD and services.
 A recent trend within the established suburbs in areas close to boarding schools, hospitals or the CBD is short term letting utilising platforms such as Airbnb and Booking.com. 
"We have witnessed yields up to and exceeding 10% in select cases, however this comes with intensive management, including managing bookings, financial management and very regular and intensive cleaning," the valuation firm said. 
The smaller towns throughout the broader Darling Downs region can show higher yields anywhere from 5% to 10%. 
Once again, these higher returns come with a higher degree of capital growth risk.
"Investor interest in Toowoomba and surrounding areas has significantly slowed over the past two years resulting in a reduction in sale volumes, however vacancy rates have declined to sub-2% and rental rates have shown moderate growth. This may lead to an increase in investor activity throughout the Toowoomba region." 
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Darling Downs/Toowoomba investors attracted to low-maintenance properties: HTW residential 

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The Federal Government’s proposed buy back of underground water within the Upper Condamine Alluviums may now result in the creation of a new peak in the cycle of the market, according to the latest Herron Todd White (HTW) rural report. 
Owners of groundwater now have the opportunity to sell part of their entitlements back to the Government under the “Restoring the Balance in the Murray-Darling basin” program. This is ground water that they have not historically been able to access and are unlikely to ever be able to access going forward. The end result will be a win for the farmers and this will create three options for them:
• Payback Debt;
• Further develop existing on farm infrastructure; or
• Further capital acquisitions.
The Government Proposal
Under the “Restoring the Balance in the Murray- Darling Basin Purchasing Program”, the Australian Government has committed $3.1 billion to purchase water for environmental purposes. This program is part of the Sustainable Rural Water Use and Infrastructure Program. On 2 June 2014, the Australian Government released the Water Recovery Strategy for the Murray-Darling Basin. The strategy outlines the Government’s approach to recovering water for the environment in the Murray-Darling Basin, whilst maximising positive outcomes for farmers and communities. This includes prioritising water recovery through infrastructure investment over water purchasing which is limited to 1,500Gl.
It is quite obvious that to date the Government’s approach was not working and a new way had to be tried as less than 8% of the target SDL has been achieved with the majority of this coming from the Central Condamine Alluvium.
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Further Initiations
On 19 April 2018, the Federal Government subsequently opened a new tender round to voluntarily acquire groundwater back from farmers within the Upper Condamine Alluviums. They subsequently undertook a new approach by announcing the maximum price at which they are prepared to acquire water. This differs from previous tenders whereby no such price announcements were made.
If we look at the Central Condamine Alluvium (CCA) which involves the bulk of the water buy back volumes (currently 86,066Ml of Nominal Entitlement which will be reduced to a maximum of 37,409Ml or 43.5% of the current nominal volume), we understand that all licence holders will be initially geared down to the equivalent of 50% of their Nominal Allocations with that then reduced by a further 13% in order to achieve the target of 37,409Ml.
Within the CCA, there are multiple sub areas and currently the long term average Announced Allocations of the respective Nominal Allocations are included here.
This will ultimately mean therefore that all holders of groundwater licences within the CCA (apart from those within Sub Area 2 (3) and Transitional Zone 3 (3) which are already on 50% restrictions) will potentially lose a further 20% of their allocations over time so as to allow the government to meet its target.
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Variation to Previous Tenders
However this tender now appears to differ from previous tenders or individual private sales of groundwater in that the Federal Government will effectively buy the unusable portion of a right.
For example, if we assume that a groundwater licence holder within Sub Area 2 (3) had a nominal allocation of 1,000Ml, historically they have only been able to access 50% of this right. If they decided to sell a 50% share, they would be left with 500Ml, but would still only be able to access 50% of that remaining right or 250Ml going forward.
Now, subsequent to the announcement of this tender, it appears the farmer will be able to utilise the full 100% of the remaining 500Ml and will receive a maximum price of $1,950 per Ml for the 500Ml they sell to the Federal Government. Their position going forward will remain unchanged in that they will continue to gain access to 500Ml of groundwater per annum but will potentially have a one off windfall of $975,000 (500Ml @ $1,950/Ml).
In relation to the other sub areas however, where announced allocations are higher than 50%, the position will be slightly different. For example, within Sub Area 2 with an announced allocation of 70%, a farmer with a nominal allocation of 1,000Ml has historically been able to access 700Ml only. Previously if they sold 50% of that right, they would only continue to be able to access up to 70% of the remaining 500Ml or 350Ml.
Now if they sold 50% of their right, they will be paid $2,000Ml for the 500Ml, but the net effect of the sale will see their water right reduce from 700Ml to 500Ml, a loss of 200Ml which they can no longer access going forward. They will still have a one off windfall, but not to the same extent.
The end result will be that over the next period as this voluntary tender progresses, many farmers will receive a one off cash injection if they decide to sell part of their rights to the Federal Government. This will provide a cash injection into the market which could see the market continue on its upward projection somewhat longer than it may have otherwise done.
Peak of the Market
In summary, we have seen exceptional growth in the value of quality farming country over the past two years or so on both the Bongeen and Jimbour Plains. Now whilst there is a level of discussion within the market place broadly that we may be approaching the peak of this market cycle, it is perhaps too early to call this within this location. Given the nature of the underlying lands, the fact that “they just don’t make this country anymore” and the potential for the Federal Government to inject a one off financial boost into the local market through the buyback of groundwater, there still may be further potential for growth to occur within this particular market sector, notwithstanding the current dry conditions and the poor winter crop outlook.
A recent sale is a Rosenthal Heights lifestyle block which was traded for $960,000 (pictured below).
Located just 7.5 kilometres from Warwick's CBD, <a href="https://www.realestate.com.au/sold/property-lifestyle-qld-rosenthal+heights-7884590" target="_blank">184 Warner Street </a>is elevated slopping land with views.
The home features four bedrooms, lounge, dining and family room, kitchen and plenty of storage space. 
It is operating piggery with a contract at $5,543 plus GST per month.
<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/2018/7/12/rosenthal%20heights%202.jpg" alt="">
Another example is a Clifton property, Avonlea, which was sold for $650,000 (pictured below).
It was formerly a horse stud and spelling farm on the doorstep of the renowned Pilton Valley.
<a href="https://www.realestate.com.au/sold/property-lifestyle-qld-clifton-7943370" target="_blank">Located at 4843 Clifton Gatton Road</a>, it comprises of 100 acres of well established thriving natural pastures and 30 acres under cultivation. 
Other features include three bay hay sheds, machinery shed, large day yards, and water supply to all paddocks except cultivation.  
<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/2018/7/12/clifton%20.jpg" alt=""> 
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Government proposal may trigger new peak in Darling Downs rural property: HTW

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Glenbank, a 236-hectare property on Darling Downs has sold for $2.52 million to a local businessman, equating to about $10,640 per hectare.
The prior nearest price for similar size and quality property in the Brookstead area was about $9880 per hectare, Ray White noted.
Ray White Rural Pittsworth's James Croft said there was "exceptional competition" <a href="https://www.realestate.com.au/sold/property-mixed+farming-qld-brookstead-7963674" target="_blank">at the auction</a> after 20 inquiries, 12 inspections and 11 registered bidders.
"The bidding was frenzied," Croft told Fairfax Media.
It was fuelled by commodity prices with sorghum at $400 a tonne and cotton at $600 a bale.
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Glenbank on the Darling Downs sells for $2.52 million

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Southern Queensland's Darling Downs region has seen an increase in auction listings in late June to mid July following the winter plantings, according to analyst firm Herron Todd White.
HTW said due to the local region now entering the mid-season selling period a lull in the market will pop up albeit normally on a temporary basis.
"Given this, we do note that there has been an increase in listings in the region, with some set down for auction in late June to mid-July after winter plantings have occurred," HTW said.
"It will only be at that point that we will really be able to determine if the broader market has the appetite for further investment going forward.
"Testing this appetite, within the highly regarded salad bowl region to the south east of Cunnamulla, we note that the holdings of Clover Downs (125,288 hectares) and Noorama (105,000 hectares) together with an aggregation of another eight holdings comprising a total area of 127,192 hectares have all recently come onto the market under expressions of interest campaigns.
"All three are managed by different agencies and it will be interesting to see the individual (or collective) approaches taken by those relevant agencies in order to achieve a sale within a reasonable period of time.
"Together with a further two nearby smaller holdings (Camden comprising 32,448 hectares adjoining Clover Downs and Robina Downs to the south comprising 13,780 hectares) the total amount of country now on the market in the region is in excess of 400,000 hectares or one million acres.
"There is the potential that a new corporate could see an opportunity to secure a large chunk of some of the best country in the region. Whether there is the appetite for such an approach is yet to be seen.
"The wool industry has remained quite resilient, however offsetting this is the ongoing problem of kangaroo and wild dog build ups.
"As valuers, we always refer to the depth of the market and the impacts on the value of a particular holding or group of holdings within a region.
"The scenario that has now emerged involving such a volume of country in a relatively small geographical region will surely test that aspect.
"A large number of holdings on the market in a de ned region would normally be expected to raise concerns around industry issues and why there is such an exodus from the region. However two of the major holdings are owned by corporates that for varying reasons have decided to sell their holdings and given this is pure coincidence, we have perhaps witnessed the development of the perfect storm."
A 3349ha Freehold property at nearby Roma, 1444 Glen Arden Road, (above) recently sold, price undisclosed. It features two 4 bedroom homesteads with sheds, workshops and silos as well as bores and dams.
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