Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Joel Robinson

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Gladstone

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The retail markets in Rockhampton and Gladstone have been similar in their evolution over the years, from their original beginnings in the heart of their respective CBDs, according to the latest Herron Todd White (HTW) commercial report.
The valuation firm took a look at the changing faces in the retail sector across the nation. 
The report suggested whilst retailers continue to occupy these traditional areas, the changing demands of retailers and shoppers, the lack of parking, supply, and general retail economic conditions have resulted in ongoing vacancies within these precincts (East Street and Goondoon Street precincts).
Most tenants within these precincts are now generally local retailers and food outlets supporting the commercial businesses in the area. Rentals within this precinct are substantially less than those within shopping centres and the area therefore attracts new retail and commercial businesses that are sensitive to the affordability of the rental.
The HTW valuers note: "There are a handful of neighbourhood shopping centres that have evolved from the more traditional convenience centres. Convenience centres were typically anchored by a small grocer and supported by other convenience tenants such as butchers, bakeries, fish and chip shops, post offices etc.
"The changing way people now shop, including the introduction of online grocery shopping, and the emergence of the larger players in the local markets has resulted in a number of changes including a shift towards larger neighbourhood shopping centres generally anchored by an IGA, Coles or Woolworths supermarket.
"This has resulted in increased vacancies and issues with rental affordability within the smaller traditional convenience centres. We consider that the retail space will continue to evolve with new challenges created by technology."
As rental levels and affordability have become a critical factor for local retailers and smaller convenience grocers have made way for larger neighbourhood supermarkets, it has also seen a shift in the profile of tenant that retail centres appear to be trying to attract.
In many centres, there has been a slow shift from traditional retail outlets to medical and health focused tenants, who typically can afford the higher rentals that these centres demand.
In terms of what tenants are looking for now as opposed to 10 years ago, some of the most notable items are good exposure, good on-site car parking, disability access and single level tenancies. It is becoming increasingly difficult to lease retail tenancies that have no parking or are in double storey walk up buildings.
"We have seen a softening of rentals in recent years and an increase in incentives required, seen to a greater extent in Gladstone than in Rockhampton as a result of the local market conditions," the valuer noted.
"We consider that these have now stabilised to a new norm, however for tenancies in secondary locations or with poor presentation, leasing is difficult and extended periods of vacancy are being seen." 
A Rockhampton City retail property has been listed for lease with the price of $25,00 per annum (pictured above)
Located at <a href="https://www.realcommercial.com.au/property-retail-qld-rockhampton+city-502968730" target="_blank">300 Bolsover Street</a>, the 210 square metre property consists 60 square metre of cafe, 150 square metre of storage and car park.
Other features include refrigerator display cabinet, stainless steal and cold room.
<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/2018/10/4/berserker.jpg" alt="">
Another Rockhampton site is now on the market with the sale price of $780,000 (pictured above).
The site situated at <a href="https://www.realcommercial.com.au/property-retail-qld-berserker-502718514" target="_blank">59-61 High Street, Berserker</a> consists of two lots including one with a 653 square metre block of three shops and the other 645 square metre vacant one for lease. 
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j.ballantyne1990-6AQqhLzZaK

Ongoing vacancies in the Rockhampton and Gladstone retail markets: HTW

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A unit by the coast in regional Queensland has been recently sold for $57,000 by Derran Corke from Ray White Gladstone. 
The two-bedder at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+gladstone-127535546">1/21 Charles St</a>, West Gladstone ranked the cheapest residential sale across Queensland for the week.
Back in 1989 the same unit sold for $54,959, and in 1992 it was sold again for $50,000 according to data from CoreLogic.
<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/2018/5/25/gladstone%202.jpg" alt="">
It comes with two bedrooms, combined lounge/living, and carport to the rear of the complex. 
The bathroom needs renovating with room to improve.
The unit block was built in the '70s, and although it is showing its age it has all the essentials, is close to KFC, Aldi and Gladstone West State School.
The real estate market has had a tough couple of years in Gladstone, with high vacancy rates (though they are <a href="https://www.gladstoneobserver.com.au/news/gladstone-rental-vacancy-rates-at-lowest-point-in-/3394084/" target="_blank">on their way down</a>) and falling prices.
In the suburb of South Gladstone median house prices have dropped by 29.7 per cent over the last three years, and in West Gladstone the drop has been even harder at 42.9 per cent.
Valuers HTW noted 2017 was the most positive seen our market perform in nearly five years.
"Most property sectors have now bottomed out and stabilised and we have even seen some evidence of an increase in values," it noted recently.
It suggested sales activity has been strong with buyers very aware of the great affordability the region represents.
"Affordability is currently the driving force for the Gladstone region market. 
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"Good quality existing stock is attracting multiple offers and significantly reduced days on the market." 
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<div class="column">
This has also led to an increase in new construction activity.
The valuers noted owners and upgraders are opting to build their forever home due to record low land values. 
Mortgagee in possession sales appear to comprise about 30% of all sales and while the number of repossessions has not declined, most stock appears to sell in a reasonable time frame providing they are priced appropriately. 
 
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$57,000 West Gladstone unit sale shows little price growth

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The turbulent Gladstone residential market has been tracking upwards, according to the June report from valuation firm Herron Todd White.
At the beginning of 2018, many positive statements were made about what was happening in the Gladstone market; statements such as increased sales volumes; declining vacancy rates; reduced days on the market; multiple offers being made; and an increasing trend in new dwelling construction.
"Now at the midpoint of the year, there is some solid evidence that these statements were not just speculation with some recent transactions have shown the slight increase in capital values that the market is showing", the report suggests.
A 3-bedroom, 2-bathroom townhouse in Telina sold in April 2017 for $176,000. It resold in March 2018 for $185,000 representing an approximate 5% increase in value.
1990s 3-bedroom, 1-bathroom brick dwelling in Telina sold in January 2017 for $226,500. It resold in May 2018 for $259,000 representing an approximate 14% increase.
"Not to suggest the entire market has magically risen 5% to 15% over the past six months however be aware that times are changing and market sentiment is definitely trending upwards", the report noted.
"There has been a minor shift in values with many price points now pushing the boundaries of the value levels of six to 12 months ago."
Other indicators include the vacancy rate which currently sits at 3.7%, which has been slowly trending downward from 4.7% in January 2018.
The latest quarterly data shows that the median rent for a 4-bedroom house ($260 per week) has increased by 8% from the same period 12 months ago.
"2-bedroom units have also tracked upward by $10 to a median of $150 per week over the same time period."
"After an upward trend in new construction activity throughout the first half of 2018, new construction now appears to be slowing, but positively so as there is a general lack of land available in Gladstone but seemingly good demand", this report suggests.
The HTW valuers forecast that the value of land will trend upwards and some larger developers will start to release lots in estates that have typically been in a holding pattern over the past several years.
There has been a sharp decline in the number of mortgagee in possession transactions and it is the expectation that the market will continue to improve throughout 2018 on the back of continued affordability in the region.
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Gladstone residential market has been tracking upwards: HTW 

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Gladstone's housing market is starting to recover, according to valuation firm Herron Todd White (HTW).
They say the prestige market sector in Gladstone is very thinly traded.
At the end of 2018 Herron Todd White said the landscape of the Gladstone property market has changed dramatically in five short years.
During the boom, the market was dominated by investors trying to cash in on the hype that surrounded Gladstone, it advised.
"Value levels and rents were the highest Gladstone had ever seen, vacancy rates were essentially 0%, motels were running at 150% occupancy," the report said.
"Fast forward five years and the property market could not be more different!"
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/14/HTW_MAY_CLOCK_HOUSES.jpg" target="_blank">to enlarge.</a>
<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/2018/5/14/HTW_MAY_CLOCK_HOUSES.jpg" alt="">
HTW suggest you would be hard pressed to find a property owner who has not suffered some sort of loss in the past few years.
"On the other hand, the buyer’s market we currently find ourselves in has attracted many different types of home owners to the market," it said.
"The affordability of property in Gladstone has turned us from one of the most expensive places to live in the state to one of the cheapest.
"Value levels have not been this low for nearly two decades.
"We have seen a large contingent of first home owners enter the market."
First home buyers appear more active in the sub $400,000 market for both existing and newly constructed homes, however if purchasing existing homes they are generally looking to buy at a lower price point, it said.
Herron Todd White consider that the prestige sector starts at around the $700,000 mark.
There has been only one sale above this mark in the past six months—a dwelling in an established area of New Auckland <a href="https://www.realestate.com.au/sold/property-house-qld-new+auckland-125486558" target="_blank">sold for $720,000 in January</a> (top and below).
<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/2018/5/15/gladstone2.jpg" alt="">
The five bedroom home has three bathrooms and a swimming pool.
Prior to this, there were several large rural residential properties that sold in 2016 for above $850,000.
The last million dollar plus home sold in Gladstone in 2015.
Just like the rest of the market, the prestige sector has seen sharp declines in value over the past several years. Most buyers in this sector are locals who are upgrading.
Rents in the area are also low, according to Investar, the property investment insights company.
Half-way through last year Investar pegged the median rent price at West Gladstone at <a href="https://propertyobserver.com.au/finding/residential-investment/suburb-spotlights/73296-ytc-july-2017-west-gladstone-units-rentable-for-130-per-week-investar" target="_blank">$130 a week, the cheapest in Queensland.</a>
Analysis from CoreLogic's head of research Cameron Kusher found Gladstone prices had well and truly bottomed over the last few years.
He found that with 578 sales over the 12 month period from May 2016 saw 578 sales at a median price of $323,875 in Gladstone.
Those sales volumes are 68 percent lower than their July 2007 peak, while median prices are 32 percent low than their September 2012 peak.
 
 
 
 
 
 
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jrobinson-rf4aSBido9

Gladstone's housing market in recovery

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Queensland's Gladstone has the cheapest property rentals of the country.
CoreLogic calculated Barney Point has the cheapest house median rental and South Gladstone has the cheapest when it comes to units.
There is a three bedroom Barney Point cottage at 8 Callide Crescent <a href="https://www.realestate.com.au/property-house-qld-barney+point-415504567" target="_blank">available at $170 a week</a> (above).
Blackall, Clinton, Calliope and West Gladstone are also on the national top 10 list for 2017.
 
Houses                    Median Value Median Rent
Qld Barney Point Gladstone $186,162 $150             
Qld Blackall Blackall Tambo $175,361 $150             
Tas Zeehan West Coast $96,377 $150                     
Tas Rosebery West Coast $91,907 $160                  
Tas Queenstown West Coast $93,707 $160               
Vic Ouyen Mildura $124,315 $160                            
WA Kambalda East Coolgardie $90,978 $160             
SA Peterborough Peterborough $109,475 $165          
SA Coober Pedy Unincorporated SA $130,463 $170     
Qld Dysart Isaac $98,187 $170                                  
 
Units 
Qld South Gladstone Gladstone $120,964 $120
Qld Clinton Gladstone $241,178 $120
SA Whyalla Stuart Whyalla $146,462 $135
SA Millicent Wattle Range $172,655 $143
SA Whyalla Norrie Whyalla $158,967 $150
Qld Tannum Sands Gladstone $184,350 $150
Qld Calliope Gladstone $174,677 $150
Qld West Gladstone Gladstone $170,353 $150
Qld Barney Point Gladstone $135,473 $150
SA Whyalla Whyalla $166,005 $153
 
 
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Queensland's Gladstone has Austraia's lowest median rentals

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A home in Kirkwood, south of Gladstone, has been sold for $255,000.
Built in 2011, the home at <a href="https://www.realestate.com.au/sold/property-house-qld-kirkwood-126594606" target="_blank">38 Liriope Drive</a> has 213 square metres under roof living space and is set on a 575 square metre elevated hillside allotment.
It last traded for $175,000 in 2010 before its build.
The rendered brick home has four bedrooms, two bathroom, two living areas and outdoors patios.
Raine &amp; Horne Gladstone agent Ros Newberry sold the home after having a price guide of $270,000.
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 Home south of Gladstone sold by mortgagee for $255,000

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The landscape of the Gladstone property market in Queensland has changed dramatically in five short years, the valuation firm Herron Todd White (HTW) said in a recent report.
During the boom, the market was dominated by investors trying to cash in on the hype that surrounded Gladstone, it advised.
"Value levels and rents were the highest Gladstone had ever seen, vacancy rates were essentially 0%, motels were running at 150% occupancy," the report said.
"Fast forward five years and the property market could not be more different!"
HTW suggest you would be hard pressed to find a property owner who has not suffered some sort of loss in the past few years.
"On the other hand, the buyer’s market we currently find ourselves in has attracted many different types of home owners to the market," it said.
"The affordability of property in Gladstone has turned us from one of the most expensive places to live in the state to one of the cheapest.
"Value levels have not been this low for nearly two decades.
"We have seen a large contingent of first home owners enter the market."
First home buyers appear more active in the sub $400,000 market for both existing and newly constructed homes, however if purchasing existing homes they are generally looking to buy at a lower price point, it said.
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-south+gladstone-126628662" target="_blank">9 Eden Street, South Gladstone</a> (picture above), close to the Gladstone CBD, recently sold for $230,000. It sold in 2010 at $385,000.
In another sale, a five-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-west+gladstone-126788558" target="_blank">16 Norris Street, West Gladstone</a> recently sold for $197,500. The price point meant that it was well suited to first home buyers.
It last sold for $348,000 in 2010. It's price was just above its 2004 sale at $195,000.
<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/2017/11/22/Gladstone2.jpg" alt="">
It noted upgraders are also taking advantage of the current affordability with buyers typically looking for detached housing with space for the children, both internally and externally.
"Proximity to infrastructure such as schools and shopping play an important role in these buyers’ decisions," the HTW report advised. 
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Gladstone now one of the cheapest locations in Queensland: HTW

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The Gladstone residential market is beginning to drift to the bottom of the property cycle, according to Herron Todd White’s latest May report.
The property valuation firm says that the main driver for this area at the moment is affordability.
“The market appears to be drifting along the bottom of the property cycle at present.
“The key driver at the moment is affordability.
“Value levels for all property types are the lowest they have been in over a decade and this has resulted in significantly increased activity.
“In the past, Gladstone’s property market has always been driven by major industrial projects in the area, resulting in demand or lack thereof for accommodation for workers.
“While there have been a few possibilities of new projects thrown into the ring over the past several months, nothing has been set in stone,” the report stated.
Herron Todd White says that the last few months have seen a shortage of good quality residential stock in the area.
“The market has seen a changing of the guard in the past few months with increased confidence surrounding the economy and jobs.
“Much of the activity in the last few months has been in the bottom price sectors of the market which has now led to a shortage of good quality stock.
“Signs the market is beginning to move forward include decreasing vacancy rates and decreasing days on the market.
“Because of this increased demand we may start to see a slight uplift in values in the coming months.
“The market should continue to improve on the back of increasing business confidence and more job opportunities,” the report commented.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-gladstone+central-125324346" target="_blank">95 Central Lane</a>, Gladstone Central (above) has been listed for $289,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-calliope-124945218" target="_blank">7 Trudy Avenue</a>, Calliope (below) has been listed for $275,000.
<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/2017/05/19/7%20Trudy%20Avenue.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-barney+point-119213067" target="_blank">1/47 O’Connell Street</a>, Barney Point (below) was recently sold for $136,000.
<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/2017/05/19/1_47%20OConnell%20Street.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-beecher-124130078" target="_blank">1 Monaros Court</a>, Beecher (below) was recently sold in April for $554,000.
<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/2017/05/19/1%20Monaros%20Court.jpg" alt="">
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Gladstone residential market drifts at the bottom of property price cycle: HTW

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The Gladstone median house price fell 3.2 percent this quarter, to $290,000 and over the past 12 months, the market has lost 10.7 percent, according to REIQ's latest report. 
The unit market fell 20.3 percent, to $185,000.
"This market continues to feel the impact of the resources downturn and news last week that the Boyne Island smelter was scaling back production levels," the REIQ noted.
It also reduced its staff by up to 100 workers due to soaring electricity costs, which will only add to market pressures.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-gladstone+central-123190150" target="_blank">10 Herbert Street</a>, Gladstone Central (above) was sold for $284,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-gladstone+central-122022606" target="_blank">6 Oaka Lane</a>, Gladstone Central (below) was sold for $265,000.
<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/2017/03/16/6%20Oaka%20Lane.jpg" alt="">
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Gladstone house market down by 10 percent annually: REIQ

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Back in 2011 Gladstone property was all the rage.
Unfortunately the predicted housing boom was based upon temporary factors, including a resources construction boom which finally an almighty peak in Queensland in the first quarter of 2013. 
As construction turned to production, the housing boom turned to dust, despite unfounded claims that the new residential development could never lead to oversupply.
Over the last three years alone asking rents for houses have collapsed by 46 percent. 
Units have fared even worse with asking rents down by 56 percent (for landlords lucky enough to find a tenant). 
<a href="https://www.propertyobserver.com.au/images/2017/03/21/ENG.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/21/ENG.jpg" alt=""> 
Source: SQM Research
Dwelling prices have followed a similar pattern, albeit in a marginally less painful trajectory, with unit prices down by 40 per cent over the past three years. 
It looks as though the market may finally be set to move into equilibrium as the glut of supply is absorbed and the LNG export boom ramps up. 
Vacancy rates in Gladstone have now been falling for 9 months, while rents and prices seem to be consolidating or forming some kind of bottom. 
<a href="https://www.propertyobserver.com.au/images/2017/03/21/G2.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/21/G2.jpg" alt="">
Source: SQM Research
It's all too little and too late for those that bought off the plan at the heady market peak, but it looks likely that the worst is over for now. 
Even engineering construction activity began rising again in Queensland from the first quarter of calendar year 2016, but this time around resources projects have not been the driver, although the Adani project is still potentially lurking in the wings. 
<a href="https://www.propertyobserver.com.au/images/2017/03/21/G1.jpg" target="_blank">Click to enlarge</a>
<a href="https://www.propertyobserver.com.au/images/2017/03/21/G1.jpg" target="_blank"><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/2017/03/21/G1.jpg" alt=""></a>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
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