<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Herron Todd White

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Wollongong’s industrial sector looked set to continue years of buoyant conditions prior to the coronavirus wreaking havoc on the local economy, according to the latest report from valuation firm Herron Todd White.
“Obviously all bets are off at the moment with the market broadly in a freeze as investors, owner-occupiers, developers and tenants for the most part adopt a wait and see approach, needing comfort on the long term economic impact prior to making a buying or leasing decision in this current uncertain environment,” the firm said in their April Month-in-Review.
“Each transaction that takes place during this period needs to be scrutinised heavily as motivations of the participants involved will fluctuate quite significantly. This is not a normal market.”
The firm said they were aware of an industrial property owner very close to retirement who was happy to sell at a circa 10 to15 percent discount on what was fair market value as the risk of holding and waiting for the situation to settle was not worth it for them.
“The purchaser was very happy to acquire at this discount, believing values will return to pre-Coronavirus levels in two to three years time, if not sooner.”
The Commonwealth has released a mandatory code of conduct for commercial tenants with an annual turnover up to $50 million, providing a guideline for those impacted by a downturn in trading.
The report concluded that, despite recent downturn, the medium to long term outlook for the Illawarra industrial sector remains strong.
“The region may well benefit from a lower Australian dollar, repatriation of offshore manufacturing facilities and construction of warehouse facilities to ensure adequate levels of stock are held as insurance for potential future disruptions to the global supply chain.”
The area’s biggest asset as an industrial market are its “proximity to Sydney; construction of the second airport in Western Sydney; expanding Port of Port Kembla; and state government investment in infrastructure, with more likely to follow as part of Commonwealth and state government stimulus measures.”
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How Wollongong’s commercial market has fared during the coronavirus pandemic: HTW

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The current Coronavirus pandemic is anticipated to have a substantial and lasting impact on Sydney's commercial property market, according to the latest report from valuation firm Herron Todd White.
The firm found that, while the precise impact on the industrial market was hard to gauge at this time, many businesses were struggling to sustain themselves and pay rent.
“On the other hand, freight and logistics businesses are seeing huge demand, with many currently thriving,” the April Month-in-Review report added.
“The logistics market was already in high demand prior to the current Coronavirus pandemic, driven by a lack of supply and increases in demand.”
“We expect the logistics market to continue to perform well, particularly later in 2020 and early 2021. Our general view is that industrial assets have been fairly stable in recent years, both locally and globally, and we do not expect that sentiment to change significantly despite the economic conditions.”
The firm anticipated that industrial assets will hold or, should there be a broader decline, sustain their value better than other asset classes.
“Well-positioned, investment-grade assets such as high quality logistics premises are likely to continue to perform well relative to other sectors of the market, although we caution that we do expect there to be fewer buyers.”
The report also found that there was growing optimism about the future of local manufacturing, which is anticipated to result in an increase in demand for factory premises.
There has been significantly increased discussion throughout this Coronavirus pandemic about Australia’s reliance on international manufacturing and the fragile nature of an economy so reliant on external input.
Local manufacturing is therefore tipped to see significant growth in the wake of the pandemic as Australians’ demand for local products increases.
The primary market concern posed by the report was that “mum and dad investors” and small business are facing existential economic challenges.
“We anticipate that this sector of the market may experience some decline in values over the coming months as a result of decreased demand and a reduction in rental returns.”
“We also consider it likely that the closure of restaurants, pubs and other food related businesses will continue to have an effect on the industrial market, particularly for food and beverage warehousing and distribution.”
“Across the industrial market, we have seen many marketing campaigns withdrawn, with vendors opting to wait out the current crisis. This trend is likely to continue until confidence returns to the market.”
“Like most commercial assets in Sydney, we have concern about the ability of some tenants to make their rental payments in full and the general lack of demand for rental properties. We anticipate that it will be some time before this returns to normal and we expect to see longer than usual lease up periods.”
The firm concluded that there were both opportunities and challenges arising out of the new economic situation, however suggested that it is too early to anticipate the depth or breadth of the impact to the industrial market across Sydney.
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How Sydney’s commercial market has fared during the coronavirus pandemic: HTW 

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The Brisbane industrial property market started 2020 with a bright outlook as the favoured commercial asset class however the COVID19 pandemic has upended all previous predictions, according to the latest report from valuation firm Herron Todd White.
“Over the past two years, the industrial market experienced firming yields across prime assets supported by solid purchaser demand and the low interest rate environment, however with the outbreak of Coronavirus, the global economy is in uncertain times and there are likely to be significant impacts on the Australian property market,” said the firm in their April Month-in-Review report.
Discussions with leading industrial agents suggests that sales activity has slowed significantly, with some reporting all of their current stock being removed from the market and existing leasing negotiations being deferred for three months or ceasing all together.
Of the properties that have remained on the market, the report says that weaker buyer demand and extended selling periods have set in with some vendors even accepting softer than expected yields to incentivise would-be purchasers back to the discussion table.
The firm found that increased incentives are being offered in the form of rent free periods, however this does not yet appear to be having a noticeable affect on the drop off in transactions.
“As with the pre Coronavirus climate, the most active segment of the market will continue to be transport and logistics with tenants gravitating towards modern properties with good access to motorways,” the report found.
“The full effects of this global pandemic are still somewhat unknown, but despite this, the fundamentals that positioned the Brisbane industrial market for a strong 2020 are still there, albeit in the background.”
“Once we can all return to a somewhat normal environment, the Brisbane industrial market will no doubt be appealing based on those underlying factors of a low interest rate environment, lack of supply of quality, investment grade assets and the availability of capital,” the report concluded.
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How Brisbane’s commercial market has fared during the coronavirus pandemic: HTW

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Property values in the Mildura region are remaining relatively steady, with the agricultural sector appearing mostly insulated from the contemporary economic downturn, according to the latest rural report from valuation firm Herron Todd White.
“The huge amount of uncertainty resulting from the outbreak is still likely to stall some property sale negotiations, however the fundamentals for food production remain sound and we expect that sales will eventually resume and that the impact on values will be less than for other property sectors,” the report found.
The 15 percent slide in the exchange rate, to current levels of around US $0.57, is expected to help maintain export returns for the local horticultural economy, despite predictions that there may be issues around accessing key markets.
“We note that domestic market prices have risen in some cases due to concerns about shortages of supply,” the firm continued.
“An issue for some of our labour intensive industries (think manual harvest of table grapes and citrus) will be the availability of casual labour.”
Many growers in the region rely on sourcing itinerant workers from the Pacific region or south-east Asian countries, and this will be reduced due to the pandemic.
The report found that the regional almond industry will face challenges as a result of the destruction of a huge number of bee hives during the summer fires.
“Almonds rely on bees for pollination and the simple economic theory of supply and demand will see the cost rise significantly.”
<a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf">T</a>he full 'Month-in-Review' Herron Todd White report for April 2020 can be found <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
The full Herron Todd White 'Month-in-Review' for April can be read<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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Mildura region holding value thanks to resilient agricultural sector:  HTW rural

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Queensland north and north west may serve as a good source of employment while the hospitality sector struggles, according to the latest rural report from valuation firm Herron Todd White.
“As the pandemic is endured, society is looking to the agricultural sector to continue to produce an abundance of clean and safe foods,” the firm said.
“The low Australian dollar is of benefit to competitiveness for the sale of our safe and nutritious products on the global market”
This does not, however, mean boom time for agricultural property markets.
Unlike urban residential markets, graziers are still pushing ahead with their interest in acquisitions and expansions.
The pandemic has reduced the hot air value talk, which is a healthy thing for the rural property markets.
North and north-west Queensland has a limited supply of rural land on the market.
Demand is moderate to strong in the small to middle scale property sizes.
The pandemic has served to place a head check on purchaser frivolity.
“Vendor prudency is required as the pandemic continues and commodity supply chains redesign themselves. Not only is the pandemic a property market risk checker, so too is the season,” the report continued.
“There are parts of north and north-west Queensland that have not had the best season, and there are districts that have had a cracker of a season.”
Cattle are being sold off accordingly to southern markets where there have been better seasons.
This southern demand has served to mask the market while the supply chain issues around ports and meatworks are sorted.
At this stage, rural property markets in the north and north-west Queensland appear stable. Stakeholders are considering their risks and implementing protocols to protect their health while they continue to grow an abundance of healthy and safe food.
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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Queensland north and north west markets look towards promising future: HTW rural

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The sugar cane industry, on which the New South Wales North Coast relies, has been under substantial pressure in recent times, according to the latest rural report from valuation firm Herron Todd White.
This has been driven by low international prices for the commodity, and the purchase of farms for planting macadamia nut trees and tea trees in the region.
Sugar cane farmers have long worked in a co-operative fashion and share harvesting and planting equipment in various well-organised farmer group structures to defray capital and operating costs.
The report found, however, that in more recent times, some farmers, particularly in the Condong Mill Area, have changed farm practices to growing all one year old cane instead of a mix of one and two year old cane.
“Earlier in the season, sugar producing and ratooning varieties and minimum tillage has promoted this practice of growing only one year old sugar cane. The experience of growing only one year sugar cane is higher levels of overall farm production,” the firm said.
“This region is renowned as a prolific beef store weaner producer historically popular with tableland and western graziers.”
“Although many weaners may still be sold to be grown out or finished in the western areas or feed lots, many beef graziers are improving pastures and genetics so that they can sell their product at higher live weights and gain a higher value and return per head.”
For this reason, the report found, there has been limited sales activity in 2020.
Some sugar cane farms in the Condong Mill area are reportedly sold or under contract, and an avocado farm at Fishermans Reach is reportedly under contract.
The full Herron Todd White 'Month-in-Review' for April can be read <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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NSW North Coast property stagnates as sugar cane industry hits trouble: HTW rural

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The news that construction of a new irrigation dam near Cairns appears unlikely in the foreseeable future is cause for some concern, particularly given the high number of recent avocado and citrus tree plantings in the Mareeba and Dimbulah Irrigation Area, according to the latest rural report from valuation firm Herron Todd White.
This has impacted values in the region.
“The threat of drought, reduced irrigation water allocations, and the continued popularity of the avocado has led to change in northern horticultural industries,” the firm said.
"Fear of a repeat of the 2016/17 drought is never too far away from the minds of irrigators in Mareeba and the Atherton Tablelands."
Growers have adapted to water security concerns by constructing dams that utilise existing overland runoff and recycled irrigation water that would normally go to waste.
The benefit of these on farm dams is that they are not regulated by Sunwater, therefore the water is free from regulatory charges and the danger of reduced allocations.
To improve the efficiency of these dams, growers are also upgrading their pumping infrastructure with variable speed drives which have resulted in significant savings on their electricity bills.
The report also found that composting has emerged as a major new industry in the horticultural area in far north Queensland.
A large composting facility known as Shark Recyclers has been constructed in Biboohra, north of Mareeba.
It is reported to be a next-generation facility that is the largest licensed compost and soil conditioning manufacturing facility in Queensland.
This has helped growers in far north Queensland to expand into the profitable avocado sector. The recent sale of a mixed avocado and sugar cane property in the Mareeba district for nearly $60 million demonstrates the changing market.
Many growers have successfully transitioned from traditional mango and other tropical fruit crops to Shepard and Hass avocadoes, chasing the insatiable consumer demand for avocadoes.
Fruit prices in recent seasons have been very profitable with sales of going concern avocado farms very rare as growers have tended to hold on to these assets to take advantage of super profits.
Nearly 50,000 trees have been planted in recent years in the Mareeba and Atherton districts as growers look to cash in on continued high prices.
The full “Month-in-Review” Herron Todd White report for April 2020 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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Cairns region home to both optimism and concern; HTW rural 

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The office market across was strong last year in both the Sydney CBD and metropolitan centres, however it is too early to predict the impact COVID-19 will have on prices, according to the latest report from valuation firm Herron Todd White.
“The two main markets in Sydney that we are watching closely this year are the CBD and Parramatta,” the April report said.
“They continue to dominate in terms of demand, supply and infrastructure projects.”
The Sydney CBD vacancy rates recorded by the Property Council of Australia (PCA) in January 2020 were 3.9 percent.
The firm found that tight vacancy kept rentals at record highs, particularly for prime and A grade stock, however agents began reporting softer demand for B through to D grade stock throughout 2019.
New approvals for office accommodation are low across the CBD, with approvals being generally focused on residential and hotel redevelopment rather than traditional office space.
According to the PCA, however, 154,424 square metres of new stock is due to enter the market in 2020 and 96,548 square metres in 2021.
“We continue to note that strong demand from owner-occupiers appears to be propelling this value growth,” the report continued.
The current interest rate environment is fuelling borrowing power and market sentiment across the board.
The current low cost of money combined with the impact of rising rents has seen a significant increase over the past two years in tenants looking to purchase to owneroccupy.
This appears to be a strong driver in increasing capital values as tenants looking to owneroccupy as well as owner-occupiers in general are typically less reliant on potential yields and as such, are more willing to pay a premium to secure the property they desire.
We expect this trend to continue this year and have already witnessed some strong sales in 2020 that would indicate that demand is still there.
Parramatta continues to emerge as the prime commercial precinct of the Sydney metropolitan area, underpinned by a significant investment in infrastructure and the completion of a number of development projects including the Parramatta Light Rail due for completion in 2023, the new Powerhouse Museum, upgrades to Westmead Hospital and Parramatta Square and the upgrades to the M4 Motorway, increasing connectivity and appeal of commercial space within the CBD to the greater Sydney metropolitan area.
“Parramatta remains the best performing metropolitan CBD in the country, with vacancy at 3.2 percent as at January 2020 (source: PCA) and increases in net face rents, primarily driven by low supply additions and the draw of more affordable rentals than the city,” the report said.
While 157,643 square metres is currently under construction and due to come online over the next two years, there is currently 82.27 percent pre-commitment for this space.
Further to this, the lack of new supply of commercial stock within the Sydney CBD has also created an increase in appeal to investors and owner-occupiers from a sales perspective, considering the comparatively lower capital outlay required to enter the market, combined with the centralised location of the commercial hub and prevailing low interest rates, making it the next sought after commercial centre.
“Given the performance of the locale, lack of stock and the investment in infrastructure, we consider the Parramatta commercial market to generally illustrate a positive outlook moving into 2020 with increases in net face rents, prevailing low vacancy rates and reductions in yields,” the firm concluded.
“We note that the emergence of the Coronavirus (Covid-19) pandemic has had a significant impact on global economic growth and the Australian economy.”
“We consider this will have an adverse impact on the Sydney commercial office market in general but that like all markets in Sydney it is too early to tell the impact.”
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Sydney office market still strong but faces tough road ahead: HTW

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Townsville’s demographic composition by age structure changed significantly over the ten years from 2008 to 2018, according to the latest report from the valuation firm Herron. Todd White.
“The proportion of persons in the population aged 55 and over has progressively increased from 18.9 percent to 23.9 percent due to the combined impacts of baby boomers entering these age ranges, population ageing and older people remaining affiliated with Townsville rather than moving elsewhere,” the March report found.
Meanwhile the proportion of the population aged either 10 to 19 or 35 to 44 has diminished from 29.8 percent to 26.3 percent, suggestive of families with high school or university age children having lesser attachment to the region.
“Trends in the age composition of the population will not only have economic implications for Townsville and its future labour supply, but also impact on future housing styles and choices in the Townsville property market,” the report continued.
“We have started seeing a move by downsizers towards inner city unit living, particularly within the suburb of North Ward.”
This style of housing provides low maintenance options for retirees whilst being in close proximity to lifestyle amenities such as The Strand, cafes and entertainment.
“First home buyers are currently preferencing new home construction or packages, whilst we are also seeing movement from buyers currently residing in the outer suburbs to suburbs within closer proximity to the city centre,” the report concluded.
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Townsville market undergoes substantial demographic changes: Herron Todd White

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The Melbourne retail investment sales market generally remained steady towards the end of 2019 with firm yields reflecting the limited availability of quality stock and solid purchaser demand, according to the latest report from valuation firm Herron Todd White. 
 “We have seen particularly strong results for well located properties with long term leases to major national retailers and for those with longer term development potential. We have continued to see varied results throughout the wider market,” the firm found.
There have been a number of examples of heavily declining rents which, when coupled with already sharp yields, is resulting in downward pressure on capital values in some areas. 
The March report indicates that financial institutions are placing an increased focus on factors such as security of income, lease covenant and length of remaining lease term for assessing serviceability of debt. 
As a result of the reduction in the borrowing power of purchasers, see signs of a slowdown in the constant price rises over the past five-year period are beginning to appear.
When on the market for sale, some retail properties are experiencing extended selling periods, particularly vacant retail assets and those in secondary locations. As the wider retail market continues to evolve and adapt to the challenges, we are witnessing retailers looking to differentiate and reinvent themselves in the market. 
Online retailing continues to place downward pressure on bricks and mortar retailing however will likely continue to play an important role in a brand presence. 
According to the Australian Bureau of Statistics, retail trade in Victoria rose 0.3 percent from November to December 2019 with an annual increase of 2.8 percent from September 2018 to December 2019. 
Nonetheless, many retailers are expecting difficult operating conditions throughout the first half of 2020. 
"A number of retailers are now rationalising their footprints by way of reducing store sizes and in some instances, closing underperforming or unprofitable stores. The downward pressure on rents in suburban retail strips experienced throughout the majority of 2019 is expected to continue throughout 2020 with tenants continuing to seek short initial terms, sometimes as short as one year, with a number of further option terms which allows for flexibility in the short term but some security and certainty to retain the premises should the location prove suitable for the business," the firm added
From a landlord’s perspective, these flexible leasing terms are attracting tenants, covering operating costs and providing for reviews to market should the leasing market improve. 
There is also a continuing trend of tenants being more aware of the impact that significant incentives have on net effective rents. 
Tenants appear to now be more open to negotiating lower face rents in lieu of rent-free periods or fit out contributions which provides more transparency for the tenant and landlord. 
During 2020, the Melbourne retail investment market is expected to see varied results across different market segments. 
“We are of the opinion that yields will remain stable for retail properties in strong retail locations such as the major strips in the Melbourne CBD and inner suburbs such as Collingwood and Fitzroy in addition to retail assets such as supermarkets which have long term leases to major national retailers and for properties with longer term potential for redevelopment. It is likely that yields may soften for retail properties in secondary locations, particularly within areas with low tenant demand and high vacancy rates,” predicted the firm. 
As in previous years, the Melbourne CBD and inner suburban retail rental markets will continue to be heavily impacted by population growth, changes in consumer behaviour and varied consumer confidence. 
Some areas, such as Chapel Street, South Yarra and Bridge Road, Richmond will likely continue to experience high levels of vacancy as a result of the ongoing shift away from traditional retailing towards service and food based uses. 
Outer suburban retail markets, in particular those outside established retail locations, will likely be impacted by larger operators who are opting for a more centralised model of retailing appealing to consumers demanding a more convenient and interactive shopping experience.
Smaller retailers unable to sustain the higher rental rates typically demanded within modern centres will struggle to adjust to the larger number of vacating tenants along older retail strips unable to provide the convenient experience modern consumers demand, the report concluded. 
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