&nbsp;

A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

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“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

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As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

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“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

[smartcode_project_cta:default project_id=133881]

Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

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There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

Hotspot

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I think there’s a strong argument that the strongest property market in Australia right now is not Sydney, nor Melbourne, but the Queensland regional city of Toowoomba.
This is the market which has not only delivered outstanding growth in the past year but has the credentials to keep on doing it. It has one of the nation’s most vibrant local economies, it has the lowest unemployment in the land, it’s affordable, it has above-average rental yields and there is a massive infrastructure spend under way.
That’s an investment cake with lots of tasty ingredients. And the icing on the cake is the resources activity in the nearby Surat Basin.
A question I always ask when a location is being boosted by exceptional circumstances is this: if all that activity suddenly stopped, would the location still be a good investment?
In the case of Toowoomba, this means: would the cake still be tasty without the icing? If all the coal seam gas and related activity stopped tomorrow, would Toowoomba still be a good buy?
The answer, unequivocally, is yes.
Toowoomba has long been an important regional centre. It’s Queensland’s largest inland city and it has that most important of ingredients, economic diversity – including agriculture, tourism, manufacturing, health &amp; community services, construction and government administration.
I’ve been shouting about Toowoomba for several years now and recently the city has been widely recognised for its many qualities.
A 2012 report by the Queensland Chamber of Commerce and Industry rated the <a href="/news">Toowoomba</a> region as the backbone of the state economy. The chamber’s Queensland Pulse Report ranked the south-west region, centred on Toowoomba, as the leader in all key criteria except one. The region led the state on business confidence, general business conditions, sales and revenue, employment levels and capital spending.
A 2013 report by Suncorp Bank rated Toowoomba as the employment capital of Australia. It had the lowest unemployment rate at 1.9%, ahead of Darwin 2.1% and Canberra 2.9%. This was reinforced in a September 2013 report which found Toowoomba’s unemployment rate was 1.5 percentage points below the national average. Toowoomba was also rated the third most “family friendly” of Australia’s 30 largest cities.
Affordability and strong rental returns are a big part of the Toowoomba appeal for invesetors. The standard house purchase is something in the high $200,000s or low $300,000s, with apartments in the mid to high $200,000s. It’s fairly easy to find 6% gross yields on houses and 6.5% on units. Vacancies are consistently low.
According to Australian Property Monitors, there has been exceptional capital growth in the past 12 months. Most suburbs have had double-digit growth in their median prices, with several recording 15% to 18%.
Prospects for ongoing performance are strong. The infrastructure spend is considerable and there is the bonus of resources activity via the coal seam gas which is feeding the new processing plants at Gladstone.
The Wellcamp Airport is well advanced in construction, there is massive investment in roads (including the $1.6 billion second range crossing, which has state and federal funding), there are plans for two major new rail links to serve the resources sector, a $300 million convention centre is in the offing and there are upgrades to medical facilities including Toowoomba Hospital.
Property developers are active, with projects that include a $350 million re-development of inner-city retail facilities, major industrial estates and an array of housing and apartment projects.
In terms of what many investors would see as the ideal investment venue – affordable prices, strong rental returns and great future prospects, underpinned by a vibrant local economy – it doesn’t get much better than Toowoomba.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
 
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terryryder-YECXbqmri2

Strongest property market right now isn't where you think

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The Toowoomba residential property market remained steady throughout the first half of 2019 following a general decline since the peak of activity at the end of 2013, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that although sales activity has been steady across the board, the market has continued to be multi-speed and property specific.
"There has been little consistency with variations in sale prices and buyer interest across the established suburbs," the valuation firm stated.
"The prestige market however, has been performing strongly, particularly in the eastern suburbs as has the upper end of the rural residential lifestyle market."
A recent over $1 million sale was five bedroom architect designed home in Middle Ridge.
Situated in a quiet cul-de-sac, the house at<a href="https://www.realestate.com.au/sold/property-house-qld-middle+ridge-131307442" target="_blank"> 8 Daniells Close </a>comprises master suite with walk in robe, four additional built-in bedrooms, open plan living area, and kitchen with designer cabinetry.
It's located close to Gabbinbar Homestead, Middle Ridge Golf Course, Middle Ridge Primary School, Gabbinbar Primary School, parks, restaurants, cafes, boutiques and day-to-day services.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/middle%20ridge%20.jpg" alt="">
The median sale price for houses across the Toowoomba Regional Council LGA has displayed little growth over the past four years, sitting at approximately $380,000 at the end of 2018, up from $375,000 in June 2015.
According to the HTW report, another key indicator of the steady property market is the volume of property sales.
In the six months ending December 2018, there were approximately 1,320 transactions across the Toowoomba Regional Council LGA.
This is slightly less than the same period one year earlier, when approximately 1,375 sales were recorded and further highlights the steady residential property market.
"The unit market has followed a declining trend, with low sales volumes following the oversupply of unit products that became apparent throughout 2016.
"Land sale volumes have continued to decline since a peak in mid 2015," the valuation firm noted. 
Toowoomba has seen an explosion of retirement village developments in recent years, ranging from medium density multi-level projects to low density detached dwellings.
These projects are spread right across the city, from Glenvale in the west to Highfields in the north, with more projects being planned.
The report suggests that this retirement living boom could be a driving factor in the low volume of land sales and sluggish level of housing transactions.
"The surprising factor is that residential vacancy rates continue to decline," the valuation firm said. 
In postcode 4350, the vacancy rate was just 2% as at April 2019.
A circa 1950 house in postcode 4350 has recently been sold for $350,700.
Set on a 908 square metre block, the brick house at<a href="https://www.realestate.com.au/sold/property-house-qld-east+toowoomba-129059814" target="_blank"> 10 Eton Street, East Toowoomba </a>comes with three bedrooms, spacious kitchen, open brick fireplace, and double hung windows.
It's just moments from the city centre, Queen's Park, cafes and restaurants. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/east%20toowoomba.jpg" alt="">
"This is considered tight and well below the balanced market level of 3%.
"Should this low level be sustained or continue to decline further, rental rates are likely to come under pressure.
"The steady market conditions currently being experienced in the residential property market across Toowoomba are expected to continue throughout the remainder of 2019." 
<a href="https://www.propertyobserver.com.au/images/2019/7/1/toowoomba%20vacancy%20rates.jpg" target="_blank">Click here </a>to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/toowoomba%20vacancy%20rates.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Toowoomba prestige market shows strong permanence: HTW residential 

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A four bedroom one bathroom house in the Toowoomba suburb of Newtown, Queensland has been sold on behalf of the mortgagee for $210,000.
Angela and David Harms of Success Realty held the listing.
Last sold in 2001, the property transacted for $97,000.
Situtated at <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-130165382" target="_blank">63 Jimbour Drive</a>, the home was previously listed in 2017 for $265,000.
The property had been listed for February 2 auction.
Set on 600 square metres the property is currently tenanted for an undisclosed weekly rent.
The property is one of a group of 37 properties Success Realty was marketing for mortgagee sale.
Others mortgagee listings in Newtown that Success Realty sold include <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-130165118" target="_blank">4 Higgins Street</a> and <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-130165214" target="_blank">77a Taylor Street</a>.
<a href="https://www.propertyobserver.com.au/subscribe" 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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/newtown-qld-4305">Newtown, Queensland</a> is $310,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 2.8%.
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Toowoomba mortgagee house sold at auction for $210,000

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Toowoomba's residential property market is stable but lacking consistency.
The Toowoomba residential property market has continued to remain steady throughout the first half of 2018 following a general decline since the peak of activity at the end of 2013, and although sales activity has been steady across the board, the market has continued to be multispeed and property specific, according to the June report form valuation firm Herron Todd White.
There has been little consistency with variations in sale prices and buyer interest across the established suburbs.
The report suggests that, the prestige market however, has been performing strongly, particularly in the eastern suburbs as has the upper end of the rural residential lifestyle market.
The median sale price has displayed some growth over the past 3 years, currently sitting at approximately $390,000 up from $375,000 in June 2015, the report noted.
"As of April 2018, there were approximately 1,740 houses and units listed for sale in postcode 4350 and with this is being near a 6 year high, it does not bode well for price growth in the short term." stated the HTW valuers
"The unit market has followed a similar trend to the housing market, with low sales volumes following the oversupply of unit product that became apparent throughout 2016."
Land sales volumes steadily increased in the 3 years between 2012 and 2015; peaking at 1,063 sales in 2015, while in 2016, 681 sales were recorded and then 677 in 2017.
"In contrast, vacancy rates across Toowoomba are approximately 2.3% as at April 2018, which is considered tight and below the balanced market level of 3%", noted the valuers at HTW.
"The Toowoomba Second Range Crossing project under construction appears to have assisted in maintaining low vacancy rates, with many workers residing in the region."
The valuing firm forecasts that the low vacancy rate and substantial infrastructure projects in the pipeline may reignite interest in Toowoomba residential property from investors although the steady market conditions currently being experienced in the residential property market are expected to continue throughout the remainder of 2018.
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Toowoomba's residential property market stable but lacking consistency: HTW 

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Quest Apartment Hotels has reopened its doors in Toowoomba, following nine months of restoration work.
The hotel was damaged by fire last June, after a blaze broke out at an adjacent property. 
Building owner FKG commenced the $5 million restoration works after the blaze, replacing soft furnishings, broken windows and glass, electrical, plumbing and wiring along with fresh paint and carpet throughout, after smoke and heat ravaged the entire eastern face of the hotel.
Quest Toowoomba franchisee, Cynthia Rice has been with Quest since 2003.
“The former Church of Christ building is of significant cultural value to the local community, representing part of Toowoomba’s history, while having a wonderful aesthetic. We couldn’t be happier to have restored the property back to its former glory,” she said.
Located at 133 Margaret Street, the property features 74 apartments in total – a combination of studio apartments with kitchenettes, along with one, two and three bedroom apartments with kitchen and laundry facilities and a separate living/dining area. 
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Quest Toowoomba officially reopens its doors

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Being one of the more affordable regional locations in Australia, Toowoomba and surrounding suburbs offer an opportunity for many different types of home owners.
With various industry and job opportunities, a central hub location, a diverse property market and varying segments, there are many different home owners whether FIrst home owners, families, or empty nesters, the valuation firm, Herron Todd White recently noted.
While lending has tightened and property ownership has become more difficult for the next generation, there are still good opportunities in the Toowoomba region to become a home owner, HTW suggested.
Strategies such as joint ownership can also bring affordability to young people getting their foot in the ownership door and out of the rental market. 
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The typical product attractive to first home buyers tends to be in the sub $450,000 segment, being new 2- and 3-bedroom units as well as 3- and 4-bedroom houses located in active investor areas in the western suburbs of Toowoomba and satellite suburbs such as Cambooya and Wyreema. 
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Non-locals account for the majority of investors in Toowoomba, according to Herron Todd White’s recent report.
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The property investment firm says that locals mostly purchase to occupy.
“Investors have generally been attracted to low maintenance properties such as near new 4-bedroom 2-bathroom 2-car houses and 6-bedroom 4-bathroom 2-car duplex pairs.
“Majority of the investor market at present appears to be non-local investors with most locals purchasing to occupy.
“The majority of the investor market tends to operate in the sub $400,000 segment for houses and sub $550,000 for duplex pairs.
“In the current market it’s unknown whether investors are favouring strategies to seek higher yields or focusing on capital gains.
“With a slow moving market at present, investors are possibly looking to use a mixture of the two strategies,” the report stated.
Suburbs such as Glenvale and Cranley are hotspots for investors over the past few years Herron Todd White advises.
“Some of the western suburbs such as Glenvale and Cranley, and nearby neighbouring suburbs including Wyreema and Cambooya have tended to be hot spots for investor activity over the past few years.
“This is most likely a result of vacant space able to be developed; with other suburbs to capacity and unable to spread.
“The investor market has been strong in the Toowoomba area over the past few years with the contributing boost in infrastructure and developments recently completed and still underway.
“These projects have brought workers to the area requiring accommodation.
“It could be argued that the high investor activity recently experienced in the Toowoomba area had a negative impact on the region with an apparent oversupply situation, rise in vacancy rates and a reduction in rents.
“On the other hand this has also helped bring jobs, housing and affordability,” the report advised.
A 600 sqm block of land at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-glenvale-201838674" target="_blank">591 Greenwattle Street</a>, Glenvale (above) has sold for $160,000.
A 4,000 sqm block of land at <a href="https://www.realestate.com.au/property-residential+land-qld-glenvale-201771374" target="_blank">202 Drayton-Wellcamp Road</a>, Glenvale (below) was listed for $225,000, with the update now showing offers above $210,000.
<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/2017/08/04/202%20Drayton-Wellcamp%20Road.jpg" alt="">
Interest in Toowoomba and surrounding areas, however, has slowed Herron Todd White warns.
“Investor interest in Toowoomba and surrounding areas has significantly slowed in the past two years, resulting in a gradual correction of the market with vacancy rates and rents stabilising.
“People looking to invest in the Toowoomba area could consider purchasing in older suburbs closer to the CBD, shops and services such as Centenary Heights, Darling Heights, Kearneys Spring, Newtown, North and South Toowoomba.
“These areas could see higher yields with proximity for convenience and have greater potential for capital growth as these suburbs have nowhere to spread,” the report warned.
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Vacant land in Toowoomba's west attracting investors: HTW

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Toowoomba’s property market continues to perform strongly, according to REIQ's latest Queensland Market Monitor’s quarterly report.
Over the medium term, Toowoomba has been a strong regional performer with the annual median sale price growing 21.1% for houses and 25.7% for units.
This ranks Toowoomba as the third-strongest performing regional market for housing and the best performing regional market for units in the state.
In a climate where regional residential markets have been severely challenged, this is a noteworthy result.
The March quarter delivered positive results with the median house price growing 1.3% to $355,000 and the median unit price grew a solid 2% to $309,500.
Toowoomba is one of the few regions in Queensland favoured with large infrastructure investment.
The $1.6 billion Toowoomba Second Range Crossing, the Gore Highway Interchange construction, the Murphys Creek Road and Postmans Ridge Road realignment, commencing this year.
Toowoomba is a steady market for both houses and units with a solid pipeline of projects in the region.
However, there is an increase in the supply of houses and units to this market which could affect the equilibrium of the market and its positive outlook over the coming months.
Toowoomba’s house market slipped of 0.8% over the past 12 months, to an annual median house price of $350,000 for March.
Over the medium term (five years), the housing market increased 21.1% or the equivalent of 3.9% per annum, from the annual median of $289,000 in March 2012.
There are some signs that demand is slowing.
The number of quarterly sales fell 2.4% from 551 in September to 538 in December.
Preliminary data shows a reduction to 426 transactions for the March quarter.
The most-active sale price for houses sits in transactions below $350,000.
Toowoomba is the second-most affordable local government area in the southeast corner, following Ipswich.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.41%20am.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/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.41%20am.jpg" alt="">
The median days on market increased 10 days from 44 days in February 2016 to 54 days in February 2017.
The median vendor discounting, on the other hand, remained steady at 4.8%.
The number of listings increased significantly by 31.9% from 3906 listings in February 2016 to 5151 in February 2017.
This increase is just a reflect on of the growing supply of housing in the region.
The impact of the increasing supply on the market dynamics and median sale price will be monitored.
The unit market performed well this quarter reaching a quarterly growth of 2% to a median price of $309,500.
This growth partially compensated previous quarterly losses and helped control the dip on the annual median sale price of 0.6% with the annual median sale price falling to $308,000 for March 2017 from $310,000 for March 2016.
Over the medium term, Toowoomba remains the star performer for the unit market with the annual median sale price increasing from $245,000 in March 2012 to $308,000 in March 2017.
The size of the Toowoomba unit market is small, only about 500-600 sales per year. A comparison between the volume of sales in September and December 2016 demonstrates that demand remains steady with quarterly sales.
The most active price range for units is for transactions between $250,000 and $350,000, which aligns with the median sale price range.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.50%20am.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/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.50%20am.jpg" alt="">
Market trend indicators for the 12 months to February 2017 show a slower market for units with the median days on market increasing to 80 days and the median vendor discounting reaching 5.1% for February 2017.
The number of listings reported a significant increase of 36.5% from 619 listings for February 2016 to 845 listings for February 2017.
The impact on the market equilibrium and pricing is still unknown and will be assessed when data for the June quarter is available.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-centenary+heights-125601038" target="_blank">147 Ramsay Street</a>, Centenary Heights (above) has been listed for over $349,000.
It was last sold in 2006 for $235,000 and the land was sold in 1984 for $22,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-middle+ridge-125015022" target="_blank">6/77 Bouganvillea Drive</a>, Middle Ridge (below) has been listed for over $299,000.
It last sold in 2012 for $316,500.
<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/2017/06/16/6_77%20Bouganvillea%20Drive.jpg" alt="">
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Toowoomba ranked third-strongest performing regional housing market in Queensland

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The residential housing market in South East Queensland has experienced stellar growth, with hotspots within the state popping up ahead of the Gold Coast Commonwealth Games, Stage 2 of Gold Coast Light Rail, and the refurbishment of Coomera Town Centre according to Choice Homes.
Areas such as Ipswich, Beaudesert and Logan are coming on strong, according to their latest Urban Appeal report.
Troy Knight, company director, Choice Homes, said the Ipswich market is warming up and there’s plenty of data to prove it.
“The city has one of the fastest growing populations in Australia, increasing by 700 percent in the last decade," he said
“The region is hugely popular with families due to its retail and family amenities, local employment opportunities and great educational and transport infrastructure.
“The Queensland Government has earmarked Ipswich and its surrounding suburbs as a major growth corridor.
“Private and government investment in the area, including the hotly anticipated $200 million upgrade of the Ipswich motorway, RAAF Amberley base, $190 million railway maintenance centre and $1 billion Ipswich CBD revitalisation program, is further driving demand.
“A vast array of new roads, transport links and accessible residential communities are starting an important new chapter in the development of Queensland’s fastest-growing city.
“These infrastructure initiatives, also a catalyst for job creation and commercial development, will add value to property in the surrounding areas.”
The report notes Beaudesert will continue to grow and attract more people in the area with low vacancy rates, affordable housing and easy access to the metropolitan areas of the Gold Coast and Brisbane.
It said local population is forecast by the Scenic Rim Council to triple by 2036 as the region emerges as a significant satellite of Brisbane and the Gold Coast, both less than an hour away.
“Much of the city’s growth is underpinned by the Bromelton State Development Area, a 15,000ha area less than 6km from Beaudesert,” the report said.
“Included in the SDA is the Bromelton State Industrial Park, an 1,800ha parcel that will deliver an estimated 18,000 new jobs to the region.”
Troy Knight said Logan, situated between Brisbane to the north and Gold Coast to the south, is ideally placed for continued growth due to its central geographical location and available young workforce.
“The Logan area is about to embark on a major growth phase due to land availability,” he said.
“Median rental yields are showing market momentum, with 6.3 percent returns for houses.
“High-level growth is a result of affordable properties with above-average rental yields, widespread transport links, a diverse mix of industries providing employment and a growing economy.
“Many of the city’s older suburbs have been revitalised through urban renewal projects, with a new emphasis on social elements – such as dining, entertainment, recreation and cultural diversity – rounding out the city’s new image.”
For more information from Choice Homes, <a href="https://www.propertyobserver.com.au/https://www.choicehomes.com.au/communitydetails/5700433" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

Hotspots in South East Queensland residential property market

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Pimpama in Queensland has been pinpointed as Australia's number one housing hotspot, based on its performance during 2015/16.
It is a suburb in the northern part of the City of Gold Coast, located on the Pacific Motorway 30 kilometres north of Surfers Paradise.
In second place was Sydney's Cobbitty-Leppington area, followed by Palmerston-South in the Northern Territory, according to HIA's latest Population &amp; Residential Building Hotspots 2017 report released on Sunday.
<a href="https://www.propertyobserver.com.au/images/2017/05/28/Screen%20Shot%202017-05-29%20at%208.47.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/28/Screen%20Shot%202017-05-29%20at%208.47.43%20AM.png" alt="">
Population in these areas grew by more than the 1.4 percent national average during 2015/16 and had at least $150 million worth of residential building approved, HIA said. 
Palmerston-South in the NT in third place in the national Top 20. Nine of the top 20 hotspots are located in New South Wales. 
“With 2016 representing a record year for new home building activity across Australia, the housing industry has been supporting economic activity in localities up and down the country. The good news on housing is not confined to the major capital cities – today’s report shows that regional Australia is also peppered with housing Hotspots,” commented HIA Senior Economist Shane Garrett. 
“In terms of its economic contribution, the housing industry is truly unique. Today’s report identifies 86 separate areas in every state and territory across Australia where residential building activity is acting as the engine of economic activity, employment and development. Small businesses are particular beneficiaries of housing activity,” concluded Shane Garrett. 
Nationally, an area qualifies as a Hotspot if its population grew by more than the 1.4 percent national average during 2015/16 and at least $150 million worth of residential building was approved during the year.
Pimpama's latest residential development is Halcyon Greens, a $300 million masterplanned community for over 50s.
 
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Gold Coast's Pimpama pinpointed as Australia's home building hotspot by HIA 

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Century 21 Australasia chairman Charles Tarbey believes property investment in Sydney's Rouse Hill, the Sunshine Coast, Melbourne and Perth may hold good prospects for future investment.
Writing on Peter Switzer's Switzer Daily, Tarbey said Melbourne apartments and homes in Perth will be areas to watch.
He said more and more Australians are turning to property as their preferred asset class and taking advantage of the current low interest rate environment to invest in the relative security of bricks and mortar.
"A question I am often asked concerns the best places to invest as people eagerly seek to discover the hotspots for their next property purchase. 
The nature of the real estate cycle means that markets are consistently changing and it is difficult to predict movements with certainty.
"Prudent property investors will be researching, looking at data, engaging with professionals and putting all of this together to make the most informed decision possible for their personal circumstances. 
"Here are a few of my thoughts on locations in Australia that may hold good prospects for property purchases moving forward."
Melbourne
"According to CoreLogic, Melbourne experienced a 1.5 eprcent lift in prices over the month of February, and a 13.1 percent increase for year-on-year," he said.
"The state of Victoria as a whole is a strong market, however Melbourne in particular holds good prospects over the long term as a place for investment due to the strength of the economy and the prices of properties compared to similar property brackets in its northern neighbour, NSW. 
"Apartments are steadily coming on to the market, but at a slightly greater rate than demand. Unit approvals have risen 32.2 percent compared to a year ago according to ABS data from January 2017, so investors should remain wary of unit purchases that don’t meet their strict investment rules. 
"I believe that Melbourne remains a place where property exists in a good price range for such an iconic city, which may mean it endures as an attractive and relatively safe investment destination when taking a long-term view."
Rouse Hill and Surrounding Areas
"Rouse Hill sits around 42 kilometres north-west of Sydney and has quickly emerged as an area with good prospects for property investment," he said.
"CoreLogic data shows the median sale price of houses has increased 53.6 percent over the past five year, equating to a compound annual growth rate of around 9 percent. 
"Infrastructure is often a valuable indication of a suburb with good investment prospects as accessibility is enhanced. With construction of the Sydney Metro North West rail project well underway, we have seen many new developments of both houses and apartments emerging in the area. 
"Homes selling with million dollar price tags have become more frequent as people are attracted by qualities such as the family-friendly lifestyle found in Rouse Hill and surrounding areas, as well its location that is in relatively close proximity to the city. 
"With such a rapid growth in prices of late many might be wondering whether they have missed the boat on Rouse Hill and surrounding areas. I believe there are still suburbs around Rouse Hill that hold value for investors and it is hard not to believe that Rouse Hill itself won’t continue to enjoy growth over the long term as the train line begins operation and this micro economy, fuelled by the North West commercial district, comes into its own."
Sunshine Coast
"Stretching from Caloundra up to Noosa Heads, the Sunshine Coast region has been on the radars of many Australians," he said.  
"The area offers a great coastal lifestyle, which makes it an attractive destination that can satisfy the needs of those looking for a new home, rental property or holiday home. 
"According to CoreLogic’s regional report for the September 2016 quarter, the Sunshine Coast was one of the top performers in Queensland, along with the Gold Coast, and experienced lifts in both house and unit values. 
"Median values across Queensland’s Sunshine Coast rose by 4.1 percent for houses and 3.0 percent for units over the year ending September 2016.
"The region may hold good opportunities for investors as properties are still relatively cheap compared to other markets, the region is fairly iconic for both Australians and international visitors, and the area’s relatively close proximity to Brisbane should see it be a desirable location for Queenslanders for many years to come. 
"However, if the market encounters an influx of interest, there runs the risk that it can result in an oversupply of rental stock. Investors should remain cautious of this and ensure they are borrowing within a predetermined budget to avoid any financial shock should they encounter difficulty in attracting and keeping a good tenant."
Perth
"The Western Australian market has been struggling for a while now as it encountered the effects of a downturn in mining activity. This has been particularly prominent in comparison to other state markets that have been experiencing continuously strong growth," he said.
"CoreLogic data showed that Perth home values have fallen by -0.9 percent over the three months to February 2017. While prices are still experiencing downward movement in many areas, this trend may begin to attract the interest of investors looking for value laden purchases. 
"Investors may be able to secure property at a fair price, and should be watching areas in and around Perth as its potential to stabilise is good and any large increase in mining activity can see that property market explode very quickly."
 
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