A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

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>
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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.
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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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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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