<p data-end="256" data-start="0"><a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.</p>

<p data-end="446" data-start="258">The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.</p>

<p><img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.</p>

<p>The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.</p>

<p>The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”</p>

<p data-end="626" data-start="350">Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.</p>

<p data-end="928" data-start="628">“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”</p>

<p data-end="1147" data-start="930">Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.</p>

<p data-end="1510" data-start="1149">“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”</p>

<p data-end="1510" data-start="1149"><img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" /></p>

<p>&nbsp;</p>

<p>The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.</p>

<p>Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.</p>
</section>


Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

<p style="text-align:start">The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;</p>

<p>The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.</p>

<p>The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p>The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.</p>

<p>As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.</p>

<p><img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" /></p>

<p>The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.</p>

<p>Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.</p>

<p>“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.</p>

<p>“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;</p>

<p>Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.</p>

<p>“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.</p>

<p>“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”</p>


Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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<p><span>Most towns on the Central Highlands of Queensland appear to be going back to normal trade apart from Moranbah which continued to strengthen throughout COVID-19, according to the last Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"We have seen a pick up in activity over the past two weeks in both sales and rentals," the valuation firm said </span></p>
<p><span>The report suggests renovations is a good thing for most towns on the Central Highlands with costs able to be recovered in most situations.</span></p>
<p><span>"We are seeing most mortgagee homes and lower end properties being purchased and shortly after being renovated.</span></p>
<p><span>"With a rising market we see renovators cashing in on true added value to their properties. Builders are probably evenly split currently between new homes and renovations in the area.</span></p>
<p><span>"We have now had four years of steady growth coming off a bottom in 2016, so there are many with equity to undertake improvements to their properties and we see this continuing," the valuation firm said. </span></p>
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<p><span>For example, a fully renovated Queenslander in Emerald was sold for $250,000 in April. </span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-132373638" target="_blank">25 Theresa Street</a> (pictured below).</p>
<p><span>It features open plan living and dining, covered verandas and above ground pool. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/emerald%20.jpg" alt=""></span></p>
<p> </p>
<p>A current listing is a four bedroom house in Emerald which has been renovated inside. </p>
<p>The family home at <a href="https://www.realestate.com.au/property-house-qld-emerald-133687746" target="_blank">7 Tineele Place</a> (pictured below) has been listed for $425,000.</p>
<p>It comes with gourmet kitchen, large dining and family room, rumpus room and in ground pool.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/emerald%202.jpg" alt=""></p>
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j.ballantyne1990-6AQqhLzZaK

Emerald sees continuing renovation works: HTW residential 

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<p><span>Over the past month, residential property in the Rockhampton region (including the Capricorn Coast) has continued to tick over, with properties still being listed and sold despite the global pandemic, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<p><span>The report notes there has been no evidence to date of a decline in values, in fact, some sectors of the market are continuing to improve slightly (i.e. modern, well presented homes on </span>the Capricorn Coast).</p>
<p>"Regionally, we have been fortunate to continue with a very small number of COVID-19 cases which, combined with the recent easing of restrictions, is likely to support this trend to continue should the number of cases remain low in our region," the valuation firm said. </p>
<p><span>Over the past 12 to 18 months in particular, there has been a notable increase in renovation projects in a small sector of the Rockhampton market. </span></p>
<p><span>Generally, small pockets of South Rockhampton, such as The Range, Allenstown and Wandal </span>are sought after for their proximity to the CBD, schooling, hospitals and elevation available in some areas to provide city views to the east or vast hinterland views to the west.</p>
<p>However, given that the south side is characterised by Queenslander style homes and there is no room for growth or expansion due to the area being surrounded by flood plains, renovation presents the only option for those in the market wanting both southside convenience and contemporary living, the report noted. </p>
<p><span>"In the balance of the market, renovation activity is generally holding steady, with some basic dwellings receiving a renovation to then be on-sold," the valuation firm said. </span></p>
<p><span>This has started to occur after a period of very limited renovation in the low to middle sections of the market and this change is considered to be a combination of low interest rates, a preference by </span>first home buyers to want properties with nothing left to do and a consistent, moderate upturn in the local economy.</p>
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<p><span>Whilst the majority of the renovations seen are by long term owner-occupiers entering into a major renovation to create their forever home, there are a number of investors picking themselves up a bargain and completing a simple renovation </span>(i.e. no structural changes) to then resell with the intent of turning a profit in a market which is starting to recover from an extended period of no capital growth.</p>
<p>There has been a number of sales evidenced over recent months where a building company has purchased a rundown property in an average suburb, renovated, professionally styled the home and resold at an expected profit with a short turn around.</p>
<p>"Styling and presentation is a key factor linked to the level of profit made. First home buyers still prefer new homes, however there are some who end up buying these more affordable, renovated existing homes with nothing left to be done," the valuation firm said. </p>
<p><span>Buy in price points for renovators vary greatly. From sub-$200,000 for the investor-renovator through to $600,000 for the long term owner-occupier- renovator. End values then vary just as much.</span></p>
<p><span>The added market value of basic renovations tends </span>to match cost and when the market is starting to recover, a small profit may be had, the report suggested. </p>
<p>When a major renovation is undertaken however, it is a very different outcome. There is little to no evidence that the added value of the renovation will match or exceed the cost to construct.</p>
<p>"This is where it is important to be aware of the market in which you are renovating to determine where renovation dollars are best spent. Is it wise to make structural changes to the home or stick to cosmetic works only?</p>
<p>"A dwelling with a poor layout would benefit from a structural change to rectify, however if the existing layout is functional, that money may be better directed elsewhere," the valuation firm said. </p>
<p>The report suggests being aware of town planning is also important when planning a renovation, particularly in older areas where perhaps a heritage overlay or neighbourhood character overlay is required to be complied with.</p>
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<p><span>For Rockhampton in particular, the renovator market is likely to continue the current trend as factors that drive the decision to renovate are considered a constant in the local market.</span></p>
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<p><span> A renovated family home in West Rockhampton has recently been sold for $290,000.</span></p>
<p>The four bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+rockhampton-133516998" target="_blank">33 Stickley Street </a>(pictured below).</p>
<p>Renovated inside and out, the home features new roof, timber flooring and new hot water system. </p>
<p><span>It was last sold in 2005 for $190,000.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/rockhampton%202.jpg" alt=""></span></p>
<p> </p>
<p><span>A classic Queenslander in Lakes Creek with renovated kitchen and bathroom is currently on the market with a price guide of $350,000 -$2380,000.</span></p>
<p>The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-lakes+creek-133783858" target="_blank">604-606 Montgomerie Street</a> (pictured below).</p>
<p><span>It comes with open plan living, dining and kitchen, rear deck and rumpus room. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/lakes%20creek%202.jpg" alt=""></span></p>
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Rockhampton renovation activity holding steady: HTW residential 

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<p>There are opportunities available by way of renovation works in the far northern New South Wales and southern Gold Coast suburbs, according to the latest Herron Todd White (HTW) residential report. </p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>The report notes the more established and desirable suburbs such as Coolangatta are showing opportunities for the savvy investor or existing resident to manufacture capital growth in an uncertain market.</span></p>
<p><span>Across most of the area, selling agents have advised a reduction in stock levels and slightly longer selling periods as a result of </span>the recent border closure and COVID-19.</p>
<p>"Be it DIYers looking to be productive during lockdown, forward-thinking homeowners looking to manufacture equity or a lack of confidence in the current market, homeowners appear to be taking the opportunity to add value to their homes through renovation works, rather than selling in a perceived slower market," the valuation firm said. </p>
<p>Predominantly the more established areas such as Tweed Heads, Palm Beach and Coolangatta have seen an increase in this style of work, however it has been noticed in the newer pockets of Casuarina and Pottsville as well. </p>
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<p><span>There has been an increase in smaller scale works amongst the investor space as a result of a supply increase, particularly in coastal, holiday driven areas with investors looking to secure good tenancies, the report noted. </span></p>
<p><span> Internal painting works, floor coverings and updated electrics are appearing in the market as well as minor façade updates and landscaping works.</span></p>
<p><span>A two bedroom unit in Palm Beach which was renovated throughout has recently been sold for $495,000. </span></p>
<p>The ground floor unit at 2/79-82 Townson Avenue (pictured below) comprises two bedrooms, two bathrooms and two secure car spaces. </p>
<p><span>It is located within walking distance to local shops, schools and public transport. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/palm%20beach.jpg" alt=""></span></p>
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<p>A currently offering is a three bedroom apartment in Tweed Head priced at $649,000.</p>
<p>The renovated apartment at 9/1 Botany Crescent (pictured below) has been offered to the market for the first time in 27 years. </p>
<p>It comes with gourmet kitchen, huge laundry and covered balcony. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/tweed%20heads.jpg" alt=""></p>
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Southern Gold Coast established areas see increase in renovation works: HTW residential 

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<p>Agents in Mackay reported a slight decrease in sale volumes towards the start of COVID-19 restrictions, however as the government slowly starts to lift restrictions, volumes are slowly starting to improve, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p><span>The report notes new listings and property values appear to have held steady with no material change in market value.</span></p>
<p><span>The Mackay rental market was already tight prior to the pandemic with vacancy levels under two per cent, however agents have reported increased interest, particularly from fly in fly out workers who have been unable to travel due to restrictions and will </span>be further hampered by the effects of Virgin’s possible closure.</p>
<p><span>"We have not seen any indication to suggest that renovations have changed during lock down.</span></p>
<p><span>"We consider renovations to have remained steady and are still predominantly occurring in inner city locations (Mackay, East, West and South Mackay). They are generally of older style, low set or high set </span>dwellings purchased for less than $300,000," the valuation firm said. </p>
<p>There are a mix of owner-occupiers and investors looking to renovate, however the investor types tend to be tradespeople who can undertake much of the work themselves and flip them straight away.</p>
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<p><span>Depending on the size of the dwelling and the degree of ancillary improvements, they are worth between $350,000 and $550,000 on completion, the report noted.</span></p>
<p>Smaller dwellings on smaller than average lots with basic ancillary improvements are worth between $350,000 and $400,000.</p>
<p>Larger dwellings with significant ancillary improvements and over 700 square metre allotments are worth anywhere between $450,000 and $550,000.</p>
<p>A renovated house in West Mackay has recently been sold for $379,000.</p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+mackay-133582790" target="_blank">57 Mogford Street</a> (pictured below).</p>
<p>It features open plan living zone, study, storage and backyard. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/west%20mackay%20.jpg" alt=""></p>
<p>A current listing is a three bedroom Queenslander in West Mackay priced at $549,000.</p>
<p>The <a href="https://www.realestate.com.au/property-house-qld-west+mackay-133632014" target="_blank">414 Bridge Road</a> home (pictured below) comprises three bedrooms, multiple living areas, entertaining deck and in ground pool.</p>
<p>It also features features polished floors, stone bench topped kitchen and cupboard storage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/west%20mackay%203.jpg" alt=""></p>
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Mackay renovation activities remain steady: HTW residential 

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<p><span>There has been little change in regard to COVID-19’s impact on Gladstone’s property market, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. </span></p>
<p><span>This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"It’s just about business as usual for our market. Sales continue to tick over with no evidence of any further declines in value," the valuation firm said. </span></p>
<p><span>The HTW report notes rental vacancies remain tight with a vacancy rate of 1.6%, the lowest </span>they have been since the peak of the market.</p>
<p>Affordability is still the key driver in our market and while we are not out of the woods just yet, it’s looking more and more likely that COVID-19 will be remembered as just a very minor blip on the radar for Gladstone’s residential market.</p>
<p><span>In terms of renovations, there has really been very limited activity in the past 12 months, apart from every man and his dog doing minor maintenance or landscaping work during lockdown, the report noted. </span></p>
<p><span>The reason for the lack of renovation work is really unknown. Despite the market looking up, a significant portion of homeowners in Gladstone would have negative equity in their homes from the market downturn, so in essence cannot afford to renovate.</span></p>
<p><span>"We’ve seen the odd, full internal renovation, in most cases of a mortgagee sale property that is </span>in a state of disrepair and that sold towards the bottom of the market range.Completing only minor cosmetic works to these types of properties adds considerable value to the property," the valuation firm dais. </p>
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<p><span>While not quite considered a renovation, construction of new sheds on existing properties has surged over the past several months.</span></p>
<p><span>"The reasoning behind this sudden increase in sheds being built is also unknown. Interestingly, the size of the sheds is also increasing," the valuation firm said. </span></p>
<p><span>Once upon a time, a six metre by six metre shed in the back yard was the norm, however this is no longer the case. Longer and wider sheds with higher clearance are becoming the norm along with features such as mezzanines and internal bathrooms.</span></p>
<p><span>"We have also noticed a distinct uplift in pricing for sheds in the region. Costs appear to have jumped about $100 per square metre in the past few months and this sudden jump in cost has not yet been reciprocated in the added value of a shed to a property." </span></p>
<p>An original three bedroom home in West Stowe with a renovated kitchen has recently been sold for $278,000.</p>
<p>The four bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+stowe-132524586" target="_blank">1130 Calliope River Road</a> (pictured below). </p>
<p>It features hardwood timber floors, three bay shed and mountain views.</p>
<p>The property was last sold in 2012 for $60,000. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/west%20stowe%201.jpg" alt=""></p>
<p>A new listing is a renovated home in Sun Valley priced at $179,000.</p>
<p>The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-sun+valley-133794026" target="_blank">2 Franmaur Street</a> (pictured below).</p>
<p>It comes with three bedrooms, lounge and dining areas, functional kitchen and covered entertainment area. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/sun%20valley%20.jpg" alt=""></p>
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Gladstone sees limited renovation activities: HTW residential 

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<p>The effects of COVID-19 on Mildura housing market are mostly limited at this stage to reduced sales volumes, as vendors and purchasers take time to weigh up the implications, according to the latest Herron Todd White (HTW) residential report. </p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"As we move through another month of COVID-19, there is a feeling that, in our region at least, we have mostly escaped the virus itself. There were a handful of cases identified in April, but none </span>in the past month and our community can see a path back towards a more normal life.</p>
<p>"However our economy has been detrimentally affected, with a rise in unemployment resulting from the shut down of many businesses, especially those that rely on tourism or hospitality," the valuation firm said. </p>
<p><span>The HTW report notes the effects have been most evident at the middle and upper end of the market. Agents have welcomed a return to being able to hold open inspections, which they hope will provide greater activity and confidence, however it is still too early to know what the lasting effects will be.</span></p>
<p><span>Local builders still report being busy completing work that started pre-COVID-19, and a drive around our new subdivisions shows that new construction is underway, however it is expected that the number of new builds will be reduced to some degree over the next 12 months as some people re- think their ability to take on debt at this time.</span></p>
<p><span>"There is no doubt that many people have had more free time, either through reduced employment or less recreation options on weekends. For many, this time has been devoted to some DIY maintenance in and around their homes. The Bunnings carpark test suggests that home improvement sales have been strong," the valuation firm said. </span></p>
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<p><span>Renovating older homes for a profit has not been a common activity in Mildura, in part due to a lack of older homes with enough character to be popular with owner-occupiers.</span></p>
<p><span>"We simply don’t have the stock of pre 1950s homes. There are some scattered examples though and these are usually found in preferred positions on Mildura’s west side or close to the CBD and Murray River," the valuation firm said. </span></p>
<p><span>There is considered to be good potential to renovate homes built in the 1950s and 1960s. These homes are usually conite clad, which was a building technique popular in Mildura, but rarely found elsewhere, the report noted. </span></p>
<p><span>Many examples have reasonably large rooms and the ability to extend in a complementary way.</span></p>
<p><span>A well renovated home from this era will fetch similar values to new homes built in a new subdivision, but comes with the benefit of larger land size and superior position.</span></p>
<p><span>A current listing is a 1950s weatherboard home in Mildura priced at $260,000 to $285,000.</span></p>
<p>The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-mildura-133788118" target="_blank">817-819 Fourteenth Street</a> (pictured below).</p>
<p>It features original kitchen, formal lounge, and open fire place. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/mildura%201.jpg" alt=""></p>
<p><span>For those after a less expensive challenge, there is also the potential to modernise homes built in the 1980s. </span>This is considered a good option for owner-occupiers.</p>
<p>With many local tradespeople and suppliers of floor coverings, kitchen cabinetry etc. less busy at present, now may be a good time to do this upgrading, the report noted. </p>
<p>A renovated weatherboard family home in Irymple has recently been sold for $535,000.</p>
<p>The country homestead at 3538 Benetook Avenue (pictured below) comes with four bedrooms, study, central kitchen, two bathrooms and decked entertaining area. </p>
<p>It is situated close to Irymple and Mildura's shopping precincts. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/irymple%201.jpg" alt=""></p>
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Mildura home improvement sales remain strong: HTW residential 

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<p>The initial stages of the COVID-19 crisis caused many sellers to shut up shop and batten down the hatches, according to the latest Herron Todd White (HTW) residential report. </p>
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<p>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<p><span>"First up – let’s address the current state of play under COVID," the valuation firm said. </span></p>
<p><span>The report notes some buyers believed they were about to snatch up outrageously good deals.</span></p>
<p><span>The market then settled quickly into a standoff where potential purchasers came up against a lack of stock. As such, transaction numbers dropped dramatically, but prices didn’t.</span></p>
<p><span>Now, three and half months in, the state of play is established. There is a still a wait-and-see approach being taken by owners, so buyers don’t have a heap to choose from. Prices are softer across many markets but they didn’t plummet like some may have predicted.</span></p>
<p><span>"Of course, this is an evolving situation. As we move through the machinations of the economy over the next six months - with politics, employment, finance, immigration and trade all playing their parts - thing could be turned on their head. It’s a case of wait, watch and see.</span></p>
<p><span>"Of course, the crisis has delivered us something that was in short supply for the average Aussie family – time," the valuation firm said. </span></p>
<p><span>Requests from leadership that we stay in and keep each other safe had many running to Netflix and home offices, but there was also a fair proportion of the population who used the opportunity to tackle odd jobs around the house.</span></p>
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<p><span>"Skip bins and Bunnings lines revealed that when presented with the chance to do nothing, many of us actually want to do something productive.</span></p>
<p><span>"That said, most of what we’ve seen around the suburbs was maintenance," the </span>valuation firm said. </p>
<p><span>In Brisbane at least, demand for more extensive building and renovation work looks to have slowed, the report noted. </span></p>
<p><span>Many households stepped through the uncertainty of March and April making plans to ensure that, over the foreseeable future, food would be on the table and a roof would stay overhead. Being frivolous with available cash could be hazardous with unemployment on the rise.</span></p>
<p><span>"As such, we generally observed a slowdown in substantive renovation and construction projects – particularly any ventures that involved signing a contract with a builder or tradesperson.</span></p>
<p><span>"But, as has been said many times before, you need to dig below these broad market generalisations and understand the nuances, because opportunity can be found at certain price points, property types and locations," the valuation firm said. </span></p>
<p><span>For example, prestige property is seeing relatively more renovation upgrades than homes in the affordable price sector.</span></p>
<p><span>The report notes renos of inner-city holdings at the upper-price </span>level have been mostly unaffected by the current environment. Owners are comparatively cashed up and willing to keep spending.</p>
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<p><span>"There’s plenty of reasons why. For starters, the lowest interest rates in living memory are enabling those with good financial standing to get access to cheap money," the valuation firm said. </span></p>
<p><span>In addition, the building industry has become relatively competitive under the COVID regime. Tradespeople are hungry for work and head contractors are willing to compete on price so as to secure a pipeline of projects.</span></p>
<p><span>"The flipside in Brisbane is the investor market. We aren’t seeing landlords looking to spend sums upgrading homes beyond what’s necessary at this stage," the valuation firm said. </span></p>
<p><span>There’s an expectation the rental market will continue to fall in favour of tenants with rising vacancies and falling rents, so investors are wanting to ensure they don’t spend too big too early.</span></p>
<p><span>"One thing that may well stimulate the desire for upgrades among homeowners is the work-from- home phenomena.</span></p>
<p><span>"It’s become evident many of us can operate productively from a home office. It’s also entirely possible on the other side of this event, employers will look for ways to reduce their office footprint, hoping to cut lease costs and improve the bottom </span>line," the valuation firm said. </p>
<p>The outcome may well be property owners seeking ways to adapt their current living space in order to improve their work environment.</p>
<p>Creating a work area that can be shut off from the family space will become an essential element of any home. Even if existing owners don’t look to create that for their own use, a good home office will be a feature in future real estate listings.</p>
<p>If there’s an efficient, cost-effective way to establish an office, then vendors will want to do this prior to selling.</p>
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<p><span>"And so on to locations if you do have a hankering for a renovation project. We’ve looked at a couple of options that might fit the bill," the valuation firm said. </span></p>
<p>For example this one at 17 Hockings Street, Clayfield (pictured below) sold mid-2019 for $660,000 as a renovation project that required a heap of TLC.</p>
<p><span>"No doubt the original features will come up a treat," the valuation firm said. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/clayfield.jpg" alt=""></span></p>
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<p><span>The inner-west suburbs of Paddington, Auchenflower, Bardon and Toowong have been rife with renovation opportunities for decades.</span></p>
<p><span> In fact, there have been a few Brisbane builders who’ve grown their fortunes by concentrating solely on these locations and completing beautiful, multi- million dollar do-ups.</span></p>
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<p><span>For example, this house at 12 Carey Street, Bardon (pictured below) was sold way back in October 2017 for $770,000.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/bardon.jpg" alt=""></span></p>
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<p><span>It received an extensive upgrade to become an ultra-modern four-bed, three-bath, two car home (pictured below) that was purchased in March 2020 for $1.552 million.</span></p>
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<p><span>Family friendly addresses such as The Gap: provide opportunity for those with a tighter budget. </span>Renovatable home are available at the high-$500,000s price point.</p>
<p><span>"For those with a little more to spend, an address such as Ashgrove will set you back closer to $700,000-plus for a home with potential," the valuation firm said. </span></p>
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<p><span>A perennial favourite for fixer-uppers is Petrie Terrace and Spring Hill. There are some raw homes on tiny lots for over $600,000, but it’s all about location here. </span></p>
<p><span>The report notes these suburbs are literally walking distance to the centre of town as well as entertainment and retail precincts. </span>And the results can be spectacular.</p>
<p>For example, a renovated home at 35 Sheriff Street, Petrie Terrace (pictured below) sold in November 2019 for $1,193,888. It’s on 228 square metres of land and provides four-bed, three-bath, three-car accommodation.</p>
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<p><span>"Looking a bit further out and Wavell Heights has good options with very basic renovators in average positions fetching between $550,000 and $600,000 – but you need to be fast as they sell quickly," the valuation firm said. </span></p>
<p><span> Other homes in Wavell Heights that’re in quieter positions with ready access to facilities are fetching between $600,000 and $700,000 for a renovation prospect. </span></p>
<p><span>In these instances, smart renovation work will yield an end value above $1 million.</span></p>
<p><span>For more budget conscious renovation prospects, head a bit further up Gympie Road and check out Aspley and Bracken Ridge where a renovatable </span>home can be purchased in the $500,000s. This area appeals to first home buyers and project- oriented builders.</p>
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<p><span>"A quick tip – make sure you check the town planning guidelines and building codes before proceeding. </span></p>
<p><span>"The renovation options for Brisbane property can be limited by heritage and traditional-character overlays, building heights, setbacks, noise and flooding issues and other designations... and they can be property specific. Just because a neighbour is able to get certain works approved doesn’t necessarily mean you can," the valuation firm said. </span></p>
<p><span>"Finally, while the level of future renovation activity remains generally uncertain, falling sale numbers under current market conditions in the wake of COVID may well fuel a rise in renos, however this will be dependent on indicators such as general confidence in the market, affordability, unemployment and economic conditions." </span></p>
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Brisbane prestige property renovation least affected by COVID-19: HTW residential 

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<p>Sunshine Coast's stock levels continued to remain extremely low with no significant increase in property listings in April and May, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
<p>The HTW report first provided an update on COVID. </p>
<p>"When we try to break down the COVID-19 world and market place, the overarching theme is that we appear to be in a in a state of flux," the valuation firm said. </p>
<p><span>Pressure on owners to sell remains limited but this may be delayed until the various support and stimulus packages come to an end (government’s Job Keeper allowance and bank mortgage holidays).</span></p>
<p><span>"When reviewing valuations of sales completed by </span>our office and specifically properties contracted during April and into May, in excess of 95 per cent of the sales show a discount of five per cent or less from the list price," the valuation firm said. </p>
<p>Also, 98 per cent of the sales occurred within 90 days. As previously stated, it remains extremely important to understand the circumstances of any sales that transact in this period.</p>
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<p><span>"As COVID-19 infection rate results improve and the restrictions start to ease, there is a feeling that there is some light at the end of the tunnel," the valuation firm said. </span></p>
<p><span>The report notes subsequently there have been reports that overall enquiry has increased and open homes are resuming.</span></p>
<p><span>◗ </span><span>Some of the demand has been in the pipeline for some time from a combination of potential purchasers who were in the market prior to the restrictions and upgraders and investors who sold in the first quarter of 2020.</span></p>
<p><span>◗ </span><span>Interest continues to flow with both capital city and ex-pat international purchasers looking to secure property on the Sunshine Coast.Some of this is being fast tracked.</span></p>
<p><span>◗ </span><span>Should this demand be absorbed and if there is an increase in supply in the coming months, it will be interesting to see if there is an increase in new demand to fill the void.</span></p>
<p><span>◗ </span><span>Some new purchasers are wanting to find a bargain, although this is not apparent in the market to date, especially in highly sought after areas.</span></p>
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<p><strong>Now, on to renovation</strong></p>
<p><span>"They say 'idle hands are the devil’s tools', but when the pubs and clubs are shut, there are not too many other options.</span></p>
<p><span>"It appears they pick up a shovel, hammer or a paint brush. During the COVID-19 restrictions, it seems that one valuable commodity has been created....TIME. At the moment, there is plenty going on in the home improvement and maintenance space," the valuation firm said. </span></p>
<p><span>"As we have previously mentioned, stock levels are extremely low. With the combination of these stock levels and the uncertainty of the market, the thought of selling and upgrading the house has slowly been losing some of its appetite, especially if you really like the area you live in," the valuation firm said. </span></p>
<p><span>The feedback from local tradies, hardware shops and garden centres is that business has been pretty good as people look to upgrade their existing property.</span></p>
<p><span>"We have also received feedback that a local swimming pool building franchise has 21 new projects halfway through the month of May compared to seven for all of April. This appears to be occurring right throughout all the established areas of the coast, with older homes being transformed to little gems," the valuation firm said. </span></p>
<p><span>Sure, some of this home improvement activity has been completed to add value to the home so that when they do go to sell, it is presented in the best possible condition, the report noted. </span></p>
<p><span>If the property has a reasonable floor plan, the recent results of these renovated properties have shown good returns. </span></p>
<p><span>"We note that some feedback from agents is that a number of builders have been looking for some little side projects just in case there is a bit of a slowdown in the future." </span></p>
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<p><span>A fully renovated two bedroom apartment in Coolum Beach has recently been sold for $645,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-qld-coolum+beach-133275090" target="_blank">9/1682 David Low Way </a>home (pictured below) comprises two bedrooms, two bathrooms, PAC kitchen and two balconies. </p>
<p><span>It is located within walking distance to cafes, shops and restaurants. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/coolum%20beach%201.jpg" alt=""></span></p>
<p>A current listing is a renovated townhouse in Caloundra priced at $559,000.</p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-townhouse-qld-caloundra-133625798" target="_blank">1/29 North Street </a>(pictured below).</p>
<p>It features open plan kitchen, dining and living, outdoor patios and double lock up garage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/caloundra.jpg" alt=""></p>
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Sunshine Coast's stock levels remain extremely low: HTW residential 

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<p><span>The ACT residential property market continues to be driven by high wages support by strong government employment and low general unemployment, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span> The public service accounts for 42% of the ACT’s total workforce which is heavily responsible for the strong $108,000 per year median income in the ACT. </span></p>
<p><span>The report suggests the high median income keeps property prices on the high comparative to the rest of Australia. </span></p>
<p><span>The median house price in Canberra currently sits at $691,000 (January 2020) compared to the national average of $809,000 (January 2020) making it the 3rd most expensive Australian city behind Melbourne and Sydney.</span></p>
<p><span>A four bedroom house in Gordon has recently been sold for $685,000.</span></p>
<p>Set on 525sqm, the <a href="https://www.realestate.com.au/sold/property-house-act-gordon-133438178" target="_blank">21 Rollins Place home</a> (pictured below) comprises formal lounge, informal living area, kitchen, four bedrooms and study nook.</p>
<p><span>It is located within walking distance to Point Hut Pond, playgrounds, schools, shops and transport. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/28/gordon%20.jpg" alt=""></span></p>
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<p><span>Property under the $600,000 mark continues its popularity among first home buyers, which is likely to continue.</span></p>
<p><span>A current listing is a Harrison townhouse priced at $410,000.</span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-townhouse-act-harrison-133514782" target="_blank">159/22 Kings Canyon Street</a> (pictured below).</p>
<p><span>The townhouse features courtyards, galley style kitchen, large under stair storage and double enclosed garage.  </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/28/harrison.jpg" alt=""></span></p>
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<p><span>The weakening economy due to the Coronavirus pandemic makes short term conditions unpredictable.</span></p>
<p><span> Strong government employment suggests that the ACT’s unemployment rate will </span>remain low and the ACT local economy will remain stronger than other economies relying heavily on private sectors.</p>
<p>However market conditions are unpredictable and the unprecedented circumstances provide little guidance in what may happen in the near future.</p>
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<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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ACT property market continues to be driven by strong government employment: HTW residential 

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<p><span>With its multitude of suburbs, each with their own pros and cons, Tamworth has an area for every home owner for each stage of their property journey, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The report suggests first home owners can be found throughout, but the typical suburbs are South Tamworth, Hillvue and parts of North Tamworth. </span></p>
<p><span>"These suburbs offer older homes with a price tag of $200,000 to $350,000 which will get you a doer-upper at the lower end to a fully renovated 1980s brick dwelling at the upper end. Our demographic here tends </span>to be younger owners either as a single occupier, young couple or family - think 20s to early 30s," the valuation firm said. </p>
<p><span>"Our next demographic is those in their early 30s up to 50. This is where location and size count as typically buyers are looking to be in a good location for their kids to grow up with space to grow and play as the family does. Calala, Moore Creek, North Tamworth and East Tamworth are where we see most of these buyers," the valuation firm continued. </span></p>
<p><span>Young families dominate the newer areas of Calala, Moore Creek and North Tamworth as they are able to secure a newish (less than five years old) four-bedroom, two-bathroom dwelling with no work needed on a comfortable 700 plus square metre lot, all for under $550,000 depending on the home. Those looking for proximity to schools and the CDB focus on the blue chip area of East Tamworth.</span></p>
<p><span>A new four bedroom house on a 700sqm block in Calala is currently on the market with a price of $479,000.</span></p>
<p>Situated at <a href="https://www.realestate.com.au/property-house-nsw-calala-133037706" target="_blank">37 Eagle Avenue </a>(pictured below), the family home comes with three living areas plus covered alfresco living, open kitchen/family/dining room and double garage. </p>
<p><span>Other features include landscaped backyard and stainless steel fittings in kitchen.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/calala.jpg" alt=""></span></p>
<p><span>"While the in town properties certainly attract a lot of buyers, let’s not forget about those who want a bit of space for the horse or motorbike. This is where the small acreage (one to ten hectare) </span>properties of Moore Creek and Daruka come into play.</p>
<p>"Out in these areas, we predominantly see either young families moving for the space or older owners who have raised their families and watched them leave, but are not yet ready to down size," the valuation firm said. </p>
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<p><span>"Once we get to downsizers, all suburbs are fair game with a large range of new and old dwellings on smaller lots with easy maintenance available all over Tamworth," the valuation firm stated. </span></p>
<p><span>New builds in North Tamworth and Calala are very popular, but so are older renovated dwellings in East Tamworth that offer proximity to the CBD, the report noted. </span></p>
<p><span>All in all, every suburb in Tamworth has owners from all stages of their property journey with no one suburb being ultimately dominated by any particular demographic. </span></p>
<p><span>"With the continued low interest rates, we are seeing first home owners stretching that little bit more to secure themselves a property in the more prestigious area of East Tamworth.</span></p>
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<p><span>"Along with this we are seeing first home buyers also getting into bigger, brand new homes in North Tamworth or Calala, where over the years there has certainly been more of a shift towards the younger demographic or first home owner." </span></p>
<p><span>A three bedroom house in East Tamworth has recently been sold for $790,000.</span></p>
<p>Set on a 1,190sqm block, the 1940s house at <a href="https://www.realestate.com.au/sold/property-house-nsw-east+tamworth-132282134" target="_blank">111 Upper Street</a> (pictured below) comes with 4 optional living areas, verandah overlooking the courtyard and single carport. </p>
<p><span>Other features include high ceilings , original stain glass windows, renovated bathroom and under house storage. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/east%20tamworth%20.jpg" alt=""></span></p>
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