<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>Home owners in the Illawarra "tend to come in all shapes and sizes," according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes first home buyers compete with small time investors for lower value properties.  </span></p>
<p>It nominated a $600,000 house in Corrimal, a $400,000 unit in Wollongong, a $425,000 house in Dapto, a $400,000 house in Warilla or a $325,000 house in Nowra.</p>
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<p><span>"Most of the region’s more desirable locations such as the northern suburbs, Shell Cove and Kiama are priced out of reach for most typical first home buyers. Local real estate agents are currently reporting that demand from first home buyers for lower end stock is strong," the valuation firm said. </span></p>
<p><span>A renovated two bedroom house with a big back yard in Warilla has recently been sold for $405,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-warilla-132634154" target="_blank">61 Lake Entrance Road </a>(pictured below), the house features separate lock up garage, outdoor entertaining area and off-street parking for 2 cars. </p>
<p><span>It is situated close to restaurants, pubs, 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/2020/3/23/warrila.jpg" alt=""></span></p>
<p><span>Second home buyers are usually families looking to upgrade out of their first home for some more space or more modern comforts.</span></p>
<p><span> Higher incomes allow the budget to stretch further than a first home buyer and the type of property can vary depending on the buyer’s appetite for doing the renovation themselves or the desire to move straight in and not have to do any work. </span></p>
<p><span>Due to the higher budget, second home buyers are found throughout most parts of the Illawarra. </span>They could be looking at a $1 million house in Thirroul, an $850,000 house in Fairy Meadow or Figtree, a $750,000 house in Horsley or Albion Park or a $600,000 house in South Nowra.</p>
<p>A four bedroom house on a 929sqm of land in Thirroul has been listed for sale with $1.25 million to $1.3 million hopes. </p>
<p>Situated at<a href="https://www.realestate.com.au/property-house-nsw-thirroul-133054114" target="_blank"> 51 George Street</a> (pictured below), the house comprises separate dining, kitchen overlooking the back deck, undercover deck and veranda. </p>
<p>Other features include double garage, high ceilings, ornate cornices and under house 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/2020/3/23/thirroul.jpg" alt=""></p>
<p>Upgraders are transforming some locations such as Fairy Meadow, Towradgi and East Corrimal where the proximity to the beach and Wollongong CBD are attracting families to knock down and rebuild or significantly renovate and extend older style dwellings, the report noted. </p>
<p><span>The last main category of home owner is the downsizer or retiree. Baby boomers are currently making up the vast majority of this category.</span></p>
<p><span>"The needs and wants of the downsizer or retiree will vary depending on a number of influences. Do their children and grandchildren live in the area or are they willing to move to a more comfortable location? Do they want to downsize in size but not in budget? Are they looking to change their family home to something in a lower value bracket that will allow them to use their equity during their </span>retirement?" the valuation firm said. </p>
<p>Semi-modern villas often appeal to this demographic or for those with a bit of cash, a nice modern Wollongong unit with ocean views can be on the agenda.</p>
<p>Harbour Square at 21 Harbour Street is a 2019 built, 33 unit development constructed by a well regarded local builder with two-bedroom units having sold between $900,000 and $1.15 million and three- bedroom units from $1.6 million into early $2 million.</p>
<p>The majority of the units were purchased by local downsizers.</p>
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<p><span>"The residential property market is traditionally made up of various demographics and buyer profiles across the Goulburn region," the valuation firm said. </span></p>
<p><span>The median house price of $430,000 </span>(Realestate.com.au), typically appeals to first home buyers looking to get their foot in the door with older style historic homes centrally located on tree lined streets and within close proximity to schools, parks and the CBD.</p>
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<p><span>However, the ornamental features do come at a cost for these older style properties, as they do require more upkeep and ongoing renovation works.</span></p>
<p><span>The report notes first home buyers are also attracted to the copious amounts of low maintenance house and land packages on offer in the numerous developments located further from the CBD such as the Teneriffe Estate and the Josephs Gate Land Development. </span></p>
<p><span>Many young families who are also priced out of Canberra </span>and the Southern Highlands see Goulburn as an affordable lifestyle alternative. These buyers are particularly more dominant in the executive style residential developments such as the Snow Gums Estate, Platypus Banks Estate and Run-O-Waters.</p>
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<p><span>"These developments are seen as good value for money and provide families with more elbow room for a larger home, shed and backyard," the valuation firm said. </span></p>
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j.ballantyne1990-6AQqhLzZaK

First home buyers compete with small time investors for lower value properties in Illawarra: HTW residential 

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<p><span>The Southern Highlands typically attracts a vast range of buyers within the local residential market, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes the entry level market is dominated by first home buyers and typically makes up a value range of $450,000 to $700,000. </span></p>
<p><span>"For the very entry level, say sub-$550,000, think satellite suburbs such as Hill Top, Colo Vale, New Berrima. We tend to see a large portion of first home buyers unable to afford the more affluent suburbs such as Bowral, however we do see some smaller more affordable dwellings snapped up for under $600,000 on less desirable streets in Bowral such as Price, Thompson and Sheaffe," the valuation firm said. </span></p>
<p><span>A refurbished three bedroom house in Colo Vale has recently been sold for $560,000.</span></p>
<p>Sitting on a 765sqm block, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-colo+vale-132125630" target="_blank">12 Banksia Street</a> (pictured above) comes with open plan living, deluxe kitchen, covered deck and garden.</p>
<p><span>It has easy access to the motorway and is close to Mittagong town centre. </span></p>
<p><span>"As the region continues to grow, we are beginning to see popularity increase for good quality villas and townhouses located within close proximity to central Bowral as well as quality built homes </span>on smaller lots being very popular with local downsizers," the valuation firm added. </p>
<p>Typically, these downsizers are selling large acre lots in Burradoo or surrounds and opting for easier to maintain parcels in good central locations. This area of the market is also popular for retirees from Sydney who come in droves and are chasing good quality product in good central locations close to local schools and townships.</p>
<p><span>The family market is a vast mix of an economic make up with more affluent families looking into prestige suburbs such as Burradoo, followed by new premium estates such as Retford Park and then into East Bowral which is predominantly 20 </span>plus year old project homes.</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/2020/3/23/burradoo.jpg" alt=""></p>
<p>A single level designer home in Burrado is currently on the market with $1.695 million hopes. </p>
<p>The four bedroom, two bathroom house is located at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-133267898" target="_blank">14 Phillip Street</a> (pictured above).</p>
<p>The house features formal living with fireplace, casual lounge and dining, expansive kitchen, and rear garden. </p>
<p>"We are seeing an influx of families from Sydney beginning to populate the Renwick and Tahmoor and Thirlmere area as they are able to commute to Sydney as well as work from home and therefore are able to afford far bigger family homes at far more affordable prices than are available within Sydney," the valuation firm said. </p>
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<p><span>"Looking at shifting demographics within the region, the largest change we have seen over the past several years has been the gentrification of Moss Vale," the valuation firm stated. </span></p>
<p><span> Typically Moss Vale has been the administration capital of the Highlands and considered a working class strong hold and poor sister to Bowral, however over recent times we have seen the main street flourish with several homewares stores, cafes and bars opening their doors as well as many local families moving from other parts of the Highlands into the Moss Vale area. </span></p>
<p><span>"Generally, they are able to get far more bang for their buck than the other established suburbs of Bowral and Mittagong," the valuation firm commented. </span></p>
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First home buyers dominate $450,000 plus Southern Highlands entry level market: HTW residential 

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<p><span>In the lead up to the Northern Territory government election in August this year, there has been a major focus on the current situation regarding crime in Central Australia, with many locals believing it has worsened over recent months, according to a recent Herron Todd White (HTW) residential report. </span></p>
<div><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></div>
<p><span>"It seems to be the hottest topic of conversation around town and on local social media platforms, apart from COVID-19 of course. </span>People are asking the question regarding what impact (if any) this increase in crime might have on property values," the valuation firm said. </p>
<p>Whilst there is anecdotal evidence of people leaving town because they have had enough of the increasing crime and other social issues, it has not become apparent yet that it has impacted on the property market. That is not to say it might be the cause of a downturn in the coming months.</p>
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<p><span>The other factor looming large as a real threat to the health of the local economy (no pun intended) is of course COVID-19. At the time of writing there is uncertainty about exactly how big the impact will be from this crisis, the report noted. </span></p>
<p><span>Central Australia has long relied on the tourism industry as a major employer and revenue generator. With travel restrictions imposed already and the likelihood of more stringent restrictions to come, the immediate future of the tourism industry does not look bright. These restrictions could not come at a worse time, leading into winter, which is peak tourist season.</span></p>
<p><span>"The longer term impacts of these events is difficult to forecast, however with a market that is already in a fragile state, it could prompt a downturn in values as people sell up and leave town or are forced </span>into selling due to financial circumstances," the valuation firm said. </p>
<p>"With no significant capital growth being experienced in recent years, a sudden influx of properties being listed for sale is likely to create an over-supply.</p>
<p><span>"The coming months leading up to August 2020 and beyond have the potential to shape the residential market in Alice Springs for years to come." </span></p>
<p><span>A recent sale in the Alice Springs region is a four bedroom in Gillen. </span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-nt-gillen-133053974" target="_blank">16 Underdown Street</a> family home (pictured below) which includes a granny flat was sold for $425,000. </p>
<p><span>The home features open plan living and dining, games room, alfresco courtyard area and double carport. </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/2020/5/25/gillen%201.jpg" alt=""></span></p>
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<p>A current listing is a three bedroom house in Larapinta priced at $329,000.</p>
<p>The <a href="https://www.realestate.com.au/property-house-nt-larapinta-133561842" target="_blank">9 Saltwell Street </a>home (pictured below) features open plan kitchen and dining, outdoor veranda and carpeted bedrooms.</p>
<p>It also features kitchen with gas cooking, separate toilet and garden space. </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/2020/5/25/larapinta%201.jpg" alt=""></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<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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How will COVID-10 pandemic impact Alice Springs property market: HTW residential 

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<p><span>Jobs and job security are major drivers of our local property market with both of these currently heading in the right direction prior to COVID-19 directives, 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>"Over the twelve months since January 2019, we have seen a trend increase of 7.1 percent in the number of persons employed in the Townsville region. </span></p>
<p><span>"Our unemployment rate is on a downward trend and the higher levels of business confidence and strong rates of job advertising being observed bode well for continued strength in employment creation in the coming months," the valuation firm said. </span></p>
<p><span>"We have a strong pipeline of projects proposed to commence in 2020 or currently underway, with completion of the North Queensland Stadium and its hosting of events now a reality." </span></p>
<p><span>The report suggests this is providing a positive driver along with other proposed inner city projects such as the SeaLink ferry terminal, the Cowboys Centre of Excellence and the 166-room Double Tree by Hilton hotel.</span></p>
<p><span>Detached housing in inner suburbs such as Belgian Gardens, North Ward and South Townsville in close proximity to entertainment and lifestyle hubs are </span>seeing sales rates quickening and selling periods reducing. Sales however are still price sensitive and price movements thus far have been minimal.</p>
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<p><span>"We are however entering a period of unprecedented global economic disruption with COVID-19. Just how this will translate in our local market in terms of jobs and job security will be a major indicator to watch over the months ahead." </span></p>
<p><span>A beachside unit in North Ward has recently been sold for $290,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-qld-north+ward-133163758" target="_blank">11/177 Mitchell Street</a> home (pictured below) comprises two bedrooms, two bathrooms, multiple balconies and secure car space. </p>
<p><span>The complex features resort-style pool and entertaining area. </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/2020/5/25/north%20yard.jpg" alt=""></span></p>
<p>A current listing is a traditional Queensland cottage in South Townsville priced at $335,000.</p>
<p>The two bedroom, one bathroom is situated at <a href="https://www.realestate.com.au/property-house-qld-south+townsville-133146638" target="_blank">12 Sixth Avenue</a> (pictured below).</p>
<p>Positioned on a 721sqm block, it comes with modern kitchen, front veranda, internal laundry and huge yard. </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/2020/5/25/south%20townsville.jpg" alt=""></p>
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<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<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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How will COVID-19 pandemic transform Townsville property market: HTW residential 

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<p>Of the many economic, social and political drivers that influence the South Australian property market, two major drivers continue to be the most prevalent - interest rate movements and political elections, according to a recent Herron Todd White (HTW) residential report. </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 report suggests these two factors are the most visible to the market being heavily publicised in both print and digital media. </span></p>
<p><span>"Interest rate movements are front of mind for first home buyers whilst they directly correlate to a current mortgage holder’s hip pocket," the valuation firm said. </span></p>
<p><span> A rate reduction can allow a first home buyer to enter the market whilst an increase could be the forcing hand for an investor to start selling. </span></p>
<p><span>"Political elections can act as both a hand brake and accelerator," the valuation firm said </span></p>
<p><span> In a pre-election time, market activity can slow given the many unknowns surrounding opposing parties’ election promises. Post-election, the market can see where the goal posts lie </span>and move forward with certainty and stability.</p>
<p>Additionally 100,000 South Australians making up nearly six percent of the state’s population are employed in the public service. Pre-election public servants would be wary of becoming active in the property market with the uncertainty a changing government could have on their employment.</p>
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<p><span>"On a micro level, property markets by region are influenced by a number local drivers," the valuation firm said. </span></p>
<p><span>Broadly the inner and middle rings are influenced by barriers to borrowing and lifestyle choices; the outer ring is influenced by affordability and local employment whilst regional South Australia is influenced by local industry, particularly mining and agriculture, and population movements.</span></p>
<p><span>Of most significance in the current market is the record low cash rate of 0.5 percent.</span></p>
<p><span>"Broadly, we are seeing first home buyers, upgraders, empty nesters and investors all active in the market. The mouth-watering prospect of finding either a fixed or variable home loan rate of sub three percent could be too good to pass up. The activity of these buyers in the market is driving demand for a broad range of property types," the valuation firm said. </span></p>
<p><span>Throughout the metropolitan area, character dwellings remain the most popular with the broad market, the HTW report noted. </span></p>
<p><span>Depending on location, entry points for these dwellings range from $500,000 to $800,000. Characterised by turn of the century cottages and quaint laneways, the inner south-eastern suburb of Parkside is popular for those seeking properties with heritage features.</span></p>
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<p>Achieving a sale price of $683,000, <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-132255646" target="_blank">22 Robsart Street, Parkside </a>(pictured below) typifies this property type. This is a character single fronted cottage providing two bedrooms, one bathroom, off street parking all situated on an allotment of 426 square metres.</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/2020/5/25/parkside.jpg" alt=""></p>
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<p><span>Metropolitan Adelaide has seen an increase in higher density townhouse style development. Driving this market within the inner ring are cashed up empty nesters looking to downsize whilst investors and first home buyers are behind the wheel in the middle and outer rings. </span></p>
<p><span>Within the inner ring, entry price points can be well into the </span>$1 million range whilst within the middle and outer rings, $400,000 is typically the starting point.</p>
<p>Both the sales of <a href="https://www.realestate.com.au/sold/property-house-sa-linden+park-128602902" target="_blank">7A Linden Crescent, Linden Park</a> (pictured below) and 16A Egmont Avenue, Warradale which achieved sale prices of $1.25 million and $545,000 respectively represent these similar property types in differing locations, the report noted. </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/2020/5/25/linden%20park.jpg" alt=""></p>
<p>Appealing to downsizers, 7A Linden Crescent, Linden Park maximises accommodation on a small allotment and includes high quality fixtures and fittings and is located within walking distance of Burnside Village. Appealing to investors and first home buyers, 16A Egmont Avenue, Warradale provides a standard fit-out and accommodation expected of similar stock within the middle and outer rings.</p>
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<p><span>"The CBD apartment market is unique with each new tower providing product appealing to all buyer types," the valuation n firm said. </span></p>
<p><span>Abiding by local planning guidelines and having knowledge of the broad market appeal, CBD apartment developers have to create a multitude of offerings at varying price points. </span></p>
<p><span>The recently constructed seven-level apartment complex Five O Six on Hurtle at 36 Hurtle Square, </span>Adelaide provides an example of this product mix.</p>
<p>Throughout 2019, this building had transactions of multiple apartments with varying floor plans with sale prices ranging from $465,000 for a two-bedroom, one-bathroom, one car space, sixth floor apartment to $2.65 million for a three-bedroom, three-bathroom, four car space, seventh floor apartment.</p>
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<p><span>"There are a multitude of factors driving the South Australian property market on both a macro and micro level. These drivers aid in the decision making of both purchasers and vendors. </span></p>
<p><span>"Awareness of these drivers and the understanding of their effects on the market are critical to making the right decision when the time comes." </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<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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Adelaide property market continues to be driven by interest rate and political elections: HTW residential 

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<p><span>Consumer sentiment is a big driver in Western Australia's property market and due to the recent COVID-19 outbreak, at the time of writing, consumer sentiment is fragile to say the least, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 pandemic 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 report suggests there are many other key local, national and global drivers that influence the property market and these economic drivers are in a constant game of tug-o-war, continuously shifting along a scale between supply and demand - the result of which creates price movement within the property market. </span></p>
<p><span>"In Western Australia, our economy is most heavily influenced by the mineral and gas resources industry. The resources boom has been mentioned in almost every Western Australia segment of the Month in Review in recent years as it has impacted the state so significantly and will continue to do so for the foreseeable future," the valuation firm said. </span></p>
<p><span>Mining projects throughout the state create thousands of jobs through construction work, maintenance, cleaning, machine operation, management etc. These jobs bring in hundreds and sometimes thousands of interstate and overseas workers in what can be relatively short periods of time, due to the enticing remuneration packages offered by large companies that compete for a limited workforce. </span></p>
<p><span>Conversely, when projects </span>come to completion, net migration can turn negative rapidly. The fluctuation of job vacancies and unemployment plays a large role in Perth’s property market as it influences our overall population in significant waves.</p>
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<p><span>"Net state and overseas migration statistics are directly linked to median house price and rental trends. We observe the nearly direct relationship of net migration and median house price growth, the effects of which have an approximate one-year delay," the valuation firm said. </span></p>
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<p><span>Not only does resource sector employment influence migration, it also plainly affects total unemployment. Net migration partially determines the number of people moving into Western </span>Australia to soak up housing stock and unemployment shapes how many residents are in a suitable financial position to make purchases within the property market.</p>
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<p><span>"As we touched on in our September 2019 edition, increased resource investment in 2006 influenced the mining sector across the whole state," the valuation firm said. </span></p>
<p><span>Mineral exports were ramping up as the amount of iron ore Western Australia was capable of exporting quadrupled in value from 2006 to the peak in 2012. This enabled businesses across Perth and regional Western Australia to find space for a number of new job vacancies and in 2006 we saw 31,000 migrants flock to the state, including both net interstate (3,100 persons) and overseas migration (28,070 persons). It didn’t stop there though. </span></p>
<p><span>Migration figures increased again, then had a lull and eventually peaked in 2012 when we saw a total of 58,600 people travel to Western Australia to get their share of the revenue from the resources boom.</span></p>
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<p><span>As mining investment declined, so did the availability of jobs. Some mining construction projects came to completion and this began the increase in unemployment rates. </span>The construction phase had ended, temporary contracts did not get extended and we started to see a significant level of redundancies.</p>
<p>Suddenly businesses were consolidating their workspaces as they employed less and less people. Many office buildings, apartments and land developments were under construction and now coming to completion, however there were no tenants or home buyers to lease or purchase these spaces, the report noted. </p>
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<p><span>The CBD office vacancy rate skyrocketed to over 20 percent and supply severely overshadowed demand, reversing the economic cycle. From here consumer sentiment began to slip and less access to finance stopped any interest from investors and owner-occupiers. Residential rents, office rents and house prices started their slow descent to their current position. </span></p>
<p><span>Net interstate migration has been in the negative since 2014. In 2017, 14,000 people left Western Australia for other Australian states, however since then, both interstate and overseas migration has improved slightly.</span></p>
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<p><span>The trends mentioned above are demonstrated in Figure 3. BHP recruited over 10,000 new employees and contractors between 2008 and past the peak in 2012 as the construction phase progressed to operational. </span></p>
<p><span>When many construction projects came to completion, there was a significant shedding of employment forces. Figure 3 does </span>show that BHP has been ramping up Australian recruitment again in recent years, which aligns with the commencement of its South Flank iron ore development in 2019, and other companies are doing the same.</p>
<p>"The data is not as transparent as it once was, due to the level of employment via third party contractors, hence the clarity of the current situation is difficult to demonstrate," the valuation firm said. </p>
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<p><span>Recent investment into Western Australia’s natural resources has come as positive news for our property market and economy as a whole. </span></p>
<p><span>There are several projects already underway or awaiting commencement in Western Australia and iron ore is dominating the mining sector with an estimated $17 billion worth of projects that will or are generating around 11,000 construction jobs over the next few years, some of which started back in 2018. </span></p>
<p><span>These projects will also employ an approximate 3,000 continuing operational jobs. Many experts have suggested that this will create a mini-boom such as the one seen in the early 2010s, however on much smaller scale.</span></p>
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<p><span>Net interstate and overseas migration has reverted to positive figures again and this has helped to stabilise property values in the Perth metropolitan region.</span></p>
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<p><span>"So how is Perth faring at the moment? Greater Perth’s median house price settled at $478,000 for the December 2019 quarter, falling by 1.2 percent," the valuation firm said. </span></p>
<p><span> Negative house price growth has been easing off for some time now, however the disparity between Perth’s inner and outer suburbs has caused some confusion for homeowners on where we currently sit. A very positive sign for Western Australia is the rebounding of vacant land prices. </span></p>
<p><span>Between the March and December 2019 quarters the median price of vacant land saw three consecutive increases, rising 3.4 per cent from $236,000 to $244,000. Perth hasn’t seen an increase in median vacant land prices since mid 2017 and that only lasted for one quarter.</span></p>
<p><span>Perth’s apartment sector over the past 20 years has been very cyclical, but is maturing rapidly. From 2012 to 2015, Western Australia saw a boom of apartment construction, fuelled by the resource sector</span>.</p>
<p>During this time, demand was high and developers of all kinds jumped in to fill the void with mainly investor grade products and several prestige developments that commanded high values as the market matured. Unfortunately the timing of completion of these was poor and on the downward part of the cycle.</p>
<p>Today Perth’s apartment market is still reeling from a large oversupply in some areas and it does not appear that this supply line will be going away any time soon, with an estimated 1600 new apartments completed in 2019, as well as 800 more anticipated by the end of 2020.</p>
<p>Beyond then, 3,100 apartments are expected to reach completion in 2021 and 2022 (JLL, 2020). This coupled with the 2,400 units currently on the market could mean further price corrections in this segment which is exacerbated by current state government policy directing demand to new supply.</p>
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<p><span>First home buyer locations such as Baldivis, Byford, Ellenbrook and Alkimos have all experienced continued value decreases over the past few years, the report noted. </span></p>
<p><span> Vast land development alongside Perth’s suppressed population growth has spelt disaster for this market segment. Advice from our valuers suggest that there has been little improvement </span>in these areas recently and we don’t hold much hope for the short term either. We do expect to see diminishing rates of negative growth over the medium term as long as economic conditions improve, however recent events have now cast doubt on this.</p>
<p><span>Moving closer to Perth, upgrader locations are faring slightly better than their outer rim counterparts. There has been a mix of value increases and decreases amongst various suburbs, however some recent positive signs include improving selling periods and declining vendor discounting. This can mostly be attributed to home owners heeding advice from their agents and pricing homes correctly from the get-go. </span></p>
<p>Kingsley is a suburb located 16 kilometres north- west of the CBD and is considered an upgrader location. The median house price in Kingsley decreased 0.3 percent during the December 2019 quarter, settling at $543,250. Negative house price growth has diminished over the past four years and hopefully we will see values increasein the medium term.</p>
<p>A four bedroom house in Kingsley is currently on the market with a price guide of over $579,000.</p>
<p>The <a href="https://www.realestate.com.au/property-house-wa-kingsley-133547830" target="_blank">7 Chauncey Court </a>home (pictured below) comes with large family living, two bathrooms, home office, updated kitchen and double carport. </p>
<p>It is situated close to shops and schools. </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/2020/5/25/kingsley.jpg" alt=""></p>
<p>Previous news of positive economic conditions has been a big driver for sales in established suburbs as owners take up the opportunity to upgrade before prices increase.</p>
<p><span>In the south-west part of the state, the recent uptick in activity in the resources sector has seen </span>the number of fly-in-fly-out workers begin to increase for the first time since the winding up of the mining construction boom. While the numbers are a far cry from the previous peak they are definitely improving.</p>
<p>There has been significant investment in the growth of the Talison lithium mine in Greenbushes (north of Bridgetown) as well as the associated infrastructure in the past few years.</p>
<p>On top of this there is a $1 billion lithium processing plant under construction in Kemerton (north of Bunbury). This was expected to bring a large number of workers to these regions however the reduction in the price of lithium has slowed these projects down.</p>
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<p><span>The south-west region relies a lot on local and international tourism. There is much anticipation for the start of the interstate direct flight from Melbourne to Busselton which started in March. </span>The timing, however could have been better as the slow down caused by the reaction to the spread of COVID-19 is likely to limit the number of travellers and tourists visiting the region at a time when it was hopeful there would be a significant increase in this sector.</p>
<p><span>There are a number of large residential subdivisions on the outskirts of Bunbury, Busselton and Margaret River which hold a large number of affordable properties.</span></p>
<p><span>A three bedroom unit in Bunbary was sold for $215,000 in April.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-wa-bunbury-133296874" target="_blank">10/180 Forrest Avenue</a> (pictured below) unit comes with open plan kitchen, meals and family room, outdoor patio area and double garage plus storeroom.</p>
<p>It is situates closed to shopping centres, schools and parks. </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/2020/5/25/bunbury.jpg" alt=""></p>
<p><span>The report notes first home buyer activity has been on the increase in these areas however this is also likely to stall due to the uncertainty over the outcome of the effects of COVID-19. It is anticipated that new building construction is also likely to stall as a result of this.</span></p>
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<p><span>The residential market in Cowaramup has outperformed most other towns in the region. As the number and quality of houses in the suburb increases and the town becomes more established, demand has also increased. Land sales were at their lowest level in ten years in 2019 which is an indication of the low levels of residential land now available in Cowaramup. With good demand and low supply of land, values are expected to increase in the short to medium term.</span></p>
<p><span>Kalgoorlie is the major city within the eastern goldfields region – located some 600 kilometres east of Perth. Known for its gold mines, there have been many excavation projects of all sizes here. KCGM Super Pit produces up to 800,000 ounces of gold annually. The Kalgoorlie-Boulder area has a median house price of $290,000, falling three percent over the December 2019 quarter, however the region has seen some positive signs of late as Piccadilly, South Kalgoorlie, Kalgoorlie and West Lamington experienced quartlerly increases between 0.2 percent and 14.8 percent.</span></p>
<p><span>Hannans, Kalgoorlie and West Lamington also showed annual improvements between 0.8 and 4.2 percent. The price of gold has a direct impact on this town’s prospects as many of the workers live in the region.</span></p>
<p>The report notes gold has been a relatively stable long-term investment over the past 20 years. The recent COVID-19 outbreak could potentially see gold prices increasing further due to investors selling stocks and moving to a safer venture in gold. Conversely, prices could also drop in the short term due to a lack of demand from Chinese manufacturers and jewellers.</p>
<p>In 2019, China held the largest portion of demand in the world for gold at 33 percent, so it will be interesting to see which direction the market shifts towards.</p>
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<p><span>"COVID-19 will no doubt have significant negative economic outcomes. Historically in times of uncertainty investors look to consolidate their capital instead of growing it through new ventures, and this will certainly slow the market down further. </span></p>
<p><span>"Government subsidies and cash rate cuts may come in hopes of stimulating the economy, although it will be hard to curb consumer sentiment when we are faced with a global pandemic.</span></p>
<p><span>"It’s not all bad news though - investors and residents with secure jobs may be able to find great value in the property market over the coming year," the valuation firm said. </span></p>
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<div><span style="text-decoration: underline;"><em>Note regards COVID-19 </em></span></div>
<div>
<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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How will COVID-19 pandemic impact Western Australia property market: HTW residential

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<div>The greater Darwin residential market, like other cities, faces many influences and drivers of market sentiment and ultimately price movement, according to a recent Herron Todd White (HTW) residential report. </div>
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<div>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. </div>
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<p><span>To begin, and more prominent for all regions and sectors of Australia, is the impending economic fallout from COVID-19 or Coronavirus.</span></p>
<p><span>"Without taking away from the seriousness and current health implications of this, we see the wider economic fallout from this virus having a much wider reaching and larger impact on our property market and all markets in general.</span></p>
<p><span>"Without sounding too negative, sentiment will take a battering in the short term, with the long term implications still unknown at this stage. Uncertain times ahead!" the valuation firm said. </span></p>
<p><span>Secondly, and most applicable to Territory markets, is population growth, the report noted. The growth or more correctly, lack thereof, has a very big say in how our local market will go. </span></p>
<p><span>As noted in previous Month in Review issues, Darwin and the wider Territory’s population has been either steady or in decline over the past two to three years, where all other states experienced growth. </span></p>
<p><span>Unfortunately not only does this create a smaller pool of buyers, but local community sentiment takes a hit. While the reduced population number is small, it’s<br>not an increase. </span>People and businesses see this as a negative.</p>
<p>"While we see the long term (two years plus) outlook as relatively positive due to large scale projects currently in the pipeline, this does not relieve current sentiment in the short term.</p>
<p>"Ultimately this leads to a reduction in prices across all sectors of the Darwin property market. We currently have the lowest median house price at $460,065 as at December 2019 (source: REINT) of any capital city and a big reason is due to lack of growth in our population," the valuation firm said. </p>
<p>A four bedroom house in Darwin's northern suburb Leanyer is currently on the market with $469,000 hopes. </p>
<p>The <a href="https://www.realestate.com.au/property-house-nt-leanyer-133068594" target="_blank">2 Ridgehaven Circuit</a> home (pictured below) comes with two bathrooms, family room, kitchen with electric cooking and double carport. </p>
<p>It also features covered patio area, in ground pool and garden shed. </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/2020/5/25/leanyer.jpg" alt=""></p>
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<p><span>The cash rate sits at 0.25 percent (as of 19 March 2020), the lowest in history for our country and with the impending effects of Coronavirus, is widely tipped to reduce further.</span></p>
<p><span>"We saw an uplift in sales volumes for the December quarter with 33.3 percent for dwellings sales across Darwin overall (source: REINT) yet no change, or zero percent in total dollar sales volumes for the quarter. </span></p>
<p><span>"What this is telling us is that the Territory market looks to be turning with regard to volume and we see this trend as likely to continue with lower median home values showing why we can have an uplift of one-third in sales volumes yet no increase in overall value.</span></p>
<p><span>"</span>We see this as a shining light and hopefully a shift in market sentiment that will continue," the valuation firm commented.</p>
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<p><span>A driver of the increased volumes is also the investor market. Corelogic’s March 2020 report shows Darwin as having the strongest gross residential yields of all capital cities at 5.9 percent.</span></p>
<p><span> Whilst most owners are experiencing low or no capital growth, they are underpinned by positively geared assets, a great incentive for those looking to get into the market or avoid the low yields of other capital cities. </span></p>
<p><span>With the financial market and stock exchange facing volatility, bricks and mortar is likely to offer more security to investors.</span></p>
<p><span>It is hard to look past the current situation of COVID-19. This is causing a raft of issues that will have wider reaching implications for the Territory, the report noted. </span></p>
<p><span>Tourism is something that coming into the peak dry season (southern winter months) allows local businesses to really thrive on the back of warm weather. With the recent travel bans, lack of domestic travel and social distancing concerns, it is hard to imagine the local sentiment garnering any positivity.</span></p>
<p><span>The Northern Territory government is delivering a $65 million Jobs Rescue and Recovery Package (source: https://business.nt.gov.au/recovery) stimulus for Territorians that will ease some pain in the short term however with business looking into a lean few weeks and months ahead, the outlook is not great. </span></p>
<p><span>"We see this as having a direct impact on local property markets, particularly commercial, as tenants and businesses feel this pinch. The positive </span>upside is for the residential market where home renovations can be carried out and largely funded by the government," the valuation firm said. </p>
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<p><span>Speaking locally with agents and reflecting on sale data, we are seeing the uptake in sales volumes being driven by first home buyers, reflecting the Commonwealth Government’s guarantor loan scheme where first home buyers can buy properties up to $375,000. </span></p>
<p><span>"We are seeing properties of value with the most activity, with 54% of sales occurring at a price below $350,000 in the inner Darwin unit market," the valuation firm said. </span></p>
<p><span>The inner Darwin unit market has shown a 4.4 percent increase on the December quarter and 13.1 percent on </span>the year in recorded sales volumes (source: REINT).</p>
<p><span>A waterfront apartment in Darwin City has recently been sold for $402,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-133424434" target="_blank">5005/5 Anchorage Court </a>home (pictured below) comprises two bedrooms, two bathrooms, open plan living and dining room and private patio. </p>
<p><span>It also features internal laundry, two basement car parks and complex swimming 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/2020/5/25/darwin%20city%201.jpg" alt=""></span></p>
<p><span>Local commentary around is showing an increase in the younger professional market and first home buyers keen to take advantage of the great schemes on offer. </span></p>
<p><span>"As we continue to ride out the economic impact of the current global economic situation, we believe that this sentiment will continue for our first home buyers throughout 2020,: the valuation firm stated. </span></p>
<p><span>All external issues aside, one factor of the market that we continue to rely on is the strength of the coastal northern suburbs market which continues to buck the trend and ride out outside factors. This is evident with a 61 percent increase in sales volumes for dwellings on the quarter and an increase in median value of 0.4 percent. </span></p>
<p><span>This is </span>not directly attributed to falling prices or cheaper properties, with 33 percent of these properties having a value of more than $600,000. While these are well off the peak of the market, to echo the earlier point, if there is volume first, higher values will come second when an economy begins to turn.</p>
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<p><span>"Generally speaking, wide sweeping societal changes are coming and some are now in force with the key element being the current Coronavirus pandemic. This is tipped to have a huge impact on the wider economy with the brunt of this yet to be felt. However, we are yet to see any direct impact locally here in the property market, although it is early days. </span></p>
<p><span>"Historically, when a stock market crashes we see an asset such as a home being far more illiquid than shares, not to mention that people will always need a place to live. So while we may see fewer transactions in the market, locally the property values may remain insulated from such losses, but this remains to be seen." </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<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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Darwin property market yet to see direct impact of COVID-19 pandemic: HTW residential 

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<p><span>In the second month of 2020, the Hunter region continued to see buzzing activity in the local property market, according to the latest 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 report notes even with the uncertainty of an interest rates move, there was still plenty of activity around the region for both established houses and also people wanting to purchase a block of land to build their dream home.</span></p>
<p><span>"Newcastle is hoping to see market conditions improve further due to the rising population of the city, surrounding areas and also Maitland and Hunter Valley regions fuelling housing demand and relatively healthy housing affordability. </span></p>
<p><span>"The Newcastle and Hunter region is highly likely to see continued growth due to close proximity to major capital cities such as Sydney. </span>As housing affordability becomes a resurgent issue in 2020, capital city residents may once again seek relatively affordable housing in nearby regions or regional areas with high levels of amenity," the valuation firm said. </p>
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<p><span>In terms of residential property, Newcastle has become its own market and no longer relies on Sydney as it once did. </span></p>
<p><span>"In the past 12 months, Newcastle saw a shift in confidence independently of Sydney; we no longer follow suit like we once did. Locally, since the federal election, we have seen </span>an increase in activity from all classes of potential property purchasers," the valuation firm said. </p>
<p><span>There is still a healthy supply of inner city units for sale and with further developments around Hunter and King Streets in Newcastle and also Honeysuckle continuing into the future, perpetuates the old saying of “as long as people buy, they will continue to build them”, the report noted. </span></p>
<p><span>"Savvy property investors are still seeing Newcastle and supporting areas as a great place to invest due to affordability and also strong growth potential," the valuation firm said. </span></p>
<p><span>These investors will be ready to pounce on the best performing pockets which include properties in </span>the Kotara, Islington, Hamilton, Charlestown and Mayfield areas, all located within a 15 minute drive of the Newcastle CBD.</p>
<p><span>"First home buyers in the region are also continuing to purchase established dwellings around the fringes of the city suburbs and also showing keen interest in house and land packages around the Maitland areas of Chisholm, Thornton and Bolwarra, which are all less than a 40 minutes drive into Newcastle city," the valuation firm said. </span></p>
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<p>The trendy inner city suburb of Tighes Hill also saw a record sale price for the year at the end of February of $1.5 million for a waterfront <a href="https://www.realestate.com.au/sold/property-house-nsw-tighes+hill-133013166" target="_blank">Throsby Creek, Sparke Street</a> property (pictured below).</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/2020/5/4/tighes%20hill.jpg" alt=""></span></p>
<p><span>T</span>he largest sale in the affluent suburb of Merewether for the month of February was <a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-132847678" target="_blank">68 Curry Street</a> (pictured below) which sold for just under the $2 million mark at $1.98 million, the report noted. </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/2020/5/4/merewether.jpg" alt=""></p>
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<div><span style="text-decoration: underline;"><em>Notes regarding 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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Newcastle property market likely to see continued growth: HTW residential 

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<p><span>The Albury-Wodonga region boasts around 110,000 people, enjoying one of the most vibrant cross-state regions combining all the Murray River has to offer and beyond north and </span>south of the New South Wales and Victorian borders, according to the latest Herron Todd White (HTW) residential report. </p>
<div><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></div>
<p>"The drivers of the property market are affordability, access to finance, lifestyle, tourism and the buoyancy or otherwise of the Melbourne property market. Different purchasers behave and benefit accordingly," the valuation firm said. </p>
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<p><span>First home owners have options due to a good supply of existing entry level stock and competitive house and land packages from a range of builders in new suburbs on both sides of the border. </span></p>
<p><span>Similarly the upgrading or relocating family in the region can buy existing stock, build or in many cases buy to occupy and also purchase an investment property, often positively geared, the report noted. </span></p>
<p><span>As the regional property market has proven to be a long game, the downsizers, whether local or relocating, receive the benefit of long term growth and a good choice of lower maintenance homes with room for the van or golf buggy.</span></p>
<p><span>Over the past few years, both Albury City Council and Wodonga City Council have undertaken large scale redevelopment projects aimed at revitalising city centres and involving the community in local events, the idea being that the cross city vibe should be complementary rather than us and them.</span></p>
<p><span>The report notes Wodonga is certainly gaining ground with strong sales activity and good growth as locals and visitors alike tap into the north-east offering. </span></p>
<p><span>"The local outlook is much the same as the attitude of the region, positive, proactive, productive and steadily more diverse. </span>It is all here bar the beach and people tend to focus on the things they can change, which from a property perspective is the ability to move within the market and invest further in the market.</p>
<p><span>"No one external big picture factor dominates as low volatility goes hand in hand with stable markets, however as we reach submission deadline, the </span>effects of the emerging COVID-19 pandemic may reach and influence all drivers of all markets," the valuation firm said. </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/2020/5/4/albury%201.jpg" alt=""></p>
<p>A Californian bungalow inspired townhouse in Albury has recently been sold for $675,000.</p>
<p>The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-townhouse-nsw-albury-132951854" target="_blank">692 Jones Street </a>(pictured above). </p>
<p>It features open plan living, dining and kitchen, oak timber flooring and ample 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/2020/5/4/albury%202.jpg" alt=""></p>
<p>A current listing is a 1940s family home located just moments from the Albury CBD.</p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-albury-133379730" target="_blank">717 Jones Street</a> home (pictured above) has been offered for sale with a price guide of $895,000 - $915,000.</p>
<p>Set on a 1,076sqm allotment, it comprise four bedrooms, formal lounge, renovated kitchen, and separate dining room. </p>
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<p><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></p>
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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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COVID-19 pandemic may influence all drivers of Albury property market: HTW residential 

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<p><span>The two biggest drivers of the Tamworth market at the moment are the historically low interest rates and the drought, which despite recent rain has on-going impacts, according to the latest Herron Todd White (HTW) residential report. </span></p>
<div><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></div>
<p><span> The past few years of drought have put a strain on the town’s water supply which despite recent rain has not increased by any significant amount. After having been on water restrictions for over 12 months, residents are wondering whether or not there is a long term solution for the future with Tamworth’s population expected to hit 100,000 by 2040. </span></p>
<p><span>While there </span>are plans in place with a new dam and pipeline underway, confidence will remain low until these projects are completed. The economic effect of the drought saw less money coming into the property market which resulted in a slow-down, the report noted. </p>
<p>"Tamworth as a whole did not see a decline in property values, but we did see an increase in days on market, where houses that traditionally sold in one to two months were taking three to four," the valuation firm said. </p>
<p><span>The report suggests it is not all doom and gloom for Tamworth as the city still offers plenty of appeal for residents, with strong employment opportunities, relatively cheap housing and good services and amenities available.</span></p>
<p><span> Tamworth is a major regional centre and offers quality schools, good health services and </span>a large pool of employment opportunities with blue collar, white collar and everything in between catered for.</p>
<p>"On top of this, a modern four-bedroom, two-bathroom, brick veneer dwelling can be had for under $400,000 (depending on the suburb), making Tamworth very attractive to those finding themselves priced out of the larger cities," the valuation firm said. </p>
<p>A four bedroom house situated in Tamworth CBD has been listed for sale with $399,000 hopes. </p>
<p>Set on a 656sqm block, the <a href="https://www.realestate.com.au/property-house-nsw-tamworth-127288198" target="_blank">9 Lilly Pilly Court</a> home (pictured below) offers 2 bedrooms, open plan living, and fully fenced backyard. </p>
<p>It is positioned close to schools and shops. </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/2020/5/4/tamworth%201.jpg" alt=""></p>
<p>This combined with recent rain and low interest rates has local agents reporting less days on market for sales and more buyer enquiry than experienced in recent months (prior to the rain). This higher buyer interest has not yet resulted in an increase in house values.</p>
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<p><span>The government’s First Home Super Saver and First Home Loan Deposit schemes have seen first home buyers become more active in the Tamworth market. </span></p>
<p><span>Along with the low interest rates we are seeing more people selling to first home buyers and then upgrading, typically leaving South Tamworth, West Tamworth, Hillvue, Oxley Vale and Westdale and moving to Calala, North and East Tamworth, Moore Creek, Daruka and newer parts of Hillvue.</span></p>
<p><span>A Moore Creek house sitting on a 4,152sqm block was sold for $460,000 in February. </span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-moore+creek-132683298" target="_blank">30 Barrington Drive</a> (pictured below).</p>
<p><span>It comes with large open plan living areas, covered entertainment area, double garage, and three bay vehicle steel shed. </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/2020/5/4/moore%20creek.jpg" alt=""></span></p>
<p><span>"Increased confidence in the local economy after the recent rain as well as low interest rates suggest that these trends will continue in the short to medium term. This may be thrown completely out of the window with the current COVID-19 pandemic, but excluding this we expect a slight increase in the property market over 2020." </span></p>
<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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