<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>

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<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>Individuals and families who currently have home loans or are looking to get a home loan have the upper hand as the current market conditions are more favourable towards them, according to the latest 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 main local drivers that influence the property market in Melbourne’s south-east are overseas and interstate migration, affordable housing and infrastructure spending," the valuation firm said. </span></p>
<p><span>Suburbs located within the City of Casey and Cardinia regions located in the outer south-eastern regions of Melbourne have become popular hotspots over the past few years for young families, first home buyers and newly settling migrants </span>looking to buy or build their first home.</p>
<p>This is typically popular in the newer developing estates where individuals and families are able to customise their homes to cater for their individual needs with the aim of having a family friendly lifestyle, the report noted. </p>
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<p><span>Suburbs such as Officer, Clyde and Botanic Ridge are located within the outer south-eastern region of Melbourne where it is most commonly zoned as an urban growth zone.</span></p>
<p><span>A four bedroom house in Officer has recently been sold for $622,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-officer-133333270" target="_blank">19 Harmony Place</a> home (pictured below) comprises four bedrooms, theatre room, open plan living/dining room and modern kitchen. </p>
<p><span>It is close to schools and Cardinia Train Station. </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/officer.jpg" alt=""></span></p>
<p> </p>
<p>A contemporary style family home in Botanic Ridge is currently on the market with a price guide of $719,000 to $769,500.</p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-botanic+ridge-133448782" target="_blank">17 Maintop Ridge </a>(pictured below). </p>
<p>Set on a 661sqm block, the home features central hostess kitchen, study/home office, and rumpus area plus theatre room. </p>
<p> </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/botanic%20ridge.jpg" alt=""></span></p>
<p><span>"The urban growth zones are part of the government’s long term strategic plan of urbanisation and densification for Melbourne’s future designated growth areas. </span></p>
<p><span>"Growth of a community also comes with growth in infrastructure. A local driver such as infrastructure would often be an attractive factor to many as many individuals would be working nearby or would require roads and public transport to travel to work," the valuation firm said. </span></p>
<div><span style="text-decoration: underline;"><em>Notes 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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j.ballantyne1990-6AQqhLzZaK

Outer South East Melbourne - hotspot for first home buyers: HTW residential 

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<p><span>The volatility of world equity markets can heavily affect property prices and the general market trends we see in property cycles, 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>"World recessions such as the Global Financial Crisis, the current global COVID-19 pandemic and domestic natural disasters such as the bushfires that ravaged this country in 2019 and 2020 can have significant economic consequences, especially in the property markets," the valuation firm said. </span></p>
<p><span>One of the major emotional influences that crises have on decision-making is that they </span>create uncertainty in an investor’s mind, the HTW report noted. </p>
<p>Periods of prosperity create confidence and willingness to invest due to the abundance of resources and the ability to create and expand upon what we already have, while crises seem to force individuals to retreat and protect what they own as a natural human response to fear and uncertainty.</p>
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<p><span>In the last year, the wider Melbourne property market has been showing significant signs of growth, prosperity and high clearance rates at auctions, especially in the last quarter of 2019 and early in 2020. </span></p>
<p><span>"Until now, there has been talk about the property market developing momentum, with the interest cuts we saw the RBA make last year and the easing in credit conditions after a lengthy period of speculation following the banking Royal Commission," the valuation firm said. </span></p>
<p><span>The report suggests at present, the property market faces a period of uncertainty as the world is coming to grips with the growing concerns over the Coronavirus. The function of most normal businesses and social practices is halting as the world is battling the virus. This has and will continue to have an impact on the property market.</span></p>
<p><span>"I foresee a limited availability in supply of houses and apartments in the coming months, limiting the opportunity for new home buyers and investors to purchase property. </span>As the government increases restrictions on public gatherings and businesses are likely to work remotely, we will see a decrease in inspections and auctions. This will have a dramatic effect on the marketability of properties.</p>
<p><span>"While the government is enforcing restrictions on businesses, public events and individuals to carry out daily activities, we will see the market recede. </span></p>
<p>"The ideal outcome is that amidst the growing concerns of the virus spreading, vendors and buyers continue to engage in selling and buying properties to continue economic growth. This will keep the economy from flatlining as experts foresee in other industries that are built on face to face contact such as the education, tourism and hospitality sectors," the valuation firm said. </p>
<p>A two bedroom unit in East Melbourne's Ringwood has recently been sold for $550,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-vic-ringwood-133400038" target="_blank">3/326-328 Maroondah Highway </a>unit (pictured below) comes with lounge and dining, light kitchen, rear courtyard and single garage. </p>
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<div>It is surrounded by parklands including Mullum Mullum Creek and East Ringwood Reserve. </div>
<div><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/2020/5/11/ringwood%201.jpg" alt=""></div>
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<div>A three bedroom weatherboard house in Box Hill is currently on the market with $1.5 million to $1.65 million hopes.</div>
<div> </div>
<div>The <a href="https://www.realestate.com.au/property-house-vic-box+hill-133401882" target="_blank">434 Mont Albert Road </a>home (pictured below) comprises three bedrooms, two bathrooms, lounge with open fireplace and double garage. </div>
<div> </div>
<div>It also features Modern Bosch kitchen, front verandah and large back deck. </div>
<div><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/2020/5/11/box%20hill.jpg" alt=""></div>
<div><span style="text-decoration: underline;"><em> </em></span></div>
<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>
</div>
<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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East Melbourne property market expected to recede during COVID-19 pandemic: HTW residential 

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<p><span>Changes in both monetary and fiscal policy tend to have a more direct impact on the property market in suburbs located in the outer north Melbourne as purchasers in these areas are predominantly first home buyers and local investors, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>The HTW report notes most of these purchases are strongly influenced by either changes in first home buyer grants or interest rate changes.</span></p>
<p><span>"Some of the local drivers for the outer northern property market include the availability of more affordable housing and recent infrastructure expenditure", the valuation firm said. </span></p>
<p><span>The commencement of the northern roads upgrade is a notable example of this and has helped to ease congestion in the area, improving buyer sentiment and proving to be a key local driver for demand.</span></p>
<p><span>Recent relaxation of lending since the banking Royal Commission has resulted in young families and first home buyers looking at more affordable dwellings that the outer north offers, the report noted. </span></p>
<p><span>The effect of this appears to have aided in maintaining demand for property in the area as prospective purchasers begin to extend their search further north.</span></p>
<p><span>The report suggests new migrants to Melbourne opting to settle in the outer north also make up a significant portion of first home buyers.</span></p>
<p><span>"Properties below the $600,000 price point appear to do well in the outer north market as there is high demand from first home buyers and investors. High specification dwellings in predominantly first home </span>buyer suburbs tend to remain on the market longer than average and are less sought after," the valuation firm said. </p>
<p>A three bedroom house in Lalor has recently been sold for $590,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-lalor-133406954" target="_blank">26 Vanessa Avenue</a> house (pictured below) comes with modern kitchen, open plan lounge, renovated bathroom and double garage. </p>
<p>It's located close to train station, buses, schools and shopping. </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/2020/5/11/lalor%20.jpg" alt=""></p>
<p>A current listing is a Bundoora two bedroom unit priced at $487,000 to $535,000.</p>
<p>The <a href="https://www.realestate.com.au/property-unit-vic-bundoora-133481222" target="_blank">1/52 Nickson Street unit</a> (pictured below) features<span> large lounge, spacious kitchen, separate laundry, courtyard, and garden shed.</span></p>
<p><span>The home is situated within close proximity to <span> the Square, park, tram, universities and hospital.</span></span></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/2020/5/11/bundoora.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>
</div>
<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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Northern Melbourne sees high demand from first home buyers and investors: HTW residential 

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<p><span>Melbourne’s west has been the nation’s strongest growing region over the past five years, 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>Data shows that seven of the top ten best performing regions in Victoria are from the west.</span></p>
<p><span>The HTW report suggests population growth and relative affordability are the main driving forces which have caused this strong growth throughout the west.</span></p>
<p><span>"More businesses moving to the area has created many different employment opportunities. There is new infrastructure and new schools and transport options have increased and are improving. These things are only going to keep pushing people to these areas," the valuation firm said. </span></p>
<p><span>Two years ago, families were being beaten out by developers, but times have since changed and it is evident that family buyers have returned to the market. It was becoming unaffordable and now prices have dropped back to an affordable level and buyers are back.</span></p>
<p><span>Families and first home buyers are taking over the market. Young families are coming in and demanding more local schools and people are starting to view the area as affordable and one that has potential.</span></p>
<p><span>"Affordability is obviously a huge factor driving people west. There is a lot of urban revitalisation happening in the inner west," the valuation firm said. </span></p>
<p><span>A two bedroom apartment in Melbourne's inner west suburb Footscray has recently been sold for $352,800.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-apartment-vic-footscray-132998038" target="_blank">2/250 Gordon Street </a>home (pictured below) offers two bedrooms spacious lounge, separate kitchen and meals area and fully tiled bathroom. </p>
<p><span>It's within close proximity to public transport, shops and restaurants. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/footscray.jpg" alt=""></span></p>
<p><span>A current listing is a three bedroom Yarraville house priced at $900,000 to $990,000.</span></p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-yarraville-133393258" target="_blank">63 Benbow Street</a> home (pictured below) comprises modern kitchen, family living room, large alfresco and rear yard plus double carport. </p>
<p><span>The location is close to primary school, shops, park and freeway. </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/2020/5/11/yarraville.jpg" alt=""></span></p>
<p><span>Housing quality in Melbourne’s west has also </span>improved as there are some nice new homes that are lifting the value, the report noted. </p>
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<p><span>While there was a stigma attached to parts of the west, the schools, transport and new infrastructure on offer are great drawcards.</span></p>
<p><span>"With this all said, it’s difficult to know what lies ahead for Melbourne’s property market in its entirety. </span>It’s still too early to predict the full scale of the long term impact of the Coronavirus, given that the Australian outbreak is in its early stages, but there are two unknowns that could compound any fall in prices: unemployment and the prospect of a looming recession.</p>
<p><span>"Although the threat of Coronavirus is omnipresent, there’s reason to suggest the housing market could be relatively insulated, compared to financial markets." </span></p>
<div><span style="text-decoration: underline;"><em>Notes 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>
</div>
<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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Affordability drives strong growth in West Melbourne property market: HTW residential

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<p><span>Geelong has entered 2020 with a solid foundation to make sustainable capital growth this year due to a number of market forces drawing people to the region, according a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>The final CoreLogic Home Value Index for 2019 revealed a rising rate of growth over the past three months that had pushed the city’s median dwelling value to almost $560,000.</span></p>
<p><span>A waterfront penthouse apartment in Geelong is currently on the market with a price guide of $595,000 to $635,000.</span></p>
<p>The <a href="https://www.realestate.com.au/property-apartment-vic-geelong-133190318" target="_blank">9/50 Eastern Beach Road</a> home (pictured below) comprises two bedrooms with ocean views, balcony, lounge room and light filled kitchen.</p>
<p>It also features updated bathroom and split system heating and cooling.</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/2020/5/11/geelong.jpg" alt=""></p>
<p><span>This rebound in Geelong's property market was </span>brought on by reduced mortgage rates easing borrower serviceability assessments, improved housing affordability and certainty around property tax laws, the HTW report noted. </p>
<p>"Obviously due to its smaller scale than Melbourne, Geelong doesn’t showcase the same kind of employment rates that Melbourne does, however the potential is there. With the region growing fast, employment opportunities will continue to grow in just about every aspect," the valuation firm said. </p>
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<p><span>With this, a number of new primary schools have </span>been introduced to the ever developing surf coast regions such as Armstrong Creek and Warralily.</p>
<p><span>A four bedroom house in Armstrong Creek has recently been sold for $517,000.</span></p>
<p>Set on a 405sqm block, the <a href="https://www.realestate.com.au/sold/property-house-vic-armstrong+creek-133195642" target="_blank">45 Mallaccota Crescent </a>home (pictured below) comes with open plan living, Caeserstone kitchen, and double garage. </p>
<p><span>It's located within proximity to the surf coast, train station and shopping centre. </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/2020/5/11/armstrong%20creek.jpg" alt=""></span></p>
<p><span>"Geelong boasts a number of the factors that make an area stick out as a place with high growth potential," the valuation firm said. </span></p>
<p><span>Some of these factors include large infrastructure projects currently underway, vacancy rates and rental yields that continue to increase and a population that is growing.</span></p>
<p><span>"Like all of Australia, it is uncertain how the COVID-19 pandemic will actually affect the property market. A number of experts have put their views forward with some believing the market and its drivers will remain stable whilst others believe it will impact negatively," the valuation firm said. </span></p>
<div><span style="text-decoration: underline;"><em>Notes on 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>
</div>
<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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Geelong property market remains uncertain during COVID-19 pandemic: HTW residential 

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<p><span>The Sunraysia market is driven by a number of influences, particularly local population growth, employment prospects and interest rates, 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>The HTW report suggests the availability of credit also affects the number of buyers.</span></p>
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<p><span>"Our key horticultural industries have been one of the main drivers of local economic activity. Growers have been busy developing new plantings of table grapes, citrus and almonds, which has had a significant flow on effect through our economy. Our local service and industrial industries have benefited from the stronger confidence," the valuation firm said. </span></p>
<p>"Investors are generally purchasing lower priced properties due to high rental yields and an attractive entry point into the market." </p>
<p>These include older dwellings that have yet to receive any significant recent renovations as well as units that are low maintenance and provide an investor with high rental yields.</p>
<p>A four bedroom house situated close to Mildura CBD was sold for $290,000 in April.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-133248886" target="_blank">2 River Parade</a> home (pictured below) comes with spacious lounge, fully appointed kitchen with adjoining meals area, and rear yard.</p>
<p><span>The rear yard allows for an extension or landscaped gardens. </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/2020/5/11/mildura%20.jpg" alt=""></span></p>
<p><span>Higher priced properties are predominantly purchased by upgraders as well as people downsizing from out of town into large, high end homes but usually with a smaller, easier to maintain allotment.</span></p>
<p><span>A resort-inspired family home in Nichols Point was sold for $900,000 in March. </span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-nichols+point-133036758" target="_blank">2 Forrester Court</a> house (pictured below) comes with four bedrooms, gourmet kitchen, vast living spaces, and triple garage. </p>
<p><span>It also features fames room, theatre room, heated pool and tennis court. </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/2020/5/11/nichols%20point%201.jpg" alt=""></span></p>
<p><span>"The stronger rural land values over the past three to four years have allowed many retired farmers to be able to afford better standard homes in their retirement than was previously the case," the valuation firm said. </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>
</div>
<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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Mildura property buyers affected by availability of credit: HTW residential 

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<p><span>Shepparton’s market is being driven by a splash of spending on public infrastructure as well as a flurry of construction activity for private businesses, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>The report notes many local manufacturing businesses are expanding to larger scale premises, which is having a flow through effect on the whole market. </span></p>
<p><span>"As stated in previous Month in Review entries, the hospital expansion is bringing a wealth of jobs for both short term construction and ongoin </span>medical staff, as is private sector allied health work, which is bringing population movements from outside the Goulburn Valley. This has been steady now for the past 12 to 18 months and will continue throughout 2020," the valuation firm said. </p>
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<p><span>"The land situation in the area is tightening, with a number of larger estates being in their last stages</span>.</p>
<p>"This will start to put upward pressure on land values, the likes of which we haven’t seen in over a decade. This will hit first home buyers the hardest as they make up a large chunk of the new home builder pool," the valuation firm added. </p>
<p>"Investors are still in the area chasing the strong yields that we have to offer, but the intensity the out of town investors brought six to 12 months ago has cooled off. Unit prices have started to bounce back with a couple of good results recently." </p>
<p><span>"Overall the market is still performing strongly with sustainable growth rates. Many agents are reporting sub 30 days on market and have been for an extended period." </span></p>
<p><span>A five year old dormer display home in Shepparton was sold for $480,000 in April.</span></p>
<p>The three bedroom, two bathroom house is situated at<a href="https://www.realestate.com.au/sold/property-house-vic-shepparton-132632146" target="_blank"> 72 Canterbury Avenue</a> (pictured below).</p>
<p><span>It comes with two living areas, centrally located kitchen, study and large rear garden.</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/2020/5/11/shepparton%202.jpg" alt=""></span></p>
<p> </p>
<p>A current listing is a three bedroom house situated close to Shepparton CBD. </p>
<p>The <a href="https://www.realestate.com.au/property-townhouse-vic-shepparton-133123538" target="_blank">1/19 Middleton Street</a> home (pictured below) has been listed with a price guide of $335,000.</p>
<p>It comes with open plan living, private patio area, kitchen, front courtyard and double garage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/shepparton%203.jpg" alt=""></p>
<p><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></p>
<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>
</div>
<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>
</div>
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Shepparton property market performs strongly with sustainable growth rate: HTW residential 

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<p><span>The quick progress of COVID-19 has brought swift ramifications for the real estate industry, 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>"No open homes, no in-room auctions. In short, professionals are having to adapt quickly to ensure the economic wheels keep turning.</span></p>
<p><span>"It would come as no surprise that the overriding element at present is the medical, social and economic fallout from virus control measures," the valuation firm said. </span></p>
<p><span>"In Brisbane, the full effect is still to play out, but we can at least take some comfort in not having to deal with population densities like Sydney and Melbourne. A small blessing for the Sunshine State," the valuation firm commented. </span></p>
<p><span>"For the sake of this month’s submission, let’s look beyond COVID-19 and set aside the economic downturn and recovery period to some degree (as we’re not certain as yet how long this challenging time will last)."</span></p>
<p><span>"So, what are the elements that traditionally drive the Brisbane market and how might they look in the future?</span></p>
<p><span>"The metrics and measures we’ve customarily watched as Brisbane property indicators have included the general economic outlook (nationally and locally), employment numbers and job security, </span>interstate migration, wage growth, interest rate movements, local, state and national elections and the availability of finance," the valuation firm said. </p>
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<p><span>It’s a complex dance of interaction between these components that sets the level in terms of activity and price growth potential.</span></p>
<p><span>"To give some perspective, 2019 saw a somewhat challenging start in the first half of the year with a number of headwinds. These included the banking royal commission that led to a redefining of lending policies by financiers. There were mid-year elections plus a feel that southern markets had overheated as well.</span></p>
<p><span>"We were also struggling to get our Queensland unemployment rate lower. </span>All these elements contributed to our unimpressive residential market performance and general confidence," the valuation firm said. </p>
<p><span>Then, the second half of 2019 saw a market back on the rise.</span></p>
<p><span> There was an increase in confidence as lending restrictions were loosened, Brisbane’s major infrastructure projects got underway </span>in earnest and interstate migration numbers continued to improve.</p>
<p><span>It was, for all intents and purposes, looking like a very promising 2020 before the handbrake was applied by the pandemic, the report said. </span></p>
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<p><span>"Of course, once we pass through this time of uncertainty, Brisbane property operators will be looking overall for leading indicators such as employment and wages growth," the valuation firm said. </span></p>
<p><span>The report suggests there will no doubt be an appetite for infrastructure projects to be back on track and, as mentioned, that all important net interstate migration number.</span></p>
<p><span>For those interested in some nuances, there are different drivers for different buyer types.</span></p>
<p><span>For example, first home buyers in Brisbane are traditionally stimulated by affordability, the level of competition from investors, first home buyer’s grant and stamp duty incentives, interest rate reductions and the ability to save for deposits and get finance. </span></p>
<p><span>Some of these measures won’t be applicable in the immediate wake of COVID-19, e.g. interest rate falls. That said, when markets return to normalcy, this list of drivers will be applicable.</span></p>
<p><span>For upgraders, interest rate reductions have been a keen driver of markets. The ability to draw on built up equity and borrow at a competitive rate has prompted many to act in the past. Of course, with rates being used as a lever to stimulate </span>the economy at the moment, their ability to substantially drive the upgrader sector post- COVID-19 will be some time off, the report noted.</p>
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<p><span>Empty nesters who’d been looking to downsize and move closer to the city were, in the past, driven by the improvement of lifestyle factors. This would include the development or upgrade of community- centric hubs such as cafés and restaurants. </span></p>
<p><span>Those who are self-funded can also be prompted to </span>move in response to available property types – in particular high-end apartment accommodation – where they can enjoy a comfortable, low- maintenance lifestyle with the ability to lock-and- leave for travel. Again, elements that may be some way off after the crisis passes and we’re on the road to recovery.</p>
<p><span>"Local drivers by property type aren’t particular to Brisbane. What traditionally applies here could well apply to most capitals on the eastern seaboard," the valuation firm said. </span></p>
<p><span>For units, the influence of oversupply and undersupply is paramount. Brisbane saw the fallout of new build oversupply during 2017 to 2019 as off-the-plan product came to completion.</span></p>
<p><span> Many revaluations were coming in below the original purchase price. </span></p>
<p><span>"During 2019, we were seeing a pick- up in absorption of this oversupply, but the post- 2020 market is more uncertain at this stage," the valuation firm said. </span></p>
<p><span>The thing to keep in mind regarding apartments is that good quality stock which appeals to owner- occupiers is often well received, the report added. </span></p>
<p><span>It’s this type of unit that will receive increased buyer interest post-2020. This includes units of good size and with a practical floorplan within close proximity of desirable hot spots. </span></p>
<p><span>In comparison, typical investor style apartments in secondary locations will have less growth potential.</span></p>
<p><span>A two bedroom apartment situated in the Brisbane CBD was sold for $477,000 in April.</span></p>
<p>The 145sqm apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-brisbane+city-127595854" target="_blank">405/108 Albert Street </a>(pictured below) features a large fully enclosed courtyard with lush surroundings. </p>
<p><span>The home comprises two bedrooms, two bathrooms, modern kitchen, secure car park and storage cage. </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/2020/5/11/brisbane%20.jpg" alt=""></span></p>
<p><span>Similarly, townhouses within the inner city have performed well in comparison to those positioned in outer-lying suburbs. </span>That said, performance can be project specific.</p>
<p><span>Broadly speaking, well located, quality townhouse projects catering </span>to the owner-occupier market have performed better, with stronger demand and value levels that are more resilient.</p>
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<p><span>A current listing is a Paddington townhouse priced over $699,000.</span></p>
<p>The three bedroom, two bathroom townhouse is situated at <a href="https://www.realestate.com.au/property-townhouse-qld-paddington-133105886" target="_blank">1/23 Royal Street </a>(pictured below).</p>
<p><span>It features open plan dining, modern kitchen, living room, private courtyard and garden 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/2020/5/11/paddo.jpg" alt=""></span></p>
<p><span>And of course, detached housing is the stalwart sector. Houses closer to the city tend to retain and grow in value better than those located further on the fringe. High demand and limited stock is the equation that’s driven this traditionally, the report noted. </span></p>
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<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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Brisbane unit market remains uncertain during COVID-19 pandemic: HTW residential 

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<p><span>Up until the recent outbreak of the Coronavirus, it appeared that there was a sense of confidence in the central Gold Coast local property market from both investors and owner-occupiers, 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>The report notes local agents had been reporting good levels of buyer enquiry for a broad range </span>of residential property in the first couple months of 2020 which has been positive.</p>
<p>This level of optimism can be attributed to the low interest rate environment and to some extent, the latest upturn in the Sydney and Melbourne housing markets.</p>
<p>With some signs indicating these capital cities being on the bounce again, many buyers have been turning their attention to the central Gold Coast area due to the attractive price points.</p>
<p>"The key local drivers for this region include a wide array of lifestyle options, with good accessibility to amenities and greater job opportunities (compared with the quieter coastal and rural districts)," the valuation firm said. </p>
<p><span>"In light of recent events (Coronavirus and the subsequent stock market falls) it will become more apparent that buyers will be paying greater attention to national economic indicators but these buyers will also need to focus on local concerns," the </span>valuation firm said. </p>
<p><span>The central Gold Coast region is heavily reliant on </span>the construction and tourism industries, the report noted. </p>
<p>These industries support a huge amount of the population for the area in terms of providing jobs and stability for the local economy.</p>
<p>"It will be interesting to see how these industries fare in the next few months and what impact it will bring on the local property market if the recent events continue to escalate," the valuation firm said. </p>
<p>A two bedroom townhouse in Gold Coast's inner city suburb Bundall has recently been sold for $526,000.</p>
<p>The<a href="https://www.realestate.com.au/sold/property-townhouse-qld-bundall-132988766" target="_blank"> 6/9 Freyburg Street</a> home (pictured below) comprises open plan living and dining, two bedrooms with a shared balcony, courtyard and two car accommodation. </p>
<p>It's situated within walking distance to shops and restaurants. </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/2020/5/11/bundall%20.jpg" alt=""></p>
<p>A current listing is a Surfers Paradise beachside apartment priced at $399,000.</p>
<p>The two bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-133328706" target="_blank">10 Vista Street </a>(pictured below). </p>
<p>It features north facing balcony, sliding doors and windows, open plan living and skyline views. </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/2020/5/11/gold%20coast%202.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>
</div>
<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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Key drivers for Central Gold Coast property market to be impacted by COVID-19 pandemic: HTW residential 

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<p><span>Most investors appear to be acutely aware of the current interest rate and predictions of it being on the decline, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The HTW report suggests this has put a positive slant on the Gold Coast Central North local market. Another positive is the general optimism </span>in the national economy, however this is now very fluid due to the Coronavirus pandemic, with some local agents reporting a fall in enquiries.</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>"A major factor on the Gold Coast is the perceived low values of properties compared to the capital cities such as Melbourne and Sydney and overseas markets," the valuation firm said. </p>
<p><span>A major local influence on the Gold Coast has always been proximity to water, whether beach, broadwater, river, lake or canal. </span></p>
<p><span>Secondary location factors are proximity to the perceived better schools, commercial precincts and public transport corridors such as proximity to the new light rail or access to M1 motorway, the report noted. </span></p>
<p><span>First home buyers are most influenced by budget and need for compromise. Many are buying small lowrise units in the older areas such as Southport or driven to the north-west corridor developing area. Upgraders are driven more by location </span>(i.e. water locations).</p>
<p>A first floor apartment situated in the heart of Southport has recently been sold for $240,000. </p>
<p>The<a href="https://www.realestate.com.au/sold/property-unit-qld-southport-132891778" target="_blank"> 9/14 Rose Street</a> home (pictured below) was last sold in 2013 for $299,000.</p>
<p>It comes with one bedroom, one bathroom, modern kitchen and outdoor balcony. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/southport.jpg" alt=""></p>
<p>Empty nesters are usually seeking smaller dwellings in locations with good proximity to health services and established commercial precincts.</p>
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<p><span>"A major factor has been the oversupply of medium to high density housing such as modern medium rise apartments and townhouses. We have seen a dramatic decrease in demand for this type of property," the valuation firm said.</span></p>
<p>A three bedroom townhouse in Southport is currently on the market with a price guide of over $449,000.</p>
<p>The <a href="https://www.realestate.com.au/property-townhouse-qld-southport-133020038" target="_blank">15/2 Bronberg Court</a> townhouse (pictured below) features large kitchen, lounge with ceiling fan, and undercover alfresco. </p>
<p>It is located <span>within easy access to public transport, schools, restaurants and shops. </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/2020/5/11/southport%203.jpg" alt=""></span></p>
</div>
</div>
</div>
</div>
<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>
</div>
<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>
</div>
</div>
</div>
</div></body></html>

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