<p>New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.</p>

<p>It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.</p>

<p>With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.</p>

<p>The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.</p>

<p>Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.</p>

<p>"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.</p>

<p>"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=953]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.</p>

<p>Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.</p>

<p>That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.</p>

<p>Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.</p>

<p>"The Lennox is where aspirational living becomes attainable," Hamblett said.</p>

<p>"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."</p>

<p>Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.</p>

<p>"At The Lennox, lifestyle is not an afterthought, it is the foundation."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=5374]</p>

<p>The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.</p>

<p>Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.</p>

<p>That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.</p>

<p>"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


Joel Robinson

The apartment price gap drawing Sydney buyers west

<p>A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.</p>

<p>The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.</p>

<p>The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.</p>

<p>The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.</p>

<p>Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.</p>

<p>"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.</p>

<p>"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."</p>

<p><img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" /></p>

<p>Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.</p>

<p>Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.</p>

<p>Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.</p>

<p>"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.</p>

<p>"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."</p>

<p>Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.</p>

<p>Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.</p>


Rainbow Bay apartment doubles in price since off the plan sale during pandemic

<p data-end="315" data-start="85">The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.</p>

<p data-end="499" data-start="317">The project, to be known as <strong data-end="376" data-start="345">Capella Residences Brisbane</strong>, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.</p>

<p data-end="899" data-start="501">The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.</p>

<p data-end="1154" data-start="901">The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.</p>

<p data-end="1387" data-start="1156">The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.</p>

<p data-end="1387" data-start="1156"><img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" /></p>

<p data-end="1611" data-start="1389">Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.</p>

<p data-end="1823" data-start="1613">Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.</p>

<p data-end="2042" data-start="1825">The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.</p>

<p data-end="2177" data-start="2044">The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.</p>

<p data-end="2420" data-start="2179">The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.</p>

<p data-end="2724" data-start="2422">"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.</p>

<p data-end="2858" data-start="2726">"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."</p>

<p data-end="3130" data-start="2860">Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.</p>

<p data-end="3415" data-start="3132">"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.</p>

<p data-end="3658" data-start="3417">"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."</p>

<p data-end="3820" data-start="3660">Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.</p>

<p data-end="3961" data-start="3822">"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.</p>

<p data-end="4083" data-start="3963">"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."</p>

<p data-end="4227" data-start="4085">Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.</p>


Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

<p>Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.</p>

<p>The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.</p>

<p><img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" /></p>

<p><a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.</p>

<p>"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.</p>

<p>"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.</p>

<p>"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."</p>

<p><img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" /></p>

<p>Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.</p>

<p>The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.</p>

<p>"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.</p>

<p>"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."</p>

<p>Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.</p>

<p>"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.</p>

<p>"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."</p>

<p>Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=113271]</p>


Lewis Land targets first home buyers at latest Harbour Shores release, Solis

<p>Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a></p>

<p>The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.</p>

<p>The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.</p>

<p>The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.</p>

<p>[smartcode_project:default project_id=108800 project_image_fid=370093]</p>

<p>Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.</p>

<p>"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.</p>

<p>"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."</p>

<p>Brown says the&nbsp;response to Park Residences following completion has been particularly strong.</p>

<p>"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.</p>

<p>"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."</p>

<p>[smartcode_project:default project_id=114246 project_image_fid=370116]</p>

<p>Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.</p>

<p>"Today's buyers are incredibly discerning," Tack said.</p>

<p>"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.</p>

<p>"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."</p>

<p>The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.</p>


KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

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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>
<div> </div>
<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>
</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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