<p><a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.</p>

<p>The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.</p>

<p>Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.</p>

<p>The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.</p>

<p>The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments</p>

<p><img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" /></p>

<p>Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.</p>

<p>But one of the biggest components of the proposal is what sits between the buildings.</p>

<p>Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.</p>

<p>The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.</p>

<p>Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.</p>

<p>SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.</p>

<p>The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.</p>

<p>The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.</p>

<p>Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.</p>

<p><img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" /></p>

<p>SP Setia plans to deliver the development across three stages.</p>

<p>Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.</p>

<p>If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

<p>Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.</p>

<p>Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.</p>

<p>The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.</p>

<p>“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.</p>

<p>"Eight residences is exceptionally boutique, but that's precisely what this site calls for.</p>

<p>“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”</p>

<p><img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" /></p>

<p>The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.</p>

<p>The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.</p>

<p>The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.</p>

<p><img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" /></p>

<p>The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.</p>

<p>It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.</p>

<p>Heritage has subsequently played a significant role in Cera Stribley's design.</p>

<p>The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.</p>

<p>Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.</p>

<p><img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" /></p>

<p>Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.</p>

<p>A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.</p>

<p>A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.</p>

<p>Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.</p>

<p>Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.</p>

<p>The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.</p>

<p>Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.</p>


Lowe Living unveils Middle Park apartment development

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p><a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.</p>

<p>Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.</p>

<p>The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.</p>

<p>The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.</p>

<p>A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.</p>

<p><img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" /></p>

<p>The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.</p>

<p>"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.</p>

<p>"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."</p>

<p>The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."</p>

<p>Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.</p>

<p>Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.</p>

<p>The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.</p>

<p>The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.</p>


First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<p><a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;</p>

<p>Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367193]</p>

<p>The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;</p>

<p>Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;</p>

<p>"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.</p>

<p>"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367183]</p>

<p>Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;</p>

<p>"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;</p>

<p>Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.</p>

<p>The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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<p><span>The prestige market, generally considered to be above $5 million in Sydney, has tended to move differently to the wider market, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p>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.</p>
<p><span>"As the wider market bounced back quickly after the GFC on the back of low interest rates and government incentives for first home owners, the prestige market saw significant price declines as share markets and executive bonuses were hit hard.</span></p>
<p><span>"On the flip side, the prestige market was generally immune to the recent wider market decline between mid-2017 and mid-2019, with buyers in the prestige market not as susceptible to the tighter </span>lending policies which led to the downturn," the valuation firm said. </p>
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<p><span>Given the GFC experience, there must now be some concern for the prestige market around the current COVID-19 pandemic and its effect on share markets and both local and world economies.</span></p>
<p><span>"Prestige agents however are currently observing significant demand in the prestige space, particularly at the lower end, in the $5 to $7 million bracket," the valuation firm said. </span></p>
<p>The HTW notes that an example of this demand is a property at <a href="https://www.realestate.com.au/property/466-bronte-rd-bronte-nsw-2024" target="_blank">466 Bronte Road, Bronte</a> (pictured below) which sold through Phillips Pantzer Donnelley just five days into its auction campaign.</p>
<p><span> The renovated, three level, semi-detached home on 536 square metres of land sold in early March </span>for $5.48 million.</p>
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<p>The selling agent advised that this was a common experience in this price range, with a large proportion of similarly priced homes not even making it to listing, as agents match unsuccessful purchasers to potential sellers of other properties.</p>
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<p><span>Another example of the current buoyancy in the prestige market is the recent sale of 8/41-43 Middle Head Road, Mosman, the report added. </span></p>
<p><span>The property reportedly sold for $6.9 million in the middle of February and was only on the market for 22 days (source: RP Data). </span></p>
<p><span>This property last transacted on 3 March 2018 for </span>$5.675 million with no obvious improvements made between sales.</p>
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<p><span>"The Sydney property market is considered to be a safe market to invest in compared to others around the world and with the Australian dollar falling significantly over the past month, interest from overseas purchasers and ex-pats is also likely to strengthen.</span></p>
<p><span>"Whilst there may be a softening of market conditions over the coming months as the number of COVID-19 cases in Australia increases and (hopefully) peaks, there are no current signs to suggest that there will be any long term downturn for the prestige market." </span></p>
<p><span><span style="text-decoration: underline;">Note regards COVID-19</span></span></p>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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No current signs suggesting long term downturn for Sydney prestige market: HTW residential 

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<p>The CBD and inner Sydney suburbs are geographically within a relatively small area, however there are many sub-markets at play within these regions, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. </p>
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<p><span>As a generalisation, the report suggests some of the big- picture elements that impact on the market include interest rates, availability and ease of finance, affordability, changes to overseas purchasing and oversupply of new units in certain areas.</span></p>
<p><span>Interest rate cuts and improving general market sentiment along with a limited supply of established stock in many inner city areas have been some of the main drivers of strengthening market conditions and property prices over the past few months.</span></p>
<p><span>"With proximity to the CBD, public transport and lifestyle amenities, the inner city is a popular choice for first home buyers," the valuation firm said. </span></p>
<p><span>This market segment is </span>urrently performing well, with lenders favouring owner-occupiers over investors, interest rates at record lows and first home buyer incentives available from the government.</p>
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<p><span>Upgraders were hit hard when lending was tightened last year, however as interest rates have dropped and APRA regulations have been relaxed, buyers have returned to properties within the $2 million to $3 million bracket, the report notes. </span></p>
<p>A parkside residence at <a href="https://www.realestate.com.au/sold/property-house-nsw-five+dock-132908398" target="_blank">2 Heath Street, Five Dock</a> (pictured below) recently sold for $3.555 million (PriceFinder) after 26 days of its auction campaign (source: RP Data).</p>
<p><span>The property is built to a high standard with basement parking and enjoys views over the adjoining park.</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/2020/4/14/five%20dock.jpg" alt=""> </span></p>
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<p><span>"Downsizers are also cashing in on the rising market, selling large suburban homes or inner city terraces and often entering the premium unit markets within the inner city, such as Jackson’s Landing at Pyrmont or Darling Point," the valuation firm said.</span></p>
<p><span>The properties typical </span>of the downsizer market are often tightly held, causing increased competition when one is offered to market.</p>
<p><span>Investor activity is improving due to relaxing APRA regulations and decreases to interest rates.</span></p>
<p><span> However, the recovery occurring within this market segment is generally more limited, even more so within modern medium and high density precincts.</span></p>
<p><span>The report notes some aspects are having noticeable effects on certain areas however, for example, interest rate reductions appear to be encouraging more activity and price growth particularly within the owner-occupier inner east and inner west suburbs, however this has not been as noticeable within higher density investor-focused suburbs such as Zetland and Waterloo in particular.</span></p>
<p><span>The number of new unit developments has slowed, largely as a response to tighter finance for developers. </span></p>
<p><span>"Sales agents are also reporting limited numbers of buyers for off the plan units due to the loss of confidence in the construction of such complexes after multiple incidents of major defects across Sydney. </span></p>
<p><span>"That being said, many complexes are under construction with existing pre-sales and this relatively concentrated supply pipeline of generic or investor grade stock is also causing the recovery within this market segment to be slower," the valuation firm said. </span></p>
<p><span>The slow down within this market segment is driving larger developers (with more financial clout) to improve their product offerings, such as Crown Group which has placed significant emphasis on the </span>architectural features of recently settled complexes in Green Square and the CBD.</p>
<p>Unfortunately some developers have been forced to cut costs and have delivered products that have underwhelmed their off-the-plan purchasers.</p>
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<p><span>"Infrastructure projects are also significant within these areas; the recent completion of the light rail from Circular Quay to Randwick, which has caused an uptick in interest throughout the CBD and Surry Hills, is translating to higher auction clearance rates and price growth," the valuation firm said. </span></p>
<p><span>Furthermore this is spurring growth in the neighbouring bridesmaid suburbs of Redfern and Darlinghurst.</span></p>
<p><span>A two bedroom apartment has recently been sold for $875,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-redfern-133317118" target="_blank">93/146 Pitt Street</a>, the 96sqm apartment comes with open plan lounge/dining area, undercover balcony and kitchen with breakfast bar. </p>
<p><span>It's situated a stroll to village shops, bars and eateries as well as Redfern 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/2020/4/14/redfern.jpg" alt=""></span></p>
<p><span>Furthermore, development around the Barangaroo precinct at the northern end of the CBD has improved the marketability of units in neighbouring Millers Point and Dawes Point.</span></p>
<p><span>The WestConnex Motorway project is also having some negative connotations for certain inner west suburbs such as Rozelle and Lilyfield in particular due to construction sites, interchanges, ventilation facilities and the unknown associated impacts for properties nearby.</span></p>
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Inner Sydney property market sees limited numbers of buyers for off the plan units: HTW residential 

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<p><span>Downsizers are playing a significant part in driving the local market in the Sutherland Shire, as they sell their larger family homes for smaller three- bedroom units or duplex homes, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. </span></p>
<p><span>"These types of properties appeal to the downsizer market as they cash in on their large family home for a more modern and low maintenance alternative," the valuation firm said. </span></p>
<p><span>Prestige units located in central </span>areas near transport and shops have always been popular with the empty nester demographic and more recently, low maintenance duplexes with a lift, minimal stairs or the ability to have a bedroom and bathroom on the ground floor are also proving popular.</p>
<p>A one bedroom apartment with parkland views in Miranda has recently been sold for $531,500.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-miranda-133200262" target="_blank">74/7-15 Jackson Avenue</a> (pictured below), the apartment is close to Miranda Station, shops, cafes and restaurants.</p>
<p>It comes with kitchen with gas appliances, enclosed balcony, sleek bathroom and lock up garage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/miranda%201.jpg" alt=""></p>
<p>"We have also noticed a trend in the downsizer market to demolish the existing family home and build a duplex pair, staying in one and selling or renting the other," the valuation firm said. </p>
<p>The report notes upgraders have also been active in the market over the past six months, with young families moving from a unit or townhouse to a detached dwelling or duplex.</p>
<p>"Upgraders are looking for something near transport, schools and shops, and often prefer modern or renovated properties so that they can move in with nothing to do.</p>
<p>"This is a change to what we have seen in the past as this demographic tended to prefer a dwelling they could renovate themselves and therefore increase the value," the valuation  firm continued. </p>
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<p><span>First home buyers are generally attracted to two- bedroom units along the railway line, particularly from Sutherland to Cronulla.</span></p>
<p><span>A two bedroom apartment in Sutherland is currently on the market with a price guide of $600,000 - $650,000.</span></p>
<p>The two bedroom, one bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-nsw-sutherland-133409382" target="_blank">17/76 Auburn Street </a>(pictured below). </p>
<p><span>It comes with open plan living and dining area, covered </span>balcony, modern kitchen 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/2020/4/14/sutherland.jpg" alt=""></p>
<p><span>However the recent increase in new unit complexes around the Miranda, Kirrawee and Caringbah areas created an oversupply with developers having to implement incentives such as cash back or stamp duty rebates to clear the remaining stock, the report notes. </span></p>
<p><span>"This oversupply issue has started to ease in recent months as the number of complexes under construction has reduced. Despite this we are still seeing examples of units that were completed mid 2019 for sale, with developers offering incentives to clear the remaining stock," the valuation firm said. </span></p>
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Sutherland Shire property market driven by downsizers: HTW residential 

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<p><span>The first home buyer market is more sensitive to general economic factors such as interest rate movement and fiscal policy, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at what things traditionally matter to property markets and provided some take on how current crisis is playing into decision making. </span></p>
<p><span>The report suggests that Localised factors such as supply levels also play a part, with affordability being a key market driver. </span></p>
<p><span>Brookvale is a popular sublrb for first home buyers, having one of the lowest median unit prices of $745,000 as at December 2019, in comparison to the Northern Beaches median of $875,000 (source: CoreLogic).</span></p>
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<p>"The area has seen strong development over the course of the past decade, resulting in a healthy level of stock that has consequently placed downward pressure on values," the valuation firm said. </p>
<p><a href="https://www.propertyobserver.com.au/images/2020/4/20/northern%20beaches%20.jpg" target="_blank">Click here </a>to enlarge: </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/2020/4/20/northern%20beaches%20.jpg" alt=""></p>
<p>Northern Beaches building approvals dropped drastically in 2018/2019 and are tracking at similar levels for the 2019/2020 financial year.</p>
<p>"There is a clear correlation between volume levels and building approvals and we would anticipate these factors to impact the first home buyer unit market," the valuation firm said. </p>
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<p><span>"For the upgrader market, we’ve seen strong demand from buyers outside of the Peninsular really driving this level of the market," the valuation firm continued. </span></p>
<p><span>Realestate. com.au reported that 2019 was the first time more outside buyers were searching for properties </span>on the Northern Beaches than those within.</p>
<p>The inner-west and eastern suburbs were key regions, with factors such as infrastructure upgrades including the B-line providing faster commuting options to the CBD, increase in flexible working arrangements allowing individuals to work from home more frequently, and the affordability of the area in relation to other Sydney regions proving key factors in this shift.</p>
<p><span>At the prestige end, Palm Beach is synonymous with prestige and a large number of these properties are owned by high net worth individuals from outside of the Northern Beaches, however </span>there is also a strong local prestige market along the coastline, the report noted. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/20/Collaroy%20Plateau.jpg" alt=""></p>
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<p><a href="https://www.realestate.com.au/property-house-nsw-collaroy-133077790" target="_blank">67 Edgecliffe Boulevard, Collaroy Plateau</a> (pictured above) is currently on the market through Knight Frank with a reported initial guide of $10 million, roughly $5 million above the suburb record.</p>
<p><span>According to the HTW report, this brand new luxury asset is sure to appeal to both local and international markets due to the ultra-modern finishes, unique position and unbeatable views.</span></p>
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<p><span>"Whilst we have not seen any recent change in market sentiment and values to date, the outlook </span>for the prestige sector remains rather uncertain.</p>
<p>"If the current global economic turmoil continues, we consider this will likely have a negative impact on demand and value levels," the valuation firm concluded. </p>
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Northern Beaches prestige sector remains uncertain in the time of COVID-19 pandemic: HTW residential 

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<p>Herron Todd White, Australia’s largest independent property valuation and advisory firm, said easier access to existing equity in homes and investment properties would help ease financial pressure for Aussies during the COVID-19 crisis.</p>
<p><span>Gary Brinkworth, CEO of Herron Todd White, said both the government and regulators must urgently work with financiers to unlock this source of stored wealth and help struggling individuals and businesses through this unprecedented time.</span></p>
<p><span>“If ever there were a time to help Aussies get access to their stored-away property wealth, it’s during the Coronavirus emergency.</span></p>
<p><span>“The integrity and discipline of the current lending system can be preserved and leveraged to help property owners through this challenging period.</span></p>
<p><span>“We believe the time to act is now, to provide additional liquidity to eligible property owners to help them navigate these uncertain times, creating an opportunity to survive this downturn and establish a strong position which will help contribute to the economy.”</span></p>
<p><span>Mr Brinkworth said the COVID-19 crisis had highlighted how some Aussie property owners were ‘asset rich, cash poor’ and providing the ability for many property owners to access the equity in their assets is a clear way to not only survive the uncertainty of the next few months but position property owners to bounce back quickly.</span></p>
<p><span>“As property professionals, we realise the level of equity drawdown and the impact on property values due to COVID-19 will need to be part of the discussion, but it’s ludicrous to not have this conversation in the current climate.</span></p>
<p><span>“There’s an important role valuers will play in preserving the integrity of the financial system while unlocking additional liquidity during this challenging period. As such, we will be supporting our clients and our industry body, the Australian Property Institute, in their efforts to put this initiative front and centre.”</span></p>
<p><span>Mr Brinkworth said from his discussions with industry associates, finance providers seemed ready to act swiftly in making equity available to owners.</span></p>
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<p><span>“This kind of industry support and through Government incentives and the cooperation of the different stakeholders, should allow us to realise the potential of this initiative at a time when people need it most”.</span></p>
<p><span>Mr Brinkworth said the nation’s strong real estate sector had been a leading source of wealth building through decades of sustained value growth.</span></p>
<p><span>He said under normal circumstances equity was a wealth buffer for owners to reinvest or live on in retirement, but it should now be drawn upon as a financial safety net.</span></p>
<p><span>“We are calling on the government and regulatory bodies, to work together to make this possible, to encourage property owners to leverage their equity’.</span></p>
<p><em>Main Photo:<a href="https://theinsideinvestor.com.au/wp-content/uploads/2019/06/equity_release.png" target="_blank"> Equity Release/The Inside Investor</a>.</em></p>
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Property valuers call for equity release to ease financial burden amid COVID-19 pandemic: HTW

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<p><span>There’s been plenty of pain throughout Western Australia, but in many regions it appears that consumer confidence is on the up and consumers are spending again, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked thei</span>r valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>"We’re starting 2020 with a positive mindset. It’s been a hard slog over the past seven years as market conditions contracted in line with construction activity in the resources industry.</span></p>
<p><span>"We believe that 2020 will be an educational year for many market participants on several fronts and in different markets. We also believe that the market will once again be influenced by activity in the state’s resources sector. Both of these points should see investors return to the market, particularly in the second half of the year. </span></p>
<p><span>"In fact, we consider that late in 2020, many market participants will either have or be actively looking to purchase, but will come to realise that the choice of stock has become more limited throughout the year," the valuation firm said. </span></p>
<p><span>The report suggests a big driver this year is expected to be the resources industry.</span></p>
<p><span> 2019 was a relatively positive year in the industry. After a long period of routine maintenance, a construction phase has commenced, albeit not to the same extent as what occurred between 2006 and 2013. </span>Increased activity throughout Karratha in particular, but also Port and South Hedland, are lead indicators of demand.</p>
<p><span>Values in Karratha surged by double digits in 2019, with several suburbs in the town experiencing growth in excess of 20 percent for the year and the rental market being stripped of stock. </span></p>
<p><span>Construction projects in the inland Pilbara are expected to have further flow on </span>effects to Port Hedland, Newman and Tom Price, and the manpower required for these projects will positively affect net migration statistics.</p>
<p>"The big question this cycle is what will happen to wages? With extensive reconstruction projects occurring throughout many areas in the eastern states, will Western Australia attract enough skilled tradespeople to fill the order books? If so, what will that do to vacancy rates both in the Pilbara, but also in the fly in fly out base of Perth? What flow on effect will this create if and when investors return to the Perth housing market?</p>
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<p><span>"By the end of the year, we should have a decent indication of the scale this cycle will be," the valuation firm said. </span></p>
<p><span>The rental vacancy rate in Perth peaked in 2016 at 5.5 percent according to SQM Research and has been steadily declining since. </span></p>
<p><span>The rental vacancy rate stayed below three percent throughout 2019, reaching a low of 2.5 percent, which coincided </span>with a slight increase in the median rental amount.</p>
<p>According to REIWA, such a rate is representative of demand slowly outstripping supply and a good indicator that the median rental rate may continue to rise, subject to any increase in supply.</p>
<p>"Whilst a rate of 2.5 percent is somewhat high historically for Perth, we need to keep in mind that the majority of supply in the past seven years has been in outlying suburbs, hence we would expect that the actual rental vacancy rate in inner Perth is much lower and would be starting to look quite attractive to investors," the valuation firm said. </p>
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<p><span>"The outer suburbs are also interesting though and we do expect to see an increase in investor activity in these areas as well, but for a different reason," the valuation firm noted. </span></p>
<p><span>These oversupplied areas such as Ellenbrook, Baldivis, Clarkson and Piara Waters offer relatively new properties that may be more attractive from a depreciation point of view and </span>given the distinct lack of demand in recent years for near new dwellings in such locations, values have declined significantly.</p>
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<p><span>Ellenbrook currently has a median sale price of $346,000 and attracts a median rental of $330 per week, but there are more attractive offerings for bargain hunters.</span></p>
<p>For example, the property at <a href="https://www.realestate.com.au/sold/property-house-wa-ellenbrook-131681290" target="_blank">15 Boyagarring Gardens, Ellenbrook</a> recently sold for $335,000, comprising a 2013 built brick and tile dwelling on a 452 square metre allotment.</p>
<p><span>Prior to its sale, </span>it was rented for $380 per week whilst offering attractive depreciation benefits.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/ellenbrook.jpg" alt=""> </p>
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<p><span>The report notes similar examples can be found in Clarkson, a modern suburb in Perth’s northern coastal corridor. </span></p>
<p>The following property at <a href="https://www.realestate.com.au/sold/property-house-wa-clarkson-131547870" target="_blank">18 Walpole Place</a> sold for $350,000 in September, below Clarkson’s median house price of $363,500.</p>
<p><span> The property comprises of a 1995 built four-bedroom, two-bathroom dwelling on a 648 square metre allotment and is subject to a lease of $400 per week.</span></p>
<p><span> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/clarkson.jpg" alt=""></span></p>
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<p><span>Similar examples are found throughout many of the establishing outlying areas of the Perth metropolitan area, where for several years the market has been dominated by first home buyer house and land packages, with minimal demandfor used dwellings placing continuous downward pressure on values.</span></p>
<p><span>"It will be interesting to see what happens in this space given the returns currently on offer for properties offering attractive depreciation benefits in a market where there are signs of an impending increase in demand. Watch this space!<br></span></p>
<p><span>"To be clear, we do not expect to see much capital growth in such suburbs throughout 2020, but there are other factors that may influence the purchasing decisions for market participants keen to buy in subdued market conditions, as opposed to the returns currently available in most other capital cities. Choice can play a large part in the buying decision and with stock on the market sitting at circa 12,000 properties, a quarter less than the same time last year, it’s obvious that the choice of stock available is on the decline," the valuation firm said. </span></p>
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<p><span>"At the other end of the scale, we have seen an increase in market activity in many more sought after areas. </span>These markets seemed to surge and pause throughout 2019 and caused a great deal of confusion as to where the market was at. What did become clear though, is that many market participants believed they had ample time to find the perfect property and quickly realised they had misread the market.</p>
<p>"We expect this to continue throughout 2020 as a sense of urgency returns to the market from those who missed out on previous offerings. In locations such as Nedlands, we are hearing (and witnessing) various surges in demand where the market will pause for a period of time, listings on the market slowly build and then a surge of demand will see multiple offers on many properties in a short period of time, or buyers who previously missed out on a property act swiftly with strong offers during the very early stages of a marketing campaign," the valuation firm said. </p>
<p>The report notes whilst the average property in Perth takes 84 days to transact, the median to achieve a sale in Nedlands is currently 26 days – not bad for a suburb with a median sale price of $1.63 million.</p>
<p><span>"Returning to the more affordable end of the scale, we do expect that we will start to see an increase in activity in established secondary markets as the rental market tightens and rental values start to rise later in the year. </span></p>
<p><span>"We expect to see </span>an increased sense of urgency from those who have been renting as they watch the availability of decent stock dissipate, forcing them into a return to the housing market. We also expect to see an increase in upgrade and exchange buyers – those buyers who have been considering relocating and the dwindling stock supply creates a sense of urgency. With transactions comes discussions between friends, colleagues and the like and real estate becomes the topic of choice at barbecues."</p>
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<p><span>In the apartment market, government intervention has resulted in a period of concern, the report noted.</span></p>
<p><span> In 2019, the Western Australian government announced stamp duty exemptions for off the plan apartments on the proviso that construction of the development had not commenced yet.</span></p>
<p><span> Whilst there is method to the madness (build demand that will lead to a construction boom at some point in the future), the immediate effect was that demand for established complexes or those currently under construction declined overnight. </span></p>
<p><span>It also placed an additional level of caution over the long-suffering apartment market, at the lower to middle value ranges anyway.</span></p>
<p><span>"We expect this to persist throughout 2020 as developers secure pre-sales prior to committing to commencement of construction," the valuation firm said.</span></p>
<p><span>"All in all, we see a fairly mixed bag for 2020, but largely a positive one. </span>We think that the market will educate itself that there is a finite time to bargain hunt and that trying to pinpoint where the bottom of the market is or was is a futile exercise, especially whilst above average returns are on offer.</p>
<p><span>"We see 2020 as a solid year for buyers ready to act on the choice of stock currently available, with the buying decision becoming harder later in the year and into 2021 as stock levels retract." </span></p>
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Perth property market to be driven by resources sector in 2020: HTW residential 

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<p><span>The Cairns economy and residential property market continue to plod along, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>"Our best guess is that 2020 will look a lot like 2019 (which looked a lot like 2018)," the valuation firm said. </span></p>
<p><span>The report notes the $176 million redevelopment of the Cairns Convention Centre is due to commence in June 2020. With Riley, Bailey and Flynn (the Crystalbrook Collection Hotels) being finished, the first half of 2020 will lack a large construction project and the lack of activity may extend the normally quiet summer period further into 2020.</span></p>
<p><span>The changes to GST charges on foreign-flagged superyacht charters and predictions of a surge in superyachts visiting for leisure and maintenance is a real positive for Cairns and is exactly the type of stimulus needed to support the local property market.</span></p>
<p><span>2020 is an election year with council elections due on Saturday, 28 March 2020 and state government elections due on Saturday, 31 October 2020.</span></p>
<p><span>"Unfortunately the uncertainty elections cause tends to have a negative impact on market activity with people delaying decisions until after the dust has settled," the valuation firm said.</span></p>
<p><span>"If we had to have a wager on where the residential market would be in December 2020 our bet would be the same or slightly less sales than 2019 and median prices similar to or slightly below 2019." </span></p>
<p><span>A two bedroom apartment in Cairns CBD has recently been sold for $232,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-apartment-qld-cairns+city-132182730" target="_blank">2/157 Grafton Street </a>(pictured below), the apartment comes with open plan living and dining, kitchen, balcony and two bedrooms upstairs.</p>
<p><span>The property last sold for $320,000 in 2005. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/cairns%20city.jpg" alt=""></span></p>
<p> </p>
<p>A current listing is a two bedroom apartment in Cairns City with uninterrupted views. </p>
<p>The apartment at<a href="https://www.realestate.com.au/property-unit-qld-cairns+city-132927182" target="_blank"> 3/138 Abbott Street </a>(pictured below) has been listed for sale with a price of over $400,000.</p>
<p>It comes with designer kitchen, open plan living, front patio and undercover parking.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/carins%202.jpg" alt=""></p>
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Cairns property market to continue to plod in 2020: HTW residential 

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<p><span>Overall Tassie’s housing market remained the star performer nationwide in 2019 with six of the top 10 suburbs all coming from the apple isle, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes many regions achieved above 10 percent growth and much of the state was above five percent.</span></p>
<p><span>"So what of 2020?</span></p>
<p><span>"Simply due to the strength in the local economy, population growth, near nil vacancy rates in the rental market and ongoing housing shortage, we feel that 2020 will deliver continued growth, a steady market in Hobart and we remain positive with regard to overall pricing," the valuation firm said. </span></p>
<p><span>The outer ring lower socio economic suburbs such as Bridgewater and Gagebrook have recently led the capital growth path. </span></p>
<p>"We would expect this to slow a touch as some realism comes back into the market," the valuation firm stated. </p>
<p>A three bedroom house in Bridgewater (pictured below) has recently been sold for $335,000.</p>
<p>Built in 2015, the house at <a href="https://www.realestate.com.au/sold/property-house-tas-bridgewater-132977278" target="_blank">24 Hurst Street </a>comes with three bedrooms, one bathroom, living and dining area, and kitchen. </p>
<p>The property last sold for $45,000 in 2014.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/bridgewater.jpg" alt=""></p>
<p>Middle and inner ring suburbs continue to experience firm demand conditions and upward pressure on pricing.</p>
<p>"We expect this to be ongoing," the valuation firm stated. </p>
<p><span>In the north, Launceston was one of the standouts in 2019 with solid growth through all price segments and most locations, the report noted. </span></p>
<p><span> Continued expansion of the tourism sector (yes, there is a crane in the sky), the impending commencement of the next stage of the university campus (sod to be turned </span>in January 2022) and a generally buoyant outlook would suggest that 2020 will be no different.</p>
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<p><span>The north-west coast and west coast regions continue to have their own economic challenges and in some regions, continue to struggle, especially the mining based townships along the west coast. </span></p>
<p><span>"We are expecting Devonport to continue its momentum of 2019. Burnie has no doubt turned the corner with a continuation of improved conditions during 2019. We expect both these major centres to continue upward in 2020," the valuation firm said. </span></p>
<p><span>A Georgian home in Devonport (pictured below) has hit the market with over $849,000 hopes. </span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-tas-devonport-132992210" target="_blank">13 George street</a>. </p>
<p><span>Set on a 1,095sqm parcel of land, the home comes with open plan kitchen, dining and living, sitting room, in-ground pool and dual length garage. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/devonport.jpg" alt=""></span></p>
<p><span>"The areas to watch for this year? </span>Climate change is now one of the main drivers attracting people to migrate to the state.</p>
<p><span>"Look out for the coastal towns, especially those that offer medical or nearby medical facilities such as St Helens (has medical facilities) &amp; Orford (one hour from Hobart). We are expecting to see the sea change and climate change effect continue, especially from Queensland and Western Australia as buyers seek to relocate to a milder climate. </span></p>
<p><span>"Cashing in the interstate family home, buying a very nice holding on the Tassie coast and having money left over in the bank to play with - what more could you want?" the valuation firm said. </span></p>
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Tasmania expected to see a steady property market in 2020: HTW residential 

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<p>2019 was a positive year not only for the Mackay residential market but for the general Mackay economy, according to a recent Herron Todd White (HTW) residential report.</p>

<p>The report notes a buoyant resource sector coupled with large infrastructure projects, particularly the Mackay Ring Road, saw increased employment opportunities and population growth throughout the year.</p>

<p>The residential market saw increased demand and slight capital growth. The rental market really gathered momentum in 2019, with vacancies below two percent and rental values increasing significantly.</p>

<p><span>"In 2019, Mackay’s economy was strong, we had record low interest rates and there were excellent employment prospects across most industries, but we only saw minor property value growth. </span>There are a number of factors that contributed to this," the valuation firm said. </p>

<p>[smartcode_project:default project_id=94823]</p>

<p><span>Firstly, the median house price for Mackay fell from $438,000 to around $340,000 at the bottom of the market, a drop of around $100,000. This equity reduction eroded the purchasing power </span>of a number of people who purchased property, particularly if they purchased at the height of the market.</p>

<p>Also, the strict lending policies of banks meant that a far greater deposit was required to purchase property.</p>

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<p><span>"As we head into 2020, there appears to be no slowdown in the resource sector with significant employment opportunities available," the valuation firm said.</span></p>

<p><span>Also, the Mackay Ring Road project is well underway, with the government approving Stage 2 and </span>the Walkerston Bypass being recently listed on the National Infrastructure Priority list.</p>

<p>Add the smaller local projects, including The Resource Centre of Excellence, retail expansion including Coles at Andergrove and the Northern Beaches Emporium development plus other council projects including the Mackay CBD to Harbour link, Queens Park revitalisation project and the Rotary lookout in North Mackay and all of these projects and opportunities should keep the economic recovery of Mackay continuing into 2020.</p>

<p>[smartcode_project:default project_id=94830]</p>

<p>The report notes interest rates are expected to continue at record low levels for the short term and there appears to be a softening of some of the strict criteria of the banks.</p>

<p><span>"So what do we think will happen to residential property in 2020? We think the momentum gained in Mackay over the past two years will continue into 2020. </span></p>

<p><span>"We anticipate modest price growth throughout the year across all market sectors, with rentals to remain tight. With continuing record low interest rates, good employment opportunities and a general feeling of optimism across Mackay, we think 2020 will be a good year for the residential real estate market." </span></p>

<p><span>A fully finished self contained apartment in Mackay has been listed for rent with a price of $340 per week.</span></p>

<p>Located at <a href="https://www.realestate.com.au/property-house-qld-mackay-417251618" target="_blank">4/24 East Gordon Street</a> (pictured below), the apartment comes with master bedroom, open plan living area, and well-equipped kitchen.</p>

<p>It is located within walking distance to the Town Beach and only a short drive to CBD.</p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/mackay%20.jpg"></p>

<p>A three bedroom Queenslander situated close to Mackay CBD has been sold for $280,000.</p>

<p>Located at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-132385018" target="_blank">26 Juliet Street </a>(pictured below), the house comes with renovated kitchen, open plan lounge and dining, and functional bathroom.</p>

<p>It's situated close to restaurants, schools, sporting grounds and parklands. </p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/mackay%202.jpg"></p>
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Mackay to see price growth throughout 2020 across all property market sectors: HTW residential 

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<p>2020 is shaping up to be a continuation of the previous tough few years for the Darwin residential property market with a number of factors still contributing to the current financial position of the Territory, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.</p>
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<p><span>The report notes with some long-term projects getting the green light and more in discussion, the flow on effect will not be seen in 2020 and sentiment will continue to remain weak across the residential market and wider economy in general.</span></p>
<p><span>With the completion of the construction phase of the Ichthys Gas project and remaining construction workers now onto the next project, the focus shifts to what is next for Darwin and the Territory overall, as new projects are needed.</span></p>
<p><span> The $200 million CBD revitalisation including the newly announced CDU campus is well underway. </span></p>
<p><span>"It is hoped that with a more vibrant city as well as more bodies on the ground, will have a flow on effect for businesses and therefore uptake in CBD dwellings. This will have a direct positive impact on the residential unit market, with increased demand for rental accommodation in the CBD," the valuation firm said. </span></p>
<p><span>A two bedroom apartment in Darwin City has recently been sold for $390,000 (pictured below).</span></p>
<p>The near new apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-124636170" target="_blank">P01/16 Harvey Street</a> comes with living and dining area, wrap around verandah and centrepiece kitchen. </p>
<p><span>The complex features lifestyle facilities including resort style pool, gymnasium and children's play 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/2020/3/16/darwin%20city.jpg" alt=""></span></p>
<p><span>Further projects such as the announcement of the $400 million ship lift facility, the $1.05 billion Todd Gold mine construction, $200 million Westin Hotel project, the $1.45 billion project Sea Dragon prawn farm and the longer term $20 billion sun cable project in Tenant Creek due to commence in 2023 that will supply 20 percent of Singapore’s </span>electricity.</p>
<p>"While these are positive announcements and major drivers of the economy long term, it is difficult to see an immediate positive impact in 2020 on the residential property space," the valuation firm said. </p>
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<p><span>"Looking at sales figures across 2019 it becomes clear that while sales volume appears to have increased particularly through the back end of the year, we have not seen any increase in equity and in most cases people are in a negative equity position," the valuation firm said. </span></p>
<p><span>While property prices remain low it makes it more difficult for local or smaller investors to re-enter the market and add to their portfolio. The REINT have reported that median house price as at the end of Sept 2019 of $460,000 is in line with 2009 prices, while median unit prices for greater Darwin of $294,000 is in line with March 2007.</span></p>
<p><span>A single level family home in Woodroffe (pictured below) is currently on the market with a price guide of $452,000.</span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-nt-woodroffe-132863710" target="_blank">38 Baldwin Drive</a>. </p>
<p><span>It comes with L-shaped living-dining area, centre kitchen, and alfresco patio overlooking lawns and in-ground pool.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/woodroffe.jpg" alt=""></span></p>
<p><span>"Looking into the Crystal ball for 2020, we see the most action in the residential market will be first home owners. As prices continue to soften and in conjunction with the newly released First Home owner deposit scheme, we believe that some of the saturated unit market will be absorbed by first home owners and entry level homes due to the low price point. </span></p>
<p><span>"This Federal Government scheme, which allows a purchase for Territory dwellings of up to $375,000 with a five per cent deposit, should take some of the lower price point stock off the market," the valuation firm said. </span></p>
<p><span>The report notes the grants on offer certainly are not limited to first home owners.</span></p>
<p><span>"Currently in the territory we have on </span>offer, a $20,000 build bonus scheme if buying or building a new home from February 2019, limited to the first 600 applicants, a first home owner grant of $10,000 on new homes, Territory home owner discount, with up to $18,500 off stamp duty on the purchase of either a new or existing home for new home owners in the Territory and finally a $10,000 home renovation grant if buying your first home is an existing dwelling," the valuation firm added. </p>
<p>Only 200 of the 600 build bonus applications have been exhausted so there remains a strong stimulus to still be seen in the market.</p>
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<p><span>"It’s not all doom and gloom! Darwin presents great opportunity for the investor market with the highest yields for any capital city in the country. </span></p>
<p><span>"Investors can typically expect a gross return of over five per cent across both units and dwellings and with the lowest median house prices in the country at year end 2019, the entry into the property market is easier and in most cases a positively geared asset," the valuation firm concluded.</span></p>
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