<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>During the middle part of 2019, the historically slow winter period was compounded by the federal election and lingering effects of the banking royal commission, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes the metropolitan market slowed with both state government and CoreLogic supplied data indicating a declining market.</p>
<p>Historically the South Australian market has lagged behind Sydney and Melbourne which both began to show signs of recovery in mid 2019.</p>
<p>On the back of this data it was hopefully only a matter of time before the tides turned. And turned they have.</p>
<p>The most recent CoreLogic Daily Home Value Index indicates that the metropolitan market has recovered to a point of 117.06 from a low of 114.99 in September 2019.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/3/9/corelogic%20adelaide.png" target="_blank">Click here</a> to enlarge: </p>
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<p><span>This market fluctuation has been supported by agents who have reported that the middle part of 2019 saw a reduction in buyer activity and also a limited amount of available stock, only for market conditions to flip come spring.</span></p>
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<p><span>"So, with this being said and no known market disruptors on the horizon, there is no reason to indicate that this strengthening level of market activity won’t continue into 2020," the valuation firm said. </span></p>
<p><span>Market segments to watch throughout the year will be the middle ring $400,000 to $600,000, entry level character dwellings and the prestige market of $3 million plus.</span></p>
<p><span>The middle ring provides affordability for first home buyers and also a price point for cashed up investors who do not have to rely solely on a lending institution. </span></p>
<p><span>The report suggests fitting this profile are the suburbs of Felixstow, Seaton and Pasadena.</span></p>
<p><span>Felixstow is located seven kilometres north-east of the Adelaide CBD. This suburb was established in the 1960s with further development occurring in the late 1990s. </span></p>
<p><span>The suburb is currently going through a stage of urban renewal with a significant amount of older stock being demolished. </span></p>
<p><span>Felixstow has proximity to Linear Park, is serviced by Marden Shopping Centre and has direct access to the CBD via Payneham Road and the O-Bhan bus route.</span></p>
<p><span>"Zoning changes in 2017 allowing for higher density development saw the suburb’s median house </span>price spike to $685,000. This has since cooled off to a median dwelling price of $598,888 as at September 2019," the valuation firm said. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/felixstow.jpg" alt=""></p>
<p>The report notes representing Felixstow’s past and present are the sales of 32 Wilson Avenue (pictured above), an original 1960s brick dwelling on 1000 square metres and <a href="https://www.realestate.com.au/sold/property-house-sa-felixstow-132448430" target="_blank">11 Pearce Avenue</a> (pictured below), a circa 1993 three- bedroom, two-bathroom brick veneer dwelling on 380 square metres, which achieved sale prices of $574,500 and $571,000 respectively.</p>
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<p><span>Seaton is located 11 kilometres north-west of the Adelaide CBD. This suburb was established in the 1950s and has since gone through a number of stages of urban renewal with a mixture of newer 1980s to 2000s dwellings. </span></p>
<p><span>The suburb has proximity to Grange Beach, is serviced by Westfield West Lakes and has The Royal Adelaide Golf </span>Club within its confines. This suburb has seen its median sale price steadily rise since mid-2015 and has a current median dwelling price of $495,000.</p>
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<p><span>"Older stock in Seaton is considered most popular, providing purchasers with the greatest potential to value add," the valuation firm stated.</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/seaton%201.jpg" alt=""></span></p>
<p>Recent sales in this category are<a href="https://www.realestate.com.au/sold/property-house-sa-seaton-132386386" target="_blank"> 39 Seaton Terrace </a>(pictured above) and <a href="https://www.realestate.com.au/sold/property-house-sa-seaton-132336634" target="_blank">7 Stevens Street</a> (pictured below), both comprising partly updated 1960s brick dwellings on large allotments and achieving sale prices of $508,000 and $460,000 respectively.</p>
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<p><span>Pasadena is located nine kilometres south of the Adelaide CBD. This suburb was established in the 1970s and is characterised by large brick homes on 700 square metre allotments.</span></p>
<p><span> A large portion of Pasadena extends into the Adelaide foothills, which provides many properties with local views and has restricted higher density development. </span></p>
<p>The epitome of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-house-sa-pasadena-132126698" target="_blank">85 Quinton Court</a> (pictured below), which achieved a sale price of $585,000 in December. This is a two level brick dwelling disposed as three bedrooms and two bathrooms with local views and situated on an 820 square metre allotment.</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/pasadena.jpg" alt=""></p>
<p>Pasadena has a direct route to the CBD via Goodwood Road and is located only a short distance from the Southern Expressway, which provides access to the Fleurieu Peninsula. Pasadena has a median dwelling price of $566,250, some 15% below the median dwelling price of the greater Mitcham Council.</p>
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<p><span>"With a buyer pool as deep as a baritone, entry level character dwellings continue to be the most popular property type within the inner and middle rings," the valuation firm continued. </span></p>
<p><span> Irrelevant of condition, there is upside in these properties for those looking to renovate, whilst the comfortable and renovated properties provide options for first home buyers and downsizers. </span></p>
<p><span>T</span>he entry price point varies depending on location. North and west of the CBD sees an entry price point of $500,000 to $700,000, whilst $600,000 to $800,000 represents the entry price point south and east of the CBD. Prospect (north), Mile End (west), Goodwood (south) and Kensington (east) of the CBD provide the best chances of picking up an entry level character dwelling.</p>
<p><span>"The prestige market of $3-million-plus offers purchasers a significant slice of house and land compared to a number of the other metropolitan markets," the valuation firm said. </span></p>
<p><span>Buyer activity has come locally as well as from interstate and overseas. </span></p>
<p><span>Within the inner ring, 1900s character mansions on larger land holdings are considered most popular whilst west of the city, properties require a high standard of finish </span>and ocean views to push the value past $3 million.</p>
<p>A number of suburbs achieved significant top end sales in the latter stages of 2019.</p>
<p>The inner south- eastern suburb of Fullarton had its first sale above $2.5 million when <a href="https://www.realestate.com.au/sold/property-house-sa-fullarton-132114566" target="_blank">137 Wattle Street </a>(pictured below) settled for $3 million in November.</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/fullarton.jpg" alt=""></p>
<p>West of the city, Glenelg North achieved only its highest transaction since 2012 with 10 Patawolanga Frontage achieving $4.04 million in December.</p>
<p>East of the city, Kensington Park achieved only its second sale above $4 million with 56 Yeronga Avenue settling at $4.2 million in December.</p>
<p>"Ironically, Kensington Park’s only previous sale above $4 million was 56 Yeronga Avenue which achieved $4.25 million in 2013," the valuation firm said. </p>
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<p><span>For those looking for capital growth, the CBD apartment market and outer ring should be treated with caution, the report notes. </span></p>
<p><span>Both these market segments have heightened levels of available stock, which creates a dynamic that isn’t conducive to an increasing market.</span></p>
<p><span>"We don’t claim to be able to tell the future but with data indicating a strengthening finish to </span>2019 and positive feedback from agents, the metropolitan market is in a position to enter the new decade on a positive note.</p>
<p>"Whether this trend continues can only be answered by the clairvoyants among us." </p>
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Adelaide metropolitan property market expected to strengthen in 2020: HTW residential 

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<p>The Bundaberg residential market has been a steady performer over the past number of years, according to a recent Herron Todd White (HTW) residential report. </p>
<p>"We don't see that changing in a hurry," the valuation firm said. </p>
<p>The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes Bargara and the entire coastal strip are seeing some positive signs of investment which has the potential to fuel growth along the coast. </span></p>
<p><span>There are a number of projects happening or proposed that should stimulate interest in the area, such as the redevelopment of the Bargara Hotel, a new tavern near the Stockwell shopping centre, a new eco-friendly residential development at Innes Park/ Bargara South and renovations to the Bargara RSL.</span></p>
<p><span>"We see the coastal strip as being the shining star in 2020," the valuation firm said. </span></p>
<p><span>A four bedroom brick house in Bundaberg North has recently been sold for $277,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-qld-bundaberg+north-130630258" target="_blank">32 Fairymead Road</a> (pictured below), the fully renovated home features open living area, modern kitchen and double carport. </p>
<p><span>The property last sold for $160,000 in 2018. </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/bundaberg%20north.jpg" alt=""></span></p>
<p><span>A current listing is a Bundaberg West three bedroom townhouse priced at $289,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+west-133166554" target="_blank">1/6 Mulgrave Street </a>(pictured below), it comprises 3 bedrooms, open plan living area, modern kitchen and backyard. </p>
<p><span>It is located close to private school, CBD, shops and transport. </span></p>
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Bundaberg property market to continue to perform steadily: HTW residential 

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<p><span>The second half of 2019 saw increased levels of activity in the residential property market, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>"2020 is likely to be the litmus test to determine whether we are genuinely into better times or merely experiencing a bubble of post flood activity," the valuation firm said. </span></p>
<p><span>The report suggests Townsville has a strong pipeline of projects proposed for 2020 including a number of developments around the North Queensland Stadium which is nearing completion (to be named Queensland Country Bank Stadium) including the Cowboys Centre of Excellence, a 166-room Double Tree by Hilton Hotels and pedestrian walkway linkages from the city centre and central precinct to the stadium.</span></p>
<p><span> The $71 million Marine Tourism Precinct which will include a four-star hotel, new SeaLink ferry terminal, car parking, new ferry berths and two new high speed ferries is another development proposed for 2020. </span></p>
<p><span>Some other projects include the currently underway Flinders Lane retail development along with a number </span>of proposed mixed use residential and food and drink developments in the inner city and Strand precincts.</p>
<p><span>"The inner city 4810 postcode had a good level of activity in 2019 and this is likely to continue in 2020," the valuation firm said. </span></p>
<p><span>Suburbs within a five-kilometre radius of the city centre could see increased interest as inner city projects improve the amenity of the area.</span></p>
<p><span>"After an absence of sales in flood affected suburbs during 2019, we are likely to see these suburbs coming back to the market, providing a better understanding of the impact on value levels following this event," the valuation firm stated. </span></p>
<p><span>"The balance of the Townsville market will likely remain status quo whilst people monitor unemployment and job security factors.</span></p>
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<p><span>"Overall, the outlook for the residential market in 2020 is positive with higher levels of market confidence and improving economic conditions." </span></p>
<p><span>A fully furnished one </span>bedroom apartment in the heart of Townsville City has been sold for $180,000.</p>
<p>The 65sqm apartment at <a href="https://www.realestate.com.au/sold/property-unit-qld-townsville+city-132605178" target="_blank">1/2-4 Kingsway Place</a> (pictured below) comes with modern kitchen, carpeted living areas and patio overlooking the complex facilities. </p>
<p>The apartment is located in the central riverfront development. </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/townsville%20city%201.jpg" alt=""></p>
<p>A current listing is a two bedroom self contained apartment in Townsville priced at $297,500.</p>
<p>The apartment at <a href="https://www.realestate.com.au/property-house-qld-townsville+city-132999474" target="_blank">48/4 Kingsway Place</a> (pictured below) comprises two bedrooms, open plan living, private balcony and undercover car parking. </p>
<p>Other features include air conditioning, outdoor pool and BBQ facilities. </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/townsville.jpg" alt=""></p>
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Townsville property market expected to see higher level of confidence: HTW residential 

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<p><span>The outlook for 2020 for Mount Gambier is that the housing market will remain stable throughout the year, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>"We are not aware of any obvious indicators that will have a significant impact on the local economy and the property sector," the valuation firm said. </span></p>
<p><span>As seen in the graph below, house sales for 2019 were at similar levels to where they have been since 2014 and it is expected that this trend will continue throughout 2020. </span></p>
<p><span>The report notes the median housing price has increased slightly in recent years, however there is still a large supply of housing and land for sale, which does impact on growth in the region.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2020/3/9/mount%20gambier%201.png" target="_blank">Click here</a> to enlarge:</p>
<p><span><img src="https://www.urban.com.au/images/2020/3/9/mount%20gambier%201.png" alt=""></span></p>
<p>Source: HTW </p>
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<p><span>The graph below shows the number of houses sold within the $400,000 to $500,000 price range for the past 10 years. </span></p>
<p><span>There was a significant drop between 2010 and 2011 when the market declined, however there has been a steady incline in sales since then, with sales within this range now the highest they have been in the past 10 years. This may be something to watch this year to see whether sales within this range </span>continue to increase or we start to see a few more house sales above $500,000.</p>
<p>A three bedroom house in Mount Gambier was sold for $465,000 in December last year. </p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-130158458" target="_blank">49 Bertha Street </a>(pictured below), the house comes with open living area, kitchen, pergola and heated swimming pool. </p>
<p>Other features include double garage, rear courtyard and ceiling fans. </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/2020/3/9/49%20bertha%20st.jpg" alt=""></p>
<p><a href="https://www.propertyobserver.com.au/images/2020/3/9/mount%20gambier%202.png" target="_blank">Click here</a> to enlarge:</p>
<p><img src="https://www.urban.com.au/images/2020/3/9/mount%20gambier%202.png" alt=""></p>
<p>Source: HTW </p>
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<p><span>"The $200,000 to $300,000 price range is affordable and it’s where the most number of sales occurs," the valuation firm said. </span></p>
<p><span>A house in this range appeals to families and first home buyers and are generally of good quality, including three or four bedrooms, one or two bathrooms, a garage and a pergola area, situated on 600 to 800 square metres.</span></p>
<p><span>This is affordable compared to other cities such as Adelaide, where $250,000 to $300,000 will generally get you a small two-bedroom, one- bathroom unit or house situated on a small allotment of around 200 square metres.</span></p>
<p><span>A Mount Gambier stone house on a 1,351sqm allotment has hit the market with $285,000 hopes.</span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-sa-mount+gambier-132832122" target="_blank">9 Duigan Street </a>(pictured below).</p>
<p><span>It features renovated </span>kitchen/meals, dining area, rumpus room and established garden. </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/2020/3/9/9%20duigan%20st.jpg" alt=""></p>
<p><span>Small regional towns are heavily reliant on a small number of industries. </span>These towns should therefore be treated with caution as they are dependent on local employment.</p>
<p>History has shown that decreases in employment will impact negatively on the property market in these regions.</p>
<p><span>"Overall, we are expecting this year to be similar to last year with no major fluctuations in the local market," the valuation firm said. </span></p>
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<p><span>Slow and steady growth is expected over the course of 2020 in the Gladstone region, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>ask their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>"The market is still being driven by affordability and we will likely see further value increases across 2020," the valuation firm said. </span></p>
<p><span>"We expect rental levels to continue to increase </span>on the back of low vacancy rates (the current vacancy rate sits at about 1.8 percent)." </p>
<p>A two bedroom apartment in Gladstone Central has been listed for rent with a price of $260 per week. </p>
<p>Located at <a href="https://www.realestate.com.au/property-apartment-qld-gladstone+central-411938087" target="_blank">235/75 Central Lane</a> (pictured below), the apartment comes with two air-conditioned bedrooms, open plan living area, kitchen and balcony. </p>
<p>There is a single undercover car 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/gladstone%201.jpg" alt=""></p>
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<p><span>The trend in new construction activity is expected to remain steady.<br></span></p>
<p><span>Builders are currently reporting high enquiry levels, however the supply of land is limited</span>.</p>
<p>The report notes near level, 800 square metre plus allotments are in greatest demand.</p>
<p>A Sun Valley home sitting on 1,283sqm block with harbour views has recently been sold for $710,000.</p>
<p>The five bedroom, three bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-sun+valley-126848798" target="_blank">12 Trinity Place </a>(pictured below).</p>
<p>The home comes with large living and entertaining area, kitchen with Miele appliances and heated in ground pool. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/sun%20valley.jpg" alt=""></p>
<p>There is still an oversupply of small lots in Gladstone.</p>
<p>"We have seen a recent trend of developers combining two or more smaller allotments to create larger lots to suit current demand. We expect to see more of this in 2020," the valuation firm said. </p>
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Gladstone property market expected to see slow and steady growth in 2020: HTW residential 

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<p>Population growth is over two percent year- on-year, investment in infrastructure including development of the Northbourne Avenue corridor, the Canberra Hospital expansion, a new Canberra Theatre and the successful introduction of Stage 1 of the light rail system (with plans in place for Stages 2 to 4) seem to be attracting more people to the Bush Capital, according to the Herron Todd White (HTW) residential report. </p>
<p><span>"So what does this mean for the Canberra housing market? Well, let’s look back before we look forward. </span>2019 brought us the long awaited conclusion to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, record low interest rates as well as a general election and the media frenzy regarding the Sydney and Melbourne housing markets.</p>
<p><span>"Any one of these events could have significantly affected the Canberra market but what actually happened? Not a lot! Houses still sold and most real estate agents have had a very good year, thank you very much," the valuation firm said. </span></p>
<p>In fact, records were broken w ith <a href="https://www.realestate.com.au/sold/property-house-act-red+hill-132279254" target="_blank">30 Mugga Way, Red Hill</a> (pictured below), selling for $5.85 million at the tail end of the year.</p>
<p><span>Sitting on a 5,110sqm allotment, the home comprises five bedrooms, formal lounge and dining, study, and established front garden.</span></p>
<p><span>Other highlight include swimming pool, tennis court, wine cellar for 460 bottles and three car 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/red%20hill.jpg" alt=""> </span></p>
<p><span>"So what of 2020? From my Year 7 economics lessons, I recollect the effects of supply and demand on any market and it is no different in the Canberra housing market. </span>There is a predicted rise in population (for the reasons stated above) and these people will all need somewhere to protect them from the Canberra elements (freezing winter conditions and searing summer heat)," the valuation firm stated. </p>
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<p><span>"So demand is there but what about supply? Sales of Mr Fluffy blocks have slowed considerably with the general consensus being that you can get better value elsewhere," the valuation firm continued. </span></p>
<p><span> New land releases in Wright, Coombs, Denman Prospect, Throsby, Taylor and Strathnairn have seen steady sales with additional land releases in Whitlam set for March 2020. </span></p>
<p><span>The report notes these should keep the building contractors in Canberra busy over the coming year and possibly see a rise in already high construction costs.</span></p>
<p><span>Supply of units is a slightly different story although it is influenced by locality, according to the HTW report. </span></p>
<p><span>Units in areas such as Gungahlin (approximately 14 kilometres from Civic), have seen values drop slightly due to rapid development, with an influx of units coming onto the market and reduced demand (back to Year 7 economics).</span></p>
<p><span>A one bedroom apartment in Gungahlin (pictured below) is currently on the market with $295,000 hopes. </span></p>
<p>The apartment at <a href="https://www.realestate.com.au/property-apartment-act-gungahlin-133018726" target="_blank">116/1 Anthony Rolfe Avenue</a> comprises living area, designer kitchen and one bedroom.</p>
<p><span>The complex features 25m swimming pool, gym and barbecue 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/gungahlin.jpg" alt=""></span></p>
<p><span>"Elsewhere, the value of units is expected to be steady although it will be interesting to see the effect of the recent media attention given to poorly designed or built units in Sydney and Melbourne and whether this will see potential purchasers turning their attention from buying off plan to looking at older more established blocks. </span></p>
<p><span>"However, it’s not all bad news for owners of units as rental income is high and vacancy rates are low and there is no reason to believe this will change over the coming year," the valuation firm said. </span></p>
<p><span>Housing in established suburbs is still expected to be in demand with property selling well, </span>particularly in the popular inner south and inner north.</p>
<p>The report suggests Ainslie and Yarralumla are leading the field with regards to median house prices which are well over $1 million.</p>
<p>At the other end of the scale, areas further away from Civic have a lower median house price such as Belconnen ($375,000), Charnwood ($458,000), Banks ($488,500) and Phillip ($490,000).</p>
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<p><span>"The introduction of the home buyer concession scheme, which means that first time buyers pay no stamp duty </span>if their income is under a certain threshold, has strengthened the lower end of the market. Unfortunately, this has generally resulted in any savings being absorbed by the rise in sale price due to an increased number of people looking at property in this price bracket.</p>
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<p><span>"We anticipate a slightly slow start to 2020, which is not uncommon, followed by a steady year with some growth in all sectors except for the unit market which is expected to be fairly stagnant with some fall back in places. However, don’t be surprised if that record sale price is toppled in 2020." </span></p>
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Canberra to see growth in all sectors except unit market in 2020: HTW residential 

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<p>In 2019, the Sunshine Coast property market was a tale of two halves, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes that the first half of 2019 saw a slow down on the back of the slowing Sydney and Melbourne markets, the effects of the banking royal commission and the lead up to the federal election in May.</p>
<p>Move ahead a few months and all these concerns appeared to be turned around. An election result perceived by the market to be favourable, improvement in the Sydney and Melbourne markets and passing effects of the Banking Royal Commission all led to an injection of confidence. The end of 2019 finished very well.</p>
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<p><span>"As always, the first quarter will be a good indicator on how the year will unfold. Should the Sydney and Melbourne markets continue to perform well, this will be a good sign for the coast market. </span></p>
<p><span>"Unfortunately, like 2019, 2020 has the dark cloud of not one but two elections looming. The local government election is set down for the end of March and the state election set for the end of October. Uncertainty always presents a challenge to the market," the valuation firm stated. </span></p>
<p><span>The report notes coastal areas with proximity to the beach are always highly sought after. The coast lifestyle is a major driving factor and there is no reason this will not continue. The coastal strip from Noosa to Caloundra in the sub-$800,000 price range is expected to continue to be in demand.</span></p>
<p><span>A beachfront three bedroom apartment in Caloundra was sold for $870,000 in February. </span></p>
<p>The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-caloundra-132489390" target="_blank">415/10 Leeding Terrace </a>(pictured below) located right on Bulcock Beach. </p>
<p><span>It comes with master bedroom with ensuite, two bathrooms and two car spaces.</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/caloundra%202.jpg" alt=""></span></p>
<p><span>"It is expected that the larger estates of Aura located to the south of Caloundra and the Harmony </span>Estate at Palmview will continue to generate good interest from both owner-occupiers and investors.</p>
<p>"We also expect to see good interest in the hinterland subdivisions in the railway townships such as Habitat in Palmwoods, with larger land sizes being the driver," the valuation firm said. </p>
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<p><span>There are a number of unit complexes under construction with some due for completion this year. </span></p>
<p><span>"From what we have seen, the majority of interest is in owner-occupier style units and complexes that directly target this market are going well. Smaller, investment grade units have been lagging, especially if they suffer from high body corporate fees making it difficult to make a return. The established unit product is also influenced by this," the valuation firm said. </span></p>
<p><span>The prestige markets across the coast have been operating at a number of different speeds. </span></p>
<p><span>The areas in and around Caloundra to the south and Mooloolaba and Maroochydore to the central parts of the coast have been turning over and have been pretty steady with some good prices. The headline continues to be the Noosa Heads region on the northern coast, which finished </span>off the year well with some record prices being recorded.</p>
<p>"An example of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-unit-qld-noosa+heads-131831462" target="_blank">a Hastings Street beachfront unit, Unit 6, Noosa Court</a> (pictured below) for $9 million or $37,500 per square metre and this wasn’t even the best unit in the complex!</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/noosa%20heads.jpg" alt=""></p>
<p>"We have initial reports of a beachfront unit that is under contract for circa $42,000 per square metre. This market is heavily influenced by the Sydney and Melbourne markets, so the improved confidence there has helped as well as ex-pat and international buyers becoming more active on the back of the weak Aussie dollar," the valuation firm said. </p>
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<p><span>The report notes the good news stories continue to be the considerable infrastructure projects underway that should attract new investment to the coast. </span></p>
<p><span>The Maroochydore CBD and Sunshine Coast Airport expansions have been moving along with the Sunshine Coast International Broadband Submarine Cable project dovetailing in beautifully. Providing Australia’s fastest telecommunications connection to Asia and the second fastest to the United States is an unbelievable opportunity for a regional centre.</span></p>
<p><span>"2020 is still expected to see some good activity across the residential market. Will it be as strong as 2019 is anyone’s guess given the two looming elections. There is one thing for certain - the Sunshine Coast appears to be positioned well for the future." </span></p>
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Sunshine Coast infrastructure projects continues attracting investors in 2020: HTW residential

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<p><span>As the Rockhampton and surrounding residential markets enter 2020, there is a feeling of optimism and increased confidence for the year ahead, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span> The report notes the close of 2019 saw increased sales activity, shorter selling periods and a firming of sale prices. In particular, well maintained and well-presented owner-occupied homes in sought-after suburbs have been leading the charge.</span></p>
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<p><span>Many agents are reporting a shortage of listings due to having sold the majority of their stock. For the first time in many years, buyers are feeling the pinch with stories emerging of some now starting to miss out on their first choice of homes.</span></p>
<p><span>"Vacancy rates reduced dramatically throughout the course of 2019 and are currently very tight. This has resulted in an increase in rents which we anticipate will hold firm during 2020," the valuation firm said. </span></p>
<p><span>"So, you ask, what’s driving the change?</span></p>
<p><span>"Well, we are now seeing significant government infrastructure projects coming to fruition, particularly Main Roads committing to major upgrades including the Gracemere duplication, Parkhurst corridor and of course the Rockhampton Ring Road which is now in the early stages of planning and resumption," the valuation firm said. </span></p>
<p><span>This combined with </span>a surprise federal election result in May 2019 gave Central Queensland a boost in confidence, particularly in the resource and mining sectors which have largely experienced improvements in production, and created new jobs throughout the latter half of 2019.</p>
<p><span>"In summary, all the key components are there for what should be a positive year ahead with firming conditions predicted in what is shaping up to be a recovery year for the region. After all, it has to be said that the past seven to eight years have largely been disappointing from a property and economic perspective." </span></p>
<p><span>A riverfront apartment in Rockhampton City has recently been sold for $650,000.</span></p>
<p>The three bedroom, two bathroom apartment is located at <a href="https://www.realestate.com.au/sold/property-unit-qld-rockhampton+city-132219102" target="_blank">901/58 Victoria Parade</a> (pictured below). </p>
<p><span>It features large balcony, stone kitchen and allocated two car basement parking. </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/rockhampton%202.jpg" alt=""></span></p>
<p> </p>
<p><span>A current listing is a West Rockhampton three bedroom house priced at $350,000.</span></p>
<p>Located at<a href="https://www.realestate.com.au/property-house-qld-west+rockhampton-132806430" target="_blank"> 52 Pennycruick Street</a> (pictured below), the house comprises 3 bedrooms, open plan living and entertaining patio.</p>
<p><span>Other features include hardwood timber floors, ceiling fans and 3 street frontages. </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/west%20rockhampton.jpg" alt=""></span></p>
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Rockhampton property market to recover in 2020: HTW residential 

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<p><span>Given the positive final quarter of 2019, the central Gold Coast area is anticipated to remain fairly buoyant throughout the first half of 2020, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>ask their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes sales activity spiked during September and October 2019 and local agents have reported that good levels of demand continued throughout holiday period for a broad range of property.</span></p>
<p><span>The stable market conditions in the Sydney and Melbourne property markets along with the low interest rate environment and easing of lending policy has given confidence to local buyers, particularly those seeking to purchase property priced in the higher price brackets. </span></p>
<p><span>"Burleigh Heads and Burleigh Waters remain hot spots, however more recently we have noticed good sales activity in the suburbs of Miami and in Sorrento (Bundall)," the valuation firm said. </span></p>
<p><span>A two bedroom beach styled dimples in Miami has recently been sold for $670,000.</span></p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-miami-125810922" target="_blank">2/10 Cantwell Court </a>(pictured below), it comes renovated bath and kitchen, indoor and outdoor living space and backyard. </p>
<p><span>Set on a 372sqm block, the house is only 900m away from Miami beach. </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/miami%20.jpg" alt=""></span></p>
<p><span>The report notes it will be interesting to see how property will perform within the Isle of Capri (Surfers Paradise) over the year. </span></p>
<p><span>The Isle of Capri is regarded as one of the preferred residential waterfront areas within the established areas of the central Gold Coast, being within close proximity to the Surfers Paradise CBD. </span></p>
<p><span>A fairly large infrastructure project (road bridge upgrade) has commenced which aims to improve traffic flow through the locality (to and from the CBD area). The expected completion of the project according to local council is mid 2021.</span></p>
<p> </p>
<p><span>In </span>the meantime, residents are likely to be disrupted by the project due to increased traffic congestion caused by the ongoing road works.</p>
<p>"We will wait to see if the project has any significant impact on property sales in this pocket," the valuation firm stated. </p>
<p>A waterfront house in Isle of Capri was sold for $4.5 million in January. </p>
<p>The four bedroom, three bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-isle+of+capri-132828586" target="_blank">25 The Corso </a>(pictured below).</p>
<p>The home comes with indoor and outdoor living space, swimming pool, open plan gourmet kitchen and four car 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/2020/3/9/isle%20of%20capri.jpg" alt=""></p>
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<p><span>The unit market may experience slightly tougher conditions in 2020 compared with 2019, according to the HTW residential report. </span>This market (particularly within Surfers Paradise and Broadbeach) is heavily reliant on investors from interstate and overseas.</p>
<p><span>With a good volume of new unit stock introduced in 2019 and more high density projects due to be completed this year on the central Gold Coast, there is some concern about a potential oversupply in this area. </span></p>
<p><span>"On a more positive note, general feedback from local real estate agencies suggests that demand for rental properties has remained firm and rental values are trending upwards," the valuation firm said. </span></p>
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Central Gold Coast market to remain buoyant in the early 2020: HTW residential 

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<p><span>When commenting on property price drivers such as infrastructure, the largest of the lot is the Badgerys Creek Airport and surrounding development, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked their values </span>to give an educated outlook on the residential market in their service areas.</p>
<p><span>"This area will be transformed from cow paddocks and market gardens into a bustling metropolis aptly named the Aerotropolis," the valuation firm said. </span></p>
<p><span>The report suggests one market to keep an eye on is the new unit market in the Parramatta local government area. </span></p>
<p><span>A significant amount of new units are expected to be completed in the first half of 2020 and this will continue with up to 21,100 dwellings forecast to be constructed by 2023, most of these being residential units. </span></p>
<p><span>"What we do know is that there is a large difference between forecast numbers and actual construction numbers as developers may hold off on construction to ride out lulls in the market, so we will wait and see how things unfold," the valuation firm stated. </span></p>
<p><span>Traditionally, a large number of completions leads to more stock entering the resale market. </span></p>
<p><span>Given the </span>negative market sentiment surrounding new units over the past year, vendors must be prepared to meet the market in order to facilitate a sale.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/2/10/western%20syd.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/2020/2/10/western%20syd.jpg" alt=""></p>
<p>Source: HTW</p>
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<p><span>Western Sydney has seen a boom in granny flat construction over the past decade, with property owners taking advantage of larger allotments to build granny flats to add value and create a second income. </span></p>
<p><span>"With interest rates at historic lows and the potential for five percent plus returns, </span>we believe granny flat construction will continue to be a popular choice for investors throughout 2020," the valuation firm said. </p>
<p>A recent example is <a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132604830" target="_blank">24 Duckmallois Avenue, Blacktown</a> (pictured below), an older three-bedroom dwelling with a new two-bedroom granny flat at the rear, which sold for $757,000 in December, returning $800 per week in rent. This equates to a gross yield of approximately 5.5 percent.</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/2020/2/10/blacktown.jpg" alt=""></p>
<p><span>"The high growth seen in the last quarter of 2019 is unlikely to continue throughout 2020. </span>Affordability will be a key issue.</p>
<p>"As household incomes are still under significant pressure, buyers will need to look to the outer suburbs in order to find affordable property. This will benefit the western suburbs of Sydney where there is still property at an affordable price point, relatively speaking," the valuation firm stated. </p>
<p>Investors will be prevalent throughout 2020 with yield a big driver.</p>
<p>Prudent purchasers should keep an eye out for any infrastructure being built and get in before prices shift again.</p>
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