<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>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>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/felixstow.jpg" alt=""></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>
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<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>
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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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