<p data-end="256" data-start="0"><a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.</p>

<p data-end="446" data-start="258">The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.</p>

<p><img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.</p>

<p>The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.</p>

<p>The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”</p>

<p data-end="626" data-start="350">Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.</p>

<p data-end="928" data-start="628">“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”</p>

<p data-end="1147" data-start="930">Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.</p>

<p data-end="1510" data-start="1149">“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”</p>

<p data-end="1510" data-start="1149"><img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" /></p>

<p>&nbsp;</p>

<p>The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.</p>

<p>Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.</p>
</section>


Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

<p style="text-align:start">The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;</p>

<p>The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.</p>

<p>The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p>The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.</p>

<p>As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.</p>

<p><img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" /></p>

<p>The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.</p>

<p>Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.</p>

<p>“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.</p>

<p>“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;</p>

<p>Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.</p>

<p>“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.</p>

<p>“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”</p>


Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

<html><body><div class="page" title="Page 15">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Starting off the new year with the right market </span>conditions, there are a handful of locations that have indicated strong growth potential this year in the south- eastern regions of Melbourne, according to the latest Herron Todd White (HTW) residential report. </p>

<div class="page" title="Page 15">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The report suggests one of the suburbs to look out for is Officer. </span></p>

<p><span>Located approximately 50 kilometres south-east of the central business district and situated between Pakenham and Berwick, Officer has become one of the fastest growing<br>
suburbs in the outer south-eastern growth corridor.</span></p>

<p><span>"Officer stands to be one of the best suburbs to invest in for 2020, where the median house price is $549,000 and the gross yield is 3.8 percent.</span></p>

<p><span>"With affordable house and land packages combined with low interest rates, government incentives and looser loan serviceability tests, these new estates are perfect for those looking to purchase their first home or migrating families who are looking to make Melbourne their home for the first time," the valuation firm said. </span></p>

<p><span>[smartcode_project:default project_id=31283]</span></p>

<p><span>A four bedroom house in Officer has recently been sold for $610,000.</span></p>

<p>The four bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-officer-132746354" target="_blank">13 Zoe Lane</a> (pictured below).</p>

<p><span>It features open plan family room, formal lounge, modern kitchen and decked outdoor space. </span></p>

<p><span>The house is situated within walking distance to the cafe, future town centre and new medical centre. </span></p>

<p><span><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/officer%20.jpg"></span></p>

<p>A current listing in Officer is a four bedroom brick veneer house priced at $540,000 to$580,000.</p>

<p>Situated at <a href="https://www.realestate.com.au/property-house-vic-officer-131691118" target="_blank">58 Millicent Parade</a> (pictured below), the home comprises four bedrooms, two separate entertaining areas, and kitchen with walk in pantry. </p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/officer%202.jpg"></p>

<p>Other features include wall to wall carpets, tiled wet areas and landscaped front and rear gardens. </p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Melbourne's Officer - one of the best suburbs to invest in for 2020: HTW residential 

<html><body><div class="page" title="Page 15">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The property market has shone in the past seven years showing extraordinary growth in property prices in the northern suburbs of Melbourne, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes last year’s property market results ended on a high note as we saw </span>the fastest turnaround in history, with improving prices and clearance rates leading into the new year of 2020.</p>
<p>With property values rising, sellers are expected to cautiously return to the market, increasing stock levels.</p>
<div class="page" title="Page 16">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"So, what do we know moving forward into 2020? We can be assured that the Reserve Bank’s main focus will be to decrease unemployment rates and to increase wages, which will likely result in interest rates falling further throughout the year, making </span>it even more affordable to enter the market," the valuation firm said. </p>
<p>This trend could see an upside in developing areas such as Craigieburn, Kalkallo and Mickleham, which may prove to be the only truly affordable option for the inner and outer northern suburbs.</p>
<p><span>"By offering properties at affordable prices, these areas may still be the choice for migrating families moving to Melbourne or country Victorians wanting to move closer to Melbourne," the valuation firm said. </span></p>
<p><span>A Craigieburn three bedroom house has been sold for $570,000.</span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-132823606" target="_blank">32 Newlyn Drive </a>(pictured below).</p>
<p><span>Set on 650sqm, the home comes with well-appointed kitchen, meals area, and pergola overlooking backyard. </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/2020/2/24/craigeburn.jpg" alt=""></span></p>
<p><span>Areas in the desirable suburbs of the inner north such as Abbotsford, Carlton and Richmond should expect to see moderate to low stock on the market.</span></p>
<p><span>The report notes blue chip properties that tick all the boxes will continue to perform in 2020.</span></p>
<p><span>"Low vacancy rates will also be evident in these areas with vacant dwellings being snapped up either by investors or renters," the valuation firm said. </span></p>
<p>A Richmond Victorian house has recently been sold for $1.67 million. </p>
<p>The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-richmond-132848686" target="_blank">10 Moorhouse Street</a> (pictured below). </p>
<p>It comes with open plan living, north facing courtyard and spacious kitchen. </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/2020/2/24/richmond%20.jpg" alt=""></p>
<p> </p>
</div>
</div>
</div>
</div>
<p><span> </span></p>
</div>
</div>
</div>
</div></body></html>

Desirable Melbourne inner north suburbs to see low vacancy rates in 2020: HTW residential 

<html><body>
<p class="page" title="Page 15"> </p>
<div class="section">
<div class="layoutArea">
<div class="column">Over the past few years, Melbourne CBD has witnessed an influx in supply of new apartments, according to the latest Herron Todd White (HTW) residential report. </div>
<div class="column"> </div>
<div class="column">The report suggests 2020 should see demand for Melbourne apartments remain steady as approvals for new residential developments hit a peak in 2017 and have since slowed down.</div>
<div class="column"> </div>
<div class="column">Most of these developments have been high density and located in the northern grid of the CBD.</div>
<div class="column"> </div>
<div class="column">"A slowdown in the residential development sector could slow the apartment supply, resulting in a boost in demand for rental properties due to strong migration and appeal of Melbourne to international and interstate higher education students and workers relocating closer to the business district, which has continually encouraged strong rental growth and helped maintain current rental returns for these CBD and inner city apartments," the valuation firm said. </div>
<div class="column"> </div>
<div class="column">A two bedroom apartment in Melbourne CBD has been listed for rent with a price guide of $700 per week.</div>
<div class="column"> </div>
<div class="column">The two bedroom, two bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-424612982" target="_blank">502/9-23 MacKenzie Street </a>(pictured below). </div>
<div class="column"> </div>
<div class="column">It comes with open plan living, design kitchen and terrace balcony. </div>
<div class="column"><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/2020/2/24/melbourne%20cbd.jpg" alt=""></div>
<div class="column">
<p><span>The report notes that one of the biggest struggles in the market is settlement for off-the-plan apartments. </span></p>
<p><span>It is proving a significant challenge for developers with many of the major lenders tightening or altering their lending policies to foreign investors or contracts subject to the Foreign Investment Review Board resulting in longer than normal settlement periods and further exacerbating settlement risk.</span></p>
<p><span>"New developments within city fringe suburbs such as South Yarra, Richmond, St Kilda, Abbotsford and Collingwood are contributing to this concern of oversupply. </span></p>
<p><span>"Demand will need to remain strong if supply is to be matched over the medium term." </span></p>
<p><span>A St Kilda one bedroom apartment has recently been sold for $406,000.</span></p>
<p>The 4th floor apartment is situated at <a href="https://www.realestate.com.au/sold/property-apartment-vic-st+kilda-132835810" target="_blank">408A/33 Inkerman Street</a> (pictured below).</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/2020/2/24/st%20kilda%20.jpg" alt=""></p>
<p><span>It features open plan living and dining, designer kitchen, alfresco balcony and bedroom with fitted BIRs. </span></p>
</div>
</div>
</div>
<p> </p>
</body></html>

Demand for Melbourne CBD apartments to remain steady in 2020: HTW residential 

<html><body><div class="page" title="Page 10">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>2019 started in the doldrums and finished on a high with record sales across a number of suburbs in Newcastle, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked their </span>valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes records sales tend not to happen in a falling or subdued market.</span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-bar+beach-131859426" target="_blank">16 Bar Beach Avenue, Bar Beach</a> (pictured below) sold for $5.525 million towards the end of 2019 and set the record in Newcastle for a single residential holding.</p>
<p><span>This eclipsed the $5.51 million paid at the beginning of 2019 for 40 Kilgour Avenue, Merewether.</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/2020/2/10/bar%20beach.jpg" alt=""></span></p>
<div class="page" title="Page 10">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-131281662" target="_blank">21 Flowerdale Drive, Merewether Heights </a>(pictured below) sold for $2.18 million with settlement due in the first quarter of 2020.</p>
<p><span>This property saw strong interest after a significant media campaign and is a record for the Merewether Heights location.</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/2020/2/10/merewhether%20.jpg" alt=""></span></p>
<div class="page" title="Page 10">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>So with the backdrop of a resurgent market and most agents reporting increased interest across the board, 2020 starts with a whiff of optimism (and at the time of writing, a fair waft of smoke). </span></p>
<p><span>The same could not be said for Newcastle and the Hunter 12 months prior in January 2019. </span></p>
<p><span>This time last year, pessimism abounded. </span></p>
<p><span>"How long this current resurgence lasts or whether it can be knocked off course easily is yet to be seen. </span>Our prediction is that it can’t be as strong as the last uptick (2012 to 2017), which was unprecedented for the area with massive increases across the board in all property sectors," the valuation firm said. </p>
<p><span>“Part-time psychologist hat being reached for and placed on head at a jaunty angle” warning.<br></span></p>
<p><span>"If we were to hazard a guess, it would be fair to say that we are at an interesting juncture in the market," the valuation firm said. </span></p>
<p><span>The recent boom is fresh in the minds of all property investors and professionals. </span></p>
<p><span>When the boom finished, many who either missed the boat or didn’t fully capitalise will have made promises to themselves that next time the ship sets off, they would get up that gangplank sharpish (or whatever it is they board ships with these days; with our smarts, we have probably moved past planks). </span></p>
<p><span>"We suspect that the recent gains in the market locally are born from the fear of missing out a second time. That’s a powerful driver in any market." </span></p>
<p><span>2020 is set to be a pivotal year in our future with a number of events all converging to a point where something monumental is likely to happen. </span></p>
<p><span>"We have US elections winding up like a coiled spring, ever-growing awareness of and focus on climate action and China testing out sovereign nations’ resolve across the globe. </span>Any of these have the ability to derail or boost the economy like nothing has for a decade or more," the valuation firm noted. </p>
<p>And Newcastle and the Hunter is like a bug hanging on for grim death to the windscreen, being buffeted by headwinds as speed quickly escalates, whilst simultaneously trying to avoid the jet of water shot fair up the caboose followed by the wiper of death.</p>
<p>"We are at the mercy of things bigger and more complex than us." </p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Newcastle market resurgence yet to be seen in 2020: HTW residential 

<html><body><div>
<div>
<div>
<p>Recovery for investor stock in inner Sydney and eastern suburbs has been patchy and is largely dependent on the supply pipeline in the given area, according to the latest Herron Todd White (HTW) residential report.</p>
<p>The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p>"This time last year, we were discussing the reality of being amidst a property downturn, particularly due to tightening credit availability as a result of the banking royal commission along with widespread negative market sentiment.</p>
<p>"We are now experiencing very different conditions with most inner city agents reporting persistently low levels of listings and this, combined with the renewed interest caused by interest rate declines, is set to cause the market to continue to recover," the valuation firm stated.</p>
<p>This is particularly the case for good quality, owner- occupier dwellings.</p>
<p>The first home loan deposit scheme commenced on 1 January 2020 and is likely to have a direct impact on the lower end of the property market but also flow-on effects to mid-level properties.</p>
<p>The usual possible headwinds for the Sydney property market include affordability constraints, credit availability and wider economic and political matters.</p>
<p>"Surry Hills is one to watch this year, particularly since the completion of the light rail, which has improved the public transport servicing the area and implemented traffic calming and management measures to reduce congestion," the valuation firm said.</p>
<p>This combined with the removal of construction and the associated aesthetic improvements should see a price increase in the area.</p>
<p>It is then likely that the neighbouring bridesmaid suburbs of Darlinghurst and Redfern will see some value uplift as a flow-on.</p>
<p>"Similarly, Randwick, Kensington and Kingsford in the east will benefit from the completion of the Randwick section of the light rail last December, with the Kingsford section due to open in March this year," the valuation firm added.</p>
<p>Kingsford in particular, with a median house price of $1.98 million according to realestate.com. au, could well prove popular for buyers priced out of the neighbouring suburbs of Randwick ($2.35 million) and Kensington ($2,571,500).</p>
<p>After being one of the worst performing inner city suburbs in 2018, Pyrmont appears to be recovering, largely due to plans to redevelop the fish markets and surrounding Blackwattle Bay precinct.</p>
<p>In addition, Mirvac is looking to redevelop the nearby Harbourside shopping centre and The Star casino is undergoing expansion and refurbishment, with a proposal for a new hotel atop the building.</p>
<p>Redfern is well serviced by public transport and is close to the city, yet provides plenty of green spaces.</p>
<p>It appears to be comparatively affordable in relation to its surrounding suburbs with a median of $1.4 million for a three-bedroom property (realestate.com.au).</p>
<p>The median for a similar property in Surry Hills is $1.65 million and across the park in Paddington is a whopping $2.235 million.</p>
<p>A renovated three bedroom house in Surry Hills has recently been sold for $1.615 million.</p>
<div title="Page 6">
<div>
<div>
<div>
<div title="Page 6">
<div>
<div>
<div>
<div title="Page 6">
<div>
<div>
<div>
<div title="Page 6">
<div>
<div>
<div>
<p>The three bedroom, one bathroom house is located at <a href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-132799382" target="_blank">25 Bennett Street</a> (pictured below).</p>
<p>It features stone topped kitchen, chic bathroom, and easycare garden.</p>
<p>The location is within close proximity to parks, Oxford Street and the CBD.</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/surry%20hills%20.jpg" alt=""></p>
<p>"The suburb as a whole is shaking its social stigma and it remains a popular choice for young professionals and families with the eastern corridor of the suburb considered the most desirable," the valuation firm commented. </p>
</div>
<div>
<p>As always, high density, investor centric markets should be treated with caution, particularly those with large pipelines of new apartments, including Waterloo, Zetland and Rosebery.</p>
<p>Whilst the current supply pipeline may settle and even return to below average levels in 2021, the timing of projects settling throughout 2020 is unfortunate for purchasers, as many projects sold off the plan in the peak of the market.</p>
<p>Therefore any purchasers unable to settle may be required to off load at a loss.</p>
<p>A recent example is <a href="https://www.realestate.com.au/sold/property-apartment-nsw-waterloo-131445738" target="_blank">106/16A Gadigal Avenue, Waterloo </a>(pictured below) in the Emblem development (below) that was sold off the plan on 17 June 2015 for $970,000 and re-sold (nine months after completion) on 21 August 2019 for $910,000.</p>
<div title="Page 6">
<div>
<div>
<div>
<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/waterloo%20.jpg" alt=""></p>
<p>The report suggests the other factor impacting this market segment is the ongoing negative sentiment related to building issues in newer, large scale developments.</p>
<p>This could potentially continue to be a significant factor and it is imperative that purchasers take due care when buying into newer large scale developments.</p>
<p>There are a few other elements that will unfold throughout the year that could have specific effects on some locations throughout the inner regions of Sydney.</p>
<p>For example, the lockout laws are set to be wound back across much of inner city Sydney (although not in Kings Cross).</p>
<p>"It will be interesting to see if this has some impact on property prices through changes to nightlife premises operating hours and the flow on impacts of noise and patron behaviour.</p>
<div title="Page 7">
<div>
<div>
<div>
<p>"CBD apartments are likely to also benefit from light rail completion and traffic flow alterations, while the WestConnex motorway construction is likely to continue to impact Rozelle, Lilyfield and some inner western areas." </p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Inner Sydney market continues to recover in 2020: HTW residential 

<html><body><div class="section">
<div class="layoutArea">
<p class="column"><span>The start of 2020 has been tragic with catastrophic bushfires across the country and New South Wales being particularly hard hit, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p class="column">The valuation firm asked their values to give an educated outlook on the residential market in their service areas in February.</p>
<p class="column"> <span>"Time will tell how this will play out both economically and politically for the remainder of the year and what impacts this may have on the wider property market," the valuation firm said. </span></p>
<p class="column"><span>After the start of the recovery from the middle of the year, 2019 enjoyed a 5.3 percent increase in Sydney dwelling values over the year.</span></p>
<p class="column">The last quarter of 2019 ended with a bang as Sydney property prices jumped 6.2 percent in the last quarter alone, with prices now only 6.4 percent below the 2017 peak (CoreLogic).</p>
<p class="column">"We believe this jump was mostly due to an increase in demand after the elections and interest rate cuts, while new listing levels remained fairly subdued in comparison to prior years," the valuation firm stated.</p>
<p class="column"><a href="https://www.propertyobserver.com.au/images/2020/2/10/sydney%201.jpg" target="_blank">Click here</a> to enlarge:</p>
<p class="column"><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/sydney%201.jpg" alt=""></p>
<p class="column">Breaking down the numbers further, the top quartile of property prices saw the quickest recovery in prices in 2019 with a seven percent increase, compared to the bottom quartile only experiencing a 1.4 percent increase (CoreLogic).</p>
<p class="column">The report suggests houses (6.1 percent increase) also performed better than units (3.4 percent increase) across 2019 according to CoreLogic.</p>
<p class="column">This is not surprising since houses fell at a quicker rate during the downturn and unit prices are still being affected by an oversupply of new units in some areas.</p>
<p class="column">Sydney also had seven of the top 10 performing metro sub-regions across the country, with the inner west and Baulkham Hills and Hawkesbury sub-regions both experiencing 8.8 percent increases over the year (CoreLogic).</p>
<p class="column"><a href="https://www.propertyobserver.com.au/images/2020/2/10/sydney%202.jpg" target="_blank">Click here </a>to enlarge:</p>
<p class="column"> <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/sydney%202.jpg" alt=""></p>
<p class="column">"Overall, we expect new listings to increase in the first half of 2020 which should see price growth begin to moderate. Despite this we still expect to see prices increase by around 10 percent for the year, which will mean prices should move above the previous peak in the second half of the year.</p>
<p class="column">"We expect prices to be fairly strong across most regions and sub-sectors however we expect the lower quartile to begin to improve at a quicker pace while new units in over- supplied suburbs may remain weaker for the first half of the year."</p>
<p class="column">A number of infrastructure developments have recently opened, or will open in 2020, which will continue to strengthen prices in the suburbs benefiting from these links.</p>
</div>
</div></body></html>

Sydney market expected to see moderate price growth in 2020: HTW residential Clock

<html><body><div class="page" title="Page 8">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The residential market for the 2020 year ahead in the Lismore, Casino and Kyogle area is likely to experience some improvement, continuing on the heels of the last six months of 2019 when sales </span>activity started to show signs of confidence after six months of subdued activity, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm asked their values to give an educated outlook on the residential market in their service areas.</p>
</div>
<div class="column">
<p><span>"Key factors to potentially influence house prices for 2020 include the projected low interest rate environment which last saw a 0.25 percent cut in October 2019 to an unprecedented low of 0.75 percent Reserve Bank rate, and it appears there possibly may be more cuts! </span></p>
<p><span>"However, it will be interesting to see how lenders react in their lending decisions which ultimately impact the success of most first home buyers and investors," the valuation firm said. </span></p>
<p><span>Providing that all the lender’s boxes are ticked, the savvy first home buyer and investor could do quite well this year as banks competitively seek their business.</span></p>
<p><span>"And yet, we are still stuck with the limited stock available complaint (as oft repeated by local real estate agents)," the valuation firm said. </span></p>
<p><span> So whilst the low interest rate environment may be considered conducive to an increase in potential property enquiry, if there </span>is no product available, then competition will ultimately rise for what is available and potentially see prices improve.</p>
<p><span>"It is interesting to note that in both Casino and Kyogle, there is very limited supply of vacant residential lots available for sale," the valuation firm stated. </span></p>
<p><span>This concern has been expressed with the Richmond Valley Council taking the initiative in acquiring one of the very few residential englobo lots available for sale in Casino. </span></p>
<p><span>The Council has some good form on this initiative, having recently completed the sale of all available vacant residential lot stock in the Settlers Estate on the eastern fringe of Casino. </span></p>
<p><span>"It is expected that due to the limited supply of vacant residential </span>land, demand for such a product is likely to be relatively strong especially since the prices are still considered to be reasonable for flat land.....think sub $150,000," the valuation firm said. </p>
<div class="page" title="Page 9">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Lismore City is faring rather better with new residential estates coming to fruition such as Hidden Valley Estate and other planned estates at Eastwood in Goonellabah which has already received positive enquiry with approximately 135 new lots to be created. </span></p>
<p><span>The market for vacant land has been steady up to this point in the Lismore City area. </span></p>
<p><span>The report notes level blocks are expected to continue to remain steady, however more steeply sloping blocks requiring significant foundation works </span>and increased construction costs may require some discounting from developers to shift.</p>
<p>Prices continue to improve to the point where the vast majority of level blocks are now well in excess of $200,000.</p>
<p><span>"With much of the land in Lismore City becoming available throughout 2020, local builders and project building companies will have plenty on their plates, so much so that we have noted a significant increase in construction costs in 2019 and likely to continue in 2020," the valuation firm said. </span></p>
<p><span>However, this does not appear yet to be dissuading owner-occupiers from building.</span></p>
<p><span>The demand for rental accommodation in Casino, Kyogle and Lismore City throughout 2020 is likely to remain relatively strong, particularly if first home buyers can not secure finance and therefore need to look for places to rent. </span></p>
<p><span>Newcomers to </span>the area have also raised the enquiry level for accommodation.</p>
<p>A one bedroom unit located within walking distance to Lismore CBD has been listed for rent with a price of $240 per week.</p>
<p>Located at <a href="https://www.realestate.com.au/property-unit-nsw-lismore-428329638" target="_blank">4/9 Jubilee Street</a> (pictured below), the unit features floorboards throughout kitchen and living area, garage  and plenty of storage. </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/lismore.jpg" alt=""></p>
<p><span>Properties north of $550,000 within Lismore City still appear to be in demand for the well-heeled owner-occupier looking to upgrade.</span></p>
<p><span>For Casino and Kyogle, residential properties in the $400,000 plus bracket are generally limited in number but tend to </span>sell reasonably swiftly when offered for sale.</p>
<p>A new listing is a Casino three bedroom house priced at $388,000.</p>
<p>The freshly painted house is located at <a href="https://www.realestate.com.au/property-house-nsw-casino-132902994" target="_blank">17 Cumberland Street</a> (pictured below).</p>
<p>Nestled on an 837sqm of land, it features modern kitchen, open plan family and dining area, and covered outdoor entertaining area. </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/casino.jpg" alt=""></p>
</div>
<div class="column">
<p><span>"In summary, Lismore City is a quiet achiever with Casino and Kyogle holding their own. </span></p>
<p><span>"Their proximity to some of Australia’s best coastline, a strong employment base from the government, education and rural sectors combined with relative affordability is likely to insulate these areas from significant falls that seem to befall larger, metropolitan areas," the valuation firm stated. </span></p>
<p><span>"In a market where the expectation is that improved properties are likely to continue be restricted in supply and coupled with a low interest rate environment, we should see some up-tick in prices across the board." </span></p>
<p><span>In short, 2020 is expected to be a year of slightly improved growth for Lismore City, Casino and Kyogle, however the rural lifestyle or rural farmlet sector can expect some hurt, especially if the protracted dry conditions continue.</span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Lismore, Casino and Kyogle residential markets likely to improve in 2020: HTW residential 

<html><body><div class="page" title="Page 7">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The lower north shore prestige market experienced a fluctuating year in 2019, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked their valuers </span>to give an educated outlook on the residential market in their service areas.</p>
<p><span> The report notes the market started very slowly with the number of transactions significantly down, although the second half of the year saw a notable improvement in market activity. </span></p>
<p><span>"We expect there to be continued high buyer confidence in 2020 within this sector of the market, barring any unforeseen financial or international turmoil. </span></p>
<p><span>"We believe that transaction numbers and sale prices throughout the year will remain strong, although not at the levels seen during the peak of the market cycle," the valuation firm said. </span></p>
</div>
</div>
<div class="page" title="Page 8">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The report notes Mosman could well see its suburb record sale price broken this year.</span></p>
<p><span> It was previously set in 2018 with a $25 million sale on Hopetoun Avenue. </span></p>
<p>The property as <a href="https://www.realestate.com.au/property-house-nsw-mosman-131588450" target="_blank">2 Rosherville Road, Mosman</a> (pictured below), set on 1473 square metres of waterfront land, is currently on the market with a reported asking price of around $30 million (news.com.au).</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/mosman%202.jpg" alt=""></p>
<p> </p>
<p><span>"This property has been on the market since the middle of 2019 so we will wait to see if market conditions this year support the property transacting at this price level."</span></p>
<div class="page" title="Page 8">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"The inner Sydney prestige market will continue to be buoyed throughout 2020 by the current projects being constructed in the Circular Quay precinct and further development of Barangaroo," the valuation firm said. </span></p>
<p><span>In late 2019 it was reported that a penthouse, two apartment amalgamation, had sold to an individual purchaser for $140 million. </span></p>
<p><span>Benchmark sales such as this add to confidence in this sector of the market as the media broadcast such notable sales nationally and even internationally. This promotion attracts the attention of potential buyers in this top end prestige sector and the limited supply of such units can help spur continued strong sales. </span></p>
<p><span>"We expect this to be the driver of high-end sales </span>in the new development areas in inner Sydney throughout 2020," the valuation firm said. </p>
</div>
<div class="column">
<p><span>"The eastern suburbs prestige market roared into gear in the second half of 2019 after a subdued first half of the year," the valuation firm continued. </span></p>
<p><span>Over 20 trophy homes, with asking prices above $15 million, are currently listed for sale across the prestige suburbs of Point Piper, Vaucluse, Bellevue Hill, Darling Point and Elizabeth Bay.</span></p>
<p><span> On top of this, there is an increasing number of prestige property owners who utilise the expertise and contacts of well-regarded local agents working within this space to sell their properties off market. </span></p>
<p><span>"We are expecting the strong finish to last year to continue in 2020," the valuation firm stated. </span></p>
<p><span>"In the south, the record of $10.86 million for the Sutherland and St George region, set by a property in Kangaroo Point in 2018, is under threat," the valuation firm said. </span></p>
<p>A large three-storey waterfront home on over 3000 square metres of land at <a href="https://www.realestate.com.au/property-house-nsw-blakehurst-132201354" target="_blank">4 Townson Street, Blakehurst </a>(pictured below) boasts six bedrooms, eight bathrooms, a tennis court, indoor and outdoor pools, slipway, jetty and garaging for up to 15 cars.</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/blakehurst.jpg" alt=""></p>
<p><span> The property was listed in October through Black Diamondz Property.</span></p>
</div>
</div>
</div>
</div>
<p><span> </span></p>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Sydney prestige market to see high buyer confidence in 2020: HTW residential 

<html><body><div class="page" title="Page 11">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The real estate market of the Central Coast Region of New South Wales enjoyed a good year in 2019 and we don’t expect much changing for year 2020, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked their </span>valuers to give an educated outlook on the residential market in their service areas in February. </p>
<p><span>"Of course there are many factors that may change this. The most obvious factor likely to affect the market is the bushfire disaster seen across the state. </span></p>
<p><span>"The Central Coast region has been affected by this, but to a much lower level than other regions. This means we can’t see a direct and significant effect on values and demand in the region," the valuation firm said. </span></p>
<p><span>It remains to be seen this early in the year what operational changes, if any, lenders and insurers will implement as a result of the bushfires, but if changes occur within their respective spaces, there will be an indirect effect on the market.</span></p>
<p><span>"There is of course, a similar scenario in many parts of the state, and the Central Coast region sits between two markets that have been particularly affected, the Sydney and Newcastle markets," the valuation firm commented. </span></p>
<p><span>Historically, the periods following significant events such as the devastating bushfires usually cause some disruption to the market and to a degree we do see this playing out in a period of consolidation - nothing new here.</span></p>
<p><span>"In Central Coast terms, the market is more likely to experience short term effects by excessive rainfall and flooding as we have seen in the past and if weather predictions prove correct, the region will have a lot of rain soon," the valuation firm added. </span></p>
</div>
<div class="column">
<p><span>There weren’t any really identifiable standouts across the various market segments in 2019 and this is expected to be the case in 2020. </span></p>
<p><span>"We saw the completion of several residential unit complexes in 2019. </span>Almost all of the individual units within these complexes were sold off the plan from as far back as 2016.</p>
<p>"As completion drew close and developers starting calling for settlements, we were instructed to provide current valuations for mortgage purposes," the valuation firm said. </p>
<p>In most cases, the values held with some increasing and on the odd occasion, a fall in value was noted.</p>
<p>Construction of new residential unit developments waned during the latter part of 2019 and there remains only a few developments still under construction, meaning that the heat of this market segment has eased and this should provide an opportunity for the consolidation of values in both new and older units, the latter of which did suffer slightly due to the preference for new stock.</p>
<p><span>The report notes general housing showed little of the effects of market disruptors seen in other regions during 2019 and from our perspective, it was pretty much a case of the market for established dwellings being steady throughout the year. </span></p>
<p><span>"We don’t see much changing in 2020 for this segment and no locations showing signs of emerging as the place to be," the valuation firm stated. </span></p>
<p><span>"Last year we offered that the peninsula suburbs of Woy Woy, Umina Beach and Ettalong Beach would see a reduction in values on the back of several extraordinarily strong years of growth. </span></p>
<p><span>"We couldn’t see the rise in values being sustained for long and to a degree, this occurred with some real estate agents referring to 2016 values as the new norm for this part of the region. </span>Once again, we would suggest caution and well founded research when buying in these suburbs," the valuation firm said. </p>
<div class="page" title="Page 12">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"If pushed to suggest an emerging market, then we suggest a look at the new estates around Berkeley Vale," the valuation firm noted. </span></p>
<p><span>The land is considered good quality and well priced. As new dwellings are established here, the values both within the estate and adjacent should benefit. </span></p>
<p><span>Considerable new home building activity remains a staple for the newer suburbs towards the northern end of the region. This includes the suburbs of Hamlyn Terrace and Wadalba. </span></p>
<p><span>Both suburbs provide well priced land with services close by and handy access to the M1 Motorway.</span></p>
<p><span>A 7 bedroom dual occupancy house in Hamlyn Terrace has recently been sold for $790,000.</span></p>
<p>The large house with a self-contained granny flat is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamlyn+terrace-131806894" target="_blank">37 Georgia Drive</a> (pictured below).</p>
<p><span>It features multiple living and entertaining spaces, covered patio, swimming pool and side access for </span>boat/caravan.</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/hamlyn%20terrace.jpg" alt=""></p>
<p>A current listing is a Wadalda four bedroom house priced between $520,000 to $570,000.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-nsw-wadalba-132755342" target="_blank">13 Terka Street</a> (pictured below), the house comprises open living and dining spaces, three bedrooms, fourth bedroom or study and outdoor entertaining area. </p>
<p>The house is situated minutes to schools, shops, sporting grounds and hospital. </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/wadalba.jpg" alt=""></p>
<p><span>"We see a resilience to market pressures in these areas due to the relatively solid levels of affordability," the valuation firm suggested. </span></p>
<p><span>"At an operational level, our interaction with lenders and mortgage brokers increased during 2019. </span>This follows an extended period of limited interaction with the placement of intermediary parties being the link between lenders and service providers." </p>
<p>While that link correctly remains present, direct discussion has proven just as successful as lenders seek a more detailed understanding of what’s happening in their local markets to assist in paving their way forward.</p>
<p><span>As with the last year, there is a reasonably good level of market confidence present, with indications that this confidence will wane slightly in some segments as the year progresses. </span></p>
<p><span>"If previous cycles repeat themselves, we can expect to see a period of reduced buy and sell activity," the valuation firm said. </span></p>
<p><span> Obvious determinants of this will include the cost of financing, stock availability and of course, the presence or absence of buyers and sellers. </span></p>
<p><span>Less obvious at this early stage but perhaps more influencing will be effects of natural disasters and as always, the role of the media.</span></p>
<p><span>"Also as with 2019, we see 2020 proving to be </span>an interesting one for local real estate following the market peaking in most segments.</p>
<p>"We say interesting because the traditionally reliable and predictive market indicators have or are likely to be different to those seen in previous, fairly predictive cycles. The activity and rises seen until very recently occurred over an extended and sustained period as opposed to previous cycles." </p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Central Coast property values expected to remain steady in 2020: HTW residential 

<html><body>
<p>At the beginning of 2019, Herron Todd White (HTW) forecast that the wider Sydney market would continue to weaken up until the state and federal elections, with a plateau post-election if other economic indicators remained the same.</p>
<p>In their December report, the property valuation firm found their predictions were accurate regarding the elections being a line in the sand.</p>
<p>What they didn’t predict however was the outcome of the federal election, which meant the well publicised changes to negative gearing and capital gains tax didn’t eventuate.</p>
<p>"It is likely that the market had already factored in these taxation changes, which meant that the election result kick started a more positive sentiment," HTW said.</p>
<p>"Agents anecdotally reported to us that within weeks of the election, their phones were once again ringing hot with renewed interest from both vendors and purchasers.</p>
<p>"Since then, an easing of APRA policy for residential mortgage lending along with three interest rates cuts has prompted a surge in activity in the first home buyer and upgrader markets."</p>
<p>HTW advised this has resulted in a much quicker than anticipated rebound in values in a number of areas, particularly those that experienced larger declines during the downturn.</p>
<p>"Given the above, we have marked ourselves a seven out of ten in regard to our start of year predictions."</p>
<p>The market recovery appears to be in full swing with CoreLogic reporting 5.71% growth in the most recent quarter across the Sydney metro area.</p>
<p>"However, it is important to note that year-on-year, RP Data is still recording a 1.58% loss to the median value," the report noted.</p>
<p>Interestingly, on a year-on-year basis (across the Sydney metro area) units are outperforming houses at +1.29% and -2.45% respectively.</p>
<p>The new unit market is probably seeing more of a mixed recovery with pockets of oversupply along New South Wales with well publicised issues around significant building defects and flammable cladding concerns.</p>
<p>The report noted it is almost 12 months since the Opal Tower was evacuated due to significant building issues.</p>
<p>Since then a number of other unit complexes, including Mascot Towers, have been identified as having significant building issues.</p>
<p>In addition to the building defects, approximately 444 complexes have been identified as having non-compliant cladding.</p>
<p>Settlement valuations were still a concern for a number of new unit complexes with values coming in lower than the off the plan prices agreed upon in a stronger market.</p>
<p>"Many of the units we were valuing in 2019 were purchased off the plan at around the peak of the market," the HTW valuers noted.</p>
</body></html>

Htw

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Htw