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


Joel Robinson

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

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


Lowe Living unveils Middle Park apartment development

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


DVB Projects to launch second Broadbeach apartment tower as demolition commences

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


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

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


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

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

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<p><span>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>

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<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>
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j.ballantyne1990-6AQqhLzZaK

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

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

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<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>
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<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>
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<div class="column">Most of these developments have been high density and located in the northern grid of the CBD.</div>
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<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>
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<div class="column">A two bedroom apartment in Melbourne CBD has been listed for rent with a price guide of $700 per week.</div>
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<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>
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<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>
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<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>
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Demand for Melbourne CBD apartments to remain steady in 2020: HTW residential 

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

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<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>
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<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>
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<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>
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<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>
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<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>
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Inner Sydney market continues to recover in 2020: HTW residential 

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

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

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

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

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<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>
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