<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.

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.

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>.

<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" />

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.

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.

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.”

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.

“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.”

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”.

“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.”

<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" />

&nbsp;

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.

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.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

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.

<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">
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.
</section>

Joel Robinson

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

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;

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.

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.

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.

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.

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.

<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" />

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.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

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.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

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.

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.

“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.

“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;

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.

“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.

“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.”

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

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

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.

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.

“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.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“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.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

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.

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.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

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.

The developer is also exploring the potential for additional affordable housing outcomes.

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.

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.

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.

&nbsp;

&nbsp;

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.

“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.”

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.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

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.

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

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.

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.

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.

<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" />

“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.

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.”

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.

<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" />

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.

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.

“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.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

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.

<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" />

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.

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.

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

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.

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.

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.

<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" />

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.

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.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

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.

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.

<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" />

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.

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.

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

<html><body>
Three locations have climbed to the peak of the market cycle for units, according to property valuation firm Herron Todd White (HTW).
The valuation firm's national property clock for August finds unit markets in Albury, Sunshine Coast, and Wodonga are now at the peak of the market, joining Bathurst which has sat at the peak for the last two months.
It's been a quick rise for Albury and the Sunshine Coast.
In back to back months they've climbed quickly through the cycle, from rising market in June to approaching the peak of the market in July.
<a href="https://www.propertyobserver.com.au/images/2019/8/5/unit%20clock.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/5/unit%20clock.jpg" alt="">
Tamworth joined Hobart at the approaching peak of the unit market. 
Apartments in the South West of Western Australia were not as far through their declining cycle as HTW had previously suggested.
They moved from approaching the bottom of the market to in a declining market, suggesting there is still some way to go in the decline.
<img src="https://www.urban.com.au/images/2019/8/16/Tamworth%201.JPG" alt="">
One example of a unit listed in Tamworth is 1/33 Murray Street (pictured above).
The two bedroom one bathroom unit is listed for $225,000 more than 10% higher than the median price for a unit in Tamworth, $194,811.
<img src="https://www.urban.com.au/images/2019/8/16/Tamworth%202.JPG" alt="">
Another example of a unit exceeding the median sale price in Tamworth is Lot 41/337 Armidale Road (pictured above).
The three bedroom, two bathroom apartment sold for $273,000 in March 2019.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Tamworth unit market starts to approach the peak: HTW Clock 

<html><body>
The residential market in Perth has tracked closely in line with Herron Todd White (HTW) February predictions for the year (so far), according to a recent HTW residential report. 
"Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes.
"Thankfully, the wider Perth area has seen some stability in its median price," the valuation firm said. 
The report notes that the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
REIWA data shows that there were 6,636 properties sold in the March quarter, proving Perth’s state of subdued activity.
REIWA reports that “although overall sales are down, 10% of suburbs experienced stable or increased volumes”.
"This is a positive sign as there are improvements in some sub markets, and it shows the differences between Perth’s inner and outer suburbs," the valuation firm notes. 
Figure 1 shows the distribution of wider Perth area house sales by price bracket.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%201.jpg" alt="">
In the December 2018 quarter, 64% of homes sold below $600,000.
This figure jumped to 70% in the recent March quarter, indicating that affordability is continually improving, but it is also a symptom of a decline in prestige activity.
President of REIWA Damian Collins states that this affordability “presents excellent opportunities for first home buyers, trade-up buyers, downsizers and investors to secure a good deal”.
Listings have increased 6% since the December 2018 quarter to 16,957 which isn’t helping selling periods. It took an average of 78 days for vendors to sell their properties last quarter.
This is a significant jump from the 68 days to sell in the December 2018 quarter. It can be attributed to new land releases as well as a softening in demand across the board.
Collins recently said “it’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations”.
"This is key to avoid the extended selling periods that we have been seeing far too often.
"Our valuers are seeing frequent evidence of properties becoming stale in the market place due to the initial asking price being out of kilter with the market and the eventual sale price of these properties is often below what market evidence suggests they should achieve,."
The rental sphere was once again increasingly active in the March 2019 quarter, favouring investors and shortening the Perth vacancy rate to 2.5%.
The median rental price remained stable at $350 per week for a ninth consecutive quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs increased over the past year.
"If the rental market continues in this direction we should inevitably see an increase in Perth’s median rent over the coming seasons," the valuation firm said. 
In terms of activity, 14,003 properties were leased during the March 2019 quarter, almost 9% more than the December 2018 quarter.
There were 6,738 properties listed for rent at the end of the March quarter 2019, which was 2% lower than the December quarter figure and 25% lower than the same time last year, showing that competition amongst tenants is ramping up.
It took two days less to find a tenant during the March quarter, decreasing to 42 days.
This figure has crept downwards since the peak of 57 days in June 2017 and shows that tenants need to be decisive and act fast to secure their preferred property.
The suburbs that recorded the best and worst median price growth over the March 2019 quarter are in Figure 2.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%202.jpg" alt="">
A North Lake resort style house at<a href="https://www.realestate.com.au/sold/property-house-wa-north+lake-129943614" target="_blank"> 3 Cheshunt Garden</a> (pictured below) has been recently sold for $820,000.
It was last traded for $581,000 in 2005. 
Set on 662 square metres, the house<a href="https://www.realestate.com.au/sold/property-house-wa-north+lake-129943614" target="_blank"> </a>comprises four bedrooms, three separate livings, swimming pool and large garden sheds. 
<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/2019/8/20/north%20lake.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%203.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%203.jpg" alt="">
Note that both Burswood and South Guildford are benefiting from the sale of properties in new developments.
The Peninsula development by Mirvac would be significantly affecting Burswood’s median as some of the properties are selling for over $1.7 million.
The report notes that a few lifestyle living areas have been active over the past six months including Mundaring, Glen Forrest, and Serpentine. Suburban North Lake has tracked well, jumping 8.5% quarter-on-quarter.
This was surprising to see as North Lake’s surroundings have been disrupted lately by the development of the Murdoch Drive Connection – adding extensions from the Kwinana Freeway and Roe Highway to the Murdoch Activity Centre and Health Precinct.
Peppermint Grove has surged over the past quarter taking its median house price from $3.45 million up to $4,025,000.
There has been a fair amount of activity in this region which is nice to see, as the prestige market (previously helping to stabilise the Perth median) faltered over the March 2019 quarter, showing signs of volatility.
Cottesloe, Swanbourne, Mosman Park, North Fremantle, Attadale, Bicton and Dalkeith all experienced decreases in their annual median house prices.
A three bedroom modern house at <a href="https://www.realestate.com.au/sold/property-house-wa-cottesloe-131272570" target="_blank">281 Marmion Street, Cottesloe</a> has recently been sold for $2.2 million (pictured below).
It was last sold at $2.328 million in 2016. 
It comes with three bedrooms, appointed open kitchen, living area, salt water pool and landscaped gardens.
It's within easy walking distance to parkland and shopping centre. 
<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/2019/8/20/cottesloe.jpg" alt="">
This is understandable however, as the March quarter usually experiences an increase in listings.
On top of this, consumer confidence has been low; the fallout from the Banking Royal Commission has created a challenging financial market, and with the distraction of a federal election, homeowners and investors would be hesitant to make any big moves.
"There has been a lot of media coverage around the declining Australian property market (mainly surrounding Sydney and Melbourne) and this isn’t helping confidence in the Western Australian market even though our property market is in a different stage of the cycle to the eastern states," the report stated. 
All of this has forced sales volumes to drop, selling periods to extend and top-end prices have fallen as a result.
"In the upgrader market, our valuers are still seeing a fair amount of activity, however home buyers are generally seeking to purchase at a discounted rate.
"This is pushing out selling periods and it seems that prices may continue to soften as a result, further improving affordability," the valuation firm said. 
Perth’s fringe is still being suffocated by chronic oversupply.
Baldivis is continuing its decline due to consistent land releases putting downward pressure on established dwelling sale prices.
As an example, a property on Avoca Chase had a summated cost of $285,000 in April 2018, being one of the cheapest we had seen at the time.
It was sold in March 2019 on completion for $225,000, declining 21% throughout its construction period.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-baldivis-130883546" target="_blank">20 Jitarning Brace</a>, Baldvis has been recently sold for $300,000 (pictured below). 
In 2011, it was traded for $430,000.
The house comprises of four bedrooms, separate theatre, large family and kitchen area and double garage. 
<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/2019/8/20/baldivis%20.jpg" alt="">
"This sales figure is actually considered to be fairly cheap, however it’s part of the unfortunate truth in the current market," the report said.
"Properties in oversupplied regions need to be priced very keenly in order to achieve a quick selling period and avoid them going stale on the market, so listen to the advice of agents about what is realistic and appropriate.
"Developing suburbs in the south-east are in a similar situation. Whitby and Byford have softened over the past six months and it is expected that these areas will stay flat for the remainder of 2019.
"Our predictions for the rest of the year are fairly simple for Perth’s outer regions.
"We expect to see no rebound in 2019 and assume that medians in these areas will continue their slow descent to wherever the median price floor holds, but we expect the overall median house price to remain relatively steady for the wider Perth area as upgraders take advantage of the buying opportunities that are available in many sought after areas." 
</body></html>

Wider Perth area sees stable median price: HTW residential 

<html><body>
The ACT housing market has not changed much over the past six months, according to a recent Herron Todd White (HTW) residential report. 
The report suggests that the value of houses and land has likely seen little growth, owing to an overall lower demand for property arising from various external factors such as the difficulty in obtaining finance.
"Demand is still reasonably strong for entry level houses in the $450,000 to $600,000 range and we would consider this property type to be performing the best," the valuation firm said. 
A recent sale in this price range was a three bedroom house (pictured below) situated within walking distance to the CBD. 
The house at <a href="https://www.realestate.com.au/sold/property-house-nsw-queanbeyan-131628918" target="_blank">5 Hambly Place, Queanbeyan</a> has been sold for $475,000.
It comprises three bedrooms updated kitchen, separate dining and single lock up garage. 
<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/2019/8/20/queanbeayn.jpg" alt="">
Demand has remained steady for the mid-point priced houses in the $600,000 to $1 million range.
The prestige market ($2 million plus) remains steady. Prestige dwellings are changing hands, but not at an extraordinary rate.
The supply of units remains high and demand remains steady.
Unit and apartment values have retracted or remained steady over the past six months due to the quantity being offered to the market, especially in the outer suburban areas where demand is generally lower.
"Supply is highest for the one-bedroom product that is being offered at a very high rate in new complexes, while the market for two, three and four-bedroom units is more steady and secure," the valuation firm said. 
The price point for most one-bedroom units is between $275,000 and $400,000 depending on location, size and quality of inclusions.
The report notes most two-bedroom units are selling for between $300,000 and $550,000, again depending on location size and quality of inclusions.
A two-bedroom apartment located at <a href="https://www.realestate.com.au/sold/property-apartment-act-forrest-131627154" target="_blank">95/5 Empire Circuit, Forrest</a> (pictured below) has recently been sold for $530,000. 
It consists of two bedrooms with built-in robes, open plan living, kitchen and balcony. 
The apartment is within walking distance to the Manuka precinct with shopping and restaurants, Parliament House and Telopea Park.
 <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/2019/8/20/forrest.jpg" alt="">
Units with more than three bedrooms are often sold for above $550,000, with some units selling over the $1 million mark in well located, reputable complexes.
</body></html>

Canberra sees strong demand for entry level houses: HTW residential 

<html><body>
The Hobart market is starting to show signs it is approaching or has reached its current cycle price peak, according to a recent Herron Todd White (HTW) residential report. 
CoreLogic suggests that the median price actually slipped a touch in March.
"On the ground, we are seeing a flattening of prices in the inner ring, however demand for prestige remains historically firm," the valuation firm stated. 
A penthouse apartment located in the heart of Hobart CBD has recently been sold for over $1 million. 
The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-tas-hobart-131418934" target="_blank">5A/117 Collins Street </a>(pictured below) comprises master bedroom, two additional bedrooms, kitchen and open plan living.
<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/2019/8/20/hobart.jpg" alt="">
It's just minutes to Salamanca and the Wharf. 
"In the middle to outer ring however we continue to see positive pricing and competition for housing. This is true for the 50-kilometre commuter radius," the valuation firm added. 
A three-bedroom house at Primrose Sands (pictured below) has been recently sold for $252,000.
Situated about 150 metres from the beach, the house at <a href="https://www.realestate.com.au/sold/property-house-tas-primrose+sands-131682878" target="_blank">8 Esplanade</a> comes with three bedrooms, open plan living, dining and kitchen, and single lockup garage. 
It has been offered for the first time since 2003.
<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/2019/8/20/primrose%20sands.jpg" alt="">
The report notes that vacancy rates remain tight with little evidence of the housing shortage easing.
</body></html>

Hobart market reaches price peak: HTW residential 

<html><body>
In the south-east of South Australia, $500,000 will enable you to purchase a wide variety of property, according to a recent Herron Todd White (HTW) residential report. 
The report suggests that few dwellings sell for more than $500,000 each year and demand for property tends to reduce significantly within this price range given the median house price is around $265,000.
"Houses that have sold for around $500,000 within the past year include the following Mount Gambier properties. This shows that you can buy a good quality dwelling for this price," the valuation firm says. 
<ul>
<li>
<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-126845570" target="_blank">15 Redwood Avenue, Mount Gambier </a>SA 5290 (pictured above) - $518,000</li>
</ul>
A circa 2008 three-bedroom, two-bathroom, detached dwelling on 950 square metres located in a good modern residential division surrounded by quality homes.
 <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/2019/8/15/mount%20gambier%202.jpg" alt="">
<ul>
<li>
<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-127030338" target="_blank">17 Jardine Street, Mount Gambier </a>SA 5290 (pictured above) -  $500,000</li>
</ul>
A circa 1902 four-bedroom, two-bathroom, renovated character dwelling on 1,050 square metres, centrally located and surrounded by quality homes.
Below is a typical rural living property situated on the outskirts of Mount Gambier.
<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/2019/8/15/mount%20gambier%203%20.jpg" alt=""> 
<ul>
<li>
<a href="https://www.realestate.com.au/sold/property-house-sa-worrolong-128437902" target="_blank">47 Eldridge Drive, Worrolong </a>SA 5291 (pictured above) - $505,000</li>
</ul>
A circa 2011 four bedroom, two bathroom dwelling on 3,201 square metres located on the edge of Mount Gambier with good quality properties surrounding, situated on country living allotments.
"The best performing properties around the $500,000 range are generally large modern dwellings situated in modern residential divisions, properties located on the outskirts of town on rural living size allotments and renovated character dwellings that are centrally located, such as the sales above," the valuation firm commented.
These properties could achieve a rental return of between 4-4.5%, however most of these properties are owner-occupied.
"Within Mount Gambier we do not generally see any units or attached housing selling for $500,000 or above," HTW said. 
The median sale price for Mount Gambier for May 2019 is $265,000, therefore all of the above properties are considered to be at the top end of the market.
"The market has remained relatively stable over the past 12 months with similar market conditions to last year.
"For $500,000 you can purchase a similar property this year to what you could last year." 
</body></html>

Few dwellings sell for over $500,000 in Mount Gambier: HTW residential 

<html><body>
The sub $500,000 price point in the wider Sydney metropolitan has been an ever-diminishing market, according to the latest Herron Todd White (HTW) residential report.
But there is now more opportunity, the valuation firm said. 
It took a look at the various options across the land for investing $500,000.
The report suggests that as values decreased, the number of properties meeting this criteria reduced each year.
In the past two years however, the wider market has contracted and we now have more options in play in this market.
When buying property at this price point, purchasers will still have to sacrifice in some aspect, be it location, commute time, accommodation or the overall condition and features they desire.
"It should come as no surprise that western Sydney provides buyers with the most options in the sub-$500,000 price range, however there are still some options available in most parts of Sydney," the report said.
"Whilst these may be restricted to units, a number of these areas are now seeing the entry point for houses at well below $1 million, something that may not have been conceivable a year or two ago.
"Parramatta provides two major options for buyers with $500,000 or less to spend. You can pick up a semi-modern, one-bedroom, one-bathroom unit or an older two-bedroom, one-bathroom unit." 
A recent example is a one-bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-parramatta-130364454" target="_blank">802/138-140 Church Street, Parramatta</a> (pictured below) selling for $488,888 on level eight in the Escen development.
This is a late 2000s built development with common pool, sauna and gym and within close proximity of the CBD and rail.
<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/2019/7/25/parramatta%201.jpg" alt="">
"Further west in Penrith, you have the option of a modern two-bedroom, two-bathroom unit or an early 2000s three-bedroom townhouse for sub-$500,000," the report noted.
Given the wider market cooling over the past 12 to 18 months, detached houses in Penrith are now becoming available for sub-$500,000.
These properties are generally in fair condition with irregular blocks or located on busy roads but provide an entry point for buyers wanting a detached dwelling on circa 600 square metres blocks.
With some smart renovations, these houses could prove to be a savvy buy in the long term.
A recent example of this is a neat brick dwelling selling for $480,000 in March.
Set on 556 square metre allotment, the family house at<a href="https://www.realestate.com.au/sold/property-house-nsw-penrith-130288870" target="_blank"> 53 Glebe Place, Penrith</a> (pictured below) comprises three bedrooms, separate kitchen and living areas, and large bathroom.
Externally, the property is neat but is prime for updating internally.
It's only minutes to local schools, trains and public transport. 
<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/2019/7/24/penrith.jpg" alt="">
West Ryde is close to the geographical centre of Sydney and doesn’t usually feature in this topic, but with the downturn over the past 12 to 18 months, there are now more opportunities for investors and first home buyers with older one-bedroom units selling for early $400,000s within close proximity of the rail and shops.
Campbelltown provides the most options for the sub-$500,000 market.
"You have the option of three-bedroom detached houses on circa 700 square metre blocks, modern two and one-bedroom units, or a variety of villas and townhouses," the valuation firm suggested. 
A recent example is an older 1960s three-bedroom, one-bathroom dwelling on 691 square metres of land selling for $450,000.
The house had some minor updates throughout and would be perfect for a first home or investment.
"If you are after a modern unit, there have been some recent sales between $420,000 and $500,000 of modern built, two-bedroom, two-bathroom units," the valuation firm stated.
The sub-$500,000 price point is mostly made up of first home buyers and investors.
These participants are generally sensitive to price and interest rate movements.
A number of the major lenders recently reducing their interest rates is likely to have a positive impact on this sector of the market.
Within the new estates in western Sydney, buyers with a budget of up to $500,000 can mostly only find land.
Examples would include a rectangular shaped 350 to 500 square metre parcel in Box Hill in the north-west or Austral in the south-west.
The variance in price will depend on frontage and position within the developing suburbs.
"Given this, we have recently seen some three-bedroom, two- bathroom villas for sale at this price point in Austral and there are units proposed for Box Hill which will fall under $500,000.
"For even better value, buyers can head to North Richmond, where for $475,000 to $500,000 you can acquire a 650 to 700 square metre, rectangular shaped block."
The commute is circa 70 kilometres from the Sydney CBD, but more importantly circa 50 kilometres from both Parramatta CBD and the proposed second airport at Badgerys Creek.
</body></html>

Western Sydney provides most options in the sub $500,000 price range: HTW residential

<html><body>
Over the past six months, there has been a continuing slow decline in the south-eastern Melbourne property market, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that values have continued to drop and it is likely the market is yet to bottom.
For the inner suburbs such as Bentleigh East and Hampton, there are still a vast amount of townhouse developments popping up despite the large fall in prices over the past year.
"These higher value suburbs are often hardest hit in declining markets," the valuation firm stated. 
On the peninsula, estate agents are getting creative with their sales tactics.
The report notes that this was evident in a sale via auction on 4 May 2019 at <a href="https://www.realestate.com.au/sold/property-house-vic-dromana-130838386" target="_blank">16 Jetty Road, Dromana</a> (pictured below). 
The real estate agent employed an unusual tactic to ensure the best result.
He announced the owner’s reserve price prior to the auction, which resulted in the auction lasting only 60 seconds, with the winning bid being the $1.25 million reserve, according to source: realestate.com.au.
<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/2019/6/27/dromana%20.jpg" alt="">
The purchaser was from the eastern suburbs, suggesting a sea-change or perhaps an intention to use the property as a holiday home.
Vacant land has not fared well over the past 12 months as there is an oversupply and purchasers are struggling to obtain finance.
Many developers are offering incentives such as offering to pay building deposits.
"In contrast, the unit market has remained resilient in the outer south-east and the peninsula," the valuation firm said. 
"This is largely due to units being at the lower end of the market and appealing to investors and first home buyers."
On the peninsula, there are a few properties which are managing to buck the trend.
<a href="https://www.realestate.com.au/sold/property-house-vic-mornington-130630550" target="_blank">8 Mills Beach Close, Mornington</a> sold for $200,000 more than its 2017 purchase price and sold within two weeks of being placed on the market for $1,575,000.
The purchaser resided in Shepparton and purchased the property for a sea-change.
<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/2019/6/27/mornington%20.jpg" alt="">
A recent report named the suburbs that banks consider to be the riskiest in terms of lending (based on unsuccessful loan applications).
"The majority of high risk suburbs were located in the outer south-east being: Clyde North, Clyde, Cranbourne, Botanic Ridge, Tooradin, Blind Bight and Warneet.
"This can potentially lead to the banks selling up the properties or vendors being forced to accept a lower offer to avoid becoming bankrupt," the valuation firm said. 
</body></html>

Oversupply of vacant land on Mornington Peninsula: HTW residential 

<html><body>
Across the Clarence Valley, median prices remain strong, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that most localities are still recording median price increases across all property types, however some are beginning to show early signs of stabilising.
For instance, Grafton has shown a 6.2% rise in median house price from 2018 to 2019, while Maclean and Yamba remain steady.
"Recently, the rate of sales has slowed with some speculation surrounding the election," the report noted. 
Rural residential properties have remained popular with considerable interest being recorded, particularly those with multiple dwellings and the possibility for additional income.
Similarly, the prestige housing market has proved resilient with market leading sales being recorded in sought after positions in Yamba.
"As predicted, the significant majority of sales recorded recently remain in the $300,000 to $500,000 price point and it is likely the second half of 2019 will mirror the first two quarters," the valuation firm said. 
<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/2019/6/20/grafton%201.jpg" alt="">
A Grafton three bedroom house located just metres to the Clarence River has recently been sold for $315,000. 
The fresh painted house at <a href="https://www.realestate.com.au/sold/property-house-nsw-grafton-128285790" target="_blank">18 Oliver Street</a> (pictured above) comprises three bedrooms, tiled rumpus, timber kitchen and level garden. 
Additional features include ceiling fans and reverse cycle air conditioning.
<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/2019/6/20/maclean%20.jpg" alt="">
Another four bedroom house perched high on Maclean Hill with views of the Clarence River and hinterland has been sold for $442,500.
Set on a 1,308 square metre block, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-maclean-130342214" target="_blank">25 Clarence Street </a>(pictured above) comes with four bedrooms, media room or fifth bedroom, open plan living, and kitchen with views.
Other highlights include cupboard space throughout, double carport and large deck on both levels. 
</body></html>

Clarence Valley median price remains strong: HTW residential 

<html><body>
In terms of the best growth suburbs to invest in Melbourne, valuer John Costanzo believes there is still plenty of value to be had in Ringwood and Croydon, according to the latest Herron Todd White (HTW) residential report. 
"While the property market started 2019 on a positive note with more interest from buyers, auction clearance rates rising and banks chasing more business, another hurdle has been put in our way," the valuation firm said. 
"While the current slump in property values resembles those in 2008 during the global financial crisis, this time around, our economy is sound with interest rates at an all-time low." 
A four bedroom house positioned within a highly coveted cul-de-sac in Ringwood with views of Dandenong Ranges has recently been sold for $796,000.
Nestled on a 559 square metre allotment, the brick house at<a href="https://www.realestate.com.au/sold/property-house-vic-ringwood-129317002" target="_blank"> 4 Gibson Court</a> (pictured below) comprises master with built-children's playroom, three additional bedrooms, living and dining room with views, and sleek stone kitchen.
It has easy access to schools, shops and public transport. 
<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/2019/6/27/ringwood%20.jpg" alt="">
Another pick is Wantirna, according to the HTW report. 
"While Wantirna South’s median entered the $1 million club in 2018, its sister suburb Wantirna is inevitably next in line," the valuation firm commented. 
With a median house price of $960,600, it offers excellent transport links, schools and proximity to Westfield Knox Shopping Centre, which will undergo a long- awaited major redevelopment from November 2019.
A current listing is a three bedroom single level house priced between $880,000 to $960,000.
Situated at <a href="https://www.realestate.com.au/property-house-vic-wantirna-131232658" target="_blank">2 Fortescue Court, Wantirna</a> (pictured below), the house comes with master bedroom, two additional robed bedrooms, living and dining spaced with porcelain tiles, smart kitchen and family area. 
Additional features include ducted heating, split-system heating/cooling, salt-chlorinated in-ground pool with deck surround and double garage.
<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/2019/6/27/wantirna%20.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/27/east%20mel.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/6/27/east%20mel.jpg" alt=""> 
"Investors should start thinking about suburbs where infrastructure upgrades, particularly with links to transport, could put them at the top of the next boom.
"Buyers are still being cautious and with tighter lending conditions still in place, it’s likely the eastern Melbourne market will tread water in the latter half of 2019, although this will vary depending on local market conditions and demand. Only time will tell."
</body></html>

Ringwood, Croydon and Wantirna - best suburbs to invest in Melbourne: HTW residential 

<html><body>
Since the beginning of 2019, it was expected that the residential and rural residential market in Lismore, Casino and Kyogle would soften with reduced sales activity and weakening demand, according to the latest Herron Todd White (HTW) residental report. 
"From a general view point, this has occurred, albeit with some pockets of the market kicking this statement into touch," the valuation firm said. 
"Firstly, following on from the ravages of floodwaters inundating parts of North and South Lismore and parts of Lismore Central during April 2017, the volume of sales activity and demand came to a virtual halt, however over the past six months, we began to see some positive movement."
With the stringent banking regulations now in place, flood affected areas with an estimated habitable floor height level below the estimated one in 100 year flood event height level will experience a lot of difficulty securing mortgage finance.
Nevertheless, those dwellings with a floor height above the estimated one in 100 year flood event height level have fared better and it is not uncommon now to see prices above $300,000 for part renovated dwellings in South Lismore and North Lismore.
The report notes that modern residential estates in the suburb of Goonellabah have continued to improve over the past six months with well improved, four-bedroom, two- bathroom dwellings sometimes breaching the $600,000 mark.
An example was a single level Goonellabah house which has recently been sold for $600,000.
Nestled on an 804 square metre parcel of land, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-goonellabah-130593262" target="_blank">181 Invercauld Road </a>(pictured below) comprises four bedrooms, two bathrooms, open plan living and dining area, gourmet kitchen and outdoor entertainment. 
Located within Wyralla Road Public School catchment area, the house is only footsteps to school bus stop and close to local amenities. 
<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/2019/6/25/goonellabah.jpg" alt="">
Casino and Kyogle on the other hand have seen a general slowdown in activity with only well- presented properties that have special features garnering more interest.
Being close to the town centre and providing modern appointments help improve the overall appeal, according to the HTW report. 
"We note a recent construction of four good quality two-bedroom attached units within close proximity of the Kyogle CBD having no trouble securing tenants at the $350 per week price point," the valuation firm said. 
A two bedroom unit within walking distance to Kyogle CBD has been offered for lease with a price of $375 per week. 
The unit at <a href="https://www.realestate.com.au/property-unit-nsw-kyogle-426720686" target="_blank">1/61 Ettrick Street</a> (pictured below) comprises two bedrooms, living area, modern kitchen, and alfresco area.
Other features include air-conditioning in the main bedroom and living area, solar hot water and garage with remote controlled door. 
<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/2019/6/25/kyogle.jpg" alt="">
</body></html>

Htw

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Htw