<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.

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.

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.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

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.

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

<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" />

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.

But one of the biggest components of the proposal is what sits between the buildings.

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.

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.

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.

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.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

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.

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.

<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" />

SP Setia plans to deliver the development across three stages.

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.

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.

&nbsp;

&nbsp;

Joel Robinson

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

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.

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.

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.

<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" />

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.

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.

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.

<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" />

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.

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.

Heritage has subsequently played a significant role in Cera Stribley's design.

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.

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.

<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" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

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.

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.

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.

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.

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.

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.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<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.

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

<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" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“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;

“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."

Brown says the site itself is "exceptional."

"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.”

<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." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

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.

<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" />

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.

“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.

“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.

“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.”

<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" />

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.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<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.

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>.

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.

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.

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.

<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" />

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.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

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."

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.

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.

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.

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.

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

<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;

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.

[smartcode_project:default project_id=107520 project_image_fid=367193]

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;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"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.

"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."

[smartcode_project:default project_id=107520 project_image_fid=367183]

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;

"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;

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.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

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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The Sydney industrial property market performed strongly in 2018 and will be an even more exciting market to watch in 2019, according to a recent Herron Todd White commercial report. 
There was a notable increase in demand in Sydney’s industrial market during 2018, driven by a number of factors including a strengthening economy coupled with low interest rates. 
Demand was influenced by residential infill re-zonings in traditional industrial precincts close to the Sydney CBD, airport and ports, prompting a flight from inner city areas to more outlying precincts and a chase for yields and capital growth. 
Examples of this include the Alexandria and Mascot areas and the Lower North Shore where land is being rezoned and traditional industrial users need to look further afield for good quality premises.
An Alexandria high functional freestanding commericial facility has been listed for lease with a price of $290 to $525 per sqm.
Located at<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-alexandria-503125458" target="_blank"> 29-31 O'Riordan Street</a> (pictured above), the property features flexible configurations up to 5,000sqm, ample car parking and extensive frontage. 
"Despite the declining residential market and the slowing of the residential development sector, we anticipate that some of these factors will continue to drive demand for industrial space, particularly in the first half of 2019. Many tenants and owner-occupiers alike are experiencing difficulty finding well located, good quality industrial space, a trend we expect to continue this year.
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"In particular, we expect that demand levels will remain reasonably strong in well-located industrial precincts with good connectivity to major transport routes and ease of access to regional business centres including Liverpool, Campbelltown, Parramatta, Blacktown and Penrith. Such precincts include Wetherill Park, Silverwater and Seven Hills.
"In 2019, we expect yield compression to stabilise and display a more subdued rate than was evident in 2018. Industrial properties are currently sold subject to relatively low yield rates, currently generally sitting between four and seven per cent. We consider that these low yields will continue for much of 2019," states the valuation firm. 
The report notes average prime grade industrial rents in Sydney remained somewhat subdued in 2017 and to an extent in 2018, when increases only seemed to appear in the later part of the year. 
"However, with the increased demand for industrial facilities and a lack of stock, we anticipate rents to grow in 2019, particularly in well located precincts that offer ease of access, transport or proximity to the CBD and ports," says the valuation firm. 
A continued lack of land supply will see premiums paid for vacant land and under-improved sites.
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"We continue to follow with anticipation the progress of the Western Sydney Airport. To date, staging works, some roads and clearing has been done. Further work is currently underway. 
"We watch this area keenly as we consider it will have a real impact on the local industrial market, especially as we get closer to the completion of the site and even now, as more and more businesses look to firm up their strategic positions for the future.
"We consider that 2019 will still see some opportunities in the market. The lower end of the market, particularly well located strata units, still present some good opportunities for both rental return and capital growth in the long term. At the other end, investors with a bigger budget will benefit from the increasing rental returns," says the valuation firm.
A high exposure corner site near Western Sydney Airport has been listed for lease with a price of $2,000 per week.
The corner site at<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-badgerys+creek-503082414" target="_blank"> 10 Martin Road, Badgerys Creek</a> (pictued below) includes 3 bedroom house and 130sqm shed/garage.
It's close to all the Western Sydney aerotropolis infrastructure construction. 
<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/2019/5/7/badgerys%20creek.jpg" alt="">
The industrial market in Sydney started off on a strong note in the first quarter of 2019, particularly in the sub $10 million price bracket. The most notable larger sale (missing 2019 by one day) occurred on 31 December 2018 in South Granville. The sale represented an increase in value from around $16 million in 2014 to $24 million in 2018.
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j.ballantyne1990-6AQqhLzZaK

Sydney industrial property market continues strong performance: HTW

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Despite initial fears, prices haven’t taken a huge tumble within the Newcastle and Hunter Region, according to the latest Herron Todd White (HTW) residential report. 
The report notes that the Newcastle property market hasn’t seen the huge falls in prices some capital cities have.
"Typically, the property market works in cycles and via our Herron Todd White property clock, we have indicated that our region is now in decline, but this is off the back of solid increases in property prices throughout the past few years," the valuation firm said. 
"This type of growth cannot be economically sustained and thus the real estate market can be seen as correcting itself.
"We have also noted that many buyers in our local area are finding themselves with more choice and much less pressure to make an offer. There are no longer three people in line ready to make an offer on the same property.
"You will find the well-priced and quality properties in preferable locations are still selling well despite all the talk of declining prices.
"These quality properties become the standout in these conditions and the gap widens between primary and secondary properties.
"We’ve also identified that suburbs which were previously out of the budget of buyers are now becoming more attainable."
Previously some buyers who were looking at outer suburbs such as Highfields and Kahibah can now expand their search areas without expanding their price bracket much to include suburbs closer to town such as Adamstown, Kotara and some areas of New Lambton.
The typical blue-collar suburbs including Merewether, Cooks Hill and Bar Beach are just as popular as ever, but prices are softening in these suburbs.
The more affordable first home buyer suburbs such as Mayfield, Hamilton North, Waratah and some properties in Tighes Hill are also softening, but here the quality properties are constantly selling quicker than others on the market.
"Interestingly, there are still many record-breaking sales happening across Newcastle," the report noted.
It referred to a recent sale in Adamstown Heights.
Renovated with the help of a local architectural firm, this large family home (pictured below) sold for $2.15 million in March 2019.
The property at<a href="https://www.realestate.com.au/sold/property-house-nsw-adamstown+heights-130488002" target="_blank"> 3 Ragan Close</a> has five bedrooms, three bathrooms and two car spaces with a large backyard and swimming pool.
<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/adamstown%20heights.jpg" alt="">
There has been another sale of a renovated Federation home in the much sought after suburb of Hamilton South.
The auction sale has become the suburb’s second highest recorded sale at $2.25 million.
The agents originally stated a price guide of $2 million to $2.2 million.
The property at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamilton+south-130934446" target="_blank">72 Gordon Avenue </a>(pictured below) is well-known in the area for its restored Federation features and large corner block location.
It comes with four bedrooms, three bathrooms, two car spaces and a large swimming pool and outdoor entertaining area.
<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/hamilton%20south%201.jpg" alt="">
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Newcastle residential market in decline, but losses limited: HTW

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The Southern Highlands region has been exhibiting a weakening trend across the residential market, albeit with a feeling that the market is now stabilising, according to the latest Herron Todd White (HTW) report. 
The report notes that prices in the main townships of Bowral, Mittagong and Moss Vale appear to have been more resilient than some of the perimeter locations.
Properties above the $1.5 million mark are experiencing longer selling periods than more recent times due to a combination of decreased buyer demand and vendors yet to adjust to the current market.
It is a tale of two markets in some locations, with Burradoo holding up well overall during the downturn.
"Properties are still fetching good money and continuing to appeal to the Sydney buyers with relatively quick selling periods when priced correctly," the valuation firm said. 
"That being said, some properties in the $2-million-plus market have demonstrated volatility in the last 12 months."
An example of this sensitivity is an architect designed new executive style residence on the western side of Moss Vale Road which recently sold for $2 million after initially being listed for $2.5 million In July 2018 with two separate agencies.
Another example was a two-level designer home at <a href="https://www.realestate.com.au/sold/property-house-nsw-burradoo-130269186" target="_blank">2 Greyleaves Avenue, Burraddo</a> (pictured below) which has been sold for $245,000. 
Set on a 4,001 square metre block, it comprises four bedrooms, reception area, formal and informal living areas, kitchen and teenage retreat or cinema room.
Other features include in-ground pool, sun lounge area, and four car 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/2019/6/25/burradoo%201.jpg" alt="">
Mittagong’s market activity has definitely showed signs of weakening in the tougher period with the number of recorded sales down approximately 35% on the median of the last three years as per PriceFinder, with the peak selling period being April to May.
A four bedroom Mittagong family house has recently been sold for $825,000.
Set on a 2,000 square metre corner position, the house at<a href="https://www.realestate.com.au/property/77-79-joadja-st-welby-nsw-2575?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank"> 77-79 Joadja Street, Welby </a>(pictured below) comes with four bedrooms, open plan entertaining dining, covered alfresco entertaining, and freestanding shed with fully equipped kitchen. 
The property was sold at $830,000 three years ago. 
<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/welby%201.jpg" alt="">
According to the HTW report, Braemar as a fringe location has also felt the effects of the downturn with prices falling approximately five to 10% over the last six months.
"We are also observing market adjustments and the definition of market value, willing buyer, willing seller coming into play, with a few unrealistic vendors coming to terms with the current market conditions," the valuation firm noted. 
An example of this is a circa 2017 dwelling within the Nattai Ponds Estate recently sold for $640,000 after initially being listed between $770,000 and $750,000 in October 2018.
"The vacant land market is still in oversupply for the major subdivisions across the three major townships with vendors forced to drop their prices in order to be competitive with other listings or an extended selling period is to be expected." 
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Southern Highlands market is stabilising: HTW residential

<html><body>
The eastern suburbs peaked a little later than the general Sydney market, according to the latest Herron Todd White (HTW) residential report. 
However declines have now caught up with the greater Sydney market, with an 11% fall in the 12 months to April, according to Corelogic.
"At the lower end of the housing market, a recent sale in Botany of a 1900s, three-bedroom, one- bathroom semi-detached dwelling for $900,000 was more than 30% lower than when it sold for $1.3 million in August 2017," the valuation firm said.
The median house price in Botany was down 3.5% in the March quarter to $1.45 million, while the median unit price was down 2.4% over this time to $810,000, according to realestate.com.au data.
The report noted that the eastern suburbs prestige residential market was more resilient than the wider market in 2018, although there are definite signs that market has peaked as well.
The prestige suburb of Rose Bay experienced a 3.4% decline in its median house price in the March quarter to $3,646,500.
 <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/2019/6/19/rose%20bay%202.jpg" alt="">
Units fell even quicker with the median price down to $1,155,000, a drop of 7.6% over the quarter, realestate.com.au data says. 
A 124 square metre apartment in Rose Bay with double lock up garage was sold for $1.56 million in April. 
Set within a small block of four, the top floor apartment at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-rose+bay-130823222" target="_blank"> 4/1 Hamilton Street </a>(pictured above) comprises light-filled living/dining flowing to balcony, Smeg gas kitchen, three bedrooms with built-in and rear communal garden.
The location is just a short walk to Rose Bay village shops. 
"This doesn’t appear to be uniform across all suburbs though, with Bellevue Hill (0.8%) and Vaucluse (7.2%) showing increases in their median house prices during the March quarter," the valuation firm said. 
Despite this, activity in these suburbs has definitely eased with only 13 sales above $5 million in Bellevue Hill as at mid-May compared to 64 for all of 2018.
Vaucluse has had 10 sales compared to 65 for all of 2018, according to PriceFinder.
<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/2019/6/19/vaucluse%20.jpg" alt="">
A pet friendly two bedroom unit set at the rear of a secure boutique block in Vaucluse has recently been sold for $1.1 million.
The unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-vaucluse-131163922" target="_blank">3/8 Burge Street</a> (pictured above) comprises two bedrooms, open plan living/dining, CaesarStone kitchen, and balcony.
It's just moments to village cafes, local shops, parklands and beaches. 
"With some economic concerns both at home and abroad, the prestige market may be a little more volatile as we head into the second half of the year," the valuation firm said.
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Eastern suburbs caught up in the greater Sydney market decline: HTW residential

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Market activity has generally been subdued within inner Sydney over the past six months, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that prices have continued to decline in all but the bluest of blue chip areas.
"Within the CBD itself, unit prices have been declining since 2017, largely due to continued supply and decreasing investor demand," the valuation firm said. 
Realestate.com.au shows a decline in the median unit sale price for the suburb of Sydney from $950,000 in January 2019 to $925,000 in March 2019, after a peak of $1.1 million in 2017.
The perennially oversupplied Green Square area of Sydney (covering parts of Zetland, Alexandria and Waterloo) has also fared badly.
Its median prices fell from $900,000 in January 2019 to $875,000 in March 2019 alone, after a 2017 peak of $955,000, according to realestate.com.au. 
Furthermore the strong supply pipeline is set to continue throughout the next 18 months, with multiple new developments due for settlement, all at a time when investor demand is decreasing.
Median house prices have also been decreasing since the start of the year with inner suburbs on the western side of the CBD such as Forest Lodge.
Its median house price declined from a median of $1.5 million in January 2019 to $1.39 million at the end of the first quarter of 2019.
Realestate.com.au indicates that the median price there peaked at $1.78 million in 2017.
On the eastern side of the CBD, the diminutions have been less severe, with Paddington decreasing from an overall market cycle peak of $2.34 million at the start of 2019 to $2.27 million in March 2019 according to realestate.com.au.
"The inner city has a multitude of property types and price points," the valuation firm said.
"The price point seeing the most value retention in the current market appears to be affordable one and two-bedroom units within suburbs along the city’s eastern fringe, particularly those more suited to owner-occupiers – those in well finished buildings, boutique or well- regarded complexes, with views and parking being particularly sought after.
According to realestate.com.au, units in Potts Point have remained generally stable in price since the start of 2019, with medians of $785,000 in January 2019 and $778,000 in March 2019.
"There have been some weaker results for two bedroom units in trendy Surry Hills." 
<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/2019/6/19/surry%20hills%201%20.jpg" alt="">
For example 507/437 Bourke Street (pictured above), a two-bedroom warehouse conversion sold for $1.6 million in April 2019 after being purchased for $1,655,000 in April 2016.
<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/2019/6/19/surry%20hills%202.jpg" alt="">
Furthermore, 36/45-49 Holt Street (pictured above), a semi-modern two-bedroom unit within 500 metres walk of Central Station sold for $1,002,000 in March 2019, previously selling for $1.1 million in June 2016.
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Inner Sydney median prices continue to decline: HTW residential

<html><body>
The Lower North Shore, often a unique market, can fluctuate either way in a hurry, according to the latest Herron Todd White (HTW) residential report. 
The report noted that last year, as the general property market started to weaken, this region was quite resilient and still saw some very positive results.
"This was especially true in the prestige section of the market with higher value properties outperforming the rest of the market and with a record number of sales," the valuation firm said. 
"Now almost half way through 2019, we take stock of which direction this market is headed.
"The affluent suburb of Mosman, the most well known suburb on the lower north shore, is often the best indicator of where the market currently stands."
The most recent statistical data sourced from realestate.com.au, indicates a median house price for April 2019 of $3,782,500.
A recent sale in Mosman was a renovated full brick Federation house (pictured above).
The three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-131171338" target="_blank">41 Countess Street </a>was sold for $3.35 million. 
It comprises master bedroom, two additional bedrooms, media or fourth bedroom, open plan living/dining space, kitchen with breakfast bar, and covered alfresco area. 
It's close to Countess Park, city buses, shops, schools and restaurants. 
"Comparing this price to the median from December 2018, indicated at $3.9 million, we see an obvious weakening trend," the valuation firm commented. 
It would appear that this time around, Mosman is following the trend of the general market cycle, according to the HTW report. 
The prestige sector of Mosman, having experienced a booming few years, also seems to have significantly quietened.
Researching the number of transactions that have occurred over $5 million in Mosman so far in 2019, it appears that there have only been three such transactions in the suburb and none over $10 million, according to CoreLogic data.
"This is in contrast to 2018 where we saw a total of 85 sales over $5 million for the year, 34 of those between January and May," the valuation firm said.
"Local selling agents have indicated that there has certainly been a decline in activity over $5 million, however quality properties are still attracting plenty of interest from genuine buyers."
The unit sector of Mosman usually performs very well and in line with the dwelling market.
With all the talk of over-supply in the form of high-density development, Mosman is partly immune from this issue.
There has been limited high density unit development in Mosman, with most new strata properties being targeted at downsizers.
The report suggests this product is more likely to be lower density and higher quality, aimed at those looking for a low maintenance lifestyle.
The most recent statistical data sourced from realestate.com.au indicates a median unit price for April 2019 of $980,000.
<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/2019/6/19/mosman%202.jpg" alt="">
A two bedroom apartment at Mosman with panoramic harbour and district views was sold for $985,000 in May.
The top floor apartment at <a href="https://www.propertyobserver.com.au/been%20a%20decline%20in%20activity%20over%20%245%20million,%20however%20quality%20properties%20are%20still%20attracting%20plenty%20of%20interest%20from%20genuine%20buyers.%20The%20unit%20sector%20of%20Mosman%20usually%20performs%20very%20well%20and%20in%20line%20with%20the%20dwelling%20market.%20With%20all%20the%20talk%20of%20over-supply%20in%20the%20form%20of%20high-density%20development,%20Mosman%20is%20partly%20immune%20from%20this%20issue.%20There%20has%20been%20limited%20high%20density%20unit%20development%20in%20Mosman,%20with%20most%20new%20strata%20properties%20being%20targeted%20at%20downsizers.%20This%20product%20is%20more%20likely%20to%20be%20lower%20density%20and%20higher%20quality,%20aimed%20at%20those%20looking%20for%20a%20low%20maintenance%20lifestyle.%20The%20most%20recent%20statistical%20data%20sourced%20from%20realestate.com.au%20indicates%20a%20median%20unit%20price%20for%20April%202019%20of%20%24980,000.%20Comparing%20this%20price%20to%20the%20median%20from%20December%202018,%20indicated%20at%20%241.03%20million,%20we%20again%20see%20a%20weakening%20trend,%20generally%20in%20line%20with%20the%20dwelling%20market%20declines%20being%20experienced%20in%20Mosman.%20The%20second%20half%20of%202019%20will%20be%20extremely%20interesting%20as%20we%20see%20what%20direction%20the%20market%20on%20the%20lower%20north%20shore%20takes." target="_blank">37/170 Spit Road </a>(pictured above) comprises open plan living/dining, two double bedrooms, stone kitchen and sunny balcony.
It's within close proximity to Balmoral Beach and Mosman Village with cafes and shops. 
"Comparing this price to the median from December 2018, indicated at $1.03 million, we again see a weakening trend, generally in line with the dwelling market declines being experienced in Mosman," it said.
"The second half of 2019 will be extremely interesting as we see what direction the market on the lower north shore takes." 
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Mosman market quietens as Lower North Shore values weaken: HTW residential 

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The first half of 2019 confronted a unique set of circumstances in that both a state and federal election were held, according to the latest Herron Todd White (HTW) residential report. 
This has provided a further brake on the Sydney property market, particularly in the case of the federal election with property at the forefront of the campaign given the negative gearing and capital gains tax changes proposed, the report noted.
In general, auction rates have improved on the back of vendor expectations meeting the market, the number of property transactions is down compared to 2018 and price declines have been slowing but are still down 4.3% from the start of the year to mid-May, with an 11.2% decline over the past 12 months, according to Corelogic. 
"There have been mixed results across Sydney however with different areas performing better than others," the valuation firm said. 
The tables below show the five best and five worst performing Sydney regions in regard to change in dwelling values.
Median prices in the Blue Mountains and upper northern beaches showed greater resilience over the past 12 months while Epping and southern Sydney appear to have experienced the greatest falls.
Capital city SA2 regions with greatest annual change in dwelling values, 12 months to Apr-19
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top">
SA2 Region 
</td>
<td valign="top">
Capital city region
</td>
<td valign="top">
Change 12 mths to April-19
</td>
</tr>
<tr>
<td valign="top">
Blue Mountains -North
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
1.1%
</td>
</tr>
<tr>
<td valign="top">
Wentworth Falls
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
0.1%
</td>
</tr>
<tr>
<td valign="top">
Bayview - Elanora Heights 
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-1.8%
</td>
</tr>
<tr>
<td valign="top">
Lawson - Hazelbrook Linden
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-2.1%
</td>
</tr>
<tr>
<td valign="top">
Newport - Bilgla
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-2.6%
</td>
</tr>
</tbody></table>
A three bedroom house with original features at Katoomba has been sold for $515,000 (pictured below).
The elevated character home at<a href="https://www.realestate.com.au/sold/property-house-nsw-katoomba-131222054" target="_blank"> 34 Freelander Avenue </a>comprises formal lounge room, open plan kitchen, large living area, three bedrooms, sunroom and established garden.
It's close to local schools, park and bus stop.
<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/2019/6/13/katoomba%20.jpg" alt="">
Capital city SA2 regions with largest annual fall in dwelling values, 12 months to Apr-19
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top">
SA2 Region 
</td>
<td valign="top">
Capital city region
</td>
<td valign="top">
Change 12 mths to April-19
</td>
</tr>
<tr>
<td valign="top">
Bass Hill - Georges Hall
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-19.4%
</td>
</tr>
<tr>
<td valign="top">
Epping - North Epping
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-19.1%
</td>
</tr>
<tr>
<td valign="top">
Panania - Milperra - Picnic point
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-18.9%
</td>
</tr>
<tr>
<td valign="top">
Revesby
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-18.5%
</td>
</tr>
<tr>
<td valign="top">
Miranda - Yowie Bay
</td>
<td valign="top">
Sydney
</td>
<td valign="top">
-17.8%
</td>
</tr>
</tbody></table>
A five bedroom house at Bass Hill recently sold for $1.03 million (pictured below).
Set on a 645 square metre block, the family home at<a href="https://www.realestate.com.au/sold/property-house-nsw-bass+hill-131175086" target="_blank"> 41 Broad Street</a> comes with multiple living areas, five bedrooms, timber kitchen and outdoor entertainment area.
Other features include security alarm system, air conditioning, video intercom, and wood fireplace.
<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/2019/6/13/bass%20hill.jpg" alt="">
The report suggest house prices still appear to be falling at a faster rate than units, with the Sydney median house price down 3.1% in the March quarter to $1,027,962.
This compares to the Sydney median unit price which is down 2% in the March quarter to $696,935 (source: Domain).
"A likely interest rate cut, an increased appetite for new loans by major lenders and more certainty after the elections are likely to see market conditions continuing to improve in the second half of the year, with prices beginning to stabilise," the report said. 
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Sydney house prices falling faster than units: HTW residential 

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The coastal region spanning Ballina to Ocean Shores is tracking well, according to the latest Herron Todd White (HTW) residential report. 
"As Sydney and Melbourne markets have significantly cooled off, this market has steadied given the lack of interstate buyers entering the market, which has been the case for the past few years," the valuation firm said. 
Whilst this market has steadied there is no evidence to suggest that it has fallen.
However, longer time periods are being spent on the market in the current conditions.
Price sectors for entry to mid-level buyers seem to be faring well, as new home buyers enter the market and local purchasers trade up.
The report suggests that the prestige market and rural residential market however appear to be slowing with a lack of transactions given interstate money has predominantly exited this price point.
Houses and more importantly houses that include a dual occupancy, appear to be faring better than most given the rental potential of a secondary dwelling and its ability to help service the loan.
As land has rolled out in the past 12 months in these areas, it is apparent that a large percentage of new builds are including a secondary dwelling (dual occupancy) for this reason.
"Some extra special information to share in this particular region is that Byron Bay is faring better than anywhere else in Australia," the valuation firm said. 
"People have continued to migrate from capital cities into these coastal resort towns for work and lifestyle balance."
<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/2019/6/19/byron%20bay.jpg" alt="">
A Byron Bay pavilion style house characterised by clever design elements was sold for $1.22 million in May. 
The designed home at <a href="https://www.realestate.com.au/sold/property-house-nsw-byron+bay-129861250" target="_blank">11 Oodgeroo Gardens</a> (pictured above) features open plan living with high ceilings, gourmet kitchen, three bedrooms, and entertaining deck.
It's close to Byron town centre, beaches, schools, restaurants and cafes. 
<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/2019/6/19/ballina%20.jpg" alt="">
Another three bedroom villa at Ballina has recently been traded for $610,000. 
Located at<a href="https://www.realestate.com.au/sold/property-villa-nsw-ballina-131217510" target="_blank"> 1/7 Vera Street</a> (pictured above), it comes with open plan living, dining and kitchen, three bedrooms, and outdoor entertaining area.
It is within a kilometre of amenities including shops, sporting fields, North Creek Canal and medical services.
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Ballina and Byron Bay market remains stable: HTW residential 

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In Western Sydney the overall trend for dwellings is still weakening after a number of years of positive growth, according to the latest Herron Todd White (HTW) residential report. 
"Negative sentiment in the marketplace and tighter lending requirements have played a part in these falling median prices," the valuation firm said.
"We predict this trend will continue for the rest of the year."
The median house price in Erskine Park are 4% lower than December 2018, according to realestate.com.au data.
Marsden Park had similar figures with a 3.6% drop, whilst Oran Park has seen only a 1% drop in dwelling median values since December 2018.
"Our experience with residential units and off the plan sales has found premiums were paid in stronger markets for the then new product," the report said. 
"As the wider market weakens, we are continuing to see settlement valuations not meeting the off the plan purchase price.
"These valuations require recent resales of similar units to support the value and in many areas the evidence is unable to support the strong off the plan prices."
An example includes a recent resale in Parramatta.
The three-bedroom unit at<a href="https://www.realestate.com.au/sold/property-unit-nsw-parramatta-130373430" target="_blank"> 4803/330 Church Street </a>(pictured below) recently resold for $990,000 representing a 30% drop in value since purchase.
It was for $1,285,000 off the plan in May 2015.
<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/2019/6/13/parramatta%202.jpg" alt="">
"This is not an uncommon occurrence with many units sold for a premium off the plan in a stronger market now unable to meet their initial purchase price up to four years later."
The report noted that there are signs in the marketplace that buyers for new units are harder to attract and a number of incentives are now being offered.
A recent example is the Pelican Estate (pictured below) in Schofields, a 270 unit development selling off the plan in western Sydney.
The developers Bathla are giving away $1.2 million in prizes to lucky purchasers with a $500,000 first prize, $200,000 second prize and a further $500,000 in prizes.
<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/2019/6/13/schofields%20.jpg" alt="">
"Incentives and giveaways such as this are not typically seen during a booming market and are considered a sign of the times."
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Western Sydney median dwelling values in decline: HTW residential 

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Northbridge is a highly regarded suburb with a mix of housing styles, with the most prestigious properties positioned on waterfront land and orientated to incorporate expansive Middle Harbour views, according to a recent Herron Todd White (HTW) residential report. 
Northbridge is an established suburb located approximately 6.5 kilometres north of the Sydney CBD, on Sydney’s Lower North Shore.
On the affordability scale, Northbridge does not often get a mention, having a median house price in 2019 of $3.2 million, according to CoreLogic data. 
"It must be noted however that this median price is down from $3.49 million in 2017, although still not quite in the affordable category for the majority," says the valuation firm. 
"Obviously some serious sacrifices are going to have to be made if you want to live in Northbridge on a beer budget. Waterfront positioning and expansive water views are out of the question, with thoroughfare roads and dated dwellings being the compromises that will have to be made." 
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A very recent sale occurred in Northbridge in January of this year which presents a very good example of such a property.<a href="https://www.realestate.com.au/sold/property-house-nsw-northbridge-129262682" target="_blank"> 27 Strathallen Avenue, Northbridge</a> (pictured above) sold on 23 January 2019 for $1.7 million after being on the market for a reported 140 days (RP Data).
 Strathallen Avenue is a main thoroughfare and the sale comprised a dated circa 1920 dwelling in need of a full renovation. It is also noted that the allotment of this property is of slightly irregular shape and is terraced at the rear, reducing the overall usability of the land.
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"Entry level properties within such a well-regarded suburb, such as 27 Strathallen Avenue at almost half of the median price in Northbridge, surely must have long-term prospects," says the valuation firm. 
The main thoroughfare cannot be removed, but the allotment could be better utilised with development of the dwelling to incorporate the above-mentioned irregularities. There is also rear street access to the property, reducing the access issues of being positioned on a main road and also providing the potential to add a studio at the rear (subject to council approval).
"If these positive attributes can be capitalised upon, then it is worth making the sacrifices to be within this champagne suburb on a beer budget," they concluded.
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