<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" />

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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.

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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.
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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;

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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

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The Sydney unit market continues to be in decline, according to the valuation firm Herron Todd White.
Their starting to decline category sees Canberra, South East NSW and Bendigo join the major capital.
Brisbane and Perth remain in the declining market where they were in February's apartment clock.
South East New South Wales were at the peak of the market last month, but are now seeing declines.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/13/clockMarch.jpg" target="_blank">to enlarge.</a>
 
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The dominant regions at the peak of the market again are north of Sydney, the likes of Newcastle and the Central Coast performing strongly.
Herron Todd White suggest Melbourne and Gold Coast units are still at the peak of the market, while rural areas in Queensland dominate the bottom of the market.
There are some areas on the Queensland coast that are still in the market recovery, such as Townsville and Hervey Bay.
Tasmanian suburbs are apparent in the still rising market.
 
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j.ballantyne1990-6AQqhLzZaK

Canberra joins Sydney unit market in starting to decline phase: HTW property clock 

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The general market in southern and western New South Wales continues to show strengthening signs, according to the latest HTW report.
"Generally we have seen the level of sales activity drop slightly, however this is a reflection of a lack of stock rather than a softening of market interest overall," the March 2018 update by the valuation firm advised.
In far western New South Wales, HTW valuer Scott Fuller noted new benchmark levels set in dollar per DSE rates achieved.
The sale of Berta Station which is a 43,500 hectare holding with a carrying capacity of 10,000 DSE located 120 kilometres south-west of Broken Hill on the South Australian border recently sold for $5.38 million which equates to $124 per hectare overall.
From a productive capacity basis this equates to $527 per DSE.
"These rates are generally seen in tablelands country in far higher rainfall areas," Fuller said.
"Like all market activity there are always outlying sales and it appears that this sale is one of those, however it does indicate the willingness of buyers in the current market to stretch the normal excepted boundaries in terms of a value perspective," he said. 
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Two examples of the level of strengthening included a recently visited, large mostly arable grazing property in the Cootamundra area which we last valued in June 2016. 
"Our current assessed value for the same property has risen by 26 percent over the 19 month period, with a number of solid large-scale sales to support this assessment. 
"This equates to 1.4% per month over 19 months which is quite phenomenal. 
"We have also revisited some larger grazing properties to the north-east of Broken Hill which were last valued in late 2014. 
"Our current assessment indicated a 28.8% rise in overall value which equates to 9% per annum - still a strong result."
Fuller advised when building a business plan for a rural purchase at present, it would be prudent not to allow for any capital growth in the short to medium term as this same situation occurred back in 2008.
"Our experience then indicated that generally the market in New South Wales peaked in late 2008 and general value levels softened slightly and then were steady for a number of years.
"There were a number of corporate purchases made at this time and our relationship with these assets over the ensuing years showed that the original value levels were not reached again for approximately six to seven years.
"While we are not saying that the market will perform exactly the same, it does have a history of repeating and our expectations are that a similar scenario will result over the coming 12 to 18 months.
"The difference in 2018 is that our interest rates are at record lows and are still encouraging investment from within the industry, so we may just see the golden period continue for a bit longer yet!"
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Far west NSW rural prices matching tablelands country: HTW

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It is hard to see any reasons for the current buoyant Mildura rural property market not to continue throughout 2018, according to HTW valuer Graeme Whyte.
"The current property cycle is remarkable for the fact that virtually all local commodities are enjoying above average returns, with the outlook for most commodity prices currently being very favourable," the recent update advised.
"At the same time, there is a large pool of corporate buyers targeting Australian agriculture," added. 
Buyers are actively chasing most types of horticultural property as well as cropping and grazing enterprises and appear prepared to pay historically high prices for properties that provide good economies of scale and have a good standard of improvements.
There also continues to be large scale green field development of almonds, olives, table grapes, citrus and to a lesser extent dried fruit, however the pool of available land for such development is getting smaller. 
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The valuation firm noted the foundations for the current good export returns for commodities such as citrus, table grapes and almonds date back to many years of patient market development combined with the signing of free trade agreements with key Asian countries.
The ability of growers and marketers to ensure all market protocols are met will be the key to maintaining these lucrative markets.
"Maintaining a competitive exchange rate will also be important." 
The other main factor affecting the horticultural sector will be the irrigation water outlook, Whyte advised.
"There was above average winter rainfall (and snow fall) during 2016 and 2017, which contributed to high allocations in the Murray Valley and readily available temporary water on the leasing market.
"The cost of leasing water has been mostly below $130 per megalitre for the past 18 months.
"Forecasting future rainfall is beyond my brief, however history suggests that there will be a drier winter during one of the next few years and that at some stage, irrigators will have to face the prospect of paying more for temporary water." 
One of the more noteworthy recent sales is of <a href="https://www.realestate.com.au/sold/property-mixed+farming-nsw-arumpo-7893338" target="_blank">Petro Station</a>, which is a large scale cropping and grazing property located in south-western New South Wales, approximately 60 kilometres north of Mildura.
This property, held under NSW Western Lands lease, included approximately 8,400 hectares of good standard cropping country.
The $11.8 million sale was advised with the land transfer at $9 million. It was bought by GoFarm Australia which snared one of Victoria's biggest parcels of water with its purchase of Del Rios for around $22 million in 2016. The 900ha vineyard, north of Swan Hill and near the junction of the Murray and Murrumbidgee rivers at Kenley, was sold along with its 5476 megalitres of high-security water.
HTW advised the Petro sale shows over $900 per hectare for well regarded arable land, but located in an area with an average rainfall of around 300 millimetres.
It was offered for the first time in 73 years by the Doyle family.
The property is 26,685 hectares of which 9000 hectares is of cropping country with sandy loam soil type and solid cropping history and average rainfall 302.5 mm and 17,500 hectares approximately of grazing land with some 800 dorpers and 90 per cent fully fenced.
The property has a further 200 hectares cropping license undeveloped, and the balance of land consists of pristine Mallee scrub and locked up conservation in conjunction with Dept of Infrastructure and Natural Resources .
Petro has a permanent 21 megalitre water entitlement with private diversion from the Darling river via a 32 km, 2 inch line.
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Meanwhile, the purchaser of this property sold an 1,130 hectare parcel of mostly arable land adjoining the Robinvale irrigation district for approximately $4,500 per hectare, which showed a healthy 240% capital gain in the three years they owned it.
The purchaser of the Robinvale property is an established table grape growing family, who intends to complete a large scale horticultural development.
"This last sale highlights how quickly market sentiment in the horticultural sector can shift." 
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Some of the trends HTW expect to see during 2018 include:
• A large number of sales continuing to be negotiated in off market transactions, with both buyers and sellers willing to by-pass real estate agents. In most cases, buyers are directly approaching owners of properties deemed to suit their requirements. 
• The price gap between highly improved and just average standard properties will narrow. It will get harder to find highly improved properties and buyers will likely become more pragmatic as a result. 
• There will continue to be sales of winegrape vineyards where the purchaser intends to redevelop to a higher returning crop. 
• As the market moves through the current cycle, there will be some properties purchased for prices that are subsequently viewed as being at above market levels.
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Mildura rural market to remain bouyant in 2018 

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Houses in the NSW Central Coast, Coffs Harbour, NSW Mid North Coast, Newcastle and South East NSW are all currently at the peak of the market, according to valuation firm Herron Todd White.
They were the same five localities which were at the peak of the market in Herron Todd White's December property clock (bottom).
The clock hasn't changed too much since December, although Canberra's houses have now joined Sydney in the decline.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/6/Feb_House_Clock.jpg" target="_blank">to enlarge.</a>
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Melbourne, the Gold Coast and the Sunshine Coast are still approaching the peak of the market, while the likes of Perth and Darwin remain at the bottom of the market along with some regions in Queensland.
Houses in Brisbane, Adelaide and Hobart are still considered a rising market, however that's where Herron Todd White had Canberra at the end of last year.
Click here <a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWHousesDec.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWHousesDec.jpg" target="_blank"><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/2017/12/5/HTWHousesDec.jpg" alt=""></a>
 
 
 
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jrobinson-rf4aSBido9

NSW coastlines at peak of market, while Sydney and Canberra start to decline: HTW property clock

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Four capital city unit markets kick off 2018 in decline, according to the latest HTW property clock.
Sydney is in decline. Brisbane, Canberra and Perth are described as declining markets. 
The latest property clock is not too different than September when the Melbourne apartment market was still at its peak, according to Herron Todd White’s latest report.
Melbourne is the only major capital city at its peak, which has got busier.
The peak last September consisted of the NSW Central Coast, Coffs Harbour, Gold Coast and Newcastle. The February clock adds the Gold Coast, the NSW mid North Coast and the south east NSW as also at the peak in the market.
September Property Clock (below) 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.15.09%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/07/Screen%20Shot%202017-09-07%20at%202.15.09%20pm.jpg" alt="">
 
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Four capital city unit markets kick off 2018 in decline: HTW property clock

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Melbourne stays firmly perched at the peak of cycle for unit markets, while Sydney remains at the start of decline, according to property valuation firm Herron Todd White’s (HTW) recent report.
“This year will undoubtedly be seen as the one where the collective boomtown mentality of Sydney took a breather,” according to HTW’s Month in Review for December.
In Melbourne, it was a very good year for property with great fundamentals and many investors still confident there’s a way to go.
Ballarat, which had made it to the peak of the unit market cycle, slipped one notch to approaching the peak.
The peak of the market position is dominated by cities or regions from NSW, with Gold Coast and Melbourne the only outsiders.
As HTW put it: “2017 was the year some of our hottest markets decided it was time to take a breather.”
The bottom of market has new entrants in Darwin and South West WA, which join an already long list led by Adelaide. Darwin was approaching the bottom in November.
Meanwhile, Brisbane, Canberra and Perth remain at the declining market position.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWUnitsDec.jpg" target="_blank">Click to enlarge</a>
 <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/2017/12/5/HTWUnitsDec.jpg" alt="">
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prateek24-ezbwHMbNAk

Melbourne at peak of unit market, Sydney remains in decline: HTW clock

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None of the capital cities are at the peak of the housing market cycle, according to property valuation firm Herron Todd White’s December Month in Review.
“2017 was the year some of our hottest markets decided it was time to take a breather,” according to HTW’s report.
Sydney remains at the start of decline on the property clock, like November. Same for Melbourne, which remains at approaching the peak of market position.
Brisbane has risen one notch from start of recovery and joins the other capital cites of Adelaide, Hobart and Canberra at the rising market position.
Meanwhile, Perth has slipped one notch to reach the bottom of market cycle, joining Darwin, which is the only other capital city at the bottom.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWHousesDec.jpg" target="_blank">Click to enlarge</a>
 <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/2017/12/5/HTWHousesDec.jpg" alt="">
However, HTW writes that there were "those sectors that continued to lay dormant while a few even outdid expectations”.
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jonathanchancellor-7SQnKwU6yx

Hot Sydney takes a breather, with house prices in decline: HTW December 2017 property clock

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Dubbo, the regional city in NSW, has sprung to the top of the retail property clock for December, according to valuation firm Herron Todd White latest report.
Meanwhile, Sydney has dropped a notch to a rising market position from the previous approaching the peak cycle in HTW’s retail property clock in September. Brisbane has also transitioned to a starting to decline position from its approaching the peak position in September.
At the bottom of the property cycle, Rockhampton joins Darwin and Perth. Others at the same position are Emerald, Townsville and Wide Bay.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWRetailDec.jpg" target="_blank">Click to enlarge</a>
<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/2017/12/5/HTWRetailDec.jpg" alt=""> “A rush to yield helped drive prices up in many commercial markets, but of course this only served to tighten returns over the long term,” said HTW in the report.
“Not every market was the same in 2017 of course – we’re a diverse country with opportunities galore across our wide, brown land,” it adds.
 
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Dubbo rises to the top of retail clock in December: HTW

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Townsville’s industrial market remains flat, according to Herron Todd White’s (HTW) recent report.
The property data firm says that industrial rents are declining.
“The industrial market remains flat with current market activity being largely confined to affordable properties that tick all the right boxes in the sub $1 million range and largely catering to intending owner-occupiers," says the report.
“There are occasional high-end syndication or trust purchases, but only for properties with strong lease profiles. Industrial rents have been on a declining trend and appear to have reached a level that is being accepted by the market," it added.
As a result of softening rents, incentives also appear to have settled to reflect rent-free periods of around three months, according to HTW.
“Broadly speaking, a large portion of mainstream industrial property falls within the $90 to $110 per square metre rental range.
“Within the lower end of this range is typically smaller older light industrial properties in Garbutt with small office components.
“Larger better quality mainstream industrial properties in Garbutt and Bohle generally fall within the mid to higher end range depending on the office size component and hardstand areas.
“Industrial property exhibiting large office components and extensive hardstand areas can reflect rents up to above $140 per square metre.
“Overall rents are flat with the market continuing to exhibit a balanced to oversupply of property available relative to current demand.
“This is likely to see downward pressure remain on rental rates until such time as the rental vacancy situation improves,” the report stated.
An industrial building at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-aitkenvale-501076371" target="_blank">5-7 Madden Street</a>, Aitkenvale (above) has been listed for $950,000. The listing agents are Dan Place and Mark Fitzgerald of Knight Frank.
An industrial property at <a href="https://www.realcommercial.com.au/property-offices-qld-kirwan-502465026" target="_blank">719 Ross River Road</a>, Kirwan (below) has been listed for $990,000. The listing agents are John Gribbin and Paul Kotze of John Gribbin Realty.
<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/2017/08/28/719%20Ross%20River%20Road.jpg" alt="">
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Industrial market in Townsville remains flat: HTW

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A typical home owner in Mount Gambier could be a first home buyer, a family or an empty nester, according to a recent report from the Herron Todd White (HTW) valuation firm.
First home buyers are generally younger and look for a property that is within the $150,000 to $250,000 price range.
Families are generally after a home that has three to four bedrooms and perhaps two living areas and is within the price range of $250,000 to $450,000.
"For empty nesters it is varying," the report said.
"They may be looking to downsize from a large family home.
"They are pretty flexible and may choose to either buy or build a modern, smaller dwelling for easier maintenance.
"A lot of empty nesters are also selling and following their children to university or even packing up and travelling."
Recently, a three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-120791109" target="_blank">61 Acacia Street</a>, picture above, in Mount Gambier recently sold for $185,000.
Another three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-126405418" target="_blank">81 Cardinia Street</a> recently changed hands for $220,000.
<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/2017/11/22/MtGambier2.jpg" alt=""> 
HTW noted with the construction grant still in place for first home buyers, it is still common for first home buyers to build their first home.
These homes are generally within the price range of $250,000 to $350,000.
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