Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Joel Robinson

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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

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

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Investor demand in south Sydney has dropped, according to Herron Todd White’s latest September report.
The property data firm says that however home owners remain active in the market.
Like other parts of Sydney, investor demand has declined in recent months while home owners are generally remaining active in the market.
First home buyers generally budget up to $1,000,000, which in this part of Sydney generally restricts property options to units, villas and townhouses.
The report said there are a number of new unit developments in the Sutherland Shire which are attractive for first home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee.
For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000.
Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs.
Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land.
A sale at <a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-nsw-caringbah-125922062" target="_blank">32B Carabella Road</a>, Caringbah, (above) which sold for $1.562 million in August 2017, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot.
Empty nesters and downsizers are increasingly looking at large modern apartments in premium locations, which provide a low maintenance lifestyle close to cafes, restaurants and shopping facilities.
In many cases, these buyers are looking to spend as much as, or more than, the sale proceeds from their large family home.
Cronulla has become a popular location for empty nesters and retirees with a number of modern boutique complexes being constructed in recent years.
A large modern garden apartment, opposite the beach, sold in June 2017 for $2.76 million.
The apartment, at 4/29-31 Prince Street, (below) comprised 3-bedrooms, 2-bathrooms, double basement car space and a large wraparound yard area providing beach and ocean views.
<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/2017/09/08/429-31%20Prince%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Property investor demand in south Sydney drops: HTW

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Australia’s top cities Sydney, Melbourne, Brisbane and Canberra are approaching the peak of market position in the retail market, according to property advisory firm Herron Todd White’s latest commercial property clock.
However, the peak of the market position continues to be empty.
The approaching the peak cycle slots are completed by the Gold Coast and Coffs Harbour, though Newcastle has dropped a notch to 'rising market' from the last time in June when the retail market was tracked.
Perth remains at the bottom of the market, along with another capital city, Darwin, which is the new entrant to the group. Darwin slid two notches from being a declining market in June.
The other joiners are Emerald and Gladstone.
Adelaide is now at the start of recovery, same as Cairns.
Retail property markets are influenced by a variety of factors from economy to technology, though the performance of retail property investments can be distilled down to a very important measure – rents, say HTW.
Tenant success has a direct impact for landlords and wading through the nuances of retail rents can be a challenge.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Sept13CommPropHTWRetailClock.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/11/Sept13CommPropHTWRetailClock.png" alt="">
 
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prateek24-ezbwHMbNAk

Four capital cities closing in on peak of retail market: HTW commercial clock

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Sydney housing market is at its peak, according to Herron Todd White’s latest property clock.
<div class="cq-article-content-paras section">
But the "frenzied" house buying is fading, according to analysis by valuers' Herron Todd White.
Regulatory pressure<a href="https://www.afr.com/business/banking-and-finance/apra-takes-on-australias-dangerous-addiction--interestonly-home-loans-20170331-gvarm5"> </a>on lenders to encourage lower risk principal and interest loans plus larger deposits are also increasing encouraging owner-occupiers back into a market that has been dominated by investors, it noted.  
</div>
<div class="cq-article-content-paras section">
Sydney is joined by Coffs Harbour, Newcastle and NSW Central Coast at the peak of the market.
"Buyers in these markets are increasingly being drawn towards low maintenance living within close proximity of schools, public transport and other services," it concludes.
While the home buying frenzy has flattened, Melbourne's market has more room for growth, according to the analysis.
</div>
<div class="cq-article-content-paras section">
Perth, Darwin, Alice Springs and Mackay are at the bottom of the market. 
</div>
<a href="https://www.propertyobserver.com.au/images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.14.39%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%202.14.39%20pm.jpg" alt="">
Perth’s housing market continues to decline with it now at the bottom of the market moving from approaching the bottom last month.
Millers Point has been a strong Sydney market. A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-millers+point-126320070">30 Kent Street</a>, Millers Point (above) has been listed for between $2.5 million to $2.7 million.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-wa-perth-126169642">33 Ruth Street</a>, Perth (below) has been listed for over $840,000.
<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/2017/09/07/33%20Ruth%20Street.jpg" alt="">
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Sydney housing market reaches peak while Perth hits bottom: HTW property clock

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Residents in Perth are very careful when upgrading or renovating their homes, according to a recent Herron Todd White report.
The property investment firm says that this is due to lack of consumer confidence.
“The Western Australian economy has been haunted by a lack of consumer confidence over the past couple of years, hence home owners have utilised a high degree of caution when it comes to upgrading or extending their homes.
“Similarly, the prospect of paying stamp duty in a subdued economy has stalled transactions of established dwellings unless the product is highly desired by the market.
“The problem with undertaking a renovation project in a subdued market is that there is always a risk that the expenditure will not reflect a direct increase in capital value.
“This has definitely been an issue in the Perth residential market in previous years and also extends to the new housing market.
“The issue is however exacerbated in the established housing market given the proportionately higher costs involved in extension or renovation works.
“As an example, new construction typically occurs for rates of $1,000 to $1,500 per square metre of living area.
In the situation of an extension or renovation, these rates quite commonly start at $2,000 and rise rapidly towards $3,000 per square metre for single level properties,” the report stated.
Decisions for renovations are usually done due to emotional choices Herron Todd White comments.
“Hence in the current market, decisions made to extend or renovate are most often based on emotional choices rather than financial common sense.
“They commonly occur with families in well located, established areas offering little housing variety, where the location is not willing to be sacrificed regardless of the cost of the works involved to transfer the dwelling into something more modern and comfortable,” the report commented.
Herron Todd White warns that renovating a property in a unpopular area will be particularly challenging.
“In the current market, undertaking such a project in an outlying, potentially less desirable area is likely to be particularly challenging.
“We have seen several investors follow the flip method and come unstuck, either due to the higher holding costs associated with longer selling periods or by simply mistiming the market and the market corrects downwards as money is invested into the project. Hence these projects are not for the faint hearted.
“Some typical areas that are still seeing a decent level of extension or renovation work include Duncraig in the north where a renovator’s delight can be obtained for a little over $500,000, but well renovated properties can achieve in the $800,000s.
“The suburb is well located, being close to the coast but with good transport links to the CBD.
“An example in the south is Parkwood, where entry level housing sits at around $400,000 and good product can nudge past $600,000.
“The area offers little variety of housing but is well established with good sporting, shopping and employment centres in close proximity.
“Also in the south, the suburb of Melville has seen a significant amount of redevelopment along with restoration of the original cottages.
“The suburb is garnering interest due to its proximity to the Swan River and Fremantle and proximity to more upmarket and sought after suburbs such as Alfred Cove and Attadale,” the report warns.
A four bedroom house renovation-ready at <a href="https://www.realestate.com.au/property-house-wa-duncraig-125713754" target="_blank">6 Griffell Way</a>, Duncraig (above) has been listed for $699,000.
Similarly a renovation-ready three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-melville-123699462" target="_blank">29 Shelshaw Street</a>, Melville (below) has been listed from $769,000.
<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/2017/06/20/29%20Shelshaw%20Street.jpg" alt="">
Being careful is a top priority for home owners that plans on renovations in the near future Herron Todd White says.
“All in all, we would urge caution for any home owner considering undertaking an extension or renovation project in the current market place.
“It would be wise to speak to multiple builders to ensure you are getting the most competitive quote and seek the advice of a local property valuer to ensure that you understand the risk and reward equation prior to committing to anything,” the report stated.
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Perth residents careful when upgrading or renovating properties: HTW

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Renovation in Echuca is generally done in lower market segments, according to recent Herron Todd White report.
The property investment firm says that most older residences are taken down to make way for new buildings.
“Renovation is generally completed in the lower market segments where the finished product will be at an affordable rate while not competing with new stock.
“Interestingly there has been limited demand for centrally located properties to be renovated with most older residences being demolished to make way for new builds.
“Longer term investors have also been known to renovate (including bathroom, kitchen and a general spruce up) basic dwellings in reasonable locations with a view to achieving a substantially higher rental based on a long term hold.
“This approach has been relatively good based on strong rental demand at the current time.
“Care needs to be taken in many instances not to over capitalise in upper market segments in order not to compete with new housing stock albeit in secondary locations,” the report stated.
A recently renovated house at <a href="https://www.realestate.com.au/property-house-vic-echuca-125229202" target="_blank">1 Jamieson Drive</a>, Echuca (above) has been listed for $359,000.
Similarly a two bedroom house that is in need of renovations at <a href="https://www.realestate.com.au/property-acreage+semi+rural-vic-strathallan-120286521" target="_blank">Lot 3/920 Burgoine Road</a>, Strathallan (below) has been listed for $175,000.
<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/2017/06/20/Lot%203_920%20Burgoine%20Road.jpg" alt="">
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Echuca renovations uncommon for higher market segments: HTW

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Investor interest in Mount Gambier is high, according to Herron Todd White’s latest August report.
The property investment firm says that investors are interested in a range of property types.
“Investor interest in the Mount Gambier region has been relatively good in recent years.
“A range of property types, such as units, maisonettes and house and land packages in modern divisions, appeals to investors in the area
“Local and out of town investors are purchasing properties in Mount Gambier. Local investors typically spend less on a property and will generally lean towards units rather than house and land packages.
“In comparison, out of town investors often have larger budgets and will invest in properties that provide good yields, such as flats or house and land packages,” the report stated.
Different investors will have a different preference on what type of property they want to invest in Herron Todd White says.
“Local investors generally look at properties in the mid range whereas out of town investors look at properties in the low or high range.
“In recent years there has been limited capital growth in the Mount Gambier region.
“However, in comparison to cities and other regional areas, the returns on properties within the region are considered quite good and are therefore attractive for investment properties.
“New modern divisions have been targeted by out of town investors in recent years.
“These modern divisions have had bigger marketing campaigns that purely focus on drawing in investors,” the report commented.
Unit sales in the Mount Gambier region is increasing Herron Todd White advises.
“In recent years the number of unit sales occurring has been increasing and in 2016 unit sales were almost double what they were in previous years.
“As seen in the graph below, last year there were 98 unit sales, whilst in 2013 and 2014 there were only approximately 50 unit sales.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%202.29.22%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/2017/08/04/Screen%20Shot%202017-08-04%20at%202.29.22%20pm.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-sa-mount+gambier-124861866" target="_blank">1/11 Bertha Street</a>, Mount Gambier (above) was recently sold for $212,000.
Built in 1987 the property is currently rented for $270 a week reflecting a rental yield of 6%.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-sa-mount+gambier-124096182" target="_blank">2/1 Hart Street</a>, Mount Gambier (below) was recently sold for $205,000.
Built in 1992 the property was last sold in 2008 for $200,000.
<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/2017/08/04/2_1%20Hart%20Street.jpg" alt="">
“A high percentage of these unit sales tends to be to investors.
“Investors are generally seen as a positive for the Mount Gambier region,” the report advised.
Investors are also keen on obtaining rental properties in the area Herron Todd White stated.
“With the recent creation of the James Morrison Academy of Music, there has been more interest from investors because there are more people looking for rental properties.
“If investor activity were to slow within the Mount Gambier region we do not consider this to significantly impact the current market.
“There would likely be a bigger impact if investors were looking to exit the market altogether, as this could create an oversupply of properties.
“If we could give any advice to investors who are thinking of buying in the Mount Gambier market, it would be to do your research on locations and look deeper than just the yield.
“It would be beneficial to look at the local industry and employment within the region and also the health of the local economy,” the report stated.
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Interest in Mount Gambier from investors continues: HTW

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Renovations are common in Canberra, according to a recent Herron Todd White report.
The property valuation firm says that Belconnen, Woden Valley and Weston Creek are among the suburbs popular for renovations.
“Buyers looking to renovate in the ACT tend to gravitate towards the outer areas such as Belconnen, Woden Valley and Weston Creek.
“There are also some opportunities in the inner north suburbs of Lyneham, Watson and Downer.
“The majority of these houses were built in the 1960s and 1970s and are on much larger blocks than are available in new suburbs,” the report stated.
“Significant capital growth has occurred recently Herron Todd White says.
“Recently there has been some significant capital growth in these areas and well renovated houses have been selling at a premium.
“In some cases renovators prefer the character of an older house but want the functionality of a modern home.
“This is especially true for original houses built in the 1930s, 1940s and 1950s in suburbs such as Ainslie, Braddon, Campbell and Yarralumla.
“They are relatively small houses however are often on large blocks meaning there is good potential for extension.
“The majority of renovations in the ACT are in the detached housing market.
“Unit renovations have been done however the large supply of new apartments currently on the market has meant that the profits are relatively low for these projects.
Owner-occupiers seem to be the most common to complete renovations on houses in the ACT,” the report commented.
A recently renovated three bedroom house at <a href="https://www.realestate.com.au/property-house-act-holt-125554338">13 Longworth Place</a>, Holt (above) was listed on June for $495,000.
Built in 1972 it has since been sold in July for $490,000.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-act-chifley-125970806" target="_blank">10 Eggleston Crescent</a>, Chiefley (below) has been listed for $625,000 plus.
Built in 1960 it last sold in 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/2017/08/23/10%20Eggleston%20Crescent.jpg" alt="">
A recently renovated five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-flynn-125394210">5 Homann Place</a>, Flynn (below) was sold in May for $746,500.
Built in 1975 it last sold for $610,000 in 2010.
<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/2017/08/23/5%20Homann%20Place.jpg" alt="">
Similarly a recently renovated three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-palmerston-125393934">21 Bendora Crescent</a>, Palmerston (below) was sold in May for $681,000.
Built in 2001 it last sold in 2002 for $240,000.
<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/2017/08/23/21%20Bendora%20Crescent.jpg" alt="">
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Canberra popular for renovators: HTW

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Median residential prices in Darwin continues to decline, according to Herron Todd White’s June report.
The property advisory firm says that sales are dominated by first home buyers.
“Buying property in Darwin hasn’t been this affordable in a very long time.
“The present market can be characterised as a buyer’s market with property prices and sales volume depressed in the first quarter of 2017.
“Sales are primarily dominated by first home buyers on the back of government incentives and record low interest rates.
“In contrast, subdued rental growth continues to deter property investors from buying and investing in the local market, instead chasing larger gains in the eastern and southern states.
“The latest quarterly report from REINT for the greater Darwin area (including Palmerston) indicates that the median price has reduced by 9% year on year to $530,000 and 14% to $430,000 for detached dwellings and units respectively,” the report stated.
The majority of existing units in the CBD and inner suburbs are 15 years old Herron Todd White advises.
“Existing units in the Darwin CBD and inner Darwin suburbs of Stuart Park, Larrakeyah, Parap and Woolner offer good value with 3-bedroom, 2-bathroom apartments selling in the range of $360,000 to $500,000 and $300,000 to $450,000 for 2-bedroom, 2-bathroom apartments.
“The majority of this stock is 15 years old and offers a modest standard of accommodation.
“Furthermore, entry level units which are mainly comprised of 2-bedrooms and 1-bathroom can be found in the northern suburbs of Nightcliff, Coconut Grove, Millner and Rapid Creek.
“These units are selling in the price range of $200,000 to $350,000 and offer entry level accommodation.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nt-millner-122612146" target="_blank">16/165 McMillans Road</a>, Millner (above) has been listed for $350,000.
It was last sold in 2006 for $215,000.
“Apart from the inner city and northern suburbs, units in Palmerston also offer an affordable option for those looking for a bargain with current selling prices ranging from $220,000 to $300,000 for a 2-bedroom, 1-bathroom unit and $300,000 to $350,000 for a 3-bedroom, 2-bathroom unit,” the report advised.
Inner Darwin suburbs cost above the $500,000 price bracket Herron Todd White warns.
“On the other side, dwellings in the inner Darwin suburbs are far beyond the reach of purchasers with only half a million to spend, with the latest REINT March quarter 2017 report indicating a median price of $667,500,” the report warned.
Herron Todd White states that northern suburbs are less expensive.
“However, the northern suburbs which are areas between Nightcliff and Karama have a lower median price of $580,000 and $520,000 respectively.
“Older dwellings in the less popular suburbs of Malak and Karama offer affordable entry level home ownership with a ground level 3-bedroom, 1-bathroom dwelling selling in the range of $350,000 to $400,000.
“These dwellings have a fairly basic level of improvement and require some degree of renovation.
“Other more popular suburbs such as Leanyer, Wulagi, Anula and Jingili also provide a host of options but sell at a slightly higher price range from $400,000 to $500,000.
“Further away to Palmerston, Gunn, Rosebery and Durack are some of the suburbs that most buyers would get houses with good value for money, particularly dwellings in the price range of $400,000 to $500,000 with 3-bedrooms and 2-bathrooms,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-durack-125752690" target="_blank">13 Deakin Place</a>, Durack (below) has been listed for $459,000.
Built in 2000 the property was last sold in 2006 for $390,000 and in 2002 for $110,000.
<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/2017/07/25/13%20Deakin%20Place.jpg" alt="">
New land developments have a low median price Herron Todd White commented.
“In terms of purchasing your own block of land and building a new dwelling, the newly developing suburb of Zuccoli offers affordable land options with prices as low as $100,000 or house and land packages from builders as low as $450,000.
“We expect property prices to remain depressed for the remainder of 2017, with minimal evidence of stabilisation in the form of increased transactions.
“A combination of factors has led to the sustained slowing down in the Darwin economy, such as the winding down of the INPEX LNG project and a shrinking of the local Territory population.
“The inner city unit market has been one of the worst hit segments, with a considerable supply still applying significant downward pressure on prices.
“These conditions are compounded by a lack of investors entering the market, with subdued rental conditions likely to continue in the short to medium term.
“Overall, the current property market presents a great opportunity for purchasers looking to secure a property,” the report commented.
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First home buyers dominate Darwin residential sales: HTW

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Local and non-local investors are strong in Tamworth, according to Herron Todd White’s latest August report.
The property investment firm says that local investors tend to pick properties that are in a good location and have average rent return.
“The Tamworth region has a strong investment sector with both local and non-local investors taking part.
“The trend for local investors is to buy a safe property (good location, average rent return and lower risk).
“On the other side we see non-local investors being more risky, with a focus on higher rent returns which tends to be properties in less desirable areas with returns of up to 8% gross but less capital gain,” the report stated.
Non-local investors are starting to invest more in new subdivisions Herron Todd White advises.
“There has also been a notable increase in non-local investors investing in new subdivisions that are entirely aimed at outside investors.
“These sub-divisions become a less desirable location due to the lack of owner-occupiers and so far have appeared to enjoy little in the may of increased market value.
“Local investors operate within a large price range depending on their financial capacity with investments occurring from around $200,000 all the way to $600,000.
“Non-local investors are a bit more constrained with their investments with the lower bracket being around $150,000 (parts of West Tamworth) up to around $500,000.
“Each price point represents a different goal for the property with the lower end focusing on higher rental yields and the upper end focused on capital growth,” the report advised.
Tamworth’s continued expansion means that investors will now have to consider capital gains when purchasing properties Herron Todd White says.
“With Tamworth continuing to expand and doing quite well, the strategy of medium price point with average rental return but opportunity for capital gains seems to be the better strategy of the two.
“The reason for this is that with an average return of 5% to 6% gross on these properties, the return is still better than capital cities and it provides less risk than higher yield properties.
“Over the past 12 months we have seen an increase in investor activity within the Oxley Vale area as there is opportunity to buy both new and established homes within an expanding suburb that is not too expensive.
“Nice established homes can be purchased for $300,000 and enjoy a return of roughly 5.5% gross.
“The continual expansion of Tamworth makes investors a vital part in allowing it to grow, as more people come to town and require accommodation.
“At this time there has been minimal to no impact on first home owners from investors, due to the affordability of Tamworth,” the report commented.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-126074126" target="_blank">20 Robyn Street</a>, Tamworth (above) has been listed for $275,000.
Built in 1950 it was last sold in 2013 for $226,500.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-126043098" target="_blank">6 Wentworth Place</a>, Tamworth (below) has been listed for $279,000.
<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/2017/08/04/6%20Wentworth%20Place.jpg" alt="">
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Investment in Tamworth strong from both local and non-locals: HTW

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Lower end retail spaces in Canberra can be purchased from between the mid $5,000 to mid $7,000 per square metre, according to Herron Todd White’s latest June report.
The property investment firm says that waterfront locations can cost up to $10,000 per sqm as the opportunity to secure a water view is preferred over standard street frontage.
“Purchasers wanting access to the retail market in Canberra have the choice of the primary locations of Canberra City, Braddon and Kingston Foreshore, and the secondary locations of Woden, Belconnen and Gungahlin," it says.
Yields achieved for good quality accommodation in primary locations are in the range of 5.5% to 7.25%, according to HTW.
“The typical property would be a unit (strata title) in a complex comprising 50 to 150 square metres within a mixed use commercial and residential development. It would include good exposure to passing traffic and a mix of tenancy occupants such as restaurants, individual clothing retailers and boutique outlets, accompanied by an office and residential component on the upper levels."
“Secondary locations such as Woden and Belconnen are more accessible at the lower end of the market,” the report stated.
New mixed use developments are providing modern, affordable retail spaces, said Herron Todd White.
“A number of new mixed use developments are providing modern space at ground floor level which is more affordable than primary location equivalents.
“These include developments such as Mystere at Macquarie and Altitude, Northpoint Place, Belconnen.
“Market entry prices range from $2,000 per square metre to $7,500 per square metre for a 92 square metre unit with a ten year lease in an established centre.
“Yields achieved for secondary commercial properties range from 6% to 10% and reflect the strength of the lease covenant nature, age of the improvements and the type of purchaser investor or owner-occupier,” the report advised.
Presently the lower sector is stable with demand coming mostly from owner-occupiers or self-managed occupiers Herron Todd White comments.
“The lower price sector is stable at present with demand coming from self managed superannuation funds and owner-occupiers.
“The market appears to be securing long term potential over the initial yield.
“The population growth in the northern suburbs of Canberra and densification of the inner city is seeing demand for this property type grow as people enjoy the convenience of accessible local goods and services.
“Both primary and secondary locations are offering this type of property and continue to evolve.
“We are seeing the emergence of Melbourne style laneway occupants providing interesting and point of difference uses that were previously unavailable to retail uses.
“An example is No Name Lane in the city opposite Hobart Place which provides a vehicle free pedestrian zone, allowing a pleasant alternative to the typical corner shop or shopping centre space situated between two buildings.
Secondary locations are providing opportunities for purchasers to acquire property in the lower price sector at an entry level that is similar to that in prime locations, yet more affordable, the report said.
A retail showroom property at <a href="https://www.realcommercial.com.au/property-retail-act-hume-502425706" target="_blank">4 Sawmill Circuit</a>, Hume (above) has sold for $4,310,000 through Burgess Rawson, according to CoreLogic data. It sold after just four weeks on the market.
Similarly, an office building at <a href="https://www.realcommercial.com.au/property-land+development-act-bruce-502430022" target="_blank">15 Thynne Street</a>, Bruce (below) has been put on the market through CBRE. It last changed hands for $3,200,000 back in 2004, CoreLogic RP Data shows.
<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/2017/06/23/15%20Thynne%20Street.jpg" alt="">
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