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

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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

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Residential values in Illawarra continue to increase, according to Herron Todd White’s latest report.
The property advisory firm says that the greater Wollongong area will become "unaffordable" in the future.
“Values continue to increase across the Illawarra and as a result, those with $500,000 to spend have less and less to purchase.
“North of Wollongong, possibilities are limited to older 2-bedroom townhouses or units in suburbs such as Corrimal, Bellambi, Woonona and Thirroul.
“It may also be possible to purchase a bush block in Wombarra or Coledale, however there wouldn’t be a building entitlement and the purchaser would be taking a big risk if they were hoping to get approval to build a dwelling.
“Around the Wollongong CBD it is getting hard to find 2-bedroom units even in older complexes for less than $500,000.
“There are plenty of 1-bedroom units available priced from about $375,000,” the report stated.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-wollongong-125080534" target="_blank">108/19 Market Street</a>, Wollongong (above) has been listed for $350,000.
South of the CBD are more affordable, but will be older styled Herron Todd White comments.
“Moving south of the CBD and we come across the first suburbs where $500,000 will be able to buy a single residential dwelling.
“Locations such as Cringila, Warrawong, Lake Heights and Berkeley still offer older style small 2- or 3-bedroom dwellings although these will be in fair condition.
“Units, villas and townhouses are all the most likely property types that can be purchased in the Shellharbour for under half a million dollars.
“Most 2-bedroom strata properties are priced under this mark and in areas such as Albion Park Rail it is possible to purchase an older style 3-bedroom townhouse for between $450,000 and $500,000,” the report commented.
A three bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-nsw-albion+park+rail-125978622" target="_blank">3/38 Bateman Avenue</a>, Albion Park Rail (below) has been listed for between $465,000 to $485,000.
<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/2017/07/25/3_38%20Bateman%20Avenue.jpg" alt="">
Herron Todd White says that new residential land releases are available for less than $500,000.
“Not to be forgotten are the new residential land release areas where regular 300 to 600 square metre vacant lots are available for less than $500,000 in estates such as Calderwood, Horsley and Wongawilli.
“Growth in the Shoalhaven residential market has also been strong and there are now many houses in Nowra that are no longer available for less than $500,000.
“However in Nowra and surrounding suburbs it is still possible to purchase a 3- or 4-bedroom family home under $500,000 and this is the same for locations such as Culburra Beach, Sanctuary Point and Sussex Inlet.
“As an investment we would recommend areas still deemed affordable in the Shoalhaven such as properties in and around Nowra and the coastal suburbs of Callala Beach, Callala Bay and Culburra Beach.
“While all locations have had sustained growth for a while now, we believe that the Shoalhaven will continue into the short to medium term as the greater Wollongong region becomes more unaffordable and road links get better and better with the Berry bypass underway and the Albion Park bypass planned,” the report stated.
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j.ballantyne1990-6AQqhLzZaK

Illawarra residential values continues to rise: HTW

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Half a million dollars is enough to buy a home in the Tamworth region, according to Herron Todd White’s July report.
The property investment firm says that those wishing to upgrade are the main market.
“The lazy half million gives buyers the opportunity to buy a quality home in the Tamworth region without having to sacrifice any of the creature comforts.
“$500,000 will get you a near new, large brick veneer home of a quality fit-out in the expanding suburbs of Calala, North Tamworth or Moore Creek, or if new is not your style it will buy a renovated brick federation home in East Tamworth or North Tamworth.
“This price range also gives buyers the opportunity to move out of town onto small acreage (one to five hectares) with an older dwelling (1970 up) in original but good condition.
“With the Tamworth median house price sitting around $360,000, half a million dollar houses are certainly not what first home owners or investors are looking for.
“At this price range we are seeing upgraders and families as the main target market.
“The best performer at this price range would be the small acreage properties or the older homes in East Tamworth, both of which are experiencing good growth in land values and capital gains,” the report stated.
Investors can benefit from the return potential in Tamworth Herron Todd White says.
“For investors this price opens up the potential for a modern duplex or older unit block or triplex.
“While these options offer little in the way of capital growth a gross return on investment of 6% to 8% is easily achieved.
“The other option would be to purchase two separate properties, with plenty of reasonable properties available at the $250,000 mark that provide potential for capital growth as well as strong rental returns
“We believe this market will continue to be a strong contender within the Tamworth market.
“With the introduction of the new stamp duty rules for first home buyers and continuing low interest rates, we expect there will be more activity in the $250,000 to $400,000 market which will open up more opportunities for those looking to upgrade and move into the next price bracket,” the report commented.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-125732778" target="_blank">11 Wickham Street</a>, Tamworth (above) has been listed for $358,000.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-125732778" target="_blank">83 Crown Street</a>, Tamworth (below) has been listed for $375,000.
<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/2017/07/31/83%20Crown%20Street.jpg" alt="">
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Half a million more than enough for Tamworth homes: HTW

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A $500,000 outlay in Cairns can secure a modern suburban dwelling, according to Herron Todd White’s latest report.
The property advisory firm says that the majority of properties in Cairns are sold for under $500,000.
“A $500,000 property investment in Cairns will secure a well located modern executive style suburban dwelling, or alternatively an above average quality apartment in the Cairns CBD, located on the mid to upper levels of a near new high rise unit development.
“Indeed the purchaser or investor at this price level would find a large range of sectors, styles and locations available to choose from.
“However it remains impossible to spend $500,000 on a new apartment due to the absence of new unit construction at that level.
“The $500,000 mark in the Cairns market is relative to the current median price levels of approximately $414,000 for houses and $220,000 for apartments.
“Over the past twelve months, 75% of houses and 95% of apartments sold in Cairns have transacted under $500,000,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-bentley+park-124902638" target="_blank">24 Bathurst Drive</a>, Bentley Park (above) was sold for $355,000.
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-trinity+beach-125802850" target="_blank">6/108 Trinity Beach Road</a>, Trinity Beach (below) was sold for $308,500.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/25/6_108%20Trinity%20Beach%20Road.jpg" alt="">
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Most Cairns residential properties sold under $500,000: HTW

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A $500,000 outlay can buy a wide variety of properties in Hervey Bay, according to Herron Todd White’s latest report.
The property advisory firm says that Fraser Coast is the best performing area.
“A lazy half million in Hervey Bay can buy a wide variety of property depending on the location, size of the site and improvements.
“Property along the waterfront Esplanade has been selling in this price range, with most dwellings being older circa 1950s basic dwellings in need of complete refurbishment.
“There are also modern homes only one street from the Esplanade which sell in this price range, within a developing estate known as Ocean Blue in Pialba.
“Best performing property for the Fraser Coast in terms of potential capital growth for the short to medium term is considered to be within Dundowran Beach and entry levels homes along the Esplanade.
“Executive homes on larger lot sizes between 2,000 and 4,000 square metres are generally available in Wondunna, Urangan and Urraween above $450,000.
“Improvements mostly include 4- to 5-bedroom homes built within the past ten years, with a pool, granny flat or shed,” the report stated.
A four bedroom 2006 sqm house at <a href="https://www.realestate.com.au/property-house-qld-wondunna-125890858" target="_blank">8 Kingston Close</a>, Wondunna (above) has been listed from $500,000.
Rural residential properties appeals to certain sectors of the market Herron Todd White advises.
“Rural residential property on lot sizes between two and four hectares close to Hervey Bay appeals to a certain market sector seeking space for horses and other livestock.
“In most instances there are no reticulated water or sewage services which can be a deterrent.
“Hervey Bay Esplanade unit prices are considered to be very reasonable overall, after a long steady recline over the past seven to eight years.
“In the current market $500,000 is likely to buy an upper level 2- to 3-bedroom modern unit with good ocean views in a circa 2005 to 2008 complex with extensive common improvements.
“You can expect to achieve high value for money in Maryborough, with property over $400,000 generally being renovated Queenslanders which have been finished to a high standard.
“There are also some well appointed homes on larger sites in the fringe suburb of Tinana.
A renovated three bedroom house at <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-maryborough+west-123392550">56 Dunford Road East</a>, Maryborough West (below) has been listed for over $499,000.
<img src="https://www.urban.com.au/images/2017/07/25/56%20Dunford%20Road%20East.png" alt="">
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What $500,000 secures in Hervey Bay: HTW

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Renovating properties in Tasmania is becoming more popular, according to Herron Todd White’s latest report.
The property valuation firm says that Hobart and Launceston are where renovation work is the highest.
“Throughout the Tasmanian property market renovation is a popular pastime, as many houses and units have become dated and in need of an update.
“With the increase in demand for properties throughout the greater Hobart and Launceston regions, we are seeing many home owners who are looking to place their property on the market, either renovating their property prior to sale, or placing it on the market with an advertisement description outlining the property’s renovation potential for both the investor or owner-occupier.
“The term flipping properties has also become quite common in our market.
“Many property investors are looking to make a quick profit from purchasing a property with the intention to renovate over a six to 12 month period, then placing it back on the market at a considerably higher price than the original purchase price,” the report stated.
Home renovations has inspired a competitive housing market Herron Todd White says.
“According to the latest figures home renovations have surged which has been inspired by the competitive housing market.
“There have been reports from the financial and housing sectors which have noted an increase in people opting to renovate instead of buying a new house.
“The latest Westpac Home Ownership Report noted, close to half of the respondents were thinking about going down the renovation path and one out of five had started to renovate.
“The report noted that in Tasmania 71% of respondents were completing renovation work at the time, and from those thinking about renovating in the near future, 23% advised it was their highest priority.
“The Housing Industry Association Tasmania in its latest Renovation Roundup report mentioned renovation activity in Tasmania was forecast to increase between now and 2020, which will bring the value of renovation activity to $758 million.
“The report also mentioned the largest rise was forecast for this year with approximately 6% growth,” the report commented.
There is a split between owner-occupiers and investors Herron Todd White comments.
“Both in the north and south of the state we are seeing a split between owner-“occupiers and investors.
“Investors do seem to be on the increase and there is a strong possibility investors will dominate the market, especially with the increase in property prices throughout mainland Australia, which could drive investors to Tasmania.
“We are also seeing that rising prices and strong demand for property has home owners worried about being priced out of the market, therefore they are opting to renovate,” the report stated.
Kitchen and bathroom are the primary renovation areas Herron Todd White advises.
“The most popular locations for renovatable properties are within the suburbs located closer to the Hobart and Launceston CBDs as they are still at an affordable price.
“Also with the increase in year wide tourism throughout the state, we are seeing many properties renovated in order to be advertised for short term accommodation through Airbnb and Stayz.
“As you travel further from the Hobart and Launceston CBD, there is a decrease in demand for properties.
“The main renovations being completed are kitchen, bathroom and painting throughout.
“We are seeing varying costs for this renovation work depending on the location of the property.
“The closer a property is to the CBD, there is a noticeable increase in architecturally designed renovations which increases the over cost of work,” the report advised.
Herron Todd White says that unit renovations are becoming increasingly common.
“Unit renovation is also quite common throughout the state as many units are also dated and in need of an update.
“With generally less costs associated in renovating a unit, there is strong appeal to complete these works.
“Units closer to the CBD are in high demand with a current shortage in supply which is attracting many investors to the units advertised for sale.
“Areas at a distance and not within the greater Hobart and Launceston areas can struggle when it comes to making a profit post renovations, as there is considerably less demand for properties in these areas.
“In saying this, had renovation work not have been completed in these areas, the properties may experience an extended selling period.
“It pays to do your research prior to commencing any renovation work as what can appear to be a simple renovation job can quickly lead to unexpected issues and delays which can prove to be quite costly.
“To assist with planning and budgeting home owners should take steps to determine the estimated available equity in their property,” the report stated.
Property Observer found a beauty with a renovated bathroom at <a href="https://www.realestate.com.au/property-house-tas-deloraine-125787306" target="_blank">40 Parsonage Street Deloraine, Tasmania</a> (below).
The three bedroom home is on 645 m² and is on the market for $248,000.
<img src="https://www.urban.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%209.49.07%20AM.png" alt="">
A four bedroom home at <a href="https://www.realestate.com.au/property-house-tas-ulverstone-126017522" target="_blank">27 Heathcote Street Ulverstone</a> (below) is on the market for $329,000.
The two storey home sits on 718 m². 
<img src="https://www.urban.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%209.52.58%20AM.png" alt="">
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Renovations increasingly popular in Tasmania, but profits can be a struggle: HTW

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The residential property market in Sydney continues to surge, property valuation firm HTW recently noted.
It was being driven by lack of stock, record low interest rates, strong population growth, continued strong presence of overseas buyers, tax incentives, positive market sentiment/ speculation and re-invest using equity build up from previous years property market growth, according to the recent Herron Todd White report.
"Australians’ confidence in property as a good place to invest has reached a three year high according to a recent NAB survey,” the report noted.
Herron Todd White says that there was a lack of supply versus demand in Sydney which was driving prices up.
It noted the demand versus supply issue in Sydney was highlighted in the data provided by CoreLogic.
Sydney has a population in excess of 4.6 million but with total listings of around 20,636 properties, only slightly greater than Brisbane at 19,043 listings but less than Perth at 21,377 listings and a population of near 1.9 million.
As a comparison, Melbourne with a more comparable population of 4.2 million has a total of around 28,305 properties listed for sale.
"We consider that the lack of supply is the main driver in the escalation of prices in the greater Sydney market.
"The Sydney prestige property market, generally considered to be properties above $3 million, has continued its strong performance into 2017.
"Factors which have been driving the prestige market include a limited supply of quality stock coming on to the market and a sustained period of high auction clearance rates in prestige suburbs.
"High net wealth (HNW) purchasers, both local and international, continue to be attracted to the Sydney market, with a recent Domain article quoting Lord Andrew Hay, global head of residential at Knight Frank, that globally “Sydney is in 11th position in terms of most desirable cities for HNWs to live and invest in”,” the report commented.
Nine Sydney suburbs have a median price of $3 million while foreign buyers will face increased stamp duty and land tax surcharges Herron Todd White says.
“As per CoreLogic data there are currently nine suburbs in Sydney with a median price in excess of $3 million being on both sides of the harbour within a short commuting distance of the CBD.
"Bellevue Hill in Sydney’s east has had a total of 70 dwelling sales in the past 12 months with a median price as at April 2017 of $4.777 million, a further indication of the strong demand levels for prestige property.
"Despite tighter rules around foreign buyers purchasing property in New South Wales and increased stamp duty and land tax surcharges on foreign purchasers, foreign investment into the prestige market remains strong, particularly from Asia.
"Further regulatory or taxation changes, either here or in Asia, would be the most likely cause for the prestige market to slow in the near future,” the report advised.
Herron Todd White comments that with the property market running hot in recent years, some Sydney homes are earning more than their owners with the price of a house increasing by more money each day than most workers earn in a week.
"The CoreLogic data reveals house values in Clovelly (eastern suburbs) had the largest daily gains over the past year at $1,931 per day, followed by Manly (lower north shore) at $1,808 per day.
"Worryingly though, growth in wages has not kept pace with house price increases which have seen borrowers continuously tapping into the equity in their homes or investment properties to further use towards additional investment properties,” the report warned.
New developments in many of the areas are also driving prices up Herron Todd White says.
“Throughout greater Sydney another factor that has been driving the market is government infrastructure spending.
"The suburb of Frenchs Forest in the northern beaches region has been a strong performer over the past few years thanks in part to the construction of the much anticipated Northern Beaches Hospital and surrounding infrastructure.
"This investment in the area has driven up demand for housing with strong sales occurring.
"The median value for dwellings in this suburb is currently $1.515 million.
"In March 2014 it was $966,500 representing approximately 60% growth (source: Corelogic).
"Suburbs along the under construction North West rail link have outperformed surrounding suburbs over the past few years mostly due to this substantial investment.
"Suburbs such as Cherrybrook, Castle Hill and out to Rouse Hill have all benefited from the higher level of demand from purchasers looking to be located near solid transport hubs.
"This is shown by Cherrybrook’s change in median price of 88% over the past five years to be currently sitting at $1.43 million,” the report commented.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cherrybrook-124986766" target="_blank">18 Woodcrest Place</a>, Cherrybrook (above) has been listed for between $1.25 million to $1.3 million.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cherrybrook-125306498" target="_blank">29 Beechwood Parade</a>, Cherrybrook (below) has been listed with a price guide of $1.35 million.
<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/2017/05/16/29%20Beechwood%20Parade.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-125270566" target="_blank">9 Acer Court</a>, Cherrybrook (below) was recently sold for $1.49 million.
<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/2017/05/16/9%20Acer%20Court.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-125390126" target="_blank">16 Elderberry Place</a>, Cherrybrook (below) was recently sold for $1.43 million.
<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/2017/05/16/16%20Elderberry%20Place.jpg" alt="">
“For units, suburbs such as Mosman and Cremorne on Sydney’s lower north shore have remained strong for a number of years.
"Local agents have identified a sweet spot for 2-bedroom units of between $900,000 and $1.2 million.
"This will get you a larger, older style unit appealing to a wider market segment. This price bracket is well suited to a professional couple wanting a low maintenance unit within close proximity of the city.
"In addition this sweet spot is in line with the borrowing capabilities of a professional couple.
"In the western suburbs of Sydney we have seen strong interest in house and land packages in brand new estates.
"We note land in Austral starts from $360,000 and a 3-bedroom house and land package from $615,000.
"Although situated some 55 kilometres south-west of the CBD, this once semi-rural location is popular with young families wanting detached housing and a yard as well as future growth prospects and the low entry point compared to the average price of over $1 million,” the report stated.
Herron Todd White says that the Sydney property market is significantly outperforming every other localities, which could be the result of traditional factors.
“The Sydney property market has been significantly outperforming the rest of the Australian economy over recent years which we believe implies that it has not been affected by many traditional factors which restrict strong economic growth.
"It is difficult to say what it will take for the Sydney market to change course however many believe that it is nearing its peak of the cycle from an affordability point of view.
"A rise in interest rates of course would have a significant effect on the market however a rise in the official cash rate has not been hinted at by the RBA and it is assumed that this would only rise once the economy appears to be strengthening with inflation reaching targets.
"If interest rates did rise however, this would put a lot of pressure on highly geared investors and mortgagors.
"With rates of household debt at record levels, this could have a substantial effect on the property market.
"According to a recent RBA publication on household finances, average debts are now 89% greater than incomes, up from 67% four years ago.
"An anonymous survey by investment bank UBS revealed that 28% of people surveyed said their mortgage application was not totally factually accurate.
"This is another worrying sign that people are pushing the boundaries to get a foot on the property ladder and even a small increase in interest rates could severely affect the ability of these homeowners to keep up with mortgage repayments.
"Aside from interest rates, another factor which could force the market out of its current growth cycle extends to overseas buyers.
"Sydney continues to attract high levels of foreign investment with foreign buyers, mainly Chinese, making up 25% of all purchases of new dwellings in New South Wales over the past year according to a report by Credit Suisse.
"Any changes to regulations in China or in Australia which would restrict this wave of investment would surely have an influence on the Sydney market in particular,” the report commented.
Media plays a strong part in Sydney property markets Herron Todd White says.
“Many believe the media to have a very strong influence on the Sydney property market in general.
"This was shown at the end of 2015 and beginning of 2016 where a wave of negative media reports appeared to stunt the market for a short period of time.
"When potential property purchasers start believing there is a bubble, they will put off purchasing.
"This hit to the demand side would mean those who need to sell may have to do so at a discount.
"When the buying public starts to see properties selling at a discount then it strengthens the belief that the market has peaked or the bubble has burst.
"It is believed therefore that with any potential negative factor to hit the housing market, the media also has the power to exacerbate any consequences,” the report commented.
It is possible to curb Sydney’s heated market by initiating various ideas according to Herron Todd White.
“New South Wales government policy changes or changes to regulations on a state or national level also have the power to curb the heated market.
"Within the federal budget to be released on 9 May, plans are being drawn up to announce measures to tackle housing affordability. It is believed that these will mainly tackle the supply side of the market rather than the demand with the likes of new land releases etc.
"However any future changes to tax incentives such as negative gearing would have more influence on the market.
"Rental yields in Sydney are considered low however investor lending remains relatively high.
"If changes to negative gearing were put in place then housing as an investment in Sydney could suddenly look less attractive to a portion of the market.
"This would have an impact on the demand side of the market as investor lending is currently considered too strong.
"The issue here however is that any changes to federal taxation rules will also affect under performing areas outside of the strong markets in Sydney and Melbourne and that may influence the federal government’s decision.
"Policies in other countries show that it is possible to make changes that will have a considerable effect on housing markets.
"Policies currently trialed in Australia have so far failed to cool the Sydney market.
"These policies include an anti-tipping duty of 12% when property in Singapore is sold after less than one year; Hong Kong has a 30% transaction tax for foreign buyers and taxes on Taiwanese property sales can reach as high as 45%.
"In 2016, changes were made in Auckland which included a requirement of a 40% deposit from investors which appears to have slowed the also booming market.
"An increase in property taxes in British Columbia in 2016 also halted the runaway property market in Vancouver which was also heavily influenced by overseas buyers.
"Obviously all changes described are more severe than those implemented in the Australian markets such as the APRA restrictions on investment loans and tax surcharges on foreign buyers, which have so far been to no avail,” the report stated.
However Herron Todd White says that there are also other factors that could affect the property.
“Other factors with the ability to affect the Sydney property market include a stock market crash, major economic downturn or a significant decrease in projected population growth in the city.
"The risk of any of these currently looks relatively low,” the report advised.
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Lack of supply the main Sydney property market price driver: HTW

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The middle to outer eastern Melbourne suburbs are becoming unaffordable, according to Herron Todd White’s latest July report.
The property data firm says that there are some areas where $500,000 can get you a two bedroom apartment or unit.
“Within the middle to outer eastern suburbs, $500,000 will not enable purchase of a dwelling, however there are some areas where 2-bedroom units or apartments are affordable.
“In Boronia the median unit sale price in March 2017 was $496,944 (RP Data) which is expected to achieve a rental return of $333 per week reflecting a yield of approximately 3.48%.
“Similarly, the median unit sale price in Bayswater in March 2017 was $467,000 (RP Data) which is expected to achieve a rental return of $330 per week reflecting a yield of approximately 3.67%.
“If buyers desire to be closer to the Melbourne CBD, apartments provide a more affordable option in suburbs such as Mitcham, Forest Hill and Blackburn.
“For example, <a href="https://www.realestate.com.au/sold/property-apartment-vic-blackburn-124547918">410/394-398 Middleborough Road</a>, Blackburn sold on 27 April 2017 for $492,000.
“It last sold in 2013 for $528,000.
“The apartment comprises 2-bedrooms, 2-bathrooms and two basement car parking spaces.
“If the market keeps firming, soon buyers with a budget of $500,000 might be priced out of the 2-bedroom unit or apartment market, however 1-bedroom apartments would still provide an alternative.
“Last year, 2-bedroom dwellings were under $500,000 in Boronia and Mooroolbark, however currently the median price for a 2-bedroom house in Boronia is $572,750 (realestate.com) and $526,000 in Mooroolbark (realestate.com), so buyers with a budget of $500,000 can no longer afford these properties.
“A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mooroolbark-125860598">17 Old Kent Street</a>, Mooroolbark (below) has been listed for between $550,000 to $590,000.
“Built in 1975 it last sold in 2015 for $400,000, in 2009 for $313,000, 2007 for $334,000 and in 2002 for $229,000,” the report stated.
<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/2017/07/11/17%20Old%20Kent%20Road.jpg" alt="">
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Middle to outer east Melbourne becoming unaffordable for sub-$500,000: HTW

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Adelaide remains the most affordable capital cities despite increasing median prices, according to Herron Todd White’s latest July report.
The property data firm says that properties are still available under $500,000.
“Whilst Adelaide remains the most affordable mainland capital city in Australia, the current median price of $432,000 (current as at 31 May 2017 according to Corelogic Hedonic Home Value Index) has increased from a median price of $410,400 (as at 30 April 2016).
“Although there are still countless properties available around $500,000, there is an increasing scarcity of detached dwellings in this price range within proximity of the CBD,” the report stated.
The market for older units and townhouses remains flat Herron Todd White advises.
“The market for older units and townhouses regardless of location remains relatively flat.
“We have focused on detached housing for investors.
“It is reasonable to expect detached housing at $500,000 or below within 20 kilometres of the city but as noted, the closer one moves towards the city, the more the quality and size of detached housing decreases at this price level.
“Demand for older units and townhouses in locations further from the city may begin to increase should prices for detached housing continue to increase,” the report advised.
New apartments in Adelaide’s CBD are attracting investors, Herron Todd White reports.
“There is an increasing supply of new apartments in the Adelaide CBD which are tending to attract investors.
“It is viewed as a more attractive option than older style inner city units and townhouses due to stamp duty rebates and potential tax reduction strategies.
“The market for properties in proximity of the CBD at this price level continues to be extremely buoyant,” the report commented.
Areas with increased in-fill development are finding driving demand from investors and developers Herron Todd White warns.
“In areas with increased in-fill development, investors and developers have been driving demand and competing with first home buyers attempting entry into the market.
“In an area such as Flinders Park situated six kilometres west of the CBD, buyers seeking properties for $500,000 a couple of years ago have now been priced out of the market as the market has improved in that area within a short period of time.
“The suburb is situated adjacent to the linear park and in between the city and the sea and has become an increasingly popular suburb as a result.
“Popular areas that offer properties around $500,000 include suburbs such as Pasadena, Hope Valley and Croydon Park.
“Pasadena is situated to the south of the Adelaide CBD and is well serviced by the popular Pasadena Foodland and shopping centre.
“Whilst sections of the suburb are undergoing some in-fill development, this suburb offers older style dwellings reasonably close to the city at an affordable price level.
“Hope Valley is situated further from the city, approximately 13 kilometres to the north-east.
“This suburb is well serviced by a number of shopping centres including Tea Tree Plaza and is also situated in proximity to the Tea Tree Plaza interchange which provides easy access to the Adelaide CBD via the O-Bahn busway.
“Croydon Park is situated to the north-west of the city adjacent to the popular suburbs of Croydon and West Croydon.
“It provides a more affordable alternative to these areas and is also adjacent the Torrens to Torrens roadway which is currently under construction.
“This will further improve access to the north and south of the city,” the report warned.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-sa-pasadena-124652922" target="_blank">76 Auricchio Avenue</a>, Pasadena (above) has been listed for between $595,000 to $650,000.
Similarly a two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-croydon+park-125793478" target="_blank">5/164 Croydon Avenue</a>, Croydon Park (below) has been listed for sale.
<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/2017/07/11/5_164%20Croydon%20Avenue.jpg" alt="">
Interest within the $500,000 to $800,000 are continuing Herron Todd White states.
“Real estate agents continue to report high levels of interest in the $500,000 to $800,000 price range within proximity of the city.
“Given decreasing supply of properties at this price level, demand will continue to be strong.
“Depending on location and general property features which tend to vary greatly, an expected rental yield for properties at this price level would be around 4% to 5%,” the report stated.
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Adelaide remains the most affordable despite increasing prices: HTW

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Many Tasmanian properties are available around the $500,000 range, according to Herron Todd White’s latest July report.
The property investment firm says that however this is more concentrated in the northern parts of Tasmania.
“Properties for sale with asking prices of around $500,000 in the greater Hobart region are less concentrated in particular suburbs relative to Northern Tasmania.
“Being a capital city with a significantly larger population, capital entry requirements tend to be higher, suburbs are spread over a larger geographic area and contain greater diversity of property types.
“Sandy Bay, Kingston and Lindisfarne are Hobart suburbs where the greatest number of sales have occurred within the half a million dollar price point.
“Sandy Bay has an air of exclusivity and is popular due to its position immediately south of the city with the Derwent River its southern border.
“Contained within the suburb are the University of Tasmania campus, casino, local shops and recreational facilities.
“Due to Sandy Bay’s exclusivity and nearness to the city, units are the predominant type of residential property that can be purchased within this price range although some smaller homes are still within reach.
“To purchase a house in Sandy Bay you would need capital reserves in excess of half a million dollars as approximately 20% of the suburb’s recent sales were in excess of $1 million with a top sale of $6.5 million.
“An example of what you could expect to purchase in Sandy Bay with a $500,000 budget is a 3-bedroom, 1-bathroom, circa 1990s, partially updated, 130 square metre villa with single lock up garage on the suburb’s periphery,” the report stated.
A two bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-tas-sandy+bay-125863146" target="_blank">6/4 Quayle Street</a>, Sandy Bay (above) has been listed for over $530,000.
Built in 1987 the property was last sold in 2014 for $395,000, in 2008 for $320,000 and in 2002 for $185,000.
Kingston is Tasmania’s fastest growing region according to Herron Todd White.
“Kingston is reported to be Tasmania’s fastest growing region and is a 25 minute commute to the city via the southern outlet.
“It is a self-contained satellite centre with major and local shopping centres, public and private schools and recreational facilities.
“Recent sales in Kingston indicate that purchasers with $500,000 to spend could expect to buy an older style home with a living area ranging from 120 to 160 square metres.
“If you can push the budget closer to $600,000 you could purchase a modern, 200 square metre home on a 900 square metre block,” the report commented.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-kingston-125813898" target="_blank">13 Greenhill Drive</a>, Kingston (below) has been listed for between $580,000 to $630,000.
Built in 2004 the block of land was last sold in 2003 for $55,500.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/13/13%20Greenhill%20Drive.jpg" alt="">
Herron Todd White advises that Lindisfarne properties with water views are available for half a million dollars.
“Meanwhile in Lindisfarne on Hobart’s eastern shore you could purchase a modern, 3-bedroom, 2-bathroom house, with double lock up garage and water views on a smaller, 460 square metre block.
“If you prefer privacy a slightly higher spend could secure you 1.5 hectares with an older style, renovated, 3-bedroom and 1-bathroom house.
“Lindisfarne residents have a 15 minute commute to the city via the Tasman Bridge,” the report advised.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-lindisfarne-125877038" target="_blank">11 Corinna Road</a>, Lindisfarne (below) with views has been listed for over $550,000.
Built in 1952 the property was last sold in 1995 for $96,000 and in 1988 for $82,000.
<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/2017/07/13/11%20Corrina%20Road.jpg" alt="">
North, central and inner city properties historically have the best value Herron Todd White comments.
“$500,000 in the north of Tasmania can buy you a significant residential property relative to other states in Australia.
“Historically in the north, centrally located or inner city property has best held its value.
“Recent sales data show that the greatest numbers of sales within the $500,000 price range have occurred in the suburbs of Grindelwald, Trevallyn, Newstead and Launceston,” the report commented.
Grindelwald attracts purchasers who prefer large homes Herron Todd White states.
“Grindelwald is a commuter suburb (approximately a 25 minute drive from downtown Launceston) developed around the theme of a Swiss village in the 1980s.
“Grindelwald is attractive to purchasers who prefer larger homes on larger parcels of land in a rural residential setting.
“Homes that have recently sold in Grindelwald range in size from 200 to 260 square metres of living area on parcels of land ranging between 800 and 2,600 square metres.
“The majority of these homes were built in the 1980s to 1990s and have achieved sale prices between $480,000 and $528,000,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-grindelwald-125909634">39 Atkinsons Road</a>, Grindelwald (below) has been listed for $545,000.
Built in 1992 it was last sold in 2016 for $445,000 and in 2005 for $395,000.
<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/2017/07/13/39%20Atkinsons%20Road.jpg" alt="">
Purchasers in Trevallyn are likely to have a property with a view Herron Todd White says.
“If you live in Trevallyn, it’s likely you prefer to have a view as Trevallyn sits on a hillside overlooking the Tamar River and borders the northern side of Cataract Gorge.
“Along with spectacular views come steeper blocks.
“Some properties while having larger block sizes have decreased functionality due to the block gradient and vehicular access may be more difficult.
“For around half a million dollars in Trevallyn, recent sales indicate that you could purchase an older style home (built from the 1970s to early 2000s), offering from 170 up to 300 square metres of living area on blocks ranging from 800 to 2,000 square metres.
“Sale prices for such homes have ranged from $403,000 to $510,000,” the report commented.
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-trevallyn-124346546">1 Gourlay Court</a>, Trevallyn (below) was sold in January 2017 for $530,000.
Built in 2004 it was last sold in 2012 for $485,000 and in 2002 for $42,000.
<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/2017/07/13/1%20Gourlay%20Court.jpg" alt="">
Newstead is popular due to its proximity to central Launceston Herron Todd White advises.
“Newstead is a popular family suburb due to its proximity to central Launceston and its range of services such as sporting facilities, shopping and restaurants.
“Homes within the $500,000 range in Newstead tend to be on its periphery where recent sales indicate you could purchase a modern home with 170 square meters of living area on just under 900 square meters of land.
“Alternatively for just over $300,000 you could purchase a smaller, 1940s built home that requires renovation, closer to town, with 110 square metres of living area and a block size just under 700 square metres.
“To purchase larger, established homes in north-west Newstead you would need a budget in excess of $500,000,” the report advised.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-tas-newstead-125678642">59A Cypress Street</a>, Newstead (below) has been listed for $320,000.
Built in 1990 the property was last sold in 2003 for $125,150.
<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/2017/07/13/59A%20Cypress%20Street.jpg" alt="">
Central Launceston properties can be purchased for around half a million but require renovations and are often set on steep locations Herron Todd White warns.
“For those wanting to be in Central Launceston residential homes can still be purchased for around $500,000 however such homes tend to be on the periphery, require renovation and are often in very steep locations.
“An example of such a home that sold recently for $450,000 is a terrace, located in one of Launceston’s steepest streets that has 206 square meters of living area over two floors that requires renovation and has car accommodation of a single carport situated on a 273 square metre block,” the report warned.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-launceston-125540398">143 Canning Street</a>, Launceston (below) has been listed for over $545,000.
<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/2017/07/13/143%20Canning%20Street.jpg" alt="">
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Choice aplenty in Tasmania for $500,000: HTW

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The Liverpool and Fairfield unit market have a healthy level of demand, according to Herron Todd White’s latest July report.
The property data firm says that units below $500,000 is available in those two areas.
“This time last year we mentioned the diminishing opportunities to enter the south-west property market within the sub $500,000 price point.
“That trend has certainly continued in this market segment and that price point is now ultimately reserved to units or vacant land within new subdivisions further from the central hubs of Liverpool and Fairfield.
“The Liverpool and Fairfield home unit market still offers plenty of stock available for under $500,000, although this is limited to older style, 1960s and 1970s low rise walk-up developments or new 1-bedroom units within modern or new high density developments.
“A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-warwick+farm-125309042" target="_blank">9/5 Drummond Street</a>, Warwick Farm (above) has been listed for $329,000.
“Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-liverpool-125088022" target="_blank">73/12-18 Bathurst Street</a>, Liverpool (below) has been listed for $410,000.
<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/2017/07/03/73_12-18%20Bathurst%20Street.jpg" alt="">
“There are newer style 2000s built 2-bedroom units available under $500,000 however these are mostly second tier high density developments and no longer benefit from the brand new condition which appeals to investors and tenants alike,” the report stated.
However opportunities to enter the sub $500,000 market are impossible due to land values Herron Todd White advises.
“Opportunities to enter the dwelling sub $500,000 market within these locations is basically non- existent given that land value generally exceeds this price point.
“This market benefits from higher than average rental yields which can be appealing to investors, however this is usually a trade-off with weaker capital growth compared to coastal regions such as St George and Sutherland Shire LGAs south of Sydney or locations closer to the Sydney CBD,” the report advised.
Units in Liverpool and Fairfield have a stable demand Herron Todd White comments.
“Liverpool and Fairfield unit markets are currently steady with a healthy level of demand.
“This demand is likely to continue into the future given that these locations are the central hub of the south-west region and are easily accessible via motorways and public transport and within close proximity of the future Western Sydney Airport at Badgerys Creek,” the report commented.
Herron Todd White warns, however, that the unit market is likely to face downward pressure in values due to increasing supply and market conditions.
“As with many regions of Sydney, the unit market is likely to face some downward pressure on values in the near future due to the increasing supply of similar stock and general market conditions, particularly given that this market is heavily investor driven.
“Apart from home units, the other residential asset type sub $500,000 is vacant land located within new suburbs of the South West Priority Growth Area.
“This includes new suburbs such as Edmondson Park on the fringe of Liverpool LGA and further out such as Harrington Park within Camden LGA. Land values are continuing to rise in these suburbs with many lots now in the $400,000 to $500,000 range (or higher) and are generally 300 to 500 square metres.
“Once a parcel is secured, a buyer would then be looking at approximately $300,000 or more to build a family home.
“Such locations are more than 60 kilometres from the Sydney CBD, however are likely to benefit from the growth of the Parramatta and Liverpool regions and the future airport at Badgerys Creek," the report warned.
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