<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<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;

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

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The current residential market within the outer east of Melbourne is very strong and rising, according to Herron Todd White’s latest May report.
The property valuation firm says that Nunawading, Mitcham, Glen Waverley, Ringwood and Mount Waverley are among the strongest suburbs for the residential market.
“In particular the strong market is evident in suburbs such as Nunawading, Mitcham, Glen Waverley and Mount Waverley.
“Within the outer eastern suburbs the market is also strong in Ringwood, Ringwood East and Croydon.
"Within both areas family homes of 3- to 4-bedrooms are in high demand.
“The rising prices are caused by the lack of supply and high demand with buyers looking for more affordable family housing,” the report stated.
High demand in suburbs such as Mount Waverley and Glen Waverley are driving the prices up according to Herron Todd White.
“The high demand has also caused the market to continue to rise in price.
“At this point in time we do not forecast the market to decline as the demand is too strong.
“However, if a major change in the economic climate was to occur it is possible the market would decrease."
HTW gave an example of the rising prices within the outer eastern suburbs as the sale at 30 Caroline Street, Ringwood. (above)
It sold on the 4 March 2017 for $950,000.
The last sale of the property occurred in December 2013 for $572,500.
“This sale illustrates the high price increase that has occurred within the past four years,” the report advised.
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j.ballantyne1990-6AQqhLzZaK

Outer East Melbourne residential market strong and rising: HTW

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The Southern Tablelands residential market continues to remain at a consistent pace, according to Herron Todd White’s April report.
The property valuation firm says that the average price remaining at as a result of new land releases coming onto the market year to date.
“New land releases are trading for $220,000 to $250,000, with house and land packages ranging from $500,000 to $550,000.
"Likewise some of the villages between Sutton Forest and Goulburn, such as Marulan have seen an uptick in first home owner activity, with new land releases being quickly absorbed by the market in the $160,000 to $190,000 range for 1,000 square metre blocks,” the report stated.
Herron Todd White says that part of the attraction here aside from lower entry price is ease of access to freeway.
“As with the Southern Highlands market, the only real slowdown foreseen in the market would be as a result of a lender change in credit policy or increases in interest rates,” the report commented.
A 1450 sqm residential land at <a href="https://www.realestate.com.au/property-residential+land-nsw-marulan-201719394" target="_blank">41 Patrick Place</a>, Marulan (above) has been listed for $170,000.
Similarly a 1000 to 1450 sqm residential land at <a href="https://www.realestate.com.au/sold/property-residential+land-nsw-marulan-201758350" target="_blank">50 Patrick Place</a>, Marulan (below) was sold in March this year for $160,000.
<img src="https://www.urban.com.au/images/2017/05/23/Screen%20Shot%202017-05-23%20at%201.02.19%20PM.png" alt="">
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Southern Tablelands residential land sees increase in first home buyer activity

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The local residential market in Bundaberg is stable, which is a term frequently used to describe the area, according to Herron Todd White’s latest May report.
The property valuation firm says that sales volumes have slowed slightly with median values dropping slightly by around 5 percent.
“The median vacant land price is $150,000 for the postcode.
“The median house and unit prices are $295,000 and $225,000 respectively for the last quarter.
“Affordability is the big draw card to the area along with the proximity to the southern end of the Great Barrier Reef and the relaxed lifestyle.
“The key to getting the market to move upwards is attracting more people to the area with flights to other major centres apart from just Brisbane.
“This would then attract more investment and that would require more infrastructure spending.
“Another way would be for the government to include existing property in the First Home Owner’s Grant which would also stimulate the economy,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-norville-125255794" target="_blank">57 Mimnagh Street</a>, Norville (above) has been listed for $229,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+west-124161154" target="_blank">8 Adams Street</a>, Bundaberg West (below) has been listed for $235,000.
<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/2017/05/19/8%20Adams%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-burnett+heads-120435465" target="_blank">4 Scott Street</a>, Burnett Heads (below) was recently sold for $235,000.
<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/2017/05/19/4%20Scott%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-bundaberg+south-125182738" target="_blank">17 Hargreaves Street</a>, Bundaberg South (below) was recently sold for $223,000.
<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/2017/05/19/17%20Hargreaves%20Street.jpg" alt="">
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Bundaberg residential market stable: HTW

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Coastal areas continue to be the most in demand locations in Ballina and Byron Bay, according to Herron Todd White’s latest report.
However, the property valuation firm says locations which have traditionally been less sought after remain strong, with prospective buyers operating in a heated market prepared to overlook negative attributes.
“With significant increases in values over the past 24 months any increase in stock or reduction in demand will likely see a reduction in value,” the report stated.
“The increases in value would not appear to be sustainable.”
Mullumbimby appears to be the most desired location at present, while demand for lower priced units in the Ballina area is strong, whilst the $1 million plus market in coastal areas such as Lennox Head and East Ballina continues to perform well.
The report advised the demand in Mullumbimby was being fuelled by interstate buyers looking to find alternatives to the more expensive resort towns of Brunswick Heads and Byron Bay.
“The average house price point for the particular suburb of Mullumbimby ranges between $750,000 and $1 million,” the report advised.
“The product at this price point is varied between either an older style dwelling or newer product.
“The older dwellings comprise single level houses built about the 1950s located in the flat part of Mullumbimby close to the local township,”
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-mullumbimby-124897086" target="_blank">2 Palm Avenue</a>, Mullumbimby (above) has been listed for $989,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-mullumbimby-122164038" target="_blank">871 Main Arm Road</a>, Mullumbimby (below) has been listed for $845,000.
 <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/2017/04/20/871%20Main%20Arm%20Road.jpg" alt="">
 “If interest rates remain low and the demand for these particular houses remains high, the current sustainability of these houses to the market place will remain unchanged,” the report said.
 “People tend to be paying a significant premium for a renovated or revamped classic product in this suburb.
“There is both opportunity for renovation in Mullumbimby and for purchase of properties that have already had renovations done.”
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Mullumbimby in demand with interstate buyers: HTW

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The Gladstone residential market is beginning to drift to the bottom of the property cycle, according to Herron Todd White’s latest May report.
The property valuation firm says that the main driver for this area at the moment is affordability.
“The market appears to be drifting along the bottom of the property cycle at present.
“The key driver at the moment is affordability.
“Value levels for all property types are the lowest they have been in over a decade and this has resulted in significantly increased activity.
“In the past, Gladstone’s property market has always been driven by major industrial projects in the area, resulting in demand or lack thereof for accommodation for workers.
“While there have been a few possibilities of new projects thrown into the ring over the past several months, nothing has been set in stone,” the report stated.
Herron Todd White says that the last few months have seen a shortage of good quality residential stock in the area.
“The market has seen a changing of the guard in the past few months with increased confidence surrounding the economy and jobs.
“Much of the activity in the last few months has been in the bottom price sectors of the market which has now led to a shortage of good quality stock.
“Signs the market is beginning to move forward include decreasing vacancy rates and decreasing days on the market.
“Because of this increased demand we may start to see a slight uplift in values in the coming months.
“The market should continue to improve on the back of increasing business confidence and more job opportunities,” the report commented.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-gladstone+central-125324346" target="_blank">95 Central Lane</a>, Gladstone Central (above) has been listed for $289,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-calliope-124945218" target="_blank">7 Trudy Avenue</a>, Calliope (below) has been listed for $275,000.
<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/2017/05/19/7%20Trudy%20Avenue.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-barney+point-119213067" target="_blank">1/47 O’Connell Street</a>, Barney Point (below) was recently sold for $136,000.
<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/2017/05/19/1_47%20OConnell%20Street.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-beecher-124130078" target="_blank">1 Monaros Court</a>, Beecher (below) was recently sold in April for $554,000.
<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/2017/05/19/1%20Monaros%20Court.jpg" alt="">
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Gladstone residential market drifts at the bottom of property price cycle: HTW

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There is a possibility that Newcastle’s residential market might cool down soon, according to Herron Todd White’s recent report.
The property valuation firm says that various factors need to be considered that could potentially end the boom.
“The Newcastle market has been hot for a considerable period of time.
"There are any number of factors that could derail the present state, however the most likely would be the boring and just plain vanilla buyer fatigue.
"This happens at the back end of every boom.
"The market gets so hot that buyers panic.
"The overriding emotion is one of fear - fear of missing out or fear of being left behind.
"Buyers start doing crazy things in order to secure their properties such as putting ridiculous offers in before auction in an attempt to stop it from getting to an open bidding frenzy at auction time.
"That can only last so long though.
"There always comes a point when the market collectively says “You know what? We are done, we can’t take it anymore, we are just going to sit this one out”.
"When that point occurs, and it always does, the market returns to a sense of normalcy.
"Agents have to work that bit harder to achieve a sale.
"Vendors can’t sit back as smugly and causally sift through offer after offer and hand select the best,” the report stated.
Interest rates, coal prices and unemployment could contribute to a stalling market Herron Todd White says.
“The usual macro-economic factors are always in play when it comes to the Hunter housing market.
"Interest rates, coal prices and unemployment rates are always near the top of any list of what may stall a market.
"What happens there is anyone’s guess but changes in any of these metrics will always have a strong impact on the local market.
"As an example, when interest rates increase this correlates almost overnight to fewer valuations being undertaken in the immediate aftermath of a change.
"This doesn’t necessarily impact prices but it does impact the number of homes being sold and transacted.
"The number of homes being sold directly relates to one half of the crucial demand versus supply equation,” the report commented.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-wallsend-125475438" target="_blank">18 Courtney Close</a>, Wallsend (above) has been listed with a price guide of between $435,000 to $455,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-merewether-125475382" target="_blank">180 Morgan Street</a>, Mereweather (below) has been listed with a price guide of $890,000.
<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/2017/05/16/180%20Morgan%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-maryville-125320994" target="_blank">75 Northumberland Street</a>, Maryville (below) was recently sold for $890,000.
<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/2017/05/16/75%20Northumberland%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamilton-125317538" target="_blank">172 Denison Street</a>, Hamilton (below) was recently sold for $1.2 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/2017/05/16/172%20Denison%20Street.jpg" alt="">
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Newcastle's residential market boom might cool down: HTW

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The outlook for retail markets in Brisbane continues to be generally positive, according to Herron Todd White’s latest report.
The property valuation firm says that however there is now an increasing perception that yields may finally have reached a low point.
“To put the story of recent years into perspective, we have seen retail yields generally move by between 150 and 200 basis points, which based on a starting yield of say 8 percent, translates to capital growth of upwards of 25 percent over a three year period.
 In some instances, capital growth has been upward of 35 percent,” the report stated.
Sales activity has been moderate for the quarter.
Major transactions include Arana Hills Kmart at $67 million, Everton Plaza at $27.5 million and Caboolture Square at $27.5 million.
These showed yields of between 6 percent and 7.25 percent.
At the convenience end of the spectrum there has been less activity with only two centres selling under $10 million.
Both of these were in the North Lakes region and showed yields of between 6.5 percent and 7 percent, the report stated.
Overall, the volume of sales activity has generally been low, primarily as a result of a shortage of stock and lack of other strong yielding investment options.
“With the perception however that yields will be bottoming out, we anticipate a rise in investment sales activity, particularly if interest rates start to rise and there is any suggestion of capital values starting to fall,” the report predicted.
Retail rentals continue to be reasonably restrained with ongoing difficult trading conditions in many sectors putting the brakes on rental growth.
The weakness is evident across the board as high levels of competition, flat wages, internet retailing and changing consumer shopping patterns all contribute to a very tough retail environment.
Good buying opportunities in the market are limited at present as all reasonable assets are heavily scrutinised by a wide number of investors.
There is potentially some more opportunity to value add with secondary centres but even these are holding their value fairly well making owners reluctant to sell.
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Brisbane's retail market outlook remains positive: HTW

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The retail segment in Darwin in 2017 will experience its greatest shake up for many years when not one but two new regional shopping centres will open their doors for business, according to Herron Todd White’s latest report.
The property valuation firm says that Gateway is located on the highway on the fringe of Palmerston CBD, 18 kilometres south-east of Darwin.
This is a joint venture project between the Coombes Property Group (with local connections) and Challenger, being constructed by Hutchinsons.
It will offer a Woolworths, Big W, cinema complex and over 100 specialties and is expected to open mid-year.
Also expected to open mid-year is Coolalinga Village, located in the Darwin rural area 25 kilometres south-east of Darwin on the opposite side of the track from a large Woolworths-based complex.
Coolalinga Village is being developed by Gwelo, a long-standing Darwin developer and will be anchored by Coles and K-Mart.
There is already a fast food outlet and a service station on the site, but the main development will accommodate additional specialties with further stages already planned.
“We will therefore move from a situation where Darwin’s main growth corridor to the south-east has been under serviced by retail for many years to a situation where Palmerston and rural area residents will be spoilt for choice.
Not only will these two major centres be an option, but also new smaller centres at Bakewell, Rosebery, Bellamack and Zuccoli which are already trading or, in the case of Zuccoli, will be trading soon.
When you add to this the existing Palmerston Shopping Centre and Oasis Shopping Centre, the options are quite wide,” the report stated.
The effects on the rental market for retail space remain to be seen but the increased competitive tension between all these centres does result in some choices for tenants which have not always been available in the past.
"This may place some downward pressure on rents however if each centre can attract sufficient patronage this may not be the case," the report warned.
Certainly there will be some effect on Casuarina, which is currently Darwin’s dominant retail precinct.
"Casuarina is disadvantaged by its location in the northern suburbs which is close to the hospital and university but somewhat removed from the south-east urban growth corridor.
Casuarina is already re-inventing itself as a destination rather than just a mall retailer, with a new restaurant and entertainment precinct," the report advised.
At present, anecdotal evidence is pointing to population decline across Darwin and unless a major employment driver emerges soon, then this population decline will inevitably result in reduced trading for all retailers and difficulties for each centre attracting sufficient patronage.
“We are seeing weakness across all property segments in Darwin at the moment and the challenge will be to ensure sufficient population growth to ensure the viability of all these new outlets as well as existing facilities,” the report stated.
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Darwin's retail market to get a boost due to new retail developments

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Sydney’s retail market has grown substantially over the past 12 months, according to a recent Herron Todd White report.
The property valuation firms says that the retail market in Sydney has seen substantial growth over the past 12 months as a result of increased demand for good investment assets, growth in rental income and generally lower vacancy rates.
The next 12 months look set to follow a similar trend. Increased demand from investors will continue to drive the market.
Properties with established retail tenants will be popular this year.
“Late in 2016 we saw some strong sales which showed tight capitalisation rates for assets with strong lease covenants, including some with sub 5% capitalisation rates in the Sydney CBD,” the report stated.
The demand for CBD assets remains strong as the buzz around infrastructure improvements continues.
Generally rents look likely to remain stable this year, HTW noted although an increase in prime locations was evident in 2016 with a strong probability of this continuing in 2017.
"Recent media coverage of failing fashion retail chains may have some impact on demand from tenants.
"However food and beverage outlets seem to be going strong in most locations, with demand for these types of retail properties likely to continue.
"Suburban retail assets with good lease covenants have also seen growth over the past 12 months.
"This is likely to continue as investors look for strong performing assets with future growth potential."
Strip retail with a history of good retail trade such as King Street, Newtown; Darling Street, Balmain; and Crown Street, Surry Hills have all seen an increase in sales activity which looks set to continue in an upward trend in 2017.
Looking ahead, the outlook for retail in Sydney overall remains positive for 2017, HTW added.
“We expect prime locations to continue to perform well along with properties perceived to have growth or redevelopment opportunities in the future.
"That said we are of the opinion that the market is reaching the peak of the cycle and any tightening of monetary policy or increase in the cost of debt will result in the prevailing investment yields not being sustainable.
"For the time being though, all signs are that 2017 will be a good year for retail assets,” the report stated.
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Sydney retail market rises while rents remain steady: HTW

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Echuca's residential market continues to remain strong with tight supply, according to Herron Todd White’s (HTW) May report.
The property valuation firm says that the lack of supply is likely to be temporarily alleviated due to additional supply in both Moama and Echuca.
“The local market continues to be relatively strong with generally tight supply on account of limited residential land supply in the past 12 to 18 months, although this is likely to be alleviated in the short term by additional supply in both Moama and more particularly Echuca,” the report said.
“Average pricing has pushed up in recent times with good demand and limited supply in the $350,000 to $450,000 bracket resulting in an upward shift in demand for properties priced in excess of $400,000 for mortgage belt type properties.
“Melbourne buyers continue to underpin the higher end of the market with several off river sales in excess of $800,000, particularly in Moama for custom built and well finished properties.
“The buoyant agricultural sector has also been a positive for the local economy.
“A slow down in the market in Melbourne or closure of a significant factory would likely affect the higher market segments and mortgage belt segments respectively, although there is likely to be significant cushioning from any metropolitan softening because the local market has not charged ahead at the same rate, with local prices more likely to plateau.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-124713066" target="_blank">244 Farley Road</a>, Echuca (above) has been listed for $435,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-125472554" target="_blank">11 Charlton Court</a>, Echuca (below) has been listed for $445,000.
<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/2017/05/19/11%20Charlton%20Court.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-echuca-124328474" target="_blank">135 Stawell Street</a>, Echuca (below) was recently sold for $422,500.
<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/2017/05/19/135%20Stawell%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-echuca-125123286" target="_blank">204 High Street</a>, Echuca (below) was recently sold for $376,000.
<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/2017/05/19/204%20High%20Street.jpg" alt="">
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