<p>New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.</p>

<p>It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.</p>

<p>With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.</p>

<p>The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.</p>

<p>Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.</p>

<p>"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.</p>

<p>"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=953]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.</p>

<p>Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.</p>

<p>That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.</p>

<p>Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.</p>

<p>"The Lennox is where aspirational living becomes attainable," Hamblett said.</p>

<p>"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."</p>

<p>Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.</p>

<p>"At The Lennox, lifestyle is not an afterthought, it is the foundation."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=5374]</p>

<p>The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.</p>

<p>Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.</p>

<p>That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.</p>

<p>"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


Joel Robinson

The apartment price gap drawing Sydney buyers west

<p>A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.</p>

<p>The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.</p>

<p>The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.</p>

<p>The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.</p>

<p>Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.</p>

<p>"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.</p>

<p>"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."</p>

<p><img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" /></p>

<p>Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.</p>

<p>Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.</p>

<p>Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.</p>

<p>"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.</p>

<p>"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."</p>

<p>Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.</p>

<p>Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.</p>


Rainbow Bay apartment doubles in price since off the plan sale during pandemic

<p data-end="315" data-start="85">The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.</p>

<p data-end="499" data-start="317">The project, to be known as <strong data-end="376" data-start="345">Capella Residences Brisbane</strong>, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.</p>

<p data-end="899" data-start="501">The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.</p>

<p data-end="1154" data-start="901">The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.</p>

<p data-end="1387" data-start="1156">The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.</p>

<p data-end="1387" data-start="1156"><img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" /></p>

<p data-end="1611" data-start="1389">Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.</p>

<p data-end="1823" data-start="1613">Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.</p>

<p data-end="2042" data-start="1825">The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.</p>

<p data-end="2177" data-start="2044">The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.</p>

<p data-end="2420" data-start="2179">The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.</p>

<p data-end="2724" data-start="2422">"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.</p>

<p data-end="2858" data-start="2726">"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."</p>

<p data-end="3130" data-start="2860">Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.</p>

<p data-end="3415" data-start="3132">"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.</p>

<p data-end="3658" data-start="3417">"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."</p>

<p data-end="3820" data-start="3660">Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.</p>

<p data-end="3961" data-start="3822">"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.</p>

<p data-end="4083" data-start="3963">"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."</p>

<p data-end="4227" data-start="4085">Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.</p>


Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

<p>Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.</p>

<p>The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.</p>

<p><img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" /></p>

<p><a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.</p>

<p>"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.</p>

<p>"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.</p>

<p>"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."</p>

<p><img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" /></p>

<p>Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.</p>

<p>The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.</p>

<p>"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.</p>

<p>"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."</p>

<p>Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.</p>

<p>"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.</p>

<p>"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."</p>

<p>Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=113271]</p>


Lewis Land targets first home buyers at latest Harbour Shores release, Solis

<p>Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a></p>

<p>The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.</p>

<p>The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.</p>

<p>The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.</p>

<p>[smartcode_project:default project_id=108800 project_image_fid=370093]</p>

<p>Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.</p>

<p>"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.</p>

<p>"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."</p>

<p>Brown says the&nbsp;response to Park Residences following completion has been particularly strong.</p>

<p>"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.</p>

<p>"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."</p>

<p>[smartcode_project:default project_id=114246 project_image_fid=370116]</p>

<p>Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.</p>

<p>"Today's buyers are incredibly discerning," Tack said.</p>

<p>"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.</p>

<p>"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."</p>

<p>The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.</p>


KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

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<div>The Sunraysia property market has continued to show strong sale volumes and prices despite the COVID-19 pandemic, <span>according to<span> </span></span><span>the November report from valuation firm Herron Todd White</span><span>.</span>
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<span class="markqjav4a2n5" data-markjs="true" data-ogac="" data-ogab="" data-ogsc="" data-ogsb="">HTW</span> found that the majority of sales continue to be properties around the median sale price of $315,000 with very few listings over $750,000 being offered to the market.</div>
<div> </div>
<div>Although house prices have continued to steadily rise, sales over $750,000 are infrequent in the local market, however with rising building costs and an expectation that interest rates will remain low, <span class="markqjav4a2n5" data-markjs="true" data-ogac="" data-ogab="" data-ogsc="" data-ogsb="">HTW</span> anticipate that sales over this price point will become more common.</div>
<div><span> </span></div>
<div><span>"The majority of residential sales over $1 million involve properties that have direct frontage to the New South Wales side of the Murray River in the townships of Gol Gol and Buronga, with only the occasional sale on the Victorian side of the border reaching these levels," according to Jake Garraway a <span class="markqjav4a2n5" data-markjs="true" data-ogac="" data-ogab="" data-ogsc="" data-ogsb="">HTW</span> Residential Valuation Manager.</span></div>
<div><span> </span></div>
<div><span>"A sign of the currently strong demand is the sale last month of 73 Billabong Road, Nichols Point, which achieved a sale price of $1.345 million at auction, the highest sale price within the region on the Victorian side of the border since the sale of 10 Wingillie Street, Mildura for $1.5 million in 2015."</span></div>
<div><span> </span></div>
<div><span>"Although heavily influenced by the property’s proximity to the river, with only a narrow strip of Crown land separating it from the Murray River, the sale of 73 Billiabong Road, Nichols Point indicates that buyers are still willing to spend in this high end of the market," Mr Garraway concluded.</span></div>
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j.ballantyne1990-6AQqhLzZaK

Mildura prestige market showed strong results despite COVID-19: HTW

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<p>Geelong has managed not to enter into the new restrictions currently being enforced across Melbourne which has required all hospitality to once again shut up shop and everyone to stay at home unless they’re heading to an essential service, according to the August Herron Todd White (HTW) residential report. </p>
<p>The valuation firm presented an 'investor playbook' of real estate performance within each service area.</p>
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<p><span>It’s unknown whether or not Geelong will also have to re-introduce these restrictions as Victorian cases soar higher by the hundreds every day, the report notes. </span></p>
<p><span>"Once again, the level of uncertainty we are currently facing is extremely high and it has caused many to take a more conservative approach to the property market over the past few months, holding off on making any investment purchase," the valuation firm said. </span></p>
<p><span>On a positive note, as Geelong has not slipped back into harsher COVID-19 restrictions, the economy continues to rebuild and this can only rub off positively on the property market. </span></p>
<p><span>After months of waiting, many may now launch into that investment purchase they have been holding off on from prior months.</span></p>
<p><span>Geelong remains a seriously sought-after region as it continues to expand in just about every facet with affordability compared to Melbourne being the number one driving force. </span></p>
<p><span>"You can most definitely get much more bang for your buck sifting through Geelong’s property market compared to Melbourne’s and this is highly attractive to many possible investors such as first home buyers or those looking to upgrade or upsize their current home. </span></p>
<p><span>"It’s a very active region for all types of investors and for good reason," the valuation firm said. </span></p>
<p><span>A renovated four bedroom house in Belmont has recently been sold for $912,500. </span></p>
<p>The home at<a href="https://www.realestate.com.au/sold/property-house-vic-belmont-134284594" target="_blank"> 8 Downshire Road</a> (pictured below) comprises four bedrooms, two living zones and self contained bungalow. </p>
<p><span>The property was last sold for $470,000 in 2013. </span></p>
<p><span><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/2020/9/28/belmont.jpg" alt=""></span></p>
<p> </p>
<p>A current listing a Geelong two bedroom apartment with views across Corio Bay. </p>
<p>The north-facing apartment at <a href="https://www.realestate.com.au/property-apartment-vic-geelong-133509942" target="_blank">1402/18 Cavendish Street </a>(pictured below) has been listed with $829,900 hopes. </p>
<p>It comes with living room with double glazed windows, kitchen with dishwasher and single car space plus lockable storage area.</p>
<p><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/2020/9/28/geelong%201.jpg" alt=""></p>
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Geelong remains sought-after among investors: HTW residential 

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<p><span>The investor market in Mount Gambier is currently strong with a mix of both local and out of town investors, according to the August Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at investor markets across the nation. </span></p>
<p><span>The report suggests properties in Mount Gambier are generally cheaper compared to say Adelaide or Melbourne. Paired with low interest rates and returns of approximately six to seven per cent, there is a much better return for property.</span></p>
<p><span>"After speaking with local agents, it is clear that the market in Mount Gambier has not slowed due to the effects of Coronavirus and while it was expected that rental prices would drop due to the increasing supply of short term rentals being listed as long term rentals, this has not deterred investors," the valuation firm said. </span></p>
<p><span>Houses have been hitting the market </span>and some are receiving offers within 48 hours, often at the asking price or higher, with many going to the highest and best offer.</p>
<p>Investors are generally after houses that present well and are low maintenance, within the price range of $200,000 to $350,000. The return for anything above this will likely not be as strong, the report noted. </p>
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<p><span>The government’s incentive to build has definitely spurred the market, with over 20 land sales in the popular Springview Drive division within the past couple of weeks, however this hasn’t been a huge benefit to investors as they cannot simply build and rent these houses out straight away on completion of the build.</span></p>
<p><span>"Within the Mount Gambier region, typical investors tend to invest in a mixture of units and detached houses, which are likely to be in the $150,000 to $250,000 price range.</span></p>
<p><span>"For depreciation benefits they also invest in new houses, ranging from $250,000 to $350,000," the valuation firm said. </span></p>
<p><span>A division popular with investors in Mount Gambier is the O’Leary Road division . An example of a recent sale within the division is below. </span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-133040070" target="_blank">3/20 O'Leary Road</a> (pictured below) is a small three-bedroom, one-bathroom dwelling with a single garage under the main roof, on an allotment of approximately 450 square metres. This property previously achieved a rental of $340 per week or a gross yield of 6.8 per cent.</p>
<p> <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/2020/9/7/mount%20gambier%201.jpg" alt=""></p>
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<p><span>In recent years the South Australian Housing Trust has also been selling off their unwanted Commission housing.</span></p>
<p><span> Typically these are older stone dwellings constructed in the 1950s </span>and 1960s offering three bedrooms, lounge, bathroom and laundry area. These Commission homes are typically good value and show a good return.</p>
<p>A semi-detached three-bedroom duplex at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-132470002" target="_blank">13 Schinkel Street </a>(pictured below) can be purchased for $100,000 to $130,000, with an achievable rental for these dwellings being around $190 to $200 per week.</p>
<p>This provides a gross yield of approximately ten per cent. The capital growth would not necessarily be good, and the quality of tenant may also be an issue, but the return is pretty competitive.</p>
<p>The property below sold for $109,000 and achieves a rental of $195 per week. This is a yield of 9.3 per cent.</p>
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<p><span>"It is expected that the investment market will remain strong within Mount Gambier for quite some time. </span></p>
<p><span>"With low interest rates, it is more beneficial for an investor to invest in property and achieve a good return for good value, rather than keep their money in the bank." </span></p>
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Mount Gambier investor market remains strong: HTW residential 

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<p><span>The residential investment market is currently in uncharted territory with the Corona-virus pandemic hitting many households, according to the August Herron Todd White (HTW) residential report. </span></p>
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<p><span>The valuation firm took a look at investor activities across the nation.</span></p>
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<p><span>The report notes whilst state and federal government initiatives have helped keep some calm in the market, there is a lot of speculation from property professionals that the longer this pandemic goes for the more stress there will be on both tenants paying their rent and investors paying their mortgages. </span></p>
<p><span>As a result this potentially could see an array of properties hitting the market within a short period of time which could put downward pressure on property prices.</span></p>
<p><span>"However, at the time of writing, Western Sydney has experienced a lower impact from COVID-19 in comparison to other areas of Sydney such as the inner suburbs which have a higher apportionment of renters and unit supply," the valuation firm said. </span></p>
<p><span>In the greater west, a popular investment option comes in the form of a house and granny flat which can provide a second rental stream and depending on the location, potential for longer term capital growth.</span></p>
<p>An example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-colyton-133173686" target="_blank">1 Kipling Drive, Colyton</a> (pictured below), located nearby to St Mary’s which is set to be a major transport intersection linking the existing<br>rail line to the Western Sydney Aerotropolis at Badgerys Creek.</p>
<p><span>The property is a partially updated 3 bedrooms, 1 bathroom on 632 sqm of land. Detached at the rear is a 2 bedroom, 1 bathroom, self-contained granny flat.</span></p>
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<p><span>The property sold in May for $659,000, with a combined rental potential of $700 per week, calculating to a gross rental return of around 5.5%.</span></p>
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<p><span>As seen in other parts of the city, new units can quite often sell below the previous purchase ‘off the plan’, even after several years, the report noted. </span></p>
<p>An example of this is <a href="https://www.realestate.com.au/sold/property-apartment-nsw-penrith-133083770" target="_blank">725/1-39 Lord Sheffield Circuit, Penrith</a> (pictured below), a two-bedroom, two-bathroom unit which sold off the plan in February 2017 for $584,000 however re-sold in March 2020 for $505,000. The off the plan purchase was unable to be supported even in 2017.</p>
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<p><span>The investor market across the South Western Sydney suburbs, in particular the Liverpool LGA, is generally very active as it offers a range of investment opportunities across a variety of asset classes, the report suggested. </span></p>
<p><span>"The rental market is very competitive which has seen rentals stagnate and in some areas fall," the valuation firm said. </span></p>
<p><span>The capital growth in property that has historically driven investor interest is no longer prevalent with some asset classes’ showing a decrease in value from the peaks of the 2016 and 2017 period.</span></p>
<p><span>Currently on realestate.com.au there are approximately 99, modern two-bedroom two- bathroom units available and approximately 160, three-to-four bedroom homes available for rent within the Liverpool LGA.</span></p>
<p><span>"The entry level of the investment market is driven by affordability and low risk. This is where you typically find your Mr and Mrs Citizen well represented as they are looking to park their savings into the property market rather than in a low interest bank account," the valuation firm said. </span></p>
<p><span>Popular investment opportunities for this market are modern units in the sub-$600,000 range, a single house in one of the modern estates in the </span>sub-$750,000 range, or a house and granny flat set-up. All three property types achieve reasonably safe returns and can come with some tax benefits as well, the report noted. </p>
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<p><span>Notwithstanding the below examples, duplex pairs and small unit blocks provide additional investment opportunities however they require a larger capital outlay.</span></p>
<p><span>A two-bedroom, two-bathroom unit in 12-14 George Street Liverpool sold in March for $460,000, with an assessed gross yearly rental of $20,650, representing a 4.5% yield. </span></p>
<p><span>However the previous sale in March 2016 was for $519,000, meaning an 11% decrease in value over four years.</span> </p>
<p><span>A modern four-bedroom, two-bathroom house in a new estate in Edmondson Park sold in April for $730,000, with an assessed gross yearly rental<br>of $26,400, representing a 3.6% yield. </span></p>
<p><span>"Whilst the rental return is not as strong as a unit may be, this type of property traditionally will show superior capital growth," the valuation firm said. </span></p>
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<p><span>A recent sale of a house and granny flat in Lurnea in June for $835,000, would likely achieve a gross combined annual rental of $38,400, representing a 4.6% yield.</span></p>
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<p><span>Moving away from your traditional investment classes, the rezoning of land in the South West, particularly in designated Growth Corridors and the Aerotropolis Precinct has seen property prices skyrocket. </span></p>
<p><span>For the broader residential market you have most likely missed the boat, but for those lucky enough to have owned land prior to any hint of rezoning taking place, developers are paying well above what could have ever been imagined for these traditionally rural areas. </span></p>
<p><span>Nowadays these areas are occupied by developers and established land bankers, the report noted. </span></p>
<p><span>A recent sale of a one-hectare site in Austral, sold in April for $2.625 million. </span>The previous sale of this property was back in 2014 for $1.855 million, a 41 per cent increase in six years.</p>
<p><span>Another property in Bringelly sold in May for $2.3 million. The previous sale was back in 2015 for $1.15 million, a 100 per cent increase in five years.</span></p>
<p><span>"Western Sydney is currently considered the best place for returns, given the varied properties to invest in. </span>We believe a well located house and granny flat provides a great option for their higher yields and depending on the location, future development potential given the land component.</p>
<p><span>"In other parts of Sydney, investors can look to play the long game and bear the short term loss of rents, for the ability to secure a property at a discount, and also take advantage of current low interest rates. There is value across all levels with strong medium to long term capital growth opportunities," the valuation firm said. </span></p>
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Western Sydney sees a lower impact from COVID-19: HTW residential 

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<p>COVID in the Clarence Valley is not having much impact as auctions, borders have been opened up allowing people to travel to the Valley more easily, according to the August Herron Todd White (HTW) residential report. </p>
<p>The valuation firm presented an 'investor playbook' of real estate performance within each service area this month. </p>
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<p><span>The report suggests investors see the Clarence Valley as a safe haven from a downturn in the market due to broader economic conditions. </span></p>
<p><span>"Cashed up buyers are spending above $1 million on canal or Yamba Hill properties to be used as holiday homes or as longer term rentals.</span></p>
<p><span>"Investors also are seeking rural residential properties to get out of the city life due to the Coronavirus impact in the cities restricting movement of people," the valuation firm said. </span></p>
<p><span>Investors are mainly from the Gold Coast/ Brisbane and Sydney areas.</span></p>
<p><span>The Valley is typically cheaper than Ballina to the north and Coffs Harbour to the south. The Clarence also is benefitting from Government spending on a M1 Motorway upgrade and a new large Jail in the region, the report noted. </span></p>
<p><span> In Grafton, rental return net is expected to be around five per cent although in Yamba on the coast capital gain recently has been and strong 6.1 per cent per annum (realestate. com). Agents are reporting a lack of stock and good buyer enquiry.</span></p>
<p><span>"In the future the Clarence Valley will benefit from the M1 Motorway joining Ballina to Coffs Harbour reducing travel time also to the Gold Coast and Brisbane to two hours approximately and the new Jail creating jobs.</span></p>
<p><span>"However, the risk is the broader </span>economy in Australia and the world with a rise of these threats," the valuation firm said. </p>
<p>First home buyers are able to apply for discounted mortgage rates, stamp duty rebates, and renovation/construction incentives which may help fuel this part of the market in the near future.</p>
<p>A three bedroom house on a 2,203sqm block in Grafton has recently been sold for $420,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-nsw-grafton-134050634" target="_blank">39 Breimba Street </a>home (pictured below) comes with three bedrooms, separate lounge, large kitchen and enclosed veranda. </p>
<p>The property was last sold in 2017 for $315,000.</p>
<p><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/2020/9/14/grafton%201.jpg" alt=""></p>
<p>A current listing is a South Grafton cottage priced at $279,000.</p>
<p>The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/property-house-nsw-south+grafton-134164010" target="_blank">9 Gillett Street</a> (pictured below). </p>
<p>Set on a 555sqm block, the house features open plan kitchen/living area, timber back deck, swimming pool and lock up garage. </p>
<p><span>A rental return of $350 - $360 is estimated for this property in the current rental market, according to Elders Grafton property management team. </span></p>
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Clarence Valley - a safe haven from a downturn in the market: HTW residential 

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<p>The Newcastle and Hunter region property market has continued to hold steady through the ongoing pandemic, according to the August Herron Todd White (HTW) residential report. </p>
<p>The valuation firm presented an 'investor playbook' of real estate performance. </p>
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<p><span>Whilst buyer uncertainty has not stopped investors purchasing property, the volume of quality properties on the market has not fully recovered but it’s on its way, the report noted. </span></p>
<p><span>"Property prices in Newcastle and Lake Macquarie rose ever so slightly in the last three month period even with the region shedding 24,000 jobs," the valuation firm said. </span></p>
<p><span>Agents have noted that investors from outside of the region are showing interest in purchasing investments. With the pandemic and with people still working from home, investors looking for a sea change have Newcastle and regional properties under the microscope.</span></p>
<p><span>Property experts are predicting there could be market movement later in the year which we will be monitoring for future discussion.</span></p>
<p><span>"The good news is that properties in the areas are still selling even though there is less stock on the market. </span></p>
<p><span>"The overall volumes are quietly increasing as we get further into the back half of the year. Areas around Lake Macquarie and Maitland areas are still popular for investors looking to buy land and build property," the </span>valuation firm said. </p>
<p><span> Vacant blocks of land are still selling for similar prices before Covid 19 hit earlier this year, the report noted. </span></p>
<p><span>The suburb of Eraring in Lake Macquarie saw the sale of one of the largest waterfront properties available.</span></p>
<p>The property at <a href="https://www.realestate.com.au/sold/property-house-nsw-eraring-132448006" target="_blank">17B Payten Street </a>(pictured below) was sold for an undisclosed amount which is believed to be around the $4 million mark which would be a suburb record and also one of the highest in the Lake Macquarie region.</p>
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<p>In the Port Stephens region north of Newcastle a property overlooking Dutchies Beach at <a href="https://www.realestate.com.au/sold/property-house-nsw-nelson+bay-132935906" target="_blank">2 Gloucester Street, Nelson Bay</a> (pictured below) recently sold for a record $3.195 Million which is the highest price paid in the Nelson Bay area for a residential property, the report noted. </p>
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Newcastle property market continues to hold steady: HTW

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<p>As Covid-19 travel restrictions have eased, property sellers and real estate agents in Byron Bay have heaved a collective sigh of relief, according to the August Herron Todd White (HTW) residential report. </p>
<p>The valuation firm presented an 'investor playbook' of real estate performance within each service area this month. </p>
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<p><span>"Property sales have kicked upward over the last month in the Byron Shire as intrastate and interstate travel brought non-local buyers back into the fold. But in the blink of an eye, we are faced with border closures on the Murray River and hot spots in Sydney restraining the market once more," the valuation firm said. </span></p>
<p><span>It is truly a fluid situation and one that will develop further as rates of Covid-19 infections wax and wane, the report noted. </span></p>
<p><span>The COVID-19 issue is of particular relevance to the Byron Shire market as many of the transactions that occur are for investment purposes with many of those investors originating from Sydney, Melbourne and Brisbane with a smattering of buyers from overseas. </span></p>
<p><span>The absence of these buyers from the market because of coronavirus has caused much angst to sellers. </span></p>
<p><span>"In turn, some absentee investors have resorted to purchasing properties sight unseen in what must be an indication of </span>their strong desire to invest in the Byron Bay area. Maybe it’s a bit of FOMO?" the valuation firm said. </p>
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<p><span>There are some locally-based investors active in the area as well. </span></p>
<p><span>There is very little new land being released in the Byron Shire but with a growing population there’s increasing pressure on housing affordability, particularly for first home buyers, and with a large portion of the population unable to afford a unit or house (see last month’s topic “lazy $700,000”) and a steady turnover of short- to-medium stay holiday makers utilising AirBnb style properties, there is consistent, if not strong, demand for rental accommodation.</span></p>
<p><span>Because of the high buy-in prices of property in the area, investors are looking to maximise returns by utilising the holiday market or by purchasing properties with multiple letting opportunities such as dual occupancy properties, the report noted. </span></p>
<p><span>A three bedroom house in Mullumbimby with possibility for dual occupancy development has been sold for $857,000.</span></p>
<p>Set on a 854sqm block, the home at <a href="https://www.realestate.com.au/sold/property-house-nsw-mullumbimby-133587634" target="_blank">8 Myokum Street</a> (pictured below) is only two blocks from Mullumbimby town centre. </p>
<p><span>It comprises three bedrooms, open plan lounge and dining, and huge backyard. </span></p>
<p><span><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/2020/9/14/mullumbimby.jpg" alt=""></span></p>
<p><span>Yields for investors in the area can appear to be relatively modest. For example, a one-bedroom unit in a new development on the northwest fringe of Byron<br>Bay recently sold for $610,000 and was leased for 12 months at $550 per week, or $28,600 per annum, gross income.</span></p>
<p><span>That reflects a gross yield of 4.68 per cent. Costs such as rates, body corporate fees, management fees and incidentals will eat away at that before the buyer has to meet their mortgage payments.</span></p>
<p><span>A one bedroom loft apartment in Byron Bay has been listed for rent with a price guide of $570 per week.</span></p>
<p>The <a href="https://www.realestate.com.au/property-unit-nsw-byron+bay-430095174" target="_blank">39 Easy Street</a> top floor home (pictured below) comes with one bedroom with built-in, mordent bathroom, kitchen and private balcony. </p>
<p><span>It is situated within close proximity to cafes, restaurants and the beach. </span></p>
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<p><span>The relatively modest return is a reflection of the popularity of the area, the report noted. </span></p>
<p><span>"In the more central and beachside locations of Byron Bay, yields are firmer still. It’s a good thing we still have negative gearing, right?</span></p>
<p><span>"Many of those absentee buyers are not, however, investing for the rental returns alone. The properties they buy are seen by many investors </span>as a future retirement destination or as a holiday home, so rental return is but one facet of some investor’s decision process," the valuation firm said. </p>
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Yields in beachside Byron Bay remain firm: HTW

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<p><span>Investor activity in Warrnambool is currently strong and is forecast to stay strong into the long term, according to the August Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at investor activity across the nation. </span></p>
<p><span>"Having been crowned Australia’s most liveable region by Ipsos’s annual </span><span>Life in Metropolitan and Regional Australia </span><span>report and offering affordable entry into the investment space, especially when compared to other major regional centres, Warrnambool has great prospects moving forward," the valuation firm said. </span></p>
<p><span>Warrnambool provides a bevy of potential investment opportunities, the report suggests. </span></p>
<p><span>Opportunities range from large scale land subdivisions, city infill, renovate and flip, short stay accommodation as well as the relatively affordable new land and house depreciation path. </span></p>
<p><span>"While larger scale development and investment remains dominated by out of town money, the overall investment landscape is still in favour of the local," the valuation firm said. </span></p>
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<p><span>Most recently, Warrnambool has seen a strong investment drive for the acquisition of larger allotments vacant or featuring older, low quality dwellings, the report suggests. </span></p>
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<p>A prime example of this is the centrally located <a href="https://www.realestate.com.au/sold/property-house-vic-warrnambool-132326478" target="_blank">53E Lava Street, Warrnambool</a> (pictured above).</p>
<p><span>It was sold for $442,500 on 13 December 2019. </span></p>
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<p><span>Set on approximately 888 square metres and comprising two titles, this property also featured an older, conite clad, two-bedroom dwelling providing a very basic standard of accommodation.</span></p>
<p><span>Also representative of this demand is 212 Merri Street, Warrnambool ($400,000 on 18 May 2020). </span></p>
<p><span>This property is situated opposite the Warrnambool train station and features a two-bedroom dwelling of average condition set on an allotment of approximately 1,541 square metres.</span></p>
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Warrnambool investor activity to stay strong: HTW residential 

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<p>The unit markets in the northern areas of New South Wales are starting to rise, according to valuation firm Herron Todd White's latest National Property Clock.</p>
<p>The Ballina and Byron Bay area, as well as Lismore and Coffs Harbour (pictured above), are starting to see their unit market rise.</p>
<p>Ballina and Byron, as well as Lismore, had been approaching the bottom of the market last month, but have seen a quick turn around.</p>
<p>Coffs Harbour had been at the bottom of the market in August.</p>
<p>To enlarge, click here.</p>
<p><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/2020/9/10/HTW%20Sept%20Property%20Clock.jpg" alt=""></p>
<p>Closer to Sydney and Newcastle units joined Sydney as a declining market.</p>
<p>Melbourne's units were also categorized as a declining market.</p>
<p>Broome's unit market has bottomed, while South West WA has started its recovery.</p>
<p>Tasmania regions continue to go from strength to strength, with Burnie and Devenport, as well as Launceston, joining Hobart at the peak of the market.</p>
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Northern NSW unit markets rising: HTW National Property Clock

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<p>Melbourne has joined Sydney as a declining housing market, according to the latest national property clock from valuation firm Herron Todd White.</p>
<p>Last month HTW had Melbourne houses starting to decline, with Sydney already deemed a declining market.</p>
<p>There was worse news to come from Sydney's Central Coast, whose housing market last month was at the bottom of the market.</p>
<p>Now HTW believe there's still further to go for the region, now joining Sydney, Melbourne, Brisbane and Ipswich as a declining market.</p>
<p>Good news for Sydney's other popular weekender hotspot, the Southern Highlands, whose housing market is starting to rise.</p>
<p>To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/9/9/HTW%20house%20clock%20September.jpg" target="_blank">click here</a>.</p>
<p><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/2020/9/9/HTW%20house%20clock%20September.jpg" alt=""></p>
<p>Hobart continued to look strong, with houses at the peak of the market. Launceston and the Burnie/Devenport area too joined in the good times.</p>
<p>The housing markets in Darwin, Broome and Bundaberg are at the bottom, joining Alice Springs and the Southern Tablelands.</p>
<p>With COVID-19 impacting real estate markets nationally, and even globally, valuers at Herron Todd White are asking “Will Spring spring in 2020?”</p>
<p>"Spring has always been considered an excellent time to sell, particularly if you have a detached dwelling with a garden; the blooming plants and warmer climate make an attractive prospect for buyers", Herron Todd White's monthly report advises.</p>
<p>"With the effects of COVID-19 still playing out, we feel that properties that offer landscaped gardens and study rooms will further attract keen buyers as people continue to spend more time at home, either working or relaxing."</p>
<p> </p>
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