Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

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Throughout 2016 Townsville’s retail market remained patchy, according to Herron Todd White’s recent report.
The property valuation firm says that the total transactions of all properties have equalled to $5 million.
"Quality properties with strong lease covenants transacted, several high profile neighbourhood shopping centres changed hands and a number of smaller showrooms, bulky goods centres and convenience centres also transacted at around the $5 million mark," the report commented.
This indicated a strong improvement for quality assets in regional areas at investment yields of circa 7%, demonstrating the yield disparity when compared with similar style assets in the southern metro markets.
"The year ahead for the retail sector is likely to remain patchy, with quality property with strong lease covenants continuing to attract interest.
However the balance of the market is likely to remain in a holding pattern at the bottom of the market cycle," the report warned.
The Cairns retail market passed through the bottom of the cycle during the course of 2014, but the limited recovery thus far means that the retail property market remains relatively flat.
"It must also be said that retail property sales in Cairns are extremely sporadic, with most sales involving retail property of mixed use retail and office buildings or tenant buyout of single premises.
High exposure CBD retail space remains reasonably well occupied, but vacancies are more noticeable in the lesser exposure locations and on the CBD fringe.
Rents have remained generally stable, showing ranges of $600 to $800 per square metre per annum for prime CBD space and $1,000 to $1,500 per square metre per annum in key tourist precincts such as the Cairns Esplanade," the report stated.
"Blue chip retail located within the main Esplanade tourist strip as well as the central business district shows reasonably low vacancies, although there is also limited demand from new businesses.
"There remains good investor demand for well leased properties which rarely come onto the market.
"Though the economic conditions in Cairns are likely to improve through buoyant tourism activity, little change is expected in retail market conditions during 2017."
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j.ballantyne1990-6AQqhLzZaK

Townsville retail market begins to improve while Cairns remains flat: HTW

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Despite the rising market and strong demand, parts of Sydney are still available to first time industrial property investors, according to valuation firm Herron Todd White’s May update on the industrial market.
In the western Sydney property landscape, the suburbs surrounding the CBDs of Liverpool (Chipping Norton, Prestons, Moorebank), Campbelltown (Minto, Ingleburn, Leumeah, Smeaton Grange and Narellan), Blacktown (including Kings Park) and Penrith (Kingswood, Jamisontown, South Penrith) offer affordable entry-level industrial properties, which appear to be picking up momentum in line with the urban sprawl, say HTW.
More specifically, in the south west region of Sydney the industrial markets appear to be experiencing buoyant conditions as the increase in population through large low-density residential land subdivisions (Middleton Grange, Edmondson Park, Leppington, Oran Park, Gregory Hills, Emerald Hills and Claymore) as well as the confirmation of the Badgerys Creek airport, amplify the need for jobs and further businesses in this locale. 
“An entry point industrial investment in one of these locales could expect to achieve a positive level of capital growth and sustained demand due to the permanency of the surrounding large scale infrastructure projects and developments,” says the HTW note.
However, as demand strengthens so will the purchasing competition reflecting further yield compression and premiums paid in order to secure these investments. 
“We consider that given the historically low interest rate environment which is likely to continue throughout 2017 and into 2018, the rental and capital value growth outlook for the entry level industrial market in metropolitan Sydney over the short to medium term is steady to strong, notwithstanding inevitable variances due to geographical factors related to access and connectivity to the wider Sydney metro area and beyond, infrastructure (both existing, proposed and under construction) and supply and demand factors.” 
In essence, the rental market is expected to be shored up by a lack of supply together with a relatively healthy industrial outlook over the coming months and years, assuming the cost of energy does not continue to spike which may result in a shift in industrial activity to cheaper local, national and international locations. 
Whilst it remains cost equivalent or even cost effective to buy and own your own industrial premises compared to the cost of renting, the market for entry level industrial property Sydney wide is set fair for a period yet. 
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jonathanchancellor-7SQnKwU6yx

Outlook strong for entry-level industrial market in Sydney: HTW

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The apartment market for Inner City Melbourne has started to soften in the first quarter of 2017, according to Herron Todd White’s latest report.
The property valuation firm says that most inner city suburb median unit prices have dropped in the last quarter.
“According to REIV reports, most inner city suburbs have seen drops in median unit prices since last quarter, with Docklands median unit prices falling by 2.3%, Southbank experiencing a 1.8% drop and South Yarra seeing a 0.7% decline.
“There is growing concern regarding the oversupply of inner city apartments which has been well documented by the media in addition to being recognised by the Reserve Bank of Australia who have issued warnings that current high levels of supply may constrain growth in prices and rents in some market segments.
“It is anticipated that the recent implementation of tighter lending policies on both foreign purchasers and investors will cause the apartment market to further soften in addition to increasing settlement risk for developers,” the report stated.
Herron Todd White says that the prestige market in Melbourne is still going strong.
“The current state of the prestige market is still strong.
“The demand for property is outweighing the supply of properties for sale.
“The most in-demand properties are those with large land holdings or properties that can be redeveloped or knocked down without any planning restrictions.
“Other key factors are the continuing low interest rate environment, proximity to the CBD and population growth,” the report advised.
Kew, Balwyn North and Malvern are among the top suburbs for prestige properties according to Herron Todd White.
“The strong prestige market is highlighted in suburbs such as Kew, Balwyn North and Malvern.
“As of March 2017, the median house prices for these suburbs were $2.165 million, $1.925 million and $3.01 million respectively, with a quarterly change of 11%, 11.2% and 24.6%.
<a href="https://www.propertyobserver.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%209.44.52%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/Screen%20Shot%202017-05-19%20at%209.44.52%20am.jpg" alt="">
“Highlighting the current state of the market, on the 25 February 2017, <a href="https://www.realestate.com.au/sold/property-house-vic-malvern-124595406" target="_blank">17 Spring Road</a>, Malvern (above) sold for $5.075 million.
“The auction lasted 60 seconds with a total of 17 bids. The reserve was $4.3 million.
“The key factors that could result in the prestige market slowing down are an increase in interest rates, a bearish equities market and overall loss of confidence in the market,” the report stated.
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South Yarra joins inner city Melbourne apartment market softening: HTW

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The Gippsland residential market price is strengthening, according to Herron Todd White’s latest May report.
The property valuation firm says that sale has recently been in the $700,000 to $1 million range.
“The Baw Baw, South Gippsland and Cardinia markets are strengthening.
“This includes cities and towns such as Warragul, Drouin, Nyora, Lang Lang and Koo Wee Rup.
“Regions such as Morwell and Heyfield have recently had negative press regarding the forthcoming closure of Hazelwood Power Station and Heyfield Timber Mill.
“It will be interesting to see how the market responds.
“Sale has recently had some higher end sales in the $700,000 to $1 million range with increased buyer interest in prestige properties,” the report stated.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-yarragon+south-125496718" target="_blank">168 Yarragon South Road</a>, Yarragon South (above) has been listed for $799,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-warragul-125366018" target="_blank">28 Fernery Boulevard</a>, Warragul (below) has been listed for $879,000.
<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/2017/05/19/28%20Fernery%20Boulevard.jpg" alt="">
Mildura’s housing market has seen modest growth according to Herron Todd White.
“Despite the housing market being active, very modest growth has been seen in housing prices over the past 18 months.
“Houses and units are selling after relatively short selling periods of usually less than 30 days and Mildura’s local economy appears to have strengthened over this period.
“Despite this, it seems there is not quite enough competition amongst buyers to see any significant capital gains.
“The missing ingredient seems to be population growth.
“The latest statistics indicate that Mildura’s population is growing at just under 1% per annum and while this is enough to maintain momentum, it is not flowing through to any substantial price growth,” the report commented.
Herron Todd White says that lifestyle factors influence the growth of the area.
“Employment and lifestyle factors are the things which will influence population growth outlook.
“On the employment front, there is ongoing optimism in key agricultural industries and this is likely to create opportunities in farm work, transport and logistics, agronomic services and some downstream processing.
“However growth in tourism, retail or mining would be needed to see the growth in jobs required to bring significant numbers of families to the region.
“What is clear is that Mildura has enough size and economic diversity to weather any economic downturns reasonably well,” the report advised.
Older residents are beginning to move to Mildura and that is expected to rise Herron Todd White says.
“The migration of older people from surrounding towns and regions choosing to retire to Mildura is expected to continue.
“For this sector, it is lifestyle and availability of medical services along with affordability of housing that will influence their choice.
“Mildura appears to stack up well in this regard,” the report advised.
A three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-mildura-125213478" target="_blank">3 Lakeview Court</a>, Mildura (below) was recently sold for $230,000.
<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/2017/05/19/3%20Lakeview%20Court.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-118748831" target="_blank">906 Fifteenth Street</a>, Mildura (below) was recently sold for $205,000.
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Gippsland and Mildura residential market grows stronger: HTW

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The Southern Highlands market continues to show strong price growth, according to Herron Todd White’s latest April report.
The property valuation firm says that the average price across the Wingecarribee Shire increased by 8% in the four months to date to $879,000.
“Of note is the brisk rate of sale in the up to $1.5 million sector, most notably located close to the townships of Bowral, Moss Vale and Mittagong,” the report stated.
Herron Todd White says that the market continues to benefit from the ripple effect predominantly by greater Sydney buyers looking for affordability and lifestyle.
“New land releases in the region have seen an influx of purchasers ranging from first home owners to executive home buyers at price points from $300,000 to $800,000 and land sizes from 450 to 8,000 square metres.
"What is also evident with the influx of new land releases is the pressure to upgrade transport infrastructure in the region, with calls for additional direct trains to Central Station, road upgrades and the larger infrastructure projects such as the Sydney to Melbourne Fast Train gaining momentum.
"Major projects to accommodate the growing area is occurring," the report commented.
Wilton Junction has been marked as a priority growth area with more residential development expected Herron Todd White says.
“With respect to accommodating additional residents in the region, the recent announcement by the NSW Department of Planning that Wilton Junction has been designated as a priority growth area has brought the reality of the new township to accommodate up to 16,500 dwellings across the 4,175 hectare site located off the M5 East Freeway a step closer.
"Other areas earmarked for residential development include Tahmoor and Appin.
"Closer in to the existing townships of Mittagong, Bowral and Moss Vale it is anticipated there will be limited releases of land predominantly restricted to resubdivision of appropriately zoned larger lots,” the report remarked.
"Being one of the regions to receive the NBN early has seen the emergence of commercial office developments in the past 12 months," the report stated.
The NBN is also helping the area with commercial office developments expected over the coming months.
“Being one of the regions in New South Wales to get early access to the NBN, there has been an emergence of commercial serviced office developments over the past 12 months, allowing for professional services personnel to have the flexibility of working locally and efficiently, an attractive alternative to the daily Sydney commute,” the report stated.
Herron Todd White says that there has been emerging chatter about the prospect of lenders further tightening lending criteria and increases in interest rates.
“This undoubtedly will have a cooling effect on the rate of sale in the marketplace, however we don’t foresee any major market adjustments in this case, with the exception of the rural and lifestyle acreage properties, predominantly located on the outskirts of the major towns,” the report observed.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-bundanoon-125468790" target="_blank">48 Erith Street</a>, Bundanoon (above) has been listed with a price guide of between $665,000 to $730,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-125238538" target="_blank">8 Holly Road</a>, Burradoo (below) has been listed with a price guide of between $1.45 million to $1.5 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/2017/05/15/8%20Holly%20Road.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-mittagong-123923866" target="_blank">3 Langley Avenue</a>, Mittagong (below) was recently sold for $660,000.
<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/2017/05/15/3%20Langley%20Avenue.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-berrima-125329010" target="_blank">19 Oldbury Street</a>, Berrima (below) was recently sold for $1.4 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/2017/05/15/19%20Oldbury%20Street.jpg" alt="">
The Southern Highlands residential property market was running hot, according to Herron Todd White’s December report.
The property valuation firm says that strong price increases and quick selling periods have been evident across the entire region.
The main driver is the trend of second and third home buyers and retirees relocating for a tree change from Sydney and for the affordability.
"The townships of Moss Vale, Bowral and Mittagong have been the stand out performers."
It noted fully renovated or new properties with nothing left to spend are sought after.
The strongest activity is under $1.5 million.
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-bowral-125033606" target="_blank">2/41 Shepherd Street</a>, Bowral (above) has been listed for between $900,000 to $990,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-124981530" target="_blank">602 Argyle Street</a>, Moss Vale (below) has been listed with a price guide of $899,000.
<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/2017/04/20/602%20Argyle%20Street.jpg" alt="">
HTW has noted that the fringe suburbs of Southern Highlands is also beginning to see strong activity
"There has been strong activity from first home buyers seeking affordable housing options across the fringe suburbs in the Southern Highlands, essentially the villages such as Robertson, Bundanoon, Colo Vale, Hill Top and Tahmoor that are removed from the three major towns of Bowral, Mittagong and Moss Vale."
Properties still sell under $700,000 in these perimeter suburbs.
"If interest rates were to dramatically rise, then pricing levels will decline.
"If interest rates remain at low levels, then we anticipate that pricing levels will plateau.
"There are similar trends evident in the Tablelands, with good land sales and new home construction activity in the new and modern residential estates on the fringe of Goulburn including the Belmore Estate, Merino Country Estate and the Mistful Park Estate," the report advised.
New land releases are trading for $200,000 to $250,000, with house and land packages ranging from $500,000 to $600,000.
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 Crookwell village is also seeing good buyer activity and price growth.
“We see strong buyer activity from first home buyers, second and third home buyers and retirees.
"We are also seeing strong interest from Sydney investors in Goulburn."
It noted part of the attraction here aside from lower entry price is ease of access to the Sydney-Canberra freeway.
Many buyers will commute to Goulburn, Canberra or back up to Moss Vale and Bowral, the report stated.
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Southern Highlands residential market growth remains strong: HTW

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The industrial market has been flat for several years and the effect has been a sporadic performance by the entry-level market at best, according to valuation firm Herron Todd White’s May update. 
The General Motors Holden (GMH) car manufacturer is set to shut the doors of its Elizabeth plant in October 2017, ending 60 years of construction in Australia. 
This decision by GMH following the federal government’s policy shift to no longer support the industry as well as the problems facing almost all forms of general manufacturing in South Australia are having flow-on effects through the broader economy. 
One positive has been the securing of defence construction contracts. After the completion of the Air Warfare Destroyer (AWD) construction contract, the Future Frigates programme will commence in 2020 with an estimated spend of circa $35 billion. 
Following this in 2022 is the Future Submarine project, comprising 12 submarines at a spend of circa $50 billion. The projects are expected to provide over 2,000 jobs. 
In addition, the South Australian government has significantly increased its expenditure on infrastructure projects, add HTW.
In 2015/16 the budget was $1.8 billion which has increased to $2.2 billion in 2017/18. 
The projects are: 
• Darlington Upgrade 
• Anzac Highway to Darlington 
• River Torrens to Anzac Highway 
• Regency Park to Torrens Road 
• South Road Expressway 
• Northern Connector 
The combined effect of the defence contracts and the infrastructure expenditure is going some way to soften the blow but the fallout to the South Australian economy has been harsh. 
Some analysts are reporting recovering demand for blue-chip investment assets with strong long-term lease covenants but this is not having an impact on entry-level demand. 
The demand within precincts such as Wingfield, Dry Creek and Cavan in the north and Edwardstown, St Marys, North Plympton and Lonsdale in the south is far more tied to locally based demand and supply issues. 
The low interest rate environment is making renting less attractive but the subdued market conditions coupled with low interest rates are making selling equally unattractive. Agents are reporting that owners are reluctant to sell due to the absence of alternative opportunities in a generally flat market. The result is low transaction numbers and few opportunities. 
The climate is tough for first time investors in the industrial arena. The opportunities are few and far between but the secret may lie in buildings that have flexible alternate use opportunities. 
“While you will have to accommodate conversion cost and heavily incentivised leasing arrangements in your pricing, the result may be revitalising an otherwise economically obsolete property,” says HTW.
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Holden closure, manufacturing slowdown hitting Adelaide economy: HTW 

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Activity in the rural scene over the past month in Mildura has finally seen the wine grape and table grape harvest in full swing after an abnormally late start to the picking season, according to Herron Todd White’s latest report.
The property data firm says that this will result in both harvests extending well into April.
The weather throughout recent weeks has been excellent for the grape harvest with warm conditions and no rain or storms.
“Reports filtering in advise that quality is high and above average yields are apparent for wine grapes, which on the back of slightly better prices this year is some welcome news for growers.
Growers are also reporting another good year in the table grape sector with prices remaining firm particularly for the better market preferred varieties,” the report stated.
The Bureau of Meteorology continue to forecast warm and dry conditions to remain throughout Autumn in the region.
“This is not overly good news for dryland cropping farmers who are looking to the skies for an early autumn break.
"The forecast late break will result in a larger area of land being dry sown throughout April and early May, with reports that some farmers have already commenced this practice,” the report warned.
HTW says that investment in rural regions are outstripping supply.
“Following on from previous editions, the ongoing interest and demand in the agricultural sector from international and domestic corporate entities investing in the Sunraysia region appears to be resulting in current demand outstripping supply.
"Prices being paid for good quality properties continue to firm with reports of a number of significant transactions in recent weeks of table grape, citrus and also an aggregation of dryland cropping land being negotiated, all at strong levels,” the report stated.
A horticultural wine grape rural property at <a href="https://www.realestate.com.au/property-horticulture-vic-red+cliffs-7885558" target="_blank">490 Lowan Avenue</a>, Red Cliffs (above) has been listed for between $310,000 to $350,000.
Similarly 23 acres of agricultural land at <a href="https://www.realestate.com.au/property-other-vic-yelta-7738223" target="_blank">637 Wentworth Road</a>, Yelta (below) has been listed for $220,000.
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Mildura wine property bringing in high to average yields: HTW

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The Gold Coast sits at the peak of the market on the unit property clock, according to Herron Todd White’s latest report.
The property valuation firm says there are also five other locations at their peak.
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%201.30.35%20pm.jpg" target="_blank">Click to enlarge</a>
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Sydney is a rising once again.
Meanwhile Melbourne, Coffs Harbour and the Gold Coast remain at their peak.
Last month Property Observer reported on Sydney joining Melbourne at the peak of the housing market.
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The Gold Coast new apartment market recorded 255 unconditional sales in the March 2017 quarter, according to the latest research by property consultants Urbis.
It was a decline on the previous quarter’s sales,  Urbis Senior Consultant Lynda Campbell noted.
She added the Gold Coast apartment market was no longer centred on beach front locations.
“Coastal Fringe suburbs such as Robina, Varsity Lakes, Ashmore and Benowa offer buyers easy access to transport and amenity including shopping centres, university, hospitals – all within easy reach of the beaches the Gold Coast is famous for. On top of that, the lower price point makes this precinct very attractive for both investors and owner occupiers.”
The Gold Coast weighted average sale price across the four precincts decreased by $21,752 from the previous quarter, registering $632,171 – however annually a price increase of 5.9 per cent was recorded.
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“The Coastal Fringe Precinct recorded the lowest weighted average sale price at $473,165, highlighting its affordability and boosting sales in the area,” Ms Campbell said.
For the fifth time in two years the Coastal Fringe Precinct has been the highest performer.
In the March 2017 quarter, 113 sales were recorded in the Coastal Fringe Precinct – this is 44 per cent of total sales.
As well as a move away from the traditionally beach front located high rise precincts, this quarter saw medium rise projects dominate, with medium rise sales out-performing high rise sales by 25 per cent. Sixty-two per cent of medium rise projects are in the Coastal Fringe Precinct.
Only 1,373 apartments remain available for sale at the end of March 2017, which equates to one year’s supply at the current annual sales rate.
“The Gold Coast apartment market is maintaining a good balance of supply and demand,” Ms Campbell said.
“In the March 2017 quarter, four new projects were launched and four projects sold out.”
Once again, two-bedroom apartments dominated the market, making up 74 per cent of total sales, she noted.
The proportion of three-bedroom-plus product dropped to 13 per cent of total sales – equalling one-bedroom product sales.
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Gold Coast apartment market peaking: May HTW Clock

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The Lismore region has seen an increase in sale prices over the past six month, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that there is a lack of good quality stock with high demand.
Agents are reporting well-presented houses being sold within days, sometimes hours, of hitting the market.
The top end of the market ($450,000 plus) is considered hot.
“We are seeing evidence of increases of up to 15% on houses that have resold within 12 months,” the report stated.
“Four-bedroom, two-bathroom brick and tile houses built after 2010 are proving to be very popular.”
The majority of purchasers are families looking to upsize or get into a home of their own.
The other popular dwelling is the classic, older 1900 to 1940s renovated property, however the renovation needs to be modern and opulent while staying true to the original design.
This is a hard combination to pull off, but when done right the market will pay handsomely, HTW advises.
The report said there were two sales last year in Girards Hill that managed to get the right mix of modern and classic and were sold for $740,000 and $750,000, while traditionally this area achieves $300,000 to $375,000.
The level of demand and lack of available stock is pushing prices up with premiums being paid to secure a property.
This is not considered sustainable over the long term.
“We caution that if there were to be an increase in stock or changes in the economic climate, the higher end of the market would be impacted more dramatically than the lower end,” the report warned.
With the pressure on the higher end of the market we are seeing good demand for lower end (sub $300,000), fixer upper, older style properties with good bones that can be readily updated to be flipped or kept as a first home.
This is proving popular with the younger demographic as an affordable way to enter the market.
Since the beginning of 2017, both Casino and Kyogle enjoyed an improving trend of potential buyer enquiries.
The type of buyer comprises a mixture of first home buyers, investors and existing home owners.
However what is interesting to note is that there has been an increase in non local interest, i.e. people moving into the area where it has been mentioned that the local area (Kyogle and Richmond Valley Council area) is considerably more affordable than other areas within the Northern Rivers.
Predominantly, the properties of interest within Casino and Kyogle are houses in the $200,000 to $300,000 price bracket and modern, well presented, rural residential estate properties on a typical one to five acres around the $400,000 to $600,000 price mark.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-casino-125155786" target="_blank">2 Cascade Drive</a>, Casino (above) has been listed for $269,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-kyogle-125068454" target="_blank">21 Caddie Avenue</a>, Kyogle (below) has been listed for $329,000.
<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/2017/04/20/21%20Caddie%20Avenue.jpg" alt="">
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Lismore property prices on the rise: HTW

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There are no suburbs that are at the peak of the market for the office market, according to Herron Todd White’s latest report.
The property valuation firm says that this shows that there has been no change in the office market since last month.
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%201.20.28%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/03/Screen%20Shot%202017-05-03%20at%201.20.28%20pm.jpg" alt="">
Melbourne and Coffs Harbour continues to be approaching the peak of its market with Adelaide, Darwin, South East NSW, Townsville and Wide Bay at the bottom of the market.
Meanwhile Alice Springs, Gippsland, Newcastle and Toowoomba’s office market is starting to decline.
Last month Property Observer reported on the office market and that several suburbs are on the way to the top.
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