<p data-end="256" data-start="0"><a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.</p>

<p data-end="446" data-start="258">The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.</p>

<p><img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.</p>

<p>The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.</p>

<p>The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”</p>

<p data-end="626" data-start="350">Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.</p>

<p data-end="928" data-start="628">“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”</p>

<p data-end="1147" data-start="930">Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.</p>

<p data-end="1510" data-start="1149">“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”</p>

<p data-end="1510" data-start="1149"><img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" /></p>

<p>&nbsp;</p>

<p>The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.</p>

<p>Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.</p>
</section>


Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

<p style="text-align:start">The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;</p>

<p>The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.</p>

<p>The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p>The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.</p>

<p>As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.</p>

<p><img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" /></p>

<p>The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.</p>

<p>Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.</p>

<p>“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.</p>

<p>“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;</p>

<p>Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.</p>

<p>“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.</p>

<p>“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”</p>


Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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<p><span>2019 saw an easing in market values following the effects of the royal commission into the banking sector, however the central west and western Gold Coast market is set to improve in 2020, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The March report notes a number of real estate agents in the local area have stated that confidence has returned since the result of the last federal election.</span></p>
<p><span>The central west and western Gold Coast region provides first-home buyers and investors with entry options in areas such as Highland Park, Nerang, Pacific Pines, Maudsland, Upper Coomera and Oxenford.</span></p>
<p><span>A Nerang three </span>bedroom house was sold for $530,000 in February. </p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-nerang-132912762" target="_blank">17 Ealing Crescent</a> (pictured below), the home comprises open plan living, kitchen, 3 bedrooms and flat back yard.</p>
<p>Other features include air conditioning, landscaped gardens and council approved shed. </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/2020/3/2/nerang%20.jpg" alt=""></p>
<p> </p>
<p><span>The entry-level market will remain strong due to the government first home grant of $15,000 and home loan interest rates continuing at record lows.</span></p>
<p><span>"Many home buyers are keen to enter the property market before prices go up further," the valuation firm said. </span></p>
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<p><span>The report suggests local infrastructure projects and jobs growth will contribute to the improvement. </span></p>
<p><span>"Also, cashed-up interstate buyers continue to see value or a better lifestyle in the Gold Coast market," the valuation firm added. </span></p>
<p><span>Property types popular in the region include house and land packages, second hand detached dwellings and attached duplex and townhouse or villa units that either meet first home owner requirements or provide investors a rental return.</span></p>
<p><span>A niche market seen within the region is Tamborine Mountain, located on the western hinterland with a variety of tourism based cafés and restaurants, wine outlets and wedding reception establishments. </span></p>
<p><span>"Over the past year or so, a number of owners have been tapping into the Airbnb market by extending their homes into dual living floor plans and leasing part or all of the home on a short term basis. Many owners who have done this advise of very good rental demand and return," the valuation firm said. </span></p>
<p><span>A current listing is a Tamborine Mountain </span>due level house priced at $1.275 million.</p>
<p>The five bedroom, three bathroom home is situated at <a href="https://www.realestate.com.au/property-house-qld-tamborine+mountain-132102638" target="_blank">3 Cliff Way </a>(pictured below).</p>
<p>It comes with home office, combined living and dining, outdoor kitchen and area for pool or spa.</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/2020/3/2/tamborine%20mountain%201.jpg" alt=""></p>
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j.ballantyne1990-6AQqhLzZaK

Central west and western Gold Coast region's property market set to improve in 2020: HTW residential 

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<p><span>With the record low interest rates at present, the year ahead looks like the Gold Coast's north west region should have some improvement, albeit at a moderate rate, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>"However with the economy not going very well at present compared to the mining boom </span>in the Howard government era, combined with our current massive bushfire disaster and rising tensions in the Middle East, we can expect a large hit on the economy," the valuation said in March. </p>
<p>With this in mind, the growth predicted by some economists for 2020 could all disappear and push the housing market in the other direction.</p>
<p>"What we have to say at present is that it is really wait and see time," the valuation firm said. </p>
<p><span>The report notes the housing market in the north-west includes </span>significant construction however in the past 18 months, construction in the region has been deflated.</p>
<p>"Prior to this, developing estates were thriving with constructions and land sales and as a result we have seen an oversupply of new housing with many vacant houses and second hand modern dwellings having to be heavily discounted to achieve a sale.</p>
<p>"With the slow down in construction, we hope to see a catch up of demand to supply. Yarrabilba and Flagstone are the ones to watch." </p>
<p>A Yarrabilba four bedroom house was sold for $363,000 in February. </p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-yarrabilba-132999670" target="_blank">54 Sienna Circuit</a> (pictured below), the house comes with 4 bedrooms, formal lounge, family room, and combined dining and kitchen. </p>
<p>Other features include air conditioning, dish washer, and gas hot water. </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/2020/3/2/yarrabilba%20.jpg" alt=""></p>
<p>A current offering is a Flagstone four bedroom house priced over $449,000.</p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-flagstone-132774022" target="_blank">15 Outlook Crescent</a> (pictured below).</p>
<p>It comes with large living area, undercover entertaining area, kitchen with stone bench top and back yard.</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/2020/3/2/flagstone%201.jpg" alt=""></p>
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Gold Coast's north west region to see catch up of demand to supply: HTW residential 

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<p><span>The northern New South Wales and southern Gold Coast market became segmented towards the end of 2018 with mixed results continuing into the first half of 2019, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes throughout the second half of 2019 however, agents advised that stable prices were seen along the coastal areas and in some instances, reported evidence of growth, particularly in the coastal suburbs of Coolangatta, Kingscliff and Casuarina.</span></p>
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<p><span>Investment in further infrastructure throughout the area, with projects such as the Tweed Valley Hospital and the approved continuation of G:Link into Stage 3, has improved general market sentiment which should continue in 2020.</span></p>
<p><span>"It would appear that a slight spike in investor activity has occurred across the board with easing lending policy post the royal commission as well as an increase in domestic migration to the southern Gold Coast and Tweed Shire," the valuation firm said. </span></p>
<p>A Coolangatta three bedroom unit with ocean views has recently been sold for $920,000.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-unit-qld-coolangatta-132503390" target="_blank">307/3 McLean Street</a> (pictured below), it comes with three bedrooms, open plan living area, kitchen and two bathrooms. </p>
<p>The apartment is located close to shopping, restaurants, cafes and beaches. </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/2020/3/2/coolangatta%202.jpg" alt=""></p>
<p>A current listing is a three bedroom townhouse situated at <a href="https://www.realestate.com.au/property-unit-qld-coolangatta-132875142" target="_blank">5/9 Churchill Street</a>, Coolangatta (pictured below). </p>
<p>It has been listed for sale with a price guide of $579,000.</p>
<p>Located 200m to Kirra Beach, the townhouse comprises three bedrooms, open plan living and dining, kitchen and single garage. </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/2020/3/2/coolangatta%203.jpg" alt=""></p>
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Southern Gold Coast market to see spike in investor activity: HTW residential 

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<p><span>The Shire has been transforming over the past decade or so as there has been changing demographics, ageing and increasing population, and particular areas becoming gentrified for various reasons, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes that the Sutherland Shire is located approximately 20 kilometres south of Sydney CBD and covers a large area from Waterfall, Menai and Sylvania to Cronulla and Kurnell, and includes approximately 218,000 residents (2016 census).</span></p>
<p><span> Most residential construction throughout the Shire took place from circa 1950s onwards and included traditional three- and four-bedroom fibrous cement and brick veneer dwellings on standard allotments of at least 500 </span>to 600 square metres.</p>
<p>The report notes these properties were the main style of construction throughout the Shire and were family homes.</p>
<p>Higher density construction commenced around the 1960s and 1970s, mostly around Cronulla and along the train line.</p>
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<p><span>"Another driver of shifting demographics and changes to buying patterns is flexible workplaces and improved technology," the valuation firm said. </span></p>
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<p><span>This is particularly evident in the suburb of Caringbah which is generally divided into Caringbah South, Lilli Pilli and Dolans Bay on the southern side of the peninsular and the northern part of Caringbah which adjoins the suburb of Taren Point further north. </span></p>
<p><span>This suburb once consisted of traditional style family homes on above average sized allotments however due to the aforementioned reasons it now comprises varying examples of developments ranging from high density developments along the transport corridors, medium density townhouse style properties, duplexes and also seniors housing which are generally reserved for residents who are over 55 years of age.</span></p>
<p><span>A near new one bedroom plus study apartment (pictured below) in Caringbah was sold for $570,000 in December, 2019.</span></p>
<p>The apartment at <a href="https://www.propertyobserver.com.au/The%20Shire%20has%20been%20transforming%20over%20the%20past%20decade%20or%20so%20as%20there%20has%20been%20changing%20demographics,%20ageing%20and%20increasing%20population,%20and%20particular%20areas%20becoming%20gentrified%20for%20various%20reasons" target="_blank">307/316 Taren Point Road</a> comprises caesarstone kitchen, bedroom plus study nook, internal laundry and entertainer's balcony. </p>
<p>Other features include ducted air-conditioning, gas heating, timber tiles and communal rooftop terrace. </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/2020/3/16/caringbah.jpg" alt=""></p>
<p>Another three bedroom apartment in Caringbah (pictured below) with panoramic views was sold for $1.18 million in November, 2019. </p>
<p>The townhouse style apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-caringbah-130377786" target="_blank">607/22 Banksia Road</a> comes with three bedrooms, three balconies, open living area and large kitchen. </p>
<p>Other features include timber flooring, spacious laundry and three storage areas. </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/2020/3/16/caringbah%202.jpg" alt=""></p>
<p>A four bedroom townhouse situated at<a href="https://www.realestate.com.au/sold/property-townhouse-nsw-caringbah+south-131750142" target="_blank"> 2/9 Alice Street, Caringbah South </a>(pictured below) was sold for $1.4 million in September last year. </p>
<p>The brand new home comprises designer kitchen, four bedrooms with built-ins, open plan living and alfresco entertaining area.</p>
<p>Other features include west facing entertainers deck, grassed yard and secure basement parking.</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/2020/3/16/caringbah%20south.jpg" alt=""></p>
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<p><span>Development throughout Caringbah has been somewhat assisted by the above average land sizes that allow for duplex and townhouse style developments. </span></p>
<p><span>Many of the baby boomers have sold their large, older properties to younger generations and young families which is also encouraging </span>new non-residential development such as cafes, restaurants, hotels, pubs and the overall changing demographic of the area, the report suggested. </p>
<p><span>"The current low interest rate environment and overall positive market sentiment is likely to fuel continued construction and renovation, particularly in the first half of 2020," the residential report notes. </span></p>
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The Sutherland Shire market : HTW residential 

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<p>Admittedly, $700,000 is nearing the bottom end of the Lower North Shore market, but it can still buy you a unit style property with plenty of up-side, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
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<p><span>"Normally when we mention Sydney’s Lower North Shore, we are referring to multi-million dollar prestige properties on expansive allotments with landmark views.</span></p>
<p><span>"However, there is another sector of the market on the Lower North Shore which fits the criteria for this month’s lazy $700,000 discussion," the valuation firm said. </span></p>
<p><span>Looking at the suburb of Neutral Bay, just 1.5 kilometres from the Sydney CBD, a one-bedroom unit with parking within a classic circa 1960 or 1970 walk-up style unit complex is still readily available. </span></p>
<p><span>Although at the lower end of the market, a unit such as this in Neutral Bay still offers proximity to amenities, restaurants and retail, public transport (buses and rail depending on position) and the harbour foreshore. </span></p>
<p>An example of a recent sale of such a property is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-neutral+bay-133207122" target="_blank"> 9/389A Alfred Street, Neutral Bay</a> (pictured below), selling in March this year for $640,000.</p>
<p><span>This is a 1960’s style, one-bedroom, one-bathroom, updated, north facing unit with a small balcony and a single car space.</span></p>
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<p><span>Typically, these units are in demand from young professionals, downsizers or investors. A unit such as the one described above would likely achieve a weekly rental of $500, resulting in an approximate yield of four per cent, the report noted. </span></p>
<p><span>Although this return is not setting any records, capital growth is historically strong on the Lower North Shore and this forms part of the attraction for investors.</span></p>
<p><span>"We would expect this sector of the market to continue to perform well in the future, primarily underpinned by the central location, public transport and convenient access to the Sydney CBD," the valuation firm said. </span></p>
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What $700,000 can buy in the Lower North Shore: HTW residential 

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<p>In the Sutherland Shire, $700,000 is a popular price point for first home buyers with agents noting that properties with a price of $750,000 and below are often quick to sell, even under current market conditions, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
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<p><span>The report notes a good example of the type of property is the sale of a one-bedroom, one-bathroom unit with a one-car garage in Cronulla which sold in mid- June for $645,000. </span></p>
<p><span>The first floor 1980’s unit has </span>been updated internally and is located within 200 metres of the sand.</p>
<p>A typical rent for this type of unit would be around $425 per week, representing around a 3.5 per cent gross return.</p>
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<p><span>"Whilst below the median price for all suburbs in the Sutherland region, you can still pick up a house for around the $700,000 mark, although they are pretty few and far between, meaning you have to make some compromises," the valuation firm said. </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/2020/7/28/heathcote.jpg" alt=""></span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-heathcote-133280594" target="_blank"> 11 Rosebery Street in Heathcote</a> (pictured above) sold for $690,000 in mid-April. The property was a single level cottage in need of repairs and renovations on a smaller than average lot of 416 square metres, however the property was well located to the railway station, local shops and local primary school.</p>
<p><span>"With the current possibility of an oversupply of modern units in suburbs such as Caringbah and Miranda, at this price range an older style one- or two-bedroom unit in a smaller development in a desirable location, such as a one-bedroom unit in Cronulla, is likely to be the best performer over the short to medium term for both value growth and rental return," the valuation firm said. </span></p>
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What $700,000 can buy in the Sutherland Shire: HTW residential 

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<p><span>For under $700,000, the Liverpool LGA still provides opportunities for investors and home occupiers to get into the market or grow their portfolio, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </span></p>
<p><span>The HTW report notes within the strata titled market, the Liverpool LGA offers an array of choice, from CBD living to a more traditional residential community setting.</span></p>
<p><span>"The Liverpool CBD unit market has struggled over the past 18 months. </span>We consider that the amount of supply entering the market and the lack of business growth within the CBD has contributed to values remaining steady or even decreasing," the valuation firm said.  </p>
<p>An example of this is a 2004 built three-bedroom, two- bathroom unit at<a href="https://www.realestate.com.au/sold/property-unit-nsw-liverpool-133388142" target="_blank"> 10/25-27 Castlereagh Street</a> (pictured above).</p>
<p><span>The unit sold in May 2015 for $520,000 and recently resold in May 2020 for $510,000.</span></p>
<p><span>Whilst the Liverpool CBD unit market has struggled in recent times for investors, price levels in the sub $550,000 range do allow first home owners to enter the market in a central location close to shops, schools and train lines. </span></p>
<p><span>Compared to the Parramatta CBD, it offers very affordable living, the report noted. </span></p>
<p><span>"However, it’s not all doom and gloom for Liverpool, which is seen as Sydney’s third city. The development of the Western Sydney Airport and the rezoning of 25 hectares of land in the heart of </span>Liverpool will reinvigorate life and promote more commercial space in the area," the valuation firm said. </p>
<p>The ultimate aim is to remove the need for workers to travel to the traditional Parramatta and City hubs. This may be just what Liverpool needs to breathe life back into the Liverpool unit market in years to come.</p>
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<p><span>Within the Liverpool LGA, the Torrens Titled market under the $700,000 mark is constantly decreasing in opportunity, however suburbs such as Busby, Cartwright and Ashcroft which have generally been overlooked do provide great hidden opportunities for owner-occupiers and investors as shown in the examples below, the report noted. </span></p>
<p><span>Geographically speaking, these suburbs are within 20 minutes drive of Sydney’s third CBD (Liverpool CBD) and only 30 minutes from the Western Sydney Airport and Aerotropolis precinct.</span></p>
<p><span>"The style of housing and land size in this area provide a very affordable investment to either owner occupy, knockdown rebuild, sit and hold, or look to construct a granny flat on the site to obtain a second rental stream," the valuation firm said. </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/2020/7/28/cartwright.jpg" alt=""></span></p>
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<p>An example is<a href="https://www.realestate.com.au/sold/property-house-nsw-cartwright-133476678" target="_blank"> 63 Mawson Drive, Cartwright </a>(pictured above) which sold in May for $565,000.</p>
<p><span>For the price typically reserved for units, the property affords three bedrooms and one bathroom on 579 square metres of land. </span></p>
<p><span>A second dwelling is possible, however subject to council approval.</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/2020/7/28/busby.jpg" alt=""></span></p>
<p>Another example is<a href="https://www.realestate.com.au/sold/property-house-nsw-busby-131058822" target="_blank"> 8 Kelvin Place, Busby</a> (pictured above), which sold in February for $625,000.</p>
<p><span>The property affords a renovated three-bedroom, one- bathroom home on 651 square metres of land.</span></p>
<p><span> Detached at the rear is a council approved one- bedroom, one-bathroom, self-contained granny flat. </span></p>
<p><span>The achievable rental for the main dwelling is $440 per week and $220 per week for the granny flat, calculating to a strong 5.5 per cent gross return.</span></p>
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What $700,000 can buy in South-Western Sydney: HTW residential 

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<p><span>The recent relaxation of travel restrictions and gatherings in public has given the Byron Shire a much-needed confidence boost, according to a recent Herron Todd White (HTW) residential </span>report. </p>
<p><span>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.</span></p>
<p><span>The HTW report suggests although any tangible improvement in the local economy is yet to be realised in the property market, local agents remain optimistic about the long term growth of the property market in Byron Bay and surrounds and this leads us to consider where it is possible to park $700,000 on a property in the Byron Shire at present.</span></p>
<p><span>"If Byron Bay is your cup of tea, then count out the $700,000, raid the kids’ piggy banks and check under the couch for any loose change, because you are going to need it," the valuation firm said. </span></p>
<p><span> Whilst it is not quite that bad, the options are pretty restricted within Byron Bay proper. </span></p>
<p><span>Most properties start at prices well above $700,000 but if that is the limit of your budget, </span>it is still possible to pick up an early 1990’s three- bedroom townhouse on the north-west edge of town in the $650,000 to $700,000 price range.</p>
<p>However, instead of a gentle stroll to the beach with a towel draped over your shoulder, it will be necessary to purchase a bike and ride the ten minutes to the beach instead, the report noted. </p>
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<p><span>"Looking elsewhere in the shire, the pickings become a little easier at Ocean Shores which offers reasonable proximity to beaches, albeit of a less well regarded standard than the acclaimed beaches of Byron Bay. </span></p>
<p><span>"Nevertheless, it is possible to find a wider choice of property in Ocean Shores that includes a sprinkling of detached, older style houses and relatively modern townhouses and villas," the valuation firm said. </span></p>
<p>A retro family home in Ocean Shores has recently been sold for $700,000.</p>
<p>The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-ocean+shores-133552854" target="_blank">2 Binya Place</a> (pictured below).</p>
<p>Set on a 702sqm block, the single level home is just 200m from a Waterlily park with tennis court and children's play quipment/ </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/2020/7/28/ocean%20shores.jpg" alt=""></p>
<p><span>Further afield, Mullumbimby offers a small opportunity to find an older style cottage but with the proviso that additional funds would be required to carry out update works as $700,000 will only buy the most basic standard of house.</span></p>
<p><span>A current listing is a three bedroom house in Mullumbimby priced at $557,000. </span></p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-mullumbimby-133733834" target="_blank">10 King Street</a> home (pictured below) come with open plan living, dining and kitchen, three bedrooms and easy care lawns. </p>
<p><span>It is located within walking distance to the town centre.</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/2020/7/28/mullumbimby.jpg" alt=""></span></p>
<p><span>"If land banking is more your cup of tea, it is </span>still possible to find the odd block of land in the outer areas of Mullumbimby in the price range of $450,000 to $500,000," the valuation firm said. </p>
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What $700,000 can buy in Byron Bay: HTW residential 

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<p>The impact of the COVID-19 virus is yet to be realised by the local market, however is having a major impact on local businesses in the areas of Lennox Head, Ballina and surrounds, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
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<p><span>The report notes verbal discussions with local agents indicate a decrease in interest in listed properties along with a decrease in vendors placing properties on the market. </span></p>
<p><span>The North Coast of New South Wales has seen very little infections, with the majority of infections recorded in the Byron Bay locality. </span></p>
<p><span>The closure of the Queensland border has had an impact on local business and in turn has had </span>a negative impact on open houses in the local area.</p>
<p>Agents remain positive for the North Coast due to the recent surge of people retreating from the major cities. This coupled with economic uncertainty has helped keep property prices inflated in the coastal areas.</p>
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<p><span>"So far, we are still in a fairly firm market with some recent sales in Lennox Head, Ballina and surrounding areas making good prices. </span></p>
<p><span>"Sales of vacant land in Epiq and surrounding areas have slowed slightly with some local builders indicating that land owners are postponing building till the economy stabilises," the valuation firm said. </span></p>
<p><span>The market drivers within the sought-after coastal areas of the Ballina Shire are typically influenced by the performance of capital city markets - most notably the Sydney and Melbourne markets and to a lesser extent the Brisbane and coastal south- east Queensland markets, the report noted. </span></p>
<p><span> Whilst the demand resulting from these capital city markets has typically been concentrated in the more desirable areas of Byron Bay and the surrounding localities, in more recent years potential purchasers have expanded their searches into the desirable areas of the Ballina Shire - most notably Lennox Head, Skennars Head and East Ballina, as well as the rural localities of Newrybar, Brooklet, Fernleigh and Tintenbar.</span></p>
<p><span>A four bedroom house in Wollongbar has recently been sold for $640,000.</span></p>
<p>The family home at <a href="https://www.realestate.com.au/sold/property-house-nsw-wollongbar-133863474" target="_blank">5 Analei Street </a>(pictured below) comprises open plan kitchen, dining and lounge, four large bedrooms, sunroom and double garage.</p>
<p><span>It also features in ground pools, large garden and solar power.  </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/2020/7/28/wollongbar.jpg" alt=""></span></p>
<p><span>A current listing is a two bedroom townhouse in Ballina with a price guide of $460,000 to $490,000.</span></p>
<p>The <a href="https://www.realestate.com.au/property-townhouse-nsw-ballina-133967578" target="_blank">7/58 Martin Street</a> home (pictured below) comes with new kitchen, two bedroom upstairs, balcony and courtyards. </p>
<p><span>It is situated close to school, hospital, parkland and town centre. </span></p>
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Ballina property market remains firm: HTW residential 

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<p>Within the inner suburbs of Sydney, buyers with a budget of $700,000 or less are limited to studio, one- or two-bedroom apartments, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
<p>However there is still a wide range of factors to consider such as location, size and quality of development, living area size, aspect and natural light, parking and many other fundamental aspects such as nearby infrastructure and potential oversupply issues within the immediate area, the HTW noted. </p>
<p>"If considering buying within this market segment, it is generally important to purchase something to which you can add value by doing minor renovations and buy within smaller scale, good quality buildings that have some character and are located in convenient positions where people want to live, close to public transport, schools, parks, local shops and cafés, etc," the valuation firm said. </p>
<p><a href="https://www.realestate.com.au/sold/property-apartment-nsw-darlinghurst-133362654" target="_blank">6/1 Darley Street, Darlinghurst</a> (pictured below) was advertised for sale throughout April and May with an asking price range of $550,000 to $580,000, and sold for $513,000 on 29 May 2020.</p>
<p><span>Interestingly, the previous sale was five years ago in July 2015 for the same price of $513,000 when it sold prior to auction, the report noted. </span></p>
<p><span>This is a small, one-bedroom apartment with an approximate living area of 37 square metres and no outdoor areas or parking. </span></p>
<p><span>This style of property is aimed at investors, or to a lesser extent, first home buyers.</span></p>
<p><span> The rental market has been negatively impacted due to COVID-19 which directly affects how much investors are willing to pay for investment properties of this nature. </span></p>
<p><span>Furthermore, the rental history for this property as per RP Data indicates that the asking rent during 2010 was $425 per week and the recent asking rent as at March 2020 was $495 per week, however this appears to have now reduced to approximately $400 per week.</span></p>
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<p><span>This is a good example of an entry-level property below $700,000 within a popular inner-east location and approximately two kilometres of the </span>Sydney CBD, the report noted. </p>
<p>This property also benefits from heritage character and could prove to be a good purchase for a first home buyer, or a steady longer- term investment, provided of course that you could cope with the reduced rental income in the current market.</p>
<p>The report noted other matters to consider for this type of property are some lending policies on properties with a living area of less than 50 square metres requiring a larger deposit.</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/2020/7/28/darlinghurst%201.jpg" alt=""></p>
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<p><a href="https://www.realestate.com.au/sold/property-apartment-nsw-marrickville-133585994" target="_blank">8/73 Warren Road, Marrickville</a> (pictured below) is another example of an entry-level property in the inner west region of Sydney, the report noted. </p>
<p><span>It is located approximately 9 kilometres from the CBD and sold for $655,000 on 13 June 2020.</span></p>
<p><span>This is a two-bedroom, one-bathroom apartment situated within a two-level walk-up building </span>constructed circa 1970.</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/2020/7/28/marrickville%20.jpg" alt=""></p>
<p>The unit benefits from updated interiors and a single car space.</p>
<p>The property is positioned in a quiet street and located approximately 500 metres from Marrickville train station and local shops.</p>
<p>Similar two-bedroom units can achieve a rental income of approximately $450 to $500 per week.</p>
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<p><span>In the east, you are generally looking at studio or </span>one-bedroom units with car accommodation at this price point, which is entry level for first home buyers or local investors, the report noted. </p>
<p>Slightly further away in the inner south, suburbs such as Botany, Mascot, Rosebery, Zetland and Waterloo, which typically have a large supply of modern units, provide more options for those looking to buy in the area.</p>
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<p><span>"In the current market, investors should look away from over supplied areas and large unit developments and instead focus on older style walk-up units requiring renovation to add value. </span></p>
<p><span>"The oversupplied areas will always be more volatile due to large supply and many similar style developments. The properties likely to perform the best are those that are unique, with views or proximity to the beach or harbour, or those that can offer value add through renovations," the valuation firm said. </span></p>
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