<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>Auction numbers and new listings in Sydney property market continue to remain fairly strong for this time of year, according to the latest Herron Todd White (HTW) residential report.  </span></p>
<p><span>The valuation firm presented a "investor playbook" of real estate performance within each service area. </span></p>
<p><span>The report notes the last few weeks has seen an increasing number of COVID-19 community transmissions in Melbourne and then Sydney. </span></p>
<p><span>"Whilst, at the time of writing, Sydney has not seen a return to the lockdowns experienced in March and April, there is no doubt consumer confidence is again starting to decline as a result of an apparent ‘second wave’," the valuation firm said. </span></p>
<p><span>Home values across Sydney have continued to decline over the past month, dropping by 0.9% over that time according to CoreLogic. </span></p>
<p><span>Whilst values are still up by 2.8% since the beginning of 2020, if the current trend continues, it would mean prices falling a further 5 to 6% by the end of the year, the report noted. </span></p>
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<p><span>"Auction numbers and new listings continue to remain fairly strong for this time of year, although auction clearance rates have eased to around 60% over the past few weeks," the valuation firm said. </span></p>
<p><span>The clearance rate at in the same period last year was above 70%, although with a lower number of auctions, as the market began its recovery at the time.</span></p>
<p><span>"And now onto the property investors playbook," the valuation firm continued. </span></p>
<p><span>The residential property investor market has had some significant hurdles placed in front of it in recent years.</span></p>
<p><span> Tougher lender and regulatory requirements around investor loans, and the threat of removal of negative gearing and capital gains tax allowances prior to the federal election in May last year, significantly reduced the number of investors looking to get into the market, the report noted. </span></p>
<p><span>As these lending restrictions eased and the threat to tax allowances was extinguished, the investor market began to recover along with the wider market as prices started to rise.</span></p>
<p><span>That recovery has now come to an abrupt halt as a result of COVID-19, as asking rents have fallen sharply, while vacancy rates have climbed, across many parts of Sydney.</span></p>
<p><span>According to CoreLogic, across the financial year to June, Sydney dwellings saw an average 16.7% return with 13.3% of that through capital growth.</span></p>
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<p><span>Houses enjoyed a 17.7% return with 14.5% capital growth, while units had a 14.7% return with 10.6% of that being capital growth.</span></p>
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<p><span>However with prices now falling and rental yields also under downward pressure, returns in the current financial year are likely to be significantly leaner.</span></p>
<p><span>As can be seen from the table below, vacancy rates in the Inner and Middle ring suburbs have been particularly hard hit since March, while the Outer suburbs have continued to see a tightening vacancy rate, the report noted. </span></p>
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<p><span>The Inner ring suburbs have seen an increasing supply of properties, particularly units, as previous holiday-stay properties were switched over to the long term rental market, and new unit completions have continued to hit the market. </span></p>
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<p><span>The report notes demand levels are not increasing at the same levels as supply as immigration has been stopped and is likely to be impacted for some time to come. </span></p>
<p><span>Demand from international students has also dropped dramatically as a result of COVD-19.</span></p>
<p><span>"With values at the lower end of the market holding up better than other price points, and vacancy rates continuing to tighten in the outer ring, Western Sydney is looking like the best place for investors </span>for returns in the short to medium term."</p>
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j.ballantyne1990-6AQqhLzZaK

Sydney home values continues to decline: HTW residential 

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<p>Much like last month, with COVID-19 still present in Australia, it is quite difficult to pinpoint exactly what is going to happen with the Newcastle local property market, according to the July 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 first provided a COVID update.</span></p>
<p><span>"With restrictions around open houses and auctions being lifted, there has been an increase in potential buyers visiting properties for sale; however, we are still not seeing anywhere close to the sales volumes we would normally expect," the valuation firm said. </span></p>
<p><span>Agents in the area are reporting numbers of properties being listed are on the increase but they are down on the same period last year due to the ongoing pandemic. </span></p>
<p><span>The most recent weeks have seen widespread activity with properties still being sold and the savvy investor on the lookout for a bargain. </span></p>
<p><span>Across the Newcastle and Hunter region house prices have remained relatively flat across the board with the region proving to hold its own in light of recent global events.</span></p>
<p><span>"Now onto this month’s topic. </span>With our lazy $700,000 we’ve chosen to spend in the suburb of Woodberry NSW, and buy not just one, BUT TWO houses.</p>
<p>"Where is Woodberry you ask? Great question. Woodberry is located between two of the largest towns in the Hunter region, approximately 21kms south east of Maitland and 22kms north west of Newcastle,," the valuation firm said. </p>
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<p><span>The suburb is well serviced by shopping facilities and schools with the Stockland Greenhills major shopping centre located in East Maitland and a number of primary and secondary schools close by. Public transport is readily available with </span>a number of buses running the entire suburb and Beresfield Train Station just 1.5kms away.</p>
<p>Commuters to Newcastle are only a 20 minute train ride or 25 minutes by car or a short 15 minute train or car ride from Maitland.</p>
<p><span>Woodberry is also strategically located close to the new Maitland Hospital (approximately 10kms) which is currently under construction, and on track to open early 2022. </span></p>
<p><span>The new hospital will provide great employment opportunities within the area and meet the growing health service needs for the Hunter Valley, the report noted. </span></p>
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<p><span>"Now that we’ve established its strategic location close to major CBD’s, shopping, schools, hospital and transport. Let’s look at some stats!" the valuation firm said. </span></p>
<p><span>According to Corelogic the median sale price for houses in Woodberry NSW is $330,000 (for the 12 months to 31/03/2020).</span></p>
<p><span> Over the last 5 years the suburb has seen growth of 4.2% per annum and 3% per annum over 10 years. </span></p>
<p><span>The median sale price for houses in the Maitland LGA over the same period was $480,000; with growth of 4.6% per annum and 4.0% per annum over 5 years and 10 years respectively.</span></p>
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<p><span>The median rental yield in Woodberry is 5.7% gross with a median rent of $359 per week (for the 12 months to 31/03/2020). That sure beats a 1% return on a term deposit, the report noted. </span></p>
<p><span>The median rental yield in the Mailtand LGA over the same period was 4.6% gross.</span></p>
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<p><span>The HTW report provided some examples of recent sales and rentals in the area.</span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-woodberry-132856638" target="_blank">8 Curlew Crescent Woodberry </a>sold for $340,000 in March 2020 (pictured below).</p>
<p><span>The property was purchased by an investor and rented at settlement for $360 per week. Representing a gross yield of 5.50%.</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/2020/8/3/woodberry.jpg" alt=""> </span></p>
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<p><a href="https://www.realestate.com.au/sold/property-house-nsw-woodberry-133531378" target="_blank">16 Kookaburra Parade Woodberry</a> recently sold for $323,000 in May 2020 (pictured below).</p>
<p><span> The selling agent advises the property would rent for approximately $340 per week. Representing a gross yield of 5.47%.</span></p>
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What a lazy $700,000 can buy in Newcastle: HTW residential  

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<p>Residential prices continue to be holding through June 2020 in the Illawarra, according to the July 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 suggests there remains a relatively low amount of stock on the market which is driving a bit more competition amongst buyers.</span></p>
<p><span> Realistically priced and conventional properties are selling within two months in most cases.</span></p>
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<p><span>"Ten years ago, $700,000 would have given you the pick of many properties throughout the Illawarra with only the more desirable areas out of reach, however strong price increases over the past decade have restricted a purchaser with $700,000 to spend," the valuation firm said. </span></p>
<p><span>This is the approximate median house price in suburbs such as Figtree and Flinders, although townhouses or units can still be picked </span>up for under $700,000 in suburbs such as Thirroul and Bulli and older houses can be purchased in Corrimal and Russell Vale.</p>
<p>There have been plenty of new units built in Wollongong over the past couple of years and $700,000 will pick up a decent quality two-bedroom unit with a bit of a view.</p>
<p>A two bedroom apartment in Wollongong CBD has recently been sold for $488,500. </p>
<p>The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-134021110" target="_blank">3/6 Market Place</a> home (pictured below) comes with sleek kitchen, two oversized bedrooms, and renovated bathroom. </p>
<p>It is situated within close proximity to eateries and beach. </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/2020/8/3/wollongong%20cbd%20.jpg" alt=""></p>
<p>In high growth areas such as West Dapto (Horsley, Wongawilli and Kembla Grange) and Calderwood, a new four-bedroom house on a 450 square metre lot can be purchased for under $700,000, the report noted. </p>
<p>A current listing is a four bedroom house in Horsley priced at $649,000.</p>
<p>The recently updated home at <a href="https://www.realestate.com.au/property-house-nsw-horsley-133293570" target="_blank">11 Lucas Drive </a>(pictured below) comprises four bedrooms,  living and dining spaces, two bathrooms, and gardens. </p>
<p>It is situated close to schools, eateries, transport and Wollongong CBD.</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/2020/8/3/horsley.jpg" alt=""></p>
<p><span>"We see mainly younger families or couples purchasing at this price point with second house buyers or downgraders often above this market. </span></p>
<p><span>"Pandemic conditions have not brought any significant price decreases in our market, however there is still a decent level of uncertainty in the short to medium term as government stimulus packages and local and macro economies grapple with a recession." the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Illawarra: HTW residential  

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<p>The sub-$700,000 price point still provides attractive offerings within Western Sydney to its key buyers, 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>The report suggests that the key buyers include first home buyers, investors and those looking to upgrade their existing residence, due to its more diverse options and lower price point in comparison to other areas in Sydney.</p>
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<p><span>"In relation to strata options, established areas in Western Sydney can provide two to three- bedroom units and in some cases townhouses," the valuation firm said. </span></p>
<p><span>In Parramatta, with its wider supply of units, </span>the $700,000 mark allows for a near new two- bedroom, two-bathroom unit.</p>
<p>An example of this is a circa 2019 unit, <a href="https://www.realestate.com.au/sold/property-apartment-nsw-parramatta-132823630" target="_blank">101/23 Hassall Street</a> (pictured below) which sold in February for $690,000, however previously sold off the plan in 2016 for $759,000, the report noted. </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/paramatta.jpg" alt=""></p>
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<p><span>"In Blacktown, you would only need $650,000 for a three-bedroom strata townhouse as shown by the sale of 4/16-20 Kent Street in April for $640,000," the valuation firm said. </span></p>
<p><span>The report notes opportunities at this price point for dwellings can be found for first home buyers and investors who wish to buy older style homes with a decent sized block of land in order to add value. </span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132782770" target="_blank">18 Killarney Avenue, Blacktown</a> (pictured below), a mostly original, three- bedroom, one-bathroom home with 601 square metres of land sold for $670,000 in April and would provide ample opportunity for value adding.</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/backstown.jpg" alt=""></p>
<p> </p>
<p><span>For a good investment, a house and granny flat in St Marys would provide a higher cash flow in the short term and potential for longer term capital growth, the report noted. </span></p>
<p><span>St Marys is set to be connected to the Western Sydney Aerotropolis at Badgerys Creek. </span></p>
<p><span>A house and granny flat, 21 &amp; 21A Marsden Road, St Marys, which sold for $699,900 in April, has a potential rental income of $740 per week and yield of 5.5 per cent.</span></p>
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<p><span>"House and land packages are also an option in newer estates such as Marsden Park, Box Hill and Jordan Springs," the valuation firm said. </span></p>
<p><span> At this price point though, buyers will have to compromise on size to put together a package with land of between 250 and 350 square metres.</span></p>
<p><span>An example of this is the current listing of Lot 6181 Annan Avenue, Marsden Park, a single level, four- bedroom, two-bathroom Metricon built dwelling with a single garage, improved upon a 312 square metre block available for $699,546.</span></p>
<p><span>"Within the new estates you don’t need $700,000 to purchase land; for much less you can pick up a block to build your dream home. </span></p>
<p><span>"Prices are dependent on the size, location, frontage and topography of the allotment," the valuation firm said. </span></p>
<p><span>A comparison can be found for a few suburbs in the table below.</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/western%20sydney%20compare%20.jpg" alt=""></span></p>
<p><span>Source: HTW</span></p>
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<p><span>"In the rental market, with a current oversupply of available property relative to demand and the effects on the various markets of COVID-19, the rental market has contracted leading to increased vacancy rates and lower asking rents," the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Western Sydney: HTW residential 

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<p>Risk appetite and investment strategy will play a large role in deciding where to invest, 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>
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<p><span>The HTW report suggest the entry level price point of $700,000 and products on offer appeal primarily to first home buyers and investors.</span></p>
<p><span>"An investor should be mindful of vacancy rates, competing stock levels and planned infrastructure upgrades, making sure to utilise the most recent market evidence to justify any decisions," the valuation firm said. </span></p>
<p><span>Value levels have performed better than forecast during the COVID-19 period, with CoreLogic reporting a 0.4 per cent decline in dwelling values across Sydney in May. </span></p>
<p><span>Median data suggests </span>the Northern Beaches is still currently well above 2019 levels for both unit and dwellings. Sqmresearch.com has current median listing prices of dwellings at $2 million, well above the May 2019 low of $1.69 million.</p>
<p><span>Given that $700,000 is well below the median dwelling value of $1.8 million (CoreLogic as at March 2020) it would take something fairly unusual and a </span>property in Wheeler Heights just so happens to have sold recently, the report noted. </p>
<p><a href="https://www.realestate.com.au/sold/property-apartment-nsw-wheeler+heights-106266168" target="_blank">65A Penrith Avenue, Wheeler Heights </a>(pictured above) is a lower level duplex built circa 1970’s that has been renovated internally and features one bedroom, one bathroom, open plan living room and entertaining deck and courtyard.</p>
<p>This compact semi-detached dwelling sold in February 2020 for $700,000 and was last leased for $450 per week in 2019.</p>
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<p><span>A budget of $700,000 provides a plethora of opportunities in the unit market with a number of suburbs including Mona Vale, Dee Why, Avalon, Manly, Collaroy, Newport and Brookvale having a range of unit types available for under $700,000 (some as low as $450,000). </span></p>
<p><span>"One-bedroom units are available from as low as $500,000 in Dee Why, so $700,000 would allow the opportunity for a modern or renovated one-bedroom unit. </span></p>
<p><span>"Alternatively, older style two-bedroom units are available from circa $650,000," 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/dee%20why.jpg" alt=""></span></p>
<p>A recent example is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-dee+why-133312094" target="_blank"> 8/14 Lismore Avenue, Dee Why</a> (pictured above).</p>
<p><span>The renovated circa 1970’s two-bedroom, one-bathroom unit sold for $665,000 on 28 May.</span></p>
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<p><span>Dee Why would offer a higher yield potential (circa four per cent) although historically offers lower capital growth prospects in comparison to other nearby suburbs. </span></p>
<p><span>Alternatively, an older style unit in a busier position in Balgowlah or Manly is available for a similar value level, the report noted. </span></p>
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What a lazy $700,000 can buy on Sydney's Northern Beaches: HTW residential 

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<p><span>The local Canberra housing market has continued to be quite stable, according to the latest 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 there are still active market participants, however there are lower sales listings available. </span></p>
<p><span>The COVID-19 changes to public auctions did see a quick uptake of online auctions which proved to be quite successful with comparatively good clearance rates. </span></p>
<p><span>"The apartment market </span>has continued to experience a long period of strong supply and weakening demand. This has contributed to wider sale price fluctuations," the valuation firm said. </p>
<p><span>The residential tenancy moratorium on evictions has affected rented properties also listed for sale; investors are approaching with more caution due to the uncertainty of rental income and ending the lease agreement during this time. </span></p>
<p><span>In some cases, buyers have requested an extended settlement period to coincide with the end of the tenant’s fixed term lease (e.g. explicit term of the contract is vacant possession, however premises are tenanted, and thus responsibility is on the seller, not the buyer). </span>This has resulted in some extended settlement periods on properties that would have sold within normal settlement periods pre-COVID-19.</p>
<p><strong>A Lazy $700,000</strong></p>
<p><span>Belconnen is a district located north-west of the Canberra CBD and surrounds Lake Ginninderra. There are a few options for a lazy $700,000, the report noted. </span></p>
<p><span>A three bedroom townhouse in Belconnen has recently been sold for $655,000.</span></p>
<p>The<a href="https://www.realestate.com.au/sold/property-townhouse-act-belconnen-132721862" target="_blank"> 13/16 Morell Close</a> home (pictured below) comes with lounge room, kitchen and dining area and patio.</p>
<p><span>It also features evaporative cooling, ducted gas heating and double garage. </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/2020/7/20/belconnen.jpg" alt=""></span></p>
<p><span>In the suburb of Cook, $700,000 would be your entry point for a detached family home. </span></p>
<p><span>If you are lucky enough to find one, it would be a circa 1960s </span>three-bedroom, one-bathroom home with mostly dated interior situated on a 650 plus square metre lot.</p>
<p>Cook has continued to experience strong capital growth, which should give potential buyers more confidence.</p>
<p>"True is the old saying - buy the worst house in the best street," the valuation firm said. </p>
<p>A three bedroom house in Cook has recently been sold for $690,000.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-act-cook-133262966" target="_blank">24 Templeton Street </a>(pictured below), the home features RC/AC to living room, lock up garage and workshop, </p>
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<p><span>It is situated close to Jamison Plaza, Belconnen Town Centre and ANU.</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/2020/7/20/cook.jpg" alt=""></span></p>
<p><span>In the suburb of Evatt, your dollar will go a lot further, the report noted. </span></p>
<p><span>"Typically, you could buy a circa 1970s renovated four-bedroom, two-bathroom detached dwelling situated on an 800 plus square metre lot," the valuation firm said. </span></p>
<p><span>Evatt has experienced good capital growth, which is likely to continue in the short to medium term.</span></p>
<p><span>Thanks to the ACT Government’s Mr Fluffy Buyback Scheme, there has been an array of brand-new </span>duplex and dual occupancy dwellings built on the remediated blocks within the established suburbs of Belconnen, some priced within the $700,000 price range.</p>
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<p><span>In the suburb of Flynn, you could buy a brand new turnkey, four-bedroom, two-bathroom dual occupancy dwelling with a two-car built in garage, the report noted. </span></p>
<p><span> Buyer demand has typically been a mix of first- home buyers, downsizers and investors.</span></p>
<p><span> The short- term capital growth has been quite stable, as there continues to be a supply of other newly developed Mr Fluffy blocks available and in the pipeline.</span></p>
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What a lazy $700,000 can buy in Canberra: HTW residential 

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<p><span>Following the COVID-19 restrictions in place from early March 2020, local real estate agents working in the northern suburbs of Tasmania have reported that general sales activity and enquiry were quiet in early March and recovered in early May, according to the latest 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 report notes with some certainty, COVID-19 seems to have had limited impact on the property market in the northern suburbs. </span></p>
<p><span>"Recent sales evidence indicates that the property market was relatively stable in the second quarter of 2020 with very slight signs of negative activity. </span></p>
<p><span>"The days on market have remained steady, with average selling periods of between two and three weeks," the valuation firm said. </span></p>
<p><span> The rental market across the northern suburbs for the March quarter was also reflective of a relatively stable environment.</span></p>
<p><span> A three-bedroom home’s weekly rent was from $350 to $480 depending on the location of the property.</span></p>
<p><span>A majority of properties in the northern suburbs do not generally exceed $700,000, the report noted.</span></p>
<p><span>'At this level of value, you could expect to purchase a range of different types of properties:</span></p>
<ul>
<li>A large 200 square metre plus multi-storey dwelling with a high quality fit-out, located within a sought–after locale such as West Moonah, Rosetta, Berridale or Claremont Estate with either elevated river views or close proximity to the river, shopping and recreation facilities.</li>
<li>Good quality rural lifestyle dwelling on over one acre of land;</li>
<li>A heritage-listed property with well-maintained heritage features;</li>
<li>In terms of investors within this market, $700,000 will most likely allow you to purchase two newly constructed units in an outer suburb location (Brighton, for example) achieving yields of over seven per cent plus a tax saving benefit.</li>
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<div class="column">A four bedroom house in West Moonah has recently been sold for $430,000.</div>
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<div class="column">The home at <a href="https://www.realestate.com.au/sold/property-house-tas-west+moonah-133055850" target="_blank">1/150 Springfield Avenue </a>(pictured below) comes with open plan living, four bedrooms, and rumpus or game room.</div>
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<div class="column">It is just a short 5-minute drive from all the amenities that Moonah has to offer. </div>
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<div class="column">A current listing is a three bedroom home in Tarleton priced over $495,000.</div>
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<div class="column">Set on over 4ha, the updated home is situated at <a href="https://www.realestate.com.au/property-acreage+semi-rural-tas-tarleton-134021054" target="_blank">130 Tarleton Road </a>(pictured below).</div>
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<div class="column">It features carpeted bedrooms, open dining and kitchen area, undercover entertaining area and double garage. </div>
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<div class="column">Generally, properties under $600,000 are selling within short time frames throughout the greater Hobart locality, the report said. </div>
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<div class="column">The market for properties over the $1 million dollar mark appears to have slowed given the lack of interstate investors.</div>
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<div class="column">"Once the borders open, allowing interstate investors to become active in the market once again, it is believed that this market will improve accordingly," the valuation firm said. </div>
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What a lazy $700,000 can buy in Tasmania: HTW residential 

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<p><span>The Northern Territory is the safest location in the country, being the first state or territory to clinically eradicate COVID-19 and all confirmed cases having now recovered (Health Minister, Natasha Fyles) and no new notifications for some time now, according to the latest 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 borders have been locked down and travel into remote communities has been limited. These strong actions, the small population base and the adherence to the recommendations should position the Northern Territory to respond well in our economic recovery.</span></p>
<p><span>"How has this transitioned to the property sector?", the valuation firm asked. </span></p>
<p><span>Whilst restrictions have now been eased and borders are set to reopen on 20 July, at the height of the crisis, leading local sales agents were reporting a stable level of interest for stock already on the market and open homes were replaced by private appointments – one agent noting that this had led to more qualified buyers coming through and less tyre kickers. </span></p>
<p><span>Real Estate Central has shifted to online auctions using the Gavel app, resulting in a handful of sold dwellings. </span></p>
<p><span>The private treaty sales campaigns have been successful with reigning REINT agent of the year Derek Hart of Elders Real Estate reporting strong activity with private treaty campaigns (source: NT News).</span></p>
<p><span>When considering the pipeline coming forward, it has been noted that appraisals are significantly down and the current activity is from pre-COVID-19 stock.</span></p>
<p><span>The report notes vendors requiring a result are still motivated towards sale, however for many the COVID-19 </span>interruption has postponed planning to later in 2020 with a more cautious wait and see outlook.</p>
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<p><span>"With this activity we have not seen any market reductions that are out of line or increased market reductions as a result of the COVID-19 pandemic, noting that some market sectors have been performing quite poorly due to the wider market forces.</span></p>
<p><span>"Whilst job losses have hit much of the nation heavily, the Northern Territory is fortunately positioned due to a number of factors: we have over 21,500 public servants (source: The Office<br>of the Commissioner for Public Employment), all of whom are still being fully paid and therefore have the ability to support their families," the valuation firm said. </span></p>
<p><span>A further 5,500 are defence personnel (source: Department of Treasury and Finance). This equates to over ten per cent of the total population maintaining full employment.</span></p>
<p><span>In a positive for the market, long term residential tenancies have remained relatively firm.</span></p>
<p><span> The larger agencies have indicated that requests for rent reduction remain quite low and rental arrears have not spiked. The short term tenancy market is very poor.</span></p>
<p><span> Holiday makers have evaporated from the local scene and a number of short stay companies have noted that their forward bookings </span>are very poor and that the 2020 dry season will be a difficult period.</p>
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<p><span>The government stimulus programs have been quite generous; approximately $100 million has been allocated to the Home Improvement Scheme, whereby the government will offer $4,000 with an owner contribution of $1,000 or $6,000 with an owner contribution of $2,000. </span></p>
<p><span>This will help owners improve their properties, which may increase the value of their assets as we move past the COVID-19 slowdown.</span></p>
<p><span> Recent federal government announcements about the Home Builder package (which sees eligible home owners pocket $25,000 on a $150,000 spend), coupled with existing Northern Territory government packages provides a total benefit of up to $45,000. </span></p>
<p><span>"The impact so far is difficult to judge, however anecdotally some builders have seen a significant increase in enquiry," the valuation firm said. </span></p>
<p><span>"So with that all said, where is the Northern Territory market? We are yet to see any firm market evidence that the COVID-19 pandemic has resulted in lower rents or capital values. </span></p>
<p><span>"The big test as we look through the forward lens is the speed at which the economy can recover following the easing of restrictions and border openings," the valuation firm said. </span></p>
<p><span>The report notes as Victoria battles a surge in cases, the threat of an infection in the Territory remains very real and a </span>second wave of infection would see confidence and market sentiment evaporate.</p>
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<p><span>"The main theme for this month’s review focuses on a price point of $700,000 and which property types can be accessed at this level. The answer here in the Top End is - most," the valuation firm said. </span></p>
<p><span>From a three-bedroom unit in the CBD with harbour views, to a four-bedroom, two-bathroom modern dwelling in the developing residential area of Muirhead, to a rural lifestyle property down the track with a shed with all the trimmings in Humpty Doo - this price point delivers some wide and varied property types. </span></p>
<p><span>This has not always been the case and the extent of the growth experienced in the market between 2012 and 2015 and the subsequent cliff it has driven off since is well known.</span></p>
<p><span>A designer family home in Muirhead has recently been sold for $607,500.</span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-nt-muirhead-133923558" target="_blank">12 Saunders Street</a> (pictured below).</p>
<p><span>It features open plan living and dining area, covered alfresco patio, fenced backyard and double lock up garage. </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/2020/7/20/muirhead%202.jpg" alt=""></span></p>
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<p>A current listing is a three bedroom apartment in Darwin City priced at $569,000.</p>
<p>The <a href="https://www.realestate.com.au/property-unit-nt-darwin+city-133902662" target="_blank">4004/27 Woods Street </a>home (pictured below) comprises three bedrooms, two bathrooms, open plan living and dining area and corner balcony. </p>
<p>It also features gourmet kitchen, study space, two-way storeroom and city views.</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/2020/7/20/darwin.jpg" alt=""></p>
<p><span>Naturally, buyers cashed up and bringing a budget of $700,000 to the table are likely to see value for money especially compared to a number of years back. </span></p>
<p><span>"It seemingly presents as an opportunistic time to purchase across many property types. It’s not only the safest place in Australia to live during a pandemic, but economically viable – how much worse can our economy get?</span></p>
<p><span>"Surely there is only upside in the Northern Territory – it’s a safe bet." </span></p>
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What a lazy $700,000 can buy in Northern Territory: HTW residential 

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<p>Dominated by project-style homes on 250 to 500 square metre allotments, $700,000 goes a very long way in Brabham, 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>Up in Perth’s north-east, Brabham is a developing suburb 17 kilometres from the CBD, the report noted. </p>
<p>"Unless you’re looking at the few 2,000 square metre allotments along Park Street, Brabham’s ceiling is around the $600,000 price point," the valuation firm said. </p>
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<p>The median house price in Brabham settled at $380,000 for the March 2020 quarter, falling 6.2 per cent over the year.</p>
<p><a href="https://www.realestate.com.au/property-house-wa-brabham-133785146" target="_blank">47 Cob Road, Brabham</a> (pictured above) has recently been listed on realestate.com.au. </p>
<p>Asking $579,000, this four- bedroom, two-bathroom home was built circa 2013 and boasts a cedar lined, gabled alfresco with timber decking, outdoor seating and pool, built on a 512 square metre allotment.</p>
<p>Essentially, with $700,000 you could build a large family home to a good standard, with good quality ancillary improvements and you would still have a bit of change left over, the report noted. </p>
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<p>Moving seven kilometres north of Brabham, The Vines presents plenty of options around the $700,000 range. </p>
<p>The report notes the median house price settled at $631,250 for the March 2020 quarter, falling 3.6 per cent since a year previous. </p>
<p>Development in The Vines began around 1990 as a Country Club Estate, centred around two 18-hole golf courses which traverse the suburb. </p>
<p>"Properties here consist mostly of larger allotments of between 2,000 and 5,000 square metres, but more recent development has seen a number of 400 to 800 square metre lots available for purchase," the valuation firm said. </p>
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<p><a href="https://www.realestate.com.au/sold/property-house-wa-the+vines-132759214" target="_blank">27 Tolladine Vista</a> (pictured below) in The Vines sold in March for exactly $700,000 after 59 days on the market.</p>
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<p>The 807 square metre allotment directly faces The Vines Golf Course and is improved with a circa 2007 home providing four-bedroom, two-bathroom accommodation with a double garage. </p>
<p>Ancillary improvements include a pool and alfresco.</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/2020/7/20/the%20vines.jpg" alt=""> </p>
<p>Travelling further north to Lower Chittering, it is common for purchasers to be driven by land for animals or equestrian purposes, the report said. </p>
<p>Good sized family homes are available here however a lot of value is taken up by ancillary items such as fenced, cleared paddocks or stables, the report noted. </p>
<p>34 Charolais Trail (pictured below) breaks our budget by $50,000 but is a good example of what product is available. </p>
<p>Selling in April 2020 for $750,000, this property is improved with two dwellings. </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/2020/7/20/chittering.jpg" alt=""></p>
<p>The first is a four-bedroom, two-bedroom family home built circa 2013. </p>
<p>The second dwelling is a two-bedroom, one-bathroom granny flat with a kitchen. </p>
<p>Other improvements include two large rain water tanks, portable bore, established gardens, pet yard area, swimming pool, powered workshop, machine storage shed and horse stables.</p>
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What a lazy $700,000 can buy in north-east Perth: HTW residential 

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<p>The median house price of Hillarys recorded in the March quarter was $750,000, a two per cent fall compared to the previous year, 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>Hillarys is a suburb 23 kilometres north-west of the Perth CBD and is located along the coastline of the state.</p>
<p>It includes the attraction of Hillarys Marina consisting of popular cafes and restaurants.</p>
<p>The report notes the suburb consists mainly of dwellings at 88.9 per cent of the suburb’s property types, with some dated from circa 1970 onwards.</p>
<p>Sections of the suburb have recently undergone zoning changes, which have seen developments and subdivisions increase within the suburb.</p>
<p>For example, <a href="https://www.realestate.com.au/sold/property-house-wa-hillarys-132693562" target="_blank">3 Nash Street, Hillarys </a>(pictured below) sold for $740,000 in February.</p>
<p>The property is a circa 1972 renovated four-bedroom, two-bathroom dwelling with a double carport situated on a 754 square metre block.</p>
<p>The dwelling has 248 square metres of living area and externally there is a below ground pool and gable patio.</p>
<p>The land is zoned Residential R20/60 and has confirmation from the local council that the property has subdivision potential of four to five lots.</p>
<p>Along with the subdivision potential, the existing house is also in a good condition to rent out for a set period of time and benefits from parkland access to the rear of the property.</p>
<p>Currently the median rental for a four-bedroom property in Hillarys is $560 per week as at 15 June.</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/2020/7/17/hillarys%20.jpg" alt=""> </p>
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<p>Scarborough is a suburb located 13 kilometres north-west of the Perth CBD and is the location of one of Perth’s most iconic beaches. </p>
<p>In 2017, a redevelopment was undertaken on the Scarborough foreshore area with over $54 million being spent by the state government and local council to revitalise the area in order to improve its reputation and create a new family oriented destination. </p>
<p>The suburb has a diverse range of options for property types for people looking to enter the suburb, which mainly consists of villas and townhouses covering over 50 per cent of all properties.</p>
<p>Old character dwellings that have been completely renovated to a modern standard,  circa 1940s onwards, are also available and would represent the best value currently for $700,000 in this market.</p>
<p>The median house price for the suburb for the March quarter was $736,000, which was only a 0.8 per cent decrease from the previous year.</p>
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<p>129 Burniston Street, Scarborough (pictured below) sold in April for $727,500, having been on the market for 40 days. </p>
<p>The dwelling is a fully renovated circa 1948 street facing survey strata three-bedroom, two-bathroom dwelling with a secure double carport situated on a 370 square metre block.</p>
<p>The renovations completed on this property retained the character of the home and provide a modern and traditional style of living that is highly sought after in this pocket of the suburb.</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/2020/7/20/scarborough%201.jpg" alt=""> </p>
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<p>Located 17 kilometres north-west of Perth, Duncraig is a suburb that will offer buyers an abundance of options for the $700,000 budget, with a number of four-bedroom, two-bathroom family homes being offered in the market. </p>
<p>The March quarter had the median house price of the suburb at $656,000 which was a 2.8 per cent decrease compared to this time last year. </p>
<p>"In the suburb you can find properties dating back to circa 1970s that have been renovated and are on generous sized blocks perfect for families," the valuation firm said. </p>
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<p>In January, 8 Mohonia Place, Duncraig sold for $722,000 having been on the market for 12 days. </p>
<p>The property is a circa 1987 renovated four- bedroom, two-bathroom dwelling with a double garage situated on a 705 square metre block.</p>
<p>It offers 170 square metres of living area with a recently renovated kitchen and master bathroom as well as a spacious entertaining area outside with a gable patio and below ground pool. </p>
<p>"This is just one of many examples of four-bedroom, two-bathroom dwellings offered within the suburb at an affordable option in a great location," the valuation firm said. </p>
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