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


Joel Robinson

The apartment price gap drawing Sydney buyers west

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


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

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


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

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


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

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


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

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<p>Anecdotal evidence suggests that the supply of new stock being brought to Townsville market remains low as potential sellers hold off listing properties in the current environment, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p>"We are continuing to see sales occur, albeit at lower volumes compared to pre-COVID-19 and to date value levels appear to be holding," the valuation firm said. </p>
<p><span>The report states over the past 12 months there has been a noticeable increase in the number of house flippers in the market, typically operating within the five to eight kilometre radius of the city centre in suburbs such as Railway Estate, Currajong and Gulliver.</span></p>
<p><span> The buy in price for homes with renovation potential in these areas is typically in the low $200,000s with end values created in the high $200,000s to mid </span>$300,000s depending on the extent and quality of the works undertaken.</p>
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<p><span>"The rise in popularity of lifestyle home renovation shows such as House Rules and The Block are also contributing to the increase in renovation projects being undertaken by home owners," the </span>valuation firm said.</p>
<p>The reason behind this increase could be contributed in part to the change-over cost from their current home to an upgraded property, the report suggested. </p>
<p>Furthermore, location seems to be a factor in the decision to renovate. Owners not wanting to take a gamble on location by moving are opting to stay where they are and renovate to accommodate their changing circumstances.</p>
<p>"Apart from upgrades to kitchens and bathrooms, we are seeing decks and outdoor living spaces added and house extensions to create more living space and utility," the valuation firm said. </p>
<p><span>"The renovator market is likely to continue tracking on its current course during 2020 with the cost of borrowing remaining low and a preference from buyers at this time for renovated properties requiring little work with the age old saying of 'I’d rather be opening a can of beer (or bottle of wine), than a can of paint' ringing true," the valuation firm said. </span></p>
<p><span>A renovated Queenslander cottage in South Townsville has recently been sold for $330,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-qld-south+townsville-133215230" target="_blank">36 Nelson Street</a> home (pictured below) comprises three bedrooms, functional kitchen, study and expansive undercover patio area. </p>
<p><span>It features renovated bathroom, split air-conditioning and electric controlled gate. </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/2020/6/29/south%20townsville%20.jpg" alt=""></span></p>
<p> </p>
<p>A current listing is a three bedroom house in Railway Estate. </p>
<p>The <a href="https://www.realestate.com.au/property-house-qld-railway+estate-133779006" target="_blank">71 Ninth Avenue</a> home (pictured below) comes with refurbished kitchen, renovated bathroom, open plan living and three generous bedrooms. </p>
<p>It also features fresher painted interior and exterior, rumpus room, and traditional features including high ceilings and light timber floorboards. </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/2020/6/29/railway%20estate.jpg" alt=""></p>
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j.ballantyne1990-6AQqhLzZaK

Townsville renovators prefer properties requiring little work: HTW residential 

What a lazy $700,000 can buy in Perth: HTW

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<p><span>With restrictions easing on 15 May, Queensland saw relaxations for the real estate industry, 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>"There’s plenty to dig into for this month’s topic but first, a quick update on how our market is tracking," the valuation firm said. </span></p>
<p><span>In-house auctions can now be conducted with ten members of the public present and a maximum of three agency representatives running the auction. </span></p>
<p><span>Open home inspections can be carried out with a maximum of ten people allowed access. Names, addresses and mobile numbers must be taken by agency staff of any attendees for contact tracing purposes too.</span></p>
<p><span>"The easing of restrictions has seen an increase in listings and more activity at open homes. We have, however, yet to see evidence of changing transaction volumes or price movements. </span></p>
<p><span>"That said, it is worth noting that Brisbane’s economy remains well placed for the future given the state’s low infection rate and slow-but-steady opening of businesses," the valuation firm said. </span></p>
<p><span>"We note with some interest that subject to there being no second wave of infection, analysts remain optimistic of Brisbane’s property market remaining stable and likely for long-term recovery from this point on," the valuation firm said. </span></p>
<p><span>"So, how should you spend that lazy $700,000?</span></p>
<p><span>"First up, let’s talk about who is buying at this price point. We are seeing activity from owner-occupiers, investors, upgraders, families and some first homeowners.</span></p>
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<p><span>"That’s right! Pretty much every buyer type is represented in some form," the valuation firm continued. </span></p>
<p><span>Next, let’s see where you might spend this handsome chunk of change.  </span>$700,000 will get you within reasonable proximity of the CBD, the report noted. </p>
<p><span>For example, the desirable northern suburbs of Hendra, Wooloowin and Clayfield all have entry- level pre- and post-war dwellings on 405 square metres in secondary locations within this price point. </span></p>
<p><span>"If you want to be within these desirable addresses and need something a bit newer, consider a new or near-new townhouse with three-to-four bedroom, two-bathroom, two-car accommodation," the valuation  firm said. </span></p>
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<p><span>In locations such as Gordon Park, Stafford and Kedron, a detached dwelling on 405 square metres would be a good option. </span></p>
<p><span>"In fact, we consider this a very strong market sector at present with good capital growth potential. If you have the money and are keen to invest, put these suburbs on your shortlist," the valuation firm said. </span></p>
<p><span>Windsor, Wilston and Newmarket are well-serviced, inner-north addresses popular with families. There are some stunning residences here, however at this price point you’re likely to buy a modern townhouse that will have good value growth potential over the long term, the report noted. </span></p>
<p><span>Heading south and the Carina and Carindale areas provide opportunity. A 1970 to 1980 </span>high-set style dwelling with three-bedroom, one-bathroom accommodation and in good condition will be within your price range.</p>
<p>"If you need another bedroom, it’s still possible to buy at $700,000, but you might need to settle for a secondary position," the valuation firm said. </p>
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<p><span>"Other addresses south of the river and within striking distance of this price point are Coorparoo, Camp Hill and Hawthorne, but you may have to settle for something on a busy road or small lot and you’re likely to find just two-bedders within the budget. Suffice it to say, you’re looking for an eager seller if this is your patch and price point," the valuation firm said. </span></p>
<p><span>As mentioned earlier, the Coronavirus crisis has not resulted in a measurable fall in property prices across the Brisbane market generally and $700,000 is a solid value band, the report noted. </span></p>
<p><span>As such, don’t expect to score a bargain due to the pandemic. A lack of listings means buyer choice is limited. In addition, many properties are trading off-market.</span></p>
<p><span>"So, what might offer excellent bang-for-buck at $700,000 in Brisbane?</span></p>
<p><span>"Our advice is usually to purchase as close as possible to the CBD for your budget. And in most cases, choose detached housing over and above attached housing and units. But at $700,000, your options are limited when it comes to suburbs within a five-kilometre radius of town," the valuation firm said. </span></p>
<p><span>As such, choose fringe to mid-ring suburbs within close proximity to school catchments, amenities and public transport. You will also get larger housing lots for your budget in suburbs a bit further out, the report noted. </span></p>
<p><span>"Our initial thoughts at this price point would be a reasonable quality home in Carina or Wynnum. Something on a circa 600 square metre allotment with an older highset dwelling to a good standard," the valuation firm said. </span></p>
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<p><span>Gordon Park, Stafford and Kedron and their detached dwellings on 405 square metre lots are good options too. This is a buoyant part of the market at the moment and has good potential to achieve capital growth.</span></p>
<p><span>A current listing is a three bedroom house in Kedron with a price guide of $649,000.</span></p>
<p>Set on a 415sqm block, the <a href="https://www.realestate.com.au/property-house-qld-kedron-133701926" target="_blank">12 Howell Street</a> home (pictured below) comprises three bedrooms, open plan living and dining space, covered deck and double garage. </p>
<p><span>It is situated within walking distance to local schools, shops and cafes. </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/2020/7/13/kedron.jpg" alt=""></span></p>
<p><span>Also – for cash flow investors, have a look in the mid-to-fringe areas for duplex, dual occupancy or multi-unit/flat properties. These structures are still available within the dollar amount and the gross returns can be very strong.</span></p>
<p><span>"If you have your heart set on buying an apartment, then act with caution," the valuation firm said. </span></p>
<p><span>New apartments in mid-ring localities as well as investment product throughout Brisbane should be viewed as medium-to-high risk even though they offer a lower price point in comparison </span>to single unit dwellings. There’s still a large supply hanging over from previous years’ excess development and a softening in values is evident for off-the-plan purchases.</p>
<p><span>In short, capital growth in investor style units is highly unlikely in the short term, the report suggested. </span></p>
<p>For example,<a href="https://www.realestate.com.au/sold/property-apartment-qld-cannon+hill-132163162" target="_blank"> Unit 511/22 Andrews Street, Cannon Hill </a>(pictured below) just sold for $375,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/cannon%20hill.jpg" alt=""></p>
<p><span> It was previously </span>purchased for $417,500 in October 2017. That’s a pretty hefty discount of 9.7 per cent over an almost three-year period, the report noted. </p>
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<p><span>Instead of new, consider an older apartment with renovation potential in a good location with transport and amenities nearby.</span></p>
<p><span>Finally, $700,000 invested in Brisbane property will probably achieve a gross rental yield of around four to five per cent. </span></p>
<p><span>For example, detached houses and townhouses in Gordon Park, Stafford and Kedron achieve circa $550 per week.</span></p>
<p><span>"The future of property at this price point looks stable over the next couple of market cycles, although caution is required in the short-to-mid term under current market conditions. There’s still too much uncertainty out there at present," the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Brisbane: HTW residential 

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<p><span>On the back of strong market activity in the latter part of 2019, the market has remained resilient under exceeding pressures, generating a 0.4 per cent increase in dwelling values in 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 since 22 April, South Australia has recorded only two new COVID-19 cases, both of which were imported.</span></p>
<p><span>With tight border security and strict social distancing measures implemented early, the state has essentially eradicated the virus locally.</span></p>
<p><span> Social distancing restrictions have continued </span>to ease and from 29 June, venue capacities will be increased to one person per two square meters without a limit on capacity. This has been positive news for the labour market after the unemployment rate climbed to 7.9 per cent in May.</p>
<p><span> Auction data for the week ending 21 June indicated a clearance rate of 65 per cent from 41 auctions; at the same time last year, the clearance rate was 53 per cent from 106 auctions. </span></p>
<p><span>The data suggests that stock levels are low as vendors remain reluctant </span>to dip their toes back into the market whilst buyer activity remains strong.</p>
<p>"Agent feedback supports this trend with many reporting limited stock but buoyant sales activity over the past four weeks," the valuation firm said. </p>
<p><span>The most recent CoreLogic data suggests that the tide however could be turning. </span>In the second week of June, the Hedonic Price Index suggested property values in South Australia have entered the initial stages of a decline cycle. This data will continue to be reviewed in the short to medium term to gain a greater understanding of where the market is heading.</p>
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<p><span>The report notes in a market with a median house price of $480,000, a lazy $700,000 goes a long way. This price point is considered to be representative of the middle and inner rings where suburban median house prices range between $600,000 and $800,000. </span></p>
<p><span>"Owner-occupiers and cashed up investors are most active at this price point with low interest rates making a $700,000 purchase more accessible to the broad market," the valuation firm said. </span></p>
<p><span>Gross yields of four per cent are typical at this price level, which is considerably below the seven to nine per cent achievable in the outer ring. What this market lacks in rental return is made up for in capital gains as the inner and middle rings have historically been the best performing for capital gains.</span></p>
<p><span>Turn of the century character dwellings are considered the best performing property type at this price point, the report noted. </span></p>
<p><span>Properties of this nature are forever exceeding expectations when it comes to achievable price levels, are popular with the rental market and provide the greatest prospects for capital growth over the long term.</span></p>
<p><span>Well serviced suburbs within the inner portion of the middle ring, five to seven kilometres from the CBD, are considered to provide the best prospects for growth at this price point in the long term. </span></p>
<p><span>Prospect to the north, Felixstow to the north-east, Cumberland Park to the south and Lockleys to the west have the attributes fitting the required mould.</span></p>
<p><span>Prospect is located five kilometres north of the Adelaide CBD and is characterised by early 1900’s dwellings on a mixture of allotment sizes ranging from low to high density. </span></p>
<p><span>The suburb runs north-</span>south and has a number of sub markets. Price levels can vary street by street with the most noticeable differential being the portion of the suburb located north of Regency Road.</p>
<p>The suburb is serviced by the Prospect Road retail and food and beverage precinct and is located in close proximity to the northern Adelaide Parklands.</p>
<p>Prospect has seen strong growth over the past four years and currently has a median house price of $710,000, the report noted. </p>
<p>Characterising this price point is the sale of <a href="https://www.realestate.com.au/sold/property-house-sa-prospect-133353898" target="_blank">36 Da Costa Avenue </a>(pictured below) which achieved a sale price of $685,000 after an eight week marketing campaign.</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/2020/7/13/prospect%20.jpg" alt=""></p>
<p>This property provides a well presented and updated brick bungalow disposed as three bedrooms and one bathroom on a 500 square metre allotment.</p>
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<p><span>Felixstow is located 6.5 kilometres north-east of the Adelaide CBD and is characterised by 1950’s to 1970’s brick dwellings on medium to low density allotments. </span></p>
<p><span>The suburb is currently going through a period of urban renewal kicked off by the sale of 83 housing trust homes in late 2018. This suburb is located in proximity to the Marden Shopping Centre </span>and Klemzig O-Bahn Busway interchange.</p>
<p>Of most appeal to this suburb is the recently refurbished Felixstow Reserve and proximity to Linear Park. Felixstow has a current median house price of $600,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/flexistow%201.jpg" alt=""></p>
<p>Selling for $695,000 and $701,000 respectively are: <a href="https://www.realestate.com.au/sold/property-house-sa-felixstow-132517970" target="_blank">5 Kapoola Avenue</a> (pictured above), a development site comprising a single level brick dwelling on 850 square metres; and <a href="https://www.realestate.com.au/sold/property-house-sa-felixstow-133351886" target="_blank">38a Laver Street</a> (pictured below), a circa 2016 four-bedroom, two-bathroom dwelling on 440 square metres, representative of the property types available at this price level.</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/2020/7/13/felixstow%202.jpg" alt=""></p>
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<p><span>Cumberland Park is located six kilometres south of the CBD and is characterised by early to mid- century dwellings on medium to large allotments. This suburb is located in proximity to a number of major transport routes providing direct access to the CBD, Adelaide Hills, Fleurieu Peninsula and metropolitan beaches.</span></p>
<p><span> The report notes the suburb has become popular with young families and has a current median house price of $713,000. </span></p>
<p>The sale of<a href="https://www.realestate.com.au/sold/property-house-sa-cumberland+park-133277574" target="_blank"> 6 Narinna Avenue </a>(pictured below) for $730,000 is representative of this price level. The property comprises a partially renovated circa 1960’s cream brick dwelling disposed as three bedrooms and two bathrooms. The property has well landscaped yards and a land area of 734 square metres.</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/2020/7/13/cumberland%20park.jpg" alt=""></p>
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<p><span>Established in the mid 1950’s, Lockleys is located seven kilometres west of the CBD and comprises a mixture of mid to late 19th century homes and newer infill development. Henley Beach Road intersects the suburb, providing direct access to both the CBD and metropolitan beaches.</span></p>
<p><span> Located adjacent to Kooyonga Golf Club and sharing </span>its northern boundary with Linear Park, the suburb has historically been popular with older professionals.</p>
<p>Price levels can vary between the northern and southern portion of the suburb, which has a current median house price of $650,000.</p>
<p>Both 10 Kingswood Crescent and 31A Lorraine Avenue, which achieved sale prices of $710,000 and $715,000 respectively, are representative of the infill development occurring.</p>
<p>Both properties comprise single level detached dwellings disposed as three bedrooms, two bathrooms and a double garage on 400 square metre allotments.</p>
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<p><span>"With low stock levels, demand at this price point should remain resilient in the short to medium term. This should provide confidence for both vendors and purchasers looking to throw their hats into the ring whilst navigating through COVID-19 turbulence," the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Adelaide: HTW residential 

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<p>With current market conditions and in light of the recent events of COVID-19, a lazy $700,000 can go a long way in areas of Melbourne’s CBD and city fringe suburbs, 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> Recent figures show that the median unit price for the CBD, Southbank and Docklands were $480,000, $575,000 and $609,000 respectively. </span>It is truly a buyer’s and renter’s market for those looking in these areas, the report noted. </p>
<p>A north facing corner apartment in Melbourne CBD with bay views has recently been sold for $620,000.</p>
<p>The two bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-133816594" target="_blank">3017/220 Spencer Street</a> (pictured below mel ). </p>
<p>It features floor-to-ceiling windows, quality carpet throughout and large balcony. </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/2020/7/13/mel%20.jpg" alt=""></p>
<p>A new listing is a two bedroom South Bank apartment priced between $540,000 to $570,000.</p>
<p>The <a href="https://www.realestate.com.au/property-apartment-vic-southbank-133959162" target="_blank">204/173 City Road</a> apartment (pictured below) comes with living and dining area, black granite kitchen, and balcony with water views. </p>
<p>It is set in a corner position on the 20th floor of the Melbourne Tower complex. </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/2020/7/13/southbank.jpg" alt=""></p>
<p><span>"The global pandemic has definitely shaken up the rental market in the CBD and fringe suburbs," the valuation firm said. </span></p>
<p><span>Many tenants are international students unable to fly back into Australia due to travel restrictions, resulting in a spike in vacancy rates. This has left </span>landlords nervous as this may cause a strain on their mortgage repayment ability for the property.</p>
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<p><span>"We are also seeing quite a number of nomination sales in the CBD market," the valuation firm said. </span></p>
<p><span> A nomination/nominee sale is when someone who has purchased a property can transfer to another purchaser or nominee prior to settlement. </span></p>
<p><span>When a purchaser cannot settle, the purchasers will be given the opportunity to find a new purchaser to have the contract transferred in their name and finalise the settlement. </span></p>
<p><span>This generally happens due to the buyer not having access to funds to settle (mostly due to banks not approving loans or other government restrictions for capital outflow). </span></p>
<p><span>"With Coronavirus also impacting the rental market, purchasers of these properties have less incentive to settle on these apartments, which will also result in them forfeiting their original deposits," the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Melbourne CBD: HTW residential 

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<p>The past month has seen a number of restrictions being eased which has seen activity begin to increase in the Sydney market, 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 notes auction numbers have steadily increased and the number of auctions is now in line with the same period last year when the market was beginning its recovery from the previous downturn.</p>
<p>Clearance rates are tracking above this time last year but are still below those being achieved in February and March prior to the COVID-19 lockdowns.</p>
<p><span>Despite activity increasing, according to CoreLogic the number of new properties listed for sale is down 6.6 per cent on this time last year, while the number of total listings is down 21.2 per cent. </span></p>
<p><span>"This lack of stock is likely insulating prices somewhat, although we are now seeing the Sydney median </span>price starting to decline, down 0.3 per cent in the week ending 21 June and down 0.8 per cent in the month ending at that date," the valuation firm said. </p>
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<p><span>"We are still seeing some strong results in the market with quality product still generally performing quite well," the valuation firm added. </span></p>
<p><span>The lack of stock has seen quality homes continue to do well in the COVID-19 property market. </span></p>
<p><span>Pagewood, located eight kilometres from the Sydney CBD, has seen strong results with two suburb records in May.<br></span></p>
<p>A dwelling at 24 Macarthur Avenue, Pagewood sold for the suburb record of $3.15 million and a brand new duplex at<a href="https://www.realestate.com.au/sold/property-house-nsw-pagewood-133173110" target="_blank"> 58a Ocean Street, Pagewood</a> (pictured above) sold for $2.17 million.</p>
<p><span> Local agents are also taking advantage of their buyer database which in one case led to an off market sale of 138 Bay Street, Pagewood for $2.625 million.</span></p>
<p>Another record sale of $2.205 million was recorded in Beaumont Hills for<a href="https://www.realestate.com.au/sold/property-house-nsw-beaumont+hills-133062354" target="_blank"> 37 Guardian Avenue</a> (pictured below).</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/2020/7/13/beaumont%20hills%20.jpg" alt=""></p>
<p><span>This property is a six-bedroom, four-bathroom, contemporary style dwelling with excellent street appeal and quality finishes and ancillaries such as an indoor pool and outdoor kitchen with a land size of 838 square metres. </span></p>
<p><span>With a suburb median of $1.165 million, this record sale is almost double the median value.</span></p>
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<p><span>In the prestige space, above $5 million, the limited number of transactions has made it difficult to ascertain how this market is performing since the COVID-19 lockdowns, the report noted. </span></p>
<p><span>A recent Vaucluse sale of a modest single level home, set slightly back from the water with expansive harbour views towards the city and Harbour Bridge, may be a sign of the market having softened. </span></p>
<p><span>The property just sold for $10.9 million in June, having previously sold just under 12 months ago for $11.8 million according to CoreLogic.</span></p>
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<p>On the flip side, Middle Dural recorded a record breaking sale in April at <a href="https://www.realestate.com.au/sold/property-house-nsw-middle+dural-132107638" target="_blank">52A Cranstons Road</a> (pictured below), 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/2020/7/13/middle%20dural.jpg" alt=""></p>
<p>The property is a five-bedroom, four-bathroom executive style dwelling with extensive landscaping, inground pool and a tennis court with a land size of 1.44 hectares.</p>
<p>The property sold through LJ Hooker Dural, with the price currently confidential, however reports have suggested an $8 million plus figure which is a significant result for a sub two- hectare block.</p>
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<p><strong>A Lazy $700,000</strong></p>
<p><span>In a property market as diverse as Sydney, $700,000 is going to buy you very little in some parts whilst in others it can still mean a good quality home on a decent sized block of land. </span></p>
<p><span>"We’ve gone around the grounds to show the type of property you would be looking at for this price point in some of the regions in Sydney," the valuation firm said. </span></p>
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Sydney market sees increasing auction numbers: HTW residential 

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<p><span>Renovation is a hot topic at the moment through the northern corridor and southern Logan suburbs, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"Particularly for home occupiers who have experienced a reduction in work, COVID-19 has presented an opportunity for some to finally get around to those renovation works or cosmetic improvements that have been put on the back burner for the past three, five or maybe even ten years," the valuation firm said. </span></p>
<p><span>The report notes so far, suburbs such as Upper Coomera, Ormeau and Beenleigh have seen a rise in the number of houses currently undergoing or recently having completed renovations or minor cosmetic work, some with the intention of increasing their equity, others erring on the side of over capitalisation.</span></p>
<p><span>A renovated family home located in the heart of Upper Coomera was sold for $470,000 in May. </span></p>
<p>The house at <a href="https://www.realestate.com.au/sold/property-house-qld-upper+coomera-133278734" target="_blank">13 Manassa Street </a>(pictured below) comes with four bedrooms, modern kitchen, outdoor alfresco area and double garage. </p>
<p><span>It is situated within close proximity to the new Westfield and theme parks. </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/2020/6/22/upper%20coomera.jpg" alt=""></span></p>
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<p><span>"Over-capitalisation isn’t a worry to some, particularly rural residential property owners in the south and south-west Logan areas, as some people would prefer to invest their spare cash into their </span>current property and avoid the hassle of moving house due to upgrading and relocating," the valuation firm said. </p>
<p>A current listing is a four bedroom house on 2 hectares located in South Maclean. </p>
<p>The family home at<a href="https://www.realestate.com.au/property-house-qld-south+maclean-133825702" target="_blank"> 218 Pennine Drive</a> (pictured below) comes with renovated kitchen, large family room and outdoor living areas.</p>
<p>It also features animal shelters, storage shed, and colour bond shed with workshop. </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/2020/6/22/south%20maclean%201.jpg" alt=""></p>
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<p><span>"Over the past two months, we have seen owners begin to undertake small scale projects such as retaining walls, concreting, new sheds and landscaping and even renovation or extension projects amounting to up to $325,000 and everything in between.</span></p>
<p><span>"While we have so far noticed only a small increase in current or recently completed renovation projects, this is a popular topic and people are spending more time at home at the moment, so this trend is likely to increase," the valuation firm added. </span></p>
<p><span>Buyers are quite cautious at the moment and properties requiring work sell for a significantly discounted price, so while the market might present some opportunities to pick up a discounted renovator, as a buyer, caution is to be exercised as the future of the property market and economy remains uncertain, the report noted. </span></p>
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North Gold Coast sees a rise in home cosmetic improvements: HTW residential 

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<p><span>In the Gold Coast north-east area from Southport to Hope Island and out to the M1, home renovation works appear to be on the rise, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>The report notes investors conducting any more than cosmetic works such as painting and floor coverings are rarely seen, resulting in the owner-occupiers conducting the majority of renovation works.</span></p>
<p>"These owner-occupiers are opting to renovate rather than relocate, with the supplementary aim of manufacturing equity within their property," the valuation firm said. </p>
<p>The central and north location is an established area and discussions with home owners conducting renovation works is that they like the area in which they live and for the cost of relocation, the decision to renovate or extend their existing dwelling is a more desirable option.</p>
<p><span>Furthermore, in areas such as Southport and Labrador, the option to increase income through granny flat extensions or to build in self-contained flats underneath high set homes is also being exercised due to the opportunity of an increased yield on the property, the report noted. </span></p>
<p><span>A renovated ground floor apartment in Southport has recently been sold for $230,000.</span></p>
<p>The apartment at<a href="https://www.realestate.com.au/sold/property-unit-qld-southport-133556622" target="_blank"> 3/3-5 Norman Street </a>(pictured below) comprises one bedroom, one bathroom, separate laundry and updated kitchen. </p>
<p>It is situated within a managed complex with in ground pool and 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/2020/6/22/southport.jpg" alt=""></p>
<p>A new listing is a large renovated duplex in Labrador priced at $775,000.</p>
<p>The six bedroom, four bathroom home is situated at <a href="https://www.realestate.com.au/property-house-qld-labrador-133806574" target="_blank">1&amp;2/248 Central Street </a>(pictured below).</p>
<p>It comes with renovated kitchen, courtyard and parking space for 6 cars. </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/2020/6/22/labrator.jpg" alt=""></p>
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<p><span>At present, due to COVID-19, the current economic climate appears to be uncertain with limited quality properties on the market and owner-occupiers choosing to use their spare time to improve their homes, in which they are spending more time.</span></p>
<p><span>"However, we do caution renovators not to over capitalise as cost does not necessarily equal value. Be mindful of the median price point in your area as well as what drives purchasing decisions for the broader market," the valuation firm said. </span></p>
<p><span>"For example, installing a $10,000 water feature in a $400,000 house may not equate to a good return on investment if you plan to sell the property in the short to medium term.</span></p>
<p><span>"A recommended exercise is to outline your renovation plans and then look, with an unbiased opinion, at recent sales in the area similar to your proposed plans in order to justify the expense you are considering." </span></p>
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Home renovation works on the rise in Gold Coast North East: HTW residential 

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<p><span>Whilst there is still a degree of uncertainty in the market, a growing number of home owners in the central Gold Coast area are preferring to wait out this period before putting their property up for sale, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggest in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"The lockdown has certainly provided us with a great opportunity to take care of any maintenance issues and even make some cosmetic improvements to our property investments," the valuation firm said. </span></p>
<p><span>The report notes to date it has been the budget-conscious owner- occupier looking to take this time to complete some renovation work.</span></p>
<p><span> Many of these owner-occupiers are only completing small scale DIY cosmetic </span>work (ie. new paintwork, general repairs) and are not looking to spend too much money on trades.</p>
<p>Owner-occupiers who are carrying out larger scale renovation works on their properties at the moment are generally people with building skills or who work in the construction industry.</p>
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<p><span>"Local agents actively selling in the central Gold Coast area have reported that even though stock levels are low and demand levels have remained fairly steady, properties are generally taking longer to sell now.</span></p>
<p><span>"They advise that buyers are becoming more discerning as there is less urgency in the marketplace at the moment compared with last year," the valuation firm said. </span></p>
<p><span>Interestingly, the overall presentation of a property is becoming more of a critical issue, the report noted. <br></span></p>
<p><span>"Some agents in Broadbeach Waters recently noted that if the property is not well presented or has some outstanding repair issues, it could result in a significantly discounted sale price, so there may not be a better time to get those odd jobs done around the house!" the valuation firm said. </span></p>
<p><span>A renovated unit located in the heart of Broadbeach has recently been sold for $680,000.</span></p>
<p>The beachside home at <a href="https://www.realestate.com.au/sold/property-house-qld-broadbeach-133595050" target="_blank">1/20 Britannia Avenue </a>(pictured below) comes with open plan living and dining, three bedrooms, chef's kitchen and lock up garage. </p>
<p><span>It also features private courtyard, additional undercover car space and separate toilet. </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/2020/6/22/broadbeach%201.jpg" alt=""></span></p>
<p>A current listing is a three bedroom house in Broadbeach Waters priced at $1.1 million. </p>
<p>The waterfront home at <a href="https://www.realestate.com.au/property-house-qld-broadbeach+waters-133635442" target="_blank">4 Alvarado Court</a> (pictured below) has been renovated. </p>
<p>It features open plan living, kitchen with granite island bench, entertainment deck and zen garden. </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/2020/6/22/broadbeach%20waters.jpg" alt=""></p>
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Central Gold Coast sees small scale renovation work during COVID-19: HTW residential 

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<p><span>The past few months have shown little evidence of declines in values in the Bundaberg region, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>The report notes properties are still being listed and sold and being refinanced.</span></p>
<p><span>This is due mainly to the limited number of COVID-19 cases in the region and hopefully with the recent easing of restrictions, this confidence should remain.</span></p>
<p><span>"We are very much like the Hervey Bay market when it comes to renovations," the valuation firm said. </span></p>
<p><span>Bundaberg renovations have actively slowed over the past few months as consumers appear to be conserving their dollars. </span></p>
<p><span>"Judging by the local Bunnings carpark, locals </span>seem to be doing odd maintenance jobs around the house and yard instead of major renovations. Local builders have reported that the demand for new owner-occupier homes remains consistent," the valuation firm said. </p>
<p>A renovated house in Walkervale has recently been sold for $220,000.</p>
<p>The home at <a href="https://www.realestate.com.au/sold/property-house-qld-walkervale-133800338" target="_blank">121 Barolin Street</a> (pictured below) comes with three bedrooms, sunroom, renovated gourmet kitchen and fully renovated bathroom. </p>
<p>It also features new roof, new gyprock ceilings and low maintenance gardens. </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/2020/6/22/walkervale%20.jpg" alt=""></p>
<p>A current listing is a renovated two bedroom unit in Bundaberg South. </p>
<p>The unit at <a href="https://www.realestate.com.au/property-unit-qld-bundaberg+south-133626926" target="_blank">1/46 George Street </a>(pictured below) has been listed for sale with over $169,000 hopes.</p>
<p>It features open plan kitchen and living area, private courtyard 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/2020/6/22/bundaberg%20N.jpg" alt=""></p>
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