<p><a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.</p>

<p>The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.</p>

<p>Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.</p>

<p>The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.</p>

<p>The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments</p>

<p><img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" /></p>

<p>Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.</p>

<p>But one of the biggest components of the proposal is what sits between the buildings.</p>

<p>Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.</p>

<p>The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.</p>

<p>Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.</p>

<p>SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.</p>

<p>The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.</p>

<p>The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.</p>

<p>Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.</p>

<p><img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" /></p>

<p>SP Setia plans to deliver the development across three stages.</p>

<p>Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.</p>

<p>If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

<p>Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.</p>

<p>Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.</p>

<p>The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.</p>

<p>“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.</p>

<p>"Eight residences is exceptionally boutique, but that's precisely what this site calls for.</p>

<p>“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”</p>

<p><img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" /></p>

<p>The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.</p>

<p>The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.</p>

<p>The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.</p>

<p><img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" /></p>

<p>The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.</p>

<p>It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.</p>

<p>Heritage has subsequently played a significant role in Cera Stribley's design.</p>

<p>The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.</p>

<p>Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.</p>

<p><img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" /></p>

<p>Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.</p>

<p>A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.</p>

<p>A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.</p>

<p>Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.</p>

<p>Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.</p>

<p>The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.</p>

<p>Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.</p>


Lowe Living unveils Middle Park apartment development

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p><a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.</p>

<p>Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.</p>

<p>The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.</p>

<p>The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.</p>

<p>A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.</p>

<p><img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" /></p>

<p>The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.</p>

<p>"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.</p>

<p>"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."</p>

<p>The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."</p>

<p>Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.</p>

<p>Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.</p>

<p>The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.</p>

<p>The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.</p>


First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<p><a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;</p>

<p>Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367193]</p>

<p>The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;</p>

<p>Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;</p>

<p>"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.</p>

<p>"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367183]</p>

<p>Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;</p>

<p>"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;</p>

<p>Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.</p>

<p>The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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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