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

Joel Robinson

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

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

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

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

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

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

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

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

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

Lismore

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Since the beginning of 2019, it was expected that the residential and rural residential market in Lismore, Casino and Kyogle would soften with reduced sales activity and weakening demand, according to the latest Herron Todd White (HTW) residental report. 
"From a general view point, this has occurred, albeit with some pockets of the market kicking this statement into touch," the valuation firm said. 
"Firstly, following on from the ravages of floodwaters inundating parts of North and South Lismore and parts of Lismore Central during April 2017, the volume of sales activity and demand came to a virtual halt, however over the past six months, we began to see some positive movement."
With the stringent banking regulations now in place, flood affected areas with an estimated habitable floor height level below the estimated one in 100 year flood event height level will experience a lot of difficulty securing mortgage finance.
Nevertheless, those dwellings with a floor height above the estimated one in 100 year flood event height level have fared better and it is not uncommon now to see prices above $300,000 for part renovated dwellings in South Lismore and North Lismore.
The report notes that modern residential estates in the suburb of Goonellabah have continued to improve over the past six months with well improved, four-bedroom, two- bathroom dwellings sometimes breaching the $600,000 mark.
An example was a single level Goonellabah house which has recently been sold for $600,000.
Nestled on an 804 square metre parcel of land, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-goonellabah-130593262" target="_blank">181 Invercauld Road </a>(pictured below) comprises four bedrooms, two bathrooms, open plan living and dining area, gourmet kitchen and outdoor entertainment. 
Located within Wyralla Road Public School catchment area, the house is only footsteps to school bus stop and close to local amenities. 
<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/2019/6/25/goonellabah.jpg" alt="">
Casino and Kyogle on the other hand have seen a general slowdown in activity with only well- presented properties that have special features garnering more interest.
Being close to the town centre and providing modern appointments help improve the overall appeal, according to the HTW report. 
"We note a recent construction of four good quality two-bedroom attached units within close proximity of the Kyogle CBD having no trouble securing tenants at the $350 per week price point," the valuation firm said. 
A two bedroom unit within walking distance to Kyogle CBD has been offered for lease with a price of $375 per week. 
The unit at <a href="https://www.realestate.com.au/property-unit-nsw-kyogle-426720686" target="_blank">1/61 Ettrick Street</a> (pictured below) comprises two bedrooms, living area, modern kitchen, and alfresco area.
Other features include air-conditioning in the main bedroom and living area, solar hot water and garage with remote controlled door. 
<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/2019/6/25/kyogle.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Lismore market picking up after flood affected halt: HTW residential 

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Within the regional city of Lismore and the surrounding established rural townships of Kyogle and Casino, there is no one definitive area that is suitable for renovation or major renewal.
Opportunities can exist throughout the area, providing the cost/benefit analysis is worth the investment, according to the latest Herron Todd White (HTW) residential report.
"That being said, it’s been noted over the past ten years that a certain heritage influenced suburb in Lismore City has provided good examples of renovating for added value," the HTW valuer said.
The suburb of Girards Hill holds a unique standing within Lismore City as it is primarily the favourite haunt of prospective purchasers looking for the heritage factor, the report said.
"Not only is it within close proximity of Lismore CBD (under one kilometre), the plethora of tired, older style homes over the years has benefited from the elbow grease of the various tradespersons and painter’s brush and roller to provide fully renovated, timber clad character homes by simply enhancing those typical features of the pre-war homestead or Federation style residence (such as high timber lined ceilings and walls, polished timber floors, timber fret work, ornate plaster and pressed metal ceilings, picture rails and, if fortunate enough to have, lead light windows.
"It is also important that the process of renovating the kitchen and bathrooms is in keeping with the overall ambience of the house.
"For example, a free standing, claw foot bath/shower is a key identifier."
Most of the work is generally carried out for the benefit of the owner-occupier, it noted.
Typically, unrenovated two and three-bedroom timber homes in Girards Hill would be attracting prices from $250,000 to $350,000 whilst the extensively renovated homes could reach the heights of $500,000 to $600,000 depending on land, dwelling size and position (flood free sites especially). Better quality renovations can be of a very high and appealing standard.
"A key point to remember in this particular suburb is to adhere to the Heritage Conservation rules for the local area," the valuer suggested. 
This is there for a reason and is generally accepted by home owners who have a liking for the heritage features and like these to be protected.
In other suburbs, the trend for the majority of renovation works are carried out for the benefit of the owner-occupier with any thought of potential capital gain a secondary consideration to the immediate enjoyment of the property upon its completion.
"Yes...there are renovation projects available for investors throughout Lismore City, Casino and Kyogle.
"However, most of these are heavily dependent upon securing property which is needing some TLC and having a realistic repair or renovation budget in mind. A lot of these rub and buff projects are taken on with a view to buy and hold and increase the rental return...hopefully." the valuer said.
"The notion of house flippers operating in Lismore, Casino and Kyogle is generally limited as any potential gain is unlikely to be overly significant in such a short time frame, unless of course a real bargain can be snapped up, and only the most savvy and equipped investors would capture those well before the general public hears about them.
"Looking into the future, how will this method of property investment and owner occupier acquisition play out? Well.... a dog house is always a prospective palace in the eyes of its owner. The opportunities are there, you just need to sniff them out."
An example was a Girard Hill renovated three-bedroom house which was sold at $405,000 in July (pictured above).
<a href="https://www.realestate.com.au/sold/property-house-nsw-girards+hill-128063898" target="_blank">Situated at 3 Showview Street</a>, it comes with three bedrooms, new kitchen and bathroom areas, open plan lounge room and rear deck with views.
It is close to Wyrallah Road shopping centre, golf club and primary and secondary schools.
 <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/2018/10/8/casino.jpg" alt="">
A current listing is a Casino recent renovated home with the price of $265,000 (pictured above).
Set on 829 square metres, the three-bedroom house situated at <a href="https://www.realestate.com.au/property-house-nsw-casino-128972474" target="_blank">18 Adam Street</a> features new floor covering, fresh painting in all rooms, modern renovated bathroom and European style laundry. 
The home is located within walking distance to Casino CBD, sporting fields and public transport is just around the corner.
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Renovation opportunities exist throughout Lismore, Kyogle and Casino: HTW

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The Lismore, Casino and Kyogle residential markets remain stable, and are being primarily driven by local investors.
According to the June report from valuation firm Herron Todd White, the market segment is being driven primarily by the local market and doesn’t include many non-local investors.
Rural townships such as the Casino and Kyogle CBDs continue to remain steady with no drop in sales volume, according to the report.
The established housing sector remains steady and is the primary product purchased in the Lismore (pictured)/Casino/Kyogle shire.
The valuation firm notes that in general, there are not many new homes being sold in Casino or Kyogle, however, a high number of construction loans are ongoing for new builds in Goonellabah and Lismore and the occasional sale of a new duplex unit.
The rural residential property market located west of the Casino and Kyogle CBDs hasn’t seen much market movement lately and sales continue to remain relatively steady.
Sales in these secondary locations tend to not be as quick to market as those of the smaller residential sales that have a superior location.
Housing statistics in the Lismore region, specifically auction clearance rates, are generally good depending on the type of property in the market.
"Auctions of smaller residential properties seem to see the best results and have a steady presence in today’s market," the report said.
"The general outlook remains steady for houses in the Lismore/Casino/Kyogle shire as we move into the second half of the year", HTW suggests.
Values seem to be increasing and sale volumes remain strong.
As for units located in this area, there is not a lot of product and sales for this particular sector are thinning.
The main drivers for the Lismore/Casino/Kyogle market include retirees and people who wish to move closer to the CBD within these townships.
It is these sales that contribute to the continuation of steady market sales within this region, the valuers conclude.
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Lismore, Casino and Kyogle residential markets attracting local investors: HTW 

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The far north coast of New South Wales has seen strong demand for properties with a strong tenant profile at the mid to upper levels of the market.
The lower end of the market has seen increased interest from owner occupiers which reduces the need for a strong tenant profile, according to valuers Herron Todd White.
The most significant change was noted along the coastal strip with the stand out performer being Byron Bay.
"The rest of the coastal strip has also performed well," the report noted.
Inland, retail areas have also seen growth albeit more modest.
Coastal localities have seen growth as a result of increasing rents and strengthening yields, while inland localities have tended to have little movement in rents and growth as a result of slightly stronger yields (driven by owner occupier.)
The sales evidence falls broadly within the following ranges:
<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/2018/4/11/lismore%201.jpg" alt="">
Non-coastal locations have had relatively stable rents over the past two years. Retail has been adversely affected in Lismore as a result of the March 2017 flood with increased vacancies.
Rents have held but there is a risk of a downturn.
Coastal localities have been predominantly stable with the exception of Byron Bay, with strong demand, limited supply, upward pressure on rents, and reported incidences of key money.
A strata shop located in the heart of the Lismore CBD has been listed for sale recently with $275,000 hopes (pictured below).
<a href="https://www.realcommercial.com.au/property-retail-nsw-lismore-502683098" target="_blank">Situated at 154 Molesworth Street</a>, the three suites comprising of 76 square metres.
The floor area is 76 square metre.
<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/2018/4/11/molesworth%20st%20lismore.jpg" alt="">
The rental evidence falls broadly within the following ranges:
<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/2018/4/11/lismore%202.jpg" alt="">
A Lismore retail space in the middle of Moleswoth St between Woodlark and Magellan Sts currently on the rental market is priced at $4,800 per month plus GST.
Great exposure to vehicle and pedestrian traffic, <a href="https://www.realcommercial.com.au/property-retail-nsw-lismore-502747606" target="_blank">the 100 Molesworth Street property</a> comes with 108 square metres of retail (which could be extended) plus 78.5 square metres of office/storage space.
There is also a loft of approximately 20 square metres, rear lane access and two allocated car spaces.
<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/2018/4/11/lismore%20lease%20.jpg" alt="">
"Traditionally, the market in northern New South Wales has followed the trend of Sydney to a certain extent with a time lag.
"Sydney and Melbourne’s markets have exhibited softening in demand and uncertainty in relation to value," it noted adding the New South Wales far north coast was a great place to live (good weather, strong tourist destination, solid and stable economy). The increasing population will assist in maintaining strong growth and increased market depth.
"The growth in residential supply will help to underpin local industries.
"Funds are being invested in infrastructure and facilities.
"Owner occupiers and more investors are trying to secure premises to operate businesses at low-interest rates."
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Byron Bay retail picks up: HTW

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The Lismore region has seen an increase in sale prices over the past six month, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that there is a lack of good quality stock with high demand.
Agents are reporting well-presented houses being sold within days, sometimes hours, of hitting the market.
The top end of the market ($450,000 plus) is considered hot.
“We are seeing evidence of increases of up to 15% on houses that have resold within 12 months,” the report stated.
“Four-bedroom, two-bathroom brick and tile houses built after 2010 are proving to be very popular.”
The majority of purchasers are families looking to upsize or get into a home of their own.
The other popular dwelling is the classic, older 1900 to 1940s renovated property, however the renovation needs to be modern and opulent while staying true to the original design.
This is a hard combination to pull off, but when done right the market will pay handsomely, HTW advises.
The report said there were two sales last year in Girards Hill that managed to get the right mix of modern and classic and were sold for $740,000 and $750,000, while traditionally this area achieves $300,000 to $375,000.
The level of demand and lack of available stock is pushing prices up with premiums being paid to secure a property.
This is not considered sustainable over the long term.
“We caution that if there were to be an increase in stock or changes in the economic climate, the higher end of the market would be impacted more dramatically than the lower end,” the report warned.
With the pressure on the higher end of the market we are seeing good demand for lower end (sub $300,000), fixer upper, older style properties with good bones that can be readily updated to be flipped or kept as a first home.
This is proving popular with the younger demographic as an affordable way to enter the market.
Since the beginning of 2017, both Casino and Kyogle enjoyed an improving trend of potential buyer enquiries.
The type of buyer comprises a mixture of first home buyers, investors and existing home owners.
However what is interesting to note is that there has been an increase in non local interest, i.e. people moving into the area where it has been mentioned that the local area (Kyogle and Richmond Valley Council area) is considerably more affordable than other areas within the Northern Rivers.
Predominantly, the properties of interest within Casino and Kyogle are houses in the $200,000 to $300,000 price bracket and modern, well presented, rural residential estate properties on a typical one to five acres around the $400,000 to $600,000 price mark.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-casino-125155786" target="_blank">2 Cascade Drive</a>, Casino (above) has been listed for $269,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-kyogle-125068454" target="_blank">21 Caddie Avenue</a>, Kyogle (below) has been listed for $329,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/20/21%20Caddie%20Avenue.jpg" alt="">
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Lismore property prices on the rise: HTW

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Lismore’s retail market had been forecast to remain the same as 2016 except with slightly reduced sale rates, according to Herron Todd White’s recent report, which was issued just prior to the flood that hit the NSW town.
“We envisage the retail sector for the NSW Far North Coast to be a continuation of 2016, however, with slightly reduced sale rates and less volatility in pricing growth for the more coastal situated properties,” the report stated.
The property valuation firm also says that pricing growth will be less volatile for coastal situated properties.
The report noted the coastal located townships of Byron Bay, Mullumbimby, Bangalow, Lennox Head, Ballina and Yamba will continue to be impacted by increased demand and limited supply of good quality stock.
The owner occupier purchasers will continue to lead the market in most regional townships; however, the investors will continue to be prominent in the traditional high demand townships of Byron Bay and to a lessor extent Ballina, Lennox Head, Yamba and Mullumbimby.
Byron Bay rents in prime CBD locations have been steady with recent increases noted.
"The current firming in yields noted during several prominent sales over the Christmas/New Year period is expected to stabilise over the balance of 2017, with the market remaining strong.
The strength behind Byron Bay’s retail market remains with the tourist industry.
Local businesses are reporting a very strong tourist presence in the first two months of the year and this is expected to continue strongly throughout 2017," the report stated.
The investors will continue to be less prominent in the regional centre of Lismore and the regional townships of Casino and Kyogle for product priced under $500,000.
"This is likely to be a result of the historically limited supply of true investment product as well as downward pressure on rents.
There are currently increased vacancy rates in the Lismore CBD and this will cause uncertainty in being able to obtain a tenant over the balance of the year, the report noted before the recent flooding.
"From an investors perspective, the current price points up to $500,000 being paid by predominately owner occupiers in the regional townships (who are securing a premise to operate their business from and are less concerned with yields) are not considered to be great buys by potential investors (given the low yields and vacancy risks)," the report advised.
For the 2017 year ahead, the sub $500,000 market for retail property in non-coastal townships will continue to be driven by owner-occupiers looking to secure a location for their business.
"These acquisitions appear to be reasonably prudent given the low interest rates and generally stable to improving economic conditions.
Major retailers will remain strong and as a result of this, smaller mum and dad type businesses will continue to ‘do it tough’.
This will be reflected in the rental market - rents will remain stable in prime locations and there will continue to be downward pressure on secondary located properties," the report warned.
However, if the increasing vacancy trend in the Lismore CBD continues, downward pressure may begin for more centrally located properties.
It appears interest rates will continue to remain relatively steady with no indication of possible rate rises.
A"s such, throughout 2017 there should be continued interest from private investors and private super funds looking for superior returns (other than those available from the banks).
National tenanted properties will remain well sought after with stable to slightly lower yields," the report stated.
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Retail market in Lismore faced challenges for landlords before the recent flood: HTW

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The Lismore City area and the surrounding towns of Kyogle and Casino are relatively affordable in comparison to other localities on the NSW Northern Rivers/Far North Coast, according to HTW’s Month in Review: March 2017. 
The valuation firm says there is ample opportunity of first home buyers, with starting prices of $250,000 to $350,000 for a comfortable three to four bedroom, original home within Lismore City and approximately $200,000 to $275,000 within Casino and Kyogle.
The firm warns that first home buyers will face competition from investors.
“Advice to first home buyers would be to have modest expectations and start off small,” it says.
“We have noticed an increase in the advertising of housing stock from developers trying to appeal to the first home buyer.
“Such developments tend to be slightly different from the norm with emphasis on affordability and community living.
“Most of the residential structures in this instance are relatively compact and have shared community gardens/landscaping.
“Some developers have even self-imposed restrictions to only be made available to “first home buyers” and not investors.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-lismore-124668750" target="_blank">308 Molesworth Street</a>, Lismore (above) has been listed for $259,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-lismore-124086458" target="_blank">31 Orion Street</a>, Lismore (below) has been listed for $285,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/09/31%20Orion%20Street.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Lismore an affordable option in the Northern Rivers: HTW

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While Lismore City caters for all potential buyer types, the vast majority of sales activity appears to be located within the $250,000 to $350,000 price bracket, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that the primary reason for this is that it appeals to not only the first home buyer but also "the savvy investor."
The gross rental yields for a single residential house or unit would barely register 5 percent for properties above $400,000.
However, within the $250,000 to $350,000 range, HTW have started seeing better returns, particularly if current mortgage lending rates stay below 4 percent for the medium to long term.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-lismore-123787958" target="_blank">25 Junction Street</a> (above) that is for sale for $315,000.
HTW noted coupled with basement areas, it is not uncommon for property owners to retro fit the space into a self contained granny flat to generate a bit more coin "regardless of whether such improvements are Council approved or not!".
Dwellings and units in this price range are generally original or may have some minor cosmetic improvements, hence making the potential capital gain that could be gleaned from investing in a new kitchen, bathroom or even addition of an en suite if existing space permits) an inviting prospect whilst potentially improving the rental base.
Within this price range, one would expect to purchase a 3-bedroom, 1- to 2-bathroom, single or double garage brick and tile home in Goonellabah with potential rent from $275 to $375 per week depending on location, availability of services and general condition.
At $250,000 to $350,000 the range is simply seen as being affordable and a good starting point for a reasonable quality of accommodation.
From that base, first home owners and investors can value add to the existing structure.
The slowest moving sector, particularly in the past three years, is the typical, unrenovated brick and tile 2-bedroom, 1-bathroom unit with carport, usually within a complex of three or four units.
"This seems rather peculiar given that the price range is approximately $150,000 to $200,000 and is still able to rent for around $200 to $250 per week.
"However, hidden costs such as an ill-managed body corporate and outstanding maintenance issues may give cause for concern."
Herron Todd White noted that first home buyers have higher expectations as their first home.
"Other reasons could be that first home buyers simply have higher expectations and want that 4-bedroom, 2-bathroom home with a double garage as their first home. It does happen. We have completed a number of To Be Erected valuation reports with first home buyers buying land for around $180,000 to $200,000 and then requiring a new build contract at $200,000 plus.
Images of a chained millstone around the neck pop up in one’s mind when witnessing this paradigm shift.
Times have certainly changed since the 1950s and 1960s."
Modern, residential properties in the $400,000 plus price bracket are generally reserved for upgraders and there is reasonable demand.
In the rural townships of Casino and Kyogle, the favoured price range for investment property is lower at $175,000 to $275,000, but interestingly, the rental is higher as a gross yield percentage to the market value of the property.
Similar to Lismore City, original 2-bedroom units within Casino and Kyogle are also hard to move with overall market value being relatively stagnant and even dipping throughout the year.
"But then again, a Casino or Kyogle $110,000 to $120,000 unit is still able to attract rent of around $170 to $200 per week.
"Lastly, the old adage of location, location, location still weighs in heavily in the eventual sale price achieved with convenience of location to shopping, schools and services contributing to demand for housing close to the CBD and local neighbourhood centres," it concluded.
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Lismore market appealing to some first home buyer and investors: HTW

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The North Coast regional township of Lismore in NSW has drawn the attention of valuation firm Herron Todd White in their April 2016 property clock that talks of fringe suburbs and affordability.
Given the relatively small size of the regional centre (Lismore City), there is not a discernible fringe suburb element.
However, in regard to affordability, the older suburbs of North and South Lismore on the (curiously) western side of the river fit the bill. These particular suburbs are well known in recent history as being flood prone and have been subject to some intense debate following the construction of the levee designed to protect the Lismore CBD from nuisance floods i.e. below a one in ten year flood event. Cold comfort if a bigger flood signals its arrival... and North and South Lismore usually cop it.
The price levels and rental levels are therefore traditionally lower than the other suburbs of Girards Hill, East Lismore, Lismore Central, Lismore Heights and Goonellabah.
However, North and South Lismore are not bereft of services with local schooling nearby, a small retail strip with food outlets, bakeries and a pharmacy and its fair share of liquid refreshment from the various taverns and hotels located in this area.
A typical North or South Lismore home is generally well elevated (to escape those nasty flood waters) which in turn provides ample car-parking space and storage underneath. As a result of the estimated height of 12.4 to 12.6 metres, according to the Australian Height Datum for a so-called one in one hundred year flood event, any new residential development requires a minimum habitable floor height 500 millimetres above this level. The main habitable floor would therefore be expected to be a neck craning 2.5 to three metres above ground level.
This applies to new development. However, most of the houses in North and South Lismore were built circa 1920 to 1940 when such fastidious building regulations were not in place.
Therein lies the sting in the tail. Generally most houses with a habitable floor level below the estimated one in one hundred year flood event level could experience a lot of difficulty in securing lender finance, unless the intending owner or purchaser can provide a much higher equity injection i.e. below the standard 80% LVR. Then there is the tricky issue of insurance premiums which have soared in recent years for flood insurance.
These aspects have an impact on the overall price level for properties in North and South Lismore, but not as much as you would expect.
There was a time when purchasing a property in these areas would have a figure south of $150,000. Today, well presented and renovated homes with a floor level above the one in one hundred year flood event can attract sale prices greater than $300,000 with rental levels of $300 per week plus for 3- to 4- bedroom and 2-bathroom homes.
Generally, the median price level ranges from $230,000 to $250,000 with typical rents in the region of $250 to $280 per week for a three-bedroom, one-bathroom home.
Property Observer looked up some recent sales of houses around the median price figure in and around North and South Lismore and came up with these examples from www.realestate.com.au:
<img src="/images/2016/05/18/Screen%20Shot%202016-05-19%20at%2010.05.44%20AM.png" alt="" width="743" height="529">
1. A five-bedroom above flood-level house at <a href="https://www.realestate.com.au/property-house-nsw-north+lismore-121005566" target="_blank">17 Wotherspoon Street North Lismore</a> sold recently for $234,000.
<img src="/images/2016/05/18/main.jpg" alt="" width="673" height="505">
2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-south+lismore-121197650">39 Caniaba Street South Lismore NSW 2480</a> traded for $268,000, according to RP Data.
Just as the other suburbs in Lismore City have improved over the past 12 years, so to have the northern and southern Lismore regions.
Currently, the North and South Lismore residential markets are relatively stable with no records being broken or set, just like the other suburbs in Lismore City.
However, beware the precipitous beast known as the Northern Rivers flood rains and often the faded memories of 1954 and 1974 will come rushing to the fore. Nary has a Lismorean forgotten those times of flood and debris. A bout of that may put a dent in the value of homes on the North and South Lismore lowlands. Let’s hope not. 
 
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