<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

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Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

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Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Mackay

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EXPERT OBSERVER
The number of growth markets in Regional Queensland is rising, helped by recovery in resources-related regional centres. Mackay is now the most upwardly-mobile market, having overtaken the softening Sunshine Coast market, and Gladstone is now showing signs of recovery, with some of its suburbs rising.
Regional Queensland markets collectively have improved in the past year or so: in the past five quarterly surveys of sales activity by Hotspotting, the number of locations with growing demand has increased from 30 to 36 to 40 to 45 to 48. 
The number of growth markets had decreased sharply in the late 2017 survey but showed steady improvement in 2018 and this has continued into 2019. 
The other key feature is the number of Regional Queensland markets with price growth. We analysed price movements in 313 markets and found 203 (65%) have median prices higher than a year ago. Of the 203 growth markets, 99 have recorded median price growth of 5% or more, while another 104 markets have increased by less than 5%.
Of the higher growth markets, 42 have increased by more than 10%, including 15 which have grown 20% or more. Some of the highest annual growth in median prices has been recorded in mining towns Emerald (up 24%), Clermont (up 33%) and Dysart (24%), but these are rising from a low base after several years of downturn.
A number of unit markets have recorded high growth in the median prices, including Noosa Heads (31%) and Peregian Springs (23%) on the Sunshine Coast; Airlie Beach (26%) in the Whitsundays; Bilinga (26%), Broadbeach Waters (27%) and Coolangatta (25%) on the Gold Coast; and East Toowoomba (29%) in the inland regional city of Toowoomba. 
Other growth markets are Sunshine Coast lifestyle locations Sunshine Beach (40%), Eumundi (23%) and Doonan (21%).
A standout characteristic is the recovery in resources-related markets which have spent the past few years in downturn. This trend is headed by Mackay, which now has rising demand coupled with much lower vacancies, and some suburbs are now showing good price growth.
Emerald, which is located near the mines of the Bowen Basin and the Galilee Basin, is a standout: quarterly sales have been 51, 57, 66, 62, 60, 76 and 78, while the median house price has risen 24% to $310,000 in the past 12 months. The trend here is a prime example of the recovery in the resources-related towns.
There’s further evidence of revival in Gladstone, in addition to the steady reduction in vacancies (now below 3%). In our latest analysis we have classified six Gladstone suburbs as rising markets and three suburbs (Clinton, Kin Kora and West Gladstone) have median house prices higher than a year ago. But the market remains patchy – some suburbs are still classified as decline or danger markets and most suburbs still have median prices lower than a year ago (but it’s significant that most of those suburbs have recorded an uplift in prices in the most recent quarter).
As always, never forget that markets that have strong links to the resources sector are volatile and are prone to major downturns. They’re not good places for risk-averse investors.
The larger, more diversified regional centres of Queensland continue to have steady markets, headed by Cairns and the Fraser Coast. Cairns has seven suburbs with rising sales activity, but prices have yet to react to improved demand – most Cairns suburbs have median prices lower than a year ago, although there are exceptions like Caravonica, Whitfield and Yorkeys Knob.
The Fraser Coast region, centred on Hervey Bay, now has six rising suburbs, like rapidly-improving Urangan. Toogoom, Tinana and Kawungan have all recorded strong price uplift in the past year.
Toowoomba remains a solid market without yet showing any overt growth signs, while Townsville has suffered setbacks from the recent major flooding.
The Sunshine Coast, which for some time has been the strongest of the Queensland markets, no longer has that mantle. It now has few suburbs with rising demand, but many plateau markets –which suggests this market may have passed its peak in terms of demand.
But it’s still producing strong price outcomes. Of the 99 Regional Queensland markets with annual price growth above 5%, 38 are in the Sunshine Coast region – plus another 24 suburbs have growth of less than 5%. Both house and apartment markets in and around Noosa continue to be leading performers on price growth. 
Sunshine Coast markets with annual growth above 10% include the Doonan, Eumundi, Mooloolaba, Maleny, Sunshine Beach, Woombye, Wurtulla, Pomona, Twin Waters and Peregian Beach house markets, as well as the Golden Beach, Noosa Heads, Noosaville, Peregian Springs and Warana unit markets.
As we reported in the previous edition, the post-Games boost predicted by some has not eventuated on the Gold Coast. This market was strong from 2015 to 2017 because of the pre-Commonwealth Games construction boom. 
Since then the growth has subsided and it’s difficult to find any growth suburbs (in terms of sales activity) in Gold Coast City, but 41 suburbs classified as either plateau or consistency markets – plus a couple of decline markets. The price outcomes are also mixed: 57 suburbs have median prices higher than a year ago, but there are 27 with prices lower than last year.
A notable trend on the Gold Coast is that many of the best performers on price growth are apartment markets – but not the iconic beachside enclaves like Surfers Paradise, Main Beach and Broadbeach. The unit markets showing growth are in the inland suburbs like Ashmore, Benowa, Elanora, Helensvale, Pacific Pines and Mudgeeraba – or the beachside suburbs outside the glitter strip, like Bilinga, Coolangatta, Palm Beach and Runaway Bay.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Mackay leads regional Queensland price growth surge: Hotspotting's Terry Ryder

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Agents in Mackay reported a slight decrease in sale volumes towards the start of COVID-19 restrictions, however as the government slowly starts to lift restrictions, volumes are slowly starting to improve, according to the latest Herron Todd White (HTW) residential report. 
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.
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The report notes new listings and property values appear to have held steady with no material change in market value.
The Mackay rental market was already tight prior to the pandemic with vacancy levels under two per cent, however agents have reported increased interest, particularly from fly in fly out workers who have been unable to travel due to restrictions and will be further hampered by the effects of Virgin’s possible closure.
"We have not seen any indication to suggest that renovations have changed during lock down.
"We consider renovations to have remained steady and are still predominantly occurring in inner city locations (Mackay, East, West and South Mackay). They are generally of older style, low set or high set dwellings purchased for less than $300,000," the valuation firm said. 
There are a mix of owner-occupiers and investors looking to renovate, however the investor types tend to be tradespeople who can undertake much of the work themselves and flip them straight away.
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Depending on the size of the dwelling and the degree of ancillary improvements, they are worth between $350,000 and $550,000 on completion, the report noted.
Smaller dwellings on smaller than average lots with basic ancillary improvements are worth between $350,000 and $400,000.
Larger dwellings with significant ancillary improvements and over 700 square metre allotments are worth anywhere between $450,000 and $550,000.
A renovated house in West Mackay has recently been sold for $379,000.
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-west+mackay-133582790" target="_blank">57 Mogford Street</a> (pictured below).
It features open plan living zone, study, storage and backyard. 
<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/west%20mackay%20.jpg" alt="">
A current listing is a three bedroom Queenslander in West Mackay priced at $549,000.
The <a href="https://www.realestate.com.au/property-house-qld-west+mackay-133632014" target="_blank">414 Bridge Road</a> home (pictured below) comprises three bedrooms, multiple living areas, entertaining deck and in ground pool.
It also features features polished floors, stone bench topped kitchen and cupboard storage. 
<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/west%20mackay%203.jpg" alt="">
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Mackay renovation activities remain steady: HTW residential 

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There is no doubt that the Mackay economy is heavily influenced by the resource sector in the Bowen Basin and associated service industries located in Paget, according to a recent Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. 
The report notes Mackay enjoyed a significant and sustained mining boom which lasted until about 2012/2013 when a major downturn in the resource sector had a massive flow on effect on the Mackay economy and residential housing market. 
There were definitely some very hard times with significant job losses. The residential market fell between 20 percent and 30 percent, with the median house price falling around $100,000 during this time.
"The downturn did have some positive effects in Mackay, allowing the economy to diversify and not be fully reliant on a booming resource sector," the valuation firm said. 
Housing affordability became a real positive for the city, with workers who had been previously priced out of the housing and rental markets now able to enter the market.
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Since 2017, the Mackay residential market stabilised, the report noted. Throughout 2018 and 2019, Mackay has seen large infrastructure projects (such as the Mackay Ring Road project), an improved resource sector and increased employment opportunities have seen improved market conditions in the residential sector. 
Throw in historic low interest rates and all the ingredients are there for sustained growth in residential real estate in the short to medium term.
"The one big caveat to this is the current COVID-19 pandemic and the economic effects it might have.
"At the time of writing, there has been limited disruption to the major industries in Mackay and the Bowen Basin, however, should the virus make its way here and into the Bowen Basin resulting in large disruptions and possible mining shutdowns, the effects could become quite pronounced. I guess only time will tell," the valuation firm said. 
A two bedroom townhouse in Mackay has recently been sold for $200,000.
Te <a href="https://www.realestate.com.au/sold/property-townhouse-qld-mackay-132809774" target="_blank">5/54 Goldsmith Street </a>home (pictured below) was last sold in 2007 for $230,000.
The townhouse features raked ceilings, lock up garage, wet room, and gardens. 
<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/2020/5/18/mackay%201.jpg" alt="">
A new listing is a two bedroom unit situated on the fringe of Mackay CBD.
The 72sqm unit at <a href="https://www.realestate.com.au/property-unit-qld-mackay-133596482" target="_blank">4/12 East Gordon Street </a>(pictured below) has been listed for sale with a price guide of $160,000.
It comes with family room, courtyard, large bathroom and private courtyard. 
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<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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The impact of COVID-19 pandemic on Mackay property market remains unclear: HTW residential 

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2019 was a positive year not only for the Mackay residential market but for the general Mackay economy, according to a recent Herron Todd White (HTW) residential report.

The report notes a buoyant resource sector coupled with large infrastructure projects, particularly the Mackay Ring Road, saw increased employment opportunities and population growth throughout the year.

The residential market saw increased demand and slight capital growth. The rental market really gathered momentum in 2019, with vacancies below two percent and rental values increasing significantly.

"In 2019, Mackay’s economy was strong, we had record low interest rates and there were excellent employment prospects across most industries, but we only saw minor property value growth. There are a number of factors that contributed to this," the valuation firm said. 

[smartcode_project:default project_id=94823]

Firstly, the median house price for Mackay fell from $438,000 to around $340,000 at the bottom of the market, a drop of around $100,000. This equity reduction eroded the purchasing power of a number of people who purchased property, particularly if they purchased at the height of the market.

Also, the strict lending policies of banks meant that a far greater deposit was required to purchase property.

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"As we head into 2020, there appears to be no slowdown in the resource sector with significant employment opportunities available," the valuation firm said.

Also, the Mackay Ring Road project is well underway, with the government approving Stage 2 and the Walkerston Bypass being recently listed on the National Infrastructure Priority list.

Add the smaller local projects, including The Resource Centre of Excellence, retail expansion including Coles at Andergrove and the Northern Beaches Emporium development plus other council projects including the Mackay CBD to Harbour link, Queens Park revitalisation project and the Rotary lookout in North Mackay and all of these projects and opportunities should keep the economic recovery of Mackay continuing into 2020.

[smartcode_project:default project_id=94830]

The report notes interest rates are expected to continue at record low levels for the short term and there appears to be a softening of some of the strict criteria of the banks.

"So what do we think will happen to residential property in 2020? We think the momentum gained in Mackay over the past two years will continue into 2020. 

"We anticipate modest price growth throughout the year across all market sectors, with rentals to remain tight. With continuing record low interest rates, good employment opportunities and a general feeling of optimism across Mackay, we think 2020 will be a good year for the residential real estate market." 

A fully finished self contained apartment in Mackay has been listed for rent with a price of $340 per week.

Located at <a href="https://www.realestate.com.au/property-house-qld-mackay-417251618" target="_blank">4/24 East Gordon Street</a> (pictured below), the apartment comes with master bedroom, open plan living area, and well-equipped kitchen.

It is located within walking distance to the Town Beach and only a short drive to CBD.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/mackay%20.jpg">

A three bedroom Queenslander situated close to Mackay CBD has been sold for $280,000.

Located at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-132385018" target="_blank">26 Juliet Street </a>(pictured below), the house comes with renovated kitchen, open plan lounge and dining, and functional bathroom.

It's situated close to restaurants, schools, sporting grounds and parklands. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/mackay%202.jpg">
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Mackay to see price growth throughout 2020 across all property market sectors: HTW residential 

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A North Mackay, Queensland mortgagee home was listed just months after it was sold in January of 2019.
Currently listed for $270,000 - $275,000, the property previously transacted for $255,000.
The property has been listed through Buymyplace, meaning the vendor has not employed an agent to market the property.
Situated at <a href="https://www.realestate.com.au/property-house-qld-north+mackay-128779974" target="_blank">10 Meadow Street</a>, the abode is a four bedroom one bathroom house.
Set on 1,000 sqm, the property was previously sold in 2011 for $275,000, the same price as what the vendors are currently seeking.
The renovated property has been listed as a rental multiple times between 2012 - 2017. In 2012 the vendors sough $435/pw.
In 2015 the vendors sought between $240/pw - $280/pw and most recently in 2017 the vendors were asking for $240/pw - $250/pw.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a unit in <a href="/news">North Mackay</a> is $255,000, according to CoreLogic.
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North Mackay, Queensland mortgagee home listed months after purchase for 2011 price

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Mackay has been in recovery mode for the 12 months, with improved market confidence across the residential sector, according to the latest Herron Todd White (HTW) residential report. 
The report notes values bottomed out and have now started to improve slightly.
"On the prestige front, we have seen a variety of properties sell, with the majority of sales around $1.2 million give or take $50,000," the valuation firm said. 
"For this amount, you can get good quality rural residential properties comprising large executive style dwelling and associated ancillary improvements."
Examples provided by the HTW report include <a href="https://www.realestate.com.au/sold/property-house-qld-the+leap-129464526" target="_blank">241 Kochs Road</a>, Farleigh (pictured above) for $1.24 million and <a href="https://www.realestate.com.au/sold/property-house-qld-the+leap-131335718" target="_blank">185 Ian Reddacliffe Drive</a> (pictured below) for $1.2 million.
<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/2019/11/20/185%20Ian%20Reddacliff%20drive.jpg" alt="">
"In town, we have also seen some good quality residential sales. These include the sale of 11 Joseph Court for $1.05 million," the valuation firm said. 
It comprises a large, two-storey architecturally designed dwelling representing the highest sale in a standard residential estate.
The jewel in the crown however belongs to the sale of <a href="https://www.realestate.com.au/sold/property-house-qld-dolphin+heads-130953794" target="_blank">30 Beach Road, Dolphin Heads</a> (pictured below) for $1.73 million.
<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/2019/11/20/30%20beach%20rd.jpg" alt="">
This property comprises a large architecturally designed dwelling on absolute beach front at Dolphin Heads and represents the highest sale recorded in Mackay in the past 12 months.
Local agents report good interest in prestige property, however a lack of high quality stock is currently holding the market back.
"One way we have seen around this is the increase in new construction of prestige dwellings.
"A number of large architectural dwellings are currently being built or planned for construction right across the Mackay region." 
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Mackay sees increase in new construction of prestige dwellings: HTW residential 

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Between 2013 and 2017, it was a pretty tough slog for investors in residential real estate in Mackay, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"The downturn in the resource sector and flow on effects to Mackay have been well documented in this column, but are important to give context in the current market," the valuation firm said. 
Rental vacancy rates blew out significantly from around 1% to a high of 9.4%, with market rental values falling between 30% and 50%.
"Investors all but left the market during this period, putting greater pressure on values of purely investment grade stock, in particular flats and units.
"However, over the past 12 to 18 months, the tide has definitely started turning," the valuation firm said. 
Rental vacancy rates have been falling over the past two years and currently sit at just below 2% with market rental values increasing throughout this period.
In fact, the rate of increase in rental values rose faster than any increase in capital values during this period, meaning yields are increasing.
This fact alone, with the prospect of increasing capital values in the medium term, is making Mackay a great place to invest at present, the report noted.
"So, what are the yields being achieved at present?
"For residential dwellings, gross yields currently sit between 5% and 6%, with the higher yields currently available on lower value dwellings," the valuation firm said. 
The HTW report suggests the minimum rental levels in Mackay have been rising steadily, allowing greater yields on these properties.
The risk is the older properties may require capital expenditure and repairs and do not reap the depreciation benefits on more modern properties.
"In terms of gross yields only, the highest yields currently available are with units. Unit values fell significantly in the downturn and have only started to increase slightly since," the valuation firm said. 
For example, an older style walk up two-storey attached unit in close proximity to the CBD can still be purchased for under $150,000, with some recent sales as low as $110,000.
These units can command a rental of between $180 and $200 per week giving gross yields of between 7% and 8.5%.
"Just a word of caution, these rates are gross yields only and do not take into account the higher costs of insurance and body corporate levies in Mackay or rates payable." 
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Mackay minimum rental levels rise steadily: HTW residential 

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The Mackay market experienced significant value loss between 2013 and 2017, but momentum has now shifted with slight increases in value, according to a recent Herron Todd White (HTW) residential report. 
"In the entry or lower markets, we are seeing most buyers looking for good bones they can add value to," the valuation firm stated. 
The HTW report notes there is a real chance of capital growth, which first home buyers may capitalise on.
This market segment is traditionally around the sub-$300,000 and has been very active, the firm said. 
"For this amount, you are buying older style lowset and highset dwellings in traditional suburbs such as South Mackay, North Mackay, East Mackay and West Mackay," the valuation firm noted. 
A three bedroom cottage at<a href="https://www.realestate.com.au/sold/property-house-qld-west+mackay-131490238" target="_blank"> 17 Paulette Street, West Mackay</a> (pictured below) has recently been sold for $325,000. 
Nestled on an 814 square metre allotment, the home comprises three bedrooms, sunroom, kitchen, and bathroom. 
It last sold for in 2009 for $310,000. 
<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/2019/9/18/west%20mackay%20.jpg" alt="">
For upgraders in the middle market, location becomes a big factor according to the HTW report. 
Good quality executive estates are becoming more and more popular with the bounce back in the market.
"The market is now starting to really differentiate between good quality estates and other slightly less quality estates that have a percentage of investment stock," the valuation firm said. 
"These dwellings are normally large rendered masonry four bedroom, two bathroom dwellings, with prices that start at $500,000."
The high end market has two definite fundamentals, being location and quality of improvements.
In the location group, areas that have excellent views or frontage to water are sought after and often have older-style improvements but command a premium for the location aspects.
"On the improvements side, we are seeing prestige estates becoming more popular, with very large prestige dwellings being constructed with extensive ancillary improvements. Both these sectors start at $800,000 and above." 
A beachfront home at<a href="https://www.realestate.com.au/property-house-qld-eimeo-131619802" target="_blank"> 4/3 Mango Avenue, Eimeo</a> (pictured below) has been listed for sale with $1.3 million hopes. 
Set on a 500 square metre block, the home comprises three bedrooms, open plan living areas, timber kitchen, and rumpus room.
Other features include alfresco dining area, lap pool, high ceilings, and led lighting. 
<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/2019/9/18/eimeo.jpg" alt="">
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Mackay property slightly increasing in value: HTW residential 

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Mackay's Coral Cay Resort has been purchased by West Australian-based Facilimate Hotels. 
Located on a large 9,148 square metres site, the hotel at 14-18 Nebo Road comprises 82 one, two and three bedroom apartments, a restaurant, two meeting rooms, a swimming pool, gymnasium, manager's residence and outdoor car parking. 
The sale is evidence that investor sentiment is on the rise in Mackay market, showing signs of recovery following recent mining project approvals, said Managing Director of Facilimate Hotels, Stephen Lauder.
"With the hotel situated between our Brisbane and Cairns hotels, we identified synergies in adding the asset to our portfolio and increasing our footprint in the Queensland market," Lauder. 
This ideal represents the group's third purchase in Queensland, following its acquisition of the Pacific Hotel Cairns and Urban Hotel Brisbane.
It boosts its portfolio of owned and operated assets to six across the ACT, Western Australia and Queensland.
The sale was by embattled fund manager Blue Sky which took a capital loss of about $6 million after Facilitate paid about $10 million.
Blue Sky Residential Asset Managers, an unlisted fund that comes under the umbrella of ASX-listed Blue Sky Alternative Investments Limited, paid $16 millio in May 2013.
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Facilimate Hotels buys Mackay Coral Cay Resort  

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A North Mackay, Queensland mortgagee home has been listed just months after it was sold in January of 2019.
Currently listed for $270,000 - $275,000, the property previously transacted for $255,000.
The property has been listed through Buymyplace, meaning the vendor has not employed an agent to market the property.
Situated at <a href="https://www.realestate.com.au/property-house-qld-north+mackay-128779974" target="_blank">10 Meadow Street</a>, the abode is a four bedroom one bathroom house.
Set on 1,000 sqm, the property was previously sold in 2011 for $275,000, the same price as what the vendors are currently seeking.
The renovated property has been listed as a rental multiple times between 2012 - 2017. In 2012 the vendors sough $435/pw.
In 2015 the vendors sought between $240/pw - $280/pw and most recently in 2017 the vendors were asking for $240/pw - $250/pw.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a unit in <a href="/developments/north-mackay-qld-4740">North Mackay</a> is $255,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -2.6%.
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