Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

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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terryryder-YECXbqmri2

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. 
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j.ballantyne1990-6AQqhLzZaK

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. 
<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%202.jpg" alt="">
<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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