ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Mackay

<html><body>
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
</body></html>

terryryder-YECXbqmri2

Mackay leads regional Queensland price growth surge: Hotspotting's Terry Ryder

<html><body>
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.
<div class="page" title="Page 25">
<div class="section">
<div class="layoutArea">
<div class="column">
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.
<div class="page" title="Page 26">
<div class="section">
<div class="layoutArea">
<div class="column">
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="">
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mackay renovation activities remain steady: HTW residential 

<html><body><div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
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.
</div>
<div class="column">
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>
<div>
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. 
</div>
<div> </div>
<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>
</div>
</div>
</div>
</div></body></html>

The impact of COVID-19 pandemic on Mackay property market remains unclear: HTW residential 

<html><body><div class="page" title="Page 23">
<div class="section">
<div class="layoutArea">
<div class="column">
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.

<div class="page" title="Page 24">
<div class="section">
<div class="layoutArea">
<div class="column">
"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">
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Mackay to see price growth throughout 2020 across all property market sectors: HTW residential 

<html><body>
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.
</body></html>

North Mackay, Queensland mortgagee home listed months after purchase for 2011 price

<html><body>
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." 
</body></html>

Mackay sees increase in new construction of prestige dwellings: HTW residential 

<html><body>
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." 
</body></html>

Mackay minimum rental levels rise steadily: HTW residential 

<html><body>
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="">
</body></html>

Mackay property slightly increasing in value: HTW residential 

<html><body>
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.
</body></html>

Facilimate Hotels buys Mackay Coral Cay Resort  

<html><body>
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%.
</body></html>

Mackay

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Mackay

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.