National property developer Goldfields has secured permit approval and appointed Victorian residential builder Ironside to begin work on The Brightly, an 11-storey, wellness and lifestyle-focused mixed-use development in Richmond.

<a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has partnered with Dexus Real Estate Partnership Fund 1 (DREP 1) as co-investor and delivery partner in the <a href="https://www.apartments.com.au/new-apartments/the-brightly-9-15-brighton-street-richmond-vic-3121">Brighton Street project</a>.

With architecture and interiors by design practice Cera Stribley, The Brightly will feature 100 apartments, a resident-only wellness space, elevated dining experiences including a private dining room and a rooftop garden lounge, and ground-floor retail designed to integrate with Richmond’s local character.

The wellness space will feature a hot magnesium pool, cold plunge, steam room, sauna, and a vitamin-infused drinking station for refreshment and rehydration.

The Brightly’s focus on wellness extends to the rooftop landscaped by award-winning landscape architect Jack Merlo. It will feature canopied retreats and panoramic views of the Melbourne CBD and Richmond Hill treetops. Residents can also host guests with a private bookable dining space on the rooftop garden lounge and an indoor option on the first level.

Cera Stribley’s architectural vision drew inspiration from the surrounding area, using the flowing form of the train lines to shape the façade and create a dialogue between the building and Richmond’s rich history. The design features a four-level podium lined with lush greenery, honouring the suburb’s character and streetscape through its scale and materials.

There will be a choice&nbsp;of one-, two- and three-bedroom apartments, along with 19 exclusive sub-penthouses and penthouses, for prospective purchasers.

Lachlan Thompson, Goldfields’ CEO, said The Brightly will define a new kind of urban luxury for Inner East living.

“By drawing on Richmond’s vibrant mix of culture and hospitality, we’ve combined a lifestyle centred on wellness,” Thompson said.

“Its proximity to Melbourne's sports and entertainment precinct, the CBD, parks, and public transport makes it a prime location for both young professionals and those seeking a lifestyle change. What we’ve created is something remarkable - it’s real, it's Richmond, and it’s refined."

Dexus Real Estate Partnership Fund 1 Fund Manager, Jason Howes, said the Brightly is a high-quality investment in a high demand area with limited residential stock expected to be added in the coming years.

“Partnering with Goldfields, we are delivering a project that will redefine lifestyle focused urban living, offering residents exceptional design and amenities in one of Melbourne's most vibrant suburbs,” he said.

Onsite demolition is underway, with construction set to commence in April 2026 and completion targeted for late 2027. The Brightly will launch to market in mid-2026.

[smartcode_project_cta:default project_id=146631]

Joel Robinson

Goldfields greenlit for The Brightly, Richmond apartment development

The Allan Labor Government has revealed the remaining 23&nbsp;Train and Tram Zone Activity Centres as part of their plan to try and encourage development around some of Melbourne's most connected suburbs.

The new zones includes&nbsp;four smaller ‘neighbourhood centres’ to plan for more modest growth.

<ul>
	<li>Five are connected to the new Metro Tunnel and are now experiencing more services: Caulfield, Springvale, Noble Park, Yarraman (neighbourhood centre), and Dandenong stations.</li>
	<li>Eight are along the Frankston Line, which has recently returned to the City Loop: Hawksburn, Toorak (Beatty Avenue), Armadale (High Street), Malvern (Glenferrie Road), Glen Huntly, Ormond, Bentleigh, and Mentone stations</li>
	<li>Four are along the Sandringham Line, which will see an increase in services later this year: South Yarra, Prahran, Windsor and Elsternwick stations</li>
	<li>Three are on the Belgrave/Lilydale Line and benefit from five-minute peak services on average between Ringwood and the city: Blackburn, Nunawading, and Mitcham stations</li>
	<li>Two neighbourhood centres on the Alamein Line: Ashburton Station, plus a combined centre for the two closest stations on the metropolitan network Riversdale &amp; Willison stations</li>
	<li>One neighbourhood centre, Toorak Village, is a built-up area along the Route 58 tram.</li>
</ul>

The <a href="https://spatial.planning.vic.gov.au/activitycentre/">draft maps</a> will now be subject to detailed community consultation.

A similar process occurred for the first 10 pilot Activity Centres, with clear changes made as a direct result of this community consultation.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The final train and tram zones will set clear expectations on where new homes can go, cutting out delays, uncertainty and red tape and getting homes off the ground. The remaining two in inner-Melbourne that cover the entire Local Government Areas of Melbourne and Yarra, will go through a separate process.

In the immediate ‘core’ the plans allow for more homes in taller apartment buildings.&nbsp;Some cores have heights of six storeys, while others have up to 20 storeys, only when it is in line with those councils’ planning work.

Eligible buildings across the core will be ‘deemed to comply’ with planning rules and be exempt from VCAT review. Applications in the core that exceed the specified height of the site are not eligible for this fast-tracked pathway.

In the walkable catchments that surround the core, the plans propose gentler height limits and more low-rise apartments and townhouses. Heritage and landscape overlays will stay in place.

Inner catchments, representing up to a five-minute walk from the station or centre, propose limits of four storeys, or six storeys on larger blocks of more than 1,000 sqm, while outer catchments, representing up to a 10-minute walk from the station or centre, propose limits of three storeys, or four storeys on larger blocks of more than 1,000 sqm.

By 2051, train and tram zones will help deliver more than 300,000 new homes, with final plans for all 50 new centres expected to be completed by mid this year.

“We want more Victorians to have the opportunity to live close to public transport, their loved ones, and the things that matter to them,"&nbsp;Minister for Planning Sonya Kilkenny said.

“Whether it’s making it easier to build homes close to public transport, townhouses in our inner suburbs, or family homes with a backyard, our planning reforms are all about giving more Victorians real housing choice.

“While we’re focused on giving more young Victorians the opportunity to have a home of their own, the Liberals are blocking them from being built. They oppose more homes near transport, jobs and services.”

Toorak and South Yarra earmarked for greater density as VIC Gov releases final Train and Tram Zone Activity Centres

Glen Waverley’s housing shortage is set to be closed by 50 per cent with the approval of 795 new apartments which will rise from a former carp park in the heart of the suburb.

The plans, lodged by <a href="https://www.apartments.com.au/developers/sunkin-property-group">Sunkin Property Group</a> and now approved by the Victorian State Government Development Facilitation Program, will transform the 6,114 sqm carpark at 281 Springvale Road, into an $800 million, mixed-use residential and commercial development in the metropolitan activity centre.&nbsp;

“281 Springvale Road has received planning approval for a mixed-use, high-density development that will provide much needed homes in Melbourne’s middle-ring suburbs, including affordable housing," Sunkin's GM of Property and Development Lloyd Collins says.

"We worked closely with key stakeholders, the Department of Transport and Planning, Suburban Rail Loop Authority and Monash City Council to achieve an integrated design with an activated retail ground level that will add to the success of Glen Waverley.

Glen Waverley’s population is projected to grow by 9 per cent by 2031, with an additional 1,600 dwellings required to &nbsp;service the area.

Around 1,000 sqm of the former carpark has been retained by Monash City Council for a new Civic Plaza, creating a central meeting point and public transport link for the local community. &nbsp;

Sunkin Property Group acquired the site from Monash City Council in 2024. The site will remain open as a public carpark until development commences.

[smartcode_project_cta:default project_id=149491]

$800 million, 800-unit development permit fast-tracked for Glen Waverley carpark

UAE developer <a href="https://www.apartments.com.au/developers/arada">Arada</a> is continuing to unveil its billions of dollars of residential development it is set to deliver in Australia.

Following on its plans for <a href="https://www.apartments.com.au/news/nsw/arada-pitches-castle-hill-apartment-plans-ahead-of-2026-launch">431 apartments in Castle Hill</a>&nbsp;and the 2025 bail-out of construction firm Roberts &amp; Co so it can build its own developments, Arada&nbsp;has sought the NSW Government's approval for three towers in the Campsie town centre.

The project, dubbed One Campsie, has been designed by Woods Bagot and will deliver 346 apartments to Beamish Street across three interconnected towers rising 24, 32, and 39 storeys.

According to the Woods Bagot Architectural Design Report, the design seeks to “redefine the urban experience of a rapidly transforming town centre,” delivering housing above an activated ground plane that integrates civic and commercial uses. The design adopts a three-part vertical composition, stepping and articulating the tower to reduce visual bulk and respond to its varied urban interfaces.

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="f515807f-7277-4ea5-8b2b-a5718514f30a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campsie%20podium.png?VersionId=J3oSJpOvye8gpg1kjagODjdhOb0Cl28I" />

At street level, the scheme places significant emphasis on public domain upgrades. A new civic plaza is proposed opposite the Orion Theatre, alongside a landscaped pocket park and a through-site pedestrian link connecting Beamish Street to Campsie Street and Ninth Avenue. The Urban Design Justification Report states that the proposal “builds on Council’s Master Plan by applying a place-led urban design framework that responds to the site’s unique conditions and enhances pedestrian experience and public benefit.”

The documents note that the development aligns with the Master Plan’s intensification strategy for sites within walking distance of the Metro station, while seeking to retain solar access to key public spaces. As outlined in the Urban Design Report, the proposal delivers “intensification within walking distance of the Metro Station while retaining solar access to key parks."

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="586ad606-a84f-49cc-b715-fc3ecb731205" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campsie%20podium%20a.png?VersionId=gNHaD.Os8yW4LVOdsJIdmmhlgQArs0Gm" />

Woods Bagot’s design narrative also draws on local history and Aboriginal cultural context. The Architectural Design Report references engagement with Wangal Country and the Cooks River landscape, seeking to embed a connection to Country through material selection, planting, and public art integration. The broader vision, as described in the report, is to create a building that functions as a “community catalyst, not only as a place to live, but as a vibrant destination for work and play that brings people together, supports local culture, and contributes meaningfully to the civic identity of Campsie.”

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="f1bc9a44-0c1a-4e3f-8b27-38070b0d2744" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_2.png?VersionId=1JmMWg6jOU1rPpS9hCxy8s8H48xc0EiM" />

Located at 124–142 Beamish Street and 16–18 Ninth Avenue, the site occupies a key stretch of Beamish Street, Campsie’s traditional high street, characterised by fine-grain retail, multicultural dining, and proximity to civic infrastructure including the Orion Theatre and Canterbury Civic Centre. The proposed civic plaza and pocket park aim to strengthen this interface, formalising connections between retail frontages, public transport, and community facilities.

If approved, One Campsie would mark one of the tallest and most ambitious additions to the suburb’s skyline, reflecting the broader shift toward higher-density living around transport nodes in Sydney’s middle-ring centres.

First Look: Arada files for trio of apartment towers in Campsie town centre

Syd​ney builder-developer Scion has lodged a State Significant Development Application (SSDA) for a 22-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">96 Anzac Avenue, West Ryde</a>, marking a significant step in the transformation of the Victoria Road gateway precinct.

Designed by Turner, the proposal would replace an ageing two-storey commercial building with 145 apartments and 29 co-living rooms, above ground-floor retail and three basement levels of parking.

The 3,149 sqm site sits just 150 metres from West Ryde train station, at the edge of the suburb’s retail core and diagonally opposite Anzac Park. It occupies a prominent corner with frontages to both Anzac Avenue and Victoria Road, positioning it as a key transition point between established residential neighbourhoods and the commercial centre.

The scheme is being advanced under the Housing Delivery Authority pathway as a State Significant Development, alongside a concurrent rezoning to lift the site’s height and floor space ratio controls.

Turner says in the Architectural Design Report that the proposal "responds to a unique opportunity to support the revitalisation of West Ryde through the delivery of a landmark development that combines high-quality residential offerings with enhanced public realm and active ground plane uses.”

Scion will be pushing height almost five times higher than what had been pitched for the site before.

Turner says the increased scale aligns with Council’s strategic direction for the precinct, including the West Ryde Town Centre Revitalisation Strategy (2019), the Draft Masterplan (2021), and the West Ryde–Meadowbank Renewal Strategy (2023).

“The increased height and density proposed aligns with Council’s evolving strategic direction for the precinct, as outlined in the Draft Revitalisation Strategy (2019), the 2021 Draft Masterplan, and the broader West Ryde–Meadowbank Renewal Strategy (2023), which collectively call for higher density, transit-oriented development and design excellence."

Turner describes the vision as establishing “a contemporary, mixed-use development that contributes positively to the West Ryde town centre.”

<img alt="West Ryde" data-entity-type="file" data-entity-uuid="c5c22c11-92b8-4ca6-b77b-b5848ae0176d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-02-12%20at%202.41.34%E2%80%AFPM.png?VersionId=aom0z8azYDw7Hl6.A6vDbCom5ozZICn5" />

The architectural response has been shaped by the site’s gateway role along Victoria Road and its proximity to Anzac Park and surrounding heritage elements, including the Sydney Water pumping station opposite the site.

The design process also incorporated consultation around Connecting with Country principles. The design report outlines engagement with Cultural Heritage Consultants Artefact and Aunty Julie, a Burruberongal woman of the Darug Nation, informing planting selection, materiality and potential public art opportunities.

Turner says the scheme aims to optimise the site’s capacity while balancing yield and amenity.

“The proposed scheme seeks to optimise the site’s potential by balancing yield, amenity, and urban integration. It will deliver a high-quality, mixed-use precinct that supports West Ryde’s ongoing transformation into a connected, accessible, and liveable centre."

Scion recently completed the build of its own development, The Sterling in Lane Cove. They are currently building Chatham in West Ryde, just 500m from the new proposal. Those 62 apartments will complete later this year.

First look: Scion pitches tower plans for West Ryde

Northern Beaches

Progressive Australian property developers Lindsay Bennelong are set to add a new landmark project to their burgeoning portfolio.

The group has lodged plans for a boutique development on a prime beachside site in Manly.

Just five apartments will be built across a four-level building at 61 North Steyne, four three-bedroom units and one two-bedder.&nbsp;

With close proximity to Manly’s town centre and the CBD, the area is characterised by a mix of building types which have evolved and changed over the years, with the latest residences set blend seamlessly with the coastal surrounds.

<img alt="Render of the North Steyne development " data-entity-type="file" data-entity-uuid="9e6120c3-3b2c-4566-abe9-0dbb8ee6fa92" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-11-21%20at%209.46.39%20am.png?VersionId=jZOxyXcsg8efn67l62MtdCE7Ndk4Arr6" />Render of the Manly development at 61 North Steyne.&nbsp;

Designed by Platform Architects, the generously-sized apartments boast views across Manly Beach, complete with expansive outdoor areas fronting the water.&nbsp;

A feature screen has been incorporated in the design to maintain privacy to neighbours and between apartments, with the elements also creating visual interest and articulation to the building as well as providing an element of solar control. The building is also proposed to be constructed of concrete and masonry to enable heat gain to radiate in the cooler evening hours – again contributing to a comfortable temperature.

The site benefits from a portion of road reserve that was dedicated for road widening. That dedication has now been abandoned and the land to south at 60 North Steyne has incorporated the area into their landscaped front setback design.&nbsp;

“We feel that stepping down a corner site that is flanked by taller buildings would result in a less than desirable urban design outcome and as such feel a compatible building height is more appropriate," Platform Architects noted in their design submission.

Landscaping has been incorporated into the design to give all dwellings access to greenery, including large trees, shrubs and ground covers, contributing to the local flora and microclimate. Landscaping is not only limited to the ground floor level but is also incorporated at higher levels, with a green roof over the carlift and planters on the terraces and balconies. Landscaping thus plays an important role in the overall expression of the design, with the green spaces also for water absorption, re-use and filtering of the run off into the existing drainage systems.&nbsp;

<img alt="Render of the North Steyne development " data-entity-type="file" data-entity-uuid="1ebe2a4c-5311-48ea-adbc-7669442c4dc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-11-21%20at%209.46.57%20am.png?VersionId=TubLajRLd7gWytFTIZe9t2r0tXLBcEzC" />Render of the Manly development at 61 North Steyne.&nbsp;

The proposed density on the site is desirable due to the site’s close connection with job opportunities in Manly Town Centre, along with public transport to the city and other suburbs. In addition, the location of the site is well suited to accommodate future residents with easy access to public amenities and transport within walking distance.

Lindsay Bennelong are well known in Sydney's Eastern Suburbs, having completed the sold-out Vue in Bondi Junction. The group’s other Bondi Junction project, Whitton Lane, is currently on the market. They also have plans for a small project in Maroubra.

[smartcode_project_cta:default project_id=136806]

Just five apartments will be built across a four-level building at 61 North Steyne

alisonwarters@gmail.com

First look: Lindsay Bennelong lodge plans for beachside Manly apartments

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EXPERT OBSERVER

Six months ago it was hard to find any suburbs across the Greater Sydney Area with rising buyer demand, but now there are many. It’s been a sharp turnaround – but an uneven one.

Overall, this is the strongest Sydney market I’ve recorded in the five years that I’ve been conducting quarterly surveys of sales activity and price trends. 

Our Winter 2019 survey pinpointed the bottom of the Sydney trough and our latest survey, now under way, provides strong evidence of the market revival, showing just how much has changed since the middle of last year. 

Locations with rising markets, as measured by sales activity, can be found in 22 municipalities across the Sydney metro area, but the revival is not evenly distributed. The greatest uplift is being felt at the upper end of the market and many suburbs have not yet experienced significant improvement.

The number of suburbs classified as declining markets has dropped a lot but there are still 12 suburbs with deteriorating demand – and another 12 that have that characteristic as well as high vacancies and weak prices, which we therefore classify as danger markets.

There danger markets are all locations where apartments predominate. Seven of them are in the Parramatta LGA, where high levels of new apartments have been built in recent years and vacancies remain in the 5% to 8% range in several cases.

The leading market in the Greater Sydney Area is the Northern Beaches LGA. It has nine suburbs with rising sales activity, plus six others with steady buyer demand. 

Quarterly sales in Newport have been 28-36-53-64, while Freshwater and Frenchs Forest are stand-outs for maintaining highly consistently sales levels throughout the post-boom correction phase and now in the recovery.

The Inner West LGA is also performing well, with six growth suburbs and nine others with consistent buyer demand. Quarterly sales in Annandale have been 17-32-36-45-64, while Leichardt has been 59-68-77-105, patterns that will likely drive prices higher.

The Sydney City LGA has growth suburbs, but also shows the importance of not generalizing when discussing real estate in a major city. The central city LGA has five suburbs with growing sales activity, 11 with steady markets, three where demand continues to decline and one suburb which we classify as a danger market. All that diversity exists in one municipality. 

Blacktown is the strongest of the outer-ring markets, with five growth suburbs and 11 with steady sales activity. Schofields continues to stand out with rising sales activity – quarterly sales over the past two years have been 64-82-99-105-120-150-196-162.

Other LGAs with three or four growth suburbs include the Hills Shire, Ku-ring-gai, North Sydney and Sutherland municipalities.

This new survey also shows the recovery in the Canterbury-Bankstown area. Six months ago, 12 suburbs in this LGA were rated as declining markets, with sales levels dropping markedly. But now most of these suburbs have been re-classified as plateau markets, as sales levels start to improve. And four suburbs of the Canterbury-Bankstown LGA have shown sufficient revival to be classified as rising markets.

Across Greater Sydney, prices are reacting to the uplift in demand that is generally occurring in many locations, but most suburbs still have median prices below the levels of 12 months ago. This applies to 92% of suburbs for houses and 85% of suburbs for apartments.

But many suburbs have shown increases in the latest quarter. Examples include Mona Vale (median house price down 8% annually but up 2.3% in the latest quarter); Collaroy (down 15% in annual terms but up 9.5% quarter-to-quarter); Bronte (down 9% year-on-year but up 2.6% in the latest quarter); and Killara (down 15% annually but up 3% quarter-to-quarter). 

This is a pattern I expect to see becoming increasingly prevalent as the uplift being led by the more expensive areas spreads more widely across the metro area.

Terry Ryder is the founder of hotspotting.com.au <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au</a> twitter.com/hotspotting

PICTURE SOURCE: <a class="external text" href="https://www.flickr.com/photos/34120957@N04" rel="nofollow" target="_blank">Alex Proimos</a>
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terryryder-YECXbqmri2

Northern Beaches rising buyer demand drives Greater Sydney to strongest Sydney market: Hotspotting's Terry Ryder

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Plans to slash travel times for drivers and public transport commuters in Sydney’s north have taken a major step forward with the Beaches Link Environmental Impact Statement (EIS) released today. 

Premier Gladys Berejiklian said the mega-project will include twin tunnels under Middle Harbour with three lanes in each direction, allowing commuters to avoid peak hour congestion on the Spit Bridge, Military Road and the Roseville Bridge. 

“Beaches Link will transform the way people move to and from the Northern Beaches, bypassing 19 sets of traffic lights through The Spit, Mosman and Neutral Bay and help save up to 56 minutes between Dee Why and Sydney airport,” Ms Berejiklian said.

Residents in Neutral Bay, Mosman and Cremorne are set to benefit from the new tunnels, with less congestion and noise and traffic volumes expected to reduce by around a third along Spit Road.

<img alt="" height="1495" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beaches_link_render_2.jpg" width="2000">

Ms Berejiklian says the Western Harbour Tunnel and Beaches Link program is expected to support around 15,000 full-time jobs.

Minister for Transport and Roads Andrew Constance said the project will integrate with new and existing public transport connections.

“There will be the opportunity for new express bus services to key centres including St Leonards, Macquarie Park, North Sydney and Sydney CBD, and direct access to North Sydney to interchange with the new Sydney Metro,” Mr Constance said.

“We’re also planning more than five kilometres of new cycle and pedestrian pathways, including links to the Northern Beaches Hospital precinct.

“This is the next stage of the consultation process, giving the community another opportunity to have its say.

<img alt="" height="1323" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beaches_link_render_3.jpg" width="2000">

“Transport for NSW has adapted its community engagement in line with current health advice regarding COVID-19, and will be providing enhanced online engagement with virtual information sessions throughout January and February.

“We’ll also work closely with locals in Balgowlah, where we’ll be returning an area equivalent to around 90 per cent of the current open space to the community. Further consultation will be held with the community on open space in Balgowlah later in 2021.”

The tunnel will be up to 108 metres in depth (approximately 33 storeys) and include new connections on the Gore Hill Freeway at Artarmon, Warringah Freeway at Cammeray and direct access onto Burnt Bridge Creek Deviation at Balgowlah and Wakehurst Parkway at Seaforth.

The Wakehurst Parkway will be widened from one lane to two in each direction between Seaforth and Frenchs Forest.

<h2>Sydney properties selling now:</h2>

[smartcode_project:default project_id=21618]

[smartcode_project:default project_id=7619]

[smartcode_project:default project_id=7758]
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The mega-project will include twin tunnels under Middle Harbour with three lanes in each direction.


urban.com.au

Northern Beaches set to boom with Beaches Link announcement

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Risk appetite and investment strategy will play a large role in deciding where to invest, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
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The HTW report suggest the entry level price point of $700,000 and products on offer appeal primarily to first home buyers and investors.
"An investor should be mindful of vacancy rates, competing stock levels and planned infrastructure upgrades, making sure to utilise the most recent market evidence to justify any decisions," the valuation firm said. 
Value levels have performed better than forecast during the COVID-19 period, with CoreLogic reporting a 0.4 per cent decline in dwelling values across Sydney in May. 
Median data suggests the Northern Beaches is still currently well above 2019 levels for both unit and dwellings. Sqmresearch.com has current median listing prices of dwellings at $2 million, well above the May 2019 low of $1.69 million.
Given that $700,000 is well below the median dwelling value of $1.8 million (CoreLogic as at March 2020) it would take something fairly unusual and a property in Wheeler Heights just so happens to have sold recently, the report noted. 
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-wheeler+heights-106266168" target="_blank">65A Penrith Avenue, Wheeler Heights </a>(pictured above) is a lower level duplex built circa 1970’s that has been renovated internally and features one bedroom, one bathroom, open plan living room and entertaining deck and courtyard.
This compact semi-detached dwelling sold in February 2020 for $700,000 and was last leased for $450 per week in 2019.
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A budget of $700,000 provides a plethora of opportunities in the unit market with a number of suburbs including Mona Vale, Dee Why, Avalon, Manly, Collaroy, Newport and Brookvale having a range of unit types available for under $700,000 (some as low as $450,000). 
"One-bedroom units are available from as low as $500,000 in Dee Why, so $700,000 would allow the opportunity for a modern or renovated one-bedroom unit. 
"Alternatively, older style two-bedroom units are available from circa $650,000," the valuation firm said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/28/dee%20why.jpg" alt="">
A recent example is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-dee+why-133312094" target="_blank"> 8/14 Lismore Avenue, Dee Why</a> (pictured above).
The renovated circa 1970’s two-bedroom, one-bathroom unit sold for $665,000 on 28 May.
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Dee Why would offer a higher yield potential (circa four per cent) although historically offers lower capital growth prospects in comparison to other nearby suburbs. 
Alternatively, an older style unit in a busier position in Balgowlah or Manly is available for a similar value level, the report noted. 
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j.ballantyne1990-6AQqhLzZaK

What a lazy $700,000 can buy on Sydney's Northern Beaches: HTW residential 

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The Northern Beaches area is heavily owner- occupier driven and most renovations occur for this purpose, whether that be for first-home buyers looking to add value or families looking to upsize but remain in their existing homes, according to the latest Herron Todd White (HTW) residential report. 
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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 residential 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 Freshwater is one of the most active suburbs for home renovations at the moment.
"The suburb has one of the highest number of outstanding development applications in the Northern Beaches Council with around 30, particularly high considering the size of the suburb," the valuation firm said. 
Entry level into the Freshwater market for housing is typically $1.5 million to $2 million, depending on the position in the suburb, land characteristics and accommodation size.Generally speaking, construction works typically return their cost and often a profit.
"It is prudent to analyse sales in the local area of finished, renovated homes if creating equity is a major factor in your decision to renovate. 
"The sales will assist in determining what the market is willing to pay for certain products, help set a construction budget and provide design ideas and concepts that the local market is receptive to," the valuation firm said. 
<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/2020/6/10/freshwater%20after%20.jpg" alt="">
A recent example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-freshwater-133208874" target="_blank">70 Soldiers Avenue, Freshwater</a> (pictured above) which sold for $2.725 million on 9 April 2020.
This circa 1960s, four-bedroom, three- bathroom property recently underwent a full renovation and is a good benchmark for owners looking to renovate their existing homes in the suburb.
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Freshwater - the most active suburbs for home renovations in the Northern Beaches: HTW residential 

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The first home buyer market is more sensitive to general economic factors such as interest rate movement and fiscal policy, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and provided some take on how current crisis is playing into decision making. 
The report suggests that Localised factors such as supply levels also play a part, with affordability being a key market driver. 
Brookvale is a popular sublrb for first home buyers, having one of the lowest median unit prices of $745,000 as at December 2019, in comparison to the Northern Beaches median of $875,000 (source: CoreLogic).
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"The area has seen strong development over the course of the past decade, resulting in a healthy level of stock that has consequently placed downward pressure on values," the valuation firm said. 
<a href="https://www.propertyobserver.com.au/images/2020/4/20/northern%20beaches%20.jpg" target="_blank">Click here </a>to enlarge: 
<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/2020/4/20/northern%20beaches%20.jpg" alt="">
Northern Beaches building approvals dropped drastically in 2018/2019 and are tracking at similar levels for the 2019/2020 financial year.
"There is a clear correlation between volume levels and building approvals and we would anticipate these factors to impact the first home buyer unit market," the valuation firm said. 
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"For the upgrader market, we’ve seen strong demand from buyers outside of the Peninsular really driving this level of the market," the valuation firm continued. 
Realestate. com.au reported that 2019 was the first time more outside buyers were searching for properties on the Northern Beaches than those within.
The inner-west and eastern suburbs were key regions, with factors such as infrastructure upgrades including the B-line providing faster commuting options to the CBD, increase in flexible working arrangements allowing individuals to work from home more frequently, and the affordability of the area in relation to other Sydney regions proving key factors in this shift.
At the prestige end, Palm Beach is synonymous with prestige and a large number of these properties are owned by high net worth individuals from outside of the Northern Beaches, however there is also a strong local prestige market along the coastline, the report noted. 
<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/2020/4/20/Collaroy%20Plateau.jpg" alt="">
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<a href="https://www.realestate.com.au/property-house-nsw-collaroy-133077790" target="_blank">67 Edgecliffe Boulevard, Collaroy Plateau</a> (pictured above) is currently on the market through Knight Frank with a reported initial guide of $10 million, roughly $5 million above the suburb record.
According to the HTW report, this brand new luxury asset is sure to appeal to both local and international markets due to the ultra-modern finishes, unique position and unbeatable views.
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"Whilst we have not seen any recent change in market sentiment and values to date, the outlook for the prestige sector remains rather uncertain.
"If the current global economic turmoil continues, we consider this will likely have a negative impact on demand and value levels," the valuation firm concluded. 
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Northern Beaches prestige sector remains uncertain in the time of COVID-19 pandemic: HTW residential 

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Sydney’s infrastructure boom is rolling on with the North Connex tunnel opening later this year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
"This tunnel will take five thousand trucks per day off Pennant Hills Road and reduce travel times between the M1 and M2. We believe the big winners will be the more affordable suburbs in the upper North Shore of Mount Colah, Berowra and Mt Ku Ring Gai," the valuation firm stated. 
These suburbs will have a greatly reduced travel time to the CBD and the M2 motorway.
"Keep an eye on the median house prices in these areas over the next few years," the valuation firm said. 
The report suggests the Northern Beaches market as a whole is expected to stabilise, barring any significant political or financial legislative changes.
"If 2019 taught us anything, it was how these two factors heavily contribute to underlying market conditions and overall market sentiment, particularly in the entry and middle sectors," the valuation firm said. 
How the Reserve Bank manages the Australian macro-economic issues will likely have the largest impact on the performance of the housing market, with housing stock levels anticipated to remain fairly low.
"We are anticipating blue-chip suburbs along the eastern side of Pittwater Road to outperform their western counterparts. Special areas of interest include Ingleside, Avalon, Warriewood Valley and Frenchs Forest," the valuation firm said. 
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The Ingleside Precinct Plan went back to the drawing board in 2019 and it will be interesting to see the revised plans that the council and New South Wales state government re-submit. 
Still a medium to long term prospect, but the progression of this area is something to keep an eye on in 2020, especially with the Mona Vale Road upgrades currently underway.
A five bedroom house in Ingleside is currently on the market with a price guide of $2.35 million.
The two storey brick veneer house is located at <a href="https://www.realestate.com.au/property-house-nsw-ingleside-131398374" target="_blank">240 Powderworks Road</a> (pictured below).
Nestled over 3,072sqm, the house comprises five bedrooms, three bathrooms, country style kitchen, and double lock up garage. 
<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/2020/2/10/ingleside%202.jpg" alt="">
The report suggests there are many commonalities between Avalon and Byron Bay. 
The suburb has a unique vibe and has become really popular for young families, particularly from the eastern suburbs and lower suburbs of the Northern Beaches. 
Families are seeing value without compromising on lifestyle. 
The suburb had one of the highest auction clearance rates and we anticipate the suburb to continue to perform in 2020.
An Avalon Beach beach house was sold for $1.8 million in December, 2019.
The four bedroom, two bathroom holiday house is located at <a href="https://www.realestate.com.au/sold/property-house-nsw-avalon+beach-132589574" target="_blank">81 Riverview Road</a> (pictured below).
The weatherboard cottage features open plan with polished timber floors, expansive balcony and open fireplace. 
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The final land releases in Warriewood Valley, located off Warriewood Road, are currently on the market. 
The land sizes range mostly between 325 and 450 square metres and are around $3000 to $3500 per square metre.
 2020 is likely to be the last year where a large scale land subdivision occurs for quite some time.
Lastly, a key infrastructure milestone was completed in December 2019 with the excavation of the 1.3 kilometre long Warringah Road underpass finished. 
"The underpass will eventually provide more capacity for the thousands of daily motorists, ease current heavy traffic congestion and help reduce travel times. 
"We also expect to see a continuation of investment at both a private and public level around the $1 billion Northern Beaches Hospital." 
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Northern Beaches market expected to stabilise in 2020: HTW residential 

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EXPERT OBSERVER
Six months ago it was hard to find any suburbs across the Greater Sydney Area with rising buyer demand, but now there are many. It’s been a sharp turnaround – but an uneven one.
Overall, this is the strongest Sydney market I’ve recorded in the five years that I’ve been conducting quarterly surveys of sales activity and price trends. 
Our Winter 2019 survey pinpointed the bottom of the Sydney trough and our latest survey, now under way, provides strong evidence of the market revival, showing just how much has changed since the middle of last year. 
Locations with rising markets, as measured by sales activity, can be found in 22 municipalities across the Sydney metro area, but the revival is not evenly distributed. The greatest uplift is being felt at the upper end of the market and many suburbs have not yet experienced significant improvement.
The number of suburbs classified as declining markets has dropped a lot but there are still 12 suburbs with deteriorating demand – and another 12 that have that characteristic as well as high vacancies and weak prices, which we therefore classify as danger markets.
There danger markets are all locations where apartments predominate. Seven of them are in the Parramatta LGA, where high levels of new apartments have been built in recent years and vacancies remain in the 5% to 8% range in several cases.
The leading market in the Greater Sydney Area is the Northern Beaches LGA. It has nine suburbs with rising sales activity, plus six others with steady buyer demand. 
Quarterly sales in Newport have been 28-36-53-64, while Freshwater and Frenchs Forest are stand-outs for maintaining highly consistently sales levels throughout the post-boom correction phase and now in the recovery.
The Inner West LGA is also performing well, with six growth suburbs and nine others with consistent buyer demand. Quarterly sales in Annandale have been 17-32-36-45-64, while Leichardt has been 59-68-77-105, patterns that will likely drive prices higher.
The Sydney City LGA has growth suburbs, but also shows the importance of not generalizing when discussing real estate in a major city. The central city LGA has five suburbs with growing sales activity, 11 with steady markets, three where demand continues to decline and one suburb which we classify as a danger market. All that diversity exists in one municipality. 
Blacktown is the strongest of the outer-ring markets, with five growth suburbs and 11 with steady sales activity. Schofields continues to stand out with rising sales activity – quarterly sales over the past two years have been 64-82-99-105-120-150-196-162.
Other LGAs with three or four growth suburbs include the Hills Shire, Ku-ring-gai, North Sydney and Sutherland municipalities.
This new survey also shows the recovery in the Canterbury-Bankstown area. Six months ago, 12 suburbs in this LGA were rated as declining markets, with sales levels dropping markedly. But now most of these suburbs have been re-classified as plateau markets, as sales levels start to improve. And four suburbs of the Canterbury-Bankstown LGA have shown sufficient revival to be classified as rising markets.
Across Greater Sydney, prices are reacting to the uplift in demand that is generally occurring in many locations, but most suburbs still have median prices below the levels of 12 months ago. This applies to 92% of suburbs for houses and 85% of suburbs for apartments.
But many suburbs have shown increases in the latest quarter. Examples include Mona Vale (median house price down 8% annually but up 2.3% in the latest quarter); Collaroy (down 15% in annual terms but up 9.5% quarter-to-quarter); Bronte (down 9% year-on-year but up 2.6% in the latest quarter); and Killara (down 15% annually but up 3% quarter-to-quarter). 
This is a pattern I expect to see becoming increasingly prevalent as the uplift being led by the more expensive areas spreads more widely across the metro area.
Terry Ryder is the founder of hotspotting.com.au <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au </a>twitter.com/hotspotting
PICTURE SOURCE: <a class="external text" href="https://www.flickr.com/photos/34120957@N04" target="_blank" rel="nofollow">Alex Proimos</a>
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The housing market on Sydney's Northern Beaches is heavily owner-occupier driven given its entry costs and lower than average yields.
They sits at 2.9% for houses according to SQM Research.
The desired yield ultimately comes down to investment strategy, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at yields across the country and dissected where to find the best returns in residential markets. 
The report notes higher yielding properties typically offer lower capital growth prospects.
"If you are not predicting market conditions to improve over the short to medium term, it may be a good opportunity to capitalise on a high yielding property, generate cash flow and achieve a higher annual rate of return over the short to medium term," the valuation firm said. 
"A severe lack of short-term accommodation options has resulted in Airbnb becoming a popular and lucrative investment model on the Northern Beaches, particularly when you consider how popular a destination the area is for weekend getaways, weddings and events." 
According to the HTW report, a popular investment product due to its entry level price point, prime location and strong rental marketability is<a href="https://www.realestate.com.au/sold/property-apartment-nsw-manly-130920610" target="_blank"> </a>22 Central Avenue, Manly (pictured below).
The complex offers a mixture of studio and one bedroom apartments and gives a great indication of just how much short-term leasing can boost your yield to maximise cash generation. 
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-manly-130920610" target="_blank">809/22 Central Avenue</a>, Manly sold in August 2019 for $870,000 (pictured below).
The property would lease on an annual basis for $600 per week, equating to a gross yield of 3.58%.
<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/2019/10/14/manly%202.jpg" alt="">
A near identical unit is currently on Airbnb for $150 per night.
This annualises to a potential fully let gross yield of 6.2%.
"Obviously not entirely realistic, but if we were to annualise the current bookings in the fourth quarter of 2019, the gross yield equates to 4.75%," the valuation firm said.
"Factoring in subsequent bookings through this period, a 5% gross yield is not out of the question and a tidy increase on the traditionally leased 3.58% yield."
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Owner-occupier driven Northern Beaches market sees 2.9% yields for houses: HTW residential 

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There would be no great surprise to most that the sub-$500,000 market is still thin in the Northern Beaches, according to a recent Herron Todd White (HTW) residential report. 
The report notes there is currently a greater amount of stock, a wider variety and located in a number of additional suburbs than there has been for several years.
A Narrabeen sale in June for $450,000 with a 4.7% yield, a Balgowlah sale in April for $425,000 with a 4.8% yield, an Avalon sale in May for $450,000 with a 4.4% yield and a Dee Why sale in May for $450,000 with a five% yield, are all areas in which older style one-bedroom units have sold in 2019.
The report notes that the only suburb where a two-bedroom unit is available in this price range is Dee Why, with a unit at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-dee+why-130777654" target="_blank"> 2/7 Ilikai Place</a> (pictured above) scraping in at $500,000 even, enjoying a 4.7% yield.
"The product types and price bracket obviously appeal primarily to first home buyers and investors.
"Interestingly, four of the five examples have been subsequently listed for rent immediately after the sale, which is a good indication of the target market," the valuation firm said. 
Yields between 4-5% are fairly consistent across the board, with rents ranging between $380 and $465 per week for the above mentioned properties.
"By looking at buying the ugly duckling in a desired location, there is opportunity to create value and it is much easier to renovate than relocate your unit.
"Whilst there should be no expectation of any significant capital growth over the next 12-month period, there are some early market indicators that the worst may be behind us," the valuation firm said.
<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/2019/8/15/beacon%20hill.jpg" alt="">
The cheapest house sale of 2019 currently goes to 2 Ellis Road, Beacon Hill (pictured above), the HTW report noted
The sale represents the absolute bottom end of the market, selling at auction for $850,000 in February, well below the Beacon Hill median house price of $1,421,000, according to CoreLogic.
"As you can imagine, the price discount comes at a cost to the location and the quality of the existing improvements," the valuation firm commented. 
The property comprises the original circa 1960s timber weatherboard dwelling, situated on 538 square metres of land and adversely located on the corner of a busy intersection to Warringah Road.
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