Burgeoning developer&nbsp;<a href="https://www.apartments.com.au/developers/freecity">Freecity</a>&nbsp;is the latest to take on the booming North Sydney apartment market, one of the most popular suburbs with off the plan buyers.

They are taking a <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">51-storey tower on Walker Street</a> to the NSW Government's&nbsp;Housing Delivery Authority, filing a State Significant Development Application for 300 apartments above a 150-room hotel. It will replace two commercial office buildings.

According to the Scoping Report prepared by Urbis, the development will "support the ongoing evolution of North Sydney by delivering a high-quality, mixed-use tower in close proximity to major public infrastructure."

They also said it “responds to the competing urban demands” of housing, hospitality, and employment.

<img alt="153–157 Walker Street" data-entity-type="file" data-entity-uuid="53e44b04-851c-496e-b90c-e4d77aa8f000" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Waler-St-Elevated-View-600x600.jpg?VersionId=fSDYrb1wJR.RVZVWo3wRUaw9n265x1Ka" />

The vertical program places hotel uses on levels one to six, activated by a retail arcade and hotel entry, while the upper levels contain communal amenity and transition spaces. The residential component will be delivered across levels 8 to 47 and includes a mix of one to three-bedroom apartments. Shared facilities include a rooftop lounge, dining space, and landscaped terrace with panoramic views.&nbsp;

The design also accommodates a publicly accessible through-site link connecting Walker and Little Walker Streets.&nbsp;

<img alt="Freecity" data-entity-type="file" data-entity-uuid="26165ce9-e49d-4efb-9e9c-037392707d9f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_1.png?VersionId=lAet4uJy_uNw3nc2e6hBc6302r9Q1dUB" />

The built form continues to reflect the earlier design vision by <a href="https://www.apartments.com.au/architects/architectus">Architectus</a>, with a distinctive two-volume massing: hotel podium stepping down to Little Walker Street, and the slender residential tower rising above. The architecture intends to balance North Sydney’s increasing urban density with solar access, view sharing, and a fine-grain public realm interface.

“The form has been sculpted to preserve sky view corridors and reduce visual bulk,” the Design Report by Architectus previously noted, highlighting view preservation and contextual integration.

Importantly, this latest iteration supersedes an earlier SSD pathway explored in late 2024 for a build-to-rent and hotel project. That alternative scheme has since been shelved following Freecity’s successful submission to the HDA’s new streamlined approval stream.

<img alt="153–157 Walker Street" data-entity-type="file" data-entity-uuid="f70e4ee4-4599-411b-9fc1-802c4292819e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Littile-Walker_Elevated-800x600.jpg?VersionId=zhfw3NMg_jchSSWuUHJJg8.m.qhqZgYM" />

The site sits within the Victoria Cross Station State Significant Precinct and is expected to integrate with broader public domain upgrades around the Metro station, including new pedestrian links and plaza connections between Berry and Walker Streets.

&nbsp;

North Sydney has been one of the most indemand suburbs in Sydney, however it has struggled with supply. <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a> was one of the only developments in market for several years, until the recent launches of <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, which sold over $100m of sales in three hours, and <a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a> by CASA.

&nbsp;

Joel Robinson

Freecity joins booming North Sydney apartment market with 51-storey tower proposal near Victoria Cross

Prolific Sydney developer Landmark Group is continuing to expand its growing development portfolio.

<a href="https://www.apartments.com.au/developers/landmark-group">Landmark Group</a>, which is progressing with a new Edgecliff project alongside current developments in Macquarie Park and Caringbah, is set to deliver rare new apartment supply in Lindfield, the affluent suburb on Sydney’s Upper North Shore. The projects form part of the NSW Government’s broader push to increase housing density around key transport hubs.

The developer currently has two proposals under assessment through the NSW Government’s Housing Delivery Authority. Together, they comprise nearly 400 apartments, 220 across a large 6,672 sqm amalgamated site spanning Trafalgar Avenue and Valley Road, and a further 173 apartments just 300 metres away on Middle Harbour Road.

The Trafalgar Avenue project, dubbed <a href="https://www.apartments.com.au/new-apartments/lindfield-house-5-7-middle-harbour-road-lindfield-nsw-2070">Lindfield House</a>, is located around 500 metres from Lindfield train station. It will feature 220 apartments across three buildings. Architecture firm DKO, which designed the scheme, said in its submission that the façade strategy is guided by design principles promoting refined architectural expression, contextual sensitivity, and a human-scaled urban response.

“Central to this approach is a layered and sculptural composition, where massing, materiality, and depth are strategically modulated to create a dynamic and visually legible built form. The architecture is defined by a clear hierarchical organisation: a robust, grounded podium provides a strong interface with the public realm, while lighter upper tiers recede into the skyline,” DKO said.

<img alt="Landmark" data-entity-type="file" data-entity-uuid="d934b639-becc-4778-9756-979a2d6ef514" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-22%20at%2010.41.27%E2%80%AFAM.png?VersionId=Ss4AdKdVpjArekAiir2213cjcWrAgBJz" /> 
The open courtyard between the buildings

DKO also designed the Middle Harbour Road project, which is closer to the station. The nine-storey building is "structured to respect the surrounding context and provide a clear urban transition."

“The design aims to respond to both the low-scale residential development of the heritage overlay precinct and the highway development immediately to the south in the North Sydney CBD”.

The mix of units is intended to serve both general market demand and key worker housing, with affordable housing apartments integrated at the lower levels. The proposed building steps from six to nine storeys as it ascends from the rear to the street front, creating a layered form that mediates between the different scales of surrounding built form.

&nbsp;

<img alt="Lindfield" data-entity-type="file" data-entity-uuid="e051aae5-0174-48b4-a033-823eb2a0e333" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-22%20at%2010.30.12%E2%80%AFAM.png?VersionId=OqU2XRPU9vr6id0hddHlfHXODOI7s99z" /> 
The Middle Harbour Road site

&nbsp;

<a href="https://www.apartments.com.au/developers/landmark-group">Landmark Group</a> has&nbsp;delivered more than 4,000 homes across Australia, with a future pipeline worth $5 billion. Among their pipeline of projects is a <a href="https://www.apartments.com.au/news/nsw/first-look-landmark-group-tries-again-with-edgecliff-tower-plans">new mixed-use development near Edgecliff Station</a>.&nbsp;

They are also have live projects in Macquarie Park, Caringbah, and Dee Why.

First look: Landmark Group to bring new apartments to Lindfield

From suburban apartment blocks to skyline-defining towers, <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a>’s journey over the past 26 years has been one of consistent expansion and scale. The last decade in particular has seen Deicorp become one of the most prolific developers in Greater Sydney. Now with a $3.5 billion pipeline and some of its boldest projects yet, the developer is taking on central Sydney, starting with <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a>.

Deicorp founder Fouad Deiri started the company in 1999 initially working out of a small office in Hurstville, with a 21-unit townhouse project in Albert Street Newtown. With a small but capable team, they utilised their extensive construction industry experience to grow the scale and complexity of jobs to now having a team of more than 200 with more than 4,000 units currently under construction.&nbsp;

[smartcode_project:default project_id=21809 project_image_fid=351911]

One of their most significant developments, Hyde Metropolitan, will arguably become one of their greatest feats, reshaping the city skyline at the southern end of Hyde Park.

Deicorp is already nearly five years into the development process. It was 2021 when they secured the Polding Centre, a 1970s, 24-storey office building on the corner of Liverpool and Castlereagh Street, from the Catholic Archdiocese of Sydney, following a six-month competitive process.

As per the City of Sydney regulations when developing within their council to the scale of such a building, the council undertook a competitive design process where architects put forward different designs and schemes for the site.

[smartcode_project:default project_id=21809 project_image_fid=215742]

They settled on the proposal by renowned architect <a href="https://www.apartments.com.au/architects/candalepas-associates">Angelo Candelapas</a>, which would bring to life their vision to create one of the best new developments within the CBD.

“I cannot imagine anything more beautiful than the delivery of a building which can demonstrate a deep affection for our sun,” Angelo Candelapas said of the design. “It is a building with dramatic foyers and an oasis garden for the residents. These two facilities link to provide a sense of wellness and nature in the centre of the city.”

[smartcode_project:default project_id=21809 project_image_fid=215741]

Fouad Deiri said he had long admired the innovation and design language of Candelapas.

“Deicorp has deliberately partnered with some of Sydney’s most recognised and capable architects in the past and we understand the value of working with truly talented designers,” Deiri said.

There are just under 170 apartments on offer at Hyde Metropolitan, a mix of one-, two-, and three-bedroom residences, many with never-to-be-built-out views over Hyde Park and towards the Harbour.

[smartcode_project:default project_id=21809 project_image_fid=215728]

Upon arrival, residents will be greeted by an eight-level-high private lobby with arched cathedral fenestrations, serving as a podium to the 55-level tower. The ground level will also host a high-end restaurant and cocktail lounge, very much in keeping with its vibrant streetscape.

The resident amenity will sit on top of the podium and will feature a 25-metre pool, landscaped courtyards and gardens, a barbecue area, gym with a sauna, and a music room. Sales are being handled by <a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a>. SRM Director Dave Milton said Hyde Metropolitan will be "one of the preeminent Sydney residential developments on the southern end of Hyde Park."

Hyde Metropolitan is one of nine developments either under construction, in planning, or in market for Deicorp.

Their next project to launch, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in <a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>, will be their first development on Sydney’s Lower North Shore. True to tradition, Deicorp has already commenced construction on Falcon &amp; Alexander, prominently positioned at The Five Ways junction, placing it a five-minute walk from the new Metro station and in close proximity to Crows Nest Village. The one-, two-, and three-bedroom apartments will start from just under $1.3 million.

[smartcode_project:default project_id=135323 project_image_fid=351946]

Deicorp will roll into 2026 with several more projects to launch to the market for the first time.

They have already cleared their massive 2.87-hectare site Zetland that borders Gunyama Park, where they will transform a former industrial site into <a href="https://www.apartments.com.au/new-apartments/the-avenues-zetland-130-joynton-avenue-zetland-nsw-2017">The Avenues</a>, 624 apartments across nine buildings, curated ground-floor retail, purpose-built student housing, and build-to-rent dwellings delivered in partnership with Scape. It is one of the largest developments to be launched in Sydney’s inner south in recent years.

One of their most anticipated projects is the $1.8 billion Five Dock masterplan <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> (below), to be delivered in a joint venture with non-bank lender Metrics.

<img alt="Deicorp teams up with Metrics for $1.88 billion Kings Bay Village, Five Dock masterplan" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-08-14%20at%208.12.53%E2%80%AFAM.png?VersionId=_9z4I8B0EIzrXe3ldnXti1bSXCeoZi2W" />

Kings Bay Village will comprise 1,185 new homes, including 218 affordable dwellings for essential workers, along with 6,500 sqm of public open space and 14,700 sqm of vibrant retail and commercial offerings.

Add to that more releases at their <a href="https://www.apartments.com.au/new-apartments/showground-pavilions-castle-hill-3-andalusian-way-castle-hill-nsw-2154">Castle Hill Showgrounds</a> precinct, and their under construction projects in Rhodes and Parramatta, Deicorp is in the midst of adding a much-needed 3,000 new apartments to some of Sydney’s most sought-after postcodes.

Read more: <a href="https://www.apartments.com.au/news/nsw/deicorp-teams-up-with-metrics-for-1-88-billion-kings-bay-village-five-dock-masterplan">Deicorp teams up with Metrics for $1.88 billion Kings Bay Village, Five Dock masterplan</a>

Deicorp dives into luxury as Sydney apartment development pipeline grows

A prominent corner in Wynnum’s central precinct could be reshaped under new plans from <a href="https://www.apartments.com.au/developers/toore-developments">Torre Development</a>, with a development application now with council for a sculptural eight-storey apartment building combining residential, office, and recreation uses.

Situated at <a href="https://www.apartments.com.au/new-apartments/63-bay-terrace-wynnum-qld-4178">63 Bay Terrace</a>, the 2,014 sqm site lies at the intersection with Charlotte Street, within the Wynnum-Manly Neighbourhood Plan’s Wynnum central business district sub-precinct. The proposal seeks to deliver 78 apartments above ground-floor non-residential tenancies, with architecture by Plus Studio.

The proposed building will be a mix of 58 two-bedroom and 20 three-bedroom apartments spread across seven residential levels, crowned by a 914 sqm communal rooftop terrace featuring a pool, gym, sauna, and private dining areas.

Ground level activation is a key aspect of the design, with 771 sqm of office and indoor sport and recreation space proposed to reinforce the area’s major centre designation. The site will also deliver improved pedestrian amenity via a recessed entry plaza on Bay Terrace and a landscaped public realm along Charlotte Street.

<img alt="63 Bay Terrace, Wynnum" data-entity-type="file" data-entity-uuid="4e5ef890-2f8f-4bbd-9ff1-57fa4e4360d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Wynnum%20podium.png?VersionId=7_if97F1KAYrTX2BQrNspFInEHwXcQRd" />

In their design report, <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> described the form as “sculpted into a rhythmic wave, amplifying facade dynamism while merging interior life seamlessly with the city’s texture to evoke a fluid, immersive urban living experience”.

Vehicle access will be via Bay Terrace, with four basement levels accommodating 197 car spaces, including 177 for residents. Bicycle storage is also provided for 193 bikes.

The building’s architectural character is marked by curved balconies, horizontal banding at podium level, and lush greenery integrated throughout.

“Traditional developments in Wynnum typically feature above-ground car parking, a tiered 'wedding-cake' building form, no podium-level landscaping, and no rooftop amenities,” Mewing Planning noted in the DA, positioning this proposal as a departure from the norm.

The new development is Torre's second in the area, having recently completed Catalina, a more boutique building with 28 apartments.

There are only two new developments currently on the market in Wynnum: Panorama on Bay Terrace and Adena Residences on Sorrento Street, the latter of which is nearing completion.

First look: Torre eyes sculpted mixed-use apartment tower for key Wynnum corner

“We honestly never thought we’d have penthouses.”

That was the view from <a href="https://www.apartments.com.au/developers/ellipse-property-group">Ellipse Property Group</a>, developer of <a href="https://www.apartments.com.au/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill-nsw-2154">Carrington Place</a>, Cas​tle Hill’s $850 million masterplanned community. Atrium, the project’s first stage, has been one of the Hills Shire’s most successful launches, with sales cutting across almost every buyer demographic. But it was one group in particular, downsizers, that shaped the next evolution of the development.

“Our large three-bedroom apartments, anything bigger than 135 sqm, were quickly getting snapped up,” says Puja Khanna, Ellipse’s Sales, Marketing and Design Associate Director. “We had a huge amount of interest from downsizers who were living in houses and used to having extra space. Many hadn’t wanted to leave because they couldn’t see themselves in a smaller apartment.”

[smartcode_project:default project_id=89496 project_image_fid=353654]

That demand drove Ellipse to reconfigure layouts during the early stages of the construction phase. “At one point a buyer asked us to combine a two-bedroom and a one-bedroom into a 145 sqm three-bedroom. We applied that across the stack and created five more, they all sold very quickly.&nbsp; Then another buyer wanted something even bigger. We looked strategically at how to cater for this appetite and ended up redesigning the whole of the top level. Sixteen units became eight penthouses, each one unique in its design, configuration, or aspect.”

Ellipse’s new penthouse collection takes space and finishes to another level. Offering up to 334 sqm of indoor-outdoor living, they feature stone kitchens with central islands designed for entertaining, walk-in pantries, and a full suite of integrated Miele appliances and a Fisher &amp; Paykel fridge.

[smartcode_project:default project_id=89496 project_image_fid=353655]

Living areas are anchored by luxury fireplaces, while expansive balconies and terraces include outdoor kitchens with bar fridges, sinks, and built-in barbecue benches. Bathrooms will feature large-format porcelain tiles, brushed brass fittings, frameless shower screens, and floating timber-toned vanities.

“We’ve already had a buyer secure one of the penthouses purely from a hand-sketch drawing,” Khanna says. “We worked with them for months to refine the specifications and inclusions. That consultation process has helped shape the rest of the penthouses — some even feature two separate living spaces.”

[smartcode_project:default project_id=89496 project_image_fid=353653]

Ellipse’s builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, an award-winning Tier 2 residential builder and one of the first to achieve a prestigious Gold iCIRT rating, is well advanced in construction at Atrium, which is expected to welcome its first residents in mid-2026.

There will be four stages to Carrington Place, delivering over 800 apartments alongside 20,000 sqm of outdoor recreation space. Plans include a one-kilometre boardwalk connecting to Fred Caterson Reserve, along with extensive landscaping and community amenity. Ellipse has recently launched Carrington Place’s second stage, Lily Lane, which will deliver 220 new apartments across two new buildings.

[smartcode_project_cta:default project_id=89496]

Ellipse Property unveils Atrium Penthouse Collection at Carrington Place, Castle Hill

Queensland Market Monitor

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SPONSORED POST
Welcome to a brand new year and the fifth edition of Urban Appeal magazine – Choice Homes’ guide to the many residential property investment opportunities in Queensland.
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I’m buoyed by the Queensland economy’s ongoing expansion thanks to continued population growth and an increase in tourism. 
We are expected to hit 6.7 million people by 2036 and the South East will be at the forefront of this massive increase, with an extra 2 million people set to live in the region. 
Over the past 26 years, Choice Homes has built premier residential housing throughout the state and we are excited about what the future holds. 
Probably the biggest shift for 2019 will be the impact of cooling property houses in the southern states. For South East Queensland this spells opportunity as more people look to the Sunshine State to either relocate or invest. 
Either way it will see a continued upswing in our property market, and the signs are already showing. For example Queensland continues to come out on top with nearly 70 suburbs recording double-digit growth over the past 12 months to June, according to a recent REIQ report. 
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The property price boom has continued on the Gold Coast as well, with four suburbs seeing double digit growth, showing select locations are performing exceptionally well. 
Choice Homes has strategically positioned itself in a number of these growth areas to provide a range of quality residential investment opportunities. 
With the wave of exciting new development in the pipeline, and the green light being given on several major infrastructure upgrades in the area, investing in South East Queensland continues to be a smart strategy.
We are also seeing the green shoots of growth in key towns in Central Queensland. Several mining projects have either commenced or restarted, quietly increasing the value of property in strategically placed areas such as Mackay.
From a company perspective, our joint initiative with SunYield by Stoddart
Group continues to add extra value for our investors. The program adds an additional $25 a week to investor's rental income through a solar scheme that puts a 6.5kW PV system on new houses built by Choice Homes.
This is truly a game- changer for the housing investment market with benefits for investors, tenants and the environment.
Choice Homes is also passionate about giving back to the community and supports a number of business, sporting and community-based organisations and initiatives, and we will continue to do so throughout the year.
Choice Homes’ reputation has been built over a quarter-century of hard work and industry smarts, and we will continue to provide quality homes in growth locations for many years to come.
Troy Knight is the director of Choice Homes.
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To download Choice Homes Urban Appeal 2019 magazine, <a href="https://www.choicehomes.com.au/estate/sovereign-estate" target="_blank">click here</a>.
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jrobinson-rf4aSBido9

Choice Homes launch fifth edition of Urban Appeal magazine

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Toowoomba’s property market continues to perform strongly, according to REIQ's latest Queensland Market Monitor’s quarterly report.
Over the medium term, Toowoomba has been a strong regional performer with the annual median sale price growing 21.1% for houses and 25.7% for units.
This ranks Toowoomba as the third-strongest performing regional market for housing and the best performing regional market for units in the state.
In a climate where regional residential markets have been severely challenged, this is a noteworthy result.
The March quarter delivered positive results with the median house price growing 1.3% to $355,000 and the median unit price grew a solid 2% to $309,500.
Toowoomba is one of the few regions in Queensland favoured with large infrastructure investment.
The $1.6 billion Toowoomba Second Range Crossing, the Gore Highway Interchange construction, the Murphys Creek Road and Postmans Ridge Road realignment, commencing this year.
Toowoomba is a steady market for both houses and units with a solid pipeline of projects in the region.
However, there is an increase in the supply of houses and units to this market which could affect the equilibrium of the market and its positive outlook over the coming months.
Toowoomba’s house market slipped of 0.8% over the past 12 months, to an annual median house price of $350,000 for March.
Over the medium term (five years), the housing market increased 21.1% or the equivalent of 3.9% per annum, from the annual median of $289,000 in March 2012.
There are some signs that demand is slowing.
The number of quarterly sales fell 2.4% from 551 in September to 538 in December.
Preliminary data shows a reduction to 426 transactions for the March quarter.
The most-active sale price for houses sits in transactions below $350,000.
Toowoomba is the second-most affordable local government area in the southeast corner, following Ipswich.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.41%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.41%20am.jpg" alt="">
The median days on market increased 10 days from 44 days in February 2016 to 54 days in February 2017.
The median vendor discounting, on the other hand, remained steady at 4.8%.
The number of listings increased significantly by 31.9% from 3906 listings in February 2016 to 5151 in February 2017.
This increase is just a reflect on of the growing supply of housing in the region.
The impact of the increasing supply on the market dynamics and median sale price will be monitored.
The unit market performed well this quarter reaching a quarterly growth of 2% to a median price of $309,500.
This growth partially compensated previous quarterly losses and helped control the dip on the annual median sale price of 0.6% with the annual median sale price falling to $308,000 for March 2017 from $310,000 for March 2016.
Over the medium term, Toowoomba remains the star performer for the unit market with the annual median sale price increasing from $245,000 in March 2012 to $308,000 in March 2017.
The size of the Toowoomba unit market is small, only about 500-600 sales per year. A comparison between the volume of sales in September and December 2016 demonstrates that demand remains steady with quarterly sales.
The most active price range for units is for transactions between $250,000 and $350,000, which aligns with the median sale price range.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.50%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/16/Screen%20Shot%202017-06-16%20at%2010.22.50%20am.jpg" alt="">
Market trend indicators for the 12 months to February 2017 show a slower market for units with the median days on market increasing to 80 days and the median vendor discounting reaching 5.1% for February 2017.
The number of listings reported a significant increase of 36.5% from 619 listings for February 2016 to 845 listings for February 2017.
The impact on the market equilibrium and pricing is still unknown and will be assessed when data for the June quarter is available.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-centenary+heights-125601038" target="_blank">147 Ramsay Street</a>, Centenary Heights (above) has been listed for over $349,000.
It was last sold in 2006 for $235,000 and the land was sold in 1984 for $22,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-middle+ridge-125015022" target="_blank">6/77 Bouganvillea Drive</a>, Middle Ridge (below) has been listed for over $299,000.
It last sold in 2012 for $316,500.
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j.ballantyne1990-6AQqhLzZaK

Toowoomba ranked third-strongest performing regional housing market in Queensland

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The Gold Coast housing market is the juggernaut of the southeast, reaching a new high median house price of $615,000 for the March quarter, according to REIQ's latest Queensland Market Monitor quarterly report.
The unit market, on the other hand, slipped 1.2 percent to a March quarter median of $410,000 compared to $415,000 for December 2016.
Looking at annual data, (which is less volatile than quarterly data) the Gold Coast has been one of the state’s best performers for the house and unit markets, reaching an annual growth of 6.4 percent for houses and 5.2 percent for units to March 2017.
The Commonwealth Games $160 million Roads package fully funded by the State Government has been one of the key drivers of economic development in the region.
This investment is still in progress and will deliver a significant road upgrade to Southport – Burleigh Roads, Labrador – Carrara Roads, Olsen Avenue and Nerang – Broadbeach Road.
In addition to the numerous Commonwealth Games projects, the $70 million Gold Coast cruise ship terminal proposal is getting closer to become a reality.
Environmental approval from the Federal Government, potentially the biggest hurdle for the project, was granted in mid-May 2017.
The economic fundamentals supporting the property market in the region are solid and driven by a large infrastructure investment program.
Local agents are very positive about the future of the residential property market.
However, in the post-Games period, the Gold Coast economy may require concerted efforts from all levels of government to ensure a jobs program is in place to shore up employment in the region.
The housing market performed strongly over the March quarter, with the quarterly price growing 4.2 percent to a new high of $615,000.
The annual median house price increased 6.4 percent to $585,000 for the 12 months to March.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.47.27%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.47.27%20pm.jpg" alt="">
This increase positioned the region as the second-best annual performer for the house market to March 2017 (following Noosa).
Over the medium term (five years), the Gold Coast median house price grew 26.5 percent, which equates to 4.8 percent per annum (from a median price of $462,500 in March 2012).
This makes the Gold Coast the strongest performing house market in the state over five years.
The Gold Coast has five suburbs with an annual median house price above $1 million, compared to only three suburbs for the March quarter 2016.
Paradise Point has entered the million-dollar club in this March quarter with an annual median sale price of $1.09 million.
Affordable houses in the region are still available primarily in the suburbs of Lower Beechmont, Jacobs Well, Neerang, Ormeau and Upper Coomera; which reported annual median sale price in the range of $385,000 to $468,000.
The volume of activity reduced 5.6 percent from 1892 in September 2016 to 1786 in December 2016.
Preliminary data for March indicates a reduction of about 23.1 percent to 1373 sales.
This data will have to be reassessed in the June 2017 Queensland Market Monitor to confirm whether the number of sales in the region is experiencing a downward trend or just quarterly volatility.
The most active price point for the house market has been the $500,000 to $750,000.
For the 12 months to February 2017, the median days on market and median vendor discounting reported minor changes.
A house in the Gold Coast takes approximately 35 days to sell and requires a discount of about 4.2 percent.
Housing supply increased 16.3 per cent to 11,514 listings for the 12 months to February, triggering an increase in the stock on market from 7.6 percent in February 2016 to 8.8 percent in February 2017.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-robina-125589182" target="_blank">74 Easthill Drive</a>, Robina (above) has been listed for $629,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-pacific+pines-125118482" target="_blank">36 Pago Terrace</a>, Pacific Pines (below) has been listed for over $600,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/16/36%20Pago%20Terrace.jpg" alt="">
The land was last sold in 2001 for $68,000 with the property built the following year.
The Gold Coast unit market slipped 1.2 percent to a March quarter median of $410,000, but it was still the busiest apartment market in Queensland, with preliminary sales of 1859 compared to Brisbane LGA of 1578 for the March quarter.
The annual median unit price increased 5.2 percent to $405,000 for March.
Similar to the house market, the Gold Coast is one of the best annual performer for the 12 months to March 2017.
Over a five-year period, the unit market increased by 12.5 percent, from an annual median sale price of $360,000 in March 2012 to $405,000 in March 2017, which is equivalent to moderate annual growth of 2.4 percent.
Based on annualised data to February 2017, units sell in about 50 days with a discount of 4.4 percent.
The annual number of listings to February 2017 increased 27.2 percent to 14,112.
This triggered a lift on the stock on market from 9.3 percent in February 2016 to 11.8 percent in February 2017.
The Gold Coast’s rental market has operated within the tight to healthy range for the past 19 quarters.
Vacancy rates returned to the tight range, reaching 1.7 percent over the March quarter.
Local real estate agents operating in the region indicated that generally properties remained vacant between 1 to 2 weeks and the market has performed well and reasonably steady over the past two to three years.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.47.34%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.47.34%20pm.jpg" alt="">
The Gold Coast’s rental market is the most expensive in Queensland with the median rent for a three-bedroom house at $470 per week, which is $30 a week more expensive than the same house in Brisbane LGA.
The median rent for a two-bedroom unit, at $420 per week, increased by $20 or about 5 percent over the March quarter.
This increase has positioned the Gold Coast two- bedroom unit rental market as one of the most expensive in Queensland, along with Brisbane LGA.
The weekly median rent of three-bedroom townhouses held steady at $420 for March.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.47.42%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.47.42%20pm.jpg" alt="">
The indicative gross rental yields for houses weakened by 0.2 percentage points to 4 percent for March due to the upward trend of the median sale price.
In contrast, the gross rental yields for units increased 0.2 percentage points to 5.3 percent due to the reduction on the quarterly median unit price.
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