<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Residential Market Trends

<html><body>
Derby, a town in the Kimberley region of Western Australia, has been ranked the nation's second slowest selling location.
Its house listings are typically for sale for 1099 days, according to Investar.
It suggests postcode 6728's median house price sits at $450,000, with 15.7% growth over the past year.
Its median rent sits at $550 per week, which has declined 3.6% over the past year.
The rental yield sits at 6.4%.
A Loch St house on a 2034 sqm block has been waiting over three years for a buyer.
It is being marketed by its owner and is listed for $580,000. It cost $400,000 in 2007.
<a href="https://www.propertyobserver.com.au/%20https:/www.realestate.com.au/property-house-wa-derby-119463483%20https:/www.realestate.com.au/property-house-wa-derby-119463483" target="_blank">Positioned at 23 Loch Street</a> (pictured above), the colonial style home features five bedrooms, balcony/patio/terrace, undercover pavilion style carport, and two secure storage sheds. 
Last traded for $400,000 in 2007, the home comes with galvanised steel fence at front and dual access from either side of block from front.
A brand new offering in Derby (below) is set to half in price from its last trade just five years ago.
The four bedroom house, which traded for $950,000 in 2013, is now up for sale at $487,000.
It is offered by Peter Burns from Hutchinson Real Estate. 
<a href="https://www.realestate.com.au/property-house-wa-derby-128628262" target="_blank">Located at 17 Derby Highway,</a> the house comprises of four bedrooms, two bathrooms, lounge area, and kitchen with timber and exposed brick finishes.
Other features include split system air-conditioning and views of the surrounding 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/2018/6/19/17%20derby%20highway.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Derby ranks as the second slowest selling town in Australia

<html><body>
Purchasing inquiry levels are up on the Gold Coast residential market following a slowdown during the Commonwealth Games.
Most agents have reported that buyer enquiry across the central areas of the Gold Coast has now improved to a steady level, according to the June report from valuation firm Herron Todd White.
Despite the volume of sales activity dropping over the past twelve months in most areas, it has been reported that some suburbs are still performing quite well, particularly within the Varsity Lakes and Mermaid Waters areas.
The report attributes, the positive levels of buyer enquiry in these suburbs to a shortage of good quality stock in central areas and asking prices being more affordable in comparison to neighboring suburbs.
Agents who specialise in the Surfers Paradise and Broadbeach areas have noted that they are still receiving steady levels of enquiry for listed stock, particularly up to $500,000.
"A good slice of their enquiries are buyers from south of the border (New South Wales and Victoria) which demonstrates that interstate investors still see good value for money opportunities in this market segment", the report noted. 
"However, it is becoming more apparent that agents are finding it tougher to get a quick sale for unit stock priced between $500,000 and $1.5 million."
There are many new medium to high rise developments under construction between Mermaid Beach and Surfers Paradise currently.
This may create a huge oversupply in the near future.
The report notes that, there has been mixed feedback in relation to how the waterfront home market has performed in the past month.
Broadbeach Waters, which has been one of the more sought after suburbs in recent years, still appears to be one of the better performing locations.
Entry level waterfront property (priced between $800,000 and $1.1 million) is still moving rather quickly.
"Selling waterfront properties priced above $1.5 million is becoming far more challenging for some agents", stated the valuers at HTW
"More recently we have noticed a significant decrease in sales volumes and market activity, particularly in Clear Island Waters and Benowa in this segment of the market."
The valuers forecast the second half of 2018 will remain stable, with sales volumes not expected to increase any time soon, steady levels of demand and a lack of listed stock will likely continue in most central suburbs.
</body></html>

Strongest buying up to $500,000 on the Gold Coast residential market following Commonwealth Games slowdown

<html><body>
The Whitsundays residential markets and businesses are still recovering in the wake of cyclone Debbie, according to the valuation firm, Herron Todd White.
There are still noticeable signs of recovery with Daydream and Hayman Islands closed to the public and boats filled with tradesmen travelling to Hamilton Island daily.
On a smaller scale, there are still a number of houses and units that are in need of repair.
The report states that, "In regard to tourism, the Whitsundays market has been experiencing a growth in domestic and international tourist visitors compared to the past few years."
"It is worth noting however that although visitor numbers have increased, tourists are staying for a shorter period and are spending less in the region, but this is as expected with some of the major attractions and smaller businesses still recovering."
This recovery is well reflected by the Mackay region unemployment rate, postulates the report.
In 2012 the unemployment rate was 3.2%; it rose to 8.4% in 2015 and is currently sitting at around 4.4%.
The report noted that, "We have started to see positive growth in the residential market of Airlie Beach and surrounding suburbs."
"There has been a significant increase in sales volumes from the third quarter of 2017 with a mild increase in the median sale price."
The rental market has increased at an unsustainable rate with gross yields at 5.6% and an average rental of $480 per week.
The region is looking forward to the completion of a number of larger projects including the reopening of Daydream Island.
"With the completion of these works, anticipate a significant number of workers leaving the region and this will most likely lead to an increase in the vacancy rate, as well as a decline in the median rent back to sustainable levels", the report suggested. 
The report predicts that, as the construction work declines, tourism will continue to increase with a renewed appeal to the region.
</body></html>

Whitsundays residential markets and businesses still recovering in the wake of cyclone Debbie: HTW 

<html><body>
The turbulent Gladstone residential market has been tracking upwards, according to the June report from valuation firm Herron Todd White.
At the beginning of 2018, many positive statements were made about what was happening in the Gladstone market; statements such as increased sales volumes; declining vacancy rates; reduced days on the market; multiple offers being made; and an increasing trend in new dwelling construction.
"Now at the midpoint of the year, there is some solid evidence that these statements were not just speculation with some recent transactions have shown the slight increase in capital values that the market is showing", the report suggests.
A 3-bedroom, 2-bathroom townhouse in Telina sold in April 2017 for $176,000. It resold in March 2018 for $185,000 representing an approximate 5% increase in value.
1990s 3-bedroom, 1-bathroom brick dwelling in Telina sold in January 2017 for $226,500. It resold in May 2018 for $259,000 representing an approximate 14% increase.
"Not to suggest the entire market has magically risen 5% to 15% over the past six months however be aware that times are changing and market sentiment is definitely trending upwards", the report noted.
"There has been a minor shift in values with many price points now pushing the boundaries of the value levels of six to 12 months ago."
Other indicators include the vacancy rate which currently sits at 3.7%, which has been slowly trending downward from 4.7% in January 2018.
The latest quarterly data shows that the median rent for a 4-bedroom house ($260 per week) has increased by 8% from the same period 12 months ago.
"2-bedroom units have also tracked upward by $10 to a median of $150 per week over the same time period."
"After an upward trend in new construction activity throughout the first half of 2018, new construction now appears to be slowing, but positively so as there is a general lack of land available in Gladstone but seemingly good demand", this report suggests.
The HTW valuers forecast that the value of land will trend upwards and some larger developers will start to release lots in estates that have typically been in a holding pattern over the past several years.
There has been a sharp decline in the number of mortgagee in possession transactions and it is the expectation that the market will continue to improve throughout 2018 on the back of continued affordability in the region.
</body></html>

Gladstone residential market has been tracking upwards: HTW 

<html><body>
The Cairns residential property market holds steady but is subject to sudden change, according to the June report from the valuation firm Herron Todd White.
2018, according to Herron Todd White, has been a "stodgy" time for the Cairns residential property market.
Residential property demand remains constant, but prices have remained flat and the market has remained stuck in a steady state position, and the latest trended median price readings in Cairns for sales during April 2018 stood at $405,000 for houses and $209,000 for units, the valuation firm noted.
"Although these represent price changes during the past twelve months of -2.4% for houses and -5.5% for units."
An assessment by HTW valuers found that "individual property value movements over the past 12 months have been varied by no more than plus or minus 5%."
The upshot is that even though solid fundamentals are in place with low rental vacancy rates, no obvious oversupply in any market sector and continued economic improvement, the Cairns property market is still being hampered by a lack of confidence and a constrained fiscal environment.
"We have been expecting demand for most residential property to revitalise during 2018 as a result of ongoing economic improvement", the report suggested.
The report forecasts a slow but steady increase in sales volume which will flow through to modestly rising prices although so far it hasn’t happened.
What’s more they boldly predict, is that if it doesn’t happen in 2018, it never will.
</body></html>

Flat prices remain in Cairns residential property market

<html><body>
Mackay's residential market is undergoing an infrastructure revolution and it’s full steam ahead in 2018, according to the June report from Herron Todd White.
Economically speaking, Mackay is probably in its best shape in almost five years, with falling unemployment, a buoyant resource sector, increased infrastructure projects and generally improved sentiment, the valuation firm advise.
Projects underway include the $500 million (approximately) Mackay Ring Road project which is in full swing, the sports precinct out by Central Queensland University, Vines Creek Bridge and the Eton Range Bypass as well as many more.
The Mackay Regional Council has also announced a number of infrastructure projects such as flood mitigation and drainage work in East Mackay.
The report states that, "this has then had a flow on effect to the residential market and vacancy rates have virtually halved in past 12 months, leading to increased rental values (only slightly so far).
"There has been increased buyer demand for owner-occupied dwellings, with reducing days on market and good activity across almost all sectors."
While activity has increased and general sentiment has improved, keep in mind there have yet to be any real increases in value as of yet.
The valuers noted there are still a number of hurdles in the Mackay market, with harsher lending policies still in effect for the 4740 postcode and the large equity reduction seen in the market over the past six years.
All in all though, the past six months has definitely been a big improvement for not only the Mackay residential market but the whole Mackay region and the report forecasts, "a continuation of this for the rest of the year."
</body></html>

Mackay's residential market undergoing an infrastructure revolution

<html><body>
Toowoomba's residential property market is stable but lacking consistency.
The Toowoomba residential property market has continued to remain steady throughout the first half of 2018 following a general decline since the peak of activity at the end of 2013, and although sales activity has been steady across the board, the market has continued to be multispeed and property specific, according to the June report form valuation firm Herron Todd White.
There has been little consistency with variations in sale prices and buyer interest across the established suburbs.
The report suggests that, the prestige market however, has been performing strongly, particularly in the eastern suburbs as has the upper end of the rural residential lifestyle market.
The median sale price has displayed some growth over the past 3 years, currently sitting at approximately $390,000 up from $375,000 in June 2015, the report noted.
"As of April 2018, there were approximately 1,740 houses and units listed for sale in postcode 4350 and with this is being near a 6 year high, it does not bode well for price growth in the short term." stated the HTW valuers
"The unit market has followed a similar trend to the housing market, with low sales volumes following the oversupply of unit product that became apparent throughout 2016."
Land sales volumes steadily increased in the 3 years between 2012 and 2015; peaking at 1,063 sales in 2015, while in 2016, 681 sales were recorded and then 677 in 2017.
"In contrast, vacancy rates across Toowoomba are approximately 2.3% as at April 2018, which is considered tight and below the balanced market level of 3%", noted the valuers at HTW.
"The Toowoomba Second Range Crossing project under construction appears to have assisted in maintaining low vacancy rates, with many workers residing in the region."
The valuing firm forecasts that the low vacancy rate and substantial infrastructure projects in the pipeline may reignite interest in Toowoomba residential property from investors although the steady market conditions currently being experienced in the residential property market are expected to continue throughout the remainder of 2018.
</body></html>

Toowoomba's residential property market stable but lacking consistency: HTW 

<html><body>
Townsville's residential market has confidence with a positive market sentiment.
The inner city 4810 postcodes remain buoyant with inner-city projects including the Townsville Stadium and proposed waterfront precinct being positive factors.
The present market is highly suburb selective, with reasonable turnover levels in the sought after mid to inner suburbs.
But there are patchy sales in other areas and suburbs with perceived social issues, according to the June report from valuation firm Herron Todd White.
During 2018, the trending rental vacancy rate has remained in a balanced market range with the overall trend vacancy rate at just over 3%.
The report noted that, this is significantly lower than the prevailing trend in vacancy rate for the similar period of 2017 at 5.52%.
The unit market is currently steady, albeit at low volumes, with some resistance still being experienced due to the holding costs associated with unit ownership including body corporate fees and high insurance costs.
The valuers at HTW forecast that the remainder of 2018 will remain similar to what has been seen to date so far, with any changes to demand or sentiment heavily reliant on factors such as unemployment, job security and population growth.
</body></html>

Patchy sometimes, but Townsville's residential market has a positive market sentiment: HTW 

<html><body>
The Sunshine Coast residential property market is still performing well, according to the June report from valuation firm Herron Todd White.
The first six months of 2018 saw a slight fall in the volume of sales compared to this time last year but the main reason was the limited stock availablity.
Although general buyer activity has been good, some agents over recent weeks have begun to notice that enquiry levels have slowed with some urgency disappearing from the market
"Whether this is just a seasonal impact or some early signs of a slowing market, it's still too early to tell," the valuation firm advise.
Properties and areas that have good market appeal are still performing well with the various residential property types, existing dwellings and vacant land still outperforming the residential unit market.
The lower end of both are in demand, particularly the sub $600,000 market, the valuers noted.
Property along the coastal strip from Caloundra to Noosa Heads are as always, in demand, and well positioned good quality rural residential properties in hinterland localities have been generating good interest.
The report discusses how, "the market for property on the Sunshine Coast is still being heavily influenced by the interstate migration from the southern states as well as Brisbane buyers relocating north."
The southern end of the coast has two large small lot affordable housing estates which comprise predominantly sub $600,000 single unit dwellings.
Land continues to sell prior to titles being issued in most cases, however HTW valuers have also begun to see a decline in investor activity with the tightening of credit and investor loans by the banks really taking effect.
Further north, land is still selling well at Bli Bli and Peregian Springs although the supply of vacant land in new estates generally decreases north of the Maroochy River with limited sites available.
The improvement in the prestige and higher end properties has historically been driven by a high percentage of interstate investors from Sydney and Melbourne.
"This is especially the case in the Noosa region," it noted.
The relative affordability when comparing Sydney and Melbourne prices to those of the Sunshine Coast demonstrates pretty good value, suggests the report.
It also appears that the Sunshine Coast is pretty high on the "place to be" lists of baby boomers who have started to retire.
The next large infrastructure projects likely to give the coast another boost are the continued development within the much anticipated Maroochydore CBD as well as the Sunshine Coast Airport expansion.
The reported advised the next big game changer was the Sunshine Coast International Broadband Submarine Cable project which is still to be announced.
The report suggests, this project has the potential to make the coast into a major tech hub.
HTW valuers forecast that the Sunshine Coast residential property market will simmer along in much the same fashion as the first half of 2018 with values being good.
Net migration from the southern states is expected to continue as now it appears that the southern markets are cooling and people are selling up and moving north for lifestyle reasons.
The report also predicts that the market may be in the early stages of transitioning after several years of strong growth across all residential property markets.
</body></html>

Interstate migration boosting Sunshine Coast residential property markets

<html><body>
The weakening Rockhampton residential market may yet have hope as construction picks up.
The Rockhampton market has been weakening for some time now with relatively sales numbers steady over the past few years, according to the June report from valuation firm Herron Todd White.
January to March was overall quite positive, providing a good start to the year and while the months since have not been as buoyant, there are still signs within the area that market improvement is just around the corner.
The report noted that, overall the housing sector has continued to plod along with no real stand out areas although the prestige market has seen more activity in recent times.
The prestige market has seen more activity in recent times with a number of sales over $1 million and a few close to that.
There is still good buying within most price brackets, with the best buying being in the sub $300,000 established homes.
"Newer homes have tended to hold their prices better over the past few years but are still offering buyers good value for money", suggests the report.
"The construction of new homes has improved slightly, however there is still a way to go, generally due to modern established homes offering better overall value for money at the current time."
A number of unit projects are in progress in various areas throughout the Rockhampton area, one of note, The Gallery, (pictured) which is the latest Riverside high rise apartment complex, is all but completed, with a number of units still available for purchase.
The Skyview complex is also under construction with units still available and The Loft apartments are getting pre-sales together.
New walk-up units are also available on both sides of the river in older more established areas.
The report noted that, older units are generally priced in the lower section of the market and are generally offering good buying.
The second half of the year is looking positive, with a number of projects both small and large either about to start or that have had announcements with funding pending.
Rookwood Weir and the lingering project are the two largest projects that are mooted for the area, stated the valuers.
Should either of these go ahead, they will help drive the Rockhampton and Central Queensland economy in the future.
Should further action towards these projects take place within the next few months, it is expected the property market will react positively.
Other projects taking place in Rockhampton include the construction of the Rockhampton Hospital Carpark and the soon to start duplication of the Capricorn Highway to Gracemere and the Bruce Highway Northern Access upgrade.
The valuers at HTW forecast that, the Rockhampton market will through these projects and other factors see future market improvement.
</body></html>

Residential Market Trends

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Residential Market Trends

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News