<p data-end="256" data-start="0"><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.</p>

<p data-end="446" data-start="258">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.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">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>.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.”</p>

<p data-end="626" data-start="350">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.</p>

<p data-end="928" data-start="628">“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.”</p>

<p data-end="1147" data-start="930">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”.</p>

<p data-end="1510" data-start="1149">“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.”</p>

<p data-end="1510" data-start="1149"><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" /></p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>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.</p>

<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">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">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.</p>
</section>


Joel Robinson

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

<p style="text-align:start">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;</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>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.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>“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;</p>

<p>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.</p>

<p>“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.</p>

<p>“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.”</p>


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

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“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.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>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.</p>

<p>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.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>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.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

Residential Market

<html><body><div class="page" title="Page 46">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>The city of Gladstone in Queensland was approaching the bottom of market cycle for houses for both April and May but it was one notch better for units, being at the declining market stage, according to valuation firm Herron Todd White's latest property clock.</p>
<p>The property clock is a simple broad brush means of suggesting where property prices are and what direction they are headed. </p>
<p>Calliope is considered a fringe residential suburb in the current market, being located on the Bruce Highway, approximately 20 minutes from Gladstone. During the boom, Calliope expanded rapidly to help ease the accommodation demands on Gladstone. Unfortunately, as with Gladstone, development continued well past the peak of the market and supply in Calliope now heavily outweighs demand. Vacancy rates are high and this has forced rental and capital values down.</p>
<p>Most of the oversupply is of modern housing in new estates and there are also significant vacant land stocks available. New infrastructure is planned for the location with the local shopping centre undergoing an expansion to double the size of the IGA and provide more specialty stores. A new tavern is also planned. While this infrastructure will be good for the township, it is unlikely to curb the downward trend of values in the area. </p>
<p>The median price of houses in Calliope was $377,000, according to CoreLogic RP Data. Property Observer looked up a few recent sales in the area on www.realestate.com.au:</p>
<p>1. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-calliope-121201866" target="_blank">4 Elliot Drive Calliope Qld 4680</a> sold for $369,000.</p>
<p><img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%208.58.00%20AM.png" alt=""></p>
<p> </p>
<p>2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-calliope-121839802" target="_blank">14 Trudy Avenue, Calliope, Qld 4680</a> sold for $335,000.</p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"> </span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"><img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%208.59.01%20AM.png" alt=""></span></p>
</div>
</div>
</div>
</div></body></html>

prateek24-ezbwHMbNAk

Oversupply hurting property values in fringes of Queensland's Gladstone: HTW

<html><body><div class="page" title="Page 47">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>Queensland's Rockhampton has stayed at the approaching the bottom of market cycle for several months now, according to Herron Todd White's property clock -- a simple broad brush means of suggesting where property prices are and the direction they're headed in.</p>
<p>Its April report discusses fringe suburbs. </p>
<p>Fringe suburbs within the Rockhampton region would include Gracemere to the south, Parkhurst to the north and Lakes Creek to the east. These areas are typically much more affordable largely due to the cheaper parcels of land on offer. For example a spacious brand new four-bedroom, two-bathroom brick home in Gracemere can be anywhere from $100,000 to $150,000 cheaper then Norman Gardens yet can potentially provide the same level of accommodation and comfort, with location and distance to the CBD being the key factor in value.</p>
<p>Rental values are also significantly cheaper in these fringe locations, in some cases up to 40 percent cheaper for similar quality homes. Future prospects see the north and eastern sides of Rockhampton as potential areas for investment, however, Gracemere appears to have an oversupply issue which makes current prices appear good buying, however it must be said that a recovery in this particular market appears to be some time in the making. </p>
<p>Property Observer looked up a few recent sales in some of the fringe suburbs of Rockhampton.</p>
<p>The median house price in Gracemere was $329,000, according to CoreLogic RP Data. There was no recent data for units. </p>
<p>A four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-gracemere-120863057" target="_blank">3 Koolamarra Drive Gracemere Qld 4702</a> sold for $325,000.</p>
<p><img src="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%202.30.48%20PM.png" alt=""></p>
<p>In Parkhurst, the median house price was $355,000, according to CoreLogic RP Data. No data was available for units.</p>
<p>A four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-parkhurst-119948709" target="_blank">38 Bean Avenue Parkhurst Qld 4702</a> exchanged hands at the median price.</p>
<p> <img src="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%202.31.54%20PM.png" alt=""></p>
<p><span> </span></p>
</div>
</div>
</div>
</div></body></html>

Queensland's Rockhampton fringes are affordable, but market recovery may take long: HTW

<html><body>
<p>Dwelling values across the combined capital cities of Australia rose by 1.6 percent in May, according to CoreLogic RP Data.</p>
<p>According to the CoreLogic Hedonic Home Value Index Results, released today, the strong May numbers were largely the result of a surge in Sydney dwelling values which were up 3.1 percent over the month and 6.6 percent over the quarter.</p>
<p>CoreLogic state arise of more than 1 percent month-on-month was also recorded in Melbourne (1.6 percent), Canberra (2.5 percent) and Hobart (2.2 percent).</p>
<p>Perth was the only city to record a fall in dwelling values over the month, down 2.7 percent.</p>
<p>The annual rate of growth has moved substantially higher to reach 13.1 percent per annum after reaching a recent low point of 7.4 percent per annum growth over the 12 months ending March 2016.</p>
<p>Despite Sydney’s bounce in the trend rate of growth, Melbourne’s housing market is still recording the highest annual rate of capital gain at 13.9 percent. </p>
<p><a href="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.29.16%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.29.16%20AM.png" alt=""></p>
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>CoreLogic head of research Tim Lawless said t</span><span>he </span><span>high rate of auction clearance has demonstrated a remarkable bounce back after tracking below 60 percent during December with </span><span>Sydney’s </span><span>auction market recording a clearance rate as low as 52.9 percent in December.</span><span><br></span></p>
<p><a href="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.38.34%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.38.34%20AM.png" alt=""></span></p>
<p> “The extent to which investors are fuelling the latest surge in Sydney home values is difficult to quantify, however housing finance data to March shows investors, as a proportion of all new mortgage commitments, have been trending higher since reaching a recent trough in November last year at 42.9 percent. The March data shows investors now comprise of 47.6 percent of all new mortgage commitments which is the highest proportional reading since August last year," he said.</p>
<p><a href="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.39.42%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.39.42%20AM.png" alt=""></p>
<p><span>“Anecdotal </span><span>evidence suggests investor numbers may have increased further from this time, with some lenders reversing the tighter lending requirements that were previously in place for investment purposes as growth in investor related credit tracks well under the APRA speed limit of 10 percent per </span><span>annum.</span></p>
</div>
</div>
<div class="layoutArea">
<div class="column">
<p><span>“Lower </span><span>mortgage rates are likely to have a positive effect on consumer confidence and housing market conditions, with the standard variable mortgage rate now at its lowest level since 1968.</span><span><br></span></p>
<p><span>“While </span><span>the annual pace of growth has clearly reversed direction on the latest few months of data, the trend is still relatively fresh and may be short-lived. </span></p>
<p><span>“Despite </span><span>lower mortgage rates in May, lending conditions are tighter now than they were a year ago. Recent data from APRA highlights that interest only lending is now at its lowest level since March 2013 and new mortgages with an LVR (loan to value ratio) higher than 90 percent are at the lowest reading since March 2011. </span></p>
<p><span>“With </span><span>the federal election only a month away, we can expect housing to remain in the spotlight more than </span><span>usual</span><span>."</span></p>
<p><a href="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.42.10%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/06/01/Screen%20Shot%202016-06-01%20at%2010.42.10%20AM.png" alt=""></span></p>
</div>
</div>
</div>
</div>
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney's surprise 6.6 percent quarterly surge: CoreLogic RP Data Hedonic Home Value Index

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span>Houses, units and land across regional Western Australia had positive growth for the three months to March 2016 and outshone the Perth metropolitan area, according to the Real Estate Institute of Western Australia.</span> </p>
<p><span>Areas south of Perth, according to REIWA president Hayden Groves, were showing signs of strength. Some parts of regional WA, however, still suffer from the slowdown in the mining sector.</span></p>
<p>"Units experienced the biggest quarterly growth in median price, lifting six percent," he said.</p>
<p>"This can mostly be attributed to the Mandurah-Murray region which saw its median unit price improve significantly to $390,000 over the quarter, from $320,000 in the December quarter 2015.</p>
<p><span>“It’s really pleasing to see that regional WA’s overall median price lifted 1.3 per cent over the quarter, and </span><span>looking at houses, units and land individually, there was notable growth in all three areas.</span></p>
<p><span>“Bunbury in the state’s South West </span><span>saw the biggest increase to its quarterly median house price in the March quarter, lifting 5.6 percent to $395,000. Bunbury also saw an improvement in house sales activity over the quarter, with volumes increasing six percent in the first three months of this year."</span></p>
<p><a href="/images/2016/05/31/Screen%20Shot%202016-05-31%20at%2011.06.03%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/05/31/Screen%20Shot%202016-05-31%20at%2011.06.03%20AM.png" alt=""></span></p>
<p> </p>
<p>  Other regional areas to experience positive median house price movement according to REIWA were:</p>
<ul>
<li>  Northam - $245,000 (4.3 percent)</li>
<li>  Albany Urban Area - $386,000 ( 2.7 percent)</li>
<li>  Kalgoorlie-Boulder - $340,000 (2.6 percent)</li>
</ul>
<p> Mandurah-Murray region - $396,000 ( 1.9 percent) </p>
</div>
</div>
</div></body></html>

Regional WA outperforms Perth in price growth: REIWA

<html><body>
<div id="post-body-3534858795590951741" class="post-body entry-content">
<div>The Detailed Labour Force figures reported that Greater Sydney's unemployment rate fell to just 4.8 percent in April. </div>
<div> </div>
<div>When tracked in rolling annual terms to smooth out the monthly volatility, Sydney's unemployment rate has been cascading lower for 26 beautiful months now.</div>
<div> </div>
<div>The unemployment rate in Melbourne has also been trending lower for 17 months, although the unemployment rate in Brisbane has stopped falling for the time being after an impressive run. </div>
<div> </div>
<div>Across most of the capital cities ex-Sydney unemployment rates seem to be converging to around a 6 per cent level, neither great nor amazingly bad.<br><br>Adelaide has been the outlier on this measure.</div>
<br><div class="separator"><a href="/images/2016/05/31/UNEMPLOYMENT.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/05/31/UNEMPLOYMENT.jpg" alt=""></div>
<br><div>Over the past two years New South Wales and Victoria (read: Melbourne) have created more than 85 per cent of net new employment (+333,000 jobs), although Brisbane has had a more than decent past 12 months (+34,900 jobs). </div>
<br><div class="separator"><a href="/images/2016/05/31/DLF1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/05/31/DLF1.jpg" alt=""></div>
<strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Residex April update</span></strong><br><div>
<br>CoreLogic is reporting that Sydney's median home value has increased by 6.9 percent over the last quarter, the figure perhaps skewed higher by the running of some new parameters.<br><br>
</div>
<div>In its monthly market update Residex reported that Sydney's median house price increased by 0.4 percent month of April to $1,046,000.  </div>
<div>
<br>This is 10.6 per cent higher than one year ago, although the median looks to be struggling a bit to break new highs now.</div>
<br><div>Despite various gloomy predictions and talk of oversupply, Sydney unit prices increased by 1.3 per cent in the harbour city over the thee months to April to be 10.5 per cent higher over the year.<br><br>The median Sydney unit price is now at a new record high for unit prices anywhere in Australia of $695,000.<br><br><strong><span style="text-decoration: underline;">Dichotomy</span></strong>
</div>
<div> </div>
<div>How is this occurring despite lower stock turnover and somewhat lower mortgage finance in New South Wales?</div>
<div> </div>
<div>Without generalizing too much, the inner suburbs (where most units are located) are seeing feisty activity, but many of the outer or secondary suburbs are struggling. </div>
<div> </div>
<div>You can witness this trend in auction clearance rates, with the eastern suburbs, lower north shore, city &amp; south, and northern beaches sub-regions continued star performers. </div>
<div> </div>
<div>As you move away from the prized inner suburbs the market begins to look a little sketchier, while some areas are in all likelihood experienced declining prices.</div>
<br><div class="separator"><a href="/images/2016/05/31/Crs.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/05/31/Crs.jpg" alt=""></div>
<br><div>Remember that the reported median price is a midpoint of the frequency distribution, but it doesn't necessarily reflect what is happening across all markets.</div>
<br><div>Elsewhere, Residex reported that over the year to April there have been solid increases in house prices in Melbourne (10.8 per cent) and Brisbane (5.3 per cent). </div>
<div> </div>
<div>Residex noted that value declines in resources regions, although ongoing, appear to be easing.</div>
<div> </div>
</div>
<div class="post-footer"> 
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</body></html>

pwargent-M4siyDbqQY

Sydney apartments surge: Pete Wargent

<html><body><div class="page" title="Page 46">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>Bundaberg city in Queensland had improved its position to approaching the bottom of market cycle -- both for houses and units -- from the bottom in April, according to valuation firm Herron Todd White's property clock for May.</p>
<p>HTW's property clock is a simple broad brush means of suggesting where property prices are and which direction they are headed to. The April report also mentioned fringe locations of cities and towns across Australia. Bundaberg was one of them.</p>
<p>The Bundaberg residential market is in a stable period, with quarterly sales volumes remaining relatively consistent since mid-2013.</p>
<p>The median sale price has similarly remained consistent at $269,000, with no change over the past year.</p>
<p>House listings increased over the past year, indicating that vendor confidence in the market is growing.</p>
<p>Bundaberg’s unit and townhouse market remains static with sales activity easing over last year’s September quarter.</p>
<p>Fringe locations, often known as the tree change locations, have experienced even further softening in the market with extended selling periods required to achieve realistic sales. Affordability and larger allotment sizes are the drivers towards these outer areas. These markets historically won’t change in the medium-to-long term until the coastal markets show a more positive outcome. </p>
<p>Property Observer looked up some recent sales in the greater Bundaberg area around the median sale price of $269,000 on www.realestate.com.au.</p>
<p>1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-walkervale-121766622" target="_blank">99 Lamb Street Walkervale Qld 4670</a> traded for $265,000.</p>
<p><img src="/images/2016/05/31/image3.jpg" alt="" width="645" height="484"> </p>
<p>2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-kalkie-121594994" target="_blank">4 Swan Drive Kalkie Qld 4670</a> changed hands for $255,000.</p>
<p> </p>
<p> <img src="/images/2016/05/31/main.jpg" alt="" width="687" height="515"></p>
<p> </p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"> </span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"> </span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"> </span></p>
</div>
</div>
</div>
</div></body></html>

Fringes of Queensland's Bundaberg showing softness in property market: HTW

<html><body>
<p>The median private treaty price for a home in Sydney is around $855,000 according to CoreLogic RP Data and units at $675,000.</p>
<p>The price is based on 2,899 home sales and 1,616 units.</p>
<p>The median price in Melbourne for homes is $612,000 from 3,604 sales and $492,250 for units from1,568 sales.</p>
<p><a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" alt=""></p>
</body></html>

po-LsXgBTHBmX

Median private treaty price for Sydney home is $855,000:  CoreLogic RP Data

<html><body>
<p>House values in Sydney and Adelaide fell 0.1 percent from last week according to CoreLogic RP Data.</p>
<p>Melbourne are up 0.1 percent, Brisbane homes increased 0.2 percent.</p>
<p>House prices in Perth fell 0.5 percent</p>
<p><a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%204.30.20%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%204.30.20%20PM.png" alt=""></p>
</body></html>

House values in Sydney, Adelaide fall 0.1 percent from last week : CoreLogic RP Data

<html><body>
<p>Fashion industry veteran Peter Weiss has been the latest buyer on Palm Beach’s luxury market offering.</p>
<p><a href="https://www.879barrenjoeyroad.com/" target="_blank">The Pittwater weekender</a> of rag trader Gordon Smith and his wife, Julianne has been snapped up in quick time by Peter and his wife, Doris. They have always wanted a sandy west facing weekender on the peninsula.</p>
<p>No wonder as the glamorous retreat was designed by architect Walter Barda and built by Shane Kavanagh. The timber and stone build within the lush waterfront garden and swimming pool was commissioned by the Smiths in 2010, long after they bought the 1137 sqm double block in 1999 for $1,625,000 from Judith Larcombe, when the property’s main feature was its big old boat house. </p>
<p>Peter Robinson, of LJ Hooker Palm Beach, was asking $12 million, but another local agent nailed the deal at a slightly lower, but still double digit price.</p>
<p>One is left to wonder what Peter and Doris will do with their hillside architectural gem, the pavilion style Peter Muller designed home that they bought in 2010 for $3.5 million.</p>
<p>Earlier this year Weiss sold his Southern Highlands retreat Wollombi to the Cottle construction family for $12 million.</p>
<p>It was a 600 hectare estate with an exquisite farmhouse at the end of a 2.5 kilometre driveway and can produce up to 6000 bottles of pinot gris and 3000 bottles of pinot noir in a good season.</p>
<p><em>This article was first published in the Saturday Daily Telegraph. </em></p>
</body></html>

firstname1-iYD4UYzvBa

Peter Weiss buys Pittwater, Palm Beach weekender

<html><body>
<p>Is this quote by Johnny Isakson the perfect property quote – “In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.”</p>
<p>Let’s focus on the part of governments in property – more particularly as it relates to Sydney and its many niche property markets. Local governments are being amalgamated so that the NSW government can put on its developer cap and start approving thousands upon thousands of new developments. They identify overseas buyers as the driving force so they then introduce higher duties to get a greater tax grab. The federal government (since December 2008) allows one hundred per cent of all new developments to be sold offshore driving overseas investor demand to levels never seen before – the perfect property storm has been created but who will clean it up?</p>
<p>Firstly, we need to pinpoint when this newly created apartment – a – thon peaked which would be around mid – 2013. Barangaroo was the star attraction with 750 new harbour side apartments that sold in a matter of hours smashing per square metre records. These per square metre rates were then factored into every other new development and the investors came in fast, which in turn led developers to pay record prices for property sites thus creating an insatiable property appetite for investors and property developers.</p>
<p>Then 18 months later the Australian Prudential Regulation Authority (APRA) on December 9, 2014 tightens lending regulations resulting in higher deposits from investors buying off – the – plan. Although not much was said at the time the investor cracks were starting to appear despite developers and real estate agents buying record amounts of polyfilla. Next in July 2015, APRA announced that the big four banks and Macquarie Bank must hold more capital to provide a buffer against defaults by investors.</p>
<p>In May 2015, then federal treasurer Joe Hockey announced that the Australian Taxation Office (ATO) was being handed full control over all property acquisitions in Australia. This then led to the ATO announcing that every property transaction dating back to 1985 would be recorded and placed on their property register. Foreign investor participation in Australia’s property markets had spiked to $34.7 billion in 2013/14 up from $17.6 billion the previous year, so suspicions were on the rise. I might add that some market commentators (like myself) had been raising concerns well before this.</p>
<p>Who could forget the piece I filed back on 5 March 2015 – Treasurer Joe’s Villa del Nightmare when the ATO announced the first divestiture notice for a $39 million Point Piper mansion that was bought by a foreign buyer without Australian residency. The subject property was then flipped to a friend who just so happened to have an Australian residency and the case was closed – or so we were led to believe.</p>
<p>Last week (a premature announcement broke) –<a href="https://www.ato.gov.au/Forms/Foreign-resident-capital-gains-withholding-clearance-certificate-application-instructions/"> Foreign resident capital gains withholding clearance certificate applications</a> would be required for every property in Australia selling above $2 million from 1 July 2016. I was reliably informed that the grand plan is that clearance certificates will apply for every Australian property down the track. Here is the official<a href="https://www.ato.gov.au/uploadedFiles/Content/LB_I/downloads/FRCGW%20-%20clearance%20certificate%20application.pdf"> ATO clearance certificate</a>application from the ATO website.</p>
<p>So does this then take our attention (well mine anyway) to the fact that quite possibly in the very near future the ATO, who have been very quiet of late on all matters pertaining to divestiture notices, may soon have some big announcements? Assuming all those who purchased illegally will not be able to receive a clearance certificate – so the ATO pockets 10 per cent of the selling price from every sale?</p>
<p>The big problem here is that most in the industry knows that the Asian buyers have dropped off significantly, as too the Asian developers. Sydney has approximately 30,000 new apartments nearing completion and how many of those properties will have defaulting buyers? We know what the first market sale price was and nobody can intelligently predict what the second sale price may be. Guesstimates range from a 10 to 50 per cent correction depending on the volume of property coming on to the market, and rest assured you can no longer apply the Barangaroo square metre rate set back in mid – 2013.</p>
<p>If these defaults do happen and the second sales prices are well below the initial selling price this will then throw all the thousands and thousands of off – the – plan sales into complete chaos. Then all the future developments are shelved given these once strong markets have disappeared. Councils have been merged so what then happens to that grand plan of high density future developments?</p>
<p>Sydney for a few years now has been showing clear signs of investor growing pains. Although this time around the vast majority of these new developments are still a way off completion. If we go by past markets the banks are about to become reluctant property owners – so what’s the plan?</p>
<p>Sadly, there is no plan – just cross your fingers and hope that level heads prevail. Quite fascinating that with all these massive high – density developments that in this day and age we still don’t have a governing body regulating Australian property markets.</p>
<p>I get that feeling that we will need more than an umbrella.</p>
<h5>MOSMAN – 2088</h5>
<p>Number of houses on the market this time last year – 68</p>
<p>Number of houses on the market last week – 55</p>
<p>Number of houses on the market this week – 51</p>
<p>Number of apartments on the market this time last year – 46</p>
<p>Number of apartments on the market last week – 50</p>
<p>Number of apartments on the market this week – 42</p>
<h5>CREMORNE – 2090</h5>
<p>Number of houses on the market this time last year – 8</p>
<p>Number of houses on the market last week – 11</p>
<p>Number of houses on the market this week – 10</p>
<p>Number of apartments on the market this time last year – 13</p>
<p>Number of apartments on the market last week – 22</p>
<p>Number of apartments on the market this week – 18</p>
<h5>NEUTRAL BAY – 2089</h5>
<p>Number of houses on the market this time last year – 7</p>
<p>Number of houses on the market last week – 8</p>
<p>Number of houses on the market this week – 8</p>
<p>Number of apartments on the market this time last year – 26</p>
<p>Number of apartments on the market last week – 22</p>
<p>Number of apartments on the market this week – 20</p>
<p><em>ROBERT SIMEON is a director of </em><em><a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> </em><em>and has been selling residential real estate in Sydney since 1985. <br>He has also been writing real estate blog </em><em><a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> </em><em>since 2000.</em></p>
</body></html>

Residential Market

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Residential Market

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News