<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.

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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

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One of the new trends in Australian real estate today is young families leaving cities – particularly Sydney, in favour of seachange and treechange lifestyle locations. 
The boom of 2012-2015 resulted in a significant surge in property prices and our feeling was that more so than ever before, this particular boom would result in many young families considering alternatives to Sydney, especially when it comes time to upgrade to a bigger house.  
New internal migration statistics (excluding overseas migration) released by the Bureau of Statistics and analysed by CoreLogic RP Data last month indicate that this trend is indeed occurring. 
The statistics look at the top 25 regions nationally for internal migration, as calculated by comparing population changes between the 2008-09 financial year and 2014-15. 
Many of the top 25 regions are on the outskirts of cities, which is a typical destination for families in the inner or middle ring who need more space. However, more than half the regions are coastal or lifestyle areas, which suggests an increase in sea and treechanging. In many of these areas, the populations of the 0-14 and 25-64 age brackets are the fastest growing, which points to families driving the trend. 
This is significant because traditionally, it’s been the downsizers or empty-nesters leaving our cities for the hills or the coast in retirement. That’s still happening, but not at the rate of young families. These days, more empty-nesters are trading family homes in the suburbs for lifestyle apartments in or near their CBD. 
There’s a few reasons for this – among them is the impact of the GFC. Seachanging and treechanging was a strong trend before the financial crisis but this has now changed, with many downsizers delaying their retirement to replenish their superannuation nest eggs. Downsizing closer to the city enables them to be closer to work as well as all the recreational amenities they desire.
Family Sea &amp; Treechange Hot Spots 
Here are the 15 seachange and treechange areas that made the top 25 list for internal migration 2008-09 to 2014-15. 
1. Sunshine Coast, QLD – 4,732 migrants predominantly aged 45-64 &amp; 0-14
2. Gold Coast, QLD – 4,610 migrants predominantly aged 0-14 &amp; 45-64
3. Geelong, VIC – 2,828 migrants predominantly aged 45-64 &amp; 0-14 
4. Richmond-Tweed, NSW – 2,198 migrants predominantly aged 25-44 &amp; 0-14 
5. Mornington Peninsula, VIC – 2,141 migrants predominantly aged 45-64 &amp; 25-44 
6. Mid-North Coast, NSW – 2,057 migrants predominantly aged 45-64 &amp; 25-44
7. Central Coast, NSW – 2,009 migrants predominantly aged 45-64 &amp; 0-14 
8. Hunter Valley (exc Newcastle), NSW – 1,814 migrants predominantly aged 25-44 &amp; 45-64
9. Southern Highlands &amp; Shoalhaven, NSW – 1,746 migrants predominantly aged 45-64 &amp; 25-44
10. Bunbury, WA – 1,632 migrants predominantly aged 0-14 &amp; 25-44 
11. Mandurah, WA – 1,554 migrants predominantly aged 45-64 &amp; 25-44
12. Sydney-Outer West &amp; Blue Mountains, NSW – 1,434 migrants predominantly aged 25-44 &amp; 0-14 
13. Illawarra, NSW – 1,262 migrants predominantly aged 25-44 &amp; 0-14
14. Wide Bay, QLD – 1,148 migrants predominantly aged 45-64 &amp; 0-14
15. Latrobe-Gippsland, VIC  – 1,054 migrants predominantly aged 45-64 &amp; 25-44
Source: Australian Bureau of Statistics and CoreLogic RP Data 
Some sea and treechanging families are making a permanent change and cutting ties with Sydney altogether, including finding a new job. Others are moving to lifestyle locations with public transport access back to the city so they can remain in the same job but enjoy a better lifestyle, including buying a far more affordable property to live in. 
Fly-in fly-out work opportunities, as well as more flexible workplaces that allow people to work from home at least part-time, are also enabling families to change their base from cities to lifestyle locations. 
We expect this trend to continue for at least another couple of years. Although the Sydney boom is over (but prices are still growing), many families have hit their limit with housing affordability. Gen Y couples and families in particular are far more nimble than generations past, with the idea of starting a new life in a new, more affordable location a serious option for them.
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jonathanchancellor-7SQnKwU6yx

Top 10 locations in Australia for internal migration

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The regional city of Albury in New South Wales was a rising market for houses while for units, it was at the start of recovery, according to valuation firm Herron Todd White's property clock for both April/May. 
The clock is a simple broad brush means of suggesting where property prices are and the direction they are headed.
Over the past few years there has been an increasing trend for people to purchase land on the outer edge of the two cities in the suburbs of Thurgoona, Glenroy, Killara and Baranduda and construct a new dwelling.
The outer edges of the two cities are generally a maximum of 10 kilometres from their respective CBD’s and are therefore not far to commute.
We are also seeing an increase in demand for vacant rural lifestyle and general residential allotments and in the towns surrounding Albury/Wodonga, such as Tangambalanga, Kiewa, Ebden, Howlong, Jindera and Ettamogah, as once again people are preferring to build a new home rather purchase one that may require renovating.
The twin cities have no real areas to avoid with the exception of some government housing areas, although demand for these areas is reflected in their relative low value overall compared to other parts of the twin cities.
We see an ongoing trend for the outer markets to continue to perform and grow because of opportunities of development with large tracts of englobo residential land.
There has however been a recent increase in prices being achieved for vacant land and as such we see these markets as a long-term proposition. 
Property Observer looked up some recent sales in Albury's fringe locations such as Thurgoona and Baranduda on www.realestate.com.au. 
1. The median price of a house in Thurgoona was $340,000 while for units, it was $215,000, according to CoreLogic RP Data. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-thurgoona-120707105" target="_blank">4 Charolais Court Thurgoona NSW 2640</a> fetched $330,500.
<img src="/images/2016/05/25/700_main1.jpg" alt="">
 
2. The median house price in Baranduda was $335,000, according to CoreLogic RP Data. No data was available for units. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-baranduda-122000690" target="_blank">10 Paterson Avenue Baranduda Vic 3691</a> traded for $300,000.
<img src="/images/2016/05/25/main-1.jpg" alt="" width="672" height="504">
 
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prateek24-ezbwHMbNAk

Albury's fringes show long-term potential: HTW

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Victoria's Mildura has remained at the start of the recovery period on valuation firm Herron Todd White's property clock for several months now.
The property clock is a simple broad brush means of indicating where property prices are and the direction they are headed. The April clock dealt with fringe suburbs across Australia and one of them was the regional Victorian city of Mildura.
Mildura is the centre of a large irrigated horticultural district and within 30 kilometres there are a number of smaller towns and communities which either pre-date Mildura or were developed to support the surrounding farming communities.
These small communities include Nichols Point, Irymple, Red Cliffs, Cardross, Koorlong, Merbein and the NSW towns of Buronga, Gol Gol, Dareton and Wentworth. All of these communities have primary schools and the larger towns have the usual shopping and recreational facilities.
Those communities within 10 kilometres of the centre of Mildura generally have real estate values which closely track those of Mildura, while the more remote towns are more affordable and generally have less capital growth. Examples of towns more than 10 kilometres from Mildura include Wentworth, Merbein and Red Cliffs. Purchasing a home in these towns is an option for buyers not able to afford a similar standard dwelling in Mildura, particularly those seeking larger lot sizes.
Typical values for a three-bedroom, one-bathroom older residence in Merbein are in the range of $120,000 to $160,000 and show rental levels of $200 to $250 per week giving a gross yield of around 8%. Yields are similar in Wentworth but a little lower in Red Cliffs.
Red Cliffs has enjoyed relatively strong population growth in the past 10 years, with several new subdivisions completed to capitalise on demand from people happy to live in a small town and often employed by businesses in the Iraak and Nangiloc irrigation districts further to the south. The recent decision by Treasury Estate Wines to close its bottling facility at Iraak has affected approximately 100 employees, many of whom lived in Red Cliffs. Demand for rental accommodation in Red Cliffs has consequently declined.
Our advice to investors is that buying a home in the fringe towns will often result in a higher yield, however, history has shown that capital gain has been low compared to Mildura or the towns closer in. 
Property Observer looked up some recent property sales in the $120,000 to $200,000 range in some of the fringes on www.realestate.com.au and came up with these:
<img src="/images/2016/05/23/700_fringe1.jpg" alt="" width="570" height="346">
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-merbein-121196838" target="_blank">26 Sanders Street Merbein Vic 3505</a> sold for $165,000, according to RP Data.
<img src="/images/2016/05/23/700_fringe2.jpg" alt="" width="590" height="358">
2. A three-bedroom cottage at <a href="https://www.realestate.com.au/property-house-vic-red+cliffs-120817453" target="_blank">40 Goulburn Avenue Red Cliffs Vic 3496</a> fetched $118,000.
 
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Fringes in Victoria's Mildura offer higher yields, but capital gains slower: HTW

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A Glebe property with a fascinatingly disturbing past went to weekend auction without initial success.
However the 1833 Georgian <a href="https://www.realestate.com.au/property-house-nsw-glebe-122459534" target="_blank">Regency villa, Lyndhurst</a> in Glebe which had $7 million plus hopes sold soon afterwards.
It was the home designed by esteemed architect John Verge as a marine villa for the colonial surgeon James Bowman, the husband of the iconic pastoralist John Macarthur's daughter, Mary. 
Lyndhurst colourful history saw it briefly as the headquarters of an Australian neo-Nazi party in the late 1960s.
Regarded as one of the inner Sydney’s most historically significant homes, it last sold at $3.3 million in 2005 to stockbroker Tim Eustace and his partner Salvatore Panui.
Eustace and Panui are bound for Darlinghurst, where they bought another historic inner city landmark, Iona, for $16 million from entertainment industry couple Baz Luhrmann and Catherine Martin.
The top result under the auction hammer of the weekend was in Strathfield, in Sydney's inner west where Dr Vipin Goyal sold his seven-bedroom home for $6.83 million through Devine Real Estate.
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Lyndhurst, Glebe finds $7 million plus buyer

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Just like the Labor Government in Victoria, overseas property investors will have to pay more to buy a home in NSW under Treasurer Gladys Berejiklian’s state budget­ plan.
The Daly Telegraph's state politics reporter Andrew Clennell says Ms Berejiklian is understood to be seriously considering a 1.5 percent foreigner land tax surcharge to "tackle housing affordability­."
It mirrors a 1.5 percent surcharge in Victoria, ­although there is a suggestion Ms Berejiklian could impose a slightly lesser rate of 1 percent.
Victoria also imposes an extra 7 percent on stamp duty for foreign buyers but Ms Berejiklian is understood to have ruled that out.
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NSW state budget plans foreign investors land tax surcharge

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Queensland's Townsville city was at the bottom of the market cycle in both April and May in valuation firm Herron Todd White's property clock -- a simple broad brush means of suggesting where property markets are and what direction they're headed. 
Affordability concerns continue within the Townsville market with buyers only purchasing properties they regard as affordable based on their current economic circumstances. Job security, high unemployment and the absence of any local stimulus or broader economic drivers would indicate little change from this position in the short term. The residential market remains stationary at the bottom of the market cycle.
While not limited to these suburbs, the fringe areas of Condon, Burdell, Deeragun and Mount Low offer affordable entry levels for basic semi-modern homes.
Condon is in the south-western suburbs within five kilometres of Willows Shopping Centre and is easily accessible to major employment hubs of the Townsville Hospital, James Cook University and Lavarack Army Barracks via the Townsville Ring Road. Condon comprises a mixture of housing styles including semi modern on-ground masonry block and high set timber framed dwellings of fair to average condition. Pockets of this suburb have perceived social issues and a reasonable amount of government housing. Price entry into this suburb is from the low $200,000s.
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Burdell, Deeragun and Bushland Beach are located within the expanding northern beaches corridor. Over the past few years there have been major expansions in infrastructure and services along this corridor including fast food, shopping centres, schooling and strip retail centres. Deeragun comprises a mixture of dwelling types from basic to modern on ground homes. This suburb has some perceived social issues and price entry is from the low $200,000s. The areas of Burdell and Mount Low generally comprise more modern homes with price entry from the high $200,000s to low $300,000s.
Overall there remains affordable buying in all sectors of the residential market if you are willing to shop around. The secondary suburbs where there are perceived social issues offer some good buying, with the trade-off between value for money and these perceived issues posing consideration. Outer lying suburbs also offer some good value for money in the bottom of the market position with an oversupply of property available relative to current demand. 
Property Observer looked up some recently sold properties in the $200-$300,000 range on realestate.com.au and came up with these:
<img src="/images/2016/05/20/main-1.jpg" alt="" width="497" height="373">
1. A three-bedroom house with a pool at <a href="https://www.realestate.com.au/property-house-qld-condon-121322790" target="_blank">133 Pinnacle Drive Condon Qld 4815</a> was traded at $255,000.
<img src="/images/2016/05/20/main-2.jpg" alt="" width="665" height="499">
2. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-burdell-122002418" target="_blank">79 Lady Musgrave Circuit Burdell Qld 4818</a> sold for $300,000.
 
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Fringes on Queensland's Townsville offer affordable entry to home buyers: HTW

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The number of auctions due to be held across the capital city markets this week will remain relatively steady, with CoreLogic currently tracking 1,758 auctions, down from 1,876 last week. 
In Australia’s largest auction market of Melbourne, 778 auctions are scheduled this week, following a higher 871 last week, while in the second largest auction market of Sydney, the number of auctions being held this week (669) is higher relative to last week (647).
Last year, 2,599 auctions were held over the comparable week, which is substantially higher than the activity CoreLogic is tracking this week. This is reflective of what has been seen across the auction market so far this year.  Over the 2016 calendar year to date, 29,426 capital city auctions have been held, compared to 32,616 over the same period last year.
Capital City Auctions this week:
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<li>Sydney: 669</li>
<li>Melbourne: 778</li>
<li>Brisbane: 117</li>
<li>Adelaide: 84</li>
<li>Perth: 37</li>
<li>Canberra: 65</li>
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This week, Mosman in Sydney is the busiest individual suburb for auctions, with CoreLogic tracking 16 auctions so far this week. Following Mosman are three Melbourne suburbs, Glen Waverley and Richmond, with 13 auctions scheduled and Thomastown with 12 auctions.
Summary of last week’s results:
<a href="/images/2016/05/20/20160519-capital-city-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/20/20160519-capital-city-table.png" alt="">
Final results show that clearance rates strengthened last week, up from 67.7 per cent the previous week to 69.5 per cent, bringing the combined capital city clearance rate back in line with results seen towards the end of last month. The latest result marks the seventh consecutive week where the capital city clearance rate was under the 70 per cent mark, however this isn’t the case for Melbourne (71.3 per cent) and Sydney (76.2 per cent), where clearance rates were above 70 per cent for the sixth week in a row for Melbourne and the fourth week in a row for Sydney.
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Last week, in each of the smaller capital city markets, clearance rates were up on a week-on-week basis.
Looking at some of the key regional auction markets, clearance rates were strongest in Wollongong (73.9 per cent) and Geelong (80.8 per cent) last week, however the number of auctions held in both regions was lower than over the previous week. In the two Queensland lifestyle markets of the Gold Coast and Sunshine Coast, less than half of all reported auctions cleared last week.
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Weekend auction numbers steady: CoreLogic RP Data's Shana Miller

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The suburb of Berkeley Vale in NSW's Central Coast region - postcode 2261 - generated a median gross yield of 8 percent on units over the last 12 months, and is in the top 10 on CoreLogic RP Data's latest list of suburbs with the highest median gross yield, according to property value.
Berkeley Vale's yield was well above the national average of 4.63 percent, the data showed.
The median unit sale price in the suburb was $222,000, a little more than half the national average of $438,000.
Berkeley Vale showed impressive growth in median prices over a 12-month period at 5.71 percent, well above the 2.1 percent growth nationally.
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From a rental perspective, the median rent was $340 per week and Berkeley Vale was at seventh place in NSW on yields with a gross yield of 8 percent. 
The suburb had a population of around 46,000 people, according to the last ABS census data.
Property Observer looked up a few units in Berkeley Vale around the median range for renting on www.realestate.com.au.
<img src="/images/2016/05/20/image9.jpg" alt="" width="648" height="486" style="line-height: 1.3em;">
1. A two-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-berkeley+vale-418385170" target="_blank">115/15 Lorraine Ave Berkeley Vale</a> is up for rent for $310 per week. This property last traded for $170,000 in 2003 and was listed in early 2015 with price expectations of more than $199,000, according to CoreLogic RP Data.
 
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Median unit prices in NSW's Berkeley Vale grew more than national average

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Sydney is at the starting to decline property cycle for units, but its rental vacancy situation indicates a balanced market, in contrast to Melbourne, Brisbane, Canberra, Perth and Darwin which are facing oversupply, according to valuation firm Herron Todd White's May 2016 capital city market indicators for units.
Rental vacancies show an increasing trend in most capitals barring Canberra where it was tightening, according to HTW.
Canberra also stands out when it comes to new properties being sold at prices exceeding their potential resale value, which happens very frequently in the capital city, in contrast to the occasional such sales in Sydney, Melbourne and Brisbane.   
Interestingly, the trend in unit construction in Melbourne is 'steady' in spite of the oversupply and the volume of unit sales tilting towards a decline. 
 
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Sydney units a balanced market, Brisbane, Melbourne in oversupply: HTW 

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Tasmanian house sales cooled off during the March 2016 quarter however the unit market has taken up the slack according to the REIT.
Unit sales during the quarter are up 17.3 percent with the North West increasing 40 percent month on month and Hobart up 31.9 percent month on month.
Hobart’s median house price fell $5,000 to $385,000. Launceston was down $4,000 to $286,000 and the North West Coast down $25,000 to $235,000. 
The state median price for homes is $315,000.
REIT President Tony Collidge said a monthly breakdown of sales shows momentum had returned to the market at the end of March after a sluggish January/February. 
"If we exclude the December 2015 results, our March quarter 2016 was the highest performing quarter over the past two and a half years," he said.
"Whilst 41 suburbs or towns currently experience their highest median price ever, more than 163 areas are still at prices below 2008 levels.
"We have an affordable market with a capacity for growth. I remain confident that the future of real estate in Tasmania is optimistic and positive.”
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