<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" />

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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.

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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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The Coffs Coast is made up of several small coastal and rural townships located at varying distances from the major centre of Coffs Harbour, which was at the peak of market for both houses and units in valuation firm Herron Todd White’s April 2016 property clock. 
<a href="/images/2016/05/13/Screen%20Shot%202016-05-16%20at%208.10.24%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/13/Screen%20Shot%202016-05-16%20at%208.10.24%20AM.png" alt=""> 
The HTW property clock is a simple broad brush means of indicating where property markets are, and which direction they're headed in.
<a href="/images/2016/05/13/Screen%20Shot%202016-05-16%20at%208.12.37%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/13/Screen%20Shot%202016-05-16%20at%208.12.37%20AM.png" alt="">
A high proportion of the population would be considered fringe dwellers, being within commuting distance of Coffs Harbour for work and major facilities including tertiary education, airport and medical facilities. When considering the fringe dweller, a travelling time of around 30 to 60 minutes from Coffs Harbour is assumed, which would be considered standard travel time to work in most major metropolitan areas. 
North of Coffs Harbour, this time criteria would see you reach the more traditional beachside locations of Arrawarra, Arrawarra Headland, Mullaway and Corindi Beach (30 to 35 minutes). Traditionally these areas have been popular due to the small community feel, beach access and proximity to good facilities at Woolgoolga to the south. 
Entry level prices start at $300,000 for basic three-bedroom cottages and extended upwards of $1 million for prime headland locations. Corindi Beach is the cheapest of these localities with recent vacant land sales in the $160,000 to $200,000 price range for 600 to 800 square metre sites. House prices start at around $300,000 with average prices around $400,000 and rental returns around $400 per week. 
Further north (40 minutes) is the sleepy sherman’s village of Red Rock where there are basic corner store facilities and a bowls club, traditionally developed as weekend style accommodation popular with rural land owners. Entry level is around $275,000 for very basic accommodation with average prices in the $350,000 to $400,000 range. Due to the more distant location and lack of facilities, rental returns are low and not the reason one would purchase in this area. Capital appreciation has been steady over recent years although can be very slow during times of economic downturn. 
From here, a further 15 minutes drive will place you in the rural localities of Dirty Creek, Kungula and Halfway Creek. These areas are midway between Coffs Harbour and Grafton and are typically scrubby country with land sizes ranging from 4,000 square metres to 200 hectares. Entry level for small acreage sites with no building can be as low as $25,000 or around $100,000 for sites with basic weekend accommodation. Typically, these are rural lifestyle location with minimal market movement and low rental returns. 
To the north west of Coffs Harbour, dotted along the Orara Way (the back road to Grafton) are several rural townships such as Coramba, Nanna Glen and Glenreagh which provide cheap housing options in small communities within commuting distance. Prices for modest three-bedroom homes start around $250,000, however, these areas do not have high rental returns and generally show slow capital growth. 
Moving south of Coffs Harbour, the townships of Urunga, Valla Beach and Nambucca Heads are within a 45-minute drive which is soon to be reduced with the opening of the Pacific Motorway upgrade (Urunga Bypass) at the end of 2016. These areas have seen recent increases in rental returns and capital growth as part of the highway upgrade work currently being undertaken. Urunga (20-minute drive) is popular with the retiree market due to its reasonable facilities, good water and beach access and proximity to Coffs Harbour. Entry level is $300,000 to $350,000 with average house prices between $400,000 and $425,000. Expected rental return for the average three-bedroom home is $350 per week. 
Valla Beach, which is 10 minutes further south, has become an extremely popular beachside locality with recent land releases for a standard 600 to 800 square metre site ranging from $165,000 to $200,000. Entry level for basic older style cottages is $350,00 to $375,000 with prices rising to around $750,000. Rental returns have recently increased due to the influx of road workers, plus we have seen capital growth in the order of 5% to 10% over the past 12 months. 
The cheapest or best value for money locality is Nambucca Heads which lies 45 minutes south of Coffs Harbour. Being a low socio-economic locality, Nambucca Heads has traditionally seen little capital growth over the past five to seven years, however, like Urunga and Valla Beach, has experienced increases in rental returns and market activity due to the Pacific Motorway upgrade. Nambucca offers good lifestyle opportunities with quality beaches and waterways and school and shopping facilities. Entry price is around $250,000 and the average price for a three-bedroom home is around $300,000 to $325,000 returning $330 to $350 per week. 
In short, there are many options for the fringe dweller within the region offering a wide variety of options from remote rural localities to popular beachside communities. Typically, these areas have been established for their lifestyle attributes and not capital growth or rental returns, however, increasing population growth and infrastructure improvements in the form of Pacific Motorway upgrades to the north and south of Coffs Harbour are seeing renewed interest in these fringe localities, placing upward pressure on rental returns and increasing capital growth.
Property Observer looked up recently sold homes in the Coffs Coast region around the average prices and came up with these:
<img src="/images/2016/05/13/main.jpg" alt="" width="683" height="512">
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-corindi+beach-121571806" target="_blank">53 Simon Street Corindi Beach NSW 2456</a> sold for $415,000, according to <a href="https://www.realestate.com.au">www.realestate.com.au</a>.
<img src="/images/2016/05/13/700_brick.jpg" alt="">
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-nambucca+heads-121807822" target="_blank">30 Lee Street Nambucca Heads NSW 2448</a> sold for $330,000, according to <a href="https://www.realestate.com.au">www.realestate.com.au</a>.
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Lifestyle options abound in fringes of Coffs Harbour: HTW

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In our Purchase or Pass segment this week Andrew Rechtman from realestate.com.au and Evan Yanitsas from Century 21 discuss a property as advertised as having parking, but all is not as it seems.
Chris: It is a 2 bed, 1 bath unit with parking, 8.3 kms from the CBD and less than 500m to the local action. At 110sqm it’s one of the largest units in the area and boasts a north facing garden. It’s situated in a small federation block of 4 and has 3.2m high patterned ceilings and lime washed floorboards. It’s advertised as having a parking area but you can only park X cars. It recently sold for $1.35m and rents for approximately $900/wk
Evan: Size for a property, especially a rental property is very important. 110 sq m represents a pretty good size. The issue, as you pointed it out though, is the parking for this one and that’s something I think we should discuss.
Is parking important? Do we need parking? I think yes especially for an investment property. But yeah, these are the things to consider for this property.
The yield as we saw there, wasn’t as high as it could have been, and I think the introduction of…if it had a designated parking spot could have improved the rental return and made it a much more worthwhile investment.
Chris: Yeah, so certainly things to think about. One if the main things here is it has got a garden…how rare is it to have something like that? Again in the inner city?
Andrew: Yeah I think being in the inner city and having that green space is a real positive for this property and it does have that drawback of the scattered parking or shared parking but its got size, and not just the whole block size of 110sqm, but the individual bedrooms are a really big size.
We see a lot more people wanting to see the big bedrooms rather than more bedrooms. I think this place does a good job of presenting that. Then the outdoor area is a real bonus as well. So in an apartment you’re almost getting an extra room for those in Sydney 7 or 8 months of the year when you can be living outside. Any type of outdoor area we see as a big driver of engagement
Any time there’s a balcony a small garden or a courtyard we see a lot more interest from people looking at our properties.
Chris: I guess it all comes down to the competition, we were talking earlier about things like go get or even having a car stacker
Evan: The body corporate here could definitely, maybe not for this property, but could consider putting in a stacker. This way every property would be able to have the car park on total and that would definitely increase the rental yield making this property a lot more attractive to investors.
Chris: Again, looking at some of these other properties around the CBDs and then these bigger developments, quite often they have the bike racks and the motorcycles and even shared bikes you see... I notice up in Brisbane and places like that.
It is a different way of thinking. So I’ve always been very set on the parking but it’s a changing world isn’t it?
Andrew: I think if you’re getting the inner city areas, really tight inner city suburbs, a place like west end in Brisbane, any of the Perth CBDs, I think parking is becoming less of an issue. Particularly for those who live, work in the CBD and they do have access to Uber, Go Get and all those other ride sharing services as well as the good old taxi now and then.
Chris: I guess with the scattered parking as well you normally come home at about 3 in the afternoon say you pick up the kids that’s probably actually an advantage. Whereas if you’re an accountant or real estate agent working till 9 or 10 at night…
Evan: Usually there are status quo forms until a new tenant moves in and then it’s sort of up in the air again until everything settles down.
Chris: purchase or pass for you?
Evan: Pass for me
Andrew: I’ll be a contrarian, purchase for me.
Chris: Whilst scattered parking is better than no parking, I would rather wait and find something with a guaranteed space. Also the low yield gives a hint to me that someone maybe paid over the odds as they really wanted a garden apartment as they are rather unique and would pay any price and so I would pass.
To watch the interview in full, <a href="https://www.youtube.com/watch?v=0judzTYkULE" target="_blank">click here</a>.
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Purchase or Pass? The ins and outs of inner city parking with Chris Gray

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The property market in Queensland's Hervey Bay was at the start of the recovery cycle, according to valuation firm Herron Todd White's April property clock, a simple broad brush means to suggest where property prices are and which direction they are headed.
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The layout and composition of property in Hervey Bay limits the degree of fringe property. Within the same suburb, property ranges from conventional onground brick or low-set cottages to executive homes with extensive improvements or esplanade frontage.
The Hervey Bay market is well known for its affordability aspect. The past two years has seen rental rates steadily increase which has resulted in relatively good returns for investors. The developing estates offering four-bedroom, two-bathroom accommodation are achieving rental rates in the range of $360 to $380 per week with house and land package prices ranging from $345,000 to $370,000. Falling unit prices and increasing rental rates have also seen investors return to the unit market with some traditional holiday complexes converting to permanent to capitalise on the more consistent cash flow.
The older established areas of Hervey Bay also provide good affordability with early 1990 onground brick, three-bedroom, one-bathroom homes with single garages in the mid $200,000s.
This style of property achieves rental rates in the range of $280 to $320 per week. Although the continuous supply of house and land packages is creating a price ceiling for the new product market, there is potential to see some capital growth in these older established homes given the clear price gap currently being seen.
Maryborough is also a very affordable market. Prices have been falling over the past year with consistent activity in the mid to high $100,000s for typical post-war timber homes of either two- or three-bedroom accommodation. Rental rates appear to be increasing with the base rental rate in the order of $260 per week. At a price of $180,000, this would provide a gross return of 7.5%. 
Property Observer looked up some recent sales in Maryborough on www.realestate.com.au and came up with these in the affordable range.
<img src="/images/2016/05/13/main-1.jpg" alt="" width="667" height="500">
A two-bedroom highset house at <a href="https://www.realestate.com.au/property-house-qld-maryborough-121420190" target="_blank">39 Churchill Street Maryborough Qld 4650</a> (above) fetched $190,000.
<img src="/images/2016/05/13/image18.jpg" alt="" width="661" height="496">
A two-bedroom cottage at <a href="https://www.realestate.com.au/property-house-qld-maryborough-122251114" target="_blank">27 JOHN LANE Maryborough Qld 4650</a> sold for $191,000.
 
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Queensland's Hervey Bay fringes are a good bargain for investors: HTW

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Mildura in Victoria was at the start of the recovery period in Herron Todd White's latest property clock, a simple broad brush means to indicate where property prices are, and where they are going.
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While many of the dwellings constructed in Mildura’s early days were of a fairly basic standard, many have survived and continue to receive good buyer demand. These older dwellings are located within easy walking distance of Mildura’s town centre, dining and nightlife precinct and therefore appeal to both young professionals and older downsizers.
The better standard homes in Mildura are traditionally located west of Deakin Avenue, with the older character homes always well sought after.
Demand remains strong, particularly for properties with good street appeal. Values in these areas vary depending on the size of the land and residence and standard of external features, however, they typically range between $300,000 and $500,000, with some unrenovated dwellings fetching lower prices.
In the past few years there has been improving demand for homes in some inner areas on the eastern side of Deakin Avenue, in those locations within one kilometre of the town centre.
Homes in these areas are typically smaller and more affordable. Recent sales in these areas have generally been in the range of $180,000 to $280,000, with the cheaper end of this range being for dwellings that require renovation.
<img src="/images/2016/05/12/image4.jpg" alt="" style="font-size: 12.16px; line-height: 1.3em;">
To illustrate this affordability, Property Observer came across a two-bedroom bungalow at <a href="https://www.realestate.com.au/property-house-vic-mildura-121817926" target="_blank">109 Olive Avenue, Mildura</a> (above) for $287,500 on realestate.com.au
There has been a gradual trend for the more basic dwellings in these areas to be either demolished or renovated, which has contributed to an improved profile.
HTW expects these areas to continue to receive good demand from budget-conscious buyers who seek the convenience of living close to the town centre and are prepared to undertake some renovation work. 
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Victoria's Mildura is for the budget-conscious buyer: HTW

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The Gold Coast, Sunshine Coast, Ipswich, Caboolture, Caloundra and Noosa all have rental vacancy rates of less than two percent according to the REIQ March quarter Vacancy Rate Report.
Chief executive officer of the REIQ Antonia Mercorella said the Sunshine Coast has had tight conditions for more than four years and rental accommodation can be very challenging to find and believes the local market needs dwelling construction.
REIQ CEO Antonia Mercorella said the data showed that specific markets in southeast Queensland were crying out for greater investment and more housing construction, adding that negative gearing has contributed to rental affordability - benefitting one-third of Queenslanders who rent. 
“With the national debate focused on negative gearing it’s important to remember that negative gearing has been critical in maintaining a supply of investors to the market who provide rental accommodation, and this has also helped keep rent levels in check,” she said. 
"The tightest vacancy rate in Queensland is the Sunshine Coast Hinterland, with 0.9 percent, which includes towns such as Maleny, Nambour and Eumundi. Cairns has been the standout regional centre, with further tightening of the vacancy rate, from 2.5 percent down to 2.1 percent. 
“The Cairns property market is showing signs of consistent, solid improvement and this is a reflection of the broader economy which has rebounded well from the post-GFC woes. There are some great signs of recovery in Cairns, including significant levels of development already taking place.”
 
Brisbane's inner-city CBD recorded a drop from 3.1 percent to 3.0 percent. 
“The inner 5km ring is at 3.3 per cent and the middle ring is at 2.5 per cent – these levels continue to fall within what the REIQ considers the healthy range,” she said. 
“We are clearly not oversupplied – at this stage.”
 
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Sunshine Coast, Gold Coast rental market tight: REIQ

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<div>NSW's Wagga Wagga has been a rising market in both April and May, according to valuation firm Herron Todd White's property clock -- a simple broad brush means to suggest where property markets are and what direction prices are moving in. </div>
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<div>Like all towns and cities the edge is where expansion occurs. In Wagga Wagga, this includes areas to the north at Estella, Boorooma and Gobbagombalin, to the east at Forest Hill, to the south at Bourkelands and Lloyd and the south west at Uranquinty. All these areas have seen 10% to 20% growth in vacant land values over the past two years.</div>
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<div>It’s not necessarily affordability that people are looking for, it’s a new dwelling. It must be remembered that nothing is more than 10 minutes away in Wagga Wagga which compares a lot more favourably than the bigger cities where a trip to the local shop can take 10 minutes. Dependent on the size as well as other variables, new houses sell in the outer areas for between $350,000 and $550,000. This is comparable to the cost of housing in the central suburbs of Wagga Wagga, Turvey Park and Kooringal. It appears some people do not want the hassle of maintenance an older dwelling requires.</div>
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<div>Infrastructure does not seem to be a factor either. For example Estella, Boorooma and Gobbagombalin do not have a public school, local shop or licensed premises. It will be interesting to see how all these areas fair over the next five to 10 years. There is a chance that in the short term, because of the number of new dwellings having been constructed and currently being constructed so close together both by locals and out of town investors, that values will drop.</div>
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<div>Other factors too will have an impact including higher education funding and housing requirement, defence housing requirements and probably more importantly the weather. This is one factor that politicians can’t simply add money too. Wagga Wagga’s economy relies heavily on the rural sector and should it be negatively impacted the flow on affect will be felt around the town. 
Property Observer looked up some recently sold properties in the fringe areas of Wagga Wagga in the $350,000 to $550,000 range and found these on www.realestate.com.au:
<img src="/images/2016/05/12/main-2.jpg" alt="">
A four-bedroom house with a garden at <a href="https://www.realestate.com.au/property-house-nsw-wagga+wagga-118681587" target="_blank">3 Tubbo Place, Bourkelands Wagga Wagga</a> (above) fetched $390,000.
 
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A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-forest+hill-121204414" target="_blank">2 Teak Close Forest Hill NSW 2651</a> (above) sold for $510,000, according to RP Data.
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NSW's Wagga Wagga's fringes offer promise for new home buyers: HTW

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Sunshine Coast in Queensland has remained a rising market for both houses and units in valuation firm Herron Todd White's property clock --  a simple broad brush means to suggest where property markets are and what direction prices are moving in. 
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HTW also examined the fringes of Sunshine Coast in its April's report.
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The first half of 2015 was running pretty hot. There was a strong increase in sale volumes with entry level properties being the most popular. Investors comprised a higher percentage of our market with some buyers being priced out of some coastal areas. The sub $500,000 housing market close to coastal centres has shown the largest sign of the market improving. To find value and affordability for either investors or owner-occupiers, you are reviewing property type or looking further afield.
The population base generally runs along the coast from Noosa Heads south to Caloundra. While there are some small infill fringe areas near the coast, our real fringe areas tend to be the hinterland and railway townships form Cooroy in the north through to Beerwah to the south incorporating the main centre of Nambour and a number of small towns. Within these areas entry-level dwellings are around the high $200,000 to low $300,000 with these properties generally renting from between $300 to $350 per week which is not a bad return.
Within these areas there are a number of small infill subdivisions that have been performing well on the back of relatively low land prices. One big benefit is that the sizes appear to be more traditional at 600 to 800 square metre allotments with some larger rural residential allotments. Comparing this to the mainly small lot product in the coastal areas is leading buyers to look at these areas as a good alternative for families. Another factor leading to people looking at these areas to live and invest is the sense of community being generated. The schools have that country feel, there are a number of sporting clubs and the towns provide a small main street.
All in all we believe that these hinterland and railway townships have and will continue to tick over pretty well. There is very much a big affordability factor that goes into these areas and that you get some bang for your buck. We have also started to see some lifestyle factors come into play and the fact that people are looking to these areas to raise families. 
Property Observer looked up a few recent sales around the $200,000 to $300,000 plus range in Cooroy and Beerwah on www.realestate.com.au and came up with these:
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A two-bedroom townhouse at <a href="https://www.realestate.com.au/property-unit-qld-cooroy-121409690" target="_blank">6/16a Kauri Street Cooroy Qld 4563</a> (above) sold for $330,000. 
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A two-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-beerwah-108437626" target="_blank">25 Greber Road Beerwah Qld 4519</a> sold for $290,500.
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Sunshine Coast's fringes offer more bang for buck: HTW

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Many doomsday predictions have been dumped on regional cities in the wake of adverse events. Few of those forecasts have come to pass.
When negative events sour the economy of a regional city, the community mobilizes. Civic, business and political leaders take action. The apparently doomed city fights back, recovers and often reinvents itself.
The latest to have a premature death proclaimed, Townsville and Whyalla, follow a long line of notable examples of cities about which their death was greatly exaggerated. They include Newcastle, Wollongong and Geelong.
Newcastle was widely considered to have suffered a mortal wound when BHP shut down in the late 1990s. It fought back and is today one of Australia’s largest and strongest regional cities. Its economic strength and diversity has been sufficient to withstand the negative impacts of the recent downturn in the coal sector.
When Bluescope Steel seriously downsized in 2011, it was declared the end for Wollongong. I recall one newspaper headline which predicted a 50% decline in property values. In contrast to that rather extreme forecast, Wollongong’s property market has shown strong growth in recent years. 
What many failed to realise is that Wollongong was no longer a smoke-stake town dependent on steel furnaces for its prosperity. It had been reinventing itself for years, with education, IT and tourism the key sectors.
Similar things are true of Geelong, once a factory town but now a modern city where the biggest employers are the health and education sectors. The decision to locate the national headquarters of the NDIS in Geelong has created a new industry sector, with related businesses keen to locate nearby.
So the impending closure of a car plant, while an adverse event many would prefer did not happen, can be absorbed by this growing economy without too many side-affects. Geelong continues to be the strongest Victorian property market outside of Melbourne.
Now we have Townsville apparently on its deathbed because another of Clive Palmer’s extravaganzas has gone belly up.
When this story exploded in January I wrote: “The latest Australian regional city to inspire a premature obituary is Townsville in the wake of the decision by political and business buffoon Clive Palmer to shed 237 jobs at his Queensland Nickel refinery.
“As has become common in the wake of such events, the media coverage has been a tad over the top since the announcement. I’ve seen reports predicting devastation of the local economy. One suggested Townsville would become ‘a ghost town’.”
The story has moved on since then, with the refinery business collapsing. That’s a hit to the Townsville economy, particularly as it was struggling a bit beforehand. But it’s far from terminal.
Townsville is a very resilient place. It has one of the most diverse economies in regional Australia, with strong elements of government administration, education, tourism, the military, the resources sector and manufacturing.
And lots of positive news has emerged more recently. Some seriously major enterprises have stepped forward to help take up some of the economic and employment slack created by Clive’s latest brain explosion.
The economic and defence deal between Australia and Singapore means $2.25 billion in new defence infrastructure will be built in Queensland, including in Townsville, which already has a big military presence through its RAAF Base and recently-expanded Army base.
In the past week came the announcement of “Australia’s biggest solar farm” covering 200ha just outside Townsville, with Origin Energy signed up to buy the electricity generated from 2017 to 2030.
A $400 million maintenance contract for Queensland Rail will be shared between UGL in Townsville and Downer EDI in Maryborough, reportedly at the behest of the State Government.
The State Government says it has fast-tracked almost $200 million worth of infrastructure spending in the Townsville area to boost the economy in the wake of the nickel refinery collapse, while $75 million in Federal Government funding will help establish the new Cooperative Research Centre for Developing Northern Australia in Townsville.
If you add together all those positives, and subtract the nickel refinery negative, I see it as a net gain for the city of Townsville.
Whyalla in South Australia will take a hit if attempts to rescue the Arrium steel business are unsuccessful. Arrium, formerly OneSteel, is a big chunk of Whyalla’s economy and is in voluntary administration.
But is this the end for SA’s biggest regional city? I would suggest not. Like Townsville, Whyalla has been attracting plenty of positive announcements in the past few weeks.
Oz Minerals is advancing its $975 million Carrapateena copper mine expansion and it wants to build its $150 million Concentrate Treatment Plant at Whyalla. The mine expansion will create 800 jobs and it’s hoped many of the workforce members will be sourced from Whyalla.
BHP Billiton continues to work on its alternative plan for development of the Olympic Dam resource and said in April it hoped to include Whyalla in the new project plans (put together after the previous $30 billion scheme was shelved because it was too expensive).
And there is hope for Arrium in the announcement that 15,000 tonnes of its steel will be used for a $620 million road project, the Darlington Upgrade Project, in Adelaide.
The Federal Government has handed Arrium at $80 million contract to replace around 1200km of rail lines for federal agency ARTC.
Arrium is also a chance to attract steel orders from the recently-confirmed Federal Government project to build 12 submarines in Adelaide.
I’ve been getting lots of emails from people who own real estate in Whyalla. I would suggest those who panic and sell in the wake of recent negative headlines will regret it later.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
 
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Doomsday predictions dumped on regional cities: Terry Ryder

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Alkira, the Cape Tribulation trophy home, has had a massive asking price reduction from $15 million down to $8.8 million.
This however followed a two year increase from $9 million hopes to $15 million after it hit the market in December 2013.
The vendors, stamp collector Rodney Perry and wife Marider are open to discussing any reasonable offer for the site that cost them $1.75 million in 2006.
David Cotton of Raine &amp; Horne Port Douglas has taken over the newly priced listing of <a href="https://www.realestate.com.au/property-house-qld-daintree-117495083" target="_blank">3726 Cape Tribulation Road</a>.
Designed by multi award-wining architect Charles Wright, the home looks like something you'd see in the sky rather than on the ground.
The home looks like its floating on the water which surrounds it.
Set on 29.5 hectares, the home splits off into six separate bedrooms pods, all with en suites and five with balconies which protrude over the lake.
The estate also features a study fitted with marble benches, a spacious open air theatre with an 84 inch LED flat screen and a helipad located 100 metres from the property
A large standalone plunge pool fills the middle of the home and is met by an outside kitchen and quirky seating area.
With a completely self sufficient water supply and power, Alkira harnesses its energy and water from the natural surrounding.
The property won the 2014 Queensland Architecture Award and is the only place in the world covered by two World Heritage listings – one for the Great Barrier Reef and one for the Wet Tropics heritage area.
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Alkira's asking price down

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Two new properties are listed on the top ten discounted properties nationwide list from SQM Research - one in South Perth, the other in New South Wales.
The South Perth property, number two on the list, has had the price reduced $775,000 according to SQM managing director Louis Christopher.
He said the home, 82 Douglas Road South Perth, first came on the market in March 2016 with an original asking price of $1,950,000.
"The vendor has reduced the price twice, once in the middle of March, then again late last month. Overall, the property has been reduced by a massive $775,000," he said.
"With a total four bedrooms, four bathrooms, and two car spaces, and a reduction of 40 percent this property certainly has a lot to offer.
"It features two studies, two large living rooms, a generous combined kitchen and dining quarters, shed, recently installed reverse cycle air-conditioning and a below ground outdoor pool. The property is located approximately 7km outside of Perth CBD, and within short walking distance of public transport."
The second property, 69 Sarah Road Matcham, on the NSW Central Coast has spent some 516 days on market already and first came on the market in December 2014 with an asking price of $2,570,000 that was cut to under $2 million in January 2016.
It was reduced further to its current listing price of $1,775,000 last month, Louis Christopher said.
"The listing also states that a large selection of the current furniture is also included in the sale price. This is great news for interstate buyers who might not want to cart all their own furniture, and or buyers looking to lease the property out straight away," he said.
"The property is located within close proximity of local schools, cafes and shops including Erina Fair Shopping Centre. The home is also within close proximity of the stunning Terrigal Beach and only 1.5 hours’ drive from Sydney CBD."
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