Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

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Joel Robinson

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
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The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
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The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
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The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

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Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
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“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
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The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
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Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
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“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
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“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
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Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

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Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

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Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Central Element is seeking approval for a significant residential redevelopment in Lavender Bay, lodging plans for a dual-tower apartment project that would deliver 163 new homes on a prominent site at the northern gateway to Milsons Point.

The Sydney-based builder-developer has lodged a concurrent rezoning proposal and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/64-66-lavender-street-lavender-bay-nsw-2060">64-66 Lavender Street and 3-7 Middlemiss Street</a>, a 2,305 sqm amalgamated site currently occupied by a collection of ageing residential flat buildings.

Designed by SJB, the proposal would replace the existing 32 apartments with two residential towers rising 23 and 32 storeys, comprising 163 apartments including affordable housing managed by a community housing provider. The project forms part of the NSW Government's Housing Delivery Authority program and has been progressing through a fast-tracked state planning pathway since being endorsed for further assessment in 2025.

The proposal is one of the most significant redevelopment opportunities currently under consideration on Sydney's lower north shore, sitting between the high-density towers of Milsons Point and the lower-scale heritage fabric of Lavender Bay.

<img alt="Lavender Bay" data-entity-type="file" data-entity-uuid="93ecf0ee-487d-4292-afc4-0bc9579475d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.48%E2%80%AFAM.png?VersionId=PunU2ipMaTxiJcJ8NdMyUlWA7d98eNUb" />

The planning proposal seeks a substantial uplift from the current 12 metre height limit, which would only allow for a four-storey building, however the submission argues a scheme within these limits would not be&nbsp;economically feasible given the complexity of site amalgamation and would fail to maximise housing delivery on land located within walking distance of major transport infrastructure.

SJB said the design evolved significantly following discussions with the Department of Planning, Housing and Infrastructure and independent design review processes.&nbsp;Rather than pursuing a single larger tower, the architects adopted a two-tower approach aimed at reducing perceived bulk, preserving view corridors and creating greater permeability at ground level.

The northern tower would rise 23 storeys and contain 81 apartments, while the southern tower would reach 32 storeys and accommodate 82 apartments. Five basement levels would provide 174 car spaces, 181 bicycle spaces and 10 motorcycle spaces.

"The proposal for 3–7 Middlemiss Street and 64–66 Lavender Street is driven by a clear ambition to complete the Middlemiss Peninsula, delivering the final piece of a carefully evolving urban precinct," SJB noted in its design report.

"Positioned at the threshold between Lavender Bay and the North Sydney CBD, the development is envisioned as a unifying element—one that completes the skyline composition while providing a considered and harmonious transition between the peninsula’s established character and the intensity of the CBD beyond.

"Collectively, the development aspires to create a landmark that is generous, inclusive, and deeply connected to its setting, one that enhances the skyline, strengthens the public realm, and contributes to a more equitable and sustainable urban future."

Communal spaces would be distributed across multiple levels, including landscaped podium gardens, swimming pool facilities, barbecue areas and rooftop-style retreat spaces designed for residents. The proposal delivers more than 1,500 sqm of communal open space and nearly 400 sqm of indoor communal facilities.

<img alt="Central Element" data-entity-type="file" data-entity-uuid="0671c276-6dd8-4cfc-97b0-134a45d2c8cf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.17%E2%80%AFAM.png?VersionId=90D7lRaCTMTsFx92tIBrHlZcuaV_a4cw" />

A major focus of the planning assessment has been the project's relationship with surrounding public open spaces.

Clark Park, Bradfield Park and Wendy Whiteley's Secret Garden are among the lower north shore's most valued public landscapes, and overshadowing impacts have been closely examined through the design process. Central Element is proposing to also create a new public plaza and pocket park as part of the development.

Central Element has been developing across Sydney since 2010.

They have recently completed their Chatswood tower, Ethos Chatswood, as well as their luxury redevelopment of Coogee's landmark Ballamac House. They are currently selling Pearl Bondi, just seven high-end homes, while future plans include a tower on Hyde Park, and a boutique project in Neutral Bay.

First look: Central Element reveals Lavender Bay apartment plans

Rural Market

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Confidence in the Darling Downs region market has been boosted by winter rainfalls, says the latest rural report from valuation firm Herron Todd White.
A good winter crop and strong herd numbers leading into the summer months is expected.
The positive farming conditions follow severe drought in 2018 and 2019 that saw cattle and sheep numbers drop.
HTW director Bradley Neill writes: “2020 has provided far better farming conditions and with that has come strong appetites for rural property.”
According to the report, sale prices continue to exceed pre-sale expectations.
Numerous transactions show significant price premiums over district averages, driven by private farming families and interstate cattle and sheep producers.
The recent sale of a 22,000ha holding in the Adavale Quilpie district shows a 19 per cent increase in value over a 14-month period.
A new benchmark has been set for Brigalow and Belah dryland farming country in the Darling Downs region following the sale of the broadacre farming property, Manus.
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The Manus property.
The land recently changed hands for approximately $10 million, $3,960 per hectare.
The market is favouring sellers at the moment, who are presenting their properties to the market in conditions not seen for a number of years.
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j.ballantyne1990-6AQqhLzZaK

The Darling Downs rural market prices exceed expectations: HTW Rural

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The Mildura region has yet to see a reduction in local buyer demand, but sales volumes are expected to stay low for the next few months, according to the latest rural report from valuation firm Herron Todd White.
Rural industries will most likely wait to see what the medium-term outlook will be on the operation of domestic and export markets, say HTW’s Shane Noonan and Graeme Whyte.
“While Australian agriculture appears to be weathering the COVID-19 period, the main concern is how quickly the global and national economies will recover from the pandemic.”
The long-term continuation of border closures or travel restrictions may have some detrimental impact on sale activity and value levels.
A farming family of Victoria’s Wimmera region recently purchased a grazing holding just over the border in South Australia but are now unable to enter the state and access their property.
According to the report, positive seasonal conditions and forecasts in the Murray Darling Basin are likely to see the temporary water market remain around current levels in the short term.
Recent sales in the region include an 82 ha table grape property in the Euston area and a large dryland cropping holding northeast of Mildura.
Each of these sales show rates per hectare above pre-COVID-19 levels.
The full Herron Todd White 'Month-in-Review' for September can be read <a href="https://static.htw.com.au/HTW-month-in-review-September-2020-Rural.pdf">here</a>.
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Mildura rural property weathers the storm of COVID-19: HTW Rural

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The Cassowary Coast Regional Council area has seen a continued resurgence of the banana farm market, according to the latest rural report from valuation firm Herron Todd White.
Since July 2019, approximately 20 per cent of total rural sales over 20 ha comprise sales purchased for conversion to banana production or of going concern banana farms.
Banana prices have gradually improved since its 2016 low caused by the Panama TR4 banana disease, according to the report.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-10%20at%2011.43.40%20am.png" alt="">
Recent trends in banana prices in the Brisbane and Melbourne have both increased.
HTW director Danny Glasson notes 60 sales over 20ha has occurred in the region since July last year.
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Cairns region sees the resurgence of the banana farm market: HTW Rural

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The Gold Coast region’s rate per hectare for larger land holdings has been improving, according to the latest rural report from valuation firm Herron Todd White.
This is evident in a recent sale of the Scenic Rim property ‘Wirraway’ which broke a record in the region.
Originally listed for $20 million before being gutted by fire, the property sold for $8.05 million in July.
HTW director Janine Rockliff notes the buyer, a couple from western Queensland, own an adjoining 777.92 ha property which they purchased from the Queensland government for a total of $15.6 million.
This brings their total spend to $23.65 million or $17,602 per hectare gross.
The property is in close proximity of a number of other large holdings transacted in the past three years, including the 865ha Gorge Farm for $6.15 million and 1,345ha Broadlands property for $19.4 million.
Purchasers seeking larger holdings and an increased interest in the area has improved the rate per hectare.
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The value of large rural land holdings in the Gold Coast is improving: HTW Rural

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Positive conditions have instilled a high degree of confidence in the Echuca and Deniliquin regions, according to the valuation firm Herron Todd White’s latest rural report.
A well above average season in regard to crop and fodder is expected due to most of the area receiving around 100 millimetres of rain throughout autumn, plus good follow-up winter rainfall, says HTW director John Henderson.
“The overall result of this confidence in the seasonal outlook in the area has translated to a rising market”, Henderson said.
Some degree of uncertainty about the outlook for commodity prices in the short-term remains.
The report noted recent sales that showed a $1,000 per hectare rise, including a batch of well-developed irrigation properties close-by the Finley district sold for $5,435 to $6,175 per hectare.
This is compared to similar properties which sold for $4,570 to $5,065 per hectare in December 2018 to February 2019.
“The rising market is a feature of most of southwest New South Wales and northern Victoria, with agents reporting strong enquiry in the region.”
The general outlook for the region is for rural values to continue to rise.
However, the report notes that uncertainty around key commodity prices may start to influence decision-making in the near future.
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Rural values continue to rise in the Echuca and Deniliquin regions: HTW Rural

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Victoria’s Gippsland region has only seen moderate growth in land prices in comparison to the remainder of the state.
According to valuation firm Herron Todd White’s latest rural report, this is a result of consecutive poor seasons, including recent bushfires, drought and now COVID-19.
However, the supply of property on the market has been steady in 2020, wrote HTW’s Angus Shaw.
“Irrigation areas such as the Macalister Irrigation District have continued to show their strength with relatively balanced supply and a continued strengthening in demand from both dairy and vegetable growers.”
This can be seen in recent sales, such as 160ha irrigated dairy property Roonsleigh at Tinamba, which sold in excess of $25,000 per hectare inclusive of water.
Other recent sales include two sales of grazing country at Boisdale, suitable for vegetable production, which both sold at auction for in excess of $30,000 per hectare.
According to the report, approximately 70 per cent of dairy operators are expecting a profitable and above five year average return this season.
“The decreasing input costs of hay and grain, improved seasonal conditions and relatively strong milk prices this season have led to significantly improved confidence in the local dairy sector.”
Evidence suggests that the COVID-19 pandemic is having little impact on the majority of rural markets, although drought and bushfire have softened the demand for some grazing properties.
 
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Rural Gippsland sees moderate growth: HTW Rural

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During the early panic-stricken days of COVID-19 in March, a number of agents in Western Victoria and southwestern South Australia advised of cropping and grazing buyers pulling offers on properties going to tender due to the significant uncertainty surrounding the pandemic, according to the June Herron Todd White (HTW) rural report.
The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. 
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"Weeks on, those offers being pulled from the market really seem immaterial as the properties sold regardless and farmers more generally have gained confidence that they are a required essential service, maybe more so than ever.  They are also probably the least likely to be stopped in their tracks due to social distancing requirements," the valuation firm said.
The current depth of demand in the market for cropping and grazing land is significant and demand still far outweighs supply in most areas.
Cropping and grazing farmers in this region have been lucky in recent times to avoid the bushfires and droughts of the recent past and continue to go about their daily business on farm.
Many farmers are currently getting ready to or have already started to sow their winter crops.
The report notes sales remain few and far between due to a limited supply to the market but every sale appears to be setting a new benchmark with cropping country in the Wimmera reaching over $9880 per hectare for smaller parcels and grazing land down south well over $12,350 per hectare.
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Labour shortages may be an issue for the more northern fruit picking markets but from all reports, this region appears to be attracting its sons and daughters back to farms from hospitality and associated city lives during this crisis.
"With reports of daughters driving tractors and kids helping move sheep, ag is looking sexier than ever to some of the younger generation who are starting to appreciate the lucky country we live in," the valuation firm said. 
Some of the more intensive asset classes in this region are having mixed results from the pandemic, the report suggested. 
Vegetable producers in particular and producers supplying the major supermarkets struggled to keep up with demand during the early days of hoarding which resulted in a spike in vegetable prices to the farm gate.
On the flip side, those exporting produce overseas or selling into premium markets have been hard hit and left with excess produce in some instances. This is especially evident in the wine regions of the Coonawarra and Barossa where wineries, cellar doors and many associated food and tourism businesses have been decimated by the closure of their export or local markets and tourism.
The report notes the flow on effect to producers is evident. It is these sub-regions and intensive businesses that are generally the source of the largest proportion of employment in these areas.
"The impacts of the pandemic will likely have a lasting impact on these local economies, however, the Australian ag sector more generally remains incredibly resilient and it will likely take more than this pandemic to keep it down," the valuation firm said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/vic%20valley%201.jpg" alt="">
A current listing is a lifestyle property nestled in the centre of the Grampian Ranges. 
The<a href="https://www.realestate.com.au/property-acreage+semi-rural-vic-victoria+valley-132026966" target="_blank"> 2633 Victoria Valley Road, Victoria Valley</a> property (pictured above) has been listed with a price guide of $760,000.
Set on near 18ha, the property comprises of a three bedroom residence, airstrip, shearing sheds, aircraft hangar and workshop. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/mefeking.jpg" alt="">
A 32ha lifestyle property set on the foothills of the Grampians National Park has recently been sold for $210,000.
The <a href="https://www.realestate.com.au/sold/property-other-vic-mafeking-700076566" target="_blank">145 Regulating Basin Road, Mafeking</a> property (pictured above) features sound boundary fencing, native trees, dam and Grampians views. 
 
 
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Western Victoria and southeastern South Australia rural markets remain resilient during COVID-19 pandemic: HTW rural 

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An increase in listings across the western Darling Downs, Maranoa and northern New South Wales regions has been observed over the past two months, according to the June Herron Todd White (HTW) residential report. 
The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. 
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The report notes agents are reporting that sellers are looking to capitalise on the good bodies of feed now on the ground following years of drought.
Strong re-stocker demand continues to support high cattle prices, which are underpinning grazing land values.
"The cattle market remains strong despite the country now haying-off in most areas and should the good rain forecast over the winter fail to eventuate, the body of feed currently available runs the risk of spoiling," the valuation firm said. 
In the Darling Downs region, many farming operators are holding off planting until receiving beneficial rain to provide a full moisture profile.
As supply increases, there is strong potential for a softening in market sentiment as the pool of potential buyers is absorbed, the report noted. 
The impacts of the barley tariffs and Australian meat export restrictions by the Chinese government may reduce buyer confidence, however these effects may take some time to play out.
Some recent listings in south-east and south- west Queensland include:
◗ Telco, Roma (pictured below) -939.5 hectares-to be auctioned 18 June
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/roma%202.jpg" alt="">
◗ Dunkery, Condamine-2944 hectares-to be auctioned 11 June
◗ Spring Grove, Roma-2496 hectares-to be auctioned 2 July
◗ Wattlevale, Moonie-3138 hectares-EOI
◗ Lesdale, Charleville-14,827 hectares-EOI ◗ Murilla, Meandarra-7655 hectares-EOI
◗  Nungil, Charleville-14,524 hectares–to be auctioned 17 June
◗  Tomoo, Mungallala-18,215 hectares-private treaty after being removed from auction terms
◗  Mundibulanga, Drillham-2678 hectares-EOI
◗  New Cashmere, St George-4458 hectares-EOI
◗  Greenoaks, Mitchell-5100 hectares–auction held 22 May
◗  Yambutta, Quilpie-41,083 hectares–to be auctioned 13 July
◗  Whyenbirra, Bollon (pictured below)-14,358 hectares-to be auctioned 18 June
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/bollon.jpg" alt="">
◗  Terrica aggregation, Texas-15,990 hectares-EOI
◗  Kilto, Wandoan-4042 hectares-EOI
Recent sales include:
◗  Cooraki, Surat-2128 hectares-sold $3.85 million ($1809 per hectare)
◗  Glen Lindon, Injune (pictured below)-2627 hectares-sold $3.4 million ($1294 per hectare)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/13/injune.jpg" alt="">
◗  Oban, Jimbour Plains-377 hectares-sold at auction $4.705 million ($12,599 per hectare)
In summary, the market may be approaching a tipping point where the strong increase in listings may see values stabilise following a period of strong growth, the report noted. 
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Darling Downs rural market approaching the tipping point: HTW rural 

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<div class="column">A good autumn with most of the area receiving around 100 millimetres of rain during March and early April has instilled early confidence in a reasonable season in the Echuca and Deniliquin markets, according to the June Herron Todd White (HTW) rural report. </div>
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<div class="column">The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. </div>
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Combined with the long term forecast of good rains for the 2020 winter season, the general outlook for the rural sector is good, the report noted. 
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<div class="column">Locally, farmers are quite confident of a good season and reasonable commodity prices despite the obvious impact of COVID-19.</div>
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<div class="column">Agents are reporting a gradual increase in enquiry for rural property over the past month or so that will no doubt translate into a gradual improvement in sales activity.</div>
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<div class="column">"We are aware of two sales contracted in late March that are at levels similar to pre COVID-19."</div>
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<div class="column">A significant influence in the market has been the low interest rates and the perception that interest rates will remain at or around this level for the foreseeable future," the valuation firm said. </div>
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<div class="column">A mixed irrigation and dryland holding to the south of Deniliquin contracted for sale in April 2020 for about $10 million, showing around $2450 per hectare excluding water. </div>
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<div class="column">The purchasers were local farmers, indicating plenty of confidence and strength in the market place, the report notes. </div>
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<div class="column">"At this point in time, the general outlook for rural values in the area is for values to steady or see a slight rise," the valuation firm said. </div>
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<div class="column">A Carag Carag farm has recently been sold for $335,000.</div>
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<div class="column">The property at 662 Blamey Road (pictured below) features four bedroom homestead, colorbond shed, internal fencing and native garden. 'Currently the farm is used for grazing stock.</div>
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<div class="column">A current listing is Yallum Vale, a 422ha Dairy farm in Echuca priced at $3.8 million.</div>
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<div class="column">The 1151 McKenzie Road property (pictured below) includes two homes on separate titles, 50-stand rotary dairy and machinery shed. </div>
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It is located just 10 minutes south east of Echuca. 
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Echuca and Deniliquin rural markets remains steady: HTW rural

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An increase in interest has been driving values upward in NSW’s north west and the New England region, according to the latest rural report from valuation firm Herron Todd White.
The regions long-term drought conditions have seemingly not reduced the appetite for prospective buyers.
The recent sale of Pandora, 14 kilometres south of Walcha, shows the demand from neighbours looking to expand – One of the biggest sale drivers in the region.   
The property recently sold at auction for $4.65 million.
This represented a value of $9699 per hectare ($3927 per acre), which was well above the local average.
Since July 2019 there have been just under 20 sales of properties in excess of 200 hectares throughout the Walcha, Uralla, Armidale and Uralla shires, with some additional sales yet to be settled.
The HTW report found that, whilst the number of overall sales is lower compared to the previous financial year, the median price per hectare continues to rise.
“We feel this is a combination of the increased demand from local landholders and neighbours expanding and the lack of listings leading to increased competition,” the firm concluded.
“It is too early to predict what impact [COVID-19] will have on the rural market and our team will continue to monitor the rural market and report any relevant observations on the rural sector and market over the next six to 12 months.”
The full Herron Todd White 'Month-in-Review' for April can be read<a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank"> here.</a>
 
Note regarding COVID-19:
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
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