For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Townsville

Heran Building Group has introduced their luxury four-bedroom townhomes in Burdell, North Shore Residences.

&ldquo;North Shore is a place where a better lifestyle comes naturally, where neighbours know each other by name and the daily essentials are already just moments from your doorstep&rdquo;, the developers said.

Located in a growing Townsville suburb, Burdell is increasingly in demand due to its reputation as a safe, friendly and conveniently located area.

Priced from $372,900, each four-bedroom home features two bathrooms, double lock-up garages, and a modern kitchen with&nbsp;stone benchtops and&nbsp;European appliances, including a stainless-steel multifunction oven, cook-top, rangehood and stainless-steel dishwasher.

[smartcode_project:default project_id=106962 project_image_fid=170457]

Each townhome has a&nbsp;fully-fenced private yard.

Within the development is a communal&nbsp;swimming pool and ample visitor parking.

Ducted air-conditioning is built into the homes, as are&nbsp;roller blinds and venetians.

Only 15 minutes to the Townsville CBD, North Shore is cleverly positioned for strong ongoing demand thanks to its proximity to important hubs including employment, education, major shopping, arterial roads, and public transport.

Burdell feeds directly into the growing employment node of Townsville and surrounding suburbs via Woolcock St.

[smartcode_project:default project_id=106962 project_image_fid=170458]

The A1 is also only minutes away, providing easy access to all employment locations in the greater Townsville areas.

According to the developers, the expected rental return is approximately $290 to $380 per week, boasting rental yields of 4.37 per cent to 5.52 per cent per annum

The home is located in an evolving location, with two new shopping centres nearby, including North Shore Shopping Centre and the Stockland Townsville Shopping Centre, and the Townsville Grammar School.

Surrounding suburbs also offer a diverse range of amenities from medical, health, retail services and casual dining and takeaway options

Construction on the project began in May, due to reach completion in late 2021.

[smartcode_project_cta: project_id=106962]

Located in a growing Townsville suburb, Burdell is increasingly in demand due to its reputation as a safe, friendly and conveniently located area. 

max.kwok_55688

Brand new four-bedroom Townsville townhomes from $372,900

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Most people jump into markets when they hear they’re booming. Few will buy in a down market, with an eye to the future.
They’ll wait until a newspaper report tells them prices have jumped in the past year, which means they’re too late to maximise the best opportunities to buy well.
Perth is the most depressed of the capital city markets and buyers are staying away in droves. The real estate industry is working hard to talk up the market, claiming buyers should dive in before prices rise. Such claims are among real estate’s greatest clichés, but they will be right in the not too distant future – at the right time Perth will represent great buying, after 3-4 years of falling prices. But most won’t make a move until they read there’s a new boom on.
Another example of this conundrum is provided by Townsville. The North Queensland city has had a lot of negative publicity recently and you wouldn’t buy there on the current numbers.
But I rate locations on their future prospects, often in defiance of the current situation, to alert investors to areas poised for growth. Townsville is a classic case.
It’s among the sturdiest regional economies in Australia. I rate economic diversity and Townsville has more than most regional centres, with strong elements of government admin, education, defence, resources, health, tourism and manufacturing – plus an export port.
Its property market had a run of strong annual growth up to 2011 – and, after decline in the past few years, is ready to resume its forward progress. Its comeback will be boosted by major events, including retail projects, CBD commercial and infrastructure spending. It is also receiving economic impetus from the expansion of its military economy and will benefit from the $22 billion Adani mining project.
Townsville is forecast to be one of Australia’s fastest-growing cities, reaching a population of 340,000 by 2050, according to demographer Bernard Salt in a 2015 report.
Townsville has over 100 education facilities, including the James Cook University, where around 12,000 students are enrolled.
It’s close to the Barrier Reef and tourism is a big industry. The city received 1.2 million domestic visitors in the year to September 2016, injecting $925 million (up 35 percent on the previous year). Around 12,000 cruise ship passengers visit Townsville each year and, following a Cruise Ship Terminal upgrade, larger numbers are expected in the future.
Trade through the Port of Townsville often tops one million tonnes per month and it is now Queensland’s third largest port. Examples of the port’s growth include an $85 million export facility opened by Glencore in 2015 and Puma Energy’s $150 million fuel import terminal.
The Townsville house market was one of the strongest among the Queensland regional cities over the five years to 2011, with median prices rising 50 percent. In recent years, there have been few signs of growth and many suburbs remain in decline as a result of recent economic reversals.
News of Clive Palmer’s nickel refinery closing in 2016 has not helped the market.
But Hotspotting expects an economic revival in 2017 and better results in the property market, a sentiment shared by Herron Todd White. In the October 2016 edition of its In Focus report, HTW said conditions in the residential market were starting to stabilise.
A core problem for Townsville has been oversupply, bringing an adjustment in rents. Despite that, yields remain attractive and are generally in the 5-6 percent range for houses. Some of the unit markets have median yields close to 7 percent.
So it’s a good time to consider Townsville as it gears for a growth phase. Job-generating projects are set to get under way in 2017, headed by a $1.9 billion CBD makeover. The Townsville City Waterfront Priority Development Area plan is designed to create a modern city space where 30,000 people are expected to be living and working in the CBD by 2030.
New developments will include bars, restaurants and shops. This will also be the site of a sports stadium, convention centre, arts precinct and a redevelopment of the North Yards railway sheds.
Townsville will thrive on the Adani coal project, which will have its HQ in Townsville, if the miner’s undertakings are kept. But nothing is certain in the resources sector and Townsvillemay have to fight to maximise the benefits because other regional cities can sniff the opportunities. Hence this headline in the local paper on 10 February: “Townsville declares war on Rocky.”
In a story on the front page of the Townsville Bulletin, Townsville Mayor Jenny Hill said the gloves were off in beating out other regional cities for Adani's FIFO hub.
Townsville is likely to benefit from other mining activity in Central Queensland, despite being hundreds of kilometres from the mine sites, in many cases. As one example of how major mining companies approach staffing these days, reports suggest BHP Billiton “has turned to Townsville locals to fill 200 fly-in, fly-out jobs in the Bowen Basin”.
There are 270 jobs on offer at the company’s Peak Downs and Saraji mines near Moranbah and a spokesman for BHP Billiton Mitsubishi Alliance (BMA) says they are advertising FIFO roles from Townsville.
Townsville is also likely to benefit from plans for Singaporean Armed Forces to train at Shoalwater Bay Training Area and Townsville Field Training Area. Up to 14,000 Singapore personnel will conduct unilateral army training for up to 18 weeks a year by 2021. Land will be used for tank training and $300 million will be spent on new facilities. This is the plan that became contentious recently when rural landholders claimed their properties would be forcibly resumed to make way for the military manoeuvres.
Then there’s a $225 million solar farm planned in the Upper Ross, with the project attracting federal funding and a solar power purchase agreement reported to be the biggest in the country. Under a 13-year contract, EnergyAustralia will buy 80 per cent of the electricity generated by the 142MW facility, enough power for 52,000 homes.
With so many large-scale projects in its future, Townsville is poised to return to growth and tuned-in investors will be looking around for opportunities.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

Tuned in investors turning towards Townsville

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It’s a marvel that Australia has any regional cities left.
Every time there’s a major (and sometimes relatively minor) business reversal, media declares the death of the local economy and often the collapse the local property market.
Legendary author Mark Twain could have been speaking for Newcastle, Wollongong, Geelong and many other regional cities when he said that “the reports of my death have been greatly exaggerated”.
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”.
Admittedly some of the dire forecasts have been sourced from sacked workers who were understandably emotional.
But beyond the unfortunate impacts on the affected families, the downsizing of the Queensland Nickel business is not a catastrophe for Townsville.
The northern Queensland city is one of Australia’s strongest regional economies. It has wonderful diversity, with a broad range of strong industry sectors providing employment and economic activity.
It has a major (and expanding) military presence, a massive government sector, a significant education industry, a busy tourism industry and various activities related to the resources sector, among others. 
Few Australian regional cities can match it for strength and diversity.
A couple of years from now the Queensland Nickel kerfuffle will be seen as a minor blip in the economic life of this very strong city.
Townsville is not the first regional economy to be declared terminal and it won’t be the last.
Last rites have been administered in recent years to both Wollongong and Geelong, which nevertheless remain very much alive and kicking.
Wollongong was proclaimed an impending basket case when Bluescope Steel announced some major downsizing in 2011. Media went overboard. I recall one headline predicting that property values would fall 50%.
But something quite different occurred. The Wollongong property market has recorded strong price growth in the years since, partly because it caught the wave from Sydney and partly because of positive events in the local economy. 
What the doomsayers overlooked when they over-reacted to the Bluescope Steel job cuts is that there are a lot of  other things happening in Wollongong besides the smokestack industries. Like many other regional cities, Wollongong has been busily reinventing itself and these days has strong industry sectors in education, IT and tourism, among others.
The gradual decline in employment at the steelworks has been going on since the 1970s. Back then, Bluescope Steel employed 27,000 people. Today it provides jobs to only 10% of that number. In the meantime, Wollongong has moved on and created new modern industries to sustain itself.
It’s doing just fine.
So is Geelong, although it should have shuffled off this mortal coil before now, in the wake of bad news about the Ford car plant and one or two other old-style industries. 
But, like Wollongong, Geelong isn’t a blue collar factory town any more. Its biggest employment sectors are eduction and health. The city is thriving as an affordable lifestyle alternative to Melbourne, to which it is now better connected since the completion of the $5 billion Regional Rail Link.
Major new enterprises are opening up in Geelong. One is the National Disability Insurance Scheme, which is being headquartered in Geelong and is attracting other enterprises that want to be located near it.
In real estate terms, Geelong is the strongest market in regional Victoria and I don’t expect that to change any time soon.
There are echoes in this situation also of Newcastle, which was expected to wither and die following the closure of BHP activities in the late 1990s. But check it out today and you’ll find a strong and vibrant city where spending on new infrastructure and property developments totals many billions of dollars. 
And so it will be with Townsville. I’m sure those 237 people who are losing their jobs are suffering (I’ve experienced retrenchment a couple of times in my life and it’s not pleasant) but Townsville as a community and as an economy will not be devastated. 
We’re talking 237 jobs in a city of 200,000 people. Even allowing for flow-on effects, Townsville’s future is as strong as ever.
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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Townsville economy will weather mining downturn: Terry Ryder

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The leading growth markets in Australia are now popping up in unexpected places.
Regional centres like Launceston and Townsville (above), as well as the affordable outer-ring precincts of our capital cities, dominate Hotspotting’s new National Top 10 list for municipalities with the highest number of growth suburbs.
This partly reflects the decrease in the number of rising markets in Sydney and Melbourne, with both the big cities still performing solidly but well past their peaks in terms of sales volumes. The attention is now shifting to other cities.
In the new Spring edition of The Price Predictor Index, the Moreton Bay Region in Brisbane’s north is the No.1 LGA in Australia for growth markets, having overtaken the Sunshine Coast. 
Moreton Bay LGA has 14 suburbs with upwardly-mobile markets, with buyers attracted by affordable prices, infrastructure and jobs nodes. Growth areas include Caboolture, Burpengary, Arana Hills, Bongaree, Deception Bay, Bray Park, Woorim and Warner. 
Morayfield is a key market, with sales around 170 per quarter, compared to 120-130 two years ago.
The Sunshine Coast LGA continues to feature strongly. It has 12 growth suburbs, while the neighbouring Noosa LGA has four. Growth stars include Coolum Beach where quarterly sales are up from around 70 to above 100. Caloundra and nearby Golden Beach are also thriving.
The Adelaide market gets very little national attention but it’s showing considerable resilience and there is growth potential in specific precincts. The Marion LGA in Adelaide’s south-west is the leading market in the South Australia capital, having lifted the number of growth suburbs in each of the past three quarterly surveys.
The Marion LGA, a middle-market area of Adelaide, now has nine rising suburbs, including Oaklands Park (median house price $470,000) which has lifted sales from 18 to 24 to 29 to 30 to 37 to 41 in the past six quarters. Other growth suburbs include Sheidow Park, Clovelly Park, Dover Gardens, Edwardstown and Glengowrie.
The Hobart market has captured national attention as homes sell quickly, rents rise at rates above the national average and price growth challenges the major cities. Within the Hobart metro area, the Clarence LGA is the market leader, although growth suburbs are spread across the city. 
Clarence, on the opposite side of the Derwent from the CBD, includes growth suburbs such as Geilston Bay, Bellerive, Lindisfarne, Rokeby, Risdon Vale and Warrane.
Launceston markets continue to grow in strength, but tend to be overlooked because of growing national focus on results in Hobart. Tasmania’s No.2 city has eight suburbs with growth markets, while the nearby West Tamar LGA has three. Affordable Invermay (median house price $230,000) typifies the growth in this region. Its sales levels have grown from 19 to 22 to 24 to 29 to 34 to 37 in the past six quarters, while sales in South Launceston have risen from 20 to 29 to 34 to 47 to 51.
Townsville in North Queensland is one of the nation’s comeback markets. It is showing increasing signs of recovery from years in which the usually-strong local economy struggled, thanks to the downturn in the resources sector and the closure of the city’s nickel refinery. 
The growing evidence of a revival is likely to gather pace as major events (such as the location of the headquarters for the $20 billion Adani mining project) start to take shape. On the back of improving economic prospects, Townsville now has six suburbs with rising markets. 
Perth too is mounting a comeback after four years in a slump and regions in the north of the metro area are leading the fightback. The Wanneroo LGA is  featuring strongly; it has six suburbs with growing sales activity - remarkable when you consider that the entire Perth metro area had zero growth suburbs only nine months ago. 
The growth markets include Alkimos, Carramar, Clarkson and Hocking. The Wanneroo LGA is the fast-growing municipality in WA and includes several new growth suburbs. As is often the case in such areas, vacancies are high in some postcodes but this will change as demand continues to grow. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au" target="_blank">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Leading growth markets popping up in unexpected places: Terry Ryder

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The largest CBD freehold, mixed-used development site with holding income, is set to hit the market in the coming weeks.
Colliers International in conjunction with CBRE are selling this significant holding known as the South Yards precinct, on behalf of Honeycombes Property Group who are one of Queensland’s largest private developers. The 17.2ha site is on the edge of the Townsville CBD and will become an extension of the city once fully developed.
Adjacent to the new $300 million, 25,000 seat Queensland Country Bank Stadium, the purchaser will have the opportunity to masterplan the site and develop a mixed-use precinct, capitalising on the growth underway in North Queensland.
The South Yards precinct has a holding income of more than $870,000 per annum; a rarity for large-scale development sites.
“The South Yards site is intended to be the natural expansion of the Townsville CBD and represents a huge opportunity for a forward-thinking investor, developer or land banker,” said Samuel Biggins, Director, Investment Services at Colliers International. 
“Notable comparisons can be drawn to renowned urban renewal projects such as Brisbane’s James Street and Southbank precincts; Lend Lease’s Barangaroo project and Docklands in Melbourne.” 
Neville Smith, Associate Director, Townsville at Colliers International said “Townsville is the economic, administrative, educational and defensive hub of Northern Australia, with over $12 billion in infrastructure projects currently underway.  
“The city enjoys a diversified economy supported by several sectors including the Australian Defence Force; prominent higher education institutions such as James Cook University and State and Federal government bodies including the Australian Tax Office and Queensland Government Regional Headquarters.  
This major land holding is of the same size as Townville’s existing core CBD with an anticipated development standard already set with the grandeur of the new Stadium precinct opposite
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Townsville’s most strategic land holding is on the market 

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Anecdotal evidence suggests that the supply of new stock being brought to Townsville market remains low as potential sellers hold off listing properties in the current environment, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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"We are continuing to see sales occur, albeit at lower volumes compared to pre-COVID-19 and to date value levels appear to be holding," the valuation firm said. 
The report states over the past 12 months there has been a noticeable increase in the number of house flippers in the market, typically operating within the five to eight kilometre radius of the city centre in suburbs such as Railway Estate, Currajong and Gulliver.
 The buy in price for homes with renovation potential in these areas is typically in the low $200,000s with end values created in the high $200,000s to mid $300,000s depending on the extent and quality of the works undertaken.
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"The rise in popularity of lifestyle home renovation shows such as House Rules and The Block are also contributing to the increase in renovation projects being undertaken by home owners," the valuation firm said.
The reason behind this increase could be contributed in part to the change-over cost from their current home to an upgraded property, the report suggested. 
Furthermore, location seems to be a factor in the decision to renovate. Owners not wanting to take a gamble on location by moving are opting to stay where they are and renovate to accommodate their changing circumstances.
"Apart from upgrades to kitchens and bathrooms, we are seeing decks and outdoor living spaces added and house extensions to create more living space and utility," the valuation firm said. 
"The renovator market is likely to continue tracking on its current course during 2020 with the cost of borrowing remaining low and a preference from buyers at this time for renovated properties requiring little work with the age old saying of 'I’d rather be opening a can of beer (or bottle of wine), than a can of paint' ringing true," the valuation firm said. 
A renovated Queenslander cottage in South Townsville has recently been sold for $330,000.
The <a href="https://www.realestate.com.au/sold/property-house-qld-south+townsville-133215230" target="_blank">36 Nelson Street</a> home (pictured below) comprises three bedrooms, functional kitchen, study and expansive undercover patio area. 
It features renovated bathroom, split air-conditioning and electric controlled gate. 
<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/2020/6/29/south%20townsville%20.jpg" alt="">
 
A current listing is a three bedroom house in Railway Estate. 
The <a href="https://www.realestate.com.au/property-house-qld-railway+estate-133779006" target="_blank">71 Ninth Avenue</a> home (pictured below) comes with refurbished kitchen, renovated bathroom, open plan living and three generous bedrooms. 
It also features fresher painted interior and exterior, rumpus room, and traditional features including high ceilings and light timber floorboards. 
<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/2020/6/29/railway%20estate.jpg" alt="">
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Townsville renovators prefer properties requiring little work: HTW residential 

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Jobs and job security are major drivers of our local property market with both of these currently heading in the right direction prior to COVID-19 directives, according to a recent Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
"Over the twelve months since January 2019, we have seen a trend increase of 7.1 percent in the number of persons employed in the Townsville region. 
"Our unemployment rate is on a downward trend and the higher levels of business confidence and strong rates of job advertising being observed bode well for continued strength in employment creation in the coming months," the valuation firm said. 
"We have a strong pipeline of projects proposed to commence in 2020 or currently underway, with completion of the North Queensland Stadium and its hosting of events now a reality." 
The report suggests this is providing a positive driver along with other proposed inner city projects such as the SeaLink ferry terminal, the Cowboys Centre of Excellence and the 166-room Double Tree by Hilton hotel.
Detached housing in inner suburbs such as Belgian Gardens, North Ward and South Townsville in close proximity to entertainment and lifestyle hubs are seeing sales rates quickening and selling periods reducing. Sales however are still price sensitive and price movements thus far have been minimal.
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"We are however entering a period of unprecedented global economic disruption with COVID-19. Just how this will translate in our local market in terms of jobs and job security will be a major indicator to watch over the months ahead." 
A beachside unit in North Ward has recently been sold for $290,000.
The <a href="https://www.realestate.com.au/sold/property-unit-qld-north+ward-133163758" target="_blank">11/177 Mitchell Street</a> home (pictured below) comprises two bedrooms, two bathrooms, multiple balconies and secure car space. 
The complex features resort-style pool and entertaining area. 
<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/2020/5/25/north%20yard.jpg" alt="">
A current listing is a traditional Queensland cottage in South Townsville priced at $335,000.
The two bedroom, one bathroom is situated at <a href="https://www.realestate.com.au/property-house-qld-south+townsville-133146638" target="_blank">12 Sixth Avenue</a> (pictured below).
Positioned on a 721sqm block, it comes with modern kitchen, front veranda, internal laundry and huge yard. 
<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/2020/5/25/south%20townsville.jpg" alt="">
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<div>Note regards COVID-19</div>
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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. 
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<div>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.</div>
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How will COVID-19 pandemic transform Townsville property market: HTW residential 

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A major Townsville commercial office building has been acquired by Independent fund manager Castlerock, in the largest commercial office transaction in Far North Queensland.
The Melbourne-based group secured the State Government tenanted 445 Flinders Street in a deal brokered by Colliers for $92,855,000 million.
The deal represents a yield of 6.9 per cent on the passing income.
Settlement was pushed forward two months to the end of March due to a faster than expected influx of investors targeting long-term sustainable assets with strong and stable leases, according to the agents.
Castlerock director, Adam Bronts, said it was the company’s largest transaction to date and reflected a strategy to start moving into bigger transactions.
The purchase comes 18 months after Castlerock acquired 44 Nelson Street in Mackay for $52.4 million, again in a deal brokered by Colliers.
Both buildings are tenanted long-term by the Queensland Government.
“The purchase of Flinders Street in Townsville is our largest asset acquired to date and confirms our approach to purchasing long-term sustainable assets with long-term government tenants,” said Mr Bronts.
“It is a significant building in the city and a fantastic asset for our investors.”
445 Flinders Street acts as the region’s primary State Government headquarters and is 89 per cent leased to the government until September 2028, with a five-year lease renewal option.
Designed by ML Design, it is classified as an A-grade building comprising 11,383 square metres of floorspace across nine levels and offering the largest column-free floorplates in the local market.
It includes an additional 252 square metres of retail at ground level and three-level podium carpark accommodating 195 parking bays that offer Townsville’s best carparking ratio of 1:60.
It is occupied by the Department of Transport and Main Roads, the Department of Natural Resources and Mines and the Department of Health and Education.
The building also houses the Queensland Government’s North Queensland Recovery Centre, which because of its critical nature, has been highly specified and is able to operate without power or water for up to five days. Designed and built to an Importance Level Four classification, it can operate in the event of a natural disaster.
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Government-occupied Townsville office building sold in record deal

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Townsville agent Julie Mahoney not only conducted her first online auction but also managed to become the first Townsville office to sell property via online platform.
Two properties were snapped up on Monday night, 7 Townsend St, Mysterton (pictured above) sold for $450,000 and 116-118 Martinez Avenue, West End went for $545,000.
Office principal and selling agent Julie Mahoney said the auctions drew a large range of bidders including locals, those from interstate and even a few international viewers translating to some great results on the night.
Ms Mahoney said, "most of the bidders were local but the demographic was quite interesting."
“We had bidders who were aged from 70 plus online and one of my vendors who will be auctioning later in the month watched from England."
A local first home buyer couple were the winning bidders on 7 Townsend St, Mysterton which they said was the first auction they’ve participated in.
“We were very nervous, however it was an easier process than what we thought it was going to be and not being able to see the competition actually made it easier,” they said.
The couple had been looking for several months and the four bedroom home was exactly what they were after.
Calling the auctions was Ray White Queensland chief auctioneer Mitch Peereboom who said he is thrilled to see both buyers and sellers embracing the new technology.
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Townsville's first successful online auction sale

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The retail market in Townsville during 2020 is likely to maintain its status quo with the greater economic climate in the retail sector making for tough conditions, according to the latest report from valuation firm Herron Todd White.
“Generally speaking, we are seeing a firming in yields in the broader retail sector, however there appears to be limited potential for rental growth in the current environment and a higher risk of increasing vacancies on the back of looming lease expiries with no current commitment to re-lease,” said the March report.
“Ageing neighbourhood centres with a single anchor tenant will likely present a higher risk due to capital expenditure requirements and cash flow volatility.”
The potential for redevelopment of these centres in the current market is also limited.
The firm ultimately concluded that the smaller sub-neighbourhood centres offering a mix of fast food and drive through options are likely to remain the retail flavour during 2020.
 
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