<p>ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;</p>

<p>The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.</p>

<p>The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.</p>

<p>&nbsp;</p>

<p><img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" /></p>

<p>&nbsp;</p>

<p>There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.</p>

<p>Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.</p>

<p>Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.</p>

<p>A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.</p>

<p>“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.</p>

<p><img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" /></p>

<p>The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.</p>

<p>Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.</p>

<p>Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.</p>

<p>Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.</p>


Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

<p>Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.</p>

<p>The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5481]</p>

<p>The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.</p>

<p>Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.</p>

<p>"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;</p>

<p>The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.</p>

<p>“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5485]</p>

<p>Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;</p>

<p>Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.</p>

<p>The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;</p>

<p>A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5488]</p>

<p>BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;</p>

<p>Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.</p>

<p>Williams said the team spent over a year searching for the ideal site before securing this location.</p>

<p>"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”</p>

<p>The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.</p>

<p>Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.</p>

<p>[smartcode_project_cta:default project_id=136432]</p>


BANKSII sales launch in booming East Brisbane apartment market

<p>The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.</p>

<p>Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.</p>

<p>Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.</p>

<p>The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.</p>

<p>To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.</p>

<p>Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.</p>

<p>The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.</p>

<p>The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.</p>

<p>Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.</p>

<p>The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
<p>Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.</p>

<p>They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.</p>

<p>The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.</p>
</section>

<section data-element_type="section" data-id="534a164">
<p>Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;</p>

<p>Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.</p>

<p>“Melbourne is regaining momentum,"&nbsp;Stevens said.</p>

<p>"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.</p>

<p>“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."</p>

<p><img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" /></p>

<p>Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.</p>

<p>Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.</p>

<p>“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”</p>

<p>Kokoda Property will now progress concept design ahead of a future planning process.</p>
</section>


Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

<p data-end="445" data-start="321">Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.</p>

<p data-end="675" data-start="447">In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.</p>

<p data-end="772" data-start="677">“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.</p>

<p data-end="901" data-start="774">"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="973" data-start="903">[smartcode_project:default project_id=108747 project_image_fid=193023]</p>

<p data-end="1158" data-start="975">Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.</p>

<p data-end="1397" data-start="1160">Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.</p>

<p data-end="1469" data-start="1399">[smartcode_project:default project_id=108747 project_image_fid=284864]</p>

<p data-end="1786" data-start="1471">Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.</p>

<p data-end="1952" data-start="1788">Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.</p>

<p data-end="2008" data-start="1954">"This is paramount in the current market," Pezet says.</p>

<p data-end="2279" data-start="2010">Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.</p>

<p data-end="2351" data-start="2281">[smartcode_project:default project_id=108747 project_image_fid=190743]</p>

<p data-end="2428" data-start="2353">One of the biggest drawcards to Lagoon has been the size of the apartments.</p>

<p data-end="2567" data-start="2430">"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.</p>

<p data-end="2850" data-start="2569">"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="2907" data-start="2852">Lagoon is set to complete construction in mid-2026.</p>

<p data-end="2958" data-start="2909">[smartcode_project_cta:default project_id=108747]</p>


Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Warrnambool

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<p>Warrnambool is considered an ideal area for young buyers who want to develop a vacant parcel of land, according to HTW’s <em>Month in Review: March 2017</em>. </p>
<p>The valuation firm says the newly developed areas of North Warrnambool, Dennington and West Warrnambool are saturated with an oversupply of vacant land and would appeal to both investors and owner-occupiers.</p>
<p>“The median house price in Warrnambool has had little growth over the past five years, so first time buyers shouldn’t have to worry about rapid growth and getting into the market in comparison to larger metropolitan areas,” the report says.</p>
<p>“First time buyers looking at the Warrnambool market should focus on saving a deposit and weighting for the right property for them to purchase.</p>
<p>“Their focus should be on saving a larger deposit and reducing their repayments once they make their purchase.”</p>
<p>A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-warrnambool-124898458" target="_blank">1/4 Wickham Court</a>, Warrnambool (above) has been listed for $220,000, having last trade for $86,500 in 2002.</p>
<p>Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-warrnambool-117543048" target="_blank">147 Whites Road</a>, Warrnambool (below) has been listed for over $349,990.</p>
<p><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/2017/03/15/147%20Whites%20Road.jpg" alt=""></p>
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jonathanchancellor-7SQnKwU6yx

Oversupply of land benefiting Warrnambool first home buyers

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<p>The prestige property market in the Warrnambool area is a highly limited segment, not just in terms of the volume of sales but of properties meeting the definition of prestige, according to the November report from valuation firm Herron Todd White.</p>
<p>HTW found that the most notable and recent example of a high priced sale is that of The Breakers at 1 Ocean Drive, Port Fairy (pictured).</p>
<p>Selling at $3.4 million back in December 2019, the property features a modern four-bedroom, four-bathroom dwelling sited on a 1,700 square metre allotment with unparalleled ocean access and views.</p>
<p>By just giving one example of a single 2019 sale shows how stifled this market segment is.</p>
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j.ballantyne1990-6AQqhLzZaK

Warrnambool prestige market remains limited: HTW

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<p><span>Investor activity in Warrnambool is currently strong and is forecast to stay strong into the long term, according to the August Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm took a look at investor activity across the nation. </span></p>
<p><span>"Having been crowned Australia’s most liveable region by Ipsos’s annual </span><span>Life in Metropolitan and Regional Australia </span><span>report and offering affordable entry into the investment space, especially when compared to other major regional centres, Warrnambool has great prospects moving forward," the valuation firm said. </span></p>
<p><span>Warrnambool provides a bevy of potential investment opportunities, the report suggests. </span></p>
<p><span>Opportunities range from large scale land subdivisions, city infill, renovate and flip, short stay accommodation as well as the relatively affordable new land and house depreciation path. </span></p>
<p><span>"While larger scale development and investment remains dominated by out of town money, the overall investment landscape is still in favour of the local," the valuation firm said. </span></p>
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<p><span>Most recently, Warrnambool has seen a strong investment drive for the acquisition of larger allotments vacant or featuring older, low quality dwellings, the report suggests. </span></p>
<p><span><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/2020/9/7/warrnambool%201.jpg" alt=""></span></p>
<p>A prime example of this is the centrally located <a href="https://www.realestate.com.au/sold/property-house-vic-warrnambool-132326478" target="_blank">53E Lava Street, Warrnambool</a> (pictured above).</p>
<p><span>It was sold for $442,500 on 13 December 2019. </span></p>
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<p><span>Set on approximately 888 square metres and comprising two titles, this property also featured an older, conite clad, two-bedroom dwelling providing a very basic standard of accommodation.</span></p>
<p><span>Also representative of this demand is 212 Merri Street, Warrnambool ($400,000 on 18 May 2020). </span></p>
<p><span>This property is situated opposite the Warrnambool train station and features a two-bedroom dwelling of average condition set on an allotment of approximately 1,541 square metres.</span></p>
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Warrnambool investor activity to stay strong: HTW residential 

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<p>Values within the Warrnambool market are yet to display any decline due to the impact of COVID-19, according to the July Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.</p>
<p><span>The report notes confidence across the purchaser landscape remains solid; whether this remains the case in three months’ time is open for discussion.</span></p>
<p><span>"Demand in this price sector was considered to be on a slight upward trend pre-COVID-19 and we predict that trend to continue moving forward should the COVID-19 recovery come quickly and completely," the valuation firm said. </span></p>
<p><span>Premier central Warrnambool properties, particularly those with heritage stylings and some level of updated interior, are very much excluded from the $700,000 price range. </span></p>
<p><span>The buy-in for entry level property in this location starts at $750,000, the report noted. </span></p>
<p><span>"A great example of what you get at the premier entry level is 9 Victoria Street, Warrnambool, VIC, 3280 (pictured below)," the valuation firm said. </span></p>
<p>Three bedrooms, one bathroom, detached two-car garage on an 800 square metre allotment.</p>
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<p><span>Situated one block removed from city centre. Very basic level of fit-out with fantastic heritage features.</span></p>
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<p><span>Moving ever so slightly away from the premier locations, potential buyers will start to see a number of options develop.</span></p>
<p><span>It’s here, still centrally located (within one kilometre of the CBD and beach) that buyers will find high quality townhouses, renovated heritage dwellings and properties with further development or value adding potential start to become available in the $600,000 to $700,000 range, the report noted. </span></p>
<p><span>For those with a vision and greasy elbows, look no further than 90 Skene Street, Warrnambool (pictured below).</span></p>
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<p><span>A circa 1880 weatherboard dwelling requiring a whole lot of work situated on a 2,100 square metre allotment. </span></p>
<p><span>While the amount of renovation work required can’t be overstated, the dwelling does feature distant ocean glimpses through the Norfolk pines.</span></p>
<p><span> <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/2020/8/14/warrnambool%202.jpg" alt=""></span> </p>
<p><span>"There’s great potential for value adding with property such as this around Warrnambool," the valuation firm said. </span></p>
<p><span>The report notes buyers interested in something with a little more room to move can find larger sized property (4,000 plus square metres) in Warrnambool’s surrounding lifstyle areas. </span></p>
<p>5 Elizabeth Street, Allansford, VIC, 3277 (pictured below). </p>
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<p><span>Set on one acre, ten minutes from Warrnambool in the smaller satellite township of Allansford, this property features a standard quality, modern style brick dwelling of approximately 240 square metres. </span></p>
<p><span>Beyond the dwelling, the property is improved with a six bay workshop and large store shed.</span></p>
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<p><span>"As mentioned above, if you had this kind of money to invest within the region’s property market, then you have the opportunity to purchase within most market segments, from a large, centrally located character dwelling to a rural living style property on the outskirts of town," the valuation firm said. </span></p>
<p><span>Properties within this price range are generally owner-occupied and we don’t see many of them offered for rent.</span></p>
<p><span>"Demand in this price sector has remained relatively steady over the past few years and we predict that it will continue to remain this way over the next 12 months.</span></p>
<p><span>"However, with the impact of COVID-19 on the property market still unclear, it is difficult to make any predictions with confidence." </span></p>
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What a lazy $700,000 can buy in Warrnambool: HTW residential 

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<p>A home at Warrnambool on Victoria’s southern coastline has just sold.</p>
<p>While the sale figure is undisclosed, it was advertised with a price guide of between $1.82 million and $2 million.</p>
<p>It was sold by Ian Baudinette from Harris &amp; Wood Real Estate,</p>
<p>It is a 2.5-hectare beachside block occupied by a four-bedroom house <a href="https://www.domain.com.au/9-logans-beach-road-warrnambool-vic-3280-2014292593" target="_blank">located at 9 Logans Beach Road, Warrnambool</a>.</p>
<p>The house comes with four bedrooms, four separate living areas, spa bathroom, updated kitchen with stone bench tops and double garage. </p>
<p><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/2018/6/12/WARRANAMBOOL%201.jpg" alt=""></p>
<p>It also features ocean views, stunning Northerly aspects and direct access to the beach.</p>
<p>This is the only property west of the whale viewing platform with a high water mark title.</p>
<p>The suburb's median house price sits on<a href="https://www.domain.com.au/9-logans-beach-road-warrnambool-vic-3280-2014292593" target="_blank"> $329,000</a>, according to CoreLogic. </p>
<p><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/2018/6/12/WARRANAMBOOL%203.jpg" alt=""></p>
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Seaside Warrnambool trophy home with high water mark title sold

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<p>Warrnambool’s residential market is somewhat removed from the affordability issues which dominate the metropolitan markets, the valuation firm Herron Todd White recently noted.</p>
<p>First home buyers there are currently operating in the $300,000 to $400,000 price range.</p>
<p>However, a recent trend is for first home buyers looking for a house and land package.</p>
<p>"This is on the back of recent government incentives that offer stamp duty exemptions and construction allowances for properties built within regional areas," HTW said in its report.</p>
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<p>Demand from home buyers remains focused on traditional detached housing. </p>
<p>"The great Australian dream of home ownership is alive and well in Warrnambool. This is due to the continuing release of new residential land supply on the city’s extremities, a steady median price as well as the existing low-cost, affordable pockets in area such as Dennington and North Warrnambool." </p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-dennington-123536578" target="_blank">24 Nina Street</a> (picture above) sold for $329,900 earlier this year.</p>
<p>Another three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-warrnambool-125653970" target="_blank">25 Rawlings Drive, Warrnambool</a> sold (below) for $395,000 in August.</p>
<p><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/2017/11/15/Warrnambool1.jpg" alt=""></p>
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Warrnambool first home buyers seeking out house and land opportunities

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<p>Warrnambool has had little growth in the median house price over the past six year period, according to HTW’s February 2017 update.</p>
<p>The valuation firm says the oversupply of vacant residential land within Warrnambool is believed to be haltering the growth.</p>
<p>“Similar to 2016, it’s expected that Central Warrnambool will remain the strongest performer in 2017, with high levels of demand and limited supply, driving the increase in capital and shortening of days on the market,” the report says.</p>
<p>HTW tips North Warrnambool and Dennington to remain the affordable pockets suited to first home buyers and families.</p>
<p>Alternatively, areas comprising 1950 to 1980 built dwellings, such as Merrivale and West Warrnambool, should be treated with caution, inspite of relatively good rental returns, the report says.</p>
<p>“Prestige real estate exceeding $750,000 is expected to continue to hold its value in 2017.</p>
<p>“Extended marketing periods generally apply in this sector, which is due to limited buyers.</p>
<p>“Agents however, report realistically priced properties are generating satisfactory interest and in some cases sell in relatively short time frames.”</p>
<p>At the average price of $317,500 a house such as the one at <a href="https://www.realestate.com.au/property-house-vic-warrnambool-124435794" target="_blank">6 George Avenue</a>, Warrnambool (above) can be bought.</p>
<p>Similarly at the average price of $250,000 a unit such as the one at <a href="https://www.realestate.com.au/property-unit-vic-warrnambool-124610422" target="_blank">2/70 Garden Street</a>, Warrnambool (below) can be purchased.</p>
<p><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/2017/02/15/2_70%20Garden%20Street.jpg" alt=""></p>
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