Market Update & This Week’s Featured Development Sites - VIC, NSW & QLD

Posted by Development Ready on Sep 02, 2016

With September marking the official commencement of the Spring season, activity throughout both the residential and commercial property sectors along the Eastern seaboard continues to flourish, especially given relative political stability, the threat of capital gains adjustments thwarted and strong levels of effective demand throughout the marketplace.

From our perspective, the level of buyer engagement for small to medium townhouse sites remains particularly strong, with properties between 10-40km from metropolitan area’s seemingly the most popular amongst buyers.

A number of high-profile projects comprising between 50-100+ apartments have recently been listed, with enquiries to these sites originating from both national and international firms - significantly, we have noticed an increase in interest from managed funds and investment syndicates.

In line with changes that have occurred over the past twelve to twenty-four months, a number of projects have been amended from purely residential offerings to either mixed use in the form of hotel / residential, or commercial / residential - a push toward projects geared specifically toward the owner-occupier market has also occurred.

This week’s recent development site opportunities include:

VICTORIA:

101 Salmon Street, Port Melbourne

Permit Approved: Mixed-Use 12 Level Building

Land Size: 3,287 sqm*

Listing Agency: JLL Melbourne

201 Ballarat Road, Footscray

Permit Approved: 7 Level Complex Inc. 36 Apartments

Land Size: 700 sqm*

Listing Agency: Trimson Partners - Melbourne

11 Clarendon Street, Thornbury

Permit Approved: 4 Luxury Townhouses