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Cessnock, in New South Wales’ Hunter Region, is a town 52 kilometres west of Newcastle.
According to the Australian Bureau of Statistics, the area had 50,840 residents as of 2011, with 20,901 homes. The area’s median weekly household income is $1,042, with median monthly mortgage repayments of $1,517.
Like other mining towns in the area, Cessnock has seen its primary industry, coal, largely move north. Other primary industries in the area include the wine industry, which in the Hunter Valley employs over 7,000 people, according to the Cessnock local government.
Tourism is another big industry for Cessnock, with the local government estimating that the Hunter Region’s wine tourism industry is worth $521 million, with subsequent investment and spending worth around $227 million. Finder.com.au <a href="/expert-insights/investing/the-top-10-holiday-hotspots-finder-com-au">listed Cessnock at the top</a> of its investment holiday hotspots list for houses this year, after the city showed the highest yield for houses of any of Tripadvisor's Top 10 Traveller's Choice Best Destinations in AUstralia. 
Facing a downturn in employment due to changes in the coal industry, the Cessnock local government is focussing on long-term, sustainable businesses to limit the area’s exposure to volatile industries.
Infrastructure investments, particularly transport links to nearby employment hubs like Newcastle, are hoped to attract businesses and residents to Cessnock. However, those infrastructure investments will come at a price, with Cessnock council rates to rise <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-06-04/resident-angry-over-rate-rise/5498710" target="_blank">9.55% permanently from 1 July</a>.
Some residents have taken a strong stance against other resource industries entering the area, with many, including the local government, refusing to support coal seam gas related activities in the region.
According to a 2013 study commissioned by the Valuer General of New South Wales, in New South Wales areas where coal seam gas mining occurred, there was no evidence of an impact on property prices. However, the report also stated that the poor availability of data limited the study’s conclusions.
The report also stated that “anecdotal evidence indicated that in some areas negative perceptions of CSG led to a reduction in the number of potential purchasers and an increase in the time taken to sell properties.”
Property Observer spoke to Australian Property Monitors’ senior economist, Andrew Wilson, about the area <a href="/news/nsw/suburb-spotlight-cessnock-over-2014">late last year</a>. He said the area had seen 4% price growth in the past year. 
“Given that there’s some dollar recovery in the resources sector, Cessnock will continue to be a reasonable performer into 2014,” he told Property Observer. <a href="/news/nsw/suburb-spotlight-cessnock-over-2014"></a>
Jurd Real Estate principal Alan Jurd said in November that the downturn in the mining sector had “taken the zing off [the property market] a little.” He also told Property Observer that vacancies were up, after a period of unsustainable rents.
He now says that the effects of the resources downturn on the rental market have started to filter through to the investment market.
“There was a bubble in the rental market, which wasn’t real,” says Jurd.
“There were some properties that were really inflated.
“A new four bedroom, double garage, 250 square metre home: at the peak of the market, you could get $500 or $600 for that. Four years ago, it was $400 a week.”
According to Jurd, now that the mining industry has moved on, as have work crews from the Hunter Expressway, vacancies are up.
A <a href="https://www.realestate.com.au/property-house-nsw-cessnock-413443651" target="_blank">new four bedroom home</a> at Cessnock’s Stonebridge Golf Estate, pictured below, is now available to rent for $400 per week.
<img src="/images/2014/06/26/cess.jpg" alt="">
Jurd says that some investors were lured in during the rental bubble by property spruikers, who advertised inflated yields. But he says that the area is a sound investment for those with realistic long term expectations.
According to Jurd, the new Hunter Expressway may deliver demand from Newcastle residents.
“The driving time to Newcastle is so much faster,” he says. “So we’re getting some interested from that area, which we never really had before.”
The median house price for the Hunter region is $268,000. For Cessnock, the median house price is $258,000.
 Feature picture courtesy of Ian Armstrong/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/2.0" target="_blank">Creative Commons</a>.
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jrichardson-uRX5hFdKfN

Suburb spotlight: Has Cessnock’s bubble burst?

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The residential towers at Sydney's One Central Park were voted the fifth best new skyscraper in the world by Emporis, a Hamburg-based building and construction data company.
The “international jury of architecture experts” selected buildings which had been completed in the last 12 months and were at least 100 metres tall, judging them according to “aesthetic and functional design criteria,” according to Emporis. A total of 300 high rise buildings were considered. 
First place went to London’s The Shard, the 87 storey tower which opened in February last year. The tallest building in the European Union, the Shard was designed by Italian architect Renzo Piano with Adamson Associates.
One Central Park was completed in December 2013. Designed by French architecture practice Jean Nouvel with Australian firm PTW, the skyscraper’s standout feature is its plant covered walls, which are set to reach full growth potential at the end of the year. 
PTW director Matt Dobbs said One Central Park was a “dream project to work on.”
“Collaborating with the likes of world renowned architect Jean Nouvel is a once-in-a-career opportunity,” he said.
The other major feature of the skyscraper is Nouvel’s signature cantilever – a suspended beam or structure jutting out from the main building, anchored at only one end. At One Central Park, the cantilever is the tower’s Sky Garden, which extends from level 29 of the East tower.
The Emporis Skyscraper award is now in its fourteenth year. Previous winners include London's 30 St Mary Axe ("the Gherkin" to some), the Kingdom Centre in Saudi Arabia's Riyadh and the Mode Gakuen Cocoon Tower in Tokyo.<a href="https://en.wikipedia.org/wiki/Mode_Gakuen_Cocoon_Tower" title="Mode Gakuen Cocoon Tower"> </a>
The top 10 skyscrapers of the last year, according to <a href="https://www.emporis.com/" target="_blank">Emporis</a>:
<ol>
<li>The Shard, UK <img src="/images/2014/05/22/The_Shard_during_its_opening_laser_light_show_2.jpg" alt=""> Source: Wikimedia Commons 
</li>
<li>DC Tower #1, Austria <img src="/images/2014/06/25/DC_Tower_1_September_2013.png" alt=""> Source: Wikimedia. 
</li>
<li>Sheraton Huzhou Hot Spring Resort, China <img src="/images/2014/06/25/Sheraton_Huzhou_Hot_Spring_Resort_exterior_night_view.jpg" alt=""> Source: Wikimedia. 
</li>
<li>Cayan Tower, United Arab Emirates <img src="/images/2014/06/25/infinity-ex-10.jpg" alt=""> Source: Supplied. 
</li>
<li>One Central Park, Australia <img src="/images/2014/05/22/Fraser05.jpg" alt=""> Source: Supplied. 
</li>
<li>Flame Towers, Azerbaijan <img src="/images/2014/06/25/Baku_Towers_43.jpg" alt=""> Source: wikiarquitectura. 
</li>
<li>Mercury City, Russia <img src="/images/2014/06/25/mercury-city-ine.jpg" alt=""> Source: Supplied. 
</li>
<li>Ardmore Residence, Singapore <img src="/images/2014/06/25/gallery_home_01.jpg" alt=""> Source: Supplied. 
</li>
<li>AZ Tower, Czech Republic <img src="/images/2014/06/25/Brno_tice_Prakova_AZ_Tower_2013-05-21_03.jpg" alt=""> Source: Wikimedia. 
</li>
<li>EQUAL: Nanfung Commercial, Hospitality and Exhibition Complex, China &amp; Tour Carpe Diem, France <img src="/images/2014/06/25/guangzhou-june25-one.jpg" alt=""> Nanfung Commercial, Hospitality and Exhibition Complex, China. Source: Hong Kong Institute of Architects <img src="/images/2014/06/25/Cot_esplanade.jpg" alt=""> Tour Carpe Diem, France. Source: Vincent4617/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">Creative Commons</a>.
</li>
</ol>
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Sydney’s One Central Park named one of the world’s best new skyscrapers

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Despite being Australia’s most popular travel destination, houses in the Sydney CBD have an median yield of just 3.33%, according to <a href="https://www.finder.com.au/" target="_blank">finder.com.au</a>.
Meanwhile, units Darwin, which is at the bottom of <a href="https://www.tripadvisor.com.au/TravelersChoice-Destinations" target="_blank">Tripadvisor’s Traveller’s Choice 2014 Top 10 Destinations</a>, have a median yield of 6.82%.
The comparison website analysed the country’s top 10 tourist destinations to see how their investment potential stacked up against their popularity with visitors. With a median CBD house price of $1.75 million and median rent per week of $1,120, the city’s estimated yield of 3.33% is the second-lowest of any city on the list.
Michelle Hutchison, finder.com.au Money Expert, says that popular holiday destinations present widely varied returns for property.
“It’s always nice to imagine what it would be like to own an investment property at your favourite holiday spot, but our findings revealed there can be a big difference between the value of return you can receive for the most popular holiday destinations,” said Hutchison.
“For instance, out of the top 10 most popular holiday destinations in Australia, some yields were less than half of others on the list, with yields ranging from 2.41 to 6.31% for houses and 5.33 to 7.77% for units.
“By doing your research on the most popular destinations and making an informed decision, property investors could be making more than twice the amount of yield per year.”
New South Wales’ Cessnock had the lowest median house price of any of the top 10 destinations on the list, returning the highest yield for houses at 6.31%. Port Douglas had the highest yields for units, with 7.77%.
“While holiday homes may be a good option for investment property owners, not knowing the yield of your potential property may leave you funding someone else's holiday instead of your own,” said Hutchison.
“So make sure you do your homework, compare locations based on potential returns and not just their popularity, and research investment home loans to ensure you get the biggest bang for your buck,” she said. 
Finder.com.au's top investment holiday hotspots: Houses
<ol>
<li><a href="/news">Cessnock</a>, New South Wales Median house price: $255,500 Median weekly rent: $310 Yield: 6.31% </li>
<li><a href="/news">Byron Bay</a>, New South Wales Median house price: $705,000 Median weekly rent: $670 Yield: 4.94% </li>
<li><a href="/news">Hobart</a>, Tasmania Median house price: $468,000 Median weekly rent: $435 Yield: 4.38% </li>
<li><a href="/news">Darwin</a>, Northern Territory Median house price: $903,500 Median weekly rent: $750 Yield: 4.32% </li>
<li><a href="/news">Brisbane</a>, Queensland Median house price: $959,000 Median weekly rent: $770 Yield: 4.18%  </li>
<li><a href="/news">Port Douglas</a>, Queensland Median house price: $500,000 Median weekly rent: $380 Yield: 3.39% </li>
<li><a href="/news">Airlie Beach</a>, Queensland Median house price: $667,000 Median weekly rent: $435 Yield: 3.39% </li>
<li><a href="/news">Melbourne</a>, Victoria Median house price: $993,500 Median weekly rent: $605 Yield: 3.37% </li>
<li><a href="/news">Sydney</a>, New South Wales Median house price: $1,175,000 Median weekly rent: $1,120 Yield: 3.33% </li>
<li>Canberra, Australian Capital Territory Median house price: $2,150,000 Median weekly rent: $995 Yield: 2.41% </li>
</ol>
This article continues on the next page.
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 Some of the cities with the highest yields for houses had the lowest yields for units.
The top investment holiday hotspots: Units
<ol>
<li>
<a href="/news">Port Douglas</a>, Queensland Median unit price: $184,000 Median weekly rent: $275 Yield: 7.77% 
</li>
<li>
<a href="/news">Darwin</a>, Northern Territory Median unit price: $510,500 Median weekly rent: $670 Yield: 6.82% 
</li>
<li>
<a href="/news">Brisbane</a>, Queensland Median unit price: $455,000 Median weekly rent: $570 Yield: 6.51% 
</li>
<li>
<a href="/news">Sydney</a>, New South Wales Median unit price: $598,000 Median weekly rent: $720 Yield: 6.26% 
</li>
<li>
<a href="/news">Airlie Beach</a>, Queensland Median unit price: $338,500 Median weekly rent: $405 Yield: 6.01% 
</li>
<li>
<a href="/news">Byron Bay</a>, New South Wales  Median unit price: $441,500 Median weekly rent: $510 Yield: 6.01% 
</li>
<li>Canberra, Australian Capital Territory Median unit price: $450,500 Median weekly rent: $510 Yield: 5.89% </li>
<li>
<a href="/news">Melbourne</a>, Victoria Median unit price: $414,500 Median weekly rent: $465 Yield: 5.83% 
</li>
<li>
<a href="/news">Cessnock</a>, New South Wales Median unit price: $259,500 Median weekly rent: $290 Yield: 5.81% 
</li>
<li>
<a href="/news">Hobart</a>, Tasmania Median unit price: $424,000 Median weekly rent: $435 Yield: 5.33%</li>
</ol>
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The top 10 holiday hotspots: Finder.com.au

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An adviser who operated in Sydney for more than 25 years has been banned from providing financial services and engaging in credit activities.
The Australian Securities and Investment Commission (ASIC) found that Nigel Keith Flowers, 49, of Coolangatta, Queensland, had engaged in dishonest conduct while acting as a financial adviser.
The veteran financial adviser who specialised in providing advice to the medical professionals was the director of Flowers Financial Group Pty Ltd, now in liquidation, and Flowers Financial Management Ptd Ltd, also in liquidation. Flowers Financial Management’s financial services license was cancelled in April last year.
Flowers raised $1.475 million in funds for a proposed initial public offering by Avior Australia Ltd from long term clients of Flowers Financial Management.
Between February 11 and March 2012, ASIC found that Flowers improperly paid out at least $720,332 from the trust account that held the funds, with at least $696,138 going to parties related to Flowers.
After the initial public offering was cancelled, Avior put $30,000 back into the trust account to be returned to investors. But Flowers again improperly disbursed funds, paying out at least $27,000 to parties related to him.
ASIC found that Flowers was not of good fame and character and not a fit and proper person to engage in credit activities.
ASIC Commissioner Greg Tanzer said that financial advisers were expected to act honestly.
“Dishonest conduct by financial advisers undermines confidence and trust in the financial services industry. ASIC regards these actions very seriously and will remove those who disregard the law” said Tanzer.
Flowers has the right to appeal the decision. 
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Financial advisor banned by ASIC after dishonest conduct

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Houses in Perth sold for a median price of $544,500 in the quarter to May, according to RP Data-Rismark.<a href="https://myrpdata.com" target="_blank"> </a>
Quarterly house prices dipped 0.8% from the month before.
Property Observer looks at recent sales in Perth to see what $544,500 will get you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-wa-yanchep-116276255" target="_blank">39 LONGFIN VISTA, YANCHEP</a> <img src="/images/2014/06/23/a.jpg" alt=""> This house was sold through Ray White Sun City for $545,000. All four bedrooms come with built in or walk in robes. The home was built by Scott Park in the outer Perth suburb of <a href="/news">Yanchep</a>’s Lagoon Estate development. Sharing the 659 square metre block is a self-contained brick granny flat. Price: $545,000 Bedrooms: Four Drive to CBD: One hour 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-victoria+park-115057519" target="_blank">51 Sunbury Road, Victoria Park</a> <img src="/images/2014/06/23/b.jpg" alt="">
A three bedroom home on a 300 metre strata block sold for $539,000 through Terry McBratney and Associates <a href="/news">Victoria Park</a>, who advertised the home as “in need of a renovation”. The vendors made a loss on the home, which they purchased for $680,000 in 2008.
Price: $539,000
Bedrooms: Three
Drive to CBD: 14 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-greenwood-116679915" target="_blank">19 Damson Way, Greenwood</a>
<img src="/images/2014/06/23/c.jpg" alt="">
Sold through Force Real Estate Duncraig, this home secured $542,000 earlier this month. The three bedroom, one bathroom solid brick and tile house at <a href="/news">Greenwood</a> was built in 1975, and is set on a block with a backyard, double carport and shed. The vendors purchased the house for $315,000 in 2005.
Price: $542,000
Bedrooms: Three
Drive to CBD: 35 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-morley-116475643" target="_blank">17 Telstar Drive, Morley</a> <img src="/images/2014/06/23/d.jpg" alt="">
Another three bedroom, one bathroom house sold around city’s median price this month, with this <a href="/news">Morley </a>home securing $545,000. The house, sold through Sammut Rosh &amp; Associates is set on a 739 square metre block, with potential to develop on the substantial rear portion of the plot. The vendors more than tripled the $171,000 purchase price with this sale. They bought the home in 2002.
Price: $545,000
Bedrooms: Three
Drive to CBD: 29 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-success-114820315" target="_blank">3 Mariposa Gardens, Success</a>
<img src="/images/2014/06/23/e.jpg" alt="">
This three bedroom, two bathroom <a href="/news">Success </a>home was sold through De Freitas and Ryan Cockburn for $535,000. Prior to sale the house was rented out for $500 per week, giving the property a yield of 4.86%. In seven years, the vendors managed to secure more than double their purchase price – they bought the home for $219,000 in 2007.
Price: $535,000
Bedrooms: Three
Drive to CBD: 35 minutes
</li>
</ol>
To see what Perth's median asking rent will get you, click below.
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 Asking rents have softened across Perth since reaching highs in April last year, according to <a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=wa%3A%3APerth&amp;type=c&amp;t=1" target="_blank" style="line-height: 1.3em;">SQM Research</a>. 
The asking rent for a three bedroom house in the West Australian capital has dropped 7.4% in the last 12 months, though rents are up 6.8% on a three year basis. The median asking rent for a three bedroom house in the city is now $504.10 per week.
These three bedroom houses are all available to rent at around $500 per week:
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-wa-mullaloo-405313114" target="_blank">12 Angle Place, Mullaloo</a> <img src="/images/2014/06/23/f.jpg" alt=""> This home in <a href="/news">Mullaloo</a> is available to rent through Primus Realty for $500 per week. Purchase price: $614,000 Yield: 4.22% 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-southern+river-413349739" target="_blank">69 Elkhorn Avenue, Southern River</a> <img src="/images/2014/06/23/g.jpg" alt=""> Located in the south eastern suburb of <a href="/news">Southern River</a>, this house is available to rent through Primus Realty for $500 per week. Purchase price: $232,000 Yield: 11.2%
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-manning-413313923" target="_blank">4A Welwyn Avenue, Manning</a>
<img src="/images/2014/06/23/h.jpg" alt="">
This house, 11 minutes drive from the CBD, is available to rent later this month for $500 per week, through Access Property Management South Perth.
Purchase price: $555,000
Yield: 4.68%.
</li>
</ol>
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What can you buy for Perth’s median house price?

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Wendy Moore has nominated her top five favourite items from this season’s renovations.
The House Rules judge and Home Beautiful magazine editor told The West Australian which design objects caught her eye.
<ol>
<li>
The Rita print from Candy and Ryan’s house. <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/2014/06/23/Rita-Vintage-Style-Canvas-189x139cm-Selected-Stores-Only.jpg" alt=""> The vintage style print from <a href="https://www.freedom.com.au/homewares/decorator-accents/wall-art/23397224/rita-vintage-style-canvas-189x139cm-selected-stores-only/" target="_blank">Freedom </a>was chosen by Carole and Russell, matching the yellow light shades over their kitchen. “It suited the house rules perfectly,” Moore told The West Australian. Carole and Russell won the highest score for their zone in Candy and Ryan’s house. 
</li>
<li>
The ant-cap lights from Bomber and Mel’s house. Brooke and Grant grabbed some ant-caps from Bomber’s shed to create new lamp shades in their lounge room. Moore called the ant-cap lights “a really clever concept.” 
</li>
<li>
The bedhead from Adam and Lisa’s house. <img src="https://www.urban.com.au/images/2014/06/23/Capture.JPG" alt=""> The <a href="https://www.heatherlydesign.com.au/product/waldorf/" target="_blank">Warldorf bedhead by Heatherly Design</a> that Maddi and Lloyd was summed up in two words: “luxury and style” 
</li>
<li>
The blackwood bench from Brooke and Grant’s house. Halston Joinery made the custom blackwood bench in Brooke and Grant’s entrance, which had a pigeon hole for each of their seven children. 
</li>
<li>
The bath from Brooke and Grant’s house. <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/2014/06/23/bath-june-23-one.jpg" alt=""> Brooke and Grant were also given a freestanding bath. "The <a href="https://www.reece.com.au/bathrooms/products/kado-lure-1760-freestanding-oval-bath-white-9502377" target="_blank">Kado Classic freestanding bath</a> from Reece fits perfectly within a 100-year-old farmhouse," said Moore. "A great modern version of a classic look."</li>
</ol>
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Wendy Moore’s top five finds from House Rules

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Ongoing fees to financial advisors and brokers are costing Australians $3.367 billion a year, according to a cash back provision company.
In a report commissioned by YourShare, research and consultancy firm Rice Warner have calculated the total annual ongoing fees and commission paid to brokers for life insurance, mortgages, superannuation and pensions and managed funds.
According to their research, each Australian pays an average of $1,808 per year for ongoing financial services fees.
Australia’s ongoing fee and commission costs, per person, per year:
<ul>
<li>$688 on mortgages (based on an average size loan of $344,221)</li>
<li>$404 on life insurance (on an average annual policy premium of $2,019)</li>
<li>$546 on non-super managed funds (on an average investment of $136,612)</li>
<li>$170 on retail super (on an average account balance of $77,980).</li>
</ul>
YouShare’s chief executive Ron Hodge says that many consumers are not aware of the ongoing fees.
“These ongoing fees are hidden to many consumers because they were either not disclosed or they were buried deep in paperwork when you initially bought these products,” says Hodge.
 “$3.367 billion is an enormous amount for Australians to be paying out in annual, ongoing fees to advisers and brokers for the financial products that most of us have, especially if you are no longer being serviced by your adviser or broker,” he says.
Click to open in new window:
<a href="/images/2014/06/23/your-share-june-23-one.jpg" target="_blank"><img src="/images/2014/06/23/your-share-june-23-one.jpg" alt=""></a>
Source: YourShare. *the sum of commissions has been used to show the impact on Australians holding multiple products. ^average sums insured are $450,000 term, $490,000 TPD, $245,000 trauma and $5,800 per month income protection.
YouShare offers a service helping people get cash back for hidden fees.
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Australians paying more than $3 billion a year in ongoing fees: YourShare

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Mortgages can now be electronically processed in all major banks in Western Australia.
Land transaction documents can now be registered online through <a href="https://www.pexa.com.au/" target="_blank">Property Exchange Australia </a>(PEXA), the first national electronic lodgement platform. Western Australia has now joined the National Electronic Conveyancing System, which is expected to save $580 million from 2011 to 2028 nationally, with the state receiving a benefit of about $80 million.
The major banks can now electronically lodge mortgages, discharges and refinances. The state’s first online transaction was submitted by Westpac on Wednesday.
Lands Minister Terry Redman said the online technology will make the property transaction process more efficiency.
“The ability to electronically register land transaction documents through an online platform will revolutionise the WA property and conveyancing industry,” said Redman.
“The days of having to provide large amounts of paperwork to banks for a property transaction are now gone - electronic conveyancing will reduce timeframes, improve efficiencies and productivity and provide sound financial benefits to the State and industry.”
For now, e-conveyancing is only available to the major banks. Settlement agents and lawyers will have access to PEXA in May 2015, when full transfer and financial settlement functionality will be offered in the state.
“This will allow property lawyers to transact with banks and other financial institutions to perform lodgements and settlements online, including the payment of stamp duty and other third party disbursements,” said Redman.
Landgate will continue to provide current processing services for paper-based conveyancing.
Victoria, New South Wales and Queensland can all lodge mortgages through PEXA. The first stage of the system will be released in South Australia, Tasmania and the Northern Territory in 2015.
PEXA’s second release was launched in Victoria earlier this week. Full transfer and financial settlement functionality will be rolled out in New South Wales and Victoria in late October, with PEXA supporting new mortgages, mortgage discharges, refinances, notices, caveats and transfers including online lodgement and financial settlement.
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Electronic property transactions now available in Western Australia

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Brad Beer is the managing director of <a href="https://www.bmtqs.com.au/" target="_blank">BMT Tax Depreciation</a>, a quantity surveying company specialising in tax depreciation schedules for investment, commercial and rental properties.
He's also a property investor with a focus on long-term, sustainable strategies. We sat down with Brad to hear about the lessons he's learned over 13 years as an investor. 
The beginning
I bought the first property in 2001. It was an old, very rough, four bedroom house in the Newcastle area, with a big shed out the back, which I still own. Then I went straight into a serious amount of renovation.
I’ve done a number of renovations over the years, and that was the first one. I was up at whatever hour of the night, after work, whenever possible on the weekends. It was pretty ugly to start with.
I did that on the first one, and I did that on the second one. Then I bought some land. At that time in my life I didn’t have much equity. So I bought, I renovated, I revalued. I pulled the equity back out so I could go again.
There was a lot of buying and renovating; manufacturing more equity out of the properties by going, “This is a two bedder but I can do this, this and this to make it a three bedder”.
The fact is I just didn’t have equity at the time; I didn’t have any money. Hindsight is a wonderful eye-opener, and one thing I might have done differently was to use Lenders Mortgage Insurance on my first property instead of saving 20%, allowing me to buy two properties at the same time. It would have been beneficial in this instance as there was a lot of growth in the New South Wales market in those first couple of years, and in hindsight I realised I missed a chunk of it because I was trying to do things the “right way”. But you learn from these things.
On any renovation you budget a certain amount to do works, and even as a quantity surveyor, you live in a dream land.
There have been mistakes along the way, but did I make any major mistakes and completely ruin anything? The answer’s “no”.
Did I find bigger problems than I expected once I pulled the walls off? Yes. You’ve just got to allow for those sorts of things.
There are properties I own now that I wouldn’t have bought if I had my time again. That’s because I know more about investing properties now than I did back then.
I bought land at a time when I shouldn’t have. We had the GFC a couple of years later, around the time that I settled. It wasn’t the right time in my portfolio to buy land, based on the cash flow (or lack thereof) it was going to generate. I was speculating and purchased the property on its growth potential, and I had to settle when the GFC hit, which I was financially able to do at the time, but it did tie up equity in something I shouldn’t have bought.
Fundamentally, a lot of things I believe about investment haven’t changed. I would probably buy a lot of similar properties to what I have bought, even though hindsight can change things considerably, of course.
I don’t have the physical time or the want to go and renovate at the moment, especially not personally. So that changes the cost of things considerably.
My position is more comfortable now from an equity perspective and from an available cash perspective. The fact is, one of the keys to investing in property is learning to manage financing properly and having control of cash. I have control of more cash now through my property investing.
Renovation: A case study
 <img src="/images/2014/06/18/Before%20Reno%208.JPG" alt="">
Brad purchased this Newcastle home for $262,500. 
<img src="/images/2014/06/18/After%20Reno%205.jpg" alt="">
The home is now valued at $460,000.
<ul>
<li>Property in Newcastle area</li>
<li>Purchased in 2006 for $262,500</li>
<li>Two bedrooms</li>
<li>One bathroom</li>
<li>Spent $25,000 on renovations</li>
<li>Bank valuation after renovations $360,000</li>
<li>Rent after renovations $310 per week</li>
<li>Current rent $430 per week</li>
<li>Current valuation $460,000</li>
</ul>
<img src="/images/2014/06/18/Before%20Reno%204.JPG" alt="">
The house's kitchen, before (above) and after (below) renovations.
<img src="/images/2014/06/18/After%20Reno%204.jpg" alt="">
Article continues on next page. Please click below. 
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 I’m not a “put it all on everything” kind of guy.
I haven’t really got any properties in mining towns. There’s a risk associated with that. I have the kind of portfolio where I could take some risk now, but I’ve just been too busy to find one. And I think properties in mining towns should not be an early part of your investing, they should be part of your portfolio when you have the ability to take some risk. They certainly have risk attached, but then they have high returns attached as well.
You need to learn a lot of things about investing in property before you invest in property. You need to learn how to structure your finance in a way which provides flexibility with cash, as well as control of your own journey or property investing “destiny”.
One of my main mistakes was not investing in property earlier, based on my risk profile at the time, due to lack of knowledge.
It’s all about gaining as much knowledge as possible as early as possible, learning how to manage financing, understanding what type of property, based on your risk profile, you should be buying and also what you can reasonably afford. I also did a bit of research into property markets, tax and that sort of thing during my university studies. So I understood that is a part of it too.
I learned by hanging around the property industry, going to property events to talk about depreciation, reading books and actually learning about the fundamentals. I’ve continued to do that over time.
Long-term investment
Unfortunately Australia, like any other country, can sometimes assume a herd mentality – especially with property investment. Buying in areas that have hot growth but which lack fundamental reasons for that growth to continue is not something that you should do. But we do it in Australia.
It’s why we have cycles in property values in this country. I believe in long-term investment – I haven’t sold a thing since starting out.
I want ways to create equity through property, including buying, renovating, getting extra bedrooms out of houses so I can increase rent and valuation, and getting involved in small developments. I’m in a bit of a construction phase through the course of this year. I’ve bought properties where I have the ability to subdivide blocks and build additional houses on those blocks.
I’m not operating as a developer who’s required to develop. I’m operating as an investor, with the ability to develop properties, should I so choose to. That’s taken the risk out of my developments.
If you’re a budding investor, make sure you’re not staking it all on being a property developer. You should have a fall-back position where if you can’t develop right away, you can do X. To develop you need a lot more money and a lot more equity. It’s not as simple as it sounds sometimes. Like a renovation, there are hidden costs.
You’ve always got to compare the development feasibility to the potential sale price of that property at the time you do the development. My fall-back position is always, “Do I like the property as an investment by itself?”
That means I end up doing small developments of course, but that’s okay.
I firmly believe in investing in property now, and in the future. I’m actively keen to continue to do that. A lot of my investments are in New South Wales, however I haven’t spread to wider areas as much as I’d like to.
In the future I will be investing in more property in different states and would like to practice what I preach: not following the herd mentality, buying in areas where I’m not sure whether things will turn around in six months or six years – because I’m here for 10 or 15.
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Investor story: Quantity surveyor and tax depreciation specialist Brad Beer

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No Brisbane municipalities escaped losses for property sales during the March quarter, according to the latest <a href="https://www.myrpdata.com/" target="_blank">RP Data</a> Pain and Gain report.
All eight Brisbane council regions saw some loss making sales in the quarter.
Ipswich had the highest volume of loss-taking, with 19.2% of properties sold in the quarter securing less than their purchase price. In Ipswich, the median loss was $21,000. The proportion of losses was second highest in Moreton Bay, where the median loss was $25,000. 
The biggest losses were taken in Somerset, with a median $33,750 drop.
Profits outweighed losses in all Brisbane municipalities. The biggest typical profits were seen in the Scenic Rim region, with a median profit of $170,000, and the Brisbane municipality, with a $140,000 gain. 
Some 10.9% of Brisbane homes which re-sold over the March 2014 quarter sold at a loss, down from 16.6% at the same time last year. The proportion of loss-making re-sales is at the lowest level since the quarter to May 2011. 
Click to open in new window:
<a href="/images/2014/06/19/brisbane-june-19-chart.jpg" target="_blank"><img src="/images/2014/06/19/brisbane-june-19-chart.jpg" alt=""></a>
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Losses seen in all Brisbane regions for March quarter, with Ipswich the biggest loser 

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Jessie Richardson

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