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If I told you that a regional NSW city - only a two hour drive from Sydney - has predicted population growth of 42% over the next 20 years, would you believe me?
NSW Planning has released some interesting statistics. They say that the population of NSW will increase by two million people to reach 9.2 million by 2031.
There is a special release of preliminary population projections for 2011-2031 which reveal that many of the states regions will grow – some faster than others.
Some of you reading this will know that I’m a big fan of the Hunter Region of NSW. It’s where I’ve been developing property since 2001. I love the area and continue to study and research it. It’s a vibrant region with a diverse economy. Over time, I’ve narrowed down my focus for property developing to a few cities within the very large Hunter Region.  The areas we work in are very affordable, with good growth prospects.
This week I thought I’d share a great research tool on the NSW Department of Planning’s website.
The NSW Department of Planning and Infrastructure is the key source of population analysis and policy-orientated advice for the NSW government. It’s responsible for the development and regular review of NSW official population projections, incorporating information from its Metropolitan Development Program, the Australian Bureau of Statistics, Federal Department of Immigration and Citizenship and NSW Health. It also develops household and dwelling projections, which are informed by the future population size and age structure as indicated by the population projections.
In a nutshell, they’ve worked out that NSW is growing.
Their projections show that the state will grow by 100,000 people on average each year until 2031. They have regional growth plans in place for all parts of NSW to better cater for, and support, growth and population change in the regional areas.
The measures being taken by the NSW government to encourage regional development include:
<ul>
<li>
Identifying 1,500 more public sector jobs for relocation from metropolitan Sydney to regional areas by 2021, as part of the Decade of Decentralisation vision
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<li>
Creating regional growth plans as part of our new planning system
</li>
<li>
Extending eligibility for the Regional Relocation Grant to long-term renters in metropolitan
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Increasing NSW government funding to promote regional tourism, boost frontline services and support hospital upgrades in regional communities
</li>
<li>
Providing more than $160 million over four years to mining communities through the Resources for Regions program
</li>
<li>
Supporting new investment in regional NSW through the Regional Industries Investment Fund, which in 2011-12 helped generate more than 1,000 new jobs
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Furthering efforts to attract people to regional NSW for work through a new $10,000 Skilled Regional Relocation Incentive
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Extending the Jobs Action Plan, which offers a payroll tax rebate to businesses employing additional staff, to 30 June 2015
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Allocating 30% of funding from the state’s infrastructure fund, Restart NSW, to regional communities
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</ul>
Check out <a target="_blank" href="https://www.planning.nsw.gov.au/en-au/deliveringhomes/populationandhousingprojections.aspx">this link</a>; you can click on any NSW region and it will give you the current population, predicted growth, the main drivers of the growth and a breakdown of the age changers. Let me know if you work out which city I’m referring to.
If history is anything to go by, the Hunter lags the Sydney market. Last cycle, I watched as the Sydney market went crazy with demand, prices increased and investors were priced out. They started looking for more affordable areas to invest in. That triggered the last major growth spurt in the outskirts of Sydney. Indicators show that this time may be looming.
If you combine purchasing and then adding value to property through development - as the market swings upwards - then you’ve hit the nail on the head and can create some good equity in your property.
I’m not the only one touting the benefits of the Hunter Region and agree wholeheartedly with Bernard Salt, leading commentator and advisor on consumer, cultural and demographic trends:
“The Hunter has it all: critical mass in population; a diverse economic base; first-class tertiary institutions; military representation; airport connectivity; local media production and broadcasting; as well as proximity to Sydney.” 
I couldn’t have said it better myself, thanks Bernard.
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
 
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jochivers-wq5Bp59R5a

NSW's population is growing, but some places more than others

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Watching The Block recently, I chuckled as the site foreman Keith was hounding the contestants for their plans so he could start on the plumbing and other rough ins (the electrical and plumbing wiring and pipes to be installed before the internal linings to the frames) when they’d barely started on the ground floor room renovation. They were complaining they barely had time to work out the day’s challenge, let alone plan the upper floors. It hit a chord as I’d been discussing the same thing with our builder today on one of Property Bloom’s house renos.
The rough in process is so important, but seemingly quite ‘boring’. You need to work out where you want pipes and drains that will support the more sexy fittings and fixtures that will come later as part of your bathroom renovation.
To get your wet areas right it’s all about the rough in, to ensure you can then position and connect the PC items in the right spot.  'PC' is the term for a prime cost item – toilet, bath, mirror, vanity, taps etc. If you get the rough in right, then the actual fit out should be pretty easy but you need a good imagination or some experience to ensure your dream design ends up the way you want it. You also need to know what fittings you will use so their specifications can be given to the plumber to refer to during the rough in, so planning ahead is essential.
<img alt="bath-feb-7-after" height="313" width="470" src="/images/stories/2014/02/07/bath-feb-7-after.jpg">
On a house reno we are currently working on, our beautifully restored 1.7 metre claw foot bath, that we found locked away behind an ugly fibro casing, is sitting in one of the bedrooms where we are painting the base after it was re-enamelled. I couldn’t just pick it up and carry it into the bathroom to position it as it’s bloody heavy, so we measured it and traced its position on the yet to be waterproofed bathroom floor, marking out the location of the plug hole so the plumber knows where to position the waste.
<img alt="bath-feb-7-before" height="313" width="470" src="/images/stories/2014/02/07/bath-feb-7-before.jpg">
While we're not changing the location of the toilet, it is being replaced with a more modern and stylish back to wall system – so the toilet waste will move a little. When installing a toilet, you will need to know the "set out" and position of the water inlet. This measurement will help you choose the size toilet you need to buy and which sizes to avoid. 
For an S trap installation (where the waste outlet is positioned on the floor) the set out is the distance measured from the finished tiled wall to the centre of the waste outlet on the floor. The set-out can vary greatly depending on the age of the house. Most new homes will have a standard set-out of about 140-165 millimetres, which will enable most toilet suites to be installed. However, if the set-out is more that 200 millimetres or less than 100 millimetres, it will limit your choice of the type of toilet you can buy.
We are working on a timber floor rather than concrete slab, so it’s a little easier to vary the position of the toilet’s waste area but you certainly need to get it right when working with a concrete slab, as the plumbing rough in is done before the slab is poured.
It’s also important to have the tapware delivered early as your plumber needs to chase in the hardware to the walls – this is also part of the rough in process.
As well as our main bathroom, we have a powder room, where we are installing just a toilet and wall mounted modern wash basin over a polished timber floor. We’ve tried to focus on a single feature piece for each bathroom – the claw foot bath is it for the main bathroom, against a floor to ceiling tiled marble look feature wall and the 750 millimetres wide wash basin beneath a large pendant light for the powder room.
Whatever your bathroom design, take time in the initial planning stages to work out the PC item positions and talk to your plumber about the rough ins so that your bathroom reno turns out smoothly.
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
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Getting the rough ins right is the key to a smooth bathroom renovation

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I often get asked whether you can make some equity in a single house build or a house and land package. It’s a good question and the answer is yes...and no.
Typically a dual occupancy development where two dwellings are built on one lot can create some pretty good equity. It’s fairly simple to understand that if you take one piece of land and put two dwellings on it, each dwelling is basically benefiting from half the cost of the land and this is where a lot of the equity is created. The economies of scale, building two dwellings at once, also contributes.
Lately I started studying some suburbs of the Hunter Region in NSW, where Property Bloom manages developments, for our clients that we would not normally target for dual occupancies or medium density development. This is mainly because there are usually covenants on the land in these new estates, so this type of development is not permissible. I watched the sales on the houses at the premium end and was amazed at some of the results. In some of these suburbs we were seeing house sales exceeding the median price for the local government area (LGA) by around $150-$200,000.
For a single house, the land price may be lower than that of a dual occupancy site, as you don’t need such a large block (although a larger block will add to the end value in some locations so should be considered). You must find a location where homes are selling at a premium and there is good demand. Then you find a way to build them as cost effectively as possible to create your margin.
You need to be very clever with your design, fittings, decoration and landscaping – all are areas that you can cost effectively add value with.
The key to this strategy working is also location. Find land within a short distance to strong sales references and build something similar. You then have a good idea of what your house should be worth and you can work back from there as you get your construction quotes in.
It’s all in the numbers; if you get the land at a good price, in a good location, with strong comparable sales, and the build cost is right, then there is equity to be created. It won’t work in all areas but it is working in the Hunter and that’s why we’ve just launched our new single house build strategy. This strategy allows clients on a budget to dip their toe into development on a single house build and reap some of the rewards of a larger development project.
For around the same cost of a one bedroom unit in Sydney you can build a four bedroom house in the Hunter. Is that worth thinking about?
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
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Can you create equity on a single house build? Well yes... and no

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I reckon 2014 will be a fabulous year for property investors. It’s the year where we will start to see the impact of interest rates that have dropped steadily to a record low over the past 12 months.
We’ve seen the Sydney (and other areas) real estate market start to fly and I wonder if it will reach the dizzying heights of 2003. No matter if it doesn’t, as it’s already shown that we have regained our confidence after we all took a massive hit worrying about whether we would survive the global financial crisis (GFC) in 2007 which lead to a global recession of which some countries are still battling – worse they say than the Great Depression of the 1930s.
In Australia during the GFC our resource sector seemed to hold us up as we fed China’s growth. There was a rapid rise but then the ‘slow down’ hit in late 2012 as China’s demand softened and we  transitioning from a construction to a production phase within the mining industry. This has had an impact on our economy over the past couple of years. And a change of federal government last year may be the icing on the cake of change. Change is what we need after weathering such a big storm.
We’ve survived some amazing historical events that we’ll look back on in years to come, and we'll brag to our kids about “When I was young, the entire financial world nearly collapsed, banks and even countries had to be bailed out and the stock and housing markets crashed..."
I think 2014 will see the winds of change that will lift us to soar again.
When I made my first property investment it was the year 2000 and I had spent a considerable amount of time and money on my ‘property’ education (more than my uni degree). I was lucky to start investing in an up market but didn’t really appreciate this till years later.
What I’d like to say to investors now is: You may well be looking at a window – a window of opportunity – one that won’t always be there. The record low interest rates will increase. The affordable property will become more expensive.  The government incentives may be withdrawn.
Get in and stay in. It’s the time in the market where you can make some serious money, not in a short time because a long-term commitment is needed.
Study the market but don’t take too long before you venture in and remember, you need to allow funds to be able to hold your property long-term to take into consideration the times you cannot predict – use your memory of the GFC as an example of what crazy stuff can happen.
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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The window of opportunity is open - so get in, and stay in

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Deadlines create action. There are deadlines scheduled around specific calendar events that may help you cut a good deal when buying property.
Typically the end of December – Christmas - and the end of June/end of the financial year are important dates to be able to negotiate a discount. Some land developers aim to get as many sales ‘over the line’ before the end of December or June and can be open to a little more negotiating on price and terms because of this. You can cut some good deals when there is a deadline looming.
Sometimes Easter works too. Another deadline when buying property - particularly land - may be the timing of the completion or registration of a land subdivision or off the plan building project.
Any time when people may be planning to ‘wind down’ and take time off for a break or celebrate the completion of something means that they want to see that project finished and succeed. The period before the ‘wind down’ is when you want to get in and talk turkey.
Right now, as we are winding down to Christmas, there will be some sales agents who would love to get ‘one more sale under their belt’.
And so this can be a prime time to move forward on your property journey. You can get ahead by using the Christmas break to your advantage. As most people are functioning in a dazed, exhausted state trying to tie things up for the year, you can be nabbing a good buy.
There is no rest for the wicked and if you are serious about creating your financial future then keep your eye on the prize this Christmas.
I remember a great deal negotiated last year. It was two days before Christmas and Property Bloom had made an offer on a development site for our client. The vendor was in the ‘get it sold before Christmas’ frame of mind and the timing worked for us.  We were able to get a massive 18% discount on the land.
Even though there was no way we could Exchange contracts over the Christmas break, we reassured the vendor that our client had finance preapproval and was ready to swing into action before the first of the New Year’s resolutions failed (by 2nd of January!).
As everyone started to resurface after Christmas, we already had our concept plan and builder’s tender completed. Exchange took place and by the time settlement occurred, our Development Application was approved by council. Our builder, refreshed after the Christmas break, constructed the villas in record time.
There’s no time like the present – so unwrap yours now. 
Merry Christmas from your property development project mangers; Property Bloom.
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
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There's no time like the present to take action: Jo Chivers

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After we find a development site for our client, one of the most important processes is to negotiate not only the purchase price, but the terms of the purchase.

Terms are the conditions you want to use when purchasing the property - and terms can be very powerful for you.
As a property developer, one of the first terms we always negotiate is an extended settlement. Property Bloom wants to ‘buy’ as much time as possible to get as much done before our client settles on the land. Once settlement takes place holding costs come into play in the way of interest payments on their loan.
We will often achieve a twelve week settlement and permission from the vendor to lodge a development application (DA) during the settlement period.  So after exchange, we swing into action and order a contour survey, within a few days this is with our builder and they are working on plans and the DA preparation. We can have a DA lodged with council within a few weeks of exchange and then we manage council as best we can to try and have the DA consent before or as our client is settling on the land.
Another key term is a low deposit, for the very same reason as a long settlement, to minimize holding costs.  Most sales contracts will ask for a ten percent deposit, we have been able to achieve a five thousand or even a one thousand dollar deposit.
A quick calculation based on purchasing a development site say at $250,000 and paying a ten percent deposit or $25,000 will cost $146 a month in interest over a three month settlement period based on 5.5% interest rate. Yet a $1,000 deposit over the same period and interest rate will cost just $4.58 a month so we can save about $424 over the settlement period – every little bit helps. You can get a bigger saving right now from the NSW government under their new home grant which will save you $5,000 off stamp duty if buying land to build on or a brand new or off the plan property, check it out <a href="https://www.osr.nsw.gov.au/grants/nhg/about" target="_blank">here</a>.  
Another term Property Bloom usually throws into the negotiation process is to waive the cooling off period. By the time our client is ready to exchange, we have done all our checks and research and our client has an unconditional loan approval, so there is really is no reason to ‘cool off’ as our client has committed to the project weeks before. To waive the cooling off period adds weight to your offer and gives the vendor piece of mind that there won’t be a last minute change of heart.
We will always make offers subject to pest and building inspections (if there is a house on the land) and to conditional loan approval (which our clients have up to a level even before we make an offer).
Another term we’ll use is to release the deposit to the vendor once exchange has taken place. We usually save this one as a final tool to leverage the sale depending on the vendor’s situation. We will gauge this from the selling agent.
You can also offer the vendor two or three different purchase prices at the same time - each with different terms. We may offer a higher price but with a longer settlement period and ask for access to the property during the settlement period to start renovations. We’ll include a lower offer but with a fast settlement – as long as we are sure that our client does have fast access to finance. This gives the vendor options or choices which empowers them.
The vendor may not quite be ready to move out of their home so you can offer them a rent free period or reduced market rent to sweeten the deal.
Maybe there is a lot of rubbish lying around the property and if your plan is to renovate or demolish the house, you can tell them that you’ll remove the rubbish at your cost, anything like this that makes their life easier and the sale process quicker will help you so be creative and think about how you can meet the needs of the vendor.
After the offer is accepted then you can also negotiate on the terms in the contract of sale. Many of the terms in the sales contract will be standard, which means that they’ve been in use for a long time and are fair to both seller and buyer. Your solicitor will check the clauses of the contract to make sure they do suit you and if not, they will ask for changes to be made.
In order to cut the best deal on your property purchase, be creative with your terms and if you show sympathy to the vendor then this may give you the edge over other buyers.

<hr>
Jo Chivers is director of <a style="font-size: 14px;" target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
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Sweeten the deal by negotiating terms of purchase

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Property Bloom is preparing for a big house renovation and thought I’d share some of the steps we are taking in the weeks before we start the renovation.  The house is a beautiful original Californian Bungalow with some wonderful ornate features to the ceilings and cornices (pictured below). There are also some fabulous stain glass windows.
<img alt="chivers-dec-6-one" height="230" width="470" src="/images/stories/2013/12/06/chivers-dec-6-one.jpg">
 <img alt="chivers_dec_6_two" height="313" width="470" src="/images/stories/2013/12/06/chivers_dec_6_two.jpg"> 
We found this particular property for a client who wanted us to source, renovate and prepare the house to sell. He wants to make some profit using a renovation and sell strategy. As property development project managers, we would normally look for further ways to add value to a property in the way of adding additional dwellings and subdividing. But in this case, it’s a straight renovation project.
We needed to find a rundown house with good ‘bones’ that was very well located and had some good features that we could highlight and would help sell it. I think we hit the nail on the head with this little bungalow beauty.
With a strict budget we must adhere to and a house that we could keep working on till the cows come home, we have our work cut out. We need to highlight the features and spend our money wisely.
We are replacing the 1950’s retro kitchen and two bathrooms, carrying out some repairs and painting inside and out. The wonderful old floorboards that lay beneath the floral carpet and linoleum will be sanded and polished.
This week we met with our colour consultant and we starting on the kitchen choices – the kitchen is going to be the big hero in this renovation.  We established bench and cupboard colours and chose appliances which includes a 90 centimeter wide five burner free standing dual fuel cooker with a glass canopy rangehood that will ‘pop’ in front of our bench to ceiling  tiled marble effect feature splashback wall.  We hope this will wow prospective purchasers the minute they walk into the kitchen area.  We all know that women have the main say in home purchases and we are pitching this to the middle market of owner occupiers, looking for their second home – they can afford to pay more but want something they can move straight into and enjoy and a large, modern kitchen will be at the top of their ‘must have’ list.
Now we have the kitchen colours selected, we’ve ordered the kitchen so it can be installed by the end of January. Property Bloom gets a wholesale price as we use the same supplier that our builder uses for our villa developments and so we can pass on this saving to our client. Plus by managing the kitchen ourselves, it means our builder can focus on the bathrooms and other works to ensure a quick renovation process. We plan to spend no more than four weeks on this renovation. Time is of essence to minimise holding costs for our client.
The kitchen colours and style this will spill out into the rest of the house.
Our splashback wall has a grey colour in the marble vein and it is this that gives the inspiration for our bench tops and floor tiles for the bathrooms. We’ll use the same marble effect tile as a feature tile in the main bathroom.  The marble grey can also be associated in the internal wall paint colour.
I think it’s important to continue a theme through colour choices for a house renovation and for us we want to keep it fairly neutral but need to pack a punch so that the house gets noticed and quickly.
Stay tuned and I’ll cover off some of our challenges once we get under way in the New Year with this renovation project.
 
<hr>
 Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
 
 
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Californian bungalow renovation: We have our work cut out for us and time is of the essence

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Choosing a builder is one of the most important steps of property development.
There are things like their financial position, their quality and customer service, their staff levels and their experience that are obviously all very important.
But over the years, there is one endearing feature that I’ve found means the most.  It’s something that my builder is - but not something they’ve become over time - it’s something that they just are.
They are ‘old school’. Old school means anything from an earlier era and it’s looked upon with high regard or respect.
These days it seems almost old fashioned to be able to pick up the phone and speak directly to your builder - the bloke who makes the decisions - especially when you are dealing with medium to large project home builders. There’s usually layer upon layer of management levels to sift through before getting the information you need.  With one large multinational builder I’ve dealt with, it took them two months to get the paperwork into their systems before we saw any start on the site.  Sometimes my emails were not answered for days even though I had no less than three customer service contacts.  Once, I was not told when our site manager took a week’s holiday and so assumed he was ignoring or avoiding my calls (he’d forgotten to change his voice message).
Having this experience with a larger building company has only confirmed why I love my Hunter Valley builder.
My builder’s ‘sales director’ has been known to talk me out of a building job (which would be a sale for him) because he has some kind of inside information about the site or location. But then when I find a site he’ll be there within a few hours to look at it and let me know his opinion on the slope, aspect and surrounding areas.  He has a good understanding of local sales – he lives there - and he quotes realistic estimates, nothing over inflated about him. His knowledge is gold as he’s been ‘around the block’ a few times now.
The builder allows Property Bloom staff direct access to their estimator, site supervisor or construction manager to discuss any issues. We can talk to their engineer or their town planning consultant. But, there’s one highly valuable member of our builder’s team; a lady who really is the ‘engine room’. Her attention to detail is what brings our projects together. Her opinion is very well regarded as she’s developed property herself and her knowledge and experience in the game is priceless.
Their team is my team and they tell it straight. There’s no beating around the bush if there’s an issue, they’ll raise it immediately and we’ll nut it out to find the best solution.
They do me favours too. Like today when I rang to see if they could include a significant cost normally considered outside their scope into their tender.  This was because the budget my client had set aside for some demolition work was no longer available and he needed to finance it as part of his construction lending.
It’s the no nonsense but witty, down to earth nature of this company and their staff that I value most.  Old school is good school in my books.
 
<hr>
 Jo Chivers is director of <a style="font-size: 14px;" target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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Why having an 'old school' builder can be the best bet

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We receive lots of calls from property investors wanting to talk to us about developing. During our initial chat we discuss their goals and achievements to date with property. Usually we find that most people have at least one investment property, some have several. Some have built a house before but most haven’t. Then we discuss what property developing is like as an experience to see if they think it may suit them.
Property developing is not for everyone and I’ve found that you need to be somewhat flexible, have an open mind and be fairly non-controlling and decisive.  Without going into a Carl Jung type personality and psychological analysis, it can be hard to determine if a person is ready to embark on a development. But having entrepreneurial traits will help as things won’t always go to plan.
A good starting point is to ask yourself these questions:
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Do I understand what needs to be done?
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Can I do what’s got to be done?
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Do I have the necessary skills, resources, time, and team support?
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<li>
Can I handle risk?
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<li>
Can I create real value?
</li>
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Property Bloom has managed many small property developments over the past 12 years and what we’ve done over this time is continually refine our process – with every development comes a new learning and we use this experience to improving what we do.  By doing this we’ve been able to save time, money and reduce a lot of the risk.
We only develop in areas we know there’s good demand and growth indicators and where there are comparable recent sales references so our estimated end values can be fairly accurate before we even start. We closely track what’s happening in the locations – fundamental research is just as, if not more important as statistical research to us.
Project managing your project involves dynamic relationships between several different parties. Building established and trusted relationships takes time and we have several great builders we use and know will do their best to bring in the construction process of our projects efficiently and to the highest of standards.
Property Bloom can help mitigate risk by using our tested methods, understanding of the cities and their suburbs we develop in, sourcing development sites that meet our strict criteria and using our team of people who we know do a great job. This helps create a good first development experience for our clients.

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Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
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Do you think you're ready to become a property developer?

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“So mum, what town is your next property development going to be in?” asked my 12 year old son. He’d just returned from a school excursion to Canberra, so maybe he was checking out land as he gazed out the bus window.

I was excited to have a question from him that actually related to property.  I’d been drumming into the kids the benefits or property investing since they were toddlers. They’ve both come on my development site inspection trips (bribed by a promise for lunch at McDonalds).  They’ve been photographed under a street sign that was named after their mum and occasionally I wondered whether any of what I did was sinking in.
But when my son asked this question I smiled because it’s actually a really good question. I’d been mulling over this recently. You see Property Bloom has been looking at widening the areas where we work and this is because there are some economic conditions changing right now in some locations around the Hunter that are specifically linked to mining.
On that subject, I was interested to see this week if our new Prime Minster would be successful in scrapping the carbon tax as promised.  But on Wednesday, Tony confirmed he hadn’t yet as Labor continued to block it. So we may need to wait until the new senate convenes July 1, 2014 to see things change. The flow on effect may not be seen in the mining industry to later in the year.  These are all fundamentals us property investors need to be aware of.
Whilst Property Bloom has been active in the major Hunter coal mining towns, most of our business is still being done in more diverse Hunter cities.  I always come back to the original city I started working in, and still develop in after twelve years. This town has a population of over 53,000 and has grown year on year for the past ten years.  It has a diverse economy, good employment prospects, is affordable with good rental demand.  The capital growth predictions are healthy.  Whilst some properties are selling quickly in this city, it will benefit from the “flow on effect” to come.
We are seeing quite a lot of heat in Sydney right now. I’ve been getting calls from investors trying to get into the more affordable areas of Sydney but who are constantly missing out on purchasing and reporting properties selling way over expectations.  This is making investors start to look at a wider radius around Sydney – which is exactly what I did twelve years ago after purchasing several Sydney properties and realising I needed a mix of negative and cashflow properties in order to continue on my investment journey.
Back then, I pulled up a map of the mighty Hunter Region of NSW and was surprised at how massive it was.  And there are lots of cities and towns that don’t meet our development criteria. For example, Port Stephens is a big part of the Hunter Region. It’s a beautiful area with bushy mountains and dolphins frolicking in the bays making it a fabulous tourism location but unfortunately, there are not enough employment prospects. Some people live there and commute to work in other areas or like my mum, have retired there. It doesn’t stack up for us to develop residential properties here.
Property Bloom is continuously assessing locations around the Hunter for development prospects and we have one on our radar right now that I think will work very well, stay tuned.

<hr>
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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With the mining boom slowing down, where next for Hunter Valley developments?

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jo Chivers

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