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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?

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Jo Chivers

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