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Commercial properties in NSW’s Port Macquarie are attracting self-managed super funds (SMSF) because of the Mid North Coast’s affordability and healthy yields.
“It’s a bit like Sydney in towns such as Port Macquarie, with SMSFs driving the sales of quality investment assets,” said Graeme Garrett, co-principal of Raine &amp; Horne Commercial Port Macquarie. 
SMSFs leasing a commercial property back to a related business is becoming a common trend in the sub-$500,000 market in Port Macquarie, added Garrett.
Several small business owners too are buying properties through SMSFs and then leasing them back to the business, which the current superannuation laws allow, he said.
In many cases, professionals such as accountants, lawyers, engineers, architects and real estate agents are buying commercial properties through a related DIY fund. Properties around the range $400,000-$500,000 are in particularly in demand.
“The trouble is that there’s a shortage of industrial stock in this price range to meet demand,” said Garrett.
Investors operating outside a super fund are also active in the Port Macquarie market because of the low interest rates and the fact that commercial properties are viewed as an investment safe haven, he added.
“Sydney investors seeking solid yields are also starting to make their presence felt in Port Macquarie.”
Yields for industrial stock priced below $500,000 range from 8%, while it’s 6.75-7% for retail and 8% for office space, according to Raine &amp; Horne Commercial Port Macquarie. 
“We auctioned a retail property to a Sydney investor, who purchased it through a self-managed super fund, and who intends on retiring to Port Macquarie down the track,” said Garrett. The property located at 5/56 Clarence Street, Port Macquarie sold under the hammer for $622,500.
Garrett said members of SMSFs would be best served considering a commercial asset that will appeal to future tenants.
“If you occupy it yourself now and then retire, you need to consider what appeal that property will have to future tenants and whether it will be easily let out if it’s part of your future retirement plans.
“Our proximity to Sydney and Newcastle is attracting investors from those cities through a combination of our healthy yields and commercial real estate affordability. 
“When you can buy two or three assets in Port Macquarie for the equivalent of a single-tenant property in Sydney, investors see this as value.”
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prateek24-ezbwHMbNAk

DIY super funds driving Port Macquarie commercial markets: Raine & Horne

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Singles earning an average income have been priced out of the property market from nearly all of Australia’s capital cities, a new report shows.
An analysis by financial comparison website RateCity.com.au shows that Hobart and Adelaide remain the last affordable capital cities for the nation's singles with a salary of $59,441 and $72,529 needed respectively to afford repayments on a 30-year mortgage (with a deposit of 20% at today's average variable rate of 4.74%). The industry rule that no more than 30 percent of a person’s income should go towards housing costs was applied to arrive at the figures.
The east coast remains the most unaffordable, with Sydney topping the list of tough markets for singles to crack. A person wanting to buy in the harbour city needs a six-figure salary of $137,556 to comfortably fund a mortgage on a median-priced house.
Someone looking to buy in Brisbane or Melbourne would require an $80,866 and $96,706 salary respectively to afford a median priced house, while in Canberra the salary needed would be $97,756.
According to Peter Arnold, data insights director at RateCity.com.au, the report raises further concerns that rising property prices across many cities in the country are forcing Australians out of the market. This could fundamentally impact the nation's demographics and service needs in the years ahead, he said.
“Our analysis reveals a reality that many young Australians are now living; the impossibility of affording a median-priced house on an average salary in most capital cities,” Arnold said.
“Without a partner or family member to share mortgage costs with, the numbers paint a grim picture for millennials, many of which may be squeezed out. Even as part of a couple, east coast property prices are out of reach for many Australians.”
“Many first home buyers, including young families, may find that they have to move away from careers in the CBD and the support of families to more affordable parts of Australia. This could have long-term effects on Australian society and bring with it challenges for the future in many areas, including transport and childcare.”
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Singles priced out of property market: RateCity research

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Property investments by SMSFs through limited recourse borrowing arrangements (LRBAs) could come under increased scrutiny of the tax office this year, says major accounting firm H&amp;R Block.
Last year, the ATO had expressed concern at LRBA loans that were not structured correctly, including incorrect registration of the ownership of property bought under an LRBA. It spoke of increasing its focus on the LRBA route.
Given the growth in the SMSF sector and the increasing popularity of strategies such as LRBAs, H&amp;R Block has tipped that property will remain a top priority for the ATO’s compliance work in the SMSF sector this year.
“I know the ATO always keeps a close eye on property investment and especially LRBAs,” H&amp;R Block's director of tax communications, Mark Chapman told SMSF Adviser.
This particularly applies to related party borrowings which may currently be structured on non-commercial terms, with a June 30 deadline to have these structures rectified, it said.
According to the ATO website, an asset purchased by an SMSF trustee through LRBA is held in a separate trust.
If the loan defaults, the lender's rights are limited to the asset held in the separate trust, but not to assets held in the SMSF.
In 2015, an ATO campaign saw 500 postcodes issued with warnings urging holiday home owners to ensure deductions were not made during periods a property was not available for let.
“With property rental a valuable source of extra income for millions of taxpayers, it can be expected that the ATO will follow up with some targeted reviews and audits this year,” Chapman was quoted as saying.
The “sharing economy” – “driven in part by the high levels of non-compliance amongst those driving for Uber or renting rooms through Airbnb,” would also be an area of scrutiny by the ATO, he said. 
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ATO to focus on LRBA route to property investment by SMSFs

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A disproportionate rise in house prices compared with wages growth has made the task of first time buyers difficult in NSW, but there was still an increase in their number in the year to August 2017.
A recent Bankwest report reveals a growth in first time buyers (FTBs) of 5.1% (based on ABS data), bringing the total number of FTB purchases to 17,844 for the year. 
This is the largest increase since November 2014.
NSW FTBs still face an uphill battle to get their first property with the average couple having to save for six years to get the necessary $148,281 for a 20% deposit on median priced house, according to the 2017 Bankwest First Time Buyers Report.
This time span is an increase of six months from this time last year.
Sydneysiders have to save for 8.2 years (up eight months on last year) to save the necessary $215,133 for a deposit. This makes both NSW and Sydney the country’s most inaccessible state and city for FTBs.
<a href="https://www.propertyobserver.com.au/images/2017/12/1/NSWMostTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/NSWMostTime.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/12/1/NSWLeastTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/NSWLeastTime.png" alt="">
Bankwest general manager personal and small business banking, Donna Dalby said NSW’s FTBs are at the mercy of a number of factors.
“The main reason for this increased savings time at both the state and city level is an increase in house prices compared to increases in wages. House prices went up by 10.7% in NSW whereas wages only rose by 2%.
“All this means the average savings time for a NSW home is 1.4 years more than the national average,” she added.
The challenging nature of the NSW market means home owners are considering other options, such as a looking outside the top end of Sydney’s housing market and into more humble avenues.
This is reflected in the fact that the average house loan size for NSW FTBs was a relatively modest $368,500 in the year to June 2017.
The report also shows that Sydney FTB couples could do well to consider opting for a unit rather than a house as a first home. The average saving time for a unit across Australia is 4.2 years, five months less than the savings time for a house. In Sydney the saving time for a unit is 5.9 years, 2.3 years less than the saving time needed for a house.
“Everyone dreams of having their own house but medium and high density housing is on the increase across the country and can offer a noticeably quicker route to home ownership than aiming at a house purchase,” said Dalby.
Sydney’s Mosman area was the most inaccessible. FTBs there will require an average of 20.4 years to save a median deposit of $795,408, making the area the second least accessible in the nation behind WA’s Peppermint Grove, said the report.
The significant four-year rise in saving time in the year to June 2017 was driven by a 29.8% increase in Mosman median house prices.
Remarkably however, the nation’s largest year-on-year increase was in Hunters Hill where it takes 4.1 years longer for a couple to save the $682,678 deposit on a median priced house relative to last year.
The findings were part of the ninth annual First Time Buyers Report by Bankwest.
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-125807558" target="_blank">31 Morish Street, Broken Hill</a> (picture above) recently sold for $115,000.
A two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-126500142" target="_blank">27 Central Street, Broken Hill</a> (pictured below) sold in November 2017 for $95,000.
<img src="https://www.urban.com.au/images/2017/12/1/BrokenHill2.png" alt="">
 
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Rise in first time buyers in NSW despite challenging housing market: Bankwest 

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Melbourne stays firmly perched at the peak of cycle for unit markets, while Sydney remains at the start of decline, according to property valuation firm Herron Todd White’s (HTW) recent report.
“This year will undoubtedly be seen as the one where the collective boomtown mentality of Sydney took a breather,” according to HTW’s Month in Review for December.
In Melbourne, it was a very good year for property with great fundamentals and many investors still confident there’s a way to go.
Ballarat, which had made it to the peak of the unit market cycle, slipped one notch to approaching the peak.
The peak of the market position is dominated by cities or regions from NSW, with Gold Coast and Melbourne the only outsiders.
As HTW put it: “2017 was the year some of our hottest markets decided it was time to take a breather.”
The bottom of market has new entrants in Darwin and South West WA, which join an already long list led by Adelaide. Darwin was approaching the bottom in November.
Meanwhile, Brisbane, Canberra and Perth remain at the declining market position.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWUnitsDec.jpg" target="_blank">Click to enlarge</a>
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/5/HTWUnitsDec.jpg" alt="">
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Melbourne at peak of unit market, Sydney remains in decline: HTW clock

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National residential listings rose by 3.2% to 334,594 in November 2017, with stock levels jumping in Sydney, Melbourne, Canberra and Adelaide, as homeowners seek to take profits ahead of the summer break, latest data from SQM Research shows.
Canberra led listings with an 8.5 percent jump, followed by 5.9% in Adelaide, 5.6% in Sydney and  4.9% in Melbourne. 
Compared to a year earlier, listings are up 20.1% in Sydney, reflecting a large increase in properties available for sale, though in Melbourne stock levels are down 10.3% from a year earlier, SQM Research said.
In Brisbane, listings were up by 3.3% and in Perth they rose 3.4%. In Hobart, listings were up by 3.1% over November, but are still down 28% from a year earlier, reflecting a sharp shortage of properties available for sale in that city. 
“November listings usually jump ahead of the market slowing during the Christmas and New Year’s break, so the results are expected. That said, the year-on-year increase in Sydney is significant. Sydney now has the highest level of listings since October 2012,” said Louis Christopher, managing director of SQM Research.
“While there is a slowdown in Sydney, and to a lesser extent in Melbourne, we are still of the belief this is just a temporary stay, with a likely acceleration in market conditions next year based on an expansion in lending once again by the banks and still low levels of interest rates.” 
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQM1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQM1.png" alt="">
Capital city asking prices rose 0.5% for houses and 0.2% for units for the month to December 5. The largest monthly rise came from Canberra, where house asking prices rose 5.9%. 
In Melbourne, asking prices for units rose by 1.4%. Year-on-year asking house price gains were the strongest in Melbourne, with prices rising by 22.2%.   
Hobart had the strongest asking price gains for units, up 19.7% over the year.  
Only Darwin and Perth experienced price falls as the mining downturn continues to impact the property markets there, SQM said.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQMIndex.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQMIndex.png" alt="">
<h3>Key Points </h3>
<ol>
<li>National listings rose 3.2% during the month of November to 334,594 residential properties, but were down 3.7% over the year.</li>
<li>Listings rose the most in Canberra over the month, up by 8.5%, to be up 10.8% over the year.</li>
<li>Listings jumped in Sydney by 5.6% over the month, to be up 20.1% over the year.</li>
<li>Hobart recorded a monthly rise in listings of 3.1%, but they are down 28.0% over the year.</li>
<li>Capital city asking prices rose over the year to December 5 by 10.2% for houses and 6.0% for units.</li>
</ol>
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Property listings rise in November as owners seek profits before summer break: SQM Research

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Shoalwater and North Coogee in Perth and Halls Head in Mandurah are the three top suburbs in Western Australia where the prices of units showed the most growth in the last five years.
The data from CoreLogic data tracks the percentage growth over a five-year period.
North Coogee (postcode 6163) grew 34% and was far ahead of the rest of the pack. Unit prices in Shoalwater grew 23.1%, while they were up 23.4% in Halls Head.
Of the 13 suburbs, 11 are in Perth.
<table border="0"><tbody>
<tr>
<td> Suburb</td>
<td> 5-year growth</td>
</tr>
<tr>
<td> 1. Applecross</td>
<td> 17.6</td>
</tr>
<tr>
<td> 2. Balga</td>
<td> 16.5</td>
</tr>
<tr>
<td> 3.Busselton</td>
<td> 16.9</td>
</tr>
<tr>
<td> 4. Coolbellup</td>
<td> 16.1</td>
</tr>
<tr>
<td> 5. Halls Head</td>
<td> 23.4</td>
</tr>
<tr>
<td> 6. Melville</td>
<td> 21.1</td>
</tr>
<tr>
<td> 7. Mount Pleasant</td>
<td> 17.3</td>
</tr>
<tr>
<td> 8. Nedlands</td>
<td> 22.7</td>
</tr>
<tr>
<td> 9. North Coogee</td>
<td> 34</td>
</tr>
<tr>
<td> 10. Shoalwater</td>
<td> 23.1</td>
</tr>
<tr>
<td> 11. Tuart Hill</td>
<td> 18</td>
</tr>
<tr>
<td> 12. Westminster</td>
<td> 17.9</td>
</tr>
<tr>
<td> 13. Woodlands</td>
<td> 19.2</td>
</tr>
</tbody></table>
In North Coogee, the median unit price is $670,000 as at September end, according to CoreLogic.
In the outer southern Perth suburb of Shoalwater (6169), the median price for units is $245,000.
A three-bedroom unit at <a href="https://www.realestate.com.au/property/vlla-5-16-arcadia-dr-shoalwater-wa-6169?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">5/16 Arcadia Drive, Shoalwater</a>, sold in February 2017 for $412,500. The unit last changed hands in 2002 for $200,000, according to CoreLogic RP Data.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/Shoalwater1.jpg" alt="">
Another three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-wa-shoalwater-120085101" target="_blank">1/154-156 Arcadia Drive, Shoalwater</a> (picture above) sold in October 2015 for $355,000.
Previously, it sold in July 2014 at the same price but in June 2011, the unit changed hands for $300,000, CoreLogic RP Data shows.
Halls Head (postcode 6210) has a median price of $390,000.
 
 
 
 
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North Coogee leads WA's best price growth suburbs over past five years

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The region in Adelaide from Prospect to Walkerville has shown the strongest growth in home values in South Australia over the last 10 years, according to CoreLogic’s latest data.
All the top five regions listed under South Australia showed a consistency in their growth numbers — between 30 and 40% — as per figures in CoreLogic’s Best performing property markets past 10 years data. 
<a href="https://www.propertyobserver.com.au/images/2017/11/30/SA10years.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/11/30/SA10years.png" alt="">
CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport &amp; commercial hub with a population of between 30,000 and 130,000 people).
The median price of dwellings in Prospect - Walkerville was $697,216. 
A four-bedroom house at <a href="https://www.realestate.com.au/property/36-york-st-prospect-sa-5082?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">36 York Street, Prospect</a> (picture above) sold for $700,000 in July 2017, according to Corelogic data. Previously, it sold for $295,000 in 2006. 
A two-bedroom house at <a href="https://www.realestate.com.au/property/2-le-hunte-ave-prospect-sa-5082?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">2 Le Hunte Avenue</a> in Prospect sold for $615,000 in July 2017. It previously sold for $518,000 in 2012 and $368,000 in 2006.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/Prospect.jpg" alt="">
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Prospect-Walkerville scores SA's highest 10-year growth in home values: CoreLogic

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Western Australia lags behind rest of the nation in price growth of dwellings over the last 10 years, with only Serpentine-Jarrahdale growing in double digits, according to the latest CoreLogic data.
With a 10 year growth of 17.5%, Serpentine-Jarrahdale has outperformed the rest of WA, with every other region of the state recording growth of less than 5% over the decade.
The data also highlights just how weak the housing market in Perth has been over the past decade.
<a href="https://www.propertyobserver.com.au/images/2017/11/30/Serpentine.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/30/Serpentine.png" alt="">
CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport &amp; commercial hub with a population of between 30,000 and 130,000 people).
The median price of dwellings in Serpentine-Jarrahdale was $406,775, according to CoreLogic data.
A four-bedroom house at <a href="https://www.realestate.com.au/property/18-mcneil-gr-jarrahdale-wa-6124?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">18 Mcneil Grove, Jarrahdale</a> (picture above) sold for $410,000 in December 2016. Previously, it traded for just $33,500 in March 2002, Corelogic data shows.
Another house in Jarrahdale, at <a href="https://www.realestate.com.au/property/5-brady-rd-jarrahdale-wa-6124?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">5 Brady Road</a>, sold for $285,000 in July 2017, having previously changed hands for $280,000 in April 2009.
The growth in value was just $5000 in eight years, a good example of the weakness in the WA market.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/Jarrahdale2.jpg" alt="">
 
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Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic

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Mixed-use retail assets continue to find favour with investors, most recently evident from the ongoing auction campaign to sell two lots in Sydney’s Inner West, say Cushman &amp; Wakefield.
Located at <a href="https://www.commercialrealestate.com.au/property/lots-1-2-270-liverpool-road-ashfield-nsw-2131-2013999807" target="_blank">270 Liverpool Road</a> (pictured above) in Ashfield’s retail strip, the lots comprise two brand new strata retail stores tenanted by ANZ Bank and Chemist Warehouse.
According to Cushman &amp; Wakefield, the strong interest in the upcoming auction for the two lots has been driven primarily by high net worth individuals and family investors, both from the local area but also interstate and overseas. These investors are attracted to the long term capital growth presented by the retail sites.
With the rise in medium and high density housing, there has been a significant effect on the way we work, shop and live, say Cushman &amp; Wakefield.
This is also driving experiential and mixed use retail as retailers look to meet the challenge from online shopping.
Demand for mixed use retail and lively high streets storefronts are, in part, also in response to increasingly compact living spaces that are impractical for entertaining.
For developers, the mixed use retail component of a development can generate significant returns, and margins can be increased through maximising the retail pricing and refining their strategy.
“With an apartment tower and space below you effectively create a vertical community,” says Cushman &amp; Wakefield’s head of Research Dominic Brown.
“The retail offers more than convenience; the right tenant emphasises that local village atmosphere and occupiers buy into the concept of a café where the barista knows their order, or bank where the teller knows their name.
“The natural solution for residential adjacent retail is convenience retailing, however, any business offering something the internet can’t is ideal. An experience or service element which is not appealing or available for online purchase will be well received by any resident.”
The two lots going to auction on December 5 reflect this trend.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/24/Ashfield2.jpg" alt="">
Lot 1 is occupied by Chemist Warehouse, which is on a new 10-year lease to 2027 plus options to 2037.
The net income from the property is $434,687 per annum plus GST.
The net lettable area is 789 square metres.
Lot 2 is lease to ANZ Bank which is on a seven-year lease to 2023 plus options to 2033.
The net income from the property is $253,838 per annum plus GST.
Its net lettable area is 274 square metres.
Both properties have 4% annual increases.
The listing agent is Anthony Bray.
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Mixed-use retail values boosted by surging residential development: Cushman & Wakefield

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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.

[smartcode_project:default project_id=135096 project_image_fid=356818]

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."

[smartcode_project:default project_id=135096 project_image_fid=356828]

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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."

[smartcode_project:default project_id=135096 project_image_fid=356829]

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."

[smartcode_project:default project_id=135096 project_image_fid=351104]

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.

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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."

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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.

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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.

[smartcode_project:default project_id=102717 project_image_fid=355297]

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.

[smartcode_project_cta:default project_id=102717]

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.

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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."

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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."

[smartcode_project:default project_id=5743 project_image_fid=5374]

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."

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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>.

Prateek Chatterjee

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