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.

[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.

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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."

[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.

[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.

[smartcode_project:default project_id=135096 project_image_fid=351102]

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.

[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.

[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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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."

[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>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Newcastle

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In the second month of 2020, the Hunter region continued to see buzzing activity in the local property market, according to the latest Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
The report notes even with the uncertainty of an interest rates move, there was still plenty of activity around the region for both established houses and also people wanting to purchase a block of land to build their dream home.
"Newcastle is hoping to see market conditions improve further due to the rising population of the city, surrounding areas and also Maitland and Hunter Valley regions fuelling housing demand and relatively healthy housing affordability. 
"The Newcastle and Hunter region is highly likely to see continued growth due to close proximity to major capital cities such as Sydney. As housing affordability becomes a resurgent issue in 2020, capital city residents may once again seek relatively affordable housing in nearby regions or regional areas with high levels of amenity," the valuation firm said. 
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In terms of residential property, Newcastle has become its own market and no longer relies on Sydney as it once did. 
"In the past 12 months, Newcastle saw a shift in confidence independently of Sydney; we no longer follow suit like we once did. Locally, since the federal election, we have seen an increase in activity from all classes of potential property purchasers," the valuation firm said. 
There is still a healthy supply of inner city units for sale and with further developments around Hunter and King Streets in Newcastle and also Honeysuckle continuing into the future, perpetuates the old saying of “as long as people buy, they will continue to build them”, the report noted. 
"Savvy property investors are still seeing Newcastle and supporting areas as a great place to invest due to affordability and also strong growth potential," the valuation firm said. 
These investors will be ready to pounce on the best performing pockets which include properties in the Kotara, Islington, Hamilton, Charlestown and Mayfield areas, all located within a 15 minute drive of the Newcastle CBD.
"First home buyers in the region are also continuing to purchase established dwellings around the fringes of the city suburbs and also showing keen interest in house and land packages around the Maitland areas of Chisholm, Thornton and Bolwarra, which are all less than a 40 minutes drive into Newcastle city," the valuation firm said. 
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The trendy inner city suburb of Tighes Hill also saw a record sale price for the year at the end of February of $1.5 million for a waterfront <a href="https://www.realestate.com.au/sold/property-house-nsw-tighes+hill-133013166" target="_blank">Throsby Creek, Sparke Street</a> property (pictured below).
<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/2020/5/4/tighes%20hill.jpg" alt="">
The largest sale in the affluent suburb of Merewether for the month of February was <a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-132847678" target="_blank">68 Curry Street</a> (pictured below) which sold for just under the $2 million mark at $1.98 million, the report noted. 
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<div>Notes regarding COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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j.ballantyne1990-6AQqhLzZaK

Newcastle property market likely to see continued growth: HTW residential 

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2019 started in the doldrums and finished on a high with record sales across a number of suburbs in Newcastle, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
The report notes records sales tend not to happen in a falling or subdued market.
<a href="https://www.realestate.com.au/sold/property-house-nsw-bar+beach-131859426" target="_blank">16 Bar Beach Avenue, Bar Beach</a> (pictured below) sold for $5.525 million towards the end of 2019 and set the record in Newcastle for a single residential holding.
This eclipsed the $5.51 million paid at the beginning of 2019 for 40 Kilgour Avenue, Merewether.
<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/2020/2/10/bar%20beach.jpg" alt="">
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<a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-131281662" target="_blank">21 Flowerdale Drive, Merewether Heights </a>(pictured below) sold for $2.18 million with settlement due in the first quarter of 2020.
This property saw strong interest after a significant media campaign and is a record for the Merewether Heights location.
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So with the backdrop of a resurgent market and most agents reporting increased interest across the board, 2020 starts with a whiff of optimism (and at the time of writing, a fair waft of smoke). 
The same could not be said for Newcastle and the Hunter 12 months prior in January 2019. 
This time last year, pessimism abounded. 
"How long this current resurgence lasts or whether it can be knocked off course easily is yet to be seen. Our prediction is that it can’t be as strong as the last uptick (2012 to 2017), which was unprecedented for the area with massive increases across the board in all property sectors," the valuation firm said. 
“Part-time psychologist hat being reached for and placed on head at a jaunty angle” warning. 
"If we were to hazard a guess, it would be fair to say that we are at an interesting juncture in the market," the valuation firm said. 
The recent boom is fresh in the minds of all property investors and professionals. 
When the boom finished, many who either missed the boat or didn’t fully capitalise will have made promises to themselves that next time the ship sets off, they would get up that gangplank sharpish (or whatever it is they board ships with these days; with our smarts, we have probably moved past planks). 
"We suspect that the recent gains in the market locally are born from the fear of missing out a second time. That’s a powerful driver in any market." 
2020 is set to be a pivotal year in our future with a number of events all converging to a point where something monumental is likely to happen. 
"We have US elections winding up like a coiled spring, ever-growing awareness of and focus on climate action and China testing out sovereign nations’ resolve across the globe. Any of these have the ability to derail or boost the economy like nothing has for a decade or more," the valuation firm noted. 
And Newcastle and the Hunter is like a bug hanging on for grim death to the windscreen, being buffeted by headwinds as speed quickly escalates, whilst simultaneously trying to avoid the jet of water shot fair up the caboose followed by the wiper of death.
"We are at the mercy of things bigger and more complex than us." 
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Newcastle market resurgence yet to be seen in 2020: HTW residential 

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When we look at the industrial market in Newcastle, there are five key precincts to consider in 2020, according to the February 2020 report from valuation firm Herron Todd White.
The property valuation firm found, the Beresfield precinct continues to grow with 16 hectares of land sold at the end of 2019.
There have been a number of strata and stand alone buildings constructed in this area in the past 12 months and there are a number of buildings in the planning or initial construction phase.
In the Cardiff precinct, the extension of Munibung Road with the expected link to Lake Road at the western end has seen a number of new developments at that locality, with a number of developments recently completed.
Meanwhile in the Steel River precinct in Mayfield West, there have been sales of development land, however the market for established properties has slowed.
HTW valuers said, "we also note the completion and sale of the Myspace development which is targeted at the smaller end of the market, having units with areas less than 100 square metres."
"Thornton is very stable with no significant new developments, however we note that there have been some recent sales in that area."
"Finally, the Tomago precinct, which is more suited to heavy industrial, is starting to show some signs of activity after a relatively stagnant period."
"Overall, the key issue facing the local market is the demand for quality industrial properties outstripping supply. Moreover, decreases in lending rates have the potential to lead to an increase in investor activity, however there have been very few sales to investors recently."
"We are seeing more owner-occupier sales in recent months indicating that the reduction in the cash rate is having the effect of stimulating the market," they concluded.
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Newcastle industrial market sees supply picking up in 2020: HTW Industrial

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Newcastle retail activity has been defined by an unusual dichotomy where yields are at or near all-time lows, meaning values remain high, while the number of sales transactions has been very low compared to activity in peak market conditions from 2015 to 2018, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that some further discussion on the state of yields is required at this point. Well tenanted property with tenants that show strong trading history and long lease terms is still very strong and recent interest rate reductions by the Reserve Bank have helped underpin this strong market.
The report authors said, "we have seen, however, a (small) number of sales that indicate we have come back from peak market conditions, especially for those non-core retail properties that may reflect a higher degree of risk for the investor."
"Factors such as a secondary location, short lease expiry profile or partial vacancies were not being factored into yields during the market boom and the yield differential between core and non-core retail investment properties was not being adequately built into sale prices."
"We have seen a number of retail sales of such properties where yields have increased somewhat to reflect these risks. We see further adjustment required in this space, which is happening, albeit at a slow pace given the limited number of retail sales this year"
"We also anticipate this sales rate to increase somewhat in 2020 with a further easing of lending policy from major lenders. Now that the light rail has been up and running for some time, we see that a number of retailers on Hunter Street have suffered. Not only during the construction phase, but now with no parking available where the light rail runs along Hunter Street, many retailers have been forced to shut up shop or landlords are now in a position where they either accept lower rental returns or face extended letting up periods."
"We see these areas being converted from retail to office in coming years," they concluded.
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Newcastle retail property yields are at all time lows: HTW Retail

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The Newcastle/Hunter area has a range of yields with the general figures sitting between 3.5% and around 6%, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation.
"When discussing yields and property investments, you can break it into bite size chunks and compare the yield aspect of property versus the end capital growth," the valuation firm said. 
"Each has their benefits in the property realm and it all depends on what type of investment you require. Like all good investments you must find what works best for you in each situation.
"At the lower end you find the yields averaging around the 3.5% mark. These are the investments that are good quality properties in desirable locations which are steady and safe and in demand tenancy wise.
"Here these types of investments usually have strong capital growth and appreciation on the property.
"Basically, not huge amounts of income (or cash flow) but good solid capital growth figures generally."
The firm suggests that suburbs such as Hamilton and surrounds, Georgetown and New Lambton are examples.
"At the upper end, you find the 6% and above yields," it said.
"The higher the yield, the riskier the investment becomes, mainly because you take on more risk with the reward of higher cash flow.
"The capital growth is also usually more stunted as the yield stream is the main driver in these types of investments.
"As with any greater risk and greater reward style scenario, there is much less stability and potential for a negative effect resulting from outside forces.
"We are also finding more dual occupancy and ad-hoc boarding or student style housing that do have higher yield potential. But on the back of this greater reward comes the potential for problems which can include planning, zoning and ongoing maintenance issues. "
At any stage the property could become non-compliant with costly remediation works on the cards to rectify the issues, the report warns.
It notes any unplanned costs associated with investment properties is never ideal and something that needs to be factored into any planning for would be investors.
"We’ve seen plenty of new construction in the area to include a main house at the front of the site with a newly constructed granny flat at the rear. These are becoming common sights during our valuation runs," the valuation firm added. 
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Newcastle upper end market sees 6% and above yields: HTW residential 

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There have been no sales of larger industrial sites of any note in the area in recent months, according to the latest report from valuation firm Herron Todd White.
The report found that given this, they took look at the sale of a large parcel of industrial land located close to the port and CBD.
The property, known as 110 Elizabeth Street, Tighes Hill is a 3.45 hectare parcel of remediated industrial land. The property is located at the corner of a major industrial intersection and has a frontage of almost 500 metres to the Industrial Highway.
The property was sold in April 2019 for an undisclosed sum.
The HTW valuers said, "we note that there is currently a DA with council for a service station which will take up approximately 6,000 square metres at the Elizabeth Street elevation. For the remaining parcel, the initial plan is for a multi-unit retail warehouse development."
"The proposed development will comprise three lots with up to 17 units ranging from 110 to 800 square metres approximately. The development also includes significant common area parking and a car wash facility. This project will be an industrial retail park and will be the only development of its type this close to the CBD," they added.
It’s likely that these units will attract strong demand from a variety of industrial retailers as well as general warehouse users.
Proximity to the CBD and Newcastle Port as well as having direct access to the Industrial Highway, which essentially links the CBD to the Pacific Highway, will be attractive features to tenants.
The report authors also said, "with the continuing development of the Honeysuckle precinct as well as new residential developments in Wickham and limited bulky goods retailers nearby, this creates a good opportunity for a range of tenants."
"The effect on rents that this development will have is difficult to ascertain until the mix of tenants is more obvious, however the proximity to the CBD and services would indicate a medium to high level of demand, and we would expect lease terms of three years and above as tenants look to secure longer term tenancies," they concluded.
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Newcastle industrial market sees no large scale sales: HTW Industrial

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Office investment activity in Newcastle has been fairly subdued over the past 12 months, according to the latest report from valuation firm Herron Todd White.
The property valuation firm said the outlier was the headline grabbing sale of 18 Honeysuckle Drive, Newcastle (pictured) to IOOF Investment Management Ltd for a reported sum of $52.2 million of course, A record for office property in the city.
Colliers International describes the property as, “an A Grade, seven-level commercial building completed in 2017 that provides investors with a top tier asset featuring outstanding investment credentials."
"The 6,524 square metre building is 100% leased to a diverse list of corporate and Government tenants. Plus it is well-positioned in the prominent Honeysuckle harbour front precinct of the Newcastle CBD."
The property was designed to meet a 4.5-star NABERS energy rating and was awarded a 5-Star Green Star rating.
The sale reflects an approximate yield of 6.2% and reflects the continuance of low yields for well positioned and occupied investment stock in the current market.
A-grade vacancy remains at historic lows and with major office developments around the Wickham transport interchange being built fully or majority pre-committed, this vacancy rate will remain low for some time, the report concluded.
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Newcastle office market remains subdued: HTW Commercial 

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The upturns in Newcastle and Wollongong lagged the Sydney market and prices have also held up better through the Sydney market downturn, according to the latest BIS Oxford Economics Residential Property Prospects 2019 to 2022 report. 
The report suggests the upturns have been partly supported by stamp duty exemptions being offered for first home buyers on purchases under $700,000.
Being closer to Sydney, the price falls will reduce trade-down activity into Wollongong.
Associate Director and report author, Mr Angie Zigomanis said, “Wollongong is closer to Sydney and prices have moved more in tandem as people in Wollongong have the ability to commute to Sydney."
"Newcastle is further away and the property market is more reliant on the local economy, which was hampered during the Sydney upturn by a fall in coal investment."
"It therefore didn’t have the upturn of Sydney and so has not really had much of a correction."
"It also means that there is more upside to prices because it is now more affordable relative to Sydney and therefore attractive for people to move north as the local economy improves, and it is also starting from a lower base," he stated.
The firm said the Wollongong median house price is forecast to rise by 5% in the three years to June 2022.
In comparison, greater affordability in Newcastle is likely to provide more upside, with an aggregate 9% rise forecast.
After an estimated 18% decline in the median house price in Sydney in the two years to June 2019, house price growth is expected to stabilise through 2019/20 as affordability improves and credit conditions ease.
A total rise of <a href="/expert-insights/buying/sydney-median-house-price-expected-to-rise-6-by-2022-bis-oxford-economics">6% is forecast for Sydney’s median house price</a> in the three years to June 2022.
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Newcastle and Wollongong residential markets performing well: BIS Oxford Economics  

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Despite initial fears, prices haven’t taken a huge tumble within the Newcastle and Hunter Region, according to the latest Herron Todd White (HTW) residential report. 
The report notes that the Newcastle property market hasn’t seen the huge falls in prices some capital cities have.
"Typically, the property market works in cycles and via our Herron Todd White property clock, we have indicated that our region is now in decline, but this is off the back of solid increases in property prices throughout the past few years," the valuation firm said. 
"This type of growth cannot be economically sustained and thus the real estate market can be seen as correcting itself.
"We have also noted that many buyers in our local area are finding themselves with more choice and much less pressure to make an offer. There are no longer three people in line ready to make an offer on the same property.
"You will find the well-priced and quality properties in preferable locations are still selling well despite all the talk of declining prices.
"These quality properties become the standout in these conditions and the gap widens between primary and secondary properties.
"We’ve also identified that suburbs which were previously out of the budget of buyers are now becoming more attainable."
Previously some buyers who were looking at outer suburbs such as Highfields and Kahibah can now expand their search areas without expanding their price bracket much to include suburbs closer to town such as Adamstown, Kotara and some areas of New Lambton.
The typical blue-collar suburbs including Merewether, Cooks Hill and Bar Beach are just as popular as ever, but prices are softening in these suburbs.
The more affordable first home buyer suburbs such as Mayfield, Hamilton North, Waratah and some properties in Tighes Hill are also softening, but here the quality properties are constantly selling quicker than others on the market.
"Interestingly, there are still many record-breaking sales happening across Newcastle," the report noted.
It referred to a recent sale in Adamstown Heights.
Renovated with the help of a local architectural firm, this large family home (pictured below) sold for $2.15 million in March 2019.
The property at<a href="https://www.realestate.com.au/sold/property-house-nsw-adamstown+heights-130488002" target="_blank"> 3 Ragan Close</a> has five bedrooms, three bathrooms and two car spaces with a large backyard and swimming pool.
<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/2019/6/25/adamstown%20heights.jpg" alt="">
There has been another sale of a renovated Federation home in the much sought after suburb of Hamilton South.
The auction sale has become the suburb’s second highest recorded sale at $2.25 million.
The agents originally stated a price guide of $2 million to $2.2 million.
The property at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamilton+south-130934446" target="_blank">72 Gordon Avenue </a>(pictured below) is well-known in the area for its restored Federation features and large corner block location.
It comes with four bedrooms, three bathrooms, two car spaces and a large swimming pool and outdoor entertaining area.
<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/2019/6/25/hamilton%20south%201.jpg" alt="">
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Newcastle residential market in decline, but losses limited: HTW

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GUEST OBSERVATION
The Newcastle Herald has won eight Walkley awards for journalistic excellence over the past seven years. This includes a Gold Walkley for the groundbreaking reportage that led to Australia’s royal commission into institutional responses to child sex abuse. It has told stories of national and international importance.
But this local newspaper, serving the NSW regional city of Newcastle and the surrounding Hunter region, is not profitable enough for Nine Entertainment Co, which acquired it in the takeover of Fairfax Media last year.
Nine has offloaded it and the rest of Fairfax’s Australian Community Media (ACM) division, comprising about 160 regional news titles, 130 community-based news websites and 650 editorial staff.
But this is the best news the staff of the Newcastle Herald have had for a long time. There’s a cautious optimism among both staff and readers that the newspaper (which began as the Newcastle Chronicle and Hunter River District News in 1858) could undergo – like the city itself – revitalisation.
Cautious optimism
<img src="https://images.theconversation.com/files/272289/original/file-20190502-103063-pwor6g.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
The Newcastle Herald, Saturday December 8, 2018. The Newcastle Herald
The new owner is a consortium of former Fairfax real estate supremo Antony Catalano and the Thorney Investment Group, a company that “concentrates on producing <a href="https://www.thorneyopportunities.com.au/news-announcements" target="_blank">absolute returns for shareholders</a> over the medium to long term”.
Catalano has said he plans to “grow the business, not shrink it to greatness”. He has assured Herald staff that he is about “hiring, not firing”. That’s comforting following cutbacks and two brutal rounds of redundancies in the past seven years.
Yet these inspiring assurances may prove hard to keep.
Newspapers – and journalism more generally – still face structural headwinds. Neither platform prophets nor philanthropists have found a dead-cert solution to the dried-up rivers of gold once richly fed by classified and display advertising streams.
The ACM division is still profitable, but its revenue in the first half of the 2019 financial year was down 8% on the previous year (A$194.1 million, against A$212.1 million), with advertising revenue down 13% (to A$121.2 million).
So optimism about the benevolence of the Herald’s new owner must be cautious indeed.
Benefiting the community
<img src="https://images.theconversation.com/files/272273/original/file-20190502-103049-1hdomjp.png?ixlib=rb-1.1.0&amp;rect=27%2C22%2C1496%2C2129&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="" width="235" height="334">
The Newcastle Herald, Monday, October 22, 2018. The Newcastle Herald
But optimistic we must be. Research provides empirical evidence to support just how important a local newspaper is to a local community.
According to a US study published in the <a href="https://www.cjr.org/united_states_project/public-finance-local-news.php" target="_blank">Columbia Journalism Review</a> in 2018, local government becomes more wasteful without a local newspaper.
The researchers compared local government costs in counties where a newspaper had closed with demographically comparable counties still with a newspaper. It’s evidence media scrutiny is essential to governments being kept accountable.
Local media coverage is also associated with better informed voters and higher voter turnouts, the study’s authors suggest.
Good local journalism sees, knows and cares about the local community. It reflects that community’s history, present and where its future might lie.
Setting the agenda
This is certainly the case with the Newcastle Herald.
Newcastle is the nation’s second-biggest non-capital city, with a population of about 325,000; the population of the Greater Hunter Region is about 625,000. The Newcastle Herald is the only newspaper serving the region six days a week.
As such the newspaper plays a significant role in setting the news agenda for other local media.
Journalists and production staff at remaining commercial news outlets in Newcastle all operate – in the words of one senior newsroom contact – on the smell of an oily rag. Repeated savage cuts and increased networking have played their part in reducing commercial radio bulletins to rip-and-reads of the day’s Herald. Even the ABC has decreased the number of local radio bulletins it provides.
The Newcastle Herald clearly influences the city’s only local commercial television news bulletin (from NBN Television, owned by Nine Entertainment).
Local, original stories
The Herald has maintained its relevance largely because of the local, original stories it has pursued. It has done this despite its own newsroom being slashed, with a third of the journalists it had seven years ago.
Its much admired reporting on child sexual abuse (the Catholic diocese of Newcastle-Maitland was a hotspot of crimes and cover-ups) is just one example.
The paper has also led the way with coverage of the <a href="https://www.theherald.com.au/story/5309813/a-catastrophe-for-some-women-pelvic-mesh-report/" target="_blank">medical traumas of local women</a> that propelled a <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Community_Affairs/MeshImplants" target="_blank">Senate inquiry</a> into pelvic mesh devices in 2017.
It also exposed the story of Cabbage Tree Road, a cluster of 50 cancer cases near a drain carrying toxic chemicals from the Williamtown RAAF base. The Herald’s reporting came from journalists knocking on the door of every home on the road. (The NSW Health Department <a href="https://www.theherald.com.au/stry/5229588/outcry-as-study-dismisses-williamtowns-cancer-cluster-fears/?cs=6099" target="_blank">has dismissed</a> there being a link.)
Investigative journalism is expensive to produce. No other local commercial outlet in the area has the resources to do public-interest and accountability journalism. They all rely on the Newcastle Herald to set the agenda.
For the good of Newcastle and dozens of other local regional and rural communities, we can only hope the Herald’s new owner can do better than its last.<img src="https://counter.theconversation.com/content/116276/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Paul Scott, Lecturer, School of Creative Industries, Faculty of Education and Arts, University of Newcastle
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-a-local-newspaper-means-to-a-regional-city-like-newcastle-116276" target="_blank">original article</a>.
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