ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Broken Hill

<html><body>
Hi Margaret,
I'm currently looking to get an investment property in Broken Hill for $69000 which is currently tenanted and is rented out for $180 a week.
 I want your opinion on whether or not it's a good investment as the rent from it is more then double the repayments. 
And it got tenanted within about three weeks of being advertised for rent.
Thanks,
Marcus
 
Hi Marcus,
It can be very tempting to invest in a property whereby the rent more than covers the cost of the mortgage on it. Cash flow is a very important aspect of property investing, as when a property can cover its own expenses and loan interest, then you only have to worry about getting a tenant in.
However, I urge you to think about an investment such as this one over the long term, and understand that capital growth is equally important in every investor’s strategy.
Over the past 5 years, the median value of Broken Hill has decreased by an annual compounding rate of -0.7%. Over the past 10 years it has had an average annual growth of -2.6%
Let’s imagine the next 10 years brings the same result. Your $69,000, after 10 years, would be worth $56,000, having lost for you $13,000 in that time. Sure, you haven't had to put in any money along the way, but if you have borrowed to buy this property, you are in the red by $13,000.  Even if, during that time, you paid of a chunk off the mortgage, the overall outcome has been a negative one, and not the kind of result we would like to see in a sound strategy.
In addition to being able to find a property which has a good enough rental yield to be able to cover its own expenses, the area must have growth drivers. Towns like Broken Hill have a notoriously bad track record for growth, due to itinerant population, lack of infrastructure and lack of population growth.  
When you become a property investor, price should not be the driving factor. You must also understand that growth has no relationship to the price you pay for a property. You would be far better to pay, say, $350,000 in an area that has all of the growth drivers, and get only a 5% return, than you would spend less in an area with a 10% rental return but a negative growth figure. Over time growth compounds so that, by the time you get to retirement, the property is worth far more than the bank loan on it, and the difference belongs to you. Do this often enough and you build a great net worth.
The final point to make is that, when a property loses value, your ability to leverage is also lost. Buying properties which grow means that you can, in the future, borrow against that growth to add more properties to your portfolio. When a property loses value, it’s harder to do this unless you are paying significantly more than the loss off the mortgage. If you cannot leverage into more property, then you cannot build a larger portfolio, and it’s really only through building a portfolio, rather than owning one or two properties, that you really start to see the value in property investing.
Stick to properties in areas with significant infrastructure development, a growing population and lots of families, and you will do far better with your property investing.  
Kind regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: Should I invest in a tenanted property?

<html><body>
Broken Hill had the state’s cheapest October auction offering — which was snapped up for $35,000 by an investor who will flip the mining town cottage.
The onsite auction had just the two phone bidders for what First National agent Mitchell Halpin marketed as “a renovators’ delight”.
Offered under instructions from the NSW Trustee &amp; Guardian, the three-bedroom cottage came with outdoor toilet and laundry.
The home also has a new roof, which cost about $25,000 after the 2016 hailstorm.
Broken Hill is one of the most active housing markets in NSW with 200-plus sales so far this year.
Prices start at $30,000 and have fetched $521,000.
The local buyers and occupants come especially from the teaching, mining and medical professions.
The big property sales this year have been retail offerings.
The Harvey Norman store fetched at $1.09 million, reflecting a 9.9% yield, and the KFC premises sold at $1.2 million.
The Catholic Church spent $850,000 to buy back the former St Joseph’s Convent after a four-decade gap.
This article first appeared in The Daily Telegraph.  
</body></html>

j.ballantyne1990-6AQqhLzZaK

$35,000 Broken Hill cottage ranks as cheapest weekend sale

<html><body>
The former St Joseph’s Convent of Mercy – The Old Convent - in Broken Hill is set to be auctioned by Colliers International. 
The property, located at 232 Lane Street, Broken Hill is a key part of the area’s history.
At its peak, St. Joseph’s Convent of Mercy was home to over 70 nuns, boasting a school for girls and boarding facilities and was the main convent in the area.
After being destroyed by a fire in 1979, the prominent heritage asset received extensive restoration and renovation. 
The L-shaped parcel of land, with dual frontages onto Lane Street and Sulphide Street has a substantial site area of 6,350 square metres.
It is expected to sell for upwards of $1 million. 
“This is a prime re-positioning opportunity for the complex which comprises six separate buildings including 11 self-contained residential units, an auditorium, function room, commercial grade kitchen and generous on-site parking,” said Clarence Chan at Colliers International.
The property is 900 metres north-west of Broken Hill’s main Town Centre and 1 kilometre from the Broken Hill Railway station. 
The Old Convent, Broken Hill will be auctioned on May 9.
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Broken Hill's Old Convent to go under the hammer

<html><body>
Big W has left Broken Hill following closure of its store in Westside Plaza, owned by the shopping centre Sentinel Property Group.
Its managing director Warren Ebert said Sentinel had offered numerous solutions to Big W but the retailer decided not to take up an option to extend its long standing lease. 
“We offered to reduce their rent, decrease their space and numerous other solutions but they just didn’t want to talk to us.
“Big W has gone and left the regional centre of Broken Hill in the lurch with its decision to close its store.”
Mr Ebert said Sentinel has received significant interest from other national retailers in taking over the space.
Westside Plaza is part of the Sentinel Countrywide Retail Trust, having cost $33.7 million in 2015. Acting on behalf of Federation Centres, Steven Lerche, Rino Carpinelli and Peter Isaksson of Savills Retail Investment Sales sold the centre following a national expressions of interest campaign to Sentinel.
Westside Plaza in Broken Hill was Sentinel's second sub-regional shopping centre purchase.
It features a total lettable area of 17,400sqm. It had a 98% occupancy rate on acquisition dominated by national tenants including Woolworths, Big W, Dick Smith, Best &amp; Less, Priceline, Prouds, NAB, McDonalds
</body></html>

Big W quits Sentinel's Broken Hill property

<html><body>
Broken Hill has the highest house rental yield in New South Wales, according to Real Estate Investar’s latest report.
The property investment firm says that Broken Hill’s house rental yield is 10 percent.
This is followed by Kincumber with 8% and Coonamble, Wellington, Condobolin and North Albury with 7 percent.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="85">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="117">
Current median rent
</td>
<td valign="top" width="79">
Rental yield
</td>
</tr>
<tr>
<td valign="top" width="85">
Broken Hill
</td>
<td valign="top" width="64">
2880
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$200
</td>
<td valign="top" width="79">
10%
</td>
</tr>
<tr>
<td valign="top" width="85">
Kincumber
</td>
<td valign="top" width="64">
2251
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$365
</td>
<td valign="top" width="79">
8%
</td>
</tr>
<tr>
<td valign="top" width="85">
Coonamble
</td>
<td valign="top" width="64">
2829
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="117">
$200
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="85">
Wellington
</td>
<td valign="top" width="64">
2820
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$185
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="85">
Condobolin
</td>
<td valign="top" width="64">
2877
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="117">
$240
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="85">
North Albury
</td>
<td valign="top" width="64">
2640
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$240
</td>
<td valign="top" width="79">
7%
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-414321527" target="_blank">307 Piper Street</a>, Broken Hill (above) is available for $190 per week.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-414377291" target="_blank">80 Gaffney Lane</a>, Broken Hill (below) is available for $200 per week.
It last sold in 2016 for $46,500, reflecting a 22% rental yield.
<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/2017/07/21/80%20Gaffney%20Lane.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-125288174" target="_blank">295 O'Farrel Street</a>, Broken Hill (below) was sold in July this year for $80,000, reflecting a 13% rental yield.
<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/2017/08/03/295%20OFarrell%20Street.jpg" alt="">
Another two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-125059282" target="_blank">41 Thomas Lane</a>, Broken Hill (below) was sold in July this year for $65,000, reflecting a 16% rental yield.
<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/2017/08/03/41%20Thomas%20Lane.jpg" alt="">
</body></html>

Broken Hill the highest NSW house rental yield: Investar

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The total land value for the Western region has increased strongly over the period to 1 July 2016 by 16.4 percent from $2.09 billion to $2.43 billion, according to the latest report from the Valuer-General.
The Report on NSW Land Values at 1 July 2016 found that industrial (15.6 percent) and rural (24.5 percent) land values saw the largest increases, while residential and commercial land values remained generally steady. Good seasonal conditions and high livestock and commodity prices have been the main drivers for land value increases.
Overall residential land values were steady at -1.5 percent. Central Darling (15.2 percent) showed a strong increase in land values while the LGA of Wentworth (7.8 percent) showed a moderate increase. Broken Hill LGA (-11.6 percent) showed a strong decrease due to a downturn in the local mining industry.
Commercial land values remained steady across the region, with the exception of Central Darling which showed a significant increase. The increases in Central Darling (155 percent) are generally small in dollar terms for example, increases in land values from around $900 to $2200.
Industrial land values showed strong increases of 15.6 percent across the region, with the exception of Wentworth LGA (4.8 percent), which showed a slight increase, Bourke LGA which remained steady and Cobar LGA (-10 percent) which showed a moderate decrease.
Rural land values for the Western region increased by 24.5 percent. The exceptions were Balranald (2.0 percent) and Wentworth (4.8 percent) LGAs, which only increased slightly and Broken Hill, which remained steady.
For more information including interactive online land value summaries for all LGAs and 14 regions covering the state go to <a href="https://www.valuergeneral.nsw.gov.au" target="_blank">www.valuergeneral.nsw.gov.au</a>.
<a href="https://www.propertyobserver.com.au/images/2017/01/25/nse-12.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/2017/01/25/nse-12.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Mixed story for Western land values despite strong growth: NSW Valuer-General

<html><body>
Broken Hill is the cheapest place to purchase a house in New South Wales, according to Investar’s latest report.
The property investment firm says the average price of a house in Broken Hill is $102,000.
This is followed by Wellington with $139,500 and Coonamble with $140,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="69">
Suburb
</td>
<td valign="top" width="57">
Postcode
</td>
<td valign="top" width="60">
Bedrooms
</td>
<td valign="top" width="117">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="69">
Broken Hill
</td>
<td valign="top" width="57">
2880
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$102,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Wellington
</td>
<td valign="top" width="57">
2820
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$139,500
</td>
</tr>
<tr>
<td valign="top" width="69">
Coonamble
</td>
<td valign="top" width="57">
2829
</td>
<td valign="top" width="60">
3
</td>
<td valign="top" width="117">
$140,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Deniliquin
</td>
<td valign="top" width="57">
2710
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$149,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Cowra
</td>
<td valign="top" width="57">
2794
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$159,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Junee
</td>
<td valign="top" width="57">
2663
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$159,000
</td>
</tr>
</tbody></table>
A two bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-124282206">325 Wandoo Street</a> in Broken Hill (above) is listed for sale for $108,000 through LJ Hooker.
A two bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-123876202">218 Cornish Street</a> (below) is listed for sale for $107,000. It hit the market at $170,000 in late 2015.
<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/2017/01/11/218%20Cornish%20Street.jpg" alt="">
A house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-122329398" target="_blank">140 Bromide Street</a> (below) sold for $107,000 having last traded for $100,000 in 2014, showing 2.9 percent annual price growth.
<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/2017/01/20/140%20Bromide%20Street.jpg" alt="">
A two bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-124304338" target="_blank">54 Thomas Street</a> (below) was recently sold for $130,000. Set on over 1,000 sqm, the home last sold for $37,000 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/2017/01/20/54%20Thomas%20Street.jpg" alt="">
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Where $102,000 can buy you a home in NSW: Investar

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Broken Hill's council-owned film studios, the disused Central Power Station, gifted by mining company Perilya in 2010 has been sold for $680,000 to a married couple.
Selina LaRovere-Nagas and Fisk Nagas purchased the 2.5-hectare site.
The council and state government sunk $2 million into the project for use in the George Miller movie Mad Max Fury Road, however rain forced production to move to Namibia.
Broken Hill mayor Wincen Cuy told ABC News said offloading the film studio was more important for council's financial health than getting a high offer.
"Would I do anything different? No, but it's time to move on and see where we can go from here," he said.
"I think there's probably something like $260,000 worth of depreciation per annum on that.
"If we can get rid of that, that comes off our books immediately and then we start trading a little bit closer to a break-even situation."
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Broken Hill film studios sold off

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NSW’s Broken Hill has the highest mortgage arrears in the country followed by Queensland’s Armstrong Beach, followed by South Australia’s Currency Creek and Butler in Western Australia, according to S&amp;P.
“Mortgage delinquencies in regional areas traditionally have outpaced metropolitan areas,” the latest report said.
“This often has been the case because regional centres are more vulnerable to a downturn.”
Erin Kitson, an analyst for S&amp;P, says that mining and manufacturing regions, especially those in Queensland and Victoria, are struggling due to job losses.
The Australian also noted that Geelong was experiencing a sharp increase in mortgage arrears rate due to job losses.
<table style="height: 150px; width: 496px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="38">
State
</td>
<td valign="top" width="96">
Suburb
</td>
<td valign="top" width="113">
Loans in arrears (%)
</td>
</tr>
<tr>
<td valign="top" width="38">
NSW
</td>
<td valign="top" width="96">
Broken Hill
</td>
<td valign="top" width="113">
                           8
</td>
</tr>
<tr>
<td valign="top" width="38">
QLD
</td>
<td valign="top" width="96">
Armstrong Beach
</td>
<td valign="top" width="113">
                           7
</td>
</tr>
<tr>
<td valign="top" width="38">
SA
</td>
<td valign="top" width="96">
Currency Creek
</td>
<td valign="top" width="113">
                           5
</td>
</tr>
<tr>
<td valign="top" width="38">
WA
</td>
<td valign="top" width="96">
Butler
</td>
<td valign="top" width="113">
                           5
</td>
</tr>
<tr>
<td valign="top" width="38">
QLD
</td>
<td valign="top" width="96">
Bucasia
</td>
<td valign="top" width="113">
                           4
</td>
</tr>
<tr>
<td valign="top" width="38">
QLD
</td>
<td valign="top" width="96">
Blenheim
</td>
<td valign="top" width="113">
                           4
</td>
</tr>
<tr>
<td valign="top" width="38">
WA
</td>
<td valign="top" width="96">
Maddington
</td>
<td valign="top" width="113">
                           4
</td>
</tr>
<tr>
<td valign="top" width="38">
QLD
</td>
<td valign="top" width="96">
Emerald
</td>
<td valign="top" width="113">
                           4
</td>
</tr>
<tr>
<td valign="top" width="38">
TAS
</td>
<td valign="top" width="96">
Dowsing Point
</td>
<td valign="top" width="113">
                           4
</td>
</tr>
<tr>
<td valign="top" width="38">
QLD
</td>
<td valign="top" width="96">
Alexandra
</td>
<td valign="top" width="113">
                           4
</td>
</tr>
</tbody></table>
“The non-metropolitan regions of Australia tend to have economies which are less diverse compared to metropolitan areas, which means if you lose your job in Wide Bay there are going to be less opportunities than if you lost your job in Sydney or Melbourne.”
The number of regional homeowners in arrears has increased by 18% in the past year compared with only 2 percent for metropolitan mortgagees.
The percentages of loans in arrears in the most affected postcodes are 8.27 percent in Broken Hill, 7.42 percent in Armstrong Beach, 5.44 percent in Currency Creek, and 5.43 percent in Butler.
 
 
 
 
</body></html>

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