Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

Joel Robinson

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

Broken Hill

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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?

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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.  
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j.ballantyne1990-6AQqhLzZaK

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

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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

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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
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Big W quits Sentinel's Broken Hill property

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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="">
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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

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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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