Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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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

Coffs Harbour

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The Coffs Harbour residential market is going through one of its strongest times, according to Herron Todd White’s recent report.
The property valuation firm says that demand for residential properties in Coffs Harbour is exceeding supply shortening selling periods and increasing values.
“The Coffs Coast is experiencing one of its strongest markets in recent times with demand exceeding supply in many areas which has resulted in shortened selling periods and substantial increases in values.
"Typically it is the affordable price point in the sub $550,000 market which has seen the strongest demand from both owner occupiers and investors, however market confidence has spread through all sectors of the market including rural residential which has seen a recent resurgence in demand,” the report stated.
Factors such as low cost of finance, population and limited stock is driving this growth in the area according to Herron Todd White.
“There are several factors driving the market including low cost of finance, increasing population due to lifestyle benefits for both retirees and families moving from southern regions, infrastructure upgrades in the form of the Pacific Highway, limited available stock for vacant land and diversity of housing product ranging from coastal to rural communities with good access to regional facilities provided at Coffs Harbour.
"To a lesser degree investors are being driven towards SMSF property investment and with the ALP pushing for restrictions on negative gearing, this may be driving investors to enter the market prior to possible changes to tax benefits.
"A major factor in the cooling of the market will be rising interest rates which will dampen long term consumer confidence, however continued population growth should see demand remain strong against the current limited supply.
"Wage growth is also an issue.
"With the exception of the public sector, wage growth and employment are not rising at the same rate as property prices.
"This will affect the affordability of property within regional localities which has traditionally been a major factor in deciding to relocate to regional New South Wales,” the report advised.
A two bedroom villa at <a href="https://www.realestate.com.au/property-villa-nsw-coffs+harbour-125308906" target="_blank">2/12 Pitt Street</a>, Coffs Harbour (above) has been listed for $332,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moonee+beach-125217646" target="_blank">10A Moonee Creek Drive</a>, Moonee Beach (below) has been listed for $515,000.
<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/2017/05/16/10A%20Moonee%20Creek%20Drive.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-coffs+harbour-125325914" target="_blank">29 Masonary Road</a>, Coffs Harbour (below) was recently sold for $340,000.
<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/2017/05/16/29%20Masonary%20Road.jpg" alt="">
Similarly a two bedroom villa at <a href="https://www.realestate.com.au/sold/property-villa-nsw-sawtell-125256346" target="_blank">2/49 Eighteenth Avenue</a>, Sawtell (below) was recently sold for $365,000.
<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/2017/05/16/2_49%20Eighteenth%20Avenue.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Coffs Harbour residential market the strongest in recent times: HTW

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There has been limited sales activity within Coffs Harbour’s retail market as property within the CBD is tightly held and rarely offered, according to Herron Todd White’s (HTW) latest report.
The property valuation firm says that this is despite there being a prevailing high vacancy rate within the prime strip centre.
Many retailers are finding it difficult to meet overheads.
"There is a trend for affordable retail rental space outside prime locations, however overall vacancy rates remain high for retail space," the report said.
"The high vacancy rate in the CBD is due to the difficult local economy with limited consumer discretionary spending, the reluctance of landlords to reduce rents or meet the market and the poaching of tenants by the Central and Plaza Shopping Centres.
"There is steady demand for the purchase of retail property emanating from investors against a shortage of supply in recent times."
The Gowings Central shopping centre development and the eastern end of the CBD appears to be trading well after the upgrade transformation.
The renovated ex-CBA bank building has increased the appeal and feel of this end of the retail precinct, HTW said.
Gowings are proposing an extension to the retail centre to office and hotel accommodation.
"Retail yields are generally in the 6% to 8% range depending on tenant, lease terms, location and property detail," said the report.
"Grafton commercial retail market displays higher investment yield rates.
"Yields are generally within the 7% to 9% range.
"The market remains steady with a slight uplift in the local economy.
"Nambucca and Macksville retail centres appear steady with some vacancy but improved local economy due to the Pacific Highway relocation works and associated workforce."
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Limited sales activity in Coffs Harbour retail market: HTW

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There is a shortage of rental units available relative to demand in Coffs Harbour, according to Herron Todd White’s latest report.
The property valuation firm says that Coffs Harbour has a steady rental vacancy trend with a strong demand for new units.
<a href="https://www.propertyobserver.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%201.13.06%20pm.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/2017/02/10/Screen%20Shot%202017-02-10%20at%201.13.06%20pm.jpg" alt="">
This is supported by an increasing trend in new units being constructed as well as a steady volume of unit sales.
Coffs Harbour unit market is at its peak and new properties are occasionally being sold at prices that exceed their potential resale value.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-418533814" target="_blank">13/27 Victoria Street</a>, Coffs Harbour (above) is available for rent for $255 per week.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-407605913" target="_blank">1/8 Toormina Place</a>, Coffs Harbour (below) is available for rent for $295 per week.
<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/2017/03/21/1_8%20Toormina%20Place.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-124804886" target="_blank">5/32 Karuah Avenue</a>, Coffs Harbour (below) has been listed for $285,000.
<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/2017/03/28/5_32%20Karuah%20Avenue.jpg" alt="">
Similarly a two bedroom unit at<a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-124994266" target="_blank"> 1/39 York Street</a>, Coffs Harbour (below) has been listed for $230,000.
<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/2017/03/28/1_39%20York%20Street.jpg" alt="">
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Coffs Harbour experiences shortage of units as demand increases: HTW

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Apartments in the Central and North Coast of New South Wales, the Gold Coast, Coffs Harbour and Melbourne are at market peak in February, according to the latest property clock from Herron Todd White. 
Units in Adelaide, Darwin, Townsville and Whitsundays are at the bottom of the market.
Coffs Harbour's residential units were peaking in January. 
<a href="https://www.propertyobserver.com.au/images/2017/02/01/Screen%20Shot%202017-02-01%20at%2012.57.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/01/Screen%20Shot%202017-02-01%20at%2012.57.48%20PM.png" alt="">
 
Property Observer found this two bedroom apartment, <a href="https://www.realestate.com.au/property-unit-nsw-sawtell-124657638" target="_blank">9/69 Boronia St Sawtell</a> (below) listed for sale for $345,000. It last traded for $195,000 in 2013.
<img src="https://www.urban.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%2011.07.18%20AM.png" alt="">
A two bedroom apartment, <a href="https://www.realestate.com.au/property-apartment-nsw-coffs+harbour-124474918" target="_blank">2/4 Solitary St Coffs Harbour</a>, (below) is on the market for $395,000, having last sold for $308,500 in 2007.
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<h1><img src="https://www.urban.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%2011.10.26%20AM.png" alt=""></h1>
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-coffs+harbour-124425778" target="_blank">20/22 Orlando Street</a> (below) that has been listed for sale for $615,000.</div>
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<div>It last sold for $395,000 in 2013.</div>
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<div><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/2017/06/20_22%20Orlando%20Street.jpg" alt=""></div>
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Apartments along NSW coastline top of February property clock: HTW

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Coffs Harbour's residential units property market is currently peaking, according to Herron Todd White's latest report.
Property data firm CoreLogic says that the average median price of a unit in Coffs Harbour is $295,750 with an annual growth of 3 percent.
Units in Coffs Harbour on average stay on the market for 84 days before being sold.
<a href="https://www.propertyobserver.com.au/images/2017/01/10/Screen%20Shot%202017-01-10%20at%201.34.50%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/10/Screen%20Shot%202017-01-10%20at%201.34.50%20PM.png" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-124395934" target="_blank">9/20 Joyce Street</a> (above) has been listed for sale for $279,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-124067646" target="_blank">5/28 Fitzgerald Street</a> (below) has been listed for sale for $255,000.
<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/2017/01/13/5_28%20Fitzgerald%20Street.jpg" alt="">
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Coffs Harbour residential units peaking on HTW property clock

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The Coffs Coast district has a fairly low economic base with a limited amount of high paying work available, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that the majority of the pressure for property is on the affordable sub-$500,000 sector.
At this price point, the majority of purchasers are investors and first home buyers or to a lesser extent people locating to the area.
Rental demand is high which translates to strong rental returns making Coffs Harbour an attractive place for investors.
Typically Coffs has been a fairly transient community which is why rental demand is high.
Recent major infrastructure upgrades primarily centred around the Pacific Motorway to the north and south of Coffs has seen a steady influx of road workers over the past five to 10 years.
These workers are transient and slowly moving away from Coffs Harbour currently working to the north on the Corrindi Beach to Ballina upgrade and south at Warrell Creek.
Although this demand is slowly shifting away the planned Coffs Harbour bypass which is expected to start some time in the next five to six years will see these workers returning and increasing pressure on future rental demand.
HTW observed that homes under $500,000 are still reachable in Coffs Harbour.
"What do we expect to buy for under $500,000?" the report asked. "Increasingly less for your money, however, the median price for a home is currently around $430,000 which buys you a three to four bedroom home, probably in the 10 to 40 year age bracket and located within good proximity of beaches, schools and all major services."
There is a vast array of properties available for sale within the Coffs Coast region however more affordable localities can offer the same type of property for less.
For example, for the same three to four bedroom home in Nambucca Heads to the south, you will be looking to pay around the $330,000 mark. One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-nambucca+heads-123335334" target="_blank">41 Old Coast Road</a> (pictured above) that was for sale for $330,000 and sold at $325,000.
Conversely, HTW advised the slowest price point is the prestige market ($1 million plus) which is dependent upon high net wealth individuals.
These are limited in the local market with prospective purchasers generally coming from Sydney or out of town.
The difficult global economic conditions over the GFC period resulted in a reduced number of buyers seeking properties in this value range and location.
There are positive signs that the market has turned upwards for prestige property with improved conditions over 2016.
Sales activity for residential product between $1 million and $1.3 million increased although property over $1.5 million is still thinly traded with selling periods in excess of 12 months generally expected.
This market improvement is being experienced in the more traditional sought after beach locations such as Sawtell, The Jetty, Diggers Beach, Korora, Sapphire Beach and Woolgoolga.
Herron Todd White noted that Coffs Harbour's market is largely dependable upon economic conditions in NSW.
"We note this market is dependent upon the greater economic conditions throughout New South Wales and more specifically the metropolitan markets at the time of sale," said the report.
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High rental demand makes Coffs Harbour an attractive investment: HTW

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A state-owned development site near Coffs Harbour’s marina has sold unconditionally for $3 million despite the local council pushing for a heritage listing. 
The 3,181 sqm corner block in the city’s popular jetty and foreshore precinct houses a three-storey office building along with three smaller office facilities totalling a building footprint of 731 sqm.
The purchaser, a private investor, plans an apartment complex at the site which was home to the NSW Forestry Corporation for more than 70 years. 
It holds a mixed use business zoning which is code assessable for six storeys in height and nearly 9,500 sqm of floor space.
<img src="/images/2016/09/16/CoffsHarbour2.jpg" alt="">
LJ Hooker Commercial’s Troy Mitchell, who secured the deal with Deb Grimley, said the site’s claim for heritage status was in doubt.
“The site has a 1940s building which has been subjected to discriminate works by various contractors over its time, including being re-clad in aluminium.
“The heritage values are questionable. There is a series of artworks in the building which are the property of the Forestry Corporation and once those works are relocated, I think the lack of heritage character in the building will be evident.”
Mitchell said the purchaser was confident of dismissing any heritage application for the site and was currently completing the development application for lodgement in 2017. 
The purchaser and NSW Forestry Corporation have agreed to a 12-month leaseback as part of the negotiation at $75,000 per annum plus GST
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Coffs Harbour site sells for $3 million despite heritage push

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The actor Simmone Jade Mackinnon, popular for her role as Stevie Hall on the hit TV show McLeod's Daughters, has finally sold her Coffs Harbour district property for $910,000.
Joanna Vines at One Agency Coffs Harbour secured the sale of the home that was originally listed with $949,000 hopes over a year ago.
It is a four bedroom 1992-built stylish Queenslander home at Boambee with resort-style pool and pavilion on 3,000 sqm of lush gardens.
After growing up on the land at Bonville, the Gold Logie-nominated Mackinnon broke in to TV in 1997, later appearing as a regular in the Baywatch spin off Baywatch Hawaii alongside David Hasselhoff.
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Actor Simmone Jade Mackinnon sells Coffs Harbour property

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Approaching the halfway mark of the year with record low interest rates and consumer confidence back sees the market remaining strong with increases in values through several sectors of the market, including the real estate market in NSW's Coffs Harbour, say valuation firm Herron Todd White in their July 2016 residential market report.
Buyers in the $500,000 bracket can expect to purchase good quality five to 20 year old 3- or 4-bedroom, 2- or 3- bathroom homes on varying size sites located within two to three kilometres of the Coffs Harbour CBD and local beaches.
Standard new project style 4-bedroom, 2-bathroom homes range between $450,000 and $550,000 in the smaller central Coffs estates and southern suburbs of Bonville and Boambee East.
The more modern upmarket estate known as The Lakes at North Boambee Valley (two kilometres from the CBD) starts at around $500,000 for new 4-bedroom, 2-bathroom homes.
"If you are after more bang for your $500,000, the older established areas south of Coffs Harbour at Boambee East and Toormina will get you a five to 30 year old larger better quality 4- to 5-bedroom home with double garage and pool," says HTW.
Traditionally, these areas are of a more modest standard with values in the $300,000 to $450,000 range. These areas are well located close to the Pacific Highway for access north and south and are also located within two to three kilometres of the popular Sawtell Beach and shopping precinct. The major shopping centre at Centro Tormina is underpinned with K-Mart, Woolworths and Coles. Schools include primary and public high schools plus nearby St Josephs College and Southern Cross University.
The older homes within the northern beaches suburbs of Korora, Sapphire Beach, Moonee Beach and Emerald Beach have always been solid investments in the $500,000 to $600,000 bracket which buys 20 to 30 year old properties of good size located close to beaches and not far from major facilities in Coffs Harbour.
One area to watch is the beach side township of Woolgoolga, 30 kilometres north of Coffs Harbour. A traditionally strong agricultural area with good infrastructure, the recent bypass upgrade of the Pacific Highway and opening of Woolworths shopping centre only adds to the appeal.
Look to the southern side of Woolgoolga at Sandy Beach for the cheap beachside properties. Price points are generally under $450,000 for one to 30 year old homes of modest construction, with esplanade position properties going between $500,000 and $650,000. This area is still under developed with easy access to Woolgoolga and Coffs Harbour. The recent purchase of a large beachside development site will see substantial future residential development taking place which will lead to better infrastructure.
The Coffs Coast locality saw little capital growth over the GFC period, however the past 12 to 18 months has seen the market bottom and the start of the recovery.
"Traditionally we have not experienced the high levels of capital growth of the major cites due to the fairly low economic base within the region. Limited job opportunities does put a cap on the growth experienced in the mid to upper price brackets, while the majority of growth is centred under the $500,000 mark," HTW concludes.
As an example of recent affordable sales, Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-coffs+harbour-122873066" target="_blank">15 Sunnyside Cl, Coffs Harbour, NSW 2450</a> (above) which traded hands for $365,000. To put things in perspective, the median house price in Coffs Harbour was $425,000, according to CoreLogic 
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Coffs Harbour promises quality homes in $500,000 range: HTW

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A Coffs Harbour beachfront resort development opportunity has been announced to the market.
The property, BreakFree Aanuka Beach Resort has been operating for 30 years in the holiday location.
The development is currently operated by the Mantra Group who have a five year lease remaining.
It offers the only direct local access to the popular Diggers Beach.
Set across two strata-titled totalling 6030 sqm of beachfront lots, the resort has a reception, administration, conference, F&amp;B, leisure and recreational facilities.
The bluechip investment is being managed by Knight Frank Directors Donald Watson-Brown and Ryan O'Hanlon.
Watson-Brown suggested that it offers a lucrative holding income of over $420,000 per annum for a site with extensive development upside.
"The resort offers flexibility and plenty of options in its investment proposition," said Watson-Brown
"The current owners are keen for development of the property to go to a party that has a vision to use the property in a positive way for the local area – whether that is mixed-use residential, hotel, or other type of development."
The accommodation offerings of the resort are not included in the sale.
“Aanuka Beach Resort has proved to be an integral part of the local history of the Northern NSW Coast tourism industry, providing generations of beachgoers lifelong holiday memories," he said. 
Fellow director Ryan O'Hanlon spoke of Coffs Harbours location for investors.
“Positioned within close proximity of the Pacific Highway, Coffs Harbour is a historically strong-performing holiday destination and this is a great development opportunity."
“The offering represents a highly strategic play for future development on the site. Underpinned by direct access to Diggers Beach, the owner of the Aanuka Resort infrastructure will control the future use, refurbishment or even larger-scale development of this historically successful holiday precinct," he said.
Aanuka Beach Resort, Coffs Harbour is located approx. 535 km north of Sydney and 389 km south of Brisbane.
The property is located 2 km to Coffs Harbour City, 8.5 km to the airport, 1 km to the Park Beach Plaza Shopping Centre and 10 km to Coffs Harbour Stadium.
The property is for sale via expressions of interest.
 
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