One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.

Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.

With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.

<img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" />

Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.

At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.

Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

<img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" />

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

Joel Robinson

Monaco Property Group approved for $500 million NALU apartments on Miami beach

The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

<img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" />

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

<a href="https://www.apartments.com.au/developers/jwland-development">JWLand</a>’s De Burgh, the final residential release within the Northbourne Village precinct in Lyneham, is nearing completion just as the Federal Government’s Home Guarantee Scheme prepares for its most significant expansion to date.&nbsp;

From October 2025, the scheme will allow first home buyers to enter the market with just a five per cent deposit and no lenders mortgage insurance (LMI), removing some of the most common barriers to ownership.

With <a href="https://www.apartments.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a> on track for residents to move in by late spring 2025, the timing creates a strong opportunity for first home buyers seeking brand-new apartments in Canberra’s sought-after Inner North.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212888]

The project delivers 350 residences across two buildings, with layouts ranging from compact studios through to one, two, and three-bedroom apartments.

JWLand has tailored the development for long-term liveability, integrating natural light, privacy and outdoor space into each home. Ground-floor residences feature private courtyards, while upper levels benefit from generous balconies.

Kitchens are fitted with Fisher &amp; Paykel appliances, and all apartments include ducted reverse-cycle air conditioning with smartphone app control for lighting and climate.&nbsp;

Shared resident facilities include a rooftop garden, gym, lounge and parcel lockers, alongside landscaped green space within the precinct.

[smartcode_project:default project_id=139989 project_image_fid=267376]

For buyers, the expanded Home Guarantee Scheme removes income caps and introduces unlimited places, making it more accessible than ever. With most De Burgh apartments priced under $1 million, they fall well within the updated eligibility thresholds.

The policy changes provide first home buyers with greater certainty and a smoother path to finance. Combined with the quality and location of De Burgh, the expanded scheme is expected to draw a new wave of buyers to Canberra’s Inner North.

Residents will benefit from the project’s central setting, just 600 metres from the light rail and three kilometres from Canberra’s CBD. The precinct is bordered by the <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands and sits within easy reach of cafes, restaurants, schools and the ANU.

With completion scheduled for late 2025, De Burgh is set to be among the first major apartment projects to meet the expanded scheme head-on, offering first-time buyers a realistic pathway to ownership in one of Canberra’s most connected neighbourhoods.

[smartcode_project_cta:default project_id=139989]

JWLand’s De Burgh aligns with expanded Homebuyer Scheme, opening doors for first home buyers in Canberra’s Inner North

Gippsland

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Victoria’s Gippsland region has only seen moderate growth in land prices in comparison to the remainder of the state.
According to valuation firm Herron Todd White’s latest rural report, this is a result of consecutive poor seasons, including recent bushfires, drought and now COVID-19.
However, the supply of property on the market has been steady in 2020, wrote HTW’s Angus Shaw.
“Irrigation areas such as the Macalister Irrigation District have continued to show their strength with relatively balanced supply and a continued strengthening in demand from both dairy and vegetable growers.”
This can be seen in recent sales, such as 160ha irrigated dairy property Roonsleigh at Tinamba, which sold in excess of $25,000 per hectare inclusive of water.
Other recent sales include two sales of grazing country at Boisdale, suitable for vegetable production, which both sold at auction for in excess of $30,000 per hectare.
According to the report, approximately 70 per cent of dairy operators are expecting a profitable and above five year average return this season.
“The decreasing input costs of hay and grain, improved seasonal conditions and relatively strong milk prices this season have led to significantly improved confidence in the local dairy sector.”
Evidence suggests that the COVID-19 pandemic is having little impact on the majority of rural markets, although drought and bushfire have softened the demand for some grazing properties.
 
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j.ballantyne1990-6AQqhLzZaK

Rural Gippsland sees moderate growth: HTW Rural

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The McGauran family has listed their Gippsland rural estate, Nambrok with a $20 million asking price.
The estate dates back to the 1860s.
The grand Victorian homestead sits on an elevated site on the 989-hectare estate, some 200 kilometres south east of Melbourne.
It was the home of the late John McGauran who was a prominent Victorian hotelier.
Two sons Peter and Julian were federal politicians. Peter was more recently appointed by Julie Bishop as Australia's Consul-General in Houston, Texas, having been the member for Gippsland for 25 years.
<img src="https://static.ffx.io/images/%24zoom_0.184%2C%24multiply_0.5854579792256847%2C%24ratio_1.776846%2C%24width_1059%2C%24x_0%2C%24y_96/t_crop_custom/t_sharpen%2Cq_auto%2Cf_auto/4810225480eab82a8875fbd580213477f8bd02a4" alt="" data-id="4810225480eab82a8875fbd580213477f8bd02a4" data-pb-im-config='{"aspectRatio":1.776846,"type":"landscape16x9","width":600,"url":"https://static.ffx.io/images/$zoom_0.184%2C$multiply_0.56657223796034%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_96/t_crop_custom/t_sharpen%2Cq_auto%2Cf_auto/4810225480eab82a8875fbd580213477f8bd02a4"}' data-cke-saved-src="https://static.ffx.io/images/$zoom_0.184%2C$multiply_0.5854579792256847%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_96/t_crop_custom/t_sharpen%2Cq_auto%2Cf_auto/4810225480eab82a8875fbd580213477f8bd02a4">
Nambrok was the home of Patrobas, which won the Melbourne Cup in 1915.
Patrobas was the first winner to have a female owner, Edith Widdis whose husband John had acquired Nambrok in 1908.
The original brick stables where Patrobas was housed remain in working order.
<img src="https://www.urban.com.au/images/2019/8/5/Patrobas%20Wins%20Melbourne%20Cup.JPG" alt="">
(Source: National Library of Australia)
The McGaurans, who first arrived in Gippsland in 1873, acquired Nambrok in 1985. 
Elders advise it currently runs 540 beef breeders plus progeny and bulls.
John McGauran was the grandson of the family's pioneers Michael and Bridget McGauran. He died in 2009.
"Farming has been integral to the family for 150 years which has had a lasting influence on all family members," a family statement to Nine Entertainment said.
"However, the time has come to see Nambrok flourish in the hands of new owners.
"Everyone who has lived or worked at Nambrok knows its special appeal and the rare beauty of Nambrok House," the family said.
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firstname1-iYD4UYzvBa

Home of Patrobas, Nambrok listed by McGauran family at Gippsland

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Over the year to February 2019, dwelling sales were down -10 per cent across the Latrobe-Gippsland region, although current sales activity is in line with the five year average for the region, according to the latest CoreLogic regional report. 
Dwelling values across the Latrobe-Gippsland region increased year-on-year with house values increasing by 5.9 per cent over the 12 months to March 2019, while unit values were up by 7.9 per cent over the same period.
'<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/latrobe%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%202.jpg" target="_blank">Click here</a> to enlarge: 
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Source: CoreLogic 
 Renting is more expensive across the region with advertised rental rates up $20/week for houses and $15/week for units over the year to March.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/geelong%203.jpg" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%204.jpg" target="_blank">Click here</a> to enlarge: 
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/geelong%204.jpg" alt="">
Source: CoreLogic 
The time a home sits on the market across the region has improved with the average house selling 17 days faster, and the average unit selling 10 days faster when compared to February 2018. 
The average vendor is offering less of a discount to secure a sale over the same period.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/cairns%205.jpg" target="_blank">Click here</a> to enlarge: 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/cairns%205.jpg" alt="">
Source: CoreLogic 
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Latrobe-Gippsland regional sales volumes down 10 percent: CoreLogic 

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The Old Slipway site in the East Gippsland tourist town of Lakes Entrance has been listed for sale.
The 5,400 sqm property in the Lakes Entrance central business district is targeting developers to transform the site into a mix of commercial and public space to attract new business investment to the area.
Currently managed by Gippsland Ports, the Old Slipway site fronts directly onto the waters of Cunninghame Arm. It links two commercial precincts and is one of a few waterfront development sites available on the Gippsland Lakes.
Nick Murray, CEO of Gippsland Ports, called the site "an exceptional opportunity" to develop a unique foreshore site right on the Lakes Entrance waterfront.
He suggested in particular the access for boats to the central location opens up many possibilities for visiting boaties and tourism services.
<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/2018/9/18/old-slip1.jpg" alt="">
The site, which has been decommissioned for more than 10 years, includes public land, a car park, two timber buildings and a public toilet. It will be managed by East Gippsland Shire Council, with the developer entering into a long-term lease agreement with the Crown.
King &amp; Heath First National is managing an expressions-of-interest campaign.
King &amp; Heath First National managing director Chris Martin said he expected the opportunity to attract an enthusiastic, resourceful and inspired entrepreneur who could see the potential for redeveloping the Old Slipway site into a vibrant new precinct of Lakes Entrance.
"It is rare for such premium land to become available on the shores of the Gippsland Lakes and we anticipate strong interest from developers," Martin said.
"This Old Slipway site provides a once-off opportunity to create a prime visitor destination with the potential to cater to both tourists and locals. There is also an opportunity for the development to extend out into the waterway."
The East Gippsland Shire Council Mayor, Cr Joe Rettino, said a successful development would provide a seamless integration of innovative, sustainable commercial activities, community sites and open space and reflect the long boating and commercial fishing history associated with the site. There was potential to develop cultural and eco- tourism opportunities highlighting the Gippsland Lakes.
"Lakes Entrance is one of Victoria's iconic tourist destinations attracting over half a million visitors a year and growing at 5.6 per cent each year," Cr Rettino said.
"Whoever develops the Old Slipway is perfectly positioned to take advantage of this, by creating a place that encourages both day and night-time use, with options such as waterfront eateries, outlets offering fresh seafood and regional produce, tourist-oriented retail sales, galleries, public amenities and open spaces."
"There also are wonderful water-based opportunities, such as short-stay and itinerant jetty berths to provide access to the town from the water, and safe swimming and wading sites. We want people from both land and water to stop and enjoy the site."
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jrobinson-rf4aSBido9

The Old Slipway on Gippsland Lake listed as development opportunity

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Ray White Rural Victoria director Jason Hellyer has sold Paringa, a 569 hectare agribusiness operation in Gippsland for $3,250,000.
Paringa comprises a fertile mix of river flat, Fernbank and Perry sandy loams. 
It has been home to a successful Angus breeding, fattening and year-round irrigated fodder crop program.
Located within Gippsland's Wellington Shire, the plot contains 260 acres under pivot irrigation, a further 150 acres under lateral spray irrigation with a 280ML Southern Rural Water irrigation licence. 
Featuring cattle yards, shedding and a four bedroom two bathroom BV manager's residence, it is located in Central Gippsland close to Gippsland Lakes, and the seaside towns of Paynesville &amp; Metung.
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Gippsland's 568 hectare farm Paringa sold

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The Rawson family has sold its South Gippsland cattle and sheep properties, Nardoo and Burrabadeen for about $20 million.
Burrabadeen boasts a <a href="http://www.eldersrealestate.com.au/rural/buy/property-cropping-vic-tarwin-lower-668956" target="_blank">Guilford Bell designed home</a> in picturesque English and native treed gardens (above and below).
Nardoo and Burrabadeen, which cover 1252 hectares just outside the hamlet of Tarwin Lower, were first offered for sale in 2016.
The original asking price was around $30 million, the Australian Financial Review said.
<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/2018/4/30/guilford.jpg" alt="">
The owners have consistently produced the equivalent of 800 breeding cows plus followers in addition to 2,000 first cross and composite ewes and lambs. Approximately 200 acres of hay and silage is also produced annually.
The buyers are understood to be a farming couple from the south-east Melbourne fringe who were looking for a larger property further out from the city.
Elders agents Nick Myer and Don Olden confirmed the properties had sold in the local paper, the South Gippsland Sentinel Times.
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<div id="article-inline-ad">The Rawson family co-founded the estate agency, Burgess Rawson in 1976 but sold out of the business in 2010. </div>
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South Gippsland's Nardoo and Burrabadeen sold with Guilford Bell homestead

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The Gippsland residential market price is strengthening, according to Herron Todd White’s latest May report.
The property valuation firm says that sale has recently been in the $700,000 to $1 million range.
“The Baw Baw, South Gippsland and Cardinia markets are strengthening.
“This includes cities and towns such as Warragul, Drouin, Nyora, Lang Lang and Koo Wee Rup.
“Regions such as Morwell and Heyfield have recently had negative press regarding the forthcoming closure of Hazelwood Power Station and Heyfield Timber Mill.
“It will be interesting to see how the market responds.
“Sale has recently had some higher end sales in the $700,000 to $1 million range with increased buyer interest in prestige properties,” the report stated.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-yarragon+south-125496718" target="_blank">168 Yarragon South Road</a>, Yarragon South (above) has been listed for $799,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-warragul-125366018" target="_blank">28 Fernery Boulevard</a>, Warragul (below) has been listed for $879,000.
<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/2017/05/19/28%20Fernery%20Boulevard.jpg" alt="">
Mildura’s housing market has seen modest growth according to Herron Todd White.
“Despite the housing market being active, very modest growth has been seen in housing prices over the past 18 months.
“Houses and units are selling after relatively short selling periods of usually less than 30 days and Mildura’s local economy appears to have strengthened over this period.
“Despite this, it seems there is not quite enough competition amongst buyers to see any significant capital gains.
“The missing ingredient seems to be population growth.
“The latest statistics indicate that Mildura’s population is growing at just under 1% per annum and while this is enough to maintain momentum, it is not flowing through to any substantial price growth,” the report commented.
Herron Todd White says that lifestyle factors influence the growth of the area.
“Employment and lifestyle factors are the things which will influence population growth outlook.
“On the employment front, there is ongoing optimism in key agricultural industries and this is likely to create opportunities in farm work, transport and logistics, agronomic services and some downstream processing.
“However growth in tourism, retail or mining would be needed to see the growth in jobs required to bring significant numbers of families to the region.
“What is clear is that Mildura has enough size and economic diversity to weather any economic downturns reasonably well,” the report advised.
Older residents are beginning to move to Mildura and that is expected to rise Herron Todd White says.
“The migration of older people from surrounding towns and regions choosing to retire to Mildura is expected to continue.
“For this sector, it is lifestyle and availability of medical services along with affordability of housing that will influence their choice.
“Mildura appears to stack up well in this regard,” the report advised.
A three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-mildura-125213478" target="_blank">3 Lakeview Court</a>, Mildura (below) was recently sold 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/2017/05/19/3%20Lakeview%20Court.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-118748831" target="_blank">906 Fifteenth Street</a>, Mildura (below) was recently sold for $205,000.
<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/2017/05/19/906%20Fifteenth%20Street.jpg" alt="">
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Gippsland and Mildura residential market grows stronger: HTW

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Regions of Gippsland will be on the move while other regions stagnate, according to HTW’s February 2017 update.
Discussions with local real estate agents indicate that 2017 has started off surprisingly with an increase in buyer interest and sales, the report says.
The expansion of the East Sale RAAF Base is increasing confidence in the local area.
Rental vacancies in 2016 were at higher than usual levels, but 2017 is showing signs of investors coming back into the market.
"Sale could be the surprise packet of 2017," HTW says.
TRARALGON/MORWELL/MOE
The Latrobe Valley has come through a tough period and the forthcoming closure of Hazelwood Power Station has put some negativity in the market, says HTW.
Morwell seems to be the hardest hit with evidence of pricing at lower levels than 2014 and 2015, however rental returns are still at a high upwards of 8%.
"Traralgon new construction is still in good demand, so whilst there is come negativity, Traralgon may be a good buyer’s market at the moment with some good quality affordable properties on the available."
WARRAGUL/DROUIN
The Baw Baw region continues to grow. New housing is in high demand and land prices have increased in the past six to 12 months.
A lot more workers are commuting to Melbourne and agents are selling properties quickly.
There is evidence of increase in values in short term periods, the report says.
KOO WEE RUP/LANG LANG/NYORA
"These areas have been a real surprise packet, with fast growth and strong demand," says HTW.
Land prices have increased from $180,000 to $240,000 in a 12 to 18 month period.
Cranbourne and Peninsula buyers are becoming more interested in these regions.
Rural residential small acreage parcels in Nyora are increasing in value.
EAST GIPPSLAND
Bairnsdale will see continued average sales volume and demand ahead.
For Paynesville, 2015 was a good year, 2016 an average year and average volume is expected in the year ahead.
Lakes Entrance is showing better than five year average sales volume ahead.
Overall East Gippsland has average to better than average sales volume.
Phillip Island Phillip Island and the Bass Coast has seen relatively stagnant prices over the previous few years.
Predictions for price level growth in this area are regarded as positive with minor price growth over the past six to 12 months, according to the report.
New housing coming on to the market in 2017 on Phillip Island, mostly around Cowes, may limit price growth as supply is seen to be keeping up with demand.
"Recent press and news stories describing the Bass Coast and Phillip Island as affordable beach side living in comparison to other traditional destinations for Melbourne holidaymakers may result in increased demand and could have a positive impact on price growth," says HTW.
"An increase in interest rates is the most concerning factor with a large number of holiday homes and holiday rentals in this locality.
"Demand for a second residence or holiday home may decrease if the cost of borrowing increases."
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Gippsland's property market will be hit and miss in 2017: HTW

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Investors in Morwell can pick up a miner’s cottage in the vicinity of $130,000 and rent for around $210 per week reflecting an 8 percent yield, according to Herron Todd White's latest monthly market report.
Miners cottages are very common throughout Morwell, Moe and parts of Traralgon. These are generic 3-bedroom, 1-bathroom, timber weatherboard dwellings which seem to be popular with investors.
There is such <a href="https://www.realestate.com.au/property-house-vic-morwell-123584550">an offering at $129,000</a> currently.
The property advisory firm says that Gippsland has the option of the brick veneer, described as an iconic family home and generally structurally sound, but built in the good old days with hardwood frames and flooring.
Entry level at the median price of around $270,000 for the regional city of Sale would likely see a 3-bedroom brick veneer in original or dated condition.
A renovated California Bungalow in a central location will likely fetch around $500,000.
Classic styles for the Gippsland region include 1970s to 1980s brick veneer or in older areas of towns, circa 1930s California Bungalows.
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Gippsland offers 8 percent Morwell investor weatherboards: HTW

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Both median house and unit values across the Latrobe – Gippsland region increased over the year to June 2016, with detached house values sitting at $302,407, which is 3.9 percent higher than one year ago, however having fallen from their recent peak in April ($305,509), according to CoreLogic's regional market report.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.04.41%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.04.41%20PM.png" alt="">
Across the much smaller unit market, values have risen 0.6 per cent over the year to June to $233,482.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.04.46%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.04.46%20PM.png" alt="">
There were 5,504 residential homes sold across the region over the 12 months to May 2016, tracking above the five year average for the region, but indicating slightly less activity across the market when compared to the preceding year.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.04.56%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.04.56%20PM.png" alt="">
A typical house is taking an average of 117 days to sell currently, and the average time on market for units is 122 days, slightly lower than one year ago.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.05.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.05.11%20PM.png" alt="">
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