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

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

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

BANKSII sales launch in booming East Brisbane apartment market

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

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

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

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

First look: Kokoda secures Richmond site for new apartment development

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

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

Housing Sales

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New home sales hit a two-year low in October 2016, but have since staged something of a recovery. While new detached house sales dipped by 2.3 percent in the fourth quarter, sales of new multi-unit dwellings ticked back up by 3.2 percent.
<a href="https://www.propertyobserver.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%209.16.02%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%209.16.02%20AM.png" alt=""> 
In fact the result for multi-units in December was the highest seen for a year-and-a-half, at least in seasonally adjusted terms. 
Detached house sales were strongest in the two most populous states, according to the Housing Industry Association (HIA). 
 
<a href="https://www.propertyobserver.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%209.16.08%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%209.16.08%20AM.png" alt="">
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>. 
 
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pwargent-M4siyDbqQY

New home sales staging a recovery: Pete Wargent

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Noarlunga Downs, a metropolitan suburb of Adelaide, has experienced the biggest stock increase in South Australia over the last 12 months, according to Investar.
Investar says its sales stock has grown by 81%, from 21 houses this time a year ago to its current 38 offerings.
The suburb's median house price sits on $320,000, according to CoreLogic.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/6/SA%20BIGGEST%20STOCK%20INCREASE%20.jpg" target="_blank">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/2018/4/6/SA%20BIGGEST%20STOCK%20INCREASE%20.jpg" alt="">
A Noarlunga Downs offering currently on the market is a three bedroom house priced at $319,000 to $339,000 (pictured above).
Located at <a href="https://www.realestate.com.au/property-house-sa-noarlunga+downs-125498554" target="_blank">20 Peppermint Grove</a> (pictured above), the South Australian home comes with three bedrooms, spacious formal living room, modern kitchen and private courtyard.
Other features include covered entertaining area,  split system heating and cooling, and single garage.
It is situated close to the Noarlunga transport hub, Colonnades Shopping Centre and only a short walk to Cardijn College.
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j.ballantyne1990-6AQqhLzZaK

Noarlunga Downs sees SA's biggest stock increase

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The Sacred Heart Mission has sold its St Kilda hostel for about $6 million.
The Robe Street premises has housed hundreds in its 25 year history.
The 1154 square metre site at <a href="https://www.realcommercial.com.au/property-land+development-vic-st+kilda-502444206" target="_blank">41-43 Robe Street</a> includes a historic property, Avonsleigh Terrace.
The community group will spend the sale proceeds on a $27.3 million redevelopment of another St Kilda site it owns nearby.
Residents who have occupied the 29-bedroom Robe Street property will move to the new facility, which will accommodate 97.
Chisholm &amp; Gamon selling agent Torsten Kasper represented Sacred Heart Mission who bought the property for $1.15 million in 1992.
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St Kilda's Avonsleigh Terrace sold by the Sacred Heart Mission

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Nine out of 10 people who re-sold a property during the March 2017 quarter earned themselves a profit, according the CoreLogic Pain &amp; Gain March 2017 quarter report.
The total gross losses realised over the quarter was recorded at $493.8 million with a median gross loss of $35,000 per re-sale.
The CoreLogic Pain &amp; Gain report reveals Mackay ranked among the worst.
Areas linked to mining and resources sector continue to be some of the weakest housing markets across the country, the report noted.
Although transaction volumes appear to have bottomed in many of these regions, values have generally continued to fall albeit at a slower pace. 
The reported noted although more than half of all resales in Mackay were at a loss over the quarter, it noted there are signs that in some of the weakest markets conditions are starting to improve.
The proportion of resales at a loss has fallen in Mackay from a peak of 61.8%.
"Although there has been a moderate improvement in a number of these regions it is anticipated that the instances of resales at a loss will remain elevated in these regions.
"Although transaction volumes are generally no longer falling demand remains low and there are still many that bought at or near the market peak looking to sell and likely to incur losses when they do eventually sell their property," it noted.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-mackay-124665666" target="_blank">4/361 Alfred Street</a>, Mackay (above) was recently sold for $149,000 after being sold in 2011 for $330,000.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-124472702" target="_blank">11 Baxter Street</a>, Mackay (below) was recently sold for $160,000 after being sold in 2009 for $340,000 and in 2003 for $172,000.
<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/2017/06/26/11%20Baxter%20Street.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-mackay-122595746" target="_blank">1/60 George Street</a>, Mackay (below) was recently sold for $230,000 after being sold in 2014 for $328,000 and in 2007 for $368,000.
<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/2017/06/26/1_60%20George%20Street.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-123582650" target="_blank">1 Grant Street</a>, Mackay (below) was recently sold for $260,000 after being sold in 2010 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/2017/06/26/1%20Grant%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-124738302" target="_blank">3 Hamlet Street</a>, Mackay (below) was recently sold for $320,000 after being sold in 2014 for $248,000 and in 2011 $358,000.
<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/2017/06/26/3%20Hamlet%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-mackay-124561486" target="_blank">17 Hucker Street</a>, Mackay (below) was recently sold for $175,000 after being sold in 2008 for $280,000.
<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/2017/06/26/17%20Hucker%20Street.jpg" alt="">
Queensland municipalities, Lockyer Valley, Somerset and Ipswich proved tough markets too.
Across the capital cities, vendors reselling earnings were varied: Sydney resales earned 97.8%, Melbourne 95.3%, Adelaide 92.5% and Hobart 95.4% while vendors in Darwin 63.0%, Perth 76.8%, Canberra 90.4% and Brisbane 90.8% profit earnings were significantly less. 
In the regional areas of the country the top resale earners were in the Southern Highlands and Shoalhaven at 98.8%, Illawarra at 98.6%, Newcastle and Lake Macquarie at 98.2%, Sydney at 97.8% and Geelong at 97.3%. The biggest regional losses came from regional areas closely linked to the mining and resources sector. The Pain &amp; Gain regional results found that 11.1% of houses resold for less than their previous purchase price over the first quarter of 2017. By proportion, regional house sales losses were marginally higher than the 11.0% over the December 2016 quarter and slightly higher than the 10.9% in March 2016. 
<a href="https://www.propertyobserver.com.au/images/2017/06/26/Screen%20Shot%202017-06-26%20at%2012.07.45%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/2017/06/26/Screen%20Shot%202017-06-26%20at%2012.07.45%20pm.jpg" alt="">
CoreLogic report author Cameron Kusher said there is still a relatively high proportion of units in regional Australia reselling at a loss (17.2%) however, the proportion of loss making unit sales has shifted substantially lower as lifestyle markets see buyer demand rebounding and mining regions approach the bottom of their cycle.
At the end of 2016, 17.9% of regional units had resold at a loss and in March 2016 quarter the proportion was recorded at 19.7% of all properties. The 17.2% of regional units resold at a loss is the lowest proportion since the December 2010 quarter. 
“While the proportion of loss making sales has started to reduce in some of these regions, there remains a high willingness from home owners to sell up coupled with little demand to purchase. As a result we are seeing a high proportion of vendors materializing their losses,” Mr Kusher said.
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Mackay is the most painful location for property vendors across Australia: CoreLogic

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A derelict Darlinghurst terrace has sold for $1.75 million.
The two-bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-darlinghurst-123217894" target="_blank">12 Hargrave Street</a> was placed on the market with a price guidance of $1.3 million.
It was marketed as a renovator's delight, with "solid bones throughout and plenty of obvious angles for adding value".
One of the bathrooms was in complete disrepair, with exposed plumbing.
It was listed with BresicWhitney’s Nick Gill and Eliza McGrath.
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jchancellor-FAypfDUnLy

Derelict Darlingurst terrace sells at $1.75 million

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<div>NSW's Wagga Wagga has been a rising market in both April and May, according to valuation firm Herron Todd White's property clock -- a simple broad brush means to suggest where property markets are and what direction prices are moving in. </div>
<div> </div>
<div><a href="/images/2016/05/12/Screen%20Shot%202016-05-06%20at%202.03.00%20PM.png" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/05/12/Screen%20Shot%202016-05-06%20at%202.03.00%20PM.png" alt=""></div>
<div> </div>
<div>Like all towns and cities the edge is where expansion occurs. In Wagga Wagga, this includes areas to the north at Estella, Boorooma and Gobbagombalin, to the east at Forest Hill, to the south at Bourkelands and Lloyd and the south west at Uranquinty. All these areas have seen 10% to 20% growth in vacant land values over the past two years.</div>
<div> </div>
<div><a href="/images/2016/05/12/Screen%20Shot%202016-05-12%20at%209.36.09%20AM.png" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/05/12/Screen%20Shot%202016-05-12%20at%209.36.09%20AM.png" alt=""></div>
<div> </div>
<div>It’s not necessarily affordability that people are looking for, it’s a new dwelling. It must be remembered that nothing is more than 10 minutes away in Wagga Wagga which compares a lot more favourably than the bigger cities where a trip to the local shop can take 10 minutes. Dependent on the size as well as other variables, new houses sell in the outer areas for between $350,000 and $550,000. This is comparable to the cost of housing in the central suburbs of Wagga Wagga, Turvey Park and Kooringal. It appears some people do not want the hassle of maintenance an older dwelling requires.</div>
<div> </div>
<div>Infrastructure does not seem to be a factor either. For example Estella, Boorooma and Gobbagombalin do not have a public school, local shop or licensed premises. It will be interesting to see how all these areas fair over the next five to 10 years. There is a chance that in the short term, because of the number of new dwellings having been constructed and currently being constructed so close together both by locals and out of town investors, that values will drop.</div>
<div> </div>
<div>Other factors too will have an impact including higher education funding and housing requirement, defence housing requirements and probably more importantly the weather. This is one factor that politicians can’t simply add money too. Wagga Wagga’s economy relies heavily on the rural sector and should it be negatively impacted the flow on affect will be felt around the town. 
Property Observer looked up some recently sold properties in the fringe areas of Wagga Wagga in the $350,000 to $550,000 range and found these on www.realestate.com.au:
<img src="/images/2016/05/12/main-2.jpg" alt="">
A four-bedroom house with a garden at <a href="https://www.realestate.com.au/property-house-nsw-wagga+wagga-118681587" target="_blank">3 Tubbo Place, Bourkelands Wagga Wagga</a> (above) fetched $390,000.
 
<img src="/images/2016/05/12/main-3.jpg" alt="">
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-forest+hill-121204414" target="_blank">2 Teak Close Forest Hill NSW 2651</a> (above) sold for $510,000, according to RP Data.
</div>
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prateek24-ezbwHMbNAk

NSW's Wagga Wagga's fringes offer promise for new home buyers: HTW

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Melbourne leads the country for the number of homes sold under private treaty at 3,432 houses with the median price hovering around $604,000, according to CoreLogic RP Data.
Sydney leads the country for units, with 1,675 being sold at a median of $670,000.
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Melbourne leads nation in private treaty home sales: CoreLogic RP Data

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A property in Sandy Bay Tasmania is the most distressed property of the week, according to SQM Research.
The home, <a href="https://www.realestate.com.au/property-house-tas-sandy+bay-119247155" target="_blank" style="line-height: 1.3em;">493 Churchill Avenue</a>, was placed on the market back in March with an asking price of $570,000. Since then the vendor has slashed the price to $540,000, a total reduction of $30,000.
SQM Research managing director Louis Christopher said the property consists of four bedrooms, two bathrooms and accommodation for up to two vehicles.
"The vendor says that the fourth bedroom and second bathroom are located downstairs with its very own entrance and abundance of space that could be potentially converted into self contained accommodation," he said. 
"The property features modern timber floorboards, fresh white walls and plenty of natural lighting. The brand new modern kitchen and verendah out the back give this property its additional knockout touch. 
"The property is located approximately 6 km away from Hobart CBD, and is within a short driving distance from local Sandy Bay shops, transport, cafes and schools."
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Sandy Bay Tasmania home SQM's most distressed 

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Chief executive officer of McGrath estate agents John McGrath has outlined his top five picks for the Sydney housing market.
In the McGrath Report 2015 he said properties in Sydney suburbs such as Kensington, Curl Curl, Parramatta, Engadine and The Rocks are looking safe.
The Rocks
"As a shift in the housing stock moves from Government owned to private dwelling there is bound to be a massive upgrade to these beautiful harbourside Georgian and Victorian homes. Plus a significant change in local amenity that usually follows such upgrades. With the recently opened Barangaroo Point park, a 5 minute walk to the CBD &amp; Barangaroo commercial precinct, this is fast becoming one of the most fashionable addresses in Sydney," he said.
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Kensington 
"With the recent surging interest from overseas buyers Kenso will become one of the main beneficiaries due to the University campus around which the suburb has evolved. And the upcoming light rail which will whisk residents in &amp; out of the City &amp; to the mighty sporting facilities of Moore park &amp; Royal Randwick, your investment is looking safe in this university suburb," he said.
Curl Curl 
"While the Sydney recovery is still more heavily focused on the Inner Ring suburbs, the gorgeous Northern Beaches lifestyle is attracting great attention from the water babies looking for better value than the East. We like Curl Curl with it’s intimate positioning by the sand and relatively easy access to the CBD compared to some of her further north sister suburbs. Not only will you live longer with a Curl Curl address but you’ll outperform the Sydney market by many percentage points in the next decade," he said.
Parramatta 
"There are two key reasons Parramatta is a must-have in this year’s report. First, the commercial and infrastructure activities in and around Parramatta are leaving much of Sydney in their wake with many smart companies choosing to re-locate closer to their employees in what is now the heart of Sydney. The second reason is the activation of the river which has for many years been a forgotten waterway. Opportunities are starting to emerge to build quality medium density riverside dwellings over the next few years which will establish new pricing benchmarks. So for investors and home owners alike, head west to get a piece of this golden lifestyle," he said.
Engadine 
"The Shire and great living have been closely aligned for many generations as the locals know only too well. But as the surf-side suburbs shoot north in price and young homeowners look to secure a piece of God’s country, areas like Engadine offer great land size at an affordable entry point. So if a 600 square metre block is still on your “must have” list and your budget is under $750,000 pop Engadine into your search engine and find sensible value you couldn’t spot elsewhere," he said.
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