Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

The latest application seeks approval for a multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

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The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

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The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

Staff Writer

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
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Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

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The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

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Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

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<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

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Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

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Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

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Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Nine ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

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The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

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“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

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Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Property development giant <a href="https://www.apartments.com.au/developers/avid-property-group">AVID Property Group</a> is approaching completion, and sell-out, of its Surry Hills apartment development, <a href="https://www.apartments.com.au/new-apartments/the-rathbone-23-47-flinders-street-surry-hills-nsw-2010">The Rathbone</a>.

The Flinders St project has sold well over half of its 32 apartments, which will sit above two retail spaces.

Now hitting the market are the final 14 one-, two-, and three-bedroom apartments, which start from $1.15 million. AVID is targeting a mid-2026 completion.

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AVID General Manager New South Wales Danny Boubli said as more apartments are introduced to increase housing options in inner-city areas, homebuyers are searching for a &nbsp;sense of belonging in addition to location, convenience and value.&nbsp;

“There are very few opportunities for new developments in Surry Hills, and since acquiring the site, we’ve even seen one early purchaser merge two apartments plans together, reflecting the demand for a spacious, premium offering in a prime location,” Boubli said.&nbsp;

“Demand has been strong since we launched to market – we don’t see these final apartments staying on the market for long.”&nbsp;

Architectural firm Studio SC has designed the building which pays homage to the former 1900s Rathbone Terraces that once sat on the 990 sqm island site.

Boubil said the team has made every effort to create "truly liveable apartments", through&nbsp;functional floor plans, security, storage, and the inclusion of quality fittings.

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Sustainable design has also been implemented throughout the development, with natural light flooding each apartment, ventilation throughout, extensive landscaping and where possible, materials with a high level of recycled content and low volatile organic compound paints have been used. &nbsp;

Apartments range in size from 57 sqm for the one-bedrooms to the large-scale 165 sqm three-beds which are priced at $2,575,000.

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AVID launches final apartments at The Rathbone, Surry Hills

A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

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Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

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Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

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La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

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La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

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La Vera delivers a nature-connected address within Macquarie Park’s core

Lismore

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The Lismore City area and the surrounding towns of Kyogle and Casino are relatively affordable in comparison to other localities on the NSW Northern Rivers/Far North Coast, according to HTW’s Month in Review: March 2017. 
The valuation firm says there is ample opportunity of first home buyers, with starting prices of $250,000 to $350,000 for a comfortable three to four bedroom, original home within Lismore City and approximately $200,000 to $275,000 within Casino and Kyogle.
The firm warns that first home buyers will face competition from investors.
“Advice to first home buyers would be to have modest expectations and start off small,” it says.
“We have noticed an increase in the advertising of housing stock from developers trying to appeal to the first home buyer.
“Such developments tend to be slightly different from the norm with emphasis on affordability and community living.
“Most of the residential structures in this instance are relatively compact and have shared community gardens/landscaping.
“Some developers have even self-imposed restrictions to only be made available to “first home buyers” and not investors.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-lismore-124668750" target="_blank">308 Molesworth Street</a>, Lismore (above) has been listed for $259,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-lismore-124086458" target="_blank">31 Orion Street</a>, Lismore (below) has been listed for $285,000.
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Lismore an affordable option in the Northern Rivers: HTW

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<div class="page" title="Page 1">Manenti Quinlan &amp; Associates, in conjunction with John Hannigan Real Estate Services have announced the sale of the Rous Hotel, Lismore on behalf of the Bulmer family who have owned the hotel for over 20 years.</div>
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While the sale was looming earlier this year, the complications of the COVID-19 lock down required careful navigation.
The hotel occupies a prominent 1,745 sqm corner site and offers a Main Bar area, Bistro/Café Rous, Gaming Lounge with 12 devices, Enclosed Beer Garden and Large Carpark. On the first level, the Hotel offers “Reels Bar” Cocktail and Lounge Bar and a 2-bedroom fully self-contained Manager’s Residence.
After closing the Drive-Through Bottle Shop in April 2018, hotel trade was strategically repositioned to take advantage of growing function trade, with the old bottle shop space converted into “The Greenery” function area.
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Lismore City is located in the Northern Rivers Region of New South Wales, about 730 km north of the Sydney CBD, 47 km south-west of Byron Bay and 35 km west of Ballina.
Leonard Bongiovanni of Manenti Quinlan and Associates stated, “While we continue to field numerous enquiries for hotels in strong regional areas, the sale of the Rous Hotel demonstrates the continued appetite for these premium assets. Under the new ownership, the hotel is poised to be a local icon for many years to come”.
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Bulmer family's Rous Hotel in Lismore sold

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Little has changed from 12 months ago in terms of what one can score with a lazy $700,000, however the mixture of product may have varied slightly, particularly in the more regional areas of the Richmond Valley and Kyogle Council areas, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
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For example, consider the following:
◗ Ten $70,000 (or less) steep timber vacant 40 hectare bush blocks in the rural localities of Drake or Tabulam; or
◗ Five $125,000 to $135,000 standard vacant residential blocks in Casino or Kyogle. These would be relatively flat but may be slightly more than $125,000 individually, so a package deal of say five at the nice round figure of $130,000 each would be hard for a vendor to pass up in the current subdued market thanks to COVID-19.
◗ Alternatively, secure a near new, four-bedroom, two- bathroom dwelling with a double garage for around $450,000 to $500,000 and throw in an original two-bedroom,one-bathroom brick unit with carport for circa $150,000 to $200,000.
"There are not too many residential properties within Casino or Kyogle township that would use up the whole $700,000 in one transaction, however those that do are typically found in the nearby rural residential estates and usually deliver the full quota of features including air-conditioning, good quality appointments, pool, established landscaping or a full renovation," the valuation firm said. 
These rural residential properties are generally in close proximity to the town centres of Casino, Kyogle and Lismore City. Typically, such properties would comprise lots ranging in size from 4000 square metres to five hectares.
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Semi-remote rural localities with properties on lots from 40 hectares to even 100 hectares may be purchased for under $700,000 and still provide semi-modern homes with established ancillary improvements.
 However, distance and maintenance of the land are factors that any potential purchaser must consider, the report noted. 
A Kyogle house nestled below the Border Ranges National Park has recently been sold for $465,000.
The four bedroom, one bathroom home is located at <a href="https://www.realestate.com.au/sold/property-lifestyle-nsw-kyogle-700074310" target="_blank">1076 Green Pigeon Road, Green Pigeon</a> (pictured below).
It features open plan kitchen, dining and living room, rural views, and near 5ha of land. 
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"Within Lismore City, the lazy $700,000 is somewhat more restricted in its purchasing power, however opportunities still abound," the valuation firm said. 
Good quality level vacant residential lots are around the $250,000 to $285,000 mark in the new, developing residential estates... so buy two and possibly use the balance as a deposit for a house to be built on each of the lots, or maybe use the balance to purchase one of the steeper vacant blocks for around $125,000 to $135,000 (just keep in mind that your building costs will be significantly higher!), the report noted. 
It is still possible to find two residential house properties for around $350,000 each, however they are likely to be located in a flood prone area, need some cosmetic attention or front a busy road.
There are a number of two-bedroom, one- bathroom, brick and tile residential units with single carports available within reasonable proximity to shopping and educational facilities in Lismore City which have an expected price range of $185,000 to $225,000 and attract a rent of around $250 to $275 per week.
A current listing is two bedroom, two bathroom unit situated at <a href="https://www.realestate.com.au/property-unit-nsw-lismore-133011578" target="_blank">1/116 Laurel Avenue, Lismore </a>(pictured below).
The 90sqm unit has been listed for sale with a price guide of $229,000.
It comes with two bedrooms, one bathroom, open plan living and single garage. 
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"Failing that, and if you so wish, $700,000 would go a long way to fully, or near fully, acquiring a brand new four or five-bedroom, two-bathroom, double garage residence in the modern residential estates of Goonellabah or Lismore Heights (where most of the new build action is) with pool and established landscaping," the valuation firm said. 
The rental assessments can vary widely depending on features, but expect something in the order of $550 per week.
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"At present, the market is still in the early stages of recovery from COVID-19, however there are encouraging signs with genuine enquiry improving (as real estate agents advise) and if you are one of those in the fortunate position of ticking all the boxes for the lender as a first home buyer or investor?? Wow!
"When are you ever going to get a better chance to buy real estate at ridiculously low interest rates which are unlikely to rise for some time yet as the powers that be try to kick start the economy from out of the doldrums?" 
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What $700,000 can buy in Lismore/Casino/Kyogle: HTW residential 

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The general sales activity and enquiry in Lismore, Richmond Valley and Kyogle areas have remained quiet, however, there does not seem to be any sense of a catastrophic drop in prices expected, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggest in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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"Following the COVID-19 restrictions in place from early March 2020, the question frequently asked is “How will the property market react during and after COVID-19?” 
"Nothing much has changed since our foray into this loaded question last month, apart from the fact that at least some restrictions are slowly being lifted," the valuation firm said. 
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"Providing locals are able to get back to work or retain employment and regain some sense of normality, a few brave souls have hinted at a launching pad for the local property market to rise!
"Think about it; the unprecedented low interest rates are unlikely to rise quickly due to a willingness by government and lenders alike to encourage the country to get going again...and this could be a scenario for some time yet," the valuation firm added. 
If a potential property investor, first home buyer or upgrader has all the boxes ticked for the lender, today could be a very good time to buy, the report noted. 
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Rental accommodation queries remain relatively strong.
With interest rates now at record low levels, there are a number of opportunities some may not have considered outside of the desire to buy a new build. 
Renovation could potentially feature in the minds of investors, developers, first home buyers and even upgraders. Borrow a few dollars to put some new life back into the tired and dated home.
The report suggests the cost is naturally going to be a key ingredient in the decision making as well as the end value of the final product.
"The option to do this in the Lismore region is to find an established, three-bedroom, two-bathroom dwelling within the $300,000 to $400,000 price bracket," the valuation firm said. 
For, Casino and Kyogle, a similar real estate product would be in the region of $250,000 to $350,000.
A three bedroom house in Casino was sold for $295,000 in April. 
The home at <a href="https://www.realestate.com.au/sold/property-house-nsw-casino-132689386" target="_blank">15 Beith Street</a> (pictured below) comes with L-shaped lounge and dining, modern kitchen, home office and garden shed.
It is located close to the Golf Course. 
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"There is no particular area of Lismore, Casino or Kyogle that has the upper hand on renovation activity.... diamonds in the rough can be found anywhere if you look hard enough," the valuation firm said. 
"Renovating an established dwelling rather than commencing a new build can achieve a lot....if done properly." 
A budget of less than $100,000 could provide an updated kitchen, bathroom, ensuite, general interior and exterior painting and floor coverings.
"Provided the renovation work emphasises the positive features that are already there OR introduces new features that the market place desires (do your homework for the areas you wish to invest or live in as each locality is different), then the cost to added value ratio could yield some reasonable capital gain....and nicer digs to reside in!" the valuation firm said. 
However, the trick is not to over capitalise. 
A good option is to seek out those large homes with only two bedrooms and a large living space, the report noted. 
Cut the living room to provide a third bedroom and the rental would naturally improve to reflect that of a three-bedroom home.
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Older style, turn of the century homes are quite popular for those with an interest in timber and the old world appeal.
One good example is a property at <a href="https://www.realestate.com.au/sold/property-house-nsw-girards+hill-129516530" target="_blank">62 Cathcart Street, Girards Hill</a> (pictured below), out of the flood area and an easy walk into the CBD.
The property is a beautiful, circa 1880s timber home with expansive verandahs and fully renovated interior that maintains the heritage character set amongst well established landscaping, trees and mature gardens.
<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/2020/6/10/girards%20hill%201.jpg" alt="">
It sold for $880,000 in mid 2019, the price being a record for the suburb of Girards Hill in recent years.
However, the cost to renovate and maintain such prized, older-style, weatherboard homes needs to be strictly monitored as one could easily get carried away.
"In summary, from a conservative perspective, the purchase of an established house with opportunities to renovate would be a more viable option and purposeful stepping stone to something newer in the future without the millstone of large debt around the neck.
"There are land and house packages available today which are competitively priced but are still above the expected price for an established dwelling of average to moderate appeal.
"Besides, the established house does provide the opportunity for the owner to put their stamp of identity on the renovation project whereas a house and land package is simply that - what you see is what you get and any subtle changes to the design could bring on a wallet attack." 
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Tips for renovating established dwellings in Lismore/Casino/Kyogle: HTW residential 

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Lismore will experience uncertainty in expected production this year for most rural industries, according to the recent Herron Todd White (HTW) rural report.
The property valuation firm suggests that the weather and subsequent farm production levels are foremost in the minds of farmers at the start of this year. 
The report was issued in early February before the heavy rains across some of NSW.
"Anecdotal reports indicate that there may be a reduced macadamia crop," HTW reports.
"Parts of the sugar industry did not complete 2019 planting and ration crops in some areas have struggled in the dry conditions, the summer crop planting of soya beans has been restricted with the planting window to close in the next few weeks."
"Pasture conditions for beef and fairy farmers are challenging in the dry conditions."
"There has been a slight upswing in world sugar prices, but a long way to go," HTW suggests. 
"Lower production levels and lower farm incomes may limit farm purchase activity." 
"The exception being farms that have rural lifestyle attributes to attract more cashed up purchasers from urban areas."  
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Lismore expected to see lower production levels in 2020: HTW rural

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The residential market for the 2020 year ahead in the Lismore, Casino and Kyogle area is likely to experience some improvement, continuing on the heels of the last six months of 2019 when sales activity started to show signs of confidence after six months of subdued activity, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their values to give an educated outlook on the residential market in their service areas.
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"Key factors to potentially influence house prices for 2020 include the projected low interest rate environment which last saw a 0.25 percent cut in October 2019 to an unprecedented low of 0.75 percent Reserve Bank rate, and it appears there possibly may be more cuts! 
"However, it will be interesting to see how lenders react in their lending decisions which ultimately impact the success of most first home buyers and investors," the valuation firm said. 
Providing that all the lender’s boxes are ticked, the savvy first home buyer and investor could do quite well this year as banks competitively seek their business.
"And yet, we are still stuck with the limited stock available complaint (as oft repeated by local real estate agents)," the valuation firm said. 
 So whilst the low interest rate environment may be considered conducive to an increase in potential property enquiry, if there is no product available, then competition will ultimately rise for what is available and potentially see prices improve.
"It is interesting to note that in both Casino and Kyogle, there is very limited supply of vacant residential lots available for sale," the valuation firm stated. 
This concern has been expressed with the Richmond Valley Council taking the initiative in acquiring one of the very few residential englobo lots available for sale in Casino. 
The Council has some good form on this initiative, having recently completed the sale of all available vacant residential lot stock in the Settlers Estate on the eastern fringe of Casino. 
"It is expected that due to the limited supply of vacant residential land, demand for such a product is likely to be relatively strong especially since the prices are still considered to be reasonable for flat land.....think sub $150,000," the valuation firm said. 
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Lismore City is faring rather better with new residential estates coming to fruition such as Hidden Valley Estate and other planned estates at Eastwood in Goonellabah which has already received positive enquiry with approximately 135 new lots to be created. 
The market for vacant land has been steady up to this point in the Lismore City area. 
The report notes level blocks are expected to continue to remain steady, however more steeply sloping blocks requiring significant foundation works and increased construction costs may require some discounting from developers to shift.
Prices continue to improve to the point where the vast majority of level blocks are now well in excess of $200,000.
"With much of the land in Lismore City becoming available throughout 2020, local builders and project building companies will have plenty on their plates, so much so that we have noted a significant increase in construction costs in 2019 and likely to continue in 2020," the valuation firm said. 
However, this does not appear yet to be dissuading owner-occupiers from building.
The demand for rental accommodation in Casino, Kyogle and Lismore City throughout 2020 is likely to remain relatively strong, particularly if first home buyers can not secure finance and therefore need to look for places to rent. 
Newcomers to the area have also raised the enquiry level for accommodation.
A one bedroom unit located within walking distance to Lismore CBD has been listed for rent with a price of $240 per week.
Located at <a href="https://www.realestate.com.au/property-unit-nsw-lismore-428329638" target="_blank">4/9 Jubilee Street</a> (pictured below), the unit features floorboards throughout kitchen and living area, garage  and plenty of storage. 
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Properties north of $550,000 within Lismore City still appear to be in demand for the well-heeled owner-occupier looking to upgrade.
For Casino and Kyogle, residential properties in the $400,000 plus bracket are generally limited in number but tend to sell reasonably swiftly when offered for sale.
A new listing is a Casino three bedroom house priced at $388,000.
The freshly painted house is located at <a href="https://www.realestate.com.au/property-house-nsw-casino-132902994" target="_blank">17 Cumberland Street</a> (pictured below).
Nestled on an 837sqm of land, it features modern kitchen, open plan family and dining area, and covered outdoor entertaining area. 
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"In summary, Lismore City is a quiet achiever with Casino and Kyogle holding their own. 
"Their proximity to some of Australia’s best coastline, a strong employment base from the government, education and rural sectors combined with relative affordability is likely to insulate these areas from significant falls that seem to befall larger, metropolitan areas," the valuation firm stated. 
"In a market where the expectation is that improved properties are likely to continue be restricted in supply and coupled with a low interest rate environment, we should see some up-tick in prices across the board." 
In short, 2020 is expected to be a year of slightly improved growth for Lismore City, Casino and Kyogle, however the rural lifestyle or rural farmlet sector can expect some hurt, especially if the protracted dry conditions continue.
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Lismore, Casino and Kyogle residential markets likely to improve in 2020: HTW residential 

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About 25% of Lismore’s population lives in rental accommodation with the median rent now being $395 per week for houses and a median rental yield of just under 4.7%, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the country to dissect where to find best returns in residential markets. 
The official population of Lismore City as at 30 June 2018 was 43,843 according to the Australian Bureau of Statistics.
The median rent for units in the Lismore area is $275 per week, with a median rental yield of just over 5%.
With a low vacancy rate relative to many regional centres of 1% and the ability to buy a four-bedroom, two-bathroom dwelling for under $400,000, Lismore and its surrounding suburbs represents an opportunity to invest in property without going into debt up to the eyeballs.
"The trade-off for this relative stability is normally lower capital growth, however for the first time investor, building a stable base for a property portfolio is important," the valuation firm said. 
<a href="https://www.propertyobserver.com.au/images/2019/10/21/lismore%20median%20sale%20price.jpg" target="_blank">Click here </a>to enlarge: 
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Source: HTW 
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Lismore's median rental yields just over 5%: HTW residential 

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The usual resident population of Lismore in 2011 was 42,763 people.
By 2016 the population was 43,135 showing a slight increase during the elapsed period, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what's bringing new residents to different residential markets or, conversely, driving them away. 
The following table outlines the migration patterns for Lismore from 2011 to 2016.
<a href="https://www.propertyobserver.com.au/images/2019/9/26/lismore%201.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/2019/9/26/lismore%201.jpg" alt=""> 
The following table indicates that the Lismore unemployment rate has decreased in the period from 2011 to 2016.
The report notes Lismore City’s building approvals are used as a leading indicator of the general level of residential development, economic activity, employment and investment.
"Residential building activity depends on many factors that vary with the state of the economy including interest rates, availability of mortgage funds, government spending and business investment," the valuation firm said. 
The following table and chart indicate a substantial increase in building approvals in the past three years relative to the years prior to 2015.
<a href="https://www.propertyobserver.com.au/images/2019/9/26/lismore%202.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/2019/9/26/lismore%202.jpg" alt="">
Source: HTW 
"The statistics are an indication of a relatively stable local economy in the Lismore area with stable migration patterns, adjoining regions enjoying relatively solid growth and reasonable localised employment prospects.
"The Lismore area is increasingly being viewed as a more affordable alternative as the coastal areas of Ballina, Lennox Head and Evans Head reach price points that are beyond the reach of many people," the valuation firm said. 
Demonstrating this is a simple price point comparison of what $500,000 can purchase in Goonellabah, a suburb of Lismore, compared with Evans Head, a beachside town with a population of only 3,100 people.
<a href="https://www.propertyobserver.com.au/images/2019/9/26/lismore%203.jpg" target="_blank">Click here</a> to enlarge:
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<a href="https://www.realestate.com.au/sold/property-house-nsw-goonellabah-129515394" target="_blank">30 James Road, Goonellabah</a> (pictured below) is a well built, 2002, four- bedroom, three-bathroom, two level modern dwelling that sold very recently for $500,000.
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<a href="https://www.realestate.com.au/sold/property-house-nsw-evans+head-130809454" target="_blank">3 Anson Avenue, Evans Head</a> (pictured below) is an older high set residence consisting of one bedroom plus two enclosed veranda or sleep outs, together with an open plan lounge, dining and kitchen.
It has recently gone under contract for $530,000.
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Lismore new residential building approvals indicate stable local economy: HTW residential 

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Many first home buyers feel a sense of optimism about commencing their journey into the property market, according to the latest Herron Todd White (HTW) residential report. 
The report notes that obtaining real value for money, affordability (repayments) and wariness of making a mistake are their key concerns.
Many first home buyers can be categorised into two groups:
1. Those who are over the rental roller coaster and the high costs of renting even a modest property in their preferred location
2. Those who want the perceived stability of owning their own home and are intent on building a nest for their existing or imminent family.
"Within the Lismore locality, the affordable end of the market that provides an entry into the property market for let’s say less than $350,000 offers a wider range of choice not available in the beach side or coastal areas," the valuation firm said. 
A three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-east+lismore-130399394" target="_blank">103 Nielson Street, East Lismore</a> (pictured above) sold for $335,000 earlier this year.
The property is flood free according to Lismore City Council records, is within 50 metres of sporting fields, three kilometres by road from the Lismore CBD and within one kilometre of the Southern Cross University.
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Built in the 1950s and recently internally renovated, this three-bedroom, one-bathroom dwelling is set on a 506 square metre, near-level lot with a single garage and room for a shed at the rear or a carport in front of the single garage.
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<a href="https://www.realestate.com.au/sold/property-unit-nsw-goonellabah-130861762" target="_blank">3/25 Cambridge Drive, Goonellabah </a>(pictured above) sold for $320,000 in April this year.
The property is flood free according to Lismore City Council records, backs on to a bushland reserve and is within one kilometre of schools, parks and Goonellabah shopping centre and aquatic centre.
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Built in 1994 and recently internally renovated, this three-bedroom, one-bathroom unit has a single garage and has been well maintained. 
A paved outdoor area at the rear overlooks bushland. There is scope to further improve this unit and add value by adding a rear pergola and updating the kitchen to suit.
Upgrader home buyers
"Upgraders feel the need to expand their living to cater for growing families, create more comfort and move on up the property ladder.
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"Within the Lismore locality, upgraders from the entry level end of the property market with a budget between $350,000 and $600,000 have a wide range of choice that again is not available in the beach side or coastal areas," the valuation firm noted. 
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A renovated three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-east+lismore-131185078" target="_blank">45 Barham Street, East Lismore</a> (pictured above) sold for $450,000 in May this year.
The property is well elevated with district views and is within 2.5 kilometres of schools, Lismore golf course, sporting parks and Lismore Square shopping centre.
Built in 1985, it’s a two storey, three-bedroom, one-bathroom, renovated, detached modern dwelling with a two-car detached garage and two-car attached carport. 
The dwelling has room to remodel the lower level rumpus room into more bedrooms or a home theatre room.
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Rendering the external brick skin, expanding the rear pergola to a large deck and adding an infinity edge pool could take this property to the next level and add significant value, but watch the budget!
Prestige-end buyers
"Prestige property in the Lismore area is to be taken in context. This is property that offers features, dwelling size or views that are not available to the upgrade market or first home buyer price levels.
"Whether it be from a win, windfall or just plain hard work, people in this market expect that their property is a cut above the rest and they deserve to be there," the valuation firm said. 
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At a price point above $600,000, local prestige property is available but sells less frequently and sometimes the best properties sell by word of mouth or by an unsolicited approach.
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A 2004-built home at <a href="https://www.realestate.com.au/sold/property-house-nsw-goonellabah-130722654" target="_blank">11 Sophie Street, Goonellabah</a> (pictured above) sold for $618,000 in May this year.
The property is well elevated in a modern estate with local views and is within three kilometres of schools, sporting parks and Goonellabah shopping centre.
Built in 2004, this two storey, four-bedroom, two- bathroom, detached two-level modern dwelling has 213 square metres of living area, large rear deck, a double lock up garage, extensive landscaping and a below ground pool all on a 788 square metre allotment. 
Features include:
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Additional storage area under the dwelling could be used to further expand the living area, but all that really needs doing to this property is just to keep it well maintained and tidy.
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A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-richmond+hill-130232890" target="_blank">4 Quail Place, Richmond Hill </a>(pictured above) sold for $840,000 in April this year.
The property is well elevated with good rural and distant hinterland views, and is within a ten minute drive of schools and Goonellabah shopping centre.
Built in the 1980s and renovated in 2012, this part two level, four-bedroom, three-bathroom, detached semi-modern dwelling has 278 square metres of living, outdoor areas of 94 square metres and is on a 1.54 hectare allotment.
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The property has room to be improved with a shed, pool, stable or tennis court.
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Lismore first home buyers feel optimistic: HTW Residential 

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The Lismore industrial market is dominated by older style industrial development, according to the latest report from Herron Todd White (HTW).
The financial valuers found it comprises a mix of small to medium sized owner-occupied sheds and a scattering of larger complexes generally of a modest style and appeal.
As such, the found industrial properties tend to be sub- $500,000 for stand alone, single or twin tenanted properties.
When purchased by investors, they expect yields of 7-9% return with the lower yields more likely to be owner-occupiers where yield and return are not the driving factors.
The report authors noted,:"Larger complexes would tend to be eight per cent to 10.5%, however they are rarely transacted."
"Investors are less active in this market as yields tend to be relatively low compared to risk.
"This is a result of the owner-occupier market driving yields down and is compounded by the fact that the rental market is static.
"Despite this, Lismore’s industrial market is mature and tenants are relatively stable with well established businesses, not adversely impacted by the upward pressure on rents being experienced in coastal localities. As such the industrial economy has tended to avoid the boom and bust cycle."
A current listing on the rental market is a North Lismore 280 square metre storage shed (pictured below) priced at $1,278 per month.
The industrial shed at<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-lismore-503221606" target="_blank"> 1/67 Bridge Street</a> features double sliding doors, high ceilings in the first floor and toilet amenities. 
It is located within close proximity to the town.
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Another new offering is a South Lismore brick warehouse (pictured below) priced at $800 per week.
Located within an industrial complex, the warehouse at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-south+lismore-503276190" target="_blank">2/30-32 Habib Drive</a> comes with high roller door and wide driveway allowing easy access. 
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