Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

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Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

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Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
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Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Mildura

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In Mildura there have been few recent substantial sales to report on, however there are a number of large properties currently being marketed according to the latest report from Herron Todd White (HTW).
The valuation firm stated that the result of these will have to be closely watched to see the mood of buyers and whether any of the recent Federal government changes affecting foreign buyers have had any effect.
The Adveq Almond portfolio, which comprises 12,000 hectares of almond trees, originally developed by Timbercorp under a Managed Investment Scheme structure between 2001 and 2007, is being offered for sale.
"The scale of this portfolio is impressive and we expect that a number of institutional buyers will show interest," stated the report.
The agent’s comments suggest the current owners are hopeful of achieving a sale price above $300 million.
A second 'property of note' is a 1,200 hectare horticultural greenfield site at Trentham Cliffs, just to the east of Mildura.
The report noted that, this land is well suited to a variety of tree crops and is expected to receive strong interest, given the shrinking supply of available development land.
The substantial increase in rural values throughout north western Victoria over the past two to three years has seen unwelcome repercussions on council rating valuations, with many farmers reporting their local government rates have increased by up to 40% in recent years.
The fact that farm land values have appreciated to a much higher degree than all other property types is, however, hard to dispute.
The report concluded that farming lobby groups are currently working hard to change the mechanism for how rates are set.
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j.ballantyne1990-6AQqhLzZaK

Supply aplenty in Mildura's rural market: HTW

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The residential property market in the Mildura region shows no signs of slowing, according to the June report from the valuation firm Herron Todd White.
The region's selling periods remain comparatively low, often below 30 days, which contributes to agents having a shortage of listings, it noted.
The main sector to see growth is the upper end of the market, with a higher than normal number of sales occurring above $600,000
Many of these sales are in the surrounding semi-rural areas of Irymple, Nichols Point and Gol Gol.
This sales activity points to strong confidence in the local economy and is likely to also reflect a bit of a rub off effect, with some buyers having sold properties in metropolitan areas.
The valuers have noted, "a dramatic improvement in rural land values has been providing an impetus for older farmers to plan their retirements and we expect that this will bolster demand for better standard homes."
"In the past month, we have seen several examples of this occurring, including the sale of a riverfront property at Gol Gol for over $2 million", the report stated.
Values appear relatively stable in the lower end of the market, while mid-range properties appear to have risen by around 4% to 5% over the past two years.
"Building activity remains strong, with a number of residential subdivisions selling quite quickly", according to the HTW valuers.
The value of serviced lots has risen faster than established housing over the past few years due to a limited supply, which has helped developers recoup the higher cost of completing subdivisions.
The valuation firm forecasts that it is unlikely the current strong conditions will weaken during the remainder of 2018 and that while it appears that the Melbourne market has peaked, they expect that the Mildura market will continue to improve or at least remain stable.
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Mildura residential property market showing no signs of slowing: HTW 

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It is hard to see any reasons for the current buoyant Mildura rural property market not to continue throughout 2018, according to HTW valuer Graeme Whyte.
"The current property cycle is remarkable for the fact that virtually all local commodities are enjoying above average returns, with the outlook for most commodity prices currently being very favourable," the recent update advised.
"At the same time, there is a large pool of corporate buyers targeting Australian agriculture," added. 
Buyers are actively chasing most types of horticultural property as well as cropping and grazing enterprises and appear prepared to pay historically high prices for properties that provide good economies of scale and have a good standard of improvements.
There also continues to be large scale green field development of almonds, olives, table grapes, citrus and to a lesser extent dried fruit, however the pool of available land for such development is getting smaller. 
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The valuation firm noted the foundations for the current good export returns for commodities such as citrus, table grapes and almonds date back to many years of patient market development combined with the signing of free trade agreements with key Asian countries.
The ability of growers and marketers to ensure all market protocols are met will be the key to maintaining these lucrative markets.
"Maintaining a competitive exchange rate will also be important." 
The other main factor affecting the horticultural sector will be the irrigation water outlook, Whyte advised.
"There was above average winter rainfall (and snow fall) during 2016 and 2017, which contributed to high allocations in the Murray Valley and readily available temporary water on the leasing market.
"The cost of leasing water has been mostly below $130 per megalitre for the past 18 months.
"Forecasting future rainfall is beyond my brief, however history suggests that there will be a drier winter during one of the next few years and that at some stage, irrigators will have to face the prospect of paying more for temporary water." 
One of the more noteworthy recent sales is of <a href="https://www.realestate.com.au/sold/property-mixed+farming-nsw-arumpo-7893338" target="_blank">Petro Station</a>, which is a large scale cropping and grazing property located in south-western New South Wales, approximately 60 kilometres north of Mildura.
This property, held under NSW Western Lands lease, included approximately 8,400 hectares of good standard cropping country.
The $11.8 million sale was advised with the land transfer at $9 million. It was bought by GoFarm Australia which snared one of Victoria's biggest parcels of water with its purchase of Del Rios for around $22 million in 2016. The 900ha vineyard, north of Swan Hill and near the junction of the Murray and Murrumbidgee rivers at Kenley, was sold along with its 5476 megalitres of high-security water.
HTW advised the Petro sale shows over $900 per hectare for well regarded arable land, but located in an area with an average rainfall of around 300 millimetres.
It was offered for the first time in 73 years by the Doyle family.
The property is 26,685 hectares of which 9000 hectares is of cropping country with sandy loam soil type and solid cropping history and average rainfall 302.5 mm and 17,500 hectares approximately of grazing land with some 800 dorpers and 90 per cent fully fenced.
The property has a further 200 hectares cropping license undeveloped, and the balance of land consists of pristine Mallee scrub and locked up conservation in conjunction with Dept of Infrastructure and Natural Resources .
Petro has a permanent 21 megalitre water entitlement with private diversion from the Darling river via a 32 km, 2 inch line.
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Meanwhile, the purchaser of this property sold an 1,130 hectare parcel of mostly arable land adjoining the Robinvale irrigation district for approximately $4,500 per hectare, which showed a healthy 240% capital gain in the three years they owned it.
The purchaser of the Robinvale property is an established table grape growing family, who intends to complete a large scale horticultural development.
"This last sale highlights how quickly market sentiment in the horticultural sector can shift." 
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Some of the trends HTW expect to see during 2018 include:
• A large number of sales continuing to be negotiated in off market transactions, with both buyers and sellers willing to by-pass real estate agents. In most cases, buyers are directly approaching owners of properties deemed to suit their requirements. 
• The price gap between highly improved and just average standard properties will narrow. It will get harder to find highly improved properties and buyers will likely become more pragmatic as a result. 
• There will continue to be sales of winegrape vineyards where the purchaser intends to redevelop to a higher returning crop. 
• As the market moves through the current cycle, there will be some properties purchased for prices that are subsequently viewed as being at above market levels.
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Mildura rural market to remain bouyant in 2018 

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Home ownership in Mildura is still a realistic goal, with the median house price being around $260,000 and $180,000 for units.
Herron Todd White said in a recent report that families and older couples make up the largest percentage of people living in Mildura.
The majority of buyers in Mildura are owner-occupiers.
Statistics from Corelogic show the average time a home in Mildura is held is around eight years, which supports the theory that many buyers gradually trade their way up from entry level homes to better standard homes as their financial circumstances improve.
Over the past 10 years, first home buyers have shown a willingness to take on more debt in order to acquire more expensive first homes.
"No doubt the low interest rate environment has contributed to this confidence, however it appears that many first home buyers have much higher expectations than previous generations," wrote HTW.
"Most first home buyers in Mildura are looking for modern detached dwellings in better locations and will typically spend from $280,000 to $350,000."
The presence of attractive first home owner grants has made building a home an attractive option for many young people.
"Currently there is $20,000 available to first home buyers who build a home in Victoria and $10,000 in NSW, which when combined with the stamp duty exemptions currently available make this attractive for many people.
"We note however, that the cost of land and building has increased in recent years by at least this amount, making this option less attractive than it once would have been."
As an example, a three-bedroom house at 40 Golden Ash Drive (picture above) sold recently for $320,000 through Ray White’s Luke Hermans.
Another recent sale was a four-bedroom house at 281 Eighth Street for $256,000, (below) close to the median house price.
<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/2017/11/15/Mildura2.jpg" alt="">
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The HTW report noted that townhouses and units are mostly being purchased by either investors or retirees, attracted by the lower maintenance requirements.
"There has been a trend in the past five to ten years for many empty nesters to move from their large family homes to new townhouses on compact lots."
 The development of around 70 residential lots within part of the Mildura golf course has met with strong demand from this buyer segment who are typically spending between $450,000 and $650,000 to acquire good standard housing on lots of around 500 square metres, HTW advised. 
Buyers in Mildura still have a preference for detached dwellings and the relative affordability of land makes this possible. 
"Our constant theme is that owner-occupiers (and tenants) always show a preference for homes which have functional outdoor living areas designed to be shaded in the summer months. 
"Mildura has long, hot summers, and the ability to spent time outdoors is an important consideration for home buyers," it added. 
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Mildura's first home buyers have higher expectations than in the past: HTW

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Finding homes in the $250,000 range is now impossible in Mildura, according to Herron Todd White’s July report.
The property investment firm says that it would be better to look for a complex of three or four residential units.
“When posed with this question in previous years, our recommendation has been to buy two houses, each at $250,000.
“However it is now almost impossible to find a reasonable standard home in Mildura for $250,000.
“Selling prices of 3-bedroom dwellings, especially those in a better part of town, are now starting at around $275,000, and so this strategy is now beyond our reach.
“For this year’s recommendation, we would suggest looking for a complex of most likely three or possibly four residential units.
“$500,000 should buy a complex built in the late 1980s or 1990s and of a reasonable standard.
“The main attraction will be the gross rental return of over 6%,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mildura-125879142" target="_blank">5 Pearse Court</a>, Mildura (above) has been listed for between $270,000 to $290,000.
A similar three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mildura-125994882?listingType=buy" target="_blank">15 Kedmenec Drive</a>, Mildura (below) has been listed for $274,435.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/15%20Kedmenec%20Drive.jpg" alt="">
Factors such as living areas and car parking is important when looking for residential units Herron Todd White advises.
“The key is to find a complex which will be appealing to tenants, so look for reasonable size living areas and secure car parking, preferably in a west side or central location.
“The advantage of buying an entire complex rather than some units in a larger complex is the ability to control the management and co-ordinate any upgrading without the need to involve an Owners Corporation.
“Not only will this save money, it will also simplify management.
“In the past we have often observed that the downside of the higher rental return from unit complexes has been limited capital gain, however this seems to now be less significant, with recent sales showing that values of better standard complexes have increased at similar levels to detached dwellings.
“The higher interest in residential unit complexes is driven by buyers seeking consistent, annuity style returns.
“Some of these buyers would have historically focused on small commercial investment properties, however higher vacancy rates, particularly for commercial properties in the sub $500,000 price bracket, are a deterrent.
“Residential rents have also increased more rapidly than commercial units in the past few years,” the report advised.
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The $250,000 homes in Mildura becoming more expensive: HTW

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There has been limited sales activity in the Mildura region over the last month according to Herron Todd White's July report apart from the $84 million winery at Red Cliffs by Chinese wine making company Weilong.
According to HTW, a planning permit has been issued and approval granted to crush 84,000 tonnes of grapes annually with the winery operational for the 2019 vintage.  
In the Murrumbidgee Irrigation Area new plantings of Almonds are up due to the difficulty in finding remaining suitable land within an affordable distance from the Murray River.
"Data released from the Almond Board of Australia indicates that the area of plantings grew by 15.8 percent, or 4,904 hectares in 2016, and that a similar area of plantings is expected within the coming year," HTW said.
"If the forecast is correct, this will take the planted area to over 36,000 hectares.
"Much of the new plantings are now occurring in the Murrumbidgee Irrigation Area, due in part, to the difficulty in finding remaining suitable land within an affordable distance from the Murray River.
"The Webster Ltd owned Tandou farm, located just to the south west of Menindee, is to be de- commissioned, with the associated 21,900 megalitre water licence (mix of General and High Security entitlements), being acquired by the Federal Government for $78 million.
"Webster lobbied for this sale due to concerns over water reliability in the lower Darling River. Cotton and other irrigated crops have been grown on Tandou since the mid 1970s, however significant crops (more than 3,000 hectares) have only been grown in four of the past 12 years, with no crops sown over five of those years."
Property Observer hound 26Ha of agricultural land on the market at <a href="https://www.propertyobserver.com.au/https://domainrural.com.au/listings/details/2012119517" target="_blank">473 Coorong Avenue, Red Cliffs, Victoria</a> on the market, price undisclosed.
The property has multiple grape varietals including 6.5Ha Crimson Seedless, 10.7Ha Red Globe, 3.0Ha Menindee Seedless and 0.9Ha Long Crimson.
<img src="https://www.urban.com.au/images/2017/07/24/Screen%20Shot%202017-07-24%20at%2011.00.01%20AM.png" alt=""> 
Cowra Station, approximately <a href="https://www.propertyobserver.com.au/https://domainrural.com.au/listings/details/2011951746" target="_blank">25kms west of Mildura</a> (below) has a total area of 10,349 acres (approximately), 12kms of river frontage &amp; a 300 acre (approximate) billabong.
<img src="https://www.urban.com.au/images/2017/07/24/Screen%20Shot%202017-07-24%20at%2011.09.20%20AM.png" alt="">
It is currently operated as a mixed enterprise with sheep grazing, irrigated vegetable production &amp; cereal cropping and is on the market for between $4.5 to $5 million. 
 
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Limited sales activity in Mildura region over June: HTW

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Vineyard sales in Victoria's Mildura region are expected to strengthen on the back of farm gate prices for grapes and continued demand for local citrus fruits overseas according to Herron Todd White.
In the May report HTW noted the pending sale of a Riverland property in  South Australia will show over $20,000 per hectare (excluding water licences) for a high standard vineyard, reflecting an increase of around 50 percent over the past two years.
"The wine grape harvest has wound up for the year, with most growers feeling a greater sense of optimism than they have for many years," HTW said.
"Growers are reporting that farm gate prices for red varieties were generally around $400 per tonne and for Chardonnay around $300 per tonne.
"Larger growers can make a profit at these levels and we expect to see vineyard sales strengthen.
The citrus harvesting season will commence in the first week of May, with reports of continuing strong demand from the key export markets of China, Japan and USA. An average size crop is expected.
"There is currently a two year wait for citrus trees, with nurseries unable to keep up with demand.
"The recent sale of a citrus property at Ellerslie, just to the north of Mildura, showed levels of around $30,000 per hectare (excluding water licences) and exceeded most people’s expectations.
"The buyer was however motivated by the higher returns currently being generated and aware of the long lead time to source and establish new trees.
"Good rains over the past week have resulted in the best autumn break for many years.
"With wheat prices continuing to languish, yields will be the key again this year and the early break provides an opportunity for farmers to at least start the season with confidence. A large scale farming property, Petro Station, which has approximately 9,000 hectares of cleared land and is located approximately 45 kilometres north of Mildura is currently being advertised for sale and will be a good litmus test of the market. 
"The recent sale of a relatively small Western Division grazing property, Mazar Station, located 130 kilometres south of Broken Hill, highlights the strong demand from existing landholders in the region for additional country.
"The agent reported over 20 inspections and the sale price of just under $70 per hectare will equate to around $340 per DSE for a property with only modest building improvements and a relatively isolated location.
"Other sales reported include the Eulo/Kinross aggregation between Pooncarie and Menindee apparently at strong levels, whilst a report of the sale of Gundalundy Station in the Ivanhoe/Mossgiel area will show unprecedented levels for this area when the sale settles for open bluebush and grass plains country."
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Wine grape, citrus driving stability in Mildura's agricultural property market

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Activity in the rural scene over the past month in Mildura has finally seen the wine grape and table grape harvest in full swing after an abnormally late start to the picking season, according to Herron Todd White’s latest report.
The property data firm says that this will result in both harvests extending well into April.
The weather throughout recent weeks has been excellent for the grape harvest with warm conditions and no rain or storms.
“Reports filtering in advise that quality is high and above average yields are apparent for wine grapes, which on the back of slightly better prices this year is some welcome news for growers.
Growers are also reporting another good year in the table grape sector with prices remaining firm particularly for the better market preferred varieties,” the report stated.
The Bureau of Meteorology continue to forecast warm and dry conditions to remain throughout Autumn in the region.
“This is not overly good news for dryland cropping farmers who are looking to the skies for an early autumn break.
"The forecast late break will result in a larger area of land being dry sown throughout April and early May, with reports that some farmers have already commenced this practice,” the report warned.
HTW says that investment in rural regions are outstripping supply.
“Following on from previous editions, the ongoing interest and demand in the agricultural sector from international and domestic corporate entities investing in the Sunraysia region appears to be resulting in current demand outstripping supply.
"Prices being paid for good quality properties continue to firm with reports of a number of significant transactions in recent weeks of table grape, citrus and also an aggregation of dryland cropping land being negotiated, all at strong levels,” the report stated.
A horticultural wine grape rural property at <a href="https://www.realestate.com.au/property-horticulture-vic-red+cliffs-7885558" target="_blank">490 Lowan Avenue</a>, Red Cliffs (above) has been listed for between $310,000 to $350,000.
Similarly 23 acres of agricultural land at <a href="https://www.realestate.com.au/property-other-vic-yelta-7738223" target="_blank">637 Wentworth Road</a>, Yelta (below) has been listed for $220,000.
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Mildura wine property bringing in high to average yields: HTW

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The relative affordability of housing in Mildura is one of the region’s main attractions for first home buyers, according to HTW’s Month in Review: March 2017. 
The valuation firm says despite it being much cheaper to buy a home in Mildura than in any of the mainland capital cities, first home buyers still face the challenge of saving a decent deposit.
HTW says first home buyers must decide whether they are prepared to buy an older home and then complete some upgrading or set their sights higher and buy a new home.
“Traditionally, first home buyers would start with a basic, older house and then trade their way into a newer home,” the report says.
“In the past 10 years we have seen an increasing number of first home buyers electing to stretch themselves into a new home.
“This trend reflects greater aspirations and has been assisted by low interest rates.”
In reaction to this demand, developers have reduced the average size of lots in new subdivisions in order to keep price options below $100,000.
Despite this, HTW says that the cost of buying a new home is still going to be around $350,000 - beyond the reach of many first home buyers.
“For buyers looking at cheaper options, we would suggest looking at either an older house in an inner city location or a 1980s brick veneer on a good sized lot,” the firm says.
“These types of dwelling can be purchased for around $250,000 and can be upgraded once funds allow.
“They are also going to be in more central locations than some of the current subdivisions.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mildura-124171498" target="_blank">685 Walnut Avenue</a>, Mildura (above) has been listed for between $340,000 to $370,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mildura-123377662" target="_blank">3 Mayan Court</a>, Mildura (below) has been listed for between $359,000 to $385,000.
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Mildura developers cutting lot sizes to meet first home buyer demand: HTW

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The Mildura Homemaker Centre in north-west Victoria has found three new tenants, establishing its position as one of the town’s leading large format retail complexes.
Super Retail Group’s Amart Sports, Carpet Court and the Salvation Army have all signed new leases at the centre, taking three separate tenancies totalling 3,088 sqm.
Amart Sports’ entry marks the retailer’s first store in the Mildura market.
The deal was brokered by CBRE’s Tom Perkins and Chris Parry.
Parry said the Mildura Homemaker Centre’s strong national tenancy profile helped attract the new retailers.
“With seven existing national brands at the centre, these new retailers were eager to capitalise on the strong patronage at one of Mildura’s major shopping destinations,” Parry said.
Other retailers at the centre include Fantastic Furniture, Chemist Warehouse and The Good Guys.
Perkins added: “The Mildura Homemaker Centre represents a strategic location for the retail network due to the low cost to entry, including rent, advertising and employment – whilst also servicing a significant catchment due to the town’s isolation from other regional centres.”
Parry said recent deals highlight the strength of Victoria’s regional retail markets.
A case in point is the Rocklea Homemaker Centre in Bendigo, which was recently fully leased to primarily national retailers such as Fantastic Furniture, BCF and Pillow Talk.
“The centre subsequently sold for $35,000,000 - representing an equivalent yield of 7.43 percent,” Parry said.
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