Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

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The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

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ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

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Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

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Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

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“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

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Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

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Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

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TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

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The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

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640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

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“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

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The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

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Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Port Macquarie

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During 2019, we saw a sluggish start to the year due to various factors including a softening of investor demand in the residential market and uncertainty during the election run-up, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
"The May election with the reinstatement of the Liberal government, three interest rate cuts between June and October and the relaxing of some lending policies saw a steady increase in activity as the weather warmed up," the valuation film said. 
This had the Mid North Coast property market heading into the festive season on somewhat of a high.
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"With interest rates set to stay at historic lows or decrease further, natural population growth and out of town investors purchasing in the area, we believe that the way we finished 2019 will be the way we start 2020, with continued steady price growth and an increasing number of sales for our area. 
"We do note that approximately 60% of purchasers are from outside of the area," the valuation firm stated. 
"We believe the best performer for the year ahead will be the established well located areas close to town, beaches and infrastructure. 
"As we have seen for a number of years, some of the older areas are getting a face lift and younger families move into these areas and revitalise them." 
The report suggests some of the fringe suburbs with large land releases might see more subdued growth as developers continue to release additional land, sales numbers plateau and prices remain stagnant.
A two bedroom apartment located within walking distance to Port Macquarie's CBD has been recently sold for $840,000.
The north facing apartment is situated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-port+macquarie-132872910" target="_blank">402/5-7 Clarence Street </a>(pictured below).
The home features open plan living, large kitchen, covered balcony and single lockup garage. 
<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/2020/2/10/port%20mq.jpg" alt="">
Another recent sale was a three bedroom family home located close to Port Macquarie's CBD and St Agnes School.
The home situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-port+macquarie-132701006" target="_blank">14 Kyogle Place </a>(pictured below) was sold for $572,500. 
It comprises three bedrooms, sizeable lounge, kitchen overlooking pool area and alfresco area. 
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j.ballantyne1990-6AQqhLzZaK

Port Macquarie market expected to show steady price growth in 2020: HTW residential 

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The three busiest suburbs for auction locations this week are in New South Wales where Port Macquarie tops the list with 20 homes scheduled for auction, according to CoreLogic data.
Their data shows, Lane Cove and Randwick follow with 15 and 12 scheduled auctions respectively.
Auction volumes are set to rise this week, with over 1,000 homes scheduled for auction across the combined capital cities.
<img src="https://www.urban.com.au/images/2019/2/14/14-02%20CL.JPG" alt="">
CoreLogic is currently tracking 1,359 auctions across the capital’s, with volumes up by 46.4 per cent on last week (928), however the lower year on year trend continues with volumes down 31.8 per cent when compared to the same week last year (1,992).
Melbourne is expected to see the most significant increase in volumes over the week, with 607 properties scheduled for auction, up from 350.
Across Sydney, 501 homes are set to go under the hammer this week, increasing from 32.
Canberra and Perth will see an increase in activity over the week, while the remaining cities will see fewer homes taken to auction.
This Sunday, Damien Cooley will be Auctioneering for Elders Real Estate Port Macquarie at Rydges Hotel at 11 am, with a prestige canalfront listing at <a href="https://www.realestate.com.au/property/27-ballina-cres-port-macquarie-nsw-2444" target="_blank">27 Ballina Crescent.</a>
Amid the busy auction weekend in Port Macquarie is <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-129983054" target="_blank">88 O'Briens Road</a> (pictured in title).
The four bedroom three bathroom house comes with a price guide of $670,000 to $710,000
Set on 806 sqm, the listing notes the home was recently refurbished.
<img src="https://www.urban.com.au/images/2019/2/14/Port%20Macq%202.JPG" alt="">
Another in Port Macquarie is <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-130240306" target="_blank">6 Mahogany Hill</a>.
The three bedroom two bathroom house has an price guide of $599,000 to $658,000
Set on 1,018 sqm it is a 5 minute drive from the CBD.
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Auction volumes up 46% with Port Macquarie the busiest

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A Port Macquarie shopping centre, anchored by a Bunnings Warehouse, has bought by MPG Funds Management Limited for $44.65 million in an off-market transaction.
The centre is currently under construction with an expected completion date of Q1 2019.
The new Bunnings store will be over 18,000 square metre and be supported by an additional 2,400 square metres of large format retail.
James Wilson, national director of Colliers International’s NSW retail investment services business, said the sale represented a blended yield of 5.64%.
“Bunnings Warehouses are always highly sought after from a wide variety of investors,” said Wilson. 
“During the off market process Colliers International received strong interest from funds, syndicators and private investors.”
“Metropolitan and regionally located retail investments have continued to set benchmark levels due to NSW having a distinct lack of supply, with less than $100 million worth of freestanding investments publicly marketed YTD 2018.
“This scarcity of stock is in stark contrast to Queensland and Victoria. 
“Recent campaigns have resulted in unprecedented levels of domestic and offshore interest, with enquiry levels almost doubling since 2014.
“This reflects the growing depth of retail appetite for rare freestanding investment opportunities, including the highly prized Bunnings covenant.”
Brett Gorman, director of MPG, said the opportunity provided a great opportunity for its investors.
“MPG Funds Management is pleased to grow our long-standing relationship with Bunnings in a rapidly growing region of NSW,” he said.
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Brand new Bunnings-anchored site sells for $44.65 million off-market

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Port Macquarie in New South Wales was the busiest individual suburb for auctions across the nation last weekend, with 25 residential homes set to go under the hammer.
A Port Macquaire four bedroom house, near Ascot Park, was listed for sale with a price guide of $790,000 - $840,000 (pictured below), but it was passed in price withheld by McGrath Estate Agents.
The block last sold in 2015 at $245,000.
There were approved building plans in 2016 costing $262,000.
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<a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-127617098" target="_blank">Situated at 42 Black Caviar Parade</a>, it features multiple living spaces, tiered theatre and swimming pool.
It comes with four double bedrooms, gourmet stone kitchen, and full study or possible fifth bedroom.
It is five minutes from schools and shops, and ten minutes to CBD and beaches.
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No sale on Black Caviar Parade, Port Macquarie 

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The northern NSW coastal city Port Macquarie is the busiest location for auctions for the upcoming weekend according to CoreLogic.
<a href="https://www.realestate.com.au/buy/in-port+macquarie,+nsw+2444/auction-times-1" target="_blank">Port Macquarie</a> beats Manly (NSW), Wahroonga (NSW), Paddington (Qld) and Surfers Paradise (Qld).
According to CoreLogic auction activity across the combined capital cities is set to be quite subdued this week due to the NRL and AFL grand finals being held and the public holiday long weekend.
<a href="https://www.propertyobserver.com.au/images/2017/09/28/Screen%20Shot%202017-09-28%20at%2010.32.39%20AM.png" target="_blank">Click to enlarge</a>
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"There are 805 auctions currently being tracked by CoreLogic, down from the 2,759 held last week and only slightly lower than final results recorded over the equivalent week last year (872)," CoreLogic said.
"The most notable decrease in activity will be in Melbourne, where only 86 auctions are scheduled this week, while Sydney is set to host the highest volume of auctions this week, with 515 homes scheduled to go under the hammer, albeit volumes are well down on last week.
"Brisbane is expected to be the second busiest capital city this week, with volumes remaining relatively steady week-on-week, while the remaining capital cities are all expected to see a lower volume of auctions."
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In Port Macquarie, a three bedroom house one block from the beach at <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-126337178" target="_blank">16 Arncliffe Avenue</a> (above) is set for Saturday auction.
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jonathanchancellor-7SQnKwU6yx

Port Macquarie leads grand final weekend auction listings

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Increasing values, strong rentals and limited stock in NSW’s Mid North Coast is causing problems for first time buyers as they compete with the generally more affluent investor market, according to HTW’s Month in Review: March 2017.  
The valuation firm says the new rapidly developing outlying subdivisions to the west of Port Macquarie (Inneslake, Brierley Hill and Thrumster areas) and to the south (Bonny Hills and Lake Cathie) have seen high demand for residential blocks over the past year.
“Purchasers appear to be a combination of investors and new home buyers, predominantly in the $450,000 to $600,000 segment,” the report states.
“First home buyers are targeting the lower end of this segment and accessing the first home owner grants (for new homes).
“While this can be more expensive than some of the established areas closer to town, access to the first home owner grant is proving the difference.”
The firm notes that a shortage of available land is becoming a problem, with often only house and land packages available for purchase.
“First home buyers often have to opt for higher value land and building packages, which may cause some mortgage stress in the future if interest rates rise.
“In the larger towns, first home buyers have often opted for residential units and villas in the lower value range ($300,000 to $400,000) with not only the price but the low maintenance proving attractive.
“However these are also very popular with mum and dad investors who are finding that these investments are often neutrally geared and relatively low risk.
“This has seen significant increases in values for these lower end products.”
HTW cautions that the only product it advises first home owners in the region to avoid would be serviced apartments.
“As the option of rent-vesting is gaining popularity, we would advise first home owners to stay away from properties that can’t be lived in permanently,” the report says.
“While the appeal of low purchase prices may be tempting, the high ongoing running cost, low returns and limited prospects for capital growth see this segment as a no go for first home owners looking to get onto the property ladder.”
A two bedroom house at<a href="https://www.realestate.com.au/property-house-nsw-lake+cathie-124684366" target="_blank"> 6 Southern Ocean Street</a>, Lake Cathie (above) has been listed for $479,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-bonny+hills-124839222" target="_blank">8 Rodley Street</a>, Bonny Hills (below) has been listed for $655,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/09/8%20Rodley%20Street.jpg" alt="">
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First home owner grants making a difference in NSW Mid North Coast: HTW

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The NSW mid north coast region centred around the regional hub of Port Macquarie is still experiencing increasing values but at slower sale rates mainly due to a lack of available stock on the market, according to HTW's February 2017 update.
The valuation firm says in Port Macquarie, the rapidly developing and outlying subdivisions, both to the west and along the coastal strip to the south (Bonny Hills and Lake Cathie) are continuing to see rapid expansion with the high demand for residential land.
The other coastal towns and villages all along the mid north coast are also experiencing strong demand for land and modern dwellings and this is expected to remain strong and continue to grow in the coming months.
However there is a significant amount of vacant land and recently completed dwellings available for sale within these rapidly developing smaller towns and HTW consider that this expanding market may not be sustainable over the long term and anticipate that the growth may slow later in 2017.
“This current construction boom in some of these smaller towns may result in an oversupply of dwellings and land if demand were to lessen,” the report says.
During 2017, HTW expect that Port Macquarie will continue to remain one of the fastest growing regional centres in NSW for property investment.
New housing development continues to be based around the continuing growth of the Charles Sturt University campus, with an increase in the number of house and granny flats being built especially within the adjoining areas to cater for student accommodation.
The construction of the new Pacific Highway between Port Macquarie and Kempsey continues and is expected to be completed in late 2017.
“Last year demand from construction workers boosted the rental market in Port Macquarie, however we have noticed that rental demand and rates have plateaued and this is expected to continue for the next few months, although the continuing influx of university students will assist the rental market to remain strong,” the report says.
“The higher value, prestige properties and rural residential property markets in the region remain slow but steady, with slow demand combining to produce slowly increasing values.
“We have been quite optimistic for the region over the past two years and our optimism continues for the coming year.”
At the median price of $517,000 for houses a house such as the one at <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-124560190" target="_blank">20 Merinda Drive</a>, Port Macquarie (above) is available for $535,000.
Similarly at $340,000 a unit such as the one at <a href="https://www.realestate.com.au/property-apartment-nsw-port+macquarie-119127067" target="_blank">22/48 Pacific Drive</a>, Port Macquarie (below) is available for $340,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/22_48%20Pacific%20Drive.jpg" alt="">
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Port Macquarie market remains strong on back of Pacific Highway construction: HTW

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With the federal election now over and an interest rate drop of 25 basis points in August, the property market in Port Macquarie is again showning signs of gaining momentum, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says real estate agents report that they are scratching the bottom of the barrel for listings.
Demand within the Port Macquarie township mainly between the market range of $350,000 to $450,000 for three bedroom older houses, two to three bedroom villas and new dwellings within the outer suburbs close to the university have been "hot, hot, hot" with sales being achieved either prior to advertising or within days afterwards.
One example of a property within the most active price range is the three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-123509162" target="_blank">31 Marian Drive</a> (pictured above) that is for sale for $369,000.
HTW advised that property prices have started to become inflated as buyers compete for properties.
"This has spurred sales of vacant land within the outer suburbs of Port Macquarie and in the small surrounding villages with many new subdivisions close to being sold out prior to being registered," the report stated.
Subdivisions at Crestwood, closer to Port Macquarie, are seeing higher priced and higher quality dwellings being built on these lots, fuelling the outer subdivisions such as Sovereign Hills and Lake Innes where a more reasonably priced lot and dwelling can be achieved.
HTW noted an increase in construction of dual occupancy style dwellings.
"These generally comprise a three bedroom, two bathroom dwelling with an attached two bedroom, one bathroom for the owner’s parents or as a separate rental.
"We suspect that this momentum may continue for some months, especially with the Christmas holiday season still to come."
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Dual occupancy properties on the rise in Port Macquarie as price inflation emerges: HTW

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If you're looking to park the 'lazy half-million' in NSW Mid North Coast, it won't go as far as the previous years, according to property valuation firm Herron Todd White in their July 2016 residential market report on dwellings in the sub $500,000 range.
Port Macquarie particularly has limited stock available in this price range compared to last year and generally only includes properties such as villas or units, three-bedroom dwellings and smaller older style four-bedroom dwellings, says the report.
Combined with the limited stock and another drop in interest rates in early May the market has remained buoyant with more buyers than sellers. There are now limited areas of Port Macquarie where these sub $500,000 properties can be found for purchase. Areas include Flynns Beach, Clifton and the outer western fringes of the township. Dwellings in this price bracket are becoming rare within other areas of Port Macquarie and are therefore being sold very quickly whenever they come on the market. Rents have eased slightly, however current high demand is evident around the CBD, hospital and Charles Stuart University areas.
"We note that there are several student accommodation style developments currently under construction within these areas and once complete, will provide good supply and therefore rental growth may slow," say HTW.
HTW considers the following areas as solid investment:
• Good quality older villas or lower end villa complexes, consisting of two villas sold as in one line, have been popular with investors producing an almost positively geared return.
• Three- or four-bedroom older homes on the eastern side of Port Macquarie or near the CBD, around the $450,000 to $550,000 mark, are also producing good returns in most instances and have excellent potential for future capital growth.
• New house and land packages in the outer and western regions of Port Macquarie and nearby towns and villages can be purchased between $450,000 and $550,000. While theses dwellings are not located within the main stream capital growth area, tax depreciation is making up the shortfall for the prudent buyer.
Port Macquarie on the mid north coast still has the highest rates for capital growth and rental returns. The smaller regional and coastal towns and villages have also showed signs of slowing with properties remaining on the market longer and purchase prices not being achieved. However, rental returns for the above areas remain firm with limited vacancies.
Property Observer found a four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-120104681" target="_blank">4 Clifton Drive, Port Macquarie, NSW 2444</a> (above) recently sold for $390,000.
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NSW'S Port Macquarie offers best capital growth in sub $500,000 property range: HTW

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At Port Macquarie, NSW, some $2.3 million is being sought for Grantham, a historic 1892 built home.
It is on the market for only the fourth time, listed by the contractor David Bawden and his health worker wife Gaylene.
<a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-122751930" target="_blank">Grantham</a> was built in 1892.
They are only the third owners in the property’s history having lived in the home for 30 years. 
The couple extended and restored it in 1992 and it now has five bedrooms, two bathrooms, home theatre, lounge room with fireplace and a dining room. 
Llocated on a hill, two kilometres from Port Macquarie CBD, Mark Carter of Ray White has the listing.
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