Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Property Development

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Longton Property’s $300 million Avantra project in Mascot has released 61 apartments, the final apartments in its Nettleton Tribe-designed complex.
Avantra consists of 328 luxury apartments across two towers. More than 60 per cent of all released apartments are now sold.
The North Tower has 12 levels with rooftop swimming pool, landscaped garden and communal entertaining area.
The South Tower has 13 levels and also features a rooftop garden and BBQ area.
The two towers feature ground floor retail, with a total of 13 retail tenancies and are envisaged to be anchored by a major supermarket.
The final release will include a selection of studios, one, and two-bedroom apartments located in both the north and south towers and priced from $795,000 to $1.3 million.
Belong Realty sales director, Alan Ha said these apartments are the most premium ever released in Mascot.
“Each apartment will feature stylish and urban interiors offering award-winning designs by Archer + Wright including European tiles, broadloom carpet, timber floorboards and Delonghi appliances, as well heated towel rails and wine cabinets to add that extra touch of luxury.
Avantra's generously sized one-bedroom apartments start from 75 square metres, two-bedrooms from 100 square metres and three-bedrooms from 154 square metres.
Mascot is one of the final areas in Sydney to offer large off-the-plan apartments with local planning authority Botany Bay City Council being one of the few councils to stipulate large sized apartments as the minimum standard.
Situated at <a href="https://www.avantra.com.au/" target="_blank">659-669 Gardeners Road</a>, Avantra is primarily positioned within close proximity to the Sydney Domestic and International Airports, Botany Bay, and just 15 minutes from the Sydney CBD.
Longton Property Group Director Winnie Pi said Longton Property is committed to delivering a community that residents are proud to call home.
“Construction on Avantra with Built is currently underway and we are pleased to announce that it is due for completion in mid-2017,” Ms Pi said. 
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jonathanchancellor-7SQnKwU6yx

 Longton Property release final Mascot apartments

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As I sat eating dinner with my two sons, the perfect opportunity arose to explain why investing early is so important.
The telly was on and the news story was about uni students degree costs increasing with some changes that the government was proposing to introduce. There was all types of hysteria being reported about degrees costing around $120,000.
I turned to my thirteen year old son and said..."and that's why you need to get into property investing early". 
"Yes I'd love for you to have a uni degree but if you can get started on your property investing early then this will build your wealth faster than your first job can fresh out of uni."
I went on to give him a quick overview on how property investing works. It went something like this...
"When you turn eighteen and have some kind of job, you can buy a little apartment somewhere, we'll use the term deposit money we've been saving for the deposit because that's been growing using compound interest." 
"What's that?" he said.
"It's earning interest from the bank on what you've saved. Then you add the interest each month to your savings and earn interest on the total amount. This keeps on growing, like magic!" I said "You don't have to do anything but keep putting a bit more money in the account".
"Ok, let's get back to that small apartment you'll be buying. Someone will want to live in that little place of yours and they'll pay YOU rent.  You'll be a landlord!  Whilst the rent may not quite cover all your costs, the government might give you a little bit to help as well".
"wow" he said..."that's cool of them".
Then I thought I'd better explain that he will be paying tax on some of the money he earns. "What's tax?" he asked. 
I could see my dinner quickly turning into an economics lesson.  But keeping it really simple I just said "Tax is the money we have to pay to the government when we earn money. They use it to provide stuff for the community like schools and hospitals".
After this very simple overview, I could see him starting to understand.
I said "when you sell this little unit ten or twenty years later, it could be worth double or triple what you paid for it".  And, if you renovate it - add value - you will get more for it.
He was already aware of the concept of adding value thanks to the chats in the car on the way to my development sites.
As he got up to clear the table, I think my message got through when he turned and said, "you know when the value of the house goes up that's like the compound interest magic too isn't it?"
"Yes my darling it is!" I said, ..."but the magic only works if you hold onto the property for a long time."
"OK then", he said. "How much will you give me if I do the dishes tonight mum?". 
I laughed and said, that's your job anyway but I have other jobs you can do to earn some extra cash.
My hope is that these little chats all start to gel over time and the concept of starting to invest in property early is put into action in a few years time. We'll see.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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jochivers-wq5Bp59R5a

Dinner time economics: Jo Chivers

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GUEST OBSERVER
Recognised for its wilderness, tourism, and mining, the local government authority (LGA) of West Coast has officially produced the best total property investment return of all Tasmanian LGA’s over the last fifteen years.
The population of West Coast has declined over the last ten years and, according to 2014 Census, is a mere 4,527 people. When combined with its high unemployment and rather remote location it’s unlikely that even the most astute property investor would even bother typing ‘West Coast’ in to their search engine. But, the actual returns on investment have been absolutely spectacular.
$21,750 is what one would have paid for a typical house at the start of 2000 and, even though properties declined by 34% over the last 6 years, it would now be worth $70,000.  As they say, small fish taste sweeter!
West Coast’s average annual capital growth of 9.4% is well above the 8.0% national average for the same period. An 11.1% rental yield means that its total return of 20.5% has it ranked number four in Australia over the last 15 years. Yes, 4th out of 550.
Propertyology conducted a study to compare the historical property market performance of each of Australia’s 550 local government authorities between 2000 and 2014. Given that some property markets have higher rates of growth and others have higher rental yields, Propertyology calculated the ‘total return’ (average annual growth rate plus rental yield) and we then ranked the LGA’s from 1 to 550 based on this performance.
Of the seven LGAs which make up the Greater-Hobart capital city, Derwent Valley was the highest ranked LGA at 24th – impressive stuff! Hobart City was ranked a very respectable 147th (ahead of every LGA in Sydney and Melbourne). Sorell (55th) and Glenorchy (58th) were ranked in the best 10% in Australia over the last 15 years.
29 of the total 550 Australian LGA’s are in Tasmania. Twelve of those LGA’s featured in Australia’s Top 100 (the best 20%). Australia’s smallest state bats well above its weight in respect to property market performers over the last 15 years.
These results are further proof that, in isolation, population growth is not a magic potion for property price growth. Data from ABS confirms that Tasmania’s population grew by an average of 0.8% per annum, the lowest of all states and well below the national average of 1.7% per annum.
Tasmania’s north performed particularly well. Kentish (32nd), Burnie (59th), Devenport (113th), Launceston (87Th), and West Tamar (153rd) were strong performers. 
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SIMON PRESSLEY IS MANAGING DIRECTOR OF <a href="https://www.propertyology.com.au/" target="_blank">PROPERTYOLOGY</a>, AN REIA HALL OF FAME INDUCTEE, PROPERTY MARKET ANALYST, ACCREDITED PROPERTY INVESTMENT ADVISER, AND BUYER’S AGENT. PROPERTYOLOGY WORKS EXCLUSIVELY WITH PROPERTY INVESTORS TO PURCHASE PROPERTIES IN STRATEGICALLY CHOSEN LOCATIONS ALL OVER AUSTRALIA.
 
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Tasmania’s property market scorecard: Simon Pressley

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Mrs Australia 2012, Veronica Cristovao and her property developer husband Duarte have sold the second waterfront duplex in Chiswick.
The Cristovaos built the duplex on the prime north-facing site after having bought the land in <a href="https://www.realestate.com.au/property-house-nsw-chiswick-120516033" target="_blank">2010 in $3,655,000</a>.
Duarte and Veronica founded Collingwood House, a property development &amp; property management company.
The latest architect-designed residence on Abbotsford Bay features five bedrooms, four bathrooms, infinity pool and approval for shared jetty.
The home’s twin was sold two years ago for $3.6 million to downsizing greengrocer supremo Chris Parisi and his wife Emily. 
BresicWhitney agent Nicholas McEvoy was scheduled to take the latest offering to auction with $4.35 million plus hopes, but secured $4.85 million two days before the auction, the highest sale for a duplex on Fortesecue Street.
Happy with the profit they've made, the Cristovaos are already seeking their next project in the surrounding areas, with Woolwich and Drummoyne of interest.
Veronica also recently opened a children's store, Diamond Kids Boutique close by on Victoria Road.
Their Collingwood House website advises Veronica has a background in real estate and has studied interior design. Duarte is a licensed builder, learning the tools of the trade working alongside his father in property development.
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Record price for Chiswick duplex 

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Fresh listings nationally are up 4.9% when compared to the same time last year, with 44,753 properties advertised over the last 28 days, according to CoreLogic RP Data.
CoreLogic RP Data's latest Property Pulse found Sydney had the largest increase in new listings when compared to last year at 19.0%. 
New listings are up in Melbourne, Brisbane, Adelaide and Canberra and lower in Perth, Hobart and Darwin and total stock levels  down 0.3% nationally and up 1.7% across the combined capital cities. 
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Fresh listings nationally up 4.9%: CoreLogic RP Data

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Sam Perrett, whose season ended last Friday night when the Bulldogs lost their NRL elimination final, has established a property investment and development company, The Perrett Group. 
The 30-year-old Kiwi international buys land, constructs houses and then offers them for sale or investment, mostly around Sydney.
He's just completed an impressive four bedroom, two bathroom family home at Gledswood Hills, on a $254,000 block in the new housing estate near Camden. 
There are now plans to build a display home at Campbelltown to showcase his design and construction expertise.
“People will be invited to invest in The Perrett Group,” said Sam, who has completed a carpentry apprenticeship, obtained a builder’s license and a diploma of business. 
“We will purchase and develop land, then build and sell our homes. Everyone involved will benefit from our profits.”
An ambassador for the Housing Industry Association, and the NRL Trading Up program where he mentors apprentice tradies, Parrett joined the Canterbury-Bankstown Bulldogs in 2012 from the Sydney Roosters.
The slogan for the<a href="https://perrettgroup.com.au" target="_blank"> Perrett Group</a> is ‘Building and improving life’, a mantra Perrett seeks to apply to his personal and sporting pursuits.
This article was first published in the Sunday Telegraph.
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NRL's Sam Perrett launches property development business

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More than 100 apartments were snapped up within three and a half hours at the recent launch of Parramatta’s Promenade No. 2 development.
A total of 198 apartments made up the first release of the $314 million project located on the Parramatta River.
While the display suite doors didn’t open until 8.30am, eager buyers lined up from 6.30am, ready to snap up a one, two or three-bedroom apartment with prices starting from $518,000.
The apartments released were less than 200 of the 505 units that will make up Promenade No. 2.
CBRE managing director David Milton said the project had seen interest from both owner-occupiers and investors with the former making up 60 per cent of the day’s sales.
“There was a lot of local interest and a lot of interest from the greater Sydney area,” Mr Milton said.
Promenade is being developed by Starryland Australia, a local division of China-based company Fuxing Huiyu Real Estate.
Starryland’s executive director Hao Liu said the company took an interest in Parramatta because of its commercial nature landscape with an aim to transform it into a residential city.
Communal spaces will include 1.2 hectares of landscaped gardens, an artificial beach and water fountain on the banks of the river, a raised landscaped leisure zone with river views, trees with large potted plants and expansive timber decks.
There will also be a multipurpose communal pavilion, barbecue facilities and a retail plaza.
<a href="https://www.realestate.com.au/project-promenade-nsw-parramatta-600005175" target="_blank">Promenade No. 2</a> has an expected completion date of early 2018.
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Starryland's Promenade No. 2 sells over 100 apartments on launch morning‏

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The keys and crown of Jonathan and Amanda Erwin are set to be handed over following the sale of their sandstone castle at Avalon for $2,542,500.
Set up 100 steps at <a href="https://www.realestate.com.au/property-house-nsw-avalon+beach-115993231" target="_blank">40 Chisholm Avenue</a>, it finally achieved its $2.5 million plus expectations, but took more than a year to do so through LJ Hooker Palm Beach selling agent David Edwards.
Set on the northern side of an unspoilt rocky summit above Clareville Beach, it was the opera devotee architect Edwin Kingsberry's idea to build the house, however he lacked the funds and the land sold to Leslie Erwin, a salesman for Colgate/Parmolive.
Erwin constructed it as a present for his wife. However, his wife - and the mother of the current vendors - ran off with the architect.
Inspired by the music of Wagner, the palatial medieval property got its official name — Götterdämmerung — from the composer’s famous Ring Cycle opera, but locals just call it The Castle.
Music still resounds from the home, with Jonathan, an antique furniture restorer, a member of the northern beaches band, Bilgola Bop Band.
At 3238 sq metres, this block of land is one of the largest on the peninsula, with the privacy of the site never to be threatened.
This article first appeared in the Sunday Telegraph.
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The Castle sells at Avalon

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A Melbourne developer has paid $5.95 million for an Elwood Beach residential site with immediate plans to develop it into a luxury 23 apartment complex.
The site, <a href="/expert-insights/investing/elwood-beach-apartment-block-listed-with-6-million-hopes">47 Ormond Esplanade</a>, has an existing approved permit and plans that include including two penthouses and private rooftop terraces. 
Savills agent Julian Heatherich said he fielded over 200 enquiries during the four week expressions of interest campaign, with the purchaser buying on an unconditional basis with a short-term settlement.
Colleague Clinton Baxter said a penthouse apartment at Elwood House sold for $2.95 million off-the-plan recently, equating to a square metre rate of more than $17,000, way over the local area average of circa $12,500 a square metre rate.
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$5.95 million paid for Elwood Beach residential rebuild

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GUEST OBSERVER
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Incoming Prime Minister Malcolm Turnbull should refocus the Federal Government onto the importance of Australia’s cities. 
With over 80% of Australian’s living in cities the Federal Government has a key role to play in how our cities develop. 
Malcolm Turnbull, as the new Prime Minister, has an opportunity to refocus how Federal Government expenditure on infrastructure projects can stimulate the growth of Australia’s cities. 
The Urban Taskforce believes that State Governments must have the major responsibility for managing cities but the Federal Government which collects most of the taxes needs to allocate funds to urban infrastructure projects. This must include public transport projects as well as major road projects.
Sydney is leading the way in urban density driven by preferences for apartment living in cosmopolitan environments and this higher density is ideal for new public transport projects. 
Across Australia all urban areas will be moving towards denser environments related to apartment living. The Federal Government can give incentives to State and Local Governments that support greater densities by funding key infrastructure projects. 
The current review of Federation and the relative roles of State and Federal Governments must have cities and their growth as a key issue.
Malcolm Turnbull has a good understanding of the importance of encouraging density in our cities, supported by infrastructure as outlined in a presentation in 2013. 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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