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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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

Renovation

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It seems Australians place a lot of value on the humble handyman, with the market for small home repairs and maintenance set to grow to $881.9 million in 2018-19.
And it’s the <a href="https://www.smartcompany.com.au/growth/franchising/32446-the-seven-essential-elements-of-respect-in-a-successful-franchise-relationship">franchise companies</a> operating in the sector that are reaping the benefits.
According to a report published by IBISWorld this month, the local tradesman and handyman franchise industry currently generates revenues of $881.9 million, with profits totalling $418.9 million.
The industry has been growing at a rate of 3.2% since 2009, with annual growth set to chug along at a rate of 2.2% per year.
The sector employs close to 8000 Australians, with well-known brands such as Jim’s Group, VIP Home Services and Hire a Hubby the leaders when it comes to market share.
According to IBISWorld, the sector has blossomed due to the increasing number of Australians who lack the time and expertise to perform tasks around the home.
The sector has also benefitted from the steady rise in the number of households across Australia during the past five years and growth in capital expenditure on private properties.
Grey Army, a handyman business that predominately employs people over the age of 40, is one company to have benefited from the recent growth in the sector.
General manager Greg Miles told SmartCompany the business started 21 years ago, using sub-contractors to deliver “trustworthy and reliable” home maintenance to older Australians who are looking for old-fashioned service.
The business began franchising around 10 years ago and now has 75 individual franchises operating across Melbourne, with other master franchise agreements in place in the other states.
And while the business has “ebbed and flowed” over its lifetime, Miles says the company has experienced consistent growth over recent years.
Miles says many of the people who approach Grey Army to open a franchise are from all walks of life, and don’t necessarily come from a trade background, with the economic downturn of a few years ago influencing many older workers who had lost their jobs to look to operating a handyman franchise as a way of securing their future.
Miles says the market handyman franchise market is getting more competitive, although there are many “fringe dwellers” on the edges of the industry who are trying to operate their own business.
For the Grey Army, Australia’s ageing population is a major influence, with the company’s franchisees and its clients generally falling into the Baby Boomer generation.
“But it’s the same with any industry that is growing, there will always be more people looking to enter the industry,” says Miles.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Local handyman industry set to grow to close to $1 billion in five years

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At <a href="https://www.realestate.com.au/property-house-nsw-casino-117050695" target="_blank">2 Swanson Lane, Casino</a> is this “concrete castle” that is actually a former water treatment/filtration plant built in the early 1940s.
<img src="/images/2014/05/29/casino%20may%2029%20one.jpg" alt="">
The vendors have managed to get a DA from the council to convert it into a three-bedroom residence, and the listing also suggests you could use it for a clubhouse, museum, art gallery or observatory.
The rear looks a little bit like a security-holding and the concrete can seem a little bare. Property Observer’s production editor Jake Robinson suggested that the blank concrete cylindrical water holding area could be perfect canvas for some graffiti-art. We think that, for the more traditional renovator, a creeping plant may suit to deal with the expanse of blankness.
<img src="/images/2014/05/29/casino%20may%2029%20two.jpg" alt="">
Internally, the vendor has fit out one end with a mezzanine bedroom/lounge, bathroom and toilet and a modest kitchenette. It’s basic, but the property certainly has potential.
<img src="/images/2014/05/29/casino%20may%2029%20three.jpg" alt="">
It’s on 2,500 square metres and the building is 250 millimetre thick double-reinforced concrete. The property is security fenced, with eight foot powdercoat.
With the right lighting and renovation, this could be a beautiful and unique home.
Asking price? $269,000
<a href="https://www.realestate.com.au/property-house-nsw-casino-117050695"></a>Article continue on next page. Please click below.<a href="https://www.realestate.com.au/property-house-nsw-casino-117050695"> </a>
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At <a href="https://www.realestate.com.au/property-house-nsw-molong-116255819" target="_blank">57 Gidley Street, Molong</a>, is this old Masonic lodge building that suits someone with vision.
<img src="/images/2014/05/29/molong%20may%2029%20one.jpg" alt="">
 
It’s been dubbed “The Temple of Temptation” by the real estate agent, and we’re certainly tempted to get our hands on it – particularly as there are some clear spots for beautiful fireplaces.
Its classical exterior and extremely high ceilings look as though they’d suit a well-thought out studio or one-bedroom stylish cottage.
It has four areas – an entrance, toilet, kitchen room and significant main room of approximately 10 by eight metres – with floorboards, stage and fireplace.
<img src="/images/2014/05/29/molong%20may%2029%20two.jpg" width="800" height="600">
The 674 square metre property has recently been reduced to $145,000.
We’re not entirely sure, but we think it could have been built circa 1930s, and may just be the property mentioned in this Sydney Morning Herald article from the time (Monday 23 November 1931).
It appears to have once been owned by the Molong RSL club.
Article continue on next page. Please click below.
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Another Masonic Lodge, of which the inside hasn’t been included in the photographs, is <a href="https://www.realestate.com.au/property-other-nsw-gilgandra-117048652%20" target="_blank">11 Wrigley Street, Gilgandra</a>.
<img src="/images/2014/05/29/gilganda%20may%2029%20one.jpg" alt="">
The façade is enough for us to be interested to add it to the list, as is the asking price: Just $60,000 for the described three-bedroom, one-bathroom opportunity.
It notes that “It has a local heritage listing-you'll have to see exactly what this means but probably means the original fascade can't be changed.” Which, for those looking for something with a beautiful historic feel, is the part that makes this property stand out anyway. The façade is a beautiful brick style, which appears very well maintained.
Unfortunately, it looks like the Council must be consulted with first for future use as it was used previously as a “meeting place”. While sounding ominous, it’s anyone’s guess as to how council will react to a residential request.
We assume it’s in need of some dire renovation. It notes that the largest room is a sizeable 13 by eight metres – similar to our Molong subject – with the smaller bedroom at five metres by eight metres. It includes a toilet, urinal and small store room.
<img src="/images/2014/05/29/gilganda%20may%2029%20two.jpg" alt="">
The façade includes the term “JUNCTA JUVANT”, which is also inscribed on the Masonic Coat of Arms for New South Wales. It is often translated as something akin to “Unity is Strength”, according to the Masonic Library.
The only issue for those wanting to turn it into their next home may be the style of windows – which are all at the top of the high ceilings when looking further back at the building. As this may not be able to be altered, lighting discussions are going to be a must.
It is in a flood zone.
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<a href="https://www.realestate.com.au/property-house-nsw-barellan-113695619" target="_blank">70 Yapumyah Street, Barellan</a>, is a $295,000 (negotiable) offering that was one Barellan’s Rural Bank, it has already had the “foundations laid” to turn the property into a four-bedroom home.
<img src="/images/2014/05/29/barellan%20may%2029%20one.jpg" alt="">
The façade reminds us somewhat of our number three option – the Gilgandra Masonic Lodge – but it also has solid timber inclusions in the pressed tin ceilings and more functional windows. It had construction commencing in 1930 – and completed six years later.
<img src="/images/2014/05/29/barellan%20may%2029%20two.jpg" alt="">
Fully functional safe and iron security doors to the main street are included, which Property Observer thinks is absolutely terrific.
<img src="/images/2014/05/29/barellan%20may%2029%20three.jpg" alt="">
Some aspects have been modernised, but there’s plenty left for renovators. For instance, the main bedroom, which has a balcony, has a fairly contemporary walk-in wardrobe. There’s also an added in-ground swimming pool, extensive shedding and a stainless steel gas stove. The living area includes a bar.
It does, however, obviously need some substantial work.
<a href="https://www.realestate.com.au/property-house-nsw-barellan-113695619"><img src="/images/2014/05/29/barellan%20may%2029%20four.jpg" alt=""></a>
 
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This <a href="https://www.realestate.com.au/property-house-nsw-jerilderie-114431103" target="_blank">Jerilderie church</a>, the address of which is not listed, will set you back $85,000 and it’s on a 4,047 square metre corner block and built of Murray pine.
<img src="/images/2014/05/29/jerilderie%20may%2029%20one.jpg" alt="">
The 1860s-built church was moved to the site in 1920 and is in “reasonable condition” – but inexperienced home improvers may not want to tackle this, as it requires new roofing and a significant amount of fixing.
<img src="/images/2014/05/29/jerilderie%20may%2029%20two.jpg" alt="">
The listing suggests that exposing the timber would be a beautiful option, and also explains that the front half of the old hall has been damaged, but that the rear and chimney are in strong condition. The windows are that typically-beautiful shape that old churches offer for renovation, and with a bit of TLC it’s likely that this would be an impressive home.
The land also includes two fenced paddocks, and it is power connected.
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And lastly, if you don’t want to renovate and are happy to push the $300,000 mark a bit extra then we’ve included this beauty.
<img src="/images/2014/05/29/NSW_0000_grafton%20may%2029%20one.jpg.jpg" alt="">
For $330,000, <a href="https://www.realestate.com.au/property-house-nsw-grafton-116473607" target="_blank">69 Oliver Street, Grafton</a>, could be yours. This beautiful property includes three bedrooms, two bathrooms and two garage spaces, and beautiful polished hardwood floorboards. The marketing also includes a video.
A solar system has been installed, and in the garage there is also a storage mezzanine. It’s truly stunning – and could be good inspiration for any renovator.
It includes a terrific “before” photograph, and our hats go off to the owner renovators who appear to have done a splendid job.
<img src="/images/2014/05/29/grafton%20may%2029%20two.jpg" alt="">
It sits on 976 square metres, and we love the backyard deck and neutral colour tone throughout. Modern, but classic – truly gorgeous.
<img src="/images/2014/05/29/grafton%20may%2029%20three.jpg" alt="">
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jduke-EHk3XBmHkn

Five unusual New South Wales renovation opportunities – all under $300,000

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It sounds a little bit grotty, but the term ‘sweat equity’ has made its way into common investor usage. This little piece of terminology is relatively simple, but also worth deeper consideration.
On the surface, it’s essentially the alternative to financial equity. Instead of pouring money into a project, let’s take a renovation for simplicity, you instead pour your actual personal effort and energy into the project. For instance, instead of hiring a plumber, you get in there and put your skills to the test.
Upsides
Likely, you’ve added some ‘sweat equity’ to a project without realising it has a name before. Perhaps you’ve painted a property, or tidied it, prior to selling. Likely you’ve added a bit of value, no matter how small, without spending a cent. In this result is the benefit of sweat equity – you haven’t touched your bank account, and yet you’re making money in the form of equity on your property.
If you have a skill, such as a trade, then using this appropriately is well worth while. If you’re a licensed plumber or asbestos removalist, or your friends are, then getting everyone around to work on a project can be immensely useful.
While it’s easier to understand this concept when considering a renovation, “sweat” equity doesn’t have to include activities that make you sweat. If you are willing to undertake your own research, or similar, then you can make some sweat equity upfront by using your computer and sourcing a property and negotiating. Wherever you can ‘DIY’ to add value for your property, such as getting a DA, you’re using sweat equity.
Downsides
<ul>
<li>Not understanding your personal limitations</li>
</ul>
If you’re not an expert and get caught up in the idea of ‘sweat equity’ then you may be risking an amateur job. Remember, there are people in the industry that have been managing properties, recarpeting homes and styling properties for years. There’s a demand for certain services for a reason. Don’t attempt to be handy with your investments if you’re not – you could end up making a mess and needing to pay a bigger bill to rectify the issue.
<ul>
<li>Time has an inherent dollar value</li>
</ul>
While sweat equity can seem like getting money for free, remember that your time is inherently valuable. If you are taking time off of work, particularly unpaid, to work on your property in any way then you need to make sure you can’t be making more elsewhere. Taking a week off to add $10,000 in sweat equity is obviously worthwhile for most on average salaries, however the majority of the time it’s likely you’ll be attending to small jobs that could cost you a small amount and not interrupt your sleeping schedule.
Similarly, if investing becomes your “full time” job, you want to factor in the concept of a full time salary. If your own cost per hour works out to more than it costs to hire in the experts, you may want to reconsider. If you’re spending your leisure time doing manual labour jobs, you also want to make sure you don’t get burnt out in the process.
<ul>
<li>You can’t tax-deduct your own work</li>
</ul>
Unfortunately, where you can keep receipts and the formal information from contractors that work on your property, the lay person doing a bit of handy work on their own investment cannot claim for their own time. You can, however, claim for travel expenses to your investment property for repairs and similar work, and for any materials purchased. For instance, if you decide to do the cleaning yourself after a renter leaves, you cannot claim for your hours of work – but you can claim for the bleach, cleaning products and equipment used.
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What is ‘sweat equity’? How you can make the most of it

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Home buyers, investors and renovators – it’s not always easy to find the right expert for any property project. When it comes to selecting a builder, you really need to be able to trust them.
Allworth Homes’ managing director Stephen Thompson said that as a builder spends several months working on your home, you need to have confidence in them.
“One thing is for sure, the building process starts long before any concrete is poured.  That’s why it’s important to do your homework. These same rules apply when shopping around for your renovation contractors,” said Thompson.
Here are five quick tips that can help guide you through the selection of builder:
<ol>
<li>
Thoroughly look at the building and construction quality.  You don’t just want your house built, you want it well built. Look for quality finishes, specification and attention to detail when you visit the display homes. Look at the reputation of the builder’s suppliers - are they brands with well-earned reputations for quality? Also ask for customer testimonials and references. 
</li>
<li>
Price is a factor but not because it’s the lowest or highest. Look for a detailed explanation of price and inclusions in the cost when comparing builders. 
</li>
<li>
Consider the resale of your home. Will the design earn you money when you decide to sell it in the future? Carefully consider your completed costs. On the resale market, similar plans fetch similar prices, no matter how much you’ve spent compared to another. So think about this carefully. 
</li>
<li>
Don’t be fooled by the over the top extravagant display homes. Lots of display homes are dressed and designed with all the style trimmings in mind. Look beyond that and analyse what’s practical for your budget. Consider the floor plan and flow of the house to see if it’s the right fit for you and your family. If you are looking around display homes, then <a href="/expert-insights/building/how-to-navigate-a-house-and-land-display-home-launch">here's a guide to keeping your head above water</a>. 
</li>
<li>
Check which areas the builder will build. This is the question you should ask first. There would be nothing worse than falling in love with that perfect design, only to find out that the builder won’t build in your area.</li>
</ol>
Source: Allworth Homes
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Five tips for choosing the best builder

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A man who took out home renovation work without a licence, as well as breached home building legislation, has been ordered to pay $40,000 in fines and costs, after facing the Parramatta Local Court this month.
Buddy Charbel Challita, a 42 year old from Greenacre, was convicted ex-parte on 2 May, fined $6,000 for unlicensed contracting of specialist work, $18,000 for thrice demanding/receiving payment before the work had commenced and $18,000 for thrice contracting residential work without an insurance certificate.
Challita also had to pay professional and court costs, totalling $2,095, costing him $44,095 in overall.
He had applied to Fair Trading for a contractor licence in 2009. This was refused as he had a bankrupt status.
Despite this, in April 2013 he contracted with an East Hills home owner to create two new bathrooms, a laundry and a kitchen. The amount of the work would be $33,420. Under New South Wales requirements, this would need a licence. No home warranty insurance was in place.
He also received a $4,000 deposit from that property owner – this is above the 5% maximum allowed under the Home Building Act. After paying these sums, three months passed with little work undertaken. The property owner was then required to pay for other contractors to complete the work.
Acting Fair Trading Commissioner, Rob Vellar, said that the whole idea of the Home Building Act is to protect consumers from these situations.
“Unlicensed building and commencing work without Home Warranty Insurance in place can not only have a potentially adverse impact upon the future re-sale value of a property,” said Vellar.
“It can also been downright dangerous. Always check your builder is appropriately licensed before entering into any contract for home renovations.”
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Unlicensed home renovator and builder ordered to pay more than $40,000

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Ellertson Capital, along with KTM Capital and Australian Ethical Investment, have acquired a $6 million minority stake in the burgeoning home improvements classifieds website hipages.com.au. 
The Sydney-based business operates a website where about 500,000 customers request 30,000 jobs per month from 40,000 tradies.
<a href="https://www.hipagesgroup.com.au" target="_blank">HiPages</a> says more than one million visitors come to the site every month, with some 1.5 million across their three sites.
<a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/financing-a-business/venture-capital/tradie-platform-hipages-tools-up-with-6-million-investment-from-big-names/2014050712235" target="_blank">The startup site </a>was founded by David Vitek and Robert Sharon-Zipser 10 years ago.
They now employs about 90 staff.
The business generated $15 million revenue in the most recent financial year. It was recently recognised in the Deloitte Technology Fast 500 Asia Pacific list.
Customer job quotes are sent to businesses which pay about $298 a year for the privilege.
Its partnerships include IKEA where customers can now use hipages.com.au’s Get Quotes service from some IKEA stores to access professional kitchen installers.
The Sydney-based investment and funds management group Ellerston Capital is headed by Ashok Jacob, with about $3 billion under management.
James Packer’s private company, Consolidated Press Holdings, reduced its 100% shareholding in Ellerston in 2011 with CPH retaining a passive 25% stake.
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jchancellor-FAypfDUnLy

Ellerston Capital takes stake in home improvement classifieds website

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Western Australian couple Russell and Carole - contestants on House Rules 2014 - purchased their home off Gumtree.
It was advertised under the heading "renovate or detonate".
"Russell was being ridiculous looking at places that were too expensive so I plugged into Gumtree, ‘Houses for Sale’ and put in an amount that we could afford," said Carole.
Despite the extensive work needed, Carole could see potential, falling in love with the valley views, then buying without any building inspection report. 
They now have a $290,000 mortgage, <a href="https://au.tv.yahoo.com/house-rules/clips/23221878/worst-rooms-carole-and-russell-wa-/" target="_blank">with the renovation by rival contestants airing this week on Channel 7</a>.
Their home on stilts was sitting unstable on an overgrown block in the Perth Hills.
"I wasn’t happy because there was so much work to do," the administration manager, Russell recollects.
After he met Carole, who works for the local council, at a party in 2001, they renovated and sold their first Perth house at a profit.
But the pair lost money when prices dropped after the global financial crisis in 2008.
 Reminscent of the 2013 couple Steve and Michelle at Collaroy Plateau in some ways as the Sydney couple had previously hit tough times too after putting money into a property development venture that went bankrupt. Even after Steve and Michelle sold their prior house they still had debt to pay off.
There are currently anywhere <a href="https://www.gumtree.com.au/s-property-for-sale/c18367?sort=price_desc" target="_blank">between 2,000 and 4000 properties</a> for sale on Gumtree from over $1 million to desired swap arrangements.
Many of them are offering the house for relocation with the land being kept by the owner.
{module Would you buy a home off Gumtree without a building inspection report?}
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House Rules: Would you buy a home off Gumtree without a building inspection report?

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GUEST OBSERVATION
When Woolworths delivered its half-year <a href="https://www.woolworthslimited.com.au/icms_docs/137436_First_Half_Profit_Report_and_Dividends_announcement_for_the_27_weeks_ended_5_January_2014.pdf" target="_blank">results</a> in February, the numbers for its Masters hardware chain were sobering. On sales of A$393 million, Masters, a joint venture between Woolworths and US company Lowe’s, lost $71.9 million in six months. Put another way, for every dollar of sales in Masters in the second half of 2013, it lost around 23 cents.
Quarterly sales <a href="https://www.woolworthslimited.com.au/icms_docs/137803_Third_Quarter_Sales_Results_-_Financial_Year_2014_13_weeks_to_6_April_2014.pdf" target="_blank">results</a> released by Woolworths today indicate things could be going from bad to worse at Masters. Woolworths management have touted that quarterly sales increased from $128 million to $179 million year-on-year. Masters added 16 new stores (from 29 to 45) in the last 12 months. It’s the growth in the number of stores, rather than growth in sales per store, that has ensured Masters is “Australia’s fastest growing hardware store”.
The bad news is that quarterly sales per store decreased from $4.41 million in Q3 2013 to $3.98 million in Q3 2014 (a decline of 9.4%). In Perth on Tuesday, Wesfarmers announced store on store sales growth of 9.1% for Bunnings, Masters' key competitor. Customers are still buying, just not from Masters.
Today’s analyst webcast had more questions on Masters (which commands less than 1% of Woolworths' sales) than any other Woolworths business, indicating serious disquiet among investors about how things have gone so wrong so fast.
Masters' new management team (Matt Tyson joined Masters in January from Europe’s Kingfisher) face some serious challenges, some unavoidable and some self-imposed.
As a late mover into the “big box” hardware sector, Masters has often had to lease or develop sites that have been passed over by its larger competitor, Bunnings (which is owned by Woolworths’ arch-rival, and Coles owner Wesfarmers). At times, its rush to grow led to real problems. For example, its application to develop a store in Ballina (near Byron Bay) on a flood plain was rejected by the local council in March 2013. This led Masters to apply only months later to develop a store in Lismore, some 30 kilometres to the west. This new site is next to an existing Bunnings store and was clearly not Masters' first preference.
The rush to secure and develop sites has created investment decisions that seem, at times, capricious. As fast growth seems to have been the imperative, Masters' “big bang” approach created massive up front development costs that are a major drag on corporate earnings.
Aldi’s systems and strategies
Not all new entries into the Australian retail industry have been as inauspicious. Notable among the successes has been the German retailer Aldi that has patiently built a portfolio of 340 stores over 14 years – a new store on average every three weeks.
As a privately-owned firm, Aldi does not publish sales and profit figures, although informed estimates suggest it garners around 10% of Australian grocery sales from its Australian stores. <a href="https://corporate.aldi.com.au/en/about-aldi/" target="_blank">Aldi has signalled</a> its intention to open new stores in South Australia and Western Australia over the next few years, continuing its patient, staged approach to its Australian rollout.
Strategic management researchers often suggest firms should “stick to their knitting” – doing what they know well and knowing what they do well. Aldi knows what it’s good at – selling discount groceries. Founded in war-ravaged Germany in 1948 by the Albrecht brothers (the name is a derivation of Albrecht Discounts), Aldi keeps a limited product range of less that 1500 SKUs – or products – per store, while Woolworths and Coles often have more than 10,000. This limited range has many benefits - it enhances Aldi’s buying power, facilitates smaller stores, increases product turnover and simplifies inventory management.
In store, Aldi uses simple and effective palletised logistics for its fast turnover products and keeps its staffing levels low. Around 95% of its products are own-brand, and the quality of these products is often excellent. These are sourced both locally (for most fresh foods) and from its global supply chain (for many longer shelf life products).
Real estate wars
Aldi’s patience has allowed it to build retail scale slowly, centred on its five major Australian distribution centres (two in Victoria, two in NSW and one in Queensland).
Getting access to new retail sites has been a real problem for Aldi, as Coles and Woolworths <a href="https://www.theage.com.au/national/aldi-brands-coles-safeway-retail-bullies-20080628-2yjt" target="_blank">reportedly</a> locked them out of many suburban centres through restrictive agreements with landlords. In response, Aldi was patient, pursuing shopping centre vacancies when they arose, but also building a large number of standalone sites when the opportunities emerged.
These tactics are a sign that Woolworths and Coles are too big and too dominant in the Australian grocery industry. With a combined share, by some estimates, of 80% of Australian grocery sales, new growth has to come from areas where Woolworths has limited know-how and little brand equity.
Slow and steady wins the race
With the benefit of hindsight, it could be argued that Woolworths’ Masters rushed foray has been driven more by machismo than fundamental strategic management thinking.
Wesfarmers’ success with Bunnings was a sore point for Woolworths’ corporate management - whose grocery business had seen off the challenge of Coles prior to Wesfarmers acquisition of Coles in 2007. The launch of Masters has certainly created an internecine war in the hardware industry, but so far Woolworths has been the main victim.
In comparison, Aldi has a fundamentally valuable point of differentiation in its market – namely low prices. Aldi delivers this differentiation through strong internal consistency in terms of efficient systems and processes, a culture of corporate modesty and the patience to successfully execute its growth strategy over a long period of time. In essence, its management is driven by sound reasoning, disciplined consistency and patient execution.
Masters is on track to lose half a billion dollars before Woolworths hopes it to become profitable in 2016. That is serious money, and the Masters investments continue to limit Woolworths’ abilities to invest in and renew its existing portfolio. The worst-case, but highly possible, scenario is that the turnaround does not happen and the losses continue to escalate.
John Rice is associate professor in strategic management at Griffith University<a href="https://theconversation.com/institutions/griffith-university"></a>.
John Rice is a current member of the Australian Labor Party and the National Tertiary Education Union.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
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jake-cSmGT7VXVf

Masters could learn a lot from Aldi

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Hi Margaret,
Just a query on capital gains tax (CGT).
Our principle place of residence is currently on the market to sell, and once it does we would like to buy another property.
However the kind of property we would like to buy next as a primary residence is at this point out of our price range.
What we would like to do is climb the property ladder by doing a quick reno then selling.
Is there a required time frame for us to live in this property to be exempt from CGT?
Regards, 
Grace
Margaret's answer on the next page. Please click below.
 
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Hi Grace,
As long as you live in a property and do not claim another property as your principal place of residence (PPOR) during that time, then there is no set period of time in which you must live in a property in  order to avoid capital gains tax (CGT). 
The CGT exemption applies to any residential property in which we live and claim the principal place of residence upon. The requirements to claim this exemption are that you live in the property and it is your primary place of residence, and that you have no other primary place of residence.
If you kept buying properties, lived in them and did a renovation, and then sold them quickly, doing it again and again in short periods of time, you may place yourself in the situation where the tax office would consider that you are in fact in the business of property renovation and may disallow the exemption. Under such circumstances it is more likely that they would also see the gains you made as income and tax you accordingly, rather than apply capital gains tax.
If you are genuinely moving in in order to climb the property ladder for your personal circumstances only, rather than looking to make more and more profit from renovations and using the PPOR exemption rule simply to avoid tax, then it won't matter how long you live there, the exemption should apply.
Kind regards, 
Margaret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Moving up the property ladder via renovating and selling: But do I need to pay capital gains tax?

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Renovation reality television has returned with Channel 7’s second season of House Rules. 
Each of the six teams will compete to renovate another team’s home, with the team producing the best results winning the full some of their mortgage. 
The home with the biggest mortgage will have the most to gain out of the renovation exercise. 
So far, Channel 7 is keeping the purchase price and mortgage of each home under lock and key. Assuming each team took on the same proportion of debt, which do you think has the biggest mortgage?
Candy and Ryan’s house (NSW)
<img src="/images/2014/04/24/candy%20and%20ryan.jpg" width="460" height="258">
Candy and Ryan’s red brick veneer three bedroom home was purchased in July 2013. Formerly owned by the Catholic church, their property in Sydney’s western suburbs includes a detached granny flat, a shed and a sizeable backyard.
Lisa and Adam (Vic)
<img src="/images/2014/04/24/lisa%20and%20adam.jpg" width="460" height="258">
Lisa and Adam own a 1960s three bedroom weatherboard house in Victoria. They purchased the property in April 2012.
Lloyd and Madison’s house (QLD)
<img src="/images/2014/04/24/lloyd%20and%20madison.jpg" width="460" height="258">
The timber Queenslander owned by young couple Lloyd and Madison is set three streets back from the beach and borders on a nature reserve. It has four bedrooms, but also significant structural problems, including a pretty severe tilt. 
Carole and Russell’s house (WA)
<img src="/images/2014/04/24/carolle%20and%20russell.jpg" width="460" height="258">
Carole and Russell’s house in the Perth hills was advertised on gumtree with the tagline “renovate or detonate”. The two storey home is 28 years old. Russell noted that when the house was first purchased, he kicked the balcony and the whole thing collapsed onto his car below.
Brooke and Grant’s house (TAS)
<img src="/images/2014/04/24/brooke%20and%20grant.jpg" width="460" height="258">
Brooke and Grant are raising seven children in their two and a half bedroom 19th century farmhouse in the Huon Valley. The home has one bathroom, with another outhouse in the back and an outdoor laundry. The house is set on three acres.
Bomber and Mel (SA)
<img src="/images/2014/04/24/bomber%20and%20mel.jpg" width="460" height="258">
Bomber and Mel live in a 110 year old weatherboard home in Adelaide, set a kilometre off the beach. Holes in the floor let in the weather, as well as the local cats. The home was purchased in a mortgagee sale.
Property Observer will follow the full details as they emerge on the series so that we know just how much the prize could be. 
{module Which home do you think has the greatest mortgage based on initial impression and locality?}
 
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