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

Suburb Spotlight

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GUEST OBSERVATION
Located just 11 kilometres south-east from Melbourne’s CBD, affluent Caulfield is one of Glen Eira’s most popular suburbs.
Bounded by Orrong Road, Dandenong Road, North Road and Booran Road, Caulfield offers a vast number of amenities to its 32,000 residents.
With a strong reputation for being one of Melbourne’s most desirable middle class suburbs, leafy Caulfield attracts a culturally diverse population.
Being a major transport interchange, Caulfield boasts excellent public transport links - ideal for residents who commute into the city for work. Meanwhile, the area’s numerous prestigious and wel -regarded schools including Caulfield Grammar, Wesley College, Caulfield High and Leibler Yavneh College; makes the area popular among families with children. Due to its proximately to Monash University’s Caulfield campus, the area is also popular with students.
For shopping, residents tend to flock to nearby Glenhuntly Road in Elsternwick, which offers a number of international delis and Jewish bakeries as well as the popular Eco’d outlet - a haven for fashion enthusiasts looking for trendy international labels.
With the introduction of a number of new gourmet eateries in recent years, the area has been placed on Melbourne’s gastronomy circuit. For the perfect cold-drip brewed latte and Reuben sandwich, locals head to Einstein’s 251 on Hawthorn Road while Tuck Shop Takeaway, a modern take on an old-fashioned burger joint, has proved to be hugely popular with locals and visitors alike. In nearby Ripponlea resides Attica, Australia’s most awarded restaurant. 
Caulfield Park is the perfect setting for families and fitness lovers. Residents can often be found jogging around its border, enjoying a personal training session, or using one of the three children’s play areas. The park also is home to a number of sporting clubs and playing fields.
A host of options are available with regards to property types in Caulfield. The suburb is divided into three different areas, Caulfield North, Caulfield and Caulfield South. Caulfield North, being one of the most affluent locales, is known for its grand Victorian mansions, tree-lined streets and tranquil family feel. In more recent times, a number of apartments have been built in the area which tend to be occupied by young professionals.
Caulfield and Caulfield South are popular areas for young families, in particular those who have been priced out of the surrounding suburbs. In terms of accommodation types, these areas contain a number of town houses, Californian bungalows and Edwardian homes. Apartments are also plentiful here.
Given the area is divided into three parts, property prices vary from one locale to another. For example, in Caulfield South the average property price is around $1,125,000 for a house and $600,000 for a unit or apartment. Whereas in Caulfield North, an entry-level family home is upwards of $2,000,000.
As with many other suburbs that offer close proximity to the city, there is a high demand for housing in the area. In light of this, Caulfield offers excellent potential for capital growth, with annual price increases of around 5%. Renters make up around 30% of people residing in the area; tending to choose the suburb for its excellent transport links to the city, large family friendly blocks of land and proximity to Monash University’s Caulfield campus.
With that said, the vast majority of people living in Caulfield North are owner occupiers as property types in this area are predominantly luxury homes. In Caulfield and Caulfield South, rental properties fetch an average of $600 per week for a house and $395 per week for a unit or apartment.
For those looking to buy, Caulfield ticks all the boxes. Good schools, great transport links and large blocks of land make it the ideal place for affordable inner-city living.
Alex Flamm is director of <a href="https://www.hodges.com.au/hodgescaulfield" target="_blank">Hodges Caulfield</a>.
Photo courtesy of Stephen Edmonds/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">C.C. BY 2.0</a>.
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po-LsXgBTHBmX

Caulfield - a diverse, well connected suburb: Hodges' Alex Flamm

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GUEST OBSERVATION
With private school fees increasing year on year, having access to quality state schools is a top priority for many families.
However, enrolments at most strong performing state schools are limited to residents living within the set boundary of school zones. Therefore properties located within these boundaries are highly sought after and demand higher premiums.
St Kilda primary school was one of the last state schools in the Port Phillip Area to be zoned – having boundaries set only in August last year. Prior to the introduction of zoning, this popular school saw kids travel in from areas as far away as Point Cook. Families looking to get their children into a well performing school without having to spend upwards of $15,000 a year on private tuitions favoured St Kilda Primary because of its open enrolments, positive reputation and performance results.
Now that zones have been introduced and enrolment numbers have been capped, families who want their children to attend this school will need to be appropriately located, otherwise access will not be granted. As a result, local property located in the Balaclava and St Kilda East areas within the zone are likely to experience much greater demand.
According to a survey conducted by the Australian Scholarships Group last year, a private school education, including fees, uniforms, levies, etc. in metropolitan Melbourne can cost parents over $500,000 from preschool to year 12. For a family of three children, that’s a big chunk of change at $1.5 million dollars. On the flipside, in the state system parents would be looking at costs closer to $60,000 for a child’s full education – potential savings of over $440,000. 
When compared to private school fees, paying a premium on property presents as a good investment – particularly if there are two or more children of school age in a family. In fact, a study conducted by RMIT in 2012 found that parents were willing to stretch their budgets by $160,000 on average to buy a home in the popular Camberwell High school zone. This makes sense given it could mean potential savings of over $250,00 per child.
Within close proximity to the city, beach and amenities, St Kilda and its surrounding areas are already hugely popular. The recently established school zoning rules have undoubtedly added an extra selling point and the effect on the local property market will only be positive.
Josh Stirling is director of <a href="https://www.hodges.com.au/hodgesstkilda" target="_blank">Hodges Real Estate St Kilda</a>.
 
 
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JoshStirling-dVWworv6XS

St Kilda Primary School zoning could be a boon for the local property market: Hodges' Josh Stirling

<html><body>
Glen Waverley pipped Mount Waverley to top the 10 most searched Australian suburbs for Chinese buyers in 2014.
The latest data came from property portal myfun.com built and designed by REA Group to showcase Australian property to Chinese buyers.
The neighbouring eastern Melbourne suburbs of Glen Waverley and Mount Waverley sit at the top of the list for most clicked neighbourhoods in Australia.
There's often a distinct price footprint left that identifies the buyer ancestry, the use of the lucky number 8 in the price.
Earlier this month a house on <a href="https://www.realestateview.com.au/Real-Estate/5-st-albans-street-mount-waverley/Property-Details-buy-residential-8299104" target="_blank">St Albans Street, Mount Waverley</a> (pictured above) sold by private treaty through Jellis Craig at $1,502,888.
It was sold by vendors of Chinese descent who had bought in 1999 for $286,000, indicating the heightened presence of the Chinese in the suburb actually has long standing origins.
Indeed the house's previous sale in 1988 was similarly to buyers of Chinese descent.
<ol>
<li>
<a href="/news">Glen Waverley</a>, VIC 
</li>
<li>
<a href="/news">Mount Waverley</a>, VIC 
</li>
<li>
<a href="/news">Doncaster</a>, VIC 
</li>
<li>
<a href="/news">Balwyn</a>, VIC 
</li>
<li>
<a href="/news">Southport</a>, QLD 
</li>
<li>
<a href="/news">Box Hill</a>, VIC 
</li>
<li>
<a href="/news">Carindale</a>, QLD 
</li>
<li>
<a href="/news">Toowong</a>, QLD 
</li>
<li>
<a href="/news">South Yarra</a>, VIC 
</li>
<li>
<a href="/news">Chatswood</a>, NSW</li>
</ol>
Source: myfun.com.
The local agents say among the attractions are two of Victoria’s best state schools, Glen Waverley Secondary College and Mount Waverley Secondary College, along with two of Melbourne’s best private schools, Wesley College and Caulfield Grammar helps.
“It’s also halfway between the city and the hills, but retains a cosmopolitan atmosphere with over 100 cafes and restaurants in the area,” one agent told News Ltd.
Just the two recent auction sales at Glen Waverley, according to the REIV.
<table style="width: 460px;"><tbody>
<tr>
<td>5  Sagan  Court</td>
<td>$2,020,000 </td>
<td>Ray White Glen Waverley </td>
</tr>
<tr>
<td>17  Lindwall  Street</td>
<td>$1,200,000 </td>
<td>Stockdale &amp; Leggo Waverley</td>
</tr>
</tbody></table>
Source: REIV.
There were four auction sales at Mount Waverley.
<table style="width: 460px;"><tbody>
<tr>
<td>64  Alice  Street </td>
<td>$1,950,000 </td>
<td>Jellis Craig </td>
</tr>
<tr>
<td>3/ 8  Edna  Street</td>
<td>$758,000 </td>
<td>Jellis Craig </td>
</tr>
<tr>
<td>1/ 3  Morrison  Court<a href="https://www.realestateview.com.au/Real-Estate/1-3-morrison-court-mount-waverley/Property-Details-sold-residential-8266672"> </a>
</td>
<td>$792,000 </td>
<td>hockingstuart </td>
</tr>
<tr>
<td>2  Vila  Court</td>
<td>$1,310,000 </td>
<td>Noel Jones</td>
</tr>
</tbody></table>
Source: REIV.
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jchancellor-FAypfDUnLy

Chinese buyers' property love affair with the Waverley's - Glen and Mount

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The Port Hedland and South Hedland property market's fall from grace has been well documented.
In mid-2014, columnist Terry Ryder <a href="/expert-insights/port-hedland-and-karratha-the-best-places-to-buy-dont-get-roped-into-that-one">cautioned investors against buying</a> in the mining region, writing that although the Port Hedland and South Hedland markets were in "rapid decline", they "but remain outrageously overpriced".
Controversial research body Demographia ranked the Port Hedland market the 11th most affordable in Australia this year, with a median price of $780,000 and median annual income of $168,400 giving the region a "median multiple" of 4.6.
In the 2014's 10th annual Demographia International Housing Affordability Survey, Port Hedland's market was considered the 13th most affordable, with a median multiple of 5.0 (median housing price of $818,000; median income of $163,700). The year prior, it was named "severely unaffordable" by Demographia, its $980,000 median housing price and $153,800 median annual income giving it a median multiple of 6.4.
Port Hedland has seen vast amounts of iron ore moved out from the Pilbara's mines, stimulating its property markets. But as the local mining economy moves from the construction phase to operations, the transient labour population, many of whom were fly-in, fly-out workers, and tenants, has declined.
The region's dramatic property price struggles were brought into sharp focus over the weekend at the auction of a home at <a href="https://www.janfordrealestate.com.au/1928630/" target="_blank">18 Edgar Street in Port Hedland</a>. ABC reported that the <a href="/expert-insights/buying/sydneys-weekend-auction-clearance-rate-soars-to-82-but-port-hedland-highlights-how-the-mighty-can-fall">fibro cottage passed in at auction at $360,000</a>, with the highest offer reflecting 2006 price levels.
<img src="/images/2015/02/12/port%20hedland%20feb%2012%20one.jpg" alt="">
The house had traded just four years ago for $1.3 million. In 2009 it sold for $870,000 and at $350,000 in 2006.
The home's sales agent, Barry Walsh at Jan Ford Real Estate, tells Property Observer that at the peak of the mining boom, property prices in the Port Hedland and South Hedland regions were unsustainable.
"It was totally unsustainable where it was, and now that it's stabilising, it will bottom out, and is in the throes of doing that," says Walsh. He says 18 Edgar Street was advertised to rent at $2,400 per week at the market's peak," said Walsh.
"And now, you wouldn't rent it for $500 per week. That's a reflection of the rental market."
According to Walsh, the market is now in the process of returning to its fundamental value.
"The stabilisation of the market is a very good thing for Port/South Hedland and the Pilbura region," he says.
"It was unfortunate that the market went where it did, to unsustainable and disproportionate price levels."
He attributes some of the price escalation to the inability to release a sufficient amount of land for development to cope with the influx of residents who were attracted to the area's mining economy. The infrastructure required to house the expected 30,000 to 50,000 residents – everything from hospitals and schools to sewers and roads – wasn't available to facilitate the expansion of the region, making tenants compete for the existing properties.
"The rents got to about $2,800 a week – some of the dearest in the world."
He says 18 Edgar Street is currently advertised for $600,000 through private treaty, with a couple of potential buyers engaged. He says the property, as it exists now, would only be worth around $250,000 to investors as a residential building. "Everyone up here would want at least 10% gross return", Walsh explains.
Indeed, taking a look through Port Hedland's available listings, that appears to be the case. "GOVT LEASE 14.7% ROI", one agent writes. "INVESTORS DELIGHT WITH HIGH RETURN 10+%", another listing reads.
<a href="https://www.realestate.com.au/property-house-wa-port+hedland-119065507" target="_blank">58 Kingsmill Street in Port Hedland</a> is currently on the market, with a price guide of $780,000.
<img src="/images/2015/02/12/port%20hedland%20feb%2012%20two.jpg" alt="">
It last traded at $465,000 in 2006. If it secures its current asking price, it will have appreciated by 68% in nine years.
The four bedroom, two bathroom house is currently leased at $1,600 per week, yielding 10.6%.
However, while the lease isn't due for renewal until 21 January 2016, there is no guarantee that it will attract the same rate this time next year. In April 2013, it was advertised to rent at $2,900 per week. Less than six months later, the advertised rent had dropped by $800 per week, to $1,700 per week. It dropped $100 further before being picked up by the current tenants.
18 Edgar Street saw a similar descent. From its advertised $2,400 per week peak in 2011, it dropped to $1,800 in 2013. Within a year, diminishing tenant demand saw $1,000 per week lopped off its advertised rental rate, down to $800 per week.
Walsh cautions investors not to mistake a current rental rate for the property's current market potential rental returns, citing a property which had been leased at $1,800 per week for the last 12 months that is now struggling to secure at $700 per week.
"Over the last 12 months, investors have been very cautious and have been wanting very high returns," he says. Walsh believes investors will return to the market when it displays more stability, due to the fundamental demand drivers underpinning the market. After all, Port Hedland has the highest tonnage port in Australia, which services a number of industries, beyond iron ore.
As for 18 Elgar Street, Walsh believes it will ultimately offer the most value to developers, due to its position in the centre of Port Hedland, within the businessa nd commercial district, opposite developments and near the boat ramp, Marapikarrinya Park and the fishing wharf.
{mijopolls 89}
Photo of Port Hedland courtesy of Robyn Jay/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">C.C. BY 2.0</a>
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jrichardson-uRX5hFdKfN

Port Hedland's price plummet: Can it recover?

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The rental market in Queensland's Mackay continues to decline, with 10.3% of rental stock vacant, according to the Real Estate Institute of Queensland (REIQ).
The town has been fuelled in the past by its mining economy, thanks to its location near the Bowen Basin coal mining reserves. However, as coal mining work declines, in part due to falling commodity prices, so too has Mackay's popularity with workers.
There was a 3.1% vacancy rate two years ago.
The struggling rental market has seen some landlords offer rent-free periods to attract tenants.
One investor is advertising a two week free offer on a <a href="https://www.realestateview.com.au/rental-properties/10-19-23-stevenson-street-mackay/Property-Details-rent-residential-8281018" target="_blank">three bedroom townhouse style South Mackay property</a> that falls under the National Rental Affordability Scheme (NRAS).
It was available last February at $368 per week, and is now available at $300 a week, from 24 February.
The investor paid $370,000 in 2011. The median sale price of a Mackay unit or townhouse in the September 2014 quarter was $301,000, according to the REIQ. The median house price was $391,000.
It is not just NRAS investors who are seeking tenants. Another landlord is also offering a two week free rental period after lowering their asking rent from $300 per week in May 2013 to $250 per week. The <a href="https://www.realestate.com.au/property-unit-qld-mackay-404537165" target="_blank">two bedroom townhouse, pictured below,</a> is available now. 
<img src="/images/2015/02/03/2.jpg" alt="">
5/10 Romeo Street, Mackay
Domain Group senior economist Andrew Wilson says that three to four years ago, Mackay – which <a href="https://propertyobserver.com.au/finding/residential-investment/17995-thursday-observer-matusik" target="_blank">saw vacancy rates as low as 0.9%</a>, by some measures  – was a "classic overheated market".
"It became investor central, with a lot of speculation, and prices moved well beyond their fundamentals, and affordability killed demand" Wilson told Property Observer.
He notes that the mining economy peak saw a lot of housing supply brought to market, with the transient workforce unable to keep up.
"A lot of the mining workers are fly-in, fly-out, and a lot of them are actually drive-in and drive-out as well, so there was no real incentive to be a local resident. And it really was the decline of the mining sector that triggered the drop [in rental demand]."
Wilson says Mackay's market declines aren't over yet.
"There's a real oversupply in Mackay, and no bottom is falling in the market. As long as vacancy rates are that high, you're going to see investors competing for a relatively small pool of tenants.
"That puts more downward pressure on rents, and those with a short term investment view have moved on."
The competition to attract a dwindling supply of tenants has seen the investors who own <a href="https://www.realestate.com.au/property-unit-qld-mackay-412534091" target="_blank">5/9 Stevenson Street</a> in South Mackay advertise the property at $210 per week. In early 2012, they was asking for $490 per week. They paid $206,000 in April 2008.
<img src="/images/2015/02/03/1.jpg" alt="">
5/9 Stevenson Street, Mackay
The current state of Mackay's property market is perhaps not a surprise, given <a href="/news/qld/mackay-market-is-down-and-it-s-still-falling">warnings from experts</a> in the past year about oversupply.
Wilson says it will be a while before the town's market strengthens again.
"It's going to be a long journey back for a stable Mackay housing market," says Wilson.
"It was the curse of the hotspot." 
Property Observer notes the vacancy rate in Mackay was just 0.7% in December 2011.
Picture of Mackay marina courtesy of  Kris C. May/<a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">CC BY-SA 3.0</a>.
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Mackay's property investor woes continue as vacancy rate hits 10% 

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The New South Wales central coast suburb of Budgewoi has consistently been one of Australia's worst performing suburbs for value of mortgage delinquencies, according to Fitch Ratings.
In September last year, Kingston took over Budgewoi's title as the suburb with the highest value of mortgage delinquencies. Fitch Ratings noted at the time that Budgewoi had been one of its worst performing suburbs in the past five years.
The reasons behind the high rates of mortgage delinquency are unclear. Budgewoi, and the accompanying <a href="/news">Blue Haven</a>, <a href="/news">Buff Point</a> and <a href="/news">Halekulani </a>have a reputation as being popular with retirees.
The median age of the region is, at 43.9, higher than the Australian median of 37.3, according to the Australian Bureau of Statistics (ABS). As of 2012, 35.9% of the region's population were aged 55 and over, compared with the 21% in the same age bracket in an inner-city environment like Melbourne's Northcote. The listing of <a href="https://www.realestate.com.au/property-house-nsw-budgewoi-118205535" target="_blank">117b/2 Macleay Drive</a> in Budgewoi, currently on the market, describes "over 55's living", urging buyers to "retire in style".
While the ABS doesn't record the rate of government pensions and allowances, the average wage and salary income per year in 2011, which was <a href="/expert-insights/finance/nelson-bay-and-budgewoi-on-nsw-coast-still-most-delinquent-postcodes-in-australia-fitch">a high period for mortgage delinquencies</a>, was $57,995, while the average monthly mortgage payment was $2,257.
The most common definition of "mortgage stress" is spending more than 30% of your pre-tax income on loan repayments. Taking the ABS figures as a loose guide, the average Budgewoi wage earner, assuming they have a mortgage, spends roughly 47% of their income on their home loan.
Unemployment in the Budgewoi area was recorded at 7.7% in 2011. In 2013 the ABS, Labour Force, had the unemployment rate for the Wyong LGA consistently higher than the unemployment rates for the Gosford LGA and New South Wales. The unemployment rate for the Wyong LGA in September 2013 was 7.6%, considerably higher compared with the Gosford LGA (4.9%) and state (5.6%).
<img src="/images/2015/01/30/wyong-jan-30-one.jpg" alt="">
According to CoreLogic RP Data, <a href="/news">Budgewoi</a>'s median house price in December 2014 was $482,600. The median unit price in December was $405,000 – but given most of the year saw median unit prices between $215,000 and $290,000, this is likely to be a one-off fluctuation. There have been no obvious price dives, nor jumps, in the past three years, with prices modestly trending upwards with some fluctuation.
However, when Property Observer looked through properties currently on the market in the area, more than usual had a feature in common: they had been sold less than two years ago.
There is no suggestion these are forced sales, but typical vendors must face the unhelpful headwinds associated from those that are.
<a href="https://www.realestate.com.au/property-house-nsw-budgewoi-118910579" target="_blank">52 Sunrise Avenue in Budgewoi</a>, pictured below, is on the market with an auction price guide of $430,000 plus. The owners have held it for less than six months, having paid $385,000 in August 2014. They purchased the property from someone who paid the same amount in October 2013.
<img src="/images/2015/01/30/1.jpg" alt=""> 52 Sunrise Avenue, Budgewoi
<a href="https://www.realestate.com.au/property-house-nsw-budgewoi-118759103" target="_blank">1/66 Tenth Avenue</a> is currently listed at $245,000 (pictured below). <img src="/images/2015/01/30/2.jpg" alt="">
1-66 Tenth Avenue, Budgewoi
But the vendors only purchased the home in May 2014, paying $215,000. The property has been a loss-maker for owners in the past, selling for $190,000 in 2004 and then $165,000 in 2009. While the listing calls for investors, there is no known rental history at the property.
The vendors of <a href="https://www.realestate.com.au/property-house-nsw-budgewoi-118158451" target="_blank">31 Diamond Head Drive</a> (pictured below) are trying to sell it for $589,000, after purchasing it in February last year.
 <img src="/images/2015/01/30/3.jpg" alt="">
31 Diamond Head Drive, Budgewoi
They paid $353,000 for the property in February 2014.
Andrew Sorensen is principal of Raine &amp; Horne Charmhaven, which has been operating in the region since 2000. According to Sorensen, who is also marketing 31 Diamond Head Drive and 52 Sunrise Avenue, the area's mortgage delinquency issues peaked a few years ago, but have steadily been improving since then. There are currently no properties listed on realestate.com.au in the 2262 postcode which are advertised as mortgagee sales.
In 2013, there were two marked as mortgagee sales: <a href="https://www.realestate.com.au/property-house-nsw-buff+point-114906655" target="_blank">5 Regent Street, Buff Point (pictured below)</a> and <a href="https://www.realestate.com.au/property-house-nsw-blue+haven-114429847" target="_blank">26 Timbara Crescent, Blue Haven</a>.
<img src="/images/2015/01/30/4.jpg" alt="">
5 Regent Street, Buffs Point.
5 Regent Street sold for $325,000 in October, according to CoreLogic RP Data. The vendors paid $460,000 in 2004.
26 Timbara Crescent sold for higher than its purchase price, with buyers paying $262,000 in 2013, while the vendors paid $135,000 in 2005.
Sorensen noted that the amount of mortgagee in possession sales coming to the market "now is almost zero", compared with two a week coming up in the suburb a few years ago. He attributes the area's improving market to buyers priced out of Sydney's market, who are keen on the lifestyle that the central coast offers.
In the six months between March and September 2014, delinquencies in Budgewoi had improved, from 3.7% to 2.7%. Will the improvement continue?
Note: This article has been amended. It initially incorrectly stated that 31 Diamond Head Drive had also traded in November 2014.
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Are Budgewoi's mortgage delinquencies still high?

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Karratha, in Western Australia's Pilbara region, was pinpointed as Australia's most affordable town, according to the 11th Demographia survey.
The controversial research body noted Karratha's median property price was a supposed $440,000, on low sale volumes, which was 2.6 times higher than its median annual household income of $171,600.
In 2013, it was rated as "severely unaffordable" in Demographia with a median price of $775,000, 4.9 times the then median salary of $156,700.
The household income figure is elevated by the town's mining economy, with iron ore mining a major source of employment in the region.
However, as reported in the <a href="https://www.afr.com/p/national/pilbara_mining_towns_need_jobs_and_SdKCscxN2BhhVzRdVspHAK%20" target="_blank">Australian Financial Review</a>, employment opportunities in the area are declining as the mining industry moves from the construction phase to the operational phase.
According to a Deloitte report for the Chamber of Minerals and Energy of Western Australia, the Pilbara's labour force is expected to decline by 14,300 workers by 2020, as 17,900 construction jobs are shed and 3,600 operational workers are introduced.
The shift has repercussions in the area's property market, despite investment by local and state governments that has delivered infrastructure and improved amenity in the Pilbara, including Karratha.
Demographia's latest <a href="/expert-insights/investing/the-full-affordability-list-from-adelaide-to-wollongong-demographia-2015">International Housing Affordability Survey</a> ranked Karratha the most affordable in a list of 51 towns, using statistics from the Real Estate Institute of Western Australia among other sources, based on median property price as a multiple of median household income.
Property Observer  has previously noted price declines over the past two year, with more obvious price declines evident in 2014.
Karratha's property declines are demonstrated by <a href="https://www.realestate.com.au/property-house-wa-millars+well-118213123" target="_blank" style="line-height: 1.3em;">this Millars Well property</a>, which CoreLogic RP Data reports as having sold for $380,000 in December 2014, after being listed with a price guide of $415,000 (pictured below).
<img src="/images/2015/01/22/k1.jpg" alt="">
The vendors purchased the three bedroom house for $465,000 in 2006. In 2012, while held by the vendor, it was listed to rent for $1,000 per week, representing a yield of 11.2%.
Given Karratha's large transient workforce, its rental market has been characterised by relatively high rents.
<a href="https://www.realestate.com.au/property-house-wa-bulgarra-115025831" target="_blank">506 Hunt Way in Bulgarra</a> sold for $585,000 in December, after just a year of ownership (pictured below). When it was purchased in late 2013, it was priced at $589,000.
<img src="/images/2015/01/22/k2.jpg" alt="">
The vendors who sold the home for $589,000 in 2013 purchased it for just $44,000 in 1996.
In 2012, it was advertised to rent at $1,400 per week – if successfully rented, it would have earned its owners 1.65 times their purchase price annually.
While the gains for investors may have been ludicrous in the past, as the workforce declines, so too does their income stream.
In 2013, Property Observer wrote that the region's rental market was starting to "<a href="/expert-insights/investing/pilbara-rental-market-starts-to-lose-some-of-its-sparkle">lose some of its sparkle</a>". By July 2014, columnist Terry Ryder was calling <a href="/expert-insights/port-hedland-and-karratha-the-best-places-to-buy-dont-get-roped-into-that-one">Karratha a market "in decline"</a>, but remaining "outrageously overpriced".
The price declines are evident at <a href="https://www.realestate.com.au/property-house-wa-pegs+creek-116093911" target="_blank">7 Wilson Court in Pegs Creek, pictured below</a>.
<img src="/images/2015/01/22/k3.jpg" alt="">
The home sold for $685,000 in April 2014. It has changed hands regularly in the last 10 years, first selling for $320,000 in 2004 before making a 173% price increase over three years to sell in December 2007 for $875,000.
It resold again in 2009 for $710,000, dropping 18.9% in a year and a half. It was then held for three years before its $685,000 April 2014 sale.
The home was advertised to rent for $1,000 per week in April 2014, representing a rental yield of 7.5%.
The town's rental market has been in a downturn in recent years, as have many mining towns in the region.
SQM Research shows the <a href="https://www.sqmresearch.com.au/graph_vacancy.php?sfx=&amp;region=wa%3A%3ANorthern+WA&amp;t=1" target="_blank">vacancy rate</a> in Northern Western Australia tracking upwards in the past two years.
<img src="/images/2015/01/22/Picture%207.png" alt="">
<img src="/images/2015/01/22/Picture%208.png" alt="">
The exit of renting mine workers has also seen <a href="https://www.sqmresearch.com.au/graph_median_rent_weeks.php?sfx=&amp;region=wa%3A%3ANorthern+WA&amp;t=1" target="_blank">rents drop in the region</a>.
Asking rents in Northern Western Australia:
<img src="/images/2015/01/22/Picture%2011.png" alt="">
<img src="/images/2015/01/22/Picture%2013.png" alt="">
As the mining economy transitions into its operational phase over the next few years, Karratha's "affordability" looks likely to continue. <a href="https://www.realestate.com.au/property-house-wa-nickol-114049187" target="_blank">19 Matebore Street, in Karratha's Nickol</a>, is currently on the market for $610,000. Its asking price has been discounted by 22% since it was first listed 594 days ago, for $775,000.
<img src="/images/2015/01/22/k4.jpg" alt="">
Asking rents for the house have been similarly discounted over the past few years. In 2012, it was being advertised to rent at $1,700 per week. In 2014, that decreased to $1,100 per week. Last week, it was advertised again at $750 per week.
The owners paid $790,000 for the home in 2009. If it sells at its current asking price, they will be facing a $180,000 loss, plus stamp duty costs.
{mijopolls 82} 
Feature image of Karratha courtesy of Nachoman/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">CC BY-SA 3.0</a>.
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Karratha: One of Australia's most "affordable" towns, as prices decline

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Lakemba is located 15 kilometres south-west of Sydney's CBD, in the Canterbury local council area.
It's bordered by Wiley Park to the west and Belmore to the east. Lakemba railway station, in the centre of the suburb, is serviced by the Bankstown line. The 450 bus also delivers residents to Burwood, through Roselands and Strathfield and to Hurstville, via Roselands.
This year, as buyers increasingly focussed on Sydney's middle ring western suburbs to find affordable properties, Domain Group senior economist Andrew Wilson says Lakemba saw strong results.
"The numbers look very good for Lakemba," says Wilson. Australian Property Monitors recorded a median house price of $750,000 in Lakemba for the six months to November, up from $645,000 in the previous period.
The <a href="https://www.realestate.com.au/property-house-nsw-lakemba-118155211" target="_blank">three bedroom house</a> below sold for $750,000 in late November. The brick house on a 534 square metre plot had been held by the vendors for 23 years. They paid $149,000 for the house in 1991.
<img src="/images/2014/12/19/house.jpg" alt="">
In the six months to November 2014, median unit values increased from $337,750 to $360,000, according to Australian Property Monitors.
"That's very strong growth," he says. Wilson predicts the strong growth will continue next year, but will eventually slow.
"Sydney's still set to be the best performer of all the capitals next year. There's still a lot of energy in the market.
"Generally, Sydney house price growth is declining, from double figures over the last two years, per year.  It's gone from around 15% per year to 11%, and next year will probably see around 7% growth.
"Most suburbs will move in line with that. Lakemba, particularly in units, still has a close to double figure growth left in it," he explains.
According to Wilson, units in Lakemba are still in a range generally considered to be affordable, particularly given the suburb's location and local amenities.
A <a href="https://www.realestate.com.au/property-unit-nsw-lakemba-117981363" target="_blank">two bedroom apartment</a> in the eight-unit complex pictured below sold for $358,000 in early December. The elevated ground floor unit with a registered car space was bought by the vendor just a year and a half ago, for $260,000. In that time, after receiving fresh floorboards and new carpet in the bedrooms, its value has increased by 37.7%.
<img src="/images/2014/12/19/unit.jpg" alt="">
"Inner middle ring suburbs in Sydney always attract buyers, and it's all part of that search for more affordable options," says Wilson.
"The area is well serviced by transport and infrastructure, and of course, the NSW economy is doing very well.
The area's main retail strip is along Haldon Street, with a variety of stores and restaurants. There are a number of schools in the area, including Lakemba Public School, Hampden Park Public School and Holy Spirit College.
According to the Australian Bureau of Statistics, the Lakemba - Wiley Park area had a population of 27,228 as of 2012. 76% of Lakemba - Wiley Park residents spoke a language other than english at home in 2011.
In 2011, labourers made up the largest proportion of wage earners in the Lakemba and Wiley Park area, accounting for 19.5% of the area's paid workers. 15.0% of the area's wage earners described themselves as professionals, and technicians and trades workers made up 12.7% of wages earners.
Wilson explains that those who cannot afford Sydney's inner western suburbs are increasingly considering properties in Canterbury, Bankstown or Croydon Park. He expects the majority of buyers in the area are and will continue to be owner occupiers, given its affordability.
After a strong 2014, Wilson predicts that in 2015, Lakemba is "still set to be a popular suburb in a moderating market".
You might also want to read: Why I wouldn't buy an old home Sydney's western suburbs. 
Photo of Halden Street, Lakemba courtesy of Blu3d/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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Suburb spotlight: Lakemba presents affordable options for owner occupiers

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GUEST OBSERVATION
Brighton is located on Port Phillip Bay 11 kilometres south of Melbourne’s CBD. One of Melbourne’s most exclusive suburbs, Brighton is home to a number of celebrities and prominent individuals.
Brighton’s demographic has traditionally consisted of middle-aged and older couples with children, along with older single residents. In more recent times, younger families have started populating the area. As of the 2011 census, Brighton had a population of just over 21,000.
The suburb offers a cosmopolitan lifestyle with a selection of attractive shopping precincts. Brighton’s main centre is situated along Church Street which houses supermarkets, an assortment of beauty salons, high-end fashion boutiques, a cinema and a shopping plaza. North Brighton’s historic Bay Street is another popular shopping strip boasting gourmet cafes, bars and restaurants, designer retail stores and gift shops.
Numerous upmarket hotels are scattered along Brighton’s famous Esplanade, which features a pedestrian and bicycle path lined with palm trees along its foreshore. Another area that’s popular among locals is Martin Street which contains a number of gourmet food stores.
Brighton is bordered by six kilometres of stunning coastline and is home to the iconic colourful bathing boxes at Dendy Street Beach. The area also boasts Middle Brighton’s Municipal Baths that were established in 1881 and are one of only a handful of remaining open water seas baths in Australia.
Brighton has a well-connected transport system with the Sandringham train line running through the suburb. Four stations; Gardenvale, North Brighton, Middle Brighton and Brighton Beach provide residents with quick and easy public transport links into Melbourne’s CBD. At the eastern extremities of the suburb, there is also a regular tram service into the city. Brighton is bordered by the Nepean Highway – an arterial route that offers direct access to the city and the Mornington Peninsula.
The area is popular among families with teenage children largely due to its exceptional schools that include; Brighton Grammar School, Brighton Secondary College, Firbank Girls’ Grammar School, Haileybury’s Castlefield Campus, St Leonard’s College, Xavier College’s Kostka Hall campus and Star of the Sea College.
With a median property price of $1.9 million for a house and $940,000 for a unit, Brighton is home to some of Melbourne's most luxurious properties. Almost half of the home owners in the suburb own their property outright. The types of property available in the area can be categorised as follows:
<ul>
<li>Large mansions boasting tennis courts and swimming pools. These can be found in the suburban streets as well as along the desirable Beach Road.</li>
<li>Large Victorian properties.</li>
<li>A good supply of Edwardian family homes and other period properties.</li>
<li>Recent years have seen an influx of modern townhouses.</li>
<li>In the past five to 10 years many new apartments have been built and a number of new developments are currently underway.</li>
</ul>
The majority of properties in the area are stand-alone houses, which make up over 60% of Brighton’s property types. Townhouse and unit housing account for 20% of the houses and the remaining 20% are apartment buildings. Renters make up almost a quarter of the market, so there is high demand for rental properties.
Property prices in Brighton have risen significantly in the past 10 years and as Brighton is a high demand market this is likely to continue. This strong demand has greatly affected the price and availability of property in the area. With an average of 43 people showing interest per property – almost double the state average - it pays to do your research and be selective when it comes to a property’s position, style and type.  
By getting a foothold on the property ladder in Brighton, you will more than likely be able to sit back and watch the value of your investment grow. 
Julian Augustini is director of <a href="https://www.hodges.com.au/brighton-real-estate" target="_blank">Hodges Real Estate Brighton</a>.
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Brighton: High demand pushing prices higher

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GUEST OBSERVATION
For many years Balaclava was considered a modest Melbourne suburb compared to many of its more affluent neighbours, like Prahran. 
However, in recent times the area has undergone a big transformation - the introduction of a number of new trendy eateries and a $20 million facelift to Balaclava station lending it desirability, style and sophistication. 
Unsurprisingly, this has made the suburb quite popular among younger investors wanting to secure property in close proximity to Melbourne’s CBD and its beaches. Bordered by Inkerman Street, Chapel Street and Hotham Street, Balaclava’s demographic encompasses a diverse mix of residents - from young professionals and families, to bohemian artists and musicians. The area also boasts a sizable Jewish community.
Balaclava’s main shopping strip, Carlisle Street, offers residents a selection of amenities including boutique shops and popular cafes like Las Chicas, Batch and the recently opened Glass Merchants – all of which attract long queues year round.
For those looking for evening dining some of the jewels in Carlisle’s crown include Ilona Staller - sister restaurant of St Kilda’s revered Cicciolina, Carlisle Street Wine Bar and Uncle which allows diners to enjoy Vietnamese cuisine on the restaurant’s quirky rooftop terrace.
Those looking for some retail therapy are not forgotten with a number of new boutiques opening recently including A Part of Me, Lulu and neighbouring Little Lulu.
The suburb has a well-connected transport system; with trains from Balaclava station transporting residents into the CBD in less than 15 minutes. The station’s $20 million upgrade has afforded it ‘Premium Station’ status - meaning its platforms are staffed seven days week during train operating hours. The area’s tram network services St Kilda Road and St Kilda beach, whilst Hotham Street operates as a major bus route.
Balaclava’s median property price of $872,500 for a house and $455,000 for a unit, means the area is generally more affordable then its neighbouring suburbs. Over half of the home owners in the area are unmarried and the largest percentage of residents fall into the 25-34 year old bracket. Over 50% of residents reside in a flat, unit or apartment - of which over half are rented. 
The types of property in the area can be categorised as follows:
<ul>
<li>Single fronted Victorian worker’s cottages.</li>
<li>A significant number of Art Deco apartment blocks</li>
<li>Brick Edwardian homes</li>
<li>1950s, 1960s, and 1970s style apartment blocks</li>
<li>Californian bungalows</li>
<li>New apartment blocks being developed</li>
</ul>
Property prices in Balaclava have risen steadily over the past 10 years and given the area is considered a high demand market this is likely to continue.
Selecting an apartment within smaller blocks, looking for unique features and selecting properties with dual street frontages are some tips to investing wisely in the area.
Josh Stirling is director of <a href="https://www.hodges.com.au/hodgesstkilda" target="_blank">Hodges Real Estate St Kilda</a>.
Photo of Carlisle Street, Balaclava: Public domain.
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