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

Joel Robinson

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

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

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

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

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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

The apartment price gap drawing Sydney buyers west

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

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

Suburb Spotlight

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Toowoomba has a lot going for it, real estate-wise.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/Picture3.png"><img class="alignnone size-full wp-image-7422" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/Picture3.png" alt="Picture3"></a>
The good news
The city has just entered a residential recovery.  It is Australia’s largest non-capital inland city. It is the ‘service town’ of the Surat Basin, which is expected to become Australia’s largest energy province.
Yet the city has a diverse economic base and now, a secure water supply.  Toowoomba already holds significant regional infrastructure and several new projects have just been announced.
The challenges 
The city, however, does face some challenges.
The largest is its changing demographics.  Toowoomba’s age structure is polarised, on one hand a significant proportion of its population is aging, whilst on the other a younger buyer and rental group is emerging.
<blockquote>
Toowoomba’s age structure is polarised, on one hand a significant proportion of its population is aging, whilst on the other a younger buyer and rental group is emerging.
</blockquote>
Yet with this demographic shift comes opportunities.
Market recovery
The ingredients that characterise a market recovery are all in place in Toowoomba.
A major regional city
Few realise how big Toowoomba already is, holding 160,000 permanent residents, with its population expected to exceed 200,000 within the next two decades.
The City services a much bigger area, acting as the ‘hub’ for much of the production which occurs west of Brisbane.
In a typical year for example, over half of the trade moving through the Port of Brisbane travels to or emanates from the Toowoomba area. 
Matusik Property Pulse™
Our modelling suggests a growing need for more residential construction in Toowoomba.
This, in turn, will further help increase employment.
Bottom line 
We do expect prices and rents to increase, and maybe sharply, over the next 12 to 14 months as Toowoomba’s recovery gains momentum.
Investors today can anticipate some price growth.  Rents should continue to grow, and most likely strongly in Toowoomba into the future.
But demographics drive the property market and Toowoomba’s twin age peaks (young and old) mean that price growth post 2016 is likely to remain subdued.
Be careful not to pay too much.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
<a href="https://matusik.com.au/products/toowoomba-market-outlook-report/" target="_blank" style="line-height: 1.3em;">Go here</a> for the full Matusik Market Outlook Report on Toowoomba.
Photo courtesy of Alan Henderson/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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michaelmatusik-49YzLvdmNv

Toowoomba's shifting demographics an opportunity for investors

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Sandringham’s beaches and village amenities are a major draw card for buyers.
As of 2011, Melbourne’s <a href="/news">Sandringham</a> had a population of 9,309. There are 3,885 private homes in the suburb, with an average of 2.5 people per household. The median weekly income in 2011 was $1,836, with a median monthly mortgage payment of $2,500 according to the Australian Bureau of Statistics.
According to RP Data, the median house price in the suburb was $2,100,500 for May. April saw a median house price of $1,625,000.
The suburb’s median house price dropped in 2012 (by 10.1%), as it did to a lesser extent in the neighbouring <a href="/news">Hampton</a> in the same year. Both suburbs saw a recovery in 2013, with Sandringham’s median house price up 8.1% in 2013. The median unit price was $525,000 for May.  
This home at <a href="https://www.realestate.com.au/property-house-vic-sandringham-116721703" target="_blank">6 Keats Street in Sandringham</a> (pictured below) is currently on the market, with price expectations between $2,100,000 and $2,200,000.
 <img src="/images/2014/06/16/main%207.jpg" alt="">
The four bedroom art deco home with a pool is marketed by Jenny Dwyer and Warren Smith of Hocking Stuart Sandringham. Set on a 757 square metre block, the renovated home with a pool is within walking distance of the beach and Sandringham station.
Paul Bond of Hodges Real Estate Sandringham says the suburb offers a diverse blend of properties.
“Sandringham has a variety of housing styles,” says Bond. “Art deco homes, Edwardian properties and Californian bungalows are all well sought after by families.
“In addition, the area has a number of more modern townhouses, semis and terraces as well as luxury apartment blocks and courtyard properties which are popular with the older residents. The area has a number of quiet streets which offer the perfect piece of suburban life.”
With solid year on year growth, Bond believes that Sandringham is a suburb to consider for investors.
“However, there is a high demand for property in the area so it pays to know what you are looking for and possibly consider properties that need some renovation as a more affordable way of gaining a foothold in the area,” he advises. He also notes the rise of rental properties in the area.
“Renters make up almost a quarter of the property market in the area - a number which has increased in the past five years,” says Bond.
“This makes investing in the buy to let market in the area a good decision with average rents yielding $400 per week for a unit and $795 per week for a home.
Bond says that the beachside lifestyle drives demand for the suburb.
“Health and fitness enthusiasts are attracted to Sandringham as it offers a perfect environment for a healthy outdoor lifestyle. With almost a quarter of the area being made up of green space and parkland, residents can often be found running, walking and cycling along the foreshore,” says Bond.
The suburb is also home to golf courses, the Sandringham Yacht Club and the Sandringham Football club.
According to Bond, Sandringham’s village lifestyle also makes the suburb popular with residents.
“The main retail area is around Station Street and offers an array of cafes including the kitsch, Cuppa Cottage, a quirky café popular with the local parents for its babycinos and homemade cakes,” he says.
“The area also has a number of restaurants and takeaway shops as well as independent bookstores, toy shops and speciality food stores which are in keeping with the village lifestyle.”
Located 16 kilometres from the Melbourne CBD, Sandringham has a train station that can get residents to the city in just under half an hour. Schools in nearby suburbs such as Brighton Grammar, Firbank, Xavier, St Leonard's, Star of the Sea, Haileybury College and Mentone Girls' Secondary College are also an attraction for buyers.
Bond advises investors to remember the fundamentals if they are considering an investment property in Sandringham.
“When buying to rent it is important to consider location, location, location to secure maximum return on investment. For example ensuring your property is within a few minutes walking distance to transport and shops and in the catchment area of good schools will make it more desirable than competing properties as these are often fundamental requirements for potential renters,” he says.
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jrichardson-uRX5hFdKfN

Suburb spotlight: Does Sandringham’s lifestyle market stack up for investors?

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Over the past two weeks, Property Observer has featured the twin cities of <a href="/expert-insights/buying/suburb-spotlight-albury-market-is-steady-and-strong">Albury</a> and <a href="/expert-insights/buying/suburb-spotlight-will-wodongas-big-spend-pay-off">Wodonga</a> separately. It’s now time to make the two cities share the spotlight, as we compare their property markets.
The local governments of Albury and Wodonga would have you believe that the two cities – one in New South Wales, the other in Victoria, are worlds apart. But with only the Murray River between them, how different can the two markets be?
The major differences between the two cities are a result of their respective governments. With Albury in New South Wales, buyers and sellers in that city have to contend with the state’s stamp duties and land tax rates. The same goes for Wodonga on the other side of the border. But despite Albury’s New South Welsh affiliations, the city is closer to Melbourne than it is Sydney.
ALBURY-WODONGA: THE KEY FIGURES
<ul>
<li>Total population: 82,083 </li>
<li>Total dwellings: 35,831 </li>
<li>Median weekly household income: $1,039 </li>
<li>Median monthly mortgage repayment: $1,452</li>
</ul>
Source: ABS 2011
Council plans may also have an impact, according to founder of Destiny Financial Solutions, television host and Property Observer columnist, Margaret Lomas.
“Wodonga has a sustained and fairly lengthy land release timetable, and to my knowledge, Wodonga seems to have more land available for land release than Albury,” she says.
However, Lomas doesn’t think land release timetables will necessarily make a  difference to investors.
“I don’t think that will ultimately affect land values,” says Lomas. “In reality, you’re not disadvantaged by living in one over the other.”
Albury’s close proximity to Wodonga (or the other way around) means that if one town benefits, so does another.
“I know the councils want to uncouple them, but you can’t really,” she says. “If you live in one or the other, you don’t miss out. The residences get to enjoy the benefits of both towns.
“I think they’re pretty much exposed to almost exactly the same growth drivers.”
As for that growth, Lomas says that it’s likely to be slow and steady for both towns, thanks to improvements from their local governments.
“I think we’ll see sustained growth in both of them. Both local governments are providing far better services to their residents, and are focussed in creating a better lifestyle for their residents,” says Lomas. She cites Wodonga’s town centre developments, the first of their kind in the town, as a move by local government to improve services. Other big spending items in Wodonga include a new saleyard at North Barnawartha and the now completed Logic industrial site.
But despite big spending agendas, Lomas doesn’t believe that we’ll necessarily see rapid growth from the two cities. She echoes the sentiment from Albury real estate agent Peter Drummond of Drummond Real Estate, who told Property Observer late last year that he believed the city’s market was “steady and strong.”
“They both have room for growth,” she says. “But a boom? I don’t think so. And I don’t think we ever see that in any country areas. But over time we could see some excellent returns in a sustained fashion.”
Photo courtesy of Wikimedia. 
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Suburb spotlight: Albury-Wodonga, how do the markets compare across the Murray?

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After looking at the New South Wales border town of Albury last week, Property Observer turns the spotlight to its twin city, Wodonga.
Last year, Observer Terry Ryder <a href="/expert-insights/investing/diversity-is-the-key-to-residential-property-investment-success-terry-ryder">named Albury-Wodonga one of his hotspots</a>, thanks to its diverse economy and location.
“The city's location of the Hume Highway (and the main rail line) between Melbourne and Sydney, with good links also to Canberra, makes it strategically important,” he wrote. “Many transport and logistics businesses are based there.” 
According to the local government, Wodonga has a residential base of 36,629 people. The city recently made headlines after it was revealed to be the fastest growing major regional city in Victoria. Figures from the Australian Bureau of Statistics showed that Wodonga’s population grew by 2.1% in the year to June 2013. Wodonga council’s chief executive, Patience Harrington, told the ABC that the population boost largely came from a growing birth rate.
"We're seeing a lot more young children and young families in our city and certainly those older people in our population are also being sustained," Harrington said.
The city’s population is expected to exceed 50,000 by 2026 – roughly the size of New South Wales’ Wagga Wagga. Together with its twin city Albury, the area had a total population of 82,083 as of 2011.
Wodonga's major employers
<ul>
<li>Manufacturing: 16.5%</li>
<li>Health care and social assistance: 14.1%</li>
<li>Public administration and safety: 13.6%</li>
<li>Retail trade: 11.3%</li>
<li>Education &amp; training: 9.2%</li>
</ul>
Source: REMPLAN 2013
To cope with its growing population, a number of infrastructure investments have been made by the local and state governments. Last year, the Victorian government allocated $250,000 to <a href="/news/vic/victorian-government-injects-250-000-into-wodonga-growth-area-planning">assist the city’s plan for the Leneva-Baranduda growth corridor</a>. 
The government stimulus to link the urban areas of Wodonga to Baranduda via Leneva, south of the city, is intended to build houses for an additional 35,000 people, with 14,000 new homes. The infrastructure project is also projected to create 6,000 jobs in the area.
At its announcement, Victorian Planning Minister Matthew Guy said the growth corridor would “assist in supporting the commercial development of Wodonga’s CBD, where there is already a major urban renewal project underway”.
The city’s urban renewal projects include a $4.3 million road realignment project. The new saleyard at North Barnawartha, which are due to set the city back $25 million, is another major infrastructure project. The saleyard is set to be completed in December.
The city’s investment in infrastructure has not been without consequences for the area’s budget. The 567 hectare Logic industrial hub in Barnawartha North on the Hume highway has been a big spending point for the city. According to The Border Mail, the site was a major contributing factor to skyrocketing debt for the city. The city of Wodonga’s debt level jumped from less than $10 million in 2000-1 to nearly $33 million in 2006-07.
The city now has almost $31 million in debt, the second highest level of debt of any of the state’s regional centres. The Victorian auditor-general’s office has reportedly deemed the city at medium risk of longer-term financial sustainability since 2007-08.
To pay down debt, the local government has been attempting to sell its assets, including an old police station, park land and industrial land. Land at the Logic industrial site is currently being offered on a lot-by-lot basis.
The total value of construction in Wodonga in the 2012-13 financial year exceeded $145 million, according to local government figures. Manufacturing remains the largest employer in Wodonga, with 16.5% of the workforce devoted to manufacturing, followed by 14.1% in health care and social assistance. For 2008-09, the average annual wage in the city was $40,275, with a labour force of 19,615.
The number of occupied residences in 2012 was 14,480, out of a total 16,786 rateable residential properties.
The median house price for the greater Wodonga area was $215,000 for April this year, according to RP Data. <a href="https://www.realestate.com.au/property-house-vic-wodonga-115851535" target="_blank">This three bedroom, one bedroom house</a> sold in April for $225,000.
<img src="/images/2014/05/22/wodonga.jpg" alt="">
The home in central <a href="/news">Wodonga</a> was previously let at $285 per week. It has polished floorboards throughout and sits on about 575 square metres of land. The owners bought the home for $127,500 in 2003.
Other articles in our suburb spotlight series:
<a href="/expert-insights/buying/suburb-spotlight-albury-market-is-steady-and-strong">Suburb spotlight: Albury market is "steady and strong"</a>
<a href="/expert-insights/buying/suburb-spotlight-melton-council-gearing-up-for-growth">Suburb spotlight: Melton council gearing up for growth</a>
<a href="/expert-insights/buying/suburb-spotlight-joondalup-adjusting-to-moderating-market">Suburb spotlight: Joondalup adjusting to moderating market</a>
Photo courtesy of Wikimedia/Creative Commons. 
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Suburb spotlight: Will Wodonga's big spend pay off?

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After highlighting the region late last year, Property Observer revisits the New South Wales city of Albury to see what has changed in the city’s property market.
<a href="/news">Albury</a> is separated from its twin city of <a href="/news">Wodonga</a> by the Murray River. The city has a population of 50,243 people, which is expected to grow to 68,570 by the end of 2031. Albury’s Gross Regional Product was $2,806 billion in 2013, making its Gross Regional Product per worker $131,784 for the year. This result is slightly under the state Gross Regional Product per capita of $159,021.
The region was raised last year as a potential growth area, with <a href="/news/nsw/investors-advised-albury-one-of-five-regional-nsw-markets-at-bottom-of-property-cycle-herron-todd-white">Herron Todd White’s August 2013 report</a> saying that both houses and units in Albury were at the bottom of the property market cycle.   
According to RP Data, the greater Albury area’s median house price was down 1.9% from the year before, with Albury city’s median house price down 7.5% from 2012.
Earlier that year, Observer <a href="/expert-insights/investing/diversity-is-the-key-to-residential-property-investment-success-terry-ryder">Terry Ryder also cited the area in his “hotspotting"</a> reports due to the region’s “diversity and solidity”, writing that the area avoids exposure to the volatility of economic cycles. 
This sentiment was echoed last year by Peter Drummond of Drummond Real Estate, who told Property Observer that the market was “very normal”.
“There are positive things about the market and some people are predicting it as a bit of a boom town – I think it will remain steady and strong,” he said.
Employment is spread over a range of sectors in Albury, with the majority of the city’s 21,293 workers are employed in health care and social assistance industries, followed by retail sector workers.
To further ensure the strength of the region’s economy, the local government has outlined a Digital Economy Strategy, intended to help businesses “transition into a world that is increasingly digitised”. Albury City and Wodonga City committed to a range of initiatives that it predicts will contribute to Albury-Wodonga’s economy by as much as $571 million per year.
Last month, Albury recorded one of the biggest drops in its vacancy rate, according to the Real Estate Institute of New South Wales. The city’s rental market tightened over the month, dropping 0.5% to 1.6% - the same vacancy rate as Sydney’s inner city. It is now even harder to find rental accommodation in the city than six months ago, when the vacancy rate sat at 1.8%.   
According to RP Data, the city’s median house price was $325,000 for March. Units went for a median price of $167,175 in the same month, though February’s median sale price of $355,000 suggests seasonal variation or a month to month difference in the type of stock sold.
<a href="https://www.realestate.com.au/property-house-nsw-east+albury-116926095" target="_blank">This home in East Albury is currently on the market</a> through Sue Moss of Zelle Albury, who is quoting $379,000 for the property. 
 <img src="/images/2014/05/15/albury.jpg" alt="">
The three bedroom, two bathroom brick house with a double garage is set on an 863 square metre block. It includes a formal lounge, a gallery kitchen and a separate dining area. It was last advertised for rent at $385 per week.
Feature photo courtesy of Richard Taylor/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Suburb spotlight: Albury market is "steady and strong"

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Northern Perth’s Joondalup region is adjusting to the moderating market of the city.
The northern beaches Joondalup region includes Burns Beach, Edgewater, Joondalup, Connolly, Heathridge, Kinroos, Currambine, Iluka and Ocean Reef. The suburb of Joondalup itself acts as a hub to Perth’s outer northern suburbs.
The push to establish Joondalup as an urban centre extends back to 1970, with the Corridor Plan for Perth. A number of retail and transport infrastructure initiatives have been implemented around the area in the past 40 years to facilitate urban development and direct activity to Joondalup. Joondalup was highlighted in the West Australian state government’s Directions 2031 strategy as one of two primary centres in the Perth metropolitan area, along with Rockingham.
The area’s CBD has a strong retail focus and has seen considerable residential development in recent years, with a relatively high density of townhouses and apartments. With the presence of Edith Cowan University, a healthy retail and entertainment district, established parks and in close proximity to the beach and Lake Joondalup, the area has attracted demand from the middle class lifestyle market.
The greater region of Joondalup had a median house price of $588,750 in March, while units in the area sold for a median price of $415,000. A <a href="https://www.realestate.com.au/property-apartment-wa-joondalup-115477939" target="_blank">two bedroom Joondalup apartment</a> in the block pictured below sold for $408,000 in February.
<img src="/images/2014/05/07/joondalup%20unit.jpg" width="800" height="600">
According to Australian Property Monitors senior economist Andrew Wilson, Joondalup’s appeal to middle income earners has lent the area some resilience against the changes seen in Perth’s market.
“Joondalup is in the middle price range area,” said Wilson.
“There’s a bit of a lifestyle market there. With all the new developments that have been established in that area, we’re seeing middle price bracket, executive type buyers.
“Because of that nature of the market, it tends to be quite resilient. The big picture is that Perth is moderating. The latest data shows that Perth’s market has plateaued.
“We’re seeing quite a significant upward shift in unemployment in Perth, which has moderated lately.”
According to data from the Real Estate Institute of Western Australia, listings in Joondalup and the neighbouring Wanneroo <a href="/news/wa/perth-vacancies-highest-in-years-rentals-on-market-56-up-on-2013">jumped earlier this year</a>, up 28% in the March quarter from December.
Despite Joondalup’s relative strength, its property market must still deal with exposure to Perth’s labour market, said Wilson.
“The Perth labour market has seen some difficulties with absorbing eastern state migration, which saw rents get pushed up quite sharply in some suburbs of Perth. Perth prices rose 10% last year, and with rising unemployment, we’re starting to see some affordability issues.
“And the lifestyle market can certainly be affected by job security and affordability issues. But as the economy does pick up and absorb that unemployment, incomes will grow.”
The slowing mining sector in Western Australia has seen a shift in focus for the region, with the city of Joondalup launching new initiatives to market the region as Perth’s “knowledge capital”. How well the region responds to the state’s shifting economy remains to be seen, but strong infrastructure investment in the area in the past and extending into the future ensures that it will remain a significant urban centre for Perth’s northern corridor.
Photo courtesy of Wikipedia/Creative Commons.
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Suburb spotlight: Joondalup adjusting to moderating market

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Former Hawthorn president Jeff Kennett yesterday suggested the Hawks AFL team ought consider relocating to Launceston in Tasmania.
It came after ongoing reports that Hawthorn had been considering selling their Waverley Park complex and moving elsewhere.
Speaking with 3AW broadcaster Neil Mitchell, Jeff Kennett said it would be in the best interest of the club to pack up and move across Bass Strait given their existing links to the island state.
"I think that would be the cheapest and most exciting option. I'm not sure that the board would agree with me [but] when you think it through clearly it could be the opportunity of a lifetime."
“The Aurora Stadium is the best surface in Australia,” he said before adding his property insights.
“The (players) could rent out their houses here (Melbourne) and buy new properties in Launceston, so financially they would do well."
<blockquote>
Many of the listings have enough bedrooms for at least half the team to bunk down with their footballer landlord.
</blockquote>
The outspoken former Victorian premier and former club president's latest radical proposal comes as the future of AFL matches at both ends of the Tasmania island are under increasing scrutiny - and at a time when the Tasmanian residential market remains problematic. Indeed RP Data puts<a href="/news"> the Launceston median house price </a>at $360,000 down from its $390,000 peak in 2010.
Nonetheless, Property Observer has come up with the pick of the slow selling crop from the 55 listings on realestateview.com.au starting with an historic house that goes to auction this weekend.
<a href="https://www.realestateview.com.au/Real-Estate/15-maitland-street-launceston/Property-Details-buy-residential-6842489" target="_blank">It is an 1863 Victorian mansion set in a walled-English Country Garden setting</a> at 15 Maitland Street (pictured above).
Its been marketed by agent Stuart Ferrall at Harrison Humphreys as having the comfort of the integrated hydronic heating in the home which comes with double brick interior walls. The basement cellar is special. Around $500,000 is tipped.
Many of the listings have enough bedrooms for at least half the team to bunk down with their footballer landlord.
There is a $1.1 million asking price on the 11 bedroom, 11 bathroom Kilmarnock House built in 1905 as a townhouse for John Ingles, a well-known Launceston merchant. 
The completed cost, as charged was a moderate £1,588 pounds, 15 shillings and threepence for the house at 66 Elphin Road (pictured below).
Last offered for sale 33 years ago, <a href="https://www.realestateview.com.au/Real-Estate/66-elphin-road-launceston/Property-Details-buy-residential-6452859" target="_blank">it is for sale through Harcourts agent Jeremy Wilkinson</a>.
<img src="/images/2014/04/11/launceston%20april%2011%20one.jpg" alt="">
Elsewhere on Elphin is a $760,000 offering (pictured below) which as been billed by Harcourts as a blue-chip investment - <a href="https://www.realestateview.com.au/Real-Estate/63-65-elphin-road-launceston/Property-Details-buy-residential-2107399" target="_blank">with a consistent rent return of $1,125 per week split amongst five units within the home</a>.
<img src="/images/2014/04/11/launceston%20april%2011%20two.jpg" alt="">
At West Launceston, there is a $920,000 asking price on Edenholme Grange, just minutes from the city centre and Cataract Gorge, through Harcourts agent Courtney Hogan. 
<a href="https://www.realestateview.com.au/Real-Estate/14-st-andrews-street-west-launceston/Property-Details-buy-residential-5511219" target="_blank">The 14 St Andrews Street property</a> (pictured below) - currently a 12 room bed and breakfast - is a magnificent eight bedroom house on over one acre of private grounds. It was built in 1881 by a sea captain.
<img src="/images/2014/04/11/launceston%20april%2011%20three.jpg" alt="">
The oldest on offer is on the so-called Quality Row, a heritage listed four storey Georgian residence built by James Bennell in 1843/44 at <a href="https://www.realestateview.com.au/Real-Estate/169-st-john-street-launceston/Property-Details-buy-residential-5891379" target="_blank">165 St John Street</a> (pictured below) with 12 pane sash windows with original shutters. 
<img src="/images/2014/04/11/launceston%20april%2011%20four.jpg" alt="">
No doubt the Hawk players would prefer something a little more contemporary akin to their Melbourne surrounds.
<a href="https://www.realestateview.com.au/Real-Estate/5b-eastbourne-street-south-launceston/Property-Details-buy-residential-6036073" target="_blank">So 5B Eastbourne Street at South Launceston</a> (pictured below) would be the go at $465,000.
It's a new double story home with three good sized bedrooms, two bathrooms, double remote access garage and a sleek, stylish kitchen.The property that boasts 27 squares of quality contemporary living including that must-have private alfresco BBQ area is listed through Ray White agent Steve McCann.
<img src="/images/2014/04/11/launceston%20april%2011%20five.jpg" alt="">
Apartment wise it would be hard to go past <a href="https://www.realestateview.com.au/Real-Estate/4-287-charles-street-launceston/Property-Details-buy-residential-1391122" target="_blank">the newly completed complex</a>, The Charles at 287 Charles Street (pictured below). Not cheap as with nine sold the remaining prices through Harcourts range between apartment 4 at $1,190,000 and apartment 13 at $1,650,000. 
Designed by the eventual penthouse owner, Josef Chromy, the multi storied luxury former hospital-turned hotel-apartment block with kitchens featuring top quality stainless appliances including inbuilt coffee machines, is situated in the Paris end of Charles Street.
<img src="/images/2014/04/11/launceston%20april%2011%20six.jpg" alt="">
The cheapest apartment in the town is $108,000 in the Best Western complex. T<a href="https://www.realestateview.com.au/Real-Estate/610-3-earl-street-launceston/Property-Details-buy-residential-6360425" target="_blank">he 610/3 Earl Street offering</a> (pictured below) through Ray White agent Veronica West is being marketed as a single bedroom strata unit on the top floor with a 10 year lease in place, showing an approximate return of 5-6%.
<img src="/images/2014/04/11/launceston%20april%2011%20seven.jpg" alt="">
Oh and for the coach or club president? No doubt that's the <a href="https://www.realestateview.com.au/Real-Estate/launceston/Property-Details-buy-residential-6554163" target="_blank">$3 million Old Marchington five hectare estate</a> (pictured below)<a href="https://www.realestateview.com.au/Real-Estate/launceston/Property-Details-buy-residential-6554163" target="_blank"> </a>10 minutes out of town at Relbia - recently voted the most popular residential property currently on the market in a Mercury newspaper feature.
<img src="/images/2014/04/11/launceston%20april%2011%20eight.jpg" alt="">
Vendor Robert Knott went strong on the the Greek symbology in Mediterranean themed artistry which includes the Sistine Chapel inspired ceiling artwork. It all sort of begins on the driveway turning circle with Tasmania's largest private fountain forming a centre piece. 
The marketing of Old Marchington says its overlooks vineyards and rolling pastures that could easily mirror a glimpse of Tuscany. 
The Hawks currently fly in, fly out for four AFL games annually.
They aren't alone. The North Melbourne Kangaroos will play two games at the Blundstone Arena at Bellerive oval in Hobart late in the 2014 season.
And the former Collingwood and Fremantle star Chris Tarrant does it five times a year signing up to play in the local league for North Launceston Bombers.
The 33-year-old, 268-game AFL veteran played one match for the Northern Bombers last season. Tarrant is set to play his first match for the season on Good Friday against Launceston, followed by the Anzac Day clash against Clarence, Lauderdale on 24 May, Burnie on 19 June and the Western Storm on 22 August.
<blockquote>
The Hawks currently fly in, fly out for four AFL games annually. 
</blockquote>
Tarrant lives on the mainland and keeps busy with business commitments in the health and fitness industry, about to release his own organic protein powder called Inta Organics.
Tarrant and his wife, model Lauren Strauss, live in a $3.15 million 1880s South Yarra house bought in 2012 after they sold their Adelaide Street, Armadale French Provincial style home for $3.85 million also in 2012, <a href="https://www.youtube.com/watch?v=5kTRy-JvAjc" target="_blank">having listed it initially in 2010</a>.
In 2005 Tarrant sold his three-level townhouse in Clifton Hill, just a drop punt from Victoria Park, where Collingwood trained for 112 years until they moved to the $17 million Lexus Centre in 2004.
 
{qtube vid:=5kTRy-JvAjc}
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jchancellor-FAypfDUnLy

Not so cheap Launceston actually - potential homes for the AFL Hawks if they fly the Waverley eyrie

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Some 35 kilometres west of Melbourne CBD, the City of Melton is a flat plain with a farming history, that seems to be finally making a bit of a mark.
<a href="/news">Melton</a> and <a href="/news">Melton South</a> are fast growing, well-serviced areas, but ones that may not be seeing any real capital growth for some time. This means good things for home buyers looking to get in over the medium-term, and yet it also doesn't appear investors are being put off by the hefty amounts of supply coming onto the pipeline or up for sale at present.
Part of the restraint on property prices is the steady release of land occurring around the area. Just over the past weekend, a Lend Lease <a href="/expert-insights/building/how-to-navigate-a-house-and-land-display-home-launch">display home launch attracted the attention of Property Observer</a>, promising residence for up to 4,000 people. Atherstone, the Lend Lease development, is just one in a stream of new house and land developments for the area that look to bring in families and quality new homes.
<blockquote>
The vacancy rate in the area currently sits at a fairly tight 2.2%, however there are a number up for rent at present.
</blockquote>
With another house and land creation, from developer <a href="https://www.waterfordlife.com.au/" target="_blank">608 Property, called Waterford</a> just a five minute drive further on down the road, and still many blocks unsold in the somewhat more built up but new offerings around the Exford Road end of Bridge Road itself, it remains unclear how long it will take for this supply to be absorbed. <a href="https://www.toolernwatersestate.com.au/" target="_blank">Toolern Waters</a> is also a short drive away, a 960 lot masterplanned development.
The vacancy rate in the area currently sits at a fairly tight 2.2%, however there are a number up for rent within the suburb and there appears to be little competition for some of the larger blocks - with demand dropping off the further away from Melton Station you get, which is actually located in Melton South's upper end. This is largely a house-dominated area, with few units to speak of around the Melton and Melton South suburbs.
KEY STATS ABOUT THE CITY OF MELTON
<ul>
<li>6,800 businesses registered 
</li>
<li>16,139 jobs</li>
</ul>
COUNCIL PLANS FOR 2030
<ul>
<li>67,675 additional dwellings. 
</li>
<li>185,170 additional residents. 
</li>
<li>New activity centres in Plumpton, Rockbank, Rockbank North and Hopkins Road, and a new Metropolitan Activity Centre in Toolern. 
</li>
<li>Growth in manufacturing industry.</li>
</ul>
Source: City of Melton Council
Melton South and Melton are structured around two main roads - Exford Road, which turns into Station Road and cuts through the middle of Melton South, and High Street, the main shopping strip for the area that is also home to a number of different real estate agencies. In addition to the High Street shops is Woodgrove Shopping Centre, that underwent the beginning of an $88 million expansion project in 2012 to more than double the centre by the end of 2013, which is complemented by the nearby and newly built Melton Library and Learning Hub that completed in June last year. It's worth noting that both of these relatively new pieces of infrastructure are usually busy with residents, and spoken of with some pride.
<blockquote>
The Melton Council also has their "growth" hat on, encouraging the creation of new suburbs and the strength of the area.
</blockquote>
This reflects the plan for the area, which saw a 2004 population recorded at 71,350 and a current 2020 population projection from the Department of Sustainability and Environment of 130,919. It appears this may be easily surpassed, with the City of Melton council estimating a total population of 125,409 as of 31 December 2013, with their estimates looking at "more than 241,000 by 2031", which would make the area the size of the Sunshine Coast. The Council also has their "growth" hat on, encouraging the creation of new suburbs and the strength of the area in their recent Economic Development and Tourism Plan 2014 to 2030.
Melton South is socioeconomically the most disadvantaged area within the City of Melton. However, compared to Greater Melbourne, the City of Melton is middling when looking at socioeconomic disadvantage. Police presence is, however, still heavy around Melton train station and it appears that it does have something of a stigma to shake off with signs noting it is a high crime location.
Within Melton South itself there is a smaller shopping plaza near the station, with a discount store, bakery, liquor shop, fruit and vegetable store, restaurant, Woolworths and other necessary outlets. There are also a number of take out shops, a fabric store, a tattoo parlour and a video store on the opposite side of the station. The City of Melton is noted to have one of the highest worker/local job ratios across the metropolitan growth areas, evidenced by the large number of signs up for local home-based businesses, yet despite this the 7am work day train to Southern Cross is continually full.
PROPERTIES OF NOTE
If you're a heritage property enthusiast, then it's worth an amble through the neighbourhood and down Exford Road, to where the notable Glenloth at 54 Exford Road - a council owned Edwardian-style beauty that is fairly unkempt - is located.  Originally on a large rural land holding, called Exford, it is now in the suburban context on a reduced block, and is noted as having local significance.
<blockquote>
More expensive properties, while seeing less rental interest, can achieve around $300 to $350 per week return.
</blockquote>
The Shire of Melton Heritage Study - Volume 4 notes that it "expresses one of the major themes of Australia's history - the contest between large pastoralists and small farmers for the land - and the abiding power of the yeomanry well into the twentieth century.
"The break up of the massive pastoral estates at the beginning of the twentieth century market a major new era in the history of Melton. The Shire was transformed by the Closer Settlement and Soldier Settlement Acts, as the emergence of new communities necessitated new roads and bridges and new primary schools."
Now there are a number of schools, churches, parks and even a university campus within the local area.
Buses run through, however it's poorly connected for anyone who doesn't work nine to five, prompting a busy taxi service to currently service the area. Similarly, the train takes 35 minutes on express to Southern Cross, however isn't a hugely frequent service during morning peak hour. This may be shaken up under plans long-discussed for the area, with potential additions at Deer Park West, Caroline Springs and Toolern, and might challenge some of the city dwellers' perspectives that Melton is "far away".
Despite remaining a fairly quiet area, the community remains shaken by a house fire and subsequent death of teenager Daniel Sheehy back in 2012, and occasional acts of vandalism around the time of the anniversary take place. While this comes as a surprise to some, locals confirmed that this has happened for the past few years and it is common to see graffiti on fences.
<blockquote>
SUBURB STATISTICS - MELTON HOUSES
MEDIAN PRICE: $245,000
MEDIAN ASKING RENT: $250 PER WEEK
INDICATIVE RENTAL YIELD: 5.31%
AVE. TIME ON MARKET: 88 DAYS
</blockquote>
With all of this occurring, it's unsurprising that Melton has already secured itself a place on many a person's "to watch" list. In 2012, it <a href="/news/vic/top-10-victorian-capital-growth-hotspots-with-ivanhoe-a-shining-star-for-past-five-years-reiv">scored in the Top 10 for the Real Estate Institute of Victoria's capital growth suburbs</a> for the year, meanwhile in August last year <a href="/news/melton-forecast-to-grow-strongly-over-next-25-years-prdnationwide">PRDnationwide forecasted strong growth for the area</a> over the next 25 years. The end of 2012 saw <a href="/expert-insights/investing/property-market-picking-up-in-outer-melbourne-suburb-of-melton-thanks-to-improved-buyer-sentiment-hockingstuart">Hockingstuart providing some good news about the Melton area</a> as well, with the market picking up in the top end. Melton's "top end" sits around the $400,000 mark, with the more common investment purchases being from $200,000 to $250,000 with rent from $250 to $285 a week. More expensive properties, while seeing less rental interest, can achieve around $300 to $350 per week return.
In fact, Melton has <a href="/news/vic/from-melton-to-berwick-the-33-melbourne-suburbs-with-affordable-three-bedroom-apartments">topped "cheapie" lists </a>on Property Observer for some time, and is unsurprisingly attractive to first home buyers for this reason, and for investors - with the market picking up and recent <a href="/expert-insights/buying/melton-south-cheapie-sells-for-190-000-reflecting-6-16-yield">sales to investors in Melton South being noted by local real estate agents</a>.
Listings websites are currently flooded with either cheap and new (or cheap new) properties, including many in the low-$300,000 bracket, as well as the occasional multi-million dollar rural listing.
For instance, <a href="https://www.realestate.com.au/property-house-vic-melton-116063279?listingType=buy" target="_blank">141 Barkers Lane, Melton</a> (pictured below) is listed for $249,699 (which includes a $10,000 FHOG, the advertisement reveals).
The three-bedroom, two-bathroom new offering includes two garage spaces, colour bond fencing and a modest 250 square metre block, from Sherridon Homes. It's centrally located.
<img src="/images/2014/04/10/melton%20april%2010%20one.jpg" alt="">
Meanwhile, <a href="https://www.realestate.com.au/property-house-vic-melton-116403767">2 Scott Street, Melton</a> (pictured below) is listed for $249,000 over 717 square metres, with a suggested possibility for subdivision.
The four-bedrooms, one-bathroom, two-car port home also has a 6X7 metre shed and ducted cooling and all bedrooms come with built in wardrobes. It appears the house could do with some updating, but is in fairly good condition.
<img src="/images/2014/04/10/melton-april-10-two.jpg" alt="">
For more specific statistics on Melton, and its surrounding suburbs, you can <a href="/news">view the relevant data page here</a>.
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jduke-EHk3XBmHkn

Suburb spotlight: Melton council gearing up for growth

<html><body>
Queensland's Bundaberg, or Bundy, has had a pretty tough run since the global financial crisis and the 2011 and 2013 floods, and it appears property investors have been pretty wary of the market since these events.
The city, which has made its way onto the Minister for Agriculture, Fisheries and Forestry, John McVeigh's growing drought list last month, is a mixed bag.
PRDnationwide's research department has found that an $80 million investment from the state and federal governments into flood damage repair and prevention has pushed Bundy back into the property investing safe zone, where they note affordable homes are available around the $200,000 price point.
<blockquote>
But despite the temptingly low prices and green shoots of positivity, is it really stabilising and should you be buying there?
</blockquote>
But despite the temptingly low prices and green shoots of positivity, is it really stabilising and should you be buying there?
On the PRDnationwide team, research analyst Harrison Hall said that retail and civic investment was being seen, pointing to longer-term opportunities.
“Growth has been minimal to this stage with median house prices edging up just 2% per annum over the past two years and the level of sales transactions slightly down, but that is expected to change with the population forecast to expand by 20% over the next two decades and plenty of investors and new owner-occupiers looking to capitalise on the current low entry prices," said Harrison.
Meanwhile, their principal of an agency in the area, Ainsley Driver, said that it is the beginning of the brightest year they've had in a while with more stock being shifted, most within the $200,000 to $400,000 bracket.
“A year on from the floods and most property and infrastructure has been repaired,” he said.
But, despite the physical infrastructure being repaired, has the confidence and sentiment in property buyers been repaired?
According to RP Data, <a href="/developments/bundaberg-east-qld-4670">Bundaberg East</a> saw a significant decline over 2012/2013, however has been steadily climbing back up again, while <a href="/developments/bundaberg-north-qld-4670">Bundaberg North</a> is yet to show any signs of an improvement on their downfall.
<a href="/developments/bundaberg-south-qld-4670">Bundaberg South</a> and <a href="/developments/bundaberg-west-qld-4670">Bundaberg West</a>'s medians are holding steady.
In December 2013, a Newsmail investigation found that 18 small businesses had closed or not yet re-opened as a result of the January 2013 floods.
Despite this, there is still hefty interest in the region. The state government recently "called in" a development application for a proposed residential development at Bundaberg's Coral Cove from Austcorp. The development was approved in October 2013 by Bundaberg Regional Council.
Deputy premier Jeff Seeney recently called in the development.
“Austcorp’s proposed development at Coral Cove is in the ‘separation area’ of the existing Boral Quarry and the proposed Holcim Quarry,” Seeney said.
“We want to ensure that any development in this Key Resource Area is compatible with the type of extractive industry already existing or proposed for the area.”
A re-assessment is underway, and Seeney will determine whether the development will go ahead or not, having received a number of submissions. A decision is set to be made at the end of June 2014.
It also appears that real estate agencies are also starting to move more into the area. Raine &amp; Horne <a href="/news/some-of-the-countrys-biggest-real-estate-agencies-are-in-expansion-mode">opened up an office on the Coral Coast, Raine &amp; Horne Bundaberg, late last year</a>.
Let's open it up to Property Observer readers.
{mijopolls 4}
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