When long-time Ivanhoe locals Graeme and Catherine, decided it was time to downsize, they weren’t necessarily in a rush.&nbsp;

Like many in their stage of life, they had started thinking about apartment living, but anticipated making the shift in two to three years.

That timeline changed when they visited <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, a new boutique development by <a href="https://www.urban.com.au/developers/salter-brothers">Salter Brothers</a>. The project ticked all the boxes they were looking for: location, quality design, and long-term lifestyle benefits, which prompted them to bring their decision forward.

“It was the right place at the right time,” they said. “We knew immediately it ticked all the boxes, and we didn’t want to wait.”

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Their decision to downsize was driven by a combination of practical needs and lifestyle considerations. Their existing home, while much loved, had become increasingly difficult to maintain. It spanned multiple levels, included extensive front and back gardens, and was starting to show the wear that comes with age.&nbsp;

They were looking for a more manageable lifestyle, one with less upkeep and more freedom. A brand-new apartment with no maintenance requirements and the ability to simply “lock up and leave” gave them peace of mind and a greater sense of control over their future.

Financially, the purchase made sense as well. The available stamp duty savings, strong price-to-value offering, and timing of the settlement suited their plans, making the transition smoother and more cost-effective. The apartment's design and inclusions further supported their choice.

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The layout was both functional and flexible: three bedrooms, a butler’s pantry, a separate laundry, and a large open-plan living area. It gave them the freedom to host a family, accommodate guests, or set up a home office. The expansive balcony and elevated views added to the appeal, providing a sense of openness and connection to the outdoors.

“It just had a really good flow,” Catherine noted, something they found lacking in many other apartments they’d considered, particularly in the established market.

Candela’s boutique scale was another deciding factor. With a smaller number of residences and a top-floor penthouse position, the couple felt the development offered the privacy and space they were looking for, without feeling isolated.

“We liked that it wasn’t a huge development. It felt well-balanced, modern but still with a sense of community, not overwhelming,” they said.

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Equally important was the ability to remain in Ivanhoe, a suburb they know well and have deep roots in. After 46 years in the area, proximity to local parks, shops, and familiar faces mattered just as much as the apartment itself.

“We didn’t want to give up the community we’ve known for decades. Candela allowed us to upgrade our lifestyle while staying in the place we call home.”

With a Walk Score of 90, the village location supports a convenient, connected lifestyle. <a href="https://www.apartments.com.au/developments/ivanhoe-vic-3079">Ivanhoe</a> Station is just a eight-minute walk away, and the neighbourhood offers access to parks, cafes, restaurants, and schools along Upper Heidelberg Road, all within easy reach.

Beyond the apartment, the couple also saw value in the broader vision for Candela, one that integrates residential living with public spaces and local amenities.&nbsp;

The development introduces 58 new apartments as well as a mix of commercial and social spaces that integrate contemporary architecture with the suburb’s existing character.&nbsp;

At ground level, residents will find a charming café and a lifestyle wellness centre, perfect for unwinding and rejuvenating. Meanwhile, the rooftop garden offers a stunning vantage point for residents to enjoy breathtaking sunsets, host gatherings, or enjoy barbecues with family and friends. It's not just a place to live; it's a vibrant community where every moment is an opportunity to connect and create lasting memories.

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Staff Writer

Why Ivanhoe locals are choosing to downsize to Candela

Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

Project management and construction management firm Creative Vision filed the plans for the&nbsp;multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

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The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

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Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

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<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

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Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

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Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

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Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Ten ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

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The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

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“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

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Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Property development giant <a href="https://www.apartments.com.au/developers/avid-property-group">AVID Property Group</a> is approaching completion, and sell-out, of its Surry Hills apartment development, <a href="https://www.apartments.com.au/new-apartments/the-rathbone-23-47-flinders-street-surry-hills-nsw-2010">The Rathbone</a>.

The Flinders St project has sold well over half of its 32 apartments, which will sit above two retail spaces.

Now hitting the market are the final 14 one-, two-, and three-bedroom apartments, which start from $1.15 million. AVID is targeting a mid-2026 completion.

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AVID General Manager New South Wales Danny Boubli said as more apartments are introduced to increase housing options in inner-city areas, homebuyers are searching for a &nbsp;sense of belonging in addition to location, convenience and value.&nbsp;

“There are very few opportunities for new developments in Surry Hills, and since acquiring the site, we’ve even seen one early purchaser merge two apartments plans together, reflecting the demand for a spacious, premium offering in a prime location,” Boubli said.&nbsp;

“Demand has been strong since we launched to market – we don’t see these final apartments staying on the market for long.”&nbsp;

Architectural firm Studio SC has designed the building which pays homage to the former 1900s Rathbone Terraces that once sat on the 990 sqm island site.

Boubil said the team has made every effort to create "truly liveable apartments", through&nbsp;functional floor plans, security, storage, and the inclusion of quality fittings.

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&nbsp;

Sustainable design has also been implemented throughout the development, with natural light flooding each apartment, ventilation throughout, extensive landscaping and where possible, materials with a high level of recycled content and low volatile organic compound paints have been used. &nbsp;

Apartments range in size from 57 sqm for the one-bedrooms to the large-scale 165 sqm three-beds which are priced at $2,575,000.

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AVID launches final apartments at The Rathbone, Surry Hills

Tamworth

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Tamworth is seeing a lot of first time buyers in both the owner-occupier and investor sectors in comparison to other cities, according to HTW’s Month in Review: March 2017. 
The valuation firm says the $250,000 to $350,000 range is the most active for these buyers, with many choosing to buy within established suburbs and renovating older dwellings.
Outside of this range the buyers are choosing to build rather then buy.
“The incentives offered (ie. no stamp duty, $10,000 grant) mean they will save money when compared to buying a house of a similar calibre,” the report says.
“There is strong evidence of young people buying in Tamworth, particularly building homes, who come from Sydney and as they cannot afford to buy there.”
HTW advises buyers to choose their location very carefully.
“While prices in several suburbs can be very enticing for young buyers, ie. less then $200,000, these areas experience little to no capital growth and are not a good long term investment,” it says.
“Parts of west Tamworth and south Tamworth should be avoided as they have a strong housing commission population and historically experience very little growth when compared to non housing commission areas within the same suburb.
“The mistakes we are seeing include going too big too soon, with many first time buyers who choose to build trying to build their ‘forever home’ and placing themselves in a situation where they struggle with mortgage affordability.
“With the affordable options of Tamworth it is best to research and remember that this house will most likely not be a forever home for them, so spending $700,000 on a first home in the best suburb is not needed.”
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-124623126" target="_blank">357 Armidale Road</a>, Tamworth (above) has been listed for between $330,000 to $350,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-124859686" target="_blank">14 Aberdeen Street</a>, Tamworth (below) has been listed for $270,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/09/14%20Aberdeen%20Street.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Tamworth seeing influx of first time buyers from Sydney

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Compared to its city and coastal cousins, Tamworth is not necessarily known for its prestige property, but there are options for buyers seeking a luxurious place to call home, according to the November report from Herron Todd White.
Unlike large city and many large coastal communities, the price tag on Tamworth’s prestige market is largely considered to be anything over $1 million in close proximity to the CBD, namely located in East Tamworth, or high value smaller rural lifestyle holdings on the city’s fringes.
The prestige property in Tamworth is relatively thinly traded and subject to a degree of short volatility, however given Tamworth’s growing population and importance as a major economic centre in northern New South Wales, we view these assets as being a sound long term investment and the option for a growing family.
Many of Tamworth’s prestige properties feature large renovated double block homes in leafy East Tamworth where shopping and schools are within a five-minute drive. A recent example was the sale of 56 White Street, East Tamworth also known as Kimeree (pictured) which sold on 18 December 2019 for $1.229 million. This is not far above the average Sydney house price!
There have been a number of East Tamworth prestige sales in recent years over the $1 million price point in close proximity to Tamworth’s CBD. More recently there have been fewer high value properties listed on the market and selling periods have increased throughout the COVID pandemic. However regional economies have been very resilient throughout this period and anecdotal evidence is showing a rejuvenation of major regional hubs.
Many areas are experiencing outstanding seasonal conditions for farmers and rural economies continue to help drive Australia out of recession. Interest from city buyers has increased according to many agents across the region with regional prestige property providing value for money and an appealing proposition for those seeking a lifestyle change.
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j.ballantyne1990-6AQqhLzZaK

Tamworth prestige market remains resilient and affordable: HTW

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A Tamworth, New South Wales mortgagee home has been sold for $230,000.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-132926730" target="_blank">70 Church Street</a>, Bryan Bolitho of Raine and Horne Tamworth were marketing the house.
The weatherboard and iron cottage consists of three bedroom, one bathroom, updated kitchen and study or office.
It also features open fireplace and rear access with room for sheds or garage. 
The home is situated in Central West within walking distance to the CBD.
It was last sold in 2012 for $227,500. 
 
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Tamworth, NSW mortgagee home sold for minor profit

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With its multitude of suburbs, each with their own pros and cons, Tamworth has an area for every home owner for each stage of their property journey, according to the latest Herron Todd White (HTW) residential report. 
The report suggests first home owners can be found throughout, but the typical suburbs are South Tamworth, Hillvue and parts of North Tamworth. 
"These suburbs offer older homes with a price tag of $200,000 to $350,000 which will get you a doer-upper at the lower end to a fully renovated 1980s brick dwelling at the upper end. Our demographic here tends to be younger owners either as a single occupier, young couple or family - think 20s to early 30s," the valuation firm said. 
"Our next demographic is those in their early 30s up to 50. This is where location and size count as typically buyers are looking to be in a good location for their kids to grow up with space to grow and play as the family does. Calala, Moore Creek, North Tamworth and East Tamworth are where we see most of these buyers," the valuation firm continued. 
Young families dominate the newer areas of Calala, Moore Creek and North Tamworth as they are able to secure a newish (less than five years old) four-bedroom, two-bathroom dwelling with no work needed on a comfortable 700 plus square metre lot, all for under $550,000 depending on the home. Those looking for proximity to schools and the CDB focus on the blue chip area of East Tamworth.
A new four bedroom house on a 700sqm block in Calala is currently on the market with a price of $479,000.
Situated at <a href="https://www.realestate.com.au/property-house-nsw-calala-133037706" target="_blank">37 Eagle Avenue </a>(pictured below), the family home comes with three living areas plus covered alfresco living, open kitchen/family/dining room and double garage. 
Other features include landscaped backyard and stainless steel fittings in kitchen.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/calala.jpg" alt="">
"While the in town properties certainly attract a lot of buyers, let’s not forget about those who want a bit of space for the horse or motorbike. This is where the small acreage (one to ten hectare) properties of Moore Creek and Daruka come into play.
"Out in these areas, we predominantly see either young families moving for the space or older owners who have raised their families and watched them leave, but are not yet ready to down size," the valuation firm said. 
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"Once we get to downsizers, all suburbs are fair game with a large range of new and old dwellings on smaller lots with easy maintenance available all over Tamworth," the valuation firm stated. 
New builds in North Tamworth and Calala are very popular, but so are older renovated dwellings in East Tamworth that offer proximity to the CBD, the report noted. 
All in all, every suburb in Tamworth has owners from all stages of their property journey with no one suburb being ultimately dominated by any particular demographic. 
"With the continued low interest rates, we are seeing first home owners stretching that little bit more to secure themselves a property in the more prestigious area of East Tamworth.
 
"Along with this we are seeing first home buyers also getting into bigger, brand new homes in North Tamworth or Calala, where over the years there has certainly been more of a shift towards the younger demographic or first home owner." 
A three bedroom house in East Tamworth has recently been sold for $790,000.
Set on a 1,190sqm block, the 1940s house at <a href="https://www.realestate.com.au/sold/property-house-nsw-east+tamworth-132282134" target="_blank">111 Upper Street</a> (pictured below) comes with 4 optional living areas, verandah overlooking the courtyard and single carport. 
Other features include high ceilings , original stain glass windows, renovated bathroom and under house storage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/east%20tamworth%20.jpg" alt="">
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Tamworth property market has homes for every stage of the property journey: HTW residential 

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The two biggest drivers of the Tamworth market at the moment are the historically low interest rates and the drought, which despite recent rain has on-going impacts, according to the latest Herron Todd White (HTW) residential report. 
<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</div>
 The past few years of drought have put a strain on the town’s water supply which despite recent rain has not increased by any significant amount. After having been on water restrictions for over 12 months, residents are wondering whether or not there is a long term solution for the future with Tamworth’s population expected to hit 100,000 by 2040. 
While there are plans in place with a new dam and pipeline underway, confidence will remain low until these projects are completed. The economic effect of the drought saw less money coming into the property market which resulted in a slow-down, the report noted. 
"Tamworth as a whole did not see a decline in property values, but we did see an increase in days on market, where houses that traditionally sold in one to two months were taking three to four," the valuation firm said. 
The report suggests it is not all doom and gloom for Tamworth as the city still offers plenty of appeal for residents, with strong employment opportunities, relatively cheap housing and good services and amenities available.
 Tamworth is a major regional centre and offers quality schools, good health services and a large pool of employment opportunities with blue collar, white collar and everything in between catered for.
"On top of this, a modern four-bedroom, two-bathroom, brick veneer dwelling can be had for under $400,000 (depending on the suburb), making Tamworth very attractive to those finding themselves priced out of the larger cities," the valuation firm said. 
A four bedroom house situated in Tamworth CBD has been listed for sale with $399,000 hopes. 
Set on a 656sqm block, the <a href="https://www.realestate.com.au/property-house-nsw-tamworth-127288198" target="_blank">9 Lilly Pilly Court</a> home (pictured below) offers 2 bedrooms, open plan living, and fully fenced backyard. 
It is positioned close to schools and shops. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/tamworth%201.jpg" alt="">
This combined with recent rain and low interest rates has local agents reporting less days on market for sales and more buyer enquiry than experienced in recent months (prior to the rain). This higher buyer interest has not yet resulted in an increase in house values.
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The government’s First Home Super Saver and First Home Loan Deposit schemes have seen first home buyers become more active in the Tamworth market. 
Along with the low interest rates we are seeing more people selling to first home buyers and then upgrading, typically leaving South Tamworth, West Tamworth, Hillvue, Oxley Vale and Westdale and moving to Calala, North and East Tamworth, Moore Creek, Daruka and newer parts of Hillvue.
A Moore Creek house sitting on a 4,152sqm block was sold for $460,000 in February. 
The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-moore+creek-132683298" target="_blank">30 Barrington Drive</a> (pictured below).
It comes with large open plan living areas, covered entertainment area, double garage, and three bay vehicle steel shed. 
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"Increased confidence in the local economy after the recent rain as well as low interest rates suggest that these trends will continue in the short to medium term. This may be thrown completely out of the window with the current COVID-19 pandemic, but excluding this we expect a slight increase in the property market over 2020." 
<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Tamworth property market sees higher buyer interest: HTW residential 

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Water, water, water! This will be the major determining factor over the next 12 months for how the Tamworth market performs, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
 As the drought continues to ravage the state, the government recently announced funding for a new dam to be constructed for Tamworth’s water supply as well as a direct pipeline from existing water sources to the town treatment centre. 
"This has gone a long way in shoring up the town water supply as well as increasing confidence in the town, but as they are yet to be completed we are not out of the woods yet," the valuation firm commented. 
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Despite the drought, the real estate market in Tamworth has been holding up well, showing that Tamworth is no longer only reliant on the agricultural industry, however it is now clear that a slowdown has occurred with a noticeable increase in days on market. 
While properties are still achieving fair market value with no drop in values noted, they are certainly taking longer to sell, perhaps a month longer than expected but still below a six month period.
"We expect this trend to continue throughout 2020 unless we receive some drought-breaking rain which will increase cash flow into the local economy from the surrounding agricultural industry as well as refilling the town water supply," the valuation firm said. 
The extended selling periods currently being experienced may open up opportunities for the astute buyer if the vendor requires a quick sale.
"We would keep an eye on east, inner north and inner west Tamworth, as these areas can often be tightly held and have experienced good growth in past years," the valuation firm said. 
On the construction side of things, the past year saw a decrease in construction with some of the larger local builders reporting up to a 40 percent drop in new homes. This may be more a reflection on how many homes they were doing previously, with smaller builders reporting more work than before.
"We expect this trend to continue in 2020 with a possible uplift as the new first home owners grant is enacted, requiring first time buyers to have only a five percent deposit and the government guaranteeing the other 15 percent.
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"Overall we are expecting 2020 to remain stable but slower than the past few years with the continued drought. If we receive the rain we are praying for, we may see an uplift towards the latter half of the year." 
A recent sale was a Calala four bedroom, two bathroom house situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-132367054" target="_blank">3 Currawong Drive </a>(pictured below). 
It was sold for $368,000 in February. 
Set on a 686 square metre block, the home features living spaces, outdoor slab, and double garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/17/tamworth%202.jpg" alt="">
A four bedroom house with elevated views of Tamworth has been listed for sale with $375,000 hopes.
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<div class="section">Situated at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-124351090" target="_blank">13 Lemon Gums Drive</a> (pictured below), the house comprises four bedrooms, combined lounge/dining, family room and alfresco area.</div>
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<div class="section">Other features include in-ground pool, kitchen with bush land views, and double garage. <img src="blob:https://www.urban.com.au/c5528a23-7bf5-451d-a9b2-0da335568b88" alt="page14image3693520" width="0.500000" height="0.500000"> </div>
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Tamworth property market to be determined by rain in 2020: HTW residential 

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Though patchy, Tamworth has seen a positive start to 2020, according to the latest Herron Todd White (HTW) rural report.
The property valuation firm suggests, with large areas of New South Wales still affected by the ongoing severe drought, follow up rain and a return to average seasonal conditions was required before a more optimistic outlook can be taken. 
The report was issued in early February before the heavy rains across some of NSW.
"There remains reasonable demand for rural land in New South Wales, particularly from existing land-holders looking to expand and we expect this to continue throughout 2020."
"Values appear to be holding, however it is expected that if the drought shows signs of breaking and there is return to normal seasonal conditions, there may be an influx of listings which has the potential to create an oversupply which may in turn lead to a softening in values over the next 12 months."
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Tamworth values expected to soften in 2020: HTW rural

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The high end market in Tamworth can be broken into three distinct sections – the new, the old and the lifestyle, according to the latest Herron Todd White (HTW) residential report. 
"The bigger the better, whether that is dwelling size, land size or even the view - if you’re after high end property in Tamworth they are all a must have," the valuation firm said.
"In the new market, we saw <a href="https://www.realestate.com.au/sold/property-house-nsw-calala-130096302" target="_blank">66 Campbell Road, Calala</a> (pictured below) sell for $780,000." 
This property is a 2012 built home of exceptional quality.
It was the improvements that pushed the property up the price ladder with an in-ground pool, workshop, granny flat and to top it all off views over the local farmland while still being an easy 650 metre walk to the local shopping centre.
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"For those who like a bit of character in their home, East Tamworth is the place to look with <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-130096670" target="_blank">109 White Street </a>(pictured below) recently selling for $920,000.
"Now what you get for this type of money is an exceptionally well maintained and renovated circa 1940 double brick home with incredible views over the city of Tamworth all nestled in manicured lawns to make the most of those summer days and the view. All of this and to be less than 1.5 kilometres from the CBD! What a home!" the valuation firm commented. 
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Last but certainly not least is the lifestyle market.
"What we mean by lifestyle is any property from one hectare up to ten hectares where you have room to move and space to run a horse, motorbike or just enjoy not having neighbours too close," the valuation firm said. 
"So once you’ve chosen this route, you then need to decide whether you go new or old, as the lifestyle market offers you a range of options.
"If you went new, then <a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-nsw-tamworth-130902114" target="_blank">4 Horseshoe Place, Moore Creek </a>(pictured below) sold for $820,000, which would have given you a four-year-old house with a whopping 319 square metres of living of the utmost quality throughout." 
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Add to this the 2.31 hectares of space and the large workshop and the home is ready to go.
The downside of new however is the lack of established gardens and ancillary improvements.
This is where 939 Daruka Road at $790,000 steps in, with its 2.03 hectares of landscaped gardens, in-ground pool and exceptional shedding.
"All the hard work is done with nothing to do but sit back and relax," the valuation firm said. 
"Whatever your choice, the high-end of the Tamworth market will have a property to suit your needs with a number of options to ensure that your home ticks all of your boxes." 
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What can investors find in Tamworth's high end market? HTW residential 

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A historic homestead in Tamworth, known as Glenholme, has been listed for sale.
The property, at 143 O’Briens Lane, comprises of 85 hectares and features a Federation homestead with four bedrooms, and two bathrooms.
The Glenholme homestead was built in 1906, an features 11 foot ceilings, pressed metal ceilings, ornate cornices, a spacious kitchen, and gardens with views across the Peel Valley.
It also has a two bedroom cottage (currently leased for $250 per week), a concrete floored workshop, aircraft hangar with power, steel cattle yards with all weather access, accommodation for four cars at the main homestead, and new fencing.
Water is supplied to the property through various sources including 394ML water licence, Tamworth Town Water Supply, two spring fed dams, and approximately 1.5km frontage to Peel River
It was originally owned by the Australian Agricultural Company (AACo) as part of their land holdings between Nundle and Attunga, on the western banks of the Peel River, near Tamworth.
It was sold by the Peel River Land and Mineral Co (a subsidiary of the AACo) in 1905 at auction, representing the first time the property had changed hands since settlement. It was acquired by the Hoban family who went on to build the homestead in 1906.
 “Glenholme is an opportunity that is very hard to match. The Federation homestead is set in an idyllic garden setting, complemented by 85.43 hectares of country ranging from alluvial river flats to open grazing farming land and secure water. This makes Glenholme a very unique opportunity, the perfect lifestyle property,” said Ray White Tamworth agent Riley Gibson.
“It is an opportunity that is very hard to match. The Federation homestead is set in an idyllic garden setting, complemented by 85.43 hectares of country ranging from alluvial river flats to open grazing farming land and secure water. This makes Glenholme a very unique opportunity, the perfect lifestyle property.”
Speaking on behalf of her siblings, who own the property, Kate Kelleher of Newcastle said it was the best place to grow up.
“Hands down, it was simply the best place in the world to spend your childhood, but now it is time for a new family to make it their home and treasure Glenholme as we have.”
Speaking on behalf of her siblings, Kate Kelleher of Newcastle said it was the best place to grow up.
“Hands down, it was simply the best place in the world to spend your childhood, but now it is time for a new family to make it their home and treasure Glenholme as we have.”
The Tamworth region covers a diverse economy fuelled by a growing population of over 62,000 residents.
The property goes to auction on December 12.
 
 
 
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Glenholme, Tamworth, comes onto the market 

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For those chasing income rather than growth, Tamworth offers a range of options all with attractive returns, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"Whether it be single residential or a unit block, there is something for all investors. Tamworth sees all types of investors and no particular strategy (growth versus yield) dominates," the valuation firm said. 
"To begin with, let’s take a look at single residential investments. The average return throughout Tamworth sits around the 5% mark (say 4.5% to 6%) for most single residential dwellings.
"Now, while this is certainly a better yield than that found in the larger cities, it is still not amazing. The area we find attracts yield investors is that of West Tamworth, in particular Coledale." 
This area has a lot of housing commission and is not a desirable location for owner occupiers, however with sub-$200,000 buy in and returns north of 8%, it is certainly attractive for investors.
A recent sale of <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-131112554" target="_blank">47 Cossa Street</a> (pictured below) at $130,000 showed a gross return of 9.6% with a tenant in place at $240 per week.
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"If single residential or properties in undesirable locations isn’t your cup of tea and you prefer multiple-occupancy properties than do not stress, Tamworth has that covered as well," the valuation firm added. 
Duplexes and triplexes typically see gross returns of 6% to 8% depending on the location, with those in the more desirable areas of East and North Tamworth falling towards the lower end.
The report suggests the benefit of a multiple occupancy property is less risk with less chance of all units being empty as well as higher capital growth than the properties mentioned previously.
<a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-nsw-tamworth-129465162" target="_blank">22 Charles Coxen Close, Oxley Vale</a> (pictured below), recently sold for $429,000 with an assessed weekly return of $560 or an annual gross return of 6.8%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/16/tamworth%202.jpg" alt="">
"For the last style of investment property we check out unit blocks (four or more units on one title)," the valuation firm added. 
While these properties are bought and sold less frequently, they certainly have a place within the market.
The returns for unit blocks are not dissimilar to those of duplexes or triplexes, with investors expecting 6% plus returns.
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-tamworth-129881678" target="_blank">100-102 Belmore Street, West Tamworth</a> (pictured below) which consists of a four unit building and a separate three-bedroom dwelling sold for $1.090 million earlier this year.
"With a gross return of $68,120 or 6.2% and the potential to subdivide or build more units, this was an attractive buy for any investor with the cash," the valuation firm commented. 
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