<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Western Australia

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House prices are soaring in comparison to incomes, making life difficult for many and threatening to undermine national economic performance. Western Australia has devised an innovative policy solution.
Using a shared equity model, the Shared Home Ownership scheme allows low-earning prospective homeowners who meet certain criteria to purchase a property by sharing up to 30% of the capital cost with the Department of Housing and borrow the rest with a SharedStart loan through state mortgage lender KeyStart Home Loans.
The loan is directly linked to a major construction expressions of interest project that means the department is able to procure newly built, affordable dwellings in bulk from the market at discounted rates. The discount to market prices gained by the department become its equity share in the portfolio of properties.
In recognition of its achievements, the Department of Housing won the overall award at the 2014 WA Premier’s Awards for Public Sector Excellence and the “Developing the Economy” award for the scheme.
Perhaps unsurprisingly given Australians’ obsession with home ownership, <a href="https://www.ahuri.edu.au/publications/projects/p70394" target="_blank">previous research conducted</a> with potential purchasers of shared equity homes showed focus group participants had two primary motivations that would impact on their interest in such schemes: wanting the security of having a place of their own on the one hand, and desiring asset accumulation on the other.
So unlike other shared ownership models where the government retains a permanent interest in the property, stunting the resident’s opportunities for wealth formation but ensuring long-term affordability is maintained, WA’s Shared Home Ownership scheme encourages the resident to eventually buy out the department’s share, offering a path to full home ownership.
Interest rates are set higher than the lowest variable market rate so that, while repayments will be lower for the period that the homebuyer owns only 70-80% of the property, they will be incentivised to refinance with a private institution once they buy out the department’s share.
So far the program has helped deliver home ownership to over 700 low-income households, many of whom would not have been able to do so otherwise. Though such a program cannot be targeted at the lowest socio-economic groups, as it still relies on a regular income to pay off a mortgage, it lowers barriers to entry for those making below-median incomes.
The program was developed “in response to an increased demand for affordable housing as rents became unaffordable in Western Australia”, says Adrian Warner, acting director of strategy and policy at the Department of Housing.
“In the March quarter of 2014, the median rent reached $460 in Perth, while the median house price increased to $540,000, up from $525,000 in the previous quarter,” he said.
<img class="aligncenter size-full wp-image-22441" src="https://www.themandarin.com.au/wp-content/uploads/2015/02/graph.png" alt="graph" width="504" height="405">
The program has been praised for its benefits to prospective purchasers, government and the wider community, he said:
<ul>
<li>Purchasers only need to borrow 70-80% of the property value;</li>
<li>The equity component is not dependent on a government grant or debt;</li>
<li>The supply of entry-level housing is increased;</li>
<li>It supports local industry and creates value for the economy — over $650 million in economic activity to date;</li>
<li>First home buyers require only a 2% or $2000 deposit;</li>
<li>No lender’s mortgage insurance or monthly account keeping fees.</li>
</ul>
According to figures provided by the Department of Housing, to date, SharedStart has delivered:
<ul>
<li>$149 million of direct construction activity;</li>
<li>$112 million of induced activity by suppliers;</li>
<li>1491 jobs supported;</li>
<li>722 households into home ownership;</li>
<li>Total economic benefit to the state of $465 million.</li>
</ul>
{qtube vid:=9w3-JRBmeis}
Return for households and government
A <a href="https://www.ahuri.edu.au/publications/projects/syn91" target="_blank">report by the Australian Housing and Urban Research Institute</a> in partnership with PricewaterhouseCoopers found the program was not only achieving its intended outcomes, but had generated significant returns for households, government and industry. AHURI found that the department’s practice of acquiring new homes had helped increase housing supply:
“The shared equity EOI initiative increased the overall supply of low-cost dwellings through its EOI procurement process. This distinguishes the EOI initiative from shared equity schemes that are linked to existing dwellings and therefore do not achieve an increase in the overall supply of dwellings …
“There was agreement amongst all stakeholders interviewed that the shared equity EOI initiative has been highly effective in increasing the supply of lower-cost housing. For example, a peak body representative described the effectiveness in relation to increasing lower-cost housing supply as ‘outstanding’ and a senior Keystart representative commented that the scheme has been highly effective in terms of providing low-cost properties, which were under $300,000 in several circumstances.
Resident satisfaction with housing affordability was very high:
“… the majority of respondents (87.4%) agreed or strongly agreed that their mortgage payments were affordable; and the majority of respondents (74.9%) agreed or strongly agreed that their home was affordable to run (e.g. in terms of utility bills).”
And the program has done well helping lower income people move into their own housing:
“The scheme was successful in providing home ownership opportunities to members of the targeted client groups. This included: eight public housing tenants who moved into home ownership via the shared equity EOI scheme; 188 survey respondents who were first home owners and 198 survey respondents who reported that they would never have been able to buy a home from the private market without the shared equity EOI scheme; six survey respondents who reported having a disability; and nine respondents who reported living with a person with a disability; 58 survey respondents who were single home owners with one child or more; and 42 survey respondents who were key workers [nurse, teacher, police etc].”
The program has encouraged more interest among developers for building one- and two-bedroom housing, something traditionally seen as more risky.
The report found that the typical expectation of housing assistance is that it is a form of subsidy to households that generates significant costs to government. “Instead,” said Warner, “this form of assistance makes a sustained, substantial difference to the financial wellbeing of lower-income households whilst also delivering a positive rate of return for government. Through this process, value has been created for government in the form of embedded equity stock.
“These initial equity shares had an estimated value of $58 million by September 2013 for 722 properties ($80,729 per property). These equity shares were created without capital expenditure by the department.
“Due to the nature of the SharedStart scheme, as house prices increase so will the value of equity shares held by the department. Additionally, the scheme ensures that the portfolio maintains a strong asset base as government sells down other state assets.”
The scheme is part of the government’s Affordable Housing Strategy 2010-2020, which sets a target of at least 20,000 new affordable homes by 2020.
“The government passed the halfway mark on its target just three years into the strategy,” said Warner. “Over 17,000 new affordable housing opportunities have been created since January 2010, on schedule to exceed the target of 20,000 by 2020.”
<a href="https://www.ahuri.edu.au/publications/projects/p80088">Research from 2003 showed</a> shared equity to be a more effective policy option than the First Home Owners Grant at assisting low-income earners into housing. According to modelling, shared equity would have a greater impact on home ownership rates, is more likely to be taken up by lower income households, and is less likely to simply bring forward home purchase decisions.
This article first appeared on <a href="https://www.themandarin.com.au/" target="_blank">The Mandarin</a>.
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po-LsXgBTHBmX

How WA is tackling the housing affordability crisis

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

Port Hedland's price plummet: Can it recover?

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

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The multi-national eight-month investigation by WA's major fraud squad, Australian Federal Police and authorities in South Africa and Nigeria has resulted in a year's jail for the convicted mastermind.
Ntuen Promise Ekenmini tried to sell a $780,000 home in the Perth suburb of Falcon using forged documents.
The Nigerian court heard the attempted fraud began when after a property manager of a Mandurah real estate agent was contacted in December 2012 by a man claiming to be the owner of a home managed by the agency.
He requested property documents, which were sent through by the property managers and contact details changed.
He used a Yahoo email address in the name of one of the real owners, who was a Johannesburg resident, and requested that all future correspondence be forwarded to this new email address and all phone contact to be made through a new mobile phone number.
The agency then received a request to sell the property and a sales agreement with false signatures was sent, along with copies of fake passports of the two owners and forged documents purporting to be from the Australian High Commission in Pretoria confirming their identity.
The agency staff became suspicious, WA's fraud squad was contacted and they pretended to go ahead with the sale to try to identify the fraudsters.
"It had generally been thought that people attempting to perpetrate frauds from Nigeria were beyond the reach of the law," Consumer Protection assistant commissioner Gary Newcombe said.
"This prosecution shows that, while difficult, prosecution is not impossible.
"The imprisonment of Mr Ekenmini should send a strong message to other potential fraudsters in Nigeria that they are not beyond the law."
Detective Senior Sergeant Dom Blackshaw of the Major Fraud Squad (WA Police) noted in 2013 the arrest represented a major breakthrough in the investigation of real estate fraud in Western Australia where there were two successful and five attempted frauds reported over the past five years.
“Six of the seven cases involved owners who live in South Africa, have investment properties in Perth which are rented and have had their identities stolen. There is now clear evidence of a link between criminals in South Africa and Nigeria," detective Senior Sergeant Dom Blackshaw said.
The first successful property fraud in Western Australia was reported in September 2010 when home owner Roger Mildenhall, based in South Africa, discovered his investment home in Karrinyup, Perth had been sold for A$485,000 in August 2010 without his knowledge or consent by the agent who was managing the property on his behalf.
In April 2011, a home in Ballajura, another suburb of Perth, owned by a couple who were living in Nigeria at the time, was sold for $410,000 allegedly by Nigerian fraudsters without the knowledge or permission of the real owners. The fraudulent sale was not reported until August 2011 when the owners returned to Perth wanting to inspect the property.
In both these cases the funds were transferred to bank accounts in China.
In November 2011, the Codes of Conduct for WA real estate agents and sales representatives and settlement agents (conveyancers) were strengthened to incorporate strict identity verification guidelines for all transactions, particularly involving overseas owners.
The Western Australian government’s land titles office, Landgate, has also put in place strict fraud prevention measures.
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jchancellor-FAypfDUnLy

Jail for Nigerian mastermind behind 2012 Perth property fraud

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According to the chief executive of real estate agency Raine &amp; Horne, a drop in interest rates would likely boost the performance of Perth's housing market.
In the agency's end of 2014 wrap, Angus Raine said: "The Perth market is highly correlated to the commodities sector, so any assistance from the Reserve Bank will help underpin real estate activity in 2015."
Raine &amp; Horne Rockingham Beach principal Paul Curran said the prospect of a rate change would particularly affect the south-western suburbs.
"Interest rate cuts will always make a difference in first home owner belt suburbs such as Rockingham, Safety Bay, Baldivis and Warnbro, where it's possible to secure a four bedroom, two bathroom home for between $380,000 and $450,000," said Curran.
In the city's northern region, the Rain &amp; Horne North Perth Principal Larry Gallagher said exposure to commodity prices has weakened conditions in the investment property market.
"However, there is cause for optimism with the falling Australian dollar sure to help attract more foreign interest in the Perth real estate market," Gallagher said.
"The falling dollar might also keep more Australians at home this Christmas holiday season, with Western Australia sure to be a major beneficiary. A spike in tourism numbers often translates to more interstate investors buying Perth real estate."
Meanwhile, the agency claims increased calls to review negative gearing policy have impacted interest in the investor-dominated Mandurah market. Petter Vetten, principal at Raine &amp; Horne Mandurah, called "ongoing attacks on negative gearing" "far from helpful".
"The Mandurah market was going gangbusters up until about three weeks ago when the calls for the government to review negative gearing hit a crescendo," said Vetten.
"Investor enquiries have since hit the wall following last week's release of the Financial System Inquiry Report, which recommended reducing the benefits of negative gearing."
However, he believes a potential rate cut could encourage more first time bud
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Potential rate cut will boost commodity-driven Perth market: Raine & Horne

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New reforms have been introduced to the Western Australian Parliament regarding landowners and compensation when public works are undertaken on their property by the state government.
The Land Acquisition Legislation Amendment (Compensation) Bill 2014 was introduced to parliament yesterday.
The bill aims to reinforce private property rights when essential services need work, for instance power lines, and looks at the full impact of the land being used,  explained Premier Colin Barnett.
“The legislation will ensure the property rights of landholders - including pastoral leaseholders - are taken into account when Government decisions are made, and that those decisions are fair and transparent,” said Barnett.
“It will expressly require just compensation to be paid in cases where an interest in land is acquired for public works where there is loss of amenity, value of enjoyment, or changes in the aesthetic environment of land\,” he said.
He also noted that the Bill encourages utilities to use land already government-owned.
“Costs that are currently imposed on landholders will be appropriately transferred to the government authority undertaking the work,” he said.
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jduke-EHk3XBmHkn

Reforms to clarify WA private property rights introduced to Parliament

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The Western Australian Planning Commission has announced that they are making changes to the planning system, aiming to boost housing affordability.
The changes follow last year’s Planning Provisions for Affordable Housing Discussion Paper and have now become part of the Affordable Housing Strategy, which looks to bring 20,000 new affordable housing options by 2020.
Western Australian Planning Commission chairperson Eric Lumsden said that as the state’s population grows, the emphasis on affordable housing would be an increasingly important priority.
“Housing affordability is a complex area, which is why we are adopting a staged approach that encourages the use of incentives in the first instance,” he said.
The voluntary incentives may be planning concessions that reduce costs or that may improve the outcomes for both developers and buyers.
 “The WAPC will assess the effectiveness of incentives and, if it proves necessary, will in the longer term investigate further potential policy approaches to deliver affordable housing supply,” said Lumsden.
These changes have been welcomed by the Property Council of Australia, who has been encouraging the government to consider voluntary incentives to increase the supply of affordable housing.
Executive director of the Property Council, Joe Lenzo, said that incentives are the most effective long-term strategy for delivering affordable housing.
“Incentives that reduce costs and improve development outcomes will enable more affordable living options to be provided for the community,” said Lenzo.
“The incentives need to be designed intelligently so that they increase a project’s feasibility and do not impact on its commercial viability, encouraging developers to embrace this opportunity.”
Lenzo said that tailoring the incentives to prioritise housing diversity and supply is the key to providing more options.
“Affordability is more than just the sticker price. It is all well and good to throw up a cheap house in the middle of nowhere, but it will only cost that resident more in utility payments, access and cost of transport and proximity to employment.”
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WA's affordability housing boost given industry thumbs up

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An interesting picture emerges from the list of top yielding suburbs across Western Australia and Queensland.
With a total of 33 suburbs at 7.00% or above, or 17 in Queensland and 16 in Western Australia according to RP Data, Property Observer decided to look at which areas are influenced by mining.
Using a combination of 2011 Census Data employment statistics, and local government details to notify when a mine is nearby, each town in the list below has been tagged with ‘resources influence’ if mining or associated industries affect the area in a significant way. That’s not to say, of course, that mining is the only driver in some of these towns, nor that those without this tag have not been affected at all by the mining boom.
In total, 23 of the locations on our list were given a ‘resources influence’ tag. Their rental yields range from 11.7% to 7.00%.
Interestingly, some of the much discussed and atypical mining towns did not make the top yielding house list. Moranbah’s average gross rental yield for a house sits at 6.30%. However, when yields for units area strong 8.32%.
23 suburbs emerge with unit yields recorded at or above 7.00%, some doubling up on the list below. For instance, South Hedland units recorded 7.77% average gross rental yield.
One mining area that also managed to get onto the unit list was Queensland’s North Mackay, with units offering a 7.25% yield. Western Australia’s Kalgoorlie also made the list, offering 7.00%.
With mining town rental yields in the past pushing into low double figures, it's interesting to note that just two of those on this list surpassed the 10% mark. When looking at units just one suburb managed to attain this same strength, with the Sunshine Coast's Peregian Springs boasting a 10.53% gross rental yield.
Click over the page to see the full list of suburbs.
<hr class="system-pagebreak">
These statistics are based on the latest available house information from RP Data:
<ul>
<li><a href="/news">Miles</a>, Qld</li>
</ul>
11.7%
Resources influence
<ul>
<li><a href="/news">Mount Morgan</a>, Qld</li>
</ul>
10.35%
Resources influence
<ul>
<li><a href="/news">Kambalda West</a>, WA</li>
</ul>
9.84%
Resources influence
<ul>
<li><a href="/news">Port Hedland</a>, WA</li>
</ul>
9.00%
Resources influence
<ul>
<li><a href="/news">South Hedland</a>, WA</li>
</ul>
8.89%
Resources influence
<ul>
<li><a href="/news">Charleville</a>, Qld</li>
</ul>
8.79%
<ul>
<li><a href="/news">Dysart</a>, Qld</li>
</ul>
8.67%
Resources influence
<ul>
<li><a href="/news">Cloncurry</a>, Qld</li>
</ul>
8.45%
<ul>
<li><a href="/news">Nickol</a>, WA</li>
</ul>
8.40%
Resources influence
<ul>
<li><a href="/news">Newman</a>, WA</li>
</ul>
8.32%
Resources influence
<ul>
<li><a href="/news">Depot Hill</a>, Qld</li>
</ul>
8.25%
<ul>
<li><a href="/news">Soldiers Hill</a>, Qld</li>
</ul>
8.14%
Resources influence
<ul>
<li><a href="/news">Clermont</a>, Qld</li>
</ul>
8.13%
Resources influence
<ul>
<li><a href="/news">Yarloop</a>, WA</li>
</ul>
8.13%
<ul>
<li><a href="/news">South Boulder</a>, WA</li>
</ul>
8.03%
Resources influence
<ul>
<li><a href="/news">Pegs Creek</a>, WA</li>
</ul>
8.00%
Resources influence
<ul>
<li><a href="/news">Sunset</a>, Qld</li>
</ul>
7.73%
Resources influence
<ul>
<li><a href="/news">Mornington</a>, Qld</li>
</ul>
7.72%
Resources influence
<ul>
<li><a href="/news">Baynton</a>, WA</li>
</ul>
7.70%
Resources influence
<ul>
<li><a href="/news">Coolgardie</a>, WA</li>
</ul>
7.65%
Resources influence
<ul>
<li><a href="/news">Dinmore</a>, Qld</li>
</ul>
7.58%
<ul>
<li><a href="/news">Victory Heights</a>, WA</li>
</ul>
7.55%
<ul>
<li><a href="/news">Kambalda East</a>, WA</li>
</ul>
7.48%
Resources influence
<ul>
<li><a href="/news">Parkside</a>, Qld</li>
</ul>
7.31%
Resources influence
<ul>
<li><a href="/news">Healy</a>, Qld</li>
</ul>
7.23%
Resources influence
<ul>
<li><a href="/news">Jandowae</a>, Qld</li>
</ul>
7.21%
<ul>
<li><a href="/news">Derby</a>, WA</li>
</ul>
7.18%
Resources influence
<ul>
<li><a href="/news">Murgon</a>, Qld</li>
</ul>
7.17%
<ul>
<li><a href="/news">Roma</a>, Qld</li>
</ul>
7.09%
Resources influence
<ul>
<li><a href="/news">Bulgarra</a>, WA</li>
</ul>
7.06%
Resources influence
<ul>
<li><a href="/news">Bundaberg South</a>, Qld</li>
</ul>
7.03%
<a href="/news">Narrogin</a>, WA
7.02
<ul>
<li><a href="/news">Brockman</a>, WA</li>
</ul>
7.00%
Resources influence
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Mining a clear winner for top yielding Queensland, Western Australia areas

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The latest research data confirms our tip, at the start of the year, that Busselton was likely to be a market leader in regional Western Australia.
The Real Estate Institute of WA says the Busselton area has been the state’s best-performing property market over the past 12 months, with almost 500 house sales which lifted the median price by around $25,000 to $450,000.
This is generally in line with price data from Australian Property Monitors, which records double-digit growth in median house prices in several of the suburbs of the City of Busselton, including <a href="/news">Geographe</a>, <a href="/news">Dunsborough</a> and <a href="/news">Quindalup</a>.
Busselton caught our eye because we saw it as part of a national trend. Coastal centres traditionally based on tourism and retirement are diversifying, with greater spending on infrastructure. Cairns and the Sunshine Coast in Queensland and Port Macquarie in New South Wales are other examples.
Current infrastructure events impacting Busselton include a $120 million hospital upgrade, an $85 million airport upgrade and $45 million in spending on a Busselton Foreshore master plan.
Chairman of REIWA’s Busselton branch, Joe White, says Busselton is no longer seen as just a “seaside holiday town”. It has experienced growth with young families and FIFO workers choosing to stay “rather than use the market as a stepping stone”.
He says: “The volumes and consistency of non-seasonal sales show the market is alive and building activity is high as the population grows. It’s cheaper to build a new home here than in Perth and the infrastructure gets better all the time, with schools and shops all within proximity to a great beachfront with a village atmosphere.
“The Forest Highway means Perth is now half an hour closer and people don’t mind the two and a half hour drive up to the city on occasions for cultural or sporting events because it’s a small price to pay to enjoy Busselton’s coastal lifestyle.”
It says a lot of about current events in the WA economy that the state’s regional markets showing price growth are all south of Perth, a long way from the key resources areas. Other locations to record growth in the past 12 months, according to the REIWA, are Mandurah, Bunbury and Albany.
At the other end of the scale, markets in significant decline include Karratha and Port Hedland, both places that have experienced exponential price and rental growth in the past, thanks to their links to the resources sector.
“Karratha suffered the biggest blow, dropping 12.2% and pulling its median price to $630,000,” the REIWA said.
Karratha prices are now 40% below the levels of early 2012. Rents have also fallen sharply, so that typical yields are now 6-7%, compared to 10-12% in more buoyant times. In better times, the Karratha market was turning over 50 to 60 properties per quarter, but currently sales levels are around 25 per quarter.
Vacancies went as high as 8%, but have recently declined to around 4%, so perhaps the worst is over for Karratha.
REIWA’s Karratha branch chairman, Richard Naulls, says the market has stabilised since July. With investors no longer interested, owner occupiers are now the mainstay of the market.
“Around 90% of buyers this year have been owner-occupiers, partly due to investors lacking confidence due to the significant reduction in rents, but mainly because housing has become much more affordable,” he says. “With a high number of properties available under $500,000 this stock is moving.”
Naulls says 2015 is likely to be stable, with prices and turnover at current levels.
“If any significant construction or project announcements are made during 2015 there will be a slight increase in prices - but due to the high number of properties for sale and rent, as well as plenty of land, I can’t see prices or rents reaching the previous peaks,” he says.
The REIWA reports a 7.6% decrease in the median price for Port Hedland, although Australian Property Monitors reports a 26% reduction. Both sources, however, record a median price around $800,000. Long gone are the days when the median was about $1.2 million.
Also long gone are the double-digit rental returns. More typical today is 6-7%. Vacancies are above 6% and have been hovering around those levels for almost two years.
The hard reality for Port Hedland is that prices are still too high. Places like Busselton, at half the price, offer far better value and growth prospects.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
Picture courtesy of  <a href="https://commons.wikimedia.org/wiki/User:Gobeirne" target="_blank" title="User:Gobeirne">Greg O'Beirne</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>. 
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terryryder-YECXbqmri2

Busselton the market leader in regional Western Australia

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Poor infrastructure provisioning is holding back Western Australia's growth, according to a new report from the Property Council of Australia (PCA).
The report, Mind the Gap: The Costs of WA’s Infrastructure Provisioning Framework, found that public investment in the state’s infrastructure was an average of 1.5% of gross state product (GSP), below the international norm of 3.8%. This leaves a $59.2 billion shortfall, according to the report.
“This research demonstrates that WA needs an independent infrastructure body that takes responsibility for its planning, prioritisation and delivery,” said PCA’s executive director Joe Lenzo.
“Poor infrastructure provisioning adds unnecessary risk to projects, making it difficult to secure debt financing and attract capital.”
Lenzo said that about 10% of property development projects are delayed due to poor infrastructure provisions, which add risk to the development projects.
He said that if the state is to meet global benchmarks, $22.1 billion in infrastructure expenditure per annum is necessary.
“Business-as-usual is not an option if we want to provide the infrastructure necessary to support WA’s growth,” he said.
“Implementing a strong infrastructure provisioning process will ensure that scarce infrastructure dollars are directed where they are most needed and where the best value for money can be realised.”
 
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