New South Wales

Developer GWH has successfully completed stage two of its sold out Newcastle apartment project, SKY Residences.

The nine-level tower, which sits alongside the 19-level stage one tower which was completed in late 2021, comprises 73 apartments.&nbsp;All 189 apartments in the project havec all sold out.

GWH Managing Director Jonathan Craig says the project represents a significant milestone for the local developers.

[smartcode_project:default project_id=8430 project_image_fid=28045]

&ldquo;It has been incredible to watch our plans for this site come to life over the last few years&rdquo;, Craig said.

&ldquo;SKY Residences is our largest residential project undertaken to date. To successfully deliver such an iconic new development to the Newcastle skyline truly is a phenomenal achievement and one we are all immensely proud of&rdquo;.

Construction of Sky Residences began in October 2019.

[smartcode_project:default project_id=8430 project_image_fid=201697]

SKY includes an array of resident-only facilities including a pool, gym and the rooftop SKY Lounge, which is an indoor and outdoor entertaining space, providing panoramic views over the CBD and beyond.

&ldquo;As Newcastle locals, we have a deep understanding of the lifestyle aspects Novocastrians desire to amplify the incredible living experience this city provides,&quot; Craig added.

&quot;The feedback from our stage one purchasers has been fantastic and I can&rsquo;t wait for stage two purchasers to experience all that this iconic, new destination has to offer.&quot;

[smartcode_project:default project_id=8430 project_image_fid=201695]

GWH has been a steadfast presence across the Hunter region for over 25 years, backed by a strong track record of delivering commercial, industrial and residential projects within the area, including current works such as Newcastle&rsquo;s, ONE Apartments and Charlestown&rsquo;s Macquarie Tower, both set to start&nbsp;construction&nbsp;by the end of the year.

[smartcode_project_cta: project_id=8430]

Consisting of 73 apartments, Sky Residences Stage Two sores nine-stories into the air, alongside the 19-storey, 66-metre Stage One tower, which was completed in late 2021.



alisonwarters@gmail.com

GWH complete stage two of Newcastle's SKY Residences apartment development

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New South Wales and Victoria now account for a historically high proportion of national mortgage demand which continues to drive dwelling values much higher across these two cities compared with other regions.
The current housing market growth phase has really been all about Sydney and Melbourne.
When you look at dwelling value growth, increases have been substantially higher in Sydney and Melbourne than in all other capital cities.
At the same time, demand for mortgages has surged across NSW and Vic (both of which are proxies for Sydney and Melbourne) while it has barely increased across the remaining states and territories.
The first chart highlights the change in capital city dwelling values over the current growth phase.
The growth phase broadly began in June 2012 and over the period, only Sydney and Melbourne have recorded value rises greater than 21%.
The rise in values has been supported by low interest rates and availability of mortgage finance however, other factors such as localised economic performance, population growth and foreign demand have driven the much stronger growth in Sydney and Melbourne than across the other capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.06%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.06%20pm.jpg" alt="">
Looking at mortgage finance across the states and territories, in December 2016 the value of mortgage lending across each state and territory was recorded at: $14.5 billion in NSW, $9.6 billion in Vic, $5.1 billion in Qld, $1.6 billion in SA, $2.7 billion in WA, $0.3 billion in Tas, $0.2 billion in NT and $0.7 billion in ACT.
Over the month, NSW (41.8%) and Vic (27.7%) accounted for a combined 69.5% of the value of all housing finance commitments which was an historic high.
In June 2012 when the current growth phase commenced, 33.6% of housing finance commitments were in NSW and 27.1% were in Vic.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.19%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.19%20pm.jpg" alt="">
The value of housing finance commitments for owner occupier housing in December 2016 across the states and territories were recorded at: $7.7 billion in NSW, $6.0 billion in Vic, $3.5 billion in Qld, $1.1 billion in SA, $2.0 billion in WA, $0.3 billion in Tas, $0.1 billion NT and $0.4 billion in ACT.
Since the current value growth phase commenced in June 2012, monthly mortgage lending to owner occupiers has increased from $4.3 billion in NSW and $3.9 billion in Vic.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.29%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.29%20pm.jpg" alt="">
In December 2016, the value of mortgage lending to investors across the states and territories was recorded at: $6.8 billion in NSW, $3.7 billion in Vic, $1.7 billion in Qld, $0.5 billion in SA, $0.7 billion in WA, $0.1 billion in Tas, $0.1 billion in NT and $0.2 billion in ACT.
More than three quarters (76.3%) of investor mortgage finance nationally in December 2016 was in NSW (49.6%) or Vic (26.7%).
While the proportion of lending to investors has previously been higher in each state, combined they make up the largest share on record.
At the beginning of the current growth phase, 37.3% of national investor finance commitments were in NSW and 25.1% was in NSW.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.42%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%206.53.42%20pm.jpg" alt="">
The data shows just how concentrated mortgage demand nationally is currently in NSW and Vic.
With the demand focused so much on those two states, it’s no wonder values in Sydney and Melbourne have increased so much more than in the other capital cities.
While steps have been made to cool mortgage demand, particularly from investors in Sydney and Melbourne, the data points to the fact that demand remains unquestionably strong.
With interest rates remaining at close to historic lows, it is clear that further changes will be required in order to slow mortgage demand and dampen the increases in dwelling values being experienced in Sydney and Melbourne.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

Mortgage demand has surged in New South Wales and Victoria: Cameron Kusher

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Frasers Property’s new $2.3 billion dollar beach-side community Shell Cove, is one step closer to reality with the launch of an Expressions of Interest campaign seeking a best-in-class publican to operate its focal point harbourside social tavern.

Located adjacent to the new Shell Cove Harbour and 270-berth marina, the 1,086 sqm tavern will extend over the new public boardwalk and offer unobstructed views of the Shell Cove harbour and surrounding scenery.

The Tavern is intended to combine its stunning setting with busy local patronage to create a new destination in the same spirit as iconic Sydney coastal taverns like The Pavilion at Coogee, The Clovelly Hotel, and Icebergs at Bondi.

Additionally, it will form an integral part of this new community, offering both residents and visitors the best in Australian hospitality.

The Shell Cove precinct is quickly becoming a new focal point within the Shellharbour area, which is expecting significant growth of 23% in population to 2036.

Fitting with the community-focused nature of the precinct, the Tavern has been designed to offer a full variety of social spaces for all ages.

It will include a family bistro area, informal indoor and outdoor seating spaces, private dining areas, open plan kitchen with fireplace seating, as well as a sports bar with TAB and gaming room.

The Tavern is part of the wider social and recreational heart of the Shell Cove precinct, known as The Waterside. Situated around the harbour and marina, The Waterside offers specialty shops, marina-edge restaurants, a hotel, children’s beach, water play areas, library, community centre, retail precinct, as well as hosting the Tavern.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/180115fra0826thesailsapartmentss170marinar04finalweb.jpg" rel="gallery-all" title="A visualisation of Shell Cove's under construction &quot;The Waterfront&quot; town centre. "><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/180115fra0826thesailsapartmentss170marinar04finalweb.jpg?itok=nDhsdDs2" title="A visualisation of Shell Cove's under construction &quot;The Waterfront&quot; town centre. " width="580"></a>

<figcaption>A visualisation of Shell Cove's under construction "The Waterfront" town centre. Image: Frasers Property</figcaption></figure>The precinct fits Shellharbour Council’s vision to balance the area’s significant natural beauty with the needs of a growing community.

Led by Frasers Property Australia and their rich accumulated experience operating in Australia for more than 90 years, the Shell Cove precinct continues the firm’s expertise in delivering places that foster happier, healthier and more connected communities.

Reflecting this commitment to socially successful communities, Frasers Property’s Shell Cove Development Director Glenn Colquhoun highlights the firm’s focus on creating a vibrant and connected town centre, acknowledging “a town’s tavern has always been its heartbeat - a place for resident and visitors to eat, drink and relax while enjoying their surroundings.”

He goes on to note, “Shell Cove is a family focused community and the tavern will be a place for the whole family to enjoy. It’s another piece of the truly mixed-use precinct at The Waterfront, Shell Cove that will serve locals for generations to come.”

It seems Shell Cove is set to become a major regional attraction and the Tavern is it’s social nexus. The Tavern is offered as a freehold investment and is expected to be completed by 2021.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/tavern_cgi1_eastview_005_web_1.jpg" rel="gallery-all" title="Shell Cove's social centrepiece &quot;The Tavern&quot; cantilevers over the harbour-side boardwalk, affording patrons unobstructed views of the Illawarra Coast's world-class scenery."><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/tavern_cgi1_eastview_005_web_1.jpg?itok=A7NeBg52" title="Shell Cove's social centrepiece &quot;The Tavern&quot; cantilevers over the harbour-side boardwalk, affording patrons unobstructed views of the Illawarra Coast's world-class scenery." width="580"></a>

<figcaption>Shell Cove's social centrepiece "The Tavern" projects over the harbour-side boardwalk, affording patrons unobstructed views of the Illawarra Coast's world-class scenery. Image: Frasers Property</figcaption></figure>
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ModernBradfield

Shell Cove on NSW's Illawarra Coast a step closer to reality

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EXPERT OBSERVATION
The prevalent practice of property investment firms sharing undisclosed kickbacks amongst the supply chain involved in development sales will be outlawed in NSW on 1 July this year under the Real Estate Reform being handed down by regulators in NSW. 
The conflict of interest frequently arises when a mortgage broker, accountant or financial planner receives part of the commission from the property firm, who receive their fees from the developer or seller. 
As such, this puts the broker into a position by which they are being paid on both sides of the fence. From the activities the undertake on behalf of the buyer and again from the filter down of fees from the seller. Until now this has been a grey area and there was nothing stopping this practise. 
For decades, property investment firms have been recommending off- the-plan properties to investors and receiving commissions or kickbacks from developers, and passing those on to referrers. 
Property investment firms commonly pass some of their commission on to the mortgage broker, accountant or financial planner as a reward to them for passing on the referral. This means that many brokers or financial service providers are making significant amounts of money just to refer on to a property firm, often totalling hundreds of thousands of dollars a year.
New property industry reform Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 will be in force from July this year and will prohibit this practise, unless the broker or referring partner also holds a real estate industry license. Which will be a full Diploma course as of July. 
Under the new laws, if the broker takes a referral fee from the property firm, they will have to be a licensed real estate agent and also hold a Corporation’s license under the ACT. Subsequently, every transaction that they receive a referral fee from they will be putting their license up against the transaction and taking full liability for the conduct, practises and outcome of that transaction, ever if they have little to do with the transaction, they are a party to it financially and therefore take as much risk as everyone else in the transaction.
Some well-known mortgage broking firms openly admit to receiving $5,000-$10,000 per referral in their pocket. This is effectively a conflict of interest as the buyer is a client of the brokers, but the fee that comes down from the investment firm is from the seller - the developer.
Assuming in some circumstances a broker may also hold a real estate license, under the legislation this raises issues around the ethics of receiving fees to act on the buyers’ behalf as their broker but then receiving a fee from the property firm who get their fees from the seller or developer.
So, if a referrer does hold a real estate license, and does receive a part of the sale commission, they may find themselves in breach of the ethical requirements under the act.
Anna Porter is the founder of Suburbanite. She is a property valuer, investment adviser, property market commentator and author of Whistle<a class="OWAAutoLink" href="https://suburbanite.us8.list-manage.com/track/click?u=7a39cb442b7616568d1d3fe0f&amp;id=20aa9e77e0&amp;e=342d2b93ab" target="_blank"> </a>Blower.
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jrobinson-rf4aSBido9

Common broker practise now outlawed: Anna Porter

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GUEST OBSERVATION
The previously unregulated short-term letting industry in NSW has just seen some big changes and investors are being warned to watch out. Regulations to Airbnb were going to happen eventually, but on Tuesday the wheels were finally set in motion.    The game changer that has occurred and why Airbnb now only makes sense for home owners and not investors.     Airbnb are going back to their grass roots in NSW.   Originally the platform was set up for people who wanted to rent out some spare rooms in their own home as an alternative to backpacker accommodation for travellers, thus allowing home owners to make some spare cash.   The Airbnb platform has since been exploited and has become the short-term accommodation platform for investors to maximise profits.   Without proper regulation and no barriers to entry this has resulted in many complaints from local communities and a need for government and other regulators to step in.   Regulators have stepped in and the regulations are being deemed as "the toughest laws in the world to crack down on bad behaviour” by Better Regulation Minister Matt Kean for good reason.   Many investors are left screaming “what about our returns” but I've been cautioning Airbnb investors for many years on investing in a new to market concept that has always been very unregulated.     If you're going to invest hundreds of thousands into an industry in its infancy, you need to have an appetite for risk and be prepared that it may not last long.   Investors should have assessed their numbers based on long term rentals as well and ensured they were still able to afford their investment, without a supplementary Airbnb income.   We saw so many people jump on the band wagon without really understanding the risks associated with it.   This might only be rolling out for Sydney at the moment, but it is setting a benchmark for other locations to follow. Councils like Byron Bay have been threatening tighter regulation in this sector for a while now and are also heading down this path.    The regulations follow other countries like Japan where in recent weeks only 13,800 properties were left on the platform after an estimated 68,000 properties removed almost overnight when regulatory changes came into play.    The market has seen an oversupply of property in many locations resulting in downward pressure on pricing and Airbnb hosts having to take lower fees to avoid vacancy and bigger group bookings to make up the numbers.    Don’t think that this is exclusive to Airbnb, this will impact all short-term accommodation platforms ‘like Airbnb’ but the likes of stays and <a href="http://bookings.com/">bookings.com</a>will also come under the same scrutiny.   The property market, in Airbnb hotspots will see more properties being taken from the short-term rental market and moved over to long term leases and even some investors pulling the pin altogether as a follow-on effect from the regulation.   Some investors will not want to conform with the legislation and will have to put their property on the market, as many of the properties are set up as rentals only and not in an area that the owner of the property resides.   Some property owners simply can’t adapt and will have only two options, a long-term lease with significantly lower returns, or to sell.   The policy is set to be reviewed in 12 months’ time.   This regulation really only starts to scratch the surface of some of the issues in the short term letting sector. Many property owners are renting out rooms or whole homes without consideration given to the safety of the occupants.   We see many properties that are not compliance with fire regulations, pool safety, building codes, railing heights on balcony’s, and many other safety hazards that put occupants, including families with children at risk. If you rent our a property on a long term lease, or you are a commercial hotel venture you need to be compliant. But this sector of the DIY hotel space has continued to circumvent their obligations to other peoples safety. It wont be long before this too comes into the spotlight, and so it should.
Anna Porter is a property commentator and valuer at <a href="https://suburbanite.com.au/" target="_blank">Suburbanite</a>. 
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Here's what Airbnb's whirlwind changes mean for investors - and it sucks

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The terminus station on the Sydney Metro Northwest which will open next year has been renamed to Tallawong, a word of local significance that's derived from the Dharug word 'dalawang' for apple gum tree.

The station until this point has been known as Cudgegong Road and is seeing significant amounts of new development projects proposed within the new station's environs.

As you might expect for an outer suburban station, Tallawong will have a 1,000 strong commuter car park and will also include various bus and kiss-and-ride bays as well as parking and storage for 55 bicycles.

All other station names on the Sydney Metro Northwest have been confirmed according to a NSW Government media release.

Tallawong will serve the outer growth area of <a href="https://www.urban.com.au/new-apartments/rouse-hill-nsw">Rouse Hill</a> and The Ponds and developers in the area have answered the call and invested in building significant density around the new train station.

The Urban.com.au database is showing 7 projects within walking distance of the under construction station.

Those projects collectively have a whopping 1,895 residential units at various stages of the development pipeline.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image125_2.jpg" rel="gallery-all" title="49 Terry Road, Rouse Hill"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image125_2.jpg?itok=N2UzzKHu" title="49 Terry Road, Rouse Hill" width="580"></a>

<figcaption><a href="https://www.urban.com.au/new-apartments/collection-49-terry-road-rouse-hill">49 Terry Road, Rouse Hill</a></figcaption></figure>4 of the projects with a total of 930 dwellings are currently being assessed by local councils and there are 2 projects which have been approved with 831 dwellings.  

A single project is under construction with 134 dwellings soon to be added to the local market.

We'll take a look at other new outer suburban stations on the new Sydney Metro in time, however, there is a distinct pattern: the public and private investment into the new Sydney Metro is certainly producing the goods when it comes to what should be built next to new stations.

We're currently still in build-up mode in terms of projects outside of Melbourne on the Urban.com.au database but with over 600 already present from New South Wales we expect our own numbers will be superseded fairly soon.

In light of the Great Cities research released by the Property Council of Australia, who needs offshore examples of changing the way we develop cities when the country has a live one right on our doorstep?

Lead image credit: <a href="https://www.sydneymetro.info/news">Sydney Metro</a>.
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Alastair Taylor

Terminus station on Sydney Metro Northwest renamed

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Darlinghurst design practice Cottee Parker JPRA has emerged as the successful firm behind developer Landmark Group Australia's latest Sydney apartment project.

Having entered planning during mid April, the application seeks to transform an underutilised Waterloo site into an enclave of 139 apartments. Holding an estimated development cost in excess of $43 million, the intended project consists of two mid-rise residential buildings across an expansive 4,980 square metre site.

Adjoining a mid-rise residential build recently completed by Henley Constructions, the existing low-rise commercial complex onsite would be make way for Landmark Group's development.

The site in question was offered for sale via a Colliers International campaign held during late 2017. Stage 1 Development Approval was already in place, allowing for a Total Gross Floor Area of 10,956 square metres for the site which forms part of the burgeoning Green Square Town Centre precinct.

<h2>219-231 Botany Road, Waterloo application summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image170.jpg" rel="gallery-all" title="The development's intended courtyard. Image: Cottee Parker JPRA"><img alt="" class="image-article-full-width-580px" height="281" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image170.jpg?itok=qzn__Y5B" title="The development's intended courtyard. Image: Cottee Parker JPRA" width="580"></a>

<figcaption>The development's intended courtyard. Image: Cottee Parker JPRA</figcaption></figure><ul>
<li>Site area: 4,979.8sqm with 1 frontge</li>
	<li>Part 6, part 7 storey development: 21.7m at highest point</li>
	<li>139 apartments: 51 x 1BR / 69 x 2BR / 19 x 3BR</li>
	<li>115 car parking spaces over 2 basement levels</li>
	<li>2 retail tenacies: 255sqm</li>
	<li>In excess of 800sqm of common green areas</li>
	<li>Proposed FSR 2.19</li>
	<li>Proposed GFA: 10,885sqm</li>
</ul>
A range of apartment formats are included within the proposal, ranging between 50-99 square metres. Each building can expect between 5 and 8 dwellings per floor.

At ground level an expansive garden area is situated between the proposal's respective building wings, with further deep planting and open lawn areas expected along the western boundary of the site.  A public art wall will be integrated as part of the Botany Road frontage.

For Landmark Group the Waterloo application shapes as their latest in a 20 year development history, and adds to the <a href="http://landmarkgr.com/our-projects/">numerous projects</a> the developer has undertaken in recent times.

<h2>Cottee Parker JPRA succeed</h2>

A quartet of architecture firms vied for the Botany Road site via an invited design competition; they were DKO Architecture,  WMK Architects and PBD Architects along with Cottee Parker JPRA.

The competitive design process saw Cottee Parker JPRA succeed due to their scheme which was judged to best demonstrate the ability to achieve design excellence. Cottee Parker JPRA was also the only submission "where the advice and input of a Landscape Architect was apparent in the overall resolution of the project".

The proposals which failed to make the cut varied significantly from one another. WMK Architecture's scheme presented as almost corporate in style to Botany Road, with heavy reliance upon brick finishes for internal facing facades.

PBD Architects' scheme was heavily reliant upon horizontal bands whilst DKO Architecture's was atypical in that vaulted archways were a clear design highlight to Botany Road.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image174_0.jpg" rel="gallery-all" title="WMK above, PBD and DKO's arched concept"><img alt="" class="image-article-full-width-580px" height="555" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image174_0.jpg?itok=lzSs6uJo" title="WMK above, PBD and DKO's arched concept" width="580"></a>

<figcaption>WMK above, PBD and DKO's arched concept</figcaption></figure>
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silvermb

Landmark Group aligns with Cottee Parker JPRA for its upcoming Waterloo development

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One year out from the next New South Wales election, the NSW Government has announced that Westmead will feature on the second metro line that at this early stage is having its corridor refined.

Dubbed Sydney Metro West, the aim is to add more passenger capacity between the Sydney CBD and Parramatta with intermediate stops along the line offering connection opportunities.  

Exact travel times are not yet set in stone, given the corridor planning's fluid state, but the Premier of New South Wales, Gladys Berejiklian, said Sydney Metro West will be the fastest journey between the two major centres.

<blockquote>
Sydney Metro West will become the fastest, easiest and most reliable journey between the Sydney and Parramatta CBDs, which could be as little as 20 minutes.

We have been working hand-in-hand with the community on Sydney Metro West and we have taken on board feedback to make it an even greater infrastructure project for greater Western Sydney
<cite>NSW Premier Gladys Berejiklian</cite>
</blockquote>

The Sydney Metro is an operationally-independent railway utilising driverless trainsets with its first phase ('Sydney Metro Northwest') set to enter service in 2019 between Cudgerong Road in Rouse Hill and Chatswood. 

The project's second phase ('Sydney Metro City &amp; Southwest') which involves building a new rail crossing under the harbour and new tunnels running north-south under Sydney's CBD achieved planning approval in January 2017.

The second phase of the metro line will also involve converting a portion of the existing Bankstown line for the exclusive use of new driverless metro trains.

Once both phases of are complete, the railway will be 66km in length and provide rail commuter services from Sydney's outer North West through major nodes on the northern and southern side of the harbour through to Bankstown in Sydney's south-west.

The NSW Government also announced the new Sydney Metro West will have a station either at Concord or North Strathfield in order to allow passengers to interchange between the Northern line and faster Sydney CBD or Parramatta services on the new metro line.  

The Westmead and North Strathfield/Concord statements are on top of the already announced station locations at The Bays precinct, Sydney Olympic Park and still as-yet defined stations in the Sydney CBD and at Parramatta.

Further community consultation will continue as it's expected more station locations will be announced with Camellia/Rydalmere, North Burwood/Five Dock, Kings Bay and Pyrmont mentioned as possible locations.

A map published on the project's website shows potential extensions of the second metro line both eastward and westward.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/syd_metro_west_map.jpg" rel="gallery-all" title="The scope of the first stage of Sydney Metro West - image: Sydney Metro"><img alt="" class="image-article-full-width-580px" height="297" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/syd_metro_west_map.jpg?itok=zwAJ6YAd" title="The scope of the first stage of Sydney Metro West - image: Sydney Metro" width="580"></a>

<figcaption>The scope of the first stage of Sydney Metro West - image: <a href="https://www.sydneymetro.info/west/project-overview">Sydney Metro</a></figcaption></figure>
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NSW government announces Westmead will be a stop on the new Sydney Metro West

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Regional localities in New South Wales are returning property investors with the highest gross rental yields across the state.
Figures show investors at the entry level of the market can still anticipate a gross rental yield of between 7 percent to 14 percent.
Broulee on the New South Wales south coast topped the list, with a gross rental yield of 14 percent, clearly buoyed by holiday lettings often at $1,200.
It comes with a median house price of $456,250.
There are some mining towns on the list too.
 
New South Wales highest-yield localities
<table border="0"><tbody>
<tr>
<td>Locality</td>
<td>Median Price</td>
<td>Quarterly growth</td>
<td>12-month growth</td>
<td>Weekly median advertised rent</td>
<td>Gross rental yield</td>
</tr>
<tr>
<td>Broulee</td>
<td>$456,250</td>
<td>3%</td>
<td>4%</td>
<td>$1,200</td>
<td>14%</td>
</tr>
<tr>
<td>Bawley Point</td>
<td>$562,750</td>
<td>1%</td>
<td>16%</td>
<td>$1,395</td>
<td>13%</td>
</tr>
<tr>
<td>Broken Hill</td>
<td>$106,000</td>
<td>6%</td>
<td>-4%</td>
<td>$230</td>
<td>11%</td>
</tr>
<tr>
<td>Malua Bay</td>
<td>$470,000</td>
<td>6%</td>
<td>7%</td>
<td>$1,000</td>
<td>11%</td>
</tr>
<tr>
<td>Sussex Inlet</td>
<td>$420,000</td>
<td>2%</td>
<td>14%</td>
<td>$875</td>
<td>11%</td>
</tr>
<tr>
<td>Warialda</td>
<td>$142,500</td>
<td>3%</td>
<td>-3%</td>
<td>$240</td>
<td>9%</td>
</tr>
<tr>
<td>Wellington</td>
<td>$141,000</td>
<td>-3%</td>
<td>4%</td>
<td>$228</td>
<td>8%</td>
</tr>
<tr>
<td>Tomakin</td>
<td>$409,000</td>
<td>4%</td>
<td>14%</td>
<td>$650</td>
<td>8%</td>
</tr>
<tr>
<td>South Kempsey</td>
<td>$163,750</td>
<td>1%</td>
<td>-17%</td>
<td>$260</td>
<td>8%</td>
</tr>
<tr>
<td>Tuross Head</td>
<td>$405,000</td>
<td>7%</td>
<td>17%</td>
<td>$635</td>
<td>8%</td>
</tr>
</tbody></table>
A <a href="https://www.realestate.com.au/property-house-nsw-broulee-125533490" target="_blank">three bedroom home in Broulee</a> (above) is on the market for $540,000.
It last traded for $59,000 in 1993.
A <a href="https://www.realestate.com.au/sold/property-villa-nsw-broulee-124806938" target="_blank">three bedroom</a> villa in Broulee (below) sold for $430,000 in March.
<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/2017/05/29/41A%20Train%20Street.jpg" alt="">
A <a href="https://www.realestate.com.au/property-house-nsw-broulee-420868482" target="_blank">three bedroom home</a> (below) that last sold for $357,000 in 2015 is up for lease at $380 a week, offering a five percent yield.
<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/2017/05/29/Broulle.jpg" alt="">
A three bedroom <a href="https://www.realestate.com.au/property-house-nsw-broulee-415537219" target="_blank">holiday home</a> in Broulee can rent up to $1,800 a week during peak holiday season.
It last traded for $175,000 in 2011.
For the median price at Broken Hill a two bedroom home such as the one at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-122329398" target="_blank">140 Bromide Street</a> (below) that was sold for $107,000.
<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/2016/11/24/140%20Bromide%20Street.jpg" alt="">
 
 
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j.ballantyne1990-6AQqhLzZaK

Holiday lettings puts Broulee atop NSW's top 10 regional rental yield locations 

<html><body>
An expansive country estate in Jamberoo, New South Wales has been listed for sale with a price guide of $2.78 million.
The seven bedroom residence known as Christmas River at <a href="https://www.eldersrealestate.com.au/residential/buy/property-house-nsw-jamberoo-682799" target="_blank">317 Jerrara Road</a> features a warm and inviting farmhouse design.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_jerrara.png" alt="">
Jamberoo is a small, historic village located 90 minutes to Sydney and 5 minutes to Kiama's beaches.
The area has a median house price of $872,500, according CoreLogic.
A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-jamberoo-124718026" target="_blank">91 Riversdale Road</a> sold recently for $1.3 million.
The two-storey Christmas River home offers four bathrooms, an office or guest bedroom, chef’s kitchen with butlers pantry, central dining room, theatre room, winter room, multiple fireplaces and lush rural views from every room.
<img src="https://www.urban.com.au/images/2017/05/19/rsz_1jerrara1.png" alt="">
Set on 4000 sqm, the property comes with landscaped gardens, pool, ivy covered equipment cottage, rivers edge gazebo, tree house, orchard with free range chicken garden and coop, pizza oven, BBQ area and an alfresco dining verandah.
Elders Real Estate Jamberoo agent Vivienne Marris has the listing.
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