Queanbeyan

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EXPERT OBSERVER
Regional NSW is now one of the most compelling growth markets in Australia. There are locations right across the state with growing sales activity and many places are delivering double-digit annual price growth.
Regional NSW continues to move in the opposite direction to Sydney. While there are now few rising markets in the state capital, there are growth locations spread across the regions of NSW: a record 39 local government areas have rising markets.
Queanbeyan on the ACT border (above) is the leading precinct, as it continues to stand out as an affordable growth alternative to Canberra. The LGA of Queanbeyan-Palerang has seven Rising Steadily suburbs/towns. Quarterly sales in Queanbeyan (the suburb) have been 39, 40, 50, 59, 38 and 62 in the past 18 months. Many locations in this precinct have had double-digit annual price growth, headed by Crestwood (up 18%).
Newcastle and nearby LGAs also form a compelling growth precinct. Suburbs in the City of Newcastle have had very strong price growth (many have risen between 10% and 20% in the past 12 months).
Now the momentum has shifted to neighbouring Lake Macquarie (which has five suburbs with strongly rising demand) and locations in the nearby Hunter Region (including Maitland, Cessnock, Singleton and Muswellbrook) and neighbouring Port Stephens. Jointly the Newcastle/Hunter region has 19 suburbs with rising markets.
The Maitland LGA has five of them, including Rutherford (median $400,000) where quarterly sales have been 64, 75, 70, 91, 83, 99, 96, 81 and 102 in the past two years, while Aberglasslyn (median $470,000) has recorded 27, 37, 41 and 48 sales in the past year. Both locations have recorded 6% rises in their median prices, with further growth expected. 
Muswellbrook and Singleton continue to improve after the previous downturn caused by over-development and a downturn in the coal industry. Muswellbrook’s quarterly sales have risen from 41 to 52 to 57 to 74 to 83– and its median price has risen 11% over 12 months to $305,000.
Many suburbs in the Lake Macquarie LGA have had strong annual price growth, including Belmont (up 13%), Edgeworth (up 12.5%), Warners Bay (12.5%) and Swansea (15.5%).
Port Stephens just outside Newcastle is also producing growth markets, with demand rising in Medowie, Corlette and Shoal Bay, and solid markets also in Nelson Bay, Salamander Bay and Raymond Terrace. Many of these locations have had double-digit annual price growth, including Nelson Bay (up 17%) and Medowie (up 12%).
Others to stand out as above-average markets in Regional NSW include Albury, Armidale, Bathurst, Dubbo, Gunnedah, Lismore, Orange, Tamworth and Wagga Wagga. Sales in Casino in the Richmond Valley area have been 62, 65, 63, 71, 74 and 91 in recent quarters, with the median price up 14% to $285,000.
A number of regional towns that would normally not attract much attention from investors are rising, including Broken Hill, Glen Innes, Gloucester, Inverell, Kempsey, Kyogle, Leeton, Malua Bay, Mudgee and Tumut.
Quarterly sales in Inverell have been 52, 56, 56, 69, 69, 60 and 81, with the median price rising 16% to $275,000 in the past 12 months.
Areas which were among the Regional NSW growth stars previously, but have now levelled out with plateau markets, include locations close to Sydney which caught a ripple effect from the city boom, such as the Blue Mountains, the lifestyle towns of Wingecarribee Shire (the Southern Highlands) as well as Wollongong and nearby locations. 
Other previous growth stars now past their peaks include Port Macquarie, Coffs Harbour and the Tweed region – but all remain solid markets with prices rising.
The Central Coast LGA, which has been busy for 2-3 years, is still producing growth markets, although it has a greater number of plateau markets. Many Central Coast locations have recorded strong price growth in the past 12 months – including Point Frederick (up 15%), Kincumber (15%), Wamberal (17%) and Gwandalan (13%).
Other regions delivering big price movements include Ballina in the north-east of the state, where Ballina, East Ballina, Lennox Head and West Ballina (up 28%) have lifted significantly the past year. 
Other north-eastern areas with rising prices include Kyogle (up 15%), Lismore (12%) and Casino (14%).
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Queanbeyan leads the 39 rising growth areas in regional New South Wales: Hotspotting's Terry Ryder

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A new 7-Eleven store in Queanbeyan’s Jerrabomberra has been sold for $6,850,000.
It was sold on a 4.8 per cent net yield prior to its scheduled auction.
Home to Australia’s largest independent fuel retailer, the 2 Ferdinand Lane asset is secured on a new 15-year lease with two options of five years each extending to 2045.
There is and an annual net income of $334,000 + GST (after land tax).
Situated 17 kilometres from Canberra’s CBD, the newly completed 7-Eleven is directly adjacent to a brand-new McDonalds, KFC and Aldi, with the emerging precinct also welcoming a medical centre tenant, scheduled to be completed in late 2020.
The tenant will pay all outgoings.
There is a  3.5% annual rent reviews throughout the lease term.
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Brand new Queanbeyan 7-Eleven sells for $6.85 million prior to auction

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Quiz champion Honza Mikula has listed his 37 hectare Captains Flat property. 
Mikulov, set south of Queanbeyan, NSW, come with an 1890s mines office residence dating back to its time as the bustling copper mining site of the Lake George Mining Co.
The property (pictured above and below) comes with a landscape of concrete ramparts and relics of the bygone era surrounded by native forest.
<img src="https://www.urban.com.au/images/2018/7/23/Miney.JPG" alt="">
John Buckley at RE/MAX Capital is taking it to <a href="https://www.realestate.com.au/property-house-nsw-captains+flat-128768402" target="_blank">September 1 auction</a>. Buckley expects the property to fetch somewhere between $600,000 and $650,000.
The holding, which is located on Old Mines Road, last traded in the 1960s after the liquidation of the London-based mining company.
Mikula has been on Rockwiz as well as Who Wants to be a Millionaire? in his pursuit of recognition as an Australian quiz champion.
<img src="https://www.urban.com.au/images/2018/7/23/Miney%202.JPG" alt="">
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Former Captains Flat mining site to go under the hammer

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Set at Queanbeyan, only minutes to main arterial roads to Fyshwick and Canberra CBD, a one bedroom unit has been sold by mortgagee for $170,000.
It was sold by the agents Peter Stumbles and Jon Stumbles from Elders Real Estate. 
<a href="https://www.realestate.com.au/sold/property-unit-nsw-crestwood-127212454" target="_blank">The 10B/17 Uriarra Road</a> home comes with living area with split system air conditioning, large private balcony and secured underground allocated car space.
It was a $300 a week rental.
Other features include stylish plantation shutters throughout and kitchen with stone bench tops.
The suburb's median unit price sits on <a href="https://www.urban.com.au/expert-insights/buying/3091-queanbeyan-nsw" target="_blank">$300,000</a> according to CoreLogic.
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Queanbeyan one bedroom unit sold by mortgagee

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Wallaby Motel is the latest to sell in a string of Queanbeyan motel transactions.
Resort Brokers Australia has just finalised the sale for $2.8 million, the fifth Queanbeyan motel sale brokered by the agency’s specialist broker, Russell Rogers, in under four years.
The five recent sales, totalling more than $12 million, represented a valuable vote of confidence in the region’s economy, Mr Rogers said.
They have included the Queensgate Motel freehold investment, Olympia Motel freehold going concern, Crest Motor Inn freehold, and the owner-operated Village Cabins.
The latter, a 19-villa property on 3,395 square metres now refurbished and renamed Canberra Avenue Villas, has recently been listed for sale again through Mr Rogers priced at $2.675 million. 
<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/2018/3/8/Wallaby%20Motel%202.jpg" alt="">
The 28-room Wallaby Motel was sold as a freehold going concern by former owner-operator eBizco Australia Pty Ltd, who held it for 14 years, to experienced hotelier, Sharon Riddle, who owns a number of accommodation properties in Australia and one in the UK.
The 2,215-square-metre CBD motel in Crawford Street includes a range of 3.5-star double, queen, twin and family rooms, 50-seat licensed restaurant, two-bedroom manager’s residence, and off-street parking for 31 vehicles.
“With the business and commercial precinct at its doorstep, and located only 12 minutes from Canberra Airport and 20 minutes from Parliament House, the Wallaby Motel draws strong trade including business guests, tourists and visitors accessing Canberra services,” Mr Rogers said.
“Well situated, with a generous area of land, consistent turnover and obvious potential for growth, it presented the buyer with an excellent investment proposition.”
“Guests include repeat corporate travellers, tradespeople, independent holiday makers, tour groups, and many who come to the region on government-related matters,” he said.
 
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