Shoalhaven

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The Newcastle and Lake Macquarie district has been ranked as having the strongest capital gains of any regional property market across Australia in 2017, according to the latest CoreLogic data.
It had 11.7 percent annual growth, which easily outperformed Sydney's 3.1 percent annual price growth during 2017.
The regional locations - north of Sydney - were followed by the NSW Southern Highlands and Shoalhaven (up 10.3%) and then Geelong, outside Melbourne, (up 9.7%).
In April last year <a href="https://www.urban.com.au/news/tas/68584-housing-affordability-and-price-growth-prospects-in-newcastle" target="_blank">Property Observer columnist Terry Ryder advised</a> that "those who find Sydney a tad rich don’t have to go too far to find major markets" with greater affordability and good growth prospects.
Ryder suggested Newcastle "has a rising economy, a strong property market and appears to be settling into a sustained period of growth."
Ryder also twice identified Geelong as a a locality with potential including <a href="https://www.urban.com.au/news/tas/73826-no-challengers-to-geelong-s-status-as-the-no-1-market-in-regional-victoria" target="_blank">mid-year when he wrote</a> that the Geelong economy was performing strongly and its property market thrived as a cheaper alternative to Melbourne.
In 2014 he wrote <a href="https://www.urban.com.au/expert-insights/buying/29114-i-wouldnt-be-selling-in-geelong-just-yet" target="_blank">"I’m wondering why so many have declared Geelong a dead duck."</a>
The weakest regional markets continue to be in Australia’s outback regions and areas dependent on the mining sector, according to the latest CoreLogic update.
<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/2018/1/2/CORE1.jpg" alt="">
The largest fall in dwelling values over 2017 was recorded in Outback Queensland, a region which encompasses a vast but sparsely populated area of western Queensland, where dwelling values were down 14.3% in 2017.
Rounding out the top five for largest value falls across the regional areas of Australia were Darling Downs–Maranoa in Queensland (-8.2%), Outback South and Outback North in Western Australia (-7.6% and -7.3%) and Townsville in Queensland (-5.6%).
Across Australia, Tim Lawless at CoreLogic confirmed that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.
Amongst the capitals, the weakest end of year conditions are concentrated in Sydney and Darwin.
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Tim Lawless said that “Sydney’s housing market has become the most significant drag on the headline growth figures.”
Sydney dwelling values were down 0.9 percent over the month to be 2.1% lower over the December quarter and 2.2% lower relative to their August 2017 peak.
The city’s annual rate of growth is now tracking at just 3.1 percent; which CoreLogic's Tim Lawless noted was a stark difference to the recent cyclical peak when values were rising at the annual rate of 17.1 percent only seven months ago.
Despite the reversal in growth rates since August 2017, Sydney dwelling values remain 70.8 percent higher than their cyclical low point in February 2012.
The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).
Despite the strong capital gains, housing prices remain extremely low in Hobart relative to the larger mainland capital cities, with the median house value tracking at $424,251; 54 percent ($634,000) lower than Sydney values and 49 percent ($408,000) lower than Melbourne.
 
 
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jchancellor-FAypfDUnLy

Newcastle, Lake Macquarie, Southern Highlands and Shoalhaven property capital gains outperforming Sydney: CoreLogic 

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Terrara House, the historic country estate on the New South Wales south coast, has its price hopes dropped.
<a href="https://uniqueestates.com.au/listings/residential_sale-1291991-terara/" target="_blank">The Millbank Road home</a> now comes with a $5.8 million to $6.3 million price tag, having initially sought $7.5 million to $8.2 million early this year.
The Richmond Moore designed home was constructed from local sandstone in 1904.
It was built on the site of a previous house that was home to the pioneering De Mestre family for first settled in Terara in 1836.
The best known member of the family, Etienne de Mestre, was a celebrated racehorse trainer.
Etienne regularly conducted private race meetings on a track on the Terrara House estate and trained Archer, winner of the first two Melbourne Cups. His record of five Cup winners, all trained on the estate, stood for almost a century. 
Terrara House was originally built for the Mackenzie family. Head of the family, Hugh Mackenzie, was a Scottish laird and Mayor of the Shoalhaven for 23 years. 
Now the three level home has over 20 rooms including seven bedrooms, three bathrooms, a commercial kitchen and a conservatory.
An 18 metre swimming pool and championship tennis court sit on the 6.8 hectare parcel which features established vegetable and parterre gardens.
The stables that predate the home have been converted into luxury guest accomodation.
Unique Estates agents Nicolette van Wijngaarden and Simon Platt have the listing.
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jrobinson-rf4aSBido9

Terrara House returns to market repriced

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The Sydney pub king Justin Hemmes has bought up again in the small south coast hamlet of Berrara near Jervis Bay.

This one's a relatively small $780,000 transaction compared to his previous Shoalhaven holiday home purchases.

But it takes his total spend in the small village to over $11 million. 

It's Hemmes fifth purchase in the sleepy coastal village that adjoins the Conjola National Park.

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It is a non-beachfront 1,062 sqm block though the imposing double brick three bedroom home comes with views of the ocean.

The purchase is just across the road from his beachfront compound. 

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Hemmes started his property portfolio acquisitions in Berrara in 2006 with another non-beachfront when he paid $665,000.

It was 2007 when he spent $4.15 million on Halcyon, a historic four bedroom beach house on 3,000 sqm, located 200 kilometres south of Sydney.

The home was long owned by the Arbitration Commission president Sir Richard Kirby who sold for $425,000 in the 1990s having paid 400 pounds in 1952.

The home had hit the national front pages in the 1994 Christmas holiday when Kirby's house guests, Prime Minister Bob Hawke and his biographer, Blanche D'Alpuger, were first revealed as a couple.

Tom Cruise and Nicole Kidman had rented the home for $3,000 a week when it became a guesthouse in subsequent years when overseen restaurateur John Pegrum. 

Hermes also bought the properties adjoining Halcyon mid last year for $6 million taking his beachfront holdings to nearly 8,000 sqm.

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Its Colliers selling agents Gaby Rogers and Geoff Payne had marketed the property as a rare find.

Hermes also has a rural retreat further down the south coast, the $7.5 million Glasshouse Rocks estate retreat at Narooma.

It is a 60-hectare farm.

Hemmes became Merivale CEO in 1997.

The dynamic chief executive officer of family owned hospitality group Merrivale, resides in Vaucluse, living in the eight bedroom heritage gothic mansion bought by his parents, John and Merivale in 1974.

The Merivale group owns a growing portfolio of more than 65 restaurants, bars, pubs and hotels across Sydney, including the Coogee Pavilion, The Newport Arms Hotel and The Beresford.

This article first appeared in the Sunday Telegraph.
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