Ferngrove Ballina News

Ballina Bypass Stage 1 Opens

Stage one open: Cumbalum to Ross Lane.

The 5.9 kilometre northern section of the Ballina bypass from Cumbalum to Ross Lane was opened to traffic on Tuesday, 1 March 2011. The community is advised of the following traffic changes.

Motorists heading north from Ballina will enter the new highway at the Cumbalum interchange utilising the southbound off-ramp. Motorists heading south from Bangalow will access the new highway north of Ross Lane and continue south under the Ross Lane interchange. Access to:

Ballina for northbound and southbound traffic will remain unchanged using the existing Pacific Highway between Teven Road and Cumbalum.
Tintenbar and Lennox Head will be via the Ross Lane interchange.
Cumbalum from the new highway will remain unchanged using the existing highway.

When the southern section of the project opens to traffic in mid 2012, the Cumbalum interchange will be fully operational with roundabouts on the eastern and western side of the Cumbalum bridges.

February 2011 Update

It's all happening in Ferngrove Ballina at the moment:

- Our 'Win a Coralla' competition is closing soon
- A display home from GJ Gardner is now open
- Coral Homes & Adenbrook Homes will have display homes opening in the next few weeks.
- Dixon Homes have a display home underway
- Stage 2A is now selling! See a list of available lots in Stage 2A here. The NSW Builder Bonus means that you pay no stamp duty.

New Aerial Photos Added
We have added some new aerial photos and display home progress at the Ferngrove Ballina estate. See the photos here

Win a Corolla Closing Soon
Every purchaser of a lot in the Ferngrove Estate that is settled before St Valentines Day, 14 February 2011, will automatically go into the running to win a Toyota Corolla Ascent 1.8 Litre Petrol Manual Hatchback vehicle valued at $24,700.00. This is your last chance so get in fast. Settlements must be completed by close of business Friday 11th February to be eligible for the draw on Monday 14th February.

The draw will be held at 12 noon at Ferngrove Ballna on the 14/2/2011 at Lot 12 (First lot on the right as you enter the estate)

Free Home Load Appraisal
Mortgage House Lismore and Ferngrove are happy to provide future owners in this estate the opportunity to receive a free home loan appraisal. Whether purchasing an owner occupied or investment property it is essential that you receive the right advice in relation to your lifestyle choice and finance needs. Mortgage House, being one of Australia's major non-bank lenders has loans ranging from 100% house and land packages with one of Australia's largest project home builders, through to home loans that have rates up to 1% lower than the major banks standard variable rates with no application or ongoing fees. For a confidential home loan appraisal anywhere in Australia, please contact your local mortgage house representative John Duncan on 02 6622 5626 or 0402970198 – 7 days a week.

The NSW Home Builders Bonus (HBB)

The NSW Home Builders Bonus (HBB) has been introduced to stimulate the construction of new homes in NSW. HBB provides exemptions and concessions for certain purchases of new homes, homes off the plan and vacant land on which a new home will be built (New Housing Concession).

HBB also provides a specific exemption for eligible seniors purchasing a new home as their principal place of residence
(Seniors Principal Place of Residence Duty Exemption). The New Housing Concession provides a full exemption on transactions relating to vacant land and off the plan purchases where building has not commenced. A partial concession of 25 per cent of duty payable applies to completed new homes or off the plan purchases where construction has commenced. There is no limit to the number of new homes a person may purchase under this concession.

The Seniors Principal Place of Residence Duty Exemption provides a full exemption for eligible seniors purchasing a new home that is to be occupied as their principal place of residence. Applicants must be 65 or over and selling their current residence.

To be eligible for HBB the value of vacant land must not exceed $400 000 and new homes must not exceed $600 000.

The agreement for sale or transfer must be either a new home purchase, or off the plan purchase, or a vacant land purchase

A new home purchase is an agreement for the sale or transfer, or a transfer, of land that is the site of a new home that is complete and
ready for occupation.

An off the plan purchase is an agreement for the sale or transfer of land intended to be used as the site of a new home, which is to be built before completion of the agreement.

A vacant land purchase is an agreement for the sale or transfer, or a transfer, of vacant land that is intended to be used as the site of a new home and which is not an off the plan purchase.

Click here for more information, calculators, & application forms

Our empty nesters head for the border

Gold Coast Bulletin 11th of June 2010
Matthew Killoran - killoranm@goldcoast.com.au

A big influx of over-50s is expected to take advantage of the NSW Government's $22,000 stamp duty cut on new houses.

The cut applies for two years to anyone buying an off-the-plan home for less than $600,000 and means a saving of up to $22,490.

DJ Stringer Property Services principal David Stringer said the over-50s demographic and empty nesters looking to downsize would get the most benefit.

"I can see a lot of older people coming out of bigger homes, taking advantage of the fact they don't have to shell out another $12,000 to $20,000," he said.

"It will let them have a bit more money to play with..."

Retirees and empty nesters Jim and Clare Badger are selling their 4ha property on Tallebudgera Creek Road, Tallebudgera Valley, for less than $1.75 million.

Mr Badger said the stamp duty cut would make them consider crossing the border.

"If we saw a place in NSW we liked, that would be an extra incentive," he said.

Their marketing agent, Katrina Walsh, of DJ Stringer Property Services, said it was nice to see the NSW Government giving something back to home buyers.

"From a real estate point of view we do need to kick things on a little bit," she said.

North Estate Agents senior salesman Lance Cotterill said the Tweed was a popular place to retire and this gave people new incentive.

"They can sell their homes for $550,000 to $600,000, then buy a duplex or a unit for $450,000, then they're $100,000 up and don't have to pay stamp duty," he said.

PRD Nationwide Coolangatta-Tweed agent Tony Maher said second home buyers might benefit most from the deal.

"It's going to have a massive benefit to us in the Northern Rivers and Tweed area," he said.

Mr Stringer said residents on the southern Gold Coast were fortunate as they were on the border and could easily 'jump the fence' to take advantage of the stamp duty exemption.

House prices to exceed million-dollar mark in a decade, new figures show

By Alex Easton
alex.easton@northernstar.com.au

Future demand to inflate home market

Property prices across the Northern Rivers are tipped to nearly treble in value over the next decade, making millionaires of mortgagees along the coast while making the housing market increasingly inaccessible to first home buyers.

Ten-year property price projections prepared by Australian Property Monitors offer a crystal ball glance at possible house prices half way through the region's journey to gaining nearly 70,000 new residents.

Depending on your perspective, the figures are cause for celebration or anguish.

The projections, based on price growth figures from between 2000 and now, predict the median house price – the middle figure of the values of homes sold – will soar more than 10 per cent to a staggering $1.54 million in Byron Shire and $1.24 million in Ballina Shire.

Lismore and Richmond Valley both come in under the million-dollar mark under the Australian Property Monitors projections at $765,939 and $756,042 respectively.

The figures got a mixed reaction from real estate agents.

Paul Deegan of LJ Hooker in Lismore and Peter Carmont of the Professionals in Ballina both rejected the figures, which are based on price growth between 2000 and 2010, pointing to the widening gap between average earnings and house prices.

"I don't think it will happen. They're way over the top," Mr Carmont said. "I think wages growth will restrict it."

According to Australian Bureau of Statistics figures, average wages in Australia were just shy of $50,000 last November after growing at between 3pc and 4pc per year since 2000. That figure puts the $458,000 current median cost of a house at Ballina at nine times the average annual salary. Byron is closer to 11 times the average wage, while home buyers in Lismore pay six times more and in Richmond Valley they pay more than five times more than average earnings.

Assuming wages growth steadies at 4pc per year, by 2020 the average wage will be nudging $75,000 which will put the cost of a home in the Byron Shire 21 times above average earnings, Ballina at 16 times and Lismore and Richmond Valley both around 10 times average earnings.

However, Michael Shay of LJ Hooker in Ballina and John Nicolson of McGrath Real Estate (formerly Elders) at Ballina, both thought the projections were possible, even likely.

Mr Shay said the strong growth predicted by the State Government to punch Ballina's population up to 56,200 residents by 2036 began decades ago and had been pushing Ballina's price growth.

Mr Shay said property prices in Ballina had trebled or doubled every decade since he moved to the town from Lismore 10 years ago.

Mr Nicolson said the ageing of Ballina's population meant many of those moving to the town were cashed-up retirees not bound to any ratio between average earnings and house prices.

"Last year, when we were operating as Elders Ballina, our website had 3000 hits per month...and 75pc of those were coming from Sydney," he said. "That tells me...there's a huge pent-up demand."

Smaller homes built to cram in the predicted 70,000 extra residents

By Alex Easton
alex.easton@northernstar.com.au

Forget your media room, your second lounge, your big yard and your 16 bathrooms, the homes of 2036 and going to shrink.

John Nicolson of McGrath Real Estate said the region would have to look at smaller dwellings as it tried to cram in and extra 70,000 people along the coast and manage rising house prices.

New State Government forecasts predict Ballina Shire's population will grow 39 per cent between 2006 and 2036 to a whopping 56,200 residents, making it the Northern Rivers' second-most populous council area.

The figures predict Byron Shire's numbers will soar 44pc to 44,300, while the Tweed's population explodes by 59pc to nearly 132,000 people.

At the same time, the State Plan for Northern Rivers, which looks at housing areas out to 2031, acknowledges hard limits on the amount of developable land available.

Ballina Shire is relatively well placed to cope with the new boom, with the Cumbalum area stretching from Ballina's northern tip to Ross Lane and the area around Wollongbar already being developed for housing.

Byron Shire is in a much more precarious position. It's developable land is restricted to a few small pockets around Bangalow and the Belongil Fields site on Ewingsdale Road.

Byron Mayor Jan Barham has said there is little scope to increase that land. Much of what remains across the shire is either flood-prone, environmentally sensitive or exposed to rising sea levels brought on by climate change.

Fitting the roughly 10,000 people represented in the predicted 44pc spike could only be accommodated by much higher density housing than the town is used to now – although she said that would not have to mean high-rise development.

Mr Nicolson said the nature of population movement in Australia meant there was little point trying to 'cap' populations in a community, that just led to greater spikes in property prices.

The way forward was smaller homes that would both fit in the extra people coming to the region and help manage prices.

"We have built "the world's) biggest houses in Australia," he said.

"We have to have a mindset change. ...The size of our houses has to come down."

That meant more two bedroom homes, an end to redundant rooms, such as second lounges or media rooms, and an end to the big backyard.

"We don't need huge backyards – but we do need more open space and parks. That's the compromise – if you have people living more closely together that has to be more open space."

Paul Deegan of LJ Hooker Lismore, where the State Government predicts little population growth, said the inland centres could also accommodate more people by offering more developable land to the housing market there.

Mr Deegan said the demand for blocks in Lismore was heavily influenced by the number and type of blocks on offer. It was no coincidence that the city's best year for growth over the past decade coincided with the year the council and the State Government allowed 1000 new blocks onto the market.

Do that again and Lismore's population would leap again, he said.

Moving in with the neighbours

Decades of house price rises will force families to share with other families and increase homelessness

By Alex Easton
alex.easton@northernstar.com.au

Families will share homes with other families as they battle to keep a roof over their heads in the high-priced housing market of 2036, a financial counsellor has suggested.

And, unless the State Government starts investing heavily in public housing, homeless rates will soar as low income workers get pushed out of the housing market altogether.

Terry Harvey of the Lismore Neighbourhood Centre said the trend of families living together was already starting to gain traction on the Northern Rivers as residents struggled against high rents and limited supply in the rental market.

"A lot of my clients are paying 60 to 70 per cent of their income to service the rent; seven or eight years ago it was 35pc," Mr Harvey said.

Mr Harvey said he had even been contacted by 'a couple' of families living at Byron Bay who were handing over all their pay, just to cover the rent.

"That sort of thing would have been unheard of (a few years ago) and these people survive only because they have children who can work and pay board," he said. "That doesn't provide a comfortable lifestyle."

Mr Harvey said the problem of high rents and a shortage of rental properties was exacerbated by a lack of Government-owned public housing and the fact rental assistance rates from the Government changed little over the past 15 years.

The trend was forcing people who traditionally would have rented their own homes down the property scale into caravan parks, while the people who traditionally lived in caravan parks were being forced out onto the street.

One solution being tried by families was to share their homes with other families.

"There is a trend towards more group households and sharing rent between families is becoming more common," he said. "You get two low-income families into a four-bedroom house and they share the rooms and costs as well."

That style of living created a new set of social challenges which would only intensify as the practice became more common as rents continued to rise, with issues around safety and protection of children, where families were living with strangers, as well as potential for conflict between family groups.

Mr Harvey said the solution was big investment in public housing by government to make sure low income families had their own homes.

Don't Delay Getting Into The Property Market...

10th March 2010

Hi, Andrew Bell here again.

Well we have started off March with some significant moves in the market place haven't we. Interest rates rose to the 4% level as we expected and we of course have forecasted that interest rates will get back to 5% which means another four quarterinterest rate rises and that is just getting to a level that we call neutral interest rates.

What about the Governor of the Reserve Bank. He is very upbeat about our economy and is certainly suggesting that the fears that maybe were lingering at the beginning of this year have certainly been put to rest at this stage.

Today I just wanted to go back and recap on something we touched on in this year's Property Report. For those who were
present at this year's Annual Gold Coast Property Report you may recall how I particularly highlighted the most significant
fundamentals that would dominate the property market moving forward. It is the massive population growth that we have to
have in order to maintain a healthy growing economy and this massive issue of housing shortage.

Not only are construction levels down at present but what I particularly highlighted was that even if there were ready, willing and able developers we have a huge issue which people haven't fully come to terms with.

I felt like a bit of a lone voice at the time but I was interested to see in the most recent issue of Business Review Weekly a feature on Australian futurist and economist Brian Haratsis in which he fundamentally shares everything that I had talked about a month ago.

He says that the bad news for renters and property market entrants is that he expects house prices to soar and Australia's
affordability crisis to worsen. Although he goes further than I did stating that if Governments do not act to release more land it may cripple the nation's economy.

He talks about the fact that the low construction levels mean that the supply and demand equation is so out of kilter that a
boom in prices is almost guaranteed.

Whilst we know one of the solutions to this problem is Governments releasing more land for development of new housing estates and much has been spoken about this over a number of years now. However what I tried to highlight last month and Brian has highlighted this month is this massive issue of the need to develop infrastructure for wherever these land releases may occur.

It is all well and good to release a lot of land for the construction of new housing but if Governments can't afford to build the roads, provide water supply, build schools, hospitals, police stations, ambulance & fire stations, and all of the other infrastructure support that needs to go into new communities than there is no point releasing that land because those housing markets won't be serviced.

There is no question that Australia has massive amounts of available land for future redevelopment. That is not the issue. The issue is where the money is and where is the will to get the infrastructure in place.

It is no surprise to me why Governments are so reluctant to release more land for development and that is because ultimately the pressure comes back on them and their already stretched budgets to provide the infrastructure and ongoing community support.

As I said in January, buy up as much property as you can right now and if you can buy up some properties for your kids because this problem we have will take decades to turn around.

Owning real estate has not only provided Australian's with so much financial security but it has also been the means by which most Australian's have created their financial wealth. It used to be that the great majority of Australian's could own their own home but that is changing rapidly. 28% of Australian's rented 4 years ago, now 31% and the forecast by 2015 is a massive 40% of Australian's will be forced to rent because they cannot afford to own a home. Talk about the haves and the have nots.

Share this information with as many of your loved ones as you can as any delay in securing the purchase of their homes will very quickly prove to be the most expensive mistake of their life.

If you would like any more information please don't hesitate to contact us. We would only be too happy to help you with as
much information as possible.

All the best for now and we hope you enjoy the month of March.

Andrew P. Bell
Chief Executive Officer
The Ray White Surfers Paradise Group

Ballina eyes 238 new homes

Ballina is set to be transformed by a $60 million residential development, with construction of housing to start on-site early next year.

Developer Ken Jones, from the Gold Coast-based Rose Jones Group, said they now had approvals from all the relevant departments and agencies.

"We are very excited about this project," he said.

"It has taken a long time to get to this point, but we have now sold and exchanged contracts on 30 lots."

Sales are being handled by Ray White at Ballina. The real estate's director, Graeme Hellyar, said the cost of a block started at $250,000.

Ferngrove comprises 238 blocks of land, ranging in size from 400sqm to 800sqm. The blocks will be released in five stages, and Mr Jones said it would be 'demand driven'.

This is a market that he understands – his previous company Genzeil in partnership with Geoff Rose were responsible for some high-profile building projects in the region, including the Ramada at Ballina and Byron @ Byron.

"Ballina is the place to be in Northern NSW," Mr Jones said.

"It's a growth town. It's a pretty town with great beaches and shopping.

"The majority of people who will live here at Ferngrove will probably be second or third home owners.

"They will be a variety of people – locals, people from Sydney, empty-nesters looking to downsize or retirees from Lismore and Casino."

Mr Jones said they were looking forward to seeing the development unfold.

"We want to be proud of what we leave behind," he said.

Development Update - September 2009

We have experienced difficulties with approvals and other matters which have caused delays, however, we are now full steam ahead to complete all physical work for Stages 1 and 2 comprising 104 lots by February next year.

On 21 September 2009, the Ballina Shire Council commenced the construction of the roundabout which will be built in two sections. The first stage will be the northern side (adjacent Aldi) which will be finished in mid November. Traffic will then be diverted to this side and work will continue on the southern side (adjacent to Ferngrove Ballina). All of this work will have to be integrated with the construction of the entrance to Ferngrove Ballina Estate and the other internal roads and services to our development, with construction vehicles negotiating their way through to the site. The roundabout will be paid for by the developers.

The civils work contract has been let to SEE Civils which is a company associated with Turners Civil Works Pty Ltd that carried out the bulk earthworks.

The Ballina bypass is well advanced and the first section, between Cumbalum and Ross Lane, is on track to be completed by the end of next year. The section of road from Cumbalum to Bruxner Highway is to be finished by mid 2012. Research has shown that each time a town has been bypassed with a new road, the town has flourished. It is hard to imagine that the Highway to Sydney once went through Bangalow for instance.

Certainly it will be a blessing not to have heavy trucks rolling through Ballina.

The construction of a concrete wall to act as an acoustic barrier will commence in a few weeks time. This wall will have dense planting on the highway side, which will have the effect of softening the mass.

Interest in Ferngrove Ballina has been exceptional and it is our intention to give priority to the construction of Stage 1 comprising 46 lots. Stage 2 with 58 lots will follow on immediately. The price list for Stage 2 will not be published for a few weeks yet. However, when this is released, the prices will have increased over the Stage 1 prices.

Ballina & Lennox Head Market Overview

The latest Property Watch report from PRDnationwide Research.

Click here to view the article

$21,000 Boost for First Home Owners

The Rudd Government today announced a First Home Owners Boost to ensure first home buyers will be eligible for grants of up to $21,000.

The First Home Owners Boost is a decisive Rudd Government initiative to stimulate housing activity and give first home buyers a better chance in the housing market.

Under the First Home Owners Boost:

First home buyers who purchase established homes will have their grant doubled from $7,000 to $14,000; and
First home buyers who purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000.

More than 150,000 first home buyers are estimated to benefit from the scheme.

The Rudd Government's First Home Owners Boost is part of the Rudd Government's $10.4 billion Economic Security Strategy
to strengthen the Australian economy during the global financial crisis.

First home buyers will be eligible for the First Home Owners Boost from today (14 October, 2008).

All contracts entered into by 30 June, 2009 will be eligible for this new additional assistance.

The Rudd Government will invest almost $1.5 billion in the housing market through this initiative.

All newly-constructed homes will have to at least meet their relevant State and Territory energy efficiency and ustainability
standards.

This initiative will help strengthen the Australian economy during global financial crisis and help protect Australians during the difficult global economic times that lie ahead.

The Rudd Government understands that the economy faces the twin challenges of a subdued housing market and housing
affordability levels at record lows.

That is why the Government is committed to action on both fronts.

This measure builds on the Government's $2.2 billion worth of housing initiatives in the 2008-09 Budget, including:

A National Rental Affordability Scheme to build 50,000 new affordable rental properties;
A Housing Affordability Fund to reduce the cost of bringing new homes to market; and
First Home Saver Accounts to encourage young people to save for a new home.

The First Home Owners Boost responds to the housing affordability challenge and will help strengthen residential investment activity in Australia.

Source: pm.gov.au

Homes boom - just add water

Gold Coast Bulletin, Tuesday 8th of July 2008
by Jenny Rogers

PROPERTY in the path of new transport infrastructure and in water-rich locations is emerging as new real estate hot spots.

The Tugun Bypass has been dubbed the most influential piece of new transport infrastructure in Australia and suburbs around and south of it are set to boom.

And water-rich Canungra and the Northern Rivers of NSW made it on to the latest list of property hot spots because they both get bucketloads of rain every year.

All have been identified as prime property investment hot spots by a national property researcher, Terry Ryder.

Mr Ryder said the availability of water was set to play an increasingly important role in property buying trends across Australia.

Canungra and the NSW Northern Rivers region were included in a list of water-rich locations in the 'Oasis Change' study as places well placed to enjoy a property boom on the back of plentiful water supply.

"The whole issue of water security is now much more deeply embedded in the national consciousness than it was 12 months ago," said Mr Ryder.

"Our research suggests people are not yet fleeing towns or cities because of water problems, but we can all expect to pay more for water in the future and it is logical that property buyers will increasingly investigate the long-term water security of an area before making an investment."

Canungra, which has recorded its best rainfall in 12 years in the first half of this year and 767mm of rain in May alone, was named one of the top water-rich hot spots.

"It made the hot list because it gets such good rainfall, sometimes too much rain for its own liking -- early this year the Canungra Valley vineyard suffered damage when the town received 800mm of rain in one week," said Mr Ryder.

"But when Brisbane is facing tough water restrictions and almost every capital city is under some sort of water restriction, places like Canungra, with good water security, are going to be top of the list for many property investors in future.

"Canungra has also had solid, double-digit growth in its property market in the past year and the median house price there is now over $400,000."

The Northern Rivers of NSW was another water-rich location.

Mr Ryder said new transport infrastructure had become the single biggest wealth-creating factor in real estate and the Tugun Bypass was the single most important transport infrastructure project in the country.

"It (the bypass) is the most influential piece of new transport infrastructure in Australia,' said Mr Ryder.

"Few things drive up real estate values better than new transport infrastructure and it is now the number one factor in determining future property hot spots.

"The greatest beneficiary of the Tugun bypass will be the Tweed Shire as well as places such as Ballina and Yamba farther south.

"These areas will be more accessible to the larger population bases of southeast Queensland and will also benefit from the ongoing upgrade of the Pacific Highway, including the Ballina bypass.

"On the Gold Coast itself, the beachside suburbs of Tugun and Bilinga will benefit from decreased traffic volumes and noise in their area as a result of the bypass."

Mr Ryder said several big development projects, including a $1 billion master-planned development at Cobaki Lakes, were set to go ahead in the wake of the bypass opening.

"Many major development projects were just waiting for the bypass to be completed before cementing a major construction boom."

He said Australia as a whole was on the verge of a massive new commitment to spending on transport projects and property investors looking to pick the next property hot spots should be buying in the path of progress.

Tugun Bypass Opens & Baliina Bypass Begins

The Tugun bypass opened on the 3rd of June and has opened ending a chronic bottleneck at the intersection of the M1 and Gold Coast Highway at Tugun.

Work has begun on the Ballina Bypass which will upgrade 12.4 km of dual carriageway road, extending from south of Ballina at the intersection of the Bruxner and Pacific Highways to north of Ballina at the intersection with Ross Lane at Tintenbar. Click here for more information about the Ballina bypass.

Tugun Bypass to open six months early

By Bob Wilson, 24th April 2008 -http://www.hotspotting.com.au/index.php?act=viewArticle&productId=224

The Queensland Government says it will open the 7.5km Tugun Bypass on 2 June, six months earlier than the expected finishing date set for the $543 million four-lane road.

The new bypass is strategically important for development and business on both sides of the Queensland/NSW border, as it will slice considerable time off the Brisbane-Sydney journey.

The bypass is designed to eliminate traffic bottlenecks between the M1 (the Brisbane-Gold Coast Motorway) and the Pacific Highway into northern NSW. The State/Federal road initiative has been in the works for some years, but no doubt Kevin Rudd's Federal Government will also take credit for it - and also the $455 million concurrent eight-lane upgrade between the Gateway and Logan motorways and Tugun.

The Rudd Government also says it's fully committed to the original $2.4 billion plan to fast-track the Pacific Highway upgrade.

Acting Queensland Premier Paul Lucas, Main Roads Minister Warren Pitt and Federal Infrastructure Minister Anthony Albanese announced the early opening of the Tugun Bypass last week, saying there would be a "community preview" for locals on 1 June. Lucas says the Tugun Bypass was a top priority when he became Main Roads Minister in 2004.

Traffic modelling shows 46,000 vehicles will use the bypass each day, reducing traffic along the Gold Coast highway 55%.

The bypass, which connects the Stewart Road interchange at Currumbin with the Tweed Heads bypass in NSW, will cut travel times between Currumbin and Tweed Heads to five minutes, putting an end to a notorious traffic bottleneck. However, Pitt says motorists can still expect some delays while the Stewart Road interchange is completed.

Albanese says the bypass will save $1.9 billion in reduced travel times and vehicle operating costs and $59 million in avoiding accidents over 30 years.

Prior to the Federal election, Labor detailed how it would progress the Pacific Highway upgrade, of which the Tugun Bypass is an important link.

Despite NSW Government plans to limit population growth and development in the ecologically sensitive Northern Rivers region, road upgrades are continuing apace.

They include the $446 million Ballina Bypass, which will upgrade 12.4km of dual carriageway road south from the intersection of the Bruxner and Pacific Highways and north of Ballina, at the intersection with Ross Lane at Tintenbar.

The Federal Government also plans to spend $335 million duplicating the road from Tintenbar to Ewingsdale, linking the Ballina Bypass from Sandy Flat Road to the existing dual carriageway at Ewingsdale.

The Tugun Bypass is the last link in what will soon be a fast motorway journey from Brisbane to Byron Bay. As we have observed, important infrastructure links such as the Tugun Bypass can open up new areas to investment and in this case investors on both sides of the border are likely to show renewed interest in residential property in the affected areas.

Fast trips to NSW closer

GOLD COAST BULLETIN April 12th/13th 2008
By Andrew MacDonald
Tweed bureau

Weather permitting, Tugun's traffic buster will open on June 2

After more than two years of construction, and longer in planning, the Tugun Bypass will officially open to traffic on June 2 – weather permitting.

Acting Premier Paul Lucas made the announcement yesterday during a morning tour of the almost-completed 7km stretch of road.

Flanked by Main Roads Minister Warren Pitt, federal Infrastructure and Transport Minister Anthony Albanese and federal MP for Richmond Justine Elliot, Mr Lucas said the four-lane, state and federally-funded $543 million stretch of road had been a long time coming.

"Many of us, myself included, have been used to, for years, sitting in traffic of up to 30 minutes in delays when we're going through Tugun either to the southern Gold Coast or northern NSW," he said.

"This is a congestion buster.

"For the next school holidays in Queensland and NSW this Tugun Bypass will be open for business.

"It will eliminate any traffic lights now from Gympie all the way to the border."

He said the travel time on the bypass was likely to average five minutes.

Mr Lucas said completion of the road was a significant milestone for the Gold Coast.

"It was one of the toughest things that I had on my plate when I became transport and roads minister," he said.

"It was hard work; we had tough meetings.

"The good news is that hard work has paid off. This job will be open at least six months ahead of schedule and it is a fantastic tribute to the workers but it won't be open a minute too soon."

Mr Lucas denied the project had gone over budget, saying '$543 million was the final cost of it, it is going in accordance with budget'.

Although recent rain has delayed some work on the project, Mr Lucas said workers had largely managed to make up the time, to be on track to open six months ahead of schedule.

"Barring any unforeseen circumstances it will be open by the second of June," he said.

"Once you're out of the ground and you've got everything hard like it is now, delays are generally for the actual time that it's really raining. If you've got dirt everywhere then rain actually interferes with it for weeks."

Gold Coast firm undertakes NSW coast subdivision

New Estate for Ballina
by Tracey McBean - Business Property Editor
Gold Coast Bulletin - 21st March 2008

A Gold Coast company has broken ground on a $60 million residential subdivision at Ballina.

Rayshield, linked to Glenzeil founders Ken Jones and Geoff Rose, will develop the 236-lot estate, Ferngrove Ballina, on a 24ha site at the northern entrance to the coastal NSW town.

The company acquired the former farming parcel for $13.5 million.

Rayshield joins a list of Queensland firms with major commercial, mixed-use and residential projects planned for the Ballina area that includes Macpro, Samtay and Petrac.

Under the NSW Government's Far North Coast Regional Strategy, Ballina will become the area's third major regional centre next to Tweed Heads and Lismore in coming years.

The Far North Coast region, which stretches from Evans Heads to the Queensland border, is forecast to gain a further 60,000 people and an extra 51,000 homes by 2031.

Mr Jones said Ballina was on Rayshield's radar because of its seachange credentials, road upgrades and steady demand for homes.

"We see Ballina as the Maroochydore of the Far North Coast," he said.

"It has a substance to it with its cinemas, beaches, schools, walking tracks and golf course.

"It is flat and a lot of retirees like it because it is easy on the foot and there are good medical facilities."

Mr Jones said he expected Ballina's popularity with tourists and daytrippers to increase with the opening of the Tugun Bypass this year.

"People will feel Ballina is close, and a comfortable ride," he said.

"Also, there will be no traffic lights between Brisbane and Ballina."

Ballina also has a bypass project under way – a 12km stretch of road that will divert through-traffic away from the town centre.

Mr Jones said Ferngrove Ballina was aimed mainly at second-home and third-home buyers and would have a design guidelines covenant.

He said development approval for the project was pending and Rayshield had the green light to prepare the site.

Registration of the housing lots was expected by early 2009.

Mr Jones said 75 per cent of the 45 lots in stage one had sold for about $8 million since Christmas with home-builders, including Phil Anstey, Coral Homes, Metricon, GJ Gardiner and Clarendon, among the buyers.

Marketing agent Graeme Hellyar, of Ray White Ballina, said the project would meet pent-up demand for residential land close to the town centre.

Ferngrove is to be developed in five stages over three years.

Lots will range from 400sqm to 800sqm and will house conventional, duplex and villa homes.

Playing fields and a childcare centre will be incorporated into the estate, whose site is close to Ballina's major shopping centres and Bunnings and Aldi stores.

Rayshield is also associated with Coast businessmen Stephen O'Keefe and John Fillmore.

Mr Jones and Mr Rose, both former Raptis executives, formed Glenzeil in 1990 and sold it in 2005 to focus on development.

They now head the Rose Jones Group which last year developed The Point @ Varsity office building, in which the company is based.

Ballina to get $70m homemaker precinct

Gold Coast Bulletin - Friday 7th March 2008
by Tracey McBean - Business Property Editor

Ballina is poised to become a regional retail centre with work on a $70 million homemaker precinct in the seaside town to start this year.

The project, Homeworld Ballina, will be a sister project to the $250 million Homeworld Helensvale which is under construction.

Brisbane-based Macpro Properties is developing both Homeworlds in joint ventures with the respective landowners.

The Ballina project has received application approval from Ballina Shire Council recently.

Macpro managing director Grant McLennan said Homeworld Ballina would add a dedicated showroom and bulky goods precinct to the town's traditional retail and high street shopping areas.

Macpro's research and planning process had identified the need for a large-scale homemaker facility offering furniture, electrical, home improvement and other like retailers.

"There has always been a huge hole in northern NSW for this (showroom) kind of usage," he said. "The closest showroom centres are in Coffs Harbour and Tweed Heads South."

Mr McLennan said many of the retailers who had committed to space in Homeworld Helensvale had expressed interest in gaining a presence in Ballina.

The centre will have 29,000sqm of floorspace and will be built on an 8ha parcel near the southern entry to Ballina.

It will sit in a plum position next to the southern interchange of the Ballina Bypass, which is expected to be completed in coming years.

The land is held by Ballina businessman Steve Robertson, and Lennox Head developer Neil Holmes is also involved in the joint venture.

Mr McLennan said the centre's size was equivalent to the town's three shopping centres combined.

He said Homeworld Ballina would give the region's shoppers the ability to compare prices for similar products in one location.

"They can get value for money in one location and make a decision on a purchase immediately," he said.

"National homemaker retailers have now clearly identified the customer's preference for shopping at larger complexes which offer full comparison shopping with a vast array of retailers, even if it means driving further to do so."

Mr McLennan said the project would bring more shoppers to Ballina and therefore enhance the town's other retail offerings.

Site works on Homeworld Ballina will start later in the year with completion expected in early 2010. Tenancy sizes for lease in the centre will range from 200sqm to 8500sqm.

Homeworld Helensvale is under construction on a 20ha parcel that once housed the Oxenford racecourse.

Macpro is developing the 50,000sqm centre with landowner Les Aynsley. Stage one is due for completion mid-year.

Tenants committed to Homeworld Helensvale include Fantastic Furniture, The Good Guys, Clive Anthonys, Barbeques Galore, Aussie Living, Sleepy's Bedshed, Samsara, Curtain Wonderland, Carpet Court and Rugs-a-million.

Ballina is planning to go boom

Not all of the Mexicans heading north for sunshine and surf are arriving on the Gold Coast. Gemma Patterson reports that the sleepy village of Ballina is waking up to new opportunities offered by newcomers.

Ballina is tipped to be the New South Wales North Coast's next big thing.

The Tweed and Byron have had their time in the sunshine, now thousands of people are seeking a quieter sea change in Ballina.

Traditionally a retiree hotspot, the face and reputation of Ballina are changing as more families move to the coastal haven.

To meet the demand, the Ballina Shire Council has been forced to approve and consider many new developments.

Steve Barnier, the council's group manager of strategic services, has lived in Ballina for 22 years.

"My family came here in 1986 when there were 24,000 people in the shire and about 12,000 in Ballina,' said Mr Barnier. "There are now 40,000 in the shire and about 20,000 people in Ballina, according to the 2006 Census.

"People are coming here for the usual things; lifestyle, beaches, climate and the river.

"In the 2006 Far North Coast Regional Strategy, Planning Minister Frank Sartor suggested another 60,000 people would move to the Far North Coast before 2031.

"That's a 26 per cent increase on the existing population in places like Ballina, Tweed, Byron and Lismore shires. Ballina has been identified as an emerging regional centre and is moving towards a similar status to Lismore and Tweed.

"As a council we have to demonstrate to the Department of Planning how we plan to accommodate the future growth, so we're currently identifying areas we believe would be suitable."

Some of these areas are already being developed, while other land is going through the approval process, said Mr Barnier.

The Clarence Property Corporation recently bought land in Tamer Street for about $6 million to redevelop into a commercial/retail precinct and in late 2006 an 80 hectare site near Lennox Head sold for more than $50 million to Queensland company Petrac.

It plans to develop a residential subdivision with retailers and a shopping complex.

Two major housing complexes are also set to be built.

Homeworld was approved in December, to be built south-west of the Ballina CBD and feature 29,000 square metres of retail floor space.

Another project yet to be approved is Homemakers, which would feature 27,000sqm of retail floor space and a petrol station.

"Ballina is obviously busier, more vibrant and more diverse now,' said Mr Barnier. The challenge for council is to try and make sure service levels for the residents are kept up to date.

"We figure if people are still coming through the turnstiles we must be doing something right though."

Ballina Shire Council general manager Paul Hickey said the town was beginning to rival the likes of Byron Bay and the Tweed.

"We're seeing Ballina become a more cosmopolitan shire, there's a real mix of people here nowadays," he said.

"People are moving here from places such as Melbourne and Sydney, there's a general trend across NSW driving the sea change."

Mr Barnier said the Ballina Bypass upgrade – to be completed within a year – would see more commuters coming from the Gold Coast with 12.4km of the Pacific Highway being updated.

'" We're already seeing more Queensland number plates coming through the area, which is a good sign," he said. As for the future, just ask council's development services manager, Andrew Smith.

Mr Smith said many more developments were in the pipeline, particularly in rural areas.

Rolling country west of Lennox Head has been pinpointed for a 1000-lot residential subdivision, while Wollongbar and Alstonville are growing villages.

"Alstonville has a little over 5000 people now and Wollongbar about 2500," said Mr Smith.

"We are planning a large urban expansion in Wollongbar so we can house a further 2000 to 2500 people.

"That way we'll have two villages on the plateau, separated by green agricultural land."

Meanwhile, there are several developments planned for the coast.

Fern Grove is a development immediately west of Ballina, with 200 residential lots for sale off the plan.
At Lennox Head an estate called Elevation will see another 120 lots for sale, while nearby Pacific Pines Estate will offer about 1200 blocks.

"The Pacific Pines Estate has approval from the State Government.

"They're currently preparing their masterplan, which includes residential areas and a small commercial village with a tavern, childcare centre and sports fields,' said Mr Smith.

In the CBD, the Rous Hotel is nearly finished renovations, while the Lennox Point Hotel plans to spend $1 million redeveloping its site.

"People on the Gold Coast might think they're small, but they are all big changes for Ballina," said Mr Smith.

"It's a very exciting time."

Gold Coast Bulletin 23/02/2008 Focus: Seachange

Quiet life comes at price

Ballina's property prices are booming as more people seek the quiet coastal life.
Long-time real estate agent, Neville Foster, said the prices have doubled since he arrived in the town a decade ago.

"It's changed dramatically in the 11 years I've been here, particularly price-wise," said the Century 21 director.

"Certainly Ballina is a growing area and there's an increase in demand for central Ballina properties because we have a lot of retirees who want to live close to everything."

When Mr Foster first moved to the town he said you could snap up a two-bedroom unit for as little as $110,000.

"The same unit now would be worth in the high 200s," he said.

"Houses in Ballina average between $400,000 and $600,000, whereas 11 years ago they were only about $180,000 to $250,000.

"There's been big price increases.

"You can't buy three-bedroom duplexes, villas or townhouses for less than $600,000 in the CBD now.

"Waterfront on the Richmond River costs $1 million upwards and 11 years ago it was $300,000 to $400,000.

"There's always strong demand for anything under $450,000 because it's rare to find a decent house for less than that,"

While more families are moving to the growing town, Mr Foster said Ballina has retained its reputation as a retiree hotspot.

"I still say it's predominantly a retirement area but there are families coming here and a lot of houses are being redeveloped into units or duplexes," he said.

Mr Foster has predicted an upward spiral in property values.

"While there's strong demand and little supply the prices will continue to rise.

"The developers are certainly active now whereas three years ago not much was happening.

"As all our roads improve, we're only about an hour from the Gold Coast so I think we'll see more people moving here," he said.

Gold Coast Bulletin 23/02/2008 Focus: Seachange

Top 10 Regional hot spots are all local

Regional property markets have outperformed some of the traditional core metropolitan markets in recent years, with many doubling in price over the past five years.

At a presentation on regional property in Sydney yesterday, Colliers International's research director, Tim Lawless, named Townsville, Hervey Bay and Ballina/Lennox Head as the nation's top regional markets.

However, he warned investors about the risks involved in regional markets that depend on a sole industry. Towns such as Moranbah, Emerald and Dysart in Queensland's Bowen Basin have shown growth in median house prices between 26 per cent and 68 per cent in the past five years, but are open risk because of their complete dependence on coal.

Herron Todd White's property valuers director in Newcastle, Nick Payne, said there were large returns in areas such as Singleton and Muswellbrook that were directly coal-related, but "with that comes greater risk".

"If there was to be a downturn in the coal market, there could be a corresponding downturn of commercial property and residential values would also be substantially reduced," he said.

In contrast, regions such as Townsville and Darwin are reaping benefits of diversity.

"Darwin not only has a $2.8 billion plus mining industry, but a $1.5 billion tourism industry, a significant military base and port facilities," Mr Lawless said.

Drawing on research by recently amalgamated PRDnationwide, Mr Lawless named Townsville, which has experienced an 18.5 per cent median house price growth a year in the past five years as the top regional hot spot because of its diverse economic base and strong population growth.

The town, which has an army base and a university, is expected to get a further 800 military personnel by 2010 with 700 support staff.

Colliers International director of research in Queensland Colin Dwyer said Townsville was good value because its residential vacancy rate of 2 per cent was under pressure from a 3 per cent population growth rate as well as holding some of the best water supplies in the country.

Second on Colliers International's top 10 was the Queensland coastal town of Hervey Bay where the median house price has more than doubled in the past five years.

"It's the affordable coastal property which is attracting strong population growth particularly from the over-50 empty nester market," Mr Lawless said.

Ballina and Lennox Head in northern NSW came in third after benefiting from new roads to the Gold Coast, Darwin, in the Northern Territory, came in fourth with its similar characteristics to Townsville.

The Bass Coast in Victoria was next with areas such as Phillip Island and San Remo becoming very popular with sea-changers.

Also in Victoria, East Gippsland beaches and lake areas are regarded as providing some of the most affordable waterside living and are becoming popular with holiday home buyers.

Number seven was Queensland's Yeppoon. "The Capricorn Coast is still providing relatively affordable coastal property and other areas surrounding Yeppoon such as Emu Park are recording strong price growth," Mr Lawless said.

Coffs Harbour was eighth with an average 16 per cent growth rate in house prices over the past five years.

Wollongong and Shoalhaven came in at nine after experiencing high demand for houses and land from first home-buyers an young families.

Shoalhaven has recorded the highest number of land sales in NSW over the past five years.

At 10 was the Tweed Coast, which has benefited from the ripple of development spreading along the southern coastline of the Gold Coast and northern NSW.

Key Points
- Townsville, Hervey Bay and Ballina/Lennox Head top Australia's regional property markets.
- Diversified centres such as Darwin are the safest property investments.

By Matthew Cranston
The Australian Financial Review
Thursday 20th September 2007

All roads lead to sea-change country for hungry investors

PROPERTY investors looking to make a killing should follow the new roads penetrating deep into seachange country.

Why? Because two of the most powerful forces in creating real estate hotspots are the seachange movement and new transport infrastructure. Put the two together and you have a potent recipe for strong prices.

That's an important consideration for investors right now. Around Australia there are numerous locations where the marriage of seachange and transport infrastructure is creating hotspots. NSW, Queensland, Victoria and Western Australia all have locations with this formidable combination.....

....Further south, locations such as Ballina, and Yamba will also catch some of the breeze from the Tugun Bypass coupled with ongoing improvements to the Pacific Motorway.

Works on improving the motorway from Ballina to Yamba and beyond are part of the ongoing upgrade of the Pacific Motorway from the Queensland border south to Newcastle, which began in 1996 as a 10-year program and has cost $2.3 billion to date.

The original program has now been extended with the injection of further funds by both the federal and state governments.

About 250km of the Pacific Motorway is now double-lane, divided road and a further 480km of the highway has works under construction, approved for construction, or in advanced planning.

The Ballina bypass, an important component of this project, is a 12.4km section of dual carriageway on which construction is due to start next year.

All this translates into big benefits for property markets in this precinct because it makes it easier for people in southern Queensland and northern NSW to access these areas.

Source: The Australian

Read the full article here

Article confirms our forecast for north NSW

Since the middle of 2006, hotspotting.com.au has been alerting investors to the possibilities of markets in northern New South Wales thanks to new transport infrastructure.

Locations in this precinct have been included in both the NSW Hotspots report and the national Sea Change Hotspots report. The big kicker in these areas is ongoing major improvements to the Pacific Highway and the upcoming boost from the Tugun Bypass at the southern end of the Gold Coast.

These changes make it much easier and faster for residents of South East Queensland to get to locations like Tweed Shire, Ballina and Yamba.

A recent article in the Australian Financial Review, headlined ?Roads bring new wave of buyers?, confirms the potential we have been predicting.

The AFR reported: ?The upgrading of highways from Brisbane to Byron Bay has kick-started the NSW far north coast?s slumbering property market and agents are reporting a sudden improvement in sales turnover and prices.

?Once the Tugun Bypass is complete, Byron Bay will be the same travel distance for Brisbane as Noosa is.

?A new profile of buyers has been emerging since the $250 million Yelgun-to-Brunswick Heads section of the Pacific Highway opened recently.?

The AFR article notes that direct flights from Melbourne to Coolangatta Airport at the southern end of the Gold Coast are also making it easier for Victorian buyers to get to northern NSW.

North Coast region of NSW Hotspot

The North Coast region of NSW is outlined in sample reports from hotspotting.com.au to be in the top 10 sea change hotspots in Australia.

National Top 10 Sea Change Hotspots

Sea Change is the strongest impulse impacting on the national real estate market. The movement to the ocean is fundamental to the Australian lifestyle. It has been a headline event in demographics since the late 1990s.

Eight out of every ten Australians now lives within 50km of the coast. Almost 20% of the nation lives on the provincial coast outside capital cities.

The numbers of people moving to the coast have increased each year from 1998 to 2003. There was a slight decline in 2004 but the numbers remain strong, with almost 70,000 moving to the coast every year.

You can purchase the full report here

'Sea Change' Trend Continues Unabated

Port Douglas 4 April 2006: Newly released population figures show the 'sea change' phenomenon is continuing unabated and is placing severe pressure on coastal communities around Australia, according to the National Sea Change Taskforce.

The Chair of the Taskforce, Maroochy Mayor Cr Joe Natoli, said the ABS figures released for the year ended June 2005 show that growth rates in coastal Australia remain nearly 60% higher than the national growth rate of 1.2%.

Cr Natoli was speaking at the first national conference of coastal councils, called SEA CHANGE 2006, which is being held at Port Douglas in north Queensland.

"We had expected some slackening of growth in the latest figures, but our analysis shows that coastal growth rates have remained at consistently high levels over the past three years," Cr Natoli said.

"There seems to be no end in sight to this shift to the coast. In fact the demographers are warning there is going to be a massive new surge of 'sea changers' as the baby boomers reach retirement at the end of this decade."

Cr Natoli said research conducted for the Taskforce by the Planning Research Centre at The University of Sydney identified that rapid growth in Australia's coastal areas is being driven by a phenomenon known as amenity migration.

He said factors contributing to population growth in coastal Australia include:
• A growing number of people seeking to improve their quality of life, away from the capital cities;
• The high cost of housing in the capital cities;
• The imminent retirement of the 'baby boomers', which is predicted to create another big surge in population movement to the coast;
• The global shift from manufacturing based economies to information, service and consumption based industries which do not depend on a metropolitan location; and
• New technology, including broadband, which enables people to telecommute from small coastal centres or the rural hinterland.

Cr Natoli said the ABS figures show that coastal Australia has experienced the strongest growth outside the capital cities and is particularly strong in Queensland and Western Australia.

Queensland coastal councils recorded an average growth rate of 2.4%, which is double the national average, while West Australian coastal councils recorded average growth of 3.7%, which is more than three times the national average.

"Our research has pinpointed the main drivers of growth in coastal Australia. It has also identified planning strategies that each sphere of government can use to better plan and manage coastal growth," Cr Natoli said.

"Now it is a matter of finding the political will to address this issue before the coastal environment that Australians love so much is overwhelmed by the scale of growth and development that is occurring there."

In Queensland, the Gold Coast recorded one of the largest population increases of all Local Government Areas (LGAs) in Australia, reporting a gain of 12,600 people.

In Western Australia, the Wanneroo LGA continued its strong growth trend, with a gain of more than 7,000 over the course of the year and the Mandurah LGA maintained its growth momentum with an annual growth rate of 5.9%.

In NSW, increases in population were recorded in most coastal LGAs outside the Sydney metropolitan area, with the largest occurring in Shoalhaven, Newcastle and Lake Macquarie.

The Victorian LGAs of Bass Coast, Greater Geelong and Surf Coast continued to experience strong growth, while in South Australia the coastal LGAs of Alexandrina, Yankalilla, Victor Harbor and the Copper Coast were among the fastest growing in the state.

A number of coastal LGAs in Tasmania also continued to experience growth, including Break O'Day, Flinders, Glamorgan/Spring Bay and Kingborough.

About the Taskforce
The National Sea Change Taskforce was established in 2004 as a national body to represent the interests of coastal councils and communities experiencing the effects of rapid population and tourism growth. It now represents 68 coastal councils in all Australian states.

http://www.seachangetaskforce.org.au/