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The new residential development in the Lismore suburb of Goonellabah – in regional NSW – takes its name from the old timber mills in the area and the site’s eastern aspect. But much like its Hollywood namesake, Eastwood has put action ahead of words. The developer, Hunter-based McCloy Group, took the uncommon step of building stage one upfront without pre-sales. McCloy Group project director Sam Rowe says that after previous planned projects on the site by different developers stalled, the group wanted to show buyers it was committed to delivering. It invested heavily upfront in building the site’s infrastructure and presenting each block of land, without first selling any sites unseen. “Not many developers release a whole stage to market as a finished product,” Rowe says. “People could show up, walk over the lots and see the potential.” “People these days want quality,” Rowe says. “We focus on being here for the long haul, as well as providing a quality product that both the McCloy Group and the new owners can be proud of.” Get details at: x Second Stage Released at Eastwood Community in Lis... A new land release at the Eastwood community in the Lismore region is giving plenty of reasons for buyers to go ahead and make their day. www.realestate.com.au

The HomeBuilder scheme allows for home owners to gain up to $25,000 in government support for renovations between $150,000-$750,000 on properties that are worth less than $1.5 million prior to the renovation. “There’s opportunities especially in the Brisbane area. You can buy properties fairly close to the CBD under that price range and add value with the renovation,” Mr Jennison said. The scheme, which is targeting larger repairs over cosmetic changes to property, is targeting structural changes. “People think renovations are cheap. A lot of people are very surprised when we tell them it’s probably cheaper to build new than renovate. “So you can chew into a lot of money when you start renovating. But if you can get it up to $150,000, you can get a new kitchen for $25,000,” Mr Jennison said. “I think that is the danger when the government releases these sort of stimulus packages. People shouldn’t spend money just because they can.” “It really needs to be part of an overall plan to ensure that you're not overcapitalising because if you spend that money because the government is going to give you a $25,000 rebate and you have to sell in two or three years time and you’ve overcapitalised, you may not get that money back. Source: x What to know before accessing the HomeBuilder sche... Investors are being urged to consider their property portfolios before trying to access the Morrison government’s latest stimulus package. www.smartpropertyinvestment.com.au

Investors are returning to the safety of property during the COVID-19 pandemic as five buyers contested an industrial complex at a North Geelong auction last week. A mix of investors and owner-occupiers competed for the 3613sq m property at 11-13 Morgan St, North Geelong, which sold for $1.3 million. Darcy Jarman, Geelong West agent Simon Jarman said bidding opened at $800,000 and quickly accelerated to $1 million, where two buyers — the investor and an owner-occupier — closed out the auction at $1.3 million. Mr Jarman said the property sold at a 5.75 per cent yield, based on the annual rental income. The property contains a versatile 1200sq m industrial facility that is presently home to transport company KD Freight Services, providing a $75,000 rental income for the first year. Source: x North Geelong: Freight depot delivers immediate in... Investors are returning to the safety of property during the COVID-19 pandemic as five buyers contested an industrial complex at a North Geelong auction last week. www.realestate.com.au