Hunter Valley

As the market continues to boom in the Hunter Valley, Australian-based property developers, WST Property has announced the acquisition of a 240-hectare residential site at Mount View Grange.

Nestled below the Broken Back Range, Bellbird North in the Hunter Valley, Mount View Grange is a master planned community with land blocks ranging from 450 sqm to 800 sqm.

Across more than 50 stages, the site will deliver in excess of&nbsp;1,650 detached homes with 1,500 lots over three precincts.

The community will also be home to a 3.11-hectare retail town centre, with anchor tenants and speciality stores, along with a significant amount of green spaces and parks, as well as walking and bike tracks that will link to the retail town centre, surrounding wineries, and Wollombi Road.

WST Property Group&rsquo;s Managing Director, Krenalin Moodley said the project is expected to attract the family and first home buyer market, with Mount View Grange within a short drive of schools, preschools and day care facilities, as well as parks, restaurants, and leisure activities.

<img alt="" height="976" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-28_at_10.55.50_am.png" width="1318" />

&ldquo;We are excited to mark our first residential project in the Hunter Valley, a region that we recognise as Australia&rsquo;s largest regional economy and a region that is forecast to boost incomes and living standards on the East Coast, making it an ideal location for families and first home buyers,&rdquo; said Moodley.

Located just minutes from Cessnock Town Centre, the Hunter Expressway and the M1, the residential site also provides affordability, amenities and accessibility to Sydney.

The Hunter region has continued to boom and experience strong growth.

The 2021 census revealed the combined population of the region was 682,465, and is expected to reach over 1,000,000 people by 2031.

While the majority of growth was experienced in Greater Newcastle, the City of Cessnock population has almost tripled from 21,725 residents in 2016, to 63,020 residents in 2021.

&ldquo;Our goal is to deliver our vision of quality master planned communities to our customers, in regions that provide a wonderful opportunity for families and first-time home buyers looking to purchase homes that offer affordability and alluring convenience close to transport, schools, and workplaces,&rdquo; Moodley added.

The privately owned, broad base company has a current pipeline ranging from light industrial, business parks, retail town centres, and SEPP 5 retirement living, with Mount View Grange the flagship greenfield residential project for WST Property Group.

Nestled below the Broken Back Range, Bellbird North in the Hunter Valley, Mount View Grange is a master planned community with land blocks ranging from 450 sqm to 800 sqm.



alisonwarters@gmail.com

 WST Property Group acquires first masterplan site, Mount View Grange in the Hunter Valley

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The Impulse Airlines founder Gerry McGowan and his wife Sue have listed their 1300 hectare estate at Merriwa in the Upper Hunter Valley.
It comes with a $14 million-plus asking price.
The <a href="https://www.domain.com.au/for-sale/merriwa-nsw-2329-2011994466?sp=2" target="_blank">Rich Rock</a> cattle estate last traded 18 years ago, adding its first vintage in 2004 - a shiraz through winemaker Keith Tulloch. 
Set 1540 feet (470m) above sea level, Rich Rock is one of Australia's highest altitude vineyards, with up to 10 tonnes of high quality grapes.
 
<div class="cT-imageLandscape">
<img src="https://images-2.domain.com.au/2015/06/25/6641813/Article%20Lead%20-%20wide997582787ghw8zgimage.related.articleLeadwide.729x410.ghxnsz.png1435217051709.jpg-620x349.jpg" alt="Rich Rock rural estate, for sale for $14 million+."> 
Previously known as Tawarri, its includes a substantial Angus cattle line.
It has been listed through Sydney Country Living agents Brian McMillan and Shayne Hutton have the listing which comes with main pavilion style homestead, a century-old woolshed with self-contained quarters in the roof space, tennis court and pool amid Anne Wilkes-designed parterre garden.
All accessed via the private helipad, or three hours by road.
"This property is considered to be one of Eastern Australia's most prestigious and desirable properties," the marketing says.
"This is an heirloom like no other in the exclusive environs of the Upper Hunter Valley," it said.
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Rich Rock, Merriwa listed with $14 million hopes

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A former inn at Murrurundi in the Upper Hunter Valley has been listed with an asking price of $610,000.
It is now a three bedroom home that has recently been renovated.
Haydonton Inn at 2 Mayne Street is named after Thomas Haydon, who subdivided a large block of land in 1840 which later became the town site of Murrurundi.
<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/2018/9/11/Haydonton%20Inn%20Murrurundi.jpg" alt="">
It has been listed through David Carter of Professionals Crown Property &amp; Livestock at Scone.
Carter said Mayne Street has several buildings that are listed on the National Trust register; including a cottage that bushranger Ben Hall resided in.
“The inn was built in 1852,” he said.
“It was one of the original accommodation houses in the region and it comes with an amazing history.
“Murrurundi has a growing arts community and is popular with visitors who are interested in the heritage of the area.
“I could see the property being used as a bed and breakfast but I think it the most likely buyers will be somebody looking for a family home or rural retreat.”
Carter said the home sat on 3.7 acres backing on to the Pages River.
“The home has undergone restoration over recent years and now combines beautiful original features with modern convenience,’’ he said.
“The home has three bedrooms, a modern kitchen, a formal sitting room, a study, formal dining room and a spacious living area.
”For the horse lover, the property has two safely fenced paddocks, a set of three stables designed with a central cathedral roof and a functional feed/tack room. The property also boasts an equipped registered well in addition to local town water supply.”
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Former Haydonton Inn in the Hunter Valley listed

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The British baron Robin Tedder and his wife Rita have put their Hunter Valley vineyard estate, Glenguin, up for sale.
It comes after 27 years of ownership.
Set on 28 hectares, the Broke estate at 997 Milbrodale Road has produced handcrafted trophy-winning wines.
<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/2020/5/25/glenguin%203.jpg" alt="">
<div class="_3MT_w " data-experiment-target="paywallPrompt" data-testid="PaywallPrompt">Robin and Rita Tedder retain a Clifton Gardens abode on Sydney’s Lower North Shore.</div>
Robin has a background in finance and investment and is chairman of Vintage Capital.
He is a director and co-founder of Blackwall Property Group, a subsidiary of WOTSO, one of Australia’s largest operators of co-working spaces.
He qualified as Australia’s 7th Master of Wine in 1997.
<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/2020/5/25/glenguin%202.jpg" alt="">
The estate has an architecture designed, master built homestead, with three adjoining pavilions with two towers.
There is a pool and an all weather tennis court.
The vineyard has been rated at 5 red stars in James Hallidays’ Wine Companion.
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jrobinson-rf4aSBido9

British baron Robin Tedder lists Hunter Valley vineyard estate, Glenguin

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The Hunter Valley (excluding Newcastle) has witnessed a 7.7% increase in its annual dwelling sales over the 12 months to April, according to the latest CoreLogic Regional Market Update. 
The property data firm suggests Hunter Valley has recorded 6,108 dwelling sales over the year, with a 8.9% increase in its house sales. 
The unit sales has declined by 1.2% over the same period. 
<a href="https://www.propertyobserver.com.au/images/2020/5/28/hunter%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2020/5/28/hunter%201.jpg" alt="">
Source: CoreLogic 
The property data firm says the region's unit values have declined by 1.8% over the year. 
Its current median unit value sits at $330,262.  
Its median house value has increased by 2.1% over the same period to $444,639. 
A Corlette unit situated opposite the beach was sold for $345,000 in February. 
The <a href="https://www.realestate.com.au/sold/property-unit-nsw-corlette-132819014" target="_blank">2/161 Bagnall Beach Road </a>home (pictured below) comprises three bedrooms, two bathrooms and double garage. 
The ground floor unit is situated within a complex with a swimming pool. 
<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/2020/5/28/corlette.jpg" alt="">
A three bedroom house in Metford has recently been sold for $450,000.
The family home at <a href="https://www.realestate.com.au/sold/property-house-nsw-metford-132966110" target="_blank">24 Foveaux Crescent</a> (pictured below) features modern living area, family dining room, well-equipped kitchen and alfresco deck. 
The property was last sold in 2014 for $350,000.
<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/2020/5/28/metford.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2020/5/28/hunter%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2020/5/28/hunter%202.jpg" alt="">\
Source: CoreLogic 
The vendor discounting sits at -4.5% for houses and -4.4% for units.
At the same time last year, vendor discounting was -4.3% for houses and -3.7% for units. 
The average days on market for both house and units have noticeably increased in the past 12 months. 
<a href="https://www.propertyobserver.com.au/images/2020/5/28/hunter%20valley.jpg" target="_blank">Click here </a>to enlarge: 
<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/2020/5/28/hunter%20valley.jpg" alt="">
Source: CoreLogic 
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Hunter Valley sees increasing annual dwelling sales: CoreLogic 

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Glen grove, a lifestyle home situated in a quiet pocket of the Hunter Valley, has been sold for $1.1 million earlier this year. 
Sitting on a 2.6 ha parcel, the Glendon Lane property is surrounded by established gardens, offering privacy.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%2011.53.54%20am.png" alt="">
The homestead comes with five bedrooms, three bathrooms, several living spaces with views of the Hunter.
A screened Queensland room off the living room also encompasses an entertainers' dream property.
There is another self-contained cottage comprises its own bedroom, ensuite and living quarters.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%2011.53.48%20am.png" alt="">
 It also features courtyard, fountain, large sheds, two bay garage and dam. 
The property is located within an hour from Newcastle and two hours from Sydney. 
Dan Jurd of Jurd's Real Estate Cessnock sold the property. 
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Glengrove, a lifestyle home in the Hunter Valley, quietly sold for $1.1 million

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Meerea, a Hunter Valley retreat nestled at the base of the Wollemi National Park sold for $1,725,000.
The Wambo Road property in Bulga sat on 110 hectares in two separate titles. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%2012.57.00%20pm.png" alt="">
Previously operated as Pescher's Wines, the homestead has been renovated by the current owner 
The home comprises three bedrooms, three living areas, formal lounge, theatre room, kitchen, study and sunroom.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%2012.57.07%20pm.png" alt="">
It features enclosed entertaining area, outdoor BBQ, verandahs, outdoor bath and ground salt pool. 
Meerea also includes frontage to Hayes Creek, wells and dams, 30 acres of vines, machinery sheds and double garage. 
Scott Bailey of Bailey Property and Livestock held the listing.
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Meerea, a Hunter Valley retreat, has sold for $1,725,000

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Famed trophy stud property Luskin Park along with its entire bloodstock holdings in the Hunter Valley, Luskintyre has been sold for $2,250,000.
It was purchased by the company of Matthew C Smith, the Warwick Farm-based horse trainer and his wife, Melissa.
The decision to sell the entire bloodstock holdings of Luskin Park Stud came after the death of the of proprietor Paul Whelan last October.
It was the birthplace of champions including Golden Slipper winner Luskin Star and more recently the G1 winners Foxwedge and Rock Classic.
The homestead, located at 110 Knockfin Road, was on a 46-hectare holding on the bank of the Hunter River, located a two-hour drive north of Sydney.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%203.13.11%20pm.png" alt="">
It was expected to sell for between $2.5 million and $3 million.
The property, historically a thoroughbred stud, also offers high quality grazing land suitable for running cattle or growing lucerne.
 
 
 
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Hunter Valley trophy stud, Luskin Park sold

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The world class winery Sweetwater, located in the rolling hills of the Hunter Valley, goes under the hammer in three weeks at half the earlier price expectations.
Inspired by southern European vineyard estates, the<a href="https://jurds.com.au/listings/rural_sale-319321-pokolbin/" target="_blank"> 48 hectare Pokolbin holding comes with $15 million plus hopes</a>.
Chinese buyers have heard of the repricing which has triggered a spate of recent inspections by international visitors.
Cabernet Sauvignon and Shiraz vines cover a third of the estate which dates back to the colonial 1840s.
"Chinese interest in Hunter Valley vineyards is certainly back up to the levels we saw in late 2011 and early 2012," Jurds listing agent Cain Beckett said.
"It seems the recent Chinese stock market crash and threat of a devalued RMB has created the urgency to get money into safer havens and our falling dollar is why many investors are favouring Australia."
But he cautioned his experience over the last six months was that getting the funds out of China had become increasingly difficult causing lengthy delays with exchange and preventing some sales from completing.
Not just a winery and olive grove, the main residence is a stunning Mediterrean style construction that features private and guest wing accommodations.
Duncan Hardie's Sweetwater Wines purchased the land in 1997 with most of the vineyards dying or being grazed by cattle.
Hunter Valley wine veteran Brian McGuigan provided early advice on the layout and planting, having worked on the vineyard when he was about 18 years old.
It is being marketed by Alan Jurd of Jurds Real Estate as the "most significant country vineyard estate in Australia."
He expects a sale between $14 million and $20 million.
<a href="/expert-insights/investing/40314-sweetwater-the-world-class-hunter-valley-vineyard-estate-has-30-million-hopes" target="_blank">Alan had initially been asked to list it at over $30 million last year.</a>
<a href="/expert-insights/investing/40314-sweetwater-the-world-class-hunter-valley-vineyard-estate-has-30-million-hopes" target="_blank">"We are receiving a lot of enquiry and to date have had several inspections with buyers based in China," he said.</a>
Jurds Real Estate director Cain Beckett suggested the falling Australian dollar was one of the reasons for why the Chinese interest in Hunter Valley vineyards is back.
There was a spurt in Chinese activity in 2011 where The Golden Grape Estate, The Capercaillie and Windsors' Edge were all bought by Chinese investors.
Directors of the Chinese division of the marketing firm Amway bought a vineyard in 2013 for $3.8 million.
Cain said unlike 2011 and 2012 there was now strong competition from the Australian buyer spurred mostly by a strong Sydney property market and strong cattle prices.
He suggested cattle could be grazed supplementary to the vineyard but it would not be the primary use due to the strong reputation of the award-winning Shiraz produce.
Brian McGuigan has recently bought a Hunter Valley cattle farm.
Sweetwater Wines, part of the Hardie Holdings group, purchased the land in 1997 in Belford from Belford Pastoral Company, which was originally granted to the pioneering Richard Jones, a merchant and pastoralist.
In 1829 Jones had received 10,000 acres at Singleton in the Hunter Valley from where he established one of his finest vineyards in the Patrick Plains Shore at Sweetwater Creek off Old North Road. 
In 1844 from Jones’s first plantings, his vineyard produced a total of 2,000 gallons of wine. 
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Sweetwater, Pokolbin set to tempt Chinese buyers with price reduction

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GUEST OBSERVER
With the downturn of coal prices over the last three years and the contrasting rise in Sydney property values, places like the Hunter Valley have been easy targets for property commentators to hand out a belting to.
These same people either suffer from short memories or selective hearing for it wasn’t that long ago when regional locations like the Hunter were flourishing while most capital city property markets were floundering.
When we combine average annual changes in median property values with rental yields to calculate a ‘ total return’ over the last fifteen years, property markets of the local government authorities (LGAs) within Hunter Valley actually outperformed all of Greater-Sydney’s 43 LGAs and 29 of Greater-Melbourne’s 31 LGA’s. Cessnock (ranked 77 out of Australia’s 550 LGAs) was the Region’s best performed market. Also amongst Australia’s Top 40% were the LGA’s of Maitland (134th), Newcastle (175th), Singleton (209th), and Muswellbrook (220nd).
From the onset of the GFC in late-2008 through to the end of 2014, even with the coal industry downturn factored in, Hunter Valley property markets have still compared favourably against all capital city markets with the exception of Sydney and Melbourne.
<a href="/images/2016/02/08/HunterValley_PropertyPrices_2008-2014.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/HunterValley_PropertyPrices_2008-2014.jpg" alt="">
The Hunter Valley is a large region with a population approaching 700,000 people. The diversity of industries within the region are arguably the most interesting in Australia. With different property entry prices, rental yields, and industry drivers, there really is quite a contrast between each of the markets within the Hunter.
<a href="/images/2016/02/10/Newcastle_BldgApprovals_2001-2015.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/Newcastle_BldgApprovals_2001-2015.jpg" alt="">
Newcastle is heavy industry with some big manufacturers such as Boeing and BAE, plus Australia’s premier fighter jet base. Some of the largest reserves and best quality coal in the world is produced in the Upper Hunter and exported from the world’s largest coal export terminal at Newcastle to places like Japan, Korea, China, and Taiwan. Newcastle has the infrastructure and economic profile of a capital city, a median house price of $475,000 and rental yields of circa 4.5%.
On both a capital growth and rental return front, Newcastle has better investment potential than Greater-Sydney however, there are better locations elsewhere in Australia.
With median house prices in the low $400,000 and 4.5% yields, Port Stephens and Lake Macquarie are very much lifestyle locations and aren’t ever likely to set the investment world on fire.
<a href="/images/2016/02/10/CoalPrices_2004-2015.12.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/CoalPrices_2004-2015.12.jpg" alt="">
Maitland is also a largish regional town (population 75,000), very good quality retail and business services, a median house price of $400,000 and 5% rental yields. There is a bit of new supply in the pipeline, including a large Huntlee estate, which has the potential to keep a lid on growth for some years yet.
<a href="/images/2016/02/10/HunterValley_Jobs_2000-2015.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/HunterValley_Jobs_2000-2015.jpg" alt="">
The rich agricultural land, plentiful water supply, and rolling hills creates the perfect cocktail for wineries, tourism, and agriculture. Cessnock (winery country) has a median house price circa $300,000 and yields of 5% plus although employment can be patchy.
The coal mines are in the Upper Hunter. There is a much higher quality lifestyle component and greater diversity of industry to Hunter Valley mining compared to the coal fields of central Queensland. Singleton has a significant military base and Muswellbrook is horse stud country, manufacturing, and tertiary education facilities through the local TAFE. Median house prices and rental yields in Singleton and Muswellbrook are very similar to Cessnock however, I feel the potential for investors over the medium to long term is slightly better.
Contrary to perceptions, employment growth has been steady in Hunter Valley over recent years. Middle-Upper Hunter had a net loss of jobs in 2013 and 2014 and then rebounded in 2015, as shown in our chart. The industry diversity and lifestyle components helped to cushion property prices in the Upper Hunter from large falls in values as the mining industry workforce retracted with falling coal prices. Property prices in Australia’s coal-related markets peaked late-2012 and, since then, values in the LGA of Isaac (which consists of Moranbah and Dysart) have declined by 64% whereas Muswellbrook has experienced a very mild 9% decline.
Some of the largest companies in the world have invested billions of dollars in Hunter Valley. Coal is easily the World’s biggest source of electricity and is likely to remain that way (at least) for several decades. What many people don’t realise is that the BHP’s of the world have been extremely active behind the scenes with several mining expansion applications in the Upper Hunter over the last couple of years. While mining company revenues (coal prices) have come under pressure they have been very successful in reducing expenses (especially labour costs) and it is apparent that they are lining their ducks up to be ready to move as soon as the coal price curve turns again (we are much closer to the bottom than the top).
I recently purchased a property in the Upper Hunter for my own portfolio. I’m not anticipating spectacular growth in the short term however, there are very few locations throughout Australia that are set to roar right now. I’m a huge believer in selecting locations for their fundamentals and buying while the market is flat. This philosophy has enabled me to purchase the pick of the litter with this fully renovated 3-bedroom house for only $248,000.
I’m not advocating that every investor does this. For clients with smaller property portfolios there are several other locations which Propertyology would suggest that they purchase in first. My own strategy involved keeping my portfolio balanced by complimenting the exposure that I already have in other states and other industries.  This purchase represents a small capital outlay, at the bottom of the market, and a small exposure to an industry (coal) which has more upside right now than most realise (just ask the World’s biggest mining company, BHP).
<a href="/images/2016/02/10/HunterValley-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/HunterValley-2.jpg" alt="">
Simon Pressley is Managing Director of Propertyology, a REIA Hall Of fame Inductee, property market analyst, accredited property investment adviser, and Buyer’s Agent. <a href="https://www.propertyology.com.au/more-than-a-buyers-agent/">Propertyology works exclusively with property investors</a> to purchase properties in strategically chosen locations all over Australia.
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