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I noticed in the link provided that Mirvac is building apartment in that area as well. Mirvac has a good reputation and my REA friends said (for Sydney) the Mirvac units holds value pretty well even in a sea of units around them. Have a look at the Mirvac prices, and if it is the similar pricing...

I can see in past sales at Newstead for 2 bedrooms for last 4 months, it ranges from 425K - 850K. So it depends on your unit itself. Sometimes sales of million dollar penthouses can skew the median price of units.