As a first home buyer or investor, have you been contemplating purchasing either a one or two bedroom? Should there be an office space? Are energy efficient appliances and smart tech worth it? Or if you&rsquo;re just curious to know what other first home buyers are getting for themselves, take a look at the budget range and configurations other buyers are searching for on Urban.&nbsp;

According to Urban data, up to 57% of first home buyers in Victoria, New South Wales and Queensland prefer 2-bedroom configurations. This configuration is ideal for buyers as it accommodates the market&rsquo;s largest segment: young families with one or two children. Another factor to take into consideration would be the location. Being located close to university would be a good fit for students or an area that encourages a certain lifestyle for downsizers as there would be less commute time and more access to transportation.&nbsp;

According to <a href="https://www.vu.edu.au/mitchell-institute/tertiary-education/international-students-make-up-more-than-30-of-population-in-some-australian-suburbs">Mitchell Institute</a> from Victoria University,&nbsp;

&ldquo;The centre of Melbourne had the largest number of international students in the country &ndash; at almost 20,000, or 38% of the resident population. The neighbouring suburb of Carlton has the next largest with 9,600 or 39% of the population.&rdquo;

Smaller high-spec homes can give owner occupiers and downsizers a lifestyle improvement and low-maintenance living, while larger high-spec homes have the investment potential to earn better rental yields.&nbsp;

Here are some statistics to get an idea of the budget range from first home buyers from Urban in Australia.&nbsp;

For two bedrooms located in Victoria:

<ul class="rteindent1">
	<li>36% keep their budget within $600k-$800k</li>
	<li>32% keep their budget within $400k-$600k</li>
	<li>26% keep their budget up to $400k</li>
	<li>4% keep their budget within $800k-$1M</li>
	<li>2% keep their budget within $1M-$1.5M</li>
</ul>

Here are some 2-bedroom properties within these budgets that we think offer excellent value for money in Victoria:

FORME (from $600k)&nbsp;

[smartcode_project:default project_id=100322 project_image_fid=163026]

<ul>
	<li>13km from CBD, walking distance from Westfield Doncaster</li>
	<li>Quality finishes</li>
	<li>Close proximity to sought-after schools and transport</li>
</ul>

Sky Garden (from 668k)&nbsp;

[smartcode_project:default project_id=2881 project_image_fid=168781]

<ul>
	<li>30 mins from CBD</li>
	<li>Unique amenities including gaming rooms (mah-jong and billiard), private cinema, gymnasiums with yoga studios, tai chi areas, steam room, heated lap pool and more</li>
	<li>Connected to the revamped and modern The Glen shopping centre located right below</li>
</ul>

<h2>Why is NSW more expensive?</h2>

Due to limited supply in the popular inner NSW suburbs, competition has driven house prices up.&nbsp;However, NSW is a desired place to live and invest in with&nbsp;its&nbsp;competitive market due to homes proving to retain value.

New South Wales:&nbsp;

<ul class="rteindent1">
	<li>54% keep their budget up to $400k</li>
	<li>23% keep their budget within $400k-$600k</li>
	<li>15% keep their budget within $600-$800k</li>
	<li>8% keep their budget within $800-$1M</li>
</ul>

Here are some 2-bedroom properties within these budgets that we think&nbsp; offer excellent value for money in New South Wales:

Kew Schofields Stage 1 - Rose Garden (from 495k); Stage 2- Georgette (from 535k)

[smartcode_project:default project_id=6025 project_image_fid=52592]

[smartcode_project:default project_id=32227 project_image_fid=93951]

<ul>
	<li>Has quality community living, perfect for young families</li>
	<li>Primary schools and Tafe college closeby</li>
	<li>Private access to a courtyard</li>
</ul>

Destination (from 874k)

[smartcode_project:default project_id=8669 project_image_fid=71740]

<ul>
	<li>Prime location in Macquarie and close to transport</li>
	<li>Has large house-like proportion layouts for an apartment that makes the rooms more spacious</li>
	<li>Elegant design and finishes</li>
</ul>

<h2>What does QLD have to offer?</h2>

Known for their beautiful beaches and coastal living, does this imagery of living in QLD fit your dream lifestyle? 
According to <a href="https://www.livingin-australia.com/australian-house-prices/">Living in Australia</a>, the average cost for a house in January 2019 in New South Wales would be $955,000 and $737,000 for Victoria. Compared to New South Wales and Victoria, Queensland&rsquo;s average price for a home is $530,000.

Queensland:

<ul class="rteindent1">
	<li>60% keep their budget within $400-$600k</li>
	<li>23% keep their budget up to $400k</li>
	<li>14% keep their budget within $600-$800k</li>
	<li>3% keep their budget within $800k-$1M</li>
</ul>

Here are some 2-bedroom properties within these budgets that we think offer excellent value for money in Queensland:

The Coterie (from $537k)

[smartcode_project:default project_id=6257 project_image_fid=141422]

<ul>
	<li>Only 1.5m away from the CBD with views of Brisbane&rsquo;s skyscraper</li>
	<li>Luxurious interior that is well-thought of with design elements from St Pauls</li>
	<li>Close to a lively neighbourhood&nbsp;</li>
</ul>

The Catalina (from 549k)

[smartcode_project:default project_id=6517 project_image_fid=71245]

<ul>
	<li>At a central location of Surfers Paradise</li>
	<li>Open floorplan that blends indoor-outdoor living with Gold Coast&rsquo;s skyline</li>
	<li>On top of the usual amenities, they have a hydrotherapy shower, treatment rooms, private cinema, and more to promote wellness</li>
</ul>

Familiarising yourself with the different market valuations in the areas you&rsquo;re looking to purchase a home in, will help you to identify whether you&rsquo;re getting a good deal for your property purchase. You can use platforms like Urban to compare prices within a particular location, taking into account amenities and home configuration. To view all listings on Urban, have a browse at <a href="/developments">our projects</a>.

briana

Urban data compares 2-bedroom configurations around Australia: Which property is right for you?

St. A, a new residential development by Cedar Woods, is setting a new standard for living in the heart of St Albans. St A was designed by DKO and includes 254 residences that are aimed at providing homeowners with an upgraded lifestyle complete with modern conveniences and timeless style. Each home has been meticulously designed to provide functional open plan living spaces, a large storage capacity, and a seamless indoor/outdoor flow.&nbsp;

[smartcode_project:default project_id=7633 project_image_fid=80010]

<h2>1. St A offers great access to Melbourne CBD, shopping centres and Sunshine Hospital</h2>

<figure><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/maxresdefault.jpeg?itok=yWlRmixO" width="580" />

<figcaption>St. Albans Railway, <a href="https://www.youtube.com/watch?v=zQtXAK_P__0">source</a></figcaption>
</figure>

Residents will have easy access to the CBD as the St Albans Train Station is situated within walking distance. To go to the city, residents can either travel on the Sunbury line by train or on buses 408, 419 or 903. The city is also only a 20-30 minute drive away on the freeway. St A is also less than 10 minutes drive to Brimbank shopping centre, Keilor Central, and many more shopping centres. It is also good to know that the new upgraded Sunshine Hospital is less than 10 minutes by car.&nbsp;

<h2>2. St A is close to a variety of education, perfect for families and students</h2>

<figure><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/stalb_students-with-principal-093.jpeg?itok=7U7hfWNH" width="580" />

<figcaption>St Albans Secondary College, <a href="https://stalbanssc.vic.edu.au/">source</a></figcaption>
</figure>

For families or students looking to move into the area, there are a number of schools to choose from close to St Albans.

Some of the top education centres include:&nbsp;

<ul>
	<li>St Albans Primary School</li>
	<li>Victoria University</li>
	<li>St Alban Heights Primary School</li>
	<li>Willis Street Kindergarten</li>
	<li>St Alban Meadows Primary School</li>
	<li>Sunshine Park Estate Kindergarten</li>
	<li>Catholic Regional College St Albans</li>
	<li>St Albans Secondary College</li>
</ul>

<h2>3. Join a multicultural suburb and try new things</h2>

<figure><img alt="" class="image-article-full-width-580px" height="313" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/467815_sld.jpeg?itok=CJZYwMiN" width="580" />

<figcaption>Vietnamese &amp; Chinese Restaurant: Phi Phi 2, <a href="https://www.quandoo.com.au/place/phi-phi-2-57230/photos">source</a></figcaption>
</figure>

St Albans is a very multicultural suburb, which means that there are a variety of restaurants, bars and cafes. For an array of Asian cuisine, visit St Albans&#39; major shopping strip, Alfrieda Street, or Main Road West/East if you are looking for European and Middle Eastern cuisines. Grocery shopping will be easy as Woolworths and multiple asian grocery stores are within walking distance.&nbsp;&nbsp;

<h2>4. St Albans is a thriving community&nbsp;</h2>

<figure><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/st-albans-lunar-festival.png?itok=7de6vDej" width="580" />

<figcaption>Lion Dance at the St Albans Lunar Festival, <a href="https://www.dyob.com.au/suburbs/north-west/st-albans">source</a></figcaption>
</figure>

There are a lot of entertainment options available to St Alban residents. Head down to The Bowery Theatre and St Albans Community Centre (STACC) where they both host art and community venues available for performances, rehearsals, meetings, and events. For a casual scene, St Albans Hotel would be perfect for drinks and dinner in the bistro with live entertainment, pool tables, sport playing on a big screen and an indoor play area for your kids. Every January, 80,000 people gather at St Albans to celebrate the Lunar Festival to watch the Lion Dance and a fireworks display.&nbsp;

<h2>5. St Albans is an in demand suburb</h2>

According to <a href="https://www.realestate.com.au/neighbourhoods/st-albans-3021-vic " target="_blank">Realestate.com</a>, a medium house price at St Albans is $640,000 as of June 2021, and $350 per week for rent as of July. If you are looking to invest, renting at $350 per week would obtain a 2.8% annual rental return for homes. In the last 5 years, St Albans has experienced a compound growth rate of 7.2% for homes and 6.5% for apartment units. St Alban&rsquo;s demographic consists of 24.5% in independent youth and 28.8% in couples and families.&nbsp;

<h2>6. Enjoy the surrounding greenery and be closer to nature with a selection of nearby parks</h2>

<figure><img alt="" class="image-article-full-width-580px" height="265" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1476410867.55280.jpg?itok=moRCyCc2" width="580" />

<figcaption>Cairnlea Park, <a href="https://goodmigrations.com/city-guides/melbourne/cairnlea">source</a></figcaption>
</figure>

To briefly escape from the hustle and bustle of the city, parklands such as the Brimbank Park, Waterfield Park, Cairnlea Park, and Organ Pipes National Park are all within a 5 minute drive. To enjoy a coastal walk, Altona beach is only a 25 minute drive. Each home is also built with sustainability in mind to reduce the carbon footprint of the entire development, attaining a 6-star energy rating. This includes features such as rainwater tanks and double glazing on select residences.&nbsp;

There are a variety of two and&nbsp;three-bedroom townhomes currently available, with several design layouts to choose from including:&nbsp;

<ul>
	<li>Sapphire IV: A 3 storey 3 bedroom, 3.5 bathroom, a study and a double garage</li>
</ul>

<figure><img alt="" class="image-article-full-width-580px" height="410" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/0001.jpg?itok=PEvC3a3C" width="580" />

<figcaption>Sapphire IV</figcaption>
</figure>

<ul>
	<li>Argyle I &amp; II: A 2 storey, 2 bedroom, 2.5 bathroom and a carpark</li>
</ul>

<figure><img alt="" class="image-article-full-width-580px" height="410" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/0001_copy.jpg?itok=8xP57Jff" width="580" />

<figcaption>Argyle I &amp; II</figcaption>
</figure>

[smartcode_project:default project_id=7633 project_image_fid=32168]

If you can imagine a life in St Albans and enjoying all that the neighbourhood has to offer, then reach out to a sales agent via Urban today.

[smartcode_project_cta: project_id=7633]

7 reasons to consider buying a home at Cedar Woods' St A in Melbourne's north west

Melbourne residential tower K1,&nbsp;boasts&nbsp;360&deg; views with homes offering spacious garden balconies.&nbsp;DE Atelier Architects have designed three-bedroom sky homes with graceful, organic shapes, natural warm materials and luxurious interiors.&nbsp;

<a href="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_962,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-cd459faa3d88cc4d5e564b6bfbdbb45a.jpg" target="_blank"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_962,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-cd459faa3d88cc4d5e564b6bfbdbb45a.jpg" style="width: 1924px; height: 840px;" /></a>

Bergman &amp; Co. creates interiors with exceptional clarity of vision to instil warmth, sophistication, and timeless beauty through combining the use of moody tones, sunlight and French oak. These residences are distinguished by exquisite features such as a desk suspended from the ceiling for the workspace, as well as finer details such as rose gold tapware, and curved garden terraces.

The kitchen includes VZug kitchen appliances that were manufactured in Switzerland, Liebherr integrated fridges and Vintec 40 bottle wine fridges.

Bathrooms include Rogerseller fittings that have been carefully selected to represent a timeless contemporary design with quality materials, simplicity and craftsmanship.&nbsp;Bathrooms also include heated shower rails and tile insert shower grate.

These luxurious residences come in a light and dark theme, both of which include neutral palettes.&nbsp;

<a href="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_630,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-02a22cd197380352f9b9de4436b5a747.jpg" target="_blank"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_630,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-02a22cd197380352f9b9de4436b5a747.jpg" style="width: 1260px; height: 840px;" /></a>

THE MATERIALS USED:

<ul>
	<li>Black Odyssey Marble benchtop&nbsp;and splashback</li>
	<li>Bottega and Angora Oak</li>
	<li>Smokey grey mirror wall</li>
	<li>Rose Copper</li>
	<li>Matte finish wall tiles</li>
</ul>

The gardens of K1 Residences are a defining aspect of the stunning building&#39;s design, designed by award-winning landscape architecture firm, Aspect Studios. Layers of greenery add a lovely tracery of dappled light to the exterior&#39;s arcs and crescents. This lush greenery reflects Melbourne&#39;s best-loved suburbs&#39; gardens and tree-lined streets.

<a href="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_697,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-e7a591129cbf2a2a2082596a6d848a3a.jpg" target="_blank"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_697,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-e7a591129cbf2a2a2082596a6d848a3a.jpg" style="width: 1394px; height: 840px;" /></a>

The verdant terrace features timber and natural greenery for you to enjoy the space for relaxation and socialisation. K1 Residences&#39; ground floor transitions seamlessly from a clean contemporary interior to a vast and beautifully planted garden. Residents can now enjoy indoor and outdoor living because of its low maintenance and stunning architecture.&nbsp;

<a href="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_513,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-a368fe75e34312bc5adb8c91f6489d57.jpg" target="_blank"><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_fill,w_513,h_420,dpr_2.0,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/project-renders/k1-residences-1-union-street-melbourne-a368fe75e34312bc5adb8c91f6489d57.jpg" style="width: 1026px; height: 840px;" /></a>

Located with the perfect balance of serenity and vibrancy, K1&rsquo;s immediate neighbourhood is tranquil and picturesque. The greatest of Melbourne&#39;s restaurants, entertainment opportunities, markets, shopping, and places to relax are all within walking distance. K1 provides easy access to everything Greater Melbourne has to offer. Major highways and freeways are only a few minutes away, and public transportation is easily accessible.

[smartcode_project:default project_id=2772 project_image_fid=31757]

For more enquires on K1 Residences, please contact our agents via Urban.&nbsp;

The design details: Materials used to craft the recently completed K1 Residences

As a first home buyer, you might be asking yourself, will this property be worth it in the long run? Why is location so important? Will the property be profitable to sell in the future?

Choosing a good location is arguably one of the most important factors when choosing a home. Not only can it offer convenience and better liveability,&nbsp;but buying in a rising suburb can be a&nbsp;smart way to ensure your property will hold its value.&nbsp;We&#39;re going to walk you through some of the top location factors to consider when choosing your first home.

&ldquo;Location creates desirability, desirability creates demand, and demand raises property prices. If you cleverly choose the location of your new home, you will not just enjoy an improved lifestyle (think - better amenities, schools, transport, and so forth) but potentially profit significantly when it comes time to sell-up and move on.&rdquo;

<a href="https://gw.legal/articles/why-location-location-location-is-still-the-most-important-consideration-when-buying-a-home" target="_blank">GW Legal</a>, conveyancing specialists

First home buyers may consider an investment plan for their first home purchase, making location an important investment feature that can be valuable to increase rental opportunities and resale value in future. Here are eight&nbsp;location features you could consider:

<h2>1. Investment opportunity</h2>

<figure><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_1139707214.jpg?itok=xkZHpW63" title="Source: Shutterstock" width="580" />

<figcaption>Source: Shutterstock</figcaption>
</figure>

To maximize resale value, it can be wise to select a property in a sought-after location. Features to look for can include low noise, a well-maintained neighbourhood and streets with slight elevation for good drainage and sun.

Where possible, avoid close proximity to highways/train tracks, factories and utility lines. According to Gustan Cho Associates, &ldquo;buying a house next to power lines may decrease property value <a href="https://homeguides.sfgate.com/much-power-lines-lower-real-estate-value-2979.html" target="_blank">as much as 10% to 40%</a>&rdquo;.&nbsp;

Having easy access to public transportation, good schools, entertainment, retail, dining and recreational centres are key factors to consider. Having additional public transit choices available, whether in the CBD or the suburbs, means that the property could <a href="https://www.smartcitiesdive.com/news/property-values-thrive-near-transit-study-finds/564982/" target="_blank">become more valuable over time</a>&nbsp;as it becomes easier to commute to.

[smartcode_project:default project_id=5234 project_image_fid=84282]

Being near good schools gives parents that have school-age kids the opportunity to settle or rent out the property to a family. As a result, homes located in good school zones experience a higher growth compared to lower-ranked school zones.

Research from the Real Estate Institute of Victoria states how properties located within popular primary and secondary schools are able to secure sale prices above <a href="https://reiv.com.au/policy-resources/latest-news/top-performing-public-schools-leading-price-growth" target="_blank">$400k more</a> than properties outside those school zones.&nbsp;

<h2>2. Employment opportunities</h2>

<figure><img alt="" class="image-article-full-width-580px" height="387" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/shutterstock_614433167.jpg?itok=phLLncAl" title="Source: Shuttershock" width="580" />

<figcaption>Source: Shutterstock</figcaption>
</figure>

When there are new businesses opening in the area, this can boost job supply making the area a desirable option for job opportunities.

As businesses grow with the population of the area, there may be higher chances of the property increasing in value as there can potentially be amenities and entertainment that will develop alongside to cater to the population.&nbsp;

<h2>3. Infrastructure upgrades</h2>

Infrastructure projects (planned and under construction) can help in indicating a rise in housing demand.

[smartcode_project:default project_id=29358 project_image_fid=85966]

Social infrastructure that may attract buyers and families to an area includes: public transportation links that provide connectivity to the city, greater selection of educational facilities, upgraded utilities, or the addition of health services.

<figure><img alt="" class="image-article-full-width-580px" height="384" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_190368989.jpg?itok=Je3j24rm" title="Source: Shutterstock" width="580" />

<figcaption>Source: Shutterstock</figcaption>
</figure>

These may be reasonably certain indicators for finding tenants or future buyers. Areas, where the construction and mining sectors are entering or extending their operations, have the opportunity to attract jobs and workers to the region, which may offer potential long-term investment and capital growth opportunities.

<h2>4. Consider looking for property in fringe suburbs</h2>

If your first choice location is out of budget, neighbouring suburbs can be an excellent solution as they can provide cheaper entry points to the market.

Townhouses and family-friendly apartments can also be considered as a more affordable alternative to the stand-alone housing stock in high demand suburbs.

[smartcode_project:default project_id=29048 project_image_fid=151675]

<h2>5. Choosing the right suburb</h2>

<figure><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_1988193521.jpg?itok=-L58WU3l" title="Source: Shutterstock" width="580" />

<figcaption>Source: Shutterstock</figcaption>
</figure>

URBAN &amp; CITY

Pros:&nbsp;

<ul>
	<li>
	Love the bustle of the city
	</li>
	<li>
	Close to an abundance of entertainment, restaurants and nightlife
	</li>
	<li>
	Shorter commute times
	</li>
	<li>
	Many amenities nearby
	</li>
	<li>
	Great for walkability
	</li>
</ul>

Cons:&nbsp;

<ul>
	<li>
	Less space
	</li>
	<li>
	Noise pollution
	</li>
</ul>

COASTAL

Pros:&nbsp;

<ul>
	<li>
	Love the beach and its openness and fresh air
	</li>
	<li>
	Relaxed lifestyle
	</li>
	<li>
	Great place to raise a family
	</li>
	<li>
	Better work/life balance as a <a href="https://www.marketwatch.com/story/people-who-live-on-the-coast-are-typically-happier-than-those-who-dont-says-science-2019-10-01" target="_blank">study</a> from Exeter University found that living close to the sea is good for your mental health
	</li>
</ul>

[smartcode_project:default project_id=5559 project_image_fid=88243]

Cons:&nbsp;

<ul>
	<li>
	Higher maintenance costs due to exposure to sea air, strong winds, spot water damage, damp and rust problems
	</li>
	<li>
	Less privacy during peak season
	</li>
</ul>

SUBURBS&nbsp;

Pros:&nbsp;

<ul>
	<li>
	Often plenty of schooling options
	</li>
	<li>
	Can be more affordable
	</li>
	<li>
	Relaxed lifestyle
	</li>
	<li>
	Local amenities growing
	</li>
</ul>

Cons:&nbsp;

<ul>
	<li>
	Potentially longer commute
	</li>
	<li>
	Not as much entertainment, restaurants and nightlife compared to the city
	</li>
</ul>

<h2>6. Insurance premiums</h2>

Environmental hazards associated with the property&#39;s location should also be addressed, as insuring a property in a flood or bushfire-prone area may be more expensive, affecting your budget.

According to a recent assessment by the <a href="https://www.afr.com/property/residential/climate-change-predicted-to-wipe-571-billion-off-property-values-20190508-p51law" target="_blank">Climate Council</a>, climate change and extreme weather would cause the Australian property market to lose $571 billion in value by 2030.

Make sure to double-check to see whether the insurance covers all these hazards as it may not be the case for most properties.&nbsp;

<h2>7. Limitations on your property</h2>

<figure><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/shutterstock_375497461.jpg?itok=xbcDyYXM" title="Source: Shutterstock" width="580" />

<figcaption>Source: Shutterstock</figcaption>
</figure>

The Vegetation Protection Overlay (VPO), the Environmental Significance Overlay (ESO), the Significant Landscape Overlay (SLO), and the Heritage Overlay (HO) are four overlays that can be used to protect and manage vegetation in urban areas as part of Victoria Planning Provisions (VPP).

They will have limited relevance in urban areas with small lot sizes because they aim to avoid broad-scale clearance of vegetation.&nbsp;

Restrictions such as the Vegetation Protection Overlay (covered in some parts of Monash and Mornington Peninsula Planning Scheme) exist in order to protect current vegetation, encourage the regeneration of native plants and trees, and maintain and improve habitat for native wildlife.

It can be used on individual trees, groups of trees, or large expanses of vegetation. This will cause limitations to any property in a protected area that you may want to renovate.&nbsp;

<h2>8. Recency</h2>

<figure><img alt="" class="image-article-full-width-580px" height="387" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/shutterstock_525154717.jpg?itok=O3dK6E74" title="Source: Shutterstock" width="580" />

<figcaption>Source: Shutterstock</figcaption>
</figure>

When you have found your potential property, it is good to start looking for their comparable sales (also known in the industry as &ldquo;comps&rdquo;).

Comps are recently sold properties that have similar characteristics to the one you&rsquo;ve been looking to purchase or invest in.

When it is a good deal, the value can go up when you resell in the future due to infrastructure and other upgrades.

New houses or renovated houses in that area can also drive up the value as it may increase interest.

As a first home buyer, you might be asking yourself, will this property be worth it in the long run?

Home buyer guide: Location indicators to take into account when buying your first home

4 Ballarat Street is the latest Brunswick apartment development by Assemble Futures, with design by Fieldwork Architects and landscape design by Rush Wright.

The development places an emphasis on providing a seamless transition to the natural environment, with each apartment running on 100% renewable energy. The&nbsp;spacious outdoor areas and floor-to-ceiling glazing provide&nbsp;plenty of light to fill each living space and cross-flow ventilation.&nbsp;

4 Ballarat also aims to connect its community through the functional spaces on offer, including: rooftop area for residents to relax, multipurpose room, assemble space to host social gatherings, barbecue, herb &amp; veggie garden, dog park and lending library where the residents can share and lend their favourite books.&nbsp;

The building&nbsp;sits in the heart of Brunswick, a popular location for cafes and restaurants. Urban has taken a look at what&#39;s in the neighbourhood.

[smartcode_project:default project_id=94542 project_image_fid=160729]

When it comes to fantastic eat streets in Melbourne, I would place Sydney Road at the top of the list.

Tiba&#39;s (a Lebanese restaurant founded in 1983), Mediterranean Wholesalers, Project281 Cafe, a vast Italian supermarket, A1 Bakery (a famous family business founded in 1992), are all located here.

The Sydney Road precinct is a short walk from 4 Ballarat.

4 Ballarat is also within walking distance to Woolworths, ALDI, Coles, Chemist Warehouse, Bunnings, and RMIT University Brunswick Campus.&nbsp;

[smartcode_project:default project_id=94542 project_image_fid=160735]

Within a 10 minute walk are a number of&nbsp;outdoor and recreational activity sites, such as Clifton Park, Gilpin Reserve, A G Gillion Oval, and Brunswick Baths.

Residents are well connected to the neighbouring areas, and&nbsp;a 25 minute tram ride to Melbourne&#39;s CBD.&nbsp;

[smartcode_project_cta: project_id=94542]

The building sits in the heart of Brunswick, a popular location for cafes and restaurants.

Walking tour: What’s within walking distance from 4 Ballarat Street, Brunswick?

Townhouses fuse the convenience of apartments and their&nbsp;upgraded amenities with the advantages of investing in a stand alone property. According to <a href="http://ironfish.com.au/blog-news/look-buying-townhouse-tips-investors/">Iron Fish</a>&nbsp;- a company that builds confidence from data-driven investment insights,&nbsp;

&ldquo;A well-built townhouse in a good location usually sees stronger rental yields than houses in the same area. For investors seeking cash flow for their property portfolio, townhouses can be an appealing option when compared to a free-standing house&rdquo;

They are more inexpensive compared to free-standing residences as they hold more value for its use of land, making a promising long-term capital growth. Compared to existing properties, townhouses have low maintenance for their latest standards when it comes to comfort and entertainment. If you are looking for a townhouse located in Victoria, here are 5 of our top picks selling now.

<h2>1.&nbsp;<a href="/buildings/omnia-4-6-horscroft-place-moorabbin">Omnia</a></h2>

[smartcode_project:default project_id=29048 project_image_fid=151680]

[smartcode_project:default project_id=29048 project_image_fid=151679]

Starting from $465,000

Located in the heart of Moorabin - one of Melbourne&rsquo;s major suburbs, Omnia showcases a luxurious lifestyle featuring Roger Brayshaw&rsquo;s designs and renowned Sheffield property developer. Omnia&rsquo;s floor-to-ceiling sliding doors are ideal for a seamless indoor-outdoor lifestyle. Starting at $465,000, Omnia presents the best of both worlds with townhouses and apartments featuring sophisticated finishes and clean lines.&nbsp;

<h2>2.&nbsp;<a href="/new-townhouses/the-fabric-altona-north-188-198-blackshaws-road-altona-north-vic-3025">The Fabric&nbsp;</a></h2>

[smartcode_project:default project_id=22699 project_image_fid=70089]

[smartcode_project:default project_id=22699 project_image_fid=39042]

When designing The Fabric, Mirvac&rsquo;s award winning team prioritised comfort, style, functionality and sustainability. Their spacious courtyards are perfect for hosting your friends and family or to grow your own herb garden. The contemporary architecture is accompanied by floor-to-ceiling windows that maximises natural light. The Fabric also offers a range of intelligent and flexible home designs for optimal personalisation.

<h2>3. <a href="/developments/doncaster-vic-3108">Tullamore Homes</a></h2>

[smartcode_project:default project_id=22803 project_image_fid=53579]

[smartcode_project:default project_id=22803 project_image_fid=53580]

Located in Doncaster, Tullamore Homes by Mirvac has private and public schools closeby with convenient transport routes to University of Melbourne and Deakin University. Tullamore Homes feature contemporary and functional open spaces, as well as walkable trails with 20% of the site dedicated to nature. It is in walking distance to Westfield Doncaster, has over 400 stores, including cafes, restaurants, cinemas, department stores, supermarkets and fresh food markets. Within the Tullamore community, the new&nbsp;dog-friendly caf&eacute;,&nbsp;Stables Providore Caf&eacute;, has had great responses from the community and is open during lockdown for takeaway and dine-in service.&nbsp;

<h2>4. <a href="/new-townhouses/luma-sunshine-north-247-st-albans-road-sunshine-north-vic-3020">Luma</a></h2>

[smartcode_project:default project_id=27783 project_image_fid=96894]

[smartcode_project:default project_id=27783 project_image_fid=96896]

Starting from $515,000

Luma&rsquo;s urban townhomes are perfect for homebuyers that are looking for a property for long-term living and low maintenance. Luma features solar panels and battery storage that help reduce your carbon footprint and energy bills, it&rsquo;s a win-win for the planet and homebuyers! With community in mind, masterplanning agency, RobertsDay, also included a 3,600 square meter park for residents and the broader community that includes a playground, barbecue areas and walking tracks.

<h2>5.&nbsp;<a href="/buildings/haven-townhomes-42-homeleigh-road-keysborough">Haven Townhomes</a></h2>

[smartcode_project:default project_id=8082 project_image_fid=59639]

[smartcode_project:default project_id=8082 project_image_fid=59637]

Situated in a residential neighbourhood to create optimal community lifestyle, Haven Townhomes spoil their residents with tranquil areas to relax. Haven Townhomes is located close to sporting and education facilities, shops, services, roads and transport. Equipped with European Artusi kitchen appliances that motivate cooking for family and friends. Haven Townhomes&rsquo; exterior is filled with luscious landscaped gardens, fences and driveway. With 80% sold in stage 1, Haven Townhomes has everything you need at your doorstep.&nbsp;

The convenience of apartments and spaciousness of free-standing homes: 5 townhomes you’ll love in Melbourne’s outer suburbs

Brisbane-based builder-developer <a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a> has secured approval for its $250 million Newstead apartment tower.

The building, at <a href="https://www.apartments.com.au/new-apartments/16-22-maud-street-newstead-qld-4006">16-22 Maud Street</a>, will have 103 apartments across the 15-level building which will be crowned with a rooftop wellness facilities.

Residents will range from expansive two-bedroom residences, through to several penthouses on level 15. There will be 1,380 sqm&nbsp;dedicated to wellness-inspired amenities including shaded outdoor dining nooks, a fire pit, barbecue area, sunset lounge, gym, yoga deck, magnesium lap pool, sun deck, a sauna, steam room, and cold plunge pool.

BPG put together the 2,430 sqm super-site combines three separate titles – a vacant warehouse, an electrical &nbsp;wholesaler and an industrial shed, which were acquired in two separate transactions over a 12 month period. &nbsp;

<img alt="BPG Developments secures development approval for $250 million Newstead project" data-entity-type="file" data-entity-uuid="d007d4fb-9c44-4e54-b79e-50b68711ebbd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Final%2012_Podium%20Plaza%20View_r.jpg?VersionId=w6zql5hPjAp3j1..ZTCaYLzN65Ora8Z2" />

BPG was founded by industry veterans Nick Parr and Glen Williams. Parr said the project feels like a "coming home of sorts" for the pair, as they've both spent&nbsp;both spent the majority of their lives living in Brisbane's inner north. &nbsp;

“I lived just up the road in Teneriffe for most of my childhood," Parr said.

"We saw this site as an opportunity to deliver a timeless project in arguably Brisbane’s most popular suburb, where &nbsp;the standard for luxury design and amenities is incredibly high."

Parr believes Brisbane is in a bit of a "sweet spot" currently, in that&nbsp;construction prices have stabilised and demand has continued to climb which means the market is tightening up.&nbsp;

“The Brisbane market is unique in that there is no shortage of sites with existing development approvals, the issue is around the availability of builders who can deliver such projects. We are one of the few builder-developers who can build our own projects at scale &nbsp;so we are able to move quickly into delivery mode which gives confidence to our purchasers.” &nbsp;

Williams said they are proud of the project both&nbsp;in the sense of the significance of the site, but also in the quality and timelessness of the design. &nbsp;

“At BPG Projects we are conscious to prioritise quality over volume, so we tend to &nbsp;approach one project at a time," Williams said.

“For us we are motivated by creating a lasting legacy in our projects, so working with Plus &nbsp;Architecture to realise this vision has been a rewarding journey.” &nbsp;

BPG has appointed MOTIV to handle the sales and marketing of the new tower, which is expected to launch early next year. MOTIV Founder Carly Cottam said the project epitomises everything Newstead is about.

"Newstead is a huge success story in the revitalisation of Brisbane, and as a result it’s now one of the most popular inner suburbs, characterised by its exceptional urban design and wellness-driven lifestyle," Cottam said.

“We know this market values flexibility in floorplates, abundant storage and really liveable &nbsp;kitchens and interiors. That’s why designing an entire building around the owner occupier market with 100 &nbsp;percent of the floorplates representing two or three-bedroom residences mean this project is primed to appeal to the right audience.” &nbsp;

BPG completed Sable Palm Beach on the Gold Coast in 2019, and has plans for more developments in the suburb, as part of their $500 million development pipeline.

Joel Robinson

BPG Developments secures development approval for $250 million Newstead project

With three projects currently in market in Elizabeth Bay and Mosman, two of which are under construction and completing next year, apartment developer Toohey Miller is expanding its new development pipeline across Sydney.

<a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a>, led by Nick Couloumbis, has filed plans for <a href="https://www.apartments.com.au/new-apartments/oxford160-160-oxford-street-paddington-nsw-2021">Oxford160</a>, 44 new apartments across a nine-storey building on Oxford Street in Paddington. It will have 12 apartment designated as affordable housing as per the Housing SEPP 2021 mid-rise reforms which trigger increased height limits, and street-level retail spaces.

The vision for the project is to create a "welcoming and family-friendly place to live with a mix of quality and affordable homes to support the Paddington community at different life stages."

Designs prepared by Smart Design Studio outline a contemporary, articulated streetwall along Oxford Street, stepping back at the upper levels to mitigate bulk and improve visual integration with the local character. A new laneway will improve pedestrian connectivity to Shadforth Street, while communal open spaces are integrated at both ground and rooftop levels.

<img alt="Oxford160" data-entity-type="file" data-entity-uuid="0d6e77ed-8c25-4c52-a82d-dd076c66c777" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-01%20at%209.52.46%E2%80%AFAM.png?VersionId=hjYcxIWIDOn7JWeom6RzIz7MWc1VG6HF" />

According to the Urban Design Supporting Letter prepared by architect and urban designer Matthew Pullinger, the new scheme “represents a contextually sensitive, responsive and high quality renewal of the site and the broader urban landscape”.

Pullinger said there are a range of benefits to the project, namely its contribution to the renewal of "this part of Oxford Street as a distinctive higher density urban high street and a defining element of greater Sydney’s urban character, thereby enhancing the vitality and liveability of this important street."

The new building will replace&nbsp;a dated 1960s-era apartment block which has 27 studio apartments.&nbsp;Design documents note that the current structure detracts from the character of Oxford Street, with the proposal seeking to restore and enhance the continuity of active shopfronts along the northern edge of the street.

The last project to launch on Oxford Street sold out immediately. It was fashion legend Robby Ingham's The Cambrian, which sold all of its 15 apartments in the first five hours of its weekend launch in 2023 through Ben Stewart.

Toohey Miller plans rare new apartment development on Oxford Street, Paddington 

<a href="https://www.apartments.com.au/developers/geocon-group">Geocon</a>&nbsp;is advancing its plans for its new&nbsp;mixed-use precinct in Braddon, updated the designs for the prominent site at the intersection of Northbourne and Wakefield Avenues.

The Canberra-based developer is proposing 558 apartments and seven commercial tenancies across four buildings under a staged application first lodged in 2023. The project also includes four levels of basement parking, communal spaces, pedestrian links, and landscaping enhancements.

While the development’s scale remains consistent, the current amendment introduces extensive changes to apartment layouts, building envelopes, façade articulation, and basement design.

According to the Design Statement by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, these adjustments were driven by two core objectives: “enhancing apartment and common area amenity” and “ensuring acknowledgement of the housing design guidelines, entity advice, and planning expectations, while retaining the integrity of the original architectural concept”.

<img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="066194ad-d73f-49b7-8e39-09e20690a7ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202.png?VersionId=I7eLnim8erdwd2Yu1N5sIcLSndeOK_TC" />

The revised apartment mix has been rebalanced to increase diversity and affordability, including a broader range of unit sizes and a higher proportion of three-bedroom dwellings. The updated design also removes problematic layouts, such as “snorkel” bedrooms and internalised studies, to improve liveability and natural light access.

Cox Architecture noted that “studios and smaller one-beds provide entry-level housing and broaden affordability,” while the number of family-sized three-bed apartments has been increased “in direct response to market demand and policy objectives”.

The circulation spaces within the towers have been redesigned to improve wayfinding and daylight penetration, while the ground floor layout has been reworked to create clearer and more visible entry points, particularly from Northbourne Avenue.

Refinements to the building’s massing and façades have also been introduced in response to planning feedback, with additional breaks and articulation to reduce perceived bulk. “Rooftop plant and lift overruns have been integrated and screened, resolving visibility concerns,” COX stated.

Basement levels have been consolidated and made more efficient, with improvements to bike and storage facilities.

<img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="a1ab9357-707d-46fd-95d7-d6e09c70f20b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%203.png?VersionId=crDXvrmDsGqFGcb_p6NSUlsr0vYsRacq" />

The precinct’s pedestrian connections have been clarified, and the public realm has been restructured to improve permeability and align with the broader Northbourne corridor urban design framework. Landscaping updates include increased deep soil zones and rooftop communal areas, with tree management to be addressed separately.

Geocon acquired the 10,633 sqm site earlier in 2023 following approval of a prior build-to-rent scheme by Evri Group. The existing nine-storey commercial building was demolished in 2022.

The current proposal, designed by Cox Architecture, is positioned as a key contributor to the ACT Government’s urban renewal vision for Northbourne Avenue, an established transport and development spine served by light rail and major arterial roads.

First look: Geocon refines plans for four-tower precinct on Braddon's Northbourne Avenue

The booming Bilinga beachfront is set for another luxury apartment development, with plans filed for KYRR, an 11-level block on the dress circle Pacific Parade.

<a href="https://www.apartments.com.au/new-apartments/kyrr-70-pacific-parade-bilinga-qld-4225">KYRR</a>, on the corner of Pacific Parade and Archer Street, will comprise 24 apartment on its prime 1,009 sqm site. There had previously been plans for a much more boutique seven-storey, five-unit scheme.

Plans have been pitched by CHM Living, an entity associated with James Quinert, the founder of Norwood Constructions which is based in Melbourne.

<img alt="70 Pacific Parade and 1 Archer Street" data-entity-type="file" data-entity-uuid="2f6159ee-3511-4b16-b9fa-ae8c008b8faf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_5.png?VersionId=4n2YaBQdjXcshUAkxX8ei9X5N0v2AWqB" />

Designed by <a href="https://www.apartments.com.au/architects/byculprit">ByCulprit Architects</a>, the project includes a sculptural façade with soft curves and natural finishes, inspired by the rhythm and calm of the nearby Pacific Ocean.

According to the Town Planning Report by Town Planning Alliance, the project aspires to reflect the intent of the Medium Density Residential zone, aiming to "contribute to the city’s iconic skyline along the coastal spine" with a high degree of architectural modulation and landscaping that softens the built form.

There will be 22 large-scale three-bedroom apartments and two five-bedroom penthouses. The wellness amenities, including a gym, steam room, sauna, pool, golf simulator, and cold plunge, will sit on level one.

Kyrr will follow in the footsteps of <a href="https://www.apartments.com.au/buildings/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225">PIPIS</a> in Bilinga by SIERA, which is all but sold out with just one of its luxury 19 apartments left to sell. The building set suburb records, with the penthouses both selling for over $8 million. Down the road is Bilinga House, which has a wider mix of configurations and price points starting from just over $1.2 million.

First look: Bilinga beachfront set for new luxury apartment development, KYRR

<a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a> has received development approval for Archer &amp; Albert, a 32-storey, mixed-use residential development in the heart of Chatswood.

Located at 57–61 Archer Street and 34 Albert Avenue, <a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> will deliver 150 new homes, including affordable housing, alongside ground-floor and podium retail, commercial space, a heritage house activated as a café, additional ground-level activation, and a landscaped publicly accessible park designed for community use.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> is one of the few large-scale residential developments in the heart of Chatswood City to progress through a council-led architectural design competition and secure development approval, positioning it at the forefront of design led housing.&nbsp;

<img alt="Archer" data-entity-type="file" data-entity-uuid="33cb754a-1493-4203-bd16-096d320597f6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C03_EXT_StreetScape_ID1.jpg?VersionId=oLUPFVAMxuRUTH1Bwki16R48cEo.vLeB" />

Designed by global architecture practice <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, long-term collaborators of the Coronation team, the project draws inspiration from the Sydney Blue Gum High Forest and the leafy character of the South Chatswood Heritage Conservation Area. The design integrates a restored heritage-listed home and establishes a landscaped connection between Chatswood’s urban centre and its surrounding residential neighbourhoods.&nbsp;

“This is an important project for us and our first entry into the North Shore,” said Joe Nahas, Managing Director of &nbsp;Coronation Property.&nbsp;

“We are deliberate about where we invest and build, <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a> stands out because the fundamentals are already strong. Transport, employment, education, retail and health are all in place. Archer &amp; Albert is about adding new housing into a centre that already works and building on what exists.”&nbsp;

<img alt="Chatswood" data-entity-type="file" data-entity-uuid="620fcd78-00be-489b-823a-ca353387b91b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C04_EXT_PARK_HA_ID2.jpg?VersionId=NxSl04Zl1rzt94xlXNA6CNzSR9XMyLgP" />

Aras Labutis, Head of Urban Transformation at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said the project reflects a disciplined, collaborative approach to city shaping.&nbsp;

“Chatswood sits at an important junction between high-density commercial activity and established residential &nbsp;neighbourhoods," Labutis said.

"Our focus for Archer &amp; Albert was to manage that transition carefully, respecting what’s already there &nbsp;while contributing something new that feels deliberate and enduring."

The approved scheme delivers:&nbsp;

<ul>
	<li>A 32-storey mixed-use tower comprising 150 homes, including 41 affordable housing dwellings • 530sqm of ground-floor retail, dining and commercial offerings&nbsp;</li>
	<li>A 760sqm wellness tenancy integrated within the podium&nbsp;</li>
	<li>A restored heritage building, thoughtfully reimagined as a café overlooking the park&nbsp;</li>
	<li>A landscaped public park, designed as a calm green retreat in the heart of Chatswood&nbsp;</li>
	<li>Resident amenities include a premium gym, golf simulator, mahjong room, dedicated wellness areas, private &nbsp;dining facilities and a curated wine room&nbsp;</li>
	<li>Deep private balconies designed to capture outlooks and northern light&nbsp;</li>
	<li>A refined material palette of natural stone, timber and terracotta&nbsp;</li>
</ul>

[smartcode_project_cta:default project_id=29796]

Briana Lee

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Briana Lee

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