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For the first time in 35 years, a Hamilton Hill home in Brisbane is being offered up for auction this week, having last sold for $60,000 in 1979.
The property, <a href="https://www.eplace.com.au/property.cfm?propertyID=2536483&amp;realestate=24_Hillside_Crescent_Hamilton_QLD_4007" target="_blank">24 Hillside Crescent</a>, sits on 506 square metres with no sales prior to its last sale. The house, built in the mid-to-late 1930s by the Queensland timber merchant W.S. Brett was designed for the merchant himself. At the time, it was covered by The Courier-Mail as a significant property.
The three-bedroom, two-bathroom 80 year old home retains a number of its historical features, including leadlight awning doors, polished cedar timber floors and high decorative ceilings.
Marketing the home is Sherrie Storor of Place, who said that this was a rare opportunity.
“This house occupies an elevated position on Hamilton Hill and has a wide frontage with panoramic sweeps down both reaches of the Brisbane River and onto the city skyline,” said Storor.
“The home was designed to co-exist with its amazing position, with the floor plan oriented to take full advantage of the amazing Brisbane scenery from nearly every room.”
It has formal and informal living areas, patios, an in-ground Jacuzzi and a terrace.
It is looking for buyers who are open to restoring the home, with renovations required on the home.
“There is ample scope to renovate this home and restore its historic beauty while adding instant value,” she said.
There has already been substantial interest from buyers, and the expectation is for some fierce bidding later on today.
“We’re confident the property will sell – in fact, we are under instructions from the vendor that the property must be sold,” she said.
The auction will take place on Thursday at 6.30pm at the Place head office in East Brisbane.
RP Data's 'land value' section from June last year puts the price at $1,150,000.
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jduke-EHk3XBmHkn

Historic Brisbane, Hamilton Hill home up for auction

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Almost 50% of first home buyers from Generation Y want early access to their superannuation or for their employer to salary sacrifice, to fund a deposit, according to <a href="https://www.mozo.com.au">Mozo.com.au</a>’s research.
In a survey undertaken to launch Mozo’s new First Home Buyers Hub, first home buyers were asked how they would prefer to fund their home purchase if given the option.
The majority, at 49%, were prepared to save diligently. If you’re one of these first home buyers, you can see some savings tips over the page.
However, 22% were keen to borrow the full purchase price without a deposit.
Here are the results from Mozo:
<img src="data:image/png;base64,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" alt="">
Mozo director Kirsty Lamont said that it’s interesting to see which option first home buyers would choose when facing increasing property prices.
“It’s clear Gen Y feel it’s unattainable to enter the property market by saving alone, and want the Government to seriously consider superannuation as the solution,” said Lamont.
“Using superannuation to fund property sounds good in theory but it’s not the silver bullet for first homebuyers,” she said.
She noted that first home buyers have to consider stamp duty, mortgage interest, maintenance costs and the lost returns the super could have earned.
“With this seemingly quick fix what’s also lost is the important discipline of regular savings, which can become a harsh reality when the mortgage repayments start,” she warned.
For those interested in Mozo’s savings tips, turn the page.
<hr class="system-pagebreak">
 
With almost 50% keen to go the traditional route and save the funds for a deposit, Lamond suggests living off one salary if buying as a couple, or selling off unnecessary assets such as a second car.
Moving in with the parents may also be an option, she says, noting these are temporary choices.
They also suggest:
<ol>
<li>High interest savings accounts 
</li>
<li>Setting a budget 
</li>
<li>Getting a second job 
</li>
<li>Ditching credit cards 
</li>
<li>Selling old items online</li>
</ol>
You can <a href="https://mozo.com.au/first-home-buyers/rip-first-home-saver-accounts-what-now-for-deposit-savers" target="_blank">see more of their tips here</a>.
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Almost a quarter of Gen Y first timers want no deposit home loan

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George J Nowak, of the Charterhill Group, has filed for bankruptcy after the Federal Court in Adelaide froze his assets and those of his wife back in February.
At the time, the <a href="/news/federal-court-freezes-assets-of-charterhills-george-nowak">court had ordered the surrender of their passports, and restricted their travel outside of the country</a>, while ASIC investigated the collapse of the Charterhill Group.
The Charterhill Group specialized in assisting clients to invest in property with their SMSFs. This left nearly $6 million of super at risk.
Macks Advisory’s Peter Ivan Macks has been appointed as Nowak’s trustee, and he has advised that the bankruptcy came following an appointment of liquidators to companies within the Charterhill Group Lending Solutions International Pty Ltd and Nova Real Estate Pty Ltd.
Nowak, who lodged a statement of affairs with the trustee, listed 31 companies he was director and/or shareholder of.
The statement of affairs was signed and dated 30 June 2014, and lodged with the Debtor's Petition on the same day. The Debtor's Petition was accepted on 2 July 2014.
It is noted that unsecured creditors totals approximately $7 million. This includes a claim in his estate, brought by Nova Real Estate’s liquidators – of approximately $6 million.
Investigations are underway, but return to creditors at this stage is unlikely.
The following companies in the Charterhill Group were placed under external control in February:
•    Lending Solutions International Pty Ltd – liquidators appointed (Andrew Heard and Anthony Phillips of Heard Phillips)
•    Nova Real Estate Pty Ltd – external administrators appointed (Andrew Heard and Anthony Phillips of Heard Phillips)
•    EJ Property Developments Pty Ltd – receivers and managers appointed (Michael Basedow and Leigh Prior of Pitcher Partners)
•    Financial Wellness Pty Ltd – receivers and managers appointed (Michael Basedow and Leigh Prior of Pitcher Partners).
YOU MAY ALSO WANT TO READ
Investor update: <a href="/news/investor-update-charterhill-issues-clients-apology-after-closure">Charterhill issues clients apology after closure</a>
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Charterhill's George Nowak files for bankruptcy following liquidation of companies

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A one-off $7,000 payment to those relocating to a regional area finishes today in New South Wales. The Regional Relocation Home Buyers Grant is a payment provided to those relocating from a metropolitan to a regional area, and is noted as not meeting the Government's objectives.
Available to Australian citizens and permanent residents, to receive the grant the applicant must have purchased a regional property on or after 1 July 2011, and on or prior to 30 September 2014.
The regional home must not exceed $600,000, or $450,000 for vacant land.
The applicant must begin living in the regional property within 12 months of purchase, and reside in the property for 12 continuous months. For those purchasing vacant land, they must commence construction within six months and reside in the home within 12 months of purchase date.
You must also have owned and occupied a metropolitan home as a principal place of residence in the 12 months prior to commencing the purchase, and it must be sold in the 12 months prior or after purchase.
Alternatively, those renting homes in a metropolitan area for 12 months prior to purchase, and who can establish a two-year continuous rental history in metropolitan areas, can apply. This was only valid from 1 January 2014.
Applications submitted from 1 January also required the purchased regional property to be further than a 100 kilometre radius from the metropolitan home.
Prior to 2014, only one grant was available per household, even if two regional properties were purchased. However, since 1 January, if two regional properties are purchased and both applications qualify then two grants may be achievable. No value limit is placed on the sale achieved on the metropolitan home to receive the grant.
The Skilled Regional Relocation Incentive, offering $10,000, is also closing today after commencing this year.
A note on the Office of State Revenue website says that despite the closing of these grants, the Government is considering a re-introduction of the Skillled Regional Relocation Incentive, with applications backdated to 1 October 2014. The Regional Relocation Home Buyers Grant, however, will not be re-introduced.
"The Regional Relocation Home Buyers Grant has not been as effective in meeting the Government’s objectives as the Skilled Regional Relocation Incentive. For this reason, the Government is ending the Regional Relocation Home Buyers Grant. As the Regional Relocation Grants Act 2011 does not provide for partial closure of the scheme, both schemes must be closed," they explain.
If you've relocated prior to today and haven't yet applied, you are still able to provided you do so before 31 December 2015.
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New South Wales’ Regional Relocation Home Buyers Grant ends today

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Vendor discounting figures are regularly collected by research house SQM Research. Now, they’ve compiled the 10 most discounted individual properties in Western Australia.
They note that Western Australia is a locality that has undergone substantial change in recent years for residential property, with the mining boom and subsequent downturn.
“Many of the properties we see below can be easily recognized from our national top ten most discounted properties, as over the past few months, Perth properties (and other properties from Western Australia) have made up the bulk of the list,” their research notes.
Just one of the homes on SQM Research’s Western Australian list had an initial asking price below $1 million, which is certainly not the norm for discounted properties across the country. After discounting, just two dropped of the Western Australian properties dropped below the seven figure mark.
Across the entire list, two were from South Perth, with the top two in Carabooda.
<a href="https://www.realestate.com.au/property-residential+land-wa-carabooda-200627671%20" target="_blank">292 Carabooda Road, Carabooda</a>
<img src="/images/2014/10/1/1.jpg" alt="">
Initial asking price: $1,650,000 Now asking: $1,032,000  Discount: 37%  Days on market: 404 <a href="https://www.realestate.com.au/property-house-wa-carabooda-114289451" target="_blank">219 Bernard Road North, Carabooda</a>
<img src="/images/2014/10/1/2.jpg" alt=""> 
Initial asking price: $3,500,000 Now asking: $2,272,000  Discount: 35%  Days on market: 404 In terms of the dollar figure, this has been reduced by the most on the list – copping a $1,228,000 reduction on asking price. <a href="https://www.realestate.com.au/property-unit-wa-bicton-115389839">28a Malsbury Street, Bicton</a>
 <img src="/images/2014/10/1/3.jpg" alt="">
Initial asking price: $1,500,000 Now asking: $1,000,000  Discount: 33%  Days on market: 308 <a href="https://www.realestate.com.au/property-house-wa-doubleview-116544475" target="_blank">1 Princess Road, Doubleview</a>
<img src="/images/2014/10/1/4.jpg" alt="">
Initial asking price: $2,700,000 Now asking: $1,800,000  Discount: 33%  Days on market: 175 <a href="https://www.realestate.com.au/property-house-wa-yanchep-115004491" target="_blank">48b Brazier Road, Yanchep</a> 
 <img src="/images/2014/10/1/5.jpg" alt="">
Initial asking price: $985,000 Now asking: $699,000  Discount: 29%  Days on market: 350
This article continues on the next page. Please click below to continue.
<hr class="system-pagebreak">
 <a href="https://www.realestate.com.au/property-apartment-wa-south+perth-113923551" target="_blank">12/4 Scott Street, South Perth</a>
<img src="/images/2014/10/1/6.jpg" alt="">
Initial asking price: $3,650,000 Now asking: $2,600,000  Discount: 29%  Days on market: 481 <a href="https://www.realestate.com.au/property-duplex+semi+detached-wa-burswood-116984079" target="_blank">21b Hampton Street, Burswood</a>
<img src="/images/2014/10/1/7.jpg" alt="">
Initial asking price: $1,400,000 Now asking: $1,000,000  Discount: 29%  Days on market: 126 <a href="https://www.domain.com.au/property/for-sale/townhouse/wa/perth/?adid=2010865160" target="_blank">211 Bulwer Street, Perth</a>
<img src="/images/2014/10/1/8.jpg" alt="">
Initial asking price: $1,500,000 Now asking: $1,100,000  Discount: 27%  Days on market: 930 Of all the properties on the list, this one has been on the market for longest – at 930 days. <a href="https://www.realestate.com.au/property-house-wa-sorrento-116607811" target="_blank">2 Marine Terrace, Sorrento</a>
<img src="/images/2014/10/1/9.jpg" alt="">
Initial asking price: $3,990,000 Now asking: $3,000,000  Discount: 25%  Days on market: 161 <a href="https://www.realestate.com.au/property-apartment-wa-south+perth-114534271" target="_blank">32/39 South Perth Esplanade, South Perth</a>
<img src="/images/2014/10/1/10.jpg" alt=""> 
Initial asking price: $1,295,000 Now asking: $990,000  Discount: 24%  Days on market: 406
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The top 10 most discounted properties in Western Australia: SQM Research

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A continuining drop in first home buyer numbers has chief executive of the Real Estate Instute of Western Australia (REIWA), Neville Pozzi, warning the government not to introduced any stamp duty increases for first timers.
He said that this drop should come as a budget warning to the state government.
“Given that first home buyers are dropping in numbers, it’s critical that the Treasurer doesn’t bring back stamp duty for this segment of the market,” Pozzi said.
Currently, first home buyers in Western Australia are exempt from stamp duty payments for homes under $500,000.
“It’s very concerning, however, that Premier Barnett has indicated that the current tax break for first home buyers is under review and might be changed,” he said.
“The housing market is very susceptible to cost pressures and making first homes more expensive would be a terrible blow to the market just as it’s starting to stabilise,” he said.
FHOG applications for the March quarter, as recorded by the Office of State Revenue, recorded a 9% drop. This is 21% below the June 2013 peak.
This drop is across both the established and new-build sectors, with established homes dropping by 14%.
“This means that grants being paid out have now fallen below the average since the FHOG was first introduced 14 years ago,” he said.
He noted that the "last thing" the market needs at present is any added cost pressure on first time buyers.
The median purchase by first home buyers in March was $470,000 in Perth, and $350,000 in regional Western Australia.
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REIWA chief executive warns against FHB stamp duty introduction

SMSF ‘SuperHelp’ magazine advertising on ASIC's radar after 'free' claims

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Located on Lees Road, Robertson, just off of Jamberoo Mountain Road, is Temenos. The name, which means “sacred space”, is apt for this 220 acre offering with multiple uses that the listing believes an entrepreneur will snap up.
The <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/acreage-rural-robertson-nsw-2577/208107" target="_blank">multi-use site has views of the ocean, lake and escarpment</a> from Botany Bay to Shellharbour.
<img src="/images/2014/03/24/2.jpg" alt="">
It offers two irrigation licences, six natural springs on the property, a mineral water licence and a DA for a water bottling facility on the site. It also mentions that since July 2011 the government is not issuing any more water licences. The water has just 68 Total Dissolved Solids and no coliforms, bacteria, arsenic, nitrates, suphates, which is said to be a rarity.
The site also has tourism opportunities, with the start of the historic Butter Track beginning at the property’s northern end. Jamberoo was home to Australia’s first butter co-operative factory, which opened in 1884.
<img src="/images/2014/03/24/3.jpg" alt="">
The land, 750 metres above sea level, is located near six national parks and six waterfalls, and the suggestion is for eco-cabins or glamourised camping. The site comes with an American barn and hut.
The site could also be used for potato growing, truffles and as grazing land, with red basalt soil striking across the property.
<img src="/images/2014/03/24/4.jpg" alt="">
On the market with McGrath, Bowral, it is asking for expressions for interest by close 5pm 17 April, with a price guide of over $4.5 million.
<img src="/images/2014/03/24/5.jpg" alt="">
Meanwhile, <a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-robertson-115679387" target="_blank">93 acre Misty Ridge Farm is listed</a> for $2,950,000 at 170 Lees Road (pictured below). The cattle grazing, horse-appropriate property includes 11 paddocks, eight dams and sheds for farming and livestock use. Accommodation includes two houses, with six-bedrooms and two-bathrooms in total, with wood fires, solar power and air conditioning, as well as a six car space car port. There is also a 12 by six metre swimming pool.
<img src="/images/2014/03/24/robertson%20march%2024%20two.jpg" alt="">
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"Sacred" 220 acre space in Jamberoo advertised for entrepreneurial buyers

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In the middle of articles about Tinder, student actors, Asperger's Syndrome and book reviews an article called 'Gen rent' jumped out at me. I was reading Issue Two of Catalyst, the RMIT student magazine and I began reading with enthusiasm.
It discusses Sarah (her name "changed for privacy reasons"), a Gen Y who has purchased a unit and lives with her parents while repaying the bank and renting the property out.
Later in the article AHURI director Wendy Stone discusses that there's no typical way of becoming a home owner, and points to it being time for "lateral solutions to housing issues" and adaptive behaviours, whereby siblings and friends purchase together. She notes that "... young people should definitely think creatively with each other" on how to get into property. An interesting discussion itself.
And then writer Alan Wedon gives the floor to "Sarah", where the following is written:
She also says Gen Y is being pushed out of home ownership by Baby Boomers, who have a greater capacity than in previous decades to invest in private home ownership - driving house prices up even further.
"It's a wicked problem really," she says. "Because as well as competing against investors, wealthy retirees and other first-home buyers for housing, members of Gen Y are also forced into competing with each other in the private rental sector.
Anger, it may appear to those new to the debate, is rampant among FHBs. Affordability is a numbers issue, and one discussed heavily on Property Observer. But attitude is another issue entirely, and the attitude from those who are interested in getting into the market is fascinating.
A comment in mX had me saving it a while back (pictured below), and it reflected the above sentiments almost to the word.
<img src="/images/2014/04/10/jd-tear-out-youngergen-april-10-two.png" alt="">
Source: mX - Vent your spleen 
I'm assuming, hoping, that the above is satire. But if we're at the point where someone can satirize in a non-property related publication about the anger and blame coming from first home buyers, then it's worth noting.
With the news that the Abbott government has <a href="/expert-insights/investing/first-home-saver-accounts-scrapped-what-now">scrapped the First Home Saver Accounts scheme</a> in its first federal budget, many account holders have understandably been left confused about what will happen to their money.
But should we be blaming the older generations and investors for ruthlessly pushing up prices? And, shoe on the other foot, should we be slamming first home buyers for being too picky and swanning off on European holidays one time too many?
Blaming other people is completely human and, for that reason, spills into property. In the same way that some like to violently blame foreign investors for facing off against the battlers, which I have not been able to see myself at a single auction, the younger generation likes to blame the older generation for pushing up house prices. And the older generations like to blame the younger generations for being far too selective.
As Terry Ryder has previously written for us, and discussed with myself, <a href="/expert-insights/investing/the-problem-with-first-home-buyers-isnt-affordability-its-expectations">the 'real' questions around first home buyers are not being asked</a>.
He says that the real questions we should be asking include the following:
<ul>
<li>Why do you think you can't afford to buy? 
</li>
<li>Have you tried to buy? 
</li>
<li>Where have you looked? 
</li>
<li>Are you willing to compromise to get into the market?</li>
</ul>
 
Compromise - the 'c' word that no one wants to hear. It relates not only to compromising on where and what you buy, but potentially also your lifestyle. Those who claim our parents never had to do these things are sorely mistaken. Speaking of the UK market, and then the Australian market, my parents tell stories of keeping the heating off in the coldest English winters and eating chilli-con-cabbage to afford their property as young 20-somethings. There's no shame in this, and I have huge respect for them for managing to raise us simultaneously. Whether or not you must compromise more now if you want to get into property is debatable, but the reality remains that if you're not born into a wealthy family (who are then willing to provide you funds) and if you don't immediately step into a high income earning role (if you ever get to this position) then compromise is going to be a requirement.
A conversation I had recently with someone looking to buy their first home so they could move out together, revealed that they were looking for an apartment within the inner ring of Melbourne, in a few choice desirable suburbs that they listed to me. They were not looking for something new, necessarily, but well-presented and sizable, preferably with a car space. Fair enough.
But then they were finding themselves quickly outbid by "older people" when they attended at auction. They expressed frustration with the process. I suggested that they look further out west and ignore Melbourne's city, suggesting that in parts of Melbourne's west (and we're talking past Rockbank) there are house and land packages for four-bedroom, two-bathroom houses on around 600 square metres of land for a sum amazingly less than that. Not to mention the established property market, where three-bedroom, one-bathroom houses for around the $200,000 to $300,000 bracket.
The reasons for saying "no" without even a Google, was not due to the slow capital growth prospects, which are of course an issue, but because the area is "too far out" and they "like" the area they're look at.
I had a painfully similar conversation with someone who was looking to buy in the Eastern suburbs, but was then told that Melbourne's west was too far from their friends and family, and from work. It's 35 to 45 minutes on one train from Southern Cross Station. I happen to live in one of these areas, and do so because it's cheaper - not because it's my dream area to live in.
This, to me, sounds as though it answers those clarification questions.
But it doesn't mean Generation Y is full of whingers, or picky - and, indeed, not all of them even want to own property - much has been said on the demographic shift we're seeing. Plenty of those who are prospective buyers are completely prepared to "wait it out" until they find the property that suits them. Others will eventually consider suburbs further out, or they'll buy something smaller that needs doing up. Or, they might not want to rent in the first place.
I discussed with Charles Tarbey, the chairman of Century 21, his first property. He told me it was a run-down property in a rough area of Sydney's west that still has a bit of a bad reputation today. It did grow in value, he sold it, and he used the profits to help open his first real estate agency.
Those who say buying a first home isn't hard are mistaken - a deposit even on a "cheapie" property is not an easy achievement. However, we do have an issue on both sides of the fence about blaming other generations for their own individual problems. It's far too easy to ignore the reality - that for those who are not wealthy, it has never been easy to purchase a first home and it will require a great deal of compromise one way or another.
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Letter from the editor: FHBs, if you're not wealthy you will have to compromise

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Park Trent Properties Group Pty Ltd, known as Park Trent, is under scrutiny from ASIC.
ASIC has commenced proceedings in the Supreme Court of New South Wales, where they seek interim and final orders that will stop the property promoters from carrying on an unlicensed financial services business.
Park Trent’s property promotion includes the use of SMSFs to purchase property. ASIC alleges that they are unlawfully carrying on a financial services business without a financial services licence.
At least 500 members of the public have been advised by Park Trent to start an SMSF and switch funds into it to then buy investment properties owned or promoted by Park Trent companies, according to ASIC, who are seeking orders to force Park Trent to notify current and former clients about the proceeding.
They would also be required to post details about the proceeding on their website.
Park Trent currently has almost 14,000 likes on Facebook and hold seminars across the country with offices in every state and territory apart from Tasmania and the Northern Territory.
The<a href="https://www.parktrent.com.au/finance/smsf/why-smsf/" target="_blank"> SMSF section of their website</a> encourages those who are interested in reading more to call their “EasyPlan Financial Services” team.
No doubt this will be of interest to other SMSF property promoters that do not hold financial services licences.
ASIC commissioner Greg Tanzer said that Australians hold more than $1.85 trillion in superannuation funds assets, including $557 billion in SMSFs.
“It is important when making decisions regarding superannuation to consider obtaining appropriate advice from an authorised financial adviser,” he said.
“Dealing with an authorised adviser affords specific protections under the law, such as acting in the best interests of clients, a duty to avoid conflicts of interest and providing access to dispute resolution schemes.”
The first hearing is listed for 26 November.
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ASIC commences proceedings against property promoter Park Trent Properties

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

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The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Jennifer Duke

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