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Location Location Location Australia has returned to the Lifestyle Channel for its third season.
The premiere episode of the house hunting show saw co-host Bryce Holdaway lending a hand to South Australian retirees Genevieve and Trevor, while Veronica Morgan busily searched for a house for parents Michael and Naomi in Sydney.
Woollhara renters Michael and Naomi were after a house in Sydney's eastern suburbs, but had a long list of specifications that they had trouble budging on. With a $2.4 million budget, Michael, a partner at a law firm, and Naomi, a sales manager at Facebook, were after a family home that would fit their three kids and grumpy french bulldog, Winston.
The busy couple were hoping for a four bedroom house, with all four bedrooms on a single level to suit their young children. First, they tried a <a href="/news">Bondi</a> home on a narrow plot, with an unassuming facade and contemporary interiors. The open plan home with a $2.25 million price guide piqued their interest, but space and layout was an issue, requiring two of their three children to share a bedroom. Veronica encouraged the couple to stretch their expectations with a North Bridge family house on a large sloping plot. There was plenty of space for the children, but again, the bedrooms were split over two levels. Naomi and Michael noted the home felt "like a grown up house", and weren't quite ready to pack up and head to suburbia quite yet. They also visited a home in <a href="/news">Willoughby</a>, closer to the city and on a big corner block. But the renovated and extended period single storey home, with five bedrooms on a single level, didn't appeal to Naomi, despite its listing price of $1.9 million making it the cheapest of all the homes they visited. In the end, Veronica concluded that the couple would take the eastern suburbs or nothing, and showed Naomi and Michael a Willoughby stunner which had incredible views to the city. Although practicality was a major issue in the house, the couple were smitten. Unfortunately, other buyers were even  more exuberant on auction day, and Michael and Naomi didn't even get a bid in. The house was listed with $2.4 million expectations, and sold for $2.82 million. In Adelaide, Bryce was busy searching for a home for retirees and former vineyard owners Genevieve and Trevor. They had a price limit of $700,000 and were after a three bedroom, modern home close to the CBD. First stop was stone cottage in <a href="/news">Tranmere</a>. Listed for $645,000 to $665,000, the home had street appeal but the interior layout wasn't a winner, nor was the size. Bryce, noting the couple's need to compromise between size and location, pushed the couple further out, to the northern suburb of <a href="/news">Paradise</a>. There, Genevieve and Trevor saw a four bedroom renovated 1970s bungalow, with an outdoor deck and pool. Again, the couple wasn't blown away - Trevor was particularly unmoved by the house, which had an odd laundry and kitchenette installed in the fourth bedroom. So Bryce hauled in Veronica for some backup, and the pair found a home in <a href="/news">Walkley Heights</a>, 20 minutes from Adelaide's CBD. Though the new suburb is further out than Genevieve and Trevor initially wanted, he thought they might like the house itself - and he was right. The single storey home (pictured in the gallery above) with limestone frontage had open plan living areas, with an additional separate living space for Trevor to use as a "man cave". There was also a pool and a substantially sized garage. Sitting on a 731 square metre block, the house had plenty of space for visitors. According to the listing information, the home was built in 2006. Listed at $699,000, it was right at the couple's upper price limit, but they were clearly taken with the house from the get go. After gauging interest in the property, Bryce put in an offer with the real estate agent and the couple snapped up the home for $699,000. Genevieve and Trevor were thrilled with the result, and a follow up with the couple showed them very happy with their new purchase.
{module Did Genevieve and Trevor pay the right price for their home?}
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jrichardson-uRX5hFdKfN

Third season of Location Location Location Australia premieres

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Property investors are increasingly using self-managed super funds (SMSF) as low cost investment vehicles.  
But recent moves by the Australian Securities and Investments Commission (ASIC) serve as a helpful reminder to SMSF investors that nothing comes for free.  
ASIC issued three infringement notices to Esuperfund Pty Ltd for false or misleading online advertising. The online SMSF establishment and administration service provider has paid $30,600 in penalties after it ran advertisements and articles that misrepresented the costs and benefits of using its services or SMSFs.  The three statements ran between 31 January 2014 and 8 May 2014.
ASIC was concerned that one advertisement implied that Esuperfund clients would not pay any fees or costs when establishing a SMSF in 2014, while another article, entitled '9 Benefits of Setting Up A Self Managed Super Fund' misrepresented the costs associated with SMSFs in comparison to retail and industry superannuation funds.  
According to ASIC, a third advertisement falsely claimed that ASIC reviewed Esuperfund's operations yearly to make sure it was complying with its legal obligations.  
Esuperfund has now removed the statements from its website.  
Another SMSF service provider, Your Super Accountant, paid $2,040 after receiving an infringement notice for making potentially misleading statements about the costs of setting up a SMSF when using their services.  
Despite publishing claims on their website homepage that it was free to set up a SMSF with Your Super Accountant, investors were required to pay $200 upfront (20% of the annual administration fee) in order to be eligible for the "free" set up. The website homepage did not disclose that condition, or any others, when advertising the "free" service.  
ASIC noted that using a corporate trustee to set up a fund is never free.   According to ASIC deputy chairman Peter Kell, consumers should be on the lookout for services that advertise themselves as "free".
  "Some terms and phrases – such as "free" – have such a strong connotation for consumers that particular care should be taken so that investors are not misled," said Kell.  
"Setting up an SMSF is an extremely important financial decision and consumers should clearly understand the set up costs involved. ASIC has a particular focus on misleading claims that a financial product or service is 'free', as this may lead consumers to make inappropriate financial decisions," he said.  
Your Super Account has now amended the content on its website.
 
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Nothing is free: Two SMSF services fined by ASIC for misleading claims

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South Australians who are hoping to buy or sell property have been warned against dealing with unlicensed agent Shane Snellgrove.
According to South Australian Commissioner for Consumer Affairs Dini Soulio, Snellgrove's registration was cancelled in September last year and he is no longer licensed as a land agent.
“Mr Snellgrove is ineligible to be licensed because he was recently declared bankrupt  by order of the Federal Circuit Court of Australia," said Soulio.
He urges consumers who have outstanding dealings with Snellgrove as a land agent to contact Consumer and Business Services (CBS).
“CBS has identified that despite warnings, Mr Snellgrove has continued to operate as a land agent unlicensed and has advertised properties on his website shanesnellgrove.com.au.
“CBS is investigating the conduct of Mr Snellgrove, and speaking to witnesses.  The maximum penalty for acting as a real estate agent while unlicensed is $20,000.
“I would warn consumers not to engage Mr Snellgrove as there is a risk that if they suffer detriment, they may not be afforded the protections provided by the Land Agents Act.
 
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Unlicensed agent alert: warning for South Australians

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Property program Location Location Location Australia will be back on the Lifestyle Channel tonight with its third season.
The reality television show follows hosts Bryce Holdaway and Veronica Morgan as they help families searching for a new home.
Every episode, the intrepid hosts split up to help two different prospective buyers, who each have different requirements for their dream purchase.  Bryce and Veronica travel the country, searching for properties and negotiating purchases.
Location Location Location Australia doesn't focus on one particular type of buyer, but on a range of different house hunters, from first home buyers to downsizers and those moving on from difficult family circumstances. 
Tonight's episode will show Bryce searching for a house for retired Barossa vineyard owners who want to move to Adelaide and find an more modern home. Genevieve and Trevor are moving from a vineyard that's been in the family for more than 100 years, and are being forced to sell due to drought and the financial downturn.
Meanwhile, Vanessa is helping busy Sydney parents Michael and Naomi, who are renting a four storey Woollahra terrace with their young children (and one grumpy french bulldog called Winston). They're hoping to stay in Sydney's eastern suburbs.
The show's third season premieres at 8:30pm on the Lifestyle Channel. 
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Location Location Location Australia returning tonight

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A luxury apartment made it to the top of RP Data's 10 most expensive sales of the week.
The Pyrmont offering (pictured above) with 360 degree views fetched $7 million. However, there were a few other high profile sales that didn't make it onto RP Data's radar this week. There was the Professor Leslie Wilkinson designed Point Piper home of Charles Scarf and his wife Maria, which <a href="/news/30-million-professor-leslie-wilkinson-point-piper-trophy-home-sold-under-scarf-of-secrecy">sold for an unconfirmed price</a> after it was listed with $30 million plus hopes.
The sale of David Airey's <a href="/expert-insights/buying/south-yarra-then-templestowe-top-weekend-melbourne-auctions">South Yarra house for $3.8 million</a> also failed to get a mention, as did a three bedroom Mosman home <a href="/expert-insights/buying/mosman-price-shocker-tops-sydneys-weekend-auctions">which secured $3.23 million</a>. Mooloolaba's pink house was also one of the most expensive sales this week, <a href="/expert-insights/buying/fred-eagers-pink-house-mooloolaba-sells-for-3-8-million">with a $3.8 million price tag</a>.
Here are 10 of the other most expensive sales for the week ending 10 August, from RP Data.
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.feldiproperty.com/6645103" target="_blank">59/56 Pirrama Road, Pyrmont, NSW </a> <img src="/images/2014/08/12/e1.jpg" alt=""> A Pyrmont penthouse topped this week's sales, attracting $7 million dollars when it sold through Feldi Property Agents. The three bedroom, four bathroom apartment has full panoramic views over the harbour, the CBD and Barangaroo. The unit, which is directly accessible via lift, comes with three car spaces and a 17 metre marina berth. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-templestowe-117412491" target="_blank">4 Winifred Court, Templestowe, Vic</a> <img src="/images/2014/08/12/templestowe_0000_1.jpg.jpg" alt=""> The Templestowe home of architect Phillip Mannerheim was sold for $3.35 million through Ray White Manningham. The house was originally listed with a $2.4 million price guide. Mannerheim substantially renovated the property, which now has four bedrooms, five bathrooms and five car spaces. He purchased the home in 2003 for $870,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-mount+eliza-116687087" target="_blank">5 Bay Avenue, Mount Eliza, Vic </a> <img src="/images/2014/08/12/e3.jpg" alt=""> This five bedroom, four bathroom house fetched $3.16 million when sold through Aqua Real Estate Mount Eliza. Set on a 2,619 square metre parcel, the home has panoramic views of Port Phillip Bay and Melbourne's skyline. The house's multiple living spaces include a formal dining room which opens onto an covered balcony on the upper level, and a ground-floor rumpus room with a full wet bar, open fireplace and direct access to the pool. Despite its lofty price, the vendors actually made a loss on the Mount Eliza home's sale - they purchased it for $3.4 million in 2011. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/rent/house-mcmahons-point-nsw-2060/41330" target="_blank">7 McManus Street, McMahons Point, NSW </a> <img src="/images/2014/08/12/e4.jpg" alt=""> McGrath Estate Agents handled the $3.1 million sale of this four bedroom, two bathroom Sydney home. The two storey house with views over Berrys Bay sits on a dual access block. Its master bedroom comes with a en suite with spa and direct courtyard access. The home is currently leased for $1,950 per week, yielding 3.27%. 
</li>
<li>
<a href="https://www.curranproperty.com.au/selling/NSW/Upper-North-Shore/East-Killara/House/1P0115" target="_blank">11 Fairlight Avenue, East Killara, NSW </a> <img src="/images/2014/08/12/e5.jpg" alt=""> A six bedroom, three bathroom house attracted $2.81 million through Curran Property Chatswood this weekend. The listing information states the three level home is "reminiscent of a classically inspired European estate", set over a 1,359 square metre plot. The home was purchased by the vendors 20 years ago for just $515,000 and was renovated by interior designers Hare and Klein in 2001. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.feldiproperty.com/10579533" target="_blank">3/56 Pirrama Road, Pyrmont, NSW </a> <img src="/images/2014/08/12/e6.jpg" alt=""> Another unit in the 56 Pirrama Road complex made it on RP Data's top 10 list this week. The three bedroom, two bathroom apartment at number 3 was picked up for $2.7 million, selling through Feldi Property Agents. It features hardwood floors in the living and kitchen areas, with carpeted bedrooms. Residents have access to the building's lap pool and gym. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-glen+waverley-117383623" target="_blank">21 Barbara Avenue, Glen Waverley, Vic </a> <img src="/images/2014/08/12/e7.jpg" alt=""> This five bedroom, five bathroom house sold for $2.5 million through Ray White Glen Waverley. The two storey home on a 809 square metre block has multiple indoor living spaces, with a tiled outdoor entertaining area. The listing information notes that the house is "metres from Glen Waverley Secondary College". The vendors paid $900,000 for the land and previous house on the block in 2012. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-mosman-117476495" target="_blank">16 Windward Avenue, Mosman, NSW </a> <img src="/images/2014/08/12/e8.jpg" alt=""> A Mosman home also fetched $2.5 million this week, selling through Harcourts Dunne Mosman. The three bedroom, two bathroom dual frontage offering is situated on the high side of Windward Avenue, adjoining to a bush reserve. Set on a 695.6 square metre block, the house features a balcony that runs the length of the house, a sauna, large study, a workshop and a double-lock garage. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-beecroft-117463887" target="_blank">8 Bangalow Avenue, Beecroft, NSW </a> <img src="/images/2014/08/12/e9.jpg" alt=""> Securing $2.4 million, this house sold through McGrath Estate Agents Epping. The former farmhouse has five bedrooms and three bathrooms, with outdoor entertaining areas and an in ground pool. The 1,492 square metre parcel has development approval for a two lot subdivision. The vendors paid $1,375,000 for the home in 2008. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-ivanhoe-117452027" target="_blank">45 Waterdale Road, Ivanhoe, Vic </a> <img src="/images/2014/08/12/e10.jpg" alt=""> This five bedroom, four bathroom contemporary home sold for $2,380,000 through Barry Plant Ivanhoe. The modern house on a 750 square metre plot is decked out with showy details, including double three metre waterfall stone island benchtops, two self-cleaning ovens, motorised drawers in the bedrooms and a 14 jet spa in the master en suite. The home also features a salt chlorinated pool and bluestone paved balconies.</li>
</ol>
Other high ranking sales for the week include 112 Jersey Road, Paddington (NSW), a <a href="https://www.realestate.com.au/property-house-nsw-paddington-117430135" target="_blank">three bedroom home that sold for $2.37 million</a>, and 3 Park Road, St Leonards (NSW), <a href="https://www.realestate.com.au/property-house-nsw-st+leonards-117568991" target="_blank">a 1912 four bedder</a> that fetched $2.35 million.
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Luxury units stand out on most expensive sales of the week: RP Data

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Last night, Australia was treated to the first round of bathroom reveals on The Block Glasshouse.
In one of the hardest tasks of the series (as host Scott Cam likes to remind us), each team was given one week to create the main bathroom of their office conversion apartment.
The week saw yet more delays, tradies in tears, and a particularly unsavory furniture upcycling challenge featuring a taxidermied deer head (the furniture world's Martin Margielas, our blockheads are not).
But it seems the hard work was worth it in the end, with the judges marveling at the bathrooms this season's  contestants managed to deliver.
Despite being cursed with a severed, taxidermied, hollowed out and illuminated deer head courtesy of Shannon and Simon, Chris and Jenna managed to wash the negativity away with their bathroom offering (pictured above, courtesy of Channel 9).
The Campbelltown couple, characterised as the "newbies" of The Block, earned a perfect score of 30 from judges Neale Whitaker (soon to join Vogue Living as editor-in-chief), Selling Houses Australia's Shaynna Blaze and interior designer Darren Palmer.
Some major tiling miscalculations saw the couple bring in a two metre wide mirror to cover up their error - a blessing in disguise, creating the illusion of an expansive space.
Continuing the theme set with the exposed beams in their guest bedroom, the team ran a metal pole (with a pipe tucked inside) across the entire length of their bathroom, which suspended their shower head (pictured below).
<img src="/images/2014/08/11/block2.jpg" alt="">
Picture courtesy of Channel 9. The second highest score of the night went to Darren and Deanne, whose bathroom was particularly popular with Darren (judge, not Jolly), pictured below.
<img src="/images/2014/08/11/blockd.jpg" alt="">
Picture courtesy of Channel 9.
Shaynna Blaze noted that their bathroom had a "provincial feel" translated to an urban setting, while Neale Whittaker said the bathroom held its own against some of the best bathrooms he's seen in his career as a magazine editor. The couple were awarded 28 points out of 30.
Their bathroom featured a medley of materials - with a plain plastered wall, a marble vanity, patterned floor tiles, a paneled wall and a wall covered with large white tiles. Maxine and Karstan redeemed themselves after failing to complete a room last week, scoring 26 points for their glossy grey bathroom, pictured below.
<img src="/images/2014/08/11/blockmax.jpg" alt="">
Picture courtesy of Channel 9.
Theirs was a particularly big space and Shaynna appreciated their extensive storage, which allowed access to the bedroom linen closet through the wall. However, the couple lost points for the lack of underfloor heating, which was seen in many of the other bathrooms.
Queensland couple Michael and Carlene coped with their pokey bathroom by building a raised platform with an in-built bathtub and open shower three steps above the floor level, pictured below. The judges all thought the couple's herringbone tile feature wall was worth the trouble (though their tiler who was pulling all-nighters alone for the majority of the week may not agree).
<img src="/images/2014/08/11/block%20michael.jpg" alt="">
Picture courtesy of Channel 9.
The raised shower was not so popular, with Shaynna concerned that wet, soapy steps would be unsafe for buyers and their children. Michael maintains that the tiles were fairly porous, and wouldn't be slippery. The couple was awarded 24 points for their effort.
Last week's winners took a tumble in the judges eyes - Simon and Shannon received the lowest score of the week, with 23 points. While their timber vanities were appreciated, there were a number of awkward points in the bathroom, including a hidden-but-not-so-hidden boxed-out cistern which reminded Shaynna of a public toilet (pictured below).
<img src="/images/2014/08/11/blockss2.jpg" alt="">
Picture courtesy of Channel 9.
The judges also noticed the absence of a bath in the main bathroom, noting that it felt more like an en suite (which is was, thanks to the door adjoining the bathroom to the guest bedroom, an idea the brothers pinched from Chris and Jenna).
This week, the teams will tackle two rooms - the second bedroom and study.
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Block Glasshouse newbies reborn with perfect score

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The median price of a house in Brisbane was $475,000 for the quarter to July, according to RP Data.
Brisbane house values were down 0.2% for the month, but increased 6.9% on a yearly basis. The Queensland capital had the third-strongest growth of any capital city in the country for the 12 months to July, behind Melbourne and Sydney.
Many people use median figures to set their price expectations for an area - but what does a $475,000 Brisbane house actually look like? Property Observer looks at the city's recent sales to see what the median price will get you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-qld-mansfield-117265463" target="_blank">84 Pareena Crescent, Mansfield</a> <img src="/images/2014/08/11/1.jpg" alt=""> This three bedroom, two bathroom brick home sold for $477,000 in July. The house sits on a 546 square metre plot in the Mansfield High School zone. Two of the three bedrooms have built in robes, and the open plan living spaces feature pine cathedral ceilings. It was purchased by the vendors for $400,000. Price: $477,000 Bedrooms: Three Drive to CBD: 15 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-mitchelton-117290463" target="_blank">49 Glen Holm Street, Mitchelton</a> <img src="/images/2014/08/11/2.jpg" alt=""> Late last month, a three bedroom, one bathroom house secured $473,000 when sold in late July. The single storey home has built in wardrobes in all three bedrooms and the kitchen and dining area opens onto a covered entertainment area. The house is set on a 405 square metre block. Price: $473,000 Bedrooms: Three Drive to CBD: 15 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-deagon-116916459" target="_blank">60 Station Road, Deagon</a> <img src="/images/2014/08/11/3.jpg" alt=""> Another three bedroom, one bathroom house sold around Brisbane's median price last month, with this Deagon home attracting $482,500. The home has open plan living and dining areas, with an open fireplace and 10 foot ceilings. The home sits on a 450 square metre parcel, with a utility room and workshop tucked in the downstairs area of the house. Price: $482,500 Bedrooms: Three Drive to CBD: 25 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-keperra-117324855" target="_blank">45 Hermitage Street, Keperra</a> <img src="/images/2014/08/11/4.jpg" alt=""> This low set brick home has four bedrooms and one bathroom, selling for $475,000. The home's newly renovated kitchen, with the listing information stating that it was "barely used", separates two living areas. Set on a 628 square metre parcel, the home also includes a two car lockup garage. Price: $475,000 Bedrooms: Four Drive to CBD: 19 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-jamboree+heights-116682875" target="_blank">Jamboree Heights</a> <img src="/images/2014/08/11/5.jpg" alt=""> A three bedroom, one bathroom house 14 kilometres south-west of the Brisbane CBD sold for $469,500. The house, set on a 589 square metre block, backs onto council-maintained parkland. Outside, there is an entertainment deck and in-ground pool, while the backyard has direct gated access to the park. Price: $469,500 Bedrooms: Three Drive to CBD: 17 minutes</li>
</ol>
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What does a median-priced house in Brisbane look like?

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Is there such thing as a first home buyer hotspot?
If so, these 10 Victorian postcodes just might make the list. According to the State Revenue Office of Victoria, these areas had the most first home owner grant applications of any postcodes in Victoria for the quarter to June 2014.
<ol>
<li>Postcode: 3977 Suburbs: <a href="/news">Cranbourne</a>,<a href="/news"> Devon Meadows</a>, <a href="/news">Skye</a> Number of applications in June quarter: 200 
</li>
<li>Postcode: 3029 Suburbs: <a href="/news">Hoppers Crossing</a>, <a href="/news">Tarneit</a> Number of applications in June quarter: 177 
</li>
<li>Postcode: 3030 Suburbs: <a href="/news">Point Cook</a>, <a href="/news">Werribee</a>, <a href="/news">Derrimut</a> Number of applications in June quarter: 110 
</li>
<li>Postcode: 3064 Suburbs: <a href="/news">Craigieburn</a>, <a href="/news">Donnybrook</a>, <a href="/news">Roxburgh Park</a>, <a href="/news">Mickleham</a> Number of applications in June quarter: 110 
</li>
<li>Postcode: 3754 Suburbs: <a href="/news">Doreen</a>, <a href="/news">Mernda</a> Number of applications in June quarter: 84 
</li>
<li>Postcode: 3750 Suburbs: <a href="/news">Wollert</a> Number of applications in June quarter: 59 
</li>
<li>Postcode: 3810 Suburbs: <a href="/news">Pakenham</a>, <a href="/news">Rythdale</a> Number of applications in June quarter: 58 
</li>
<li>Postcode: 3978 Suburbs: <a href="/news">Cardinia</a>, <a href="/news">Clyde</a>, <a href="/news">Clyde North</a> Number of applications in June quarter: 58 
</li>
<li>Postcode: 3338 Suburbs: <a href="/news">Melton South</a>, <a href="/news">Brookfield</a>, <a href="/news">Eynesbury</a>, <a href="/news">Exford</a> Number of applications in June quarter: 51 
</li>
<li>Postcode: 3000 Suburbs: <a href="/news">Melbourne</a> Number of applications in June quarter: 50</li>
</ol>
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Where are Victorian first home owners applying for grants?

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When it comes to purchasing a home, everybody wants a bargain - especially first home buyers.
If your "dream suburb" is now a dot on the horizon and you can't tighten your belt any further, it might be time to get creative.
The term "below market value" has a pretty stretchy definition and depends entirely on what people think a property should be worth - whether that person is a valuer, a lender, the vendor, or you. If you're hoping to buy a property "below market value", you're probably actually just after a home than what's expected for a property of that quality in that area, or for a lower price than you might have gotten it earlier. 
Under certain circumstances neither of those situations is desirable. If you're getting a property cheaper than any other on the street because it's falling apart, or because a new set of apartments is about to go up next door, you might be in for a dud. Similarly, if prices have fallen in a suburb over the past year, it might be because demand is falling away and unlikely to recover in the future.
Investors, owner occupiers and buyer's agents all have their own tricks for buying a property below what you would expect. They might keep an eye out for discounted homes, mortgagee sales, or off-market opportunities.  But before you snap up the next house in receivership you see online, or convince yourself that the dilapidated shack for sale is a below market value bargain, beware: sometimes it can be hard <a href="/expert-insights/investing/how-to-find-property-bargains-and-not-lemons-in-the-current-market">telling a bargain from a lemon</a>. 
If you want to buy a property "below market value", make sure it's still good value. Here are some strategies used to get a home for less than you'd expect.
<ol>
<li>
Mortgagee sales A mortgagee sale occurs when a property is possessed by a lender after the borrower can't repay their debts. If you head to a mortgagee auction, chances are you're buying a property that the bank wants off it's hands. However, that's no guarantee that you'll get a bargain basement price for the property. While the lender would probably prefer not to hold the property, they're also attempting to recover the money owned to them during the sale, and have an obligation to the defaulting borrower to sell their property at a fair value. However, a mortgagee sale can still sometimes provide good opportunity for bargain hunters. As Brad Caldwell-Eyles writes, most mortgagees will steer clear of fancy marketing strategies when selling a property, opting instead for straight shooting listing information - which might just mean it gets passed over by your competitors. 
</li>
<li>
Distressed sellers and deceased estates A "distressed seller" is exactly what it sounds like - a seller that has some sort of extra motivation to sell due to life circumstances. They could be ill, in financial trouble or leaving the country, and willing to sell their property at a loss, which is good news for you. For distressed sellers, time usually has a high dollar value, which you can use to your advantage. Sellers are under no obligation to advertised that they are "distressed", so if they are, it may mean they are particularly desperate to get rid of a property. Similarly, some executors are more interested in getting a property out of their hair than making money. Perhaps they can't afford ongoing advertising fees, or would just like to move on with their lives. Some websites, such as National Mortgagee and Deceased Estate Data, list only properties that are on the market from mortgagees, distressed sellers or housing authorities. Beware "discount" homes that have been languishing on the market. While you might find a property that's had its price cut by 70% since listing and has stood on the market for three years, it could be because the agent isn't doing their job and you've spotted an under-marketed gem. Or you could be getting sucked in by a property with an initial listing price triple what it deserves, that nobody else is touching because it's a dud investment. Proceed with caution. 
</li>
<li>
Spot the faults While searching for a home, you should always be on the lookout for any flaws or faults. Not only will it save you for buying a dud, but it could help you bring down the overall cost of the property. If you can get to the negotiation phase of a sale armed with a builder's inspection or a pest inspection document that shows the property is less than ideal, you could use those flaws to your advantage. This is also your opportunity to get creative. If there's a pile of rubbish on the property that the elderly seller has promised to get rid of before the settlement date, you could agree to take the property with the rubbish, with the cost of labour cut out of the sales price. Your elderly seller might have just saved themselves the trouble of organising labourers, and you've just exchanged some money for an afternoon of your time. Of course, it almost goes without saying - don't romanticise property problems. If you think you can use the leaky roof to negotiate down the sales price of your purchase, think first: do you really want a house with a leaky roof? Fixing problems down the line can often be more expensive than you anticipate at first, so only purchase if you're sure you can handle making improvements. 
</li>
<li>
Negotiate your terms There are two major aspects to a sale - the price and the agreed terms. If you make the terms good enough for your vendor, they may just be willing to move on the cost. For example, if you know your vendor is under time constraints and just wants to get rid of the property, getting in before the auction date and cutting the settlement time or waiving your cooling off period could be very valuable. Not only do such moves help your hurried vendor, but they also signal to the agent that you're confident and ready to make a purchase. To some, a first home buyer in the hand is worth more than 10 at auction next month.</li>
</ol>
Buying any first home is difficult, but buying a decent investment for a cheap price is even harder. Remember, a sale isn't all about you - it's about the seller, too. Keep them in mind and you could be securing a great home for less than you expect.
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First home buyer how to: Buying a property below market value

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Whether we're trying to figure out just how rich our rich and famous are, or trying to spot some cringeworthy decor to appeal to our sense of schadenfraude, celebrity homes always manage to catch our attention.
In the spirit of healthy voyeurism, this week's Friday trivia is devoted to the terrific, the tragic and the banal - celebrity homes.
Can you guess the famous past and present owners of these homes?
<ol>
<li>Which famous ballerina is packing up her Vaucluse home after moving back to London? <img src="/images/2014/08/08/vaucluse_0000_1.jpg.jpg" alt=""> 
</li>
<li>A particularly musical couple now owns this stand out Californian home. <img src="/images/2014/08/08/q2.jpg" alt=""> 
</li>
<li>This Byron Bay hinterland home didn't sell when it was put on on the auction block earlier this year. <img src="/images/2014/08/08/q3.jpg" alt=""> 
</li>
<li>A flaxen-haired celebrity couple haven't exactly aced the sale of their Palm Beach retreat. <img src="/images/2014/08/08/palm%20beach_0000_1.jpg.jpg" alt=""> 
</li>
<li>Another blonde listed this California estate last month - legally, of course. <img src="/images/2014/08/08/5.jpg" alt=""> 
</li>
<li>This Hope Island home was listed last month by Australia's Daytime TV Queen. <img src="/images/2014/08/08/6.jpg.jpg" alt=""> 
</li>
<li>A former Miss Universe paid $4 million for this view. <img src="/images/2014/08/08/7.jpg" alt=""> 
</li>
<li>Which Scorsese favourite and water pistol enthusiast owns this Palm Springs John Lautner home? <img src="/images/2014/08/08/8.PNG" alt=""> 
</li>
<li>An international couple with Australian roots flipped this Hollywood home earlier this year, making around US$15 million in the deal. There's no need for the money in the banana stand. <img src="/images/2014/08/08/9.jpg" alt=""> 
</li>
<li>A music star wasn't happy the initial $12 million asking price for his Miami penthouse, bumping up the price guidance earlier this year. <img src="/images/2014/08/08/10.jpg" alt="">
</li>
</ol>
 The answers are on the next page.
<hr class="system-pagebreak">
How well do you know the homes of the rich and famous? 
<ol>
<li>Which famous ballerina is packing up her Vaucluse home after moving back to London? <img src="/images/2014/08/08/vaucluse_0000_1.jpg.jpg" alt=""> This Vaucluse mansion has been listed by <a href="/news/staying-back-in-london-so-darcey-bussell-lists-vaucluse-home">classical ballerina Darcey Bussell</a>. 
</li>
<li>A particularly musical couple now owns this stand out Californian home. <img src="/images/2014/08/08/q2.jpg" alt=""> This Incredibad mansion was recently snapped up by Brooklyn 99 star <a href="/news/from-incredibad-to-chaplins-pad-andy-samberg-and-joanna-newsom-buy-legendary-hollywood-home">Andy Samberg and musician Joanna Newsom</a>. 
</li>
<li>This Byron Bay hinterland home didn't sell when it was put on on the auction block earlier this year. <img src="/images/2014/08/08/q3.jpg" alt=""> The Block co-host <a href="/news/shelley-craft-yet-to-sell-byron-bay-home">Shelley Craft attempted to sell</a> her Byron Bay Hinterland home in July. 
</li>
<li>A flaxen-haired celebrity couple haven't exactly aced the sale of their Palm Beach retreat. <img src="/images/2014/08/08/palm%20beach_0000_1.jpg.jpg" alt=""> This Palm Beach home belongs to <a href="/news/lleyton-hewitt-adjusts-palm-beach-holiday-home-price-net">Bec and Lleyton Hewitt</a>. 
</li>
<li>Another blonde listed this California estate last month - legally, of course. <img src="/images/2014/08/08/5.jpg" alt=""> <a href="/news/elle-woods-farewells-brentwood-reese-witherspoon-lists-home">Reese Witherspoon listed her home</a> with a $14 million price tag. 
</li>
<li>This Hope Island home was listed last month by Australia's Daytime TV Queen. <img src="/images/2014/08/08/6.jpg.jpg" alt=""> This home has been listed by <a href="/news/kerri-anne-kennerley-lists-hope-island-retreat">national treasure Kerri-Anne Kennerley</a>. 
</li>
<li>A former Miss Universe paid $4 million for this view. <img src="/images/2014/08/08/7.jpg" alt=""> Model <a href="/news/jennifer-hawkins-spends-4-million-on-newport-waterfront">Jennifer Hawkins picked up this property</a> and the adjoining plot after selling her North Curl Curl home. 
</li>
<li>Which Scorsese favourite and water pistol enthusiast owns this Palm Springs home? <img src="/images/2014/08/08/8.PNG" alt=""> <a href="/news/the-wolf-of-hermosa-place-leonardo-dicaprio-picks-up-palm-springs-holiday-home">This desert trophy home is owned by Leonardo DiCaprio</a>. Lautner's work is loved by Hollywood types, both fictional and real - his homes have been in <a href="/news/friday-trivia-can-you-guess-which-films-made-these-homes-famous">famous films</a>, and Chris Martin and Gwyneth Paltrow purchased a Lautner-designed Malibu home before they split. 
</li>
<li>An international couple with Australian roots flipped this Hollywood home earlier this year, making around US$15 million in the deal. There's no need for the money in the banana stand. <img src="/images/2014/08/08/9.jpg" alt=""> Portia de Rossi and Ellen DeGeneres bought this home early this year for US$39.89 million, before selling it for a reported $55 million sum to Napster founder Sean Parker. 
</li>
<li>A music star wasn't happy the initial $12 million asking price for his Miami penthouse, bumping up the price guidance earlier this year. <img src="/images/2014/08/08/10.jpg" alt=""> This penthouse pad was <a href="/news/pharrell-not-happy-with-12-million-as-he-bumps-up-listing-price-on-miami-penthouse">listed by musician Pharrell</a>.</li>
</ol>
 
 
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Friday trivia: Celebrity homes

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Jessie Richardson

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