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The Melbourne residential market has experienced years of unprecedented growth that saw prices peak in November 2017.

Now, after decades of rapid price hikes, the market is starting to self-correct to a level more traditionally akin to a ‘normal’ market, with organic ebbs and flows.

The recent correction, however, has sent waves of concern among buyers and industry commentators alike, with many pronouncing that this might signify the end of the fabled ‘bubble’.

But Australia has seen this many times before, and each time the market bounces back stronger than ever.

After each downturn, of which there have been at least half a dozen since 1980, the market has recovered within a short time and prices have resumed on a steady upward rise.

Seasoned property stalwarts such as Elias Jreissati of Bensons Property Group, and Leonard Teplin from Marshall White Projects have seen it all before, watching as Melbourne’s cyclical market rose and fell countless times over the years.

They say the market has reached real value levels and market fundamentals point to a positive upswing in 2019, meaning now might just be the best time to pounce, and make the most of current conditions while they last.

<h2>What they say...</h2>

<blockquote>
“The apartment market for off-the-plan remains consistent, with enquiry meeting demand through most of 2018 within strong areas of Melbourne. Given the relative affordability of finance for couples, these buyers are happy to invest more, move to stronger areas or purchase bigger apartments. Subsequently our average sale price of an off-the-plan apartment rose to $963,000 this year.

There will always be demand for well-designed and appointed projects within good locations, close to amenities and infrastructure offering carefully considered floorplans that cater to the end buyer’s needs. These basic fundamentals have buoyed Melbourne’s property market and continue to get stronger.”

It’s true that certain sections of the buying market have had to seek alternative methods to access credit, but that hasn’t diminished the appetite for good property. What we’re seeing is a slew of new lenders filling those gaps for first home buyers, downsizers and families who are still looking to buy new apartments or town homes off-the-plan.

Unemployment rates are at record lows, Australia’s GDP went up by 0.7% last quarter and construction and infrastructure investment remains incredibly strong. Buyers are buying and developers that are meeting demand with quality product are selling – there’s no doom and gloom in the wealth belt of Boorondara, Stonnington and Bayside.”

- Leonard Teplin, Director, Marshall White Projects
</blockquote>

 

<blockquote>
“The market will always ebb and flow – the extent of the current softening is highly exaggerated and sensationalised. The Melbourne housing sector had very strong growth for nearly 10 years, it is natural that there will be a slowdown for a while.

The fundamental driver of housing is population growth and it continues unabated. Overseas immigration is still strong, people are still growing up and wanting to move out of home, downsizers are still wanting to downsize and people wanting to own their own home still aspire to do so. These facts never change.

With the mad heat having dissipated from the market, there should be more quality stock available for the discerning purchasers. The thing with property is that if you own it for the long term, it always forgives you and profits you.”

- Elias Jreissati, Group Chairman, Bensons Property Group
</blockquote>
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urban.com.au

Now is the Time to Buy say Industry Stalwarts

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In the lead up to the end of the year and with one eye firmly on 2019 and beyond, Apartments.com.au is coming to you with a number of announcements from within the architectural fraternity. This follows on from <a href="/news/a-number-of-architecture-firms-make-key-leadership-appointments-ahead-of-2019">Urban.com.au's article earlier this month</a> detailing some key appointments around the industry.

Read on for news from i2C Architects and Architectus:

<h2 class="rtecenter">Experienced retail design firms merge, cementing position as leaders in national market</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/l2r_rod_rose_anthony_merlinbrian_jende-photographer_luke_marsden_4638.jpg" rel="gallery-all" title="L-R: Rod Rose, Anthony Merlin, Brian Jende. Image: Luke Marsden"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/l2r_rod_rose_anthony_merlinbrian_jende-photographer_luke_marsden_4638.jpg?itok=O6lekKZN" title="L-R: Rod Rose, Anthony Merlin, Brian Jende. Image: Luke Marsden" width="580"></a>

<figcaption>L-R: Rod Rose, Anthony Merlin, Brian Jende. Image: Luke Marsden</figcaption></figure>Currently located in Melbourne, Sydney and Perth, i2C Architects is set to expand up the country’s east coast, announcing its amalgamation with Brisbane-based TRG Queensland.

With a similar client sect in the retail, industrial, mixed-use, urban and build-to-rent sectors, the merger will now see i2C Architects offer an enviable skill set and expanded client database, with full coverage across Australia.

While in a coup for Queensland, the move will mean a truly international offering to the design and architectural market with i2C Architects providing an expansive global alliance and network of offices.

It is expected that the combined revenue of the merged entity will exceed $16 million per annum, with the i2C Architects team growing to over 100 members across the four locations in Melbourne, Sydney, Brisbane and Perth.

Following a reevaluation of the business and its brand after almost 20 years in operation, co-founder and Managing Director of i2C Architects, Anthony Merlin, said the desire to expand the company’s offer and value to clients was the motivator to merge.

According to TRG Queensland Managing Director, Rod Rose, who will become a third Director at i2C Architects, it is the larger scale projects the office can now take on that will bring a dynamic offering to clients in the Sunshine State.

TRG Queensland will officially transition into i2C Architects Queensland office effective 1 January 2019.

<blockquote>
“i2C Architects has been privileged enough to work alongside TRG Queensland on a number of projects over the past 18 months, and it became very apparent to my co-founder Brian Jende and myself, that the synergies between our two companies were almost identical, from the client base to our core values.

In the past we haven’t been able to service Queensland as much as we would have liked to, and in our vision to become a truly national firm, it was vital that we made a strategic move.

We now have an established office in Brisbane that is home to talented building designers and architects, and that is a very exciting prospect for the company.”

-  Anthony Merlin, co-founder and Managing Director of i2C Architects
</blockquote>

 

<blockquote>
“From our inception 13 years ago, our focus at TRG Queensland was always on small to medium projects, the largest we’ve worked on is $30 million.

Joining i2C Architects allows us to offer our current and prospective clients additional services, and we will certainly be able to provide incredible value with our skill set particularly architectural documentation.” 

-  Rod Rose, TRG Queensland Managing Director
</blockquote>

 

<h2 class="rtecenter">Architectus welcomed to Perth by property and construction industry leaders</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/architectus_launchlaunch_qv1_perth_jillianmchughphotography_6674-edits.jpg" rel="gallery-all" title="Architectus Perth office launch. Image: Jillian McHugh Photography"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/architectus_launchlaunch_qv1_perth_jillianmchughphotography_6674-edits.jpg?itok=AjQdteUG" title="Architectus Perth office launch. Image: Jillian McHugh Photography" width="580"></a>

<figcaption>Architectus Perth office launch. Image: Jillian McHugh Photography</figcaption></figure> 

Top-tier Australian design practice, <a href="/developments?architect=Architectus">Architectus</a>, has officially launched its Perth studio welcoming over 100 leaders from the WA property and construction industry to its fifth capital city workplace located at QV1 in central Perth.

On the back of sustained national growth and building on a portfolio of local Architectus-designed projects, Managing Director, Ray Brown said the Perth studio affirms the practice’s commitment to servicing clients nationally and strong belief in the Western Australian market.

Architectus’ growth has been driven by a number of key project appointments including the design of the Western Sydney Airport Business Park Master Plan; 505 George Street, Sydney - a landmark mixed-use residential tower; ‘Triplets’, a high rise office building in Brisbane; several education projects including for Macquarie University and the Growth Area Schools Project for the State Government of Victoria; Sydney Metro City and Southwest in collaboration with Foster + Partners as part of the METRON consortium; and as part of the Aurecon Jacobs Mott Macdonald joint venture (AJM JV) consortium, appointed as technical advisor to Rail Projects Victoria (previously the Melbourne Metro Rail Authority) for the Victorian Rail Infrastructure Program (VRIP), which includes amongst other projects investigations into the Melbourne Airport rail link and Geelong fast rail.

Providing services in urban design and planning, architecture and interior architecture, Architectus has experienced substantial growth over the last three years, comprising 400 employees across Adelaide, Brisbane, Melbourne, Sydney and more recently Perth.

With key senior hires already underway, the Perth studio is expected to grow to a team of around 30 under the leadership of Managing Principal Mark Mitcheson-Low, supported by well-known Perth design architect Paul Jones who has been working with Architectus for the last three years.

Perth projects designed by Architectus include multi-unit residential developments Waterbank Building J, The Islands at South Beach, and The Esplanade on the site of the historic Steve’s Hotel, Nedlands (in association with Kerry Hill Architects).

<blockquote>
“To be a truly national practice it is imperative that Architectus is in Perth,” Brown said. “Like all growing cities, the complexity and scale of projects is increasing which suits our skillset, whether across education, workplace, commercial, transport, or residential. It’s a great city with a really deep talent pool, which we’ll utilise not only for local projects, but to support our projects across Australia.”

- Ray Brown, Managing Director
</blockquote>

 

<blockquote>
“Architectus announced its intention to open a Perth studio in August this year and we were thrilled to see so many of the industry turn out to celebrate the arrival of the practice with us.

The opening of the studio provides our national clients with access to the expertise they’re familiar with on the East coast, and our Perth clients with a long-awaited new national entrant to provide a fresh design offer into the market.”

- Mark Mitcheson-Low, Managing Principal
</blockquote>

<a href="http://www.kerstinthompson.com/">Lead image: Kerstin Thompson Architects </a>

 
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Around the Industry in 80 seconds

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Long synonymous for its sand, surf and sun (and the laidback lifestyle associated with it), Surfers Paradise has shaken off its identity as a high-rise retirement village and party playground for schoolies to adopting a more cosmopolitan vibe as hip new bars, cafes, restaurants and even breweries continue popping up left right and centre as the population (and skyline) continue to grow.

It could be argued the increase in these types of amenities reflect the changing population demographics of Surfers Paradise, with residents increasingly seeking an urban lifestyle that is more synonymous with the likes of Sydney, Melbourne and Brisbane. 

According to Census data, From 2011 to 2016, Surfers Paradise's population increased by 4,060 people (20.6%), representing an average annual population change of 3.82% per year over the period. The largest age group in Surfers Paradise according to the 2016 census was 25 to 29 year olds.<a href="https://profile.id.com.au/gold-coast/five-year-age-groups?WebID=530">1</a>

The continued trend of high-rise development in Surfers Paradise doesn't look like abating anytime soon, with the area boasting a healthy pipeline of projects - Urban.com.au is currently tracking <a href="/new-apartments/surfers-paradise-qld-4217">32 developments in Surfers Paradise</a>. 

Chevron Island is also beginning to shake off its retirement village tag, with a number of new developments seeking to take advantage of the island's proximity to golf courses, parklands, the bustling retail along Surfers Paradise, and the sand and surf beyond. 

Located a 5 minute stroll west of Surfers Paradise, Chevron Island is a medium density residential neighbourhood comprising a community of 1,500 residents and over 150 local businesses. It is linked by two bridges to Southport and Bundall to the west and to Surfers Paradise to the east, and provides a unique shopping destination for locals and visitors alike.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/chevron_island.jpg" rel="gallery-all" title="Aerial showing Chevron Island's proximity to Surfers Paradise. Image: Gold Coast Bulletin"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/chevron_island.jpg?itok=4RDrFJZh" title="Aerial showing Chevron Island's proximity to Surfers Paradise. Image: Gold Coast Bulletin" width="580"></a>

<figcaption>Aerial showing Chevron Island's proximity to Surfers Paradise. Image: Gold Coast Bulletin</figcaption></figure>Previously known as Goat Island, Chevron Island is a natural island formation that once hosted a cattle farm.The profile and topography of the island were modified in the 1950s by detaching the island from where HOTA now exists and through sand fill.

Developments such as Benson Property's <a href="/new-apartments/chevron-one-36-46-stanhill-drive-chevron-island">Chevron One</a> and Macquarie York's <a href="/buildings/allure-chevron-island-1-northcliffe-terrace-surfers-paradise">Allure</a> will change the dynamic of the neighbourhood with the projects representing the first high-rises to be developed on the island and in effect extending the Surfer's Paradise skyline. 

Chevron One is a $230 million, 40-storey tower of 247 apartments designed by Marchese Partners currently under construction only 500m away from Surfers Paradise.

Speaking to <a href="http://www.mediahunt.com.au/bensons-launch-230m-chevron-one-tower/">Media Hunt</a>, Bensons chairman Elias Jreissati noted that the Gold Coast's continued evolution is part of the reason the Melbourne-based development company has turned its attention north.

<blockquote>
“We are seeing a major transformation taking place on the Gold Coast, and with that the city is becoming as rich in urban lifestyle as any of our capitals. It’s one of the reasons we have been looking to invest in the region for some time.

The Gold Coast has always been an aspirational leisure destination, and that will always be the case. However, the Commonwealth Games has brought with it a new energy that people are only now starting to realise.

“This has lifted the pulse of change, including the desire for a cultural heart which we warmly welcome, and there’s no stopping that now. We’re seeing the city setting itself up for a golden era of growth and Chevron Island is on the cusp of playing its role in this transformation."
</blockquote>

The Gold Coast Commonwealth Games, which were hosted last year and put the Gold Coast firmly in the spotlight also brought with it further investment in infrastructure and amenities from both Government and the private sector.

The Parklands project, located 5km from Surfers Paradise, was designed and developed by Melbourne-based ARM and Grocon respectively, to initially host athletes for the Games, before reverting to accommodation for health and knowledge professionals from nearby Gold Coast University Hospital and Griffith University. It is also one of Australia’s first build-to-rent developments.

ARM are also working on the Home of the Arts Master Plan a stone's throw from Chevron Island. The first stage of the project was completed in 2017 with future stages to be delivered through to 2023.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/arm_gold_coast.jpg" rel="gallery-all" title="L-R: Parklands Gold Coast and HOTA Master Plan. Images: ARM "><img alt="" class="image-article-full-width-580px" height="199" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/arm_gold_coast.jpg?itok=pH9wdcDj" title="L-R: Parklands Gold Coast and HOTA Master Plan. Images: ARM " width="580"></a>

<figcaption>L-R: Parklands Gold Coast and HOTA Master Plan. Images: ARM</figcaption></figure>Urban.com.au's own Mark Baljak has <a href="/news/chevron-one-heralds-the-beginning-of-chevron-islands-transformation">previously provided a summary of some of the developments</a> mooted for the island as it transforms into a high-rise neighbourhood.
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Between surf, sand and sky - Chevron Island to scale new heights

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Located 32km south-west of the Sydney CBD, within the Greater Western Sydney region, Liverpool is on its way to becoming Sydney's third CBD, behind Parramatta as it looks to add to its rapidly growing multicultural population of 27,084 (2016 census). Through a combination of Government and private investment, in addition to Council led initiatives to facilitate and encourage growth, there is no better time to invest in Liverpool.

Liverpool is classified as a Strategic Centre in the NSW Government's 'A Plan for Growing Sydney' which identifies the development of the commercial core, and planning for long-term employment growth as key priorities. Liverpool City Council is also looking to plan for the future and to respond to the challenges associated with population growth, as it seeks to capitalise on its status as one of Sydney's regional cities in attracting new retail and services jobs.

According to Council, Liverpool's competitive advantages lie in the health and medical, distribution and logistics, professional services and manufacturing services which provide an impetus for the creation of high quality jobs across the local government area. 

Council notes that Liverpool has the opportunity and aspiration to become a hub for innovation with its city centre displaying the key attributes of an innovation precinct including a cluster of health and education institutions, increasing mixed-use development, transport options and a technically wired, walkable centre.

Liverpool is well served by the Hume Highway, the M5 and the Westlink M7, in addition to rail and bus infrastructure via Liverpool Station and the Liverpool to Parramatta transit way which provides a bus-only route for buses. Liverpool's core has a Hoddle Grid layout similar to Melbourne, with a network of laneways and arcades dissecting the centre with its retail core located on Macquarie Street which hosts a Westfield Shopping Centre.

Additionally, apartment prices in Liverpool are bucking the trend of the Sydney CBD, with prices far more stable. According to data from RP Data, over the last six months the Sydney CBD experienced a 9.6% drop in apartment prices with the Liverpool apartment market experiencing only a 2.1% drop.

Urban.com.au is currently tracking 35 projects at various stages of their lifecycles, which reflects the growing demand for property in Liverpool.

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments/liverpool-nsw?embeddable=map" width="100%"></iframe>

<h2>Sydney's third CBD</h2>

To reflect its status and the growing demand for residential and commercial accommodation, Liverpool City Council has rezoned 25 hectares in the city centre to provide the framework and catalyst for a "modern, vibrant, 18-hour economy to flourish," encouraging new businesses to set up while accommodating double the resident population in the CBD.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/amendment-to-lep-2008-map-1200px.jpg" rel="gallery-all" title=" 25 hectares in the heart of Liverpool has been rezoned. Image: Liverpool City Council"><img alt="" class="image-article-full-width-580px" height="452" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/amendment-to-lep-2008-map-1200px.jpg?itok=STzRDjf0" title=" 25 hectares in the heart of Liverpool has been rezoned. Image: Liverpool City Council" width="580"></a>

<figcaption>25 hectares in the heart of Liverpool has been rezoned. Image: Liverpool City Council</figcaption></figure>Liverpool City Council hopes to reinvigorate the CBD, encouraging the construction of multi-purpose buildings that could include cafes, bars and restaurants, retail, child care, office space and residential uses

<ul></ul>
<blockquote>
"This is the most significant leap forward for Liverpool since the city was first designed and the Hoddle Grid was laid down in 1827. Our city has great bones. We are built on the same plan as Melbourne’s city centre and now we are going to add to that the very best in contemporary urban design.

In the past 18 months, Council officers have spoken to more than 10 developers about projects worth up to $1 billion. There’s no doubt the development of Western Sydney Airport in our LGA has attracted a lot of attention on Liverpool.

We are strategically positioned as the key regional centre of the Western Parklands City. Under the City Deal we are helping lay the foundations for the creation of a thriving Western City of 1.5 million residents within 20 years. We want to create a vibrant city centre with an 18-hour economy,”

- Wendy Waller, Mayor of Liverpool
</blockquote>

Liverpool also stands to benefit from a number of other Council-led initiatives such as Liverpool Civic Place which would see the development of a mixed-use precinct including a new Council library and community hub, Council offices and Chambers, University of Wollongong South Western Sydney campus, student accommodation, a new public domain, and commercial and residential uses.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/liverpool_civic_place.jpg" rel="gallery-all" title="Liverpool Civic Place. Image: Liverpool City Council"><img alt="" class="image-article-full-width-580px" height="458" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/liverpool_civic_place.jpg?itok=9JPXAQGn" title="Liverpool Civic Place. Image: Liverpool City Council" width="580"></a>

<figcaption>Liverpool Civic Place. Image: Liverpool City Council</figcaption></figure>At a more regional level the development of the new Western Sydney Airport at Badgery's Creek by 2026 to be supported by the Aerotropolis is expected to deliver more than 12,000 smart jobs, educate 10,000 students and provide over 3,000 homes, upon completion. Already four universities - University of Newcastle, University of NSW and University of Wollongong, and Western Sydney University - have agreed to collaborate in order to deliver a new higher education precinct within the Aerotropolis.

Also located on land adjacent to the new airport is the planned Sydney World Trade Center - an $8 billion mixed-use proposal for with a vision for an international convention and exhibition centre, commercial space, an innovation and incubation centre for start-ups and retail and residential space.

With an unprecedented level of investment and forward-planning in the region to cater for population growth, Liverpool is well-placed to capitalise and thrive  on its newfound status as Sydney's third CBD.

For more details on Major Projects in Liverpool and the Greater Western Sydney region click on the links below: 

<ul>
<li><a href="https://www.liverpool.nsw.gov.au/development/major-projects/edmondson-park">Edmondson Park</a></li>
	<li><a href="https://www.liverpool.nsw.gov.au/development/major-projects/western-sydney-airport">Western Sydney Airport</a></li>
	<li><a href="https://www.liverpool.nsw.gov.au/development/major-projects/badgerys-creek-aerotropolis">Badgery's Creek Aerotropolis</a></li>
	<li><a href="https://www.liverpool.nsw.gov.au/development/major-projects/liverpool-city-council-projects">Liverpool City Council Projects</a></li>
</ul>
Lead Image: Liverpool Civic Place, Liverpool City Council 
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Liverpool's growing status as Sydney's third CBD adds to its appeal as a property hot spot

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The demand for property in Melbourne's West remains strong following the overwhelming success of the first stage of <a href="/new-townhouses/maidstone-vic-3012">Hampstead Park</a> in Maidstone. Purchasers have been attracted by the development's proximity to the Melbourne CBD and its value for money compared to surrounding suburbs. Hampstead Park offers the convenience and amenity of Footscray or Maribyrnong but at a fraction of the price, with 81% of stage one sold out at time of writing.

Designed by <a href="/architects/clarke-hopkins-clarke-0">Clarke Hopkins Clarke</a>, the overall Hampstead Park masterplan allows for up approximately 450 apartments, as well as 157 townhouses, located around a central communal park.

<blockquote>
"The vision for this new masterplanned mixed use precinct in Maidstone is to create a unique mixed use urban precinct that provides a vibrant place to live, work and play. Based on the 4 key principles of Community, Integration, Identity and Sustainability, the design will aspire to create a modern and vibrant community, that integrates within the existing context of the site, has a strong sense of identity, and shapes a socially and environmentally sustainable environment.

The village features a supermarket and specialty retail tenancies including restaurants/cafes, a community component comprising community centre, medical centre, gym, and child care centre to support the local population and complement the retail offerings provided by the established activity centre nearby. The new development will also feature a central park and plaza and a community park, and create an intimate streetscape network with a strong pedestrian focus, shaping a unique sense of place for the local community."

- Clarke Hopkins Clarke
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/hampstead_park_exterior_park_1200x550_1.jpg" rel="gallery-all" title="The development surrounds a central park space."><img alt="" class="image-article-full-width-580px" height="266" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/hampstead_park_exterior_park_1200x550_1.jpg?itok=Nl9ULonG" title="The development surrounds a central park space." width="580"></a>

<figcaption>The development surrounds a central park space.</figcaption></figure>Andrew Steele, Sales &amp; Marketing Manager at inPLACE provided Apartments.com.au with some insight on the projects success to date and why it has resonated with purchasers.

<div>
Apartments.com.au: What do you attribute the success of stage one of Hampstead Park to? Particularly in light of the current market conditions in Melbourne? 

Andrew Steele: Buyers are always looking for value, now more than ever in this current market. At Hampstead Park we have been able to demonstrate outstanding value to our purchasers by offering large, luxuriously finished townhomes in the immediate vicinity of Highpoint Shopping Centre and only 8km to Melbourne CBD. The reason we have seen such great success is that there are so many positive aspects to this master-planned community, real features that buyers are looking for, and we have been able to deliver them all at a truly affordable price.  To get all that Hampstead Park has to offer from just $740,000 for a 3 bedroom home and from $765,000 for a 4 bedroom home, it’s easy to see why buyers have taken to the project so strongly.
</div>

<div>
U: How does Maidstone compare to say Maribyrnong and Footscray from a price point? Is it an affordable alternative to these locations while still benefiting from proximity to the Maribyrnong river, Highpoint Shopping Centre and central Footscray? 

AS: Maidstone represents a unique opportunity to buy so close to the city at an affordable price. Our project borders right on Maribyrnong, where the median house price is nearly $170,000 more, and Footscray where the median house price is nearly $60,000 more. Hampstead Park offers all of the amenity of the surrounding suburbs, in an expertly planned community, at a much more affordable price. I think this is another reason why sales have been so strong – home buyers are surprised by what they get for their money and investors see the potential for strong capital growth.
</div>

<div>
U: Where are purchasers in Hampstead Park located? Are they from surrounding suburbs? And what demographic? 

AS:The vast majority of our buyers are from surrounding suburbs. A lot have come from Maribyrnong as they see the project as desirable and affordable and not really much of a move, we have also seen those from further our like St. Albans and Point Cook who want to be closer to the city, and even people from other areas in the north such as Brunswick and Preston. They are paying a fraction of the price of what they would be buying a townhouse of this quality in their current suburbs, yet they get to maintain the similar proximity to the city and enjoy the same lifestyle.
</div>

<div>
U: How many residences are left in Hampstead Park? 

AS: Of the 78 townhouses in Stage 1, there are only 15 remaining which is a great result. The great thing is that the floor plan types released initially are all still available except one, meaning that even those who are yet to buy haven’t missed out!
</div>

<div>
U: At the rate at which they're selling they're most likely to be gone by the end of the year. When will stage two be released and can buyers enquire now? 

AS: The aim is to have Stage 1 practically sold out by the end of the year. Stage 2 will likely launch in February which is are very much looking forward to.
</div>

----------------------------------------------------

Hampstead Park offers homes with no owners’ corporation, free-hold title and no common walls. There are massive stamp duty savings for investors and full stamp duty concessions for eligible first home buyers as well as the FHOG.

 
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Hampstead Park sees overwhelming success - Stage 2 set to launch in 2019

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Launched earlier this month, Melbourne real estate agency LongView is aiming to introduce a fundamental shift in the property investment space - offering property investors and mum and dad home owners a variety of services that will help them capitalise on their property investments.

LongView is offering Guaranteed Rent on any property an investor owns, providing them with financial security. LongView services over 1,800 properties across 146 suburbs all over Melbourne – enabling property investors and industry partners to have a single agency for all their Melbourne business.

LongView expects its Guaranteed Rent will provide property owners with a welcome boost, particularly with the growing uncertainty surrounding the future value of Melbourne’s property prices. Irrespective of whether the property is tenanted or vacant or whether the tenant is on time with paying rent or not, LongView's goal is to take the risk out of property investing.

Co-founder Evan Thornley, leads LongView’s executive team as Executive Director along with Antony Cohen - a former Senior Partner and Board Director of KPMG. According to Thornley, LongView is the only agency that offers their customers a binding legal contract for Guaranteed Rent on any investment property - at full market value, ensuring secure cash flow for landlords and investors.

For more information visit https://longview.com.au

<h2><a href="https://longview.com.au/our-team/#leadership">Evan Thornley, Executive Chair</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/evan_2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="580" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/evan_2.jpg?itok=SX5v7Cmt" width="580"></a></figure><blockquote>
“Investors have been demanding change for a long time and we have spent four years of intensive research developing every aspect of LongView Real Estate. We’ve been talking to property investors and listening to their concerns and hearing their needs.

While Guaranteed Rent is a fantastic concept that we are very proud of, we absolutely focus on getting the basic services to clients right as well. That means being accessible till 10pm at night, have clear contact details in every email and regularly asking and measuring our client satisfaction.

LongView’s focus is on servicing investors’ needs, and helping them understand all the options to maximise value from their property investments - not constantly pressuring to sell - that’s our point of difference.

Property investment is a long game.  Investors need an agency that will deliver the basics every day for decades and give them unbiased advice on all their options when the big decisions come for each property.

We have developed a model that works, using data to help support our insights. We offer a unique Guaranteed Rent for their property – something no other agency will do. By delivering the basic services with measured quality standards and guaranteed cash flow, we offer property investors stability and peace of mind.

Property investors make their money over decades through capital growth and rising income. We offer an alternative to traditional real estate agencies that aren’t focused on investors and push for a one-month romance to pressure you to sell. We seek to deliver the best basic services every day for decades and unique options and services for the big property decisions.”
</blockquote>
</body></html>

LongView launches with aim of introducing a major shift in real estate

<html><body>
Since its inception in 2015, Wipeout Dementia has attracted support from across the property industry, including a number of regular senior executive surfers and generous donors, in addition to raising close to $1 million in funds and generating widespread media coverage.

Ambassadors for Wipeout Dementia are Richard Grellman AM, Chairman of IPH Limited and former Chairman of The Association of Surfing Professionals (International) Limited, and 1978 World Surfing Champion Wayne "Rabbit" Bartholomew AM.

Wipeout Dementia is held in honour of Richard Grellman’s wife, Suellen, who was diagnosed with young onset Alzheimer’s disease aged 61, and is now in advanced stages of the disease, requiring full-time, high level care aged just 68. Dementia is the second leading cause of death in Australia and the leading cause of death in the United Kingdom.

<blockquote>
"Dementia is now estimated to cost Australia more than $15 billion annually. By 2056 the total cost of dementia is predicted to increase to more than $36.8 billion in today’s dollars.

Clearly we need a colossal increase in funding to support key research to alter the course of dementia forecasts. The projections clearly indicate this is only going to increase.” 

- Richard Grellman AM, Wipeout Dementia Ambassador and Spokesman for The Dementia Momentum
</blockquote>

Without a medical breakthrough, the number of people with dementia is expected to reach 1,100,890 by 2056 (nearly 3 times as many as today).The number of new Australian cases of dementia are projected to increase from current rates of 244 people per day to over 650 people per day by 2056.

With people aged 65 and over set to comprise over 20% of the population within the next decade and dementia now the single greatest cause of disability in this demographic, senior executives across Sydney’s property industry joined forces at Bondi Beach on Friday, 23 November to Wipeout Dementia - raising $150,000 for key dementia research at the Centre for Healthy Brain Ageing (CHeBA), UNSW Sydney. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/wipeout_dementia_nov_2018.jpg" rel="gallery-all" title="Wipeout Dementia 2018. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/wipeout_dementia_nov_2018.jpg?itok=wFbS7c1q" title="Wipeout Dementia 2018. Image: Supplied" width="580"></a>

<figcaption>Wipeout Dementia 2018. Image: Sprout Daily</figcaption></figure>Surfers in the 23 November Wipeout Dementia event represent many organisations across the property industry including Colliers International, Aoyuan International, Lendlease, The GPT Group, Ray White Commercial, State Property, m3property, Sense Projects, AMP Australia and Shape Australia. 

Four teams of surfers were brought to the Wipeout Dementia cause by Avenor Director Peter Clemesha, Director of Bates Smart Philip Vivian, Craig Rodgers of Charter Hall and Steve Watson, Managing Director of Steve Watson &amp; Partners. The teams and participants were as follows:

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/clemos_diehards.jpg" rel="gallery-all" title="Clemo's Diehard Surfers. Image: Sprout Daily"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/clemos_diehards.jpg?itok=ttlp0Pvg" title="Clemo's Diehard Surfers. Image: Sprout Daily" width="580"></a>

<figcaption>Clemo's Diehard Surfers. Image: Sprout Daily</figcaption></figure>CLEMO’S DIEHARD SURFERS – captain Peter Clemesha of Avenor

<ol>
<li>Wayne “Rabbit” Bartholomew – 1978 World Surfing Champion</li>
	<li>Peter Clemesha – Director, Avenor</li>
	<li>Ali Clemesha – Account Manager, NewsCorp</li>
	<li>Joel Ducey – Director, m3property</li>
	<li>Matthew Faddy – Head of Office &amp; Logistics, The GPT Group</li>
	<li>Badier Kubis – Head of Projects, Tango Projects</li>
	<li>Jeff Moxham – Managing Director, Ray White Commercial</li>
	<li>David Scardoni – Director, Stamford Capital Australia</li>
	<li>George Sharpe – Builder Broker, Haigs Builder Brokers</li>
</ol>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/phils_goats.jpg" rel="gallery-all" title="Phil's Goats. Image: Sprout Daily"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/phils_goats.jpg?itok=yBPs9N71" title="Phil's Goats. Image: Sprout Daily" width="580"></a>

<figcaption>Phil's Goats. Image: Sprout Daily</figcaption></figure>PHIL’S GOATS – captain Philip Vivian of Bates Smart

<ol>
<li>Darren Beasley – Deputy General Manager, Aoyuan Property Group</li>
	<li>Mark Gross – Director, Morgans Financial</li>
	<li>Peter Kleijn – Design Manager, Winten Property Group</li>
	<li>Brett Newman – CEO, State Property</li>
	<li>Karl Riedel – Finance Lead for Asia Pacific Buildings &amp; Infrastructure, Jacobs/SKM</li>
	<li>Adam Russell – Principal Architect, Roberts Day</li>
	<li>Martin Taylor – NSW Architect, Creatures of Habitat</li>
	<li>Chris Tootell – Senior Project Manager, Tango Projects</li>
	<li>Philip Vivian – Director, Bates Smart</li>
</ol>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/cliffs_carvers.jpg" rel="gallery-all" title="Cliff's Carvers. Image: Sprout Daily"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/cliffs_carvers.jpg?itok=YdNAvBHv" title="Cliff's Carvers. Image: Sprout Daily" width="580"></a>

<figcaption>Cliff's Carvers. Image: Sprout Daily</figcaption></figure>CLIFF’S CARVERS – captain Craig Rodgers of Charter Hall

<ol>
<li>Scott Anderson – Director, Colliers International</li>
	<li>Brett Eichhorn – Director, Sense Projects</li>
	<li>Vince Kernahan – National Director, Institutional &amp; Investment Services (NSW), Colliers International</li>
	<li>Darren Mansfield – Practice Director, Context</li>
	<li>Stephen Newey – Director, Head of Operations &amp; Sustainability – Jones Lang LaSalle</li>
	<li>Craig Rodgers – Innovation Lead, Charter Hall</li>
	<li>Anthony Scotts – Director, AWM Commercial Furniture &amp; Joinery</li>
	<li>Sam Wicks – Director, Baldwin Wicks</li>
	<li>Phill Wicks – General Manager, Shape Australia</li>
</ol>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/wattos_waverhunters.jpg" rel="gallery-all" title="Watto's Wavehunters. Image: Sprout Daily"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/wattos_waverhunters.jpg?itok=hJkaEhxz" title="Watto's Wavehunters. Image: Sprout Daily" width="580"></a>

<figcaption>Watto's Wavehunters. Image: Sprout Daily</figcaption></figure>WATTO’S WAVEHUNTERS – captain Steve Watson of Steve Watson &amp; Partners

<ol>
<li>Pip de Rohan – Director of Strategy, Project One</li>
	<li>Rodney Jamieson – Business Development Director – FDC Construction &amp; Fitout</li>
	<li>Patrick Nicholas – Director, AN+A</li>
	<li>Iain Pretty – Projects Director, AMP</li>
	<li>Anthony Roberts – Senior Project Manager - Lendlease</li>
	<li>Craig Shelsher – Director, Custance Associates</li>
	<li>Duncan Young – Head of Health &amp; Wellbeing, Property - Lendlease</li>
	<li>Steve Watson – Managing Director, Steve Watson &amp; Partners</li>
</ol>
<h2>Awards</h2>

Most Valuable Player awards this year, voted by the teams Captains, went to Stephen Newey of Cliff’s Carvers, Darren Beasley of Phil’s Goats, Ali Clemesha of Clemo’s Diehards and Patrick Nicholas of Watto’s Wavehunters. 

Campaign MVP awards went to Darren Beasley and George Sharpe who were nominated by Heidi Douglass, creator of Wipeout Dementia and coordinator of the event due to their extraordinary personal efforts to increase corporate sponsorship, raise funds, attendance at all events and referral of new property industry surfers, respectively taking home a Hurley Wetsuit and Scentre Group voucher alongside Hurley merchandise.

Two Wipeout Awards were taken home this year: first was an attempt at a barrel roll on the shorey that ended up being drydocked from third time participant Peter Kleijn and the other was a total commitment to a wave that saw team captain Philip Vivian receive a headbutt from his board.

This year’s top scoring Wave of the Day award went to Matthew Faddy who, after producing multiple back hand snaps got to take home a pack of Hurley and DHD merchandise.  Second and third highest wave scorers in this round who took home DHD leg ropes, hoodie towels and caps were Anthony Scotts and Scott Anderson. 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/zyG4WgwIoIQ" width="560"></iframe>

The surfing event, which supports The Dementia Momentum initiative at CHeBA, also aims to highlight the global social and economic impact of dementia. 

Richard Grellman confirmed that the property industry executives had well surpassed their target raising over $150,000 to advance the large-scale, “big data” research being conducted at CHeBA.  

To sponsor one of the Wipeout Dementia participants go to: <a href="https://cheba2.everydayhero.com/au/2018-property-industry-wipeout-dementia/members" rel="noopener noreferrer" target="_blank">https://cheba2.everydayhero.com/au/2018-property-industry-wipeout-dementia/members</a>

For more information about the Centre for Healthy Brain Ageing (CHeBA), visit <a href="http://www.cheba.unsw.edu.au/" rel="noopener noreferrer" target="_blank">www.cheba.unsw.edu.au</a> 
</body></html>

Industry does its part to help 'Wipeout Dementia' raising over $150K

UPDATE: 
We have re-evaluated the home buyer guide from 2020&nbsp;and adapted it for 2021. Some things have changed, some things have remained as they are, inform yourself on the best ways to purchase a home in 2021! 
Feel free to add your comments below and any contributing suggestions. 
 
Buying your first home can seem like a daunting task. Entering the property market is expensive and confusing, plus there is so much information you need to be across. However, it is absolutely worth getting your foot in the door and investing in your future with a property.

That's why we, the friendly folk at <a href="/">Urban</a>, have put together the ultimate guide to buying a home. You can refer to this as a checklist of sorts to ensure you get it right the first time, making it easier for the second.

<h2>Why buy a home when you can rent?</h2>

[smartcode_project:default project_id=5234]

It seems simple, but many people ignore the fact that putting money into your mortgage over someone else's is always going to be more beneficial in the long run. Sure, it come with a little more work and expense (you have to fix your toilet as opposed to calling the landlord), but one day that asset could provide you with a steady income through rent, a large sum when sold, or make it easier for you to expand your property portfolio.

Plus if your first home ends up being your forever home you will have a lot of extra money to play with once it is paid off.

<h2>Where to find homes? Hunting for a first home</h2>

When looking for your first home, there are a few factors to consider:

<table border="1" cellpadding="1" cellspacing="1" style="width:500px;">
	<tbody>
		<tr>
			<td>Cost</td>
			<td>What will fit your budget?</td>
		</tr>
		<tr>
			<td>Lifestyle</td>
			<td>Where do you want to live, how easy will it be to get to shops and amenities?</td>
		</tr>
		<tr>
			<td>Investment strategy</td>
			<td>Where do you want to live, how easy will it be to get to shops and amenities?</td>
		</tr>
		<tr>
			<td>Size</td>
			<td>Will it be big enough if your family grows</td>
		</tr>
	</tbody>
</table>

Unfortunately, not all of these factors align, and you may have to trade your dream of living in a flash South Yarra apartment for a slightly larger townhouse in further from the city. Once you understand what your budget and necessities are, there are tools like the <a href="/developments">Urban search bar</a>, which has the largest project database, that can help you hone in on appropriate locations.

<h2>How to buy a home</h2>

[smartcode_project:default project_id=6515]

When it comes time to buy your first home, you will likely be faced with either a private sale or auction.

<h3>Private sale</h3>

While these two methods are actually pretty similar, a private sale is a little less intense and removes the risk of an accidental sneeze which makes you raise your paddle accidentally costing you a million dollars (kidding, they don't use paddles). If you are happy with the advertised price, you can simply buy the property, but there is also room for negotiation with the vendor via a real estate agent. You may still find yourself in a bidding war, but it will be far less stressful.

<h3><a href="/new-apartments">Buying off the plan</a></h3>

[smartcode_project:default project_id=3459]

There are many reasons <a href="/guides">why buying off the plan</a>&nbsp;is an excellent idea for new homeowners, and the one at the top of the list is the price. You will likely get a better deal in a developing area as the trade-off for not actually being able to see your house before buying it. Don't be scared by this, just ensure you study the plans and keep an open line of communication with the developer during construction.

<h3>Auction</h3>

This method involves bidding against other buyers in an open forum which usually sees properties sell for higher than the advertised range. If the property does not sell, you can enter negotiations after the auction which reverts to more of the private sale style method. You can also make an offer to the vendor before the auction if you want to try and avoid the bidding process.

<h2>Location - Where to buy (inner vs. outer suburbs)?</h2>

[smartcode_project:default project_id=3205]

They say location is everything and while that may be somewhat debatable there is no argument that it is extremely important. It is however fairly subjective. For example, you may be a city dweller, or prefer the peace of the outer suburbs. <a href="/news/urbans-top-5-for-october-most-viewed-suburbs">The popularity of particular areas</a> can also change depending on a range of factors like new developments and public transport.

<h3>Buying a home in the CBD - is it a good idea?</h3>

Chances are you will be looking at a smaller dwelling in the densely populated city areas, like an apartment or townhouse. If so, it is important to consider the noise factor, how many apartment blocks are in your building, is there a strata cost per year and will you have secure parking?

<h3>Buying a home in the suburbs - inner vs. outer?</h3>

If you want to be away from the hustle and bustle with a little bit more space, the suburbs are your spot. However, you want to ensure that you have easy access to any necessary amenities, schools, public transport, medical facilities, and some great dining and entertainment options because life in the suburbs can still be a lot of fun!

<h2>Planning your budget</h2>

Your financial situation will determine a lot of the factors for where and what you can buy along with your standard of living. The main things to consider are:

<table border="1" cellpadding="1" cellspacing="1" style="width:500px;">
	<tbody>
		<tr>
			<td>
			Your financial commitments and current savings/income
			</td>
		</tr>
		<tr>
			<td>
			Future plans and the associated costs
			</td>
		</tr>
		<tr>
			<td>
			Interest rate rises
			</td>
		</tr>
	</tbody>
</table>

<h2>The costs of buying a property</h2>

There is, unfortunately, a lot more than just the price tag when it comes to buying a home. You have to take into account:

<ul>
	<li>Fees for legal requirements and conveyancing</li>
	<li>Loan application or ongoing fees</li>
	<li>Stamp Duty</li>
	<li>GST</li>
	<li>Building inspection fees</li>
	<li>Moving costs</li>
</ul>

Add to this the ongoing cost of property ownership which can include:

<ul>
	<li>Loan repayments</li>
	<li>Insurance</li>
	<li>Utility bills</li>
	<li>Council rates</li>
	<li>Emergency Services Levy</li>
	<li>Body Corporate Fees</li>
</ul>

If you are a first home owner, however, you may be eligible for the first home owner grant, a one-off payment for those buying or building their first home.

<h3>How to arrange financing for your new home</h3>

More important than the amount you need is the amount you feel comfortable borrowing. There are plenty of <a href="https://www.aussie.com.au/home-loan-calculator">home loan calculators</a> that will give you a rough idea on what payments will be over certain periods of times and amounts. You will also need to speak to your lender about any associated fees and charges.

<h2>Inspecting property before buying</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/inspecting-before-purchase-home.jpg" rel="gallery-all" title="Inspecting Home Before Purchasing"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/inspecting-before-purchase-home.jpg?itok=MVNM8LYm" title="Inspecting Home Before Purchasing" width="580" /></a>

<figcaption>Inspecting Home Before Purchasing</figcaption>
</figure>

With the exception of <a href="/guides">buying property off the plan</a>, you should always inspect your potential new home before making an offer or placing a bid. It is also a good idea to have the house checked by a property and pest inspection company which may save you a lot more money down the track if you are to realise there was a hidden issue prior to purchase.

As part of the loan process, your lender will require their valuer to inspect the property, it can also be good to have an independent value report done for yourself as well.

It is important to note that <a href="https://www.consumer.vic.gov.au/housing/buying-and-selling-property/buying-property/inspect-properties-before-you-buy">any illegal alterations </a>that have been made to the property could become your responsibility when the home becomes yours.

<h2>Borrowing money to buy a home</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/borrow-money-for-new-home.jpg" rel="gallery-all" title="Borrowing Money For Your New Home"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="386" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/borrow-money-for-new-home.jpg?itok=dHngH7pf" title="Borrowing Money For Your New Home" width="580" /></a>

<figcaption>Borrowing Money For Your New Home</figcaption>
</figure>

The stumbling block for people who want to buy a home is usually the deposit which is 20% of the purchase price. When borrowing, however, the bigger your deposit, the lower your loan to value ratio (LVR). This is calculated with the amount of the loan divided by the purchase price of the property.

If it turns out that your loan to value ratio is higher than 80%, you will be required to pay lender's mortgage insurance, a cost that you will want to avoid if possible. This is why in many cases it is better to wait until your deposit is a little bigger to avoid higher ongoing costs.

<h3>The upfront costs of buying a home</h3>

The following costs will need to be accounted for during your budgeting and loan application:

<table border="1" cellpadding="1" cellspacing="1" style="width:500px;">
	<tbody>
		<tr>
			<td>Stamp duty</td>
			<td>A one-off tax that varies by state based on the property price and location</td>
		</tr>
		<tr>
			<td>Conveyancing fees</td>
			<td>A conveyancer will be required to ensure you meet all legal requirements necessary when purchasing a new home</td>
		</tr>
		<tr>
			<td>Removalist</td>
			<td>Moving in will cost money, best to get a bunch of different quotes</td>
		</tr>
		<tr>
			<td>Inspections</td>
			<td>Having a qualified building inspector asses structural integrity, wiring, etc</td>
		</tr>
	</tbody>
</table>

<h2>Property Insurance</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/property-insurance-a-must-have.jpg" rel="gallery-all" title="Property Insurance "><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="385" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/property-insurance-a-must-have.jpg?itok=6KaLdR6m" title="Property Insurance " width="580" /></a>

<figcaption>Property Insurance</figcaption>
</figure>

You've spent all of this money on your new home; you will definitely want some insurance cover to protect it. Your financial institution will also likely require it as a condition of your home loan. Home insurance will cover the cost of rebuilding or repairing your home if an unfortunate event befalls it.

Along with this, you may want to consider contents insurance to protect everything inside of the home as well. Most policies will also cover particular possessions if they are lost, damaged or stolen outside of the house as well. Combine the two into a single policy for ease and better value.

<h2>Legal matters (they do matter before purchasing your house)</h2>

It is important we note that here at Urban we do not provide legal advice and strongly recommend you contact a lawyer for any legal matters concerning the purchase of your new home.

Real estate laws differ per state, and while real estate agents can help with legalities, like preparing a purchase contract, it is also a good idea to involve your own lawyer. Some states will require a lawyer to perform a title search.

<h2>The benefits of having a lawyer</h2>

Most purchase contracts are similar. However, legal issues may arise that are outside of the expertise of your real estate agent. An example could be the note we mentioned before about homes with illegal modifications which become your problem after purchase.

Your lawyer can also make sure that there are no illegal or unfair inclusions in the purchase contract which differ from the standard or at least make you aware of any clauses that do.

<h2>Next Steps</h2>

After all of the above is considered you may now be ready to buy your first home. If so, keep in mind these points:

<ol>
	<li>Don't be scared of the commitment; you can always rent or sell if it becomes too much</li>
	<li>Sometimes getting into the property market is better than finding your dream home straight away</li>
	<li>Sacrifice the nice-to-haves (like a giant TV) to make your dream of owning a home come true. Older generations ate dinner on milk crates for the first few months after buying a home before they could afford the nice dining table. We don't need it all straight away</li>
	<li>Do your research and be informed about the areas you want to buy in, including future developments</li>
	<li>Get a pre-approval letter from your lender</li>
</ol>

<h2>Summary</h2>

The idea of buying your first home may seem scary and exciting, and it should probably be a healthy mix of both those things! Just crunch the numbers and make sure the move to purchase a significant asset is right for you, stick to your budget, and you'll be fine.

You will no doubt enjoy the satisfaction of putting your hard-earned money into your own home, and future you will be thrilled you made the investment. Plus you can hang as many pictures and have as many pets as you like, bonus!

NB: Article updated February 2021

How to Buy a House in 2021: A Guide For First Time Home Buyers

How To Invest in Property in 2020: The Ultimate Guide 

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Alastair runs through this week's news highlights - <a href="/news/traditional-residential-developers-cash-in-on-yarras-300000sqm-commercial-boom">City of Yarra and it's large commercial pipeline</a>, the Gold Coast's proposed ferry service and the Hurstbridge Line project proposal from the Victorian Government.

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Weekly Podcast: Episode 26 - City of Yarra's commercial project pipeline

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

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