Commercial property group FiveX is doubling down on its move into the residential space.

The group, founded by Joshua and Marko Berger more than five decades ago, has followed up its plans for a 39-storey tower on North Sydney's Alfred Street with a proposed 61-storey tower in Chatswood.

The new tower at <a href="https://www.apartments.com.au/new-apartments/815-pacific-highway-chatswood-nsw-2067">815 Pacific Highway</a>, which would be one of the tallest proposed in Chatswood in recent years, will comprise 490 apartments, 76 of which will be dedicated affordable housing and managed by Evolve Housing for a minimum of 15 years.

The project will replace the long-standing Panorama Building, originally known as the BMA Tower, a 14-storey office building completed in 1972 and designed by Hungarian-born architect Hugo Stossel. At the time of its completion, the building was the tallest structure in Chatswood and became a local landmark due to its distinctive curved form and external glass lift.

<img alt="FiveX" data-entity-type="file" data-entity-uuid="956bd299-3864-47a0-8ea6-162b5524c5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.02.03%E2%80%AFPM.png?VersionId=EWx7teUr7RcYrI9mgRytwppwt5AdUDtb" />

fjcstudio is behind the designs. Its Architectural Design Report argues the ageing commercial building no longer reflects Chatswood's role as one of Sydney's key strategic centres and that the site is ideally positioned to support significantly higher residential density.

"The site is located at the heart of Chatswood, within the TOD accelerated rezoning area that supports higher density development around the new Metro station," the report states.

"The site's role within a walkable 400-metre radius catchment is where housing, employment, retail and community uses are encouraged to cluster in support of transit-oriented living."

<img alt="fjc" data-entity-type="file" data-entity-uuid="8d198f5e-cc71-4175-9357-be6ec7207473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.18.27%E2%80%AFPM.png?VersionId=5WUFc3IYBPvhQMBUYLCsjJhzdcVeYodE" />

The proposal has undergone two rounds of review by the NSW State Design Review Panel, with the design evolving through an extensive assessment process focused on design excellence, public realm outcomes, residential amenity and the integration of affordable housing.

fjcstudio says the residential component provides a diverse mix of apartment typologies, supporting a broad demographic and contributing to housing supply in a highly accessible location close to major transport, employment and retail infrastructure.

The application follows FiveX's plans for a 39-storey tower at <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">275 Alfred Street</a>, which it <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">submitted through the same NSW Government pathway</a> in December. That's for 184 apartments.

Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.

Joel Robinson

First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans

Bridgewell Capital and SLD Development seem to be bullish on the Killara apartment market, filing plans for a second new development next to the Killara Golf Club.

The new plans are for 79 apartments across an amalgamated 4,989 sqm site on Buckingham Road.&nbsp;The project has been designed by BKA Architecture and is being assessed under the NSW Government's Low and Mid-Rise Housing and Infill Affordable Housing reforms. It is just 300 metres from&nbsp;Killara train station.

The majority of the apartments are three-bedrooms (46), with 23 two-bedroom apartments, seven one-beds, and three four-bedroom apartments. 17 of the apartments&nbsp;are proposed as affordable housing, representing 15 per cent of the project's gross floor area, allowing the development to access additional floor space and height incentives available under the NSW Housing SEPP.

There will be 131 resident and visitor car spaces, and more than&nbsp;1,450 sqm of communal open space. Landscaped areas would account for approximately 45 per cent of the site.

<img alt="Killara" data-entity-type="file" data-entity-uuid="75ef5ef7-a53b-4932-a8f1-38f63169eec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%2011.04.00%E2%80%AFAM.png?VersionId=d_lG1A1StDaMQilljy25Fr8SF1BnAmKE" />

The site currently contains three detached dwellings and occupies a prominent position on the eastern side of Buckingham Road, with frontage to an area that has already begun transitioning towards higher-density housing. Existing apartment buildings of up to six storeys surround the site, while the Killara Golf Club forms its southern boundary.

The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.

According to the design report, the proposal has been shaped by the area's evolving planning framework, which is encouraging greater housing density around transport infrastructure.

"The site sits along a growth area anticipated to undergo transformation in line with broader trends across New South Wales, driven by the implementation of the Low and Mid-Rise and Transport-Oriented Development State Housing Policies," the report states.

"Being within 800 metres walking distance to Killara Train Station, the project seeks to provide high-quality apartments designed for various family sizes, located in a vibrant landscaped setting."

The Upper North Shore suburb has become one of the most closely watched testing grounds for the NSW Government's housing reforms. A number of developers have moved quickly to consolidate sites around railway stations across suburbs including Killara, Lindfield, Gordon and Roseville, where the new planning settings are creating opportunities for apartment developments that would previously have been difficult to achieve.

The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.

Bridgewell has several developments in the pipeline. Last September they submitted plans for <a href="https://www.apartments.com.au/news/nsw/bridgewell-capital-seeks-55-apartment-project-in-killara">55 new apartments</a> at&nbsp;23-25 Lorne Avenue in Killara, just the other side of Regimental Park from their new project. In May they filed for <a href="https://www.apartments.com.au/news/nsw/first-look-bridgewell-plots-120-apartments-and-childcare-centre-in-maroubra-town-centre">120 apartments in Maroubra</a>.

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First look: Bridgewell, SLD Development double down on Killara Golf Club

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

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Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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A Lilyfield home with authentic 1950's kitchen with breakfast nook has been listed for 9 May auction.
The 1900 Federation home on 215 square metre block has three bedrooms, the main with window seat.
There are high patterned ceilings and cornices.
Its level back garden finishes off the package with lawn and Hills Hoist
All five minute walk to parks, supermarket and the light rail.
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<div data-read-more-height="215">
The <a href="https://www.pilcher-residential.com/4948414/16-Starling-Street-Lilyfield" target="_blank">16 Starling Street offering</a> is being offered through Pilcher Residential with price guidance over $1.05 million. 
"Owned by the same family since 1946, the house is being sold with its vintage furniture included," listing agent Simon Pilcher said.
<div data-read-more-height="215">
On the Saturday, after bidding opened at $1.1 million, an original 1950s home at fetched $1.52 million for a classic 1950s family home in Eastwood.
Marketed as a "quintessential Aussie red-brick house," the three-bedroom home on a 778-square-metre block at <a href="https://www.domain.com.au/property/sold/house/nsw/eastwood/?adid=2011897191">205 North Road</a> had 18 registered bidders.
It last sold at 6400 pounds in the 1960s, reported the SMH's 50s aficionado, Anna Anderson. 
After the buyers - who were accompanied by parents visiting from China - indicated plans to keep and extend, the BresicWhitney agency <a href="https://www.propertyobserver.com.au/https://twitter.com/BresicWhitneyEA/status/595009767317188608" target="_blank">tweeted</a>: New Life: "Red Brick Survivor" passed to the next generation of Aussie families in #Eastwood.<a class="twitter-timeline-link" href="https://t.co/wgSmhR98oi" target="_blank" title="https://ow.ly/MsyTl" rel="nofollow" style="line-height: 1.3em;" data-expanded-url="https://ow.ly/MsyTl"> </a>
The last time interest rates were at current levels was in the 1950s and 1960s. In March 1960 the minimum interest rate applied on loans accepted by authorised dealers on the short term money market was 2.69% with the maximum rate of 3.38% and an implied weighted average rate of 2.70%.
Certainly very low interest rates were common through the 1940s, 1950s and most of the 1960s. For instance in 1952, the 3-month commercial bank deposit rate was just 0.71 per cent and even in 1956 it had lifted to only 1.25%. Housing loan rates held at 5.00% through 1959 and 1960. Trading bank overdraft rates were between 5.00-6.00% in the late 1950s/early 1960s, according to the Commonwealth Bank of Australia Statistical Bulletins.
A key reason why interest rates were low was because wages and prices were under control. In the 1958/59 year, wages rose by 2.5%, retail prices rose by 2.6% and the consumer price index rose by 1.9%, Craig James the chief economist at CommSec once noted. 
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jchancellor-FAypfDUnLy

 Knockout original 1950s kitchen in Lilyfield auction

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GUEST OBSERVATION
The March dwelling approvals report came in above expectations with approvals rising 2.8% v market and Westpac expectations of a 2% dip.
The context here is important – approvals surged 25% in the final three months of 2014 and have broadly held on to these gains in early 2015 with moves of +0.3% in January, –1.6% in February and now +2.8% in March.
Although small, the March rise takes approvals to a new record high that, if sustained for another 11 months would see annual approvals at 233,000 – that compares to approvals of 210,000 over the last 12 months which is already well above the previous recorded peak of 201,000 in 1973 (more recent peaks have topped out at around 180,000).
The main driver of recent strength has been in NSW and VIC units where large high-rise projects have been key. This presented a potential downside risk to monthly approvals if a ‘gap’ in the project pipeline emerged.
This clearly did not occur in Mar with private sector unit approvals posting a robust 5.3% month rise. An initial glance at the detail suggests high rise was again the main driver.
The other detail was a touch better than expected. Private sector detached house approvals were up 1.1% after a five months run of flat results and despite construction related finance approvals showing signs of flattening out.
The state detail shows a modest firming in NSW and VIC is offsetting weakness elsewhere.
The value of renovation approvals fell back in March and is flat on a year ago. The value of non-residential approvals was up but is bouncing round a low level, down 20% year on year.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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po-LsXgBTHBmX

Australian dwelling approvals above expectations: Matthew Hassan

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This week there were 2,419 capital city auctions held and the preliminary clearance rate was 79.0%, a good start to May, following on from last week’s record result (82.3%) across the capital city auction markets, when just 604 auctions were held.  
This week’s preliminary clearance rate is the third strongest combined capital city clearance rate on record, topped only by last week’s clearance rate and the 79.7% recorded in mid-September 2009. At the same time last year, 2,053 homes were taken to auction and the clearance rate was 63.2%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Capital-City.jpg"><img class="aligncenter size-full wp-image-4639" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Capital-City.jpg" alt="20150503 Capital City" width="983" height="735"></a>
Melbourne’s preliminary clearance rate this week was 81.3%. There were 1,110 auctions held across the city and so far 963 results have been reported. Last week, only 183 Melbourne homes were taken to auction, however demand was still strong, with 86.6% of homes selling.
 One year ago, Melbourne’s clearance rate was almost 20 percentage points lower, at 61.9%, while auction volumes were also lower, with 891 auctions held. This week, six out of the nine individual Melbourne sub-regions saw auction clearance rates above the 80% mark. The strongest performer this week was the Outer East region, where, across the 72 results reported, 65 were sold (90.3%).
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Melbourne.jpg"><img class="aligncenter size-full wp-image-4634" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Melbourne.jpg" alt="20150503 Melbourne" width="988" height="664"></a>
There were 839 Sydney auctions this week with a preliminary clearance rate of 87.3%, down from 89.7% last week and much higher than the 71.4% from one year ago. 
This week marks the 13th week in a row where Sydney’s clearance rate has been above 80%, and based on preliminary results, this is the third week in a row where Sydney’s clearance rate has been recorded at 87% or more. These strong results are no surprise given that one third of Sydney’s individual sub-regions recorded a preliminary clearance rate in excess of 90%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Sydney.jpg"><img class="aligncenter size-full wp-image-4636" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Sydney.jpg" alt="20150503 Sydney" width="990" height="672"></a>
This week, Brisbane’s preliminary clearance rate fell to 49.5% from 61.5% last week and 42.4% at the same time last year. There were 186 Brisbane auctions this week, compared to 41 last week and 142 last year. Across the Gold Coast there were 90 auctions held this week and so far 53 results have been reported with just 17 sales.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Brisbane.jpg"><img class="aligncenter size-full wp-image-4638" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Brisbane.jpg" alt="20150503 Brisbane" width="973" height="654"></a>
In Adelaide 158 auctions took place this week with a clearance rate of 72.5%. In comparison, at the same time last year, 97 Adelaide homes were taken to auction and 62.7% were reported as sold.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Adelaide.jpg"><img class="aligncenter size-full wp-image-4637" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/20150503-Adelaide.jpg" alt="20150503 Adelaide" width="987" height="661"></a>
A total of 45 Perth homes were taken to auction over the week, up from 12 last week. Based on the preliminary results, Perth’s auction market was relatively soft this week, with just 27.8% of the 18 reported auctions sold so far, compared to 42.9% last week.
In Canberra, the auction clearance rate increased to 81.5% this week, from 71.4% last week.
This week, 15 Tasmanian auctions were reported to CoreLogic RP Data, with 6 sales.
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smiller-vwPjRHTkST

Third strongest combined capital city clearance rate on record: Shana Miller

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Marshall White auctioneer James Tostevin secured a strong $6.35 million result when <a href="https://www.marshallwhite.com.au/57-broadway-camberwell-235798/" target="_blank">57 Broadway, Camberwell</a> went to weekend auction.
Tostevin was recently<a href="/news/james-tostevin-secures-third-win-as-australias-top-selling-agent"> named Australia's top selling selling agent</a> for the third consecutive year by Real Estate Business.
The auction was held in the park opposite the house, starting with a $5.2 million vendor bid. The 1896 home last sold at in December 2003 at $1,577,500.
Buyer's agent Mal James recalled there was a queue to get in during the open for inspections.
"While different, it had many similarities with the home we bought over $6 million a few doors away with the same agent (James Tostevin), same type (big period), same overseas buyer interest, same locale (Tara estate) a little while ago," James advised.
"Same incredibly strong turnout and result north of $6 million occurred for this brilliantly presented home – the value of fastidiousness and attention to detail was as good as I’ve seen – well done seller."
Ailu (pictured below), the 1885 Camberwell mansion, became the suburb's record price holder at auction last May. It fetched $6.8 million at its Marshall White auction with three strong bidders.
<img src="/images/2014/05/26/camberwell_0000_1.jpg.jpg" alt="Ailu, the 1885 Italianate Camberwell mansion, fetches $6.8 million record price">
The landmark Italianate, slate roofed Victorian residence on a 1,580 square metre block, last sold for $1.1 back in 1996. Locals advise that the earlier Camberwell record was set when lawyers Peter Gordon and partner Kerri O'Toole secured $6.275 million in 2012 for 69 Broadway. It was a five bedroom 1901 home on a 3300 square metre holding sold through Kay &amp; Burton which had likewise sold in the mid-1990s, selling at $1.25 million in 1998.
CoreLogic RP Data puts <a href="/news">Camberwell</a>'s median at a near record $1.38 million. 
CoreLogic RP Data's latest sale advisory gave the cheapest Victorian home to sell as 228 Broadway, Dunolly (pictured below) for $110,000 through Kate Ashton at Ballarat Real Estate. The Central Goldfields Shire district cottage last sold at $78,000 in 2008.
<img src="/images/2015/05/04/dunolly%20may%204.jpg" alt="">
There are 13 Broadway's across Victoria from Altona North to Wycheproof.
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Broadway homes star in recent Victorian sales- both at the cheapest and dearest ends

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Sydney's weekend clearance rate has headed even higher to 89%.
On busy weekends during the Autumn selling season, the auction success rate has incrementally risen to regular new record levels.
And APM put Melbourne at 82%.
A home in Sydney's Burwood was the top sale at $3.45 million through Raine &amp; Horne agent Guy Lorello who was giving $2.6 millii plus guidance.
The <a href="https://www.realestateview.com.au/Real-Estate/13-ethel-street-burwood/Property-Details-buy-residential-8557388" target="_blank">five bedroom 13 Ethel Street offering</a> sits on an elevated 854 square metre complete with a north facing rear garden and BBQ gazebo plus a huge three-car garage with internal access.
The block cost $520,000 in 1998, with the house built at least 12 years ago.
<a class="photobox cboxElement" href="https://www.realestateview.com.au/portal/viewphotos?OID=8557388&amp;popup=photos" style="line-height: 1.3em;"><img src="https://images.realestateview.com.au/pics/388/13-Ethel-Street-Burwood-NSW-2134-Real-Estate-photo-1-large-8557388.jpg" alt="13 Ethel Street Burwood NSW 2134 Real Estate Photo 1" title="13 Ethel Street Burwood NSW 2134 House - Photo 1"></a>
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<div id="soldbanner">In Melbourne it was an unrenovated knockdown on <a href="/expert-insights/buying/flight-centres-geoff-harris-extends-wings-on-st-vincent-place-albert-park">Albert Park's exclusive St Vincent Place</a>.</div>
<div> </div>
<div>April's overall auction clearance rate of 83.6 percent was an all-time monthly high for Sydney just ahead of the previous record set in March this year of 82.8 percent.</div>
<div>
Only the Melbourne market of winter 2001 recorded higher auction clearance rates than Sydney is currently experiencing - and only just, APM senior economist Dr Andrew Wilson said.
</div>
<div>Sydney’s red hot auction market took a rest over ANZAC Day last weekend following weeks of recording breaking results which had peaked at 88%.</div>
<div>
The inner west hosted the most number of auctions this weekend in Sydney with 99 followed by the city and east and the upper north shore each with 91, the south 88, and the lower north 62.
The most popular Sydney suburb for auctions was Lane Cove North with 12 followed by Mosman and Epping each with 11.
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</div>
<h2>APM's most expensive </h2>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5">
<thead><tr bgcolor="#4b9aaf">
<th bgcolor="#4694a9" width="70">CITY </th>
<th align="center" width="auto">Location </th>
<th align="left" width="80">Value Sold </th>
</tr></thead>
<tbody align="left">
<tr id="rpMostExpensive_trMostExpensiveRow_0">
<td id="rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_0">13 Ethel St, Burwood NSW 2134, 5 br House, R&amp;H Burwood</td>
<td id="rpMostExpensive_tdMostExpensiveSold_0">$3,450,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_1">
<td id="rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_1">67 St Vincent Pl, Albert Park VIC 3206, 3 br House, Greg Hocking Holdsworth</td>
<td id="rpMostExpensive_tdMostExpensiveSold_1">$4,210,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_2">
<td id="rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_2">44 Marion St, Unley SA 5061, 3 br House, Belle Property Unley</td>
<td id="rpMostExpensive_tdMostExpensiveSold_2">$1,210,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_3">
<td id="rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_3">15 Sentinel Ct, Cleveland QLD 4163, 5 br House, East Coast Residential &amp; Prestige</td>
<td id="rpMostExpensive_tdMostExpensiveSold_3">$1,950,000</td>
</tr>
</tbody>
</table>
 
<h2>APM's most affordable </h2>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5">
<thead><tr bgcolor="#4b9aaf">
<th bgcolor="#4694a9" width="70">CITY </th>
<th align="center" width="auto">Location </th>
<th align="left" width="80">Value Sold </th>
</tr></thead>
<tbody align="left">
<tr id="rpMostAffordable_trMostAffordableRow_0">
<td id="rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="rpMostAffordable_tdMostAffordableLocation_0">34 Katoomba Av, San Remo NSW 2262, 3 br House, R&amp;H Charmhaven</td>
<td id="rpMostAffordable_tdMostAffordableSold_0">$317,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_1">
<td id="rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="rpMostAffordable_tdMostAffordableLocation_1">11 Jacks Wy, Maribyrnong VIC 3032, 4 br House, Rendina Real Estate</td>
<td id="rpMostAffordable_tdMostAffordableSold_1">$100,000*</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_2">
<td id="rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="rpMostAffordable_tdMostAffordableLocation_2">3 Napoleon Ct, Paralowie SA 5108, 3 br House, LJH Walkerville</td>
<td id="rpMostAffordable_tdMostAffordableSold_2">$330,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_3">
<td id="rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="rpMostAffordable_tdMostAffordableLocation_3">2/111 Kingston Rd, Woodridge QLD 4114, 2 br Townhouse, HAR M1</td>
<td id="rpMostAffordable_tdMostAffordableSold_3">$166,000 
</td>
</tr>
</tbody>
</table>
APM's price records seemingly dropped a 0, as the property was marketed with $950,000 hopes. 
 
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Sydney's weekend clearance rate heads even higher to 89%

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A strong clearance rate of 80% was recorded at Melbourne auction, after 905 auctions were reported to the REIV.
It compared to 69% this weekend last year.
The highest sale reported to the REIV was $4.21 million in Albert Park, with <a href="/expert-insights/buying/flight-centres-geoff-harris-extends-wings-on-st-vincent-place-albert-park">whispers it sold to the neighbouring BRW Rich Lister Geoff Harris</a>.
There was a total volume of $642 million with the 83% success rate for houses triggering an $839,000 median house price sale, according to REIV chief Enzo Raimondo. 
The clearance rate for apartments was 74% with a median $616,000 price.
Unreported sales included $2,565,000 for the Wayne Gillespie-designed Toorak house of the Sydney-based TV presenters Andrew Denton and Jennifer Byrne.
Fairfax Media reported it had last sold at $2.35 million in 2010, reflecting less than 2% annual price growth. There were four bidders after the opening $2.2 million offer.
The four-bedroom house at <a href="https://www.realestateview.com.au/Real-Estate/24-woodside-crescent-toorak/Property-Details-buy-residential-8615230" target="_blank">24 Woodside Crescent</a> (pictured above) was listed through Kay &amp; Burton. It sits in a cul-de-sac with a pool and European-inspired terrace.
It was briefly advertised for rent at $1700 a week in May last year.
Another Toorak home, also bought in 2010 was sold at weekend auction for $4.6 million, having been bought for $3.79 million at 7 Power Avenue.
The Georgian-style, three-storey house at 7 Power Avenue was first sold by Neil and Nada Youren at $1.25 million, the top sale at the weekend when it was offered in 1995. The 772 square metre block cost $500,000 in 1994.
The most popular suburbs for auctions across Melbourne were South Yarra, Preston, Reservoir, Cheltenham, Brunswick and Glen Waverley this weekend.
REIV TOP 5 HOUSES 
1. 67 St Vincent Place, Albert Park $4,210,000 2. 23 Orrong Road, Elsternwick $3,010,000 3. 9 Glenview Avenue, Malvern $2,990,000 4. 37 Hopetoun Avenue, Canterbury $2,830,000 5. 81 Bogong Avenue, Glen Waverley $2,510,000 
REIV TOP 5 BARGAIN HOUSES 
1. 2 Chelmsford Crescent, St Albans $300,000 2. 13 Photinia Street, Doveton $302,000 3. 28 Welwyn Parade, Deer Park $313,000 4. 19 Deveney Street, Pakenham $315,000 5. 3 Eugenia Street, Doveton $320,500
REIV TOP 5 APARTMENTS 
1. 2/27 Darling Street, South Yarra $2,175,000 2. 3B Bryson Avenue, Brighton $2,115,000 3. 32A Sunlight Crescent, Brighton East $1,755,000 4. 20 Waverly Street, Sandringham $1,677,000 5. 10A Butler Street, Camberwell $1,485,000 
REIV TOP 5 BARGAIN APARTMENTS 
1. 4/6 Mayston Street, Hawthorn East $201,000 2. 5/6 Mayston Street, Hawthorn East $230,000 3. 36A Windrock Avenue, Craigieburn $236,000 4. 180A Grand Boulevard, Craigieburn $242,500 5. 36 Windrock Avenue, Craigieburn $257,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a>
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Less than 2% annual price growth as Andrew Denton and Jennifer Byrne secure Melbourne auction sale 

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Geoff Harris, the co-founder of Flight Centre, spent $12 million to upgrade in Albert Park last year.
And when the opportunity to buy the unrenovated home next door came up at auction today, the chance to expand appeared presumably irresistible.
There were just the two bidders, with local onlookers suggesting the new neighbour may have triumphed.
No confirmation from the selling agent Warwick Gardiner of Greg Hocking Holdsworth after the 302 square metre property sold for $4.21 million, well in excess of the anticipated $3 million plus expectations. 
A Victorian double-fronted, was marketed as the last unrenovated property in the trophy home square. 
Built in 1867, it originally was one of only three houses in the block between Montague Street and Merton Place, its first owner/occupier sailor, William Whitmore. It last sold around eight decades ago. 
Harris sits in 40th place on the BRW Rich List with an estimated $975 million net worth.
His $12 million purchase was of Hollyford, the much admired 1873 neighbouring residence, (pictured below) holds the mantle of the suburb's top sale.
Hollyford was built about 17 years after St Vincent Place was laid out, modelled on the English idea of houses clustered around its central landscaped gardens.
The heritage listed St Vincent Place home comes with rear Nicolas Murray-designed extension on its 480 square metre block.
The project involved restoring the front four rooms of an Italianate Victorian double fronted house along with a full width linear pond which marks the transition to the modern more informal living spaces which flows onto the garden and lap pool.
It previously sold in 2002 at around $2.2 million.
<img src="/images/2014/05/13/albert%20park%20may%2013%20two.jpg" alt="">
Hollyford, which has its 1873 construction date on its gorgeous vined facade, was the home of the mariner, Thomas Mowbray Hutchinson, according to the land title documents that Property Observer has researched. He owned the holding from 1867 to 1875, there with his wife, Honora and six children. He died in 1888 in Chusan Street, St Kilda with a subsequent 1899 court case over his estate.
<img src="/images/2014/05/13/albert%20park%20may%2013%20one.jpg" alt="">
Then pawn broker James Healy owned Hollyford for just 14 months. The Hammond family held the property from December 1876 until its sale to the Ryan family from Tipperary in 1899. It seems they gave the house its name as Hollyford is a small village in County Tipperary. The best known family member was George Ryan, who died in 1986, and was old enough to recall the picket fence left over from St Vincent Place's days as a racecourse. The Ryans sold around 2002.
Harris quit full-time duties at Flight Centre in 1998, and left the board in 2008. He remains a large shareholder of the company and has had subsequent success with Retail Zoo, the company behind Boost Juice  and Salsas Fresh Mex Grill.
His redundant Albert Park abode for $5,808,000, a five bedroom, tri-level Kerferd Road house.
He bought premises in inner Melbourne Collingwood which has been now rented out at $5 a year to the Reach Foundation, and then in 2013 the Victorian-era Collingwood former bordello building, Cromwell Manor, was made available to <a href="https://www.streat.com.au/cromwell" target="_blank">STREAT, an organisation that trains and employs homeless young people</a>, for just $5 a year for the 50 years. Cromwell House was bought for $2,585,000.
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Flight Centre's Geoff Harris extends wings on St Vincent Place, Albert Park?

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Since the last state election, Premier Daniel Andrews has been on a mission. While the previous state government managed to get itself stuck in a perpetual state of inertia very early on, the current Premier has been determined to be a man of action.

East West Link contracts torn up? Tick. Level Crossing removals out to to tender? Tick. Melbourne Metro funding bought forward? Another tick. But then he pulled a rabbit out of the hat that left even the most ardent of soothsayers flat footed: the <a href="http://consult.transurban.com/western-distributor-join-the-conversation">Western Distributor</a>. Essentially just a watered down version of the old Westlink proposal, is this the congestion messiah we have been waiting for?

The timing is extraordinary. Just weeks after coming to an agreement with the East West Link consortium to abandon an expensive road thought unnecessary, the Premier replaced it with a project to build an expensive road we don't need. It is a brave move. Crazy brave, as there are some startling comparisons to its defunct predecessor: no business case exists and it wasn't taken to an election, so technically there is no mandate.

The fact both major political parties have flipped from their previous positions (for the sake of political expediency) highlights one very unfortunate fact: the Western Distributor is a boondoggle.

There, I said it. Cue outrage from commuters stuck on the Westgate Bridge every day. Cue derision from motor interest groups like the Royal Automobile Club of Victoria (RACV), who have have been spewing forth their "We need a second river crossing to solve congestion on the Westgate" rhetoric with impunity for years, ignoring the inconvenient fact it will be neither the second crossing (we have six already), nor will it solve congestion.

Despite all this, Daniel Andrews has taken a punt on Western Distributor. Why?

Assessing East West Link, the project failed for a myriad of reasons, including trying to solve a problem that didn't exist. Only 5% of cars went from CityLink to the Eastern Freeway, hence there existed no real public appetite to build it. Add its exorbitant cost at $11 billion (the state would bear the brunt of, as well as all of the risk if it didn't perform financially) and it was no surprise to see East West Link disappear.

However, Daniel Andrews thinks he has mitigated those issues with the Western Distributor, and technically he has… in theory.

<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/057458-6c26a75a-fd19-11e4-abd8-e4ec9e966762.jpg" rel="gallery-all" title="The political posturing continues. Image courtesy The Australian"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/057458-6c26a75a-fd19-11e4-abd8-e4ec9e966762.jpg?itok=InmNol5l" title="The political posturing continues. Image courtesy The Australian" width="580"></a>

<figcaption>The political posturing continues. Image courtesy The Australian</figcaption></figure>As mentioned before, there certainly is an appetite for it: if I had a dollar for every time someone told me "We need a second river crossing", I would be a very rich man. The reality is we already have six in the vicinity of the city: the Westgate itself, Footscray Road, Dynon Road, Smithfield Road, Fisher Parade and Maribyrnong/Raleigh Road.

There are two well known political idioms at work here: "Never let the truth get in the way of a good story", and the Tony Abbott special "If you say something often enough, it makes it true". The RACV have done a great job of tricking commuters in believing the second river crossing myth. Given we have six river crossings already, is a seventh one going to make a difference? It won't, hence why the RACV drumming on the notion we only have one.

The other argument Daniel Andrews has mitigated is the cost. That's the real jewel in the crown of the Western Distributor, it's free! The cost of this new piece of infrastructure will be covered by three sources:

<ol>
<li>Tolls on the distributor itself.</li>
	<li>A further concession on the tolls Transurban collects from CityLink.</li>
	<li>Federal Government funding originally set aside for East West Link.</li>
</ol>
None of these factors are problematic given it results in no cost to the state government. Furthermore, Transurban have allegedly agreed to take over the cost of building the original <a href="https://en.wikipedia.org/wiki/West_Gate_Distributor">West Gate Distributor</a> project too. As it has already been budgeted for by the state, this actually results in a $500 million net saving for the government. That's two new mega projects and money back.

All of this good news won't hide the very damning truth: it won't solve congestion on the Westgate!

The <a href="https://en.wikipedia.org/wiki/Induced_demand">widely accepted</a> science of Induced Traffic will ensure the distributor becomes yet another car park within five years, not to mention the extra traffic it will pump into the city at the end of Footscray Road, just like the East West Link would have done to Hoddle Street as predicted by the Linking Melbourne Authority's own modeling. Whether it results in no cost to the state government or not is essentially irrelevant.

It just serves to reinforce the myth that we can solve congestion by building more urban freeways. This just ingrains the car dependence culture, which inevitably results in more funding being pumped into freeways in the future. It is a vicious cycle.

We have all heard the argument we need 'balanced funding for road and rail', this is nothing more than a political mantra. Balance is such a nice word which implies everyone gets what they need, however funding between roads and public transport has been anything but balanced in the last 20 years, it has been heavily skewed towards roads.

Pumping the same amount of money into mega road projects and into public transport does not produce the same outcomes. While the Western Distributor will inevitably reach capacity within five years, we will still be reaping the benefits of the Melbourne Metro rail tunnel in half a century and beyond, albeit at twice the price.

Sadly wrapped up in this debate - but now pushed out of mind - is the issue the original West Gate Distributor was meant to tackle: taking trucks off local roads. It was never meant to ease commuter congestion on the Westgate Bridge, rather it was about taking trucks off roads in the West, such as Yarraville's Francis Street.

It would have made the inner west safer and less polluted for residents, whilst aalso facilitating faster and more efficient trucking routes to the port. This very focused objective would have resulted in a relatively small price tag by today's infrastructure standards: $500 million. While this problem is still being addressed, the argument has been hijacked by cars, and thus its price increased tenfold. An unfortunate outcome all around.

<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/freight_routes.jpg" rel="gallery-all" title="Existing and proposed freight routes for the West Gate Distributor. Image courtesy Maribyrnong Truck Action Group"><img alt="" class="image-article-full-width-580px" height="512" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/freight_routes.jpg?itok=5B5owKZq" title="Existing and proposed freight routes for the West Gate Distributor. Image courtesy Maribyrnong Truck Action Group" width="580"></a>

<figcaption>Existing and proposed freight routes for the West Gate Distributor. Image courtesy Maribyrnong Truck Action Group</figcaption></figure>I fear for the long term planning of this state. The more common prospect of one-term governments has scared them into throwing all long term planning out the window, pushing short-term projects where political expediency is the only driving factor. It's a sad state of affairs when projects are delivered to satisfy public perception, despite knowing they won't go close to solving the problems, and in turn perpetuating long held myths.

It takes a great amount of political courage to make the tough decisions: not building any more urban freeways, tackling traffic head-on via congestion charging, borrowing money to fund major public transport upgrades, and forcing people to change decades long travel habits. But it seems political courage continues to be in short supply, at least where public transport is concerned.

Mr Andrews, you're better than this. You should be applauded for removing level crossings, a project decades overdue. You should be applauded for getting on with the Melbourne Metro, a project which, to quote Robert Doyle's words, will save Melbourne from a "100 year catastrophe".

But the Western Distributor is a case of "two steps forward, three steps back". You have got this far by being a public transport champion; it is those guns you need to stick to, to ensure Victoria's future is the main game here, not the 2018 election.

For further insight on the topic, see the Public Transport Users Association's take on <a href="http://www.ptua.org.au/myths/congestion/">the myth that freeways relieve traffic congestion</a>.

Lead image courtesy Transurban.
</body></html>

TheHeadOnTheDoor

Distributing a myth: will a second river crossing solve congestion?

<html><body>
The Melbourne property developer BPM has bought a Brighton bathing box as a communal facility for residents at its upcoming apartment project, The Standard (pictured below), on nearby Bay Street, Brighton.
The bathing box cost $175,000 with an $80,000 fit-out by interior designers Hecker Guthrie. 
<img src="/images/2015/05/01/brighotn%20april%2030%20bre.jpg" alt="">
It will be for the exclusive use of residents of The Standard which is a 110-apartment project at 209-213 Bay Street designed by architects Elenberg Fraser.
They will have to book a day at the beach box at no cost through the building's owners' corporation.
<img src="/images/2015/05/01/brighotn%20april%2030%20two.jpg" alt="">
The project was unveiled late last year in an Investorist Live pre-launch hosted by a panel including Investorist founder Jon Ellis, BPM marketing director Ashley Bramich and Elenberg-Fraser architect Edward Pearse.
The prices were typically around $9,000 to $10,000 per square metre, priced between $412,500 to $975,000. Construction began recently with an anticipated 16 month build. There are 19 apartments available for purchase.
The bathing box 47 is among the beach boxes that date back in 1862, designed as changing rooms to protect the modesty of bathers.
</body></html>

Nothing standard as bathing box thrown in for Brighton apartment buyers

<html><body>
Changes to government grants are leading to first home buyers increasingly targeting new houses, research from QBE reveals.
The amount of first home buyers intending to buy a newly constructed home rose in February 2015 from June 2014 (from 44% to 50%), while the amount intending to purchase an existing house fell (from 60% to 56%), according to QBE’s Barometer Report 2015.
However, the proportion of first home buyers who ended up purchasing a newly constructed house increased to 28% from 18%, while existing home purchases fell from 56% to 41%.
<img src="/images/2015/04/28/trends-april-28-one.jpg" alt="">
The report posited changes to first home owner grants (FHOG) requirements were likely to be an influential factor. NSW, the NT and Queensland have all reported declines in loans to first home buyers, which QBE claims is linked to the loss of incentives to purchase existing homes in these states.
The report also noted that low interest rates “may have encouraged the idea first home buyers have increased borrowing capacity and can afford a new property”.
<img src="/images/2015/04/28/trends-april-28-two.jpg" alt="">
 
The survey covered 701 people intending to buy in the next five years, including 176 first home buyers, as well as an extra 656 mortgagors, of which 95 were first home buyers.
</body></html>

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