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.

&nbsp;

Joel Robinson

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

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

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>

&nbsp;

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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The trend of lower auction volumes in 2015 continues with 29% fewer homes on offer across capital cities this week. 
The low volumes appear to have contributed to strong rises in the clearance rate last week in both Sydney and Melbourne.
There are 2,497 auctions expected this week across Australia with 2,058 expected in capital cities. This is compared 1,541 last week and 2,905 for the same week last year.
In Sydney 775 auctions are expected compared to 662 last week and 1,101 this week last year. The clearance rate last week was the highest in a year and should encourage a few more vendors to list for sale as there is clearly strong demand from buyers.
In Melbourne 936 auctions are expected compared to 584 last week and 1,401 this week last year. The 10-point rise in the clearance rate last week is a sign of a healthy market and provides an indication that the interest rate cut has been welcomed by buyers.
There are 101 auctions expected in Brisbane compared to 118 last week and 161 this week last year.
This week there are 124 auctions expected in Adelaide compared to 91 last week and 118 on the same week last year.
In Canberra there are 77 auctions expected compared to 49 last week and 65 this week last year.
In Perth 30 auctions are expected compared to 26 last week and 49 this week last year.
Across Australia the highest volume of auctions in one suburb are 20 in Richmond (Vic). Of the 2,497 homes being auctioned 936 are listed as three bedrooms, 666 as four bedrooms and only 162 with five bedrooms.
Melbourne auction preview
There are 936 auctions scheduled this week in Melbourne compared to 1,401 for the same time last year. The highest volume of auctions will be in Richmond with 20 scheduled. There are 17 in Bentleigh East and St Kilda.
The Melbourne auction market is sending mixed messages at the moment, on one hand the clearance rate has risen to be closer to the trend rate for last year, when it was 68.2%. In contrast volumes are low suggesting that potential vendors are lacking the confidence shown last year.
It is also possible that vendors and their real estate agents are choosing private sale instead of auction as a method of sale. It won’t however be possible to ascertain if that is happening for a few months.
In respect of the private sale market in the past week, on a citywide basis, the time on market results for houses sold at private sale was 66 days, slightly up from 65 days in the previous week. Overall vendor discounting was up slightly to -5.2% from -5.1%.
Key data
<ul>
<li>Clearance rate week ending 15 February: 70.9%</li>
<li>Melbourne auctions expected week ending 22 February: 936</li>
<li>Melbourne private sales time on market week ending 15 February: 65 days (houses)</li>
<li>Melbourne vendor discounting market week ending 15 February: -5.2% (houses)</li>
<li>Listings being prepared for market are 3.5% lower in the month ending 15 February (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Volumes continue to be low but clearance rate rises: Weekend auction preview

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A lot of debate happening in the Twittersphere this morning about whether housing supply is relevant to Australia's dwelling prices.
I'm not sure why people try to argue that's it isn't relevant, but anyway, my view is obviously that it is.
Without further ado, moving on to today's release from the Housing Industry Association (HIA), and we can see that due to a lack of supply, Australia's capital city land prices are soaring, with median lot prices in Australia accelerating higher over Q3 2014.
The HIA data showed that median lot values jumped by another 3.3% over Q3 2014 to a record high.
<img src="https://3.bp.blogspot.com/-chTRaaM3txg/VOVWGanXncI/AAAAAAAATNY/62vdu3jsWt4/s1600/HIA.jpg">
Gains all driven by capital cities
It is essential to note, however, that this acceleration in prices is not in any being driven by regional land prices, with median lot values increasing only marginally by 0.7%.
However, capital city land prices roared higher - going almost vertical - jumping by a massive 4.7% over the last quarter to record 10% growth over the past year alone to another all-time high.
Tim Lawless of CoreLogic RP Data noted that the decline in the number transactions does not bode well for dwelling approvals over the medium term, which sounds logical enough.
Accelerating prices are due to slow supply
In the words of the HIA:
"There are clearly pressures building in terms of the available residential land supply. Acute supply bottlenecks are affecting Australia's residential land market.
"The number of transactions fell while price growth accelerated. Turnover decreased by 16.7% in the quarter while at the same time prices grew by 3.3%.
"These are the classic hallmarks of a market which is fast running into supply problems.
"The process of delivering new land supply and infrastructure is too slow and too expensive. Policymakers have to intervene to ensure Australia's long term housing needs are met."
Quite.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

Capital city land prices keep on soaring: Pete Wargent

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There was a record $5 million sale of an amalgamated apartment in the Bondi beach block, Pacific Terraces.
The previous highest price had been $4.75 million for another combined apartment in early 2012.
The Cobcroft family secured the offering which was listed initially in August 2013 with $4.5 million plus hopes.
It was bought by Fiona and Nicklas Cobcroft who hail from the Cobcroft family of Paraweena, at Willow Tree.
<a href="https://www.homehound.com.au/listing/withdrawn/nsw/sydney-region/eastern-suburbs/bondi-beach-eastern-suburbs/4-52-notts-avenue-bondi-beach-nsw-2026/" target="_blank">It has 135 square metre internal space</a> plus 82 square metre terrace and garage.
The strata levy sits at about $5,000 a quarter in the 1980s block which had a Stanic Harding update.
Set at the southern end of the beach, the two side by side apartments underwent on a no expense spared redesign. 
The Lo Surdo family bought the two apartments from Gary Baker's Garbake Pty Ltd in 2010 at $1.45 million and $1.85 million.
Garbake had paid $2.5 million in 2007 and added the adjoining apartment for $2.35 million in 2008.
Kerry Packer had helped finance the 30-unit Pacific Terraces development by Bill Shipton in the early 1980s.
The first $500,000 sale was a one bedder in 1995.
The widely anticipated settlement of the nearby Swiss Grande, Bondi Pacific off the plan apartment sales is scheduled to occur this year.
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jchancellor-FAypfDUnLy

Pacific Terraces, Bondi Beach $5 million record sale

<html><body>
Tony Abbott is on a yellow card and is one major mistake away from being red-carded.
Another display of the bad judgment for which he has become infamous and he’ll be kicked out of the game by his own team.
Un-phased, the Prime Minister is already working on his next own goal.
He’s made it known that he’s going to clamp down on foreign investors. Someone has managed to convince him that somehow this will bring down the price of houses and first home buyers across Australia will rejoice.
He’s getting seriously bad advice from somewhere. He could eliminate every foreign investor from the Australian residential landscape and it wouldn’t reduce a single home price.
Of all the buying sectors in residential property – first time buyers, next time buyers, local investors and foreign investors – overseas buyers are the smallest and least influential. The recent NAB survey confirmed this.
In the established homes market, where first home buyers are most active, overseas buyers are a negligible component.
Foreign investors are active primarily in the new homes market. They buy highrise apartments off the plan in the major inner city markets. This is not a market for first home buyers.
These two sectors – first home buyers and foreign investors – are not competing in the same space.
Abbott’s stance is an outcome of the federal parliamentary inquiry into the “affordability crisis”. This has been a farce from the beginning because it was based on the notion that first home buyer numbers had dropped alarmingly – which is now revealed as a miscount by the Australian Bureau of Statistics.
So the initial premise arose from a mistake and Abbott proposes to compound the error with another, by blaming an innocent party for a non-existent problem.
The inquiry received evidence that foreign investors assist first home buyers because they’re the motivation for the construction of multiple highrise apartment buildings. The increase in supply is deemed likely to bring down prices, thereby assisting first time buyers.
I would suggest that’s a flimsy argument, but that’s what the pointless inquiry was told.
The strangest thing in all this is that the Prime Minister imagines Australians will thank him if he succeeds in reducing the value of homes across the nation. Given that seven out of 10 households own their homes, he’s on a confirmed loser with this one.
But whatever he does with foreign investors won’t affect the pricing levels created by market forces.
Once again, politicians are tinkering at the edges of the affordability issue. A leader serious about making new homes more affordable for first time buyers would address the single biggest issue – the taxation component in the cost of a new home.
New homes are a lot more expensive that established ones (which is a primary reason why first timers target established homes). The research indicates that as much as 40% of the price of a new house and land package is government fees and charges.
Dealing with that is simply not palatable for your average politician. Abbott is doing what politicians always do with the affordability issue – they talk about it a lot, but in essence they do nothing meaningful. A solution is within their power but they refuse to go there.
So the chosen course of action is once again taken from the scripts of Yes Minister. Find an unpopular minority and vilify them in speeches and press conferences, but at the end of the day do nothing that changes the status quo.
It won’t take long for people to realise that waving a stick at foreign investors hasn’t changed anything for first home buyers.
Poor Tony. When he needs to be riding a winner, he’s flogging a dead horse.
Or is it a case of dead man walking.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
If you missed our free webinar with Terry Ryder, 'The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid', you can <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=2e37cb3570&amp;e=035e81ff9a" target="_blank">watch the video or download the slides here</a>. 
 
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terryryder-YECXbqmri2

Dear Tony, waving a stick at foreigners won't help first home buyers: Terry Ryder

<html><body>
The Year of the Horse is drawing to a close. Tomorrow, we move into the Year of the Goat ­– prosperity, apparently, is coming.
Of course, Australia has been receiving the benefits of Chinese foreign investment for years now (or bearing the costs, depending on who you speak to).
With the dollar down (US$0.78 or ¥4.89), commodity prices falling, interest rates at record low, governments flagging rule changes and an unprecedented level of Chinese buyer-fuelled inner city developments underway, what can we expect from foreign buyers in the year to come?
Andrew Taylor, chief executive of international property portal Juwai.com, says the falling dollar has increased interest in Australian real estate from offshore buyers, particularly those considering a Significant Investment Visa (SIV).
The SIV scheme requires successful applicants to invest $5 million in complying investments for a minimum of four years before being eligible to apply for a permanent visa.
"It's very safe to say there's definitely been an increase in interest in Australia and the Significant Investor Visa," says Taylor.
"These guys have a lot of wealth anyhow, so it really means they can invest more. They'll probably keep the same RMB [Renminbi] budget, but invest more."
The falling dollar means that the minimum investment requirement of A$5 million is much lower than it was a year ago.
Eugene Chen, special counsel and head of China practice at Hall and Wilcox, agrees that the exchange rate will impact both individual migrants and Chinese developers.
"It's likely to draw in more foreign investment because of the massive differential from 12 months ago. Property will become more affordable," says Chen.
"If our properties become cheaper, it may result in more Chinese investors wanting to buy off the plan townhouses and apartments, which will in turn drive Chinese developers."
The impacts, Chen says, are likely to stretch beyond this year.
"The cycle is usually quite long. And certainly from a land banking perspective, [the falling dollar] is likely to have some sort of impact."
However, increasing property prices, particularly in areas popular with offshore buyers, may negate any "discount" enjoyed as a result of the falling dollar.
"On the other hand," Chen explains, "I think there's also a high level of saturation in the Melbourne and Sydney property markets, in terms of new developments and permits – and at somewhat overvalued prices."
That "over-saturation" is leading developers and buyers to consider the Brisbane and Gold Coast markets. In Sydney and Melbourne, developers are increasingly interested in suburbs outside the Melbourne and Sydney CBDs, with Chen noting a focus on "high quality suburban areas" like Box Hill, Glen Waverley and Caufield.
While the chief exchange rate may increase the attractiveness of Australian real estate, the emergence of new developments and the rising cost of property in the Melbourne and Sydney markets may also impact demand over the coming year.
Those rising home prices – 13.0% in Sydney and 7.0% in Melbourne in 2014 after a year of double digit growth in both cities, according to CoreLogic RP Data – have often been blamed on the influx of Chinese buyers. For some, it may have felt like the Year of the Scapegoat came early (and stretched extra long), with foreign buyers deemed responsible for pricing first home buyers (of non-Chinese origin, presumably) out of the market.
It certainly seems to be a theory Prime Minister Tony Abbott believes, saying earlier this month that<a href="/expert-insights/buying/tony-abbott-suggests-foreigners-pricing-out-young-home-buyers"> he wanted to enforce Foreign Investment Review Board</a> (FIRB) rules "because, obviously, the last thing we want to be doing is pricing young home buyers out of the market".
Following a parliamentary enquiry last year, which found that certain FIRB rules were rarely enforced, Abbott announced that the government would set up a foreign ownership register for agricultural land, while the threshold for screening agricultural purchases would be dropped from $252 million to $15 million.
The House of Representatives Standing Committee on Economics also recommended a $1,500 application fee for foreign buyers, ostensibly to fund the FIRB.
The fee, Taylor and Chen agree, isn't likely to have a big impact on Chinese buyers.
"It's highly unlikely to impact foreign investment. In the grand scheme of things, $1,500 isn't going to be significant," says Chen.
Taylor says the fees are "one function of what the government is trying to do, which is identify foreign investments".
"How do we track them, how do we identify them, and how do we make them comply with the rules?"
However, he suspects the move is more a political show than any real effort to make a change.
One reform that may have a real impact on foreign investment are potential changes to the SIV scheme, says Chen. The proposed changes, which <a href="https://www.theaustralian.com.au/national-affairs/immigration/rich-migrants-told-to-put-funds-to-work/story-fn9hm1gu-1227216555811" target="_blank">The Australian reports</a> have been drafted "at the insistence" of Trade and Investment Minister Andrew Robb, would require SIV migrants to invest at least 50% of their $5 million funds into venture capital and small-cap investments.
"The SIV program has so far seen $2.5 billion of in-bound investment, and much of that is into real estate development," explains Chen.
"And it's a strong wealth of funding, not only for Chinese developers, but prominent Australian developers.
"The proposal is that they'll be turning the tap off on 1 July. And we think that will have a significant impact on the economy."
If the proposed changes to the SIV are brought about, Chen believes that the current flow of foreign investment into Australia will not be maintained, and development projects in the pipeline will be impacted.
"On the other hand, we have an even bigger problem with the demand of funds.
"Our Australian developer clients and our Chinese developer clients have projected their future developer funding on the basis of gaining that cash. It will be a double whammy to our industry."
All this speculation, says Taylor, displays a lack of clarity in vision from the Australian government.
"Australia needs to be part of Asia. We use the phrase 'Australasia' – those economies are looking to invest into Australia.
"If I was a government I'd be looking at how to use that growth."
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jrichardson-uRX5hFdKfN

What property investors should expect in the Year of the Goat

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The rubbish-strewn property owned by Sydney’s worst hoarders, the Bobolas family, has been withdraw from tonight's auction.
The Bobolas family had come forward to settle the existing judgments of around $180,000 with the Sheriff's Office on the day leading up to tonight's scheduled auction.
The property at 19 Boonara Avenue, Bondi is prime real estate in the tightly-held beachside suburb, so much so that 64 contracts had been issued during its marketing without a single inspection.
It was expected to sell for $1.8 million plus given the 550 square land size at its proposed Raine &amp; Horne auction. The house was bought in 1973 for $15,000.
The funds had to be received and cleared to stop the auction going ahead. The property had no registered mortgage on its title. Property Observer noted four writs on the title.
It was the first sheriff's auction undertaken by the Raine &amp; Horne veteran Ric Serrao in his 24 years selling Bondi property.
<pre> AT BONDI
 LOCAL GOVERNMENT AREA WAVERLEY
 PARISH OF ALEXANDRIA COUNTY OF CUMBERLAND
 TITLE DIAGRAM <a href="">DP9503</a>

 FIRST SCHEDULE
 --------------
 

 SECOND SCHEDULE (5 NOTIFICATIONS)
 ---------------
 1 RESERVATIONS AND CONDITIONS IN THE CROWN GRANT(S)
 * 2 <a href="">AI745374</a> WRIT BY WAVERLEY COUNCIL. WRIT. NO 2012/00226206.
 ISSUED 2/9/2014. LOCAL COURT
 * 3 <a href="">AI745377</a> WRIT BY WAVERLEY COUNCIL. WRIT NO.2009/00347285.
 ISSUED 2/9/2014. LOCAL COURT.
 * 4 <a href="">AI745378</a> WRIT BY WAVERLEY COUNCIL. WRIT NO. 2006/00301254.
 ISSUED 2/9/2014. LOCAL COURT
 * 5 <a href="">AI745379</a> WRIT BY WAVERLEY COUNCIL. WRIT NO. 2009/00349854.
 ISSUED 2/9/2014. LOCAL COURT.
</pre>
Positioned in one of the suburbs most desirable streets, the freestanding dilapidated house offered plenty of scope to build your dream home subject to council approval.
The land which could become a duplex strata project is a short walk to public transport, local cafes, restaurants &amp; shops.
The property has been the sad centre of controversy for decades with more than $350,000 of Waverley ratepayers money spent trying to control the tonnes of rubbish.
Waverley Council has attempted to address the major public health and safety problems associated with the continual hoarding at the Bondi property over the last 25 years, a council spokesman said on its listing.
“The Land and Environment Court has ordered the owners of the property to pay the costs on each occasion, however, the council has never received payment,” the listing read.
Council have said the situation is a public health and safety issue for the family, and for the nearby residents.
As a result of the civil court judgment, the Sheriff's Office engaged Raine &amp; Horne to conduct the marketing and auction of the property. The auction of the property had been expected to occur on 17 February at 7.30pm at private rooms. The Sheriff sets a reserve price for any such property. The proceeds from the sale are then used to pay outstanding debts that are owed as well as Sheriff and real estate agent costs.
If there are any remaining funds after debts have been paid, then the debtor will receive the rest. Potential buyers were advised that unless the rubbish is removed prior to the sale, then the property will be sold as is. The Sheriff's Office does approximately 20 land sales a year in Sydney. Sheriffs do not initiate land sales, they are simply agents who execute the auction on the order of the courts. Land sales only occur if the debt is higher than $10,000 and there are no other assets. Once a notice of land sale is issued, the debtor can clear the debt of their own accord right up to the day of sale. As often properties are sold with occupants and/or tenants still living in them, buyers purchase the properties knowing they have to apply for a writ of possession at the Supreme Court.
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Sheriff cancels Bobolas hoarders home auction offering at Bondi

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The upcoming Commonwealth Games is set to boost the Gold Coast property market, according to real estate franchise PRDnationwide.
New infrastructure projects worth $950 million are expected to cope with the 2018 Commonwealth Games, including the Athlete's Village in Southport and sporting centres in Carrara, Coomera and Broadbeach.
The recent price growth for houses in the local market, with 11.0% median price growth in Southport and 10.2% in Ashmore, along with the new infrastructure and stock on the market that will be introduced around the Commonwealth Games, has given PRDnationwide reason to expect strong growth in the region.
PRDnationwide national research manager Diaswati Mardiasmo says both the 2000 Sydney Games and the 2006 Melbourne Commonwealth Games provided boosts for local property markets.
"By looking at case studies of similar sporting event-related development in the greater Sydney and Melbourne regions surrounding past games, respectively, we were able to forecast how the Gold Coast property market will be impacted not only prior to and during the year of the Games, but also in the years following the Games," said Mardiasmo.
According to PRDnationwide, the total cost of the Sydney Olympic Games has been estimated at $6.6 billion, with some of that money allocated to the Athletes Village. After the games, the site was transformed into 900 townhouses and 700 apartments, which were offered to first home buyers. PRDnationwide notes the development's popularity with first home buyers, which it credits with a surge of development and sales activity area, citing 58% growth in sales in Newington and surrounding suburbs from 2000 to 2001.
Click charts to open in new windows:
<a href="/images/2015/02/16/parkville-feb-17-two.jpg" target="_blank"><img src="/images/2015/02/16/parkville-feb-17-two.jpg" alt=""></a>
Unlike developments around the Sydney Olympic Games, where developments primarily took place in a concentrated area, new sporting infrastructure will be spread throughout the Gold Coast. Melbourne's Commonwealth Games saw a similar pattern of development.
There, the Athletes Village was built in the inner-northern suburb of Parkville, where sales increased by 33% between 2006 and 2007.
<a href="/images/2015/02/16/parkville-feb-17-one.jpg" target="_blank"><img src="/images/2015/02/16/parkville-feb-17-one.jpg" alt=""></a>
PRDNationwide expects that the increased development around the Gold Coast will not lead to oversupply but will accommodate the population growth projected for the area.
<a href="/images/2015/02/16/parkville-feb-17-three.jpg" target="_blank"><img src="/images/2015/02/16/parkville-feb-17-three.jpg" alt=""></a>
Source: PRDnationwide
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Gold Coast to get a boost from the Commonwealth Games: PRDnationwide

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When the apartment Charlotte and Josh made over on this season of The Block was passed in at auction this weekend, many wondered if it was another case of The Block curse.
It seems, however, that it was merely a case of market forces at play.
The apartment, passed in at $390,000, <a href="/expert-insights/buying/curse-of-the-block-how-the-other-caroline-street-apartments-have-performed">was sold after auction for $445,000</a>, some $92,222 higher than the average apartment price Frank Valentic's syndicate of investors paid when they purchased the 18-apartment block.
Jarrod McCabe, buyers agent associate director of Wakelin Property Advisory, says the location of the one bedroom apartment "ticks many but not all the boxes".
"South Yarra is a wonderful suburb," says McCabe.
"Caroline Street is great as well in places, given its proximity The Domain and so on. However, the property is directly opposite a major school (Melbourne's Girls' Grammar) and there is likely to be a significant traffic issues at peak times."
McCabe explains that Wakelin Property Advisory chooses properties according to their location first, then the property type and its presentation.
The apartment's position within the block itself could also impact its potential for capital growth.
"The property itself sits within a catwalk, three storey block, in a top corner.
"Often, catwalk properties aren't a great investment as there can be a lot of pedestrian traffic past occupants' windows which can be a privacy and security issue, deterring buyers. However, in this instance, the property is at the top of the building and is not a through route to other apartments," says McCabe. The apartment block has been recently renovated, with new paint, and offers dedicated off-street parking, an inclusion McCabe says "is a mandatory requirement in our opinion for apartment investments".
McCabe also notes that Charlotte and Josh's renovation of the 47 square metre, one bedroom apartment meets a "reasonably high standard", and is "contemporary without being too avant garde". However, the apartment has not been fully renovated, with the front door and laundry both "needing attention".
While McCabe thinks the 85 Caroline Street block is one of the better investments that has appeared on The Block in Melbourne, it doesn't quite meet the investment advisory group's standard, with Wakelin seeking the "best 5% of properties in the market from the investment perspective".
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Charlotte and Josh's apartment on The Block "doesn't tick all the boxes"

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GUEST OBSERVATION
Ipswich has one of the fastest growing populations in Australia over the last decade.
When a few marketing jazz words are combined with a low entry price and above-average rental yields, it’s never been difficult for the so-called property guru to attract property investors to Ipswich. But does the region really stack up?
With its vast amounts of developable, cheap land available, Ipswich plays a key role in the <a href="https://www.propertyology.com.au/keep-granny-ditch-the-flat/" target="_blank">state government’s strategy</a> to try and direct population growth away from the coast.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="176">
Population Growth
</td>
<td valign="top" width="158">
2003-2013
</td>
<td valign="top" width="201">
2008-2013
</td>
</tr>
<tr>
<td valign="top" width="176">
 
</td>
<td valign="top" width="158">
(10yrs)
</td>
<td valign="top" width="201">
(Post-GFC)
</td>
</tr>
<tr>
<td valign="top" width="176">
Australia
</td>
<td valign="top" width="158">
1.7%
</td>
<td valign="top" width="201">
1.8%
</td>
</tr>
<tr>
<td valign="top" width="176">
Queensland
</td>
<td valign="top" width="158">
2.4%
</td>
<td valign="top" width="201">
2.1%
</td>
</tr>
<tr>
<td valign="top" width="176">
Ipswich
</td>
<td valign="top" width="158">
4.2%
</td>
<td valign="top" width="201">
3.7%
</td>
</tr>
</tbody></table>
The impact of a relatively large volume of sales of new properties in a developing region creates a distortion between the data for changes in median property values and the real change in property values.
As the graphic below illustrates, dwelling supply and population growth have kept pace with each other. In spite of the regular hotspot rhetoric that Ipswich cops from time to time, its property market performance has in fact been quite underwhelming.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/01/27/Ipswich_SupplyDemand_2006-2014.jpg" alt="">
With a traditional blue-collar demographic, successive state governments and the Ipswich City Council have had to work hard to create sufficient jobs for its growing population.
The award-winning Springfield masterplanned community has been developed over the last decade as a satellite city - Brisbane’s version of Parramatta.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/01/27/Ipswich_GreenfieldMap.jpg" alt="">
Already with a new hospital, business park, and railway line, Springfield currently has several good projects in the pipeline. These include a $50 million expansion of the University of Southern Queensland, $70 million headquarters for GE, $80 million Mater hospital, $100 million Brookwater resort and plans to further extend the Orion shopping centre.
The existing Amberley RAAF base has also been spoken about as an anchor tenant for a potential aeronautical precinct.
Investors could do worse than Ipswich, although it is far from our first preference. With so much land flagged for development, expect to see significant new supply, mostly concentrated around Springfield, Ripley, and Redbank Plains.
There is currently in the vicinity of $275 million in house and land packages currently under construction. The Springfield Land Corporation has also just announced a proposal to develop 10,000 new apartments.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and Australia’s (REIA) Buyer’s Agent of the Year (2012+2013+2014).
Picture courtesy of Clarebear/ <a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
 
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spressley-sBoeMhannA

How the Ipswich region stacks up: Simon Pressley

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 A four bedroom, three bathroom Mosman house was the most expensive home to sell last week, according to CoreLogic RP Data.
The dual-pavillion home at <a href="https://www.realestate.com.au/property-house-nsw-mosman-118329207" target="_blank">1 Lavoni Street</a> (pictured above) was sold for $4,375,000 through Simeon Manners Property Mosman.
Each of the pavillions connect via enclosed glass walkways overlooking courtyards. The house has timber floors, with custom made cabinetry and a gas fireplace. The master bedroom includes a built in robe, an en suite and a Juliette balcony.
The vendors had attempted to sell the home twice before securing $4,375,000 last week, including a 548 day campaign that stretched from November 2011 to May 2013. They paid $3.8 million for the house in April 2005.
Nine of the top 10 sales of the week came from Sydney, with a <a href="/expert-insights/buying/moonee-ponds-tops-melbournes-valentines-day-auctions">$2.44 million Moonee Ponds house</a> sold at auction the exception.
CoreLogic RP Data's 10 most expensive sales for the week ending 15 February:
<ol>
<li>
1 Lavoni Street, Mosman, NSW 4 bed, 3 bath, 2 car house $4,375,000 Sold through Simeon Manners Property Mosman 
</li>
<li>
17 Cairo Street, South Coogee, NSW 3 bed, 2 bath, 1 car house $3,650,000 Sold through NG Farah Real Estate Kingsford 
</li>
<li>
7A Duke Place, Balmain East, NSW 4 bed, 3 bath, 2 car house $3,400,000 Sold through McGrath Estate Agents 
</li>
<li>
3/46 Cliffbrook Parade, Clovelly, NSW 3 bed, 2 bath, 2 car unit $3,305,000 Sold through Raine &amp; Horne Double Bay 
</li>
<li>
20 Rockwall Crescent,Potts Point, NSW 5 bed, 3 bath, 2 car house $3,250,000 Sold through Richardson &amp; Wrench Elizabeth Bay/Potts Point 
</li>
<li>
9 Hillside Crescent, Epping, NSW 5 bed, 4 bath, 2 car house $2,530,000 Sold through Belle Property Beecroft 
</li>
<li>
26 Ardmillan Road, Moonee Ponds, Vic 5 bed, 3 bath, 2 car house $2,440,000 Sold through Nelson Alexander Essendon 
</li>
<li>
12 Day Avenue, Kensington, NSW 5 bed, 3 bath, 2 car house $2,350,000 Sold through Ray White Kingsford 
</li>
<li>
29 Darnley Street, Gordon, NSW 5 bed, 4 bath, 2 car house $2,312,000 Sold through Ray White Turramurra 
</li>
<li>
13 Mooney Street, Lane Cove North, NSW 4 bed, 3 bath, 1 car house $2,220,000 Sold through L J Hooker Lane Cove</li>
</ol>
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