Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

Joel Robinson

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

Perth development giant Finbar Group has completed its acquisition of the prominent 236 Railway Parade site in West Leederville, a year after first flagging plans for the transit-oriented development that will become its next major apartment project in Perth's inner west.

The ASX-listed apartment developer has secured the 4,997 sqm mixed use-zoned landholding opposite West Leederville Train Station for around $15 million, paving the way for the proposed Rosslyn Quarter development. The project is expected to deliver <a href="https://www.apartments.com.au/new-apartments/236-railway-parade-west-leederville-wa-6007">around 240 apartments across two towers</a>, alongside ground-floor commercial space.

The acquisition effectively concludes a process that began in mid-2025 when Finbar announced it had entered into a contract to purchase the site, subject to development approval and the finalisation of planning settings under the West Leederville Precinct Structure Plan. At that time, the company outlined plans for a pair of 18-storey towers with an estimated end value of around $200 million.

The site sits within the emerging Rosslyn Quarter precinct, approximately two kilometres from the Perth CBD and directly opposite the West Leederville Train Station. The location also places future residents within walking distance of the West Leederville Shopping Centre, Leederville's hospitality strip, and the neighbouring Subiaco activity centre.

Finbar CEO Ronald Chan said the acquisition builds on the developer's previous experience in the suburb, where it delivered the Motive Apartments project in 2017.

"We have previously enjoyed great success in developing in the West Leederville area given its excellent existing amenity and close proximity to the CBD, Leederville, Subiaco, and the West Leederville train station," Chan said.

He said the scale of the site would allow Finbar to deliver a well-located apartment project while strengthening its long-term development pipeline.

"The substantial scale of this site, with proposed potential for two eighteen-storey towers, will allow the Company to obtain scale benefits which will underpin the delivery of a medium-cost, well-located project," Chan said. "Importantly, this acquisition diversifies and strengthens our long-term development pipeline across metropolitan Perth, enabling us to time our product delivery strategically in line with market conditions."

According to Sterling Property, which brokered the transaction, the site was one of the most significant development opportunities to come to market in Perth's western suburbs in recent years.

Sterling Property Managing Director Brian Neo said opportunities of this scale in established inner-city locations remain tightly held.

"Sites of this scale and calibre, directly opposite a train station and within two kilometres of the CBD, are rarely offered to the market. When they are, they attract serious capital," Neo said.

The acquisition comes as Perth's apartment market continues to contend with limited development-ready sites in established suburbs, particularly those benefiting from both existing transport infrastructure and supportive planning frameworks.

With the West Leederville Precinct Structure Plan now adopted, Finbar can move forward with design development and the development approval process for what is expected to become one of the largest new apartment projects proposed in the suburb.

Finbar completes West Leederville site acquisition for Rosslyn Quarter project

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

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>

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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 three bedroom Sydney apartment was sold prior to auction on Thursday night for $5 million.
The price bested all of Sydney's weekend auctions results, according to Australian Property Monitors.
The north-east corner apartment on the 16th floor of the Residence secured $5 million for the vendors. It offers panoramic views over the CBD, Hyde Park and the harbour.
Each of the three bedrooms in the 204 square metre apartment includes walk in robes, while two have attached marble en suites. The living area features a gas fireplace and limestone underfloor heating.
There is also a private sheltered BBQ terrace.
The apartment was auctioned by Simon Polito of Laing Real Estate, who is somewhat of a Residence specialist, having marketed apartments in the building since the off the plan stage, five years ago.
It was purchased by an Australian resident, who can expect to pay $5,236 per quarter in levies. The Residence offers a gym, indoor pool, common lounge and temperature controlled wine room.
The $5 million apartment isn't the most expensive in the complex, which has recently seen $5.7 million sales.
The vendor of apartment 71 purchased it for $4.8 million in November 2012.
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jrichardson-uRX5hFdKfN

Darlinghurst apartment sells prior to auction for $5 million

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A Potts Point one-bedroom bolt hole fetched $684,000 at weekend auction.
The <a href="https://www.mcgrath.com.au/buy/apartment-potts-point-nsw-2011/232659/?searchID=43770266" target="_blank" style="line-height: 1.3em;">one-bedder in the Gemini building</a> last traded in 2007 at $405,000 when bought by the property developer Peter Gaunt and his partner, vet Dr Kevin Foster.
39/40 Victoria Street sold through McGrath agents Richard Bonouvrie and Laura Bitar who were quoting upwards of $550,000. It is a one bedroom, one bathroom third floor unit without car space.
The price represented $18,000 a square metre for the 38 square metre apartment with city views. It is among the late 1960s modernism style apartment blocks designed by Harry Seidler. The twin seven-storey Gemini apartment complex comes with rooftop pool.
It was up for rent recently with its asking rent falling from $650 a week to $580 a week over the month it was advertised.
Its sale at the last asking rent would reflect 4.4% yield. The building's highest prior sale was $560,000 last November which was put up for rent at $590 a week which eased to $570 a week earlier this year.
<img src="/images/2014/10/24/potts-point-oct-24-floor.jpg" alt="">
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jchancellor-FAypfDUnLy

The 38 square metre Potts Point, Sydney unit that fetched $684,000

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At times it is possible to become so engrossed in analysing weekly data series concerning the Australian economy and housing markets that we neglect to recap on the bigger trends unfolding over the years ahead. Here are four of them...
Trend #1 – Rebalancing: The “Great Rotation” is well underway
The Reserve Bank’s best laid plans to rebalance the Australian economy away from mining construction and towards a residential construction boom have been vigorously denigrated at almost every step along the way.
Variously it has been argued that credit growth was too low, land prices too high and that a sharp property market correction was assured.
And yet while the transition has by no means been perfectly engineered, dwelling prices have recovered fairly robustly in most cities, supply has begun to follow accordingly, and 2015 is shaping up to be a prodigious year for dwelling construction.
Building activity has already scaled levels not seen for two decades, while dwelling approvals are all but brushing around 200,000 on a rolling annual basis, reflecting a substantial volume of supply in the pipeline as the market responds.
<img src="https://4.bp.blogspot.com/-60LCdZCJOcw/VEw-6PyMnkI/AAAAAAAAQsA/02Dl2UDlzm4/s1600/1a%2B-%2BBUILDING%2BAPPROVALS.jpg">
From an economic perspective this is a welcome result, especially since previous research has proven residential construction to unfurl a strong <a href="https://petewargent.blogspot.co.uk/2014/07/construction-multiplier" target="_blank">multiplier</a> effect.
Of course, there are always weak links in the economic data.
Major renovation activity is moribund, which has continued to shave irritating fractions from housing investment’s quarterly contribution to GDP growth.
The dearth of renovation activity is no doubt partly a result of the structural shift towards apartment dwelling, and to some degree it reflects the expensive nature of detached housing stock in the capital cities.
There is also a generational factor at play, with younger family buyers having used first home owner grants to buy new properties or in some cases being priced out of the detached housing sector entirely. In the UK Homebase announced this week that it would close a quarter of its 323 stores as Brits also fall out of love with renovating and DIY.
Paradoxically, while Australian television viewers are bombarded by an artillery of cookery and renovation shows, official ABS data continues to show retail turnover for takeaway and café meals booming to unprecedented levels and renovation activity in most states dying a slow death.
We seem to enjoy watching others rustle up fancy meals and renovating houses; actually doing the stuff ourselves, not so much. If capital growth in earlier property market cycles was once in part illusory, driven by improvements to the existing stock of dwellings, this is not so much the case today.
<img src="https://1.bp.blogspot.com/-XCUvcgKBfwk/VEw_EIF4pAI/AAAAAAAAQsI/E7VHQKpr8_U/s1600/1b%2B-%2BALTS%2BAND%2BADDS.jpg">
Overall, though, the picture is strong for residential construction activity – for units and apartments in particular - and the aggregate new capex volumes in 2015 will not represent anything like the disaster that had been feared as the resources-driven engineering construction boom unwinds.
<img src="https://1.bp.blogspot.com/-1fR66lz8QHs/VE1pu1BbFWI/AAAAAAAAQuw/BqkILtQ3r-0/s1600/1c%2BRESI%2BCONSTRUCTION%2BWORK%2BDONE.jpg">
The above having been said, dwelling investment alone can only bridge so much of the gap.
As has been well documented previously, residential construction activity represents only a relatively small percentage of GDP and itself cannot offset the forthcoming plunge in mining capital investment.
More heavy lifting will be required from other sectors of the economy, and the net result of this is that the official cash rate will be lower for longer, with perhaps up to 18 months or more of uncommonly low interest rates ahead.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Trend #2 – Real rental growth is dead
It is often said that a “quest for yield” is dramatically altering investment decisions, wrenching savers out of cash into the risk asset classes in a search for acceptable returns above the rate of inflation.
While this may be true of the equity markets, net yields in residential property are in fact low and heading lower, and the incentives to invest in residential real estate are largely centred upon expectations of reliable future price growth as an inflation hedge.
One of the most notable trends playing out through this cycle is that levels of investor activity are set to break through unparalleled levels, with the Reserve Bank’s own financial aggregates data showing that the gradient of credit growth relating to investment housing continues to rise more steeply than that associated with owner occupiers. 
The inescapable conclusion of this is that property buyers seeking capital growth must anticipate the locations investor funds will flow to, which research has shown are very heavily concentrated in the inner and middle ring suburbs of the large capital cities.
As each month passes further evidence also gradually comes to light that the official data may be materially understating the role of foreign investment in the capital cities, particularly from Asia, and the real level of investor activity could be significantly higher still if offshore funds were to be captured effectively.
<img src="https://1.bp.blogspot.com/-lQmOezz6SEg/VEw_YFqc4KI/AAAAAAAAQsY/gf1XucXGJq4/s1600/2A%2B-%2BOO%2BVS%2BINVESTORS.jpg">
While these trends are doubtless pushing inner city dwelling prices higher, the corollary is that with greater volumes of supply coming online - a high proportion of which is investor owned – real rental growth is declining.
While the rate of rental inflation has held up reasonably well in supply-constrained Greater Sydney to date, where the population is also booming, the risks for most cities are to the downside (and in some smaller cities such as Canberra, nominal rents have already turned alarmingly negative).
<img src="https://1.bp.blogspot.com/-fqMtUdBim-U/VEw_jz_NXTI/AAAAAAAAQsg/t4AeS0Aw99M/s1600/2b%2BRENTAL%2BGROWTH.jpg">
Article continues on the next page. Please click below.
<div>
<hr class="system-pagebreak">
Trend #3 – At long last…it’s time for Brisbane to shine
</div>
Sydney has become the Antipodean equivalent of London and the residential property market just keeps on keeping on.
An imperiously strong FY14 will be followed by more of the same in FY15, with SQM Research forecasting a further 8 to 12% growth for the harbour city.
The supply versus demand imbalance in Sydney has been well known about by those close to the market for half a decade, and dwelling price growth continues to respond accordingly.
Variously Australian cities face considerable challenges. Adelaide’s labour market and economy are lacklustre, Melbourne has a surfeit of supply and of sellers, while Perth is juggling an awkward transition from mining construction to production in concert with a decline in Australia's terms of trade. Queensland aside, full-time employment in regional Australia has stalled completely and is actually lower now in the major states than it was way back in 2006, <a href="https://petewargent.blogspot.co.uk/2014/10/city-versus-country-widening-jobs-gulf" target="_blank">as I analysed here</a>.
We have taken great care to analyse the Brisbane data for false dawns and have refrained from calling prematurely for a marked uplift in prices, but the data suggests that at long last it is time for the maroon of Queensland to have some time in the sun.
<img src="https://3.bp.blogspot.com/-4G2nnN-OvNI/VEw_uGbTnqI/AAAAAAAAQso/5LGtQAgrOIo/s1600/3A%2BOO%2BBY%2BSTATE.jpg">
The recovery in Brisbane housing finance to date has been studious rather than explosive, but upon closer inspection of the figures we see that while most states have recorded seasonally weak mortgage finance data since June, Queensland is going from strength to strength, with owner occupier commitments increasing by another 15% over the past year.
It has been a significant bounce back for Queensland owner occupier finance activity and dwelling transaction levels since 2011, and more timely data from mortgage aggregators suggests that there has been further strength through to October 2014.
<img src="https://2.bp.blogspot.com/-CJyzCOsCqkk/VEw_2m4cllI/AAAAAAAAQsw/hhuyueuz8dI/s1600/3b%2BQLD%2BOO%2BBY%2BMONTH.jpg">
We called the Sydney property investor boom long ago and took action accordingly - you would have to be living under a rock not have heard about it by now.
However the ABS Lending Finance activity data that investors have not yet fully come to the party in Brisbane - at least, not domestically.
Enquiries and mortgage broker data have indicated that a steady rotation towards Queensland is taking place, with interstate investors enticed by stronger yields and considerably more attractive entry prices.
<img src="https://2.bp.blogspot.com/-te6rwa5azak/VExAAz-J3pI/AAAAAAAAQs4/Bms_8hmDnJA/s1600/3c%2BBRISBANE%2BINVESTORS.jpg">
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Trend #4 – Asset selection will be critical in this cycle
For all the above, buyers in Brisbane need to undertake more educated investment decisions than in cycles past, and asset selection will be critical to a successful outcome.
The coming upturn in Brisbane is not resultant from a chronic undersupply such as was the case in Sydney, with more attached housing stock (units and apartments) approved in Brisbane on a rolling annual basis than we have previously seen.
<img src="https://1.bp.blogspot.com/-wYAUJvwvyUc/VExAJMWDI8I/AAAAAAAAQtA/lvFGjWGjjWo/s1600/4a%2B-%2BCAP%2BCITY%2BUNIT%2BAPPROVALS.jpg">
The clear implication of this is buying generic, off the plan city apartment stock is an almost guaranteed route to a sub-optimal investment outcome, and the return on investment from such a strategy could easily be negative.
Not only do investors need to steer clear of the standout pockets of looming apartment oversupply and elevated vacancy rates, they must look to source stock which will retain a level of scarcity value through the cycle.  For units this can mean boutique blocks, river views or district views which will not be subsequently built out.
The apartment construction boom will be effectively absorbed by population growth in due course and over time, yet Brisbane will not any time soon see a repeat of the dramatic boom in interstate migration which played out in previous cycles.
<img src="https://1.bp.blogspot.com/-a1jq7bbVZ60/VE1qksOPb7I/AAAAAAAAQu4/U_5W0mUT9Do/s1600/4B%2BPOPULATION%2BGROWTH.jpg">
Population growth in Queensland remains very strong, but in common with other mining states, the pace of growth is presently declining.
<img src="https://2.bp.blogspot.com/-AXYPUB5A7pg/VE1quBf3vBI/AAAAAAAAQvA/-Er6P_hW4Ec/s1600/4C%2B-%2BQUEENSLAND%2BPOPULATION%2BGROWTH.jpg"> 
As the mining construction boom begins to unwind net interstate migration to Queensland has slowed, and it will be natural increase combined with net overseas migration which drives Brisbane forward in the immediate future.
Informed investors will take note of the property types favoured by immigrants, leaning towards favoured modern types of investment housing (ideally, as noted, with water or district views which will not be built out).
Headwinds and challenges persist in the local economy in Brisbane, as indeed is the case in most Australian capital cities.
Previously encouraging labour force growth appears to have hit something of a plateau lately, and while strong construction employment is a welcome start, Australia needs to stimulate a broad-based recovery in the services sector and encourage household consumption.
<img src="https://3.bp.blogspot.com/-2XfKBMaPJrE/VExBUEXP0KI/AAAAAAAAQtc/HOwPOqfsEbs/s1600/4D%2BCUM%2BJOBS%2BGROWTH.jpg">
Price growth for Brisbane and Sydney ahead
Dwelling price growth in Brisbane has been weak for more than half a decade with prices having declined from peak to trough by close to a fifth in real terms, which, with interest rates at exceptionally low level might give an indication as to the potential quantum of a successful rebound. After a prolonged hiatus, sentiment has turned a corner and improved prospects lie ahead.
BIS Shrapnel forecasts capital growth in Brisbane of 17% over the next three years, while SQM Research’s forecast of 8 to 12% capital growth in Sydney will continue to attract investors in the harbour city.
Over the longer term Residex forecasts capital growth tracking at 5 to 6% per annum in Sydney and Brisbane.
We will be buying investment outstanding properties for clients in both cities in 2015.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<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>' .
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pwargent-M4siyDbqQY

Four major housing market trends for this decade

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The Sydney home auction market has eased under the weight of over 700 properties going under the hammer this weekend.
There was a preliminary 78.9% weekend clearance rate, according to Australian Property Monitors.
The prior weekend's revised clearance rate dipped to 77%.
The underlying trend has weakened over the past month although remaining strong.
It was definitely still a sellers’ market, according to APM's senior economist Dr Andrew Wilson in the lead up to the super Saturday.
After Saturday's result Dr Wilson the weekend recorded the lowest clearance rate for three months. 
"The 78.9 percent result - although still strong, was nonetheless the second time in three weekends the clearance rate has fallen below the boom-time benchmark of 80 percent. 
"The underlying trend of the past month however continues to weaken with the four-weekend average clearance rate now standing at 80.6 percent compared to 82.9 percent over the previous four-weekend period.
"Record high auction listings may be a factor however in recently falling clearance rates as supply catches up with buyer demand.
"Sellers are clearly energised by high clearance rates, low interest rates, Australia’s best performing local economy and unsurprisingly still strong prices growth," Dr Wilson said.
This weekend the Sydney home auction market had 750 homes scheduled to go under the hammer. About 150 results remain to be tallied.
It was higher than last weekend’s 704 and up on the 691 auctioned over the same weekend last year.
Sales totalling $456 million were secured by agents. Saturday's 750 offerings was the highest total recorded since May and Property Observer gleans October will break the record for auction listings in Sydney for that month following record monthly performances over September and August.
The inner west hosted the most number of auctions this weekend with 134 followed by the city and east with 111.
The most popular suburbs for auctions were Paddington and St Ives on the upper north shore each with 11 auctions listed.
Of the six Paddington results, there were just the three sales.
Four of the six St Ives results were sales. 
Sydney’s inner west regained its usual mantle as the leading region following last weekend’s unusually low result with a strong 85.4% clearance rate – and from the highest volume of activity with 88 sales from 103 reported results. The south followed with 84.5 percent with next the lower north at 81.8 percent, the north west and the northern beaches each with 81.3 percent, the west 77.8 percent and the south west 76.2 percent.
<div>
Despite the APM data and interpretation, RP Data reported a contrasting conclusion. RP Data had the preliminary Sydney clearance rate of 78.1 per cent compared to 72 per cent last week and 79.7 per cent last year. 
</div>
<div> </div>
<div>
"After two lacklustre weeks the Sydney market has returned to trend," Robert Larocca from RP Data suggested.
</div>
<div> </div>
<div>
<div>"This was a strong week for auctions nationally and results suggest that the remaining eight weeks should provide good outcomes for sellers and plenty of choice for buyers," he said.</div>
</div>
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Sydney October auction strength easing says APM, but RP Data proffers otherwise

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Melbourne’s mega Super Saturday passed with a clearance rate of 73%, on the busiest of auction weekends sandwiched between the AFL Grand Final and Derby Day races.
This weekend's success rate compared to 72% last weekend and 73% on the same weekend last year.
There were 1471 auctions reported to the REIV today, with 1075 selling and 396 being passed in, 188 of those on a vendor bid.
The Saturday sales total came in at $933 million. Houses scored better than apartments with 75% to 69%.
The REIV had been expecting about 1,750 auctions across 307 suburbs today and tomorrow, so almost 300 results are yet to be included. There are some 60 auctions scheduled across Victoria on Sunday.
The top auction locations were Richmond (27 auctions), Hawthorn (26 auctions) and Glen Iris (25 auctions).
The REIV reported just the eight Richmond results with five sales topped by a <a href="/expert-insights/buying/melbournes-biggest-ever-weekend-auction-volume-with-an-underbelly-warehouse-thrown-in">$1,477,500 Brighton Street townhouse sale</a>.
The REIV said the last record weekend was 1,517 on the 15 December 2013 weekend.
Some 122 auctions are scheduled next weekend.
After today’s record number of auctions, there have been more than 31,000 Melbourne auctions held so far this year with more than a third of all homes being sold by auction, the REIV chief Enzo Raimondo said.
The suburb with the highest number of auctions so far this year has been Reservoir, with just over 500 auctions held.
The weekend's top sale was when 45 The Strand, Williamstown fetched $3,876,000, according to the REIV, although Property Observer is aware of the $4.45 million sale of 22 Victoria Road, Camberwell where there were three bidders at the Jellis Craig auction. Tavistock, the Henry Kemp-designed 1900 home came on the market at $4 million.
There was also the pre-auction sale of <a href="https://www.realestateview.com.au/Real-Estate/797-orrong-road-toorak/Property-Details-buy-residential-7694388" target="_blank">797 Orrong Road, Toorak</a> which had been listed with $4.5 million plus hopes through Marshall White agents Marcus Chiminello and Nicole French.
But the offering at 22 Walmer Street, Kew was passed in at $5.4 million with no bidders for Selbourne. Ditto 38 Chrystobel Crescent, Hawthorn which James Buyer Advocates reported was passed in at $4.1 with no bidders after two vendor bids.
At Armadale <a href="https://www.realestateview.com.au/Real-Estate/3-myamyn-street-armadale/Property-Details-buy-residential-7694896" target="_blank" style="line-height: 1.3em;">3 Myamyn Street</a> (pictured above) was passed in at a $4.3 million vendor bid, having been listed with reported $4.3 million plus hopes through Marshall White. 
The 1880s trophy home was renovated by architect Nicholas Murray in 2011 utilising its 662 square metre block behind its neo-Gothic facade. There is now $4,975,000 price guidance.
With 1197 results, APM reported a 75.4% Melbourne result which was up on last weekend and last year. 
 
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Steady sales gallop secures 73% success rate on record Melbourne auction weekend: REIV

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First home buyers heading to auction must keep a cool head, particularly on a weekend like the upcoming one in Melbourne. 
Excitement is the air ahead of a record number of scheduled weekend auctions.
There are close to 1,800 auctions lined up for the weekend across Victoria, according to the Real Estate Institute of Victoria (REIV), the most auctions ever held on a single weekend in the state. “I’m tipping this to easily outstretch any of the big auction weekends in the past, including the current record of 1,517 auctions set on December 14 and 15 last year – closely followed by 1,463 auctions on the pre-Cup weekend last year,” said the CEO of the REIV, Enzo Raimondo. "The city's auction market is in excellent form and we believe this record-breaking weekend will see the public turn out in large numbers.”
The top auction suburbs are:
<ul>
<li>RICHMOND </li>
<li> HAWTHORN </li>
<li> GLEN IRIS </li>
<li> PORT MELBOURNE </li>
<li> BRIGHTON </li>
<li> RESERVOIR</li>
</ul>
Source: REIV
With all the attendant excitement, how can you ensure you keep your calm this weekend? Here are our tips.
<ol>
<li>
Head in with your documents pre-prepared By now, you should have looked at your contract of sale, sought out legal advice, obtained a building and pest inspection (and any of your other checks and balances), undertaken any other required due diligence and prepared a cheque or other way to pay your deposit. There’s little time to do this on the day, so having all these things pre-prepared will go a long way to stop the last minute “morning before” rush. 
</li>
<li>
Engage an expert if you need the assistance If you are concerned about bidding, then it may be worth contacting a buyer’s agent to assist you in the bidding process. Alternatively, you may decide that bringing a “devil’s advocate” in the form of a trusted mentor, friend or acquaintance can assist you at auction. If you become more bullish under pressure, this may assist you in maintaining your restraint with bids. 
</li>
<li>
Gauge the crowd ahead of time Head to the auction early and gauge the crowd and the ‘vibe’ ahead of the start. If you’re heading in late you will be unable to weigh up your competition and you may encounter extra stress as a result. This will help you think strategy and determine whether or not you may be contending against another buyer. 
</li>
<li>
Position yourself thoughtfully When at the auction, don’t forget to position yourself carefully in preparation to bid. Property Observer editor at large Jonathan Chancellor <a href="/news/nsw/11-tips-to-avoid-becoming-spring-auction-pushover-buyers">recommends that you never sit in the front row</a>, or with your back to the crowd. “Take a corner position so you can survey all your competition,” Chancellor advises. 
</li>
<li>
Know your highest price and do not waver Before bidding, you should have determined the highest price you’re willing – and can afford – to pay. If you’ve made a thoughtful decision ahead of time, then this should enable you to set your limit on the day. If you do not make a researched judgment on the price then you may face overpaying in the heat of the moment. While it is debatable as to whether you should allow yourself to push a “few thousand” over your set price, it’s advisable that you determine to be comfortable to allow the property to go if it sails past upper limit. 
</li>
<li>
Step back Be confident and polite when bidding, but if you find yourself getting caught up or confused then it’s time to quickly re-assess. Step back, remind yourself of the value of the property and ensure you don’t get swept up in the emotion of the day. Similarly, if you find yourself bidding furiously against another buyer it is worth reminding yourself that you are both causing the other to pay more. Be alert and know when to show restraint.
</li>
</ol>
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jduke-EHk3XBmHkn

Six tips for keeping a cool head at auction

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South Chinese developer Shunlide Group’s Australian offshoot, Surewin Pty Ltd, are set to build 62 new apartments in Ashfield in the company's first Australian project.
Marketed as <a href="https://www.onevictoriastreet.com.au" target="_blank">One Victoria</a>, the development is located on 2,958 square metre land surplus to the Wests Ashfield Leagues Club at 1 Victoria Street.
General manager of Surewin Australia Edward Cheung said that it took them five years to acquire the site.
“We selected international-class firms to partner with, and we’ve worked closely with the local council to ensure the apartments provide the prime living environment for the suburb yet still maintain realistic prices,” he said.
The six-storey building will see upper level apartments with views to the Sydney CBD to the east and Chatswood to the north.
<img src="/images/2014/10/24/Ashfield%20cutaway.jpg" alt="">
Ray White Erskineville’s Peter Shield expects a high level of demand.
“Ashfield is a naturally beautiful suburb surrounded by parklands and recreational attractions, and very convenient to the Sydney CBD via rail, bus or car,” said Shield.
“Surprisingly though, Ashfield has been largely neglected by quality developers, and apartments here have been primarily built to a price for investors.”
He notes that their research has found subdued median prices in <a href="/news">Ashfield</a> as a result, with the median sitting at $590,000, compared to <a href="/news">Summer Hill</a>’s $650,000, <a href="/news">Croydon</a>’s $667,000 and <a href="/news">Five Dock</a>’s $735,000.
“The apartments are 15% larger than Ashfield’s average, and all have at least one secure car space,” he said.
There are three studios available, at 44 square metres internally plus external space of up to 19 square metres, from $545,000.
<img src="/images/2014/10/24/Ashfield%20interior.jpg" alt="">
A further 14 one bedroom apartments from 52 to 58 square metres internally and external space spanning up to 21 square metres are priced from $595,000 upwards.
Two bedrooms, with the most options at 33 apartments, span from 81 to 95 square metres and the externals range up to 99 square metres. They are priced from $755,000.
Finally, there are 12 three bedroom options that are available from $995,000. They span 115 to 129 square metres with externals up to 96 square metres.
Each apartment comes with a 5.5 metre storage cage in the basement. There are 80 car spaces in the development.
<img src="/images/2014/10/24/Ashfield%20kitchen.jpg" alt="">
One Victoria is being designed by Nettleton Tribe, with a third of the site to be landscaping and communal space, with a central courtyard for residents.
Body corporate levies have been estimated at $600 per quarter for one bedroom apartments, $800 for two bedroom apartments and $1,100 for three bedroom apartments. Strata Choice came up with the estimations.
Deicorp is constructing the development, and work is scheduled for early-2015.
The expected completion date currently sits in mid-2016.
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Asian developer’s first step into Australia with 62-apartment Ashfield development

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Across Australia, home sales reached their high point in November last year when 45,640 house and unit sales were recorded over the month and the rolling six monthly trend was swiftly moving higher.
However, transaction numbers through to the end of July this year show that the number of home sales has levelled compared with the seasonal highs of late last year. On an annual basis, transaction numbers are still rising but not at the same growth rate as recorded one year ago.
A year on year comparison (comparing the 12 months to July 2014 to the 12 month period ending July 2013) shows that almost every state and territory recorded an increase in sales with the largest increases recorded across Tasmania where the number of sales is 26.4% higher, and in Queensland where transaction numbers are 15.7% higher.
<img src="/images/2014/10/23/lawless-oct-23-one.png" alt="">
Source: RP Data.
Western Australia and the ACT where the only two regions where transactions were down at 1.5% and 1.1% respectively.
Despite a high rate of capital appreciation, in New South Wales and Victoria the six month trend peaked in December and November last year and has slowly wound down during 2014. Sales in the Northern Territory have also slowed.
In contrast, property sales are gathering momentum in Tasmania, Queensland and South Australia. While coming from a low base, all three states have underperformed the other capital cities for value growth and transaction numbers are moving higher. Tasmania recorded the most significant increase where the rolling six month trend in sales hasn’t been as high since July 2009.
Other metrics such as recently released housing finance data from the Australian Bureau of Statistics (ABS) is pointing towards a peak in housing market activity; these results showed a moderation in the pace of growth for owner occupier mortgage commitments with the annual change in owner occupier housing finance commitments peaking in November last year and mortgage demand, excluding investors, virtually flat over the past twelve months.
RP Data also noted a rise in average selling time and rate of vendor discounting in the months leading up to spring; the average number of days to sell a home reached a recent low of 36 days across the combined capital cities over the month of March this year. Since that time the average days on market figure has trended higher to reach 47 days. Vendor discounting rates haven’t softened as much, up from 5.5% in February this year to 5.8% in August.
When the pace of home sales slows, it can largely be the result of seasonal factors such as in the winter months. Transactions also fall sharply towards the end of December and most of January, as well as at times of national holidays such as Easter.
For these reasons, the spring season will provide a timely litmus test for the housing market. However, the question is whether transaction numbers will rise to eclipse last year’s recent high, or have we moved the peak in buyer demand?
We are already seeing listing numbers ramping up at a faster rate than last year, the big question is whether buyer numbers will match the pace of listings to absorb this additional supply.
<img src="/images/2014/10/23/lawless-oct-23-two.png" alt="">
<img src="/images/2014/10/23/lawless-oct-23-three.png" alt="">
Source: RP Data.
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Spring season will provide a timely litmus test for the housing market

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I found a great property development site a few weeks ago.  It was a three bed house on over 1,000 square metres of land. Whilst this type of property is considered fairly common in this Hunter Region town, there were a few major plusses to the site.
<ol>
<li>Zoning. It was zoned for medium density development - you can build several dwellings on the land as long as you comply with the development control plan (DCP).  Most properties in this town are zoned low density which means we could only build one other dwelling if keeping the house. The house is not really a knock down. </li>
<li>Location. This property is right behind the shops and about 200 metres to the local school. You can walk to the new Coles or Aldi stores. Tenants love this as they may not even need a car, this will appeal to older, downsizers wanting to be close to facilities and young families wanting their kids to be able to walk to school. </li>
<li>Land size and fall. The land is relatively flat and the position of the house is right at the front of the block. The rear yard is large enough to build a duplex in it. </li>
<li>The house is old but in fairly good condition. We could rent it out immediately and still get a 6% gross yield or renovate it and get a higher return. </li>
<li>There is a rear laneway at the back of the property.</li>
</ol>
My initial development strategy was to keep the house and build a duplex - two attached two bedroom single story villas and a three lot subdivision, and the zoning allow this.
After my inspection of the house, I opened the back door to the yard and immediately loved the space, it seemed near perfect for our development strategy. I paced out the area and knew a duplex would fit, we'd need to allow for a driveway to access the duplex from the front road as council do not (usually) allow us to use the rear laneways for direct vehicle access. The laneways are nothing more than dirt tracks with no drainage. They were originally used for 'dunny runs'.
I opened the rear boundary fence gate to check the laneway and that's when I became more than excited.
What I saw was a perfectly sealed road with kerb and guttering that lead to a drain at the next cross road.  Whilst it was still a 'laneway' and there was no street name sign, it appeared to be used for deliveries to the shops and council had upgraded it substantially. I did find a property that appeared to have only vehicle access to it. Ah ha, precedence! 
By now my mind is racing...what if we were able to use this laneway for our duplex access? We'd certainly have more options to play with:
<ol>
<li>Face the duplex to the laneway. We could also upgrade it to a three bedroom duplex and save on the long, expensive driveway. </li>
<li>Torrens title subdivide the duplex from the older house, basically cutting the land in half so each dwelling has a little over 500 square metres each. </li>
<li>Renovate and upgrade the older house and it would be worth about the same that we paid for it on the larger land size. Essentially getting the land at the back for free. </li>
<li>Or, demolish the house and build another two villas - a duplex facing the street, effectively making this a four unit project. I really liked this one. </li>
<li>For a client on a low budget, we could simply cosmetically renovate the house and build a granny flat that could be relocated in the future so that the site could be used to its full development potential. This is what we call a stepping stone strategy.</li>
</ol>
We loves this type of development site as it offers so many options to our clients and the house will provide some cash flow during the development phase. These sites are about as rare as hens teeth and so we get a big buzz out of finding them.
Our clients who have taken this site, completed a three unit development with Property Bloom earlier in the year and have come back for more. Their plan is to get as many developments under their belt before starting a family. They are both in well paid jobs and can take advantage of the depreciation benefits.
Our challenge now is to see if we can convince council to allow us direct vehicle access to the laneway. Our back up plan is to run the driveway to the front street as this will still work, but our goal is to optimise this development.
Watch this space and I'll let you know how we go.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Exploring all options of a development site

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There are 1,641 auctions scheduled this week in Melbourne compared to 1,619 for the same time last year. This is an all-time record for the Melbourne auction market.
This highest volume of auctions will be found in <a href="/news">Brighton </a>and <a href="/news">Richmond </a>where 27 are expected followed by 25 in <a href="/news">Hawthorn</a>, 24 in <a href="/news">Reservoir </a>and 23 in both <a href="/news">Brunswick </a>and <a href="/news">St Kilda</a>.
Prior to this week, the previous record number of auctions was the same week last year. Over the past few years this week in October has regularly featured the peak number of auctions for each of the years as sellers avoid the following week due to Derby Day and the Melbourne Cup.
On a city wide basis, the time on market results for houses sold at private sale tightened from 37 days to 36 days over the last week whilst vendor discounting fell from -4.9% to -4.8%.
Key data
<ul>
<li>Clearance rate week ending 19 October: 71.2%</li>
<li>Melbourne auctions expected week ending 26 October: 1641</li>
<li>Melbourne private sales time on market week ending 19 October: 36 days (houses)</li>
<li>Melbourne vendor discounting market week ending 19 October: -4.8% (houses)</li>
<li>Listings being prepared for market are 4.7% higher in month ending 19 October (seasonally adjusted)</li>
</ul>
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