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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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New development Vivre, a one- and two bedroom apartment complex in Essendon, has seen significant investor attention and expects owner occupiers to follow suit.
<a href="https://www.vivreessendon.com/" target="_blank">Essendon’s Vivre</a>, at 64-66 Keilor Road, from Monson Property Group, has the unusual twist of seeing 90% of the 67 apartments with something called ‘flexible’ floor plans.
Essentially, this means that buyers can re-position a moveable wall to change the size or shape of their living areas – to make a second bedroom, a study or a larger living area, for example.
Architect ClarkeHopkinsClarke has become the mastermind by the flexi-apartment concept that has seen 40% of apartments securing registrations of interest, with 25 apartments reserved, after an expressions of interest campaign was launched on Thursday.
One-bedroom properties range from $375,000 upwards, for 50 square metres. Flexi-one bedroom apartments from 50 to 55 square metres command prices from $399,000 upwards. Meanwhile, two-bedroom apartments from 57 to 72 square metres start from $480,000. Two-bedroom apartments with a study are sized from 74 square metres, at $550,000 plus. The most expensive apartment is a two-bedroom apartment with a study for $575,000.
Each includes access to a lift, and a basement car park.
Currently, <a href="/news">Essendon</a> is commanding a median unit price of $435,000, with median weekly advertised rent at $310 per week, according to RP Data.
Riveren’s Sophon En, the marketing agent for the development, said that this is a leg-up for first home buyers as the flexible floorplans allow investors to buy a one-bedroom and turn it into a two-bedroom for a greater return.
“Essendon as a suburb has strong growth potential, with recent figures showing an average median price growth of 24% for houses and apartments over the last five years.  It is a desirable place to live and ticks the boxes for infrastructure and great access to local facilities, restaurants and other amenities,” said En.
En expects that Essendon will take off with the government’s focus on the area as a growth zone.
Meanwhile, Monson Property Group’s director, Simon Mehegan, said that the name Vivre, French for ‘live’, was in reference to the flexible floor plan concept of the apartments; being somewhere to live, have living space and the capability of adapting the property to suit your lifestyle.
“It’s become common for people to buy two apartments and merge them into one for more space but this is expensive. We’re turning this concept on its head and making added space affordable,” he said.
Apartments include stone bench tops, chrome fittings, timber floorboards, stainless steel appliances and mirrored splashbacks, with similar chrome features in the tiled bathrooms.
The display suite is set to open in early May 2014, with construction to start in September 2014. March 2016 is the current date set for completion.
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jduke-EHk3XBmHkn

Investor interest surges for new Essendon apartment development, Vivre

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Everywhere it’s Brisbane, Brisbane and more Brisbane! - the hottest place on the real estate planet if you believe the evening news, real estate junkies and local pollies. 
But how ‘hot’ is Brisbane really? This week, let’s peel back some layers and have a peak.
A quick peak
The Brisbane residential market is in recovery.  It crossed the threshold from trough to recovery in the second half of last year.
But recent lifts in new dwelling and rental supply, plus relatively high levels of second-hand property for sale, have placed a brake on potential price and rental growth. These are cyclical issues, not structural ones.
Brisbane is set to enjoy a much awaited upturn - an upturn in sales mostly; not much in the way of price or rental growth.
Enough new supply
Don’t get me wrong, the demand for new property is high in Brisbane.
There is a current need to build around 7,900 new dwellings in Brisbane City Council each year.  Yet over 9,000 new dwellings were approved during 2014.  There are plenty more in the pipeline, with some estimates exceeding 20,000 each year for the next three to five years.  Ouch!
At present, most of Brisbane’s new housing starts are in medium to highrise developments.  Such development is warranted (demographics; changing lifestyles; downtown gentrification; cost of living/travelling and even rent/housing prices), but the limitations on providing other attached housing supply (see <a href="https://matusikmissive.com.au/2014/02/12/opinion-highrise-oversupply/" target="_blank">here</a>) are exacerbating the inner city apartment cycle.
Since 2006, there has been a need to supply 63,000 new homes.  The amount of new dwellings actually approved was 66,000.
In short, the Brisbane housing market is at equilibrium.  Whilst previously undersupplied – during 2009, 2011 to 2013 – the recent lift in new housing starts has more than filled this void.
<img src="/images/2014/04/02/matusik%20april%202%20one.png" alt="">
Falling rents
There are about 4,400 residential properties for rent across Brisbane City (20 kilometre radius from the Brisbane GPO) and this is more than doubled just two years ago.
The city’s overall residential vacancy rate is rising and is now sits at 2.6%.  The rapid rise in properties for rent is largely an inner city apartment issue; as already mentioned, supply has increased sharply in this area.
Two-thirds of the properties for rent across Brisbane are in inner city suburbs, with 1,800 vacancies as at late February 2014.  The inner city vacancy rate is 4%; it was 3.6% late last year and just 1.4% during much of 2012.
The Brisbane rental market is approaching equilibrium with a vacancy rate nudging 3%.  Until this excess rental stock is absorbed – which, given the ramp up of new supply could take some years - rental growth, especially for second-hand apartments, will remain subdued.
Rents are already starting to fall for Brisbane apartments.
 <img src="/images/2014/04/02/matusik%20april%202%20two.png" alt="">
High resale numbers too
True, the amount of resale stock on the market is falling; but the decline (so far) has been quite slow.  About 9,500 properties remain for sale, which presents about 3% of the total housing stock across the city.
We should see resale stock levels fall across the city this year, which in turn should see some price growth for detached houses and infill compact housing.  Apartment price growth, this cycle, is likely to lag.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
In summary, Brisbane’s housing supply line now exceeds demand.  Price and rental growth – especially for inner city apartments – is likely to remain very subdued.
The new apartment market – particularly when it comes to those ugly monolithic towers downtown – is now a very crowded space.  Investors need to buy into projects – and within them, an apartment – with a clear point of difference.
The rising tide, this cycle, isn’t strong enough – like it was during 2001 to 2007 - to float all ships.  Overseas and interstate investors, in particular, you have been forewarned.
Sales up
Brisbane is, at best, going to have a sales-led recovery.
29,500 residential sales are forecast for fiscal 2014.  We are anticipating 34,000 residential transactions during financial 2015 being: 1,400 land sales; 20,000 detached house sales and 12,600 attached dwelling transactions.  Rising sales volumes have been steadily increasing since 2011.
This is good news – and more sales need to happen – in order to absorb the high-ish amount of resale stock on the market.
<img src="/images/2014/04/02/matusik%20april%202%20three.png" alt="">
Rents down
Rents are rising for houses; flat for attached dwellings and already falling for some apartments.
Annual rent changes in Brisbane last year were: a drop of $10 per week for one bedroom apartments (-3%); -$10 per week for three bedroom apartments (-2%); No change for two bedroom attached and two bedroom houses; an increase of $5 per week for three bedroom attached (1%); +$10 per week for three bedroom houses (3%) and +$15 per week for four bedroom houses (3%).
Already high volumes of new apartment supply are forcing rents down. Tenants can afford more rent, but currently they have ample choice.
<img src="/images/2014/04/02/matusik%20april%202%20four.png" alt="">
Price growth?
Most price growth takes place during a property recovery and upturn – more on this topic next week – but during the recovery phase of the Brisbane cycle (calendar 2014), Brisbane’s residential prices aren’t likely to rise anywhere near as much as some are advocating.
Current median residential prices for Brisbane (again, the Brisbane City Council area) are - $310,000 suburban vacant land; $546,000 detached house and $406,000 attached dwelling.
We anticipate that these middle values could increase during 2014/15 to: $325,000 vacant land (up 5%); $580,000 detached house (up 7%) and just $412,000 attached dwelling (up 2%).
<img src="/images/2014/04/02/matusik%20april%202%20five.png" alt="">
Cycle and Structure
When you boil it down to its core, property investment is ruled by two things – the cycle and structural changes.
When it comes to things cyclical, Brisbane is in a recovery, but recovery in terms of price and rent growth is likely to be much milder than in the recent past.
The supply-demand imbalance, plus some limits of local housing affordability - exacerbated by local low wage growth - is placing a limit on how far prices and rents can grow.
We anticipate values to rise between 8% and 15% for detached houses and infill compact dwellings during the recovery and upswing (calendar 2016) phases of the Brisbane cycle.  We think this market will peak in early to mid-2016.  Price growth beyond these limits could see a harder downturn (late 2016 to 2018) than might otherwise be the case.
Some readers may deduce from this that detached houses are a better investment.  For a range of structural reasons, this may not be the case.  Demographics and value (affordability) are the two major structural influences.
True, there is more short-term upside for detached houses in Brisbane, but for mine, the longer-term safer bet is for an investor to buy something attached and somewhat unique, which has the capacity to be shared by tenants and sold – in time – to an owner-resident.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

How hot is the Brisbane market?

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Last spring's trophy listing on the upper north shore, Kooyong at Warrawee sold with the settlement price showing at $7.85 million through Christies International agent Darren Curtis.
Kooyong (pictured above) is the historic Warrawee mansion on 9,000 square metres that last traded for $6.35 million in late 2008 when bought by the chief financial officer of Sirius Minerals, Jason Murray, and his wife, Danni.
It has been bought by the Hitchcock-Gransier family who sold through LJ Hooker's Robert Ward for $4.1 million in Lindfield late last year, but who still own at Dee Why. It's Francois Hitchcock and Jackie Gransier.
Kooyong is estimated as still ranking as the area's largest estates, and unquestionably one of its most historically significant properties given<a href="https://radicalterrace.com/post/30809445267/kooyong-55-hastings-road-warrawee-sulman" target="_blank"> the 1895 mansion was designed by architect Sir John Sulman</a>. Kooyong, originally named Upton Grey, was built for the prominent flour milling industrialist Gillespie family, who lived there until 1917 when the property sold to William Henry Locke, the general manager of Royal Exchange Assurance of London, who renamed it Kooyong.
The sale is not however a suburb record which has stood as $11.5 million since 2010 when mining magnate Jerry Ren bought Bremon, the mansion once known as Pantugeul. Ren is the controlling shareholder in the privately owned Australian Oil and Gas, which has mining rights over close to 300,000 square kilometres - nearly a fifth of the Northern Territory. 
But Title Tattle is now aware there has apparently been a new suburb record in neighbouring Wahroonga of about $9.2 million. It's a house that likewise has had a name change over the years.
It's <a href="https://www.ourestates.com.au/properties.php?id=9394153" target="_blank">Wairimu the 1927 five-bedroom, 3228-square-metre Water Street home</a> (pictured below) with tennis court and pool. It was sold by the veteran expatriate television executive Steve Askew and his wife, Cressida after being listed for two years with $11 million hopes presumably on top of it having an amazing - and befitting - home cinema.
Our Estates agent Adam Regan secured the sale of the six-bedroom property with the buyer being a senior executive from an accounting firm in China.
<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/2014/04/02/1.jpg" alt="">
The Wahroonga estate previously had traded in 2007 for $5.2 million, when it was bought some 18 months after its listing by the hotelier Courtney-O'Connor family.
It had traded in 1991 when the Courtney-O'Connor family bought it for $2.5 million.
Property Observer columnist Margie Blok says she knew the property originally as the Penman Residence, designed by Hugh Venables Vernon. It's also been known as Broadlands. And the Wairimu name stems from "wai" meaning "by the water" in Maori and rimu is a New Zealand tree.
The veteran television executive Askew was chief operating officer for News Corp Star TV in Asia, then turning his craft to co-producing movies with Jackie Chan and Andy Lau. The latest Wahroonga sale bettered a late 2013 spring sale on Burns Road through Christies agent Darren Curtis which briefly held the suburb record at $7.5 million.
In 1928, Locke sold Kooyong to barrister Horace Markell, QC, who owned it until the late 1940s when the Australian federal government bought it for the Department of Social Services as a rehabilitation centre.
In 1978, Kooyong was transferred to the CSIRO.
In 1986, shortly after the NSW government imposed an interim conservation order, the property sold for $2.3 million to Knox Grammar School.
<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/2014/04/02/10.jpg" alt="">
Title Tattle recalls in 2001 Knox Grammar abandoned plans to develop it into a boarding school. There were sheep that grazed on the then prestigious 12,500 square metre property which Knox had been using in agricultural study classes.
For more than 10 years residents of Hastings Road and Pibrac Avenue led by Ian Londish had objected to any development, and while the school eventually won development approval in 1997, it decided after a spending priorities review that the boarding facilities could be provided elsewhere at a significantly lower cost.
When Knox sold the Hastings Road property to the Cahill family for $5.7 million in 2002 the grand house and its outbuildings were in a state of extreme disrepair.
Subsequently, two blocks of land were subdivided from the estate.
In December 2008, the Cahills then sold Kooyong for $6.35 million to Jason Murray, who is the chief financial officer of Sirius Minerals, and his interior designer wife, Danni.
The Murrays renovated even adding a private pub in one of the three outbuildings. 
<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/2014/04/02/4.jpg" alt="">
<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/2014/04/02/5.jpg" alt="">
<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/2014/04/02/6.jpg" alt="">
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jchancellor-FAypfDUnLy

Warrawee and Wahroonga in upper north shore trophy home name change sales see-saw

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Underquoting is a hugely tricky topic for many in property, with the “quote [or price] it low, watch it go” mantra said to be the modus operandi of many in the real estate selling business, especially when it comes to auction sales.
Recently, <a href="/news/online-petition-for-mandatory-reserve-price-publishing-launched">EPS Property Search’s Patrick Bright began a petition against underquoting</a>, and encouraging the consideration of early publishing of the reserve price for properties heading to auction. Property Observer covered this petition upon its launch, and <a href="/news/should-auction-reserve-prices-be-published">discussed it with him prior to its inception</a>.
<blockquote>
SQM Research’s Louis Christopher has also expressed his dislike of the practice of underquoting and is vocally backing Bright’s petition.
</blockquote>
Property Observer recently attended an auction in Sydney where there was around a $200,000 discrepancy between reserve price and the price guide provided by the real estate agent. The property sold at auction just above the reserve, and we have clear reason to believe that the vendors would never have considered an offer around the price guide provided. Certainly, there may have been buyers that were unable to afford this price and that may have spent money on inspections and conveyancing to prepare for the auction, let alone time. As a buyer's agent, Bright says that this is all too common and that he sees underquoting at the majority of auctions he attends.
SQM Research’s Louis Christopher has also expressed his dislike of the practice of underquoting and is vocally backing Bright’s petition.
"I am personally sick to death of underquoting in real estate.  It wastes time, money and breaks people’s hearts once they know they have been deceived. Ultimately it is damaging to the property sector and all those who participate in it,” said Christopher in his recent newsletter.
"One thing Patrick and I share in common is that we have a very strong belief in property market transparency and ensuring people don’t get ripped off in property transactions. Recently, Patrick has gone so far as to get a petition going to make it compulsory to advertise auction reserve prices to stamp out underquoting and dummy bidding,” he said, noting he 100% agrees with the objective, urging others to <a href="https://www.change.org/petitions/the-honourable-stuart-ayres-mp-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding%20%20" target="_blank">sign the petition</a>.
However, Christopher also expressed his dislike at media ignoring the petition.
"Sadly, I can tell you now there are some dark forces out there who don’t want to see this happen. Indeed, Patrick has recently told me of some media outlets who won’t give this petition coverage, even after promises they would! No doubt they are worried they may lose advertising dollars due to these dark forces,” he wrote.
He said he had a message for those outlets: "Please show a bit of spine on this issue and give it the coverage it deserves.”
He told Property Observer that despite the pain some interests may feel in the short term, price transparency will create overall benefits across the market, and it should be given a run and prominence.
Recently, mainstream media outlets went gangbusters writing about Queensland’s potential change to ban price guides from auctions – something<a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath"> Property Observer also wrote about</a> – and he noted that it is startling to see the contrast between some experts’ exposure and others.
"[Underquoting] does come out in a rising market,” Christopher explained. “Markets can move quickly, but what Patrick has put forward is that the reserve price isn’t provided until a week out.”
Discussing the Queensland potential price guide ban, he noted that he sat on the fence, saying there were many pros and cons. However, he noted that no guide is better than a phoney guide.
<blockquote>
"They’re big businesses protecting their bottom line, and it’s completely their right to do that,” Bright said.
</blockquote>
While neither would disclose which media outlets said they would cover the petition and since changed their minds, Property Observer notes that online there have been stories from Australian Property Investor magazine. Patrick Bright confirmed that API had been in support of sharing news of the petition.
Bright said that he doesn’t want to criticise individuals as he is sure there are powers above them calling the shots.
"They’re big businesses protecting their bottom line, and it’s completely their right to do that,” he said.
He also said that he is getting a lot of support when he personally speaks to sales agents, but finds that many are concerned of ridicule from their peers if they support the petition.
Disclosure: Jennifer Duke has signed the petition for reserve prices to be published, as well as <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">a petition opposing the Queensland price guide ban</a>.
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Louis Christopher and Patrick Bright say media outlets are ignoring underquoting petition

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The number of unique residential properties advertised for sale across the country over the four weeks to 30 March 2014 was recorded at 243,941. 
This figure consists of 47,805 newly listed properties over the four weeks and 196,136 re-listed properties.
As highlighted by the <a href="https://blog.rpdata.com/2014/02/homes-prepared-sale-real-estate-agent-activity-gathers-pace-2014/" target="_blank">RP Data listings index</a>, there has been a surge in the number of new properties listed for sale and they are 18.9% higher than they were at the same time a year ago. Although new listings have surged, total properties advertised for sale are -3.8% lower than they were a year ago which is reflective of the rapid rate of sale we are seeing nationally. Although new listings are way up on a year ago, the rate of sale is much faster and total listings are falling. 
To put it simply, properties are being absorbed by the market faster than they are being listed for sale.
<img class="aligncenter size-full wp-image-3065" src="https://blog.rpdata.com/wp-content/uploads/2014/03/Chart-12.jpg" alt="Chart 1" width="500" height="180">
Looking at the different residential property types; new listings for houses are 20.2% higher than they were a year ago however, total house listings are -4.5% lower.
New unit listings are also significantly higher, up 22.6% while total unit listings are -5.1% lower.  New vacant land listings are -5.4% lower than they were a year ago however, total listings are 2.1% higher.
<img class="aligncenter size-full wp-image-3063" src="https://blog.rpdata.com/wp-content/uploads/2014/03/Chart-21.jpg" alt="Chart 2" width="444" height="262">
Looking across the individual capital cities, each region except for Canberra (-12.0%) is recording a higher number of new properties listed for sale than they were a year ago. 
Sydney and Melbourne, which are also recording the strongest capital growth conditions, have recorded the largest rise in new listings over the year, up 49.7% and 32.0% respectively compared with a year ago.  Clearly new properties are coming to the market in both cities however, evidence suggests that most are selling quite shortly after the listing.
Although new capital city property listings are generally higher than they were a year ago, total listings are generally much lower than they were a year ago. Across the combined capital cities total listings are -8.3% lower than they were a year ago and each city except Hobart (3.3%) and Darwin (25.2%) is recording fewer total listings.  
Although both Sydney and Melbourne are each recording fewer total properties advertised for sale than a year ago, it is interesting to note that total listings in Melbourne (33,144) are significantly higher than in Sydney (22,423).
It is encouraging to see that a greater number of new residential properties are coming to the market than at the same time last year however, it is important to remember that in most regions sales transactions are much higher than they were a year ago. 
Clearly buyer demand has escalated and quality properties are not staying on the market for a long period of time which is highlighted by the fact that total listings both at a national and capital city level are lower than they were a year ago.
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Housing market is absorbing new supply faster than it is being added

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Queensland’s Great Start Grant, offered to first home buyers buying or building a new house, townhouse or unit valued up to $750,000, saw 5,200 grants paid out, with 500 more approved and ready to be paid. This grant was announced in the 2012/2013 budget.
Treasurer Tim Nicholls said that Great Start Grants have seen the government pay out $79 million in grants through this scheme.
Of the buyers, almost 50% were in the greater Brisbane area, while almost 20% went those in north Queensland and more than 10% to those on the Gold Coast.
“We’ve had 24 consecutive months of growth in the total number of trend dwelling approvals,” said Nicholls.
“Approvals in January this year were 64.3% higher than in January 2012 in trend terms. 
“We expect that the construction sector will continue to improve in 2014 with sustained low interest rates and stronger household income growth,” he said.
The Great Start Grant offers $15,000 to eligible first home buyers.
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Queensland first home buyer Great Start Grant taken up by 5,000

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The Sydney based property developer Crown Group received the Urban Development Institute of Australia's (UDIA) Best High Density Residential Development award for the Top Ryde City Living development last week.
The $500 million development atop Sydney’s Top Ryde City shopping centre was one of nine winners to receive awards at the UDIA’s 2014 National Awards for Excellence Gala Dinner held at the Brisbane Convention and Exhibition Centre on Friday.
Prior to last week’s win, the development took home the 2013 state award for Best High Density Development. That year, Crown Group also received the Best Concept Design award for Eastlakes Town Centre, a joint venture with Prosha Pty Ltd.
Crown Group’s chief executive Iwan Sunito was delighted to receive the national award.
“It’s an honour to be recognised by such a prestigious award in what is a very competitive market,” he said.
“Over the past eighteen years Crown Group has successfully carved itself an undisputed place in the Australian property market and buyers have embraced our developments,” he said.
“This award is a testament to the five-star, resort style living Crown Group has become renowned for.
“These awards are proof corporate growth, quality and design excellence do not have to compete with one another, they can exist together,” said Sunito.
Development director Tim Campbell said the award recognised the development’s high quality of design.
 “Top Ryde City Living exemplifies Crown Group’s drive to contribute the highest calibre of design and development required to create sustainable urban cities for the future,” he said. 
 “Many people have been involved in delivering the vision for Top Ryde City Living and it has been a collaborative journey.”
The development will house 653 apartments, including studios and penthouses, across seven buildings. Common areas will include a music room, library, media theatre and outdoor areas with a children’s playground and pool. Construction began in 2011 and about 500 residents have moved in to the complex.
The development’s final stage, Viva by Crown, is due for completion in mid-2014, with a selection of one and two bedroom apartments remaining. Prices start from $613,000.
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Crown Group's Top Ryde takes out the UDIA's Best High Density Residential Development award

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A South West Sydney development has been given the Urban Development Institute of Australia’s Australian Residential Development of the Year 2014 award.
The winner, <a href="https://www.harringtongrove.com.au" target="_blank">Harrington Grove</a>, is a low-density residential development in Camden Council area that includes lots from 700 square metres to 1,000 square metres in size in a bushland setting.
Amenities were included for residents, such as Harrington Grove Country Club, two swimming pools, four tennis courts, a gym, barbecue areas, playgrounds, an outdoor amphitheatre and a cycleway network. There are also many events created by a Community Liaison Team.
Property Observer notes that this is largely delivered through a fun online noticeboard, called Grove Life, that provides residents information about dog etiquette, gym days and events. In 2013 there was a particularly heartwrenching incidence where a resident’s son started treatment for Neuroblastoma. The community got behind the resident assisting with cutting grass, cleaning and cooking.
<img src="/images/2014/04/01/harrington-grove-aug-30-two.jpg" alt="">
Managing director for Harrington Estates, Terry Goldacre, said that the residents are at the centre of their developments, and that they were humbled to receive the award.
“With the help and cooperation of Camden Council, NSW government, local MP Chris Patterson and Mayor Lara Symkowiak, we have laid the foundations for an exceptional community and believe that Harrington Grove truly is the best place to call home,” he said.
The judges were said to be impressed by the holistic approach and respect for the natural environment, as well as the attention to detain, restoration of the bushland and creek lines and integration with residential precincts.
The award is now proudly presented as a pop up banner on the front of their stylish black-and-gold coloured website.
The development <a href="/news/harrington-grove-scores-top-marks-at-udia-residential-development-awards">previously received the state award for the development</a>.
Harrington Park was acquired by Sir Warwick Oswald Fairfax in 1944. He dreamed of turning it into an exclusive, private estate but did not live to see its realisation. His wife, Lady Mary Fairfax, then took over the development of the suburb.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>. 
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South-western Sydney development crowned “Australian Residential Development of the Year”

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Last week was the busiest week so far this year for capital city auctions, with 3,009 properties taken to auction, increasing from 2,466 over the previous week.
Although auction volumes increased across the capital cities last week, the same cannot be said for the auction clearance rate, which fell slightly over the week, down from a final clearance rate of 69.4% the previous week to a preliminary 68.8%. It is expected that the next two weeks will be busy across each of the major capital city auction markets in preparation for a slow down around Easter and Anzac Day, with two consecutive long weekends in a row.
To put the ‘slow down’ into perspective, over Easter weekend last year, there were only 547 capital city auctions, down from 2,649 the previous week, and the clearance rate fell from 64.1% the week prior to 58.7% over the Easter weekend.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Capital-city1.jpg" target="_blank"><img class="alignnone size-full wp-image-3059" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Capital-city1.jpg" alt="20140330 Capital city" width="994" height="730"></a>
So far this year, Sydney has consistently been the strongest performing auction market in terms of clearance rates. This week was no different, with the preliminary auction clearance rate for Sydney recorded at 79.5%, up from 76.1% over the previous week. There were 1,151 auctions held in Sydney this week, the third time this year where auction volumes have been above 1,000 across the city. At the end of last year, Sydney was consistently recording 1,000 plus auctions on a week-to-week basis throughout November and leading up to Christmas.
With the RP Data-Rismark end of month figures out tomorrow, it is fair to say that it has been a strong month across the Sydney property market.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Sydney.jpg" target="_blank"><img class="alignnone size-full wp-image-3056" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Sydney.jpg" alt="20140330 Sydney" width="989" height="648"></a>
A preliminary clearance rate of 65.9% was recorded across Melbourne this weekend from 1,121 auction results compared to 69.4% recorded last weekend. This is the lowest clearance rate this year, but is consistent with the middle of December last year when there were 1,616 auctions.
Last weekend’s result reflects the high volumes where this month, there has been an average of around 1,060 auctions per week. This is a record high for auction volumes in March and has provided buyers with a very high level of choice. For this year, there has been five weeks so far where more than 1,000 properties have been taken to auction, compared to just two weeks at the same time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Melbourne.jpg" target="_blank"><img class="alignnone size-full wp-image-3055" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Melbourne.jpg" alt="20140330 Melbourne" width="994" height="654"></a>
Brisbane recorded a rise in auction clearance rates this week, with the preliminary clearance recorded at 45.5%, compared to 37.3% over the previous week. The number of residential Brisbane properties taken to auction last week was much higher than the previous week and much higher than anything we have seen so far this year. There were 237 auctions across Brisbane last week, compared to 130 the previous week. So far this year, the average number of properties being taken to auction in Brisbane is around 16% higher than in 2013.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Brisbane.jpg" target="_blank"><img class="alignnone size-full wp-image-3053" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Brisbane.jpg" alt="20140330 Brisbane" width="979" height="647"></a>
There were 107 Adelaide properties taken to auction last week, with a preliminary auction clearance rate of 62.9%. Over the previous week, Adelaide’s final auction clearance rate was recorded at 58.8%, with 80 properties taken to auction over the week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Adelaide.jpg" target="_blank"><img class="alignnone size-full wp-image-3052" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Adelaide.jpg" alt="20140330 Adelaide" width="996" height="661"></a>
For the smaller auction markets of Perth, Hobart, Canberra and Darwin, results were mixed over the week. There were 54 auctions held in Perth, with a preliminary clearance rate of 45.0%, 11 auctions held across Hobart with a clearance rate of 25%, 50 Canberra auction with a clearance rate of 60.0% and finally, Darwin had a preliminary clearance rate of 40%, with just nine auctions held across the city.
RP Data is currently tracking 2,491 capital city properties going to auction for the coming week.
*Melbourne auction commentary provided by Robert Larocca, RP Data’s Victorian housing market specialist
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Clearance rates slip amid busiest week of the year: RP Data's national auction market wrap

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Near record numbers of auctions will take place over the next two weekends as sellers fight to lock in a sale in a <a href="https://www.smartcompany.com.au/finance/investment/41214-property-set-to-heat-up-prior-to-easter-with-20-homes-over-2-million-sold-in-sydney" target="_blank">pre-Easter rush</a>.
Australian Property Monitors senior economist Andrew Wilson says next weekend could see 900 to 1,000 properties listed for auction in Sydney, before an Easter weekend lull.
Over the weekend, clearance rates in Sydney were 83.3%, based on 814 listings, 393 auctions and 345 sold. The median price in Sydney for houses sold at auction was $1,038,000, while the median price for units was $720,000.
The most expensive property sold at auction in Sydney was a four bedroom house in Clovelly (pictured above), which sold for $3.8 million. The most affordable was a two bedroom unit in Brighton-Le-Sands which sold at auction for $405,000.
“In Sydney the prestige market was strong, particularly in the lower North Shore… I’m not sure we’ll see the same in the next two weeks,” he says.
“The clearance rates tend to fall down when there are high numbers of listings.”
In Melbourne over the weekend the auction clearance rate was 71.5%, with 1,185 properties listed, 859 auctions and 616 properties sold. The median price for houses was $818,000, while the median price for units was $495,000.
The most expensive property in Melbourne was a six bedroom house in Hawthorn East, which sold for $3.24 million. The most affordable was a one bedroom unit in Carlton that went for $175,000.
Wilson says it was the lowest auction clearance for Melbourne this year, aside from the Labour Day long weekend.
“It is a sign of the significant numbers of properties coming through on auctions, with buyers spoilt for choice,” he says.
Wilson says Melbourne’s outer Eastern suburbs are continuing to hold up the market, with the strongest clearance rates.
In Adelaide, AMP reported that there were 58 properties listed, with 34 auctions and 23 sold. In Brisbane, 99 were listed with 13 auctions and seven sold.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
APM's 29 March weekend auction results
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