An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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Sometimes the advice given to property investors by apparently credible sources is breathtakingly bad.
Here’s the best example for 2013 so far. An article on domain.com.au purported to provide “five top tips” to people looking to buy an investment property.
The headline was the first clue that this was a feast of furphies: “Supply and demand says inner beats outer.”
Already we’re in myth territory, even before the article’s intro.
But read on and here’s “top tip” number one: “Properties close to the CBD are in shorter supply than those in the middle and outer ring locations, so they’ll always be in demand.” There are so many ways to punch holes in that dreadful sentence it’s hard to know where to start.
But the greatest irony is that this particular tip comes from a property professional based in near-city Melbourne. Inner-city Melbourne is Australia’s most oversupplied market, even putting the Gold Coast in the shade.
Vacancy rates are in double digits and projects containing tens of thousands more apartments are being marketed. Developers are up in China trying to find buyers. How this tallies with the claim of short supply and constant demand is not explained in the article.
The idea that there is constant strong demand for properties close to a CBD, and therefore superior growth, is one of real estate’s greatest lies. Near-city residential markets are notoriously volatile, subject to economic fortunes, the exchange rate and the stock exchange roller coaster. The price graph for a “prime” suburb is never smooth. There are as many deep troughs as there are peaks. Toorak provides a fine example.
The demand is not constant and it is seldom large, because while many people may aspire to reside in Toorak or Point Piper, most punters cannot afford to so that aspiration does not translate into market demand.
Affordable outer suburbs have much smoother graphs and less topsy-turvy markets. That is because that’s where the great mass of housing demand goes. People buy where they can afford.
This is why the top 10 list for long-term capital growth in the Brisbane metropolitan area is dominated by suburbs in Ipswich City, on the south-western extremity where homes are affordable. It’s also why the list for Sydney is topped by affordable outer suburbs and the worst performers are mostly “prime” suburbs with median prices above $1 million.
We get the same result every time we research Australia’s major cities. The top 10 list highlights the affordable areas and the bottom 10 list features mostly millionaire suburbs.
So when “top tip” number one says that someone with $700,000 is better off buying one good-quality property in an inner suburb than two $350,000 properties elsewhere, they’re floating in a parallel universe. As I have demonstrated with research data in many articles and seminar presentations, the investor who ten years ago bought three properties in cheaper suburbs and/or regional centres would be infinitely better off than another who bought one property in an expensive inner-city enclave populated by people with more money than investment sense.
In one example, I focused on a buyer who paid $6.8 million in Wolseley Road, Point Piper, in 2002 and sold for $8.16 million in 2010 – a paper profit of $1.38 million representing growth of just 2.3% per year (fairly typical for that location). If they’d invested that money in 2002 in the top-performing suburbs of Brisbane (buying multiple properties), they would have made a profit of over $12 million, because of the vastly superior capital growth rates.
The domain piece goes on to advise buying property with unique features and looking for homes in “streetscapes that offer a sense of architectural consistency” – and really it’s just theoretical waffle from Melbourne professionals who benefit if investors buy the sort of homes they advocate. It’s all motherhood statements, unsupported by research.
This article demonstrates brilliantly the difference between an attitude and an argument. Any fool can have an attitude, but an argument is an attitude supported by facts and figures.
In my 30 years researching real estate I have seen many people expressing the attitude that “quality” properties in “prime” suburbs make the best investment, but I have not seen anyone back it up with research data.
The reason? The data contradicts them.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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The idea of constant strong demand for inner-city property is a myth: Terry Ryder 

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The home builder AVJennings has posted a $19.1 million loss for the first half of the 2013 financial year compared to a $3.3 million profit a year ago. But it has advised that consumer confidence remains the key issue and until there was a positive change, market conditions will continue to remain challenging.
The value of its residential projects has had a 5.3% cut, slashing $16 million from its result. 
Total lots under control sits at 10,581 for the group whose history stems back to 1932 when "proud old builder" Albert Jennings founded Australia's most famous house building company which is now publicly listed.
Almost 80% of the impairments related to its troubled Queensland projects.
"The Queensland market has still not recovered to the extent previously expected by either the company, its competitors or most industry forecasters,"  the chief executive Peter Summers said.
"Until relatively recently Queensland prices, particularly in the lower and middle segments, were high by historical levels compared to Sydney and Melbourne.
"This is no longer the case and the Queensland markets in which the company operates are now priced at, or even below, historical levels and overall fundamentals are quite strong.
"Unfortunately, Queensland has suffered in recent times from many issues such as the effects of floods, lower population growth, the impact on tourism from the high Australian dollar and recent softening in the
mining sector. This has impacted on consumer confidence, probably to an even greater extent than many other areas in Australia," he said.
But the main reduction in revenue occurred in Victoria.
"The Victorian market was overheated during 2010/11 and conditions have since softened considerably.
"Revenues declined by $31.8 million for the reporting period from December 2011 figures, however, margins on Victorian projects remain acceptable and sales performance over the December 2012 and January 2013 period improved and indicate that market conditions in Victoria appear to have stabilised."
The company cut the value of a Victorian project, noting that the downturn in that state had "required a more aggressive pricing structure" on the project.
It also cut the value of its Cobbitty, NSW project where bureaucratic red tape had been costly, according to the market update.  AVJennings owns 43 hectares of residential-zoned land at Cobbity, in Sydney's south-west, where it hoped 470 lots could be developed.
Mr Summers said the development status of AVJennings’ two main projects in South Australia should see improved performance in the short term. The St Clair project is now entering a significant stage of maturity and sales activity is increasing accordingly. <a href="https://eyrepenfield.com.au/lifestyle/eyre-park" target="_blank">The Eyre (Penfield) project </a>is just underway with the first stage including a substantial display village comprising 8 contract builders and 20 display homes.
Revenue fell from $92.2 million in the prior corresponding period to $52.9 million, which the company attributed to "reduced completed inventory and softer Victorian market conditions".
"Residential property market conditions during the reporting period were adversely affected by weak consumer confidence which has subsisted for some time now," Peter Summers said.
"There are signs that some markets are starting to improve although this is taking time to translate into transactions."
"Consumer confidence remains the key issue and until there is a positive change, market conditions will continue to remain challenging."
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jchancellor-FAypfDUnLy

AVJennings awaits the return of confidence to house and land buyers

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I was driving in my car the other day when I heard a radio ad from a group that sells brand new property. The ad said the group only recommended properties in areas that have shown growth that is double that of Melbourne’s growth rate.
The statement got me thinking that just because you buy in a suburb that has had strong growth, it does not mean all property in that area will be a solid investment.   
Take a look at the properties below.
<img alt="armstrongfeb27one" height="326" width="470" src="/images/stories/2013/02/armstrongfeb27one.jpg">
These apartment blocks are located in the blue-chip suburb of Prahran. They each have a similar number of units and sit on similarly sized blocks of land. The only difference is that one was built in the 1960s and the other in 2000.   
Two-bedroom apartments in the 1960s block were selling for less than $200,000 in the year 2000. Conversely, the similarly sized apartments in the new block were fetching over $400,000. Investors who purchased one of the new apartments were paying a premium because they were new.
Today, the older apartments are worth about $550,000 and have been growing by about 10% each year relative to their purchase price. Conversely, the new ones have been growing by closer to 5% per annum and are worth approximately $600,000.   
So why has one grown by $350,000 and the other by $200,000 over the same time frame?  
It is because when you buy something brand new, it begins to depreciate - or lose value - the minute it is used.
A new car, for example, starts to depreciate as soon as you drive it out of the dealership.
Residential property is no different. The building itself, along with fittings and fixtures like floor coverings, stoves and hot water systems (to name but a few) loses value over time.
By contrast, the land underneath the building appreciates or increases in value. This is because buildings, fittings and fixtures are replaceable, while land is not.
The ATO recognises that depreciation is part of the cost of holding an investment property, along with expenses like municipal rates, insurance and interest on the loan. Hence, it allows you to claim depreciation as a tax deduction.
In the case of a building, depreciation is claimed over 40 years. For most fittings and fixtures, it’s claimed over five to ten years.
<hr class="system-pagebreak">
Depreciation can only be claimed for investment properties, not the family home. Claiming depreciation each year can help make it more affordable to hold onto your investment property, because it reduces your taxable income and therefore your tax bill. Basically, it’s a tool to help manage your cashflow.   
Whilst depreciation is often touted solely in terms of its benefits, much less is written about the potential downside.
For starters, depreciation is really just a fancy way of saying that your property is losing value. Even if you don’t claim depreciation as a tax deduction, the property is still losing value. And, because the objective of holding a residential investment property is to achieve long-term capital growth, a property that’s losing value can’t be considered a good investment.
Second, if you do choose to claim depreciation as a tax deduction it will increase the amount of capital gains tax when sold. The ATO allows you to depreciate the building by 2.5% per annum but this will reduce the cost base of the property for tax purposes.
For example, if you buy a property for $500,000, including costs, and claim $25,000 in building depreciation, the tax department will recalculate the cost base to $475,000. If you sell the property for $600,000 your capital gain will be $125,000 not $100,000 as many people believe.
Third, most depreciation occurs within the first five to 10 years after you purchase a brand new asset. If you buy a house or apartment when it’s brand new, or in the first few years afterwards, the building will be losing value.
There is a danger that the depreciation of the building may be greater than the appreciation of the land it sits on. This could result in a loss when you sell.  
Fortunately, there is a way you can minimise the downside of depreciation, yet still gain some of its benefits.
By selecting an investment property that is at least 10 years old, and holding it for a minimum of seven to 10 years (the length of a full property market cycle) you’ll still be able to claim some depreciation, whilst giving capital growth a chance to counteract its effects.  
When used wisely, depreciation can be a useful tool in managing cashflow and helping you hold the investment over the short term. But if you focus equally on the long-term outlook by choosing an asset with strong capital growth potential, you can maximise the value of your property and take much of the sting out of the depreciation tail.
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and homebuyers.
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marmstrong-sd3emVLPPb

Depreciation can be a useful property investment tool: Mark Armstrong

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Melbourne is set for a bumper weekend of auctions, with 917 to be held on Saturday - more than double the 445 to be held in Sydney on the same day.
It followed last weekend's first super Saturday for the 2013 selling season in Melbourne.
The combined auction clearance rate across Australian capital cities last week was 65.8% - a significant increase on the previous week's clearance rate of 58.9%.
There were almost 2,000 auctions across the capital city markets last week, up from 1,116 auctions the previous week.
Over the same week last year, there were 1,733 auctions and the clearance rate was much lower at 53.9 per cent. It is expected that there will be 1,943 auctions over the coming week.
In Melbourne last week, the clearance rate was recorded at an exceptionally strong 70.3%, up from 66.0% the previous week. There were 1,065 auctions held in Melbourne over the week.
At the same time last year, the auction clearance rate in Melbourne was recorded at a much lower 60.6%. So far this year, Melbourne’s clearance rate has been recorded above the 63% mark each week.
In Sydney, last week, there were 617 auctions held and the clearance rate was recorded at 68.1%, up from 63.2% the week prior. At the same time last year, there were 609 auctions held across Sydney and the clearance rate was recorded at a much lower 52.6%.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/02/upcomingauctionsfeb27.gif" title="Click to enlarge"><img src="/images/stories/2013/02/upcomingauctionsfeb27thumb.gif"></a>
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Another big auction weekend coming for Melbourne: RP Data

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Investors have taken root in a 'garden living' townhouse development in northern Melbourne which offers shared garden spaces and encourages a communal atmosphere.
Six of the 14 townhouses, located at 350 Clarke Street, Northcote, have sold since November last year. Construction of the development is planned for May.
The six three-bedroom properties sold for between $695,000 and $830,000 through Michael Robinson and Tayna Sanchez at Look Property Group.
Residents will be encouraged to harvest fresh produce - such as herbs and other edible plants - that will line shared corridors between the three-level townhouses. Residents will also have their own individual gardens, the price of which is included in property.
<img height="297" width="470" src="/images/stories/2013/02/northcotefeb27two.jpg" alt="northcotefeb27two">
The gardens are designed by Melbourne duo Justin Hutchinson and Shawn Ashkanasy, from Urban Commons, who aim to blend the community garden into everyday urban spaces.
Mr Ashkanasy says the edible gardens - replete with mint, sage, thyme and decorative plants - will bring the townhouse community together.
"It's using food as a focal point to meet their neighbours and connect with their neighbours," he said.
"Living in the city doesn't mean giving up the civilility between neighbours."
<img height="620" width="470" src="/images/stories/2013/02/northcotefeb27three.jpg" alt="northcotefeb27three">
A spokesman for the development says mix of buyers have been attracted to the townhouses, which span between 130 square metres and 167 square metres.
“The overwhelming majority of purchasers are local residents who recognise the value of the area; two purchasers are currently residing in Clarke Street," the spokesperson said.
"Generally, we have seen a younger demographic of purchaser, from young couples to young families, along with two investor sales.”
The complex will have its own café from roasting house Padre Coffee, which is known for nearby The Brunswick East Project.
Foodies will also appreciate hops vines on the north facing facade and olive trees for shade.
Mr Ashkanasy said that using the olive species is a way to add to the established Greek and Italian communities in the established suburb in Northcote. "We know that these things bring a lot of value to the cultural memories."
Body corporate will maintain the edible plants found in the shared 'corridor' spaces between townhouses, whereas residents with green thumbs will tend to their own edible plant walls.
Melbourne developer Kalex designed the townhouses, which was founded by Kyp Bosci ten years ago.
Prices for the remaining townhouses range from $695,000 to $825,000.
The design of the complex has scored 6.5 stars out of 10 in energy efficiency according to the National Construction Code of Australia (NCC). A rating of 6 out of 10 is the regulatory requirement for all new homes.
<img height="606" width="470" src="/images/stories/2013/02/northcotefeb27one.jpg" alt="northcotefeb27one">
Georgina Jeffries and Pip McCully at Designs of Wonder have fashioned the interiors featuring plenty of natural light, high ceilings and natural air flow.
Northcote’s median house price is currently $771,000 after falling from $828,500 during its peak in 2011, according to RP Data.
A three-bedroom terrace house on the same street sold for $841 000 in October 2012.
The median asking rent for a Northcote house is $520 with an indicative gross rental yield of 3.5%.
The median rent for a Northcote unit is $348, with an indicative gross rental yeidl of 3.9%.
<div>
A nearby three-bedroom villa on Clarke Street is being rented at $570 per week.
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cwong-GNQNgsRWoT

Edible gardens come with popular Clarke Street, Northcote apartment offering

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In a startling misreading of a situation, AAP reported recently that fly-in, fly-out workers were the reason homes were “selling for 10 times their real value” in mining towns.
AAP’s clanger was compounded by The Australian, which published the report verbatim.
At the end of 2013, when I hand out my annual awards, this piece will be a strong contender for "worst article of the year".
The spectacular claim that homes were selling for 10 times “their real value”, right at the top of the article, was not explained or justified later in the article.
It simply stated: “As locals miss out, the influx of temporary workers is creating housing shortages, driving up real estate prices.”
The article didn’t advise where this unprecedented phenomenon was occurring, nor how the conclusion was reached that sales at a particular price level were in fact 10 times their true value. If multiple sales are occurring at those prices, then that constitutes true value, regardless of disaffected locals claiming it’s 10 times what they’re really worth.
But the bigger mistake is the befuddled notion that workers who don’t live in a town, and therefore do not buy or rent there, can somehow be responsible for local prices rising. The impact of extensive use of FIFO workers is the opposite.
If the federal government banned the use of FIFO labour, it would cause rents and prices to rise because it would mean everyone working on a project needed to live locally. If people feel mining town prices are 10 times higher than they should be, how would they feel about prices being 15 or 20 times higher?
The use of FIFO workers actually removes pressure on local rents and prices. The workers fly in or drive in for their shift, stay in temporary workers accommodation provided by the mining company and head home when their shift is done.
There are all kinds of negative impacts of this – and this is what the recent federal inquiry looked at – but rising rents and prices is not among them.
Last week it was announced that BMA (the BHP-Mitsubishi Alliance) planned to have 100% FIFO workers on two new mines in Queensland’s Bowen Basin. The Moranbah Airport, a key entry point for the FIFO trade, has just had a $46 million upgrade to cope with the extra traffic.
Decisions like this have all kinds of impacts on towns like <a target="_blank" href="/news">Moranbah</a>, but they don’t include pushing up property prices because none of the FIFO people live in the town. Moranbah rents and prices are falling right now, with residential vacancies up around 7%. In nearby Dysart, vacancies are approaching 15% and rental yields, previously above 10%, are now down around 5%.
BMA, having downsized its workforce in the area last year, is now planning to move to 100% FIFO workers. It will cause prices to drop, not rise.
All of this creates a new phenomenon for property investors: buying in the locations where FIFO workers live with their families and spend their above-average incomes, rather than in the locations where they work.
In Western Australia, a huge share of the workforce on iron ore mines comes out of the Perth region. In Queensland, FIFO workers are clustering in Mackay, Townsville, the Whitsundays and Hervey Bay.
Terry Ryder is the founder of <a target="_blank" href="https://hotspotting.com.au">hotspotting.com.au</a>
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FIFO workers responsible for housing price falls, not rises: Terry Ryder

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The first round of the Property Tycoon auction tipping has come and gone with very different results for the two Victorian era homes featured on Property Observer <a href="https://www.propertyobserver.com.au/news/victorian-beauties-part-of-auction-extravaganza/2013022159467" target="_blank">last week</a>.
Clayton Smith from Jellis Craig failed to gain any real momentum at the auction of 10 Erin Street, Richmond (pictured below).
<img alt="tippingfeb25one" src="/images/stories/2013/02/tippingfeb25one.jpg" width="470" height="354">
Only one bidder put up their hand before the property was passed in on a vendor bid of $2.4 million.
The bar was raised by a further $100,000 after the auction but the $2.5 million offer still fell well short of the vendor’s $2.75 million reserve.
In Sydney, Ben Collier from McGrath had an easier job on his hands when 44 Gordon Street, Paddington went under the hammer.
<img alt="tippingfeb25two" src="/images/stories/2013/02/tippingfeb25two.jpg" width="470" height="351">
After paying just under $2.4 million for the property eight years ago the vendor was a seller if the bidding exceeded $3 million.
When the bidding topped that by over 100,000 it was certain a sold sticker was going to appear on the board.
The property sold for $3.125 million.
The website, <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/" rel="nofollow" target="_blank">www.propertytycoon.com.au</a> allows punters to guess what they think properties will sell for at weekend auctions in Melbourne and Sydney.
This season <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow" target="_blank">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a>
The winner of the overall Property Tycoon competition will win $1,000.
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Richmond prestige fails to sells in Property Tycoon tipping's first week

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The official launch of the year in property sales has begun, with both Melbourne and Sydney recording some of the best auction clearance rates seen in years – leading some experts to believe the market is on the turnaround.
Property analysts say not only have auction clearance rates continued to exceed those of last year, but better results are starting to be seen across the board. While most of the market has been contained to prestige sales in Melbourne and lower-cost markets in Sydney, that trend is moving into other market segments.
“There are the first signs of a revival in the middle market in Melbourne,” says Australian Property Monitors chief economist Andrew Wilson.
“The auction activity has been skewed to the top market there and the bottom end in Sydney but we’re drifting into either end of the sector now.”
The latest figures from the Real Estate Institute of Victoria show the city recorded a massive 903 auctions with a 73% clearance rate, compared to 70% last weekend and 57% this weekend last year – the REIV pointed out it was the strongest result in over two years.
“There can be no doubt the improving trend that started last year has continued this year and it reflects improved consumer confidence,” chief executive Enzo Raimondo said in a statement.
APM’s own data shows Sydney recorded a clearance rate of 76%, up from 69.3% last week and 55% last year, with the organisation recording 316 reported auctions.
While SQM Research managing director Louis Christopher tells SmartCompany he believes the Sydney result is lower based on the fewer number of reported auctions, the results are nonetheless a positive sign.
However, he says the market is still fragmented, with “some areas doing quite well…and others where values are falling”.
Wilson says the results could be attributed to some other aspects of a strengthening economy, but says it’s more likely several interest rate cuts have finally had an impact.
“It’s an extraordinary weekend, really,” he says. “You can’t use any contingency to explain them away other than the fact this is a rising market.”
“The first couple of weeks of this year were quite good, but with low listings. This is a high listing weekend, and we’re seeing a rise in seller numbers in line with these strong clearance rates.”
Next week is expected to be another strong weekend in Melbourne, with nearly 1,000 auction slated. Wilson says the success of the past few weekends will bleed into the next few months.
“Its own success will build momentum, and now I think this becomes an issue for policymakers,” he says.
“Is it really a surprise we have a rising housing market with historically low interest rates? History tells us low interest rates will fuel activity, and we’re seeing that now.”
Wilson says the prestige market in Melbourne has historically been the saviour of the auction-hungry city, but that success is now bleeding into the mid-range market, a good sign the market in general is improving.
“We didn’t really see this momentum building last year. So it looks like buyers and sellers have just been waiting.”
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">Smart Company</a>.
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pmcstafford-pr9eMARWoN

Bumper weekend auctions record highest clearance results in two years

<html><body>Australian Property Monitors (APM) has released a list of results from 349 auctions in Melbourne for the weekend of February 25. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Melbourne auction results

<html><body>Australian Property Monitors (APM) has released a list of results from auctions in Sydney for the weekend of February 23. The clearance rate was 76.2%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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