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]

Joel Robinson

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

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

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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It’s a time-honoured property marketing technique: encourage vendors to sell during spring because their gardens are in full bloom, the weather is warmer and buyers are out in full force – emotionally responsive and ready to spend big to secure their dream properties. 
In reality, a spring marketing campaign could be a somewhat less lucrative endeavour. <del cite="mailto:Fiona" datetime="2012-09-11T12:24"></del>
Since the mid-1980s, the popularity of residential property as an investment vehicle, rather than simply a lifestyle vehicle, has grown significantly. 
Today, residential property is far more widely accepted and visible as an investment asset. <del cite="mailto:Fiona" datetime="2012-09-11T10:35"></del>
Investors don’t make purchasing decisions based on the same degree of emotion as home buyers. They buy based on personal financial considerations and an assessment of market conditions. This means they are no more likely to enter the market to buy during spring than at any other time. 
On the other side of the equation, home buyers are no more likely than investors to turn out in droves during spring. At this time of year, the market is interrupted with school holidays and major events like football grand finals and racing carnivals. Pre-occupied with family and social activities, the home buying public is less inclined to participate in the property market. 
In short, if you expect that investors and home buyers will be out in full force and waiting to secure your property simply because it’s spring, you could be in for a letdown.
Oversupply could subdue prices this spring 
With little on the short-term horizon to suggest a significant shift in demand from investors and home buyers, supply looms as the main catalyst for property price movements throughout the rest of 2012. 
Figures from the Real Estate Institute of Victoria (REIV) show there have been significantly fewer residential property transactions in 2012 than in previous years. There were 41,019 transactions across Melbourne between January 1 and September 3. This represents falls of 8%, 19% and 16% compared with the same period in 2011, 2010 and 2009 respectively. Preliminary data from the Real Estate Institute of Australia suggest similar trends in Sydney and Brisbane. 
At the same time, auction clearance rates have remained steady at 61% since 2011. This suggests vendors are deferring selling their properties in line with falling buyer demand. 
The pattern of diminishing property transactions suggests there could be a growing build-up of deferred sales. The decision to sell a property, whether it is motivated by personal need, personal preference, financial factors or a combination of the three, is something that can only be put off for so long. 
If vendors adhere to the market cliché that spring is the best time to sell, the resulting surge in supply this spring could be greater than the standard seasonal upswing. The effect of oversupply on what is already a fragile and patchy market could spark a fall in prices that would be difficult to arrest. 
The wrong kind of competition 
Vendors invest in marketing to draw attention to their properties in the hope that it will generate competition between buyers and increase the sale price. The combined effect of limited buyer demand and a surge in supply this spring would increase competition between vendors instead of buyers. This would reduce auction clearance rates, prolong marketing periods and ultimately, drive down prices. 
What are the alternatives? 
As a vendor, one of your primary considerations should be: “Will this time of year bring the most favourable price for my asset?” If the answer is no, and your individual circumstances mean you’re not under pressure to sell in the next three months, it may be worth considering deferring until a time when there are fewer properties available than is often the case in spring. 
Xavier Perronnet is a director of <a href="https://ipropertyplan.com.au/" target="_blank">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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xPerronnet-8mfxFYHVTQ

Residential property vendors expecting a big spring buyer turnout could be in for a letdown

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We like things big in Australia. Big homes, big cars, big meals, big characters – everything’s got to be larger than life.
Or does it?
Have you looked at new car sales lately? Fuel efficient, small to mid-size cars are driving out of the showrooms before they’ve even been loaded off the docks. Sushi restaurants and salad bars are elbowing McDonalds’ out of the way everywhere you look, and – well, Kerry Packer’s leading the TV ratings again. OK, some things never change – we still love our big characters.
In real estate, big homes have been on the nose for a few years. They’re a lot more expensive, and they cost a lot more to run and maintain. In 2011, only 1% of sales across Australia were for properties over $1 million, so big and expensive homes are a very small segment of the market.
On the other hand, apartments are more popular than ever before. The 2011 census confirmed they account for 14% of all dwellings, up from 11% in 2006. Apartments made better capital gains than houses over the past few years, and they’re becoming a lot more affordable, too.
But apartments – especially those in new developments – are changing. They’re getting cheaper because they’re getting smaller. There’s a strong trend towards higher quality fixtures and fittings too, adding substantial value for money compared to a decade ago.
Take a look at the developments near you, and I bet they’re mostly one or two-bedrooms, with the occasional three-bedder thrown in for good measure. There are one-bedroom apartments on offer in Brisbane that measure just 51 square metres – much smaller than the old standard of, say, 70 square metres including balconies – but still twice as big as the controversial 25- to 28-square-metre apartments being touted in New York at the moment.
Developers everywhere are responding to the market, and the market is telling them smaller is better; smaller sells. It’s a simple fact that smaller, cheaper apartments are selling off the plan a lot faster than bigger, more spacious, more expensive ones in the same developments. Some developers are even changing their designs mid-way through the off-the-plan sales period to increase the number of smaller apartments on offer.
Let’s think about the newest generation of apartment renters – Generation Y – because they’re the ones driving this trend. Notorious for not leaving home, they’re getting older and many have finally had the shove from mum and dad.
Gen Y isn’t into home ownership or picket fences – they place a lot more importance on living life for its experiences. And no surprise: they don’t spend a great deal of time at home. So they’re snapping up small, affordable apartments for rent in exciting inner-city suburbs, close to the action. If you’re investing in a hip suburb, Gen Y are your tenants.
Which is why the other big trend in apartment design is to separate the bedrooms as much as possible, allowing singles to live at opposite ends of a small apartment, crucially with a bathroom each. The design of an apartment will determine the sort of tenants it attracts, so developers are fine-tuning their products to make sure they appeal to the right rental demographic.
Apartments are becoming smaller, but they’re better designed and equipped, so tenants can more efficiently use the space the way they want to live. The bottom line is, they’re cheaper to buy and cheaper to rent – and can only grow in popularity with both investors and tenants.
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a target="_blank" href="https://www.matusikmissive.wordpress.com%20/" title="blocked::https://www.matusikmissive.wordpress.com /">Michael's blog</a>or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

Apartments are becoming smaller, cheaper and more popular, as Australians lose their appetite for big: Michael Matusik

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The time required to sell out a project is always critical. But along the way there will also be other milestones, which will include when and how a project is released to market.
For a major apartment development an important part of the marketing process, and possibly the central issue, is when and what apartment types are released for sale. In a project with say 250 apartments there will also be a wide diversity of apartments for sale with varied sizes, prices and configurations, and these will al influence the release program.
With small projects there is not this same diversity. While no two apartments are ever exactly the same, the marketing of a smaller project still needs to take into account how and when apartments are released for sale.
The marketing collateral may well have to address each of the apartments as “one-offs” to ensure that the sales path is supported with relevant information. When, for example, brochures are prepared, this is an opportunity to refine the creative content and show how different services and finishes are presented relevant to the scale of the project.
An essential goal is to ensure that one type of apartment is not sold out too soon or with a small project that one or two apartments are somehow seen as less than desirable because they take longer to sell. Apartment values and demand need to be managed across the project no matter how big or small. Demand, alongside detailed buyer feedback and sales rates, needs to be constantly monitored, discussed and where necessary the sales path adjusted.
In some examples this process can be very intense, for example during the first stage release of a new building, and in small buildings where release options might be limited, even more so.
In any project release there will be some highly desirable apartments that will always sell. This demand is hardly ever uniform and will vary with each project. A registrations-of-interest campaign might well indicate some valuable trends. This demand needs to be leveraged to the benefit of the entire project and in a small project capitalised upon during the early stages of marketing off the plan, ahead of construction. Because we are dealing with a small project there may well be an advantage and with changes that are easy to make across all apartments.
From the earliest stages of the marketing it is very desirable to maintain a detailed understanding of how different apartments are selling. Popular stock can if necessary be used to help encourage future sales. This is not suggested in an open-ended way, because in a small project sales volume will naturally be limited, but with planning the most popular apartments can play a critical part of the sales path and help to grow prices and encourage ongoing demand across the whole project.
One option would be to increase prices and hold some of the most popular apartments back to help make other stock more attractive to some buyers with more limited budgets. If the best (most popular) apartments in any project are sold and taken off the market during the early stages of the marketing, this can limit the ongoing appeal and flexibility of the project.
However time on the market must be carefully managed, as buyers will soon become sensitive to any apartments that are taking longer to sell than others, and when this happens to a number of apartments in a small building the entire sales path should be rigorously examined.
A final overview
My aim with these posts has been to talk about how a well-managed marketing campaign for a small project will help to unlock and sustain value. The market’s potential, timing and an insightful view of the target demographic are key factors.
But there is also a clear need to fully embrace and set priorities for the marketing and the sales path, because the highly efficient marketing tools that are now available will make a difference.
Budgets do not need to be excessive and it is important not to simply imitate what larger projects with their greater flexibility and resources might do. This is an area where experience and professional planning will help kick-start and then manage the best possible sales path. Which importantly gives all buyers what they need, and that is frequently highly focused support and information about the project. Above all small projects demand individual and well-managed marketing that can now leverage the best of online and traditional marketing.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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pchittenden-eLqUUC8TWW

Timing is critical when marketing smaller residential developments

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The real estate industry is one of six sectors of the economy set for “short fuse, big bang” changes as a result of the digital revolution over the next few years, according to a new report by Deloitte.
The results, contained in Deloitte’s Digital Disruption white paper, will surprise many in the industry given the dominance of digital media already.
Deloitte estimates that the rental, hiring and real estate services sector is only using 52% of its digital potential and is set for another 22% of “digital disruption” over the next two to three years.
While the time frame for this change is relatively short, the disruption is relatively small compared to other "short fuse, big bang" sectors dealing with challenges from the online sphere – notably retailing and media.
Deloitte estimates that the biggest disruptions will occur in information, media and telecommunications (40%) followed by the retail trade (37%) and finance and insurance services (37%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/deloitte1.gif"><img src="/images/stories/2012/09/deloitte1thumb.gif"></a>
Source: Deloitte
Other sectors included in the “short fuse, big bang” that flow into the real estate sector are retailing and the finance sector, with retailing set to undergo a dramatic change in the next 12 months, as can be seen on Deloitte’s Digital Disruption Map, which plots the impact of the digital revolution against the time taken for it to occur.
Companies that stand to experience significant digital disruption within the next three years are said to be on a "short fuse", while companies that can expect to record a 15% to 50% change in their metrics, such as mix of revenue channels or cost structures, will experience a "big bang".
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/deloitte2.gif"><img src="/images/stories/2012/09/deloitte2thumb.gif"></a>
According to Deloitte, real estate, human resources, IT and finance are industries with significant administrative overheads.
But these and other administrative operations are being transformed by digital changes.
“Administration is one instance in which digital disruption moves beyond business-unit costs and offers opportunities for enterprise-level cost savings,” says Deloitte.
While Deloitte points out that in the retailing space, assets that should be reviewed are "bricks and mortar" facilities like bookstores, department stores, travel agents and DVD rental outlets, it says the impact on real estate extends well beyond retail.
“The ability to relocate labour nationally and internationally is reshaping the office market, the improved ability to telework is affecting residential markets, and changes to supply chains are driving major changes for providers of logistics and warehousing facilities.
“While some business categories will remain fairly protected – such as food court operators or health care providers, which retain a strong link to physical locations – there will be many others that find digital disruption radically changes their real estate needs and investment strategies.
“For instance, document storage companies are likely to be divesting physical space but investing in electronic storage capabilities and processes,” says Deloitte.
In the white paper, Deloitte identifies three broad strategies real estate firms and others can implement to respond to the “short fuse, big bang” disruption.  These are:
<ul>
<li>Recalibrating cost structures – making changes in terms of people, supply chain and overheads to better control costs and compete with digitally-powered, low-cost newcomers</li>
<li>Replenishing revenue streams– building new sources of revenue across segments,  geographies and business models as legacy streams dry up in the wake of digital disruption</li>
<li>Reshaping corporate strategies – reconsidering assets, risk and corporate agility to position the organisation for success in the increasingly digital world.</li>
</ul>
The report was compiled using official data sources say and what Deloitte believes will happen down the track based on its in-depth experience, judgement and market knowledge.
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lschlesinger-FZcF9M3vE6

'Short fuse, big bang' digital change coming to real estate sector: Deloitte

<html><body>Australian Property Monitors (APM) has released a list of results from 277 auctions in Sydney for the weekend of September 8. The clearance rate was 60.6%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

po-LsXgBTHBmX

APM's 277 Sydney auction results show 60.6% clearance rate

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The off-the-plan sale of 74 apartments in the Pacific Bondi Beach has been credited as Sydney's most successful post-global financial crisis apartment sales marketing campaign.
<img src="/images/stories/2012/09/pacificbondi.jpg">
The sales, which included $1.9 million for a 70-square-metre one-bedroom apartment, grossed $164 million.
Some speculators secured apartments as a long-term property option given construction will not be completed until November 2015 at the earliest. Exisiting hotel bookings at the Swiss-Grand Resort &amp; Spa mean construction won't begin until mid-2013.
The Campbell Parade apartments – to be developed by Eduard Litver of the Capit.el Group and Allen Linz of Rebel Property Group, who paid $135 million in 2007 – were launched simultaneously on the weekend in Sydney and Hong Kong, with 80% of sales eventuating in Sydney. Buyers were queuing half an hour before sales office doors opened at 8am Saturday morning ready to put down a deposit. The project was also launched at CBRE’s Hong Kong office, and 14 apartments were sold to Hong Kong-based buyers, who were mostly expatriate Australians.
<img src="/images/stories/2012/09/bondipac1.jpg">
The cheapest sale started at $575,000 for a 35-square-metre studio, with prices peaking at $10.3 million for one of the seven penthouses.
Price per square sales ranged from about $15,000 to $45,000, according to CBRE agent Ben Stewart.
CBRE chairman Justin Brown told News Ltd and Fairfax Media he was negotiating with a local empty-nesters for the $15 million penthouse, with hopes to secure the sale this week.
<img src="/images/stories/2012/09/bondipac2.jpg">
"It will break the Bondi record for in excess of $50,000 per square metre," Brown says.
It is one of four lighthouse penthouses that remain for sale.
<img src="/images/stories/2012/09/bondipac3.jpg">
Co-agent Steven Chen of McGrath says there were 3,000-plus inquiries leading up to its launch.
Ceiling heights will typically range between 2.7 metres and 3.1 metres, although some lower floor ceilings in the refurbished Swiss Grand complex will be 2.4 metres.
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jchancellor-FAypfDUnLy

Pacific Bondi Beach buyers riding the property wave through to the 2015 tide 

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Most Melbourne agents are slightly underquoting price expectations before auction, according to a Property Observer analysis of 220 Melbourne property auction results.
It showed 77% of properties sold for above the highest price indicated by the agent at auctions between July and early September this year.
Properties that sold above indications went for an average of 5% above expectations.
Of the 169 properties that sold above expectations, 28 properties or 16% sold for more than 10% above the highest estimated price indications.
The survey doesn’t include properties that passed in and sold later.
The above-estimate sales trend was most prevalent in the $600,000 to $1 million price bracket, where 83% of properties sold above agent expectations.
In the sub-$600,000 price bracket, 68% of properties sold for more than the pre-auction highest price indicated.
In the $1 million-plus price bracket, 80% of properties sold for more than the pre-auction highest price indicated.
Of the 220 properties analysed, just one sold for less than the price bracket indicated before auction.
The most notworthy case in Property Observer's survey was a two-bedroom house in Northcote that sold for 21% above the price indicated before auction. The agent was quoting $600,000 to $660,000 for the house, which eventually sold for $801,000 after enthusiatic bidding.
A four-bedroom house in Collingwood sold for 21% above the price indicated before auction. The agent quoted $860,000 to $950,000 for the house which eventually sold for $1.15 million.
The only property to sell for less than the pre-auction price indicated was a two-bedroom unit in Essendon. The agent was quoting $460,000 to $500,000 for the unit, which eventually sold for $442,000.
The auction data and price indications from the surveys were taken from data published by buyers' agents Antony Bucello and Catherine Cashmore of the National Property Buyers group.
The property auctions attended by the duo were generally chosen as high investment grade properties.
The auctions attended represent those deemed “cream of the crop properties” by National Property Buyers.
Cashmore says although the practice of under quiting is unpopular, it is hard to police.
"Buyers get very upset when properties sell in excess of a quoted range and often call for increased legislation.
"However, it’s a near impossible task to attempt to regulate the real estate sales industry to quote fairly for both vendor and purchaser," Cashmore says.
She says that  according to the Estate Agents Act in Victoria, agents are required to write an estimate of likely sale price on the sales authority.
"This can either be a single price, or 10% price range. This range doesn’t have to be the vendors'asking price or in instances where the vendors' asking price is unknown, reflective thereof."
"If an agent advertises the property under the bottom number of the estimated price range it’s regarded as underquoting. However, the agent’s price quote is a conservative appraisal of what the property can easily and comfortably achieve, not a guesstimate of what buyers might pay in the heat of an auction, or for that matter, the vendor’s wish price.
"The key during an auction is to watch when the property goes on the market – if the campaign along with vendor expectation has been managed effectively, it shouldn't be far from the price quoted.  However, the end number reached via bidding is largely out of the auctioneer's control."
Underquoting properties is a punishable offence – in May real estate agent Dean Anthony Johnson had his licence suspended for two months and was fined $5,000 for underquoting.
At the time Consumer Affairs Victoria director Dr Claire Noone said the laws were there to protect consumers.
“Buying a home is usually the biggest financial outlay in a person’s lifetime and laws are in place to protect consumers from misleading advertising and underquoting,” Noone told Fairfax.
‘‘Licensed estate agents should be aware of their obligations under the Act and the Australian Consumer Law in relation to advertising properties.”
Consumer Affairs Victoria guidelines on price advertising and underquoting for real estate salespeople says underquoting the likely selling price of a property in breach of the Australian Consumer Law and the Estate Agents Act 1980.
“These Acts prohibit salespeople from making representations about property prices that are false or misleading, or are likely to mislead or deceive,” the guidelines say.
The guidelines list a number of situations that they deem to be underquoting:
“Underquoting occurs when a salesperson:
•             advertises or advises a prospective buyer that a property is available for sale at an amount that is less than the vendor’s asking price or auction reserve price
•             advertises or advises a prospective buyer of a price that is less than the salesperson’s current estimate of the likely selling price
•             advertises or continues to advertise a price that is less than a genuine offer or expression of interest by a prospective buyer that the vendor refused
•             gives an inaccurate appraisal of the current market price of a property.”
"Under the ACL individuals making false and misleading representations regarding the price of a property can be fined up to $220,000 while corporations can be fined $1.1 million."
Cashmore says agents who don't suggest a somewhat low figure risk scaring potential bidders away from auctions.
"Selling agent know that to run a successful auction means attracting as many buyers as possible. The more buyers prepared to put their hand up at auction the better the result."
"No agent is going to risk 'over cooking' a property by quoting too high. It will always be placed – at the very least – a 'conservative' level.
"Whilst, I’m in full agreement of fair legislation outlawing deceitful advertising, and agree that price quotes which vary between agencies can be a ‘wishy-washy’ guideline in purchasers' eyes, buyers should not be misled into believing further legislation will change the sales process to work in their favour."
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awalsh-7Ub9EypybQ

Melbourne bullish auction sales typically selling at 5% above upper end estimate

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The 94 apartments in the $440 million Pacific Bondi Beach development (pictured below) are being brought to market tomorrow, with some 30% expected to be sold to investors.
<img src="/images/stories/2012/09/pacificbondi.jpg">
Eight-foot timber veneer surfboards have been sent to VIP customers as part of the preliminary marketing. Much has been made of Ben Quigley, a lifeguard on Channel Ten's reality series Bondi Rescue, having registered his interest in buying an apartment. 
<img src="/images/stories/2012/09/bondipac1.jpg">
The developer is Capit.el Group's director Eduard Litver in partnership with Allen Linz of Rebel Property Group.
The residential, hotel and retail project has been designed by Andrew Andersons of PTW Architects. 
<img src="/images/stories/2012/09/bondipacad.jpg">
Pacific Bondi Beach will comprise 94 apartments, a 69-apartment hotel and a two-level retail and restaurant complex.
Buyers have a choice of units starting from beach pad studios of 35 to 44 square metres starting at $550,000.
<img src="/images/stories/2012/09/bondipac2.jpg">
The priciest on offer are the three-bedroom-plus-study lighthouse penthouses, which range in size from 152 to 282 square metres. There have been four registrations of interest for the lighthouse apartments which are expected to sell for between $8.5 million and $14 million.
Prices range from about $14,000 non-view to $30,000-plus a square metre. 
The developers Allen Linz and Eduard Litver, who were also responsible for another upmarket block, The Bondi, have engaged three interior designers: SJB, Koichi Takada and PTW.
"Everyone recognises that this is very unique almost an entire block of the beachfront," says Allen Linz.
"It won't happen again in our lifetimes."
Its forecast weekly rents for studios are estimated at $600 to $700 for the studios, one-bedroom apartments between $850 and $1,200 and two-bedroom apartments from $950 to $1600.
The selling agents are Ben Stewart at CBRE and the head of projects at McGrath, Steven Chen.
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Pacific Bondi Beach to test the tide 

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Lend Lease’s timber Docklands development Forté has topped out after just 16 weeks, making it the tallest timber residential building in the world.
Construction started in the first week of June, with levels rapidly added.
Windows and insulation are now being installed. Construction of the building is expected to be completed in mid-October.
The building is constructed from cross-laminated timber, which Lend Lease say has a structural strength similar to concrete and steel.
“Concrete and steel buildings are carbon intensive but timber, as well as being renewable, has the advantage of storing carbon. Timbers used are also sourced from certified sustainably managed forests,” says Lend Lease’s Murray Coleman.
“With the structure being built entirely from CLT, Forté will reduce CO2 equivalent emissions by more than 1,400 tonnes when compared to concrete and steel – the equivalent of removing 345 cars from our roads.”
<img src="/images/stories/2012/09/fortesept71.jpg">
There will be 23 apartments in the 32-metre, 10-storey building, priced from $430,000 to $795,000.
Construction of the building is meant to quieter, more efficient, faster and safer than construction with more traditional materials.
Property Observer visited the site, where work continued despite strong winds.
Lend Lease has started marketing for the campaign but is still in the registration of interest stage.
 
<img src="/images/stories/2012/06/fortesite3.jpg" alt="fortesite3" width="470" height="313">
Forté's progress as of June 8
 
<img src="/images/stories/2012/06/fortejune3.jpg" alt="fortejune3" width="470" height="313">
Forté's progress as of June 29
 
<img src="/images/stories/2012/07/july13forte/_mg_5006.jpg" alt="_mg_5006" width="470" height="313">
Forté's progress as of July 13
<img src="/images/stories/2012/08/forteaug173.jpg">
Forté's progress as of August 20
<img src="/images/stories/2012/09/fortesept7.jpg">
Forté's progress as of September 7
 
{module Would you buy an apartment in a timber building?}
 
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Docklands tower Forté now the tallest timber residential building in the world as it tops out at 10 storeys

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49 Mary Street, Grafton, NSW 2460
<img width="470" src="/images/stories/2012/09/maryst.jpg">
A recent renovation has brought this three-bedroom property new carpets, an upgraded kitchen, new paint and updated fixtures. The current tenants have been in residence for several years and are paying $260 a week on a lease that expires in October. Listing agent Angus McKimm of McKimm's Real Estate says the rent is "maybe a tad conservative", but it would not likely fetch much more. 
McKimm <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mckimms.com.au/6451613">is marketing the property</a> with price hopes of $200,000 plus, and if it sells for $200,000 it would secure an investor a gross rental yield of 6.8%, well above at the median gross rental yield for Grafton houses of 5.7%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000.
The median house price in Grafton fell 4% in the past year but rose 20% in the past five years, according to RP Data.
The property will be open for inspection Saturday, September 8 at 11am and will go to auction Saturday, October 6 at 11am.
For more information about prices and yields in <a href="/news">Grafton, see the RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
 
<hr class="system-pagebreak">
 
1/467 Boronia Road, Wantirna South, VIC, 3152
<img src="/images/stories/2012/09/boroniard.jpg">
Within walking distance of shops and transport, this three-bedroom house is tenanted at $1,369 per month until December 2012, and the tenant is keen to renew the lease. The brick-veneer house includes polished floorboards and air-conditioning. 
Ray White listing agent Sherryn McRobert<a target="_blank" href="https://www.raywhite.com/vic/wantirna-south/820064/"> is marketing the property</a> with price hopes of $320,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.1% at its current rent, well above the gross rental yield for Wantirna South houses of 3.9%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000.
The median house price in Wantirna South fell 3.6% in the past year but rose 39.5% in the past five years, according to RP Data.
The property will be open for inspection on Saturday, September 8 at 2pm and will go to auction on Saturday, September 22 at 2.30pm.
For more information about prices and yields in <a href="/news">Wantirna South, see the RP Data suburb page.</a>
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Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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Developments

New apartments

New townhouses

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