Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

&nbsp;

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Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

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A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

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"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

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Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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?

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

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

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Harry Triguboff’s Meriton Group has warned that the end of full stamp duty concessions on Saturday for off-the-plan purchases will create a sales vacuum
The Meriton Group, the biggest builder of new apartments in Sydney, has also expressed a lesser concern that first-home buyers will be put off buying off-the-plan apartments until the first-home owners grant doubles to $15,000 (for new home purchases only) on October 1.
James Sialepis, national director of sales at Meriton, says first-home buyers make up only a small percentage of its off-the-plan sales.
Instead, he is more concerned about the elimination of the full stamp duty concessions for investors, which he says “will have a far greater impact on development activity”.
From July 1 investors and non-first home buyers will receive a $5,000 handout from the NSW government for off-the-plan purchase priced under $650,000 as opposed to up to $22,490 under the previous full stamp duty concession for off-the-plan purchases valued up to $600,000.
“It will take time for investors to adjust to paying full stamp duty again, which could have ramifications for those developers, unlike Meriton, who require pre-sales in order to finance construction,” says Sialepis.
But, he says, being dependant on first-home buyers to secure pre-sales would seem naive, especially considering the financial hurdles placed on them by the banks.
CBRE managing director David Milton expects a return to a more “normal” sales environment.
David Milton says about 30% of the record 360 sales in Sydney projects being marketed by CBRE over June were for apartments priced above $600,000 - meaning buyers were not eligible for stamp duty concessions.
He says a major shortage of property in Sydney is driving sales and adds that there has been too much of a focus on first-home buyers, which accounted for around 10% of off-the-plan CBRE sales in June.
He expects more normality to return to the market now, saying before the focus was on “what you can get for under $600,000”.
“Buyers will now be more objective about their purchasing decisions more focused on buying what they want. There are a lot of owner-occupier buying two-bed apartments.
“There’s an enormous shortage of stock in Sydney that is driving the market.
“People are buying off the plan because they like apartment living,” Milton says.
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End of NSW stamp duty concessions will create a short-term sales vacuum: Meriton

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Off-the-plan buyers have rushed to exchange contracts at Crown’s V apartment tower in Parramatta over the weekend and take advantage of up to $22,490 in stamp duty concessions.
The home builders’ bonus, which offered full stamp duty concessions for buyers of property up to $600,000, ended on June 30. From July 1, non-first-home buyers and investors received a $5,000 grant for buying off the plan up to $650,000.
Haig Conolly says 21 apartments were sold over the weekend in the $300 million V project, which will be the tallest residential tower in Parramatta when completed in 2014.
Crown had lawyers on site on Saturday so that buyers could exchange contracts before the expiry of the full stamp duty concession.
Conolly says it ended up being a late night.
CBRE managing director David Milton predicted 50 off-the-plan sales over its various projects ahead of the weekend and told Property Observer it managed just under that figure.
Milton says there have been about 360 sales during the month of June, making it the strongest June on record. Not all were under the $600,000 threshold, indicating off-the-plan demand should remain strong.
<img src="/images/stories/2012/05/harbourmill1.jpg">
Milton says the two strongest-selling projects were the Harbour Mill project (pictured above and below) in Pyrmont and the last stage of at Macquarie Central Apartments in Macquarie Park.
<img src="/images/stories/2012/05/harbourmill10.jpg">
Brand-new apartments in Harbour Mill, which incorporates Pyrmont's historic Edwin Davey &amp; Sons Flour Mill, start from $475,000 with a car space. The project has been designed by Grimshaw Architects.
Milton says 130 out of the 141 apartments released in the last stage of Macquarie Central have been sold, with prices starting from the mid $500,000s for a one bedder plus study to $650,000 to $700,000 for two-bedroom apartments.
<img src="/images/stories/2012/06/v1.jpg">
<a href="https://www.propertyobserver.com.au/developments/stamp-duty-handout-expiry-helps-sell-out-first-stage-of-v-development-in-parramatta/2012061855159" target="_blank">V (pictured above and below) will feature 466 luxury apartments</a>, a resort-style hotel with pool, gym and conference facilities, as well as office and retail space and is due for completion in 2014.
<img src="/images/stories/2012/06/v2.jpg">
The project features 50 studios (from 40 square metres) priced from $350,000; 70 one-bed-plus-study apartments (from 50 square metres) from $399,000; 260 two-bedroom apartments, which include two studies, (from 80 square metres) from $500,000; and 50 three-bedroom units (from 100 square metres) from $600,000.
<img src="/images/stories/2012/06/v3.jpg">
The $300 million “vertical village” was officially launched on June 18 with a display suite opening.
The doubling of the first-home owners’ grant to $15,000 for new home purchases kicks in on October 1, with the current $7,000 bonus ending for those buying established dwellings.
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June 30 buyers took advantage of stamp duty concessions, boosting NSW off-the-plan sales for Crown V

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There was a patchy result for auction tipping competition Property Tycoon auctions this week, as three out of five properties sold in both Melbourne and Sydney.
For those who want to have a harmless punt, there's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
The result at 64 Rosedale Road, Glen Iris (pictured below), shows the inner-eastern Melbourne market is well supported, as three bidders contested the auction.
<img src="/images/stories/2012/06/rosedale.jpg">
After being quoted at $1 million to $1.1 million by James Redfern at Marshall White, the property was announced on the market at $1.15 million before selling under the hammer for $1,226,000. This price was almost $100,000 more than the average tip.
It was a different story for 56 Bland Street, Ashfield (pictured below), in Sydney’s inner west, where it sold for $100,000 below the average tip.
<img src="/images/stories/2012/06/bland.jpg">
Agent Tony Andreacchio from Raine and Horne was spot on when he quoted 56 Bland Street, Ashfield, at $1.35 million to $1.45 million, as the property sold on Saturday for $1.42 million.
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Patchy result for property auction tipping competition

<html><body>Australian Property Monitors (APM) has released a list of results from 281 auctions in Sydney for the weekend of June 30. The clearance rate was 54.8%. <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>

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APM's 281 Sydney auction results show 54.8% clearance rate

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Lend Lease’s timber development Forté in Docklands is gaining height at a rapid pace in the latest update to our photographic survey of the site.
<img src="/images/stories/2012/06/fortejune1.jpg">
Work on the project began four weeks ago, and the development is already taking form.
Unveiled in May, the building is due to be the world’s tallest wooden residential building.
It appears to have started on parts of its fourth storey. It was at level one when the first photos were taken. Four weeks later it’s now getting closer to its eventual height of 32 metres.
<img src="/images/stories/2012/06/fortejune4.jpg">The $11 million building will be Australia’s first timber high-rise building. Set on an elevated concrete podium, the building will rise to 10 levels and will be built with prefabricated wooden panels made from cross-laminated timber and will feature 23 apartments.
Site work commenced in February with a targeted completion date of October – quicker than it takes to build some single-family houses.
<img src="/images/stories/2012/06/fortesite3.jpg">Forté's progress as of June 8
<img src="/images/stories/2012/06/fortejune3.jpg">
Forté's progress as of June 29
{module Would you buy an apartment in a timber building?} 
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Lend Lease’s Forté, set to be world’s tallest timber high rise, towering quickly

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The buyers of units in Gold Coast’s troubled high-rise development Oracle have been knocked back in their second bid to escape contracts.
They had been trying to exit their contracts with South Sky Investments Ltd to buy the units, arguing that the change of letting managers and name of the development constituted a breach of contract.
The appeal by six buyers against a previous ruling in the Supreme Court was dismissed by Court of Appeal Justice Margaret McMurdo.
They originally purchased units in Tower 1 of the Oracle development but before settlement, Peppers Retreat, Resorts and Hotels was given letting rights to the tower and tower was to be renamed Peppers Broadbeach.
Supreme Court Justice John Muir said there was no evidence that the value of an apartment would fluctuate any more if the letting business was conducted by Peppers as opposed to any other manager.
The six buyers argued “the change from ‘The Oracle’ to ‘Peppers Broadbeach’ denotes a change from an independently recognisable (‘branded’) apartment tower to a hotel/resort in a chain of hotel/resorts,” McMurdo wrote in her ruling.
“There was no suggestion in the evidence … that The Oracle was a name which carried with it any particular attraction for purchasers or that the failure to use it exclusively or predominantly to identify Tower 1 would result in any detriment to the appellants.
“The mere fact that a development is given a name and that name is used in promotional and contractual documentation says little, if anything, about whether there is to be found in the contract an implied promise that the name will be used in respect of the completed building.”
Sales in the $700 million development have picked up recently, led by interest from local buyers. Gold Coast residents have bought $20 million worth of the 505 apartments.
The development has been in the hands of receivers KordaMentha since December 2010 after the Nikiforides family's Niecon business ran into trouble when a financier withdrew from the project.
The appeal was dismissed with the appellants paying all costs.
The appellants were John Maclain Gough and Norma Patricia Groves; Derick Brisley and Debbie Brisley; Jeffrey Aiden Wicks and Julie Kathryn Wicks; Patricia Gaye Ryan; Vicki Anne Taylor and Jennifer May Ferguson; and John Clifton Parsons and Dorothy Anne Parsons.
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Buyers of Gold Coast’s Oracle not allowed to escape contracts over name change

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16/187 Cleveland Street, Redfern, NSW, 2016
<img src="/images/stories/2012/06/cleveland.jpg">
Within walking distance of Central Station and Sydney CBD, this recently renovated two-bedroom apartment is currently tenanted at $550 per week, and the tenant is on an expired lease. Listing agent Braden Walters from True Property says the unit could reasonably be expected to fetch $570 a week in rent. The property is also within walking distance of Surry Hills, UTS and the University of Sydney. 
Walters <a target="_blank" href="https://www.trueproperty.com.au/411887/">is marketing the property</a> with price hopes of $500,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.7% at its current rent, above the indicative gross rental yield for Redfern units of 4.8%, according to RP Data. At $570 per week it would secure an investor a gross rental yield of $5.9%. 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 $13,000 and over five years to be $43,000.
The median unit price in Redfern rose 1.1% in the past year and 31.9% in the past five years, according to RP Data.
The property will go to auction on Saturday, June 30 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Redfern, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see page 2.
<hr class="system-pagebreak">
3/18 The Crescent, Highett, VIC, 3190
<img width="470" src="/images/stories/2012/06/thecrescent.jpg">
This three-bedroom house in Highett has a long-term tenant paying $400 a week who would be keen to stay on. The property includes a standalone garage and is at the end of a quiet crescent.
Listing agent Christian Hegarty of Buxton <a href="https://www.ljhooker.com.au/F87GQH" target="_blank">is marketing the property </a>with price hopes of $420,000 plus, and if it sells for $420,000 that would secure an investor a gross rental yield of 5%, above the indicative gross rental yield of 3.3% for Highett houses, 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.
The median house price in Highett  fell 6.7% in the past year, according to RP Data.
<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 $11,000 and over five years to be $39,000.
The property will be open for inspection Saturday, June 30 at 12.3opm and will go to auction Saturday, July 14 at 1.30pm.
For more about prices and yields in <a target="_blank" href="/news">Highett, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 5.9% in Redfern

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Sydney’s Landmark Randwick development has had a surge in off-the-plan investor interest driven by the upcoming changes to stamp duty concessions.
David Gray of agency Mint360property says the weekend’s sales launch was the biggest rush to he’s ever seen in the east.
The NSW government’s home builders’ bonus, which provides stamp duty exemption for buyers of new property under $600,000, expires on July 1.
<img src="/images/stories/2012/06/mint1.jpg">
Mint360property marketer Arthur Perdis says almost all of the 70 groups that came to the launch put in an offer. He says 70% of the buyers were owner-occupiers.
Of the 42 one-bedroom apartments building, 32 sold on the day. All seven of the two-bedroom, one-level apartments sold. Eight of the 16 two-storey two-bedroom Skyhomes sold.
<img src="/images/stories/2012/06/mint2.jpg">
One-bedroom and one-bedroom plus study apartments cost $550,000 to $650,000, the most popular range.  Two-level two-bedroom apartments cost $700,000 to $800,000. And the Skyhomes cost $750,000 to $800,000.
Mint360property’s Diane Goncalves says buyers were driven by changes in stamp duty concessions. She says buyers saved up to $22,490 by buying this week instead of next.
Landmark Randwick is a 117 apartment low-rise residential development in Randwick by developer Zonie Property Group. The building is one kilometre from Coogee Beach and shopping centre The Spot.
The four-building site occupies 4,900 square metres over a three-street frontage on the eastern side of Avoca Street.
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Mint360 secures rush of fresh sales as Landmark Randwick launches

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Declining auction sales, falling private sales and lower clearance rates are three clear trends emerging in the Melbourne housing market, according to the Real Estate Institute of Victoria (REIV).
The trends have emerged as the REIV cautions that there will be no house price growth in Melbourne over the next few years.
In its  2012 State of the Victorian Property Market report the REIV calculates that there have been 6,925 auction sales in Melbourne up to the weekend of June 18, compared with 8,566 at the same time last year and 11,647 in 2010 – representing a 19% decline from the same period last year and 41% down on 2010.
Clearance rates over the last two years are also about 20% below historical levels.
REIV spokesperson Robert Larocca says the number of private sales is also declining.
But he cautions that these figures will be revised upwards as the institute gets more complete data from estate agents.
Click to enlarge
<a href="/images/stories/2012/06/reivjune27.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/06/reivjune27thumb.gif"></a>
Source: REIV, for the calendar year to June 18, 2012
Economics website macrobusiness.com.au points out that auction sales numbers are currently 21% below the five-year average while the clearance rate is 18% below the five-year average.
Macrobusiness.com.au calls the figures a “sobering assessment” of the Melbourne housing market.
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Melbourne auction sales down 19% on same time last year: REIV

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Everyone wants to earn the kind of money in their lifetime that will allow them to do the things they want to do and to retire with enough money to keep living the same lifestyle. 
The vast majority of people don’t earn their dream income through working for somebody else; in fact, most of the world’s richest people became that way through their own business ventures or by investing in property. Share trading is another way many people have achieved real wealth. 
Let’s look at these three ways to build wealth, finishing with my favourite ­– property. 
Shares
The great thing about shares is that, technically, you can start with almost any amount of money. However, in reality, to make serious gains you need to invest big to earn big. For 95% of us, that will mean taking out a loan to invest in a decent-sized portfolio. Some things to consider are: 
<ul>
<li>In most cases, you will need to outsource the management of your portfolio to a fund manager or stockbroker, which involves fees. I wouldn’t recommend going it alone if you are just starting out.</li>
<li>Share investing can be volatile, and no matter how good a company is, if the market falls, nearly everything falls with it. The majority of the nation’s superannuation funds have typically been placed in the share market and, following a crash, many 65-year-olds have found they can’t afford to retire as planned. </li>
<li>Shares can be de-valued at anytime, leaving you with no assets.</li>
<li>Shares are liquid and can be sold. </li>
</ul>
Business
Owning a business can be a great way to build wealth, certainly through making money along the way but, more significantly, when you sell it. The more profitable you can make your business and the more systems you have in place for running it, the greater chance you will have of maximising your sale price. If you’re thinking of starting your own business, or already have one in place, some of the things you need to consider are: 
<ul>
<li>It often takes many years to establish a business and, statistically, 80% of small businesses fail within their first five years.</li>
<li>Owning a business is hard work, and the hard work doesn’t end when you lock up at the end of the day. Even when you’re not working in the business you will find yourself thinking about it after hours. Interest-based businesses never close.</li>
<li>There are often a lot of fixed overheads and set-up costs, including premises, fixtures and staff. These overheads are often payable whether the business is open or not. In addition to this upfront injection of funds most businesses need a ‘buffer’ to get them through the slower times. This is particularly relevant for seasonal businesses like snow-gear rental. </li>
<li>If you take on staff you can end up spending more time managing them than you do the business itself. Managing people, with all the OHS and other worker rights and responsibilities that go along with it, in some ways is more complicated than ever. You must make it a priority to understand your HR responsibilities to your employees.</li>
<li>It’s important to have an exit strategy, including a succession plan. Will you pass on the business to a family member or sell it to an unknown third party?</li>
</ul>
 
Property
Property is often seen as an easy-to-understand investment because we all live in a home and therefore we all have reasonable knowledge of what is good real estate and what is not. A quick snapshot of investing in property includes: 
<ul>
<li>Well-chosen residential property is guaranteed to rise in the long term because of the basic fact that the land is in short supply and our population is increasing.</li>
<li>Tenancy and maintenance issues must be managed properly. Your property investing must be treated as seriously as you would any other business venture. </li>
<li>Property gives you more leverage than most other investments because banks often lend 80-100% of its value.</li>
<li>Property is a steadier investment and the rule of thumb with residential property is that it tends to rise by 7–10% per year over the long term.</li>
<li>Property leverages your time.  Property is one of the most passive investments you can buy, which is great if you value the limited time you have away from work.</li>
<li>Tenants will help pay the mortgage. It is important to keep your properties well maintained so that your tenants stay for longer.</li>
<li>Property will never be worth nothing – the land value alone will always increase. </li>
</ul>
If you read the annual BRW Rich List you will see that every year about 80% of people on that list for the most part made their money through property, or they hold their money in property. So why not follow their lead? 
I’ve been investing in property since a young age and over that time I’ve learned a lot, both through listening and doing. I’ve paid attention to property experts along the way and then I’ve taken action. I’ve made sure I completely understood what I was getting myself into – both the potential risks and the benefits. 
Education is the key to successful property investing. Read books, attend seminars, listen to the experts. Take all that knowledge on board, process it, and then go and buy. The longer you procrastinate, the more opportunities will pass you by. The way to make money in property is to choose wisely, then wait. The waiting is important. Of course you have to maintain your properties well and stay on top of any tenant issues, but the wealth has to be built over time. The longer you wait to jump into the market the longer it will take to build wealth. 
As with all investments, property rises and falls as other economic factors change. Property tends to rise for a number of years, fall slightly, flatten and then rise again. So the key with property investing is to have enough cashflow to support it in the short term – it will always rise in the long term. 
Melbourne is currently experiencing a flat period in the market, which means it is bound to rise again in the medium term. Investors take note: now is the perfect time to buy into the Melbourne residential property market. There are plenty of bargains to be had but they won’t last forever.
Property investing is a great way to build wealth.
Melissa Opie, aka “The Property Lady”, is  a multi-award-winning buyers’ advocate, bestselling author and managing director at <a target="_blank" href="https://www.kpi.net.au/">Keyhole Property Investments</a>.  The team at KPI act for investors and owner-occupiers Melbourne wide from $400,000 to $5,000,000. You can follow <a href="https://twitter.com/thepropertylady" target="_blank">“The Property Lady” on Twitter.</a>
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