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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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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lschlesinger-FZcF9M3vE6

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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mopie-oqKqoZWZ7D

Why property investing is a way to build great wealth

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There are only three days left for NSW property investors or non-first-home buyers to take advantage of the NSW government’s stamp duty exemption for new homes, and developer Tripod Property Group has rushed its new Zetland development Link to market, hoping to generate a few sales before the June 30 deadline.
<img src="/images/stories/2012/06/link1.jpg">
The south-Sydney Turner + Associates-designed development launched over the weekend. Three contracts were exchanged over the weekend, and marketing agency Colliers says there was a lot of interest.
The development is planned to include 31 one-bedroom apartments (18 with studies) with an average size of between 61 and 65 square metres, which will start from $490,000. The five two-bedroom apartments, with an average size of 90 square metres, start from $681,000, and the 36 two-bedroom apartments with studies start from $686,000 and average about 95 square metres.
<img src="/images/stories/2012/06/link3.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. First-home buyers would probably be wise to wait until October to purchase if they are willing to risk missing out on their first choice of apartments, but upgraders and investors could miss out on a stamp duty savings of up to $22,490 if they don't purchase by July 1.
<img src="/images/stories/2012/06/link2.jpg">
The 11,366-square-metre site will comprise 72 apartments across two buildings and will include 2,000 square metres of landscape gardens.
“This will be planted on top of a colonnade of shops, retail services and dining options,” says Dan Szwaj from Turner + Associates.
<img src="/images/stories/2012/06/link4.jpg">
The buildings are designed with splayed walls, articulated blades and vertical fins to create a sense of movement. Bold colours are used throughout internal and external spaces.
Every apartment comes with a car space, and strata fees are expected to be low, around $800 for one-bedrooms and $1,000 for two-bedrooms per quarter.
<img src="/images/stories/2012/06/link5.jpg">
The median unit price in Zetland, less than five kilometres from Sydney CBD, is $561,000, according to RP Data, and the median price fell 3.3% last year.
“Over the past decade Zetland has becoming increasingly popular as a residential address, particularly for young highly skilled knowledge workers who are attracted by the cafe lifestyle of Danks Street,” said Ian Bennett of Colliers International.
“Fortunately Link is located outside the high-density Green Square urban renewal zone, so residents will be able to take advantage of all the facilities at Green Square yet still enjoy space, privacy and peace.”
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Zetland development Link launches, with June 30 NSW property investor deadline days away 

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Prices for some apartments in Vicland’s Southbank development, Habitat, have been cut by $30,000.
Motion Property is selling four two-bedroom apartments, which now start at $530,000.
Until June 30, first-home buyers who buy a property under $600,000 <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">will be entitled to a $13,000 bonus from the Victorian governmnent. </a>From July 1 this year, first-home buyers will be entitled to a 20% reduction in stamp duty on homes under $600,000. For a home costing $600,000, this equates to a stamp duty savings of $6,214, less than half what a first-home buyer would secure from the first-home bonus.
<img src="/images/stories/2012/06/habitat.jpg">
The building is the work of Melbourne architectural firm RotheLowman, which instead of individual balconies for apartments designed communal, three-storey vertical gardens with built-in furniture on each level. This was to avoid the noise from the neighbouring elevated freeway.
The building is currently under construction on Clarke Street, and the roof is expected to include landscaping, a cinema and dining spaces.
The project is billed as environmentally friendly, even including a bike workshop on the bottom floor.
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Southbank development Habitat slashes two-bedroom prices by $30,000, with first-home buyer deadline days away

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For more than five decades the humourist Barry Humphries has tracked the trends in Australia without dutiful reference to any census data.
Unencumbered by the niceties required of the Bernard Salts and George Megalogenises, his observations emerge every so often in his stage shows.
Some are subtle but mostly shocking.
His latest show starts with leaf blower over-usage, then Marrickville, our man in Ecuador, an apology to Today Tonight, fanta pants, estate agents selling Glen Iris to Asian buyers, the downward dog yoga move, beige Canberra, kaftans and all those celebrity chefs like Matt Moran and Donna Hay.
All wrapped within Humphries' unparalleled audience name recall and sharp repartee.
The weekend was the opening shows for his farewell tour, Eat Pray, Laugh.
It was in the nation's capital Canberra – "the gateway to Queanbeyan" – and with a hint of Bollywood Dame Edna Everage was in scintillating form, at one point almost apologising if her pheromones were bothering the nearest of her audience.
There was Elaine from Gundagai. In a "dead end" bank telling job. Living in a two-storey brick house.
"Impossible dream for you," Dame Edna advised the paupers in the cheap seats at the rear of the theatre.
Bernadette from Kambah, one of the few Canberra suburbs not designed according to the neighbourhood philosophy, only had her single-storey brick house.
"Don’t gloat, Elaine," Dame Edna ruled.
Spelling Kambah's final letter left Dame Edna in little doubt as to Bernadette's religion.
"Certainly not C of E," she suggested, before going on to suggest Kambah would be "Aboriginal for meeting of the waters".
"That's what they all mean," she suggested to the groans of the audience, who'd either heard it before or weren't happy with the tone directed towards the Ngambri people.
Dame Edna wasn't convinced that Bernadette's current bedroom renovation ought to be painted in the hog bristle colour.
"It's not likely to be conducive to a good night's sleep," Dame Edna opined.
And despite the mauling – all victims were soon up on stage – on team Edna, participants on Dame Edna's "journey."
Spoiler alert.
Sir Les Patterson, in casual colourful shirt and shorts and sombrero, and just back from the G20 in Mexico, had opened the Sunday matinee show.
The bulge in his trouser pocket comprised Cabcharge dockets.
Either the advance team of the US ambassador aren't that thorough, or Jeff Bleich is a masochist. Bliech was in the middle of the front row of yesterday's performance, so right in the spittle firing line of the diplomat extraordinaire Sir Les Patterson.
The hospitable Sir Les soon had, without much awkward hesitation, Jeff and wife Becky onstage – guests at his suburban backyard barbecue.
Bleich looked a tad awkward in tieless suit, but was soon in charge of turning the meat.
"You seppos call them meatballs, we call them rissoles," Sir Les said.
Given Sir Les has gotten worse over the years, it was very near a degrading experience – but the Bleich couple were good sports.
When Sir Les asked Becky to get down on her knees to scratch his mossie bite, the quick-witted Jeff gave his wife the long barbie tongs to allow her to keep some distance.
However nothing could have prepared the couple for the barbecue blow-in guest, Father Gerard Patterson, the rarely sighted appalling paedophile brother of Sir Les.
Father Patterson yielded just a little information from Jeff – he went to non-denominational Massachusetts college and had never toyed with the priesthood.
By show's end, Jeff was the first to get the gladioli from Dame Edna – which was promptly passed onto his wife. And they participated in the standing ovation.
It all seemed rather cosy, especially as the embassy had quickly tweeted their boss's starring theatrical role.
Bumping into Barry Humphries as he was catching his plane out of Canberra, it was all denied.
A set-up, I asked, with the US ambassador?
"Oh no," Humphries affirmed.
"Was he the ambassador?" he enquired back, barely concealing his delight.
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jchancellor-FAypfDUnLy

Dame Edna Everage advises against hog bristle colour scheme even in beige old Canberra

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A double oceanfront block on Collaroy Beach (pictured below) – complete with a rare tennis court offering on Sydney’s northern beaches – was the weekend’s highest seller at $8.7 million.
{yoogallery src=[images/stories/2012/06/june16collaroy]}
It was offered for the first time in five decades.
It was the home of the late lawyer William Michie, of the law firm Michie and Shahadie.
The <a href="https://www.maxwalls.com/buying/search/detail.aspx?id=ID116&amp;wlid=a380d6a6-5c0c-41ef-ba58-fea99d7a8e5a">five-bedroom, four-bathroom house</a> that sits on a 1,365-square-metre Seaview Parade holding had come with initial $10 million expectations.
Weekend auction clearance rates in both Sydney and Melbourne both stood at 56%, according to APM (Sydney) and REIV (Melbourne).
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Double oceanfront $8.7 million block on Collaroy Beach weekend’s top seller

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Well, there is good news, but apparently, we’re still too gloomy to enjoy it.
The official stats show a healthy economy; housing sentiment is up and property, according to CommSec, is back in favour.  Overall, Aussie consumers are more optimistic.
But a mindset of misery lingers, and we aren’t quite willing to let go of it.
The Westpac/Melbourne Institute index of consumer sentiment rose, albeit minimally, by 0.3% in June, though remains down almost 6% on a year ago.
Banks were nominated as the best place to stash your cash by 33% of consumers, but the next best, and the biggest mover, was real estate – one-quarter of respondents (up from 18%) consider it the wisest place to put savings.
The jump in sentiment is, as CommSec economist Craig James reports, good news for our beleaguered housing market.
Sales are starting to lift, but consumers really need to follow through.  Why are we so reticent?
Perhaps our collective outlook is a backlash from the incessant negativity of politics or the chatter of an imploding Europe.
Or perhaps we need a bit of a shake up and an<a href="https://www.propertyobserver.com.au/trends/australias-prudent-mindset-comes-at-a-cost-with-little-established-house-price-growth-for-a-decade/2012061955193"> attitude adjustment that melds with the reality of a changing world. </a>
Jog and live longer 
I always read these too, don’t you?  Spotted in the Fin Review – a heart study in Copenhagen has found that slow and steady really does win the race.
To be a winner, you have to jog slowly, moderately if you must, and regularly – 60 to 150 minutes max per week, over two or three sessions.
The study of 20,000 participants started in 1976 and has found that regular joggers will improve their longevity by 6.2 years for men and 5.6 years for women.   Apparently this helps with happiness and wellbeing too.  I’m on it!
Poll
Last week’s MatusikPulse poll asked:  What you think is likely to influence the market over the next 12 months.  Here’s how you responded:
Media:  23%
Federal election:  22%
World economic outlook:  19%
Interest rates/finance availability:  15%
Local economy:  10%
Property valuations:  7%
Amount of resale stock for sale:  4%
So, how’s that for irony?  The tangibles – our local economy, property valuations, stock on the market, and even interest rates and availability of finance are perceived to have little influence on the market.
Yet the media and the seemingly interminable wait for a federal election do.  That says a lot about the influence of negative reporting in my book.  Though in terms of the federal election, just bring it on – puhleeze!
As to world economic outlook, let’s look at it this way: the economies of Greece, Ireland and Spain combined are less than that of Florida.  The perception that the world will come tumbling down, and us with it, due to strife in Greece or Spain, for example, has more to do with the desperate search for a headline than anything else.
Interest rates are an issue, and finance is harder to get.  But really, we may just have to get over our obsession with every little percentage movement – if you are not financially sound enough to get a loan at, say, 7%, you’re not going to get one at 6% either.
But guess what?  The forecast for Australia’s growth next year is 3.4% (up from 3% this year); Britain 1.7%, Japan 1.5%, U.S. 2.3%, and Europe 0.7%.  The growth projections are less than seen in the past, but still growth never-the-less – and we’re on top of the heap.
Confidence is what is needed.
<a href="https://www.surveymonkey.com/s/ImpactAffordability">This week’s poll question</a> asks your opinion on what will have the greatest impact on new housing affordability.  Please take just a few seconds to give us your answer.  Results next Saturday.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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