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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Meriton boss Harry Triguboff is seeking fresh Sydney residential development sites, as well as increasing output, as he’s noticed an uptick in local apartment buying interest.
After having about 70% of his market made up by Chinese investors, he told The Australian it’s now a 50-50 split with local buyers.
“It started before interest rates fell, due to rents going up and fixed [home loan] rates were already coming down,” he says.
Triguboff has noted a drop in building projects during the financial crisis had also resulted in pent-up demand.
"People who were sharing, at home or renting are feeling more secure [about buying] as rates are coming down.”
Triguboff says he has his eye set on sites in Green Square near the airport and Dee Why in Sydney’s northern beaches after spending $25 million on a site in Sydney’s North Ryde and a further $55 million in Chatswood on Sydney’s north shore.
His acquisitions could total $150 million.
“We will probably build 1,700 [apartments] a year now, it may get to 2,000, but I can’t see more than that.”
His investment push coincides with the recent interest rate cuts. Triguboff expects the Reserve Bank will cut the cash rate by a further 50 basis points over the next year but wants them to go further.
"No one thought the bank would cut 50 basis points.”
Meriton’s apartment rents have increased 5% over the past year, with some buildings performing better than others.
Despite wider residential apartment price decreases in Sydney, Meriton’s apartment prices have remained stable, according to The Australian.
In the Gold Coast however, Meriton’s apartment prices are down 20% from two years ago.
In Sydney, Meriton averages about $480,000 for a one-bedroom unit and $550,000 for a two-bedroom unit.
Triguboff says Meriton has been able to build more quickly to respond to demand with improved technology and mechanisation and some councils shifting to a more pro-development standpoint.
He foresees an increase in competition, sensing that large Chinese developers could take a footing in the Australia market.
Currently he says he faces little competition.
"So far, it’s only small developers, apart from Frasers."
 
 
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Harry Triguboff wants more Sydney sites as he anticipates Chinese developers could develop a presence 

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Who is the most important person to approve the design of your project?
Is it the draftsperson/architect who is designing them?  Or perhaps a town planner at thecouncil?  Or your lender?  Maybe you?  In my opinion, none of these.
I can’t tell you how many plans we look over and present to our builders for tendering.  Some come to us as DA approved sites, some also have the construction certificate issued – they are our favourites as all the fees and charges have been paid and we can start building immediately.
But most often we will find a development site and have to start from scratch designing the development.
We may use an architect to design the project depending on the location and type of dwellings we want to build. Or we will ask the builder’s in-house drafting department to prepare plans based on a standard builder’s design.
I often find that the stock-standard builder’s design works best because the builder has built it time and time again and they know how much it will cost and any issues with the design have been ironed out long ago.  We can usually make some small changes to the floor plan or façades to put our own stamp on it and make sure it’s different to what’s been built in the area very cost effectively. But every site is different, so it’s important that the design you use, is adapted correctly to the site.
One of my biggest issues as a project manager is when the architect or draftsperson has not bothered to go to the site.
Today I had one of my site managers phone me and the conversation went like this: ”Jo, did that @$##8 draftsperson even come to this site when they were working out their levels?” I said,” I don’t know, this site was DA approved before our client came to us to project mange it... What’s up?”
“Well, I doubt it,” he said, “as the plumber has just installed the drainage pits to the level on the plan and now we have to bring in tonnes of fill and retain this area to make the drainage work”.
You can only imagine my response.  Three hours later, we’d worked out a better solution at no additional cost to the client, but it took several discussions between me, the site manager, the engineer and the draftsman.  So that’s where my morning went. This could have been avoided if the draftsman had come to site to see in real life what was there.
As a standard practice, we have the construction manager of the builder we are using to oversee all our drawings and plans and make sure he is happy with them from a construction perspective before they are submitted to council.  This has made the construction phase a lot smoother.  Often a draftsman’s lack of understanding of the actual building process or the site can mean costly corrections when under construction.
So the most important person for me to check our plans is the construction manager. He is going to be the one standing on the site bringing the project to life, and if he hasn’t picked up an unforseen issue then I don’t know who would.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" title="Property Bloom" target="_blank">Property Bloom</a>, which manages property development.
 
 
 
 
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Why the construction manager is the most important person to a development

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Fresh works are proposed for the former Carlton United Brewery site on Swanston Street, Melbourne.
Grocon has announced plans for works to the former malt store and also to the bluestone brewery buildings on Bouverie Street.
The initial works comprise restoration, reconstruction and adaptation of heritage buildings, which have remained vacant for about 25 years.
<img src="/images/stories/cub4.jpg">
The proposal involves the redevelopment of the malt stores as restaurants and offices to an ARM Architecture design.
While it involves minor alterations to the exterior of the malt store building, it is also proposes to remove 18 of the 21 reinforced concrete malt tanks.
<img src="/images/stories/cub7.jpg">
The tanks have technical importance as an innovation of their time. They were also constructed by Australia’s most famous engineer, John Monash.
<img src="/images/stories/cub5.jpg">
Two of the three tanks are to be retained as meeting rooms within the office component of the development, and one will be retained in its original state.
<img src="/images/stories/cub2.jpg">
It is proposed to modify the bluestone facades to Bouverie Street to allow vehicle access to the future apartment tower to be located in the middle of the site.
The permit application is currently with Heritage Victoria.
<img src="/images/stories/cub8.jpg">
The project is to be delivered in two stages, the first over three years beginning in 2012, and will extend through to the completion of the main tower to be erected behind the malt store.
The second stage is expected to be delivered by 2020, but is dependent upon obtaining tenant commitment.
<img src="/images/stories/swanstonsq1.jpg">
The works will form part of the unfinished Swanston Square project (pictured above), which Grocon is currently marketing, with one-bedroom units starting at $366,000 through Colliers.
It was in late 1987, production at the Carlton plant ceased as the company concentrated its operations at the Abbotsford site.
Various proposals for the redevelopment of the site were developed, including building new headquarters for Elders-IXL, triggering demolition of most of the buildings on the site.
In 2011 the site on the corner of Victoria and Swanston Street previously occupied by the two-level extension to the malt house was redeveloped for the eight-level RMIT Centre for Innovation.
<img src="/images/stories/pixel.jpg">
The five-level <a href="https://www.propertyobserver.com.au/commercial/it-s-becoming-easier-to-be-green-as-more-embrace-sustainable-commercial-design/2011072150878">Pixel Building</a> (pictured above) was also constructed in 2011 on the corner of Queensbury Street and Swanston Street.
The use of the site as a brewery dates back to 1858, when Rosenberg and Co. established the North Melbourne Brewery at 24 Bouverie Street, according to the Lovell Chen heritage report prepared for the Grocon submission.
This brewery closed within a year but was reopened in 1864 by a new owner, John Bellman, who used Rosenberg’s buildings and plant but renamed the venture the Carlton Brewery.
<img src="/images/stories/cub3.jpg">
Bellman substantially expanded the complex, constructing additional buildings facing Bouverie Street.
<img src="/images/stories/cub1.jpg">
Despite his considerable outlay, however, Bellman’s company also failed and the brewery was sold by sheriff’s auction in 1865.
The new owners, Edward Latham and GM Milne, who engaged well-known brewer Alfred Terry to set up their plant, had more success with the business, which was renamed EG Latham &amp; Co and over the next 20 years both plant and buildings on the site were expanded as the company’s output increased. Additions to the complex, for example, included brick stables north of Ballarat Street and a large bluestone cellaring and warehouse building onto Victoria Street (1870). In 1872, the old Rosenberg plant and timber building were demolished, and Latham erected a new brick brew tower in this location.
The building on the corner of Ballarat Street and Bouverie Street was constructed as a malt store in 1883.
In 1882, the Melbourne Brewing and Malting Company was formed, with Latham as its managing director.
The company subsequently amalgamated with Alfred Terry’s West End Brewery in 1889, to form the Carlton and West End Breweries Limited.
The company underwent considerable expansion in 1890, with the purchase in 1890 of 5,500 square feet (511 square metres) of land on the corner of Bouverie Street and Victoria Street.
<img src="/images/stories/cub6.jpg">
New bluestone offices were constructed south of the existing Bouverie Street buildings.
The design in 1904-05 of Carlton Brewing Company’s new malt store and its layout and plant was said to have been ‘suggested’ by the company’s head brewer, Lieut.-Col. Ballinger.
The architects were Messers HV and A Champion, and the builders were Messers Baxter and Boyne.
The internal silos were erected by John Monash of the Monier Concrete Company, and the elevators were erected and installed by Robert Bodington, the well-known firm of flour milling and malting engineers.
The application is available for public view through the Heritage Victoria website, and public submissions on the proposed works can be made until May 23.
 
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Sir John Monash’s malt tanks set for removal under Grocon’s heritage CUB site redevelopment plans

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A $4,865,000 sale in Malvern stood out at weekend auctions, especially as the purchaser also took up the adjacent neighbouring block option to bring the total sale price to $7,131,510.
It was auctioned by veteran auctioneer Gerald Delany, having been listed by Kay &amp; Burton agents Michael Gibson and Matt Davis, who say it was bought as an intended residence.
{yoogallery src=[images/stories/may7malvern]}
The expansive corner allotment, of 2,057 square metres on the corner of Mayfield and Wilks avenues (pictured above), had been consolidated with three purchases beginning with $670,000 in 1989, then $435,000 in 1990 with the last block added at $1.31 million in 2003 for the now pool block.
It totalled a $2,415,000 cost.
It comes with a five-bedroom cottage with a floodlit north/south tennis court in established gardens. There were the three bidders, according to James Buyer Advocates attendee Adam Woledge.
Matt Davis said the highest bidder was entitled to first right of refusal on the pool block at a 7.5% discount on the rate per square metre for the previously auctioned two block offering.
The sale was the weekend’s highest sale, with the REIV reporting a 62% clearance rate compared with 58% last weekend and the same weekend last year.
“The decrease in interest rates announced earlier this week may help stimulate activity levels; however it is unlikely we will see any noticeable impact for another few weeks, as in addition to the rate cuts other economic indicators such as unemployment levels and consumer confidence will need to improve if we are to see an increase in activity and prices,” REIV chief Enzo Raimondo says.
There were 592 auctions reported to the REIV this weekend, with 368 selling and 224 being passed in, 131 of those on a vendor’s bid. Next week the REIV estimates 640 auctions will be conducted followed by 610 in a fortnight.
<a href="https://marketnews.com.au/2012/05/its-cool-today-especially-in-that-2m-to-3m-range/">Buyers’ agent Mal James says</a> the interest rate cut didn't seem to have the hoped-for effect of boosting activity in Melbourne's top end.
“Clearance rates were just 55% on the 33 million-dollar-plus auctions we attended in Melbourne's inner east and bayside areas.
“There were some strong results on well-priced quality homes, and our demand indicator showed a fairly healthy average of 1.6 bidders per auction.
“But there has definitely been a cooling of interest in the last week or so.
“There have been fewer buyers through opens, and agents are definitely glummer.
“It may be that buyers in this segment are focusing more on the bad economic news that triggered the interest rate cut, rather than the fact that money has become cheaper to borrow,” James says.
Sydney’s clearance rate was 60.5% from the 337 results reported to Australian Property Monitors.
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After adding the pool block, Malvern $7,131,510 sale stands out as Melbourne prestige market cools

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There was a lot of interest – but not many bids – at an Elsternwick auction over the weekend.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">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 agents were right about the interest in 21 Hopetoun Street, Elsternwick (pictured below) as, due to the rain, a huge crowd crammed into the living room to watch the auction.
<img src="/images/stories/hopetoun.jpg">
Unfortunately for the owner this interest did not translate into bids as the property passed in on a solitary bid for $1.4 million. But one bidder really wanted the property, and after a short negotiation the buyer upped their bid by just over $140,000 as the property sold for $1.541 million.
The recent trend for many vendors in Sydney has been to try and sell prior to auction, as low clearance rates means taking a property all the way through to auction can be risky.
However the vendors at 22 Rawson Street, Epping (pictured below) knew they had strong interest in their property and on Saturday this interest converted into multiple bidders. After being quoted at $1.2 million plus, the property sold for $1,312,000.
<img src="/images/stories/rawson.jpg">
Only two rounds to go in the autumn season of Property Tycoon, and the competition is heating up.
 
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Interest doesn’t translate into bids for Elsternwick auction tipping competition property

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Australian Property Monitors (APM) has released a list of results from 337 auctions in Sydney for the weekend of May 5. The clearance rate was 60.5%. <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.
 
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APM's 337 Sydney auction results showing a clearance rate of 60.5%

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 What is the formula for success? It is quite simple. Keep on making mistakes.
You may think that failure is the enemy of success, but it is not true. You can be discouraged by failure or you can learn from your mistakes. So go ahead and make as many as you can. Just try to ensure they don’t hurt anyone along the way.
J.K Rowling, the author of Harry Potter once said “You might never fail on the scale that I did. But it is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all - in which case, you fail by default.”
Your success in life as well as in work is actually built on your failures. They are the mechanism by which we learn, and they are the stepping stones that will get you to the place you want to be in the future. If you don't make mistakes (and learn by them) you will find it hard to succeed. To fail is to be human.
Achieving success is not something that happens overnight. You have to work hard at it; you have to have failed many times first, and you have to feel hungry and go through the bad times before it happens.
In Australia TPS (or Tall Poppy Syndrome) is a social phenomenon in which people of genuine merit are criticised because their achievements apparently elevate them above their peers. Sadly, in this lucky country cutting tall poppies it is almost a national sport.
It is too easy to give up on your dreams when you have failed many times. These failures might include a regrettable comment you made in the office, the day you forgot your wedding anniversary, or the black day that your business collapsed.
So what? Life goes on and you control your own destiny. No one else can do it for you.
People will criticise you along the way, and they will do their best to put you down. Some see failure as a weakness, when in fact it is strength. Ignore them and concentrate on your own dreams and not theirs.
“It is not the critic who counts; nor the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.” – Theodore Roosevelt.
And one final quote . . .
“You are the author of your own life. It's up to you to dream it, imagine it, sketch it, shape it, build it, go after it and make it happen. Then colour it in with bright, shining shades of joy and efforts that are yours and yours alone. No one else can know the dreams you dream or the strengths you have within you that will help you make those dreams come true. They are yours alone. And so is today."  –Author unknown
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
 
 
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The formula to success is to keep making mistakes

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Money doesn’t discriminate; it doesn’t care who you are or where you come from and it’s there for the making. 
No matter what you did yesterday, today begins anew and you have the same rights and opportunities as everyone else to become wealthy. Yet the sad reality is that the majority of Australians will never achieve financial freedom. 
On the other hand, a small group of Australian property investors are becoming very wealthy. In this, the first part of a two-part series, I begin exploring the common myths about money that hold many people back from achieving their financial goals. 
Myth #1: It takes money to make money 
Despite what some people believe, it doesn’t really take a lot of money to make money. 
Many Australians have untapped equity in their homes that they can use as seed capital for investments, while others will have to learn the discipline of saving to get some start-up capital. Then all they need to do is invest in high-growth investments such as residential real estate and use the magic of compounding leverage and time to grow their asset base. 
You don’t need a fortune to begin making your first million; you just need to commit to making a start and stick with it. 
Myth #2:  I don’t make enough money 
 Almost everyone makes enough money to become an investor. The truth is most people don’t have an income problem; they have a spending problem. 
Look at your current wage and ask yourself; how much am I likely to earn over my lifetime? For most of us, the answer will probably be more than a couple of million dollars. The problem is most of us spend as much as we earn. You’ve got to start living within your means, paying yourself first, saving a deposit for a property and investing in order to break your current pattern.
 
Myth #3: My job and superannuation will take care of my financial future
If you accept my definition of financial freedom as having enough passive income to finance the lifestyle you desire without having to work, you will never achieve this through your job or superannuation. Instead you will need to take control of your financial future by investing. 
Even if you try to save 5% or 10% of your income as many financial planners suggest, you’ll find it won’t give you a big enough nest egg to fund your retirement.
 
Myth #4: I’m not smart enough
In our country everybody has the ability and opportunity to become rich. Successful people come from different backgrounds and while some have university degrees, others have never finished high school. 
To reassure you that an education doesn’t equal a financial fortune, here are a few multi-millionaires who never graduated from college: Bill Gates (Microsoft), Michael Dell (Dell Computers) and Steve Jobs (Apple). The truth is you can do whatever you want; not being smart enough is just another excuse.
 
Myth #5: Investing is complicated
Developing your own financial freedom is only as complicated as you make it. Sure, gaining the knowledge to become financially independent is challenging; but many new things seem more difficult than they are until you develop an understanding of them. 
Investing is no different. 
Now it’s easier than ever before to learn the fundamentals of wealth creation, with limitless tools available in today’s high-tech, info-laden world. The key is to learn from the right people – those who’ve already achieved what you want to achieve. The process is also simplified when you select an investment niche such as residential property investment and develop specialist knowledge in that area. 
Myth #6: Investing is risky
The dictionary definition of “invest” is: “To commit (money or capital) in order to gain a financial return.” The word “risk” doesn’t even get a look in. 
However, many people speculate when they think they are investing – they buy a property in a secondary location or off the plan “hoping” it will increase in value. Speculation is risky. 
On the other hand, finding a property with an element of scarcity so it will always be in strong demand, in an area that has always outperformed the averages and buying it below its intrinsic value, is a proven investment strategy that minimises your risk. 
Myth #7: You have to know how to time the investment markets
It’s often said that timing is everything when investing, but that’s not really the case. 
Sure timing matters - you don’t want to buy property at the peak of the boom, but successful investors find that timing isn’t really that important. Have you noticed how some investors do well in good times and do just as well in bad times, while others do poorly in good times and even worse in bad times? 
The truth is successful investors know how to create wealth at any point in the property cycle while unsuccessful investors manage to lose money at the same stages of the cycle. This suggests to me that it's not our external world that determines whether we make money; it's our mindset.
 
Next week, I’m going to share another eight wealth myths that tend to hold back ordinary Australians from reaching financial freedom. 
The good news is that as you become aware of these myths, you can do things differently. You can choose to change your beliefs and produce outrageous results and reach every goal you set.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
 
 
 
 
 
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Seven wealth myths that hold you back: Michael Yardney

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G7, 199 Pyrmont Street, Pyrmont, NSW, 2009
<img src="/images/stories/pyrmont1.jpg">
The tenants of this two-bedroom Pyrmont apartment are paying $730 per week and are on a lease until September this year. Within the Casino Gardens building, the apartment includes an internatl laundry, and the building has a swimming pool and gym. It is within easy walking distance of Darling Harbour and the CBD.
Kho and Lee Property Group agent Sami Yildiz<a href="https://www.khoandlee.com.au/properties/557124/details" target="_blank"> is marketing the property</a> with price hopes in the "early $600,000s". If it sells for $600,000 that would secure an investor a gross rental yield of 6.3%, significantly above the indicative gross rental yield for Pyrmont units of 5.1, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $12,000 and over five years to be $42,000.
The median unit price in Pyrmont fell by 4.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 5 at noon and will go to auction Saturday, May 26 at 11.30am. 
For more about prices and yields in Pyrmont, see the RP Data suburb page.
 
<hr class="system-pagebreak">
 
1 Harcourt Street, Blackburn North, VIC, 3130
<img src="/images/stories/harcourt1.jpg">
Although this property is in need of renovation, it is currently returning $310 per week, with a rent increase to $320 per week about to take effect. The tenants are on an expired lease but are keen to stay on. The block is 516 square metres and could be suitable for redevelopment. It is within easy walking distance of North Blackburn Square Shopping Centre, Blackburn High and Old Orchard Primary. It has excellent access to the freeway.
Noel Jones agent Tim Penhalluriack<a target="_blank" href="https://www.noeljones.com.au/property-details/3931451/"> is marketing the property</a> with price hopes of $420,000 plus. If it sells for $420,000 that would secure an investor a gross rental yield of 4%, above the indicative gross rental yield for Blackburn North houses of 3.2%, 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 asking rent for Blackburn North houses is $380 per week.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000.
The median house price in Blackburn North fell by 6.7% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 5 at 10am and will go to auction Saturday, May 19 at 10am.
For more about prices and yields in <a target="_blank" href="/news">Blackburn North, see the RP Data suburb page.</a>
 
 
 
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Friday form guide: Yields of up to 6.3% in Pyrmont

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I don’t know about the rest of the industry, but here at Cooley Auctions we are pretty pleased that April is behind us. The data to come out of April shows that low volume and a genuine lack of quality properties on the market can have a direct impact on prices, clearance rates and buyer activity. We expected a lot more property to begin coming onto the market after the Easter break, but it seems school holidays and the Anzac Day public holiday has all but written off April as a month that many would like to forget.
The big positive to take out of the last couple of days is the Reserve Bank of Australia’s decision to lower the cash rate by 50 basis points to 3.75%, effective May 2, 2012. It’s no secret that economic conditions have been weaker than expected and the recent inflation figures released show that it has moderated. While we don’t feel that the RBA’s decision will spur on an immediate market recovery, it is a move in the right direction for borrowers and agents alike. The message for buyers right now is buy immediately because when the market bounces back it will bounce back at a pace that will be difficult to keep up with. Vacancy rates remain strong and interest rates are low. It is an exceptional time to be buying.
Too often we can get caught up in “the market”. The market is what it is and we shouldn’t make excuses based on a slower market. Hunger is the key ingredient in the success of any agent, and hard work, making calls and being proactive should drive your business. Be inspired by the people you look up to. Model the agents who are succeeding and leave the negativity for someone else. The work you are doing today will have a direct reflection on your results this winter and spring.
<ul>
<li>Even Channel 7 News couldn’t resist coming along to this one bedroom apartment in the heart of the Sydney CBD at 282/569-581 George Street Sydney. It sold at auction for $408,000 through Alan Cheung, LJH Chinatown. Auctioneer: Paul Millett</li>
<li>This five-bedroom home held in the same family for over 130 years at 20 Tantallon Avenue, Arncliffe attracted terrific interest and seven registered bidders when it sold well above reserve for $980,000 through George Kambouroglou, Raine &amp; Horne Rockdale. Auctioneer: Andrew Cooley</li>
<li>In front of a huge crowd and Channel 9 News this immaculately presented federation home set on approximately 556 square metres of land at 50 Monash Road, Gladesville, sold at auction for $96,000 above reserve when it sold for $1,076,000 through Matthew Shepherd &amp; Nick Bedford, Belle Property Beecroft. Auctioneer: Nick Cleary </li>
</ul>
Ideally located across the road from Nagle Park and just a short level walk to Pacific Square, this well-presented two-bedroom home at 97 Hannan Street, Maroubra, sold at auction for $810,000 through Cameron Airlie, Ray White Maroubra/South Coogee. Auctioneer: Ricky Briggs
Commercial sector
<ul>
<li>A medical centre moments from Liverpool CBD, hospital and train station with a current net income of approximately $75,700 per annum at 8 Speed Street, Liverpool sold at auction for $860,000 through Miron Solomons, City Commerical Property. Auctioneer: Damien Cooley\</li>
<li>A cracking result was achieved for this funky warehouse at 12 Clevedon Street, Botany. It sold at auction for $1,186,000 through Keegan Ridings &amp; Sam Brewer, Jones Lang LaSalle. Auctioneer: Damien Cooley</li>
<li>A ground-floor shop leased to Pizza Hut and three-bedroom apartment freshly renovated at 232 Marrickville Road, Marrickville, sold in the Cooley Auction Centre Inner West for $1,080,000 through Colin Tseris, R T Golby (Realty).Auctioneer: Ricky Briggs</li>
<li>A prized blue-ribbon estate set over 2.5 acres (1.01 hectares) at 3 Pembury Close Denham Court sold at auction for $1.75 million through Fab Dalfonso, Colliers International. Auctioneer: Bram Page</li>
</ul>
 
Damien Cooley is the founder of <a href="https://www.cooleyauctions.com.au/" title="Cooley Auctions" target="_blank">Cooley Auctions</a>
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