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?

<html><body>
Affordability, not spaciousness, is the drawcard for apartments even in Double Bay. Oceania Property is hoping third time lucky – and the one-bedder home buyers’ market – will generate sales for its boutique development at 18 Bay Street, Double Bay.
After failing to secure any luxury buyers during the marketing for planned project Montre, the developer has gone back to the drawing board and has released a plan with a new mix of units, new prices – and even a new name.
Montre was the second attempt for the development site, as in 2009 registrations of interest were being sought through Colliers by the developer, Thaung Investments.
<img src="/images/stories/bayresidences.jpg">
Oceania bought the site for $20.5 million in January 2011, with the site having previously traded at $15 million in 2007.
Montre was to feature just eight apartments, with prices starting from $3.25 million for the three two-bedroom offerings.
“Montre is our benchmark development,” Nico Wijarto Tjen, a director of Oceania Property, said in October last year. “What we are offering is grand, easy-care apartments for those who appreciate the finer things in life.”
But Sydneysiders didn’t seem to want grand, easy-care apartments with multimillion-dollar price tags, and the new incarnation of the plans has been rechristened The Bay Residences and is set to comprise 21 smaller, less expensive offerings. The exterior, designed by Kann Finch architects, remains substantially the same.
<img src="/images/stories/bayresidences2.jpg">
The 15 one-bedroom apartments start from $825,000. Two-bedroom apartments start from $1.75 million, three-bedrooms offerings from $2.25 million and the penthouses from $3.99 million. There are set to be two of each of these larger configurations. In Montre, the penthouses were set to start from $5.56 million.
<img src="/images/stories/bayresidences3.jpg">
The new tack seems to be working, with two apartments sold and a few others in discussions about a month after they came onto the market, according to Wijarto Tjen.
Ben Stewart, a director of CBRE residential project marketing, which is marketing The Bay Residences, says the previous incarnation appealed to the wrong demographic for the current market.
“I know of exquisite three-bedroom apartments in Double Bay that are still unsold 18 months after they were completed,” he says.
“There is absolutely nothing wrong with the apartments; it’s just that empty-nesters are remaining in their family homes because they don’t feel as financially secure as they once did.
“Currently in Sydney the majority of buyers are young singles and couples fed up with paying rent. They still want to live in a convenient, vibrant location, but have limited budgets. That’s why one-bedroom apartments always sell first in Sydney developments these days.”
<img src="/images/stories/bayresidences4.jpg">
The developer has lodged a section 96 request with Woollahra Council to modify the plans for the Bay Street block. The application is currently pending, but as plans for the exterior have not changed, the developer expects it will receive council approval soon. Woollahra Council is thought to favour blocks with more, smaller units over fewer, larger ones.
“The councillors and council staff I’ve spoken to are very supportive of the changes because it will mean more residents will now be able to live in Double Bay,” says Wijarto Tjen, “and the new apartment mix will also mean younger residents.”
Oceania Property is set to begin demolition work on the existing building on the site next month, and it hopes that Woollahra will have approved its section 96 modification shortly thereafter so it can begin construction. The Bay Residences have a tentative completion date of August 2013.
 
 
 
</body></html>

cknowlton-QnEa6ntUYP

Oceania Property swaps luxury and space for affordable one-bedders in third incarnation of Double Bay site

<html><body>
Can you use a green builder and still have a cost-effective result?
In our experience the answer is yes. We found that using an eco-friendly builder not only added to our client’s bottom line and benefited their tenants, it also gave peace of mind that they were doing their bit for the environment.
When it came to finding a builder for our granny flats, at first I had one thing in mind: cost effectiveness, because this development strategy was all about creating the highest yield possible. We asked our regular brick and tile builders to price a two-bedroom 60-square-metre flat by using their traditional slab/brick/roof tile construction, but their price was coming in too high.
Thus our search began for a cheaper way to build the flats without compromising on quality. We researched caravan park-style cabins that could be trucked to site but found this method was about the same price as our brick builders. We even looked at converted shipping container boxes, but they were not up to our standards.  Then we found our eco-friendly builder.
I’ll quickly explain what is involved with this development strategy.  First we locate a house in a strong rental area, one with “good bones”. By that I mean a large house with at least three to four bedrooms and one that doesn’t need too much renovation. The property needs to tick a number of boxes but in particular be complying so we can use our private certifier to fast track the complying development application to build the granny flat.   We bring the house up to the standard where we could maximise the rent, there is an income during the build phase and on completion the flat is rented, usually to a separate tenant than the house. The result is a 9% gross yield.
So back to our eco builder. I was impressed to see his company is certified as a climate-friendly business, encompassing not only its corporate operations but every granny flat and house it builds.  The company undertook extensive assessment and calculations to estimate emissions associated with the construction of each home.  On completion, clients are supplied with a certificate from <a target="_blank" href="https://www.climatefriendly.com/">Climate Friendly</a>, certifying that during the construction process emissions of greenhouse gasses were minimised and then offset. This reduces the adverse affects on the planet throughout the stages of design, construction and completion.
This company’s process includes using alternative building materials and construction methods. By using sustainable and lightweight building products and cost-efficient design principles it achieves energy efficiency. The company has even won lots of awards and is considered an innovator in the field.
Transporting products to building sites usually results in the use of large quantities of both fuel and other resources. This builder has put in place a system to greatly reduce the amount of transport required and therefore reduce the amount of greenhouse gasses being emitted during the construction process. One of the key facets of this is the ability to produce our granny flats to lock-up stage in the factory, enabling a single delivery of the flats and all components needed to complete lock-up stage onsite.  The construction process takes approximately 50% of the time required for a typical slab/brick/tile house.
As well as the faster completion time and environmental benefits there are other positives as well. Electricity bills are reduced, water bills are minimised, and our clever granny flat design reduce the need for heating and cooling. Use of natural air movement for cooling, solar or gas heating and appropriate positioning of the flat on-site is all part of the process. Research has shown that heating and cooling account for an average of approximately 40% of household energy costs across Australia. Homes designed to suit the climate of their location result in a significant reduction in the amount of energy required to heat and cool the home.
So we found a winner with our eco-friendly builder. His tender came in 15% lower than the other builders, our flats are completed in half the time, tenants will save on their bills and we have a carbon neutral result. To me that’s a win-win-win!
Jo Chivers is director of <a target="_blank" title="Property Bloom" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
</body></html>

jochivers-wq5Bp59R5a

An eco-friendly builder pays off with a smart granny flat

<html><body>
Developer Ecove has sold 111 of the 270 apartments of stage two of its Australia Towers development at Olympic Park less than two weeks after the stage launched on April 21.
<img src="/images/stories/at211.jpg">
Most buyers have purchased the larger two-, three- and four-bedroom units, and Colliers International residential project marketing general manager David Chittenden says most are owner-occupier upgraders from Sydney's inner west and the Hills District.
“What these sales have shown is that not everybody is an investor on a downsizer,” Chittenden says.
<img src="/images/stories/at21.jpg">
Stage one of the development (pictured below), which is now complete, has sold 209 of the 216 apartments.
<img src="/images/stories/at27.jpg">
Stage one launched in early 2010, and construction finished a few weeks ago. Almost 80% of stage one sold within the first few weeks of the 2010 launch.
<img src="/images/stories/at23.jpg">
<a target="_blank" href="https://www.propertyobserver.com.au/developments/olympic-park-australia-towers-launches-stage-two-after-stage-one-sells-fast-out-of-the-starting-blocks/2012040354146">The second stage, called ATII, will be 25 storeys</a> and is the second of three planned stages. It will have 95 one-bedroom apartments ranging from $450,000 to $595,000 and from 54 to 71 square metres internally, 132 two-bedroom apartments with between 77 square metres and 122 square metres of internal space and priced between $585,000 and $1,085,000, 26 three-bedroom apartments of between 103 and 159 square metres each ranging from $900,000 and $1,565,000 and 14 four-bedroom units, which will range from between $995,000 and $1.76 million and between 141 and 181 square metres internally. Every apartment will have at least one car space.
<img src="/images/stories/at24.jpg">
“Lifestyle is the major reason ATII has been so popular," Chittenden says.
"Many people want to take advantage of the sporting and entertainment facilities on their doorstep, the 430 hectares of parklands, the 35 kilometres of bike tracks, and the 32 restaurants, cafes, bars, and speciality retailers.”
<img src="/images/stories/at28.jpg">
Olympic Park is a new 640-hectare Sydney suburb about 15 kilometres west of Sydney CBD and became an official suburb in 2009. The locality was part of the suburb of Homebush Bay and was redeveloped for the 2000 Sydney Olympics. More than 5,000 events are held at Blaxland Riverside Park in the suburb every year, and about 500 permanent residents now live there. There are more than 130 businesses in the suburb.
Architectural firm Bates Smart has taken a cue from the nearby stadium precinct for the design of ATII.
<img src="/images/stories/at25.jpg">
“We’ve given the building ‘gills’ so that it can breathe,” says Bates Smart director Philip Vivian. “Vertical slots on the northern and southern sides of the facade encourage natural airflow through the apartments and the communal spaces.
“The design maximises light into each apartment, and horizontal sun-shading bands circling the building in varying depths provide added protection to the north.”
<img src="/images/stories/at26.jpg">
Colliers estimates that one-bedroom units will rent for between $500 and $575 per week and that two-bedroom units will command rents of between $600 and $800 per week. For the pricier, larger apartments, Colliers estimates that the three-bedroom units will rent for between $700 and $1,000 per week, and that tenants will pay between $1,000 and $1,500 per week for the four-bedroom units.
<img src="/images/stories/at213.jpg">
Construction is expected to start on ATII in mid-2012 and finish in early 2014.
<img src="/images/stories/at29.jpg">
 
 
</body></html>

About 40% of Olympic Park's ATII tower sold soon after marketing starting gun sounds

<html><body>
As residential developers across the country offer free furniture, chuck in outdoor settings or even to pick up stamp duty costs in order to snag a sale, upscale developer Mirvac has taken a different tack.
Aurora is Mirvac’s fourth residential tower at The Peninsula project in Perth’s Burswood, and the developer is offering to pay strata levies for three years to each buyer of three apartments.
<img style="float: left; margin: 5px;" src="/images/stories/aurora1.jpg">
Mirvac will cover the cost of $3,700 a year to a maximum of $12,000 for buyers of selected two-bedroom, two-bathroom, 110-square-metre apartments.
“It [the deal] is available across all remaining two-bedroom apartments, as they make up the bulk of what’s left,” says a Mirvac representative.
Aurora, which was finished in 2010, has 130 apartments, of which 101 units have sold for an average price of $1.15 million. The remaining apartments range in price from  $679,000 for a two-bedroom unit with a balcony and single parking bay to $3.95 million for the last of the three luxury penthouses. The top sale in the building was $4.2 million for a penthouse, which was a record price when it sold in 2009 off the plan.
The Peninsula project has won many awards for the developer, including the Urban Design Institute of Australia’s best high density development award for Aurora in 2010 as well as the HIA’s SEDO Greensmart Award for Estate of the Year in 2009.
The entire project will house about 3,000 people when it is completed in 2017. Owners and tenants occupy about 75% of available stock.
“The strata deal is subject to conditions including how close to the asking price of $679,000 a buyer gets. We are smart developers and realise that it is a buyer’s market so we will enter into negotiations on asking prices,” says Mirvac selling agent Chris Plummer.
Indeed, to sure up the offer, which ends in four weeks (May 31), the sale also has to be settled by the end of the year.
Earlier this year Mirvac ran a campaign offering a 9% guaranteed rental return for 12 months to attract buyers to its Mandurah waterfront project, about an hour south of Perth.
 
 
 
 
 
 
</body></html>

andreadixon-oif3j7eKne

Mirvac offers to pay strata levies to secure remaining sales in Perth project Aurora

<html><body>
A 1970s façade turned off potential buyers of a Melbourne townhouse at the weekend, as it was passed in and sold at a price at the lower end of its quoted range.
There's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank" style="font-size: 14px; text-align: left;">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 façade of the 1970s townhouse featured on Property Observer turned buyers off 4/10 Ryeburne Avenue, Hawthorn (pictured below), as it struggled to generate any real competition and was passed in for $881,000. It sold shortly after the auction for $908,000 which was at the lower end of its quoted range.
<img src="/images/stories/ryeburne.jpg">
In Sydney no auction tippers guessed the $2.25 million result at 16 Upper Minimbah, Northbridge (pictured below).
<img src="/images/stories/minimbah.jpg">
The property was quoted at $1.7 million plus, and although the house itself was not in great condition it was the 740 square metres of land and highly desirable location with view of the water that drove demand.
 
</body></html>

Seventies townhouse façade turns off Melbourne buyers in property auction tipping competition

<html><body>
2/48 Willis Street, Kingsford, NSW, 2032
<img src="/images/stories/willisst.jpg">
The tenant of this two-bedroom unit is paying $520 per week and is on a lease until November this year. It sold under the hammer on Thursday, April 26 for $500,000, securing its investor buyer an indicative gross rental yield of 5.4%, substantially above the median indicative gross rental yield of 4.6% for Kingsford units, 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 property is close to shops, restaurants, cafes, public transport, the University of NSW and beaches, and both bedrooms have built-in wardrobes.
LJ Hooker agent Anthony Rizzo gave pre-auction price hopes in the "early $500,000s". 
<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 $5,500 and over five years to be $16,500.
The median unit price in Kingsford rose by 3.5% in the past year, according to RP Data.
For more about prices and yields in Kingsford, see the RP Data suburb page.
 
</body></html>

Investor form guide wrap: Gross rental yield of 5.4% in Kingsford

<html><body>
With uneven buyer demand, top-end auction offerings are trailing off in both the Melbourne and Sydney auction markets.
But an Edwardian weatherboard in Mayston Street, Hawthorn, listed through Marshall White and Jellis Craig, was emblematic of strength in the inner-Melbourne family home market. It sold for $1,965,000 after three bidders competed. It had a $1.83 million reserve and was Melbourne’s top sale.
Buyers’ agent Mal James says most Melbourne family homes at this price level have gone well this year.
“And we do have a stock shortage in April.”
He says the price reinforced his perception of the market’s strength and that $1.9 million was the market level for this home as there were three real bidders.
“This surprised me – yes, it's good land size, but I did not expect it to be quite so strong.
“But, again, this is a family home and tighter-than-anticipated stock levels says for the right home the market is far from dead.
“Prices have definitely stabilised from last year's falls for the moment for these types of family homes – absolutely no question about that,” James <a href="https://marketnews.com.au/auction-reviews/19236/29-Mayston-Street-HAWTHORN_EAST/" target="_blank">advised in his auction review</a>.
"The $1 million-plus inner-Melbourne market has little option but to remain solid for the moment, with universal demand for market priced homes and new supply at a trickle in April.
“On top of this, new stock levels appear well down on initial selling agent expectations for May.”
The top sale in Sydney was a two-bedroom home at Northbridge, on the lower north shore, which was offered for the first time in 25 years.
The $2.25 million sale through Ray White Northbridge followed 10 registered bidders, with five competing strongly.
But none of the three offerings over $2 million sold in Melbourne, with no bidders on a $3.7 million-plus Danks Street, Middle Park, offering.
A Nelson Road South Melbourne offering – $2.4 million vendor bid – was among the 45% of Melbourne’s $1 million-plus listings that were passed in.
Brisbane auctioneer Jason Andrew said while buyer registrations continued to rise, the number prepared to act had been falling.
"While the inner ring of Brisbane is performing better than the outer suburbs, the air of optimism that was tangible earlier in the year has recently been lacking. 

“News of an interest rate cut would normally spark enthusiasm in the property market, but despite last week’s speculation around a possible series of cuts on the back of the latest inflation data, we have not seen any change in buyer sentiment at this point,” Andrew said.

“There’s still buyer interest but it’s predominantly coming from the sidelines – most are unprepared to actually get in the ring.”

“Consumers are jaded – they don’t believe the banks are going to pass on any official cut anyway.”

"Buyers in today’s environment are only interested in value,” Andrew advised.

There were 217 auctions listed in Sydney, down on 316 the previous weekend and 352 the year before. In Sydney, the clearance rate was reported as 48.8%, down on 58% on the prior weekend, according to Australian Property Monitors, which is owned by Fairfax Media.
There were several districts faring well.
The Canterbury Bankstown district was strong, with 73% of its 21 listings being sold.
Some 55% of the 50 upper north shore were sold.
And 61% of the 38 in the city and east were sold.
In Sydney’s west was weak at 44%. The south west had 18 results with six finding buyers.
The NSW central coast had 17 results, of which seven found buyers.
The south of Sydney had nine sales from its 26 reported offerings.
The Melbourne residential auction market has been providing very consistent outcomes, with the weekend no different given its 60% clearance rate.
It compares to 59% last weekend.
It represents an improvement on the 56% on the same weekend last year.
The five Melbourne weekends leading up to Easter returned clearance rates in a very tight band between 58% and 61%, which indicates very consistent demand despite the fluctuations on volume and price.
It has dipped to 55% on one weekend since.
There were 520 weekend auctions reported to the Real Estate Institute of Victoria, with 310 selling and 210 being passed in, 130 of those on a vendor’s bid.
Announcements on Tuesday of the state budget and interest rates have the potential to improve consumer confidence, the economy and the property market over the coming months, REIV boss Enzo Raimondo says.
Next weekend the REIV expects around 670 auctions followed by 650 in a fortnight in Melbourne.
APM has 380 and 360 scheduled auction listings over the next two weeks across Sydney.
</body></html>

jchancellor-FAypfDUnLy

Inner-Melbourne $1 million-plus family home market shows strength: Mal James

<html><body>
Western Australian property developer Finbar has recorded residential sales of just over $100 million in its completed $160 million East Perth apartment project, Fairlanes.
<img style="float: left; margin: 5px;" src="/images/stories/fairlanes1.jpg">
The 27-level tower has 128 apartments, and 120 deposits have been taken, including one for a $2.5 million penthouse.
The most expensive penthouse, which has views of Rottnest Island and a price tag of $2.65 million, is yet to sell.
Finishing touches are being made to the project, and residents will start moving into the tower in three weeks.
So far the average sale price in the completed Adelaide Terrace development is $850,000.
The completed Fairlanes was launched on by WA Premier Colin Barnett on Friday, April 27 and has 7,000 square metres of office space over five levels plus 600 square metres of ground-floor retail and food space, of which about 3,600 square metres has been leased. Finbar will move its own corporate headquarters into some of the office space and retain the balance as an investment. The commercial area is valued at $53 million.
“The completion of Fairlanes is very well timed to benefit from the squeeze in Perth city vacancy rates and unrelenting demand from companies associated with the resources sector,” says Finbar managing director Darren Pateman.
The developer believes the remaining space and apartments will sell and lease steadily without the need for incentives.
<img src="/images/stories/fairlanes3.jpg">
“This will also help underpin the value of the retained commercial investment and provide a boost to the company’s reoccurring investment income. Revenue from successful settlements at Fairlanes coupled with recent revenue received from settlements from our ‘18 On Plain’ 29-apartment project will support an anticipated moderate increase in forecast profit from last year’s record profit of $24.03 million,” he says.
<img src="/images/stories/fairlanes2.jpg">
Finbar has produced eight high-rise apartment towers in WA since 2009 and has a further 10 buildings under construction in WA.
</body></html>

Finbar’s East Perth project Fairlanes complete and almost sold out

<html><body>
Australian Property Monitors (APM) has released a list of results from 240 auctions in Sydney for the weekend of April 28. The clearance rate was 48.8%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
 
</body></html>

po-LsXgBTHBmX

APM's 240 Sydney auction results showing a clearance rate of 48.8%

<html><body>
Construction has begun on the last of 20 “black holes” in Sydney’s Chinatown that were formerly part of Paddy’s Market, as Ausbao’s The Quay development gets under way.
The 270-apartment complex launched on Saturday, and CBRE director Murray Wood told Property Observer nearly 200 sold on the day. He says he expects more to sell today.
<img src="/images/stories/thequay9.jpg">
Of these, about 55% sold to owner-occupiers and many to locals, according to the Australian Financial Review, which reports that any unsold stock will be marketed in Hong Kong after May 7.
The agents report that buyers queued up from seven in the morning, and buying activity was "frenzied" once doors opened at 7.30am. Buyers have a five-day cooling-off period to change their minds.
<img src="/images/stories/thequay8.jpg">
Chinese-backed Ausbao Group bought the site at 61-79 Quay Street in 2009 for $38.38 million, according to RP Data, and has plans for a two-tower, $280 million development.
<img src="/images/stories/thequay1.jpg">
After purchasing the site the developer held a design competition, and Sydney City Council granted WMK Architecture’s winning entry 10% “bonus” floorspace because of its environmental features and ability to re-activate public spaces on the long-dormant site.
<img src="/images/stories/thequay5.jpg">
The site was the poultry section of Paddy’s Market from 1912 until the 1950s (historical photo above), and was a retail warehouse for a time. The building burnt down in 1985, leaving just a portion of the façade, and in the late 1980s and early 1990s recession projects to revitalise the site were abandoned.
It has been a car park in recent years, and is bounded by Quay Street, Thomas Street and Thomas Lane.
<img src="/images/stories/thequay2.jpg">
The Quay development will incorporate the façade of the former warehouse and will include 255 car spaces, three retail levels and copious bike parking along with the residential component. 
Apartments will range in price between $390,000 and over $1.7 million, according to marketing agents CBRE, which notes that the prices are not finalised yet. One-bedroom apartments will range between 36 and 64 square metres internally. Most will come with car spaces and some will include studies.
<img src="/images/stories/thequay3.jpg">
The two-bedroom apartments in The Quay will range from 76 to 88 square metres and will all include at least one car space, and the three-bedroom offerings will range between 104 square metres and 131 square metres internally. All the three-bedroom units will come with two car spaces.
CBRE head of residential project David Milton says the car spaces may be unnecessary for residents’ day-to-day life.
“We’re sure businesspeople and working couples will like the convenience of living in a walk-to-work situation, but if they do need to travel there is light rail and buses virtually outside the front door and Central Railway just across the road,” he says.
“This is certainly one location in Sydney where you can do without a car.”
<img src="/images/stories/thequay4.jpg">
A terrace garden will connect the two towers, and it will also feature an indoor/outdoor gymnasium.
“We introduced elements previously only seen in prestigious hotels, which gives The Quay an unique architectural point of difference over other residential developments,” says WMK managing director Greg Barnett.
“The geometric glass, aluminum and louvre facades embrace strong vertical and horizontal planes, and the subtly different architectural expression of each tower reflects the diversity of the inner city Haymarket precinct. You could say the buildings have different personalities within a common language.”
The interiors have been designed by Smart Design Studio and are set to be both unconventional and striking.
““Our concept is ‘life beautifully packaged’, and we’ve taken inspiration from the world of luxury brands,” says Smart Design Studio founder William Smart. “We’ve foregone the overhead cupboards, white polyurethane joinery and blond timber accents in order to create a special place that is crafted and unique. This concept pursues the idea that things that surround us can create the mood of a space, just like a stage set builds the scene that transports us to another world.”
<img src="/images/stories/thequay6.jpg">
The buildings will include sustainable extras like plantation-grown timber, eco-friendly building services and a gas heated central hot water system.
The development will be directly opposite the University of Technology Sydney’s Haymarket campus, where <a target="_blank" href="/news">Australia’s first Frank Gehry-designed building is due to be built</a>.
<img src="/images/stories/thequay7.jpg">
Construction began on the development a few weeks ago and is due to be completed in mid-2014.
</body></html>

Latest Buying Insights

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News