Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

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>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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EXPERT OBSERVER
COVID-19 has brought about downside risks for the economy and housing market.
A 0.3% decline in March GDP confirmed a technical recession is underway in Australia, total wages paid fell 5.4% between mid-March and early May, and Australian dwelling market values saw the first month-on-month decline since June 2019. But one surprising sign of stabilising emerged in May.
Home sales have risen, with home owners testing the market, and new listings are rising.
In fact, buyer demand is outweighing the volume of new listings.
Where is demand coming from
Where is demand coming from? With the economy severely impacted by COVID-19, it is surprising to see such a strong rebound in transaction activity. But there are a few factors that can explain these numbers. The first is that the 20.4% jump in sales volumes in May is off a low base.
Over April, the number of transactions across the combined capital cities market was estimated to be just 16,115. That is the lowest monthly sales volume since 1991 excluding January results.
It is also pales in comparison to the decade average of 24,700 sales per month across these markets. Although a 20.4% uplift is significant, it still only brings sales volumes to an estimated 19,400 over May.
The second is a rise in consumer confidence. The ANZ Roy Morgan weekly consumer confidence index has risen consecutively for the past 9 weeks.
At the week ending 31st of May, the index is 50.5% higher than when it bottomed out in late March.
In fact, the index is now just 9% lower than when Australia confirmed its first case of coronavirus in January. The easing of social distancing policies and low COVID-19 case numbers in Australia mean people may be feeling more confident about the future of the Australian economy, their personal finances, and property purchases.
Finally, the kind of workers most impacted by COVID-19 are those that are less likely to have mortgage debt. Between the 14th of March and 2nd of May, 27.1% of payroll jobs have been lost across accommodation and food services, and 19.0% of jobs have been lost across arts and recreation. In a previous blog, we noted that this would disproportionately affect renters rather than owner occupiers.
Data from the ABS and HILDA suggests the share of households renting that are in food and accommodation services, and are in a more precarious financial situation, is around 40%. This suggests that for now, conditions have been relatively stable in the housing market because those most impacted by the economic slowdown of COVID-19 may be less likely to have a mortgage obligation.
With stability emerging in the property transaction space, it is evident that additional housing stimulus is less urgent among those that can already afford property, and is another case for addressing housing costs for low income earners.
ELIZA OWEN is CoreLogic's <a href="https://www.corelogic.com.au/news/early-market-indicators-show-first-signs-housing-market-slowdown?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=20200420_propertypulse" target="_blank">head of research</a>
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Buyer demand outweighing new May listings: CoreLogic's Eliza Owen

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An approved beachfront tourist accommodation park at 66-72 Rules Beach Road, on the edge of The Great Barrier Reef has hit the market.
The asset offers a 5.05 hectares of land area that is the balance area of ‘Rules Beach Estate’ and is being offered by way of expressions of interest closing June 25 2020.
The site is being marketed and sold by Ray White Special Projects Qld Executive Directors Mark Creevey and Tony Williams, in conjunction with HTL Property Directors Glenn Price and Brent McCarthy.
<img src="https://f.datasrvr.com/f1/120/40079/Rules_1.JPG" width="640" data-imagetype="External">
Mr Creevey said, "we know travel overseas will be heavily restricted in the short-to-medium term, and maybe even longer, so people’s focus will turn to domestic destinations."
“We expect a huge amount of money to be invested in tourism at home, and this asset really does represent exactly the kind of resort Australians will look to visit in the near future."
Mr Williams said the thoughtful and architecturally designed scheme was led by Shane Thompson, a prominent Australian architect, and Principal of Shane Thompson Architects.
“The site has development approval in place for glamping, camping and caravan park, as well as 42 freehold holiday villas and a rural service centre,” he said.
“It’s encircled by unspoiled beaches, Deepwater National Park and Baffle Creek inlet, with access to Lady Elliot and Lady Musgrave islands.
“Substantial development and infrastructure works to the estate have already been undertaken with access, power and water connected, and DA for sewerage treatment plant," Mr Williams added.
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Approved beachfront tourist accommodation park near Great Barrier Reef listed

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EXPERT OBSERVER
Regional Victoria remains one of the nation’s leading markets, especially on price performance. Of the 138 suburbs and towns ranked our Price Predictor Index, 116 of them have recorded price growth in the past year. 
That means 84% of locations throughout Regional Victoria have growing prices. More than half of those growth markets have increased their median house prices more than 5% in the past year, including many which have had double-digit growth.
The strength of prices in Regional Victoria is confirmed by the latest price data published by CoreLogic on 1 June. House prices recorded, after recording solid increases in March and April, were unchanged in May, while unit prices were up 0.5% during the month.
Regional areas of the state have been boosted by buyers out of Melbourne, including home buyers seeking a more relaxed and affordable lifestyle, while in some cases working remotely for a city business. The coronavirus shutdown period which forced people to work from home is likely to further enhance this trend.
Our Winter survey of sales activity reveals that Regional Victoria has remained quite resilient in terms of sales activity, in the faces of the Covid-19 impacts. There has been only a minor reduction in the number of locations with growing sales activity, compared to the results of our Autumn survey.
There are 27 locations with rising demand. The numbers for the Winter survey are comparable to the results of the previous four quarterly surveys, which generally have indicated that the Regional Victoria market jurisdiction has passed its peak but remains sturdy.
This market was at its strongest throughout 2018, when three consecutive quarterly surveys had 47, 47 and 51 locations with rising sales activity.
But, as our research regularly demonstrates, real estate prices often remain strong long after the peak of the market in terms of sales activity.
This is shown by the many individual suburbs and towns throughout Regional Victoria which have recorded median price growth above 10% in the past 12 months.
Ballarat has been particularly outstanding, with price growth headed by the suburbs of Ballarat Central (up 24%) and Lake Wendouree (23%). Brown Hills, Redan, Alfredton and Sebastopol have all increased between 10% and 12%. Other Ballarat suburbs have increased 7-8%.
The best performers in Geelong have been Drysdale (19%) and Bell Park (10%), while growth in Bendigo has been led by East Bendigo (21%).
But growth markets have been spread widely throughout the state, including Irymple (27%), Tatura (23%), Nagambie (19%) and Euroa (18%).
Other which have risen by between 10% and 14% include Apollo Bay, Portland, Woodend, Churchill, Daylesford and Morwell.
There are numerous locations throughout Regional Victoria which have delivered annual growth of 7-8-9%.
In terms of locations with rising sales activity, which is a pointer to future price growth, the outstanding LGAs are Geelong and Bendigo.
The City of Greater Geelong has provided strong growth markets for the past three years and continues to show resilience. It benefits from its ability to provide an affordable alternative to Melbourne, underpinned by a strong local economy and good links to the nearby capital city.
In our Winter survey we have identified seven growth suburbs and four consistency suburbs, a good result in difficult times. There are also 15 suburbs in Greater Geelong classified as plateau markets. 
Bendigo has five growth markets and two consistency ones, in addition to nine plateau markets. This important regional city is benefiting from growing interest from Melbourne buyers and also investors from other parts of Australia.
Bendigo is behind Ballarat in the market cycle so we think has more upside, looking to the future. Ballarat has been a great performer in the past 2-3 years, as the price growth figures show, but is past its peak, with only one suburb remaining with growing sales activity.
The other standout is Latrobe City, where Morwell, Newborough and /Traralgon are all growth locations, while Moe and Churchill are consistency markets.
Other growth markets across the state include Ararat, Benalla, Castlemaine, Gisborne, Romsey, Cobram, Horsham, Mildura, Wonthaggi and Mooroopna.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Ballarat leads the regional Victorian house price boom: Hotspotting's Terry Ryder

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More than four-fifths of experts (29/34, 85%) say the economy won’t fully recover until at least 2022.
However, more than one-third of experts (37%, 14/38) expect Australia to have its first quarter of GDP growth in Q3 2020.
<img src="https://mcusercontent.com/cc5e9bce699fa1d71a67cf499/images/d8d0b433-be64-41ce-8ca2-8f894987f81f.png" data-imagetype="External">
Mark Crosby, applied macroeconomist at Monash University, said Q3 GDP growth is more about how bad the preceding quarters have been.
“If growth in Q3 2020 was measured against any quarter in 2019 it would be negative.
“In other words it's growth but nowhere near a reversion towards trend in Q3, not the end of recession (other than in definition) and not the end of rising unemployment,” Crosby said.
Restaurants and bars won’t return to normal until 2021
Those anxious for a "normal" restaurant experience once restrictions ease, may be waiting longer than they think.
Nearly half (47%, 15/31) of the experts who weighed in on hospitality said restaurants and bars won’t be operating at full capacity and without social distancing restrictions until 2021.
Less than a third (10, 31%) expected to see this happening this year.
Cooke said while restrictions are beginning to be relaxed, Australia still has a way to go until things return to normal.
“While restrictions are beginning to ease, it’s clear we’re still a long way off from booking a big group table at the pub over the long weekend,” Cooke said.
More than one-third of experts (37%, 14/38) expect Australia to have its first quarter of GDP growth in Q3 2020.
Mark Crosby, applied macroeconomist at Monash University, said Q3 GDP growth is more about how bad the preceding quarters have been.
“If growth in Q3 2020 was measured against any quarter in 2019 it would be negative.
“In other words it's growth but nowhere near a reversion towards trend in Q3, not the end of recession (other than in definition) and not the end of rising unemployment,” Crosby said.
Restaurants and bars won’t return to normal until 2021
Those anxious for a "normal" restaurant experience once restrictions ease, may be waiting longer than they think.
Nearly half (47%, 15/31) of the experts who weighed in on hospitality said restaurants and bars won’t be operating at full capacity and without social distancing restrictions until 2021.
Less than a third (10, 31%) expected to see this happening this year.
Cooke said while restrictions are beginning to be relaxed, Australia still has a way to go until things return to normal.
“While restrictions are beginning to ease, it’s clear we’re still a long way off from booking a big group table at the pub over the long weekend,” Cooke said.
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85% of experts say economy won't recover till 2022: Finder.com.au

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EXPERT OBSERVER
Back on 19th March when we first looked at the impact of the intensifying shutdown of the Australian economy on the housing market (see here) we concluded that the impact would depend on how high unemployment rose.
Our base case was a recession that saw unemployment rise to around 7.5% and would push average home prices down around 5%, but the risk was that a deeper downturn with say 10% unemployment could see a 20% fall in prices. Subsequent government support measures along with an earlier reopening of the economy have reduced the risk of worse case scenarios for home prices.
So Far So Good
The combination of the need for social distancing and the banning for a while of traditional on-site auctions led to a sharp decline in properties for sale.
In addition to this, the Federal Government’s JobKeeper scheme keeping around 3.5 million people in paid employment and a doubling in unemployment benefits along with bank mortgage payment holidays, all of which are for the six months to September, have helped head off an increase in forced sales that might have occurred given the size of the hit to the economy.
So, while property demand has fallen, it’s been matched by a collapse in supply, which has left the property market in a bit of a twilight zone.
While listings have started to pick up a bit lately, they are still very low and this has all helped soften the blow to house prices that would have otherwise occurred, but prices are still starting to fall. According to CoreLogic, after slowing to just 0.2% growth in April, average capital city home prices fell -0.5% in May.
Prices fell in all cities except Adelaide, Hobart and Canberra, with Melbourne -0.9%, Sydney -0.4% and Perth -0.6%. This has seen the monthly change in capital city home prices collapse from a peak of 2% in November.
The positives for the property outlook
There are basically five “positives” for property prices. 
Mortgage rates have fallen to record lows with deals around 2 to 3%. This is keeping mortgage debt interest costs as a share of household income well below historic highs even though the ratio of household debt to income is at a record high of around 200%. Low mortgage costs also make the funding costs for an investment property very low.
As noted above, while listings remain low. 
Government support measures have provided a huge boost to household income, supported businesses, supported employment for around 3.5 million workers, prevented a confidence zapping surge in measured unemployment &amp; with bank mortgage payment holidays (which has seen around 440,000 mortgage deferrals) are preventing a sharp rise in mortgage delinquencies and hence forced sales. 
The shutdown, impacting mostly services jobs, has hit women and younger workers harder in contrast to past recessions which have hit male breadwinners harder and this may have helped keep down debt servicing problems. 
China is running 2-3 months ahead of Australia with respect to the coronavirus shock and its experience provides some guide. While property sales were near zero in the peak lockdown month of February average property price growth slowed but did not go negative and is now picking up a bit.
The negatives
Against these positives there are these big “negatives” for property prices flowing from the coronavirus shock.
High unemployment. We have long regarded the combination of high house prices and high household debt as Australia’s Achilles heel and so we feared back in March that a large rise in unemployment could trigger debt servicing problems, forced sales and so sharp falls in prices.
As it’s turned out, measured unemployment is being suppressed and household incomes supported by stimulus measures. This is by design to help businesses, jobs and incomes hold up through the shutdown period.
It’s likely headed off the worst case 20% decline in house prices scenario we saw in March. But once the support measures end later this year, measured unemployment will likely rise to around 8% and take a long time to fall back to the pre coronavirus levels around 5.2%.
This in turn is likely to lead to some increase in mortgage defaults as bank payment holidays (for around 440,000 mortgages) end, boosting forced sales and act as a drag on property demand, albeit it’s unlikely to be anywhere near what would have occurred in the absence of support measures through the shutdown. 
A big drop in immigration. Thanks to travel bans, the Government expects net immigration to fall to just below 170,000 this financial year and to around 35,000 next financial year from 240,000 last financial year. This is a huge hit and if it occurs – the Government could always allow a faster return of immigration – it will take population growth over 2020-21 to just 0.7%, its lowest since 1917.
It will imply a hit to underlying dwelling demand of around 80,000 dwellings over the next 12 months taking it down to around 120,000 compared to underlying demand last year of around 200,000. This risks resulting in a significant oversupply of dwellings, reversing years of undersupply that has maintained very high house prices since mid-last decade.
A cut to immigration is not something China has had to deal with, so its property market experience is not directly translatable to Australia.
Falling rents and rising vacancy rates. Vacancy rates rose sharply in April and this plus rent relief is putting downwards pressure on rents. This will be further impacted by very low immigration. It will further weigh on investor demand and may cause problems for heavily geared property investors.
Measures to boost housing construction. Faced with a big reduction in housing construction activity over the year ahead, governments appear to be working on plans to boost activity to protect home builders’ jobs via new home building grants and possibly the construction of social housing.
Normally first home buyer grants provide a boost in overall demand. But if the focus is just on boosting supply at a time when underlying demand is very low reflecting lower immigration it could add to downwards pressure on average prices. (Proposed moves from stamp duty to land tax in some states could provide a short-term boost to home prices but should be long term neutral if the same revenue is raised and it’s unclear whether or when it will occur.)
Concluding comment
Our worst-case scenario for a 20% decline in prices and those of others seeing 30% plus falls are unlikely thanks to support measures and the earlier reopening of the economy. To get these worst-case scenarios would require a “second wave” of coronavirus cases &amp; so a renewed shutdown or another down leg in the economy in response to a surge in bankruptcies.
However, further falls in prices are still likely, as “true” unemployment (to become clear after September) remains high for several years, government support measures and the bank payment holiday end after September, immigration falls and likely government measures boost housing construction. Our base case is for national average prices to fall around 5-10% into next year.
Sydney &amp; Melbourne are likely to see 10% falls as they are more exposed to immigration and have higher debt levels whereas Adelaide, Brisbane, Perth &amp; Hobart are only likely to see small falls and Canberra prices are likely to be flat. This may be seen as a reasonable outcome in terms of making housing more affordable but without posing a big threat to the economy (via a downwards spiral of falling prices and negative wealth effects on consumer spending) at the same time.
Dr Shane Oliver Head of Investment Strategy and Chief Economist at AMP Capital
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Australian house price collapse likely averted but expect more weakness ahead: Shane Oliver

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A Gowanbrae mortgagee home has been listed for sale.
Located at 87 Primula Boulevard, the home features four bedrooms, four bathrooms, and a double garage.
The total block comprises 898 square metres, with 399 square metres of internal floor space inside the house.
A price guide of $1,150,000 to $1,250,000 was provided. 
The block of land was purchased in 2013 for $290,000, and the house was completed in 2015.
Lilian Farrugia, from Stockdale &amp; Leggo Gladstone, has the listing.
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Gowanbrae mortgagee home listed for sale

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EXPERT OBSERVER
When considering commercial property, you may think you need a lot of money, and most commercial property is indeed expensive. However, there are bargains to be had.
The majority of the cheapest listings sold on realcommercial.com.au in the past 12 months were storage units and regional development sites, some even with incomes.
The third cheapest commercial listing sold in the past 12 months – a development site in Brigalow – included a billboard, which was reported as earning $13,000 per annum. Not bad for a $36,000 purchase price.
The 10th cheapest – an office suite in Dandenong – is leased for $5,700 per annum, which again, isn’t a bad yield on a $57,000 purchase.
<img src="https://www.urban.com.au/images/2020/7/1/Cheap%20commercial.JPG" alt="">
NERIDA CONISBEE <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank">is the chief economist for the REA Group</a>
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What commercial property is selling for bargain prices? REA's Nerida Conisbee

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The Adelaide metropolitan suburb profiles vary, each characterised by different property types, location characteristics and demographics, according to the latest report from valuation firm Herron Todd White.
Seven percent of the metropolitan area’s population was made up of people aged 30 to 34 years, which represented the highest percentage of persons within an age bracket.
“At this time, the average age for a first home buyer was 34 years,” the March report found.
“These buyers are heavily reliant on financial institutions and the bank of mum and dad.
“They seek out comfort before opulence within familiar surroundings, typically within range of the family home.
“Within the inner ring those brought up in Prospect (dwelling median price $685,000) look north of Regency Road to Blair Athol (dwelling median price $440,000) which represents a price differential of $245,000 while those brought up in Millswood (dwelling median price $880,000) look west of South Road to Glandore (dwelling median price $495,000) which represents a price differential of $385,000,” the firm continued.
Representing typical first home buyer properties within Blair Athol and Glandore are 65 Lionel Avenue, Blair Athol, a circa 2008 brick veneer dwelling disposed as three-bedroom, two-bathroom on an allotment of 376 square metres and 32 Grosvenor Street, Glandore, a circa 1930 semi-detached brick dwelling disposed as two-bedrooms and one-bathroom on an allotment of 314 square metres.
These properties achieved sale prices of $467,000 and $502,500 respectively.
<img src="https://www.urban.com.au/images/2020/3/12/SA%201.png" alt="">
“We are also seeing first home buyers moving into the developing suburbs at the extremities of the metropolitan area,” the report said.
“This has become ever prevalent north of the city with Munno Para West recording the lowest median age of 29 years for the metropolitan area. Located 35 kilometres north of the Adelaide CBD, Munno Para West has been extensively developed over the past decade and provides purchasers with an affordable product of a more comfortable standard relative to the surrounding suburbs.”
An example of the typical dwelling within Munno Para West is 7 Blossom Road which achieved a sale price of $293,000. This property provides a circa 2014 brick veneer dwelling disposed as three-bedrooms and two-bathrooms.
The property has a double garage and a basic level of site improvements situated on an allotment of 370 square metres.
<img src="https://www.urban.com.au/images/2020/3/12/SA%202.png" alt="">
“As we move through the buyer lifecycle, first home buyers progress to upgraders and investors. Both these buyer types are looking for vastly different asset types,” the report said.
Upgraders are seeking out properties with increased accommodation, proximity to services particularly schooling, upside in terms of ability to extend or renovate and all at a reasonable price.
All of these factors come together east of the CBD in the foothills suburbs of Stonyfell, Wattle Park and Beaumont. Each of these suburbs are well serviced and had development occur through the 1970s and 1980s, with a substantial number of large brick homes being constructed.
Many of these come to market in a neat and tidy original condition.
Comparative affordability to the surrounding suburbs comes through the gradients of the land as the suburbs move further into the foothills.
Representations of this property type come in the form of 15 Caithness Avenue, Beaumont and 3 Darrell Avenue, Wattle Park, each achieving a sale price of $880,000.
Both properties provide neat and tidy original 1970s brick dwellings each with four bedrooms, multiple living areas and sloping allotments of greater than 950 square metres.
<img src="https://www.urban.com.au/images/2020/3/12/SA%203.png" alt="">
“Investors are seeking out properties throughout the greater metropolitan area with no real single area designated as a hot spot,” the report continued.
The outer ring is providing gross yields in excess of eight percent however provide limited price growth whilst the opposite is true for the inner and middle rings where gross yields soften to sub five percent however provide stronger prospects for price growth.
Investors generally avoid properties which require extensive capital works, tending to seek out tired properties which require a slap dash makeover to increase the achievable weekly rental.
The recent sale of 55 Marshall Terrace, Brooklyn Park for $555,000 is a fair representation of typical investor stock.
This is a neat and tidy original 1950s brick dwelling disposed as four bedrooms and one bathroom on a 635 square metre corner allotment.
Since settlement the property has been listed for rent asking $465 per week. If the asking rental is achieved, the property will generate a gross yield of 4.35 percent.
<img src="https://www.urban.com.au/images/2020/3/12/SA%204.png" alt="">
The buyer lifecycle is moving into its final stage with downsizers being front and centre.
These buyers are cashed up and specific in what they require.
“We typically see these buyers looking to reduce land size for low maintenance however retain living space for the grandkids to sleep over,” the report said of the demographic.
“The kicker for these buyers is that they don’t want to move any further than a drop punt from the family home.”
“This can become problematic for those living in the inner ring as zoning constraints restrict high density development reducing the availability of stock for these purchasers.”
Filling the market gap in the inner southern suburbs is the Cedar Woods development of the former Glenside Hospital site.
With proximity to Burnside Village, Adelaide Parklands and The Arkaba shopping and health precinct, this development has been popular with downsizers moving from the surrounding low density heritage suburbs.
Further servicing this market are the Norwood Green and George and Queen developments in the inner eastern suburb of Norwood.
<img src="https://www.urban.com.au/images/2020/3/12/SA%205.png" alt="">
Disruptors to the traditional buyer lifecycle are nonAustralian born purchasers entering the market.
“These buyers seek out comfortable surroundings gravitating towards areas which provide a cultural resemblance to their home country,” the report continued.
The CBD apartment market has been popular with Chinese buyers, particularly apartments within the buildings surrounding Chinatown. Similarly, the suburbs surrounding the northern section of Prospect Road have been popular with Middle Eastern, African and Indian purchasers.
“Many of these purchasers come from cultures where the whole family lives under one roof. We have seen an increase in construction of dwellings with self-contained living spaces and established dwellings being improved with detached living spaces,” the firm concluded.
“Suburban Adelaide provides market entrants at all stages of the buyer lifecycle the opportunity to enter the market. With a swathe of differing property types and market entry price point, there will be something available for everyone.”
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Adelaide first home buyers reliant on the bank of mum and day: HTW

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Much the same as most other regional locations across Central Queensland, Gladstone has a good mix of home-owner types, according to a recent report from valuation firm Herron Todd White.
“Investors have been very prominent during boom periods, however first home owners and upgraders have taken the market share of purchasers over the past two to three years,” the report found.
“It’s not hard to recognise the value to be had in the current market even after having seen minor price growth over the past 12 months. We have seen a marked increase in demand for executive style large four-bedroom homes on larger lots and typically with pools or sheds.”
The report concluded that the increase in demand has come from out of town buyers (typically from southern markets) wanting to downsize their mortgage but at the same time not wanting to compromise on quality or features.
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Gladstone residential market dominated by first home buyers and upgraders; Herron Todd White

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By late April some 1000 Australians have now purchased a property with Commonwealth Bank under the Australian Government's First Home Loan Deposit Scheme.
The scheme, launched on January 1, 2020, helps eligible first homebuyers purchase a home with a deposit of as little as five per cent.  
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In addition to the 1,000 customers who have purchased a home, CBA has helped a further 2,400 customers secure a place under the scheme.
CBA announced that customers who have reserved a place under the Scheme who have not yet found a property, can now request to extend the deadline to find a property and enter a contract of sale for another 90 days. 
It will give customers a total of six months to find a property and provide them with the peace of mind they need during this difficult period that their place under the scheme is safe. 
CBA Group Executive Retail Banking Services, Angus Sullivan said, “There is a lot of interest and uncertainty about the impact the coronavirus will have on the Australian property market so it’s encouraging that we have crossed this exciting milestone in the current environment. 
“As Australia's largest home-loan lender, our Australian-based call centres remain open for business and we continue to have industry leading processing and turnaround times for home loan applications. 
“Whether you are purchasing your first home or looking to buy a new home we want to reassure customers that we are open for business and here to help them realise their home ownership goals. 
“We also realise that some customers are looking for support during this difficult period and we have a range of measures to assist them including deferring repayments and reducing repayments to free up cash.” 
Rebecca Dore, a 32-year-old from Victoria, was the thousandth customer to purchase her dream home with CBA in Pakenham, Victoria.
“I was saving for a deposit but was a few years off buying a property so when my Lender contacted me and explained that I would be able to purchase a home much sooner by participating in the Scheme I was ecstatic."
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