National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

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Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

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Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

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Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

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Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

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One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

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There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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The North West region of Melbourne had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 74 auctions known to CoreLogic in the North West 89.2 percent were sold successfully.
This is followed by the North East with 83.9 percent and the Inner South with 76.6 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2012.21.26%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/20/Screen%20Shot%202017-03-20%20at%2012.21.26%20pm.jpg" alt="">
The South East region of Melbourne had the lowest auction clearance rate with only 73.6 percent of its auctions sold successfully.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-vic-avondale+heights-124741902">2/10 Military Road</a>, Avondale Heights (above) was sold for $440,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-sunshine+north-124801790">10A Mansfield Avenue</a>, Sunshine North (below) was sold for $440,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/20/10A%20Mansfield%20Avenue.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Melbourne's North West secures 89 percent auction clearance rate: CoreLogic

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House and land option in outer western Sydney should be on the radar for first home buyers as off the plan units, in a wide variety of locations, are unable to achieve their purchase price upon settlement, according to HTW’s Month in Review: March 2017. 
The valuation firm says many of these units were originally purchased in stronger market conditions, particularly in 2015.
“This could be disastrous for a first home buyer after saving for a large deposit and having to come up with more money to settle,” the report says.
HTW says yields have tightened across the board with Sydney recording record low returns at 2.8% for houses and 3.8% for units, according to CoreLogic data.
It points to significant price growth and high investor participation that has resulted in a flooded rental market dropping rents.
“Over the last few years many tenants have exited the rental market and become owner-occupiers thanks to the low interest rates and not wanting to miss out on capital growth, this has resulted in additional rental vacancy’s hitting the market putting downward pressure on rents.
“A threat for investment are highly geared investors requiring a strong rental return to service their mortgage, an oversupply of rentals in some sectors of Sydney may result in a number of forced sales of investment properties due to serviceability issues.
“If too many sales occur at the one time this may result in a drop in values.”
The firm warns that this is a particular concern for large scale unit complexes with high investor participation rates.
“If you can’t access the property market the traditional way we have seen in the past other methods that may also work.”
The firm suggests joining forces with close friends or family to ‘group buy’ a home, buying an investment property interstate or sourcing support from their parents as alternative methods, albeit with their own pros and cons to consider.
A house and land package at <a href="https://www.realestate.com.au/property-residential+land-nsw-gregory+hills-201753326" target="_blank">Lot 462 Yass Street</a>, Gregory Hills (above) has been listed for $600,000.
Similarly a house and land package for a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cobbitty-124837746" target="_blank">Lot 1335 Goodluck Circuit</a>, Cobbitty (below) has been listed for $644,400.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/Lot%201335%20Goodluck%20Circuit.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

House and land a safer bet than off the plan units for Sydney first home buyers: HTW

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The Gold Coast house market has outperformed almost every region in Queensland over the past 12 months, according to REIQ's latest report.
The area has had its annual median house price grow by 5.8 percent to $575,000.
Only the Sunshine Coast outstripped this market for annual growth.
The Gold Coast market also had a strong quarter, growing 2.6 percent to reach a quarterly median of $590,000.   
The Gold Coast unit market bucked the state-wide trend of falling unit prices, adding 1 per cent over the quarter and 5.5 per cent over the past 12 months.
The continued massive infrastructure and construction programs have attracted workers and been a significant driver of population growth.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-carrara-124861598" target="_blank">13 Bradstone Road</a>, Carrara (above) has been listed for over $579,000, having traded for $460,000 in 2013.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-carrara-124995398" target="_blank">7 Woolmere Street</a>, Carrara (below) has been listed for $575,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/16/7%20Woolmere%20Street.jpg" alt="">
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Gold Coast house market outperforming all others: REIQ

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GUEST OBSERVER
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Federal government plans to restrict foreigners from buying more than half the homes or apartments in any new development will only discourage offshore developers from doing business in Australia.
The proposal pitched as one of a raft of possible measures in the May budget to help young Australians enter the property market would be a waste of taxpayers’ money and potentially disastrous for the economy.
Foreign buyers already faced a wide range of restrictions and fees when it comes to investing in property in Australia.
Enough is enough.
The roll-on effect if this latest proposal is included in the May budget could be an economic disaster for Australia. 
This is just a ploy from the Government to make it look like they are doing something for first home buyers but it will just discourage offshore developers from investing in Australia.
The foreign buyer restriction could be the last straw and could result in driving away foreign buyers investing in Australian property. Excessive surcharges and further restrictions on foreign buyers could also lead to fewer international students coming to Australia as well as a slower population growth and a rise in unemployment.
Most buildings developed by onshore developers rely on local funding which typically limits their sales to foreign investors at 15-20 percent of the total sales.
This was not the first-time foreign buyers have faced a limit on the dwellings they can buy in Australia.
Before 2009, there was a regulation that meant developers could only sell half of their new dwellings in any development to foreign buyers.
But this all changed when the Global Financial Crisis (GFC) hit and the then Labor government decided to abolish the foreign limit for off the plan properties. This meant foreign buyers could buy whole developments if they were marketed both locally and overseas.
 
Mark Mendel, is founder and chief executive officer of iBuyNew.com.au and can be contacted <a href="https://www.ibuynew.com.au/" target="_blank">here.</a>
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jchancellor-FAypfDUnLy

Foreign investor restrictions could be disastrous: Mark Mendel

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With developers usually cramming in as many apartments into a block as possible, ONE20 on Queens, the seven-storey mixed use project at Hurstville, will feature only three apartments per floor.
It will come with a total of 17 apartments, the smallest of which is 75 square metres, according to Ray White Projects director Eddie Mansour.
“Three apartments per floor is very rare anywhere in Sydney. They could easily have created five apartments per floor but they went with only three,” he said.
He also added that he would like to see more of this type of development in the market.
“There is a huge demand for larger apartments yet it is very rare to find boutique developments in Hurstville that cater for open space like this.
He expects they will sell quickly to the owner occupier market who are prepared to pay a premium for them.
Due for completion in late 2018, each apartment in the block designed by Kennedy &amp; Associates features a secure car space and access to a communal rooftop terrace with barbeque area.
With apartments ranging from $795,000 to $860,000 for a 75 to 77 square metre two-bedroom apartment and $850,000 to $905,000 for an 87 square metre apartment with two bedrooms and a multi-room.
“It will feature a high level of finishes and there is a mixture of timber tiles and carpet throughout the development,”
Situated at the corner of Queens Road and Carrington Avenue, the block is just a short walk to Hurstville train station, down the road from Westfield Hurstville and close to top performing schools, according to Mr Mansour.
The sales centre opens early-mid April onsite. For more information visit <a href="https://www.120onqueens.com.au" target="_blank">120onqueens.com.au</a>
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Hurstville development sets standard for larger apartments

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Westpac has raised its home loan interest rates, soon after NAB announced similar hikes, with both banks citing increasing funding costs.
But the banks are also reacting to heightened regulatory concerns as to the pace of lending.
Today ASIC chairman Greg Medcraft said he had "been saying for a while that I thought it was a bubble and other people are catching up now." 
<div>
"Its Sydney and Melbourne [where prices are rising] so I think macroprudential are useful tools."
He said there were two aspects to macroprudential policies - the "prudential" aspect which impacts capital and the "conduct" aspect which regulated responsible lending.
</div>
<div>Medcraft said ASIC had played an active role with regard to conduct citing ASIC's report on mortgage broking and on interest only loans. </div>
The country’s second-largest bank said variable home loan rate for owner occupiers will increase by 0.03 percent to 5.32 percent per annum for customers with principal and interest repayments.
For owner occupiers on a variable home loan rate and interest-only repayments, there is a 0.08 percent increase to 5.49 percent per annum. The new rates come into effect on March 24.
For investors, the increases are higher with variable loan rate rising by 0.23 percent to 5.79 percent per annum for principal and interest repayments, while for interest only repayments, the increase is 0.28 percent to 5.96 percent per annum. 
The rate hike was because of a economic and regulatory factors, said George Frazis, chief executive of Westpac Consumer Bank.
“Today’s changes are in response to increasing funding costs. Despite home loan interest rates being at historically low levels, both deposits and wholesale funding of mortgages have increased over the last nine months,” he said.
 “We understand the significance of interest rate changes to our home loan customers, so we take a very careful approach to these decisions.”   
Customers with interest only home loans who wish to move to principal and interest repayments can do so without paying a switching fee until 17 June 17, 2017.
Variable lending products for small businesses will also increase by 0.08 percent from April 3, the bank said.
Late last week, National Australia Bank lifted home loan rates by as much as a quarter of a percentage point, citing rising funding costs and increased regulation.
NAB raised its rates for owner-occupiers from 5.25 percent to 5.32 percent while for investors, it is now 5.8 percent from 5.55 percent previously. 
   
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Westpac follows NAB in raising home loan interest rates

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GUEST OBSERVER
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The unsolicited proposal for the development of the Martin Place metro station demonstrates the innovation that can come from the private sector. 
Macquarie Bank’s proposal to fund a new metro station by developing two commercial towers linked by retail arcades is good news for Sydney.
The tax payers do not have to fund the new station as a result of the development opportunities on adjacent sites.
The Martin Place station development follows a similar approach for the renewal of Wynyard station by Brookfield who own adjacent sites to Wynyard. In both cases it is the private sector that has come up with world class designs for the station infrastructure as well as for adjacent tall commercial buildings. 
Both of the new station proposals also include major retail outlets to activate the transport concourses which uses private sector expertise in making bustling public spaces.
Sydney is developing an extensive underground pedestrian network that still connects to natural light through the station redevelopments. This dry pedestrian network will be the perfect route for commuters during future wet weather like the current heavy rain that Sydney is going through.
The Urban Taskforce encourages the NSW Government to use the unsolicited proposal process in other locations where private sector innovation can deliver quality public domain outcomes.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI">here</a>.
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Private sector innovation provides quality public outcomes for Martin Place Metro

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A historic cable tram shed and workshop in North Melbourne that has been converted into a family home has been sold for $6.5 million.
It was bought three years ago for $3.35 million by car collector Chris Page because he wanted to grow his car collection.
He and his family moved from their Carlton home and renovated the historic 1918 building which had previously sold in 1978 at $155,000.
It is now a vast five bedroom home with a big garage downstairs as well as a street-facing mechanic business.
Page hoped that another like-minded car lovers will secure the property which was also advertised as a development site.
His hopes came true, as the buyer is a fellow car enthusiast who has a car collection.
The property first began as a cable tram shed in the 1920s before being converted into a tramways administration office and then finally into a Mediterranean grocer before being converted into the current home.
The reported pre-auction price indications were $5.5 million for the property that includes the mechanic business space.
The business owner would be happy to stay if the new owner wishes.
The property was offered through Jellis Craig agents John Morello and Simon Mason.
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Historic North Melbourne cable tram shed conversion sold

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The Brisbane residential property record has been broken with the sale of a three level clifftop home at Kangaroo Point.
It has been sold for $18.48 million through Ray White New Farm agent Matt Lancashire.
The sale by City Motor Auctions Group boss Angelo Russo and wife Sandra eclipses the previous Brisbane record of $14 million when Australia's richest woman Gina Rinehart bought in late 2014.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2011.56.52%20AM.png" alt="">
The vast 1445 sqm split level home with five bedrooms and six bathrooms was the work of renowned designer Greg Harris.
The eastern wing of the residence comprises a home office with adjoining board room, serviced by a kitchenette and another home office.
A fully equipped gym and steam room sit on the same floor, and there's also a sound proof cinema.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2011.58.07%20AM.png" alt="">
One of the homes most spectacular features is the heated infinity lap pool and spa, which run the length of the cliff edge with views of the river and the city.
A lower level temperature controlled wine cellar also offers commanding views.
The marketing suggests no expense had been spared by the owners, even down to the last detail, with heated Saint Lorraine marble flooring from Greece used across the living and entertaining area.
The living and entertaining areas with wood fire pizza oven and teppanyaki barbecue feature heated St Lorraine marble flooring.
Russo paid $4.74 million for the riverfront in 2009 when he bought from law partner Tony Barakat, who had paid $6.3 million just two years earlier.
This article first appeared in The Weekend Australian's Mansion Australia section.
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Brisbane residential property record broken at Kangaroo Point

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A 1905 Melbourne mansion in Malvern East, once-owned by Little River Band guitarist Beeb Birtles, was likely the nation's highest weekend auction sale.
It sold post auction at an undisclosed price, understood to be for more than $6 million.
The five-bedroom, four-bathroom house on 1400 sqm at <a href="https://www.domain.com.au/10-manning-road-malvern-east-vic-3145-2013403328" target="_blank">10 Manning Road</a> (above) originally came with $8 million plus hopes through an unsuccessful expressions of interest campaign last November.
Domain reported there was just the one bidder at $5.95 million
Harleston Firs was sold by the band member for $1,265,000 in 1991 to the current vendors.
A one bedroom, one bathroom apartment at Kingsville, some nine kms from the Melbourne CBD, sold at weekend for $210,000, making it the most cheapest sale across the capital cities.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%208.37.54%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-apartment-vic-kingsville-124745538" target="_blank">2/57 Kingsville Street</a>, (above) the property has been a $210 a week rental.
Sydney's clearance rate remains the strongest in the country. Domain economist Dr Andrew Wilson described the Sydney auction market as "relentless." 
The national capital city clearance rate increased this weekend sat at 76 per cent, compared to 75 per cent last weekend and 68.8 per cent one year ago. 
Auction activity increased over the week with 2,844 homes taken to auction, up from 1,473 last week; however this time last year, volumes were higher with 3,540 properties taken to auction.
Each individual capital city market has seen a rise in auction volumes over the week, while clearance rates have been somewhat varied, noted Kevin Brogan at CoreLogic.
The highest preliminary clearance rate was in Sydney where 83.9 per cent of auctions cleared over the week, followed by Canberra at 76.6 per cent.
Melbourne was the busiest city for auctions this week, with 1,415 homes going under the hammer.
Of the 1,059 reported auctions, 804 were successful, representing a preliminary clearance rate of 75 per cent.
One offering that didn't sell was when the comedian and writer Glynn Nicholas’ converted warehouse two-bedroom apartment passed in on a $750,000 vendor bid.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%208.38.47%20AM.png" alt="">
It now comes with an $865,000 asking price (above).
Nicholas has owned the <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-124808438" target="_blank">13/1-5 Martin Street</a> apartment since paying $190,000 in 2000, using it as an office space before converting it and recently adding a mezzanine floor.
Melbourne’s clearance rate dipped from the 79 per cent across 385 auctions on the Moomba long weekend, while last year 72 per cent of the 1,788 auctions held were successful. 
The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 204 and 145 auctions were held respectively. 
The strongest clearance rate was recorded across the North West region, where 89 per cent of auctions were successful based on 74 results.
Melbourne sales included Anthony Hudson — an SEN radio host and Fox Footy commentator - who sold in Brighton for $3.305 million.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%208.40.20%20AM.png" alt="">
It has been <a href="https://www.realestate.com.au/property-house-vic-brighton-124873658" target="_blank">four bedroom home</a> (above) with his wife Eloise and their three daughters since traded in 2010 for $2.175 million.  
The Herald Sun reported the renovated 1960s home attracted competitive bidding between two of the four bidders — topping a reserve price around $2.9 million after an opening vendor bid of $2.6 million.
This week, 962 Sydney homes were auctioned and preliminary results show 83.9 per cent were successful, representing a rise from 77 per cent last weekend across 803 auctions.
One year ago, 1,114 auctions were held across Sydney and a clearance rate of 71 per cent was recorded.
Looking at the sub-regions of Sydney, the Baulkham Hills and Hawkesbury and Ryde regions recorded the strongest clearance rate of 92 per cent across 23 and 50 auctions respectively, followed by Eastern Suburbs' 92.7 per cent.
A 1900s bungalow at Mosman fetched $5.58 million, making it Sydney's most expensive weekend auction result.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%208.41.16%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-124763630">12 Edwards Bay Road</a>, (above) the property has been held by the same family for 50 years.
With views over Balmoral Beach, the property was offered through McGrath.
There were 175 Brisbane homes taken to auction this weekend. The preliminary clearance rate for the city is 49 per cent, down from 55 per cent last week and similar to one year ago, when 49 per cent of the 284 properties taken to auction were successful. 
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%208.42.10%20AM.png" alt="">
Brisbane's top priced result was in Wilston where a city-view house sold for $1.55 million, located at <a href="https://www.realestate.com.au/property-house-qld-wilston-124729202" target="_blank">18 Main Avenue</a> (above).
Adelaide recorded a clearance rate of 64 per cent across 105 auctions this weekend, down from 73 per cent across 87 auctions last week. At the same time last year, 145 homes were taken to auction, with 67 per cent recording a successful result.
Perth’s clearance rate of 60 per cent across 58 auctions is up from the previous week, when 26 auctions were held and a clearance rate of 39 per cent was recorded. Over the same week last year, the clearance rate was a lower 36 per cent, and 81 auctions were held.
In Canberra, 113 auctions were held this week, and of the 64 reported results, 76 per cent were successful. Last week, 45 auctions were held and the clearance rate was a lower 67 per cent. This time last year, 119 auctions were held and a clearance rate of 67 per cent was recorded.
A resort style Yarralumla home sold for $2.275 million, making it Canberra’s most expensive sale on the weekend.
<img src="https://www.urban.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%208.43.21%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-house-act-yarralumla-124814718" target="_blank">7 Drummond Row</a>, (above) it was five bedroom home positioned in a quiet, blue ribbon cul-de-sac. 
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