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.

Joel Robinson

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

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

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.

[smartcode_project:default project_id=145922 project_image_fid=373556]

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."

[smartcode_project:default project_id=145922 project_image_fid=373559]

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.

[smartcode_project:default project_id=145922 project_image_fid=373583]

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.

[smartcode_project:default project_id=145922 project_image_fid=373571]

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.

[smartcode_project_cta:default project_id=145922]

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 41-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.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 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."

[smartcode_project:default project_id=6515 project_image_fid=360215]

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."

[smartcode_project:default project_id=6515 project_image_fid=68839]

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."

[smartcode_project:default project_id=150017 project_image_fid=374052]

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.

[smartcode_project:default project_id=150017 project_image_fid=372547]

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

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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GUEST OBSERVER
If a heatwave hit Melbourne and the power blacked out, most apartment buildings would bake, with indoor temperatures exceeding international health standards, according to a new <a href="https://www.thrive-research.com.au/wp-content/uploads/2017/02/Living-Well-Report-Final-for-issue-080317.pdf">a</a>nalysis that calls for Australia to adopt standards to protect occupants against heat stress.
Researchers at the University of Melbourne modelled six common apartment designs in the city and all six failed standards for new buildings set in France, the UK, Germany and the US. There are no health standards to ensure against heat stress in the Building Code of Australia.
Lead researcher and construction scientist Mr Chris Jensen, from the Melbourne School of Design, said the results are a wake-up call given the risk of heatwaves. He says it’s time Australia catches up with other countries to adopt similar standards for new buildings, and he says action is needed to encourage the retrofitting of existing buildings.
He suggests that just as all buildings have energy ratings, the government could introduce “summer comfort” ratings on apartments to reduce heat stress for occupants and incentivise owners to upgrade their buildings.
“The research highlights to the public that heat stress inside apartments is a real issue and that we need to do more to control for this, not only in new buildings, but also for existing buildings,” said Mr Jensen. 
“It isn’t a new problem, but climate change science expects more frequent and possibly longer heatwaves, so the health risk is only going to increase.
“What we need to be concerned about are existing apartment buildings that lack air conditioning and are susceptible to overheating, but we also need to be concerned about most buildings should a heat wave coincide with a power black out which would eliminate all air-conditioning.”
Such an “event” is far from fanciful given the blackouts that hit South Australia in February 2017 and warnings of possible load shedding in Sydney during the recent NSW heatwave.
France introduced “summer comfort” standards after the 2003 heatwave there estimated to have caused over 14,800 deaths, with the elderly particularly vulnerable. The French standards require that without the use of air conditioning, building design should ensure that temperatures inside rooms don’t exceed 28 degrees for more than 3 per cent of the year - equivalent to 260 hours.
The researchers modelled how six common Melbourne apartment designs could cope with excessively high temperatures by testing them against the heatwave conditions that hit Melbourne in January and February 2009, which included the Black Saturday bushfire disaster of 7 February. That heatwave included three straight days when the temperature topped 43 degrees, while nighttime lows exceeded 25 degrees. 
They also chose a worst-case scenario by modelling west-facing apartments that are most exposed to the sun. All six sample apartments failed the four international standards they were tested against.
“We modelled both old and new apartment designs, including an example of a recent and best practice design, so it is fair to say that most other west-facing apartments in Melbourne would fail these international standards under these conditions, and quite possibly those in other orientations,” Mr Jensen says.
Some common reasons why the apartment designs failed included:
<ul class="ul1">
<li class="li9">Single glazed windows with poorly insulated frames</li>
<li class="li9">Lack of insulation generally</li>
<li class="li9">Poor natural ventilation</li>
<li class="li9">Aged weather stripping that provided only moderate draft protection</li>
</ul>
Mr Jensen says it is possible that under a standard tailored to the Australian climate more buildings would pass, since it could reflect the fact that locals are more accustomed to hotter conditions. But he warns it is still likely many existing apartments wouldn’t meet a new standard. He says current building standards governing energy use only indirectly address “summer comfort” since they aim to reduce cooling energy requirements. He says more explicit heat stress standards, which measure a building differently, are needed to ensure designs directly took account of the health risks.
“As a priority we need to introduce into the building code our own ‘summer comfort’ standards that are tailored to our own climate, and simultaneously efforts to retrofit buildings to reduce over heating need to be prioritised on high risk cases.” He said such high risk cases include west facing apartments with lots of glass and buildings where vulnerable people such as the elderly may be housed.
He says introducing standards for new buildings would be relatively easy and wouldn’t impose significantly higher costs on building design and construction. The big problem, he says, will be in funding the retrofitting of existing buildings. He says owners and governments would likely be reluctant to meet the cost of widespread retrofitting.
A more effective short-term solution might include an apartment heat stress rating system, to alert potential buyers and occupants about the comfort of the apartment.
“This would strategically drive the market to improve performance,” says Mr Jensen.
“It is unlikely many building owners will be prepared to invest perhaps millions of dollars in retrofitting unless they feel they have to. But a comfort rating would change the equation because occupants will be able to compare the rating on buildings, giving owners an incentive to ensure their buildings are attractive.”
Beyond standards and designs, Mr Jensen says there needs to be greater awareness among occupants of what they can do in heatwave conditions to keep themselves comfortable. He says educating occupants to open windows and balcony doors is an effective way of allowing buildings to cool naturally, at no cost. He also suggests that people close off a room during a heatwave to keep it relatively cooler as a place to retreat to. People can also make decisions to leave their apartments and spend time at air-conditioned locations such as shopping centres and cinemas.
“Just as the government has a bushfire advisory program, it would also be a simple strategy to provide advice for what to do during heat waves,” he says.
To improve existing buildings, the study found the easiest and most effective strategies for apartments include:
<ul class="ul1">
<li class="li9">improving ventilation, both in the fabric of the apartment and operated by occupants (like opening a window)</li>
<li class="li9">using external heat-reflective coating and paint</li>
<li class="li9">installing appropriate shading.</li>
</ul>
Andrew Trounson, is senior journalist, Pursuit, University of Melbourne and can be contacted <a href="https://pursuit.unimelb.edu.au/articles/contact-the-pursuit-team" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Why Melbourne apartments are failing the heat stress test

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<img src="https://counter.theconversation.edu.au/content/73842/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The “bank of mum and dad” is helping young Australians with more than just their housing aspirations.
New analysis of data on children receiving an inheritance or cash payment from their parents has found they are more likely to be involved in business startups, financial risk-taking and entrepreneurial ventures, and receive other benefits to those without wealthy parents.
The bank of mum and dad is an expression coined to describe parents generously helping their children to get onto the home ownership ladder. We already know that parental transfers are helping Gen X and Gen Y children break into home ownership, in a market considered unaffordable by international standards.
While some are angered by the growing intergenerational wealth divide between the millennials and their baby boomer parents, estimates from the Household, Income and Labour Dynamics in Australia (HILDA) survey show many young people are benefiting from the wealth of their parents.
Between 2002 and 2012, 1.8 million Australians received an inheritance on one or more occasions. There was an average transfer of A$95,000 per beneficiary over the period. An even higher number (5.8 million) received cash transfers from surviving parents. These gifts averaged A$9,000 per recipient.
Housing assets remain the most important component of households’ wealth portfolios. The majority of households will therefore directly or indirectly draw down on housing wealth to finance monetary gifts to others while they are still alive. The family home is also typically the largest asset bequeathed when parents pass on.
Moreover, booming real house prices have boosted inheritances. At the same time, flexible mortgages have enabled parents to dip into their housing wealth to finance cash gifts to their children.
More than a leg up the housing ladder
A recent Australian Housing and Urban Research Institute report has shed new light on how financial gifts from parents help shape young people’s economic opportunities.
The study matches every person benefiting from an inheritance or parental cash transfer to a “control” person who is not a beneficiary, but has otherwise similar personal characteristics.
We found that the bank of mum and dad is helping young Australians with more than just their housing.
Intergenerational transfer beneficiaries are more likely to hold a bachelor’s degree than non-beneficiaries. Among those who receive cash payments from their parents, 29% hold a bachelor’s degree compared to 21% of the control group who do not receive such transfers. Bequest recipients have double the average bank deposit account balance of the matched controls. These larger financial holdings can be used to buffer income shocks, and as collateral to relax borrowing constraints.
Beneficiaries might therefore be willing to take more risks. They are also better positioned to borrow and finance business startups that might not otherwise get off the ground. These ideas are supported by the data.
A higher percentage of those enjoying access to the bank of mum and dad have set up their own business. 22% of heirs to a bequest are self-employed. In comparison, only 16% of the matched controls were self-employed. Similarly, 17% of those receiving cash payments from their parents are self-employed, compared to 11% of the matched controls.
The findings suggest that the bank of mum and dad could play a role in lifting economic growth through multiple channels. These include business startups, financial risk-taking and entrepreneurial ventures.
Bridging an intergenerational divide or widening an intra-generational gap?
It seems the bank of mum and dad is recycling large amounts of housing wealth to the next generation through intergenerational transfers; and it is an increasingly important pillar supporting educational, housing and business opportunities. However, this is a “leg up” that only benefits those fortunate enough to have parents that are able and willing to transfer wealth.
The business opportunities, educational gains and home ownership status that these transfers promote will create a growing divide among younger Australians. Those whose parents own a home are able to take advantage of a wider set of opportunities than others.
As the home ownership dream fades for growing numbers of Australians, this divide will become more conspicuous. Life time renting is a prospect that many Gen X and Gen Y parents are having to contemplate. Unless Australian governments reverse the decline in home ownership, their children will in turn be bypassed by the intergenerational circulation of housing wealth.
These concerns should provide added impetus as governments strive to improve housing affordability, and restore the home ownership society older Australians take for granted. If our governments fail in this regard we could very well witness further entrenchment of inequality in decades to come.
<a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">Rachel Ong</a> is Deputy Director, Bankwest Curtin Economics Centre, Curtin University.
<a href="https://theconversation.com/profiles/gavin-wood-113723" target="_blank">Gavin Wood </a>is Professor of Housing, RMIT University.
<a href="https://theconversation.com/profiles/melek-cigdem-bayram-181846" target="_blank">Melek Cigdem-Bayram </a>is Research Fellow, RMIT University.
All are authors for The Conversation.
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Not everyone wins from the bank of mum and dad

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<div>It certainly seems that way.</div>
<div> </div>
<div>New South Wales investor loans burned 49 percent higher than a year earlier in January as investors chase Sydney property prices higher. 
</div>
<div>In Victoria, investor loans were up by 35 percent, with Melbourne dwelling prices also rising. </div>
<div> </div>
<div>On the flip side, the value of investor loans in Western Australia was down by 16 percent year-on-year. </div>
<a href="https://www.propertyobserver.com.au/images/2017/03/16/A1.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/2017/03/16/A1.jpg" alt="">
In Darwin and the Northern Territory, meanwhile, the value of investor loans has dropped to the lowest level in a decade.
<a href="https://www.propertyobserver.com.au/images/2017/03/16/A2.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/A2.jpg" alt=""></div>
 Such can be the reflexive nature of markets. Total lending pulls back
<div>Overall, January wasn't a particularly strong month for total lending according to the Australian Bureau of Statistics (ABS), with a decline in commercial lending in the month. </div>
<a href="https://www.propertyobserver.com.au/images/2017/03/16/A3.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/A3.jpg" alt=""></div>
<div class="separator"> </div>
<div>After a recent spike in November - a near record month - total lending pulled back quite sharply at the beginning of 2017. In fact, the result for total lending at $67.6 billion was a 5-month low. </div>
<a href="https://www.propertyobserver.com.au/images/2017/03/16/A4.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/A4.jpg" alt=""></div>
Meanwhile, investors pile into Sydney and Melbourne, fearful of changes being made to legislation.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
 
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pwargent-M4siyDbqQY

Rising prices beget more buyers?

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The redevelopment of a new shopping precinct in Yarrabilba is underway, with several new major names set to move into the new centre later this year.
The District Centre which spans the area between Yarrabilba Drive, Wongawallan Drive, Waldron Street and Darlington Drive, has signed Coles, McDonald’s and a family medical centre to join an IGA anchored convenience centre, 24-hour Caltex service station and Star Mart, cafes and medical centre.
Managing director of Lendlease’s communities business in Australia, Matthew Wallace, said the development was evidence of the growing popularity of Yarrabilba.
“Attracting residents and locals alike means developing a central hub with the end user in mind and catering for the needs of the community as it continually grows and evolves,” he said.
“We are focused on creating the best places and providing our residents as early as possible with options for dining, great shopping and entertainment.”
<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/2017/03/13/Aerial%20view%20of%20Coles%20construction_Feb%202017.jpg" alt="">
Coles state general manager, Paul Bradshaw said Coles would create around 100 retail jobs once the 3,200 square metre full line supermarket was complete.
“It is part of an investment by Coles of more than $30 million in the Logan Council over the past two years, which is testament to the confidence we have in the future of the region,” he said.
McDonald’s head of property for Queensland and Northern Territory, Luke McGuire, said they were excited to bring the latest style of McDonald’s restaurant to Yarrabilba.
“We’re dedicated to supporting the local community and, through our partnership with Lendlease and Coles, we’re looking forward to helping it grow by offering employment to approximately 90 locals,” he said.
Prices in the centre start from $270,000, commercial / mixed unit sites range from 819 square metres to 1243 square metres.
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j.ballantyne1990-6AQqhLzZaK

Yarrabilba shopping precinct development secures major retail names

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A 237 square metre retail shop at Geelong has been sold.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-geelong-502225758" target="_blank">80 Ryrie Street</a>, the CBD property, close to the Corio Bay Foreshore Reserve, was offered with a guidance of $550,000 plus GST.
It has frontage and exposure in a professional services district.
It was offered through Colliers International agents Ben Young and Jonathon Lumsden.
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Geelong CBD retail shop sold

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Perth’s home value have declined over the last 12 months, according to CoreLogic’s latest report.
The property data firm says that Perth’s home values are down by 3.4% over this time period.
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.24%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/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.24%20pm.jpg" alt="">
This is in contrast to Sydney’s home value which has increased by 18.5%.
Adelaide has seen the second lowest home value change over the last 12 months, with values increasing by 2.7%.
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Perth home values fall 3.4% over past year: CoreLogic

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The Inner South region of Melbourne had the highest auction clearance rate over the weekend, according to CoreLogic’s latest report.
The property data firm says that out of the 14 auctions known in the Inner South 92.9% were cleared.
This is followed by the Inner East with 92.5% and the Mornington Peninsula with 89.5%.
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2011.08.13%20am.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/2017/03/13/Screen%20Shot%202017-03-13%20at%2011.08.13%20am.jpg" alt="">
The Inner region had the lowest auction clearance rate with only 73.1% of auctions cleared.
A two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-vic-port+melbourne-124734366" target="_blank">14/120 Princes Street</a>, Port Melbourne (above) was recently sold.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-newport-124740438" target="_blank">1/19 Percy Street</a>, Newport (below) was sold for $1.05 million.
<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/2017/03/13/1_19%20Percy%20Street.jpg" alt="">
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Melbourne's Inner South region scores highest auction clearance rate: CoreLogic

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Ryde had the highest auctions cleared over the weekend in Sydney, according to CoreLogic’s latest report.
The property data firm says that out of the 37 auctions known to CoreLogic in Ryde 94.6% of them were cleared.
This is followed by the Northern Beaches with 90.9% and North Sydney and Hornsby with 90.2%.
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2011.08.04%20am.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/2017/03/13/Screen%20Shot%202017-03-13%20at%2011.08.04%20am.jpg" alt="">
The Outer South West region had the lowest clearance rate with only 41.7% of auctions cleared.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-lane+cove-124721642" target="_blank">25 Farran Street</a>, Lane Cove (above) was sold for $2.61 million.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-eastwood-124740670" target="_blank">1 Spencer Street</a>, Eastwood (below) was sold for $2.19 million.
<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/2017/03/13/1%20Spencer%20Street.jpg" alt="">
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94% of auctions in Ryde cleared over the weekend: CoreLogic

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Auction results continue their strong run into March, with Sydney and Melbourne recording an 80% clearance rate over the first week of the month, according to CoreLogic’s latest report.
The property data firm says that after recording the strongest result since June 2015 last week, the preliminary clearance rate across the combined capital cities fell slightly this week, from 78.4% to 77.8%, based on preliminary results.
The number of auctions held across the capitals this week was lower, with 2,714 held, compared to 3,301 over the previous week which was a record high for February.
In comparison, over the corresponding week last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,304 auctions held and 68.6% reported as successful.
Sydney saw the clearance rate remain above 80% for the fourth week in a row, and Melbourne for the second week in a row, while across the remaining cities; week-on-week results show a fall in clearance rates with the exception of Perth where results improved, and Tasmania, which remained unchanged over the week.
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.54.36%20am.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.54.36%20am.png" alt="">
This week, Melbourne was host to 1,399 auctions and preliminary results show a clearance rate of 80.4%, down slightly from last week’s final clearance rate of 81.0% across 1,635 auctions.
At the same time last year, Melbourne’s clearance rate was 72.1%, with 1,236 auctions held across the city.
Looking at Melbourne’s sub-regions, the Inner region was the busiest for auctions across Melbourne with 295 homes going under the hammer, followed by Inner South (260) and Inner East (179).
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.33%20am.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/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.33%20am.jpg" alt="">
The North East region was the best performer in terms of Melbourne clearance rates, with an 87.6% success rate across 133 auctions.
Sydney’s preliminary auction clearance rate increased to 80.5% from 80.0% last week, the 4th week in a row where clearance rates have been at or above 80%.
Auction volumes were lower this week with 886 homes taken to auction, compared to 1,210 last week.
The city maintains a much higher clearance rate than what was seen over the same week last year, when a clearance rate of 68.7% was recorded across 708 auctions.
This week, the performance across Sydney’s individual sub regions was varied.
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.39%20am.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/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.39%20am.jpg" alt="">
Across the South West region, where 47 results have been reported so far, the preliminary clearance rate was 66%, while across City and Inner South (88%) and Northern Beaches (88%), the success rate of reported auctions was much higher.
Across Brisbane, the preliminary clearance rate was 59% this week, down from 62% last week and higher than one year ago (50%).
Auction volumes were also down with 148 auctions held across Brisbane this week, compared to 176 last week and a lower 133 last year.
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.46%20am.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/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.46%20am.jpg" alt="">
A total of 120 auctions were held in Adelaide this week, down from 122 last week, although higher than last year (99).
Preliminary results for the week show 69% sold, down from 71% last week when the city recorded the highest clearance rate for the year to date.
<a href="https://www.propertyobserver.com.au/images/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.52%20am.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/2017/03/5/Screen%20Shot%202017-03-05%20at%2010.55.52%20am.jpg" alt="">
The preliminary clearance rate for Perth this week was 36%, compared to 30% last week and 21% last year.
This week 36 Perth auctions were held with 11 results reported so far.
Canberra’s clearance rate fell to 70% this week, after being recorded at 76% last week.
There were 116 auctions held across Canberra this week, up from 103 last week.
One year ago, 67% of Canberra’s 88 auctions cleared.
There were nine Tasmanian auctions held this week and with seven results reported so far this week, four have sold.
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Auction results strong with 80% clearance for Sydney and Melbourne: CoreLogic

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In the Clarence Valley there are opportunities for first home buyers to purchase a property that is ripe for renovation, according to HTW’s Month in Review: March 2017. 
The valuation firm says there is a range of townhouses available below $400,000 in Yamba and in Maclean, where less than 30% of recent recorded sales were over $400,000.
“Residential development in Townsend is creating an appealing product marketed to first home buyers,” it says.
“This locality has both vacant land and house and land packages available for less than $500,000.”
HTW suggests these areas for home buyers:
• Townsend – Suited to first home buyers that are interested in a brand new product. Townsend creates a perfect environment for vacant land as well as land and housing packages - that are available for less than $500,000.
• Maclean – Suited to first home buyers in the market for perhaps an older product, holding the potential/opportunity for renovation
• Yamba – Suited to first home buyers that are in the market specifically for townhouses/ units. This area provides the most opportunity/widest range of different units for sale.
“Often a premium is paid for brand new product and this may not always be recouped at the time of the next sale if the market has not continued to benefit from capital gains,” HTW says.
“However, there are no overwhelming dangers for these buyers given current market conditions.
“The biggest mistakes that you see first time buyers making in this area is that it is possible that they may overcommit or forget the illiquid nature of property as an asset.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-maclean-124709222" target="_blank">57 Woodford Street</a>, Maclean (above) has been listed for $315,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-townsend-124631734" target="_blank">32 Jubilee Street</a>, Townsend (below) has been listed for $227,500.
<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/2017/03/09/32%20Jubilee%20Street.jpg" alt="">
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