<p>A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.</p>

<p>The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.</p>

<p>Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.</p>

<p>Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.</p>

<p><img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" /></p>

<p>Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.</p>

<p>Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.</p>

<p>Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.</p>

<p>The appeal of Rainbow Bay has extended well beyond the surfing community.</p>

<p>International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".</p>

<p>The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.</p>

<p>Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.</p>

<h2>Boutique project draws owner-occupiers</h2>

<p>Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.</p>

<p>The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.</p>

<p>Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.</p>

<p>The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.</p>

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

<p>S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.</p>

<p>After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.</p>

<p>Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.</p>

<p>He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a></em></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

<p>Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.</p>

<p>The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.</p>

<p>The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.</p>

<p>Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.</p>

<p>“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass.<br />
<br />
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”</p>

<p>He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.</p>

<p>Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.</p>

<p>The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;</p>

<p>New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;</p>

<p>Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.</p>

<p>"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;</p>

<p>NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;</p>


Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

<p>Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.</p>

<p>For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.</p>

<p>Online shopping has become one of the clearest examples of that change.</p>

<p>Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.</p>

<p>For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.</p>

<p>That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe></p>

<p>Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.</p>

<p>The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.</p>

<p>For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.</p>

<p>As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.</p>

<p>It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.</p>


Apartment design is adapting to the way Australians shop

<p>While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.</p>

<p>Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.</p>

<p>SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.</p>

<p>"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.</p>

<p>"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=367129]</p>

<p>Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.</p>

<p>Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.</p>

<p>Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.</p>

<p>The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6393]</p>

<p>Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.</p>

<p>"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.</p>

<p>"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."</p>

<p>Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6402]</p>

<p>The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.</p>

<p>Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.</p>

<p>"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6383]</p>

<p>The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.</p>

<p>Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.</p>

<p>The Walden is currently under construction and is scheduled for completion in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

<p>The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.</p>

<p>The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.</p>

<p>The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" /></p>

<p>&nbsp;</p>

<p>Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.</p>

<p>At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.</p>

<p>Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.</p>

<p>"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."</p>

<p>"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" /></p>

<p>DKO said the design had been shaped by the site's landscape setting and surrounding open space.</p>

<p>"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."</p>

<p>"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."</p>

<p>The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.</p>

<p>The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.</p>

<p>Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.</p>


Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

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<div>The latest AMP.NATSEM Household Debt report showed that the average household debt in Australia has increased to a new high of $245,000, continuing a prolonged run-up which has seen the average debt per household increase by a factor four since 1988, up from $60,000.</div>
<div> </div>
<div>While the bulk of the rise in mortgage debt has been driven by 30 to 50 year olds, the over 65s cohort also accounts for a fair proportion of the increase in household debt, with more Australians than ever before taking liabilities into retirement.</div>
<div> </div>
<div>Despite this, the latest Australian National Accounts implied that interest serviceability has continued to become easier.</div>
<div> </div>
<div>There are a thousand possible ways to measure this, nine of which is satisfactory: the blue points on the chart below denote interest paid on dwellings as a percentage of total employee compensation minus income tax, while the red points show total interest paid inclusive of consumer debt (excluding unincorporated enterprises) as a percentage of gross household income.</div>
<div> </div>
<div><a href="/images/2015/12/14/Interest.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/14/Interest.jpg" alt=""></div>
<div> </div>
<div>
<div>You could spend forever debating what should or should not be included in household income (imputed interest on dwellings, benefits receivable etc.) or backed out of gross household income (e.g. other taxes, transfers, insurance premiums etc.) but the results tend to be broadly similar. </div>
<div> </div>
<div>Of course the results generally appear to be "too low" due to the significant number of debt free households. The important thing to note is the trend, which shows that while the mining boom was in full swing the aggregate mortgage interest repayment burden was tending towards excruciating levels by September 2008 (when the official cash rate was still as high as 7 per cent). but since that time serviceability has become relatively speaking very easy.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Buffers at record highs</span></strong></div>
<div> </div>
<div>The Reserve Bank of Australia (RBA) has noted in its Financial Stability Review that indicators of household financial stress are presently low, with households pushing ahead on repayments to the extent that aggregate mortgage buffers - as measured by balances in offset and redraw facilities - remain at around 16 per cent of outstanding loan balances, or the equivalent of well over two years of scheduled repayments at current interest rates. </div>
<div> </div>
<div><a href="/images/2015/12/14/Buffers.gif" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/14/Buffers.gif" alt=""></div>
<div> </div>
<div>
<div>Loan arrears and mortage delinquencies data are also tracking at historically low levels, with favourable delinquency developments having cascaded lower since the 2008 book year. </div>
<div> </div>
<div>A crude comparison the aggregate interest paid to the total stock of outstanding housing credit implies that the average mortgage rate is well under 5 per cent, suggesting in turn that Australians have taken advantage of the very generous fixed rates available through 2015.</div>
<br><div class="separator"> </div>
<strong><span style="text-decoration: underline;">The outlook</span></strong><br><br><div>The first chart above shows the sensitivity of household finances, and especially mortgage repayments, to the unpredictable changes in interest rates. Mortgage repayments are on average clearly very affordable now, but may not be so if interest rates rise sharply.</div>
<div> </div>
<div>The AMP.NATSEM report found that the highest typical debt repayment burdens are to be found in the outer suburbs of our capital cities.</div>
<div> </div>
<div>If interest rates were to rise by 2.5 percentage points - essentially the equivalent of ten interest rate hikes - then the most indebted households could see mortgage repayments rise from 42 per cent of household income to a stress-inducing 58 per cent, while perhaps unsurprisingly the most indebted low income households would be the hardest hit of all.</div>
<div> </div>
<div>An increase in interest rates of 2.5 percentage points would also see repayments for the typical first homebuyer rising from 21 per cent to 30 per cent of household income, or a shade over an extra $8,000 per year.</div>
<div> </div>
<div>There are few indications that the official cash rate is set to move materially higher any time soon, although shifts in capital requirements and funding costs may be another matter. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Fragile markets</span></strong></div>
<div> </div>
<div>Unemployment rates have generally been trending down since January 2015, although unemployment rates in Western Australia and the Australian Capital Territory are in an uptrend, and the housing market in Darwin looks exceptionally fragile.</div>
<div> </div>
<div><a href="/images/2015/12/14/UERATE.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/14/UERATE.jpg" alt=""></div>
<div> </div>
<div>
<div>Although household financial stress is currently low, it seems likely that there will be some vulnerable housing markets in 2016, which may include;</div>
<div> </div>
<div>-resources regions and markets, with the terms of trade crunch likely to result in multiple mass lay-offs to add to the winding down of capital investment;</div>
<div> </div>
<div>-suburbs and sub-regions which are experiencing extensive over-building of apartments. particularly inner city high-rise stock, and those areas with already elevated and rising vacancy rates; </div>
<div> </div>
<div>-off-the-plan developments which will be adversely impacted by APRA's tougher deposit measures; and</div>
<div> </div>
<div>-outer suburban fringe locations in Sydney which saw a massive spike in investor activity and rapid price growth in 2015.</div>
<div> </div>
<div>I'd include a generic entry here for "mining towns", but many have been so utterly smashed already, leading to investor defaults and bankruptcies, since not only were prices unsustainable, so too were rents, and even tenancies. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Auctions</span></strong></div>
<div> </div>
<div>Sydney's preliminary auction clearance rate rebounded a bit to 55.2 per cent this week, with outer suburban markets looking particularly dormant, The strongest auction market was a resurgent inner west, with a strong preliminary auction clearance rate of 74.6 per cent (<em>CoreLogic-RP Data</em>).</div>
<div> </div>
<div>This month's Labour Force data showed that New South Wales economy has generated a seasonally adjusted +176,000 jobs over the past year, for an outrageous employment growth rate of +4.9 per cent (trend +160,000 jobs, or +4.4 per cent). The Detailed Labour Force figures, which provide more colour by city, region and industry will be released on Thursday. So stay tuned for that and more this week. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
</div>
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pwargent-M4siyDbqQY

Record household debt of $245,000: Pete Wargent

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<p><span>There were 2,948 auctions held across the combined capital cities this week, with a preliminary auction clearance rate of 59.3%. </span></p>
<p><span>Last week, a clearance rate of 57.3% was recorded across 3,252 capital city auctions, the lowest clearance rate since February 2013. At the same time last year, both auction volumes and the auction clearance rate were stronger, with a clearance rate of 65.5% across 3,511 residential auctions.</span></p>
<p><a href="/images/2015/12/14/20151214-Capital-city.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/12/14/20151214-Capital-city.jpg" alt="" width="754" height="568"></span></p>
<p> </p>
<p><span>Across </span><strong>Melbourne</strong><span>, 1,561 homes were taken to auction this week, compared to 1,622 last week, while the clearance rate strengthened slightly to 65.7%, up from 63.3% over the previous week. Looking back at last year, a clearance rate of 68.6 per cent was recorded across 1,585 auctions. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the Inner South region. So far, CoreLogic RP Data has collected 193 results for the region and the preliminary result shows 72.5 per cent of these auctions were successful.</span></p>
<p><a href="/images/2015/12/14/20151214-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/12/14/20151214-Melbourne.jpg" alt="" width="849" height="569"></span></p>
<p> </p>
<p>I<span>n </span><strong>Sydney</strong><span>, 869 auctions were held this week, down from 1,070 over the previous week. The preliminary clearance rate of 55.2 per cent is an improvement, compared to last week, when the final auction clearance rate for the city was 52.9 per cent, the lowest clearance rate Sydney has seen since December 2012. Despite the slight strengthening over the week, Sydney’s current clearance rate remains significantly lower than one year ago, when a clearance rate of 69.8 per cent was recorded across 1,357 auctions. Looking at the sub-regions of Sydney, the Inner West region recorded the strongest clearance rate of 74.6 per cent across 55 auctions, while the Inner South West region had the highest volume of auctions (126).</span></p>
<p><a href="/images/2015/12/14/20151214-Sydney.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/12/14/20151214-Sydney.jpg" alt="" width="849" height="573"></p>
<p><strong>Brisbane</strong><span> was host to 180 auctions this week and so far 126 results have been reported, with a preliminary success rate of 46 per cent. Last week, auction volumes across the city were higher with 203 auctions held and a clearance rate of 42.2 per cent. Unlike Brisbane, the number of homes taken to auction this week increased across the </span><strong>Gold Coast</strong><span> with 87 properties scheduled for auction this week, compared to 66 last week. Of the 52 results reported so far, 36.5 per cent were successful.</span></p>
<p><a href="/images/2015/12/14/20151214-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/12/14/20151214-Brisbane.jpg" alt="" width="818" height="546"></span></p>
<p> </p>
<p><strong>Adelaide</strong><span> recorded a clearance rate of 51.6 per cent across 151 auctions this week, down from a stronger 60 per cent across 138 auctions last week. At the same time last year, 171 homes were taken to auction, with 55.7 per cent recording a successful result.</span></p>
<p><a href="/images/2015/12/14/20151214-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/12/14/20151214-Adelaide.jpg" alt="" width="799" height="542"></span></p>
<p> </p>
<p>In <strong>Perth</strong>, 58 auctions took place this week, with 25 results reported so far. Perth’s preliminary clearance rate of 40 per cent across these reported results is higher than both last week’s result (36 per cent) and the clearance rate from one year ago (22.5 per cent).</p>
<p><strong>Canberra’s</strong> preliminary auction clearance rate of 48.6 per cent this week is lower than last week, when the final auction clearance rate was 57.5 per cent, and also lower than the 56.9 per cent recorded last year.</p>
<p>There were 17 <strong>Tasmanian</strong> auctions held this week. So far 10 results have been reported with 2 sales.</p>
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smiller-vwPjRHTkST

Preliminary clearance rate strengthens: CoreLogic RP Data's Shana Miller

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<p><span>The past 12 months mark one of the state’s strongest residential property markets we have seen in recent years. </span></p>
<p><span>More homes went to auction than ever before with multiple records falling, including the highest number of auctions held in a single day, weekend and year. High transaction volumes, low interest rates and buyer and vendor confidence all contributed to strong capital growth. As the year draws to a close, it is timely to review the market in 2015 and the outlook for Victoria in 2016.</span></p>
<p><span><strong>TRANSACTIONS &amp; AUCTION VOLUMES</strong></span><span style="line-height: 1.3em;"> </span></p>
<p><span>Transaction volumes in Victoria have been at their highest in five years with around 116,000 sales in the year to November 30. This is a 5% increase on last year when there were 110,400 transactions. </span></p>
<p><span>In the year to November 30, around 40,000 auctions have been held with almost 30,000 homes selling under the hammer. Just over 37,000 of those auctions were held in Melbourne, compared to 2,500 in regional Victoria where private sales are more popular.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>The key to the 2015 market has been auction levels, which have hit an all-time high in recent months. In the last weekend in November, multiple national auction records fell including most auctions in a single day with 1,648 auctions held  - 22 more than the previous record which was set in October last year. November 2015 was also a record month for auctions with 5,669 auctions held – 259 more auctions than the previous record month (November 2014). </span><span style="line-height: 1.3em;"> </span></p>
<p><span><strong>MEDIAN PRICE GROWTH</strong></span></p>
<p><span>Significant house price growth has been recorded in metropolitan Melbourne throughout 2015 with the median surpassing the $700,000 barrier for the first time ever in the September quarter. Growth has been widespread across the city, with price increases recorded in all three regions – inner, middle and outer. </span></p>
<p><span>Growth has been consistent during the year. In the first quarter of 2015, the median house price topped $671,000, up from $664,500 in December 2014. Suburbs in the city’s south east experienced the highest growth in the first three months of the year with Mount Waverley, Bentleigh and Beaumaris all up more than 16% on 2014 figures. </span></p>
<p><span>Solid price growth continued in the June quarter with metropolitan Melbourne’s median house price almost reaching $700,000, at $698,000. Melbourne’s eastern suburbs recorded the highest median house price growth in the quarter with Templestowe, Glen Waverley and Balwyn North all rising by at least 17%. </span></p>
<p><span>The September quarter saw the city’s median house price rise 4.5% to a record high $729,500. Bayside suburbs Brighton, Dromana and Seaford topped the highest growth suburbs in the third quarter of the year, up more than 17 per cent on June quarter figures. </span></p>
<p><span>House prices have also increased in regional Victoria over the year with the median house price hitting $347,000 in the three months to September 30. This was up from $341,000 in the first quarter of 2015. </span></p>
<p><span><strong>MILLION DOLLAR SUBURBS</strong></span></p>
<p><span>Buyer demand in traditional million dollar suburbs has pushed up the median house price in neighbouring areas. As a result of the ripple effect, more of these suburbs have joined the million-dollar club this year. There were 61 suburbs valued at $1 million or more in the March quarter, and this has since increased to 87 in the September quarter. Toorak remains Melbourne’s most expensive suburb with a median house price of almost $4 million. This is followed by Canterbury and Balwyn with median house prices of $2,430,500 and $2,281,000 respectively.</span></p>
<p><span><strong>LOOKING AHEAD</strong></span></p>
<p><span>While clearance rates moderated slightly in November, they have still been strong given the record auction levels – and continuing high auction numbers to late 2015 indicates a high level of vendor confidence.</span></p>
<p><span>The mix of population increases, a robust economy and relatively low interest rates is likely to also encourage buyer interest moving forward.  </span></p>
<p><span>Across Melbourne, the market is likely to remain steady, with solid growth in a range of areas across the city. This growth is likely to be strongest in Melbourne’s inner and middle suburbs, which have seen strong buyer interest in recent months. </span></p>
<p><span>While this growth may not be as strong as what has been experienced this year – with up to five per cent increases per quarter – a city-wide population upturn and low interest rates both signal consistent buyer demand in the first quarter, and into the second quarter, of the new year. </span></p>
<p><em>‎Enzo Raimondo is chief executive officer of <a href="https://www.reiv.com.au" target="_blank">The Real Estate Institute of Victoria</a>.</em></p>
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enzoraimond-7fvRFHPR52

Melbourne auction activity at all time high: REIV's Enzo Raimondo

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<p><span>The most expensive property reported sold at weekend auction was a four-bedroom home at 157a Seaforth Crescent Seaforth sold for $5,700,000 by LJ Hooker Seaforth.</span></p>
<p>The deep waterfront comes with <a href="https://www.realestate.com.au/property-house-nsw-seaforth-121184690" target="_blank">pontoon and jetty</a>.</p>
<p><span>A three-bedroom unit at 21/51-55 Upper Pitt Street Kirribilli sold by LJ Hooker Wahroonga for $5,500,000.</span></p>
<p><span>A four-bedroom unit at 3 Parker Street McMahons Point sold for $4,850,000 by Blues Point Real Estate.</span></p>
<p><span>A seven-bedroom home at 2 Ethel Street Burwood sold for $4,325,000 by Rich+Oliva Croydon Park/Burwood.</span></p>
<p><span>A five-bedroom home at 9 Parkview Road Fairlight sold for $3,035,000 by Stone Real Estate.</span></p>
<p><span>A six-bedroom home at 2 Amiens Street Gladesville sold by Ray White Gladesville and Ryde for $2,890,000.</span></p>
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jchancellor-FAypfDUnLy

Seaforth tops Sydney weekend sales

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<p><span>Melbourne had a clearance rate of 71% on the weekend compared to 64% last weekend.</span></p>
<p><span>It was 68% this time last year.</span></p>
<p><span>There were 1209 auctions reported to the REIV. </span></p>
<p>The top sale was a five-bedroom, four-bathroom trophy home at <a href="https://www.realestate.com.au/property-house-vic-templestowe-121272546" target="_blank">28 Serpells Road, Templestowe</a>, which sold for $4.86 million, around $500,000 over reserve. </p>
<p><span>The block cost $2.1 million in 2001.<br><br> A record $27 billion worth of residential property has been sold by auction in Victoria, so far this year - up 27% ($6 billion) on last year.</span></p>
<p><span><strong>TOP 5 HOUSES</strong></span></p>
<p><span>1. 28 Serpells Road, Templestowe $4,868,000</span></p>
<p><span>2. 16 Hall Street, Brighton, $3,175,000</span></p>
<p><span>3. 2 Hoyt Street, Hampton $3,100,000</span></p>
<p><span>4. 5 Fairfield Avenue, Camberwell $2,840,000</span></p>
<p><span>5. 973-975 Rathdowne Street, Carlton North $2,800,000</span></p>
<p><span><strong>TOP 5 BARGAIN HOUSES</strong></span></p>
<p><span>1. 5 Blackwood Drive, Melton South $216,000</span></p>
<p><span>2. 8 Regency Place, Melton West $256,000</span></p>
<p><span>3. 59 Westcott Parade, Rockbank $260,000</span></p>
<p><span>4. 48 Mitford Crescent, Craigieburn $260,000</span></p>
<p><span>5. 22 Cyan Crescent, Officer $265,000</span></p>
<p><span> </span></p>
<p><span><strong>TOP 5 APARTMENTS</strong></span></p>
<p><span>1. 32/125 Ormond Road, Elwood $2,320,000</span></p>
<p><span>2. 3/21 Grange Road, Sandringham $1,920,000</span></p>
<p><span>3. 2/11 Bevis Street, Bentleigh East $1,622,000</span></p>
<p><span>4. 1A Stewart Place, Richmond $1,575,000</span></p>
<p><span>5. 101 Eglinton Street, Kew $1,561,000</span></p>
<p> </p>
<p><span><strong>TOP 5 BARGAIN APARTMENTS</strong></span></p>
<p><span>1. 2/14A Myrtle Grove, Preston $270,000</span></p>
<p><span>2. 62B Herman Road, Lalor $290,000</span></p>
<p><span>3. 15/2 Mckay Street, Coburg $290,000</span></p>
<p><span>4. 2/1 First Street, Parkdale $300,000</span></p>
<p><span>5. 1/432 Dorset Road, Boronia $300,000</span></p>
<p><span>Source <a href="/news"><span>REIV</span></a></span></p>
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Templestowe tops Melbourne's weekend auctions

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<p><span>A Beaumaris home on the Bayside Architectural Trail has been sold at $1,575,000.</span></p>
<p><span>With striking red panelled facade, the home sits on a 712 sqm block with generous private rear garden and bluestone alfresco area.</span></p>
<p>The <span>2 Clonmore Street</span> listing had been marketed as a $1.4 million plus offering.</p>
<p><span>Describing the 1962 modernist house as timeless, Sam Gamon of Chisholm &amp; Gamon noted the extensive natural building materials including Mt Gambier limestone, local bluestone, American Oak joinery and Miranti timber paneling.</span></p>
<p><span>It was designed by <a href="https://www.realestate.com.au/property-house-vic-beaumaris-121295982" target="_blank"><span>architect Linton Reynolds in 1962</span></a>.</span></p>
<p><span>There are three bedrooms plus study. The main bedroom is upstairs with its own study area.</span></p>
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Modernist 1962 Beaumaris trophy home sold at $1,575,000

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<p><span>A two-bedroom home at 193 Scenic Drive, Budgewoi sold at weekend auction for $339,500 by One Agency Eastlakes.</span></p>
<p><span>The pre-auction marketing was suggesting $275,000 plus price expectations for the <a href="https://www.realestate.com.au/property-house-nsw-budgewoi-121282678" target="_blank"><span>brick veneer house</span></a>. </span></p>
<p>CoreLogic RP Data put the median house price of the NSW Central Coast suburb <a href="/news">at a record $360,000</a>.</p>
<p>The New South Wales central coast suburb of Budgewoi was consistently one of Australia's worst performing suburbs for value of mortgage delinquencies, according to Fitch Ratings.</p>
<p>In September last year, Kingston, Queensland's 4114 postcode, took over Budgewoi's title as the suburb with the highest value of mortgage delinquencies. <span style="font-size: 12.16px; line-height: 1.3em;"><br></span></p>
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Budgewoi sale at 20% premium to auction price guidance

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<p><span>Bain &amp; Company's Boston-based head of global banking Gerard du Toit forecasts the accelerating adoption of mobile banking services will result in accelerated bank branch office closures.</span></p>
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<p><span>He suggests Australia's big four banks will come under pressure to close up to 30% of branches over the next three to five years.</span></p>
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<p><span>"Visits to Australian bank branches were down almost 10% in the September quarter compared to the same period two years earlier, but the percentage of transactions done via a teller was still twice as high as in the most digitally advanced markets," Bain &amp; Company's Boston-based head of global banking Gerard du Toit told the <em>Australian Financial Review</em>.</span></p>
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<p><span>"Everything suggests this market has more branches than it is going to need five years from now.</span></p>
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<p><span>"It is hard to say how many closures there will be but global trends indicate a possible reduction of 10% to 30%". </span></p>
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<p><span>Bain &amp; Co's latest annual report on global trends found that the adoption of mobile banking services accelerated rapidly in the past year.</span></p>
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<p><span>But it warns banks to get the technology right.</span></p>
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<p><span>Mr du Toit said Australian banks should learn from the Netherland's ABN Amro which halved its branches over the past three years without losing market share having spent five years ago with branch staff focused on training customers, especially babyboomers up on how to use self-service options.</span></p>
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Bank landlords face 30% branch office closure

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<p>The changes introduced by Scott Morrison to the age pension regime contained in Joe Hockey's May budget should be wound back, the lobby group representing union-backed super funds, <span style="font-size: 12.16px; line-height: 1.3em;">Industry Super Australia says.</span></p>
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<p>From January next year the asset threshold for a couple to qualify for a part age pension will fall to $823,000 from $1.15 million.</p>
<p>For retirees who quality for a government pension, the amount by which the pension is reduced for each additional $1000 of assets over a threshold will rise from $1.50 a fortnight to $3.</p>
<p><em>Fairfax Media</em> report ISA accused the government of "ad hoc" policy making.</p>
<p>"The more aggressive taper rate undermines the incentive for people to increase their super contributions since an increase in retirement income from this source will be largely clawed back through lower pensions."</p>
<p>ISA cite ISA-Rice Warner modelling that indicates that the proposed changes to the Age Pension asset test and taper rate in the bill are "misguided" because they reduce the retirement incomes of Australians who currently are on modest incomes, and whose retirement incomes are projected to be below that sufficient for a comfortable standard of living in retirement.</p>
<p>"Over time, the changes would adversely affect about 40 per cent of Australians, and 8 in 10 single women," it suggested.</p>
<p>Adopting the same methodology as Australia’s Future Tax System Review, the bill’s proposal to double the taper rate to a $3.00 per fortnight loss of pension per $1,000 of assets results in an effective taper of 156 per cent assuming a 5 per cent return. </p>
<p>The proportion of new retirees affected by the proposed change will increase sharply over time, ISA noted.</p>
<p>The proportion of new cohorts of retirees affected by the proposed asset test change increase from one in three today to seven in 10 by 2050. This influx will increase the overall proportion of the Age Pension population who are worse off from just over 10 per cent in 2017 to over 40 per cent by 2055.</p>
<p>ISA noted the policy change over time reveals that:</p>
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<li><span style="line-height: 1.3em;">The impacts of the change increasingly fall on those earning below average incomes</span></li>
<li><span style="line-height: 1.3em;">For couples due to retire in 10 years’ time, the largest impacts are felt just below average earnings ($62,000 or 80 per cent average full time earnings). They stand to lose around $8,600 a year ($4,300 each) or $224,000 per couple ($122,000 each) over their entire retirement</span></li>
<li><span style="line-height: 1.3em;">For those 20 years from retirement (aged 45-49 today) the big impacts start being felt by a couple in decile 4, each earning as little as $45,000 today, who would lose $3,000 ($1,500 each)</span></li>
<li><span style="line-height: 1.3em;">By contrast, a couple in decile 9 on $145,000 each experiences the barest of impacts, losing just $113 a year each</span></li>
<li><span style="line-height: 1.3em;">Over the long run, there are more people affected on below average incomes than above (5 rungs below average earnings compared with just one rung above)</span></li>
<li><span style="line-height: 1.3em;">Within 10 years around half of all new retirees leaving the workforce will be affected by these changes</span></li>
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Age pensions changes should be wound back: Industry Super Australia

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<p><span>It was 1994 when Claremont, the seven bedroom 1886 Burwood, Sydney landmark residence, last sold for $790,000.</span></p>
<p><span>Some 21 years later Claremont was listed by Stan Bailey from Bailey Joinery. He's well known for his quality joinery work of period style homes throughout Sydney.</span></p>
<p><span>The conservation of the original features of the home has been the main focus of his work over many years.</span></p>
<p>The two-storey Victorian residence sold through Matthew Nolan at Rich &amp; Oliva Croydon at weekend onsite auction at <a href="https://www.realestate.com.au/property-house-nsw-burwood-121309278" target="_blank">2 Ethel Street Burwood</a> for $4,325,000.</p>
<p><span>It is a tightly held home having previously traded when sold in 1980 to the office furniture supplier Barry Bowerman for $285,000.</span></p>
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