Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Joel Robinson

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<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/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

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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More than 100 registered bidders attended an auction event in Canberra last week.
There were 29 properties for auction with 22 selling under the hammer, reflecting a 76% clearance rate.
Out of the offering only one came without a registered bidder.
Five of the homes had more than seven registered bidders after more than 1000 inspections of the auctioned Ray White homes were undertaken.
Prices ranged from $430,000 to $1,452,500 including 15 Hakea Crescent, O’Connor (pictured above) with the four-bedroom 2009 home the highest result.
The $430,000 sale was a 150 sqm three bedroom Narrabundah apartment that had previously sold in 2003 at $285,000.
It was sold as a $420 a week rental until September. It had been initially listed with $475,000 hopes last year.
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j.ballantyne1990-6AQqhLzZaK

Canberra auctions off to a flier

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Melbourne and Sydney housing prices face a one-in-five risk of price correction, with JP Morgan saying there's little chance of a correction in the next five years.
It ranks as 19% for Melbourne and 18% for Sydney, JP Morgan economist Henry St John said after prices have been rising faster against wages.
The chance of steep price falls in Brisbane or Adelaide is rated at 8%, while the odds of a further 15%-plus slide in Perth prices is 7%.
The ABC advised St John arrived at his estimates by examining not only absolute price growth but also price-to-income and price-to-rent ratios to calculate how far out of whack the current real estate market is with historical averages.
"The fact that those valuation ratios in Melbourne haven't ever really had a deep pull-back means price gains have persistently dominated income and rental rate growth for a very long history," St John said.
This time last year the JP Morgan team forecast "major risks" for the listed property companies in Brisbane and Melbourne apartment settlements during 2017, which did not happen.
 
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80 percent chance there will be no property crash: JP Morgan 

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The lowest price paid at big weekend auction, The Event was $136,000 for a one-bedroom furnished hotel room at Surfers Paradise.
The <a href="https://www.realestate.com.au/property-unit-qld-surfers+paradise-127261054" target="_blank">1417 Mantra on View unit</a> is holiday let though on-site managers with owners allowed to stay for 28 days per year.
It last sold in 2009 at $219,500 to a WA investors.
“The strong contingent of local buyers was the big surprise of the day,” said Andrew Bell, the CEO of Ray White Surfers Paradise Group. 
Among the properties passed in was a grand three-storey historic home at Warwick known as The Abbey. The property boasts 50 rooms, a chapel, grand dining room and function rooms.
A five-bedroom waterfront home with Florida-style architectural elements at 80 Admiralty Drive, Paradise Waters, was passed in at $4 million. It had been on and off the market for two years without success.
“We’re expecting to secure sales for a number of properties passed in over the weekend over the coming weeks,” Mr Bell said.
Strong interest from interstate buyers didn’t translate to strong bidder numbers at Ray White Surfers Paradise’s The Event on Sunday.  </div>
<div> </div>
<div>Some 41 properties worth $35.4 million sold at the auction where 170 registered bidders, mainly from the Gold Coast and Brisbane, registered to bid.</div>
<div>Ten properties sold prior to auction among the 80 plus offerings.</div>
</div>
RWSP Group CEO Andrew Bell said they had over 2000 inspections on properties over the last four weeks," Mr Bell said.
Bell had tipped interest from southern buyers to lead sales.
Mantra's resales have been loss making for some time. A sale last November was at $148,000 having sold at $320,000 in 2006, according to CoreLogic. 
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Surfers Paradise Mantra unit liquidation sale cheapest weekend result

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Big cities and places with internationally renowned attractions have long been the most popular tourist destinations. Even today, Chinese tour companies in Australia, for instance, mostly <a href="https://epubs.scu.edu.au/tourism_pubs/2219/" target="_blank">focus on the biggest cities</a> – Sydney, Melbourne, Brisbane – and landmarks like Uluru. But modern tourism is starting to take a slightly different path, regional travel, which creates economic benefits for towns and also leaves tourists with a better impression of a country.
Unpublished research undertaken by one of us (Elizabeth Turenko) while working as a tour leader in Ukraine in 2013-2014 confirmed this. Feedback from guests travelling on a group tour to Europe showed 80% preferred to visit “well-known” large cities, mostly capitals, when it came to choosing a tour.
Most of the time, though, these tourists were disappointed because the cities did not live up to their expectations. But, the study revealed, 75% of tourists enjoyed travelling to smaller towns when they did decide to visit them as part of a tour.
<h2>Big cities are losing their local flavour</h2>
There is no doubt the major cities are attractive and are still perceived as the essence of a country for many tourists. Yet the question remains: are these cities actually showing the “real country”? At a time of globalisation and global cities, to what extent do the larger cities still give tourists “the taste” of local culture.
Rural Tourism Marketing Group CEO <a href="http://ruraltourismmarketing.com/" target="_blank">Joanna Steele</a> <a href="https://www.propertyobserver.com.au/http://www.cfra.org/node/2504" target="_blank">writes</a>:
<blockquote>
In the past five years tourism has seen some big changes. Large numbers of travellers have lost interest in cookie-cutter restaurants, lodging and attractions. Instead, they want local food, local attractions and connection to the lifestyles of local people.
</blockquote>
The best places to experience that are often small local towns and villages. Here life hasn’t yet been adapted to tourist needs and the authenticity feels right.
Turenko also investigated the tourists’ preferences during a group bus tour in Europe. The main program involved a one-day visit to Amsterdam and a second day on which tourists could spend their free time in Amsterdam or go on a group trip to <a href="https://www.iamsterdam.com/en/plan-your-trip/day-trips/old-holland/smalltown-harbours/volendam" target="_blank">Volendam</a>, a small town 20km away. The 90% of the group who opted for the town visit were very satisfied with their decision.
So, was there anything special about Volendam? Not really.
Much like many small towns in the Netherlands, Volendam has limited tourist attractions, these being mostly its built heritage (wooden buildings) and cultural assets (a museum and a cheese factory). When surveyed, the visitors explained they enjoyed the glimpse into the local culture and the routine life of the locals.
The tourists appreciated going to local shops and eating at local restaurants far away from standardised brands and international franchises. They felt they could feel the “soul” of the country.
<a href="https://images.theconversation.com/files/198072/original/file-20171207-31532-jx8b4o.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/198072/original/file-20171207-31532-jx8b4o.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
What does Volendam have that Amsterdam doesn’t? It probably comes down to everyday local character.
At the time of this 2014 survey, cities and holidays at the coast were the <a href="https://www.nbtc.nl/web/file?uuid=7361722f-011d-4714-b98b-8ced3eee1bb2&amp;owner=388ad020-d235-4624-86a4-d899f855a216&amp;contentid=48712" target="_blank">main attractions for visitors to the Netherlands</a> (36% and 22%, respectively). But interest in the countryside and touring the Netherlands (12% and 10%, respectively) has been increasing.
<h2>Finding a local tourism niche</h2>
Let’s be frank: smaller towns and villages have not been dormant, and many have jumped at the opportunities offered by tourism. We all have heard about farm holidays, horse riding, wine tasting tours, nature guided walks and so on.
Building on this, innovative regional tourism practices have been recognised worldwide for displaying a breadth of approaches and end products. A good example in Ireland is <a href="http://visitballyhoura.com/" target="_blank">Ballyhoura</a>, “a world where the little pleasures of sharing everyday things with the locals in Ballyhoura – talking with them, walking with them and sharing a joke – is possibly the greatest attraction of them all!”
Despite a lack of outstanding tourism resources, the area became a successful tourism destination thanks to a very personalised marketing method. Visitors even received a welcoming letter. The focus on “<a href="http://www1.agric.gov.ab.ca/%24Department/deptdocs.nsf/all/csi13476/%24FILE/Rural-Tourism.pdf" target="_blank">promoting a genuine rural experience and warm welcome</a>” creates an incentive for more local start-up enterprises and for a co-operative, closing-the-loop process of quality control.
Longreach and Winton are Australian towns that have taken advantage of distinctive local histories and features such as old mines and fossil beds. Longreach has the <a href="http://outbackheritage.com.au/" target="_blank">Australian Stockman’s Hall of Fame</a> and the <a href="https://qfom.com.au/" target="_blank">Qantas Founders Museum</a>, while Winton’s <a href="http://www.australianageofdinosaurs.com/" target="_blank">Australian Age of Dinosaurs Museum</a> offers “products” of the natural environment such as dinosaur stamps and bones.
<img src="https://images.theconversation.com/files/196454/original/file-20171127-2004-xmtv11.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Nowhere else has one: the Stockman’s Hall of Fame in Longreach, Queensland. James Shrimpton/AAP
Yet all attempts have not been met with success. Many smaller towns are slowly disappearing in Australia. Main streets with closed shops and abandoned business are not uncommon.
The combination of lack of employment and population ageing and loss is a chicken-and-egg situation. The various levels of government are acutely aware of this, and tourism offers a possible way out of the dilemma facing these towns. Several recent initiatives have shown how tourism can contribute to the development of these areas when innovation, expertise and community participation are brought together.
Charleville in far west Queensland offers a great example of this, with the outback town working on making the most of its clear nighttime skies, far from the city lights. An extension to the <a href="http://www.cosmoscentre.com/" target="_blank">Cosmos Centre and Observatory</a>, <a href="https://www.statedevelopment.qld.gov.au/index.php/regional-development/regional-economic-development/building-our-regions/remote-communities-infrastructure-fund/1385-charleville-cosmos-centre-planetarium-stage-1" target="_blank">funded by state and local governments</a>, has boosted visitor numbers in just one year. The extension displays fun and serious facts about planets and life in space, enhanced by interactive media.
<img src="https://counter.theconversation.com/content/87997/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">For the town of fewer than 4,000 people, the growth in tourism is like a nice spring rain after a long dry season. It’s another reminder of why rural tourism can be “<a href="https://www.conversational.com/rural-tourism-the-perfect-small-town-business-idea/" target="_blank">the perfect small town business idea</a>”.
<a href="https://theconversation.com/profiles/elizabeth-turenko-424627" target="_blank">Elizabeth Turenko</a>, PhD Candidate, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a> and <a href="https://theconversation.com/profiles/karine-dupre-252059" target="_blank">Karine Dupré</a>, Associate Professor in Architecture, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/tourists-are-happy-when-taken-off-the-beaten-track-and-smaller-cities-and-towns-can-tap-into-that-87997" target="_blank">original article</a>.
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Tourists are happy when taken off the beaten track

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<div>
A Cross Street, Double Bay property - that once housed one of Sydney's shopping mecca Hampshire &amp; Lowndes - has been listed with estimated $15 million hopes.
The 329 sq m site at <a href="http://www.onthehouse.com.au/11744095/2_12_cross_st_double_bay_nsw_2028" target="_blank">12 Cross Street</a> has been held for more than 20 years.
The shop was long run by Jilly Hampshire and Susan Lowndes. It now consists of five retail tenancies and five commercial tenancies.
Sarah Lowndes has been a director of the vendor company since 1976. The current shareholders are listed as Hugh Norton and Clive Mansell.
The commercial property is fully leased to 11 retail and commercial tenants.
Colliers International has the offering of the first Double Bay freehold commercial property set to be auctioned in many years, Fairfax Media advised.
</div>
<div>The street has seen two development projects unveiled by two major developers on the street, Toga and SJD.</div>
<div> </div>
<div>Toga is developing the site at 16-18 Cross Street into a 13-unit project called The Hunter, while SJD has a double landholding at 20-26 Cross Street and 28-34 Cross Street for units.</div>
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Hampshire & Lowndes's former Cross Street, Double Bay listed

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The White Shells penthouse apartment in Marcoola on Queensland's Sunshine Coast has been sold by mortgagees.
It fetched $700,000 when sold by Jay Pashley and Liz Hope from North Shore Reality. 
It was last sold at $1,115,000 by the developer, Twaddle Developments in 2007.
The <a href="https://www.realestate.com.au/sold/property-unit-qld-marcoola-126541826" target="_blank">east facing beachfront apartment</a> with views had been on the market since September.
The penthouse has the direct access to its exclusive roof deck. 
The apartment came with two bedrooms, two bathrooms and office nook. 
<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/2018/1/29/sunshine2.jpg" alt="">
According to CoreLogic, the median price for units in Marcoola sits at $380,000.
Another White Sheels apartment sold last year at $698,000 to a Netherlands couple who work at their Chinese embassy. Apartment 42 was a three bedroom luxury apartment on the first floor in the South East corner.
The marketing advised it had "previously been valued at just under one million dollars."
It had been sold off the plan in 2007 at $985,000.
The CoreLogic Pain &amp; Gain report highlights the Sunshine Coast loss-making locality (below).
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/29/painandgain.jpg" target="_blank">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/2018/1/29/painandgain.jpg" alt="">
All 48 apartments have either a north or east-facing aspect. White Shells has four residential levels with lift access to every level and there are three separate entrances into the apartments, making living at White Shells much lower density than most apartments.
On completion there had been very little in the way of brand new beachfront apartments on the coastal side of the David Low Way.
It sits at the corner of Merchants Parade and Seashore Street, Marcoola. 
 
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White Shells, Marcoola Sunshine Coast penthouse sold by mortgagee

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The West Melbourne, Festival Hall, owned by the family of the legendary sports impresario John Wren since 1915, is set to be listed for sale with redevelopment plans.
<div>
Cousins Chris and John Wren – directors of the business that operates Festival Hall – have lodged plans with the City of Melbourne for a two-tower $65 million redevelopment.
The Wren family plan to sell it with a permit for the mixed-used scheme designed by architects Rothelowman.
"We're not developers," Chris Wren, a planning lawyer and director of the family owned Stadiums Pty Ltd, told The Australian Financial Review. 
The premises opened with a boxing match on Cup Eve 1913 under the stars. During Wren's ownership there was boxing on Friday nights, wrestling on Saturday, with Wenesday's a mix of vaudeville or light boxing matches.
</div>
<div><img src="http://www.afr.com/content/dam/images/h/0/n/4/m/l/image.imgtype.afrArticleInline.620x0.png/1516690901987.jpg" alt="A two-tower development with 1400 square metres of commercial space and 179 apartments is planned." width="620" data-src="http://www.afr.com/content/dam/images/h/0/n/4/m/l/image.imgtype.afrArticleInline.620x0.png/1516690901987.jpg"></div>
<div> </div>
<div>A two-tower development has been proposed with 1400 square metres of commercial space and 179 apartments.</div>
<div>
At a time when many moralists regarded gambling as a racket, John Wren obtained great power and wealth over the decades until his death in 1953.
He was the thinly disguised subject of author Frank Hardy's 1950 novel Power Without Glory.
His 2004 biographer James Griffin wrote that Wren's defamations were still current - and even this week one national newspaper described Wren inappropriately as a "crime boss." 
Chris Wren said John Wren (top and below) would not have been sentimental about the site.
</div>
<div>"He would have told us to sell the place ages ago," he said.</div>
<div> </div>
<div>The City of Melbourne has placed an interim heritage order on the site, which they hope to have overturned.</div>
<div> </div>
<div>The building on the site was rebuilt to host boxing events in 1955 after fire destroyed the original structure.</div>
<div> </div>
<div>It has since hosted bands including the Beatles, The Seekers and the Rolling Stones.</div>
<div> </div>
<div><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/2018/1/25/wren3.jpg" alt=""></div>
<div> </div>
<div>Music guru Molly Meldrum said it would be a shame to lose the 5400-person hall which had lost business since the completion of a retractable roof on the Margaret Court Arena in 2014 drew acts and promoters away.
Festival Hall is the last of a string of event venues the family business once owned in the east coast capitals including premises at Rushcutters Bay in Sydney and Brisbane.
The Collingwood based John Wren bought the three boxing stadiums in 1915 from silver medial Olympian boxer, R L "Snowy" Baker and undertook the Festival Hall roofing at a 230,000 pounds cost.
Sydney held 11,000, Melbourne 7,000 and Brisbane held 5,000.
Laid off work during the 1890s depression, Wren launched his Johnston Street totalizator with a stake bolstered by his 1890 Carbine Melbourne Cup victory gambling coup.
In Victoria his probate was valued at £1,003,946.
 
</div>
 
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jchancellor-FAypfDUnLy

John Wren's family up for fight with Festival Hall redevelopment proposal

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Caydon's $1 billion redevelopment of Melbourne’s landmark 1960s Nylex clock site is a step closer after the developer secured Victorian Civil and Administrative Tribunal approval for its second stage.
It includes a revised plan for a 15-storey apartment building to be erected at the Gough Street Cremorne mini-suburb site.
A 14-storey building will also be built, with the total redevelopment to consist of three significant buildings.
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Nine of the site’s original 16 silos will be retained as part of the redevelopment, including adaptation for use as a hotel, art gallery, wellness centre and a visitor centre.
The iconic Nylex clock will tell the time once again after it is restored and reinstated over the new development with what has been dubbed the Malt District.
Caydon's Joe Russo has welcomed the decision.
The VCAT decision referred to the proposal as a “seductive, sophisticated and subtle design."
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It was 2014 when the set was purchased by Caydon for $38 million.
Caydon owned next door, once occupied by Beaver Plastics, taking their holding to around 1.6 hectares.
The site has been part of Melbourne’s brewing history since the late 1800s.
The 11,340 square metre site had previously attracted interest from developers when restoration projects were proposed in 2002 and 2004. 
The Nylex Clock featured in Paul Kelly’s late 1980s song 'Leaps and Bounds', with the band filmed performing on top of the tower.
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This week the City of Yarra Mayor Daniel Nguyen said it was disappointing that Council’s concerns about the scale of the Nylex site development were not reflected in VCAT’s final decision.
Stage one is progressing with prices in the <a href="http://maltdistrict.caydon.com.au/coppins-corner/" target="_blank">Coppins Corner</a> building starting from $496,000 for its one bedroom apartments; two bedroom apartments from $660,000, three bedroom apartments from $1,242,000 and SOHO apartments from $1,570,500.
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Nylex site finally gets chance to proceed in leaps and bounds

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Melbourne's inner-city unit market has been pinpointed in Terry Ryder's latest Hotspotting’s No Go Zones 2018 report.
Ryder warns investors to steer clear of apartments in the CBD, Southbank and Docklands in particular, citing concerns around oversupply and high rental vacancy rates.
Ryder said the impact of oversupply was frequently underestimated.
“Over-supply causes rents to fall and that drags down property values,’’ he warned.
It was the first time for several years that no regional, resource town in Queensland had been on the list.
Hotspotting founder Terry Ryder said in the report that the “single biggest danger” for investors this year was “buying apartments in some of our major cities”.
“Given that Melbourne, Brisbane, Perth and Darwin already have, or are heading towards major surpluses of inner-city apartments, and Sydney, Adelaide and the Gold Coast are trending in that direction, a good strategy for property investors is to simply avoid high-rise unit markets altogether,” he wrote.
Ryder warned while “the optimists” had suggested Melbourne’s population growth was strong enough to absorb its substantial unit development, many of the apartments being built were unlikely to appeal to local renters.
<div id="celtra_holder_news">“Many of the new high-rise projects have been specifically targeted at foreign investors. The size and layout of the properties don’t necessarily suit Australian residents,” he said.</div>
“This lessens the appeal of the apartments and reduces the size of the target market, thus causing downward pressure on rents and prices.”
The report advised that 4.2 per cent of properties available for rent in Southbank were vacant in November 2017, along with 3.4 per cent in Docklands and 2.8 per cent in the CBD.
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While down from November 2016, they sat well above greater Melbourne’s November 2017 vacancy rate of 1.8 per cent, according to SQM Research.
Ryder’s report said State Government figures showed 20,000 residential properties across inner and middle Melbourne sat vacant.
Some 93,000 units were in the pipeline for construction across the city over the next two years — although it was unlikely they would all be built.
An <a href="https://www.realestate.com.au/sold/property-apartment-vic-southbank-126881530" target="_blank">18th level, two bedroom apartment</a> in Southbank's The Guilfoyle complex (top and above), sold has just sold for $475,000, having last traded for $530,000 in 2010. 
Ryder’s “no go” zones also included three Queensland markets — inner-city and northside Brisbane, and high-rise Gold Coast — along with the WA localities, Kalgoorlie-Boulder, Perth inner-city, and Port Hedland and Karratha.
SA’s Whyalla and units in Parramatta, NSW, rounded out the 10. 
The No Go Zones report said the Olympic Park area, which includes Homebush, Breakfast Point and the suburb of Olympic Park itself, was becoming “prominent for all the wrong reasons”.
Sharp increases in the number of homes available have coincided with a decline in sales, while the number of rental properties currently vacant recently climbed to 4 per cent — double the Sydney average.
Other nearby suburbs such as Wentworth Point and Rhodes also “entered the danger zone”, according to the report.
Ryder urged investors to examine a market’s vacancy rates and building approvals to gauge potential oversupply before taking the purchase.
He also advised speaking to local “real estate professionals”, namely valuers and buyer’s agents.
In Hotspotting’s Top 5 Melbourne Hotspots 2018, Mr Ryder named the Hume, Wyndham, Melton, Epping and Casey precincts as the city’s best bets for buyers this year, each offering affordability, solid infrastructure and closeness to major employment networks.
 
 
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jonathanchancellor-7SQnKwU6yx

Why inner city Melbourne tops Terry Ryder's 2018 No Go Zones report 

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Putting your faith in published data on prices is one of the great perils facing property investors around Australia. 
Anyone who bases a major investment decision on something they read about the pricing levels in a particular location and how much they are growing (or falling) may end up with a serious miscalculation.
It’s possible to access three sources for price information on a particular location and get three different results – one suggesting prices are rising, another claiming they’re stagnating and a third declaring that values are falling.
Here’s an example: a couple of days ago, I was writing a report and did a Google search on the median house price for Alice Springs in the Northern Territory.
The search engine brought up results from multiple sources. 
Here are three of those outcomes:  
<ol class="ol1">
<li class="li1">According to Your Investment Property magazine, quoting CoreLogic data, the median house price was $299,950, up 5.7% in the past 12 months.</li>
<li class="li1">According to realestateinvestar.com.au, the median house price for Alice Springs was $469,000, unchanged from a year earlier; and </li>
<li class="li1">According to homesales.com.au, the median house price for Alice Springs was $1,109,913, down 1.7% on a year earlier. </li>
</ol>
So the median price was either $300,000 or $469,000 or $1.1 million, depending on which source you chose to believe. And prices in Alice Springs were either down a little, unchanged or up moderately, depending on your source. 
If this was an isolated example, there wouldn’t be a problem. But the experience of finding contradictory information on pricing is common. 
For the January edition of my monthly newsletter The Ryder Report, I compared price growth for apartments in the major cities, taking figures from three major sources.
Firstly, the figures demonstrate (yet again) that we don’t have a single property market in this country. We have many different markets, which currently are delivering contrasting results. And secondly, there are big differences in growth rates from one source to the next.
Hobart is the clear market leader: all three sources have the Tasmanian capital leading on annual growth in the median apartment price, but there are big variations in the claimed rate of growth, ranging from 9% to 18%.
Melbourne ranks second with two sources, but again there is quite a divergence in terms of the published annual growth rate in median prices. The ABS has apartment prices in Melbourne up 4% but CoreLogic has double the growth rate (a little over 8%) while SQM’s growth rate (13%) is three times higher than the ABS rate.
There is broad agreement that the Brisbane unit market is rather mediocre, but SQM record no change in prices, while ABS has prices down a little while CoreLogic has prices declining, but at three times the ABS rate of decrease.
It’s hard to know from these figures where the Canberra market is at: the three growth figures are 1.8%, 2.1% and 10%. Two sources suggest a quiet market while the third depict a strong rising market. 
Unit prices in Adelaide? CoreLogic suggests little change, SQM suggests a 2% annual rise and the ABS has prices up 6%. 
CoreLogic data suggests prices have stopped falling in Perth but both the ABS and SQM record an annual decline of about 6%. 
So, what do we make of that? My conclusion is: it’s all dodgy data, to a certain degree. 
All information about median prices and how much they’ve risen or fallen is rubbery figures to some extent, with the discrepancies and contradictions partly explained by different methodologies and varying definitions about various elements, such as how do you classify townhouses and where do the boundaries sit for a city like Melbourne.
But think about it. The Sydney metro area has over 700 suburbs and what’s happening in the Northern Beaches is somewhat different to the situation in Penrith, while Bondi has few similarities with Campbelltown. 
Yet a research company will try to distil all the sales activity in the past 12 months down to a single growth figure, declaring that Sydney prices are growing … well, the rate of growth depends very much on the source.
Media treats them as fact, despite these kinds of discrepancies, which are common. And bases sweeping interpretations on individual figures from a single source.
 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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