International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

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>.

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

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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Established world city real estate markets are going to see lower capital growth in the next decade as interest rates rise, so income will be the key reason for investing, according to a new report from Savills.
The real estate firm has identified cities which are resource rich, young and fast-growing, economic powerhouses or at low risk of natural disasters as ones to watch for the next decade.
According to its maiden publication, report, Impacts: the future of global real estate, Savills says the ability of cities to attract people and talent pools will be a key indicator of income security in the next 10 years.
Savills has analysed rental growth in different real estate sectors in world cities and plotted where each stands on the new Savills rental wave.
It identifies cities and sectors which investors may want to take look at more closely for security of income and potential rental growth.
<ul>
<li>Prime office growth has been highest in San Francisco (+99%), Shenzhen and Beijing (both +71%) and London West End (+69%) since 2008. This leaves these city sectors near the top of the rental curve: in late upswing, on a high plateau or in early downswing.</li>
<li>In Singapore, double digit falls have been seen in prime offices (-26%), residential (-25%) and prime retail (-15%), leaving these sectors in or near the trough of the rental wave.</li>
<li>Hotels in Shanghai, prime industrial in Melbourne and Shenzhen residential are examples of early-stage rental growth in the current cycle suggesting further potential, but investors may face tough competition and high prices for assets in these markets.</li>
<li>Shenzhen has experienced the most rental growth in residential since the end of 2008 (+82%).</li>
<li>New and growing economic powerhouse Jakarta is near the end of the late downswing phase of the cycle and potentially offers high rental growth, but with the greater risk of a young market in an emerging economy.</li>
<li>Established investment classes in world cities, e.g. prime offices in cities like London, Tokyo and San Francisco are at the top of the wave but may offer a safe harbour for investors as rents could remain on a ‘high plateau’ for some time.</li>
</ul>
“If the 50 years of real estate investment before 2007 were about capital growth and the post GFC decade about survival and riding the recovery, the next ten years and beyond will be about security of income in a low interest rate world, with investors increasingly shifting their focus towards rental markets in world cities,” says Yolande Barnes, head of Savills World Research.
“Whether investors are looking for capital growth or stable income streams, the behaviour of rental markets is key”, says Barnes. “Rents don’t lie; they’re a function of two market fundamentals: occupier demand – put simply, where people want to be - and supply conditions. In many global investment markets, there is very little scope for further yield compression so capital growth can only come with rental growth.”
Investment funds are increasingly focused on how to pay pensions to ageing populations in advanced countries. This is a permanent shift, made more urgent in a low inflation, low interest rate era, and increases focus on the quality of income, says Savills.
By contrast, in more emerging economies, notably across China, investors are still in the phase of needing to grow portfolios, so can take advantage of growth opportunities in riskier markets. Investors need to understand the risks posed by economic trends, new technology, social change, natural threats and resource scarcity, and how these impact different real estate sectors at a city, as well as world region, level.
<a href="https://www.propertyobserver.com.au/images/2017/12/4/SavillsRentalWatch.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/4/SavillsRentalWatch.png" alt="">
<h3 class="p1">Understanding where cities sit in the rental cycle</h3>
The report introduces the Savills Rental Wave, which describes all possible stages of rental growth. Cities in the ‘early upswing’ are described as ones for investors to watch as they have scope for further rental growth, but Savills warns that intense competition for stock may lead to yield compression and high prices in some locations, while others are difficult for international investors to access.
On the basis of rental growth alone, Singapore appears poised for investment in many sectors, Jakarta and Perth in prime offices, Shenzhen for residential and prime retail, Shanghai for hotels, and Melbourne for prime industrial, but some of these cities are expensive and some sectors have already seen heavy investor activity pushing yields down.
In Melbourne, Savills Industrial Director for the South-East suburbs, Lynton Williams said there was an expectation that the market would start to show signs of rental growth as the significant rise in land values was factored into new developments.
“Industrial land values have doubled throughout the past five years, and rent levels for new buildings in the size range of 1,500sq m to 4,000sq m are moving up to between $95 and $100 per sq m,” he said.
“For larger buildings, particularly existing buildings more than 5,000sq m, the rental growth will be more muted until the current supply is leased up.”
Singapore prime office rents are still on average -26% below their 2007 level, says Savills, but Chinese investor demand for Singaporean assets has continued to suppress yields.Investor appetite reflects the expectation that the city could potentially become the region’s lead economic powerhouse.
Many core, world city residential real estate markets are heavily concentrated in the ‘late upswing’ phase, including London mainstream, Berlin, Sydney, Melbourne, Beijing and Tokyo, while Frankfurt and Shanghai are on the cusp of a ‘high plateau’. In this group, the highest residential rental growth of the past ten years has been in mainstream residential lettings in Shanghai (59%) and Sydney (57%) while European listings have also been strong since 2008, with Berlin up 53% and Frankfurt up 42%.
<h3 class="p2">Australia’s Property Market – front and centre on the world radar</h3>
According to Paul Craig, CEO, Savills Australia and New Zealand, Australia is very much on the world radar when it comes to property investment, with unique global drivers that are sometimes better understood by overseas investors than their domestic counterparts.
“While the price of Sydney CBD office assets, for example, has reached a level that is concerning to some, it must be remembered that Australia’s population is expected to grow by 8 per cent in the coming five years, according to the IMF, a level circa triple the average of developed peers,” he said.
“When these drivers are coupled with inherent supply restrictions, the drivers for outperformance are apparent to many.”
Throughout the past decade, the assets of Australian superannuation funds has doubled, the population in Sydney’s inner region has grown 26 per cent yet office stock in the CBD core has decreased by 4.3 per cent.
Craig said this is one example of a demand and supply dynamic that is almost without peer globally so it can appreciated why there has been a material uplift in demand from overseas purchasers in recent years.
“With Savills having three significant CBD campaigns in Melbourne and Sydney in the past few weeks, the capital expressing interest in the Australian market is becoming even more geographically diversified, signally a very wide global interest,” he said.
“While lacking the supply hindrances evident in Sydney, Melbourne’s demand drivers at present are a standout on the world stage, with population up more than 2.4 per cent over the past year, with employment rising 3.1 per cent and GDP growth of 3.9 per cent. Such demand drivers also cement the Melbourne market as a hotspot on the global stage.”
A high plateau positioning should not necessarily discourage investors, Savills says. The combination of economic stronghold and relative economic and political stability can augur well for those more concerned with stable and secure incomes than rental-driven capital growth in sectors such as prime offices in London, Tokyo and San Francisco or budget hotels and retail in Tokyo.
Savills Melbourne’s director for CBD &amp; Metro Sales, Clinton Baxter, said nowhere was this trend more pronounced than in Australia, or more specifically, in Melbourne.
“Throughout the past 10 years, Melbourne has benefitted from a phenomenal flight of capital from Asia seeking economic, political and capital stability, plus the benefit of competitive income returns,” he said.
“Melbourne protects the income and capital of global investors by a unique combination of stability supported by ongoing massive population growth resulting from its liveability, ongoing ‘Asianisation’, and first-class education and employment opportunities.”
Baxter said that as an ever-increasing number of foreign investors sought to invest in Melbourne’s growth story, values had increased and yields had correspondingly sharpened as a result of the incredible buying power of such investors, particularly those from Asia. 
“We only need a small increase in percentage terms of foreign buyers to have a profound positive impact on pricing and values in our markets,” he said.
“Areas favoured by Asia-based investors include the Melbourne CBD, Box Hill, Doncaster and Glen Waverley, where values of all forms of real estate have increased dramatically in the past five years due almost entirely to the impact of huge volumes of foreign capital.”
By contrast, high rental growth prospects likely come with far greater risk, for example Jakarta (where the metro population is forecast to exceed Tokyo’s by 2027, but whose real estate markets are still small and relatively immature on the world stage) or Shenzhen which is relatively inaccessible to many foreign investors but one of the most youthful and fast growing cities in the world.
“To correctly understand real estate risk, it’s imperative that investors understand markets at a city, and even a neighbourhood level and how that applies to each individual real estate sector. Rental growth prospects do not necessarily indicate a ‘buy’ status, particularly if the price is too high, or if an injection of new supply could tip a sector into oversupply and a rental double-dip,” continues Barnes.
<h3 class="p2">Youthful cities tipped for growth</h3>
Understanding social change is essential. Cities with youthful populations are more likely to be centres of higher education, magnets for skilled migration and catalysts for innovation and economic growth. Rental growth will follow, Savills says.
The firm has earmarked key cities in each world region where the Gen Z (15-34 year olds in 2027) to Gen X (50-69 year olds in 2027) ratio is forecast to be highest within the next decade, which include Shenzhen, Jakarta, Auckland and Austin.
<h3 class="p2">Savills cities to watch – measuring future occupier risk</h3>
Cities which rank as ‘economic powerhouse’ or ‘youthful’ are likely to offer a substantial variety of future opportunities for investors, says Jeremy Bates, head of Savills Worldwide Occupier Services. “The biggest asset in any nation’s economy is its people. But competition is intense for talented workforces in developed countries with ageing populations, while emerging economies are nurturing an increasing number of young people.
“New generations will drive occupier demand for certain types of buildings and locations. This will potentially lead to a shift in what constitutes a quality ‘covenant’ with buildings let on short leases to a deep pool of small local businesses potentially finding the most favour with investors as sources of reliable income.”
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jonathanchancellor-7SQnKwU6yx

Savills on rent watch as world city risk changes 

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A Brighton Beach bathing box on the popular Dendy's Beach has sold for a record $330,000 plus.
It topped the previous record, set last year when a newly-built hut sold for $326,000.
Marshall White agent Barb Gregory secured the pre-auction sale of <a href="https://www.realestate.com.au/sold/property-house-vic-brighton-126914706" target="_blank">Bathing Box 60</a>. It was expected to fetch between $270,000 and $297,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/27/BBox60.jpg" alt="" style="font-size: 12.16px;">
On top of purchasing and maintenance costs, owners have to pay about $1650 each year in licensing fees and council rates.
The first box that traded at auction was in 1999 at $58,000.
Brighton houses have sold up to $22 million.
Listing agent Barb Gregory, once a proud owner of a $3200 beach box, regrets when she and her friends sold it a few years later.
There will no doubt be high hopes for <a href="https://www.realestate.com.au/property-house-vic-brighton-126970182" target="_blank">Bathing Box 76E</a> now, which goes to auction this weekend (below).
Its the second time the box has been listed in less than two years. It has $300,000 hopes for its weekend auction having last traded for $285,000 in January last year.
It was built by Bayside City Council in 2015.
Julian Augustini at Hodges Brighton has the listing.
<img class="size-full wp-image-256417" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/12/01153002/capi_4481376920f6ebd530ce840d7d7c1b6c_baeb11864be07ee5ebf26163252e0168.jpeg" alt="76E Bathing Box Esplanade, Brighton - For Leader R" style="font-size: 12.16px;" data-capiid="baeb11864be07ee5ebf26163252e0168">
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j.ballantyne1990-6AQqhLzZaK

Brighton bathing box edges record price

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Adelaide had the nation's cheapest sale when $220,000 was paid in Aldinga Beach.
It was a mortgagee sale of a three bedroom house at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-126907886" target="_blank">43 Butterworth Rd, Aldinga Beach</a>. It last traded at $157,500 in 2008.
It was a three bedroom 1975 built home.
Last month a three bedroom Aldinga Beach house sold for $261,000, which was also the weekend's cheapest result.
Located at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-126282106" target="_blank">26 Stirling Street</a>, the 670 square metre property has potential to either be renovated or redeveloped.
Built in 1978, it last sold in 2002 for $129,950.
 
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Mortgagee sells Aldinga Beach home

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It was a humble beachside cottage that showed Sydney's stellar price potential. Although it's weekend auction outcome came from a Melbourne buyer keen for its Bondi Beach panorama.
Three bidders competed for the 1920s home on the Ben Buckler headland at North Bondi (above). Bidding opened at $6.1 million for the three-bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+bondi-126902458" target="_blank">159 Hastings Parade</a> and went up mostly in $200,000, $150,000, $100,000 and $50,000 jumps until the hammer fell at $7.55 million.
It sold to a family relocating from Melbourne, through Peter Starr of McGrath Group who had a price guide of $6.1 million to $6.6 million.
They plan to build their dream home on a 398-square-metre block, with Bondi Beach views.
Reflecting almost $19,000 per square metre, Starr said the sale sets a record for land-value property in Bondi.
It last sold for $3.15 million in 2006 and at $148,000 in pre-boom 1985.
With auction volumes slightly lower, the national preliminary clearance rate improved marginally, according to CoreLogic.
There were 3,276 auctions held across the capital cities, returning a 63.5 per cent success rate, up on last weekend’s final auction clearance rate of 61.1 per cent when it was the third busiest week so far this year with 3,438 offerings.
Over the same week last year, auction volumes were similar at 3,207, although the clearance rate was considerably higher at 72.3 per cent, Kevin Brogan, the CoreLogic auction analyst noted.
Across the two largest auction markets, Melbourne and Sydney, both saw an increase in the sales clearance.
Canberra recorded the highest clearance rate of 75.6 per cent, while only 44.9 per cent of homes sold across Brisbane.
Across Canberra 105 auctions were held, compared to 128 last weekend. Canberra’s clearance rate was well up on the previous weekend's 61.7 per cent.
Brisbane’s preliminary clearance rate was 44.9 per cent, down from 52.1 per cent last week. There were 191 Brisbane auctions this weekend, compared to 153 last weekend. 
In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 66 per cent was recorded across 1,652 auctions this week.
The wet results included retired Carlton star Andrew Walker’s house <a href="https://www.realestate.com.au/property-house-vic-preston-126884130" target="_blank">at 28 May Street Preston</a> (below) which sold through Hocking Stuart at $1.74 million, well above the $1.3 millions to $1.4 million price guidance.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/4/Preston1.jpg" alt="">
<div class="x_w650 x_h366 x_image x_media">
<div class="x_image-wrapper">Walker, who played 202 games for the Blues, bought the California bungalow in 2011 with wife Kylie.</div>
<div class="x_image-wrapper">They are moving back to Walker’s hometown of Echuca, which saw high weekend rainfall.</div>
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Last week, Melbourne’s final clearance rate was recorded at 65.5 per cent across 1,736 auctions, making it the lowest clearance rate the city has seen since June 2016. While one year ago, 1,416 homes were taken to auction across Melbourne and a clearance rate of 77.3 per cent was recorded. 
Melbourne's auction clearance rate was "likely to revise lower as final results are collected and potentially surpass last week as the lowest seen since June 2016," Kevin Brogan tipped.
A Caulfield North apartment was Melbourne's cheapest at $280,000. The <a href="https://www.realestate.com.au/property-apartment-vic-caulfield+north-126880566" target="_blank" rel="noopener noreferrer">12/113 Eskdale Road</a> offering had been marketed with a $270,000 to $290,000 price guidance. Last traded in 2001 at $225,000, it was most recently a $300 a week rental.
Melbourne's top sale was in Toorak where <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-126885042" target="_blank" rel="noopener noreferrer">7 Springfield Avenue</a> fetched $4.6 million. The four bedroom 2008-built Wendy Nettle-designed home last sold in May 2014 at $3.53 million.
Sales included a pre-auction deal on <a href="https://www.realestate.com.au/sold/property-house-vic-brighton-126914706" target="_blank" rel="noopener noreferrer">a Dendy Street, Brighton</a> bathing box. It sold for a record price, likely more than $330,000 through Marshall White agent Barb Gregory. The record was $326,000.
Figures from the Real Estate Institute of Victoria suggest about 4300 homes will be sent under the hammer this month, which would top last year’s record 3877.
Across Sydney, 1,126 auctions were held this week, down from 1,215 over the previous week. The preliminary clearance rate of 62.4 per cent is up from 56.8 per cent last week, however still lower than this time last year, when a clearance rate of 75.2 per cent was recorded across 1,182 auctions.
Looking at the sub-regions of Sydney, the Ryde region recorded the strongest clearance rate of 73.9 per cent across 75 auctions. Ryde sales included a six bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-ryde-126911222" target="_blank" rel="noopener noreferrer">3 Burke Street</a> which fetched $2.15 million.
This week, Adelaide saw a preliminary clearance rate of 64.6 per cent, with 99 reported results across a total of 141 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 63.4 per cent and 65.3 per cent one year ago.
Adelaide had the nation's cheapest sale when $220,000 was paid in Aldinga Beach. It was a mortgagee sale of a three bedroom house at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-126907886" target="_blank" rel="noopener noreferrer">43 Butterworth Rd, Aldinga Beach</a>. It last traded at $157,500 in 2008.
Perth’s clearance rate of 47.6 per cent across 50 auctions was up from the previous week, when 43 auctions were held and a clearance rate of 33.3 per cent was recorded. 
 
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Bondi Beach panorama offering sees Sydney prices riding the wave 

soliver-smf6LQXgW9

Expect property prices to fall 5 to 10 percent: Shane Oliver

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The Hobart housing market has soared 11.5 percent over the year, more than any other capital city, with its gross rental yields also competing with the bigger states.
With Melbourne the exception having grown just over 10 percent, the Hobart market has seen more than double the growth of the other capital cities.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/1/Hobart1.jpg" alt="">
Due to the affordability in Hobart, the gross rental yields are too stronger than Sydney or Melbourne.
Only second to Darwin (5.7 percent), the Hobart gross rental yield one of the strongest at five percent.
The price of the Sydney and Melbourne markets sees them with the worst yields. Sydney sits at 2.9 percent and Melbourne 2.6 percent.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/1/Hobart2.jpg" alt="">
CoreLogic's head of research Tim Lawless said the Hobart housing market has been the strongest performer over the past year.
"Over the past three months values have increased by 3.3% however, over the month, the 0.6% increase was much more moderate," he said.
"Low inventory levels against a backdrop of rising demand are a key driver of the Hobart market, with advertised stock levels 36.3% lower than a year ago."
Launceston and the north east of Tasmania, as well as the south east, have been among the top performers in the country away from the capital cities.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/1/Hobart3.jpg" alt="">
 
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jrobinson-rf4aSBido9

Hobart market still the cheapest, but growing quicker than any other capital

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National dwelling values held steady in November, with a 0.1% fall in capital city dwelling values offsetting a 0.2% rise in values across the combined regional markets of Australia, according to CoreLogic’s November Hedonic Home Value Index results.
According to CoreLogic head of research Tim Lawless, a significant contributor to the downwards movement over the month came from the Sydney housing market, which recorded a 0.7% fall in dwelling values, while a fall in values was also recorded across Darwin and regional Northern Territory which were both down 0.4% over the month. For the remaining broad regions of Australia, dwelling values were relatively steady, or experienced a subtle rise, over the month.
National dwelling values tracked 0.2% higher over the past three months and have increased 5.2% over the twelve months ending November. The national annual growth rate has now halved since reaching a recent peak in May 2017, when dwelling values rose 10.4%.
Click here <a href="https://www.propertyobserver.com.au/images/2017/12/1/index1.jpg" target="_blank">to enlarge.</a>
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Conditions remain diverse across the regions
Mr Lawless said, “The diversity in capital city housing market conditions is highlighted by the rolling quarterly change in dwelling values, which range from a 3.3% rise in Hobart, to a 2.7% decline in Darwin. However, considering that together these two cities account for less than 1.5% of total housing stock in Australia, they have had little effect on the overall headline figures.”
He said, “On the other hand, softer housing market conditions across Sydney, which comprises roughly one fifth of national dwelling stock (and approximately one third by value), has a material influence over the headline growth trends.”
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The Sydney housing market moved through a recent peak in July 2017 and dwelling values have been trending lower each month since that time. Dwelling values were down 0.7% in November to be 1.3% lower relative to the market peak. Sydney’s 1.3% fall over the past three months is the greatest decline over a three month period since March 2016. While the rate of value decline in Sydney has gathered some momentum, it remains extremely modest.
Lawless believes there is mounting evidence that the Perth housing market may finally have bottomed out.
Dwelling values across Perth have edged higher over each of the past three months to record the first rolling quarterly capital gain since late 2014. The three months to November saw Perth dwelling values rise by 0.3%.
In addition to values moving off their low base, settled sales are rising (+3.8% year on year), homes are selling faster (59 days compared with 68 days a year ago) and advertised stock levels have reduced substantially (-12.7% compared with last year). He said, “If this is indeed the start of a recovery phase in the Perth housing market, it comes after dwelling values have fallen 10.8% since peaking in mid-2014.”
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National dwelling values hold steady in November with Sydney trending lower while Perth bottoms out

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Home values in Melbourne’s outer south-western region of Wyndham led value growth in all of Australia over a period of 10 years, according to CoreLogic RP Data.
Dwelling values climbed by 129.9% over the past decade in the Victorian suburb.
<a href="https://www.propertyobserver.com.au/images/2017/11/30/WyndhamCoreLogic.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/30/Wyndham1.png" alt="">
<img src="https://www.urban.com.au/images/2017/11/30/WyndhamCoreLogic.png" alt="">
Regions around Sydney and Melbourne recorded the strongest growth in property values over the last 10 years, according to CoreLogic’s recent list of the best performing property markets in the past 10 years.
CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport &amp; commercial hub with a population of between 30,000 and 130,000 people).
The median price of dwellings in Wyndham was $540,644, according to CoreLogic data.
A three-bedroom house at <a href="https://www.realestate.com.au/property/6-juliana-ave-wyndham-vale-vic-3024?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">6 Juliana Avenue, Wyndham Vale</a> (picture above) sold in November 2017 for $525,000. It previously transacted for $285,000 in 2004, CoreLogic data shows.
A four-bedroom house at <a href="https://www.realestate.com.au/property/12-fatham-dr-wyndham-vale-vic-3024?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">12 Fatham Drive, Wyndham Vale</a> sold for $460,000 in November 2017, according to CoreLogic data. It previously sold in January 2015 for $300,000, showing impressive growth in just under three years.
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Before that, it sold for $315,700 in 2009, which was a shade higher than its sold price in 2015.
The decade saw growth in every state, but very limited growth in WA.
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Melbourne's Wyndham leads price growth in all of Australia over last 10 years: CoreLogic

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An oversupply of apartments in Queensland, and particularly Brisbane, has made developers offer discounts to sell off old stock.
Many suburbs have seen negative growth in the last five years, as borne out by recent CoreLogic data.
Two such suburbs are West End and Cornubia, where prices are being discounted 14.1% and 15.9% on average (see table below).  
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<td> Suburb</td>
<td> Vendor discount(%)</td>
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<td> Berserker </td>
<td> -11.4</td>
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<td> Coral Cove</td>
<td> -12</td>
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<td> Cornubia</td>
<td> -15.9</td>
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<td> Earlville</td>
<td> -11.2</td>
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<td> Emerald</td>
<td> -11.7</td>
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<td> Harristown</td>
<td> -11.1</td>
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<td> Kirwan</td>
<td> -10.8</td>
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<td> Mackay</td>
<td> -12.9</td>
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<td> Manunda </td>
<td> -10.7</td>
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<td> Mount Gravatt</td>
<td> -10</td>
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<td> Mount Lofty</td>
<td> -13.6</td>
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<td> Point Lookout</td>
<td> -11.9</td>
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<td> Rainbow Beach</td>
<td> -10.1</td>
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<td> Rockhampton City</td>
<td> -12</td>
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<td> Rosslea</td>
<td> -12.7</td>
</tr>
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<td> West End</td>
<td> -14.1</td>
</tr>
</tbody></table>
A two-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+end-125457566" target="_blank">9/6-24 Henry Street</a> in West End sold in August 2017 for $215,000. It had sold for $320,000 in 2009, the year it was built, according to CoreLogic RP Data.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/WestEnd1.jpg" alt="">
Its on the market history shows that it was on sale for 442 days from November 2013 to January 2015 on a listed price of $289,000. Previous to that, it was on the market briefly in April 2012 for $299,000.
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+end-123095714" target="_blank">38/6-24 Henry Street, West End</a> (picture above) sold in November 2016 for $315,000. It previously sold for $360,000 in June 2008, according to CoreLogic RP Data.
At <a href="https://www.realestate.com.au/property-apartment-qld-west+end-126445334" target="_blank">15 Bank Street West End</a>, a three-bedroom apartment spanning 270 square metre in The Aston Residences has a $50,000 furniture package on offer. Also included is interior-design consultation.
Not only that, developers are also offering rental guarantees to sell off unsold stock.
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Westend and Cornibia lead Brisbane locations where buyers find the biggest vendor discounts

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GUEST OBSERVER
The headline number of new dwelling approvals rose again during October - the third consecutive month of expansion – a consequence of significant growth in Victoria. 
The ABS Building Approvals data report that the total number of new dwelling approvals rose by 0.9% compared with September.
This growth was underpinned by a 24.3% increase in approvals in Victoria and 6.1% growth in Queensland, which outstripped the declines in all other states.
The remarkable growth in Victoria is the stand-out feature of the Australian housing market at the moment.
Strong employment growth in Victoria is attracting interstate and international migration and the rising population is continuing to drive demand for more housing stock.
The record supply of new apartments in the state has not been able to fully satisfy demand.
Today’s data are consistent with our latest forecasts which were released earlier this week. The short- term outlook for new home building has been upgraded.
During 2018, we foresee an 8.2% reduction in new dwelling starts followed by a decline of 10.0% in 2019. This will mean that new home building activity will ease to levels that remain high by historic standards.
The positive result was driven by new detached house approvals which saw a 1.9% gain during October. Approvals on the multi-unit side dipped by 0.2% during the month.
New dwelling approvals declined in five jurisdictions during October, with the largest fall affecting Western Australia (-17.8%).
There were also reductions in Tasmania (-13.1%), South Australia (-8.4%), New South Wales (-6.8%) and the ACT (-5.3%). Only two states experienced growth in new dwelling approvals during October 2017. 
Shane Garrett is a senior economist at HIA.
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