Gold Coast-based developer <a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a> has lodged a Development Application for a landmark $120 million precinct set to transform the southern gateway of the much-loved Spit.

Positioned at the most prominent entry point to the iconic peninsula, the project has been designed with a strong focus on architecture, public space, heritage and connectivity, delivering a revitalised parkland setting that invites locals and visitors to engage with the Broadwater.

Central to The Isles proposal is a significantly upgraded public realm, including landscaped open space, a new waterfront café, and a family-friendly park featuring a naval-themed playground, open lawns and improved pedestrian connections.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="de83a270-6091-4b26-bed0-86f9248e7f9e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%201.jpg?VersionId=vt79HlCOwV9F7eLQe9.Z3bv9JGLMaSP2" />

The design retains and celebrates key elements of the site’s history. The training mast from the vacant and degraded naval cadet building, which forms part of a former Navy minesweeper, will be preserved. The existing Navy Memorial will be relocated and upgraded in collaboration with the RSL, allowing it to be publicly accessible for the first time in years. 
&nbsp; 
Heritage-listed Humphreys Boat Shed remnants will remain and be incorporated into the landscape, while the site’s established Norfolk Pines will be retained, reinforcing the area’s character and sense of place. The enhanced parkland will ultimately create a long-term community asset at the entry to The Spit. 
&nbsp; 
The Development Application (DA) lodged with Gold Coast City Council includes 28 waterfront apartments across three levels, ranging in size from 145sqm to 383sqm, designed as a feature landmark within the precinct and complement the public domain.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="bbf94e00-b56a-47fb-a15d-3d17b0b1ec76" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%203.jpg?VersionId=A0vmBNE_KohYJo1EoZcmF5IVW4tT5aDo" /> 
&nbsp; 
Ignite Projects Director Josh Foote said the project as a whole had been carefully shaped to deliver a meaningful outcome for the wider community, not just future residents. 
&nbsp; 
“This is about more than delivering opulent apartments – it’s about creating a welcoming and memorable gateway to The Spit that people can enjoy every day,” Mr Foote said. 
&nbsp; 
“We’ve worked hard to ensure the public realm is a central part of the project, from the landscaped parklands and family-friendly spaces through to the preservation and celebration of important local heritage.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="443bbde5-8221-45f8-a549-dad2623df20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%204.jpg?VersionId=iUl6nc.sHkjMdo_1RigwbwUz_celHJ3H" /> 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, The Isles adopts a considered subtropical approach, with the building form shaped to maximise natural light, cross ventilation and views to the Broadwater and surrounding parklands. 
&nbsp; 
Architect Rafael Contreras said the design responded directly to its unique coastal setting. 
&nbsp; 
“Rather than a typical built form, the architecture has been shaped by performance and experience – from optimising outlook and privacy to creating a strong connection to landscape and climate,” Mr Contreras said. 
&nbsp; 
“A central landscaped courtyard allows light, air and greenery to permeate the building, while the articulated façade introduces movement and rhythm inspired by the Broadwater.

“The Isles will create a place where people can gather, relax and connect with the water, while also delivering a refined residential product that responds to its unique setting.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="1089570d-1120-4302-9900-fb9f75c75c26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%205.jpg?VersionId=pl9qmKZNbaL3A7XjmD7sjhLwmXaqzzLZ" /> 
&nbsp; 
The DA relates to the residential and public realm components, with a proposed boutique marina to be progressed as part of a future stage, subject to separate approvals. 
&nbsp; 
The Isles is being delivered under The Spit Master Plan, a collaborative vision to create a new residential, tourism, leisure, natural environment and cultural heritage hub on the iconic and much-loved peninsula.&nbsp; 
&nbsp; 
Ignite Projects has an established track record delivering premium residential projects across the Gold Coast, including The Monaco at Main Beach and Cabana at Palm Beach. 
&nbsp; 
Sales for The Isles are expected to commence in coming months from an on-site display suite, with construction targeted to begin later this year, subject to approvals.

Joel Robinson

Ignite Projects unveils exciting details of landmark gateway precinct for the Spit

The Federal Government’s sweeping changes to negative gearing and capital gains tax could trigger an unintended consequence: a surge of investor demand into the new and off the plan apartment sector.

While Treasurer Jim Chalmers has framed the reforms as a way to improve housing affordability and rebalance the tax system, the carve-outs for newly built housing are already positioning off the plan apartments as one of the few remaining tax-effective property investment plays.

Under the changes handed down in the Federal Budget, investors purchasing established properties after budget night will no longer be able to access negative gearing benefits. The Government will also replace the long-standing 50 per cent capital gains tax discount with a new inflation-indexation model and introduce a minimum 30 per cent tax on gains from July 2027.

However, there is a major exemption.

Investors buying new builds, including off the plan apartments, will still be eligible for negative gearing and will be able to choose between retaining the current 50 per cent CGT discount or adopting the new indexed model.

That distinction is expected to reshape investor behaviour almost immediately.

For years, established housing has dominated investor purchases because of its perceived lower risk, immediate rental returns and stronger historical capital growth. But with the tax advantages now heavily skewed toward new housing supply, the economics are changing rapidly.

The Federal Government has been explicit about its intent.

“The housing market and tax system are broken,” Chalmers said ahead of the Budget, arguing that existing concessions were disproportionately rewarding speculation rather than supporting housing supply.

The Government says the reforms are designed to encourage investment into new housing rather than established stock, a move aimed at increasing supply during a prolonged housing shortage.

According to the official Budget papers, limiting negative gearing to newly built homes is intended to “better align tax incentives with housing supply objectives.”

For the apartment development sector, particularly the off the plan market, the changes could become one of the strongest investor tailwinds in years.

Developers across Sydney, Melbourne and Brisbane have spent the past two years battling elevated construction costs, higher interest rates and subdued investor confidence. Many projects have struggled to secure sufficient pre-sales to commence construction, particularly in markets heavily reliant on investor demand.

The Budget changes may now alter that equation.

Investors seeking tax-effective property exposure will increasingly find themselves funnelled toward newly built apartments simply because established dwellings no longer offer the same benefits.

Commonwealth Bank described the reforms as one of the most significant shifts to residential property investment settings in decades, noting that the package is centred around “limiting negative gearing for residential property to new builds” while replacing the existing CGT framework.

That could have profound implications for the apartment sector.

Off the plan apartments already hold several advantages for investors. Purchasers typically secure a property at today’s price while settlement occurs years later, allowing time for capital growth and reducing the upfront capital burden. Brand-new apartments also generally attract depreciation benefits, lower maintenance costs, and stronger appeal to renters seeking modern amenity.

Now, they may also become one of the only residential property types still offering the full suite of historical tax advantages.

Industry analysts expect investor demand to increasingly migrate toward projects that can clearly demonstrate strong rental demand, transport connectivity and long-term supply constraints.

The shift is likely to be particularly pronounced in apartment markets already underpinned by structural undersupply, including inner Brisbane, the Gold Coast, parts of Sydney’s Lower North Shore and select Melbourne precincts where new apartment commencements have collapsed over recent years.

The reforms also arrive at a time when apartment supply nationally remains critically constrained.

Australia is already struggling to meet the Federal Government’s target of delivering 1.2 million new homes over five years. Construction feasibility pressures have delayed or shelved thousands of apartments across the country, particularly as building costs remain elevated and financing conditions remain tight.

Critics of the Budget changes argue the reforms could reduce overall investor participation in the housing market and place upward pressure on rents by discouraging investment in established housing.

Some economists estimate the measures could reduce housing supply over the longer term if overall investor appetite weakens.

However, the Government is betting that redirecting investor capital into new housing supply will offset those concerns.

“To continue to incentivise construction of new housing, investors building new residential properties will be able to choose either the 50 per cent CGT discount or the new arrangements,” the Budget papers stated.

That wording has been closely watched by the development industry because it effectively positions new apartments as the preferred investment class within residential property.

For off the plan developers, the reforms could become a powerful sales tool.

Projects that have increasingly relied on owner-occupier demand may once again attract investors seeking to preserve the tax advantages still attached to newly built housing before the July 2027 changes take effect.

The reforms are also expected to sharpen the divide between established and new housing markets.

Rather than a broad investor retreat from property altogether, many analysts expect a redistribution of capital toward sectors still supported by Government incentives.

That could create stronger demand for apartment projects in key urban growth corridors and transit-oriented precincts where population growth, migration and rental shortages remain elevated.

The policy direction also aligns with the Government’s broader push toward increasing housing density in established urban areas.

Across Sydney, Brisbane and Melbourne, planning reforms are increasingly encouraging higher-density apartment development around transport infrastructure and activity centres. By maintaining tax incentives for new housing, the Federal Government is effectively reinforcing that agenda from a taxation perspective.

For apartment developers who have spent years navigating subdued investor confidence, the changes may ultimately become the catalyst that reactivates parts of the off the plan market.

While the broader property sector is still digesting the long-term implications of the Budget, one thing is already becoming clear.

The era of investors buying established apartments and houses primarily for tax advantages may be ending.

But for off the plan apartments, the investment story may just be beginning.

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Investors to flood off the plan apartment market?

Adding to Chatswood’s growing skyline, <a href="https://www.apartments.com.au/new-apartments/the-anderson-chatswood-54-56-anderson-street-chatswood-nsw-2067">The Anderson</a> is grounded in a simple principle: apartment living in a major centre does not have to come at the expense of space and outlook.

Set on Anderson Street in the heart of <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a>, the new residential tower, a collaboration between developers <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a> and <a href="https://www.apartments.com.au/developers/huirong-group">Huirong Group</a> with architecture and interiors by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, will introduce 122 apartments that prioritise generous proportions, considered orientation, and a strong connection to the surrounding heritage precinct.

The design originated from a Design Excellence Competition, where AJC proposed a building that combines suburban-style apartment scale with the density expected in a transport-rich centre. The development will include more than 1,800 square metres of retail and commercial space at street level, landscaped communal roof terraces, and a ground-floor pocket park framed by canopy trees. Together these elements aim to create a building that integrates with Chatswood’s evolving streetscape while maintaining a strong residential focus.

[smartcode_project:default project_id=151353 project_image_fid=353250]

A key driver behind the architecture was the desire to deliver family-sized apartments rarely seen in the Chatswood market. The Anderson includes a mix of one to four-bedroom apartments, with around 35 per cent of the residences configured as three or four-bedroom homes. At the top of the building, two double-storey penthouses span approximately 200 square metres each, reinforcing the project’s emphasis on scale and long-term liveability for both downsizers and intergenerational households.

Orientation and outlook were central to the planning of the building. The apartments are positioned to maximise views to the north and east across Chatswood’s heritage precinct, with upper levels capturing glimpses of the Pacific Ocean. South-facing apartments gain distant views toward the Sydney CBD and Harbour Bridge, while the building’s configuration intentionally reduces western exposure at lower levels to minimise overlooking toward the nearby railway corridor.

The external design references the character of the surrounding conservation area without replicating it directly. A brick podium anchors the building to the street and introduces a series of architectural portals that draw inspiration from the nearby Chatswood Presbyterian Church. Above this base, the tower shifts to a lighter, more open expression defined by horizontal lines and carefully detailed balconies that balance privacy with outward views.

[smartcode_project:default project_id=151353 project_image_fid=353254]

Toward the top of the tower, AJC introduces a distinctive lantern-like element formed by sliding screens. These screens provide both solar shading and privacy while also creating a visual marker for the building within the Chatswood skyline. The feature reinforces the architectural intent of the project, a structure that is visually refined while still responding to the practical requirements of apartment living.

Inside the residences, interior architecture focuses on clear spatial flow and practical everyday use. Open-plan living areas connect directly to large balconies, extending the internal living spaces outward and allowing natural light to move deeper into the apartments. Kitchens are designed as central working spaces with premium appliances and carefully selected materials, positioned to serve both daily living and entertaining.

[smartcode_project:default project_id=151353 project_image_fid=353256]

Bathrooms follow a similarly restrained design language, using refined fixtures and materials to create calm, functional spaces, while wardrobe areas adopt a gallery-style layout with integrated lighting and generous storage. These elements reflect a broader design approach that prioritises clarity, functionality, and durability over decorative gestures.

Positioned just a short walk from Chatswood Interchange, residents will have direct access to rail, metro, retail, and dining. The Metro extension allows travel from Chatswood to Martin Place in approximately 11 minutes, placing the CBD within easy reach for residents while maintaining the convenience of a walkable North Shore neighbourhood.

One-bedroom apartments at The Anderson start from $1,022,000.

[smartcode_project_cta:default project_id=151353]

How AJC designed The Anderson to bring oversized apartment living to Chatswood

<a href="https://www.apartments.com.au/developers/bridgewell-development">Bridgewell Capital</a> has lodged plans for a major mixed-use apartment development in the heart of Maroubra, seeking a significant uplift in height and density controls to deliver 120 apartments and a 120-place childcare centre near Maroubra Junction.

The State Significant Development application, filed through the NSW Government’s Housing Delivery Authority pathway, covers a 3,270 sqm amalgamated site at 251-257 Maroubra Road and 133-135 Garden Street. The proposal includes a concurrent rezoning that would increase the maximum building height from 12 metres to 35.6 metres and lift the floor space ratio to 4.02:1.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the project would replace a mechanic’s workshop and several detached homes with a 10-storey residential building above four basement levels.

The scheme comprises 120 apartments, including 27 affordable housing units to be managed by a community housing provider for 15 years, alongside 203 basement car spaces and 92 bicycle spaces. A childcare centre occupying nearly 900 sqm of floor area would sit at ground level and be capable of accommodating 120 children and 22 staff.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="038a0639-f9e4-4303-8fcc-d43e73fa480f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20pers.png?VersionId=eGBElxmNqJW.YF3JFYgHTnPgAstdyXR3" />

According to the Design Report, the project has been conceived as a “gateway proposal” that responds to Maroubra’s evolving urban character and its proximity to the town centre.

“Designed to complement the character of Maroubra’s town centre, this gateway proposal features a building scale that matches its surroundings,” the report stated.

“It integrates residential units above a ground-level childcare centre, fulfilling the strategic objectives of the Randwick City Council Masterplan.”

The apartment mix is weighted toward larger residences aimed at families and downsizers, reflecting changing demographics in the Randwick LGA and increasing demand for medium-density housing close to transport and amenity.

BKA Architecture said the proposal seeks to reinforce Maroubra Road as a civic spine while improving the pedestrian experience around the site through landscaping and upgraded public interfaces.

“The design capitalises on the following site opportunities: reinforcement of Maroubra Road as a civic spine, enhancement of pedestrian pathways and the public interface via new landscaping, and strong market demand for two and three-bedroom apartments to support families and down-sizers,” the Design Report noted.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="ee509779-3c7e-4918-b03d-761c785459d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20site.png?VersionId=eZC4Ruyn.C7O.Qwfr1SVeP5.ds1c5.66" />

The building has been designed with setbacks and articulation intended to transition between the commercial intensity of Maroubra Junction and the surrounding lower-scale residential neighbourhoods. Communal open space is proposed on level one, while upper-level apartments would secure views towards Port Botany, Maroubra Beach and Sydney’s eastern suburbs.

The development sits around 200 metres east of the Maroubra Junction intersection of Anzac Parade and Maroubra Road, within one of Randwick’s identified strategic centres. The site is close to Pacific Square Shopping Centre, major bus routes, schools, parks and future cycling infrastructure proposed under the Maroubra Junction Masterplan.

The Maroubra proposal aligns with broader NSW Government initiatives encouraging higher-density housing near established centres and transport corridors, particularly where affordable housing is incorporated.

Bridgewell is also working on a <a href="https://www.apartments.com.au/news/qld/goldfields-sets-the-stage-as-quartet-milton-launches">new 55-unit project in Killara</a>.

First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre

National diversified developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has launched its latest Brisbane apartment project, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet Milton</a>, marking its entry into the sought-after inner-city suburb just two kilometres from the CBD.

The circa $100 million development will rise 18 storeys and deliver 131 apartments, offering a mix of one, two-, and three-bedroom residences.

Ideally located on Manning Street, Quartet residents will be within 300 metres of Milton Station, 500 metres from the Milton Ferry Wharf, and a short walk to Milton Markets, the iconic Park Road, as well as a range of breweries and cafés.

[smartcode_project:default project_id=108736 project_image_fid=367993]

Designed by architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, the building features a simple, gridded façade paired with generous glazing to enhance views, maximise aspect, and capture both sunrises and sunsets from within the apartments and their generously sized balconies.

Residents will have access to a 1,000 sqm rooftop, curated to balance wellness and entertaining, in response to increasing demand for wellness-focused shared spaces.

"We've approached Quartet Milton as a complete lifestyle offering, not just apartments, but a place where the design, amenities, and location all work together in a meaningful way," says Goldfields Managing Director Lachlan Thompson.

"Buyers are looking for that sense of confidence, knowing the vision has been carefully thought through not just by us as developers, but by all our consultants appointed to bring this together, and that it will be delivered to the standard they expect."

[smartcode_project:default project_id=108736 project_image_fid=368000]

Cera Stribley Co-Founder and Managing Principal Domenic Cerantonio said the rooftop is designed to feel like a place "you'd genuinely use every day."

"A 25-metre pool framed by city and mountain views, wellness areas, and private dining spaces for evenings with friends create a setting designed for year-round comfort and effortless Brisbane living."

[smartcode_project:default project_id=108736 project_image_fid=367999]

In addition to the 25-metre pool, the rooftop will include a sauna, cold plunge, fully equipped gym, and zen gardens, all complemented by panoramic views of the city and river.

While the building is expected to appeal predominantly to owner-occupiers, Goldfields anticipates interest from investors seeking strong rental returns, driven by the project's design, location, and the city's projected capital growth in the lead-up to the 2032 Brisbane Olympics.

[smartcode_project:default project_id=108736 project_image_fid=367991]

<a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>, widely regarded as one of Brisbane's most desirable inner-ring suburbs due to its lifestyle offering and proximity to the CBD, has experienced a shortage of new apartment supply in recent years.

Goldfields is already active in the Brisbane residential market through its Ripley Valley masterplanned community, Hayfield. The 109-hectare neighbourhood is already home to more than 300 families and features a large community park.

Plans for the precinct include a 4 km running track, future schools, and retail and commercial amenities, all within a 35-minute drive of the Brisbane CBD.

Goldfields also plans to deliver a new mixed-use tower at 88 Robertson Street in Fortitude Valley, within the James Street precinct. The project will include 16,000 sqm of boutique commercial space, a level of wellness facilities, and a rooftop restaurant and event space, akin to Goldfields House in South Yarra, its flagship mixed-use development on Chapel Street, which is crowned by the Beverly Rooftop bar, one of Melbourne’s best-known venues.

[smartcode_project_cta:default project_id=108736]

Goldfields sets the stage as Quartet Milton launches

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?

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Valuers Herron Todd White have suggested the forecast for the next four to six years across metropolitan Sydney was overall positive.
However the firm does not expect to see the very high levels of capital growth witnessed over past years.
"Due to the different markets we see throughout the city, we could write a novel on different price points and sectors that offer good growth options." 
Sydney’s inner west is expected to have "continued strong growth" over the next four to six years, the group forecasts.
"The average buyer looking for a detached dwelling in these suburbs may find themselves among some stiff competition.
"Detached dwellings achieve very good prices as they are scarce and sought after," the report said noting large variations in detached dwellings sitting on between 100 square metres to 1,000 square metres of land.
"If we specify a typical inner west suburb such as Leichhardt, a detached dwelling, on an average block size of 250 square metres, the average buyer would be spending around the $1 million mark."
For inner west units, HTW suggests the average buyer would be looking around the $600,000 mark for a 1970s, two-bedroom unit with a single carspace.
"At this price point though, we would expect good growth over the coming years as these properties become more in demand.
"Market sentiment remains very positive in this sector with properties often selling before going to auction and above the advertised asking price.
"Currently there is a lack of stock in the inner west which, with continued high demand, is helping drive these prices even higher," it noted adding that investors are very much active in the unit market at this price point due to attractive yields and extremely low vacancy rates.
The report concludes that overall, the Sydney metropolitan area is expected to see "steady capital growth" over the next four to six years.
"There are numerous suburbs that are talked about as the next area to take off; however any area with good infrastructure and proximity to services is bound to be a good performer.
"The average buyer needs to be prepared for stiff competition as low interest rates and current lack of stock in the general market will continue to put supply/ demand pressure on prices," it said.
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Inner west Sydney detached hard to come by, but best prospect for growth: Herron Todd White

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A six-bedroom Victorian terrace on Ocean Street in Woollahra sold recently for more than $7 million, and possibly close to $7.25 million.
The circa 1870 home has been redesigned by Tanner Architects and features three-metre-plus ceilings, American oak floors and marble fireplaces.
Vendors David and Louise Glen bought the property in 2009 for $4.9 million.
David is the managing director of ATM company Banktech.
The 765-square-metre home features three bathrooms and a marble island kitchen with Miele and Wolf appliances.
Outdoors, the property boasts Will Danger landscaped gardens, a glass-fronted swimming pool and an outdoor terrace.
The property was sold through Ben Collier of <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-woollahra-nsw-2025/174889">McGrath Edgecliff</a>. 
In 1988, the Victorian terrace was used as a Yugoslav Consulate and was involved in a diplomatic incident.
The Glens purchased Eltham, a circa 1880 home on Egdecliff Road in Woollahra in 2011 for $9 million.
The Victorian Regency-style home was purchased from the Roulstone who purchased the property in 2006 for $9 million.
Eltham boasts five bedrooms and four bedrooms over two levels and features a hanging chandelier in the kitchen.
The property is set on 1,518 square metres and includes a swimming pool, cabana and full sized tennis court.
Channel Seven director Bruce McWilliam purchased the two-storey property for $5.15 million in 2004 and renovated it, before selling it to the Roulstones.
The median house price in <a target="_blank" href="/news">Woollahra</a> is $1.84 million, according to RP Data.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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1870s Woollahra trophy home fetches $7 million-plus

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The number of auctions scheduled across the nation’s capital cities this week has dropped to 704, with RP Data attributing the fall to the Queen’s Birthday long weekend.
The national figure is must lower than the revised figure of 1,777 auctions last week and 1,687 auctions the previous week.
Last week, the clearance rate rose to 70.4%, up from 67.1% the previous week.
At the same time last year the clearance rate was much lower at 52.7% and only 1,339 auctions were recorded.
The weekly auction leader Melbourne has dropped below Sydney this week, with only 179 scheduled auctions, while Sydney has 350 scheduled.
It’s a big drop from last week, with Melbourne recording a revised figure of 822 auctions and 823 auctions the previous week.
Melbourne’s clearance rate increased last week from 69.2% the previous week to 71.6%.
Sydney recorded its highest weekly clearance rate in over a year last week at 80.3%, a strong increase from 71.1% recorded the previous week.
Sydney recorded a revised figure of 623 auctions last week and 598 auctions the previous week.
Auctions are forecast to bounce back after the long weekend.
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Queen's Birthday long weekend cuts scheduled auctions especially in Melbourne: RP Data

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An Alex Popov-designed home in Castlecrag is to go under the hammer for the first time with a $4.5 million-plus price guide.
The model suburb Castlecrag, located on the lower North Shore of Sydney in the city of Willoughby, was developed during the 1920s by Chicago-born Walter Burley Griffin and his wife Marion Mahony Griffin.
The four-bedroom, three-bathroom home is situated on a 1,043 square metre allotment and boasts 180-degree views.
Hidden behind sandstone walls and established gardens, the home features six metre high ceilings, a private north facing courtyard, custom designed fishpond and a heated lap pool.
The kitchen features twin Quarella stone bench tops and Viking Professional and Miele appliances.
Also included is a wine cellar with a capacity of 3,200 bottles and a French made Cheminees Philippe fireplace.
Listing agent Mark O’Brien of Richardson and Wrench says the listing has been very promising.
“There’s a recognition in the market that this is something special.
“Castlecrag is a small suburb, with less than 1,000 houses so there is not a big turnover,” says O’Brien.
The original home on the property was demolished after being purchased in 1998 for $1,435,000.
Located on Linden Way, the home will go to auction on June 12 through <a target="_blank" href="https://www.randw.com.au/879669/">Mark O’Brien of Richardson and Wrench Castlecrag and Northbridge.</a>
Property Observer <a target="_blank" href="/news">reported</a> on the sale of a $5.9 million Alex Popov-designed home in Castlecrag last month.
The median house price in <a target="_blank" href="/news">Castlecrag</a> is $1,737,500, according to RP Data.
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Alex Popov-designed Castlecrag trophy home set for auction

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On Purchase or Pass this week, we are joined by Charles Tarbey, chairman of Century 21, to evaluate a potential investment property with concrete cancer in Tamarama.

Cancer is a terrible disease and almost everyone knows someone that has been affected by it. It doesn’t just affect humans though; it also attacks property in the form of concrete cancer. Many Australians may not have come across it when searching for a home or an investment, but for those living around Australia’s beaches, it’s becoming more common with all the salty sea air. So should it turn you off a property?

This renovators delight is a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-tamarama-nsw-2026/139636" target="_blank">two-bedroom, one-bathroom unit</a> with undercover car space, 7.8 kilometres from the Sydney CBD. The block isn’t the best looking building from the rear lane access but only has nine units in it and has some tremendous views from the balcony. The property was advertised for sale for $795,000 as a deceased estate and will rent for $650 per week. The property is in need of a major renovation though, which is likely to cost around $80,000 if done properly, giving it an improved rent of $800 per week. The downside of the investment is the concrete cancer in the ceiling of the car park.

{qtube vid:=SrixG-JM1nE&amp;feature=youtu.be}

Chris Gray: So just as a general thing Charles, for people who haven’t come across concrete cancer, how bad can it be?

Charles Tarbey: Oh look, it can be repaired, you can get through it without too much issue, it just depends on how much damage there is Chris. But it can be in the millions of dollars if you’re not careful, but particularly if it’s through the whole complex, that’s something that is going to affect the strata fees.

Chris Gray: So especially when you’re in a strata block and a bigger one, then people try to hide away from things and say I’ve got no money and then it does become a major problem.

Charles Tarbey: Yeah, and the sinking fund may not cover what’s needed, more money may need to be raised. You get in there and before you know it, you’ve purchased a property that you’ve got to raise a lot more money for yourself to be a part of that complex.

Chris Gray: Now certainly looking on the internal side of it, $80,000 to transform a unit is plenty of cash. If you increase the rent by $150 on that, is that a good use of your money?

Charles Tarbey: Yeah, if you look at the interest rates today, $80,000 is probably going to be a lot less in interest repayments than it would be in rent.

Chris Gray: It’s like $4,000 a year.

Charles Tarbey: Ok, you’ll pick up there. But I think it’s the capital gain you have to look at, that’s why you’re buying these places, at the end of the day you’re looking for the capital gain and I do think capital gain is on its way back over the next couple of years and going to surprise a lot of people.

Chris Gray: How important is it putting money into the strata, I mean there is a lot of people that have been in a unit for 30 years, that bought it for probably $100,000 and it’s now worth a million, but they’re stilling not willing, because they don’t have the cash, to put money into the strata.

Charles Tarbey: I watch with interest the different types of properties that are for sale right now in the market place and what’s happened over the last few years, and I’m fortunate enough to have an apartment in the city of Sydney. I purchased it in a complex and the reason I did is because the strata is so well run and over the last three to four years, that particular strata complex and the sales that have gone through there have increased in sales, when across the road they decreased in price. I’m sorry increased in price as opposed to decrease in price and that’s because of the way the strata is run. So I think it’s absolutely critical. You could get one of those small complexes and really make them look fantastic with a small amount of money and again, it increases the value.

Chris Gray: Sounds good. Now the property was actually sold, a contract fell over and it actually sold for $700,000 odd and based on that, purchase or pass for you Charles?

Charles Tarbey: Well I think it would be great for somebody who knew what they were doing. For me, I’m too lazy so I’m going to pass. You’d probably purchase because you have the time to go in and fix it.

Chris Gray: Yeah look, for me, the unit is in a great position but it’s not in the best condition. But for me, a quick four to six week renovation will give you a massive increase in rent and give you a similar increase in equity as well. I think you’re getting the property at a great price, so even if the cancer costs $10,000 or $20,000 I think it's still good so for me it’s definitely a purchase.

 

Other properties near the Eastern Suburbs

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Purchase or Pass? An investment property with concrete cancer in Tamarama

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Ten suburbs have been added to the list of Sydney suburbs with a median house price above $1 million, but property owners and investors might hold off cracking open a bottle of Penfold’s Grange.
They may wish to open a more modest drop with APM senior economist Andrew Wilson estimating there are now around 100 Sydney suburbs with a million-dollar median house price. There are about 656 suburbs across Sydney.
Given these numbers, Dr Wilson suggests there is nothing all that prestigious about joining the million-dollar median house price.
Indeed he's calling it the “meat and potatoes of Sydney housing," in comments to Fairfax Media.
''It's as certain as death and taxes that the number of million-dollar suburbs in Sydney will rise," he adds.
Lane Cove North, Manly Vale, Connells Point, Concord, Chatswood West, Gladesville, Little Bay, Crows Nest, Abbotsford and Avalon all have medians just above $1 million based on Australian Property Monitors’ (APM) median house price data over the past six months.
<table cellspacing="0" cellpadding="0" border="0" frame="box" style="width: 370px;">
<colgroup>
<col width="62">
<col width="71">
</colgroup>
<tbody>
<tr height="51">
<td width="62" height="51">Lane Cove North</td>
<td width="71" align="right">$1,004,500</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Manly Vale</div>
</td>
<td align="right">$1,005,000</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Connells Point</div>
</td>
<td align="right">$1,005,000</td>
</tr>
<tr height="20">
<td width="62" height="20">
<div>Concord</div>
</td>
<td align="right">$1,007,500</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Chatswood West</div>
</td>
<td align="right">$1,007,000</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Gladesville</div>
</td>
<td align="right">$1,051,000</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Little Bay</div>
</td>
<td align="right">$1,055,000</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Crows Nest</div>
</td>
<td align="right">$1,055,000</td>
</tr>
<tr height="34">
<td width="62" height="34">
<div>Abbotsford</div>
</td>
<td align="right">$1,055,000</td>
</tr>
<tr height="20">
<td width="62" height="20">
<div>Avalon</div>
</td>
<td align="right">$1,062,000</td>
</tr>
</tbody>
</table>
<div>Among the best performing of the new million dollar suburbs is Manly Vale, just west of Manly but without the beach at its front door, where the median house price has risen 10% over the past year to a median of $1,005,000.</div>
Wilson says that house priced above $2 million have come back a bit but that those priced between $1 million and $2 million are rising.
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Ten new suburbs join Sydney’s "meat and potatoes” million dollar housing club: APM

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Channel Seven’s House Rules recorded its highest non-house-reveal ratings last night when it trumped its Channel Nine competitor, The Block Sky High Unlocked in the 8 pm Thursday timeslot.
House Rules rated 1.007 million across metropolitan capitals last night, according to OzTAM, the fourth most watched show last night.
The Melbourne audience had a strong 270,000 viewers - due to it being <a target="_blank" href="https://www.propertyobserver.com.au/news/preston-house-rules-renovation-with-%24524000-mortgage-after-%24555000-purchase/2013052961771" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Melbourne house week</a> on the show. The series began in the boondocks of Perth and Hobart over the first two weeks.
The Block Unlocked, a half-hour catch up show, attracted 807,000 viewers, and its Melbourne audience was an even stronger 291,000.
It is the <a target="_blank" href="/news">second week</a> in a row that House Rules has fared better than The Block when both shows have been on air at once.
However, The Block Sky High in the 7 pm slow is still attracting the most ratings with 1.087 million recorded last night – the third most watched show behind Nine and Seven news.
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House Rules hammers The Block Sky High Unlocked for a second time

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A pair of semis on the foreshore of Watsons Bay have sold for $4.25 million.
Located on Marine Parade, the residences were sold as one title, with each featuring two bedrooms and a bathroom.
The properties feature timber floors, high ceilings, north facing landscaped gardens, a deck and plunge pool.
The 491-square-metre property was granted planning approval in 2011 for one residence.
Watsons Bay is located 11 kilometres form the Sydney CBD in the municipality of Woollahra.
The property was sold through Hamish Robertson and Ben Collier of <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-watsons-bay-nsw-2030/163936">McGrath Real Estate.</a>
The semis had been offered at auction late last year by the thoroughbred-horse breeder Jocelyn May.
The Marine Parade semis were initially listed in August 2012 with $6 million price hopes but reduced to more than $4.5 million for the auction marketing campaign.
They had been owned by the May family for more than 50 years.
Elsewhere along the beachfront boardwalk near the Doyles restaurant, the May family sold another pair for $6 million to developer Graham Werry in 2007. 
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Two semis sell in Watsons Bay for $4.25 million

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The Harbourside Shopping Centre in Sydney’s Darling Harbour has been listed for sale by Suntrack Holdings, part of  John Beville’s property empire.
The three level three-level retail and entertainment centre on 20,500 square metres has more than 300 metres of water frontage to Cockle Bay.
{yoogallery src=[images/stories/2013/05/may30darlingharbour]}
Beville bought the site in 2004 for $127 million from Malaysians Kar Wai Chan and Thomas Tiong, who bought the site for $111 million in 1995 and spent $70 million refurbishing the site.
Beville’s 2004 purchase followed the $150 million sale of the Marrickville Metro shopping centre to AMP Capital Investors.
Comments by the selling agent suggest the Harbourside will sell for more than $250 million.
“One hundred per cent interests in retail property above $250 million are keenly sought after and rarely offered for sale within the Australian property market,” says Jonathan Fox from Stonebridge Property Group.
The centre, at <a href="https://www.stonebridgeproperty.com.au/property/iconic-sydney-landmark-retail/">2-10 Darling Drive</a>, has a net lettable area of 20,022 square metres and attracts 14 million visitors a year.
Beville has come under fire from the state government earlier this year, saying the 25-year old property would hamper the $2.5 billion redevelopment of Darling Harbour.
National president-elect of the Australian Institute of Architects, Paul Berkemeier, described the centre as a “tired tourist trap” and it had “passed its use-by date”.
The centre still has 75 years left on its 99-year lease from the Sydney Harbour Foreshore Authority.
The Australian Financial Review reports the site could likely attrract interest from near neighbours Infrastructure NSW, Lend Lease and Echo Entertainment, who have interest in building a hotel and casino on the site to compete with Crown’s Barangaroo development.
The shopping centre was officially opened by Queen Elizabeth in 1988 in a $1 million ceremony that included a lavish fireworks display.
<img src="/images/stories/2013/05/darlingharbourmay30one.jpg" width="342" height="494" alt="darlingharbourmay30one">
Above: Caption Ian Hayson with Queen Elizabeth at the 1988 opening of Harbourside. Image courtesy of Hayson Group.
It was built by Ian and Tom Hayson’s group Merlin Australia who bought the site, then the Sydney Wool Stores, in the 1980s.
The Haysons were keen to replicate the success of Baltimore’s redevelopment of the old Inner Harbor into festival markets for the bicentennial celebrations.
After securing the support of the premier Neville Wran and public works minister Laurie Brereton, the Hayson’s redeveloped the site into the festival markets which formed the centre piece of the bicentennial celebrations. The site was also vital in securing the Olympic Games in 2000.
It is being sold by Stonebridge Property Group agents Jonathan Fox and Carl Molony through an expression of interest campaign that closes on July 17.
Receivers of Beville’s group Bevillesta sold The Top Ryde shopping to US private equity giant Blackstone for $341 million late last year.
Top Ryde was built by Beville in 2010 and cost about $800 million but receivers were appointed a year later.
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Harbourside Shopping Centre in Darling Harbour listed for $250m plus

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Property Observer takes a look around the nation for what $300,000 or less bought you last month in a few capital cities.
A two-bedroom, one-bathroom unit in Sydney’s <a target="_blank" href="/news">Liverpool</a> sold for $230,000.
The 89-square-metre unit was advertised for $239,000 and last sold in 2006 for $170,000.
It features an entertainers balcony, floating timber floors and a single lock up garage.
It offers a rental yield of approximately 7.23% annually if rented out for the maximum asking price of $320 a week.
The property was sold through <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/charles-street-liverpool/Property-Details-sold-residential-5280535">Real Equity First National</a>.
A one-bedroom studio on Spencer Street in the <a target="_blank" href="/news">Melbourne CBD</a> sold for $225,000.
The partially furnished studio is located on the seventh floor and comes with a dishwasher, microwave, washing machine and dryer. 
The apartment complex features a gymnasium and pool.
The studio offers a rental yield of around 8%, with the potential to be let out for $320 to $350 per week.
The property was sold through Travis Corbett of <a target="_blank" href="https://www.chambersre.com.au/selling/VIC/Inner-City/Melbourne/Apartment/1P1739">Chambers Real Estate Fitzroy North</a>.
Over the nation to Perth, a one-bedroom, one-bathroom unit in <a target="_blank" href="/news">Highgate</a> sold for $297,500.
The furnished 73-square-metre unit includes a private courtyard and is within walking distance to the CBD. 
It last sold in March 2012 for $269,000 and has a rental yield of 6.12%.
It was sold through Tim Tyler of <a target="_blank" href="https://www.realestate.com.au/property-unit-wa-highgate-113786415">Tyler and Sons Perth.</a>
A one-bedroom, one-bathroom unit on Cavenagh Street in Darwin sold for $225,000.
The unit is furnished and was sold through Ron Shaw of <a target="_blank" href="https://www.realestate.com.au/property-unit-nt-darwin-111679775">Alliance Realty Larrakeyah</a>.
The unit last sold in June 2007 for $129,000 and has a rental yield of approximately 7.28%.
Down south to Tasmania where a two-bedroom unit on Cuthbertson Place in <a target="_blank" href="/news">Lenah Valley</a> sold on May 23 for $245,000 - originally advertised for $290,000.
The villa comes with a large backyard and a rear parcel of flat land that has unit potential, subject to approval.
The property has the potential of a rental yield of 5.31% with an asking rent of $250 per week.
The property was sold through <a target="_blank" href="https://www.prdnationwide.com.au/PropertySearch//pid/13577/default.aspx?pagesize=10&amp;sort=dated&amp;listtype=default&amp;page=1&amp;msp=1&amp;ssid=48969">PRD Nationwide Hobart</a>.
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