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.

&nbsp;

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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."

&nbsp;

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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."

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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.

&nbsp;

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<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, two levels 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.

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Joel Robinson

Goldfields sets the stage as Quartet Milton launches

<a href="https://www.apartments.com.au/developers/stockland">Stockland</a> and Homes NSW have taken the next major step in the transformation of Waterloo Estate, lodging a Concept State Significant Development Application and concurrent rezoning proposal for the renewal of Waterloo South.

The proposal, now on public exhibition, outlines plans for around 3,300 new homes across the 12.3-hectare precinct. A minimum 30 per cent of residential gross floor area will be delivered as social housing, approximately 20 per cent as affordable housing, and a maximum 50 per cent as market housing. The redevelopment would more than quadruple the number of homes currently on the site and more than double the existing supply of social and affordable housing.

The renewal of Waterloo South forms the first stage of the broader Waterloo Estate transformation and is set to unfold over the next 10 to 15 years. The estate currently contains 750 social housing dwellings and 120 private homes.

<img alt="First look: Stockland and Homes NSW unveil plans for 3,300-home Waterloo South renewal" data-entity-type="file" data-entity-uuid="ba2da34b-171b-4ff1-b0c7-4baf0bce97f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Waterloo%20public.png?VersionId=S5apPKOqjPHJhk_SzCvdVPxsEBYs300o" />

The proposal, prepared by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and Beam Planning, spans 10 street blocks bounded by Cope, Raglan, George, Wellington, Gibson, Kellick, Pitt and McEvoy Streets, directly adjoining the Waterloo Metro Station precinct and within walking distance of Redfern and Green Square stations.

Under the masterplan, building heights would range from two to 33 storeys, delivering approximately 282,485 sqm of residential floor space alongside at least 10,000 sqm of non-residential uses and a minimum 5,000 sqm of community space. The planning framework has been specifically structured to support the mixed-tenure outcome, with the residential gross floor area capped at a maximum 50 per cent market housing allocation.&nbsp;

The Urban Design Report describes the vision as creating “a unique and vibrant mixed-tenure housing precinct that supports the needs of the community and delivers much needed housing in response to National and State Government priorities.”&nbsp;

<img alt="First look: Stockland and Homes NSW unveil plans for 3,300-home Waterloo South renewal" data-entity-type="file" data-entity-uuid="6e1a6d8b-0626-4fa7-94fc-aa91c0af86dc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/waterloo%20per.png?VersionId=duyiJTFOeezTNdM22leI3SoHuqnW6ZaY" />

A major focus of the revised proposal has been increasing the social and affordable housing component. The Minns Government increased the affordable and public housing allocation from 35 per cent to 50 per cent after coming to office in 2023.

Minister for Housing and Homelessness Rose Jackson said the changes were critical to maintaining Waterloo’s social diversity.

“When we came to government, we immediately reviewed the plans for the Waterloo renewal and boosted the number of public and affordable homes from 35 to 50 per cent,” Jackson said.

“This was a crucial step to ensure Waterloo remains a welcoming place for people from all walks of life to call home now and into the future.”&nbsp;

Minister for Planning and Public Spaces Paul Scully said the project would reshape the precinct for generations.

“This concept DA brings thousands of new public, affordable and market homes on the doorstep of the Waterloo Metro station another step closer to reality,” Scully said.

“Importantly, alongside the new homes the plan also proposes new open space where residents and the broader community can gather, relax and play.”&nbsp;

<img alt="First look: Stockland and Homes NSW unveil plans for 3,300-home Waterloo South renewal" data-entity-type="file" data-entity-uuid="867520cb-6e07-4204-885e-53793ac88066" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Waterloo%20public%20a.png?VersionId=lgSI85Q23xBLYLC9NcWKuWZY2HfP4zQ3" />

Stockland Managing Director and CEO Tarun Gupta said the project had been shaped around long-term liveability and community infrastructure.

“As delivery partner, Stockland is proud to be working with the NSW Government on the renewal of Waterloo South – a significant project with community at its heart,” Gupta said.&nbsp;

The planning documents place strong emphasis on “Designing with Country,” recognising the site’s location on Gadigal land. The masterplan incorporates new east-west pedestrian links, activated streetscapes, rooftop communal spaces, retail frontages, and landscaped public areas intended to improve permeability and community connection throughout the estate.&nbsp;

The proposal also seeks to establish a more flexible planning framework for future detailed SSDAs, including updated provisions for educational uses, creative industries, rooftop communal areas, and active frontages. A minimum seven per cent of residential floor space will be delivered as affordable housing managed in perpetuity by community housing provider City West Housing.&nbsp;

The Social Impact Assessment prepared by Urbis describes the renewal as one of Australia’s most significant public housing transformations, identifying substantial long-term positive impacts associated with housing supply, accessibility, public domain improvements, and community infrastructure.&nbsp;

Stockland and Homes NSW have already commenced the first stage of resident relocations, with some tenants moved into newly completed homes at Waterloo Metro Quarter and the Boronia development nearby.

First look: Stockland, NSW Gov, unveils plans for 3,300-home Waterloo South renewal

<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

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The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

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Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

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Smith by Valli delivers design-led apartments to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

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Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

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The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

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The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

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Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

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The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

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.

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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.

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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.

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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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The long-established horse riding school Samarai Park in Terrey Hills, NSW, has been sold, but for a little less than its $3 million price expectations.
Property Observer <a href="https://www.propertyobserver.com.au/new-south-wales/samurai-park-riding-school-on-sydney-s-outskirts-listed/2012091956689" target="_blank">reported</a> on the listing in September last year, when the two-hectare northern beaches acreage was listed by Kevin Packham from LJ Hooker.
The sale was lower than that of its prior $3.28 million sale in 2007.
Located at 90 Booralie Road, Terrey Hills, just 20 minutes from the Sydney CBD, Samarai Park offers expansive northerly bushland views over its two-hectare holding.
The horse riding school opened in 1956 and still offers agistment, lessons, riding camps and children’s birthday parties.
Samarai Park was founded by Thelma Budrodeen.
The property was sold by the Budrodeen family in 1998 for $1.25 million, with it onselling again in 2000 at $1.6 million.
It still operates as a riding school and offers boarding for horses for $235 per week. Float storage is also available for an extra $15 per week.
Samarai Park is centred close to the Ku-ring-gai Chase National Park, with direct access to national park riding trails.
The property comprises of an office and shops, staff quarters/self-contained flat, two full-size dressage arenas and a full-size jumping area with lighting.
Samarai Park has 33 stables, 24 day yards, tack, feed and storage rooms, a lunging area, wash bays and three work sheds plus a dam.
The three-bedroom home located on the property consists of a study, two bathrooms and an outdoor swimming pool. The outside parking accommodates for 20-plus vehicles.
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ntrotman-Et3xWpamVh

Samarai riding school falls short of its desired $3 million price hurdle

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Before Christmas the celebrity builder Scott Cam was seeking $3,100 a week tenants at his redundant Rosebery house following his $4.6 million Vaucluse mansion purchase.
Cam, who will thrown in a gardener and pool man for the new occupants who take up the rental, is now seeking $2,900 a week occupants.
Even with the price adjustment its the dearest rental by far in the fringe eastern Sydney suburb, where the next dearest rent is $1,200 a week.
<a href="https://www.realestate.com.au/property-house-nsw-rosebery-409349331" target="_blank" rel="nofollow">It is, however, a remarkable contemporary, custom-built family residence</a>.
There's huge open-plan living, dining and family entertaining zones with soaring ceilings, glass walls and louvres, polished concrete floors and two Jetmaster fireplaces.
Its Caesarstone kitchen comes with Ilve appliances, five-burner gas hob, double oven, dishwasher and walk-in pantry.
The private master suite occupies the entire upper level features double walk-in-robes, sunroom, adjoining study/nursery and Japanese-inspired ensuite.
There are an additional four double bedrooms, all with built-ins.
The grounds have north-facing grassed garden with solar-heated saltwater pool complete with decking, sunbeds and a separate cabana with kitchen/wet bar, living room, home theatre, guest bedroom, bathroom and steam room.
It comes with "big workshop space" (pictured below) plus office.
<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/stories/2012/12/camtoolroom.jpg">
The celebrity builder, who launched his TV career in 2000 alongside Jamie Durie on Backyard Blitz, also appears on Backyard Blitz, Domestic Blitz, Random Acts of Kindness and Renovation Rescue.
This year he headlines the highly anticipated The Block All Stars. 
 
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jchancellor-FAypfDUnLy

Scott Cam reduces Rosebery rental to $2,900 a week

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Over the past three-year period the value of residential land in the Gosford local government area has generally showed a slight to moderate decrease, according to the NSW Valuer-General Philip Western.
It follows the release of fresh valuations for 63,292 properties in the Gosford local government area.
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The total land value of the Gosford municipality as at July 1, 2012, was $19.66 billion, a decrease from the total land value of $20.88 billion determined as at July 1, 2009.
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Residential land in areas such as <a target="_blank" href="/news">Avoca Beach</a>, <a target="_blank" href="/news">Copacabana</a>, <a target="_blank" href="/news">Gosford</a>, <a target="_blank" href="/news">MacMasters Beach</a>, <a target="_blank" href="/news">Koolewong </a>and <a target="_blank" href="/news">Davistown</a> showed a slight to moderate increase in value.
Beach front properties in <a target="_blank" href="/news">North Avoca</a> also showed a slight increase in value, but beach front properties at <a target="_blank" href="/news">Avoca Beach</a> showed a slight decrease.
The value of coastal rural residential land varied with some properties showing a moderate increase and others showing a moderate decrease. Rural residential land in the hinterland has generally shown a slight to moderate decrease, with the more rugged and less cleared sites showing a stronger than average decrease. Hinterland properties in the more prime locations showed a slight increase in value.
The value of commercial land generally showed a slight decrease, with the exception of the prime suburb of <a target="_blank" href="/news">Erina</a>, which showed slight to strong decreases in value, and commercial land values in <a target="_blank" href="/news">Terrigal</a>, which showed a slight increase.
Commercial land values in <a target="_blank" href="/news">Gosford</a> and <a target="_blank" href="/news">Woy Woy</a> showed a range of changes, from slight increase to slight decrease, while most of the commercial land in <a target="_blank" href="/news">Ettalong Beach</a> showed a moderate increase.
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Industrial land in the Gosford LGA also generally showed a slight decrease in value, with the exception of land in North Gosford, which remained steady or showed a slight increase in value.
Typical residential land values as at 1 July 2012 were: • 670 square metres at Amethyst Avenue, Pearl Beach valued at $513,000 • 727 square metres at Avoca Drive, Avoca Beach valued at $2,730,000 • 613 square metres at Dale Close, Terrigal valued at $350,000 • 556 square metres at North Avoca Parade, North Avoca valued at $2,720,000
• 696 square metres at Paton Street, Woy Woy valued at $235,000 • 613 square metres at Patrick Crescent, Saratoga valued at $247,000 • 664 square metres at Salacia Close, St Huberts Island valued at $490,000 • 683 square metres at Webb Street, East Gosford valued at $290,000.
Typical commercial land values as at 1 July 2012 were: • 479 square metres at Blackwall Road, Woy Woy valued at $399,000 • 234 square metres at T errigal Esplanade, Terrigal valued at $1,280,000
• 259 square metres at Victoria Street, East Gosford valued at $240,000
• 526 square metres at Watt Street, Gosford valued at $415,000
• 266 square metres at West Street, Umina Beach valued at $400,000.
Typical industrial land values as at 1 July 2012 were: • 481 square metres at Alma Avenue, Woy Woy valued at $223,000 • 2,149 square metres at Bonnal Road, Erina valued at $547,000 • 4,204 square metres at Bowen Crescent, West Gosford valued at $455,000 • 2,639 square metres at Brooks Avenue, Wyoming valued at $371,000 • 4,000 square metres at Somersby Falls Road, Somersby valued at $526,000.
Typical rural residential land values as at 1 July 2012 were: • 4,047 square metres at Avoca Drive, Green Point valued at $190,000 • 1.1 hectares at Doyle Street, Macmasters Beach valued at $400,000 • 2 hectares at Fagans Road, Lisarow valued at $400,000 • 1 hectare at Matcham Road, Matcham valued at $560,000 • 1 hectare at Nursery Street, Narara valued at $308,000 • 1 hectare at Scenic Highway, Terrigal valued at $900,000 • 1 hectare at Tumbi Road, Wamberal valued at $430,000 • 4,047 square metres at Yugari Crescent, Daleys Point valued at $275,000.
Typical hobby farm land values as at 1 July 2012 were: • 8.7 hectares at Hayden Road, Wamberal valued at $620,000 • 19 hectares at Pacific Highway, Mount White valued at $680,000 • 48 hectares at Peats Ridge Road, Peats Ridge valued at $1,470,000
• 8.1 hectares at Wisemans Ferry Road, Mangrove Mountain valued at $550,000.
The last valuations have been compiled during the 2012 valuation program from the analysis of 720 residential, 50 commercial, 30 industrial and 120 rural sales.
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Landowners in Gosford LGA were last issued with a notice of valuation showing their property’s land value as at July 1, 2009.
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Gosford land values dip or rise marginally in past three years

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The artist David Bromley and his partner, Yuge Yu, have adjusted price expectations on their current Byron Bay abode on the the NSW north coast.
Bromley, one of Australia's most prolific artists, and Yu, a fashion designer, have cut the asking price on the Jonson Street property from $1.55 million to $1.4 million.
The couple's home and studio is on the market, with the couple planning to move to semi-rural acreage just outside Byron Bay.
It's a 1,012-square-metre Jonson Street property, a five-minute walk from the beach, designed for indoor/outdoor living, with shaded timber decking, a courtyard and leafy gardens.
The original three-bedroom cottage comes with outbuildings that allow for, all up, five bedrooms. There is commercial zoning.
It's been listed by Jamie Marshall and Mary O'Connor of Bangalow Real Estate, in conjunction with Ray White agent Lloyd Lawton.
The property is being offer with painted murals in the courtyard, on the side of the house, in two bedrooms and in the living area.
In its backyard, there’s a vintage AirStream caravan with a deck and Japanese hot tub, and a Studebaker ute decked out with tropical plants.
<a href="https://www.propertyobserver.com.au/https://www.bangalowrealestate.com.au/property/details/445" target="_blank" rel="nofollow">It’s priced at $1.4 million</a>.
The property was bought by Bromley's former partner of 17 years,  Tori Dixon-Whittle, who paid $1.15 million in 2007. Dixon-Whittle and their three children now live in Vietnam.
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Artist David Bromley knocks $150,000 off his Byron Bay asking price

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Le Chateau, a landmark manor house at Dural, has been sold, having been listed last October with $6.5 million hopes. It represents a relatively snappy sale, as RP Data note the average time on market before sale as 106 days in Dural, and even longer for prestige listings.

Mixing modern with medieval, the prestige listing in the semi-rural Hills District north-west of Sydney was the location of the Channel 7 recent television series Beauty and the Geek.

The marketing was previously put on hold while the owners enjoyed the income from the television production. No word yet but having pai close to the asking price, its probable the series will need a new accomodation base.

Owned by telco millionaire Colin Marland and his wife, Julie Anne, the vast<a href="/news"> Dural</a> French-inspired mansion is set on two hectares of manicured grounds. <a href="https://www.kenjacobs.com.au/598825/" rel="nofollow" target="_blank"> It was sold through Christie's agents Ken Jacobs and Darren Curtis</a> to offshore buyers.

The two-storey residence has five bedrooms, each with a travertine ensuite and walk-in wardrobe.

There is a grand entry foyer leading to formal and informal living, dining and entertainment areas, including a family room with an eight-metre-high ceiling.

The vast 1,770-square-metre Vineys Lane residence was built in 1997 for Ian Beilby, who made his money from hair-care products, electrical appliances and property development, and his wife, Jill.

Le Chateau last sold for $4 million to the Marlands in 2000. No sale price has yet been revealed.

The last Dural castle listing took three years to sell when in March last year Myriam Borg, founder of Cre8 Australia,<a href="https://www.propertyobserver.com.au/new-south-wales/french-inspired-dural-castle-normandie-sells-after-owners-failed-to-keep-mortgagees-at-bay/2012032654022" target="_blank"> bought the Dural French-inspired castle Normandie</a>. The mortgagees-in-possession sold it off at $2.95 million. The vendors had wanted more than $6.25 million ever since listing it in 2009. Built in 1985 by Bronte Douglass, the founder of Douglass Pathology, and his wife, Darlene, the imposing sandstone residence had four bedroom suites, a grand reception hall and a billiard room. In the 2.2-hectare grounds are sweeping lawns, ornamental trees, a tennis court and swimming pool.

<h2>NSW properties selling now:</h2>

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Beauty and the Geek locale Le Chateau in Dural sells

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Overall NSW land values declined by 0.36% in 2011-12, according to the NSW Valuer-General, compared with a 1.7% increase for the prior annual period.
The total residential land value for NSW decreased overall by 0.24% for the 2011-12 period, compared with an overall 2.1% increase for the prior period. It was the first fall in six years.
Land valuation notices will be mailed to 795,000 ratepayers in 45 local government areas over the next four weeks, commencing January 7, NSW Valuer-General Philip Western said today.
“Some 2.46 million properties were valued as at 1 July 2012 producing a total land value for NSW of around $976 billion,” Western says.
The 45 councils are those that will review their council rates model this year based upon the latest valuations.
“Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates,” Western says.
The largest falls in Sydney residential values were in the pricier municipalities, topped by a 7.3% fall in <a target="_blank" href="/news">Woollahra </a>to a $1.27 million median. Values rising strongly in the inner west was a noticeable trend, along with the outer-west mortgage belt heartland.
The NSW Valuer-General has determined that the land tax threshold for the 2013 land tax year is $406,000, so any property, or collection of investment property, with values above $406,000 will be liable for land tax.
After Woollahra's dramatic fall, <a target="_blank" href="/news">Randwick</a>'s 4.5% drop was next most pronounced to a $716,000 median.
Pittwater shed another 4% to a $620,000 median land value in 2011-12, after a 3.7% decline a year earlier.
Values fell 3.7% in the <a target="_blank" href="/news">Canada Bay</a> municipality to a $677,000 median.
<a target="_blank" href="/news">Waverley </a>land values fell 3.2% to a $968,000 median.
<a target="_blank" href="/news">Mosman </a>land values fell 3% to a $1.28 million median land value.
The largest gain in median residential land values was the <a target="_blank" href="/news">Strathfield</a> municipality, which rose 12.3% to a $747,000 median land value, followed by another Sydney inner-west locality, <a target="_blank" href="/news">Marrickville, </a>rising 10% to a $441,000 median land value.
<a target="_blank" href="/news">Burwood </a>recorded strong growth in values, up 8% to a $555,000 median land value, along with <a target="_blank" href="/news">Ashfield, </a>where values rose 4.8% to a $545,000 median land value.
But <a target="_blank" href="/news">Leichhardt </a>dipped by 1.5% to a $602,000 median land value after recent strong gains.
The outer-west municipalities of <a target="_blank" href="/news">Camden</a> and <a target="_blank" href="/news">Campbelltown</a> recorded strong growth. Campbelltown's median land value was up 4.9% to $171,000, and Camden was up 4.8% to $220,000.
 
 
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Woollahra wears the brunt of the official falls in NSW land values: Valuer-General

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YBR boss Mark Bouris has had his pad in The Astor on Macquarie Street, Sydney quietly listed for sale for the past few months.
It was in 2006 when he bought<a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Sydney/?adid=2010091212" target="_blank"> the five-bedroom, two-storey north-east corner apartment </a>from then Astor chairman Peter Kernaghan.
There's no price estimate available to Title Tattle from its listing agents, Lisa Steel and David Newgrosh, but it might have $10 million-plus hopes given its lavish renovation, and noting a two-bedroom 11th-floor unit comes with a $3.15 million asking price through McGrath Estate Agents.
It has an estimated 440 square metre space over what were three separate apartments.
Its also <a href="https://www.propertyobserver.com.au/https://www.lisasteele.com.au/property/details/469" target="_blank">been available for rent at $3950 a week</a>.
{yoogallery src=[images/stories/2012/12/dec20bouris]}
It's best known for when occupied by entertainer Barry Humphries, before it sold for $800,000 in 1987, and then extended with the addition of another adjoining apartment.
It comes with sweeping semi-spiral staircase to the upper level, where there is a "magnificent master bedroom suite" with private study, walk-in dressing room and ensuite bathroom.
The very private Mark Bouris has resticted internal photos to just the one image, although all who've been through say its a stunning apartment.
Title Tattle last inspected the apartment back in 1986 when its was Dame Edna's possum pit. At the time it was also a split-level triplex. The then selling agent was Tim Mansfield at the Andrew Gibbons agency whose pioneering selling technique included a three minute promotional video. The price back then was $1.25 million for the then seven bedroom apartment, with the apartment split back into two leaving one with the gracious wrought iron staircase for grand entrances.
The Astor is the 12-storey, 1920s company title block that once dominated not only the city skyline but Sydney society.
Despite being the city's oldest apartment complex - and facing serious competition from many nearby new developments – it continues to attract buyers, especially when a modernised apartment comes with parking elsewhere on the strip. Especially after the elegant Iain Halliday-designedrenovation benchmark set in the mid-1990s after style-setters, ad man John Nankervis and wife Amanda bought their $535,000 third-floor deceased estate unit. 
Bouris took up his ownership having previously had digs elsewhere on Macquarie Street, in the Bennelong complex.
Over the years the block of apartments has been home to Lisa Rochfort, who was the managing director of Australian couture jewellers Fairfax &amp; Roberts, adman Harold Mitchell, Pioneer founder Sir Tristan Antico, broadcaster John Laws and artist Portia Geach.
Being company title, keeping track of pricing and sales figures is a little difficult, though in 1932 the eighth-floor north-east corner block was passed in at 4300 pounds.
Peter Kernaghan had knocked back $3.82 million when he sought to sell it in 2002.
The <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-sydney-nsw-2000/161473" target="_blank">1101 Astor listing</a>, which had initial $3.35 million asking price,  is a north-east facing, two bedroom apartment.
Its possibly the apartment rented by the Sydney Harbour Bridge engineer Lawrence Ennis, of Dorman, Long &amp; Co, who would look through his telescope to check on the progress of the bridge's construction.
The Astor was Sydney's highest residential building from 1923 until 1960 and its off-the-plan prices ranged from 1500 pounds to 2700 pounds.
 
 
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Mark Bouris lists his Astor apartment on Sydney's high society Macquarie Street

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<img height="353" width="470" src="/images/stories/2012/12/alexanderst.jpg" alt="alexanderst">
In our Purchase or Pass segment this week I am joined by Stuart Waugh, the executive director at Bell Partners, to asses another potential property investment. As always the location is a given, it’s the finer details about the property that we can debate.
It’s a three-bedroom unit with a lock up garage, 8.6-kilometres from the CBD and less than 500-metres to the action. The unit is in a block of 26 units set out in a horseshoe shape with three entrances and two different garage areas. The unit is east and west facing with views from the balcony across the district and the ocean. The unit recently sold for $855,000 and rents for $840.
Chris Gray: The first thing I want to concentrate on is basically the size of the block. I always prefer to get in small blocks of 12 units, this is 26, what difference does this generally make being in a big block rather than a small block? 
 
Stuart Waugh: Big blocks generally mean strata levies are quite high and there could be things wrong with the building. There could be a couple of lifts in there, so you have to maintain all these things. You and I were just talking before coming on the show about maintaining blocks and how expensive they can be. Just be careful with big blocks like these, you could get strata levies that may be unaffordable.
Chris Gray: Also the thing I find with bigger blocks is it’s hard to get decisions made. Trying to get 12 people on the same page at the same time is a nightmare, trying to get 26 people is almost impossible. Things then don’t happen and a $100,000 problem turns into a million dollar problem.
Stuart Waugh: Exactly right, you see blocks deteriorate over time because they can’t get a decision made so therefore you have things growing all over the brickwork. You get concrete cancer and you have landscaping that’s not maintained. Those sorts of things can be a big deterrent to a building. You’re right, if you have big meetings and big decisions to make, it doesn’t happen.
Chris Gray: The first property I bought in Coogee in the late nineties, we have to raise $100,000 to get the roof replaced, which is $10,000 each. But we’re trying to say pre-worn, we need to fix balconies, we need to render, we need to spend $1 million in the next few years… it’s never a good time is it?
Stuart Waugh: No, especially in apartments because people who buy apartments can’t afford $100,00. They’re going to be first homebuyers, young families, those sort of people don’t have $100,000 lying around. It’s not going to happen.
Chris Gray: And then the 65 year olds who have paid off their mortgages might have the equity but they do not want to get a mortgage at 65.
Stuart Waugh: That’s right, they have plenty of equity and assets like you said but not the cash flow to service a debt if they do get debt.
Chris Gray: One of the things I did like about this particular block is there’s two separate entrances on different streets. So suddenly it’s not like your Sydney parking 26 cars, so it’s kind of split in half. Also in the horse shoe shape there’s three different entrances and it’s only three-stories so it’s not the same as being in a 26-storey building with massive a car park. You have to try to look at the building, because they’re not all the same are they?
Stuart Waugh: Exactly right, if you had have seen this in the newspaper with 26 units you probably would have assumed it’s a ten storey building but that’s not the case with this one, there is actually a couple of entrances.
Chris Gray: And obviously that’s why the agents don’t put in the effort as well.
The other thing I was going to concentrate on was a three-bedroom at $855,000, it’s obviously slightly more expensive a three-bedder over two, an issue for you?
Stuart Waugh: Not in this case, the yield was quite good. I thought $855,000 was quite reasonable and quite a well maintained block. The yield was quite attractive in this particular case.
Chris Gray: Purchase or pass for you?
Stuart Waugh: I say purchase.
Chris Gray: Overall, I think this is a good unit and you can overcome being in a bigger block due to those separate entrances we just talked about and being low rise, which still makes it feel reasonably boutique. Sometimes a three-bedder can be a good option for affordable renting between three people, and you end up with a higher rental yield than maybe going for a two-bedder. If it were me, I’d go for a purchase to slightly diversify my current portfolio.
Chris Gray is a buyer’s agent at <a rel="nofollow" href="https://www.yourempire.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or Pass? A three-bedroom Coogee apartment

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The Sydney median house price gained just 0.4% in the September quarter while unit prices were unchanged as the strongest growth was recorded in outer suburbs to the west and north, according to the latest figures released this week by the Real Estate Institute of NSW (REINSW).
The median Sydney house price stands at $567,000 still 3.1% down over the 12 months to September while the unit price stands at $460,000, down 1.1% over the same period.
The inner and middle suburbs of Sydney have borne the brunt of house price declines with the median house price for inner city suburbs down 2.8% over the past 12 months to a median $1.03 million while middle suburb house prices have fallen 3.3% over the same period to $720,000.
House prices in the prestige Eastern suburbs local of Woollahra have fallen 21% over the past year from $1.9 million to $1.45 million from 90 sales while houses in Mosman on the north shore have fallen 15% from $2.25 million to $1.9 million with 279 sales recorded.
The outer suburbs, predominantly in the west, were the ‘good news’ story, having avoided the drops experienced in inner and middle parts of the city, with the median house price remaining stable at $460,000.
Unit prices made their strongest gains in the Blue Mountains LGA rising 8.6% to a median of $315,000 with four of the top performing unit markets in Sydney’s outer west. The exception was Ku-Ring Gai to the north.
Across Sydney, the more affordable unit market performed decidedly better than houses with 25 Sydney LGA recorded gains in their unit prices and only 15 recorded falls. The Manly LGA recorded the biggest annual fall in unit prices – 8.5% to a median of $670,000.
Top five performing Sydney LGAs year to September 2012 - Units
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="154" valign="top">
LGA
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Gain over year
</td>
</tr>
<tr>
<td width="154" valign="top">
Blue Mountains
</td>
<td width="154" valign="top">
$315,000
</td>
<td width="154" valign="top">
8.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Campbelltown
</td>
<td width="154" valign="top">
$256,000
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Camden
</td>
<td width="154" valign="top">
$324,000
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Ku-Ring Gai
</td>
<td width="154" valign="top">
$662,000
</td>
<td width="154" valign="top">
5.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Bankstown
</td>
<td width="154" valign="top">
$346,000
</td>
<td width="154" valign="top">
4.4%
</td>
</tr>
</tbody></table>
Source REINSW
There were only 13 Sydney LGAs that recorded house price gains over the year to September with 26 LGAs recording falls.
The top performer was Camden in the south west, which managed a gain of 2.8% to a median of $452,250 over the year to September with the outer western suburbs (Penrith, Wollondilly, Bankstown) again prominent among the top performers, with Drummoyne in the inner west the exception to the rule.
Top five performing Sydney LGAs year to September 2012 - Houses
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="154" valign="top">
LGA
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Gain over year
</td>
</tr>
<tr>
<td width="154" valign="top">
Camden
</td>
<td width="154" valign="top">
$452,250
</td>
<td width="154" valign="top">
2.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Penrith
</td>
<td width="154" valign="top">
$380,000
</td>
<td width="154" valign="top">
2.7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Drummoyne
</td>
<td width="154" valign="top">
$1,100,000
</td>
<td width="154" valign="top">
2.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Wollondilly
</td>
<td width="154" valign="top">
$438,000
</td>
<td width="154" valign="top">
2.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Bankstown
</td>
<td width="154" valign="top">
$540,000
</td>
<td width="154" valign="top">
2.3%
</td>
</tr>
</tbody></table>
Source: REINSW
There were much strong gains in some of the major regional towns headed by the Upper Hunter, with its house prices up 11.1% to a median of $306,000 ahead of Greater Lithgow, which recording a 9.6% gain to $232,500 and Singleton, up 7.5% to a median of $428,000.
There were also gains for Bathurst (up 5.4% to $510,000) and Dubbo (up 3.8% to $269,500).
However, the regions were very much a mixed bag with losses recorded in Wagga Wagga (down 3.3% to median of $300,000), Tweed (down 5.1% to $438,000), Port Macquarie Hastings (down 3.1% to $376,500) and Kempsey (down 8.6% to median of $267,500).
Wollongong house prices are down 2.2% for the year to a median of $440,000 while Newcastle house price are down o.5% to a median $385,000.
Commenting on the Sydney metropolitan market, REINSW chief executive Tim McKibbin says the flow-on effect from interest rates has yet to be seen.
“As conditions in the US improve, it is having an impact on our market and the overly cautious outlook we have had is beginning to ease.
“While we will not see sharp rises in property in 2013, we do expect to see consistent growth,” he says.
</body></html>

lschlesinger-FZcF9M3vE6

Sydney house and unit prices continue to tread water with strongest gains in far outer suburbs: REINSW

<html><body>
The Belrose Hotel on Sydney's northern beaches has sold to the Redcape Property Fund for about $23 million through Ray White Hotels.
The pub was bought from the Bayfield family who gave it a $10 million facelift in 2009.
The facelift involved turning the Belrose Hotel – formerly The President - into a modern pub with bar, bistro, café, gaming area and multiple restaurant areas.
The hotel was last listed for sale in 2006 and sold for $14 million.
The Redcape Property Group is run by the former Foster's chief executive Trevor O'Hoy.
The selling agent, Ray White Hotels managing director Andrew Jolliffe, said the hotel was "a near perfect example of a future-proofed large format suburban hotel freehold, enjoying multiple revenue streams, ample parking and high barriers to entry for proximate competition."</body></html>

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