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.

[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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40 Martin Road, Centennial Park, NSW, 2021
Built in 1968 and designed by architect Nicholas Munster, this home shows off the Modernist design principles of a light-filled interior and cross-flow ventilation. At the time it was considered revolutionary, with curved walls and ceiling features, marble and terrazzo floors and an indoor tiled fish pond. The four-bedroom, five-bathroom house, called Camelot, is in one of Sydney's most tightly held areas, Centennial Park.  It includes a sauna and landscaped gardens and is being sold through <a href="https://www.kenjacobs.com.au/" target="_blank" title="Ken Jacobs">Ken Jacobs Christies</a> agent Ken Jacobs, with price hopes of $5.4 million. In October 2010 the property came on the market with price hopes of $6.5 million. 
 
 
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cknowlton-QnEa6ntUYP

Welcome to the '60s in Centennial Park

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116 Queens Road, Connells Point, NSW, 2221
This five-bedroom, five-bathroom house with uninterrupted views of the Georges River sold on June 23 for $3.03 million. It was initially listed for August 2009 auction with $3,375,000 price hopes, according to RP Data. It was the third sale in Connells Point above $3 million. The 700-square-metre luxury home features a fully tiled indoor pool, a second kitchen and a surround-sound home theatre with seven leather recliners. It has two storerooms, terraced gardens and the state-of-the-art conveniences and fittings that one would expect at this price point. The house was sold by <a target="_blank" title="Belle Property" href="https://www.belleproperty.com/">Belle Property</a> agent Brett Ramsey. 
 
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Connells Point beauty sells for $3.03 million

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As food guru Jamie Oliver prepares for the September opening of his new restaurant at leased premises in 107 Pitt Street in the Sydney CBD, demand for retail space from restaurants, cafes and takeaways continues to remain strong and defy the overall retail trend.
Oliver is currently refitting his first Jamie's Italian in Australia, which will cater to up to 200 guests at the Pitt Street location.
According to CB Richard Ellis agents James McNeill and Leif Olson, the arrival of the English restaurateur will enhance the city's array of international eateries.
In its latest report on the NSW retail market, CBRE notes that the café, restaurant and takeaway subsector has achieved annual sales growth of 5.8% for the year to June 2011.
In contrast to the fashion sector, down 5.2% for the year, Olson says the food sector is up as NSW households have “wined and dined their way through the first half of the year”.
As a result CBRE retail is fielding “a number of enquiries from noted Sydney establishments seeking opportunities in the lower north shore and eastern suburbs”.
This growth has come against a backdrop of lacklustre overall retail growth in Sydney, with prime rents falling by 11% over the previous year to an indicative $2,473 per square metre and further rental reductions expected in the short term as national retailers closed underperforming stores to focus on Pitt Street Mall locations.
BlackRock Property Trust, landlord of the building at 107 Pitt Street, where Oliver has lease space, notes that it has been successful in concluding leasing transactions throughout the March quarter of 2011.
The café, restaurant and takeaway subsector is further benefiting from City of Sydney’s introduction of the Liquor Amendment (Small Bars and Restaurants) Bill 2007, designed to stimulate the CBD’s laneways.
“Sydney’s western corridor is a particularly popular small bar precinct, as the location captures foot traffic from the surrounding offices. Among recent additions to the western corridor are Shirt Bar and Grandmas Bar,” McNeill says.
Commenting on the launch of his Sydney eatery, Oliver says Australia has always been close to his heart since he first visited around a decade ago.
“I get a lot of wonderful tweets and emails from Australians who have eaten at Jamie’s Italians in the UK, so now to have a Jamie’s Italian open in Sydney is really special for me,” he says.
Other notable food retail openings include Westfield's Food on Five food court in the new Pitt Street Mall flagship mall, Cuban restaurant and bar La Bodeguita Del Medio at 125 York Street and Stitch Bar at 61 York Street.
Development applications have also been lodged for a new Fratelli Fresh in the basement of the Burns Philp building at 7 Bridge Street and a new Pie Face store at the corner of Bridge and George streets.
John Bowie Wilson, director of CBD sales and investment services at Colliers, told the Sydney Morning Herald the expansion of the food and beverage offerings was ensuring owners of inner-city buildings were able to fill vacancies left by traditional retailers.
"While traditional retailers are losing market share to websites, food and beverage operators still need shopfronts," he says "The lower price point of cafes and restaurants and the non-discretionary nature of food sales mean that turnover has not declined to the extent of other retail categories.”
Other recent sales of restaurants and cafes have included the Spicy Sichuan Restaurant in Cunningham Street for $4.3 million; Fratelli Fresh store and cafe in Hickson Road for $3 million; 8 Quay Street in Haymarket for $8.2 million and the Belgium Beer Cafe in Harrington Street for $4.2 million.
Colliers has also noted increasing inquiry levels from international operators who viewed the Sydney economy as more robust than other global centres.
According to the CBRE report, consumers are continuing to adopt a “wait and see” approach to retail expenditure with fashion retailing, one of the harder hit subsectors.</body></html>

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Jamie Oliver's Sydney premises highlights appetite for eatery space

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About 15% of first-time property investors on the Gold Coast plan to use their self-managed super funds to buy their first investment properties, according to a recent survey.
Nearly 6% intend to use their SMSFs to purchase the property in its entirety, and about 9% expect to use their super to help supplement other sources of funding, according to Mortgage Choice’s First Time Property Investor survey.
Gold Coast SMSF property investment intentions are head-and-shoulders above any other region in Australia, with just 6% of Sydney investors and 5% of Melbourne investors planning to tap into their super funds when making their first acquisition.
A higher proportion of Gold Coast respondents to the survey were baby boomers (38%), compared with 27% nationally. Generation X was also represented more highly on the Gold Coast (53% of survey respondents, vs. 45% nationally).
One baby boomer respondent living on the Gold Coast says: “I think there will be another super drop in the next 12 to 18 months, so feel property is safer”.
“For many people, the older they become the closer ensuring they have enough super for a comfortable retirement moves to the forefront of their financial concerns,” Mortgage Choice spokeswoman Kristy Sheppard says.
According to the survey, Queensland is the preferred destination for 22% of Australian property investors, followed by Victoria at 21%. NSW ranked a joint third with South Australia and WA at 18%.
Leanne Pilkington, general manager of Laing &amp; Simmons, says high prices in Sydney are driving investors to look to markets like Queensland and Victoria.
“Sydney is so expensive. It’s just not affordable, compared, in particurlar, to Queensland,” she recently told the AFR.
“Investors need to look at other options because they can’t invest in Sydney,” she adds.
According to SMSF administrator Multiport, DIY funds allocation to direct property rose to 14% in March 2011 from 12% at the end of March last year, with residential property gaining traction at the expense of commercial properties such as small offices and industrial warehouses.
A similar study carried out in 2009 did not break down the responses into regions, but found that around 4.5% of first-time investors planned to use their SMSF to either to buy an investment property outright or to help fund its purchase.
In 2011, the overall figure is down slightly to 4%.
The most popular properties sought by first time investors are small houses with between one and three bedrooms, followed by larger houses and one- and two-bedroom units.
The survey accumulated responses from more than 1,000 people who plan to buy an investment property by July 2013.
Click to download 16 Questions Self-Managed Super Fund Trustees Should Ask Before Investing in Property.
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Despite downturn, property still popular for Gold Coast super investors

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<img src="/images/stories/stjohns2-cropped.png">
The historic St John’s church site, one of the oldest and most well-known properties on Sydney’s Oxford Street strip, is being transformed into a boutique residential and retail project.
The St John’s Paddington project comes with eight residences as well as retail and café space fronting the busy Sydney hub.
Prices start at $1,675,000 in the project, which is being developed by Australasia Properties Pty Ltd and marketed through Savills residential projects divisional director, Peter Coulton.
The site was sold by Savills last year for $9 million to the developers who have since worked with designers Ancher Mortlock Woolley and architects Marchese Partners.
They have adjusted the initial 2005 conditional development consent for the redevelopment granted by the Land &amp; Environment Court.
“For almost two decades the buildings have been left vacant, subject to vandalism and in an increasing state of deterioration,” its April 2011 Graham Brooks &amp; Associates heritage impact statement says.
It has frontages to Oxford and Regent streets, and at the rear, Renny Lane.
“These historic Paddington landmarks will be given a new lease of life,” Mr Coulton says.
The terrace-like apartments range from 171 square metres up to 339 square metres.
The free-standing 1904 former manse will be a Torrens title offering. It’s a two-storey Federation Arts and Crafts property on Regent Street.
The St John’s manse was built in 1845, with later additions, making it one of Paddington’s oldest buildings. The colonial Georgian manse, built at a cost of 240 pounds, has had a small tree growing in its chimney for several years.
In 1859 the Gothic-style St John’s church was built next door to a design by Henry Robertson.
In 1885 it was extended by the church hall at the rear. It was deconsecrated as a Presbyterian church in 2000.
The church sold in 2004 for $8.3 million to a syndicate headed by Tony Braham. The syndicate offloaded the project in 2010.
It sits within the Sydney City Council municipality.
<img src="/images/stories/stjohns4-cropped.png">
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Religious colonial Paddington readies for retail and residency 

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Sydney’s landmark Exchange Centre, the home of the Australian Securities Exchange, has been listed with $200 million hopes by receivers.
It’s being offloaded by Record Realty, the listed property arm of Allco Finance Group, which paid $238 million to German fund Deka Immobilien in 2006. 
Record bought the 13-storey building on the corner of Bridge and Pitt streets after a bidding war that reputedly included GPT, Mirvac, Commonwealth Property Office Fund and Stockland.
Deka had paid $177 million for the site in 1999.
The ASX has a 12-year lease signed in 2000, with a further five-year option. The deal incorporates an annual fixed rental increase of 4.5%.
At the time of its purchase, with just $68 million of equity, Record's chief executive, Stewart Tillyard, said the Bridge Street property was a "trophy" asset for the growing business.
"The deal specifically fits with our investment mandate, which is to focus on properties with long-term quality tenants," Mr Tillyard said.
It was 2009 when administrators were appointed to the management arm of its office property business, after Record Realty's main bankers, the then struggling Bank of Scotland International, called in its debts. The bank has a reported $190 million exposure.
The building was thought to be sold in 2009 at somewhere between $140 million and $170 million, but the deal did not eventuate. Its reputed buyer was the Hong Kong-based CLSA Asia Pacific Markets, the brokerage and investment arm of French bank Credit Agricole.
There has since been a renovation and several vacant floors tenanted that have improved its occupancy to 93%.
Receivers KordaMentha have appointed CBRE executive managing director Scott Gray-Spencer and CBRE regional director of institutional investments, Rob Sewell, to undertake the marketing campaign.
Mr Gray-Spencer said the quality of the building and the premium tenancy profile would attract significant buyer interest.
“The Exchange Centre is one of Sydney’s most securely leased prime office investments, with the recently refurbished entrance foyer and public viewing gallery attracting a number of quality tenants to the building,” Mr Gray-Spencer said.
“Tenant enquiry has resulted in approximately 3,400 square metres of new tenant commitment and a further 1,000 square metres of lease renewals  in the past six months which has increased the average lease expiry to six years.”
Mr Gray-Spencer suggested as the 20 Bridge Street building was the only real prime asset of its size to be offered this year, pent-up market demand was expected to fuel interest.
“Currently there is more capital looking to invest in the office sector than prior to the GFC.
“In particular, Australian domestic superannuation and wholesale funds are becoming increasingly active and presently have $10 billion in firepower.”
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$200 million hopes for Allco collapse Sydney office listing

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Popular Sydney eastern suburbs watering hole, the Golden Sheaf Hotel in Double Bay, has been listed with $80-million-plus hopes by Bruce Solomon's Solotel Group.
The heritage-listed 1936 pub was bought for $5,327,000 in 1991. Its New South Head Road premises was expanded after $4.8 million was spent in 2006 with purchase of the adjacent George's restaurant from Leo Varvaritis. The refurbished hotel and rear beer garden was launched in 2009.
Solotel has earmarked the sale proceeds to fund its new Bar Sydney in Westfield Sydney, and a possible complex in New York.
The Golden Sheaf forms part of Solotel's portfolio of 16 hotels and four restaurants.
The group includes the two Aria restaurants in Sydney and Brisbane, run by celebrity chef Matt Moran, who will also run the new Bar Sydney.
Jones Lang LaSalle's national director of pub investment sales John Musca has listed the Golden Sheaf. The SMH reported it is considered among the country's most profitable pubs.
The Golden Sheaf’s neighbour is the Kiora Lands proposed development – a joint venture between Woollahra Council and Woolworths, who have often been mooted buyers. The current Kiora project will occupy the current Woolworths site and council car park and eventually house a four-storey complex.
It was 1987 when the Sheaf was contemplated as being part of a bigger development during its ownership by John Lyons’ Realty Property Group and its major shareholder, Sir Ron Brierley’s Industrial Equities Ltd. There had been brief contemplation of a 12-storey international hotel.
The hotel had been bought by the Lyons syndicate for a reported $10 million from the well-known Ryan hotelier family in 1986. The Ryans, who had been there since 1974, sold because they thought the land content had become too valuable for it to be just a pub.
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Double Bay's Sheaf comes with golden expectations

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
While the Sydney serviced apartment market continues to perform strongly, the state’s two biggest regional markets – the Mid-North Coast and Northern Rivers regions – have seen occupancy rates drop sharply in line with declining tourist accommodation demands.
According to latest ABS tourist accommodation statistics, occupancy rates for the Mid-North Coast’s 1,500-room serviced apartment market dropped from a healthy 72% in January 2011 to 62% in March 2011.
The market, which comprises the regional towns of Port Macquarie, Taree, Coffs Harbour, Forster and Kempsey, has fallen in line with a drop in hotel occupancy ratios for the region which are down 10% for the same period to 54%.
Guests are staying for shorter periods – three days instead of four – while average takings per night are down from to $135 from $188 at the start of the year.
It’s a similar story for the Northern Rivers towns of Grafton, Lismore, Tweed Heads and Byron Bay which make up the bulk of the region’s 1,800 rooms.
Occupancy ratios fell from 65% to 53% over the March quarter. At the same time the combined tourist accommodation sector dropped from a 58% occupancy ratio to just over to 53%.
Guest stays are down to two and a half days on average compared with four nights at the start of the year.
According to research by CBRE Hotels, the growth of the serviced apartment market in tourist areas was driven by leisure traveller demands.
In contrast, Sydney, which makes up half of the 12,000-bed strong NSW market, had an occupancy ratio in March 2011 of 88% compared to 85% in January.
Its 6,000 rooms were occupied for 163,000 nights in March, generating average takings per night of $197; slightly down from $199 in January, but up on a year ago when average room takings were $182.
According to research by CBRE Hotels, serviced apartments in regional areas are heavily reliant on domestic travellers, with just 10% of their guests coming from overseas.
In comparison, a quarter of guests in CBD apartments are visiting from overseas.
Online searches revealed very few serviced apartments up for sale in NSW.
The Waldorf Apartment group is current selling a studio serviced apartment in the Parramatta Apartment Hotel at 110-114 James Ruse Drive for $179,000, with guaranteed rent of $260 per week.
Further up on the Central Coast, a two-bedroom apartment at the Entrance Waldorf Apartment Hotel is for sale for $279,000. The Waldorf is offering investors a two-year leaseback option returning 4.5% net per annum on the unit's purchase price.
ABS statistics reveal the Central Coast market declined strongly during the first quarter of 2011, with occupancy ratios falling from 72% in January to 41% in March. However, for the March quarter, the occupancy ratio stands at 54%; higher than 52% recorded in March 2011, suggesting that seasonal factors may play a major role.
Against the backdrop of Sydney’s strong showing, Ken Smith, regional director for CBRE Hotels, tips the serviced apartment market to become a much more dominant force in the Australian market in 2011.
Yields on serviced apartments are between 5% and 6%, compared to between 3% and 4% for residential investment properties, according to CBRE research.
 
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Sydney strong, but regional serviced apartments shedding guests

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The Campbell’s Corner retail premises, Muswellbrook’s original town shopping centre, has sold for $3.2 million. It last sold in 2005 for $3.8 million.
The historic property in the Upper Hunter mining district town has been bought by the local council, which views the site as the ideal location for a regional convention and entertainment centre.
Built in 1870, the site’s current enlarged retail property, with its dramatic tower, was added in 1910 by Walter Barrett, who became the mayor of Muswellbrook in 1915. Mr Barrett was a timber merchant, builder and chairman of Muswellbrook Coal Company for 35 years.
It was in 1862 that Scottish retailing pioneer Malcolm Campbell purchased a Muswellbrook store from John Ferguson. But after the arrival of the railway in 1869, Campbell moved from Sydney Street to Bridge Street, which he judged would become the commercial centre of the town. In 1870 he built a two-storey store and as the business prospered, the building was extended in 1879 and 1891.
The building is on a prominent 6,106-square-metre site with frontage to Bridge and Brook streets, close to the end of the New England Highway.
Its fully-leased income potential is estimated at $640,000, with current tenants including a Franklins supermarket, specialty shops and first floor offices. It has 5,363 square metres of gross net lettable area.
The council says no existing tenant will be dislocated as a result of the acquisition and any redevelopment set to be undertaken.
The council plans a four-stage renovation and extension process, attaching a new auditorium when Franklins moves out. Franklins occupies 1692 square metres on a lease until 2017, with a 10-year option.
“There is no current timeframe for the development of a regional convention and entertainment centre,” a council spokesman said.
“Council is currently going through the process of preparing a concept masterplan in readiness for seeking sources of funding,” he says.
Muswellbrook is a coal mining town and the centre of an important pastoral and dairy area. It boasts three shopping centres: Campbell's Corner; the Muswellbrook Marketplace on Sowerby Street in the north; and the new Muswellbrook Fair along Rutherford Road in the south of the town.
Campbell’s Corner was listed in April last year through CB Richard Ellis agents Steven Lerche and Harry Bui.
In 2008, on its initial listing, more than $6 million was being sought.
On its 2005 purchase through Street Real Estate, investment company Romarx Pty, directed by the Saul family from Sydney’s eastern suburbs, also bought the Singleton Neighbourhood Shopping Centre for $2.7 million. The family company still retains ownership of the Singleton centre.
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Upper Hunter mining town retail gem suffers 15% price slide

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The Eastlakes apartment market, located six kilometres from the Sydney CBD and just a 15-minute drive from Sydney Domestic Airport, has been identified by RP Data as one Australia’s best-value suburbs.
Apartments make up more than two-thirds of the market (69%), with the average median price of $376,500 significantly more affordable than nearby Maroubra ($570,000), Kensington ($540,000) and Botany Bay ($500,000).
<img src="/images/stories/hotspot-eastlake-chart.png">
Sales prices for Eastlakes units have increased by 8% over the past year, according to RP Data, compared to more modest gains in Maroubra and a small drop in values in Kensington.
While Kensington and neighbouring Zetland have seen significant new apartment developments, such as Meriton’s Victoria Square project, there are no new apartment developments currently under way in Eastlakes.
Richard Movsessian from Century21 Coastline Properties is currently selling a 2-bedroom ground floor apartment at 17 Mascot Drive (below) at an advertised price of $397,000.
<img src="/images/stories/hotspot-eastlake1-cropped.png">
The property is advertised as being close to Eastlake's shopping centre, schools, cafes and transport to the CBD.
He tells Property Observer there was a lot of investor interest in Eastlakes just prior to the end of the financial year, but it had recently slowed down.
“First home buyers are back in the market. They are a bit more patient and are only buying a property if it is exactly what they want and [it] ticks every box,” he says.
“Properties priced fairly are selling well.
“Houses are selling slightly above the reserve price at auction while apartments are selling slightly under. There’s more competition for houses than for units,” he says.
Movsessian says the attractions of the suburb are its location – close to the University of NSW and the city – and its multicultural make-up.
According to RP Data, nearly 60% of Eastlake residents were born outside Australia.
Tass Evgeniou from Laing &amp; Simmons Kingsford is selling a two-bedroom unit at 6/6 Barber Avenue (below) aimed at first home buyers, renovators and investors, with a price tag of $370,000-plus.
<img src="/images/stories/hotspot-eastlake2-cropped.png">
He describes the Eastlakes market as very strong, and a good starting point for the eastern suburbs area.
“It’s a good location for investors and first home buyers because prices are more reasonable and still affordable.
“The price range and yields are also attractive,” he says.
Eastlakes is serviced by bus routes providing relatively easy access to the CBD while the Eastern Distributor motorway connects private vehicles to the city.
According to Evgeniou, apartments are selling close to the asking price – with “a little bit of negotiation”.
Eastlakes is already popular with investors, boasting an extremely strong rental market with two-thirds of units rented – more than the rate across Sydney (63%).
According to RP Data, many of the low-set brick complexes built more than 20 years ago which dominate the market present internal renovation potential, which can add value.
“They are also appealing due to the fact they have limited on-site amenity, which typically results in lower body corporate fees,” the RP Data/St George National Hotspots report says.
Phil Manning, senior property adviser at valuer WBP, says Eastlakes’ growth outlook is positive and on par with other suburbs in the region.
Mr Manning says a key attribute is its close proximity to parks and recreational facilities, making it popular with young families.
“A positive driver for Eastlake is the developing ‘food’ precinct in nearby Alexandria, which will provide attractive amenity for the local area,” he says.
“However, the finite number of unit housing in Eastlake could prove an inhibiting factor for the suburb in future as growing affordability issues direct people into smaller, more affordable dwellings. However, this is likely to be a positive for growth in existing unit stock.”
Besides the location and transport benefits, Mr Manning says Eastlakes also offers access to primary and secondary schools both in the suburb and surrounding areas.
According to the RP Data/St.George report, the most desirable areas are likely to be near public transport and shopping amenities.
“Complexes located adjacent to the large parklands are also likely to experience stronger demand,” the report says.
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