<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

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The Block All Stars auction is tentatively scheduled for Tuesday, March 19, with neighbours being advised recently of the provisal auction timetable countdown.
Property Observer understands it will be a by-invitation-only registered bidders onsite event.
The public open for inspection is tentatively scheduled for Saturday, March 2, and Saturday, March 3, subject to Waverley Council approval.
The reality television show’s audience eased slightly to 858,000 on Thursday night, its third airing, with further cricket interruptions not allowing its return until Monday night’s room reveal.
It ranked, excluding news and current affairs, as the night’s fourth most popular show across the networks.
Some 295,000 viewers were from Melbourne, according to OzTAM, with 215,000 in Sydney and 189,000 in Brisbane.
My Kitchen Rules reigned with a diminished 1.8 million viewers.
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jchancellor-FAypfDUnLy

The Block Allstars Bondi cottage auctions likely for March 19 offering

Grave digger Sean Dillon bought his Frankston home 12 years ago after it sat on the market for 12 months.&nbsp; But nothing much has&nbsp;changed, and the wrong neighbours still&nbsp;make it hard to find a buyer.&nbsp;It&#39;s the Frankston Cemetery that&#39;s just across the road that has&nbsp;been&nbsp;the tough selling point for&nbsp;the <a href="https://www.estatecentral.com.au/property-6-clarendon-street-frankston-vic-australia/j-1536855435" target="_blank">Clarendon Street location</a>.&nbsp;

Dillion&nbsp;started working in cemeteries when he was 16 at the Springvale Cemetery as a gravedigger and doing the gardening. Dillon, who in the&nbsp;old days used to be called a sexton, is now kept busy looking after four cemeteries: Tyabb, Dromana, Flinders and Mornington, through Transfield Services.

Over the years Dillon says he has had the honour of burying famous people. &lsquo;&lsquo;I buried [footballer] Trevor Barker and [sports commentator] Ron Casey.&rsquo;&rsquo;

With mortgage repayments &ldquo;killing me&rdquo;, Dillon sought&nbsp;the help of <a href="https://www.lifestyle.com.au/tv/selling-houses-australia/gallery.aspx?id=285" target="_blank">Selling Houses Australia</a>&nbsp;for his attempt to secure a sale. He wanted $385,000 but ended up taking $353,000.&nbsp;

He had paid $117,000 in 2000 for the 700-square-metre property. Before that it sold for $59,000 in 1986 and at $27,000 in 1979.&nbsp;

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&quot;Being opposite a cemetery is a big factor, but I think they are the best neighbours you can have,&rdquo; Dillon suggested during its marketing campaign.&nbsp;&quot;You don&rsquo;t have an argument with them, they don&rsquo;t come over and tell you to turn down the stereo and you don&rsquo;t get barking dogs.&rdquo;

It was listed through Trent Martin at&nbsp;Bayside Residential.&nbsp;Set in&nbsp;Frankston&rsquo;s Golden Triangle, the&nbsp;quaint cottage&nbsp;was&nbsp;renovated by Andrew Winter&#39;s team.&nbsp; They went with&nbsp;new carpet and plenty of natural light. Its gardens had been freshened up with tropical plants, and separate kids&#39; play area, cubby house included.&nbsp;&nbsp;

Structurally the house had been in a terrible state without a shower or a working kitchen before its $30,000 renovation. Marketed with&nbsp;emphasis on its proximity to Frankston CBD, transport, hospitals, universities, TAFE, and the new EastLink and Peninsula Link,&nbsp;investors were advised&nbsp;the&nbsp;property has potential to be sub-divided (STCA) and with the area&#39;s rental low vacancy rates&nbsp;had&nbsp;an estimated rental return of $1,400 and $1,550 per&nbsp;month. It was subsequently available for rent through&nbsp;Emily Dowel at $1,520 a month. &nbsp;

Andrew Winter exorcises property adjacent to Frankston Cemetery, with neighbours quiet as the grave

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By coincidence two Sydney properties associated with the legendary cricketer Victor Trumper are listed for sale.
Neither look much like they would have in his cricketing heyday, as they instead reflect the current cosmopolitan status of Sydney property.
Cricketing writer Phil Derriman once wrote that Trumper (1877-1915) belonged to that misty, idealised, long-ago period thatcricket historians call the "golden age".
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/173793" target="_blank">The terrace at 112 Paddington Street, Paddington </a>(pictured below), is where Trumper lived with his family from 1900-09. Legend, and common sense, suggests Trumper would walk home after his nearby SCG tests.
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He would probably have lived there longer if his sister Alice had not died of tuberculosis in the house in 1908 – a tragedy that, according to Trumper's biographer Peter Sharpham, induced the family to move.
The 1880s terrace had been bought for £525 in 1900 by his father, Charles, and mother, Louise, and the family moved there from Liverpool Street. The family left in 1909 to Help Street, <a href="/news">Chatswood</a>. The terrace sold in 1912 to fruiterer Antonio Reitano for £615.
One past owner, lawyer Paul Bard, was conscious of the house's history when he bought it, although it was the house and its north-facing backyard that attracted him.
Bard said there were often people outside just having a look.
It last sold for $3.5 million in 2008. Its prior sales was <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/133095" target="_blank">$2.3 million in 2004</a>; $1.3 million in 1994; and $240,000 in 1985. 
Its been listed for March 2 auction through Ben Collier at McGrath Real Estate who says the three bedroom, three-bathroom house on 192 square metres been "enriched by its artistic flair, designer inclusions and historical elegance".
"This grand north facing Paddington terrace embodies a flexible family floorplan that spans across casual/formal living spaces to a delightful selection of outdoor entertaining areas," Ben Collier's marketing says.
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">At <a href="/news">Mona Vale</a>, there's another property with a Trumper link that goes to February 28 auction.
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It's a modern house now overlooking Bungan Beach (pictured above), but on initial construction it was apparently the third house built on Hillcrest Avenue. The simple facade of timber and sandstone beach house conceals the sweeping contemporary coastal vista. <a href="https://digitaledition.manlydaily.com.au/?iid=35375&amp;startpage=page0000005#folio=005" target="_blank">On its 2010 listing with the McGrath agency The Manly Daily outlined its supposed linkage to the great Victor Trumper</a>.
"It was a holiday home of the Trumper family," <a href="https://monavale.ljhooker.com.au/ZS7F6K" target="_blank">the latest listing agent, LJ Hooker Mona Vale's Jo Cowling</a> cautiously told Title Tattle this week, adding it was held by the family until the early 1980s. Documentation obtained by Title Tattle indicate it sold to the current vendors for $82,000 in 1980.
"Someone, who knows someone, who knows someone, thinks that both Victors enjoyed playing cricket and hitting sixes from the backyard all the way to Bungan Beach depending on prevailing winds.
"I personally find this hard to believe," she wisely added.
Of course while it was certainly a Trumper holiday home, its more likely the sixes were  from a holidaying Victor Trumper Jnr, (1913-1981) who was also a cricketer playing seven first-class games. The Australian Dictionary of Biography notes in the 1917 administration of Victor Trumper's intestate estate it was valued at £5. 
Officially the first time Title Tattle can see the Trumper name appear on the Mona Vale registered title is actually in 1965 through a Olga Trumper, with the property having been previously in the Cochrane family since 1925. Its then was inherited by Charles Trumper in 1980.
Anyway, the myths and associations endure, long after stumps.
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The legend of cricketing great Victor Trumper bats on through Sydney real estate: Title Tattle

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In our Purchase or Pass segment this week Chris Gray is joined by Tom Panos, head of real estate advertising at News Ltd, to check out a potential investment property in North Bondi. It’s a two-bedroom, one-bathroom, unit with lock up garage, 8.6 kilometres from the CBD and 600 metres to the local action. It’s in a blond brick block of just nine units and has a leafy outlook across the district. The unit is in reasonable condition but certainly not shiny and new. There are windows on three sides and there are balconies off both bedrooms and the lounge.
The property rents for $700 per week and sold for $732,000.
With clearance rates around 50% many people would have good reason to assume the property market is in a pretty tough place. But inside that property market are many micro markets, and they are all doing something different. In our Purchase or Pass segment this week we take a look at a property that sold for over $50,000 above the vendors' expectations and after just one open for inspection.
<img alt="wallispde" height="353" width="470" src="/images/stories/2013/02/wallispde.jpg">
Chris: What are your general thoughts on this property as an investment?
Tom: I like it. We see good properties that sell well, this is a good classic example. Some say that the buyer may pay a premium for a property like that, but I think that good properties always get good prices. 
Chris: We have talked about the vendors' expectations, wanting $675,000 and it sold for $732,000. When you get vendors expectations, are they usually high or low? 
Tom: Every vendor across Australia, across the planet, thinks they have the best house in the street. 
Chris: So what is it about a property that makes it stand out and sell in a week? 
Tom: Location is a big thing, no question about it. If someone has the right spot, it will attract a lot of people. If it is a well-renovated property or is it a dump and they can see it being totally renovated. It is the ones that are in between which are often take or leave. It is either beautiful renovations suited to the general population or dumps and deceased estates which fly through the open for inspections. 
Chris: Reading into the detail of the ads, saying there are windows on three sides, it's going to be pretty sunny. 
Tom: Absolutely, sun is a big thing. It is a questioned asked to agents all the time. They usually turn all the lights on before the inspection anyway! 
Chris: Also, it’s a small block, people want to live in massive townhouses, people want to live near the beaches and the city. It's location, isn’t it? 
Tom: Location and small community where you get to know the people is a big thing, less changing people all the time. 
Chris: So if it was you, purchase or pass? 
Tom: I would buy it, but I would buy most things. 
Chris: We always say that good properties always sell well and this is a classic example. Some may say the buyer paid a premium for this property given the vendors; expectations, but if there were plenty of buyers that were offering similar amounts of money then that’s the market price. I would much rather pay a few dollars more for a property that has the potential to sell in a matter of days than get a property for a bargain that no one really wants and might take a year to sell. So for that reason I’m going to purchase.
Chris Gray is a buyers' agent at <a href="https://www.yourempire.com.au/">Empire</a>. He is host of Your Property Empire on Fridays on the Sky News Business Channel.
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Purchase or pass: North Bondi two-bedroom unit

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The Prime Minister Julia Gillard has sold her Canberra investment property for $615,000. It cost $540,000 in late 2005, representing just 1.7% annual price growth.
The Prime Minister declared the sale of the apartment in the tightly held 2005 Kingston complex of 24 apartments in her latest update to the register of member's interests on February 5 this month.
It had been rented by Gillard in January 2011.
The two-bedroom Wentworth Avenue apartment with two bathrooms, two balconies, and two basement car spaces had previously been occupied by her before moving to The Lodge when she became Prime Minister in 2010.
It was quietly listed in August, and sold about 57 days later in October last year with settlement last month through Elders Dickson Real Estate.
<a href="https://www.eldersrealestate.com.au/residential/buy/property-unit-act-kingston-507253">The marketing brochure </a>described the 129-square-metre apartment as having “exceptionally generous” space.
"The floors are a combination of timber and pure wool carpet,and together with subtle neutral colours give the whole apartment a feel of luxury," the selling agent Birgitte Moltke said. Moltke was also the agent who had the listing in 2007 with a $530,000 asking price, but official property data indicates its last sale was in 2005 at $540,000.
In 2011 there were three sales between $595,000 and $615,000. The block's highest recent sale was in mid-2011 when $640,000 was achieved for a three bedroom apartment that had previously sold in 2005 for $549,000, reflecting 2.4% annual growth.
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<div class="promo-block promo-image-01 ">“While the sale occurred at the end of October 2012, financial matters related to the transaction were not finalised until the last week of January 2013,” the spokesperson told The Australian.</div>
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<div class="promo-block promo-image-01 ">Canberra's recent real estate price growth status is being questioned especially given the<a href="https://www.propertyobserver.com.au/australian-capital-territory/canberra-property-market-likely-to-tread-water-in-election-year-but-not-without-uncertainty/2013020159081" target="_blank"> prospect of a change of government affecting public service levels</a>. APM recorded a Canberra unit prices rose 3.8% over the December quarter to finish the year almost where they began at a $415,000 medium.</div>
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Landlord Julia Gillard sells Canberra investment apartment

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Prime Minister Julia Gillard has spoken directly with Dubai’s ruler Sheik Mohammed.
Confirmation of the call came in a statement from the sheik’s website.
“UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has held telephone talks with the Australian Prime Minister Julia Gillard this afternoon,” it said.
“During their telephonic conversation, Sheikh Mohammed and the Australian Prime Minister discussed bolstering bilateral relations between the United Arab Emirates and Australia for the best interests of both peoples.”
The call came as the two Australian businessmen detained in the emirate prepare for a court hearing this week over corruption charges. Developers Matthew Joyce and Marcus Lee have been under effective house arrest for the past four years.
It has now been confirmed the leader discussed the two Australian businessmen.
Mr Joyce and Mr Lee were arrested on bribery charges in January 2009 based on allegations that have unravelled over the past few years.
AAP report the Foreign Minister Bob Carr says Ms Gillard pressed their case very strongly. But he indicated the Dubai leader's response was non-committal.
"He said that the courts are independent of the government but undertook to look at the matters the prime minister raised, including delays in the case," he told reporters in Canberra on Thursday.
Supporters of the property developers Matthew Joyce and Marcus Lee, have been recently pleading for the Australian Prime Minister to intervene, as they endure their fourth year under effective house arrest in Dubai.
The Australian Financial Review revealed last week that former prime minister Malcolm Fraser and federal independent MPs Rob Oakeshott and Tony Windsor <a target="_blank" href="https://afr.com/p/national/independents_pressure_pm_on_dubai_rOxl2TXZxoO9FMCGpNj4YI">had urged the prime minister to act.</a>
Mr Fraser told The AFR that Australia should not allow its citizens to be held as “scapegoats” after the bubble burst in the UAE following the credit crisis in 2008.
“I’m firmly of the view that direct intervention with the Sheik is absolutely critical,” Mr Fraser said.
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Dubai's Sheikh Mohammed and Prime Minister Gillard discuss bolstering bilateral relations and post-GFC property developer imbroglio

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Westpac has announced a two-year fixed rate of 4.99%. The home loan rate is a 40 basis point reduction, and is effective from today.
It's the bank's lowest two-year fixed rate offering since September 2009 and it is currently the only major bank to offer a fixed-rate home loan below 5%, though coming at a time when demand for fixed-rate products is falling.
Westpac will hope customers will consider the lower fixed-rate offering as an alternative to a variable rate mortgage (where mortgage exit fees are banned and customers can refinance relatively easily), locking them in for two-years.
NAB’s lowest fixed-rate home loan rate is 5.34% for its one-year home loan, the Commonwealth Bank offers a one-year fixed rate of 5.19% while ANZ offers a two-year fixed rate at 5.49%.
<a target="_blank" href="/news">A number of smaller lenders </a>offer fixed rate of 4.99% including ME Bank, Resi and Newcastle Permanent.
Non-bank lender Easy Street, owned and operated by Sydney-based Community First Credit Union, is offering a variable rate honeymoon home loan special rate at 4.99%
The Westpac fixed-rate cut follows its <a href="/news">subsidiary bank St. George</a> announced cuts to its fixed rate offerings today.
Another lender, CUA today cuts three-year fixed home loan to 5.30%, which it says is one of the lowest in the current market.
Over January, mortgage broker Mortgage Choice reported that demand for variable rate loans reached a six-month high accounting for 83.65% of the company’s new home loan approvals.
Consequently, demand for fixed rate loans slipped, for the second consecutive month, to 16.35% of newly approved loans.
Mortgage broker AFG also reported a drop in demand for fixed-rate home loans over January.
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Westpac lead the big banks below 5% on fixed home loans

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The valuation of all Pittwater property dropped 4.7% over the past three years, according to the NSW Valuer-General.
Landowners in the Pittwater local government area (LGA) were recently issued with the fresh individual valuations used for ratings purposes and land tax charges.
As at July 1, 2012 Pittwater’s 2012 valuation program consisted of 20,257 properties, up from 20,150 in July 1, 2009.
The Valuer General concluded property values in the Pittwater municipality have generally decreased in the three-year period since the last valuation program was conducted.
“The total land value of the Pittwater LGA as at 1 July 2012 was approximately $17.97 billion. This is an overall decrease from the total land value of $18.81 billion determined as at 1 July 2009,” says Valuer-General Phillip Western.
But residential land values had generally remained steady in the period, with the moderate falls occuring in waterfront, prestige and holiday market land in areas such as Palm Beach, Whale Beach and the western foreshore of Pittwater, according to the NSW Valuer General.
But one example given by the Valuer General of residential values in Alexander Road, Avalon have slightly decreased by 5.5% as typical prices in 2010 were $697,000 for 682 square metres.  In the latest valuations, Alexander Road had typical values of $660,000 for the same size property.
 
Commercial land values have remained steady with the exception of land in Avalon and Palm Beach which showed a slight increase in value.   Typical values in Barrenjoey Road Newport were $1.3 million for 556 square metres in 2010 and $1.38 million on 556 square metres in 2012.  This is an increase of 6% over three years. 
 
Parts of Narrambeen stood out, showing moderate increases in commercial land values.
 
Industrial and rural residential land also remained steady with notable increases in value in Mona Vale and non-urban values in Ingleside.
 
Jubilee Ave in Warriewood saw an increase in general industrial values as the sale of a property in 2010 represented $552 per square metre and in 2012, $588 per square metre.
 
A typical rural land value in 2010 was $841,000 for 2,605 square metres in Laurel Road West, Ingleside – compared with $930,000 in 2012, an increase of 10.5%.
 
“Typical residential land values as at 1 July 2012 were: 
• 683 square metres at Alexander Road, Avalon valued at $660,000 
• 696 square metres at Allington Crescent, Elanora Heights valued at $565,000 
• 828 square metres at Bilkurra Avenue, Bilgola valued at $560,000 
• 696 square metres at Alameda Way, Warriewood valued at $529,000 
• 696 square metres at Jeanette Avenue, Mona Vale valued at $645,000  
• 702 square metres at Lanyon Place, Newport valued at $680,000 
• 930 square metres at Pacific Road, Palm Beach valued at $1,450,000 
• 784 square metres at Dress Circle Road, Avalon valued at $649,000. 
 
“Typical commercial land values as at 1 July 2012 were: 
• 734 square metres at Barrenjoey Road, Palm Beach valued at $1,070,000 
• 556 square metres at Barrenjoey Road, Newport valued at $1,380,000 
• 240 square metres at Old Barrenjoey Road, Avalon valued at $1,070,000 
• 462 square metres at Waratah Street, Mona Vale valued at $1,590,000 
• 879 square metres at Bowling Green Lane, Avalon valued at $1,380,000 
• 204 square metres at Pittwater Road, Narrabeen valued at $525,000. 
 
“Typical industrial land values as at 1 July 2012 were: 
• 860 square metres at Darley Street, Mona Vale valued at $970,000 
• 697 square metres at Garden Street, North Narrabeen valued at $550,000 
• 1,921 square metres at Jubilee Avenue, Warriewood valued at $1,130,000. 
 
“Typical rural residential land values as at 1 July 2012 were: 
• 2 hectares at Dendrobium Crescent, Elanora Heights valued at $1,950,000 
• 2,605 square metres at Laurel Road, Ingleside valued at $930,000 
• 5,229 square metres at Minkara Road, Bayview valued at $1,080,000. 
 
Mr Western said landowners wishing to know more about their land value or the land 
valuation system could call toll free on 1800 110 038 or visit the Land and Property 
Information website at <a href="https://www.lpi.nsw.gov.au/valuation">www.lpi.nsw.gov.au/valuation</a>. 
 
 
 
 
 
 
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equinn-i7Kmo9afeu

Pittwater valuations dip 4.7%

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Property developer Australand has reported a 5% rise in full-year operating profits to $142.1 million, with strong sales in its residential communities in NSW and a more resilient performance in some of its Melbourne apartment projects due to growth in demand for medium-density housing.

Australand reported 97 sales <a href="https://www.propertyobserver.com.au/developments/australand-s-carlton-development-local-more-than-half-sold-as-first-home-buyer-deadline-draws-nearer/2012062455235" target="_blank">at its Local project</a> in <a href="/news">Carlton </a>in Melbourne (pictured below), with an average price of $500,000, making it the top-selling medium-density project for the year, now 72% sold out. The project is in partnership with <a href="https://www.citta.com.au/pages/projects/living_carlton.php" target="_blank">Citta Property Proup</a>.
{yoogallery src=[images/stories/december13local]}
This was followed by its 333 Burwood apartment project near Camberwell junction, which recorded 93 sales with an average price of $720,000.

Sales of residential land on the outskirts of Melbourne remain “fairly subdued” due to softer trading conditions at the lower end of the market.

<img alt="australandfeb7" src="/images/stories/2013/02/australandfeb7.gif" width="470" height="301"> Overall, the developer is “cautiously optimistic” about 2013 with the resurgence in Sydney “very pleasing”

The top selling land project was Greenhills Beach in Cronulla in Sydney’s Sutherland Shire with 136 sales and an average price of $830,000 per lot.

Australand also reported strong sales at Cockburn Central in Perth (94 sales with average price of $440,000) as well as Kangaroo Point in Brisbane.

There were also strong levels of pre-sales at the NSW projects of Watervue at Wolli Creek (73% pre-sold), Air at Clemton Park (97% pre-sold) along with Melbourne apartment projects Hyde (98%).

At today’s full-year results presentation, anaging director Bob Johnston said it was “interesting times” for Australand given the recent GPT offer for the business and majority shareholder CapitaLand currently conducting a strategic review of its investment.

He said 2012 was a challenging year, but that there had been a “marked” pick-up in the fourth quarter of the year, particurlarly in residential sector.

Johnston noted the 16% rise in residential earnings from $587 million to $606 million driven by a stronger Sydney offsetting a weaker Melbourne market with an increase in margins and higher average sales prices.

This was a strong performance than its commercial property investment portfolio, where earnings rose 8% over the year, but with high occupancies and driven by government or ASX-listed tenants.

He said this portfolio remained in “good shape”.

There were also strong sales across its Greenhills Beach residential community project in <a href="/news">Cronulla</a>, with 136 sales at an average price of $840,000, and Greenvale residential community, 20 kilometres north of Melbourne.

Australand holds 1,169 contracts on hand for the full financial year with 64% expected to settle in 2013.

“While the consumer remains cautious, our residential division delivered strong growth in earnings and is well positioned with contracts on hand up 24% on last year,” says Australand managing director Bob Johnston.

Australand Executive general manager for residential, Rod Fehring reported that there had been 1,788 gross lot sales over 2012, which though down on 2011, had brought with it forward momentum.

Of these 1,788 sales, 1,202 were in the resurging Sydney market with the top 10 projects contributed 84% of residential earnings in 2012.

Fehring says demand is being supported by ongoing interest from offshore investors as well as “excellent presales”.

“Sales activity lifted by 41% in NSW and 33% in WA.

Fehring says Perth benefits from favourable population growth and a very tight rental market resulting in increased overall sales activity.

“Sentiment from mining sector will drive the market, but it is a balanced market. We don’t expect rises in prices, just an improvement in activity.”

Looking at the south-eat Queensland market, Fehring said that at the start of the year things seemed to be improving, with Brisbane holding a median price advantage over the other capital cities.

“But sentiment is weak, and the recent floods may impact further,” he said.

Considering the overall market, Fehring said Australand is “cautiously optimistic about 2013” with lower interest rates, new project commencements that will make substantial contributions and fundamentals in key markets looking “reasonably sound”.

Shareholders will receive distributions of 21.5¢ per share with a similar forecast for 2013 financial year.</body></html>

Australand profits up 5% in 'interesting times', with strong demand for Melbourne apartments 

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Collingwood’s Scott Pendlebury is having his third shot at selling his <a target="_blank" href="/news">Newport </a>cottage.
His redundant two-bedroom Douglas Parade property comes with further revised price expectations.
It was initially listed in late 2011 with $780,000 to $840,000 expectations, which were adjusted to $750,000 to $810,000 last year.
<a target="_blank" href="https://www.greghocking.com.au/buy/search">It's now with $680,000 to $740,000 hopes through Leanne Howlett at Greg Hocking Elly Partners</a>.
Pendlebury paid $567,000 in late 2007 for the house on 290 square metres.
"For those seeking low-maintenance living in popular Newport and Williamstown fringe location, this stylish two-bedroom home is sure to impress," says the marketing.
Its entrance hall comes with timber boards through to its tiled renovated open plan kitchen and living zone with designer breakfast bar.
"Close to schools, transport, Williamstown shopping, Newport Park, and The Strand bayside walk and bike path, this home is a perfect first home or savvy investment," Howlett says. 
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