<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 hillside Vaucluse residence of John Porter, the Austar chief before its merger with Foxtel last year, and his wife, Susan Mougey, has been listed for sale with $11 million plus hopes.
The Vogue Living-featured house was designed by the Harvard-trained US architect Tom Rivard three year ago. Rivard describes it as an extensive renovation and reconstruction of an expanded family home for a family of six plus their cat.
"As befits the site and occupants, the project is a village, and a hilltop one at that," he suggested, noting the site, along with the previous house, was “phenomenologically excavated.”
The interior design was undertaken by Briony Fitzgerald, sister of Channel 9 boss David Gyngell, and whose late father Bruce Gyngell pioneered Australian television, while her mother, Ann Gyngell, was a leading Sydney interior decorator.
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-112991307" target="_blank">The five-bedroom, four-level residence</a> is set in gardens with a pool and Hollywood-style cabana designed by William Dangar.
Another Hillside Avenue residence sold to the Yang family from Hong Kong for $21.5 million in 2011, the year's highest house price.
The couple paid $1.89 million in 1999 for the 658-square-metre <a href="/news">Vaucluse </a>block.
It's been listed through Alan Waitsman at LJ Hooker Double Bay.
Rivard's design team included Team Georg Ackerman, Poune Parsanejad and Alina McConnochie.
"Along with expressing a vast range of living patterns that change from day to day (and hour to hour), the family is both highly cohesive as well as being composed of six unique individuals.
"The cat adopts traits of each, save for the father’s ability to whip up dinner for six at short notice," <a href="https://www.rivard.com.au/" target="_blank">Rivard wrote</a>.
''The 279 Post-It notes (in six colours) tagged in the 20th Century Art Book left no doubt as to either the individuality or the expressiveness of the clients – save for the cat, who neither speaks nor cares much for art," he added.
John Porter is now chairman of advertising and marketing company Photon Group which changed its name to Enero Group last year. Prior to joining Austar, John Porter spent ten years in various senior management capacities for Time Warner Cable, a subsidiary of Time Warner, Inc.  He has more than 30 years of management experience in the US and Australian subscription television industries.
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jchancellor-FAypfDUnLy

John Porter lists Vaucluse mansion inspired by 279 Post-It notes

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The familiar contestant couples returning tonight to the all-star realty renovation television series The Block pretty much knew what they had signed up for.
After all twists and turns have been the staple of all five prior series since its stellar 2003 launch.
But one Fairfax Media reporter invited to the set midway through filming the latest renovation series noted the contestant couples were in various states of meltdowns.
"Several were close to breaking point," the Fairfax Media report said.
It was because one  couple appeared to have quietly installed "an extension" while rebuilding their 1910s cottage on Tasman Street in hillside <a target="_blank" href="/news">Bondi</a>.
"One couple, who we won't name here, appeared to have developed a slight advantage by quietly building an internal extension," it's been reported by The Age television reporters Paul Kalina and Andrew Murfett, the soon to depart Green Guide editor.
"Its reveal will certainly be a bombshell moment," the article suggested.
Property Observer - who has not been inside - understands it's a possible third bedroom. All the three other contestant couples stuck with the two-bedroom plan.
(Spoiler alert – couple named at bottom of story).
"It's very teary, very cranky, very competitive," acknowledges the series host Scott Cam in his pre-launch publicity spiel.
The contestants  Phil and Amity (season one), Mark and Duncan (season three), Josh and Jenna (season four) and Dan and Dani (season five) get a second chance to take out the big prize as the series returns to its Bondi roots while restoring four heritage cottages.
"I started out as a young bloke cutting my teeth on heritage houses and I swore I would never, ever do it again," host Scott Cam says.
"[Each house] needs to feel like a brand new house, just like in 1910."
Phil and Amity
Phil and Amity appeared in the initial 2003 series at Bondi Beach – taking home a $60,000 profit, despite coming fourth.
Mark and Duncan
Mark and Duncan in 2010, who came to be known as the Two Fat Tradies, struggled with styling in 2010. Like Phil and Amity, they also finished fourth, splitting $47,000 between them after the Vaucluse renovation.
Josh and Jenna
Josh and Jenna, when they appeared in the Richmond cottage series in 2011, were the youngest couple to ever appear in the series. They still hold the record for the most Room Reveal wins in The Block's 10-year history.
Dan and Dani
Dan and Dani are fresh from their appearance in the 2012 South Melbourne terrace house renovation series.
SPOILER ALERT
Host Scott Cam sent interesting signals in his pre-launch pressers when he reckoned Phil and Amity might be "out of their depth", young Melburnians Dan, Dani, Josh and Jenna are "as competitive as ever," and tradies Mark and Duncan are "a bit out-there."
Property Observer actually understands it's Phil and Amity with the third bedroom option, which might overcome any decor failings in attracting greater buyer interest than the traditional two bedders of their three rivals.
Additionally, Phil and Amity appear to have the best cottage in the row of four, i.e., the one with the most northern sunshine.
<img alt="blockfeb41" src="/images/stories/2013/02/blockfeb41.png" height="351" width="470">
When Property Observer joined the ever-growing crowds out front taking a look at the four offerings, the Adelaide-based couple were in residence with their children.
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Extra bedroom advantage set to rock The Block All Stars to its Bondi foundations

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The Century 21 estate agency franchise has returned to the Super Bowl commercial arena.
Their television ad suggests estate agents are more helpful than doctors, at least when you're having a housing emergency. Like a groom not overly excited about moving in with his in-laws.
<a target="_blank" href="https://www.century21.com/superbowl">The 2013 Super Bowl commercial </a>has some fun with the old “monster-in-law” stereotype set at a wedding in a church, with the couple getting ready to say I do.
<div>
{qtube vid:=2vxYW0lL9rM}
The bride’s mother tells the groom, “we’re going to be one big happy family” – i.e., that soon they will all soon be living under the one roof.
It causes the groom to faint.
“Is there a Century 21 agent in the house?” the bride asks desperately.
Luckily there is, and with the aid of his smartphone he can find the couple their starter home.
The pitch is Smarter. Bolder. Faster for the franchisor of one of the world's largest real estate sales organisations.
The ad, created by Red Tettemer + Partners in Philadelphia, is scheduled to air in the first commercial pod of the second half.
There are three other similarly themed spots, with plots based around having a baby, sending a child to college, and winning the lottery.
"Our agents are at the heart of our business, and their customers rely on them during critical times in their lives," said Bev Thorne, the chief marketing officer of Century 21.
"These commercials celebrate our agents' dedication to customer service in a fun, creative way and will keep the Century 21 agent top-of-mind with consumers in advance of the spring home buying and selling season."
Adweek.com indicates that Century 21 made its Super Bowl debut last year, when it introduced the "Smarter. Bolder. Faster" positioning.
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Century 21 Super Bowl ad a marriage of property and cheekiness

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<img src="/images/stories/2013/02/knightfranklogo.jpg" width="470" height="69" alt="knightfranklogo">
Richard Horne is Knight Frank's managing director for NSW, specialising in office transactions above $30 million. He  says Australian super funds are becoming more relevant as direct players in Sydney commercial real estate, while enquiries from Chinese buyers are also rising.
<img src="/images/stories/2013/02/RichardHorne1.png" width="205" height="225" alt="RichardHorne1" style="margin: 5px; float: left;">
How long have you been in the industry?
I started my career in 1991 in Bristol, UK.  There I started as a valuer and then moved into agency after 18 months with the Bristol office of Chesterton.  I moved to Australia in 1995.
What’s happening in the area you specialise in?
I specialise in office investment, primarily the Sydney CBD of $30 million plus.  Times have been challenging at the larger end of the office market.  There have been few large deals with buyers struggling to get debt, generally conservative on sentiment and in particular building potential capital expenditure (capex) has been an impediment to many deals.
Signs are promising moving forward however, with the institutions starting to buy again and interest rates coming down.
Locally the Australian super funds are becoming more relevant as direct players.  Offshore, we’re starting to notice China more, with significant enquiries from China on our last two campaigns. 
Describe the most interesting property you have sold
I worked in New Zealand for five and half years, and in my first year put together a portfolio of buildings in Wellington tailored towards Australian investors.  This was interesting because I was dealing with a completely different market, a local private owner and a portfolio of very different properties. 
What are the ingredients to being successful in your job?
Being a successful agent might seem easy to many, but I believe it’s one of the hardest nuts to crack in the property sector.  The key ingredients to being successful are:
<ul>
<li>A focused approach,</li>
<li>The ability to develop excellent client relationships;</li>
<li>Not over-complicating things and being able to think clearly;</li>
<li>Thick skin and a degree of self-belief/confidence; and</li>
<li>Probably most importantly, you can’t afford to take yourself or any deal too seriously.</li>
</ul>
What aspects of your role do you enjoy the most?
I really enjoy thinking laterally about a deal and making it happen. Putting mutually compatible partners together is becoming increasingly relevant, and this is very enjoyable. On the management side of things I find it very rewarding to see younger staff, particularly with a good attitude, flourish in their careers. 
Where would invest a spare $750,000?
I’d put it towards my dream beach house, probably in New Zealand or Cornwall (UK). 
Which football team do you support?
Liverpool Football Club (UK) 
What’s your favourite app or techno gadget?
Viber, for long-distance phone calls back to family in the UK, and Run Keeper App, for tracking runs. 
How do you use social media?
I’m increasingly seeing the benefits of LinkedIn and exploring ways to improve this. I don’t mind admitting I’m not a fan of Facebook.
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lschlesinger-FZcF9M3vE6

In profile: Sydney CBD office investment specialist Richard Horne

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A historic double brick home in Victoria’s <a target="_blank" href="/news">Maldon </a>has been listed for sale with a $690,000 asking price.
Charlotte House was built circa 1860 by carpenter John Boots, shortly after the 1850s gold rush. He was something of an evangelical entreprenuer.
Following his death in 1875, Charlotte Boots occupied the property until 1885.
Comprising three bedrooms and one bathroom, Charlotte House has been restored but still boasts original features.
The home has original timber, brick paved and flagstone floors as well as a Stanley wood stove with a water jacket.
The house also includes four open fireplaces and boasts bluestone foundations.
Boots sold the property to Ellen Paul in 1875, who then sold it to John Templeton Couchman, a local mine manager, in 1910. It has since had four more owners.
Located on Templeton Street, it is situated on a double block of 2,024 square metres.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-maldon-112892395">Charlotte House has been listed by Leah Panos at Waller Realty Maldon</a>.
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ntrotman-Et3xWpamVh

Historic Charlotte House, Maldon, listed

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From the 22nd of November through to the 8th of December 1956, Melbourne hosted the Olympic Games, it was the first time in the history of the Games that an Olympiad was staged in the southern hemisphere.
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/MelbOlympPoster.jpg" rel="gallery-all" title="Melbourne Olympics poster"><img alt="" class="image-article-full-width-702px" src="http://urbanmelbourne.info/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/MelbOlympPoster.jpg" title="Melbourne Olympics poster" typeof="Image"></a>
Preceded by a period of international turmoil and tension (cold war, Suez crises, etc), many countries boycotted the Games, thus the number of competitors (3342) was the smallest since 1932. Another setback was forced by Australia’s very strict quarantine laws, which caused the equestrian events to be held in Stockholm, Sweden instead. Back home the pre-games period was plagued by delays and disputes over organisation on the various Games construction sites, to the point where on three occasions (1951,1953 and 1955) – Melbourne came close to losing the Games. A year later, most of the problems were settled and the Games proceeded without any major problems and went on to become a magnificent success. Because of the goodwill and friendship between the teams and the abundant good spirited nature of the crowds, the Melbourne Games became forever known as the Friendly Games. The mood of goodwill was further consolidated by the decision of the Games organizers to adopt a suggestion from John Ian Wing, an Australian-born Chinese citizen, that all teams should mingle and walk (not march) during the closing ceremony. This became an Olympic Games tradition.
Competing on their home ground for the first time, Australia fielded a record team made up of 256 men and 35 women which went on to win 13 gold, 8 silver and 14 bronze medals, a record haul as well.
A capacity crowd at the MCG witnessed a glorious Opening Ceremony in which Ron Clarke scorching his arm carrying the Olympic Torch, lit the Olympic flame while having a slight stumble on the final step up to the block to reach the couldron.
The Games introduced us to a new crop of Australian sports heroes such as, Betty Cuthbert, Murray Rose, Dawn Fraser and Lorraine Crapp.  Some of the sporting highlights were Cuthbert in track and field, winning gold in the 100 and 200 metres and the 4 x 100 metres relay, in the swimming pool, Dawn Fraser winning her first two gold medals of a spectacular career and seventeen year old Murray Rose matching Cuthbert, by winning gold in the 400 and 1500 metres and 4 x 200 relay.
The introduction of television was also rushed in to enable Australians to view it all at home for the first time.
Medal Tally
Country               Gold                 Silver         Bronze           Total
1  USSR                37                     29               32                   98
2  USA                   32                     25               17                   74
3  Australia          13                      8                 14                  35
4  Hungary             9                     10                  7                   26
5  Italy                     8                       8                   9                   25
 
____________________________________________________________________________________
Sports and locations
Opening and closing ceremonies – MCG
Athletics – MCG
Basketball – The Glaciarium
Fencing – StKilda Town Hall
Soccer – MCG and Olympic Park
Weightlifting – Royal Exhibition Building
Modern pentathlon – Oaklands Huntclub and various arenas
Boxing – Melbourne Festival Hall
Hockey – MCG and Olympic Park
Yachting – Port Phillip Bay
Shooting – Williamstown range and RAAF station at Laverton
Rowing – Lake Wendouree, Ballarat
Swimming and Diving – Olympic Swimming Pool
Wrestling – Royal Exhibition Building
Cycling – Olympic Velodrome and country road course, Broadmeadows
Gymnastics – The Glaciarium
Demonstrations – MCG
The Olympic Village was at Heidelberg
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thecollector

Memorabilia from the XVI Olympiad, Melbourne 1956

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Offshore buyers are increasingly active in the underpinning of Mosman's property revival.
The latest sale is $9 million on Burran Avenue on <a href="/news">Balmoral </a>slopes to mainland Chinese buyers. The house (pictured above) was described as "an inspirational Susan Rothwell design with views that range from Manly, North Head, Dover Heights, Middle Head, Grotto Point and Balmoral Beach."
<a href="https://www.randw.com.au/405631/" target="_blank">"It's the ultimate lifestyle statement," </a>the marketing said.
Another recent sale was $12.8 million. Last year Property Observer revealed <a href="https://www.propertyobserver.com.au/new-south-wales/chinese-buyers-playing-property-pick-a-box-but-record-mosman-price-unlikely/2012030653723" target="_blank">it was a Chinese buyer who topped recent Mosman 2012 sales</a>, spending $20 million on retired car dealer Laurie Sutton’s 5154-square-metre Bay Street Mosman holding – the suburb's largest harbourfront estate. It was bought by Ying Li.
The brothers Richard and Robert Simeon, from Richardson &amp; Wrench Mosman, have been dealing with increasing numbers of Chinese buyers agents since 2009 when it comes to the marketing of prestige <a href="/news">Mosman</a> property.
Prestige agents have noted the stars have well and truly aligned for Asian buyers wanting to invest in Australian residential projects.
The most recent development has been the introduction of “golden ticket” visas aimed at fast-tracking wealthy Asian investors’ entrance into Australia with a provisional four-year visa followed by the opportunity to apply for permanent residency.
The new Significant Investor Stream Visa (as it is officially known) requires an investment of at least $5 million in state or territory bonds; an ASIC-regulated managed investment fund; or a direct investment in an Australian company, which would include investments in commercial property backing a business such as a hotel or lodge.
The visa allows immigrants to skip skilled migration requirements such as being proficient in English and requires immigrants spend a minimum of just 40 days a year in Australia over the four-year visa period.
There is also no upper age limit, and the main applicant does not have to meet the business points test.
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Chinese buyer surge in Mosman prestige sales 

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The Real Estate Institute of the ACT  (REIACT) president Michael Kumm has played down concerns about the impact of public sector job cuts on the Canberra property market.
Kunn, a 34 year veteran of the Canberra real estate market, expects that whoever wins power on September 14 will shrink the size of the civil service, but says this will be more than compensated by the large numbers of servants due to retire in the next five years.
“Around 20% of those working in the public service are due to retire over the next five years," he tells Property Observer.
“The Liberals are talking about a 12% reduction in the public service - and through natural attrition - meaning they will have to hire an additional 8% to make up the shortfall.
“The reality is that it’s not as bad as people think.”
Another positive factor he says is that whereas in years past, those that retired from the public sector would move out of Canberra, now those that retire are choosing to stay in the federal capital.
Kumm has been involved in selling Canberra real estate through more than a dozen federal elections and says that John Howard’s election win in 1996 and subsequent culling of public sector jobs, had the biggest impact on the property market over these years.
“House prices went back to 1992 prices and only started recovering when we got the Sydney Olympics and money was being thrown everywhere.
“Then between 2000 and 2010 Canberra property prices boomed; there was double digit growth every year.”
Since 2010 prices have been trending downwards.
However, according to Kumm, the public servants that John Howard sacked in 1996 that had the last laugh, using their redundancy packages to pay off their mortgages before later returning to the public service as consultants and earning bigger salaries.
This year, he says its “business as usual” for the property market.
“This year it’s very price competitive, there is plenty of interest around, and things are looking pretty good.”
Property analysts expect 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">Canberra housing market to tread water in the election year.</a>
 
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Concerns over public sector job losses on Canberra property market overplayed: REIACT president

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The luxury architecturally designed Hedges Avenue, Mermaid Beach home of troubled Gold Coast developer Bruce Tilley sold for $5 million at the Ray White Surfers Paradise Group’s annual prestige auctions.
Property Observer <a href="https://www.propertyobserver.com.au/queensland/no-expenses-spared-mermaid-beach-property-hits-the-market/2012052254803" target="_blank">reported the listing in May last year</a>.
{yoogallery src=[images/stories/may23mermaid]} 
Tilley held the house (pictured above) through Hedges Avenue Pty Ltd, and receivers Andrew Fielding and David Whyte were appointed to take control of the company in October last year.
The house was built two years ago after Tilley paid $1.4 million for the 405-square-metre landholding in 2000.
The replacement cost of the property, which has just two bedrooms and a study, has been estimated to be as high as $10 million.
The 20th annual prestige auction event over the week experienced an 80% clearance rate and more than $32 million in sales.
“The sales under the hammer of such high quality properties and the strength of bidding (84 bidders) shows that people have identified that now is the time to make their move on blue chip properties on the Gold Coast,” says RWSP Group’s chief Andrew Bell.
“Bidding was very robust and the prices achieved on most of the properties were a very positive sign. “
“Most of the sales surpassed vendor expectations,” says Bell.
However it was not a happy ending for all, with the Bellagio La Villa – a sprawling estate at Tallebudgera – passed in at $5 million.
{yoogallery src=[images/stories/2013/01/jan18bellagio]}
Bellageio La Villa (pictured above) is home to horse racing enthusiast and property developer Paul Sweeney and his wife, Viki Farrar.
The Sweeneys' luxury home features 10 ensuited bedrooms, plus multiple living areas, a library, media and music rooms, a gym, and indoor pool and spa.
Bell said negotiations would continue with a number of parties interest in the properties.
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RWSP Group secures $32 million in sales topped by $5 million on Hedges Avenue

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The surprise announcement by prime minister Julia Gillard this week of a September 14 federal election, setting the scene for a seven-month election campaign, has thrown the spotlight on the Canberra property market more than in previous election years.
Before the announcement, real estate agents were talking about a two- or three-month lull in property transactions, but they now face a much longer period of uncertainty with the prospect that should Tony Abbott triumph, more public servant jobs will go and spending will be reined in.
Answering questions at the National Press Club yesterday, Abbott promised there would not be Max "the Axe” Moore-Wilton style bloodletting, but did hint that jobs would go while a Budget surplus may also be back on the agenda.
Should Labor be re-elected, its abandoning of its budget surplus promise is expected to have less of an impact on the public sector job market, which augers better prospects for the Canberra housing market, heavily dependent on well-paid public servants being able to afford what is the second most expensive capital city housing market after Sydney.
Around one in four residents in Canberra are directly employed by the civil service according to census 2011 and many more in industries that service the public sector.
Certainly anybody working in the Department of Climate Change and Energy Efficiency won’t be signing any new off-the-plan contracts or applying for home loans between now and September.
Paul Powderly, ACT state chief executive at Colliers, says the concern, once the election was called this week, was that there would also be an early caretaker period announced – a period when departments can no longer lobby for fresh funding – but this won’t kick in until August.
While rhetoric from politicians about saving money and cutting jobs will be a factor, Powderly says the residential market is already supported by an overall improvement in confidence about the housing market and low interest rates.
“Prices are down and rates are at an all-time low, so people think they should get on the property wagon,” he says.
“We are seeing increased inquiry and activity at the moment, and while there will now be some caution from buyers we don’t expect a massive drop-off in activity.”
Powderly expects  a fair bit of activity in residential markets post-election, but does not expect the market to really take off again until the end of the year or early next year.
On the commercial front, he says people won’t be rushing into new commercial leases, but that things will pick up after the election.
Australian Property Monitors (APM) senior economist Andrew Wilson is also fairly optimistic about the prospects for the Canberra housing market and does not expect the election to have a significant effect, though he does have some concerns.
But he remains confident of his expectation that Canberra house prices will reach record levels in 2013 - currently just 1% off previous peaks.
APM recorded a 0.7% rise in Canberra house price over 2012, with a strong finish to the year as prices rose 2.1% over the December quarter to a median of $566,000. Unit prices rose 3.8% over the December quarter to finish the year almost where they began at $415,000.
RP Data figures released to the end of January suggest this good finish spilled into the first month of 2013 with Canberra house prices up 1.4% and units up 2.5%
Wilson tells Property Observer the fundamentals of the Canberra housing market remain sound.
“There is an underlying shortage of accommodation which keeps demand ticking over, there are low rates and always stiff competition for property, “he says.
The concern though is unemployment, which trended upwards last year and has risen to around 4%
“We need to keep an eye of public service employment, levels, which can be a dampener on activity."
In this regard, a Labor win would be better news for the Canberra property market.
Wilson says Labor no longer being wedded to a budget surplus means that monetary and fiscal policy can start working the same direction.
However, a Liberal victory and a tightening of the public purse could spell further job cuts and do to Canberra what fiscal consolidation in Queensland (and thousands of public servant job cuts) have done to the Brisbane housing market.
“The Liberals are still talking about a budget surplus, which could play on the minds of voters,” says Wilson.
One market that may be impacted by the election is the new apartment market, which according to Colliers International is already plateauing and heading towards a situation of oversupply.
Houses predominate in Canberra, accounting for about three-quarters of the housing stock, but the apartment market is on the rise.
According to the census 2011, just under a quarter of dwellings (23%) in Canberra are apartments or townhouses, this compares with about 18% of dwellings five years ago.
Apartment projects require a certain level of pre-sales to receive financing so those that have achieved enough off-the-plan sales up to now will go ahead but others will likely be placed on hold until after the election.
Ariel Pollard, director of research at Colliers International, says there are seven projects comprising 673 apartments which are yet to commence.
“They are 44% sold and will be under threat of not going ahead if pre-sales for these projects are not met and further developments are taken to market”, she says.
But projects that have been completed or under construction are selling well with 91% and 86% sales rate respectively.
Despite a slowdown in the market, Colliers International says about 559 apartments were sold in the past six months with 76% located in the inner North.
The inner north comprises 14 suburbs and spans an area from the northern foreshores of Lake Burley Griffin, around to the ridges of Black Mountain, Mount Ainslie and Mount Majura.
The total number of apartments in the inner north increased 6% to 1,972 over the final six months of 2012.
Canberra photo by Michael Renner courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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