<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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Temperatures averaged 40 degrees Celsius across Australia on Tuesday – a new record – but that’s nothing for the 166 residents of the South Australian desert town of Oodnadatta, where 50 degrees is forecast for later this week.
Oodnadatta currently holds the all-time Australian record temperature of 50.7 degrees set on January 2, 1960.
<img src="/images/stories/2013/01/oondattamap.jpg">
Property Observer notes not much happens on the Oodnadatta property front. No residential listings among its 60 total properties are currently for sale or rent on the major websites, and the last RP Data sale was $20,000 in 2008.
But the Pink Roadhouse is for sale.
<img src="/images/stories/2013/01/pinkroadhouse1.jpg">
Both the business and the freehold is for sale through Steve Foreman at Dale Wood Business Sales Consultancy Kent Town.
<img src="/images/stories/2013/01/oodnatta.jpg">
The business is being priced at $300,000 plus stock. The land has been more difficult to price, with Steve Foreman currently calculating the two recent desert general store sales with a view to offering prospective buyers an indication later this month.
Described as a "world-famous icon of Australia's outback", the roadhouse is located 200 kilometres north east of Coober Pedy.
It's the only business in town and consists of a fuel outlet, post office, bottle shop, hardware store, and general store providing groceries, fruit and vegs.
And the all-important souvenirs as a traveller's oasis.
The licensed restaurant provides sit-down meals for breakfast, lunch and early evening meals.
The business also boasts a large onsite mechanical workshop and a contract to service aircraft with aviation fuel located at the airport.
The sale includes caravan park and motel-style accommodation. There is a private-use swimming pool.
The outback town has had temperatures soaring above 40 degrees every day this year.
"The ground, the building, everything is so hot, you walk outside and you feel it's going to burn you," Pink Roadhouse owner Lynnie Plate told the Adelaide Advertiser.
Earlier this week the roadhouse couldn't serve unleaded fuel after midday because it was vapourising.
Oodnadatta is surrounded by 7,800 square kilometres of mostly with cattle stations in arid pastoral rangelands close to the Simpson Deserte, 1,000 km north of Adelaide.
The name is derived from <a href="https://en.wikipedia.org/wiki/Arrernte_language" title="Arrernte language" target="_blank">Arrernte</a> utnadata, meaning mulga blossom.
The population was 229 in 1976 and 160 in 1986. The 2006 census reported a population of 277 and it was 166 in 2011.
Briefly listed in 2010, the property has been held by the family for just short of four decades.
Making it possible for 4wd’s to travel into the Simpson Desert, it was the Plate family who pioneered The Oodnadatta Track branding around 1980 and overseeing it become consistent with the Birdsville and Strzelecki Tracks which link together forming a tourist route.
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jchancellor-FAypfDUnLy

Australia's truest hotspot of Oodnadatta has its pink roadhouse for sale

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A special investigation finds the Tax Office is aggressively pushing aggrieved taxpayers into settlements to protect its own people, with one property investor saying he’s been ruined by fighting big firms hired by the ATO.
<a target="_blank" href="https://www.abc.net.au/7.30/content/2012/s3623899.htm">Sydney architect Gary Kurzer</a> and his partner sold two investment properties in 2006 under direct instructions from their bank. They had cash losses from the sales, and were told by the ATO that GST did not apply to their circumstances. But the ATO then launched an audit and handed them a tax bill of $207,000 in “GST and penalties” plus tax on “profits of $655,000” never earned.

After a five-year battle that Kurzer says ruined his health, relationship and finances, the ATO finally agreed to determine liability based on the information he had previously provided. This was communicated to Kurzer at the 11th hour at the doorstep of the Administrative Appeals Tribunal hearing room prior to a hearing before a senior member of the AAT.

Despite the matter settling, the ATO issued another incorrect revised assessment of $120,000. Angered by the continued mistakes and mistreatment, Kurzer pursued the ATO for compensation under the <a target="_blank" href="https://www.finance.gov.au/financial-framework/discretionary-compensation/cdda-scheme">Scheme for Compensation for Detriment caused by Defective Administration</a> —?established to help Commonwealth agencies compensate persons who have suffered detriment as a result of an agency’s “defective” actions or inaction, and who have no other avenues of redress?—? including the latest revised incorrect assessment.

The ATO has power to engage legal counsel under the Legal Services Directions, which is administered by the Attorney-General, when there is a legal claim. The Finance Circular 2009-09 is clear that the Legal Services Directions do not apply to a CDDA claim?—?it’s more a moral obligation to assist those who have suffered. Despite this, the ATO hired big law firm Minter Ellison to handle the CDDA claim. The ATO said in a statement: “It is not unusual for us to obtain legal advice where there is no legal claim or litigation on foot. Our views on CDDA claims comply with the Department of Finance’s guidelines.”

The ATO advised Kurzer of its decision after receiving advice from Minter Ellison, that no defective administration arose and no compensation was payable. Kurzer continued to owe $120,000. Minter Ellison charged the ATO $128,000 for this advice, as <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/01/crikey1minterbill.pdf">documents obtained by Crikey</a> under freedom of information laws show.

Kurzer was relentless, eventually pushing the ATO to review the CDDA claim for the second time, where it was uncovered the Tax Office made major mistakes in the revised assessment?—?Kurzer only owed $8,554. The ATO continued to deny any liability for mistreatment during the audit and objection stages but now admitted it made mistakes in the revised assessment. Despite Minter Ellison being engaged to review Kurzer’s tax liability, it found no mistakes.

At a mediation meeting chaired by former royal commissioner Tony Fitzgerald and attended by Kurzer, ATO officers and Kurzer’s lawyers (appointed by the Tax Office), the <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/01/Crikey2atodeed.pdf">deed of release shows</a> the ATO offered $70,000 in compensation contingent on Kurzer releasing the ATO and every officer, employee and agent from any liability beyond the scope of the major calculation errors, and equally for all future claims, whether related or unrelated to the dispute.

The ATO also sought a confidentiality clause. Kurzer accepted the $70,000 and agreed to release the ATO from any future liability on the basis the ATO does not stop him from pursuing his rights in relation to his mistreatment during the audit and objection processes and to delete a blanket ban on all future claims unrelated to the dispute. The ATO then refused to pay the $70,000 compensation.

In direct contradiction to this, the ATO told Crikey: “There is no compulsion for taxpayers to settle matters they do not want to settle. Settlements made in relation to a particular dispute do not affect future claims arising in relation to a completely unrelated dispute.”


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In addition to Minter Ellison’s fee of $128,000, Fitzgerald’s fee for conferences, preparation and the mediation was $12,650?—?according to <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/01/CRIKEY3fitzgeraldbill.jpg">a tax invoice</a> released under FOI?—? while ATO appointed lawyers for Kurzer, LAC Lawyers, were <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/01/Crikey4LACbill.pdf">paid $19,992 for legal advice</a> and attendance at the mediation. The ATO refused to pay LAC Lawyers for any assistance to Kurzer after the mediation. In addition, the ATO expended $47,599 in relation to the CDDA claim. In total, $208,241 was spent on a case with an offer of $70,000 in compensation that was ultimately rejected by Kurzer.

Kurzer is highly distressed. In five years of attempting to gain justice he says he has lost everything he has worked for over 40 years, and faces imminent foreclosure. “Each day is a battle to stay afloat,” he told Crikey.

“Minter Ellison was hired to check the ATO view and they came up with zero errors and zero compensation, and I was intimidated by them in denying my rights. The ATO then attempted to silence me via an oppressive deed with a patronising offer of $70,000 to me as compensation for my losses and expenses over five years. Although that was a tiny fraction of my losses, to even accept this, they insisted on a massive legal gag on my rights.

“I will continue to fight, not just because of my circumstances but also because the ATO are doing this to innocent people across the country every day, decimating families and small businesses. In tough times it is heinous that the ATO can expend huge amounts of public money to bankrupt people. What is the net advantage? People are forced onto welfare, instead of being active taxpayers. I will now be seeking a realistic monetary claim that reflects my losses in the Federal Court for negligence, breach of statutory duty and misfeasance against the tax office.”

A senior Sydney tax lawyer who is involved in negotiating settlements with the ATO on a regular basis but did not want to be identified said: “Settlements are sometimes instituted by the ATO because they know they have done the wrong thing. Unfortunately, in these cases the wrong thing ends up being hidden from the public by the use of a confidentiality clause. They won’t talk about what they did wrong.”

Allegations about the ATO’s use of legal services coincide with the <a target="_blank" href="https://www.ag.gov.au/Publications/Documents/Commonwealth%20Legal%20Services%20Expenditure/OLSC%20-%20Legal%20Services%20Expenditure%20Report%202011-2012.PDF">announcement last month</a> by the Attorney-General’s Department that the ATO was the biggest user of legal services in the Commonwealth, spending $101 million dollars in 2012. The report shows a 30% increase in the provision of external legal services (such as Minter Ellison and Clayton Utz) in just the last two years. At the same time the average rise in external legal costs across all government agencies was just 7%. External legal services accounted for $64.9 million of the total figure, while $46.1 million was spent internally.

<a target="_blank" href="https://www.crikey.com.au/2012/09/20/ato-whistleblower-in-court-they-sabotaged-my-complaints/">Crikey reported in September</a> the ATO had offered Serene Teffaha a $250,000 settlement to walk away from litigation she launched for bullying as a result of a whistleblower complaint. She was prepared to accept the offer and release the ATO commissioner from vicarious liability as long as she was not barred from pursuing the senior public officials personally for their misconduct against her. The ATO refused to settle on that basis.

“My motivation is not money??—??just accountability,” she said. “It is perplexing the lengths the Commonwealth will go to, to protect the wrongdoers. Unfortunately for the Commonwealth they are now risking a whole lot more than just money.” Teffaha says she has been told the Commonwealth will back the personal defences of the officials involved by funding Clayton Utz’s services.

The Attorney-General’s Department is the guardian of how Commonwealth agencies pursue litigation. Crikey put a list of questions to the department and was told: “Questions regarding the ATO’s reasons for settling claims, legislative authority for engaging counsel, and its conduct in the handling of claims and litigation, should be directed to the ATO.”
“The difficulty with releases and confidentiality provisions is that they are exclusively for the benefit of the [ATO] commissioner,” David Hughes, a tax partner in law firm SMH Tax Lawyers, told Crikey. “Aggrieved taxpayers are silenced and ATO errors … are not brought into the public domain. This allows ATO officers the latitude to continue working without accountability to the public.

“Confidentiality clauses in settlement deeds have their place in commercial settlements, but the Commissioner is at pains to emphasise that he negotiates on a ‘principled’ basis, not a commercial one. If that is so, then the principle by which they reach settlements must be transparent. He cannot have it both ways.”

But some lawyers see the benefit of commercial settlements. Andrew Robinson from Robinson Legal, who gained notoriety as the outspoken lawyer for Paul Hogan and John Cornell in their very public dispute with the Tax Office, believes early settlements are good.

“Whether it’s right or wrong, making sure settlement discussions and settlement agreements don’t see the light of day probably means that all parties can be more open in their discussions which can lead to earlier settlements. While discussions take place they can’t be disclosed because they are without prejudice and if a settlement deed happens it’s bound by confidentiality so all parties know that nothing they say should hit the public record.”

 

This article first appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey.com.au</a>

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lschlesinger-FZcF9M3vE6

Sydney property investor battles ATO for five years over tax bill on property sold at a loss

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Marsala House, the fabulous 1970s Brutalist Iwan Iwanov-designed Dianella, Perth house that is the youngest property to be enshrined on the Western Australian heritage list, sold just two days after the Property Observer spotlight in April. The vendors Mark Etherton and Christopher Beer bought the then deteriorating house in 2005 for $725,000 and embarked on a massive restoration project. The result quickly re-established <a href="https://www.propertyobserver.com.au/western-australia/perths-iwan-iwanov-designed-brutalist-marsala-house-listed-for-sale/2012041654307" target="_blank">Marsala House </a>as one of Iwanov’s most idiosyncratic explorations of Australia’s late 20th-century Brutalist style, a movement that includes iconic Canberra buildings including the High Court of Australia and the Australian National Gallery. And so it sold for $2.2 million to the PR queen Melissa Lekias and partner, Jamie Mills. Built in 1976 for the Marsala family, the project pushed the boundaries of concrete block contemporary design, while the inside was heavily influenced by Las Vegas overstatement. It had been listed through Paul Tonich of Altitude Real Estate with $2 million-plus hopes. It first sold for $490,000 in 1992.
 
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2.
<img alt="mosmanpark" src="/images/stories/2012/12/mosmanpark.jpg" width="400" height="225"> 
Anuket at Mosman Park in Perth has been sold in a partially gutted state for $11 million. It last sold in 2008 when property developer Luke Saraceni bought it from mining speculator David Rigoll, the former early-1990s Colonial Resources managing director, through the agent William Porteous for $16 million. It had previously also traded at $16 million in 2007 when offloaded by Firepower director Tim Johnston, who had bought it from property developer <a href="https://www.propertyobserver.com.au/residential/warren-anderson-homeless-and-bankrupt/2011112552549" target="_blank">Warren Anderson</a>. The house was built for the Burswood Casino developer Dallas Dempster to a design by architect Louise St John Kennedy.
The house was gutted and ready to be finished to one's own standard. Set on a 1,425-square-metre block, it comes with five bedrooms, six bathrooms and four living areas. The Chidley Way property comes with a huge lap pool overlooking the Swan River <a href="https://www.propertyobserver.com.au/western-australia/perth-developer-luke-saraceni-s-partially-gutted-mosman-park-residence-listed-for-sale/2011120752734" target="_blank">Expressions of interest </a>were sought in March 2012, with the sale secured in November through Linda Sullivan at Space Real Estate Cottesloe to the McGeorge clan.
 
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{yoogallery src=[images/stories/2012/12/dec20farnley]}
The grand and glorious <a href="https://www.realestate.com.au/property-house-wa-mount+lawley-107044500" target="_blank">Farnley Towers </a>at Mount Lawley sold for $3,025,000 mid-year. It's a 1913 home with dual signature fish-scaled towers, extensive wrap-around verandas, exquisite stained glass, wrought iron and distinctive fretwork. All in the Art Nouveau style from the front gate throughout. It was bought by a couple at ecologia Environment.
 
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{yoogallery src=[images/stories/2012/12/dec21fan]}
The <a href="https://www.realestate.com.au/property-house-wa-attadale-110467225" target="_blank">Japanese fan-style </a>house, a landmark tri-level residence at Attadale, sold for $2.85 million, having been listed through Sam Fazio at Harcourts Realty Plus Hamilton Hill. It comes with amazing Marri timber spiral staircase. The  dining area has a custom made terrazzo table and lazy Susan. There's also 2.7-metre deep swimming pool with an 18-metre long curved infinity edge finish featuring three port hole windows that capture the guest room downstairs. There's a six seater state-of-the-art therapeutic jacuzzi, a sauna and outdoor cocktail bar and entertaining area. For a while the vendors tried to rent the Doongalla Road property at $2,500 a week.
 
 
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5
<img src="/images/stories/2013/01/forrest2.jpg">
There were growing whispers that Denby Macgregor,  the only daughter of late Multiplex founder John Roberts, was abandoning plans to build on the $30 million superblock in Mosman Park ever since the local paper suggested Macgregor was looking at a heritage home in Cottesloe. Subsequently fetching $8.85 million in September, the Forrest Street, <a href="/news">Cottesloe</a>, house with a tennis court on its 1,772-square-metre holding (pictured above) was sold by Angela Nasuti, who bought it in 2006 for $4.8 million. Overlooking Sea View Golf Course, the home was built in 1924 for solicitor Joseph Barsden. Macgregor has now listed her recently renovated Mosman Park house on a 1,639-square-metre block through <a href="https://www.realestate.com.au/property-house-wa-mosman+park-112183655" target="_blank">William Porteous Properties International</a> in conjunction with <a href="https://www.mackhall.com.au/for-sale/mosman-park/hill-10-terrace/274522.aspx" target="_blank">Mack Hall Real Estate</a>. It's a non-riverfront portion of the five-block site consolidation, which cost more than $30 million in 2009 and covered about 5,500 square metres.
 
 
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6
{yoogallery src=[images/stories/2013/01/jan9donegal]}
Saved from the bulldozer 12 years ago and sensitively restored, the classic mid-1960s Modernist home with light-filled spaces and internal glass walls made it the perfect setting for the 2004 movie Thunderstruck, featuring Stephen Curry and Sam Worthington. It's had a major renovation since the film about five devoted AC/DC fans who made a pact to bury their best friend next to Bon Scott in Fremantle Cemetery. Listing agent Tim Tyler at Tyler &amp; Sons promoted what was <a href="https://www.realestateview.com.au/Real-Estate/4-donegal-road-floreat/Property-Details-buy-residential-4435561" target="_blank">an architect’s own three-bedroom, split-level home </a>as having a solar passive design with a north-facing entertaining area and garden on its 769-square-metre block. Its most recent asking price before going under contract was $1.5 million, having been listed at $1.75 million.
 
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Thunderstruck: Six prestige Perth sales that snuck through when we weren't looking

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Property prices in the Queensland mining boom town of Gladstone are starting to cool, with prices for older houses and units falling by as much as 20% in some cases, according to property valuers at Herron Todd White (HTW).
HTW describes the Gladstone market – driven by a number of liquefied natural gas (LNG) and coal projects – as “volatile”, with a stabilisation in rents flowing through to softer capital values.
HTW reports of a “new phase in the Gladstone residential market” noting that that vacancy rate has increased from just 0.5%  at the start of 2012 (with minimal vacancies particularly noticeable in three- and four-bedroom dwellings and two- and three-bedroom units and townhouses) rising to between 1% and 2% by the end of the year and “trending upwards”.
“We are now seeing declines in values from what was being achieved approximately 12 months ago," HTW says.
“For the first six months of 2012 we saw evidence that the market was stabilising or softening with some values creeping back 5%.
“In the last four months, transactions have shown values have declined further. New housing and unit stock has come back by up to 5%, whereas older housing and unit stock has come back by as much as 20% in some cases," says HTW in its December report.
“We are seeing an ever increasing number of current contracts that are far below a value that could have been achieved at the beginning of 2012,” says HTW.
These observations follow property market analyst Michael Matusik declaring the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/gladstone-s-mining-related-property-boom-over-michael-matusik/2012081556036">Gladstone mining-related property boom over in August last year</a>, with hotspotting.com.au's Terry Ryder saying around the same time that the savviest of investors were in the market 12 to 18 months prior.
However Matusik refined his view on Gladstone towards the end of last year, suggesting it remained a<a href="https://matusikmissive.com.au/2012/11/27/g-10/" target="_blank"> "healthy real estate market"</a> with reference to the success of a recommended new off-the-plan development, <a href="https://www.stoneapartments.com.au/" target="_blank">Stone Apartments</a> near the Gladstone city centre, now 70% sold out.
According to HTW, local selling agents are reporting a loss of confidence in the market with recent research indicates that the volume of unit and dwelling accommodation available in Gladstone has increased significantly.
 
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Recent sales show a number of older properties failing to sell at auction and then selling at reduced prices following long listing campaigns lasting many months.
These include this three-bedroom house on <a target="_blank" href="https://www.realestate.com.au/property-house-qld-telina-110971499">Finchley Street in Telina</a>, which sold through Kerry Connor of Go Gecko Gladstone in mid-December for $398,500 – an 11% discount to its July 2012 listing price of $449,000.
Another recent sale was<a target="_blank" href="https://www.realestate.com.au/property-house-qld-south+gladstone-109519076"> this 1950s four-bedroom house</a> on Martin Street in South Gladstone, which sold through Margie Richards of PRDnationwide Gladstone for $445,000 in November.
RP Data records indicate that it failed to sell at auction in February and April and was then listed for sale in May at $478,000. The asking price was reduced to $469,000 in August and then reduced further to $449,000 in May before finally selling for $445,000.
In a recent <a href="/news">Property Observer webinar</a> looking at the prospects for regions versus cities in 2013, Terry Ryder highlighted rising rents as being a leading indicator of rising prices, but with a lag period of about a year.
In the case of Gladstone, Ryder says the first big rent rises started happening in 2011, but property prices only really lifted in 2012 – rising about 16%.
The stabilisation in Gladstone rents, as reported by HTW, suggests that the prospects for price growth are weaker in 2013.
In its assessment of the Gladstone market, HTW says that at the start of 2012, it predicted that activity would remain high and demand would stay very strong across all residential property types.
“We also stated that values were already at record high levels and we were unsure just how much higher prices would go.
“Over the course of this year, confidence in the market has dropped slightly, activity remains strong however not at the levels we were experiencing during 2011 and the record high prices have started to soften.
“We are now seeing declines in values from what was being achieved approximately 12 months ago."
HTW says it is aware of extensive land and unit projects being developed in the area with demand for these products being “moderate to high”.
“However, as more and more stock is produced and made available to the market, it is effectively increasing the competition in the area and giving potential purchasers a greater degree of product selection.
“The demand for newer stock with high rental returns now outweighs the demand for older existing stock. This has forced prices down and we are now seeing a greater differentiation in values,” says HTW.
HTW says it is difficult to gauge the actual level of demand and whether prices are “at market” due to a high percentage of available vacant land marketed and sold by specialist project marketers off the plan to “out of town investors” with none of these pre sales settling until construction of the estate is complete.
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Gladstone property market cooling, with some 20% price corrections: HTW

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Bartinon, the seven-bedroom waterside mansion in Sorrento, could enjoy the prospect of the slightly rising prestige price tide on Queensland’s Coast Coast.
It's back on the market through Lucy Cole, having been on and off the market since the highest bid of $7.25 million offered at 2011 auction fell short of the $8 million paid in April 2009.
Transport tycoon Douglas Kefford bought it from Cameron Davis, from the Samtay Group, and his wife, Lynette.
Prestige prices on the Gold Coast got a slight fillip last year with agents suggesting sales activity indicated the market was endeavouring to bounce off the bottom of previous lows.
The seven-bedroom early 1980s Bartinon was built by tycoon Sir Justin Hickey and his wife, Lady (Barbara) Hickey.
The name of the one-hectare Riviera estate incorporates the initials of their five children.
Hickey, the Marrickville-born insurance magnate who started his career cutting lawns, moved to the 250-squares house in the early 1980s after selling his Emerstan Drive, Castle Cove, house to businessman Phil Cave.
With 85 metres of frontage, it is one of the largest residential blocks on the Nerang River on the coast.
Davis paid $6,665,000 in 2006 to buy it from former Fraser Island tourism operators Sidney Melksham and Angela Burger.
The 6,500-square-metre riverfront Sorrento property previously sold for $4.25 million in 2001 when offloaded by Indonesian industrialist Alimin Soenario.
Soenario had set a $3,125,000 record in 1994 when he bought it on its then 9,000 square metres.
Kefford, who has spent only four or five weeks a year at the house on Marseille Court, has it listed with offers due by January 31.
Selling agent Lucy Cole of Lucy Cole Prestige Properties told the Australian Financial Review that it was hard to name a price in the current market but the vendors were "keen to negotiate."</body></html>

Sorrento mansion Bartinon back on the market

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Better affordability in Sydney and Perth should result in property price growth of between 4% and 6% in these key capital city markets, says Rod Cornish, real estate strategist at Macquarie Capital.
But Cornish says Melbourne, where property is relatively less affordable, is likely to record lower housing price growth.
According to Cornish, if the RBA cuts the cash rate twice more this year Sydney's housing affordability will fall to levels last seen in 2001, with a similar scenario for Perth.
“Normally when you see affordability gets to these levels you see a double-digit jump in prices, but given people’s lower propensity to spend, I think it will be single-digit growth.
“Instead of 10% to 12% growth there will be 4% to 6% growth in Sydney and Perth,” Cornish said in an interview with Australian Financial Review TV.
But in places like Melbourne, which Cornish says is still going through an over-extended cycle, price growth will be lower.
Cornish pointed out that there had been five rate-cutting cycles since 1990, but that the latest one (which began in November 2011) was by far the slowest, meaning a patchy impact on affordability.
“The RBA cut rates twice in 2011 (25 basis points rate cuts in November and December) but then there was a five-month gap [until the May 2012 50-basis-point rate cut].
“In that time the banks raised their mortgage rates, we have never seen that big gap before – this has an impact on affordability."
As a result he said affordability remained “patchy” across different property markets.
 
 
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Sydney and Perth set for property price growth of between 4% and 6% in 2013, with increased housing affordability: Macquarie Capital

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

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The north shore is shaping up to be the top-performing Gold Coast market as buyers take advantage of reduced prices on a number of projects in the hands of receivers.
There were a total of 54 sales recorded across nine medium- and low-rise projects on the north shore, making it the top-performing precinct for the third consecutive quarter, with a total of 156 sales for the first nine month of the year, according to September 2012 quarter figures from Colliers International, which were released just before Christmas.
The north shore precinct includes suburbs from <a href="/news">Hope Island</a> to <a href="/news">Biggera Waters</a>, about 15 minutes from <a href="/news">Surfers Paradise</a>.
The report provides an overall favourable impression of the Gold Coast apartment market, reporting 140 sales across high-, medium- and low-rise sectors over the three months to September – an increase of 5% on the previous quarter and 43% up on the same period last year.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/12/colliersdec20.gif" rel="shadowbox"><img src="/images/stories/2012/12/colliersdec20thumb.gif"></a>
Tony Holland, Colliers International residential project marketing director, says price growth in the new apartment market is yet to be seen, but an “impending supply shortage would likely lead to strengthening prices at some point down the track”.
“Based on the current quarterly selling rate, the supply of new apartments could be taken up within 1.9 years, which is the lowest expected absorption period in two years, and if the sales rate increases this time frame will be reduced.
In contrast, the more up-to-date <a href="https://www.propertyobserver.com.au/developments/heavily-discounted-hilton-surfers-paradise-the-only-notable-gold-coast-high-rise-seller-in-november-quarter-midwood/2012121958540" target="_blank">Midwood Report</a> for the November quarter shows just 45 sales (19 in high-rise projects), a 50% drop on a year ago, and has more than 700 high-rise apartments available for purchase, indicating a much longer supply pipeline.
Colliers International reports 26 high-rise sales over the September quarter.
“The [north shore] figures exceed annual sales for 2011, 2010, 2009 and 2008. With one more quarter still to be reported, 2012 is shaping up to be a standout for this precinct,” says Colliers International research manager Lynda Campbell, who compiled the report.
“The increased sales rate during 2012 has been as a result of several projects falling into the control of receivers or financiers who have reduced prices and made concerted efforts to sell down remaining apartment stock.
“This has been an ongoing process and has resulted in stock levels reducing significantly, particularly at Hope Island where only 28 new apartments remain on the market, the majority of which we would expect to see sold over the next six months, if not sooner,” she saids.
<img src="/images/stories/2013/01/mistral.jpg">
Mistral at Harbour Quays (pictured above) was the best-performing project, recording 17 sales during the September quarter, followed by the now sold-out Ilanah Aqua development at Hope Island (pictured below), with 12 sales.
<img src="/images/stories/2013/01/ilanah2.jpg">
Mistral, currently under construction, features 60 one- and two-bedroom apartments being developed by the Emandar Group. There have been 33 sales recorded to date, with 27 apartments still available for purchase.
One-bedroom apartments start from $309,000.
The Emandar Group has told Colliers International that the remaining apartments are under contract, with the project expected to sell out during the December quarter.
If sales continue at the current rate and no new projects are marketed off the plan, overall supply could be taken up in just over 14 months.
Supply will dry up in just three months in the low-rise sector at the current sales rate.
Analysis by Colliers International shows there are around 1,400 apartments in various stages of planning and gaining approvals.
All planned apartments are in the low- and medium-rise sectors, with around 45% mooted for Hope Island.
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North shore the standout Gold Coast new unit market in 2012, helped by receivership sales: Colliers

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

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Entrepreneur Christian Ainsworth has listed his seven-bedroom, nine-bathroom home at The Sovereign Islands on the Gold Coast.
The Brittanic Crescent house on a 1,950-sqare-metre block cost $7.2 million about two years ago.
It's been listed for auction on January 29.
Ainsworth, son of Aristocrat gaming machine founder Len Ainsworth, has been trying to sell the property since October.
Its most recent price tag was $5.2 million.
Ray White Runaway Bay Ali Mian has the listing.
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