<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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Non-residents and off-shore owners of Australian property who have been affected by the 2012 federal budget removal of the 50% capital gains tax (CGT) discount, are being advised by property valuation firms to obtain a timely market valuation. Brendon Hulcombe, the ceo of national independent property advisory Group Herron Todd White, said the new rule took effect after 7.30pm on 8 May 2012.
“While the discount is planned to be withdrawn from 8 May 2012, expatriates and offshore investors can still claim the CGT discount for capital gains accrued prior to this date, if the non-resident obtains a market valuation of assets as at 8 May 2012,” he says. “In order mitigate the rising costs of CGT for non-residents, we are providing recommendations to our international clients who own any type of real estate in Australia to urgently obtain a market valuation”, Hulcombe says. 
Mr Holcombe said that although the discount was currently available to all individuals and trustee taxpayers irrespective of residency it would largely impact non-resident individuals who hold interests in Australian real estate. 
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Off-shore property investors urged to get valuations following 2012 federal budget CGT decision

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<img src="/images/stories/2012/BlaineyNorth-CrownConservatory-01.gif" alt="BlaineyNorth-CrownConservatory-01" width="400" height="225">
Blainey North is the Sydney interior decorator of the moment, but her profile is higher in Melbourne.
She’s just scored the dream decorating design job of Nicole Kidman and Keith Urban’s 798 square metre <a href="https://www.propertyobserver.com.au/news/nicole-kidman-expands-her-milsons-point-penthouse/2012073055775">amalgamated penthouse</a> high above Lavender Bay, Title Tattle has gleaned.
And of course, she’s billionaire James Packer's preferred decorator.
The Age readers know of her given the recent re-opening of the Conservatory buffet restaurant at Crown. Its major refurbishment was by North's Sydney-based design group, which created an environment where customers can interact with the chefs cooking behind the buffet.
Crown invested millions in the makeover, which has served more than a million meals since 1997, according to Crown's executive general manager of food and beverage, Nicolas Kurban.
Adopting century-old techniques set in a modern context, guests feel they are in London, Shanghai or New York during an era when craftsmanship and materials were revered and buildings and interiors were designed to endure and built to last. At least that's the speel.
There are four distinct areas in the 190 seat Conservatory, including a small collection of tables assembled close to the antipasto, seafood, salad and cheese selections.
There are white marble floors, bespoke chandeliers, a distinctive woven timber ceiling, custom-made carpets, very generous chairs inspired by racing cars plus steel screening.
The restaurant is flanked with floor to ceiling mirrors, plus double-height windows overlooking the Yarra River.
There's a palette of green and stark white throughout.
In the open-plan kitchen custom-made spice jars hang on walls and hundreds of red mosaic tiles - inspired by Victorian fenestration - are used to theatrical effect.
She has also designed The Chairman's Villa at Crown. 
North was first spotted by the mainstream press when shortlisted in the 2005 The Interior Design Awards, but has since barely rated a mention in the Sydney newspaper columns other than when she married Russell Crowe’s personal assistant, Keith Rodger in mid-2011.
North is known to be a fan of art deco with a restrained colour palette, and the use of wood panelling and chrome accents.
Indeed her first home – sold in 2010 to model Lara Bingle at $882,000 – was in an art deco Darling Point apartment complex.
It was a renovated, one-bedroom unit with city and harbour views from most of its 65 square metre space, which North had secured for $700,000.
It featured elegant American oak parquetry flooring.
Her bespoke projects have included the 54 Park Street spa where Nicole Kidman is known to work out.
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Blainey North, the chic Sydney interior decorator, takes the crown in Melbourne

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So what are the first home buyers doing in the market now? They are struggling to make the transition to home owners as they have in every generation. I can remember being a first home buyer in 1994 and I had the same problem trying to get into the market. One year later and having missed out on three more affordable properties, I ended up getting into the market with my first home in Brunswick East in 1995, a three-bedroom brick Edwardian for $168,000. Prices have increased by 10% each year since, making affordability a real issue for first home buyers.
Our buyer’s agent company over the last 12 years has seen what works and what doesn’t work. So  our top five tips for first home buyers across Victoria at the moment are:
<ol>
<li>
Seek professional advice from experienced professionals or family/friends An experienced mortgage broker, buyer’s agent/advocate, building inspector and solicitor can give you the advantage when it comes to securing your first property. They are the key people whose experience you should tap into and seek help from. Remember, there is no need to reinvent the wheel. Invest in taking a few experienced property professionals or savvy property buyers for a coffee and learn from their tips and avoid the mistakes they made. 
</li>
<li>
Do your research and be ready Make sure you have your finance pre-approved (in writing) and have at least a 5% deposit in a bank account that’s ready to go. If money is in an ING account, move it a few days earlier as it will take a few days to transfer the funds. If the right property comes up, you can bid unconditionally at the auction or make a strong private sale offer. Stay at home or in a cheaper share rental accommodation with others so you can save up that elusive first deposit. Set up a savings budget and subscribe to the many budget plans there are now online. 
</li>
<li>
Do your due diligence Visit different types of properties (houses versus townhouses versus units) and different suburbs/areas and work out what properties and areas match your lifestyle. It may be better to buy an apartment in the inner suburbs that you will enjoy living in, versus a house in the outer suburbs that meets your accommodation requirements but doesn’t match your lifestyle. Then visit at least 20 properties in the area you have shortlisted so you get a good foundation of the comparable sales in that area. 
</li>
<li>
Do your research and due diligence Make sure that you have a solicitor/conveyancer review the contract before signing and always organise a building/pest inspection prior to purchasing or make the offer subject to a satisfactory report. Ring the local councils and ask about any proposed developments and if it is in a unit complex, contact the Owners’ Corporation and ask about any building issues or proposed special levies. 
</li>
<li>
Don’t get too emotional when negotiating It is easy to get carried away and expose yourself to over-paying for the property. Set a limit that is within your pre-approved budget and stick to it (within reason). Always have a family member/close friend or buyer’s advocate/agent who has had experience in negotiating or bidding at auction negotiate on your behalf and stop you from getting carried away as there will always be other properties. Sometimes you will need to walk away and wait for another door to open.</li>
</ol>
So what can be done to help first home buyers further?
<ul>
<li>
Stamp duty savings: The State Government’s announcement in the new budget that they would continue with the current 20% stamp duty reduction and a further 10% in January 2013 and a further 10% in both January and September 2014, totalling 50% was widely supported by real estate professionals. Now there needs to be more promotion of these incentives which can amount to up to $5,000 for purchases under $600K.</li>
<li>
Follow the New Zealand model: As in New Zealand, allowing first home buyers to access their voluntary superannuation contributions and have it paid back in a certain number of years. This would assist more first home buyers in saving that elusive deposit and getting a foothold in the market.</li>
<li>
Stamp Duty lay-by scheme: The REIA and REINSW recently proposed a “lay-by scheme” where first home buyers could pay back stamp duty over a three year period. With stamp duty amounting up to $35K for purchases up to the $750K maximum to qualify for the grant, a lay-by scheme would assist more FHB. 
</li>
<li>
Savings Account: The government’s FHB Savings Account program has not really assisted anywhere near as many first home buyers as the government would have wanted. Another scheme that works and is well promoted needs to be implemented. 
<ul></ul>
</li>
</ul>
In summary, first home buyers are the most important piece of the property market jigsaw puzzle. First home buyers demand underpins our property market as it then encourages investors and the next middle group of buyers to “upsize” or trade-up. It will be interesting to see how many more first home buyers enter the market with rates reducing further.
First home buyers’s activity affects price movements and when interest rates start dropping, this also brings out more investors in the market. There are a definitive number of first home buyers out in the market, averaging around 21% over the last 21 years and the recent incentives have just encouraged these buyers to purchase earlier.
The State First Home Buyer’s new property grants of $13,000 expired on June 30 2012 in favour of a broader market stimulus through first-home buyer stamp duty cuts.
A 20% discount had previously been introduced, with another 10% discount to follow from January 1, 2013.
The recent high demand has fallen off from a peak of 30% to a low of 15% and it will take a while for first home buyers to increase to high levels again.
This article was written by Frank Valentic, Buyer’s Agent of the Year REIV (2007, 2009) REIA (2008, 2010), and Managing Director of Award Winning Buyer’s Agency, Advantage Property Consulting.
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So what are the 2012 first home buyers doing? Frank Valentic

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{yoogallery src=[images/stories/2012/07/55lavander]}

International actor Nicole Kidman has almost doubled the size of the Milson Point penthouse she occupies with singer Keith Urban – and vastly improves her Sydney Harbour Bridge views.
The 380 square metre 21st floor acquisition high above idyllic Lavender Bay was completed last week at an undeclared price.
Kidman has owned in the Latitude building at Milsons Point since paying about $6 million in 2009 for the neighbouring 418 square metre two-storey (pictured above) apartment.
The initial 21st-floor penthouse acquistion was bought from the Wizard founder Mark Bouris, whose family company bought it off the plan in 2005 for $4.75 million. It was a three bedroom apartment with 2.5 luxuriously appointed bathrooms. The master suite was contained within its own private wing, complete with a marble en suite, dressing area and terrace access.
The additional two bedrooms were upstairs along with an expansive family room.
Kidman has now enlisted the services of <a href="https://www.propertyobserver.com.au/news/blainey-north-the-chic-sydney-interior-decorator-takes-the-crown-in-mebourne/2012073055777">Sydney-based interior decorator Blainey North</a>.
Her latest purchase which was not marketed publicly will enhance her southern views of Sydney Harbour. The new acquisition last sold at $4.95 million in 2006, with its latest sale not yet recorded by leading property data bases. Its been mooted that the sale may have been around $7 million.
It was sold by Matthew Dillon who has spent much of his time in the Schindellegi village overlooking Lake Zurich in Switzerland. 
Title Tattle understands the contract was signed in February this year by her longtime lawyer John Picone.
The purchases takes the couple's car parking and basement storage space to 99 sq m. The apartments are the Mirvac-converted 1960s Sharp office block.
Kidman sold her three-storey Darling Point house in 2009 for $12 million. She retains the Bunya Hill homestead estate in the Southern Highlands of NSW.
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Nicole Kidman expands her Milsons Point penthouse

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I’m going to confess that I can get lost in demographic information for hours. I love it! I really find it an interesting challenge to be able to work out what a typical household looks like and translate that into what a typical property suited to that tenant should look like. We know the median for an area and together with what we know from researching real estate sales websites, we also have an idea about what that typical property looks like (for example, a three-bedroom weatherboard house or a two-bedroom brick house). Now let’s take it a step further. Many of the real estate sales websites offer suburb profiles (or similar information). The information produced in the suburb profiles is sourced from the Australian Bureau of Statistics (that is, census data) and gives you an idea about what a suburb or town looks like. Let’s assume I have never been to postcode 2032 in Sydney. Have a look at the demographic information in the table below and tell me what strikes you about what you see.
<img height="138" width="468" src="/images/stories/2012/janess1.jpg" alt="janess1">
<img height="697" width="468" src="/images/stories/2012/janess2.jpg" alt="janess2">
<img height="500" width="468" src="/images/stories/2012/janess3.jpg" alt="janess3">
Here’s what strikes me about this specific example (this should help you to apply this type of thinking to your selected suburbs): Nationality: A high proportion of residents in the area are of Indonesian, Chinese and Greek nationality. So, I may start making some general notes on what type of accommodation these nationalities could prefer. For example, I would heighten my attention on units for the Asian population, so I would note down to keep that in mind. Age of the population: This tells me that, compared to the rest of Sydney, a large proportion of the population is in the 20- to 39-year-old age group. I would start wondering if I was near a tertiary learning institution such as a university. This might also fit with the nationality data. If I found a high proportion of school-age children, I would note down that I want to know where the schools are located with respect to any property I am considering, and if I wanted to be more thorough, I would look at the My School website at &lt;www.myschool.edu.au&gt; and see which schools in the area are better than others. Marital status: The demographic tells me that there is a large percentage – 46% in fact – of single people living in the area. Now I might start thinking that university accommodation is something I need to consider if I’m going to invest here. Also, I might consider one- or two-bedroom accommodation for students, not five-bedroom houses. Education: Wow! Almost four times as many people in this suburb are at university than in all of Sydney. This information is really starting to indicate some important criteria to consider when looking at purchasing an investment property in this area. Transport to work: This data informs me that compared with all the people in Sydney, five times as many people in this suburb travel on public transport. So, straight away, I start thinking that a garage may not be that important. However, I would want the property I buy to be within 300 metres of the bus or train station. Type of dwelling: Just to confirm my suspicions, a large proportion of the population of this area lives in units or semis, so that is the typical type of property for most people in the area. Nature of occupancy: And just in case I missed it completely, this information tells me that a very large proportion of individuals in this area are renting. As an investor, I know this means that people want to live here. From what I have learned above, I know that they need to live here because it is close to a university or other tertiary learning institution. So, what have I learned about this postcode? I know that most people rent units and semis and catch public transport, and a large proportion are single and may be from overseas. Now that I have a picture of what my potential tenant looks like, I can start working out what kind of property I need; that is, a two-bedroom unit or semi without a carport or garage that is within walking distance of either the university or public transport. In addition, I may even consider a furnished property geared towards overseas students as I could then charge a higher rent and convert a property within my price range into a rental property that offers higher than normal yield for that area. You may be wondering why I would look at a two-bedroom unit for a single person. Well, often people who want to live alone also want an office. Also, I am minimising my risk by having a two-bedroom unit as I not only cater for my target market – that is, people living alone – but also couples, flatmates or even a family with one child. Remember plan B: always anticipate the potential risk and minimise it. All the information is there; you just need to interpret it. Example: At one stage after moving from Melbourne to Sydney, when both my husband and I were looking at buying a property, we had our list of three suburbs each. Unfortunately our buying criteria and purchase prices differed. So on Saturdays we had what amounted to a military campaign of inspections involving flying across the Sydney Harbour Bridge and paying its tolls at least five times to cover Maroubra, Manly, Mosman, Newtown, Balmain and Bondi. We still managed to see more than 10 properties a day but as you can imagine we only spent on average seven minutes at each property. (Incidentally, that’s about the same amount of time a bank-organised valuer will spend at your property.) Once you know what you’re looking for… well, you know what you’re looking for. With five minutes for some inspections you can imagine how important a checklist becomes for recording what you see, even as a mental trigger of what to look for.
Knowledge is power and it is the foundation of sound decision-making. For instance, if you’re looking at a property to turn over and sell quickly in an area where most people rent, you’re probably barking up the wrong tree. Remember that more than 65% of properties are owner occupied so if you are looking at an area that has a high proportion of renters you may find that a quick flip can be difficult if you are targeting investors, as you have already extracted the value. For a flipping strategy you may be better to target areas with higher proportions of owner occupiers who want the dream house now. Conversely, this might be an area where other investors want to buy, so knowing who is your future potential buyer is also important. That way, as a fallback plan, if you need to sell quickly you want your property to be attractive to the largest market available. If the area has a high proportion of renters, then investors will also be interested in buying your property. The key is to make the property attractive to the largest proportion of the market possible. If you’re looking for units in areas where there is a high percentage of families, you may end up with empty units. Not a good idea. Minimise your risk by ensuring your property matches what the majority require in a property. For instance, if the suburb has a high proportion of single people, don’t buy a one-bedroom unit as only single people, first home buyers or couples can live there. Buy a two-bedroom unit so you also get the additional market of the young family, the shared accommodation and maybe even downgraders (that is, retiring baby boomers). So, getting to know the people who live in the suburbs you’re considering will help you narrow down your search, sometimes right down to the street you want to buy on. The best way to make solid investment decisions is to get to know the suburbs or towns you’ve selected. We’re really narrowing things down. Targeting areas that are likely to soon suffer economic downturns is not a good decision, but neither is following the crowd and purchasing in an area just because everyone else is. Make sure that the suburbs you’re considering are going to grow in population, in demand, economically, and so on. Do the research. This leads us to every property investor’s best friend: the internet. You will be able to find 80% of what you want to know about a suburb on the internet and you don’t have to pay a fortune for it either. Over the past 10 years, I have collated more than 30 websites that I use to gather information and assess an area. This enables me to drill down and find a specific property. All of these sites are free. Toolbox tip #1: People will interpret information differently. At the end of the day the numbers don’t lie. Bernard Salt from KPMG is one of Australia’s most well known commentators on demographics. In fact, he has written many books on the topic. To learn how to start reading the numbers check out some of his articles. He has a number of best-selling books and writes for The Australian. Toolbox tip #2: Sign up for Google Alerts for your suburbs and towns. As soon as there is mention of your area, for instance that a new highway to bypass this town is being built or new train line to connect this suburb is planned, you can be on top of drivers of population and capital growth. Highway bypasses have killed off many small towns throughout Australia. Toolbox tip #3: Be sure to vary your property locations as your portfolio increases. This will give you exposure to different stages of the market. For example, as Perth goes up in value, the Sydney market may be decreasing in value, so you may be able to access equity from the Perth property to grow your portfolio. But remember to be aware of your properties being cross-collateralised as this can prevent you from being able to access any capital gain. If you are cross-collateralised, lenders will look at your entire asset value, so if your Sydney property has a lower value and your Perth property a higher value, the overall value may not have changed and the lender sees no new equity for you to access. However, if the properties are viewed separately you could access the equity from the Perth property without the value of the Sydney property ever being an issue. Toolbox tip #4: When searching on a real estate sales site, enter a price range 10 to 20% above and below your median price as you may be able to negotiate down or there may be some already heavily reduced properties that meet your criteria. Hence, if your median is $300 000, search for properties priced between $240,000 and $360,000. If you have decided on a renovation-and-sell strategy, you may have to buy closer to the $200,000 price mark (when you back-calculate your numbers) to make a decent return. (Check out part III of the book if this is what you are planning to do.)
This is an extract from Jane Slack-Smith's new book <a href="https://yourpropertysuccess.com.au/">Your Property Success with Renovation</a> published by John Wiley &amp; Sons.
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Why you need to do your demographic research before writing that buyer's cheque

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<img height="225" width="400" src="/images/stories/2012/albertcres.jpg" alt="albertcres">
The May 2012 auction of an Alfred Crescent, Fitzroy North (pictured above) terrace, Walkley was one of Melbourne’s biggest auctions of the year.
A massive crowd looked on as two buyers went head to head for almost an hour, until the hammer fell at $4.2 million.
On Saturday, the 1888 Victorian Italianate Boom Style property right next door, Mygunyah, (pictured below) was auctioned.
{yoogallery src=[images/stories/2012/07/alfredcres41]}
Although the houses facing Edinburgh Gardens were different, the block of land was a similar 740 square metres, noted Mark Armstrong of <a rel="nofollow" href="https://www.propertytycoon.com.au/">Property Tycoon</a>.
Bidding opened at $2.8 million.
The Nelson Alexander listing agency had indicated buyer interest was around $3 million to $3.4 million.
There were three – or one report said four – bidders, and after it was announced in the market at $3.5 million, it was sold for a soft $3.53 million.


The price is not disclosed by Nelson Alexander in the official REIV results, a futile exercise given almost every buyers agent in Melbourne was in attendance.
There were six registered bidders when Strathfield's priciest listing went to weekend auction, and no secrecy.
The auctioneer Bob Jury called it on the market at $2,170,000 before a crowd of about 40-plus attendees. The Newtown Road offering sold for $2.21 million through Georges Ellis &amp; Co Real Estate.
"Strathfield seems to be holding well. There isn't much on the market which is frustrating buyers; creating urgency not to miss out on auction day," selling agent Joseph Georges said.
"There's still plenty of buyers above $2 million looking for the right family home," he said.
There was a three-level modern <a href="https://www.propertyobserver.com.au/news/strathfield-sneaks-in-to-secure-highest-sale-in-the-top-10-rp-data-weekly-sales-list/2012072455709">Strathfield residence</a> that topped the prior week's sales at $2,525,000.
Sydney's overall result was 60.5%, according to Australian Property Monitors, compared with the revised 59.8% of the prior weekend. The provisional Saturday night rate had been 63.6%, so quite a revision.
It was 53% on the same weekend last July.
The Real Estate Institute of Victoria reported a clearance rate of 62% the same as the 62% last weekend and 57% the same weekend last year.
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Fitzroy North tops sales, with Strathfield seizing Sydney's highest result for second consecutive weekend

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Shares in Perth-based residential developer Finbar has been placed in a trading halt ahead of an announcement later today about a new project.
In a statement to the ASX, Finbar said it requested the trading halt ahead of an announcement about a “substantial new project opportunity”.
The announcement is expected to be made before close of business today.
Aside from its Perth residential projects, Finbar is also  building apartments in Karratha, in the mining-rich Pilbara region.
In <a href="https://www.propertyobserver.com.au/industry-news/finbar-upgrades-profit-guidance-following-strong-east-perth-apartment-sales/2012062055202">June Finbar upgraded its profit forecast for the 2012 financial year ending June 30</a> following strong apartment sales in two of its Perth projects.
The developer is anticipating full-year profit after tax of approximately $28 million, an increase of $4 million from previous guidance.
Finbar will pay a final dividend of 5.5¢, fully franked, to take the full-year payout up 6% to 9¢.
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Finbar shares in trading halt ahead of new project announcement

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{yoogallery src=[images/stories/august16mcivor]}

The former luxury Cronin Island home of Gold Coast business identity Mark McIvor is back up for sale.
An <a href="https://www.domain.com.au/Property/For-Sale/House/QLD/Surfers-Paradise/?adid=2009891075">August 26 auction </a>of the empty house has been scheduled by Coldwell Banker GC Property Group agent Alex Caraco.
It last sold in intriguing circumstances post auction when the Alex Popov-designed <a href="/news">Cronin Island Gold Coast home of McIvor and his wife, Stacey, sold to Fulton Transport boss Gary Fulton</a> company, Vitago Pty Ltd.
On settlement, Property Observer reported its official paperwork showed a $6.75 million sale price which stumped seasoned Gold Coast property experts, who'd imagined something closer to its $4.4 million September 2011 auction passed in highest offer.
The lenders on the purchase, the Commonwealth Bank, commenced Queensland Supreme Court proceedings against Fulton and Vitago in May.
The Commonwealth Bank lent Vitago $4.758 million in first-mortgage funding on the Cronin Island house.
Its court action sought possession of the property and repayment of the mortgage, plus interest.
 
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Mark McIvor's former Cronin Island, Gold Coast property back up for auction

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<img width="400" height="225" src="/images/stories/2012/haroldParkv2.gif" alt="haroldParkv2">
Mirvac has obtained planning approval for its $1.1 billion residential development at Harold Park, in the inner-Sydney suburb of Glebe, where already 180 sales have been secured in the project.
The approval was by the Central Sydney Planning Committee (CSPC) which gave the green light to the redevelopment of the former Harold Park paceway following nearly three years of planning studies and assessment.
<img width="402" height="222" src="/images/stories/2012/Harold_Park_render_08_2_bedroom-living_06_LR.jpg" alt="Harold_Park_render_08_2_bedroom-living_06_LR">
More than 180 of the 296 apartments and terraces in the first residential Precinct have been sold off-the-plan.
First home buyers have made up 30% of the off-the-plan buyers to date with an average age of 34 years.
"They're buying anything from a studio to a $1.5 million terrace," Mirvac's development apartments chief John Carfi says.
The developer is now looking forward to pushing ahead and delivering Harold Park, he says. 
<img width="401" height="334" src="/images/stories/2012/Harold_Park_terrace_interior_07_HR.jpg" alt="Harold_Park_terrace_interior_07_HR">
The announcement follows earlier approval from the City of Sydney in June for remediation, infrastructure and services diversions to the site.
“It is one of the most significant residential urban renewal projects in decades being strategically located close to the Sydney CBD, public transport, shopping villages, schools, universities and healthcare facilities.”
“There is no question that New South Wales has an urgent need for more housing,” said Mr Carfi.
<img width="402" height="235" src="/images/stories/2012/Harold_Park_St_1_render_06_3_bedroom-living-01_LR.jpg" alt="Harold_Park_St_1_render_06_3_bedroom-living-01_LR">
“We are in a position to provide a solution to that need, whilst establishing a benchmark for sustainable residential development.”
“Harold Park will open up a site that has been untouched for over 100 years,” said Mr Carfi.
"Our plans for this historic redevelopment include the dedication of over 35% of the 38,000 square metre site for the creation of parkland, allowing the City of Sydney to fulfil its vision of a continuous green belt linking the suburbs of Glebe, Annandale and Forest Lodge to the harbour foreshore," Carfi says.
Mirvac will also dedicate land to the City of Sydney for the development of affordable and seniors housing.
Mr Carfi says Harold Park aims to incorporate environmental and social sustainability initiatives.
Sustainability initiatives include 35% of the site being dedicated to public open space, new pedestrian and cycleway connections, water harvesting, stormwater filtration and retention, green roofs, the use of recyclable materials and energy efficient appliances.
"Harold Park will not only exceed the State Government’s Building Sustainability Index (BASIX) requirements by 25%, but open up a site that has been gated and locked away for over 100 years," he says.
He says Harold Park has the highest proportion of open space of any urban renewal development in the City of Sydney, and at 1.25:1, the lowest density.
"There is no question that New South Wales has an urgent need for more housing," says Carfi. "We are in a position to provide a solution to that need while establishing a new benchmark for sustainable residential development."
"It is one of the most significant residential urban renewal projects in decades being strategically located in close proximity to the Sydney CBD, public transport, schools, universities and healthcare facilities."
Since its marketing launch in November last year, over 180 apartments and terraces of the 296 in the first residential precinct have been sold off-the-plan, with the first stage expected to be completed in 2014.
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Mirvac gets planning go-ahead on Harold Park, where 30% of sales have been to first home buyers

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<img width="400" height="225" alt="6204626854_b5d47fa8dd" src="/images/stories/2012/6204626854_b5d47fa8dd.gif">Aussie know-how helped build the London Olympic village with Westfield, Lend Lease and people like the former Lend Lease head David Higgins investing their expertise and their dollars into the more significant assets at the London Olympic Park.
CBRE’s head of East London, Matthew Black, has worked on the London Olympics project since 2002 and says the property expertise and influence of Australians is unsurpassed.
''Westfield built the biggest mall under one roof in Europe at the height of the worse recession in the UK for many decades and the crowds stream in daily,'' Black told Fairfax.
<img width="400" height="225" alt="6176523160_b3d75d0ac1" src="/images/stories/2012/6176523160_b3d75d0ac1.gif">The 17.6 hectare Westfield Stratford City is so big that it has been issued with its own postcode.
The £1.45 billion shopping centre opened in September and is expected to earn £1 billion in its first year.
That figure will no doubt be bolstered by its proximity to the Olympic complex. Of the 10 million people expected to attend the games, seven million will transit through the shopping centre, walking through “retail avenues” to attend the events.
The centre is part of the Stratford City redevelopment which is being undertaken predominately by Westfield.
The £4 billion development covers 73 hectares and is due to be built over the next 15 years. As well as commercial developments like the shopping centre, the development also includes urban districts to house 11,000 residents and 30,000 workers. And it includes the Olympic athletes village.
Australian design firm, Norman, Disney &amp; Young designed the lighting strategy for the whole development.
Matthew Black says Australians like David Higgins brought unparalleled expertise to the Olympic Development Authority.
"Having David Higgins at the helm of the Olympic Development Authority also brought knowledge that many here did not have. He and Sebastian Coe have brought the area together seamlessly.''
Coe, the London organising committee boss, says he sees the Sydney Olympics as the gold standard, and is drawing on the expertise of Australians who worked on those games.
"John Coates (Australian Olympic Committee president and IOC executive member) is a wise old bird and I always remember him saying to me early on in this journey that if you get the athlete-generated atmosphere at the stadiums then the rest sort of happens," he told News Limited.
"We have been really conscious of that. If you take as much of the operational difficulty as possible out of their lives you've got a good chance of them competing well."
<img width="400" height="225" alt="7545623154_9c657fafa5" src="/images/stories/2012/7545623154_9c657fafa5.gif">
Without expertise from Sydney, he said he might have spent three years "sitting in front of Parliamentary select committees explaining why I had spent 30 million pounds on a bid that finished second".
Australian developers Lend Lease were chosen as the developers for the London Olympic village. They built the complex which has since sold to the Qatari royal family, UK developer Delancey and Triathlon Homes.
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