<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

<main data-perf-region="main">
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>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

<html><body>
Breakfast radio star Jackie O and her husband Lee Henderson have listed their cosy farmhouse with breathtaking views over Kangaroo Valley.
With wide wrap-around verandas, Glen Athan is marketed as being one of the NSW South Coast's most stylish country properties.
It's been their retreat since the land was bought in 2005 and<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/2day-fm-s-jackie-o-buys-family-home-in-vaucluse-with-five-bedrooms/2012062255231"> its listing follows their recent Vaucluse purchase.</a>
It's been marketed through Shaine Hilaire at Ray White Berry, who has issued four contracts after 15 inspections over the past month.
Blending Australian homestead heritage design and contemporary luxuries, the six-year-old house comes with wide-board flooring, timber-lined walls and ceilings, South Australian slate hearths and 150-year-old convict-hewn sandstone. There are four bedrooms and three bathrooms - all with underfloor heating. The master bedroom comes with open fire, ensuite bathroom and private wardrobe area.
It has a bespoke kitchen featuring marble benchtops and walk-in pantry; a scullery; and a laundry and mud room. There’s also a library with custom joinery and fireplace, a large open study area and a separate home office.
The 42-hectare retreat comes with a “world-class” resort-style swimming pool with district views. There’s an entertaining courtyard nearer the house with a pizza oven facility.
Its one of the 100 properties within the unspoilt Wattamolla Valley, where prices in recent times have ranged upwards of $3 million, albeit for Gladstone Estate, the district’s 203-hectare holding, which sold last year with development approval for nine small lifestyle blocks and four large parcels over 40 hectares.
The farm, through which Ryder’s Creek flows, comes with a fully irrigated kitchen herb garden along with a 90,000-litre underground rainwater tank plus 10,000-litre spring-fed tank for garden watering. There’s a fox-proofed chook shed and fully fenced paddocks.  
</body></html>

jchancellor-FAypfDUnLy

Jackie O lists cosy Kangaroo Valley farmhouse after Vaucluse acquisition 

<html><body>
Tokyo-based Sony Bank, a division of financial services group Sony Financial Holdings, has won APRA approval to undertake a feasibility study about setting up an online mortgage lending operation in Australia.
Sony Bank operates as a low-cost branchless bank in Japan.
The bank plans to use deposits raised in Japan to fund its mortgage lending in Australia, according to a report in The Australian Financial Review.
Yellow Brick Road executive chairman Mark Bouris – who took on the major banks with Wizard Home Loans in the late 1990s – says the Australian banking sector appeals to overseas banks because of attractive profit margins and low mortgage arrears.
Foreign-owned online banks have already had success in Australia, with ING Direct – a division of Dutch-owned financial services giant ING – launching in Australia in 1999 and growing to be the country’s fifth biggest lender with a mortgage book in excess of $38 billion.
In 2008 NAB launched low-cost online offering Ubank, which currently has one of the lowest advertised variable mortgage rate at 5.62% for those refinancing their mortgage.
Other foreign-owned banks with a mortgage foothold in Australia include Citigroup ($8 billion loan book) and HSBC Bank Australia ($7.5 billion)
The big four banks – NAB, ANZ, Commonwealth Bank and Westpac – have more than 90% of the mortgage market and cemented their control of mortgage lending by opportunistically buying up some of their smaller rivals in the wake of the GFC.
Japanese banks are targeting overseas markets for growth due to the contracting lending market in Japan.
Japan’s three biggest banks – Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Financial Group and the Mizuho Group – already provide corporate loans to companies in Australia.
</body></html>

lschlesinger-FZcF9M3vE6

Tokyo-based Sony Bank investigating online mortgage lending in Australia

<html><body>
The Block auctions in 2012 are now over, and we congratulate all the contestants on their big financial windfalls. From Dale and Sophie ($355,000), Mike and Andrew ($434,000), Dani and Dan ($448,000) and the overall winners Brad and Lara ($606,000), the total combined profit was $1,843,000, working out to be an average of $466,000 each.
You would be disappointed if you were last year’s contestants, who combined won less than any of this year’s contestants, with total winnings of only $225,000.  That’s a total difference of $1,618,000 or 719% increase. No wonder this year’s contestants were crying with joy! Unfortunately there were no bargains to be had this year, unlike our purchase of Polly and Waz’s house last year for $858,000 for one of our investor clients.  With a fantastic rental of $995 per week and an extra $30,000 per annum in depreciation, this represented great buying.
I and other real estate professionals believed that Brad and Lara’s house would set the benchmark, as it was estimated to be worth at least $200,000 more than the other homes. This was based on the land size, which was 21% larger (158 square metres) and 44% wider (7.91 metres). I estimated that it would sell for $1,510,000 based on many recent comparable sales in the area. One recent example is an inferior townhouse at 3/297 Dorcas Street, South Melbourne (land size 113 square metres, 46 square metres smaller in land, two metres narrower frontage), which sold for $1,500,000 two weekends ago.
We were bidding for a female home buyer for Brad and Lara’s property with a budget of $1,380,000 and unfortunately were blown away by at least six bidders and an eventual sale price of $1,620,000. Our client was disappointed we were $240,000 short as she had already missed out on two properties on her own in the South Melbourne area. Karl Gillion from Buxton Real Estate did a textbook auction and made sure he got every last dollar out of the remaining buyers.
My predictions were then revised upwards to around $1.4 million for the remaining properties. We had an investor client who was keen to snag a bargain (around the $1,050,000 mark) for the next two auctions, but we didn’t even get a bid in with six to seven bidders taking Dan and Dani’s property to $1.44 million and Dale and Sophie’s to $1.33 million.
The last auction was the most talked about with the branded T-shirt guy (not going to give them any more publicity!) who had three other staff at the auctions in branded T-shirts and was bidding in ridiculous dollar and cents amounts. I was bidding for another investor who was attracted to the quality of Mike and Andrew’s property and in particular, their backyard. She was attracted to the potential rental return (about $1,100 to $1,200 per week fully furnished plus about $700 to $800 per week in tax depreciation) totalling around $1,800 to $2,000 per week or around 7% gross return.
I have bid at over a thousand auctions over the last 17 years and as a buyers’ advocate / buyers’ agent, I have attended many other auctions each weekend and I have never been involved in an auction as bizarre as this where a bidder bids in uneven increments, including cents with every bid. The auctioneer, Andrew Stuart of Hocking Stuart, did a good job trying to work out his bids, but I am surprised he accepted the uneven bids. In a normal auction, the auctioneer would round the amount up and only drop the bidding in set increments.  The backlash to this crazy bidding has started an online frenzy of annoyed viewers.
We stuck to our client’s pre-budget limit of $1.4, which would have delivered a healthy return of approximately 7%, and it was awarded to Mr T-shirt man for $1,401,001.01.
 
<hr class="system-pagebreak">
 
What The Block 2012 result means for the property market
This year’s market conditions have improved, with five interest rate cuts starting to flow through to the marketplace and investors coming back into the market.
These properties were perceived as superior to last year’s due to their South Melbourne location on the border of Albert Park and the third-level “wow factor” of uninterrupted city views.
Melbourne’s property market is segmented, and you can’t generalise about all properties and put them in one basket. Renovated, well-located period houses are always in more demand than other property types, and these properties had all the “bells and whistles” apart from the compromises surrounding off-street parking and being on a through road.
The properties were purchased on average for $1,445,000, well above South Melbourne’s median ($967,000) and Albert Park’s median (1.29 million), and they were superior to many median price single-level houses in the area. I estimated that 405 (Brad and Lara) would sell for $1.51 million and the others between $1.3 million and $1.35 million. Based on this, they all sold for around $100,000 more than estimated market value.
History was made with online bidding used for the first time at a Melbourne auction. The flurry of live bids meant that only two online bids were called, and they were both $200,000 to $250,000 below where the live bids were at. I don’t think this is the way of the future for the Melbourne property market, as the online bidding cannot keep up with the pace of a live auction. I believe the buyers would have been better placed to use a buyers’ agent / buyers’ advocate to do the bidding for them or use an agent to take phone bids.
Reserves were set ridiculously low (at least $200,000 to $300,000 below most agents’ estimates) and much lower in comparison to last year’s reserves. No vendor bids were needed at any of the auctions.
Executive producer of Channel 9 Julian Cress got the mix right with low reserves and “onsite” auctions rather than the town hall auction room atmosphere last year.
There was a mix of home buyers and investors this year, whereas last year’s properties attracted mainly investors.
Consumer sentiment has improved considerably since last year, and l would doubt these properties would have achieved these prices in last year’s market, if auctioned at the same time as the Richmond auctions.
In summary our second Block auction experience was very different to our first, and our clients were disappointed to miss out, although they understand how important it is to stick to their set budgets.
The show continues to have a successful formula and attracted great support from millions of viewers. We enjoyed watching the series and enjoyed being a part of the experience, and it’s great to see some positive headlines in the press regarding the Melbourne property market this time.  The great Australian dream of owning a beautiful house continues to appeal to viewers and this year resulted in great results for Channel 9, the contestants and the successful purchasers.
Frank Valentic is managing director of <a href="https://www.advantageproperty.com.au/" target="_blank">Advantage Property Consulting.</a><a href="https://www.advantageproperty.com.au/" target="_blank"> </a>
<div id="_mcePaste" class="mcePaste" style="position: absolute; left: -10000px; top: 847px; width: 1px; height: 1px; overflow: hidden;">
The Block auctions in 2012 are now over, and we congratulate all the contestants on their big financial windfalls. From Dale and Sophie ($355,000), Mike and Andrew ($434,000), Dani and Dan ($448,000) and the overall winners Brad and Lara ($606,000), the total combined profit was $1,843,000, working out to be an average of $466,000 each.

You would be disappointed if you were last year’s contestants, who combined won less than any of this year’s contestants, with total winnings of only $225,000.  That’s a total difference of $1,618,000 or 719% increase. No wonder this year’s contestants were crying with joy! Unfortunately there were no bargains to be had this year, unlike our purchase of Polly and Waz’s house last year for $858,000 for one of our investor clients.  With a fantastic rental of $995 per week and an extra $30,000 per annum in depreciation, this represented great buying.

 I and other real estate professionals believed that Brad and Lara’s house would set the benchmark, as it was estimated to be worth at least $200,000 more than the other homes. This was based on the land size, which was 21% larger (158 square metres) and 44% wider (7.91 metres). I estimated that it would sell for $1,510,000 based on many recent comparable sales in the area. One recent example is an inferior townhouse at 3/297 Dorcas Street, South Melbourne (land size 113 square metres, 46 square metres smaller in land, two metres narrower frontage), which sold for $1,500,000 two weekends ago.  

We were bidding for a female home buyer for Brad and Lara’s property with a budget of $1,380,000 and unfortunately were blown away by at least six bidders and an eventual sale price of $1,620,000. Our client was disappointed we were $240,000 short as she had already missed out on two properties on her own in the South Melbourne area. Karl Gillion from Buxton Real Estate did a textbook auction and made sure he got every last dollar out of the remaining buyers.

My predictions were then revised upwards to around $1.4 million for the remaining properties. We had an investor client who was keen to snag a bargain (around the $1,050,000 mark) for the next two auctions, but we didn’t even get a bid in with six to seven bidders taking Dan and Dani’s property to $1.44 million and Dale and Sophie’s to $1.33 million.

The last auction was the most talked about with the branded T-shirt guy (not going to give them any more publicity!) who had three other staff at the auctions in branded T-shirts and was bidding in ridiculous dollar and cents amounts. I was bidding for another investor who was attracted to the quality of Mike and Andrew’s property and in particular, their backyard. She was attracted to the potential rental return (about $1,100 to $1,200 per week fully furnished plus about $700 to $800 per week in tax depreciation) totalling around $1,800 to $2,000 per week or around 7% gross return.

I have bid at over a thousand auctions over the last 17 years and as a buyers’ advocate / buyers’ agent, I have attended many other auctions each weekend and I have never been involved in an auction as bizarre as this where a bidder bids in uneven increments, including cents with every bid. The auctioneer, Andrew Stuart of Hocking Stuart, did a good job trying to work out his bids, but I am surprised he accepted the uneven bids. In a normal auction, the auctioneer would round the amount up and only drop the bidding in set increments.  The backlash to this crazy bidding has started an online frenzy of annoyed viewers.  

We stuck to our client’s pre-budget limit of $1.4, which would have delivered a healthy return of approximately 7%, and it was awarded to Mr T-shirt man for $1,401,001.01

What The Block 2012 result means for the property market

This year’s market conditions have improved, with five interest rate cuts starting to flow through to the marketplace and investors coming back into the market.

These properties were perceived as superior to last year’s due to their South Melbourne location on the border of Albert Park and the third-level “wow factor” of uninterrupted city views.

Melbourne’s property market is segmented, and you can’t generalise about all properties and put them in one basket. Renovated, well-located period houses are always in more demand than other property types, and these properties had all the “bells and whistles” apart from the compromises surrounding off-street parking and being on a through road.

The properties were purchased on average for $1,445,000, well above South Melbourne’s median ($967,000) and Albert Park’s median (1.29 million), and they were superior to many median price single-level houses in the area. I estimated that 405 (Brad and Lara) would sell for $1.51 million and the others between $1.3 million and $1.35 million. Based on this, they all sold for around $100,000 more than estimated market value.  

History was made with online bidding used for the first time at a Melbourne auction. The flurry of live bids meant that only two online bids were called, and they were both $200,000 to $250,000 below where the live bids were at. I don’t think this is the way of the future for the Melbourne property market, as the online bidding cannot keep up with the pace of a live auction. I believe the buyers would have been better placed to use a buyers’ agent / buyers’ advocate to do the bidding for them or use an agent to take phone bids.

Reserves were set ridiculously low (at least $200,000 to $300,000 below most agents’ estimates) and much lower in comparison to last year’s reserves. No vendor bids were needed at any of the auctions.

Executive producer of Channel 9 Julian Cress got the mix right with low reserves and “onsite” auctions rather than the town hall auction room atmosphere last year.

There was a mix of home buyers and investors this year, whereas last year’s properties attracted mainly investors.

Consumer sentiment has improved considerably since last year, and l would doubt these properties would have achieved these prices in last year’s market, if auctioned at the same time as the Richmond auctions.

In summary our second Block auction experience was very different to our first, and our clients were disappointed to miss out, although they understand how important it is to stick to their set budgets.

The show continues to have a successful formula and attracted great support from millions of viewers. We enjoyed watching the series and enjoyed being a part of the experience, and it’s great to see some positive headlines in the press regarding the Melbourne property market this time.  The great Australian dream of owning a beautiful house continues to appeal to viewers and this year resulted in great results for Channel 9, the contestants and the successful purchasers.

</div>
</body></html>

fvalentic-kJt4iZ5jDx

The Block 2012 properties sold for around $100,000 above estimates, reflecting improved consumer sentiment from last year: Frank Valentic

<html><body>
You can read all the statistics and analyse as much data as you like, but there’s no getting away from the fact that Melbourne’s marketplace is a “mixed bag”.  One set of stats will indicate a market upturn (RP Data, for example, which has recorded a 1% increase over the month of June) and another will indicate our market is still in the doldrums with clearance rates dwindling below that of the previous three years.  However, for home buyers, once they find their “ideal” house, stats go out the window and it all depends on the property.
I’d predicted a repeat of last year’s finale disappointment for The Block 2012 – after all, one place the stats all agree is on the current malaise in the million-dollar-plus market.  All agents had conveyed there was active interest in the South Melbourne terraces, however when I attended on the day, I had little conception they’d be such a high level of genuine interest. A similar number registered to last year, however unlike last year, clearly many weren’t there just to get their faces on camera.
Unlike shares, each property has to be priced on its own idiosyncrasies.  Estimating the selling price employs a number of factors, predominant of which is buyer demand. Despite the figures still indicating we have a large amount of stock languishing on the market, those numbers are being boosted by high-rise accommodation or homes in the outer suburbs – areas and properties that only attract marginal buyer interest.
Arguably, there’s not a lot for the average home buyer to choose from in the inner- and middle-ring suburbs, therefore if you do find something of quality – assuming vendor expectation is comparable to market conditions – the level of demand will be the primary indicator of the eventual selling price.  With this in mind, the first key to the success of this year’s auctions lay in the reserves, which, – including Brad and Lara’s property – had been set “under” assessed market value. Obviously Channel 9 was hedging its bets against a repeat of last year’s result
Like every other bidder attending the event, I queued up to retrieve my bidding card and conversed with others buyers who were participating on the day.  Many commented that they hadn’t assessed the contract prior to attending.  Ask conveyancers or solicitors, and they’ll confirm most contracts hit their desk after an unconditional offer has been entered into.  With so little due dilligence taken with the legal documentation, it makes you wonder how much was done in assessing reasonable market value?  The numbers registering were meant to be around 20 – however it turned out to be closer to a cosy 60.
Brad and Lara’s terrace at 405 Dorcas Street was the winner, selling for $1,629,000 with a profit of $506,000 on reserve.  The property had 3 bedrooms, 2 bathrooms, but no off street parking. The land size was the largest of the four – approximately 158 square metres.  A search through comparable sales in South Melbourne featuring the same number of bedrooms and bathrooms of a similar quality situated on roughly the same land size, and you’d be hard pressed to justify a price in excess of 1.3 million.  Furthermore, the best comparables are arguably in superior “pockets” to Dorcas Street, which carries a fair bit of traffic.
It’s yet to be seen if the properties were purchased for investment – if so, I’d suggest they’ll be a long wait until they gain on the capital outlay.  Stamp duty rates alone push the price for 405 in excess of 1.7 million.  For the same price, you could purchase a similar property in a better pocket on a larger land size.
 
<hr class="system-pagebreak">
 
Leaving aside individual home buyer preference, which can never be accounted for conclusively, the other three-bedroom terraces, 403 and 401, had a slightly smaller land size, giving the renovators a greater overall challenge in attracting a similar level of demand. However all achieved prices in excess of comparable value – even when you take the additional furniture into account.
The property at 407 Dorcas Street was the only four-bedroom terrace, and it “flew” at auction.  It was hard to count the number of bidders due to attempts at online bidding made available by Channel 9 for those not brave enough to openly raise a hand.  However, the online attempts could not keep pace with what was happening “in house”, with bids coming in from every corner and a price that exceeded the reserve on the opening bid.
The four-bedroom house arguably had the best floorplan and presented the best overall value for the money.  However, as I stressed previously, beauty is in the eye of the home buyer – especially in highly renovated homes.
Had one sold without the others, it would be arguable whether a valuer could justify the cost – thankfully all four achieved a consistent result.  Therefore each has three immediate under the hammer comparable sales for a valuer to work from.  But for anyone thinking it’s easy to “flip” a house, covering costs plus profit, the quote of the night must go to the Buxton auctioneer who commented toward the end of the bidding on Brad and Lara’s terrace: “I know what they spent the property, and we’re still under cost.” His comment didn’t faze the buyers, they still paid far in excess of what most would assess to be comparable market value.
As for Mr “Energy Watch” and his erratic bidding?  Well look at it this way.  He had 15 minutes of free advertising on the largest-rating TV show in Australia.  The cost of this alone would have been in excess of $1 million.  “Energy Watch” was not only trending on Twitter, it hit the headlines on every national media portal following the show.  Take all this into account and I’d suggest he got cheap advertising and a “free” house thrown in on the way! A house he could probably still sell to the under bidder should he decide to do so.
The room was laughing at him from the opening bid onwards and auctioneers, who are generally used to receiving round numbers, were somewhat stumped in their bemusement.  At 407, his initial bid (already past reserve) went unheard at the back of the room.  Therefore the opening number was followed with a bid of $920,000 from an online participant.  Once again laughter predominated. He obviously felt his unique approach was enough to faze the other participants and in this matter, his inexperience shows.  Furthermore, the online bidding was always one step behind – failing in every respect to compete with the pace. There’s a long way to go before this approach becomes the norm.
All in all, the success of this year’s finale compared with last year, I’d put down to a few factors.
Firstly – the properties were not situated opposite a multi-storey car park, supermarket and bottle shop.
Secondly – the auctions took place during the day “in house”. This meant the co-ordination between each was better managed.  Cameras moved from property to property, saving a multitude of bidders the pain of sitting through all four auctions, which last year took in excess of four hours to complete.
Thirdly – South Melbourne is a different location in every respect to Richmond.  Although the terraces were not in the best pocket of the suburb, they were situated walking distance from Melbourne’s CBD and Albert Park Lake, which clearly holds extra desirability to the average home buyer.
Finally – they were better properties!  Offering views (rooftop terrace), thee and four bedrooms, and larger living areas, they therefore attracted a wider buyer demographic.
We can only bow our heads to this year’s series and say “well done” to Channel 9’s The Block – an outstanding and unprecedented result in a downbeat market – and a wonderful success for the contestants who worked so hard to entertain us along the way!
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://ten.com.au/the-circle.htm">The Circle</a>.
</body></html>

catherinecashmore-6LXia3pPQj

The Block 2012 auction success proves that you cannot predict home buyer interest

<html><body>
It was quite a life-changing take-home windfall for The Block 2012 contestants especially against the backdrop of three contestants who pocketed nothing for their 10-week renovating prowess.
Property Observer takes a look back at the prizes the contestants on The Block over the five series have won since the 2003 debut. The overall under the hammer clearance rate stands at 80%. Three contestants got  their winnings following post-auction negotiations.
 
<img src="/images/stories/2012/07/block20123.jpg">
The Block 2012 South Melbourne
1) South Melbourne 2012 Brad and Lara reserve $1,114,000 sold for $1,620,000, prize $506,000 plus $100,000
2) South Melbourne 2012 Dan and Dani reserve $992,000 sold for $1,440,000, prize $448,000
3) South Melbourne 2012 Mike and Andrew reserve $966,000 sold for $1,400,001.01, prize $434,000
4) South Melbourne 2012 Sophie and Dale's reserve $975,000 sold for $1,330,000,  prize $355,000
<img src="/images/stories/2012/07/theblock2010.jpg">
The Block 2010 Vaucluse
5) Vaucluse John and Neisha Pitt reserve $900,000 sold for $1,105,000, prize $205,000 plus $100,000 
<img src="/images/stories/2012/07/theblock2003.jpg">
The Block 2003 Bondi
6) Bondi 2003 Adam and Fiona reserve $595,000 sold for $751,000 prize $156,000 plus $100,000
<img src="/images/stories/2012/07/theblock2004.jpg">
7) Manly Andrew and Jamie  sold for $868,000 $78,000, prize $790,000 plus $100,000
8) Bondi 2003 Kylie and Paul reserve $595,000 sold for $747,000, prize $152,000
<img src="/images/stories/2012/07/block2011.jpg">
The Block 2011 Richmond
 
9) Richmond 2011 Polly and Waz reserve $840,000 sold for $855,000, prize $15,000 plus $100,000
10) Vaucluse Chez and Brenton reserve $880,000 sold p/a $970,000, prize $90,000
11) Vaucluse Erin and Jake reserve $910,00 sold for $997,500, prize $87,500
12) Manly Jason and Kirsten reserve $795,000 sold for $872,000, prize $77,000
 13) Bondi 2003 Gav and Waz reserve $595,000 sold for $670,000, prize $75,000
 14) Richmond 2011 Rod and Tania reserve $850,000 sold p/a $922,000, prize $72,000
15) Bondi 2003 Phil and Amity reserve $595,000 sold for $655,000, prize $60,000
16) Richmond 2011 Josh and Jenna reserve $950,000 sold p/a $1 million, prize $50,000
17) Vaucluse Mark and Duncan reserve $860,000 sold $907,000, prize $47,000
18) Richmond 2011 Amie and Katrina reserve $860,000 sold p/a $860,000, prize $0
19) Manly Richard and Steven reserve $800,000 sold $800,000, prize $0
20) Manly Matt and Jane reserve $795,000 sold $795,000, prize $0
 
Before the 2012 properties went to auction Property Observer took a peek inside the South Melbourne terraces, looking at the <a target="_blank" href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-bedrooms-and-bathrooms/2012062755316">bedrooms and bathrooms</a>, <a target="_blank" href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-exteriors-and-top-floors/2012062755325">outdoor areas and top floors</a>, and <a target="_blank" href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-kitchens-and-dining-rooms/2012062555265">kitchens and dining rooms.</a>
The contestants made internal renovation decisions that showed <a target="_blank" href="https://www.propertyobserver.com.au/auctions/rootop-study-v-bar-four-bedrooms-v-three-dorcas-street-block-floorplans-indicate-the-auction-battlelines/2012060154945">each terrace had a different layout and style.</a>
</body></html>

The Block take-home prizes through history as The Block 2012 contestants collectively pocket $1.74 million above hammer price reserve

<html><body>
Fans of the The Block are long sufferers of the shameless promo and product placement.
But the rather bizarre auction bidding by entrepreneur Danny Wallis triggered an extraordinary Twitter backlash after the finale went to air.
Wallis, accompanied by his Energy Watch T-shirt-wearing brigade having recently bought the company from the administrators, was presumably ambush marketing.
Although it appeared the cameramen were way to easily coaxed into filming them with the show’s producers then putting extensive footage to air.
Old-timers recalled the ambush marketing euphoria that fuelled the auction crescendo of the first Bondi series in 2003, with over-the-top bidding by mobile phone retailer Crazy John’s among those seeking to piggy-back the successful debut of the television series.
Crazy John's Roscoe Street bidding was done by a 2.1-metre-tall Crazy John’s mascot that lent an air of a circus to pavement proceedings.
On the weekend Wallis entered a series of erratically odd bids at more than the one Dorcas Street auction, finally buying Mike and Andrew's house in the last auction for $1,400,001.01. It was the terrace he'd come for, but his bidding bamboozled the crowd, the auctioneer Andrew Stuart, and even himself at one stage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/07/wallis2.jpg">
He'd had a bit of fun at the earlier auctions, although not at 405 Dorcas as Buxton auctioneer Karl Gillion had given his audience strict indications he wouldn't be accepting non-conforming bids.   
It’s actually not a new practice for Wallis to bid in odd auction figures.
Title Tattle recalls in 2001 at Albert Park he secured his investment for $444,300.
And his own Albert Park house cost $626,400 in 1999.
The Wallis consortium of private investors agreed to buy 100% of the former Energy Watch business through a new company named Energy Watch International.
On Twitter last night, comedian Dave Hughes tweeted: "Shouldn't have to look hard to find this week's Tool of the Week? ENERGY WATCH #theblock".
Wallis, who bought the property for his private investment, has indicated to the pedestrian.tv he is planning to set up the house to be available to parents of sick children staying in Melbourne's Royal Children's Hospital.
</body></html>

Danny Wallis, the energetic $1.01 bidderman of the The Block 2012, has odd past auction bidding form: Title Tattle

<html><body>
Mortgage broker AFG recorded a noticeable jump in borrowers refinancing their mortgages in June, though the total number and value of mortgage arranged fell back following a very strong May.
AFG’s loan writers arranged 6,690 mortgages in June worth $2.64 billion, compared with 7,635 in May worth just over $3 billion.
The proportion of borrowers refinancing rose from 35.8% in May to 39.1% in June – almost two in five mortgages – as borrowers took advantage of lower interest rates on offer.
Mark Hewitt, general manager of sales and operations at AFG, says refinancing is currently very strong as borrowers take advantage of a more competitive market to secure a better deal.
AFG recorded that the popularity of fixed-rate home loans has fallen to its lowest point since September last year.
Fixed-rate loans peaked at 25.4% of all home loans arranged in March this year – the highest such level AFG has ever recorded.
Since then, there has been a steady decrease in borrowers looking to fix rates, and in June 16.5% opted for a fixed-rate mortgage.
“It’s significant that, as we begin a new financial year, the vast majority of borrowers are opting not to lock in an interest rate. Most see a period of stable or even softer rates for the foreseeable future,” says Hewitt.
{module What do you intend to do given the current interest rate fluctuations?}
</body></html>

Refinancing borrowers take advantage of competitive market in June: AFG

<html><body>
Hollywood actor Julian McMahon and his two sisters are set to share the $6.25 million sale proceeds of their late mother, Lady (Sonia) McMahon’s Bellevue Hill home.
It sold last week, some three months after the Victoria Road residence was passed in on a $5.9 million auction bid.
The Australian actor and former fashion model has an older sister, Melinda, and a younger sister, Deborah.
Lady McMahon, widow of the former prime minister Sir William McMahon, was 77 when she died in April 2010.
Last traded for $3 million in 1991, <a href="https://www.propertyobserver.com.au/new-south-wales/nip/tuck-julian-mcmahon-lists-mother-lady-sonias-second-home-title-tattle/2012022153490">the French Riviera-inspired residence</a> was built on its 1,252-square-metre hillside holding.
It was listed through Sally Hampshire of Laing+Simmons Double Bay and Victoria Morish of Di Jones Real Estate.
Her earlier nearby Bellevue Hill family home sold in May last year for $9 million. It was the Drumalbyn Road house where the McMahons lived with their children, Julian, Melinda and Deborah.
Lady McMahon had bought it for $123,000 in 1968, the year Julian McMahon was born.
The estate retains a Palm Beach property on Sydney’s northern beaches.
</body></html>

Julian McMahon and sisters to split $6.25 million proceeds from Lady (Sonia) McMahon’s home sale

<html><body>
John McGrath, the leading estate agent and The Block room judge, says the weekend results were a signal that Australians see quality real estate in prime locations as great assets to own "even in less certain times."
"It appears that there was strong interest from both investors and owner-occupiers, which is what we have been seeing across the board.
"With interest rates lowering and many alternate asset classes far more volatile than bricks and mortar, investors have been re-emerging in larger numbers on the residential property scene over the last few months," McGrath says.
McGrath, a three decade-plus veteran, has been associated with the The Block series since its 2003 inception.
"The Block 2012 auctions were a great success," he says.
"I think the sale prices reflected both the great location of the properties as well as the quality renovation work carried out by the couples.
 "Whilst the show is a great marketing tool for the sale process, we are still talking about real buyers paying hard earned money for the privilege of ownership, so I believe they reflect a genuinely successful renovation and sale process.
"Having buyers write out cheques for such large sums of money is probably the best acid test of any reality television scenario.
 "The bidding was extremely strong at higher than anticipated levels," he says.
He notes the reserves were set by an independent valuer and "as we now all know, were well and truly surpassed." 
"Whilst I don't think this is an indicator that the Melbourne or Australian market is back to its boom levels, I think it is a very real and very clear signal that Australians see quality real estate in prime locations as great assets to own even in less certain times."
The Australian Property Monitors senior economist, Dr Andrew Wilson, suggest the results showed that Melbourne's inner-city housing market was ''alive and well''.
Dr Wilson tweeted before the auction there were "good news for the prospects of the Block ..... South Melbourne May quarter median house price $1,097,500 +15% since February and +7% since November 2011 ."
</body></html>

The Block South Melbourne – prime locations are great assets to own even in less certain times: John McGrath

<html><body>
The Block was once again a hugely popular TV show. Three gruelling months of sleeplessness and renovations paid off handsomely for the four couples who, on the face of it, sold their terraces for substantial profits.
This will no doubt encourage a new generation of property investors to turn their hands to renovation.
But did they really make a commercial profit? The simple answer is no.
If you ran the renovations of The Block as a business and added stamp duty, buying and selling costs, interest for the holding period and payments for labour, there was no commercial profit in doing these renovations. 
But then we know that reality TV is not “real life” don’t we?
The production company behind The Block purchased the four unrenovated terraces in South Melbourne for $3.8 million and would have then spent another $209,000 on stamp duty.
The contestant couples each had a budget of $125,000 to spend made up from cash and vouchers. Add to that the cost of labour, agents’ commission, selling cost and interest on the holding costs during the renovations and over the next few months until settlement and that puts the auction result in a different light.
Are renovations a good strategy? Now don’t get me wrong – I think renos are a great property investment strategy in our current flat real estate markets. They increase the value of your property, make it more appealing to tenants, increase the rents and manufacture depreciation allowances.
But my strategy is to buy, renovate, refinance and hold for the long term. It’s just too hard to make money out of a “buy, renovate and sell” strategy.
So where do you start? And how do you ensure you don't end up over-capitalising, as many investors do?
Here are four rules to follow to make the most of a "renovate-for-profit" property investment:
1) Determine the "right" purchase price. Buying a renovator's delight at the right price is crucial in ensuring you are going to make some money when you finish your refurbishments. If you pay too much for your property at the outset, you will be chasing your tail trying to make the refurbishment profitable.
Start by determining what the end value of the property will be when you have completed all planned works. You can do this by researching the value of similarly renovated properties in your area.
Once you have the end value in mind, draw up an initial project budget to calculate your approximate renovation expenses. You should also consider getting a building and pest inspection on the property so you know exactly what you're getting yourself into, to help plan your budget accordingly.
Now, subtract all your costs from the end value, allow for a profit margin and this will give you a fair idea of how much you can afford to pay for your property in order to make your investment financially viable.
2) Be realistic with your budget The fact is, the job will usually cost more than you expect and take longer than you planned. With today's shortage of good labour, it's hard to get tradespeople to quote on renovation jobs. We've all heard stories of how the budget blew out and the project took weeks longer than expected.
It's never as easy as they make it look on TV. And, funnily enough, the tradespeople never look as good as they do on the shows either. I am yet to encounter a tradesperson wearing neatly pressed overalls!
3) Consider the type of tenant you wish to attract Think about the type of tenants you want to lease your property to and renovate with them in mind. Talk to your property manager to determine the predominant demographic seeking accommodation in the area and plan your renovations accordingly.
4) Don't get personal! Another mistake I see investors make is that they become too personal about the renovation project they are undertaking. Remember, you won’t be living in the place; so putting your own personality into the property is not necessarily a good idea.
If you keep things simple and the decor neutral, to simply make the property liveable and functional, you can't go wrong.
Property renovating is not a licence to print money. It's hard work, if you intend to do it yourself, but it's a great way to increase your rental returns and manufacture capital growth in our flat property markets.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
Property Observer readers<a style="font-size: 14px; text-align: left;" href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows." target="_blank"> can download a free eBook on renovation and reality television</a>. 
</body></html>

Latest Property News

The Eveleigh brings house-like apartments to Broadbeach

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Property News

The Eveleigh brings house-like apartments to Broadbeach

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News