<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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Another of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/receivers-list-mark-mcivors-former-double-bay-residence-teralla/2012050654572">Mark McIvor</a>’s prestige Gold Coast property holdings has been listed under receiver’s instructions.
It’s a 597-square-metre Palm Beach vacant block.
It’s been listed by Ray White Palm Beach agents Jason Taylor and Danny Fritz for June 2 auction.
“Receivers have been appointed to this prime beachfront property with instructions to sell,” their marketing says.
It comes with 10-metre beach frontage between Fourth and Palm Beach avenues.
It last traded in 1991 at $575,000, seemingly as part of a larger lot at the time.
It unsuccessfully went to auction last August through Ray White Mermaid Beach agent Troy Dowker.
 
 
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jchancellor-FAypfDUnLy

Mark McIvor’s Gold Coast Palm Beach vacant block listed by receivers: Title Tattle

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Trevor O’Hoy, the former CEO of brewing giant Foster’s, has returned to the liquor industry by taking the non-executive chairmanship of the privatised pub landlord Redcape Property Fund.

O’Hoy quit Foster’s four years ago when the merger he oversaw with the Southcorp wine group turned problematic.

His 33-year stint in the liquor industry is expected to help the revitalised Redcape, which has undergone a $635 million recapitalisation.

Fairfax Media reported Goldman Sachs (Asia), York Capital and Varde Capital are overhauling the former trust into a pub owner and operator with an acquisitive trail expected through the imminent purchase of 20-plus hotels from collapsed hotel manager NLG.
 
 
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Former Foster’s boss Trevor O’Hoy named non-executive chairman of Redcape Property Fund 

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Hockingstuart has got the jump on the other three South Melbourne auction listings in The Block as the auction date looms for the reality television series. No official marketing is yet underway given the tight rein Channel 9 keep over marketing and publicity.
But hockingstuart has commenced taking buyer interest requests – and uploaded all the so-far revealed photos of the 403 Dorcas Street house interiors of brothers Mike and Andrew.
<img src="/images/stories/hockingstock3.jpg">
There have been four room reveals with nine scheduled, according to hockingstuart.
Four terrace houses situated on the corner of Dorcas Street and Montague Street are the location of this year’s Block hasty renovation challenge.
<img src="/images/stories/hockingstock2.jpg">
The big public open house is scheduled for the 16 June weekend from 10am until 2pm.
About 25,000 fans turned up in Richmond for the first open in last year's series, followed by another 10,000 people on the second day.
Chris Vedelago at The Age’s Private Property has suggested the grand finale auction will be on June 30.
<img src="/images/stories/hockingstock.jpg">
Apparently David Wood of hockingstuart is working for Mike and Andrew. The agency as organised an exclusive inspection competition with Mike and Andrew followed by a $430 dinner at The Point on Albert Park.
Buxton's Karl Gillon is tipped as the agent who will sell the terrace of Brad and Laura. Dani and Dan reputedly picked RT Edgar's Kent Morgan. Kay &amp; Burton's Alex Schiavo is tipped to handle the sale of the terrace of Sophie and Dale.
<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows">For lessons property investors can learn from property reality TV, download our free eBook.</a>
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Hockingstuart very quick out of the block with Channel 9 reality show South Melbourne marketing 

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The good news is that most of the problems we come across have multiple solutions. The question becomes how any solution goes about staunching or eliminating the problem. That is, what actions the solutions involve, and the costs incurred when undertaking them. 
By nature and long-time conditioning, I am a fairly solutions-oriented person. I've spent much of my life engaged in practical and research-based problem-solving, and complex, protracted, multi-party commercial negotiations involving large amounts of capital. 
Through iterative trial and error, I've learnt a lot doing so. There is, frankly, no substitute for experience. Practical intelligence is a much experiential as it is innate. You need both. But most know that. 
One of my reflex responses to the new "crises", "catastrophes", and "end-of-world" scenarios that are canvassed all too often is that there is almost certainly a solution out there in the ether. The solution might be easy, or it might be hard. But there is normally one, if not more than one, answer. It is a matter of methodically going through the rigmarole of identifying what they are, securing the support you need to implement the optimal one, and then vigorously executing it. 
Accordingly, I tend not to get too worked up by new problems. I do get anxious thinking about risk, because I can see a lot of prospective risk. But I find it hard buying-into extreme, end-of-days negativity that ignores the answers. 
So I regularly scratch my head when I watch the wild gyrations in financial markets oscillating from extreme optimism to pessimism as one new global challenge emerges after another. I frequently see the same swings in the views of the people paid to talk about these markets. One minute the Aussie dollar is going to 120 US cents, the next it should be falling like a stone. Another day the resources boom is a locked-in certainty for years to come with inflationary consequences, the next it is all over, red rover. 
Don't get me wrong: I am believer in changing your mind when hard data comes to hand if it is view-altering. But my sense is that many people echo and amplify the schizophrenia, or multiple personalities, projected by financial markets. A concern is, as George Soros wisely noted, that this "reflexivity" can itself influence real-world outcomes. 
I think one reason financial markets tend to "overshoot" so often is because capital at the margin can overweight the observed challenges relative to the expected solutions. This is probably tied to our so-called "asymmetric value functions", for which psychologist Daniel Kahneman was awarded the Nobel Prize in Economics. His work showed us that when making decisions, people seem to weight expected losses more than gains. One might extend this framework to perceived problems (losses) and their remedies (gains). 
In obsessing over problems, I’d argue people neglect the next logical link in the chain: the public-political “reaction function”. That is, our response. By its construction, any democracy is highly geared to searching out solutions to imminent threats (the wrinkle, of course, being that many supposed threats are, in fact, non-threats). The risk is that democracies focus too much on short-term, as opposed to long-term, salves. Nonetheless, this maniacal focus on eliminating problems that are perceived to afflict the majority of people may be a dynamic key to the longevity of democracy as an organising model for societies. 
For years I've argued that we should expect higher volatility in financial markets because of the profound impact the Internet and globalisation are having on investor decision-making. There is a connection to this and Soros's theory of reflexivity, which I have highlighted before. In particular, I believe we are seeing much more reflexivity between the opinions of participants, security prices, and real economies as a function of the Internet. I'd also argue that policymakers sometimes get trapped into compounding this reflexivity. This is why I’ve encouraged the RBA not to over-engineer monetary policy. The RBA should think slowly: it meets monthly and the passage of time is its friend insofar as it yields more information. 
I do wonder how well equipped humanity is to deal with the tight linkages we’ve created between individual economies via the digitalisation of information and its real-time transmission through the internet. Speaking to a senior commentator last week, I said, "It's like the world has contracted a case of attention deficit disorder. Too much low-quality, uncensored information influencing actions too much of the time. Our brains were not built for rationally and instantaneously processing the quantum of data we are given nowadays. We need more time to evolve." 
Right now, I think we need to slow down, dispassionately contemplate our conditions, and work out the best roads to take. Humanity is not facing an existential threat. Life will continue much as it has done in the past. The great thing about the future is that it builds on thousands of years of human progress. Given this, and the commitment of many to further “innovation”, it is likely that our quality of life will continue to improve, albeit on a scale of decades rather than days. 
This brings me to what must now be described as the third chapter in the great European sovereign debt crisis. The only thing I am confident about is that nobody really knows what will happen because there are simply too many complicated and interwoven future paths for the eurozone. I personally find it hard to wrap my mind around. I would be sceptical of anyone expressing a strong opinion on what will occur. A few observations I think are, however, worth reflecting on. 
First, according to reports, 80% of Greeks actually want to remain part of the currency union. This is important: the democratic impetus will be geared towards a non-disruptive compromise. 
Second, an orderly (as opposed to disorderly) Greek exit from the eurozone would likely be disastrous for the currency union and significantly increase the probability of other nations leaving. If you think this through, the likes of the ECB, EC, Germany and France have every incentive to: (1) reach a sustainable solution that allows fiscal transfers/subsidies between nations in order to assist the adjustment process for indebted countries; and (2) in the event Greece does decide to exit, make the costs of departure seem extremely high for the Greeks so as to try and salvage the perceived value of remaining in the eurozone. 
Third, if you assume that you can overcome the intrinsic problems of consensus-based decision-making (a nightmare I have regularly broached here) in the EU, there appear to be practical solutions to a lot of the problems individual nations face. These include the development of a shadow Greek Euro currency, which Deutsche Bank's Torsten Slok calls the "Geuro", Eurobonds and/or eurozone-backed "project bonds" (likely to be announced on Wednesday), an EU-wide bank deposit guarantee, nations agreeing to cede partial authority over fiscal policy, or pay penalties, if they default on commitments, and others smart people have proposed. On the notion of a "Geuro", Deutsche's Slok argues: 
Greece is unlikely to formally leave the euro, nor are the other euro area countries likely to abandon Greece entirely. The path of least resistance could be the stop of financial assistance to the Greek government and the continuation of payments for debt service and the stabilization of the Greek banks in a European “Bad Bank”. In this case, a Greek parallel currency to the euro (which we dub the “Geuro”) could emerge when the government issues IoUs to meet current payment obligations. This would also allow Greece to engineer an exchange rate devaluation without formally exiting EMU. 
My parting thought is that the political will to implement solutions will not galvanise until individual societies fully grasp the costs of a eurozone break up. So prepare yourself for more abseiling. Life is unlikely to get any less volatile.
Christopher Joye is a leading financial economist and a director of <a target="_blank" href="https://www.ybr.com.au/savings/index.cfm">Yellow Brick Road Funds Management</a> and Rismark. The author may have an economic interest in any of the items discussed in this article. These are the author’s personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations.
 
 
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The eurozone crisis will bring more volatile times ahead, but it’s not the end of the world: Christopher Joye

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House prices and home sales in Silicon Valley, the technology hub south of San Francisco, increased strongly in the months leading up to the floating of Facebook shares on the Nasdaq index. 
In the city of Palo Alto, where Facebook has its headquarters, the median price of single-family house has risen 9% in the past year to $1.28 million, according to the Zillow Home Values Index – the biggest jump since 2008.
Click to enlarge
<a href="/images/stories/zillow.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/zillowthumb.gif"></a>
 
This median price equates to about 34,000 Facebook shares at the current price of $38 per share.
According to Zillow, 85% of homes in Palo Alto increased in value in March, while only 11% decreased in value.
Earlier this year, before the listing of Facebook shares, founder Mark Zuckerberg paid about $7 million for 465-square-metre, seven-bedroom house in an affluent neighbourhood of Palo Alto. 
The prospective listing of professional networking site LinkedIn has also helped drive up property prices around its Mountain View headquarters, just south of Palo Alto.
LinkedIn’s plans to list on the New York Stock Exchange (NYSE) were announced in January, with house prices in Mountain View up 5.1% year-on-year to a median of $741,000.
Mountain View is also the headquarters of Google.
Figures compiled by US real estate listings website Sawbuck show that two months prior to the listing of Facebook, there were 1,531 home sales, compared with just 840 in the two months before Facebook announced its plans to go public.
The surge in prices in Silicon Valley is in sharp contrast to the overall performance in the US housing market.
According to the benchmark S&amp;P/Case-Shiller index of property values, house prices fell 3.6% percent in March year-on-year to their lowest level since 2003.
US house prices are down 33% from their peak in 2006.
According to Kenneth Rosen, chairman of Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley, the boom in Silicon Valley house prices could continue into 2013.
“It’s just the beginning of the story, and I suspect we’ll see an explosion in the next couple years,” Rosen told Bloomberg.
“You’ve got young people with real money, and it’s not surprising they want to have a house,” he added.
According to Bloomberg, around 300 companies filed IPOs last year with 10% of those in California.
Venture capitalists invested almost $23.3 billion in Silicon Valley start-ups last year, according to estimates from the National Venture Capital Association show.
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lschlesinger-FZcF9M3vE6

Silicon Valley property market ‘likes’ Facebook IPO as local real estate prices rise

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The Breakfree founder tourism entrepreneur Tony Smith – whose global financial crisis share investment tumble prompted a hasty exit from his Mermaid Beach mega-holding – has made a $7 million-plus comeback on the Gold Coast beachfront strip.
Smith, who now runs two luxury resorts in Bali, has bought a 1,220-square-metre holding on Surf Street, which runs off Albatross Avenue.
He told the Gold Coast Bulletin the property would be the family's holiday house when they visited Australia.
"I have no idea if the market is at the bottom but can't imagine that it can go much lower," he said.
"We are now buying at 1998 to 2000 prices (the last boom started in 2001), which was at the end of an eight to 10-year bust."
Smith made national headlines during the property boom for wanting to build the "the world's biggest bloody house" along Hedges Avenue, having consolidated five properties.
But the plans were thwarted when MFS, now known as Octaviar, got caught in the GFC, with Smith  among those hurt by the early 2008 collapse.
With Gold Coast prices remaining surprisingly resilient well into the GFC, his partially half-built Hedges Avenue mega-mansion was sold to the now failed IT tycoon Daniel Tzvetkoff for $27 million.
The depths of the coast's eventual property collapse emerged when <a href="https://www.propertyobserver.com.au/residential/the-8-biggest-losses-on-mermaid-beach-s-millionaire-s-row-show-no-post-gfc-recovery-in-sight/2011113052610">Tzvetkoff hit financial strife, and the still unfinished house was sold to Mitchell Drilling founder Peter Mitchell for $17 million</a>.
Smith, who is a non-resident Australian, now lives in Bali and manages properties at Seminyak and Uluwatu, under the Semara Resort and Spa brand.
Agent John Natoli at McGrath negotiated the sale after the property was passed in for $6.9 million. It sold within 24 hours for between  $7 million and $7.5 million.
It is the Smith family's second property purchase along the strip, as his wife Simone spent $3,025,000 on a beachfront unit  in late 2011.
 
 
 
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Breakfree founder Tony Smith makes $7 million-plus Mermaid Beach comeback: Title Tattle

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Four St Hilliers Construction sites will reopen today, creditors of the failed business have been advised by administrators Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recovery Group. 
The four sites, which take the total number of sites reopened since the company went into voluntary administration last week to eight, are all training facilities that are being constructed for the Department of Defence and have a combined value of $170 million.
They are:
<ul>
<li>Training facility at Watsonia, Victoria </li>
<li>Wide Bay Training Facility, Tin Can Bay, Queensland </li>
<li>Greenbank Training Facility, Greenbank, Queensland </li>
<li>Maintenance Training Facility, Bandiana, Victoria </li>
</ul>
In a statement the administrators and St Hilliers executive chairman Tim Casey and his team said they were optimistic that the 13 NSW social housing projects would reopen next week following a “constructive meeting with NSW Public Works on Friday”.
A creditors’ meeting will be held in Sydney on Friday.
Contractors on the defence sites are still owed money by St Hilliers, with ABC Wide Bay reporting that a Gympie electrical contractor PHE is owed $1 million for work on the defence force training base at Tin Can Bay. 
PHE manager Geoff Lobegeier says PHE will lodge a claim for the money but is worried the bill will not be paid. 
“I will do my best to pay my subcontractors because I've got a contract with them and ... that will leave us short ... so a business can only survive on money flow, so that's a huge concern," he told the ABC. 
Lobegeier is demanding the federal government step in and pay him the money. 
In the statement the administrators said they were in “active dialogue with all clients regarding all St Hilliers Construction Pty Ltd sites with the objective of reopening all remaining sites in NSW, Queensland, ACT and Victoria as soon as possible”. 
“The administrator and the company will continue to keep all stakeholders informed of progress,” the statement says.
 
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Four St Hilliers sites being built for Department of Defence to reopen today

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From the results over the past few weeks, it would be easy to conclude that the market is all over the place – up one week, down the next.  But it's not as inconsistent as it may appear. It's just very picky at the moment when it comes to stock and price.
Before Easter we had a good supply of stock and we had vendors prepared to sell at market price. The result was solid clearance rates. After Easter things got quiet again. Then last weekend we saw some solid results across the board on quality market priced stock. And then this weekend we were back to slightly weaker clearance rates. Why?
The constant stream of economic news isn't helping, but we feel that the inconsistency really is down to stock quality and seller pricing – which seems to be changing on a weekly basis right now.
In fact, there could have been some more healthy results this weekend, if more vendors had been prepared to accept what the market was offering.
<img src="/images/stories/alfredst2.jpg">
Take, for instance, 61-63 Alfred Street, Kew (pictured above), which last sold in May 2009 under the hammer with six bidders for $4.85 million in front of a big crowd. This time around another 100-strong crowd saw two bidders fight it out to $5.3 million. But instead of being sold under the hammer, it was passed in. It was being marketed by Jellis Craig agents Jim Shang and Richard James.
<img src="/images/stories/carolinest.jpg">
Another case is 6 Caroline Steet, Hawthorn East (pictured above), a good little single-fronter investment home being marketed by Marshall White agents Zali Booker and James Tostevin. In 2010 this sold for just over $1.3 million at auction. This time it passed in at $1.23 million, but not without strong demand from five bidders. The seller had the chance to sell if he wanted to.
Some may look at those pass-ins and see a market in trouble due to no sales. Yet there were a total of seven bidders across the two auctions, and the pass-in prices were not too far away from the previous sale prices. That indicates that we would have had a stronger clearance rate if sellers wanted to meet the auction price on the day.
Yes, there is weak bidder interest for overpriced and/or low quality offerings. But there is strong bidder interest on well-priced and quality homes – it's just that many times the level of that interest doesn’t quite match the expectations of the seller.
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
 
 
 
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maljames-vHwm28JUAa

Top-end Melbourne property market not as inconsistent as it appears: Mal James

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Every 1% drop in the dollar should increase Australian farming earnings by $190 million, according to National Australia Bank's agribusiness economist Michael Creed.
And while much of the recent currency devaluation was based on concerns about risk in global markets, it had not translated through to reduce demand for agricultural commodities, he told Fairfax Media.
The dollar has fallen more than 7% from its peak of $US1.08 this year.
EL&amp;C Baillieu Stockbroking analyst Simon Dumaresq said falls in the dollar could also fuel a new round of foreign investment in Australian agriculture.
"A lower currency could also promote acquisitions of Australian assets from foreign companies looking to secure supply and meet the growing shortage of many agricultural products in Asia," Dumaresq advised.
Elders chief executive Malcolm Jackman expects the depreciation of the Australian dollar will not only improve the value of exports but put pressure on the prices of food imports which makes local produce more affordable.
But The Stock &amp; Land reported only one financial institution had made any reduction in interest rates for agribusiness customers in the past month based on monitoring of agribusiness loans by the National Farmers’ Federation (NFF).
NFF economics committee chairman John McKillop said the lack of movement from the banks was extremely disappointing for agribusiness customers.
 
 
 
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Dollar decreases of 1% boost farm earnings of $190 million: NAB

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Dixon Advisory’s US Masters Residential Property Fund, the only listed Australian property trust with a primary strategy of investing in US residential property, is seeking to double in size ahead of its July listing on the Australian Stock Exchange. 
<a href="https://www.propertyobserver.com.au/overseas/dixon-advisorys-us-portfolio-up-to-101-properties-as-it-moves-further-into-new-jersey-suburbs/2012022153486" target="_blank">The fund has to date bought over 130 rental properties in New Jersey</a> and raised over $100 million from local investors. 
It is now seeking to raise a further US$50 million ($50.6 million) from Australian investor with the right to receive oversubscriptions for a further US$50 million. 
The new offer closes on June 12 ahead of a proposed July 20 ASX float. 
The fund is currently listed on the small-cap National Stock Exchange (NSX) under the code URF with a last traded share price of $1.60 giving it a market capitalisation of $99.8 million. 
The current share price is trading at a premium to its May 11 unaudited net asset value of $1.56 per unit, but below its listing price of $1.70 per unit. 
Fund investment manager Alan Dixon says investment opportunities in the US market are “highly attractive,… especially at a time when property prices are at cyclical lows, rental demand remains strong and rents are increasing. 
“This is particularly the case in the New York metropolitan area, where the fund is initially targeting with a specific focus in Hudson County, New Jersey.” 
Earlier in the month, the fund announced it was investing in a joint venture with Urban American, a US real estate investment firm specialising in multi-family properties in the New York metropolitan area, to acquire a portfolio of 13 specific multi-dwelling apartment complexes with 398 residential units in Hudson County, New Jersey, with the funding contributing US$10.2 million of the acquisition cost of US$38 million. 
Since launching, the fund has targeting the New York metropolitan region and has bought 132 properties in Hudson County, New Jersey worth $27.5 million with yields ranging from 5.7% to 10.3%. 
It has conditional acceptances on a further 99 properties worth a combined $23 million. 
Combining this joint venture with conditional and unconditional acceptances on detached houses in Hudson County takes its total acquisition costs to US$76.1 million. 
The fund has bought free-standing houses for an average of US$219,000 and units for an average of US$95,000. 
The properties are all located in Hudson County within close proximity to public transportation networks providing easy access to Manhattan and various public amenities. 
In its presentation to shareholders said valuations remained very depressed “but improving”, the mortgage market remained broken “but healing slowly” and rental demand was “robust” with “growing rents, low vacancy, quality applicants”. 
Housing affordability is at record highs but applicants can’t get mortgages, the fund says. 
The fund expects to pay semi-annual distributions to unit holders and of a minimum 10¢ per unit for the calendar year ending December 31, 2012.
 
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