<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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Melbourne inner east
In Melbourne’s inner east slowing demand led to prolonged selling periods for many vendors in 2011, with buyers taking advantage of weakened conditions by making low offers. Consequently,  many properties that typically go to auction were offered to the market via private sale amid fears of insufficient demand.
Suburbs including Ringwood and Blackburn were among the region’s worst performers, suffering from increased supply of housing while demand constricted. Similarly, the suburb of Doncaster continues to see an ongoing increase in the supply of new apartments. The oversupply has implications for local values in the future as the stock of similar properties competes for buyers.
In 2012, the improvement to affordability is expected to give rise to activity from entry-level and first-home buyers who would otherwise be priced out of the market. However, activity among established home buyers is expected to remain slow as prices continue to stabilise following strong growth in 2009-10.
Geelong, Bellarine Peninsula and Surf Coast
During the final quarter of 2011 there was a general easing of sales activity and buyer enquiry across Geelong and Bellarine Peninsula, as demand from first home owners and investors softened.
Buyers are seeking well-maintained property that requires no immediate repairs or improvements expenditure such as new homes and fully renovated dwellings. Established home owners remain inactive and are concentrating on reducing debt levels in the short to medium term. This has caused a decline in properties for sale within the $500,000 to $1 million range.
The summer selling period has brought reasonable demand for properties in coastal areas including Ocean Grove, Barwon Heads, Torquay and Anglesea, however, slower selling conditions continue in Bellarine towns such as Portarlington, Clifton Springs, St Leonards and Leopold. This is expected to continue into the second quarter of 2012.
While it has not experienced any significant increase in property prices, Geelong West remains in high demand, with properties selling much faster than surrounding areas. Conversely, Wandana Heights has experienced sluggish sales as a result of improved transport linkages to neighbouring suburbs and supply of new housing available in the well regarded suburb of Highton Ridge, resulting in a poor performance for the area.
Macedon Ranges
Improved affordability had little effect on demand in Victoria’s north, with little activity from buyers and sellers in the Macedon region in late 2011. While transactions continue to occur they do so at lower levels than 12 months earlier, applying pressure to vendors to meet buyers’ expectations.
This trend is likely to persist in the first quarter of 2012, with movement in values between -4%  and 4% for some property types. This means there are good opportunities to buy in suburbs such as Gisborne and Woodend.
Even though conditions are ripe, investors are scarce, with buyers namely consisting of owner-occupiers and those downsizing from larger rural properties. Properties on larger allotments of land valued at over $600,000 are experiencing prolonged periods on the market due to poor demand.
On the upside, current conditions mean there are strong opportunities for savvy investors to purchase property at reasonable prices and achieve a sound investment return.  The area is experiencing a shortage of rental properties, which has led to significant demand and competition among renters.
South-east Gippsland
Melbourne’s outer south east eased into the new year period, with many buyers chasing reduced prices.
The Cranbourne prestige market softened in 2011, with some agents reporting 20% price falls and minimal sales over $500,000.
Similarly, Berwick recorded a fall of more than $35,000 in the median house price during the December quarter. While median statistic are often misleading due to fluctuations in stock levels the price fall has been confirmed by local real estate agents who witnessed the price decline across the outer south east, particularly within Pakenham, where demand dramatically reduced during the December quarter.
The Wonthaggi Desalination Plant has brought hundreds of workers to the town from Melbourne and surrounding towns.
The infrastructure project has attracted investors and resulted in rising property prices in the area. Local real estate agents reported that the investors seeking to purchase in the area held very little discrimination to local property and were just eager to secure a property. The desalination plant brought a transient workforce to Wonthaggi, which increased average rental returns from 4% to a high of 10% at peak periods. The activity also stimulated an increase in property prices by an average 25%.
As construction on the project nears completion prices in the town appear to be trending down, with the price of some properties already falling 20%. For now rents remain stable at 6% to 7%. The downward trending in the growth in this area begs the question about the long-term investment viability of Wonthaggi and other regional communities subject to major projects.
Greville Pabst is CEO of the <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>.
 
 
 
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Hotspots: Four bright spots for house prices in Victoria for 2012: Greville Pabst

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She might be solar powered, but even the iconic Skipping Girl Vinegar mascot, Little Audrey, is set to be switched off during Earth Hour 2012.
<img width="470" src="/images/stories/audrey1.jpg">
The Abbotsford icon was the first animated neon sign in Australia, designed in 1936, and on Saturday night will be tokenistically turned off by its owners corporation at 651 Victoria Street.
<img width="470" src="/images/stories/audrey2.jpg">
Jeanette Ward, Colliers International associate director, real estate management, says its among the 75 Victorian properties managed by Colliers International that have signed up to switch off their lights from 8.30 to 9.30pm this Saturday, March 31.
“Colliers International has been a key supporter of Earth Hour since 2007 and has again arranged for buildings within our real estate management portfolio nationally to have non-essential lighting turned off during this hour,” Ward says.
Earth Hour is an international cause, and people all over the world turn off their lights between 8.30pm and 9.30pm for one hour. The campaign aims to send a global message that is possible to take action on climate change and make a difference.
The historic skipping girl sign is powered by 27 rooftop solar panels with its power currently being paid for by AGL Energy using their 100% GreenPower energy plan until 2014.
Constructed in 1936 by Neon Electric Signs, which later built the Nylex Clock in 1961, she was originally rented to the Nycander factory in Victoria Street and advertised vinegar, being a part of the suburb's landscape until 1968 when the factory changed hands.
A replica of the original sign was made in 1970, after the factory was taken over by the Metropolitan Fire Brigade, which sold the sign.
By 1970, the new Audrey was erected, but in 1986 her lights went out again when that business, the Crusader Plate factory, closed.
Community lobby group Friends of Audrey, backed by energy supplier AGL, campaigned for and won heritage registration in 2007, and in 2009 she was fully restored after the group rallied community support and raised the necessary funds.
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Little Audrey, of Skipping Girl Vinegar, to take a well-deserved 60-minute break for Earth Hour

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Seven Mile Beach, near Hobart International Airport, is Tasmania’s fastest-selling locality, with houses taking an average of just 26 days to sell last year, according to RP Data. This was closely followed by Cooee at 30 days and then by Mount Stuart at 40. Property Observer notes there were 18 sales in Seven Mile Beach last year.
<table width="220" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="117">
Locality
</td>
<td valign="bottom" nowrap width="103">
Days on Market
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Seven Mile Beach
</td>
<td valign="bottom" nowrap width="103">
26
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Cooee
</td>
<td valign="bottom" nowrap width="103">
30
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Mount Stuart
</td>
<td valign="bottom" nowrap width="103">
42
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Brooklyn
</td>
<td valign="bottom" nowrap width="103">
44
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Lutana
</td>
<td valign="bottom" nowrap width="103">
47
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Parklands
</td>
<td valign="bottom" nowrap width="103">
52
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
West Hobart
</td>
<td valign="bottom" nowrap width="103">
53
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Battery Point
</td>
<td valign="bottom" nowrap width="103">
54
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Mornington
</td>
<td valign="bottom" nowrap width="103">
55
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="117">
Forcett
</td>
<td valign="bottom" nowrap width="103">
60
</td>
</tr>
</tbody></table>
 Source: RP Data
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Seven Mile Beach leads fastest-selling localities in Tasmania: RP Data

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The RBA’s decision to cut interest rates in November and December last year had an immediate effect on the property market in Melbourne’s struggling eastern suburbs, says Jellis Craig.
Jellis Craig Mount Waverley directors Paul Polychroniadis and Con Lazogas have written in Jellis Craig’s Annual Property Review that another interest rate drop would help the suburbs in the Melbourne municipality of Monash further.
Click to enlarge
<a rel="shadowbox" href="/images/stories/monashcomment1.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“The two consecutive interest rates drops in November and December 2011 had an immediate and positive impact on the local market, with the level of enquiry increasing measurably,” write Polychronidadis and Lazogas.
“We anticipate that any additional rate reductions will further stimulate the market. We have already witnessed larger numbers of viewers at our open for inspections.”
They say that families looking to upgrade are buoying the market in these areas thus far in 2012.
<a rel="shadowbox" href="/images/stories/monashcomment2.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“Whilst buyer enquiry has lifted across the board, it is most evident for houses in the $650,000 to $1.2 million range and townhouses in the range $500,000 to $800,000,” they say.
“Increased competition in the mortgage market will offer up attractive opportunities for buyers to finance in this range.”
This is in contrast to the end of last year, when buyer numbers were down and prices falling.
“We did see the number of bidders for each property down from the four or five parties from the previous year. This lack of competition kept prices subdued.”
 
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Further rate cuts would help property market in Monash in Melbourne’s eastern suburbs: Jellis Craig

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Sydney northern beach weekenders continue to show weakness. Bank of Queensland chief executive Stuart Grimshaw and Susanne Grimshaw have sold their hillside Whale Beach weekender for $2.8 million. But the Grimshaws had paid $3.1 million in 2009 for the four-bedroom 1970s Whale Beach Road house, which sold through McGrath agent Andrew Mappin.
Their Killara house, which cost $3.5 million in 2003, has been listed with $4 million-plus hopes through Scott Farquhar at McGrath Lindfield.
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Even bankers not immune to Sydney northern beaches weakness as Stuart Grimshaw sells Whale Beach weekender at a loss: Title Tattle 

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Scottsdale, in Tasmania’s north east, is the state’s slowest-selling locality, with houses taking more than six months to sell, according to RP Data. Scottsdale has recently suffered from job losses. Property Observer notes there were 18 sales in Scottsdale last year.
<table width="211" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="108">
Locality
</td>
<td valign="bottom" nowrap width="103">
Days on Market
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Scottsdale
</td>
<td valign="bottom" nowrap width="103">
194
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Huonville
</td>
<td valign="bottom" nowrap width="103">
164
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Scamander
</td>
<td valign="bottom" nowrap width="103">
163
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
St Helens
</td>
<td valign="bottom" nowrap width="103">
162
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Shearwater
</td>
<td valign="bottom" nowrap width="103">
161
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Turners Beach
</td>
<td valign="bottom" nowrap width="103">
159
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Triabunna
</td>
<td valign="bottom" nowrap width="103">
155
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Eaglehawk Neck
</td>
<td valign="bottom" nowrap width="103">
152
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Miandetta
</td>
<td valign="bottom" nowrap width="103">
152
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
Westbury
</td>
<td valign="bottom" nowrap width="103">
150
</td>
</tr>
</tbody></table>
 Source: RP Data
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Scottsdale slowest-selling locality in Tasmania: RP Data

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Listed property developer Mirvac has reaffirmed its profit and earnings guidance for the 2012 financial year <a href="https://www.propertyobserver.com.au/industry-news/stockland-downgrades-earnings-as-wet-weather-delays-illawarra-residential-projects/2012032754023">following the downgrade earlier today by Stockland</a>. 
Mirvac is forecasting operating profit of $360 million to $364 million, operating earnings per share (EPS) guidance of 10.5¢ to 10.6¢ per stapled security and distribution guidance of 8.2¢ to 8.4¢ per stapled security. 
“Mirvac is confident of delivering on our previously stated 2012 financial year forecast group operating guidance,” Mirvac managing director Nick Collishaw said after the market closed today. 
“Our development division forecast includes our target of 1,800 residential lots, which has been prepared in line with current market conditions. 
“Our stated strategy to focus on the office investment sector, and our apartment and master-planned community projects on developing the right product, at the right price point, in the right location is proving effective.” 
“As highlighted in our 2012 financial year half-year result, 68.5% of our second half of 2012 forecast development operating earnings before interest and tax (EBIT) is already secured from pre-sold contracts.” 
“This figure provides us with good visibility for the full year,” says Collishaw, who expects to provide third-quarter 2012 financial year update to the market on May 1. 
Stockland shares fell 4.4% today (14¢) to $3 while Mirvac shares were down marginally to $1.185 from $1.20 at the start of trading. 
According to Morningstar's head of property research Tony Sherlock, while there is scope for further softness in the sector, ''the bigger question is how long will this last, particularly given the RBA's reluctance to cut rates with inflation and unemployment both apparently in check''. 
''While the remaining parts of Stockland appear sound, we are not forecasting a material recovery in the residential division for at least 18 months,'' he says. 
Fairfax media reported that in a morning note to clients Macquarie Equities said the increase in mortgage rates in February had a negative impact on the residential market. 
''This has been a key factor underpinning our ongoing caution on the performance of the residential developers,'' the note says. 
''Stockland's revised guidance 'assumes sales will continue to be slow for the balance of the financial year' although we continue to highlight that soft market conditions can also adversely impact the results from the retirement business which, at this stage, Stockland have said is performing in line with expectations.''
 
 
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With good visibility, Mirvac reaffirms full year earnings and profit guidance following Stockland downgrade

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The highest rainfall in the Illawarra region in NSW in 50 years, which has delayed activities at two residential projects, has contributed to Stockland issuing an earnings downgrade for the 2012 financial year.
The two projects are Brooks Reach in Dapto, comprising 618 lots, and McCauley's Beach in Thirroul, comprising about 160 lots.
The developer has cut its full-year earnings guidance from 31.6¢ earnings per share to 30.2¢ per share, a drop of 3.5%.
The decline is 50% attributed to weaker sales, 35% attributed to delays in settlements in the Illawarra projects due to rain and the balance due to lower-than-expected sales of superlots (larger lots sold off for other uses, such as lots sold to a government for a school or sold to another developer, which may choose to develop apartments).
Stockland’s announcement has prompted analysts' outlook for the residential market to weaken.
“[The downgrade] will erode any underlying hope that the residential consumer will become more active near term”, says Simon Wheatley, senior REIT analyst at Goldman Sachs, following the announcement.
Stockland shares fell 13¢, or 4.1%, following the announcement to $3.01 in early trading, making Stockland the second-worst performer among the top 200. Stockland CEO Matthew Quinn says the wet weather in the Illawarra – the wettest in 50 years –resulted in production delays and settlement delays in the two projects.
Lots in McCauley's Beach are for sale for between $400,000 and $700,000, and those in Brooks Reach (pictured below) are for sale for between $159,000 and $250,000.
<img style="border-style: initial; border-color: initial;" src="/images/stories/brooksreach.jpg">
“We thought we had factored in weather … but it’s something we will have to factor into future forecasting,” Quinn said in an analysts’ briefing following the downgrade announcement.
“We had pre-sales in place, but these will now only settle in 2013 financial year,” he says.
Furthermore, Quinn says residential lot sales are being affected by competitors cutting their prices of lots sales by between $50,000 and $70,000.
In November, <a target="_blank" href="https://www.propertyobserver.com.au/land/stockland-takes-29-seconds-to-sell-40-illawarra-lots-in-online-blitz/2011110352211">Stockland heralded the sale of 40 Brooks Reach lots in just 29 seconds</a> in an online sale, with lots ranging in size from 550 square metres to 700 square metres and priced around the low- to mid-$200,000 range. They were sold online to avoid potential buyers camping out to secure a lot and were part of a batch of 70 sold in the first week after the project’s launch.
A spokesperson for Stockland says settlement of some of these online sales might have been delayed as consequence of the weather.
Quinn says the downward shift in market sentiment followed <a target="_blank" href="/news">interest rate increases by the banks</a> as well as other localised factors such as a “marked shift” in Queensland sentiment ahead of the recent election.
“Queensland demand has been quite soft due to people being frustrated… Queensland needs an injection of activity,” he says. 
Quinn says sales were strong in January and February but there had been a degree of softness in March sales, “ based on wet weather and softness to continue for rest of financial year”.
"National dwelling approvals are running well below historical trend, and we expect the residential market to find a floor in the next six to 12 months," he said in an earlier statement.
Quinn also highlights the market’s sensitivity to interest rates.
“Unfortunately the residential market has deteriorated since banks lifted interest rates independent of the RBA, and March sales have been lower than expected. The revised guidance assumes sales will continue to be slow for the balance of the financial year,” he says.
“If the RBA were to cut rates and the banks passed this on it would spur people on and give a kicker to confidence.
“But realistically when it comes through it is unlikely increase sales for this financial year, but only impact on next financial year,” says Quinn.
 
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Stockland downgrades earnings as wet weather delays Illawarra residential projects

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Normandie, a French-inspired castle estate at Dural, has been sold.
Offers of $3 million plus were most recently being sought by Sandy Ward at Ray White Dural, who posted its sale announcement on realestate.com.au yesterday. No sale price was given.
It was a mortgagee-in-possession sale, having been initially listed in September 2009 by its owners with $6.25 million-plus hopes.
The imposing sandstone residence was built in 1985 by Bronte Douglass – a founder of Douglass Pathology – and his wife, Darlene. The manor house was built after the couple bought the almost-bare block in the early 1980s for $130,000. They had studied books on French chateaux before finalising their concept for the house with the assistance of designer Darryl Lock, who drew the plans. Lock also created many of the interior finishes, such as the four chandeliers suspended from the 10-metre-high cathedral ceiling in the great hall at the centre of the residence.
The house has a slate roof imported from the Pyrenees, external walls made from Sydney sandstone and interior walls of rendered brick. Designed to maximise its north and easterly aspects, it has forest and rural vistas from every room.
At entry level is its great hall with a minstrel's gallery, a huge formal sitting room, banquet-sized dining room, large study panelled with American oak, family room, open-plan kitchen and breakfast area.
It comes with four bedroom suites.
Its 2.2-hectare grounds have sweeping lawns, ornamental trees, a tennis court and swimming pool.
A recent search of the property’s title revealed mortgages to St George Bank and the National Australia Bank.
Considered the most exclusive street in Dural, Jane Place has eight properties of 2.2 hectares each.
The most recent sale was sold by car dealer Phil Gilbert for $3.75 million.
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French-inspired Dural castle Normandie sells after owners failed to keep mortgagees at bay

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The general consensus is that there is an oversupply of apartments in Melbourne.

According to figures from the Victorian Building Commission, there was a 42% jump in apartment building permits in 2011, so the oversupply problem is not likely to go away in 2012. 

Valuation firm WBP believes established apartments within 15 kilometres of the CBD offer the best prospects in 2012 while new apartments further out are expected to decline in value due to oversupply.
Click to enlarge
<a href="/images/stories/clockmelbourneunits.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/clockmelbourneunitsthumb.jpg"></a>
Time: 4.30
Michael Yardney highlights the oversupply of inner-city and CBD apartments, with more being completed in the next few years. 

“This is occurring at a time when there is less demand from the demographic of tenants that rent in the CBD. This will put downward pressure on prices and rentals,” he says.

“Many of the apartments that have been sold off the plan are coming on stream in the next few years and have been purchased by investors. Some will have difficulty getting finance and settling their purchase. Others will be disappointed to see the end value of their properties is less than their purchase price.”

Yardney expects there will be an oversupply of inner-CBD and near-CBD apartments in Melbourne for a few years, causing prices to fall slightly.
Population: 4.1 million  
Median unit price: $416,000 
Unit price growth in February 2012: 0.8% 
Annual unit price growth to December 2011: -3.6% 
Annual unit price growth to July 2011: -2% 
Rental yield: 4.3%
To find out where your capital city sits on the property clock, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock">download our free eBook. </a>
 
 
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