<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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Period flats and houses close to Melbourne “villages” such as Elwood, Kensington, South Yarra, Prahran and Richmond Hill offer great investment potential, according to Greville Pabst, chief executive of property valuation and advisory firm WBP Property Group.
Speaking at the WBP Melbourne Property Outlook breakfast, Pabst said Melbourne had been built on villages and that being able to walk to the village to get a coffee was very important when looking at a potential property investment.
He says that “1960s and 1970s flats in low density are going to perform well. The high rises will struggle to perform”.
“In suburbs like Elwood, Prahran and South Yarra we are starting to get some really good results such as a two-bedroom 1960s flat in South Yarra that sold at auction recently with two strong bidders for $713,000.”
Pabst says he is also seeing competition for good-quality one-bedroom flats in East Hawthorn and South Yarra with prices approaching $500,000.
WBP is forecasting growth of between 2% and 6% for established houses and units within 10 kilometres of the Melbourne CBD in 2012.
However, the outlook for modern units in places like Docklands is poor, with WBP forecasting no price growth in 2012 and a potential drop of 5%.
“Investments must have high land value and an element of scarcity. Owning one apartment out of 200 in Docklands has no scarcity value,” Pabst says.
“You also have to think about the underlying land value,” he adds.
WBP Housing performance predictions for 2012
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="262">
 
</td>
<td valign="top" width="148">
Lower Limit
</td>
<td valign="top" width="205">
Upper Limit
</td>
</tr>
<tr>
<td valign="top" width="262">
Modern units / apartments (legitimate resales)
 
</td>
<td valign="top" width="148">
-5%
</td>
<td valign="top" width="205">
0%
</td>
</tr>
<tr>
<td valign="top" width="262">
Established units/apartments 
 
</td>
<td valign="top" width="148">
+2%
</td>
<td valign="top" width="205">
+6%
</td>
</tr>
<tr>
<td valign="top" width="262">
Prestige market ($3.5m +)
 
</td>
<td valign="top" width="148">
-5%
</td>
<td valign="top" width="205">
 
</td>
</tr>
<tr>
<td valign="top" width="262">
Prestige market ($2m - $3.5m)
 
</td>
<td valign="top" width="148">
-4%
</td>
<td valign="top" width="205">
+2%
</td>
</tr>
<tr>
<td valign="top" width="262">
Established houses: 10km of CBD (under $2m)
 
</td>
<td valign="top" width="148">
+2%
</td>
<td valign="top" width="205">
+6%
</td>
</tr>
<tr>
<td valign="top" width="262">
Established houses : 11 – 20km of CBD (under $2m)
 
</td>
<td valign="top" width="148">
0%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="262">
Holiday / leisure market 
 
</td>
<td valign="top" width="148">
-10%
</td>
<td valign="top" width="205">
-5%
</td>
</tr>
<tr>
<td valign="top" width="262">
Mortgage-belt (under $500k)
 
</td>
<td valign="top" width="148">
-2%
</td>
<td valign="top" width="205">
3%
</td>
</tr>
<tr>
<td valign="top" width="262">
Development sites 
 
</td>
<td valign="top" width="148">
-5%
</td>
<td valign="top" width="205">
0%
</td>
</tr>
</tbody></table>
 
Pabst provided examples of actual sales to show the merits of investing in period properties within villages instead of cookie-cutter units in suburbs with less history.
WBP advised on the sale of a 1960s two-bedroom flat in this block (below) on Tennyson Street in Elwood.
The flat <a href="https://www.realestate.com.au/property-apartment-vic-elwood-107372208">sold for $632,000 in May 2011</a>, having previously sold for $475,000 in 2008, equating to annual growth of nearly 10%.
<img width="470" src="/images/stories/pabst1.jpg">
The flat is close to the St Kilda Botanical Gardens among a “leafy streetscape” and is within walking distance of the St Kilda shopping strip that begins at the intersection of Barclay and Acland streets.
Pabst contrasted this with a flat on NewQuay Promenade in Docklands, which sold for $540,000 in 2010 having  been purchased for $495,000 in 2005 – annual growth of just 2%.
<img width="470" src="/images/stories/pabst2.jpg">
“You’re better off putting your money in the bank,” he says.
Furthermore, Pabst says the higher corporate ownership costs on this particurlar unit made it unviable as an investment
In October 2009, WBP advised on the sale of this three-bedroom Edwardian two-storey home. It sold for $780,000 having previously sold for $270,000 in 1998, representing annual growth of 10.12%
<img width="470" src="/images/stories/pabst3.jpg">
Pabst contrasted this with the 2012 sale of this three-bedroom house in Derrimut (pictured below), for which WBP acted as vendor’s advocate. The property was bought for $330,000 in 2004 and sold for $335,000, representing annual growth of 0.2% over eight years.
“She (the vendor) could have bought a flat in South Yarra that would be triple that value now,” says Pabst.
<img width="470" src="/images/stories/pabst4.jpg">
WBP also advised on the sale of a top-floor one-bedroom flat in this low-rise complex in Rowena Parade in Richmond Hill, which looks out of the MCG.
<img width="470" src="/images/stories/pabst5.jpg">
The <a href="https://www.realestate.com.au/property-apartment-vic-richmond-107555255" target="_blank">unit sold for $468,500 last year</a>, having previously sold for just $79,500 in 1998, equating to annual growth of nearly 15%.
In contrast, a Docklands apartment in this complex (below) on Bourke Street sold for $422,000 in 2010, having previously sold for $410,000 in 2007. This equates to annual price growth of 0.25%.
<img width="470" src="/images/stories/pabst6.jpg">
Pabst says investors need to burrow down not just into the suburb but into street level and even go as far as considering one side of the street versus the other.
“In Richmond, we don’t like to go south of Swan Street because of freeway noise or too far north of Bridge Road because the streets are narrow and as you get closer to Victoria Street you compete with restaurants for parking,” he says.
 
 
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lschlesinger-FZcF9M3vE6

Hotspots: Villages like Elwood and Richmond better for investors than Docklands: WBP

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All 10 of the properties on SQM Research's most discounted properties in Victoria list are in Melbourne suburbs, with no regional Victoria representation.
This is in sharp contrast to the list of the most discounted properties in New South Wales, which features four Central Coast properties and two properties in the Blue Mountains.
The property taking out the eighth spot on the Victorian list is in the new outer-Melbourne suburb of Caroline Springs, where the post office opened just seven years ago. 
"Victoria has been experiencing some extremes in the property market in comparison to other states, with Melbourne's stock on market figures considerably high (currently sitting at 45,423 as of February 2012 – up 19.8% year-on-year) as well as elevated residential vacancy rates (currently sitting at 12,719 vacancies and a vacancy rate of 3.5% as of January 2012)," SQM director Louis Christopher says. 
"These high figures for Melbourne have been previously attributed by SQM Research to the substantial amount of residential property development occurring in the capital city, as well as an overall increase in stock levels nationally over the course of the past year."
1
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D7287832" target="_blank">1365 Ballan Road, Wyndham Vale, VIC, 3024</a>
On the market since: May 22, 2010
Initial asking price: $2.4 million
Current asking price: $1.8 million
Reduction: 25%
Days on market: 609
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009275350" target="_blank">1/67 Ballarat Road, Footscray, VIC, 3011</a>
On the market since: October 9, 2011
Initial asking price: $329,000
Current asking price: $250,000
Reduction: 24%
Days on market: 140
 
3
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009308240">4/69 Denbigh Road, Armadale, VIC, 3143</a> (pictured)
On the market since: October 23, 2011
Initial asking price: $1,175,000
Current asking price: $900,000
Reduction: 23%
Days on market: 105
 
 
4
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107616668">13 Summit Avenue, Oak Park, VIC, 3046</a> 
On the market since: August 20, 2011
Initial asking price: $670,000
Current asking price: $510,000
Reduction: 24%
Days on market: 189
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009281706" target="_blank">24a Jackson Avenue, Mont Albert North, VIC, 3129</a>
On the market since: October  9, 2011
Initial asking price: $1,56 million
Current asking price: $1.2 million
Reduction: 23%
Days on market: 140
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009119742" target="_blank">20/234 Warrigal Road, Camberwell, VIC, 3124</a>
On the market since: July 24, 2011
Initial asking price: $180,000
Current asking price: $140,000
Reduction: 22%
Days on market: 182
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D109125461" target="_blank">2/17 Hamilton Road, Bayswater North, VIC, 3153</a>
On the market since: December 31, 2011
Initial asking price: $359,000
Current asking price: $280,000
Reduction: 22%
Days on market: 56
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009288821" target="_blank">3 Calthorpe Green, Caroline Springs, VIC, 3023</a>
On the market since: October 16, 2011
Initial asking price: $560,000
Current asking price: $440,000
Reduction: 21%
Days on market: 112
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107401737">12 Hotham Street, Cranbourne, VIC, 3977</a>
On the market since: May 14, 2011
Initial asking price: $329,000
Current asking price: $260,000
Reduction: 21%
Days on market: 252
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107415823">89b Bluff Road, Black Rock, VIC, 3193</a>
On the market since: May 21, 2011
Initial asking price: $1.2 million
Current asking price: $950,000
Reduction: 21%
Days on market: 280
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia</a> for sale.
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cknowlton-QnEa6ntUYP

Most discounted properties in Victoria all in Melbourne: SQM

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More pressure has been placed on the US economic recovery and the global economy after new US homes sales fell by 2.2% to an annual seasonally adjusted rate of 307,000 units – the lowest level since 1963.
Economists polled by Reuters had been forecasting annualised sales of 320,000 units.
Patrick Newport from US-based research firm IHS Global Insight described 2011 as “the worst year on record for the new single-family home market”.
The poor result comes despite the US government’s efforts to stimulate the housing sector, with Federal Reserve chairman Ben Bernanke pledging to keep interest rates at a near zero rate until at least mid-2013.
At the same time US president Barack Obama is proposing a plan to help borrowers reduce their monthly mortgage payments by allowing those borrowers who own greatly devalued homes to refinance into cheaper mortgages.
Currently home owners who own houses that are valued at 32% below their 2006 peak are prevented from refinancing into cheaper mortgages.
In January 2006, the average 30-year fixed rate was 6.07%.
The current rate for 30-year fixed rate mortgages stand at 3.88% meaning refinancing into a cheaper loan would save borrowers around $3,000 per year.
Writing in Chanticleer, Tony Boyd describes the US housing crisis as the “cancer” at the heart of the US economy and says that on some measures it “is worse than it has ever been despite three years of central bank support for the economy”.
According to Boyd, Australian companies with significant operations in North America (including shopping centre group Westfield) and the rest of the world economy have a “vested interest in the US continuing its bizarre treatment of mortgage credit, which combines tax deductible interest payments, no capital gains tax and the ability to refinance fixed-rate loans at no penalty to the borrower whenever interest rates fall”.
Boyd says the practice of non-recourse lending in the US has encouraged a “no-responsibility” approach to home loans that peaked in the years leading up to the sub-prime mortgage crisis in 2008.
“The culture of not having to take responsibility for debts is inherently dangerous,” Body says.
“The results of all that are that America is now stuck with an inventory of about 1.6 million homes that have either been repossessed or are seriously delinquent. About 10% of total US consumer debt of $US11.66 trillion ($10.96?trillion) is in some stage of delinquency, according to the latest figures from the Federal Reserve Bank of New York.
“About two-thirds of the $US1.2 trillion in delinquent debt is more than 90 days overdue.
“Economic recovery was meant to boost housing activity, absorb the inventory and kick-start a lift in housing construction. But the years of low interest rates have not worked.”
 
 
 
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Falling US home sales puts more pressure on global recovery

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The 2,031 properties in the NSW region of Hay had a total land value of $151 million in July 2011, according to NSW Valuer-General Philip Western.
The figure was down 4% from $157 million in 2008.
Residential land values experienced a slight decrease over the three years.
Rural land values also experienced a slight decrease over the three years while year-on-year median prices decreased 3.5% from a median of $64,200 in 2010.
<img src="/images/stories/haymap.gif">
Western found rural residential land in the Hay Irrigation Area and village land in Maude and Booligal had a generally strong decrease in price.
Commercial land also experienced a slight decrease over the three years.
Industrial land values increased slightly from 2008 levels.
Hay landowners and rate-paying lessees received a notice of valuation this month.
The valuations are used by councils to determine rates and taxes for investment property purchases.
Typical residential land values were:
<ul>
<li>2,023 square metres at Lang Street, Hay valued at $29,800 </li>
<li>928 square metres at Meakes Street, Hay valued at $20,600</li>
</ul>
Typical commercial land value was:
<ul>
<li>799 square metres at Lachlan Street, Hay valued at $36,400 </li>
</ul>
Typical industrial land value was:
<ul>
<li>1,447 square metres at Murray Street, Hay valued at $30,000</li>
</ul>
Typical rural land values were:
<ul>
<li>237 hectares at Murrumbidgee River Road, Hay valued at $88,200 </li>
<li>4,079 hectares at Alma Road, Booligal valued at $264,000 </li>
<li>1,621 hectares at Toopuntul Road, Maude valued at $119,000</li>
</ul>
Typical hobby farm land value was:
<ul>
<li>12.8 hectares at University Road, Hay South valued at $68,400</li>
</ul>
Typical village land values were:
<ul>
<li>1,518 square metres at Hay Street, Booligal valued at $2,470 </li>
<li>2,023 square metres at Waratah Street, Maude valued at $3,980</li>
</ul>
 
 
 
<ul></ul>
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awalsh-7Ub9EypybQ

Land values drop 4% in NSW region of Hay in three years: Valuer-General

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American housing prices continued to fall in January, slipping 3.1% on a year-over-year basis. This was their sixth consecutive monthly decline, according to CoreLogic’s latest report.
When the report excluded distressed sales, it found prices fell just 0.9% year-on-year.
Illinois, Nevada, Delaware, Alabama and Georgia were hardest hit by the declines, each falling 7.5% or more over the year, including distressed sales.
Since peak values in 2006, prices in Nevada have fallen the most out of the states surveyed, down 60.1%.
Nationally prices are down 34% from peak values in April 2006, including distressed sales and down 24% excluding distressed sales.
Of the 100 most populated areas surveyed, 71 had year-over-year declines in January, eight fewer than in December.
Including distressed sales, the five states that had the greatest year-on-year increase in prices in January were South Dakota, North Dakota, West Virginia, Montana and Michigan. Prices increased 3% or more in all five.
CoreLogic’s chief economist says housing prices are not far from 2002 levels.
 
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US house prices fell for sixth straight month in January: CoreLogic

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The US share market faced a stark reality check earlier this month, with new data showing that housing prices in 20 major US cities dropped in December to the lowest level since the housing crisis first began in mid-2006.

As the Dow closed above 13,000 for the first time since May 2008, investors were optimistic that consumer confidence data, which showed the strongest sentiment in over a year, was indicative of a strengthening US economy. 
But according to the S&amp;P/Case-Shiller index, home prices in the final three months of 2011 fell 4% from the same period a year earlier. Nineteen of the 20 cities measured saw a year-over-year decline in housing prices, with Atlanta recording a 12.8% drop. Detroit, where prices rose 0.5%, was the only bright spot.
On a monthly basis, house prices dipped 0.5% in December from the prior month after adjusting for seasonal variations. As S&amp;P’s David Blitzer noted, “if anything, it looks like we might have re-entered a period of decline as we begin 2012.”
Although US house prices have already fallen around one-third from their peak, the market looks set for further troubles. An estimated five million houses in the United States have been lost to foreclosure since 2006. But banks look likely to seize more than one million US homes this year. The foreclosure process had been jammed since 2010, but the Obama administration’s recent $25 billion settlement with major home lenders over foreclosure abuses means the banks are now free to resume repossessing houses. As a result, the housing market looks set to be flooded with even more distressed sales, which will drag US housing prices even lower.
But as Robert Reich, the former US Secretary of Labour under President Bill Clinton, points out, the fall in the housing market has dire effects for America’s middle class, which is already squeezed by falling real wages and rising petrol prices. And with consumer spending making up 70% of the US economy, any robust economy recovery must involve America’s vast middle class.
In an article in the Financial Times, Reich points out that because houses are the major assets of the middle class, most Americans are now far poorer than they were six years ago. At present, almost one in three homeowners with a mortgage is now 'underwater', meaning that they owe more to the banks than their homes are worth.
Reich points out that we’re seeing a huge shift in how Americans view their homes. From the end of World War II on, houses were seen as safe investments, because housing prices rose continuously. In the 1960s and 1970s baby boomers took out the largest mortgages they could afford, and watched their homes grow in value.
As he points out, in the housing boom, homes morphed into ATMs, with Americans using them as collateral for additional loans. Most people assumed their homes were their retirement savings. When the time came, they’d sell up, move into a smaller unit, and live off the capital gains.
But plunging housing prices has changed all this. Young people aren’t buying homes anymore, instead they’re renting. They’re no longer confident that they can get, or hold, jobs that will allow them to reliably meet their mortgage payments. Middle-aged couples are underwater, or unable to sell their houses at prices that would enable them to recoup their initial investment. They can’t move to find employment. They can’t retire.
Reich notes that so far the Obama administration has tried to rectify the housing market’s woes by relying on low interest rates, and by making it easier for homeowners who have kept up with their mortgage payments to refinance their underwater loans. But he argues that, in the current circumstances, these steps are simply not enough.
As a result, Reich argues that “the negative wealth effect of home values, combined with declining wages, makes it highly unlikely the US will enjoy a robust recovery any time soon.”
This article originally appeared on<a href="https://www.businessspectator.com.au/" target="_blank"> Business Spectator</a>.
 
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kmaley-9YUCXqEai5

A rotting foundation for US housing

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Friesia, an 1888-built Italian Renaissance-designed Hawthorn house and one of Melbourne’s most captivating residences, has been sold.
The single-storey mansion was designed for the German consul William Brahe by architect John August Bernard Koch, who later designed Labassa in North Caulfield.
It’s been bought by Caulfield North couple Valeri and Irma Danilova. He hails originally from Makhachkala in the Russian Federation and resided in Sydney’s North Bondi in the early 1990s. He heads Australia's Quality Sheepskin Pty Ltd, whose core business is to supply raw sheep and lamb skins to tanners and dressers worldwide from its processing plant at Leongatha North in Gippsland.
The Hawthorn house was last traded in 1970 for $49,000 totally derelict – with no electricity, no hot water, no internal toilet, and the sky could be seen through most rooms.
It was listed by Kay &amp; Burton agent Scott Patterson, who <a href="https://www.propertyobserver.com.au/victoria/hawthorn-house-built-for-19th-century-german-consul-on-the-market/2011101051871" target="_blank">on its listing last November</a> hoped to secure $6.5 million plus.
No sale price has yet been revealed for the property, which was inspired by the works of Filippo Brunelleschi, father of Italian Renaissance architecture in Florence.
From its Corinthian-arcaded entrance, Friesia exhibits the grandeur, glory and grace of Melbourne's magnificent boom period during the 1880s.
It’s been sold by Warwick Forge and his wife, Sue, who have been running the biennial Australian Landscape Conference for 10 years in a bid to bring together creative landscape designers from overseas and Australia.
It is set in the small Isabella Grove enclave near a bend of the Yarra, and a pocket of German high culture was formerly centred on Friesia.
The flow of German immigrants began within 10 years of Melbourne being established in 1835, with vignerons laying the foundations of the Victorian wine industry in the Lilydale and Geelong districts during the 1840s, and many were attracted by gold discoveries in the 1850s.
 
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jchancellor-FAypfDUnLy

Hawthorn home Friesia, built for German consul, sells

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Jellis Craig presents the change in house and unit prices in the inner-Melbourne suburb of Clifton Hill during 2011.
Click to enlarge
<a href="/images/stories/cliftonhillmap.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cliftonhillmapthumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
Numbers in brackets indicate a decrease
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Annual median dwelling price changes in Clifton Hill in 2011: Jellis Craig

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Collingwood’s 2011 Best and Fairest winner, Scott Pendlebury, still hasn’t sold his Newport cottage through Barry Plant Yarraville agent Niels Geraerts. And he’s committed to a $1.3 million Albert Park cottage, which was snapped up post-auction last spring.
His two-bedroom Douglas Parade property – just a stroll to Williamstown’s cafes – <a target="_blank" href="https://www.propertyobserver.com.au/residential/magpie-scott-pendlebury-on-the-move-but-not-to-greater-western-sydney-title-tattle/2011110452216">went to late November auction</a> with $780,000 to $840,000 expectations.
Pendlebury bought it for $567,000 in early 2008.
His latest price guide is between $780,000 and $820,000. The house is being advertised with a sale by set date marketing campaign – with a March 29 desired sale date.
<img src="/images/stories/pendlesnew.jpg">
His Albert Park purchase (pictured above) had previously sold at $1.28 million in 2010. The Albert Park cottage came with the former local dairy outbuilding that had been converted to self-contained office.
 
 
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Magpie Scott Pendlebury still hasn't sold Newport cottage: Title Tattle

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Upgraders will be busy in the inner-Melbourne suburb of Clifton Hill, according to Jellis Craig’s Annual Property Review.
“In 2012 the spotlight will again be on homes in the $900,000 to $1.3 million range as young families look to scale up from smaller single-fronted terraces. We are already seeing increasing numbers of these families at our viewings,” says Craig Shearn, director of Jellis Craig Clifton Hill, in the report.
Click to enlarge
<a href="/images/stories/cliftonhillcomment1.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cliftonhillcomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“Buyers now feel 2012 is the time to move, as should the market move again, the gap between what they own and what they want will only get wider.”
<a href="/images/stories/cliftonhillcomment2.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cliftonhillcomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
He says that in addition to upgraders, investors are also likely to be more active in the Clifton Hill area in the near future.
“We expect a marginal growth in the inner city in early 2012, with the possibility of an increased growth rate later in the year and into 2013. We also expect to see more investors returning to the market as rental returns in the inner city continue to strengthen.”
 
 
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