<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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<a href="https://www.propertyobserver.com.au/economy/when-harry-met-steve-a-bears-breakfast/2011091551566" target="_blank"><img src="/images/stories/40percent.jpg"></a>
The amount by which economist Steve Keen thinks Australian property prices will fall from their peak in the next 10 to 15 years. In October Keen said he expected prices to drop 20% by the end of 2013. We're sure discussions about house prices were on the agenda <a href="https://www.propertyobserver.com.au/economy/when-harry-met-steve-a-bears-breakfast/2011091551566" target="_blank">when the hometown doomsayer met noted American demographic analyst Harry Dent for breakfast in Sydney</a> in September. Both have similar views on the direction of Australia’s property market. Dent predicts the world will experience a second, deeper downturn, starting in the first half of next year in Europe, and spreading to the United States, China and eventually Australia. It was a true bears' breakfast, with not a bull in sight. 
 
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<a href="https://www.propertyobserver.com.au/residential/house-prices-will-be-55-higher-in-a-decade-christopher-joye/2011082551288"><img src="/images/stories/55percent.jpg"></a>
 
On the other hand, Keen's longtime sparring partner, economist Christopher Joye, has just about the opposite prediction. <a href="https://www.propertyobserver.com.au/residential/house-prices-will-be-55-higher-in-a-decade-christopher-joye/2011082551288" target="_blank">Joye says that house prices will be 55% higher in a decade</a>, a figure he came to based on a survey of 21 leading economists. While the current leverage in the household system cannot realistically increase much further, it is sustainable, he says.
 
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<img src="/images/stories/8point5m.jpg">  The amount that South Korean-backed <a href="https://www.propertyobserver.com.au/residential/nicole-kidman-now-has-cockatoo-coal-as-her-near-neighbours-after-mining-giant-pays-record-price-for-sutton-forest/2011111552361" target="_blank">Cockatoo Coal mining company paid for a Sutton Forest property</a> near Nicole Kidman and Keith Urban's peaceful NSW retreat in October. The company bought the 425-hectare holding through shelf company Aurelius Rural, to ensure the secrecy of its strategic purchase. Locals say Urban and Kidman's peace and quiet may be at an end. "It will directly affect their (Bunya Hill) property, as coal-filled trucks would be passing all day long and maybe through the night on their way to Wollongong for export," local Greg Barnsley has suggested. At least Bunya Hill itself was given a reprieve, as Cockatoo Coal <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nicole-kidman-s-highlands-retreat-given-reprieve-%E2%80%93-for-now-%E2%80%93-as-coal-company-shifts-exploratory-holes/2011062850631">decided to relocate its drill holes</a> meant <a target="_blank" href="https://www.propertyobserver.com.au/news/new-south-wales/coal-mine-anxiety-for-nicole-kidman-s-sutton-forest-property/2011062150555">for the perimeter of Urban and Kidman's property</a> to 200 metres away. 
<hr>
 
<a href="https://www.propertyobserver.com.au/residential/domenic-alveros-smallest-house-in-surry-hills-rises-to-win-international-prize/2011110352199" target="_blank"><img src="/images/stories/42sqm.jpg"></a>
The <a href="https://www.propertyobserver.com.au/residential/domenic-alveros-smallest-house-in-surry-hills-rises-to-win-international-prize/2011110352199" target="_blank">lot size of Surry Hills' smallest house</a>. Architect Domenic Alvaro conceived of the house after buying three car spaces on a corner in Surry Hills and building a five-storey house above it. It comes with a floor space of 220 square metres. The house, known as Small House, was awarded the World House of the Year at the prestigious 2011 World Architectural Festival award ceremony in Barcelona in early November. 
 
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<a href="https://www.propertyobserver.com.au/australian-capital-territory/of-15000-suburbs-21-rise-to-the-top-as-worth-a-look-for-investors/2011072750933" target="_blank"><img src="/images/stories/21.jpg"></a>
 
The number of suburbs that appear on both Australian Property Investor and Your Investment Property magazines' <a href="https://www.propertyobserver.com.au/australian-capital-territory/of-15000-suburbs-21-rise-to-the-top-as-worth-a-look-for-investors/2011072750933" target="_blank">lists of top 100 suburbs for property investors</a>. Alphabetically they start with<a style="font-size: 14px; text-align: left;" href="/news" title="Ainslie" target="_blank">Ainslie </a>in the ACT and end with Warrnambool in Victoria. The lists represents the shared outlook of some two dozen or more of the property industry talking heads. The YIP top 100 was made up of 25 suburbs in Sydney, 12 from Melbourne, seven from Perth, eight from Adelaide, five from Canberra, three from Hobart, two from Darwin and 26 from regional areas. In the API list, 17 out of the 100 hotspots are within a few kilometres of the Melbourne CBD.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195"><img src="/images/stories/410k.jpg"></a>
The sale price of a <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195">Western Australian house sold by Nigerian scammers</a> in April. The scam? The vendors were not actually the owners of the house. The snappily sold house (the marketing said “FIRST TO SEE WILL GRAB IT!”) was done so without the knowledge of the landlord owner, who has since complained to the fraud police. The unknowing buyer has also complained to police as being caught in the scam. But you can't say the scammers were out-and-out liars – the marketing did say "LOOKS CAN BE DECEIVING!" 
 
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<a href="https://www.propertyobserver.com.au/news/bank-s-blacklist-bans-finance-for-373-buildings/2011091251504" target="_blank"><img src="/images/stories/373.jpg"></a>
The number of buildings on an <a href="https://www.propertyobserver.com.au/news/bank-s-blacklist-bans-finance-for-373-buildings/2011091251504" target="_blank">unnamed bank's "blacklist" that surfaced in September</a>. The blacklist names buildings for which the unnamed bank bars or severely restricts intending purchasers from obtaining finance. The list also includes projects in the federal government's National Rental Affordability Scheme. NAB, ANZ and Westpac all denied having a "blacklist", and the Commonwealth Bank said although it had a "watch list" it also did not have a "blacklist".
 
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<a href="https://www.propertyobserver.com.au/residential/investor-club-couple-prepared-to-meet-gold-coast-property-price-reality/2011091451546" target="_blank"><img src="/images/stories/391k.jpg"></a>
 
The sale price achieved for a Queensland property at the centre of a legal dispute between a <a href="https://www.propertyobserver.com.au/residential/queensland-property-investors-sue-over-what-they-say-is-inflated-price/2011082651304" target="_blank">WA couple and investment advisory service The Investors Club</a>. Hugh Wilson and Marilee Coombs are suing The Investors Club and two employees after they were convinced to purchase a unit that they claim they later discovered was grossly overpriced.  The property <a target="_blank" href="https://www.propertyobserver.com.au/residential/investor-club-couple-prepared-to-meet-gold-coast-property-price-reality/2011091451546" style="font-size: 14px; text-align: left;">reputedly cost $630,000</a> when the couple bought it in 2007, but official records show a public sale price of $905,000. Two attempts at mediation between the parties failed, and the case is listed for trial.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/auctions/deceptive-toorak-auction-aftermath-and-the-silver-mercedes-that-almost-got-away/2011102152024"><img src="/images/stories/2point7m.jpg"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/auctions/deceptive-toorak-auction-aftermath-and-the-silver-mercedes-that-almost-got-away/2011102152024">price Dr Chris Moss and his wife, Andrea John, paid for a Toorak property</a>. RT Edgar agent Greg Herman told them he had received a bid of $2.6 million from an underbidder named "Tom", who wore a pink shirt and drove a silver Mercedes. Unluckily for Herman, John flagged down a silver Merc and asked its driver, who happened to be named Tom Kartel, what he had bid for the property. Kartel said he had made no such bid. Justice Tim Ginnane found that the agent had been deceptive and had fabricated an underbid in order to achieve a higher sales price. But for that silver Mercedes, Moss and John probably would have paid the $2.7 million and gotten on with things, but as things turned out, the court found in their favour and they were <a target="_blank" href="https://www.propertyobserver.com.au/residential/plastic-surgeon-wins-court-case-against-deceptive-toorak-estate-agent/2011102052011" style="font-size: 14px; text-align: left;">awarded the $200,000 difference.</a>
 
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<a href="https://www.propertyobserver.com.au/residential/property-developer-warren-anderson-goes-quietly-this-time-departing-fernhill-after-three-decades/2011112452520" target="_blank"><img src="/images/stories/2point8m.jpg"></a>
The price once swashbuckling Western Australian property developer – whose fortune was estimated at $190 million by BRW in 1989 – paid for his beloved Fernhill, the western Sydney rural estate <a href="https://www.propertyobserver.com.au/residential/property-developer-warren-anderson-goes-quietly-this-time-departing-fernhill-after-three-decades/2011112452520" target="_blank">he was forced to vacate in November</a>. Anderson had been seeking to overturn bankruptcy proceedings against him but lost his bid the day after he left Fernhill – rendering him <a href="https://www.propertyobserver.com.au/residential/warren-anderson-homeless-and-bankrupt/2011112552549" target="_blank">bankrupt and homeless in the selfsame week</a>. <a href="https://www.propertyobserver.com.au/residential/fax-of-the-case-gives-warren-anderson-reprieve/2011090651440" target="_blank">An errant fax</a> had given Anderson a reprieve in his bankruptcy case, but in the end the Perth federal magistrate’s court rejected<a style="font-size: 14px; text-align: left;" href="https://www.propertyobserver.com.au/western-australia/warren-anderson-seeks-to-overturn-bankruptcy-and-stay-put/2011081251141" target="_blank"> his request to have the bankruptcy annulled</a> after creditors owed more than $39 million blocked the attempt.
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cknowlton-QnEa6ntUYP

The top 10 property numbers of the year

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<iframe src="https://www.youtube.com/embed/wX8CRvG6Nb8" frameborder="0" width="470" height="264"></iframe>
In keeping with the holiday spirit, billionaire hedge fund philanthropist Paul Tudor Jones has once again shared his Christmas light extravaganza with the public at his waterfront home in the Belle Haven section of Greenwich, Connecticut overlooking Long Island Sound.
Jones, one of Wall Street's legendary hedge fund traders, has done so since 2000.
Susie Costaregni at The Dish column in <a href="https://www.greenwichtime.com/local/article/Keeping-up-with-the-Jones-Billionaire-lights-up-852217.php" target="_blank">greenwichtime.com</a> wrote last weekend it was on again. His daughter Caroline features singing in this year's presentation.
In 2010 it was <a href="https://blogs.wsj.com/metropolis/2010/12/17/how-a-billionaire-does-christmas-lights/" target="_blank">featured on the Wall Street Journal website</a> and on <a href="https://www.youtube.com/watch?feature=endscreen&amp;NR=1&amp;v=Vep5vnNGfio" target="_blank">YouTube</a>.
His family occasionally spend Christmas Down Under since they bought the $7 million hillside Bronte house sold by the actor Heath Ledger in 2006. It’s the summer base for Jones and his Sydney-born wife, former model Sonia Klein, when visiting her family and taking in the sun at Palm Beach.
The Jones clan flew to Australia for the 2004 summer, hiring six houses at Palm Beach, and are tipped to be heading down this year too.
He’s currently ranked by the Forbes Rich List as the world's 107th richest person with a $US3.2 billion worth and met his future wife after she won the 1985 Cosmopolitan Look of the Year model competition and was rewarded with a two-year modelling contract in New York. The couple now have four children.
Jones founded the New York City poverty-fighting Robin Hood Foundation.
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jchancellor-FAypfDUnLy

Billionaire Paul Tudor Jones' Christmas light extravaganza

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According to research by Roy Morgan, Australians’ appetite for wine hit a four-year low in November 2011. 
The researchers could just have easily been speaking about local appetite for Australian vineyards.
 
The past 12 months have been one long hangover for wine property owners, characterised by forced sales and offshore buyers (particurlarly those from Asia), picking up once-prized Australian vineyards at bargain prices. 
The year looks set to end in the same fashion as it begun, with the Step Road Winery in Langhorne Creek South Australia the latest vineyard put up for sale by receivers, with Colliers handling the sale. 
In September Herron Todd White reported that any vineyard sales that have occurred have generally been forced sales and have shown no added value for the vines.
“In fact in many cases the vines were earmarked for removal,” says HTW.
“The problem remains the massive oversupply of wine in Australia and across the world, which is anticipated to continue for at least the next few years and could well extend beyond this unless there are significant reductions in the number of vineyards, particularly in the cooler climate regions.”
Fortunately, not all reports are as gloomy.
In a recent agribusiness and rural report, Colliers said the market had had hit rock bottom, meaning prices were likely to start heading up next year
“Property values in the wine/vineyard sector have been hit the hardest and are now well and truly at the bottom. There has been a significant amount of restructuring here and not just portfolio sell downs but demergers and consolidations,” the report says.
“Most of this is now complete… This sector should re-emerge in a stronger position in 2012 as it begins to consolidate. At this time, some expansion may occur as selective institutional investors reconsider increasing their exposure to the sector.”
One of the most significant forced sales of the year has been the <a target="_blank" href="https://www.propertyobserver.com.au/rural/shareholders-approve-cheviot-kirribilly-vineyard-sales/2011120652715">offloading of the vineyard portfolio of ASX- listed Cheviot Kirribilly Vineyard Property Group</a>.
Four of the six vineyards put up for sale by the indebted group in July this year will be sold by January 2012 for a combined value of $8.8 million, with bulk wine producer Yellow Tail thought to be the buyer.
Announcing the proposed sales, Cheviot chairman Sean Edwards highlighted the scale of the problems facing the group, and the industry as a whole, by describing the recent market environment in grape growing as “catastrophic”.
Edwards says that between 2008 and 2011, the price per tonne earned for its grapes fell by 43%, resulting in a 59% decline in revenue.
“There are very few fixed-cost businesses, with a level of financial gearing that can survive the type of change. Unfortunately we are no different.”
While the Cheviot vineyards are set to be acquired by an Australian producer, Asian and other offshore buyers have been prominent in other locations.
In November, Hong Kong-listed CK Life Sciences International acquired a South Australian vineyard from an Orchard Funds Management vehicle for $10.6 million. 
CK Life Sciences already has a strong footing in the local market, having acquired a controlling stake in the Challenger Wine Trust, Australia’s second­ biggest vineyard owner, for $33 million in December 2010.
In September, Chinese businessman Genghua Lin snapped up the <a target="_blank" href="https://www.propertyobserver.com.au/rural/hunter-valley-vineyard-a-golden-opportunity-for-chinese-buyers/2011091351525">Golden Grape Estate winery and restaurant at Pokolbin</a> in the lower Hunter Valley of New South Wales for $2.8 million while in July, a Chinese investor spent about $2.7 million on <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/windsor-s-edge-vineyard-bought-by-chinese-investor/2011072450894">the Hunter Valley vineyard Windsor’s Edge</a>, with the buyers keen to shore up supplies of wine for bottle shop or liquor distribution in China.
According to PRDnationwide NSW research manager Oded Reuveni Etzioni the Hunter Valley has proved popular with “private Chinese tycoons who have been purchasing properties with the intention to produce their own wine label”.
Reuveni Etzioni says China, Korea and Japan have been the main players in the Hunter Valley, with the UK and US investing in larger properties in central NSW, and Swiss companies such as Glencore acquiring land around Bogan, the Riverina and Murray regions.
The most notable distressed listing remains the <a target="_blank" href="https://www.propertyobserver.com.au/rural/vineyard-sales-bring-grape-expectations-from-asian-investors/2011062750626">historic Pettavel and Strathmore vineyards</a> near Melbourne, which are being sold by Knight Frank agents Michael Hede and Leigh Morris on behalf of receivers and were listed nearly six months ago.
Hede expects a price of between $5 million and $6 million for the Pettavel Vineyard and between $2 million and $3 million for the Strathmore Vineyard, both about 70 kilometres from Melbourne, but both have failed to find a buyer since being listed for sale in mid-July.
If Colliers predictions about a turnaround in fortunes in 2012 prove true, the vineyards may find a buyer in 2012 – and don’t bet against it being an offshore investor.
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lschlesinger-FZcF9M3vE6

Year in review: 2011 not a fine vintage for vineyards 

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2011 was the year that the capital city prestige residential prices went backwards. No dramatic forced sales yet, just plenty of luxury listings with unrealistic prices that languish unsold.
There were some negative directional price indicators emerging – although that said, there's still the occasional sales that suggests not everyone's caught in the downturning market.
But there have not been the stellar prices.
And a few who've been around long enough sense it is reminiscent of those final months of the late 1980s – sales such as Rona's bullish $9.6 million snuck through by the late Double Bay sales doyen Ron Pillinger – which within months in 1990 had turned decidedly bearish for a long time.
Some savvy 2012 buyers are waiting in the wings, understandably hesitant in part because of the international economic headwinds, but also for want of price comparables. Realists expects top-end prices will pretty much remain clipped until the financial services industry returns to its heyday, such is the interconnectivity between share market excess and a rampant prestige property market.
In the meantime, top-end prices have come back 30% from peak levels.
<img src="/images/stories/sydneytopsale.jpg">
Certainly in Sydney you know it’s an off year when a non-waterfront house (pictured above) takes the prize as the year's top sale at just $21.5 million.
Although of course the actual highest Sydney spender was the entreprenuer Brett Blundy, who bought two adjoining Vaucluse properties, including one on Kutti Beach, for a $25.7 million total.
But all credit to estate agent Alison Coopes who secured the $21.5 million deal when Hong Kong buyers bought on the Vaucluse hillside from John and Jo McNiven.
Some things remain constant, as it comes with a Howard Tanner-designed residence – he's forever getting the priciest design commissions and secured 2010's top sale. This year's top sale was built after the 1,981-square-metre block cost $3,925,000 in 1996.
Until we know officially what price Albert Bertini got in Balmoral - its reputed $18.5 million sale, reflected a let-off lightly 17% price drop, the reward for living next door to billioniare buyers - the second-highest known Sydney sale was $18.5 million on the Point Piper harbourfront. The Wolseley Road residence sold through Christie's International agent Ken Jacobs and LJ Hooker Double Bay's Bill Malouf to Gelatissimo vendors. The five-bedroom Philip Thalis-designed Wolseley Road house on 1,100 square metres had been listed with another agent in distant November 2008 with $32.4 million plus expectations. So make that 40% off, and a serious meltdown although it was only one agent's folly of a record-setting price expectation.
<img src="/images/stories/towersrd3.jpg">
Nothing happened saleswise in Melbourne's Toorak during 2011 – with two Towers Road listings going unsold (1 Towers Road pictured above)  – which has therefore left the $26 million Portsea record intact.
<img src="/images/stories/dalkeith.jpg">
So Perth took 2012 honours with the $39 million sale of the former Dalkeith mansion built for the 1980s entrepreneur Alan Bond. The seven-bedroom riverfront mansion set across six titles totalling 6,417 square metres (pictured above) sold through Mack Hall, of Mack Hall Real Estate.
The Swan River mansion was bought by the mining entrepreneur Steve Wyatt and his wife, Sue and was sold by businessman Barry Patterson, who was Sonic Healthcare chairman from 1999 to 2010. The gold mining magnate Ross Atkins had bought the property in 1993 from the Bond family trust company, Armoy Pty Ltd, for $7.3 million, selling it six years later to Patterson after extensive renovation for $9.5 million, which was to stand as Perth’s record for seven years until 2006.
Of course Wyatt’s business associate Chris Ellison set the WA real estate record when he paid $57.5 million for iron ore heiress Angela Bennett's riverfront property in Mosman Park in 2009. The 7,567-square-metre estate sold through Willie Porteous of William Porteous Properties International.
Wyatt and Ellison set up Crushing Services International Pty Ltd, which operated ore-crushing plants for mining companies.
Estate agents ought to set up Crushing Expectations Locally Pty Ltd, as there aren't going to be many sales next year unless the discretionary vendors are told the truth about the new pricing levels.
{yoogallery src=[images/stories/december23sydneytop]}
And in the meantime the good old listings hang around, none more so than Altona (pictured above), on the harbour's edge at Point Piper. Deke and Eve Miskin are in residence, still seeking somewhere upwards of $50 million, perhaps rueing they never took the $55 million offer in 2007 by the shopping centre scion David Lowy and his wife, Margo.
Oh how the tide has turned as at the time the 2007 prestige market was also paralysed – not for want of big-pocketed buyers, but by sellers fearful of selling too cheaply as no high end-sales had exceeded Altona's $28 million record set five years earlier in 2002.
Of course there were very soon some benchmark sales with the horse breeder Warwick Miller selling Routala, Point Piper to the Fell family, which briefly held the Australian record at $28.7 million in 2007 through Bill Malouf from LJ Hooker Double Bay in conjunction with James McCowan and Greg Carr from Richardson &amp; Wrench Double Bay.
Then Coolong, the stately Vaucluse harbourfront house was sold by Allco founder David Coe to Ivan Ritossa, global head of foreign exchange at Barclays Capital, in 2008, for $45 million through Hamish Robertson from McGrath in conjunction with the veteran agent Bill Bridges.
In 2009 Perth chimed in when Angela Bennett sold at $57.5 million but that was really a compound and not the typical single dwelling.
<img src="/images/stories/villaveneto1.jpg">
Back in Sydney in 2010, Villa Veneto (pictured above and below), the grand Italianate villa in Point Piper with a 21-person lift, sold for $52 million after being listed with expectations of $60 million.
<img src="/images/stories/villaveneto2.jpg">
The luxury Villa Veneto was finished in 2004 after two years building to a design by Michael Suttor. The five-level house cost Andrew and Andrea Banks a reputed $15 million, having consolidation of the 1,424-square-metre double block for $14 million in 2001.
Its August 2010 sale – reported by me within seven days – is mired in intrigue given the official viewable paperwork dating the deal as December 2010 suggests just a $44 million transfer. But those in the know stick with the $52 million sale tag, presuming the deal was either front- or back-ended by an $8 million amount. And those who reckon it’s $44 million probably have ulterior motives.
Anyway Altona's next sale will be the sixth in my memory, which dates back to Christmas 1986, when Peggy Moore was in two minds about shutting up her exclusive antipodean pensione for international celebrities. Moore felt guilty about selling Altona, her century-old Point Piper waterfront mansion, shutting the door on entertainers Max Bygraves and Ronnie Corbett, singers Dame Vera Lynn and Dame Kiri Te Kanawa, even the ice-skating pair Jayne Torvill and Christopher Dean.
It was $180 a night for serviced apartment in the two-storey Georgian mansion – complete with jetty, pool, cabana and views of Shark Island and the Harbour Bridge, and given it was pre-paparazzi the only barking came from her two dogs, Sydney-silky Eliza Jane and pekingese Beau.
<img src="/images/stories/lyndsay1.jpg">
Altona was joined on this year's prestige listings by an overly ambitious waterfront asking price at Darling Point (pictured above and below). It’s Sir William Tyree's 1,800-square-metre Lindsay Avenue property at the tip of Darling Point and next door to Glanworth, owned by the media tycoon Kerry Stokes.
<img src="/images/stories/lyndsay2.jpg">
Sir William bought it in 1967 for $170,000 from the estate of Margaret Wirth of the Wirth Circus family.
Maybe 18 months ago it was doable, but now it would take an estate agent's best conjuring expertise to secure the suggested $50 million-plus hopes. And the $40 million estimate suggested by Title Tattle might also be over the odds.
Probably all depends on Kerry Stokes's patience, acquisitorial generosity and someone else who wants to make a play for their own piece of the harbour.
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Capital city prestige markets went backwards in 2011: Title Tattle

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Da-yangyu, the first island ever to be put up for auction in China, sold last month for 20 million yuan ($3 million). Ningbo Gaobao Investment, which deals in real estate and tourism development, won a three-way bidding war for the right to use the land for 50 years and build a luxury resort.
The <a target="_blank" href="https://202.108.9.138/news.jsp?fileId=121272">start bidding price was set at 15 million yuan</a>, with the tourism development companies required to have had a registered capital of 50 million yuan or above.
<a target="_blank" href="https://202.108.9.138/news.jsp?fileId=121272"><img src="/images/stories/chineseisland.jpg"></a>
Covering an area of 0.258 square kilometres, Dayangyu Island is 300 metres far from the mainland.
"It has rich natural resources, especially in vegetation and seafood, and it's a great spot for sailing on the big, blue sea," buyer Yang Weihua, general manager of Ningbo Gaobao, said.
She advised her company would invest about 500 million yuan into the project, but declined to reveal more details. The losing bidders for the island were Xiangshan Tourism Group and Xiangshan Movie Development.
Dayangyu Island, which lies off the coast of Ningbo in Zhejiang province, was once an orchard and hunting site.
It is among the first batch of 176 uninhabited islands made available to domestic and foreign developers by the State Oceanic Administration.
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Year in review: first Chinese island ever auctioned sells for $3 million

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There will continue to be infrastructure growth, new developments and rental yields of 5% to 6% in greater western Sydney. Investors will continue to head west, lured by affordable property with high returns and higher stock levels.
Sydney is a tale of two cities
Until now Sydney buyers have pooled greater western Sydney into the same market as Sydney, but this perception is beginning to change. Greater western Sydney cannot be regarded as the same economy as inner Sydney or the northern beaches. The development boom, the buyer and seller mentality here – and hence the property data – is very different from the rest of Sydney.
We are seeing commercial epicentres emerging here – negating the need for residents to commute to the CBD. New suburbs and shopping districts are appearing, businesses are establishing and settling out here, the M2 motorway is expanding, new and expanded train stations are emerging, and so are large master-planned developments. No other area in Sydney is seeing that amount of change so quickly.
Investors are realising it – and their presence in the area is growing. Rental yields have averaged 5% to 6% here, in comparison to Sydney’s inner west, where they are 3% to 5%. This kind of strong rental yield will continue in 2012, assuming the economy will remain stable.
Hot suburbs to watch
Infrastructure growth and new developments are indicators of good rental yields and capital growth for those areas. Suburbs to watch out for include:
•             The Ponds (west of Kellyville): High-quality housing is being developed on a large scale, and this is tipped to be an upmarket area. In November, the $8.5 million landmark Eastern Playing Fields precinct opened. Nearby, Schofield train station has been relocated and expanded. In addition, my belief is that the north-west rail link will have to happen, further benefitting these areas.
•             Schofields and Riverstone: A significant amount of land has been released here with quality developments; a major part of the M2 is being widened to three lanes; and a planned Woolworths in Schofields is pointing to the growth of these suburbs.
•             Oran Park and Edmondson Park: These are large new suburbs. Edmondson Park is conveniently at the junction of the M7 and M5 corridors and will have a new train station linked to the airport and East Hills lines by 2016.
•             Pemulwuy: There have been significant sales in this new suburb by our new Pemulwuy office. In 2010 there was an 11.5% increase in the median house price, and 2011 a 5.6% increase. In October, median house prices were 8% higher than the median house price for the Holroyd area.
Off-the-plan sales to grow
Off-the-plan sales are already at a high due to the wave of savvy overseas investors. Often entire developments are purchased off the plan quickly. That’s where local buyers are missing out. Investors overseas know it’s a safer investment here and are also comfortable buying off the plan. Often, by the time a development is completed these investors have made tens of thousands of dollars on their purchase price.
Local investors are likely to soon change their mentality and realise that off the plan is the way of the future in the greater west. Developments also offer warranties, making the investments as safe as a second-hand property. The challenge is for local buyers to get in there before overseas investors snap up future developments.
Douglas Driscoll is CEO of <a href="https://www.starrpartners.com.au/" title="Starr Partners" target="_blank">Starr Partners</a>.
 
 
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Greater western Sydney market to go from strength to strength in 2012

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Consolidation in the property valuation space has continued, with WBP Property Group acquiring Adelaide-based Mason Gray Strange Real Estate Valuations (MGS).
The acquisition follows <a href="https://www.propertyobserver.com.au/residential/valuers-must-diversify-to-survive-wbp/2011120552674" target="_blank">WBP forming an alliance with Queensland-based firm Herriots</a> earlier this month.
Pabst says the MGS acquisition is part of the company’s strategy to diversify its services and expand its national footprint.
He says that the Australian valuation industry is rapidly evolving and estimates only a handful of national valuation groups will be in operation in the future.
“At WBP we have embraced the changing face of the valuation and property industries in Australia and identified early opportunities to expand and develop our business in the valuation and property advice space,” he says.
The MGS acquisition will strengthen WBP’s position in the Adelaide market.
Under the arrangement MGS Valuers will commence trading as WBP Property Group from January 1st 2012. MGS director Chris Wakeham will continue to manage the business locally alongside WBP state manager for South Australia Bart Quinn.
 
 
 
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WBP adds  South Australian valuer MGS to growing stable

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<img src="/images/stories/boulevard3.jpg">
Homes from Ivanhoe in Melbourne are regularly featured internationally given their Christmas decorations.
<img src="/images/stories/boulevard4.jpg">
The blightly lit Ivanhoe houses centre around <a target="_blank" href="https://www.youtube.com/watch?v=uGCbyIkO3GI">The Boulevard</a>. It's reportedly a tradition that dates back six decades, with locals Bill King and George Whitelaw reportedly beginning the elaborate light displays in the 1950s.
<img src="/images/stories/boulevard5.jpg">
An estimated 100,000 visitors come to see the decorations every year. 
<img src="/images/stories/boulevard6.jpg">
Photos by Kelvin Cheong
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Ivanhoe's The Boulevard renowned for Christmas lights

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Rural property listing site Farmbuy.com is now selling rural properties from Elders Real Estate.
Farmbuy.com is Australia's largest dedicated rural property listing site, with more than 13,000 rural and lifestyle properties listed and more than 50,000 visits every month.
Elders started listing on December 1 and now has 1,500 to 2000 properties on the site. This represents about 60% of Elders’ properties, and this is expected to increase by the end of the month.
Elder is the biggest agency by sold value on the website. First National Networks lists the most properties, but these are mostly lifestyle properties under two hectares according to Farmbuy.com founder Philip Sondhu.
After starting up in 2009, the site has approximately 450 agencies advertising through the site. It generates revenue from monthly agent subscriptions and display advertising from companies looking to reach an Agribusiness audience.
Elders sold 8,338 properties for a combined total value of $3.23 billion in the 2010 financial year.
“We've been lucky to have had great support over the journey from Australia's major agents and have been pushing hard to feed our users more properties. Now with Elders, arguably Australia's largest rural agent network,  we give our user base more choice, more rural property and therefore assist them further in finding a rural property which suits their needs,” says Sondhu.
The website has also signed a preferred supplier agreement with the LJ Hooker franchise network.
Sondhu says this is a more difficult task considering the agency is entirely franchised.
“As of two weeks ago we’ve signed a deal with them… We’re expecting a whole bunch of them to come on the next month or two,” he says.
Sondhu is confident many bigger agencies will start listing.
“The next cab off the rank should be the Ray White network.”
The website launched nationwide in 2009 as the only dedicated rural property site. The first companies to list with them were First National Rural Company and Landmark Property.
“The agents really liked it. It addressed something realestate.com.au and domain.com.au weren’t doing.”
 
 
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Elders Real Estate signs deal with rural listing site Farmbuy.com

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Birchwood Consolidated, the developer of the new 26-level Equus development in the Perth central business district, has entered administration, as Master Builders Western Australia notes that smaller builders are being hit by reduced demand for small projects.

The Perth-based company appointed a receiver and manager last week. KordaMentha partner Craig Shepard, who has worked on Lincraft, Timbercorp and Enviroinvest, got the job.
Shepard was in Perth this morning and could not be contacted before deadline. He is quoted in the Australian Financial Review saying the project was high-quality, but marred by higher costs and subdued demand.
The development, which comprises apartments, commercial suites and a ground-floor shopping arcade, was completed earlier this year.
It has called itself "Perth's newest and most exciting development" and an "overwhelming success that has exceeded the expectations of all involved".
Michael McLean, director at Master Builders Western Australia, says he was aware that the Equus development had some problems, including unions' issues with foreign labour.
But he stressed that he was not aware of the reason for Birchwood's collapse, such as a lack of pre-sales or project delays or price increases.
McLean adds it's been a difficult year for the building industry, with small- and medium-sized businesses and projects hit harder than their larger counterparts. Financing is also a problem for small operators, McLean says.
"The number of small to medium jobs have reduced," McLean told SmartCompany this morning. "The tender lists been more competitive and it's more difficult to win work."
But McLean predicted 2012 would be an improvement on this year, citing a number of projects coming on-stream and the healthy civil engineering sector.
"The industry is going okay; the turnover of work being carried out by the industry is reasonable in an historical sense."
CBRE this morning said that the WA residential market "remains in the midst of a slowdown punctuated by falling levels of buyer activity".
CBRE Global Research and Consulting Manager Sam Reilly said owner-occupiers and investors were held back by concern on the global economic outlook.
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
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