International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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North facing, affordable, and excellent on-site amenities were some of the priorities on first home buyer Lisa Luong's list. Lisa used Urban as a research tool before purchasing her dream property at R.Iconic. 

Having been on the home buying journey recently, we asked Lisa what advice she would have for buyers who are considering Melbourne's exciting new development, R.Iconic.

Apartments.com.au: Which apartment configuration did you opt for, and what led you to narrow down your decision to the apartment you have purchased?

Lisa Luong: I purchased a one-bedroom apartment at R.Iconic that has its own study. While the project has some awesome work spaces scattered throughout it, I wanted access to my own private working area but this had to be separate from my bedroom! Another big drawcard which led me to purchasing at R.Iconic was the availability of north-facing apartments within my price range. Lots of natural light is a must-have for me and I am really happy with the apartment I was able to secure.

U: Were you already looking for property when you discovered R.Iconic?

LL: I had been window shopping for a little while before I found R.Iconic and started to think seriously about purchasing my own place. I felt like there was always something missing from the different apartments I was enquiring at before coming across the project – this was usually due to size or configuration. R.Iconic was very reasonably priced in comparison to projects in similar inner-metropolitan areas, and the purchaser incentives available, like the HomeBuilder grant, was definitely something which helped me reach my decision.

<figure><a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne"><img alt="" class="image-article_full_width_580px" height="354" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/riconic-melbourne-253-273-normanby-road-south-melbourne-2d21669256a3bb69584a6a2b128cdaed.jpg?itok=sInST2qk" title="R.Iconic communal rooftop garden" width="580"></a>

<figcaption>R.Iconic communal rooftop garden</figcaption></figure>U: Since this is your first property purchase, how did you find the due diligence research and purchase process?

LL: I actually found the due diligence process quite complicated. Apartment conveyancing can get pretty tricky at the best of times as there is a lot of paperwork to familiarise yourself with and complete. Thankfully the R.Iconic sales teams were really supportive throughout this process and helped me with all my enquiries.

U: What advice would you have for other first home buyers?

LL: My first piece of advice to other first home buyers would be to write down all the questions you have and make sure these are answered before committing to your purchase. Like most people out there, buying a new home is a huge investment, so I wanted to be absolutely certain the apartment I was looking at R.Iconic was the right one for me. I would also encourage first home buyers to do as much research as they can – believe it or not, I actually jumped onto Apartments.com.au during my research phase which was really insightful!

<figure><a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne"><img alt="" class="image-article_full_width_580px" height="341" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/riconic-melbourne-253-273-normanby-road-south-melbourne-155e09fe7a5266ce1214465eb07766de.jpg?itok=--PtEh29" title="R.Iconic's luxurious swimming pool" width="580"></a>

<figcaption>R.Iconic's luxurious swimming pool</figcaption></figure>U: What do you love most about what R.Iconic has to offer residents?

LL: The extensive list of amenity has something for everyone and the development’s convenient location in the CBD South precinct is perfect for city workers who want to be close to the office but out of the hustle and bustle of everyday city-living.

U: Did you have a set of criteria that your first home had to meet?

LL: I was looking for apartments with great amenity in up-and-coming areas, however I did not want to buy in a spot that was super busy. This meant living in the heart of the city was off the cards for me as I think it is too congested. Instead, I wanted to live in a residential area closer to established homes and in a great neighbourhood – R.Iconic definitely met this criteria!

U: What was it like negotiating with the sales agent and the team at R Corporation?

LL: All my dealings with the R.Corporation team were great! They would always answer my enquiries in a timely manner and did so in a straightforward way that was simple to understand. My questions and requirements were always paramount when dealing with the development and sales teams which made the complexities of purchasing my new apartment a lot easier.

<figure><a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne"><img alt="" class="image-article_full_width_580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/riconic-melbourne-253-273-normanby-road-south-melbourne-fc17fc67f571260438f31e4c62098cf3.jpg?itok=igFT1qon" title="R.Iconic's resident lounge" width="580"></a>

<figcaption>R.Iconic's resident lounge</figcaption></figure>U: What made you decide to buy off-the-plan rather than an existing dwelling?

LL: Something that ultimately shaped my decision to buy off-the-plan at R.Iconic was how much value you get for your money. The project is absolutely packed with useful everyday amenity which made it stick out from the other apartment candidates I was considering at the time. R.Iconic’s HomeBuilder grant eligibility was another key component which helped shape my decision to purchase off-the-plan at the project – I did not know apartments could even be eligible for this until the development and sales teams told me!

U: R.Iconic has a pretty impressive on-site amenity list. Which amenity is your favourite? 

LL: I cannot wait to get into the listening room at R.Iconic! I am a big fan of all things classical music and was so excited when I saw this space on the list of amenity at the project. It is such a great idea and it will be a good way to meet new people. I am also looking forward to getting my fitness levels up around the outdoor new running track. I love how this has been integrated into the project’s design and hopefully it will get more people outdoors and breaking a sweat!

<a href="/news/urbans-tour-of-the-r-iconic-display-suite">Watch Urban's tour of the R.Iconic display suite.</a>
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Olivia Round

Why Melbourne's R.Iconic was a first home buyer's apartment of choice

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From 1 January to 31 December there were 6,777 cuts to home loans, with an average cut of -0.30%, according to Canstar's database.

It recorded:

<ul>
<li>880 cuts to variable rates for owner occupiers, with an average cut of -0.21%</li>
	<li>2,455 cuts to fixed rates for owner occupiers, with an average cut of -0.33%</li>
	<li>764 cuts to variable rates for investors, with an average cut of -0.21%</li>
	<li>2,678 cuts to fixed rates for investors, with an average cut of -0.32%</li>
</ul>
Over the same period there were 535 home loan rate increases, with an average increase of 0.20%.

On 1st January 2020 the average variable rate for owner occupiers paying principal and interest was 3.73% (80% LVR). Today that rate is 3.32% The lowest variable rate was 2.69% and it is now 1.99% (80% LVR) or 1.77% (60% LVR).

On the 1st January 2020 the average 3-year fixed rate for owner occupiers paying principal and interest was 3.15%. Today the average 3-year fixed rate is 2.30%. The lowest 3-year fixed rate was 2.69% and it is now 1.89%.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2020_home_loan_rate_changes.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="505" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/2020_home_loan_rate_changes.jpg?itok=dknBFocG" width="580"></a></figure>Savings interest rates

From 1 January to 31 December Canstar recorded:

<ul>
<li>529 cuts to savings, with an average cut of -0.18%</li>
	<li>262 cuts to regular savings accounts, with an average cut of -0.19% </li>
	<li>267 cuts to bonus savings accounts, with an average cut of -0.17%</li>
</ul>
On 1st January 2020 the average regular savings account rate was 1.12%. Today that rate is 0.43%. The maximum rate was 2.65% and it is now 1.75% (available for 4-months).

On 1st January 2020 the average bonus savings account rate was 1.47%, now just 0.75%. The maximum rate was 2.25% and it is now 1.35%.
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From 1 January to 31 December there were 6,777 cuts to home loans, with an average cut of -0.30%, according to Canstar

urban.com.au

2020 saw 6,777 interest rate cuts across Australia's home loan institutions

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The Brisbane apartment market ended 2020 on a high, recording a 0.4 per cent gain over December, according to data analytics firm CoreLogic.

It took the median apartment price to a 2020 high of $390,000.

Urban has taken a look at three developments which are selling apartments around the new median apartment value.

<a href="/new-apartments/venusto-172-venner-road-yeronga">Renovaré, Yeronga</a>

Address: 174 Venner Road, Yeronga QLD 4104

Price: From $389,000

<img alt="" height="890" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/renovare.jpg" width="1200">

The Gardner Vaughan Group Yeronga project Renovaré is offering its one bedroom apartment from $389,000, or $384,000 when taking in to account the $15,000 Homebuilder's Grant. They've just released their third stage, Vensuto, made up of 33 one, two, three and four bedroom apartments.

The project has achieved a five-leaf rating of sustainability from The Urban Development Institute of Australia (UDIA) which highlights the features and positive impact on the environment and community.

<a href="/new-apartments/the-coterie-365-st-pauls-terrace-fortitude-valley">The Coterie, Fortitude Valley</a>

Address: 365 St Pauls Terrace, Fortitude Valley QLD 4006

Price: From $383,880

<img alt="" height="851" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_coterie_fortitude_valley.jpg" width="1200">

Vicland Property Group's Fortitude Valley project The Coterie is offering one bedroom apartments from $383,880 just 1.5 kilometres from Brisbane's CBD in the bustling restaurant precinct. The site's original heritage bakery facade and feature interior elements of St Pauls have been integrated in to the development by architecture firms Rothelowman and Bruce Henderson Architects. 

The two residential towers are made up of one, two and three bedroom apartments across their 27 levels.

M Apartments, Kangaroo Point

Address: 699 Main Street Kangaroo Point, QLD 4169

Prices: From $415,000

<img alt="" height="883" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/m_apartments_kangaroo_point.jpg" width="1200">

Apartments in the boutique Kangaroo Point development M Apartments are now nearing the $390,000 Brisbane median. One beds start from $415,000, with the one bed apartments qualifying for the $15,000 HomeBuilder grant.

The apartment block has just 46 residences.

 
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Urban has taken a look at three developments which are selling apartments around the new median apartment value.

Brisbane apartment values rise 0.4 per cent in December: What you can buy for the new median

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Unaffordable home, contents and strata insurance is a major challenge to the liveability and prosperity of communities, towns and cities across northern Australia, but a range of actions could help address this, according to a major report published by the ACCC.

The final report of the ACCC’s three year Northern Australia Insurance Inquiry shows that home, contents and strata insurance premiums are, on average, considerably higher in northern Australia than the rest of the country, and over the past decade have increased at a faster rate.

Rising insurance costs are leading to higher rates of non-insurance in northern Australia, leaving more households and communities financially vulnerable to the impact of severe weather events, and potentially hurting the economic development of the region.

Insurers are increasingly assessing and pricing risk, based on a home or building’s individual characteristics and address rather than at a postcode or regional level, especially for cyclone or flood risk. This has resulted in very significant premium increases for some households.

“This inquiry has examined insurance in northern Australia in unprecedented breadth and detail, using an extensive volume of documents and data from insurers, and taking in significant information and feedback we have received from industry, local residents, consumer groups and communities across northern Australia,” ACCC Deputy Chair Delia Rickard said.

“We know that there are real reasons for more expensive insurance premiums in northern Australia. The risk of extreme weather is higher and it can be costly for insurers to service these regions. However, different insurers can quote vastly different premiums for the same property. While many consumers could save by switching, it is harder than it should be for consumers to shop around.”

“Our analysis has shown that, with the right actions, northern Australian insurance markets could work much better for consumers. We believe our wide-ranging recommendations would address many of the problems we have identified,” Ms Rickard said.

“Many of our recommendations, if adopted more broadly, could also benefit consumers and insurance markets across Australia.”

The ACCC has made 38 recommendations in this final report, including 11 new recommendations, that seek to improve outcomes in the short, medium and long term.

The inquiry considered a range of options that have been suggested to governments to improve affordability. The ACCC has recommended that, if governments want to provide immediate relief to consumers facing acute affordability pressures, subsidies be used in preference to other measures such as government reinsurance pools.

“Direct subsidies can be used in a highly targeted way to relieve some of the acute financial pressures faced by households in specific areas, at a lower cost and more effectively than other measures,” Ms Rickard said.

“We do not believe that government insurers and reinsurance pools can lower premiums without the government subsidising the insurer in some way. These measures also can’t be targeted to those consumers most in need, and so are more costly. Further, they involve transferring significant risks from insurers and reinsurers to governments, who are not well placed to manage them.”

Other recommendation that would provide immediate assistance include abolishing stamp duty on home, contents and strata insurance or, if it is maintained, that it be based on the sum insured of a property rather than the premium amount. The report notes that the rise in premiums on insurance in northern Australia has resulted in significant windfall gains for state and territory governments.

“We continue to advocate that a portion of any stamp duty revenue should be devoted to improving affordability of insurance for low income consumers or to funding mitigation works,” Ms Rickard said.

“However, the best outcome for consumers would be for stamp duty to no longer be applied to home, contents and strata insurance, which are often considered essential products that some households struggle to obtain.”

We also recommended that insurers provide more short-term help for customers struggling to pay their premiums when due, such as by deferring payments, reducing or waiving surcharges for monthly payments, or offering payment plans.

“The industry has no standard approach to assisting customers struggling to pay their premiums,” Ms Rickard said.

“It is crucial that we help households hold onto their insurance, because becoming uninsured can result in much greater financial hardship in the future if homes or possessions are impacted by a severe event.”

Better disclosure of surcharges imposed on monthly instalments has also been recommended, so that consumers can compare the difference in cost in dollar terms between paying annually or monthly. Some insurers apply a surcharge of up to 20 per cent, which can add hundreds of dollars a year to the cost of insurance.

The inquiry has also made a series of recommendations relating to risk mitigation, including new recommendations designed to make insurance more affordable in the future by reducing the risk of property loss or damage.

These include expanding the remit of the Australian Building Codes Board to explicitly include property protection as an objective when developing the National Construction Code, and that Standards Australia and the insurance industry develop voluntary standards for more resilient buildings, for both new homes and for retrofitting of existing homes.

“Importantly, we are calling on the insurance industry to commit to taking into account resilience measures when setting premiums,” Ms Rickard said.

The inquiry also looked at how risk data could be better shared and at improvements to land use planning.

The new recommendations add to the previous recommendations made by the inquiry over the past three years. These have included measures to make pricing more transparent, a ban on conflicted remuneration for insurance brokers and strata managers and that a national home insurance comparison website be considered.

During the past three years the ACCC considered more than 420 submissions and held public forums in Townsville, Cairns, Rockhampton, Mackay, Broome, Karratha, Darwin and Alice Springs.

“We have heard first-hand how many residents of northern Australia are struggling to find suitable and affordable insurance in this market, and the considerable impact this is having on them and their communities,” Ms Rickard said.

“We believe the work of this inquiry and the implementation of our recommendations will make a difference for people living in northern Western Australia, northern Queensland and the Northern Territory, and contribute to the long-term prosperity and liveability of this important part of Australia.”
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The final report of the ACCC’s three year Northern Australia Insurance Inquiry shows that home, contents and strata insurance premiums are, on average, considerably higher in Queensland than the rest of the country

Regional Queensland communities need more affordable strata insurance: ACCC

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The Sydney unit market held its ground showing signs of stabilisation, recording -0.1 per cent losses over December, according to data analytics firm CoreLogic.

It followed from -0.7 per cent losses in November and -0.6 per cent shrinkage in October to be down -1.4 per cent over the quarter. The quarterly performance saw apartments offset any early yearly gains to be down -0.2 per cent over the calendar year.

The housing market comfortably outperformed the unit market over 2020, with houses growing four per cent, CoreLogic's data found.

The unit median fell to $733,852 over December.

Urban has taken a look at three Sydney apartments blocks to secure under the median apartment value.

<h2><a href="/buildings/alex-collective-alexandria-163-173-mcevoy-street-alexandria-nsw-2015">Alex Collective</a></h2>

Address: 163-173 McEvoy Street, Alexandria NSW 2015

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/alex_collective_lead.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/alex_collective_lead.jpg?itok=SbUlKu9K" width="580"></a></figure>Alex Collective, will feature 163 residences, with a dual facade on McEvoy and Lawrence streets. The development is set to be delivered by Alexa Development and Ceerose, with luxury homes starting from $750,000.

A selection of lofts, maisonettes and penthouses will be available for sale, with most homes positioned to be north-facing, with properties on upper levels offering expansive views towards the city skyline, Sydney Park and Alexandria's streetscapes.

The four tower project was <a href="/news/nsw/alex-collective-new-four-tower-residential-development-launches-in-alexandria">approved in November last year</a>.

<h2><a href="/buildings/alex-collective-alexandria-163-173-mcevoy-street-alexandria-nsw-2015">Kew Schofields Stage 2- Georgette</a></h2>

Address: 23-27 Schofields Road, Schofields NSW 2762

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kew_schofields_lead_interior.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/kew_schofields_lead_interior.jpg?itok=IxPl0EUP" width="580"></a></figure>Kew Schofields is a stylish new master-planned community located in north-western Sydney. Developer Positive Investment Enterprise plans to set a new benchmark for relaxed, community living with 2,700sqm of retail space, parklands and recreational facilities within walking distance from each property.

Prices start from $725,000 for a one-bedroom apartment designed by PBD architects, one of 106 residences in the development.

Take a look at Urban's tour of the <a href="/news/nsw/urbans-tour-of-the-kew-schofields-display-suite">Kew Schofields display suite</a>.

<h2><a href="/buildings/alex-collective-alexandria-163-173-mcevoy-street-alexandria-nsw-2015">Bloom Arncliffe</a></h2>

Address: 213 Princes Highway, Arncliffe NSW 2205

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/bloom_arncliffe_lead.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/bloom_arncliffe_lead.jpg?itok=Lu4vkt4v" width="580"></a></figure>Bloom Arncliffe, the residential precinct in Southern Sydney, <a href="/news/nsw/bloom-arncliffe-sydney-finishes-construction">recently finished its construction</a>.

The 318 apartments across seven buildings are ready for occupation, as part of the $136 million development which also features 36 commercial spaces and a youth centre with basketball courts, a gym and support facilities.

Developer Wingate had Richard Crookes Construction handle the construction of the mixed-use development with one bedroom, one bathroom, one park apartments starting from $595,000 and two bedroom, two bathroom, one park apartments starting from $710,000.
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Urban has taken a look at apartments in three Sydney developments to secure at or under the median apartment value

Sydney apartment opportunities at or under $733,852, Sydney's new median unit price

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The Melbourne unit market continued to shrug off the worst of the 2020 COVID impact on property, recording 0.6 per cent gains over December, according to data analytics firm CoreLogic.

It followed from 0.1 per cent gains in October and <a href="/news/melbourne-apartment-values-outperform-houses-in-november-corelogic">0.7 per cent gains in November</a> to be 1.4 per cent up over the quarter. The quarterly performance saw apartments offset any early year losses to be flat over the calendar year.

The unit market comfortably outperformed the housing market over 2020, with houses contracting two per cent, CoreLogic's data found.

The unit median rose to $576,905 over December, now higher than July levels.

Urban has taken a look at five apartments blocks to secure under the median apartment value.

<h2><a href="/buildings/canvas-272-barkly-street-brunswick">Canvas, Brunswick</a></h2>

Address: 272 Barkly Street, Brunswick, VIC 3056

<img alt="" height="887" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/canvas_brunswick.jpg" width="1200">

Canvas, the Brunswick development by ID Land, has one bedroom apartments starting from $480,000, well below Melbourne's median apartment price. The facade of the Rothelowman-designed block pays homage to Brunswick’s industrial past. Formed by concrete construction and urban design principles, the visual grid spans the building, framing each apartment. It will feature 62 one, two and three bedroom residences with interiors by Hecker Guthrie, expected to be completed in 2022.

Their two beds start from $680,000.

<h2><a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne">Parkhill Apartments, West Melbourne</a></h2>

Address: 408 Spencer Street, West Melbourne VIC 3003

<img alt="" height="793" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/parkhill_west_melbourne.jpg" width="1200">

Parkhill Apartments in West Melbourne are offering one bedrooms starting from $479,000, developed by the award-winning Central Equity. Early buyers will have the chance to save $430,000 on stamp duty.

Parkhill Apartments has a range of one and two bedroom apartments with 6.5 Star energy ratings. There's a rooftop gym for residents and a rooftop garden with outdoor seating and barbecue areas.

<h2><a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east">Hawthorn Park, Hawthorn East</a></h2>

Address: 33 Camberwell Road, Hawthorn East VIC 3123

<img alt="" height="808" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hawthorn.jpg" width="1200">

Just over the rising median is Hawthorn Park, where developer Dahua Group is offering its one beds in from $609,000. The Camberwell Road development, estimated to be completed earlier this year, comprises 368 residences spread across seven floors and five buildings. Another designed by architect Rothelowman, Hawthorn Park features a fully-equipped gym with yoga and meditation studio, massage suites, a sky boardwalk, sky lounge, garden pavilion and a swimming pool.
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Melbourne's unit median now sits at $576,905 after seeing a 0.6 per cent rise in unit values over December.

Melbourne unit values rise 0.6 per cent in December: What you can buy for the new median

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Rental conditions across the Melbourne and Sydney unit markets have been characterised as having weak demand and high supply. It is driving a sharp drop in rents. Demand for inner city unit rentals has been significantly impacted by stalled overseas migration, especially from lower overseas student numbers, according to the latest data from CoreLogic.

Weak demand for inner city unit rentals has been exacerbated by a recent history of high rise apartment construction in Melbourne and Sydney, with the pipeline of new units that are still under construction remaining well above the decade average. Melbourne unit rents are down -7.6% over the calendar year and Sydney unit rents are down -5.7%.

The CoreLogic report posited that Weak rental conditions across the unit sector are likely to persist until overseas migration starts to ramp up and the higher levels of supply are absorbed.

Rental yields have been under some mild downwards pressure through the COVID period, with the gross yield across the combined capitals region reducing from 3.51% at the end of 2019 to 3.42% in December 2020, while yields across the combined regional areas have reduced from 5.03% last year to 4.83% this year. Despite the lower yield profile, with interest rates likely to remain at record lows for some time yet, the opportunity for positive cash flow properties is becoming more prevalent.

Opportunities for positive cash flow properties along with the potential for capital gains is likely to see investment activity consistently lift through 2021, CoreLogic noted.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/jan_4_rents_1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/jan_4_rents_1.jpg?itok=RQIFTQP6" width="580"></a></figure>However rental conditions have diverged substantially in 2020 from both a geographical perspective and across the housing types. From a geographical perspective, the annual change in rents has been strong in Perth and Darwin where house rents are up around 10% in both cities and unit rents are 6.8% higher in Perth and 7.6% higher in Darwin.

CoreLogic Research Director Tim Lawless attributes the strength in Perth and Darwin rentals to both strong demand and a recent history of minimal supply additions.

“Both Perth and Darwin have recorded below average levels of investor activity since housing market conditions started to cool in mid-2014 which has led to a shortage of rental stock. More recently, with stronger interstate migration driving housing demand, rental rates have been under substantial upwards pressure as demand for rentals outweighs supply,” he said.

Although rents are surging higher in Perth and Darwin, the longer term trend highlights the weak rental conditions that persisted prior to the recent upswing. Perth rents remain -10.4% lower than the previous peak in May 2013 and Darwin rents remain almost -20% below their 2014 peak.
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Melbourne unit rents are down -7.6% over the 2020 calendar year and Sydney unit rents are down -5.7%

Melbourne and Sydney unit rents are down over five per cent

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The former Macquarie banker-turned-Nulux Energy chairman Tony Ferguson and his doctor wife Robin sold their off the plan Sydney apartment on Christmas Eve.

It ranks among Sydney’s highest apartments with their 2014 off-the-plan sub-penthouse on the 82nd floor of the yet to be completed Greenland Centre in the CBD.

The skyscraper is still under construction, with the couple deciding to stay in their $4.7 million Stamford on Kent Millers Point in-between apartment home since their Pymble home sold for $8.5 million

The sub-penthouse 82.01/115 Bathurst Street comes with a private lift.

Spanning about 179 square metres, it has views from the Sydney heads to Darling Harbour.

Each of the three bedrooms will have an en suite. There is also a study area.

Nic Krasnostein at Ray White Double Bay had a June expressions of interest for what was marketed as the building’s only north-facing sub-penthouse.

[smartcode_project:default project_id=7758]

The contract resale was up for $9.5 million to $10 million through Krasnostein and Residence Property’s Alex Vrisakis.

There was a $35 million asking price by Chinese-backed developer Greenland Australia for the King penthouse above.

The Greenland Australia developed Greenland Centre Sydney on Bathurst Street was anticipated for a 2020 completion, however delays now see its estimated completion towards the end of 2021.

The $700 million tower will soar 235 metres in to the sky with 481 apartments over the 67 levels to a design by Woods Bagot and BVN.

The Bathurst Street block initially saw a the 300 apartments in stage one sell out nearly eight years ago, with prices ranging from $595,000 for a studio to $4.38 million for a three bed, with a then anticipated 2017 completion date.
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It ranks among Sydney’s highest apartments situated on the 82nd floor of the yet to be completed Greenland Centre in the CBD.

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Greenland Centre sub-penthouse off the plan resale

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One in four (25%) Australians are worried about how they will pay the rent or mortgage after Christmas, according to new research by Finder, Australia’s most visited comparison site. That’s the equivalent of 4.8 million Australians who may have difficulty coming up with the funds to pay their mortgage or rent.

The Finder survey of 1,004 respondents revealed 16% of Australians are somewhat worried about meeting payments, while a further 9% are extremely worried. The problem is more pronounced for men, with nearly one in three (31%) anxious about paying rent or mortgage after Christmas, compared with 19% of women.

Sarah Megginson, home loans expert at Finder, said in COVID times, Christmas could push people over the edge financially.

“Many households are still facing hardship and relying on stimulus money to get by as the pandemic goes on. For families whose income for December is less than it was last year, this can cause significant budget shortfalls and lead to financial trouble. Many will have to choose which bills to fall behind on,” Megginson said. 

The research shows that young people are the most vulnerable when it comes to missing their payments. One in three (33%) Gen X and Gen Y Aussies, respectively, are worried about paying their rent or mortgage over Christmas, compared to just 5% of Baby Boomers. Many young Aussies have found themselves jobless this year, as youth unemployment hit a 23-year high of 16.4% in June, leaving them the most vulnerable to missed rental or mortgage payments.

Victorian households are the most burdened by their living costs, with a whopping 37% of residents concerned about making rent or mortgage payments over the festive season. While Victoria bore the economic brunt of the pandemic, rental prices have not fallen in proportion with the recession. In Melbourne, the median asking rent in September was $425, down just 2% year-on-year, according to CoreLogic data.
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That means roughly 4.8 million Australians who may have difficulty coming up with the funds to pay their mortgage or rent.

25% of Australians are worried about housing costs post-Christmas

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The Vocation founder and former executive Brett Whitford has sold his Balmoral home.

He was seeking $20 million plus for the home which cost $16 million in 2015 after a 2015 exchange.

It was listed as he intends spending more time at his 57-hectare Angus cattle farm at Jamberoo.

The Balmoral cliff top trophy home had been the home of the recruitment industry pioneer Geoff Morgan and his wife, Roslyn.

The Morgan house had been substantially renovated, while still retaining its 1930s Mediterranean-style.

There are views of Grotto Point, Castle Rock Beach, Clontarf and the rest of the Middle Harbour beauty points along with national park headlands.

The co-founder of recruitment giant Morgan &amp; Banks bought his north-facing 1,100 square metre property in 2004 for $5.25 million.

The five-bedroom, six bathroom house with a gym and pool was sold through local agent Michael Coombs for Whitford who is now the Glenburn Private Capital chairman.

It will likely be the second highest sale this year in Mosman, which has seen some $1.4 billion in sales, according to Domain.

The year was topped by the $22 million sale in February of the Adamo family mansion to Mengyao Ling on Ruby Street.

The third highest sale was $20 million when an Alex Popov-designed residence was sold by the childcare mogul Brendan McAssey to shopping centre estate agent Simon Rooney and his wife Kristen.
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It will likely be the second highest sale this year in Mosman, which has seen some $1.4 billion in sales.

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