Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Joel Robinson

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

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Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Central Element is seeking approval for a significant residential redevelopment in Lavender Bay, lodging plans for a dual-tower apartment project that would deliver 163 new homes on a prominent site at the northern gateway to Milsons Point.

The Sydney-based builder-developer has lodged a concurrent rezoning proposal and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/64-66-lavender-street-lavender-bay-nsw-2060">64-66 Lavender Street and 3-7 Middlemiss Street</a>, a 2,305 sqm amalgamated site currently occupied by a collection of ageing residential flat buildings.

Designed by SJB, the proposal would replace the existing 32 apartments with two residential towers rising 23 and 32 storeys, comprising 163 apartments including affordable housing managed by a community housing provider. The project forms part of the NSW Government's Housing Delivery Authority program and has been progressing through a fast-tracked state planning pathway since being endorsed for further assessment in 2025.

The proposal is one of the most significant redevelopment opportunities currently under consideration on Sydney's lower north shore, sitting between the high-density towers of Milsons Point and the lower-scale heritage fabric of Lavender Bay.

<img alt="Lavender Bay" data-entity-type="file" data-entity-uuid="93ecf0ee-487d-4292-afc4-0bc9579475d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.48%E2%80%AFAM.png?VersionId=PunU2ipMaTxiJcJ8NdMyUlWA7d98eNUb" />

The planning proposal seeks a substantial uplift from the current 12 metre height limit, which would only allow for a four-storey building, however the submission argues a scheme within these limits would not be&nbsp;economically feasible given the complexity of site amalgamation and would fail to maximise housing delivery on land located within walking distance of major transport infrastructure.

SJB said the design evolved significantly following discussions with the Department of Planning, Housing and Infrastructure and independent design review processes.&nbsp;Rather than pursuing a single larger tower, the architects adopted a two-tower approach aimed at reducing perceived bulk, preserving view corridors and creating greater permeability at ground level.

The northern tower would rise 23 storeys and contain 81 apartments, while the southern tower would reach 32 storeys and accommodate 82 apartments. Five basement levels would provide 174 car spaces, 181 bicycle spaces and 10 motorcycle spaces.

"The proposal for 3–7 Middlemiss Street and 64–66 Lavender Street is driven by a clear ambition to complete the Middlemiss Peninsula, delivering the final piece of a carefully evolving urban precinct," SJB noted in its design report.

"Positioned at the threshold between Lavender Bay and the North Sydney CBD, the development is envisioned as a unifying element—one that completes the skyline composition while providing a considered and harmonious transition between the peninsula’s established character and the intensity of the CBD beyond.

"Collectively, the development aspires to create a landmark that is generous, inclusive, and deeply connected to its setting, one that enhances the skyline, strengthens the public realm, and contributes to a more equitable and sustainable urban future."

Communal spaces would be distributed across multiple levels, including landscaped podium gardens, swimming pool facilities, barbecue areas and rooftop-style retreat spaces designed for residents. The proposal delivers more than 1,500 sqm of communal open space and nearly 400 sqm of indoor communal facilities.

<img alt="Central Element" data-entity-type="file" data-entity-uuid="0671c276-6dd8-4cfc-97b0-134a45d2c8cf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.17%E2%80%AFAM.png?VersionId=90D7lRaCTMTsFx92tIBrHlZcuaV_a4cw" />

A major focus of the planning assessment has been the project's relationship with surrounding public open spaces.

Clark Park, Bradfield Park and Wendy Whiteley's Secret Garden are among the lower north shore's most valued public landscapes, and overshadowing impacts have been closely examined through the design process. Central Element is proposing to also create a new public plaza and pocket park as part of the development.

Central Element has been developing across Sydney since 2010.

They have recently completed their Chatswood tower, Ethos Chatswood, as well as their luxury redevelopment of Coogee's landmark Ballamac House. They are currently selling Pearl Bondi, just seven high-end homes, while future plans include a tower on Hyde Park, and a boutique project in Neutral Bay.

First look: Central Element reveals Lavender Bay apartment plans

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>

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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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Local government areas (LGAs) are struggling to accommodate the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-22/victoria-public-social-housing-build-local-council-rules/12907336">growing demand for housing in Victoria</a> – a problem which the Victorian Government are planning to address with an investment boost of $5.4 billion.

The Government's plan is to replace obsolete properties and construct 12,000 new homes, providing more social and affordable housing. This funding will, in turn, provide 10,000 jobs each year over four years. 

<h2>Current projects underway</h2>

Bills Street, Hawthorn - The site is prepped and ready for new developments to commence construction once the planning application is approved.

Dunlop Avenue, Ascot Vale - Planning permit has been issued earlier this year.

Elizabeth Street, North Richmond - The new buildings to be established in the vicinity of 147 - 161 Elizabeth Street in Richmond will deliver well designed, safe, secure and modern social and affordable housing. 

Markham Avenue, Ashburton - The site is prepped and ready for development to begin. The new homes will be located next to existing parklands.

Tarakan Street, West Heidelberg - Redevelopment for improved open space is planned for this site.

Victoria Street, Flemington - A new residential development will offer affordable homes due to demand.

<h2>21 LGAs the Government is requesting submissions for:</h2>

<ol>
<li>
	Bendigo
	</li>
	<li>
	Macedon
	</li>
	<li>
	Ballarat
	</li>
	<li>
	Moorabool
	</li>
	<li>
	Melton
	</li>
	<li>
	Wyndham
	</li>
	<li>
	Geelong
	</li>
	<li>
	Shepparton
	</li>
	<li>
	Mitchell
	</li>
	<li>
	Whittlesea
	</li>
	<li>
	Maroondah
	</li>
	<li>
	Casey
	</li>
	<li>
	Cardinia
	</li>
	<li>
	Hume
	</li>
	<li>
	Brimbank
	</li>
	<li>
	Maribyrnong
	</li>
	<li>
	Port Phillip
	</li>
	<li>
	Moreland
	</li>
	<li>
	Darebin
	</li>
	<li>
	Whitehorse
	</li>
	<li>
	Boroondara
	</li>
</ol>
The new initiative will complement the $500 million building works programme, which aims to give the construction industry extra employment security post-COVID-19.
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Olivia Round

Fast-start project: Victoria's $5.4 billion Big Housing Build

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A Blakehurst, NSW trophy house has been listed without a price guide.
The five bedroom, five bathroom abode is known as 'Black Caviar'.
Situated at 139a Stuart Street, the property resembles a boutique hotel, according to the marketing material.
Set on 1,182 sqm it sits along the Cote D’Azur complete with its own boating facilities.
The interiors showcase a glass lift that offers 180-degree views across the Georges River as it services four levels featuring multiple guest suites, an executive office, cinema and gym.
It is finished with a pool plus a multi-tiered party and boating deck over the district’s deepest waters. 
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j.ballantyne1990-6AQqhLzZaK

Blakehurst, NSW trophy home resembling a boutique hotel listed

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With two-thirds of our global populace predicted to be living in a city by 2050, finding affordable housing proves difficult when searching for property in Australia's cities, especially for first home buyers.

If your budget is on the tighter side, here are six residences you can get for $550,000 in each capital city. 

1. Sydney

Parkside, Wolli Creek 
One-bedroom apartments from $545,000 
Address: 25-29 Gertrude Street, Wolli Creek NSW 2205

<img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/678b48dd-3274-4aa4-a10b-0f177db9cd5f-w1920-h1080.jpeg?itok=99Tj8E1_" width="580">

In Sydney, $550,000 won’t get you very far. However, by travelling just 15 minutes south, you’ll be able to score a brand new one-bedroom apartment in Wolli Creek.

Privately-owned Parkside is offering a one-bedroom, one-bathroom residence with a car space from $545,000. The modern apartments have a contemporary feel, with views over Cooks River and the city skyline. Prices for the one-bedroom apartments go up to $675,000.

2. Melbourne

<a href="/buildings/domain-house-south-melbourne-41-49-bank-street-south-melbourne">Domain House, South Melbourne</a> 
One-bedroom apartments from $498,000 
Address: 41-49 Bank Street, South Melbourne VIC 3205

<a class="colorbox colorbox-insert-image" href="/buildings/domain-house-south-melbourne-41-49-bank-street-south-melbourne" rel="gallery-all" title="Domain House, South Melbourne"><img alt="" class="image-article-full-width-580px" height="433" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-11-24_at_11.32.07_am.png?itok=0ibbW8J-" title="Domain House, South Melbourne" width="580"></a> <a class="colorbox colorbox-insert-image" href="/buildings/domain-house-south-melbourne-41-49-bank-street-south-melbourne" rel="gallery-all" title="The yoga room at Domain House, South Melbourne"><img alt="" class="image-article-full-width-580px" height="436" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-11-24_at_11.32.14_am.png?itok=lz3K6FTu" title="The yoga room at Domain House, South Melbourne" width="580"></a> 

Melbourne’s offerings in this price range include a one-bedroom, one-bathroom apartment in South Melbourne.

A new development, Domain House on Bank Street, will see apartments starting from $498,000 to $570,000 for one-bedroom apartments. The project is designed by Bruce Henderson Architects, with high-end apartments priced up to $1.7 million. Whilst construction is only just commencing, the development plans reveal a tranquil yoga room, residents’ lounge and Japanese-inspired garden. So far, 60 per cent of the apartments in the complex have sold.

3. Canberra

<a href="/buildings/domain-house-south-melbourne-41-49-bank-street-south-melbourne">T</a><a href="/buildings/the-parade-10-anzac-park-campbell">he Parade, Campbell</a> 
Two-bedroom apartments from $540,000 
Address: Cnr Constitution Avenue, Campbell ACT 2612

<a class="colorbox colorbox-insert-image" href="/buildings/the-parade-10-anzac-park-campbell" rel="gallery-all" title="The Parade, Campbell"><img alt="" class="image-article-full-width-580px" height="379" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/render_campbell5_courtyard_final1200px.jpg?itok=XRD3JedJ" title="The Parade, Campbell" width="580"></a> <a class="colorbox colorbox-insert-image" href="/buildings/the-parade-10-anzac-park-campbell" rel="gallery-all" title="The Parade, Campbell"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/render_campbell5_living_final1200px.jpg?itok=X6I61i0y" title="The Parade, Campbell" width="580"></a>

Given the lower entry-level price points, buyers can secure a luxury apartment in Canberra for a fraction of the cost of a high-end apartment in Sydney or Melbourne.

The Parade, a luxury residence right next to Canberra’s iconic Anzac Parade, offers two-bedroom apartments from $540,000. Offering inside-outdoor living, expansive living and spacious balconies, this apartment displays the best Campbell has to offer. The development is part of JWLand’s Campbell5 project, a lifestyle precinct and park-side living quarter.

The Parade is the fifth and final release at Campbell5: Saint-Germain, Greenwich Park, Koben, Siena and The Parade. Construction is expected to be completed midway through 2021.

4. Adelaide 

<a href="/buildings/on-the-park-bowden-20-24-gibson-street-bowden">On The Park, Bowden</a> 
Two-bedroom apartments from $470,000 
Address: 20-24 Gibson Street, Bowden, SA 5007

<a href="/buildings/on-the-park-bowden-20-24-gibson-street-bowden"><img alt="" height="755" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/on_the_park_bowden_sa.jpg" title="On The Park Bowden" width="1000"></a>

Adelaide's Bowden on The Park offers one, two and three bedroom apartments starting from $375,000 for a one bedroom apartment. With the $25,000 HomeBuilder grant available for first home buyers, that's $350,000 a foot on the property ladder. The Five Star Green Energy rated building has been <a href="/architects/hames-sharley">architecturally designed by Hames Sharley</a>, who has designed apartment blocks in Sydney, Perth and Brisbane.

Hundreds of people each week flock to the markets, cafes and bars of Bowden’s Plant 4 and Town Square. 

Bowden on The Park is estimated to be completed in mid 2021.

5. Brisbane

<a href="/buildings/belvedere-on-park-62-south-terrace-adelaide">T</a><a href="/buildings/the-one-residences-brisbane-8-adelaide-street-brisbane">he One Residences, Brisbane</a> 
Two-bedroom apartments from $570,000 
Address: 8 Adelaide Street, Brisbane QLD 4000

<a class="colorbox colorbox-insert-image" href="/buildings/the-one-residences-brisbane-8-adelaide-street-brisbane" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-one-residences-cutaway-1170x658.jpg?itok=pTkt2y0u" width="580"></a>

While, just above $550,000 threshold, Brisbane can offer you a whole for just a little. Luxury residential development, The One, offers two-bedroom, two-bathroom apartments starting at $572,000. Conversely, you may feel better suited to the one-bedroom, one-bathroom properties from $429,000.

The One is set to become one of the tallest buildings in Queensland, designed by DBI Design in collaboration with Zenx Architects. The tower sits in the mixed-use Brisbane Quarter, offering ground floor retail and world-class restaurants. The $1 billion development will include a gym, outdoor yoga and relaxation area, business lounge, and dining room.

6. Perth 

M<a href="/buildings/matheson-on-kearns-22-24-kearns-crescent-ardross">atheson on Kearns</a> 
Two-bedroom apartments from $549,000 
Address: 24 Kearns Crescent, Ardross WA 6153

<a href="/buildings/matheson-on-kearns-22-24-kearns-crescent-ardross"><img alt="" height="597" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/matheson_on_kearns_ardross.jpg" title="Matheson on Kearns" width="1000"></a>

Matheson on Kearns in Ardross, a small suburb sandwiched between the exclusive areas of Applecross and Mount Pleasant, and offers buyers the potential of $25,000 development bonus and a up to $25,000 in stamp duty concessions. The six level apartment block of 46 is made up of one, two and three bedroom apartments. They will have designer kitchens with Miele appliances, full-height glazing in the living areas and entertaining balconies.

The one bedroom apartments are 15 per cent more space than the average one bedroom apartment. Matheson on Kearns is being developed by the <a href="/developers/megara">Perth property development group Megara</a>, who have are selling apartments in <a href="/buildings/the-foundry-636-newcastle-street-leederville">The Foundry at Leederville</a> and <a href="/buildings/south-240-240-south-terrace-south-fremantle">South 240 in South Fremantle</a>.

Matheson on Kearns is estimated for completion in September 2021.
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If your budget is on the tighter side, here are six residences you can get for $550,000 in each capital city. 

urban.com.au

November 2020: What does $550,000 get you in each capital city?

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Australian dwelling values have continued to climb higher in the month of November to date, Coolabah Capital director Chris Joye has noted.
 Over the first 21 days of the month, house prices across the five largest capital cities have appreciated 0.4% led by Perth (0.7%), Adelaide (0.6%), Melbourne (0.5%), Brisbane (0.4%) and Sydney (0.2%) according to the latest daily hedonic index data from CoreLogic.
 After prices started drifting lower in late April and May, the Aussie housing rebound commenced in September in six of the eight capital cities.
Joye noted the bounce-back picked up steam in October with all cities except Melbourne realising gains. 
Joye wrote on Livewire that there is no evidence of a real boom yet.
"The recovery thus far has been gradual," he said.
 Coolabah has since March 2020 forecast strong dwelling price appreciation following a modest six-month correction, with total capital gains of at least 10% to 20% expected over the next few years. 
Joye added the locked-down Melbourne market, which unsurprisingly fared worst during this episode, appeared to trough in late October and started generating clear price increases at the end of that month. 
"In the November month-to-date, Melbourne has outpaced Sydney in terms of its capital gains.
"This also reconciles with increasingly robust auction market results," he said.
Joye sees a "sustainable housing boom will emerge over time."
"The boom should really grip once property investors flood back into the market in 2021 to capitalise on the advent of "positive gearing" (i.e., where gross rental yields are above the cost of servicing mortgage debt).
"Since bank credit standards are arguably the toughest they have ever been, we are not concerned about bubbles or financial stability risks at this juncture."
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jchancellor-FAypfDUnLy

Melbourne outpaces Sydney in November property gains: Chris Joye

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Rooville, a solid pale-brick home sitting on 6.5ha bushland in Lyonville, Victoria hit the market with $1.85 million to $2 million hopes.
It is now seeking $1.65 million - $1.78 million after several months of marketing.
The postmodern style home at <a href="https://www.realestate.com.au/property-house-vic-lyonville-134378954" target="_blank">121 Frith Mill Road </a>features curved roof line, exposed internal timber pillars and exposed brick walls. 
The home offers centrally located open plan kitchen and lounge/dining with Ned Kelly woodier heater. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/lyonville%202.jpg" alt="">
The master suite with ensuite opens onto an east-facing deck with lake views. 
At the opposite end of the house, there are two additional bedrooms, bathroom and laundry or wet room.
There is a lakeside studio with loft bedroom and kitchenette. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/lyonville%203.jpg" alt="">
Additional features of Rooville include triple carport, woodshed, vegetable garden with berries and rainwater tanks. 
It is located close to the popular tourist towns of Daylesford, Trentham, Kyneton and Woodend. 
Kim McQueen and Robert Broadhurst of McQueen Broadhurst Real Estate Kyneton &amp; Dylesford have the listing. 
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Lyonville trophy home on 6.5 ha bushland has listing price cut

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A renovated Queenslander in Kalinga, Queensland has gone under offer after hitting the market in xxx with $2.1 million hopes. 
The five bedroom, three bathroom house at <a href="https://www.realestate.com.au/property-house-qld-kalinga-134360750" target="_blank">148 Kent Road</a> is surrounded by the leafy streets of Kent Road.
Last traded for $390,000 back in 2000, the 1905 built Queenslander has three main living areas, a study, large kitchen, alfresco entertainment area and swimming pool. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/kalinga%202.jpg" alt="">
Nestled on a large 810sqm block, the home also features polished timber floors, pressed metal ceilings and space for four cars. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/14/kalinga%203.jpg" alt="">
Located only 8km from the Brisbane CBD, it is close to major shopping precincts, trial station and Brisbane Airport. 
Tyson Clarke of Queensland Sotheby's International Realty Brisbane marketed the home
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Kalinga renovated Queenslander under offer

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Camas, a 4ha property with open gardens in Dural, NSW has been offered for the first time in 53 years.
Surrounded by sweeping lawns, rose and vegetable gardens, the two storey double brick home is situated at <a href="https://www.realestate.com.au/property-house-nsw-dural-134438406" target="_blank">465 Glaston Road</a>. 
The family home comprises six bedrooms, two verandahs, and multiple dining and living areas with views of the surrounding gardens. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/28/dural%202.jpg" alt="">
It also features high ceilings, marble fireplace and the use of Australian Cedar throughout the home.
The home is situated only moments to local shops, schools, playing fields and 40 minutes to Sydney CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/28/dural%203.jpg" alt="">
The property offers the buyer potential with the option of subdividing into two parcels (STC).
Kate Lumby and Will Hampson of Lumby Hampson Dural have the listing.  
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Camas, Dural trophy home listed for the first time in 53 years

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A trophy home in Queensland’s Gold Coast has sold for $4.6 million on the first inspection.
Located at 2 Charlton Street, the Southport home was located at on a 1,250 sqm block set against a parklike setting.
The seven-bedroom, eight-bathroom property offers two fireplaces, outdoor entertaining terraces and water views.
Other features of the residence is the home cinema, two studies and multiple formal living and dining areas.
The prestigious TSS Southport precinct property was marketed by Ray White’s Sam Guo and Julia Kuo.
A pool, cabana, sauna and external shower compliment the Hamptons-style feel of the home.
The vendor was Fiona Jackson who acquired the property in 2013, a mother and businesswoman who has worked for a royal family in the Middle East.
It has been on and off the market since 2015, according to CoreLogic.
The home is only a short distance from Gold Coast beaches, the Southport Marina and Brickworks Village.
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Southport mansion sells for $4.6 million

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A retreat surrounded by rainforests in Northern New South Wales has hit the market with $2.9 million hopes. 
It has been listed by Carol Carter from Queensland Sotheby’s International Realty Main Beach.  
Positioned on near 53 hectares of unspoiled environment, <a href="https://www.realestate.com.au/property-acreage+semi-rural-nsw-urliup-134551258" target="_blank">1110 Urliup Road, Urliup</a> comprises a three-bedroom main residence and three self-contained villas. 
The main residence features expansive living areas, well-equipped kitchen, wooden ceilings and natural timber floors.  The trio of accompanying one-bedroom options, which currently serve as holiday rentals, is designed to incorporate distinct reflections of the natural environment.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/10/10/urliup%202.jpg" alt=""> The Waterfall Villa is nestled in the heart of Urliup’s bush range and comes with an outdoor alfresco area.
The Fountain View Villa boasts a open-plan bedroom/living area, a rainfall shower and double chromotherapy spa bath.
The he Mountain View Villa is a bush paradise lined with decor from the hinterland surrounds.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/10/10/urliup%203.jpg" alt=""> The retreat is a 30-minute drive from the Gold Coast International Airport, and is close to restaurants and cafes of Murwillumbah. Nearby coastal attractions include the renowned Husk Distillers and Tweed Regional Gallery.   The area also encompasses a range of culinary options, such as Paper Daisy at Halcyon House, Fins at Salt Village and the Greek-inspired Taverna at Kingscliff.  
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Northern NSW rainforest retreat hits the market

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<div>Sydney's prime residential property price growth is set to rise higher than the global average in 2021, Knight Frank's Prime Global Forecast 2021 report has found.</div>
<div> </div>
<div>They expect Sydney to see three per cent growth, compared to the global forecast of two per cent.</div>
<div> </div>
<div>Melbourne is set for a positive 2021, with a more modest one per cent growth forecast.</div>
<div> </div>
<div>Knight Frank expect prime sales in Melbourne to pick up post lockdown, however they predict that demand will remain lower in 2021 with a solid pipeline of new prime supply.</div>
<div> </div>
<div>They only forecast a marginal increase in new supply in Sydney's prime real estate in 2021.</div>
<div> </div>
<div>
<div>Sydney has been grouped alongside London, Paris, Berlin and Madrid as cities whose prime prices are expected to rebound, assisted by low interest rates, pent-up demand, tax holiday or because of firm market fundamentals. </div>
</div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/NOV/24/Knight%20Frank%20forecast.jpg" alt=""><img src="https://images//2020/NOV/24/Knight%20Frank%20forecast.jpg" alt="">   
<div>Knight Frank’s head of residential research Australia Michelle Ciesielski said the top three key prime property market drivers for Sydney are the pandemic-fuelled domestic demand, supply shortage and low interest rates.</div>
<div> </div>
<div>“These will be balanced out by the risks identified in the report’s Risk Monitor – for Sydney prime property the biggest risks ahead are the global and local economic performance, travel restrictions and the government’s ongoing response to the pandemic,” she said.</div>
<div>
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Knight Frank national head of residential Shayne Harris said prime property sales were back to pre-pandemic levels in Sydney, while that was not yet the case in Melbourne. 
“In Sydney, we are seeing a higher than expected volume of wealthy expats wishing to return home, which will grow the buyer pool for prime residential property as international travel restrictions ease over the coming months and years.," Harris said.
“Many of the wealthy population are considering expanding their property portfolios while the prime market records modest growth and low interest rates cheap. 
</div>
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</div>
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<div>
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The Knight Frank Prime Global Forecast found Shanghai and Cape Town lead the expectations for prime price growth in 2021, with annual price growth of five per cent forecast. 
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<div> </div>
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