<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.</p>

<p>The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.</p>

<p>Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" /></p>

<p>It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.</p>

<p>The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." /></p>

<p>Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.</p>

<p>&nbsp;</p>

<p>At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" /></p>

<p>The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.</p>

<p>The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.</p>

<p>The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" /></p>

<p>Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.</p>

<p>At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" /></p>

<p>The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.</p>

<p>Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.</p>

<p>The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" /></p>

<p>The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.</p>

<p>Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.</p>


Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>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.</p>

<p><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.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>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.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>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.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


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

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>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.</p>

<p>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.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"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.</p>

<p>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.</p>

<p>“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.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“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.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“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.”</p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

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<p><span>A Melbourne residential unit has been listed with a price guide which could trigger a loss of up to $96,000 on its 2014 purchase price.</span></p>
<p><span>Located at 4310/80 A'Beckett Street - within the MY80 building - the apartment features two bedrooms, two bathrooms, and a car space.</span></p>
<p><span>It comprises 57 square metres of internal floorspace.</span></p>
<p><span>The tower also features a swimming pool, gym, sauna, conference room, restaurant, coffee shop and garden.</span></p>
<p><span>It sold in 2014 for $786,000.</span></p>
<p><span>The current listing gives a price guide of $690,000 to $720,000.</span></p>
<p><span>Jenny Wu, from JT Oliver, has the listing.</span></p>
<p><span>Her price guidance was based on the following three comparable sales.</span></p>
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<p><span>2710/80 Abeckett Street </span></p>
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<p><span>$630,000</span></p>
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<p><span>03-Nov-19</span></p>
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<p><span>6104/462 Elizabeth Street  </span></p>
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<p><span>$630,000</span></p>
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<p><span>02-Sep-19</span></p>
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<p><span>2703/265-273 Exhibition Street </span></p>
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<p><span>$740,000</span></p>
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<p><span>17-Oct-19</span></p>
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<p>The sale reflects a growing concern about the stability of Melbourne's housing market in the current economic climate, with HSBC estimating prices could drop by as much as 17% if the current downturn is prolonged.</p>
<p>Another unit, on the same street, has also been <a href="https://www.propertyobserver.com.au/melbourne-apartment-listed-for-100-000-less-than-2008-sale-price" target="_blank">recently listed with a price guide reflecting a likely loss on the investment.</a></p>
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j.ballantyne1990-6AQqhLzZaK

Listed MY80 Melbourne apartment facing potential loss of $96,000 on 2014 price 

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<p>Amid the coronavirus lockdown, some luxury apartment developers have an eye on the future.</p>
<p>There has been a conditional $85 million offer made for the purchase of every apartment in The Chimes, a 1960s Potts Point apartment block.</p>
<p>It has been made by the <span>boutique Melbourne-based developer, Time &amp; Place Property, founded by developer Tim Price in 2015, who would end up paying about $1 million per apartment.</span></p>
<p>The Macleay Street block is best known for its pricey car space prices rather than its 80 studio apartments.</p>
<p>In 2016 an undercover car space fetched $264,000 which was a Sydney record. </p>
<p>Set at the plane tree-lined Parisian end of the strip, 45 Macleay Street is a 10 storey building that sits on the McDonald Street corner.</p>
<p>Its value is the block sits on a 1268 sqm block of land.</p>
<p>The Chimes strata block was registered in 1964 after demolition of the historic row of Santa Fe 1905 Queen Anne style terraces.</p>
<p>The other end of the row remains with Justin Hemmes recently selling the premises to Tony Benjamin.</p>
<p>Given the COVID-19 slump in tourism, he's now seeking long term tenants, rather than his initial overnight stays offering.</p>
<p>The Chimes body corporate has signed a non-ainding heads of agreement with Time giving them eight weeks to advise if it wishes to proceed to the next stage.</p>
<p>The highest 38 sqm studio apartment sale was $825,000 in 2018 with Harbour Bridge and Opera House views from the eighth floor, plus a car space.</p>
<p>The cheapest recent sale was $520,000.</p>
<p>The original unit allocation is a tad simplistic as every unit no matter whether with a view of harbour view or car park is either seven (fn one floor) or eight in the remaining 10 floors.</p>
<p>The 27 car spaces each have one unit entitlement.</p>
<p>The building sits on less than a third of its 1280 sqm holding.</p>
<p>The strata was the 934th, with the first coming in 1961 at Lindsay Gardens was the world’s first ever strata-titled building at 189 Liverpool Road, Enfield.</p>
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$85 million offer made on Potts Point apartment block The Chimes

<p>Situated in the heart of Footscray, and just 6 kilometres from Melbourne CBD is <a href="/buildings/live-city-124-188-ballarat-road-footscray"><u><strong>Live City</strong></u></a> - a new residential development built on a strong foundation of history and culture. Our latest&nbsp;display suite tour takes a look at the unique, curated homes of Live City's first development release of the master-planned community.&nbsp;</p>

<p><em>Check out our video tour:</em></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/xpaJ47H4tRg" width="660"></iframe></p>

<h2><strong>LIVE CITY AT A GLANCE</strong></h2>

<p>Developer:&nbsp;R&amp;F Property Australia</p>

<p>Architect: Elenberg Fraser</p>

<p>Location: 124-188 Ballarat Road, Footscray VIC 3011</p>

<p>Number of apartments: 208</p>

<p>Construction status: Complete</p>

<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/live-city-124-188-ballarat-road-footscray-0f79677b44fb6af74dda01ada6eddbae_1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/live-city-124-188-ballarat-road-footscray-0f79677b44fb6af74dda01ada6eddbae_1.jpg?itok=tiNDp2AA" width="580" /></a></figure>

<p>Designed by renowned architect Elenberg Fraser, the master-planned-project has retained and repurposed many elements of the former Kinnears Ropeworks Factory, from the classic exposed brickwork and steel trusses to the organic materials used throughout the interiors.&nbsp;</p>

<p>Live City kitchens boast the ease of luxury within every aspect of design, with elegant brushed stainless steel fixtures, reconstituted stone benchtops and Smeg appliances.&nbsp;</p>

<p>The interiors are sophisticated and modern, and floor-to-ceiling joinery grants residents unparalleled outlooks from each room and encourages plenty of natural light to fill living areas.</p>

<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/live-city-124-188-ballarat-road-footscray-1a33af762c9c4c4da2310675c4448297.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/live-city-124-188-ballarat-road-footscray-1a33af762c9c4c4da2310675c4448297.jpg?itok=LIYbj1Qj" width="580" /></a></figure>

<p>Engineered acoustic timber flooring throughout brings each home a modern aesthetic and offers residents a coveted low maintenance lifestyle. Live City bathrooms include sleek walk-in showers, complete with modern shower nooks and rainfall showerheads.</p>

<p>The bedrooms feature generous storage, soft carpet with some including adjoining balconies where residents can take in the stunning views of the surrounding landscape.</p>

<p>A rooftop terrace offers the perfect retreat to relax and unwind, while the resident's lounge provides excellent facilities for hosting dinner parties or to connect with neighbours.&nbsp;</p>

<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/live-city-124-188-ballarat-road-footscray-0dc69517db2e3ef326cfe5490e8fec9b.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/live-city-124-188-ballarat-road-footscray-0dc69517db2e3ef326cfe5490e8fec9b.jpeg?itok=BDpW13PH" width="580" /></a></figure>

<p>Live City is perfectly positioned in the vicinity of multi-million dollar&nbsp;infrastructure upgrades, including the&nbsp;brand new Footscray Hospital, and walking distance to Melbourne's sought after&nbsp;Victoria University.</p>

<p>Also within a 1-kilometre radius is&nbsp;Flemington Racecourse,&nbsp;Footscray Train Station and plenty of great local boutiques, grocers, cafes and restaurants.&nbsp;</p>

<p>Stage one of Live City's master-planned community is now complete and apartments are selling now. To secure your new home in Melbourne's vibrant suburb of Footscray, reach out to a <a href="/buildings/live-city-124-188-ballarat-road-footscray"><u><strong>Live City sales agent</strong></u></a> today.</p>


Olivia Round

Urban’s tour of the Live City display suite

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<p>Estate agent Mark Wizel has departed CBRE Melbourne.</p>

<p>The departure was mooted ever since the commercial property estate agency poached Sydney agent Simon Rooney from competitor JLL in mid-2019.</p>

<p>Wizel’s Melbourne team was told to focus on smaller shopping centres and offices priced below $75 million, leaving the big listings to Rooney.</p>

<p>“It is with a heavy heart that I confirm my employment with CBRE is at an end,” he told The Age.</p>
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<div class="_1lC_G">“The company insisted on imposing unacceptable changes to my employment and despite my best efforts they refused to budge.”</div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">[smartcode_project:default project_id=2929]</div>

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<div class="_1lC_G">His most recent reported sale was a $20 million Frankston office.</div>

<div class="_1lC_G"> </div>

<div class="_1lC_G"><span>Wizel recently advised his office had completed 15 sales post-civid totalling just under $190 million. </span></div>

<div class="_1lC_G"><span> </span></div>

<div class="_1lC_G"><span>"At present it seems as if the pricing has held up but volume has dropped," the always opinionated Mark Wizel advised on linked after an AFR article appeared saying shopping centre and hotel prices were most at risk of price discounts. One reader unfairly suggested added the article<span> "read like a Sam Tamblyn sponsored post." Tamblyn's<span> firm Urban Property Australia carries out more than 3000 commercial and residential valuations a year.</span></span></span></div>

<div class="_1lC_G"> </div>

<div class="_1lC_G">Property Observer reported in September 2019 that CBRE's hiring of one of the country’s top-billing agents, Simon Rooney had caused turmoil in its Melbourne office.

<p>CBRE had reportedly drafted rules that ensured Rooney got the trophy listings priced at more than $75 million in any of its state offices.</p>

<p>Rooney started at CBRE on August 1, 2019 after offers from rival groups, including Cushman &amp; Wakefield, becoming executive managing director, retail investments at CBRE.</p>

<p>Wizel's title had been CBRE's National Director of Retail Investments.</p>

<p>Wizel (top) claims to be "a household name" in his as yet unchanged linked profile.</p>

<p>He <span>started with CBRE 13 years ago when he joined from Colliers.</span></p>

<p><span class="markmys119y4c" data-markjs="true" data-ogab="" data-ogac="" data-ogsb="" data-ogsc=""> </span></p>
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Mark Wizel gone from CBRE Melbourne

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<p><span>Jobs and job security are major drivers of our local property market with both of these currently heading in the right direction prior to COVID-19 directives, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>"Over the twelve months since January 2019, we have seen a trend increase of 7.1 percent in the number of persons employed in the Townsville region. </span></p>
<p><span>"Our unemployment rate is on a downward trend and the higher levels of business confidence and strong rates of job advertising being observed bode well for continued strength in employment creation in the coming months," the valuation firm said. </span></p>
<p><span>"We have a strong pipeline of projects proposed to commence in 2020 or currently underway, with completion of the North Queensland Stadium and its hosting of events now a reality." </span></p>
<p><span>The report suggests this is providing a positive driver along with other proposed inner city projects such as the SeaLink ferry terminal, the Cowboys Centre of Excellence and the 166-room Double Tree by Hilton hotel.</span></p>
<p><span>Detached housing in inner suburbs such as Belgian Gardens, North Ward and South Townsville in close proximity to entertainment and lifestyle hubs are </span>seeing sales rates quickening and selling periods reducing. Sales however are still price sensitive and price movements thus far have been minimal.</p>
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<p><span>"We are however entering a period of unprecedented global economic disruption with COVID-19. Just how this will translate in our local market in terms of jobs and job security will be a major indicator to watch over the months ahead." </span></p>
<p><span>A beachside unit in North Ward has recently been sold for $290,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-qld-north+ward-133163758" target="_blank">11/177 Mitchell Street</a> home (pictured below) comprises two bedrooms, two bathrooms, multiple balconies and secure car space. </p>
<p><span>The complex features resort-style pool and entertaining area. </span></p>
<p><span><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/2020/5/25/north%20yard.jpg" alt=""></span></p>
<p>A current listing is a traditional Queensland cottage in South Townsville priced at $335,000.</p>
<p>The two bedroom, one bathroom is situated at <a href="https://www.realestate.com.au/property-house-qld-south+townsville-133146638" target="_blank">12 Sixth Avenue</a> (pictured below).</p>
<p>Positioned on a 721sqm block, it comes with modern kitchen, front veranda, internal laundry and huge yard. </p>
<p><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/2020/5/25/south%20townsville.jpg" alt=""></p>
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<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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How will COVID-19 pandemic transform Townsville property market: HTW residential 

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<p>Of the many economic, social and political drivers that influence the South Australian property market, two major drivers continue to be the most prevalent - interest rate movements and political elections, according to a recent Herron Todd White (HTW) residential report. </p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span> The report suggests these two factors are the most visible to the market being heavily publicised in both print and digital media. </span></p>
<p><span>"Interest rate movements are front of mind for first home buyers whilst they directly correlate to a current mortgage holder’s hip pocket," the valuation firm said. </span></p>
<p><span> A rate reduction can allow a first home buyer to enter the market whilst an increase could be the forcing hand for an investor to start selling. </span></p>
<p><span>"Political elections can act as both a hand brake and accelerator," the valuation firm said </span></p>
<p><span> In a pre-election time, market activity can slow given the many unknowns surrounding opposing parties’ election promises. Post-election, the market can see where the goal posts lie </span>and move forward with certainty and stability.</p>
<p>Additionally 100,000 South Australians making up nearly six percent of the state’s population are employed in the public service. Pre-election public servants would be wary of becoming active in the property market with the uncertainty a changing government could have on their employment.</p>
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<p><span>"On a micro level, property markets by region are influenced by a number local drivers," the valuation firm said. </span></p>
<p><span>Broadly the inner and middle rings are influenced by barriers to borrowing and lifestyle choices; the outer ring is influenced by affordability and local employment whilst regional South Australia is influenced by local industry, particularly mining and agriculture, and population movements.</span></p>
<p><span>Of most significance in the current market is the record low cash rate of 0.5 percent.</span></p>
<p><span>"Broadly, we are seeing first home buyers, upgraders, empty nesters and investors all active in the market. The mouth-watering prospect of finding either a fixed or variable home loan rate of sub three percent could be too good to pass up. The activity of these buyers in the market is driving demand for a broad range of property types," the valuation firm said. </span></p>
<p><span>Throughout the metropolitan area, character dwellings remain the most popular with the broad market, the HTW report noted. </span></p>
<p><span>Depending on location, entry points for these dwellings range from $500,000 to $800,000. Characterised by turn of the century cottages and quaint laneways, the inner south-eastern suburb of Parkside is popular for those seeking properties with heritage features.</span></p>
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<p>Achieving a sale price of $683,000, <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-132255646" target="_blank">22 Robsart Street, Parkside </a>(pictured below) typifies this property type. This is a character single fronted cottage providing two bedrooms, one bathroom, off street parking all situated on an allotment of 426 square metres.</p>
<p><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/2020/5/25/parkside.jpg" alt=""></p>
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<p><span>Metropolitan Adelaide has seen an increase in higher density townhouse style development. Driving this market within the inner ring are cashed up empty nesters looking to downsize whilst investors and first home buyers are behind the wheel in the middle and outer rings. </span></p>
<p><span>Within the inner ring, entry price points can be well into the </span>$1 million range whilst within the middle and outer rings, $400,000 is typically the starting point.</p>
<p>Both the sales of <a href="https://www.realestate.com.au/sold/property-house-sa-linden+park-128602902" target="_blank">7A Linden Crescent, Linden Park</a> (pictured below) and 16A Egmont Avenue, Warradale which achieved sale prices of $1.25 million and $545,000 respectively represent these similar property types in differing locations, the report noted. </p>
<p><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/2020/5/25/linden%20park.jpg" alt=""></p>
<p>Appealing to downsizers, 7A Linden Crescent, Linden Park maximises accommodation on a small allotment and includes high quality fixtures and fittings and is located within walking distance of Burnside Village. Appealing to investors and first home buyers, 16A Egmont Avenue, Warradale provides a standard fit-out and accommodation expected of similar stock within the middle and outer rings.</p>
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<p><span>"The CBD apartment market is unique with each new tower providing product appealing to all buyer types," the valuation n firm said. </span></p>
<p><span>Abiding by local planning guidelines and having knowledge of the broad market appeal, CBD apartment developers have to create a multitude of offerings at varying price points. </span></p>
<p><span>The recently constructed seven-level apartment complex Five O Six on Hurtle at 36 Hurtle Square, </span>Adelaide provides an example of this product mix.</p>
<p>Throughout 2019, this building had transactions of multiple apartments with varying floor plans with sale prices ranging from $465,000 for a two-bedroom, one-bathroom, one car space, sixth floor apartment to $2.65 million for a three-bedroom, three-bathroom, four car space, seventh floor apartment.</p>
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<p><span>"There are a multitude of factors driving the South Australian property market on both a macro and micro level. These drivers aid in the decision making of both purchasers and vendors. </span></p>
<p><span>"Awareness of these drivers and the understanding of their effects on the market are critical to making the right decision when the time comes." </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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Adelaide property market continues to be driven by interest rate and political elections: HTW residential 

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<p><span>Consumer sentiment is a big driver in Western Australia's property market and due to the recent COVID-19 outbreak, at the time of writing, consumer sentiment is fragile to say the least, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 pandemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span> The report suggests there are many other key local, national and global drivers that influence the property market and these economic drivers are in a constant game of tug-o-war, continuously shifting along a scale between supply and demand - the result of which creates price movement within the property market. </span></p>
<p><span>"In Western Australia, our economy is most heavily influenced by the mineral and gas resources industry. The resources boom has been mentioned in almost every Western Australia segment of the Month in Review in recent years as it has impacted the state so significantly and will continue to do so for the foreseeable future," the valuation firm said. </span></p>
<p><span>Mining projects throughout the state create thousands of jobs through construction work, maintenance, cleaning, machine operation, management etc. These jobs bring in hundreds and sometimes thousands of interstate and overseas workers in what can be relatively short periods of time, due to the enticing remuneration packages offered by large companies that compete for a limited workforce. </span></p>
<p><span>Conversely, when projects </span>come to completion, net migration can turn negative rapidly. The fluctuation of job vacancies and unemployment plays a large role in Perth’s property market as it influences our overall population in significant waves.</p>
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<p><span>"Net state and overseas migration statistics are directly linked to median house price and rental trends. We observe the nearly direct relationship of net migration and median house price growth, the effects of which have an approximate one-year delay," the valuation firm said. </span></p>
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<p><span>Not only does resource sector employment influence migration, it also plainly affects total unemployment. Net migration partially determines the number of people moving into Western </span>Australia to soak up housing stock and unemployment shapes how many residents are in a suitable financial position to make purchases within the property market.</p>
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<p><span>"As we touched on in our September 2019 edition, increased resource investment in 2006 influenced the mining sector across the whole state," the valuation firm said. </span></p>
<p><span>Mineral exports were ramping up as the amount of iron ore Western Australia was capable of exporting quadrupled in value from 2006 to the peak in 2012. This enabled businesses across Perth and regional Western Australia to find space for a number of new job vacancies and in 2006 we saw 31,000 migrants flock to the state, including both net interstate (3,100 persons) and overseas migration (28,070 persons). It didn’t stop there though. </span></p>
<p><span>Migration figures increased again, then had a lull and eventually peaked in 2012 when we saw a total of 58,600 people travel to Western Australia to get their share of the revenue from the resources boom.</span></p>
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<p><span>As mining investment declined, so did the availability of jobs. Some mining construction projects came to completion and this began the increase in unemployment rates. </span>The construction phase had ended, temporary contracts did not get extended and we started to see a significant level of redundancies.</p>
<p>Suddenly businesses were consolidating their workspaces as they employed less and less people. Many office buildings, apartments and land developments were under construction and now coming to completion, however there were no tenants or home buyers to lease or purchase these spaces, the report noted. </p>
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<p><span>The CBD office vacancy rate skyrocketed to over 20 percent and supply severely overshadowed demand, reversing the economic cycle. From here consumer sentiment began to slip and less access to finance stopped any interest from investors and owner-occupiers. Residential rents, office rents and house prices started their slow descent to their current position. </span></p>
<p><span>Net interstate migration has been in the negative since 2014. In 2017, 14,000 people left Western Australia for other Australian states, however since then, both interstate and overseas migration has improved slightly.</span></p>
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<p><span>The trends mentioned above are demonstrated in Figure 3. BHP recruited over 10,000 new employees and contractors between 2008 and past the peak in 2012 as the construction phase progressed to operational. </span></p>
<p><span>When many construction projects came to completion, there was a significant shedding of employment forces. Figure 3 does </span>show that BHP has been ramping up Australian recruitment again in recent years, which aligns with the commencement of its South Flank iron ore development in 2019, and other companies are doing the same.</p>
<p>"The data is not as transparent as it once was, due to the level of employment via third party contractors, hence the clarity of the current situation is difficult to demonstrate," the valuation firm said. </p>
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<p><span>Recent investment into Western Australia’s natural resources has come as positive news for our property market and economy as a whole. </span></p>
<p><span>There are several projects already underway or awaiting commencement in Western Australia and iron ore is dominating the mining sector with an estimated $17 billion worth of projects that will or are generating around 11,000 construction jobs over the next few years, some of which started back in 2018. </span></p>
<p><span>These projects will also employ an approximate 3,000 continuing operational jobs. Many experts have suggested that this will create a mini-boom such as the one seen in the early 2010s, however on much smaller scale.</span></p>
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<p><span>Net interstate and overseas migration has reverted to positive figures again and this has helped to stabilise property values in the Perth metropolitan region.</span></p>
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<p><span>"So how is Perth faring at the moment? Greater Perth’s median house price settled at $478,000 for the December 2019 quarter, falling by 1.2 percent," the valuation firm said. </span></p>
<p><span> Negative house price growth has been easing off for some time now, however the disparity between Perth’s inner and outer suburbs has caused some confusion for homeowners on where we currently sit. A very positive sign for Western Australia is the rebounding of vacant land prices. </span></p>
<p><span>Between the March and December 2019 quarters the median price of vacant land saw three consecutive increases, rising 3.4 per cent from $236,000 to $244,000. Perth hasn’t seen an increase in median vacant land prices since mid 2017 and that only lasted for one quarter.</span></p>
<p><span>Perth’s apartment sector over the past 20 years has been very cyclical, but is maturing rapidly. From 2012 to 2015, Western Australia saw a boom of apartment construction, fuelled by the resource sector</span>.</p>
<p>During this time, demand was high and developers of all kinds jumped in to fill the void with mainly investor grade products and several prestige developments that commanded high values as the market matured. Unfortunately the timing of completion of these was poor and on the downward part of the cycle.</p>
<p>Today Perth’s apartment market is still reeling from a large oversupply in some areas and it does not appear that this supply line will be going away any time soon, with an estimated 1600 new apartments completed in 2019, as well as 800 more anticipated by the end of 2020.</p>
<p>Beyond then, 3,100 apartments are expected to reach completion in 2021 and 2022 (JLL, 2020). This coupled with the 2,400 units currently on the market could mean further price corrections in this segment which is exacerbated by current state government policy directing demand to new supply.</p>
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<p><span>First home buyer locations such as Baldivis, Byford, Ellenbrook and Alkimos have all experienced continued value decreases over the past few years, the report noted. </span></p>
<p><span> Vast land development alongside Perth’s suppressed population growth has spelt disaster for this market segment. Advice from our valuers suggest that there has been little improvement </span>in these areas recently and we don’t hold much hope for the short term either. We do expect to see diminishing rates of negative growth over the medium term as long as economic conditions improve, however recent events have now cast doubt on this.</p>
<p><span>Moving closer to Perth, upgrader locations are faring slightly better than their outer rim counterparts. There has been a mix of value increases and decreases amongst various suburbs, however some recent positive signs include improving selling periods and declining vendor discounting. This can mostly be attributed to home owners heeding advice from their agents and pricing homes correctly from the get-go. </span></p>
<p>Kingsley is a suburb located 16 kilometres north- west of the CBD and is considered an upgrader location. The median house price in Kingsley decreased 0.3 percent during the December 2019 quarter, settling at $543,250. Negative house price growth has diminished over the past four years and hopefully we will see values increasein the medium term.</p>
<p>A four bedroom house in Kingsley is currently on the market with a price guide of over $579,000.</p>
<p>The <a href="https://www.realestate.com.au/property-house-wa-kingsley-133547830" target="_blank">7 Chauncey Court </a>home (pictured below) comes with large family living, two bathrooms, home office, updated kitchen and double carport. </p>
<p>It is situated close to shops and schools. </p>
<p><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/2020/5/25/kingsley.jpg" alt=""></p>
<p>Previous news of positive economic conditions has been a big driver for sales in established suburbs as owners take up the opportunity to upgrade before prices increase.</p>
<p><span>In the south-west part of the state, the recent uptick in activity in the resources sector has seen </span>the number of fly-in-fly-out workers begin to increase for the first time since the winding up of the mining construction boom. While the numbers are a far cry from the previous peak they are definitely improving.</p>
<p>There has been significant investment in the growth of the Talison lithium mine in Greenbushes (north of Bridgetown) as well as the associated infrastructure in the past few years.</p>
<p>On top of this there is a $1 billion lithium processing plant under construction in Kemerton (north of Bunbury). This was expected to bring a large number of workers to these regions however the reduction in the price of lithium has slowed these projects down.</p>
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<p><span>The south-west region relies a lot on local and international tourism. There is much anticipation for the start of the interstate direct flight from Melbourne to Busselton which started in March. </span>The timing, however could have been better as the slow down caused by the reaction to the spread of COVID-19 is likely to limit the number of travellers and tourists visiting the region at a time when it was hopeful there would be a significant increase in this sector.</p>
<p><span>There are a number of large residential subdivisions on the outskirts of Bunbury, Busselton and Margaret River which hold a large number of affordable properties.</span></p>
<p><span>A three bedroom unit in Bunbary was sold for $215,000 in April.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-wa-bunbury-133296874" target="_blank">10/180 Forrest Avenue</a> (pictured below) unit comes with open plan kitchen, meals and family room, outdoor patio area and double garage plus storeroom.</p>
<p>It is situates closed to shopping centres, schools and parks. </p>
<p><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/2020/5/25/bunbury.jpg" alt=""></p>
<p><span>The report notes first home buyer activity has been on the increase in these areas however this is also likely to stall due to the uncertainty over the outcome of the effects of COVID-19. It is anticipated that new building construction is also likely to stall as a result of this.</span></p>
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<p><span>The residential market in Cowaramup has outperformed most other towns in the region. As the number and quality of houses in the suburb increases and the town becomes more established, demand has also increased. Land sales were at their lowest level in ten years in 2019 which is an indication of the low levels of residential land now available in Cowaramup. With good demand and low supply of land, values are expected to increase in the short to medium term.</span></p>
<p><span>Kalgoorlie is the major city within the eastern goldfields region – located some 600 kilometres east of Perth. Known for its gold mines, there have been many excavation projects of all sizes here. KCGM Super Pit produces up to 800,000 ounces of gold annually. The Kalgoorlie-Boulder area has a median house price of $290,000, falling three percent over the December 2019 quarter, however the region has seen some positive signs of late as Piccadilly, South Kalgoorlie, Kalgoorlie and West Lamington experienced quartlerly increases between 0.2 percent and 14.8 percent.</span></p>
<p><span>Hannans, Kalgoorlie and West Lamington also showed annual improvements between 0.8 and 4.2 percent. The price of gold has a direct impact on this town’s prospects as many of the workers live in the region.</span></p>
<p>The report notes gold has been a relatively stable long-term investment over the past 20 years. The recent COVID-19 outbreak could potentially see gold prices increasing further due to investors selling stocks and moving to a safer venture in gold. Conversely, prices could also drop in the short term due to a lack of demand from Chinese manufacturers and jewellers.</p>
<p>In 2019, China held the largest portion of demand in the world for gold at 33 percent, so it will be interesting to see which direction the market shifts towards.</p>
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<p><span>"COVID-19 will no doubt have significant negative economic outcomes. Historically in times of uncertainty investors look to consolidate their capital instead of growing it through new ventures, and this will certainly slow the market down further. </span></p>
<p><span>"Government subsidies and cash rate cuts may come in hopes of stimulating the economy, although it will be hard to curb consumer sentiment when we are faced with a global pandemic.</span></p>
<p><span>"It’s not all bad news though - investors and residents with secure jobs may be able to find great value in the property market over the coming year," the valuation firm said. </span></p>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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How will COVID-19 pandemic impact Western Australia property market: HTW residential

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<div>The greater Darwin residential market, like other cities, faces many influences and drivers of market sentiment and ultimately price movement, according to a recent Herron Todd White (HTW) residential report. </div>
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<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. </div>
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<p><span>To begin, and more prominent for all regions and sectors of Australia, is the impending economic fallout from COVID-19 or Coronavirus.</span></p>
<p><span>"Without taking away from the seriousness and current health implications of this, we see the wider economic fallout from this virus having a much wider reaching and larger impact on our property market and all markets in general.</span></p>
<p><span>"Without sounding too negative, sentiment will take a battering in the short term, with the long term implications still unknown at this stage. Uncertain times ahead!" the valuation firm said. </span></p>
<p><span>Secondly, and most applicable to Territory markets, is population growth, the report noted. The growth or more correctly, lack thereof, has a very big say in how our local market will go. </span></p>
<p><span>As noted in previous Month in Review issues, Darwin and the wider Territory’s population has been either steady or in decline over the past two to three years, where all other states experienced growth. </span></p>
<p><span>Unfortunately not only does this create a smaller pool of buyers, but local community sentiment takes a hit. While the reduced population number is small, it’s<br>not an increase. </span>People and businesses see this as a negative.</p>
<p>"While we see the long term (two years plus) outlook as relatively positive due to large scale projects currently in the pipeline, this does not relieve current sentiment in the short term.</p>
<p>"Ultimately this leads to a reduction in prices across all sectors of the Darwin property market. We currently have the lowest median house price at $460,065 as at December 2019 (source: REINT) of any capital city and a big reason is due to lack of growth in our population," the valuation firm said. </p>
<p>A four bedroom house in Darwin's northern suburb Leanyer is currently on the market with $469,000 hopes. </p>
<p>The <a href="https://www.realestate.com.au/property-house-nt-leanyer-133068594" target="_blank">2 Ridgehaven Circuit</a> home (pictured below) comes with two bathrooms, family room, kitchen with electric cooking and double carport. </p>
<p>It also features covered patio area, in ground pool and garden shed. </p>
<p><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/2020/5/25/leanyer.jpg" alt=""></p>
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<p><span>The cash rate sits at 0.25 percent (as of 19 March 2020), the lowest in history for our country and with the impending effects of Coronavirus, is widely tipped to reduce further.</span></p>
<p><span>"We saw an uplift in sales volumes for the December quarter with 33.3 percent for dwellings sales across Darwin overall (source: REINT) yet no change, or zero percent in total dollar sales volumes for the quarter. </span></p>
<p><span>"What this is telling us is that the Territory market looks to be turning with regard to volume and we see this trend as likely to continue with lower median home values showing why we can have an uplift of one-third in sales volumes yet no increase in overall value.</span></p>
<p><span>"</span>We see this as a shining light and hopefully a shift in market sentiment that will continue," the valuation firm commented.</p>
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<p><span>A driver of the increased volumes is also the investor market. Corelogic’s March 2020 report shows Darwin as having the strongest gross residential yields of all capital cities at 5.9 percent.</span></p>
<p><span> Whilst most owners are experiencing low or no capital growth, they are underpinned by positively geared assets, a great incentive for those looking to get into the market or avoid the low yields of other capital cities. </span></p>
<p><span>With the financial market and stock exchange facing volatility, bricks and mortar is likely to offer more security to investors.</span></p>
<p><span>It is hard to look past the current situation of COVID-19. This is causing a raft of issues that will have wider reaching implications for the Territory, the report noted. </span></p>
<p><span>Tourism is something that coming into the peak dry season (southern winter months) allows local businesses to really thrive on the back of warm weather. With the recent travel bans, lack of domestic travel and social distancing concerns, it is hard to imagine the local sentiment garnering any positivity.</span></p>
<p><span>The Northern Territory government is delivering a $65 million Jobs Rescue and Recovery Package (source: https://business.nt.gov.au/recovery) stimulus for Territorians that will ease some pain in the short term however with business looking into a lean few weeks and months ahead, the outlook is not great. </span></p>
<p><span>"We see this as having a direct impact on local property markets, particularly commercial, as tenants and businesses feel this pinch. The positive </span>upside is for the residential market where home renovations can be carried out and largely funded by the government," the valuation firm said. </p>
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<p><span>Speaking locally with agents and reflecting on sale data, we are seeing the uptake in sales volumes being driven by first home buyers, reflecting the Commonwealth Government’s guarantor loan scheme where first home buyers can buy properties up to $375,000. </span></p>
<p><span>"We are seeing properties of value with the most activity, with 54% of sales occurring at a price below $350,000 in the inner Darwin unit market," the valuation firm said. </span></p>
<p><span>The inner Darwin unit market has shown a 4.4 percent increase on the December quarter and 13.1 percent on </span>the year in recorded sales volumes (source: REINT).</p>
<p><span>A waterfront apartment in Darwin City has recently been sold for $402,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-133424434" target="_blank">5005/5 Anchorage Court </a>home (pictured below) comprises two bedrooms, two bathrooms, open plan living and dining room and private patio. </p>
<p><span>It also features internal laundry, two basement car parks and complex swimming pool.</span></p>
<p><span><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/2020/5/25/darwin%20city%201.jpg" alt=""></span></p>
<p><span>Local commentary around is showing an increase in the younger professional market and first home buyers keen to take advantage of the great schemes on offer. </span></p>
<p><span>"As we continue to ride out the economic impact of the current global economic situation, we believe that this sentiment will continue for our first home buyers throughout 2020,: the valuation firm stated. </span></p>
<p><span>All external issues aside, one factor of the market that we continue to rely on is the strength of the coastal northern suburbs market which continues to buck the trend and ride out outside factors. This is evident with a 61 percent increase in sales volumes for dwellings on the quarter and an increase in median value of 0.4 percent. </span></p>
<p><span>This is </span>not directly attributed to falling prices or cheaper properties, with 33 percent of these properties having a value of more than $600,000. While these are well off the peak of the market, to echo the earlier point, if there is volume first, higher values will come second when an economy begins to turn.</p>
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<p><span>"Generally speaking, wide sweeping societal changes are coming and some are now in force with the key element being the current Coronavirus pandemic. This is tipped to have a huge impact on the wider economy with the brunt of this yet to be felt. However, we are yet to see any direct impact locally here in the property market, although it is early days. </span></p>
<p><span>"Historically, when a stock market crashes we see an asset such as a home being far more illiquid than shares, not to mention that people will always need a place to live. So while we may see fewer transactions in the market, locally the property values may remain insulated from such losses, but this remains to be seen." </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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Darwin property market yet to see direct impact of COVID-19 pandemic: HTW residential 

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<p class="first-para">Bolinda at Ascot Vale, which has a long history in the arts, had been listed with expectations between $3.7 million and $3.95 million.</p>
<p class="first-para">It is now seeking just $3.3 million - $3.5 million as their original price hopes were reduced.</p>
<p class="first-para">The historic Ascot Vale manor has had just three owners since it was built 136 years ago.</p>
<p class="first-para">The four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-ascot+vale-133328186" target="_blank">43 Kent Street</a> last traded 57 years ago.</p>
<p class="first-para">The Italian Renaissance style house is in need of some renovation.</p>
<p class="first-para">It was owned for nearly six decades after being built for the McClelland family in 1884.</p>
<p class="first-para">The family set up an artists’ group and later built the McClelland Sculpture Park and Gallery in Langwarrin.</p>
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Bolinda, Ascot Vale listing reduced from $3.95 million hopes

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<p>Just Cuts founder and CEO Denis McFadden has sold Hickory Hill, his Southern Highlands home for $2,275,000.</p>
<p>McFadden had the Canyonleigh Home custom-built in 2009.</p>
<p>He had resided on the 32 hectare property in the 1900s five bedroom farm house after paying $643,000 for the estate with views out over the cliff of Canyonleigh in 2004.</p>
<p>He moved in to the new home in 2011.</p>
<p>Marketed as a classic bush retreat in rolling paddocks and white gums, the four bedroom home was designed to have views from every room, particularly the internal plunge pool and separate spa which is wrapped in glass walls.</p>
<p>The master suite features a walk in wardrobe and en suite with a shower that has floor to ceiling glass looking out to the bush surrounds.</p>
<p>Built with a focus on thermal design, the home has concrete floors throughout and a double sided fireplace separate the living area and the media room.</p>
<p>Drew Lindsay Bowral agent Sam Lindsay had a $2.5 million guide.</p>
<p>McFadden was a hairdresser in Sydney before moving to London where he opened his first salon in the Marble Arch area at the top of Oxford Street in the 1960s.</p>
<p>He returned to Australia in the late 1970s opening a salon in Sydney before founding Just Cuts in 1990. There are now over 200 Just Cuts across Australia and New Zealand.</p>
<p>The first Just Cuts opened in London earlier last year. </p>
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