<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

[smartcode_project_cta:default project_id=150128]

Construction to commence at luxury Glen Iris townhome project, Orchard Mews

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

Luxury developments and Rothelowman go hand in hand.&nbsp;

The award-winning architecture firm were engaged by DM Property to design their Sandringham development, Early 3191, which features 35 three and four-bedroom townhouses.

Rothelowman Principal Stuart Marsland said the brief Rothelowman were given for Early 3191 was to create a series of townhomes that would elevate the standard of suburban living in Sandringham.

"The brief was to bring townhome living to a new level in Sandringham and deliver a series of homes through a calm landscape driven concept with a generosity for spacious living," Marsland said.

[smartcode_project:default project_id=138081 project_image_fid=209564]

"The design vision was centred around simplicity, community space, rebuilding the street, amplifying landscape and ensuring the future of suburban living."

Rothelowman drew inspiration from the surrounding coastal areas and neighbouring heathlands, which are reflected in the unified and simple palette of materials and colours used throughout the development.

"The site’s context was extremely important to the design of Early 3191," Marsland added.

"Sandringham has a laid- back luxury feel, overlaid with pockets of deep vegetation. This provided the inspiration for the palette and vibe of the townhouses. Examples of how this are the position of the front gardens and how they open onto the street, and the continuous public landscape."

[smartcode_project:default project_id=138081 project_image_fid=209568]

The townhouses were designed to fit seamlessly into the Sandringham context, with the unique deep nature reserves and generous front gardens transforming the atmosphere in George Street.

Marsland said it is&nbsp;important to the architecture firm that each Rothelowman design attributes significance to the physical and social fabric that surrounds every project.

"Early 3191 is a premier example of this."

Sustainability was a significant consideration in the design process, with features such as solar orientation, solar panels, rainwater tanks, and bicycle storage racks incorporated into the development.

[smartcode_project:default project_id=138081 project_image_fid=209565]

Rothelowman Senior Associate, Kylie Caruana, said that as custodians of&nbsp;our neighbourhoods, our cities and of future generations, Rothelowman understands the importance of making sustainable design decisions.

"No matter the brief, the design solutions that our teams create must incorporate authentic strategies to minimise imbedded energy - in materiality, orientation and functional layouts - and energy use throughout the life of the building," Caruana said.

When it came to the interior design of Early 3191, Rothelowman worked collaboratively with Adele Bates to refine the interior design concept and bring the project to life.&nbsp;

[smartcode_project:default project_id=138081 project_image_fid=209567]

"As interior designers ourselves, we understand the importance of the connection between architecture and interior design. The attitude to our approach remains the same when collaborating with other interior practices," Caruana said.&nbsp;

"For this particular project, Rothelowman provided innovations in town home layouts and the overall design approach for Early 3191. From there, we worked collaboratively with Adele Bates to refine the interior design concept to bring the project to life."

[smartcode_project_cta:default project_id=138081]

Rothelowman Principal Stuart Marsland said the brief Rothelowman were given for Early 3191 was to create a series of townhomes that would elevate the standard of suburban living in Sandringham

Elevating the standard of living in Sandringham: How Rothelowman designed Early 3191

Melbourne is set to witness one of the largest masterplanned community developments, as Hamton, in partnership with Moonee Valley Racing Club and Hostplus, transforms the Moonee Valley Racecourse into a world-class destination.

The $2 billion redevelopment will comprise of eight precincts, featuring residential developments, community hubs, green open spaces and dining options. The latest addition to this grand project is the hotly anticipated Trackside House apartments.

These apartments offer residents a chance to live right alongside the Moonee Valley Racecourse and enjoy unparalleled views of the city skyline. Designed by Rothelowman with interior design by Carr, Trackside House comprises 202 residences, ranging from one-bedroom apartments starting at $565,000 to grand three and four-bedroom residences, including the penthouse priced at $5 million.

[smartcode_project:default project_id=105114 project_image_fid=210517]

With its prime location, Trackside House is the first trackside residence to be offered in the masterplan. Residents will have access to premium amenities, and the opportunity to enjoy the unique lifestyle the masterplanned community offers.

Trackside is joined by three other residential projects, with Feehan Row and Thomas Street both sold out and limited opportunities remaining in Stonepine House, showcasing the demand and interest buyers have shown in the community.&nbsp;

The masterplanned community development will also feature various public spaces, including Stonepine Square, Cox Place, Tote Park, Rumpus, and The Stalls at Moonee Valley Racecourse. These public spaces provide a gathering place for visitors and residents to enjoy a dynamic, healthy lifestyle.

Stonepine Square is an idyllic gathering space built around existing turn-of-the-century Stone Pine trees. It features Mediterranean-themed plantings, shady pergolas draped with vines, and is perfect for a casual lunch or BBQ.

Cox Place is the vibrant heart of Moonee Valley Park, providing access to shopping, dining, work, and wellness. It is the ideal place to gather, linger, dine, work, and celebrate in this civic heart.

[smartcode_project:default project_id=105114 project_image_fid=210518]

Tote Park, the first publicly accessible space available to visitors and residents, is now open. It boasts spacious rolling lawns, serpentine gardens, and a nature playground for families.

Rumpus is a destination playground where children can run free and enjoy skipping, jumping, and rolling over. Parents can relax in the adjacent café or enjoy a picnic with produce from Cox Place while keeping an eye on their little ones.

The Stalls at Moonee Valley Racecourse, situated in the historic spot where racehorses gather on race days, will transform into an active place for the community to enjoy during the rest of the year.

The Arena, another public space in the masterplan, will change the face of Moonee Valley Racecourse. It will serve as a welcoming space for the community to gather and enjoy local festivals and family-friendly events throughout the year.

[smartcode_project:default project_id=105114 project_image_fid=210526]

The transformation of Moonee Valley Racecourse is set to be the biggest in the club’s history, with a brand-new world-class sporting and events grandstand that will serve members and the community for the next century.

The Moonee Valley Racecourse fields, reserved for racing for only 30 days per year, will be transformed on non-racing days into a unique area for residents, workers, club members, and visitors to enjoy a dynamic, healthy lifestyle.

The grand project has already sparked interest from buyers and investors alike, and with the launch of Trackside House, it's only set to grow. The Moonee Valley Racecourse redevelopment will undoubtedly change the face of Melbourne's property landscape and become a destination for years to come.

[smartcode_project_cta:default project_id=105114]

Cox Place is the vibrant heart of Moonee Valley Park, providing access to shopping, dining, work, and wellness. It is the ideal place to gather, linger, dine, work, and celebrate in this civic heart

How Trackside House fits in to the wider Moonee Valley Park masterplan

Sunkin, the renowned Melbourne-based property developer, has established a reputation for integrating communities seamlessly into the urban landscape.

They're now launching their much anticipated project Highett Common, which aims to bring refined living and natural elements to the&nbsp;9.63-hectare former CSIRO site in the heart of the suburb.

Set to deliver the best of Bayside living, Highett Common will benefit from being near to a plethora of amenity, including Highett Train Station, which is just 100 metres away, as well as being under five kilometres from Sandringham Beach, just over a kilometre from Southland Shopping Centre and right next to a Woolworths.&nbsp;

[smartcode_project:default project_id=108019 project_image_fid=212557]

Each neighbourhood in Highett Common will have its own character and residential landscape, created through streetscapes, green amenity, and distinct built forms by a collaborative team comprising ClarkeHopkinsClarke Architects and Tract Landscape Architects.

Pockets of residential neighbourhoods are nestled between the three-hectare Conservation Reserve at Southern Common and the one-hectare park and playground at Northern Common.

Tree lined boulevards provide access for cars while The Mews connects pedestrians and cyclists to their homes and the parks, gardens and community amenity of Highett Common.

The first building to hit the market is Park House, the coveted first residential release, is tucked amongst the greenery that defines the sustainably-minded precinct, designed to reintroduce nature to modern life.&nbsp;

Park House opens to the local playground and The Mews,&nbsp;settling within pockets of carefully composed spaces that facilitate play, ride, relax, and explore.

[smartcode_project:default project_id=143259 project_image_fid=243948]

Park House features one, two and three-bedroom residences that are versatile and designed to connect with the surrounding environment which features expanses of pillowy lawns, pathways shaded by canopy trees and social places to sit and enjoy the outdoors.&nbsp;

Priced at $10,000 per sqm, Park House also presents significant value for money when compared to surrounding suburbs such as Sandringham, Hampton and Brighton.&nbsp;

The $500 million masterplanned development, which will home over 1000 residences when completed, featuring diverse, architecturally designed homes that offer scenic views of the surrounding conservation reserve and parkland.

The site is bordered by expansive parkland and connected by wide, tree-lined corridors and boulevards, creating a rare synergy of natural landscapes and built environments.

A series of carefully curated resident amenities bring resort living to the every day at Highett Common. Conceived as an engaging social landscape for lounging, entertaining, and wellbeing, the development boasts state-of-the-art gymnasiums, residents' swimming pools, and impressive finishes and design that deliver on spaces to host a gathering and elevate entertaining alfresco with friends and family.

[smartcode_project:default project_id=108019 project_image_fid=212515]

Sunkin is also participating in Homes for Homes at Highett Common, an independent, not-for-profit organisation established by Australia's largest and most successful social enterprise, The Big Issue. With research forecasting a deficiency of over 1 million homes in Australia by 2036, time is of the essence to change the narrative.

Homes for Homes encourages registered property owners to donate a small, tax-deductible sum of 0.1 per cent of their property's sale price to create new social and affordable housing in required locations. Donations are pooled with other contributions in your state or territory to make affordable housing more accessible to vulnerable Australians.

[smartcode_project_cta:default project_id=108019]

Sunkin launch Park House at sustainable masterplan, Highett Common

Galerie, a collection of luxury residences, has emerged in the heart of the Glen Iris neighborhood, offering a new standard of contemporary living on High Street.

Driven by a passion for art, GALERIE features a carefully curated private collection of world-renowned artworks, as well as innovative architecture and luxurious outdoor spaces.

The project is the result of a collaboration between industry luminaries, including LDS Property, Ewert Leaf, and John Patrick Landscapes.

[smartcode_project:default project_id=112375 project_image_fid=204402]

The building's facade showcases an asymmetrical architectural form that is both dynamic and elegant. The use of brick, timber, and concrete creates a sense of depth and dimension, while cascading greenery softens the linear composition.

As residents enter the gallery-style lobby, they are welcomed by a bespoke Chaumet Chandelier, adorned in luxurious brushed gold finishes.

The lobby's textured walls are lined with a curated private collection of world-class artworks, evoking a sense of refined grandeur. The lighting fixtures in the lobby create a serene and calm atmosphere that conjures an undeniable feeling of "coming home."

[smartcode_project:default project_id=112375 project_image_fid=204412]

Each residence at Galerie has been designed for the cosmopolitan lifestyle, with generous open-plan living areas imbued with artistic luxury.

The sun-bathed kitchens, seamlessly integrated with the living areas, is a culinary delight, fitted with European appliances, fully-integrated cabinetry, and ample storage which create a functional and stylish space.

“Every aspect of the homes has been carefully thought out, particularly the bespoke joinery detailing in the kitchen, living room and bathroom,” Ewert Leaf's Associate Director, Simone MacGinley said.

[smartcode_project:default project_id=112375 project_image_fid=204411]

Each of the homes also features a fireplace, complete with natural stone finishes, oak engineered timber flooring, and organic tones.

Greenery was key feature in the design of GALERIE, with the lush outdoor spaces providing residents with a peaceful retreat from the bustling city.

“We’ve designed everything so that the open plan living spaces flow seamlessly out to the courtyards, with large sliding doors that provide direct integration to the surrounding landscape,” Director John Patrick said.&nbsp;

[smartcode_project_cta:default project_id=112375]

Driven by a passion for art, GALERIE features a carefully curated private collection of world-renowned artworks, as well as innovative architecture and luxurious outdoor spaces

GALERIE: A masterpiece of artistic luxury in the heart of Glen Iris

Williamstown,&nbsp;Melbourne’s first port settlement,&nbsp;has experienced significant price growth over the years, making it an attractive place to live for families, professionals, and retirees.

Williamstown has managed to keep a lid on its population over the last decade. The 2011 census found just over 13,000 residing in Williamstown. The latest census figures show almost a 10 per cent growth over the last decade, the population now nearly 14,500.

The population growth rate points to limited opportunity within the small maritime location. If developers can't secure land and develop, population growth will always be capped.&nbsp;

The increase of just 1,000 people in Williamstown means what AVJennings is bringing to the suburb with their recently released Merchant Apartments, part of their wider Waterline Place masterplan community, is incredibly rare.

[smartcode_project:default project_id=112774 project_image_fid=197060]

A range of housing options have been made available in the precinct, with Merchant currently offering one, two and three-bedroom floorplans, in addition to a collection of exclusive Sky Homes on the upper levels.

According to date from CoreLogic, the median growth in Williamstown over the past 12 months has been 6.31 per cent for units, with the average apartment on the market for just 37 days. Units also fetch a&nbsp;3.34 per cent rental yield, making the area a viable option for investors.&nbsp;

Waterline Place is located just 12 kilometres from the CBD and just a short walk form Williamstown Train Station, making it an ideal location for those who work in the city but want to enjoy a more suburban lifestyle.&nbsp;It is also close to the waterfront, providing residents with easy access to a range of recreational activities.

Approximately 4,009 families call the suburb home currently with Waterline Place benefitting from its positioning in the coveted Williamstown High School zone.&nbsp;

[smartcode_project:default project_id=112774 project_image_fid=197058]

Significant infrastructure upgrades in recent times have also drawn a number of residents to the suburb, with improvements to public transport, roads and bike paths.&nbsp;The construction of the West Gate Tunnel project is set to further improve the suburb's connectivity to other parts of Melbourne,&nbsp;with the project giving Melbourne a second freeway link between the west and the city, providing a much needed alternative to the West Gate Bridge and a vital second river crossing.

There's also a number of cafes, restaurants, shops and supermarkets dotted around the suburb, in addition to several green spaces and parks, including Williamstown Botanic Gardens and the Jawbone Marine Sanctuary.&nbsp;

Complete with a vibrant ground floor retail offering and a uniquely designed communal rooftop space, with sweeping views to the city and Hobsons Bay, Merchant Apartments have been designed by internationally acclaimed architects, Elenberg Fraser.

Construction is underway on the apartments, with completion slated for 2024.

[smartcode_project_cta:default project_id=112774]

The increase of just 1,000 people in Williamstown means what AVJennings is bringing to the suburb is incredibly rare.

Why Merchant Apartments offers an almost unrepeatable opportunity to buy new in Williamstown

Melbourne's bayside suburb of Cheltenham is fast becoming a go-to location for families seeking a suburban lifestyle that's still conveniently connected to the city.

The leafy, peaceful streets, numerous parks and reserves, and easy access to public transport, make Cheltenham an attractive choice for many.

Shenfield Property Group's latest residential development, Plenteous, is set to provide residents with the perfect combination of contemporary living and convenient location.

[smartcode_project:default project_id=136588 project_image_fid=208418]

Located in the heart of Cheltenham, Plenteous offers just eight architect-designed townhouses and apartments that feature elegant, functional, and energy-efficient designs.

The development is set among quiet, leafy surrounds and boasts a parkland frontage, making it a peaceful oasis in the heart of the bustling suburb.

[smartcode_project:default project_id=136588 project_image_fid=208416]

Plenteous residents will benefit from the project's proximity to the Southland Shopping Centre, which is one of the largest shopping centres in Melbourne and offers a vast range of shopping, food, and entertainment options.

And with the suburb benefitting from it's own train station, residents can easily and conveniently access the city, which is just under 20 kilometres away, while there's&nbsp;also several bus routes that service the area.&nbsp;

[smartcode_project:default project_id=136588 project_image_fid=208420]

But it's not just shopping and entertainment that Cheltenham has to offer. The suburb is home to several parks and reserves, including the sprawling 30-hectare Cheltenham Park, which features a playground, picnic areas, walking trails, and lake.

For those who enjoy a round of golf, Cheltenham is home to some of Melbourne's finest golf courses. And with the beach just a stone's throw away, residents of Plenteous can enjoy all the benefits of a bayside lifestyle.

Education is also a priority in Cheltenham, with a variety of quality schools and education options available.&nbsp;

[smartcode_project_cta:default project_id=136588]

Located in the heart of Cheltenham, Plenteous offers just eight architect-designed townhouses and apartments that feature elegant, functional, and energy-efficient designs

Tapping into Melbourne's Bayside: How Plenteous takes advantage of it's location in Cheltenham

Carnegie is set to welcome a new development that promises to redefine modern industrial living, with local developers ITUM launching a striking collection of apartments.

Aptly named Mimosa Row due to its location on the leafy Mimosa Road, Mimosa Row will comprise just 40 two and three-bedroom apartments, starting from a generous 85 sqm. Some of the three-bedroom apartments span over 200 sqm.

Mimosa Row offers a rare proposition for buyers. Despite the project's early stage of marketing, developer ITUM, who have previously completed Hunter Prahran and Meridian in St Kilda, already have their builder signed up. They're using Platinum Construction to handle the build of the BG Architecture-designed development.

[smartcode_project:default project_id=139888 project_image_fid=212595]

The building takes&nbsp;the form of a U shape, allowing for more natural light to flow into the apartments, while classic clean lines and neutral colours have been utilised throughout to give Mimosa Row a timeless feel.&nbsp;

Apartments on the second level of the two-level building have loft-style balconies, while the ground floor apartments have their own private outdoor garden.

Krisp Interiors have handled the interiors, with each apartments featuring Bosch appliances, built-in wardrobes as standard, and work-from-home spaces.

[smartcode_project:default project_id=139888 project_image_fid=212594]

Mimosa Row is conveniently located just over 10 kilometres from Melbourne's CBD and just under three kilometres from Chadstone Shopping Centre. It is also moments away from the lauded Koornang Road dining precinct, which features a wide range of shops, restaurants, cafes, and bars.

There's also an abundance of transport links providing a seamless connection for residents to the nearby city centre, while green spaces are also a plenty, with Koornang Park the most notable, which features a playground, sports fields, and a walking track.

ITUM has signalled an estimated completion date of January 2025 for the project which is being marketed by Three Sixty Property.

Three Sixty Associate Director Nihal Peter expects a mix of first home buyers and downsizers&nbsp;who want to live in a leafy quiet street, but want access to Koornang Road, East Malvern, Monash Uni and Chadstone shopping centre.

[smartcode_project_cta:default project_id=139888]

The building takes the form of a U shape, allowing for more natural light to flow into the apartments, while classic clean lines and neutral colours have been utilised throughout to give Mimosa Row a timeless feel

Carnegie to receive injection of new apartments as Mimosa Row launches

Everything is pointing to a prolonged growth cycle in the Melbourne property market.

From immigration forecasts to supply issues, with a sprinkle of increase buyer demand now the RBA has signalled the official cash rate is close to its peak, the belief is that Melbourne property is ready to boom.

First and foremost, the markets look to have bottomed. CoreLogic's Home Value Index showed another month of stable values, a modest 0.1 per cent gain in unit values and 0.2 per cent in house values as markets recover from a near year long downturn.

And as quickly as the markets showed signs of recovery, buyers have been back in force. Melbourne was the busiest auction market this week, with a preliminary clearance rate of 78 per cent, the highest clearance rate the Victoria capital has seen since October 2021.

“There’s countless reasons to be confident about the short, medium, and long term prospects of the apartment market in Australia, particularly in Melbourne," Apartments.com.au Chief Executive Mike Bird says.

"The immigration numbers forecasted will put huge pressure on the government to act, as there’s simply not enough housing, both currently and in the pipeline, to keep up with population growth. We've got a range of government incentives for buyers, but developers need to be incentivised to build.

Melbourne recently overtook Sydney as Australia’s most populous city, the first time since 1905 Melbourne topped the charts. Melbourne had been outpacing Sydney for the last decade, primarily down to international migration. The 2021 Census suggests there are 4.875 million who call Melbourne home, a number which will reach around eight million by 2051.

Projects by Buxton Director Heath Thompson says he doesn't believe we're having to look into a crystal ball anymore when predicting the next phase of the Melbourne property market.

"It takes about 4-5 years to realise a project, and that's if people are transacting on sites now, which we know they're not," Thompson says, suggesting we're around 5-6 years away from supply even remotely keeping up with demand.

[smartcode_project:default project_id=112375 project_image_fid=204404]

"Cost of construction isn't coming down, development approvals are down, building starts are down, and there's no sign of that changing anytime soon. Any project being built now is gold really, because the next one has to be more expensive than the last, or it won't be built."

Sunkin's Head of Sales and Marketing, Scott Jessop, says in this current environment of low supply, it doesn't seem to matter where the projects are located, there's a strong response everywhere.

"There’s always key locations and blue chip suburbs, but currently there’s not an area of the market that isn’t seeing demand, which is evident in auction clearance rates consistently sitting over 70 per cent," Jessop says.

[smartcode_project:default project_id=108019 project_image_fid=212514]

While rate hikes are all but over, Jessop says there are still some buyers who have issue with finances, many who have seen their budgets cut by 10 to 20 per cent in the last 12 months. He does however suggest more prospective buyers, who were maybe keen on sitting on their hands in the short term, have moved into "decision mode" following the pause from the RBA.

Sunkin have had a great response to their soon-to-be launched Highett masterplan, Highett Commons, with over 300 enquiries just through the project website. They'll be launching the sustainability-focussed project mid-May.&nbsp;

[smartcode_project:default project_id=108019 project_image_fid=212557]

Highett Commons will assist in Melbourne's chronic supply issues.

Charter Keck Kramer found that around 13,500 apartments need to be built each year in Melbourne to support the population growth. There were just 6,300 apartments completed in 2022 in Metro Melbourne, across 94 projects.

Marshall White Director Leonard Teplin says the population surge has created a supply and demand imbalance.&nbsp;

[smartcode_project:default project_id=8945 project_image_fid=178925]

"The immigration and housing crisis in Australia is worsening, particularly in Melbourne," Teplin says.

"The government has pledged to build 10,000 homes a year, but with millions of visa applications pouring in, more effective action is necessary.

Teplin believes that, while short-term fluctuations may occur, Melbourne's population growth and limited housing supply are expected to sustain demand for new construction and off the plan properties.

"The current market conditions present investment opportunities in Melbourne's property market.”

RPM Projects Director Nic Cuni says townhouses, or boutique apartment projects, have been in favour in 2023. Cuni says he's seen a large difference however in what has always been deemed as "inner-city".

"Typically inner-city has been between 2-10 kilometres from the city, but we’ve been finding recently, due to the affordability issues in Australia, that is now extended a little bit further out."

Cuni has found success in RPM Group's first project their newly formed project marketing division has launched, DM Property's Early 3191.

[smartcode_project:default project_id=138081 project_image_fid=209564]

The 35 Rothelowman-designed townhouses are exactly what buyers want in Bayside, Cuni says.

"Buyers want the postcode without the price tag. They want to get into the suburb they love, that they can get their favourite coffee, food etc, but pay less than the average house price."

An uptick in enquiry and buyer presentations has been seen by Next Chapter Projects Director Tom Hirini, which is translating into a moderate increase in sales. Hirini however says there's still a small element of buyer hesitancy given how well researched buyers are nowadays.

"Buyers are still very alert to the challenges the construction industry is facing with increasing material costs and labour shortages," Hirini says.

[smartcode_project:default project_id=112765 project_image_fid=200556]

"Confidence behind the developer and builder has never been more important to purchasers.

"I can see the sentiment towards off-plan purchases improving significantly once the headwinds the construction industry is facing abate."

From immigration forecasts to supply issues, with a sprinkle of increase buyer demand now the RBA has signalled the official cash rate is close to its peak, the belief is that Melbourne property is ready to boom.

City Beat May 2023: Prolonged growth cycle for Melbourne's off the plan apartment market?

The Lendlease apartment community, Toorak Park, arguably holds one of the best locations in the affluent suburb.

The completed mini masterplan gets its name from the neighbouring Toorak Park on Orrong Road, which has stood proudly at the heart of the area since it was opened in 1893.

It is most well known as the home of the Prahran Football Club, who played in the now defunct VFA. More recently the&nbsp;Old Xaverians and Prahran Assumption, who play in the VAFA, call it home, as do the Prahran Cricket Club, who play in the Victorian Premier Cricket competition.

[smartcode_project:default project_id=377 project_image_fid=211681]

The sports ground is getting a full overhaul by the local council, which is well underway. The current pavilion is being demolished, and will be replaced with a new Jackson Architects-designed pavilion with new lighting and terraced seating.

While under construction, with a forecasted end date toward the end of 2024, Toorak Park residents are only another 100 metres down the road from Orrong Romanis Reserve, home of Melbourne Rugby Union Football Club.

[smartcode_project:default project_id=377 project_image_fid=211680]

Orrong Romanis Reserve&nbsp;has two rugby and cricket ovals and a tennis centre, as well as an off-leash dog space, a playground, and barbecue facilities.

While surrounded by park opportunities, Toorak Park appeals to the city worker, given the location of Toorak train station just the other side of the oval.&nbsp;

Surrounding the train station, spilling onto Malvern Road, is a number of cafes and restaurants, as well as tram and bus stops.

A rare opportunity to buy near-new in Lendlease's completed Toorak Park has come up, after an international fund manager secured a number of one, two, three and four-bedrooms directly from Lendlease when the building was complete.

[smartcode_project:default project_id=377 project_image_fid=33599]

Now they're divesting the portfolio, which is giving apartment seekers an opportunity to buy a near-new unit in Toorak from $520,000.

The 2.5 hectare project was designed in collaboration between&nbsp;<a href="/architects/denton-corker-marshall" target="">Denton Corker Marshall</a>&nbsp;and&nbsp;<a href="/architects/carr-design" target="">Carr Design Group</a>.

The 16 building-project features extensive landscaping by landscape architecture by Tract. Open space makes up about up a third of the development, which also features a&nbsp;bluestoned plaza with a convenience store and cafe, as well as communal gardens.

[smartcode_project_cta:default project_id=377]

The completed mini masterplan gets its name from the neighbouring Toorak Park on Orrong Road, which has stood proudly at the heart of the area since it was opened in 1893

Toorak Park: The inviting park side lifestyle in Melbourne's most affluent suburb

Design-led developer Lowe Living has partnered with established property developer and financer ICON Kajima to deliver its $160 million mixed-use project in South Melbourne which has received a fast-tracked planning permit after just four months.

The announcement comes after Lowe Living first acquired the site at 200 Clarendon Street and achieved the fast-tracked planning permit, which motivated Lowe Living to bring on a trusted joint venture partner in the form of ICON Kajima to accelerate the project’s construction timeframe.

The swift approval was a result of Lowe Living’s intrinsic focus on market-leading design, architectural expression – led by architect Woods Bagot – and functional built-form which gave the City of Port Phillip confidence in greenlighting the notice of decision (NoD).

The appointment of Woods Bagot as architect also gave council confidence in granting the approval – the practice worked in lockstep with Lowe Living to control design outcomes and create a carefully considered architectural product.

The project will consist of a 2,000 sqm two-level commercial office building with an adjacent 500 sqm car park alongside 1,000 sqm of ground-floor retail, and 36 apartments which range from 110 sqm – 390 sqm across two, three and four-bedroom offerings. The building will be targeting a minimum 7-Star NatHERs rating in operation.

The official sales launch for the $160m project is scheduled to commence in Q3 2023, with construction commencement in Q4. The build is expected to take 18 months.

<img alt="Lowe South Melbourne" data-entity-type="file" data-entity-uuid="a48ec8cb-7cef-4450-9457-83df559bc03f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lowe%20Toorak.jpg?VersionId=I2YJahPz12WipOrzdURpk5gmlboV5v1A" />

Poised to be a leading precinct on the corner of Clarendon Street and York Street, on the edge of the Melbourne CBD, the two groups are focused on delivering functionality, enduring design and trust, alongside luxurious finishes, high-quality end product and leading build quality. As Lowe Living continues to expand its portfolio of larger-scale mixed-use developments across residential, commercial and retail, adding to its already established stable of high-end boutique projects in Melbourne’s bayside suburbs, the South Melbourne joint venture partnership represents the next evolution in the Lowe Living portfolio, said founder and managing director Tim Lowe.

“We feel very confident in South Melbourne’s owner-occupier market, and believe strongly that Lowe Living’s focus on luxury boutique projects across design and quality product will translate to a larger mixed-use precinct," Lowe said.

“The fundamental reason for the joint venture partnership is ICON Kajima’s experience in delivering exceptional projects of comparable size and scale.

“Our aim is to continue to acquire and bring to market 1 – 2 of these larger scale projects per annum; this partnership with ICON Kajima allows us to fast-track this objective for this South Melbourne project while maintaining our current pipeline activity across our boutique division.

<img alt="Lowe South Melbourne" data-entity-type="file" data-entity-uuid="25328225-28a8-4b1a-8ea1-60fab45ff5b2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-04-27%20at%203.33.09%20pm.png?VersionId=JDhDYuZpl7pfk32AjOUY5eWem5uRLhmA" />

“We worked closely with both Woods Bagot and the City of Port Phillip to achieve the permit in under 4 months. The approval means we are now ready to hit the ground running on this major site."

Lowe said the team are actively pursuing further acquisitions across Melbourne.

ICON Kajima Chief Executive Officer Matthew Bourke said they are looking forward to working on delivering&nbsp;a market-leading project to one of Melbourne’s most sought-after commercial areas.

“Icon Kajima is pleased to partner with Lowe Living for what is set to be one of the most exciting built-form precincts in South Melbourne – as has been recognised by the City of Port Phillip.

"The strength of our multi-faceted business model positions us well to deliver quality and scalable mixed-use projects with a structured finance solution. With our proven track record and Kajima Corporations' balance sheet capacity, this will allow the joint venture to realise innovative outcomes and play a significant role in shaping the built environment of Clarendon and York Streets, South Melbourne.”

ICON Kajima has a $1 billion project portfolio of residential, commercial and mixed-use sites across Australia and NZ.

The official sales launch for the $160m project is scheduled to commence in Q3 2023, with construction commencement in Q4



Latest Victoria Property News

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Victoria Property News

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News