A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

Joel Robinson

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

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?

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"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," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"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."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"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=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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Melbourne property developer, Beulah, has achieved 100% settlement success on its $50 million South Melbourne development, Habitus Townhomes, with the majority of the townhomes settling at the peak of the Melbourne lockdown.

The five-storey townhouse project at 10 Boundary Street, which had the support of the CBA and the Lieberman family's Monark Property Partners, comprises 25 townhomes priced from $1.35 million.

Melbourne’s strict lockdown resulted in a suite of new sales tactics, ranging from virtual viewings throughout the lockdown period to settlement discussions over Zoom.

Beulah Managing Director, Jiaheng Chan, said the settlement success is a testament to the quality of the development and the design’s appeal.

“Reaching 100% settlement is an achievement in itself, let alone during a state-wide lockdown where in person consultations were off the table," she said.

Habitus is marketed as "a step up from apartment living and the future for Melbourne’s burgeoning apartment market." 

The townhomes are designed as a vertical living unit with each floor dedicated to a different function.

A majority of the five-storey homes feature a home-office and garage level on the ground floor, a living space on the next level, with the remaining two floors encompassing a bathroom, bedrooms and an additional living space. Each home is topped off with a private rooftop terrace with a functional entertaining space (including an integrated BBQ) boasting views of the CBD skyline.

South Melbourne is also set to be the home of R. Iconic, the high-rise tower at 253-273 Normanby Road which is set to be completed at the end of 2022.

Urban recently toured the display suite of the 456 apartment development which has prices starting from $507,000.
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Melbourne property developer, Beulah, has achieved 100% settlement success on its $50 million South Melbourne development, Habitus Townhomes.

urban.com.au

100% settlement success achieved for Beulah's South Melbourne Habitus Townhomes

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While the anticipated trend might be a post-pandemic pivot away from office to residential projects, one Melbourne developer is sticking to their original intentions.

Developer DeGroup will embark on their new $70 million office tower in Melbourne’s CBD despite concerns over rising vacancy rates.

Founder Colin DeLutis said the group was more than confident that the new building would find a ready leasing market.

Located at 263 William Street, in the heart of Melbourne’s legal precinct, the project is set to rise 75 metres above the Metropolitan Hotel which will be retained with a suite of restoration works.

"With nothing new and modern having been built in the legal precinct for over 20 years, we are quite bullish about the market and very confident about the building’s leasing potential”, DeLutis said.

The company’s confidence diverges from commentary by property experts who have expected a lessening of demand for commercial developments in the Melbourne CBD.

“We’re going to see CBD office buildings converted into residential,” Kernel Property’s Steve Urwin said in July.

This has been supported by recent national office statistics for Q3, released by JLL.  

“The extended lockdown in Melbourne has negatively impacted the leasing market with the availability of backfill space and sublease space contributing to the uplift in vacancy”, said JLL’s head of leasing Tim O’Connor.

According to JLL’s insights, the Melbourne CBD recorded -70,100 sqm of net absorption over the quarter and vacancy increased to 11.3 per cent in 3Q20. 

The presumed push away from offices has yet to influence some Melbourne’s commercial developers who are confident that businesses and their clients want COVID safe, hygienic spaces.

The 20-storey, 7,013sqm building, offers 3,799sqm of office space over 17 levels and features an 822sqm multi-level restaurant and bar.

The self-contained office floors will feature kitchenettes, shower facilities, natural light from all sides and views of Flagstaff Gardens and the surrounding CBD.

Crema Constructions have been appointed as builders of the WMK Architecture designed building.

The tower is due for completion in 2022.
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While the anticipated trend might be a post-pandemic pivot away from office to residential projects, one Melbourne developer is sticking to their original intentions

max.kwok_55688

DeGroup to go ahead with $70m office tower in Melbourne CBD

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Capital Alliance wants to challenge the norm of traditional apartment living with their latest development The Docklands Residences, designed by award-winning DKO Architecture.

With an emphasis on providing lifetime homes for owner-occupiers, the team wanted to ensure buyers could enjoy the same benefits that come with owning a detached dwelling yet live in a fantastic inner-city location. 

By providing homes that people will want to spend years enjoying, this will foster a close-knit community, where neighbours can get to know one another. To support this, the development will also not allow short term rentals, such as Airbnbs. 

<blockquote>
“We genuinely wanted to create a world-class living experience for our residences. Of course, every developer will say this, but how many can say they have effectively banned short stay subletting, such as Airbnb? We understand the nuisance and disruption of short-term leasing causes long-term residences. At The Docklands Residences, we want to create a close-knit community of owner-occupiers where residents feel safe as well as keep the integrity of the building". 
</blockquote>

Mohan Du, Capital Alliance Founder and CEO

Each apartment is equipped with high-end Gaggenau appliances, floor-to-ceiling windows, engineered timber flooring and stylish walk-in showers.

<img alt="" height="750" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the-docklands-residences-3-43-waterfront-way-docklands-70a1e169b507248c1f88c4d7962ab927.jpg" width="1000">

<img alt="" height="619" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the-docklands-residences-3-43-waterfront-way-docklands-94751486a938f370635bcf9a65fa656f.jpg" width="1000">

Taking cues from aerodynamic contours of yachts moored at Docklands, the facade of The Docklands Residences features a graceful, translucent screen which wraps around the building creating shelter for the private winter gardens.

<blockquote>
"To find inspiration for the form of the building, we only had to look at the luxury yachts around Docklands. Our architecture is imbued with a similar elegant, curved design."
</blockquote>

Jesse Linardi, DKO Architecture Design Director

The Docklands Residences will sit atop a brand new 8-floor Marriott Hotel, and residents will be able to enjoy the use of 5-star hotel amenities, including a spectacular infinity pool, gym, sauna and spa, as well as Marriott’s hotel services such as room service, concierge and housekeeping.

The development will include 200 hotel rooms and 88 limited oversized residences, with enviable aspects of the water, city and Bolte Bridge.

<img alt="" height="665" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the-docklands-residences-3-43-waterfront-way-docklands-988a726e9806f8b8fa2370ea39176360.jpg" width="1000">

With construction almost complete and settlement taking place in January 2021, few residences still remain, now selling from $693,000. To learn more or to book an appointment with the sales agent, enquire today via Urban.
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Olivia Round

The Docklands Residences: Designed with the modern owner-occupier in mind

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Set to spend more time in Sydney, the Melbourne architect Rob Mills has sold his award-winning Lorne weekender, Ocean House, for $4.8 million.

It's some way higher than the $3.65 million to $4 million guide offered when it was first listed back in mid-October.

The Trade Winds Avenue property went to private auction after a number of parties showed interest in that range.

<img alt="" height="1325" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mills_2.jpg" width="2000">

Mills bought the 1.3 hectare Trade Winds Avenue property and built the home on a prohibitively steep site, combining the solidity of a cylindrical concrete form with the lightness and transparency of a glass and timber linear space.

“The two personalities of the house work together as one," Mills says.

"The concrete section, which houses the bedrooms is very purposeful, sheltering the house from the storms and deadening sound, in contrast to the connections with nature in the living section". The six bedroom property with rooftop entertaining deck was designed to function as two apartments, with two kitchens and a number of living areas.

<img alt="" height="1309" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mills_3.jpg" width="2000">

It's been a $1,400 a night holiday rental.

“Ocean House is a spectacular property and we have had the pleasure of listing this on Airbnb for so many people to experience. With multiple zones in the home, it is perfect as a coastal escape, private residence or holiday rental. Nature and the land have been vital to the design and experience at Ocean House and I hope these can be enjoyed through the lens of the beautiful architecture on offer," Mills says.

<img alt="" height="1318" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mills_4.jpg" width="2000">

Mills is still seeking a buyer for his luxury Melbourne residence at Armadale.

He has an $8.8 million to $9.4 million guide for the luxury home which Mills bought as a former cardboard factory.

It is now a five bedroom warehouse conversion, each bedroom with their own ensuite. 

There's a lift connecting the three levels, which includes a self-contained two bedroom apartment. There's marble floors, a black and white veined curved Italian marble staircase, one of Mills signature styles, a brass kitchen and a timber-lined 'winter-room' with a fireplace.

“Designing and living in this residence has given me so many fond memories and I am sure its bold architectural statement will endure," Mills says. "It’s exceptionally versatile and offers luxury and comfort for inner-city family living.”
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Architect Rob Mills has sold Ocean House, his award-winning Lorne weekender, for $4.8 million.



Architect Rob Mills sells Lorne weekender Ocean House for $4.8 million

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One of South Yarra’s finest homes is set to sell in the next couple of days.

The Italianate Victorian home on Domain Road, set in Paul Bangay gardens, was built by the Henty family. It was once owned by the merino wool operating Falkiner family, of the well known FS Falkiner &amp; Sons, who in the earlier 1900's was ran by the former politician and grazier Franc Falkiner.

The two level home is currently made up of two apartments, both owned by HWL Ebsworth partner Leon Gorr and wife Judith.

They paid $1.6 million for the upstairs unit, bought from the late businessman Peter Smedley and his wife Christine back in 1999, and then the ground level residence cost $5.5 million in 2011.

Abercromby’s agent Jock Langley says the provenance of the property is second to none. “The scale and scope offered to restore and redefine as one of Melbourne’s most prized assets exist due to the current occupants having the foresight to acquire the two huge apartments and now offer as one,” Langley says.

The expressions of interest close December 10, with early suggestions the home could fetch $25 million.
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South Yarra mansion tipped to fetch $25 million

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Two Edwardian period homes in Melbourne’s inner suburb of Malvern have sold for $6.85 million.

Located at 16 &amp; 18 Thanet Street, the site, which didn’t have development potential, comprised of two unrenovated homes formerly owned by Lady Nell Seeing Eye Dog School.

Prestige Homes of Victoria’s Sean Cussell, who marketed the listing, described the result as a solid result for the vendors and a good indicator in the strength if the inner Melbourne property market.

“We had six offers on the properties through the expression of interest process and the buyers are very happy with their new homes”, he said.

Each of the homes featured four bedrooms, multiple living rooms and original features, including open fireplaces, stained-glass bay windows and fretwork-trimmed verandah.

The 631sqm property at 16 Thanet Street is rumoured to have sold for $3.65 million, while the 836sqm property at number 18 sold for $3.2 million.

Situated within a heritage overlay area, the two homes were deemed significant which likely restricted their development potential.

The homes were sold individually to local families and both buyers intend to renovate the homes immediately.
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Situated within a heritage overlay area, the two homes were deemed significant which likely restricted their development potential

Two Edwardian homes sell in Melbourne's Malvern for over $6.5 million

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Did you know that you could save up to $45,000* on a brand new <a href="/buildings/salt-townhomes-85-grossmans-road-torquay">Salt Townhome</a> if you're a first home buyer? 

The first release of <a href="/buildings/salt-townhomes-85-grossmans-road-torquay">Salt Townhomes</a> in Victoria's coastal suburb of Torquay sold out due to a surge in demand from locals and first home buyers. The second release of beachside terraces are now available, with homes due to receive another wave of demand. <a href="/buildings/salt-townhomes-85-grossmans-road-torquay">Salt Townhomes</a> are eligible for both the $25,000 Home Builder Grant, plus the $20,000 First Home Owner Grant, providing a fantastic opportunity for first home buyers to enter the property market.

<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/image001.jpg" rel="gallery-all" title="Jan Juc brothers Lewie and Tom Wright are very pleased to have secured a Salt Townhome in Stage 1 before being sold out."><img alt="" class="image-article-full-width-580px" height="776" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/image001.jpg?itok=SLtltkJ2" title="Jan Juc brothers Lewie and Tom Wright are very pleased to have secured a Salt Townhome in Stage 1 before being sold out." width="580"></a>

<figcaption>Jan Juc brothers Lewie and Tom Wright are very pleased to have secured a Salt Townhome in Stage 1 before being sold out.</figcaption></figure>Each home boasts light-filled modern living spaces, with first-floor living areas extending to large north-facing balconies. The collection of townhomes have also achieved a 7.5-star environmental rating, thanks to the use of natural building materials, double glazing and solar panels. 

<blockquote>
"This product has hit the spot with discerning townhome buyers who have also given their stamp of approval to the estate's environmental credentials." 
</blockquote>

Sam Parsons, Salt Townhomes Sales Consultant

<blockquote>
"Much of the interest has been from people looking to work from home utilising the high-speed internet and doing it all from a great outlook over Torquay, some with potential water views. With the process to have Torquay's town boundaries locked up well and truly underway, this creates an excellent opportunity to be part of a well-planned sustainable community that may not happen again."
</blockquote>

<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/siteb_th1-th3_cam001.jpg" rel="gallery-all" title="Stage 2 of SALT Townhomes has hit the market after the sell-out success of Stage 1."><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/siteb_th1-th3_cam001.jpg?itok=HsWCKzug" title="Stage 2 of SALT Townhomes has hit the market after the sell-out success of Stage 1." width="580"></a>

<figcaption>Stage 2 of SALT Townhomes has hit the market after the sell-out success of Stage 1.</figcaption></figure><a href="/buildings/salt-townhomes-85-grossmans-road-torquay">To learn more about Salt Townhomes, visit the Urban listing.</a>
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Salt Townhomes Torquay prove to be popular among locals and first home buyers with off-the-plan sales success

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The Westpac economist Matthew Hassan has noted the broad-based strengthening in the November property prices as recorded by CoreLogic.
"Notably the reopening in Melbourne has finally seen prices turn in the one major market still recording declines a month ago – the 0.7% mth gain surprisingly firm given turnover was still low."
Melbourne's 0.7% gain was across all segments and building types although prices have generally been firmer for lower priced parts of the market.
Despite an apparent large overhang of stock in the inner city, unit prices also posted a solid rise in the month – Hassan adding "perhaps a caution that some of the gain may be running off expectations rather than conditions on the ground."
Hassan noted other markets consolidated on previous gains with Adelaide and Perth, the smaller capital cities and regional areas leading the way.
Turnover nationally largely consolidated on its Q3 'pop', he added.
The detail continues to show stark differences, activity in Melbourne only just moving off the extreme lows seen during lockdown but activity across other capital city markets still holding well above pre-COVID levels (and well above new listings suggesting these markets are likely to be very tight in coming months).
Sydney recorded a 0.4% gain to be up 0.3% on a three month basis.
Units remain a notable weak spot, with prices in this segment down 0.7% in the November month and 1.8% on a 3month basis, declines accelerating slightly, particularly at the top end of the market. 
He added Sydney houses at the lower end of the market have seen the most promising gains.
Prices rose 0.6% in Brisbane, 1.3% in Adelaide, and 1.1% in Perth.
The smaller capital city markets also recorded strong gains – Hobart up 1.4% and both Canberra and Darwin up 1.9%.
"All of these cities except Perth now have prices above their pre-COVID peaks."
Hassan concluded by noting "the housing market is now moving clear of COVID disruptions with recoveries at different stages across different jurisdictions but gaining momentum everywhere."
"While there will still be some weak areas, particularly in the Sydney and Melbourne unit markets, the resurgence in activity, the associated lift in market sentiment and more promising outlook for a vaccine remedy to emerge next year suggests broader momentum will remain well supported in 2021."
Wespatc have recently marked up our price forecasts with a 4% gain now expected in 2021 and a 10% rise in 2022, essentially bringing forward our forecast for a 15% surge that was previously expected to begin in mid-2021.
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j.ballantyne1990-6AQqhLzZaK

Melbourne's surprisingly firm price growth given low November turnover: Westpac

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Aster Apartments is the final residential release within Cedar Woods' new up-and-coming community, Jackson Green, in Melbourne's Clayton South. Recently we were invited to take a tour of the display suite to get an idea of the brand new collection of residences now available for sale. 

Check out our video tour:

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/ADWvST3VQqU" width="660"></iframe>

<h2>ASTER APARTMENTS AT A GLANCE</h2>

Developer: <a href="/developers/cedar-woods">Cedar Woods</a>

Architect: <a href="/architects/dko-architecture">DKO Architecture</a>

Location: 456 Haughton Road, Clayton South VIC 3169

Number of residences: 128

<a href="/buildings/aster-apartments-456-haughton-road-clayton-south"><img alt="" height="3627" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/aster-apartments-456-haughton-road-clayton-south-0d09267e815a36f566112b3c395277a9.jpg" width="7606"></a>

Since Aster will be the final development to join the community, we anticipate this collection of apartments to be in high demand. From the engineered timber flooring to the opulent floor-to-ceiling glazing, no expense has been spared to deliver a collection of homes the Cedar Woods team can be proud of. 

The kitchens feature integrated stainless steel appliances and minimalist storage, with recessed LED lighting to illuminate the gas cooktop. The island benches include large sinks with modern chrome tapware and overhead cupboards provide a practical storage solution. Each bathroom includes an ultra-modern fully tiled walk-in shower, with brushed stainless tapware and dual showerheads. 

The design palette is customisable, with future-focused timeless materials giving you the ultimate low maintenance lifestyle.

Open plan living areas flow seamlessly to the private courtyards and balconies, giving you the perfect space to dine and relax throughout the year, enjoying Melbourne's fantastic climate. 

<a href="/buildings/aster-apartments-456-haughton-road-clayton-south"><img alt="" height="5651" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/aster-apartments-456-haughton-road-clayton-south-87097eb153e449c96ad729d990995777.jpg" width="5400"></a>

Aster apartments are minutes from Clayton and Monash, and just a short drive you'll find Australia's leading shopping precinct, Chadstone Shopping Centre and Melbourne CBD. 

To speak with an agent about the Aster Apartments available for sale, <a href="/buildings/aster-apartments-456-haughton-road-clayton-south">request a call via Urban today</a>, but be in quick as this is the final release of properties at Jackson Green. 
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Urban's tour of the Aster Apartments display suite

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EXPERT OBSERVER
Victoria’s virus flare up and subsequent lockdown has hit the south-eastern state’s economy hard. The implementation of level 4 restrictions in Melbourne and level 3 constraints in regional Victoria – including curfews – led to the shutdown of 90 per cent of Victoria’s shopping centres and retail stores in August, according to Kepler Analytics. So it’s no surprise that retail spending in Victoria fell by whopping 12.6 per cent in the month. According to Commonwealth Bank card spending data, Victorian credit and debit card spending plunged by 14.8 per cent in the week to August 14 from a year ago after being down just 0.8 per cent in the prior week.
The damage to Victorian businesses and workers from the two COVID-19 lockdowns is evident in the latest Statistical Area 4 (SA4) weekly payroll jobs data. Since March 14 (the week Australia recorded its 100th confirmed COVID-19 case) payroll jobs have decreased most in Melbourne’s Inner (-9.8 per cent), North-Western (-9.3 per cent) and Western (-8.7 per cent) suburbs. And regional Victoria hasn’t been spared with payrolls down 8.8 per cent in North-Western Victoria and the Mornington Peninsula (-8.5 per cent). Job losses also exceed 7 per cent across Geelong, Ballarat, Bendigo and Latrobe-Gippsland.
Victoria’s labour market scarring is likely to persist in the near term with skilled job vacancies falling 7.5 per cent in August – the only state or territory to post a decline in ads during the month. In Greater Melbourne job vacancies are down 44.6 per cent over the year to August.
Australia’s manufacturers have weathered the coronavirus shock better than most sectors of the economy. Despite manufacturing’s share of Aussie economic output declining from peaks of just under 30 per cent of GDP in the early 1960s to 5.6 per cent of GDP in 2019, its importance has been underlined by global supply disruptions (freight delays and import restrictions) during the pandemic.
Australia is making more hi-tech manufactured goods than ever before, including the manufacture of food, wine, beverages, vitamins, baby formula, building materials, mining machinery and medical equipment. In fact, the latest survey of purchasing managers shows that manufacturing activity rose to the highest level in 29 months in September, supported by a pick-up in production, sales, export orders and building capacity pressures.
Importantly, IHS Markit report that manufacturers employed more factory workers for the first time since November 2019. This is good news given that manufacturing is Australia’s sixth largest employer, employing around 852,800 (or 7 per cent of the total workforce).
What do the figures show?
‘Preliminary’ retail trade – August
‘Preliminary’ retail trade fell by 4.2 per cent in August after rising by 3.2 per cent in July. Retail spending is still up 6.9 per cent on the year and 6 per cent above pre-COVID-19 levels in February. The final August data is scheduled for October 2.
According to the ABS, “Victoria led the falls, down 12.6 per cent compared to July 2020. Stage-4 restrictions in Melbourne, and Stage-3 restrictions in Regional Victoria, restricted trading for non-essential retail businesses.
“Excluding Victoria, the rest of Australia fell 1.5 per cent from July 2020 to August 2020.
All industries fell, primarily driven by the Victorian result, although there were falls in most states and territories.
At the industry level, Household goods retailing led the falls, although sales in this industry remain 20 per cent above the levels of August 2019.
Clothing, footwear and personal accessory retailing, Department stores, and Cafes, restaurants and takeaway food services, also saw large monthly falls, with the largest falls recorded in Victoria. New South Wales saw a large fall in Cafes, restaurants and takeaway food services.
Food retailing saw a small fall, with mixed results amongst the states and territories.”
Regional payrolls – Week ending September 5
The Australian Bureau of Statistics (ABS) has released the regional (SA4) payroll indexes.
Between March 14 (date of 100th case of COVID-19) and September 5, payrolls fell most in Melbourne - Inner (-9.8 per cent). Thirteen of the 15 regions with the biggest declines in payrolls can be found in Victoria. Sydney’s City and Inner South also feature with payrolls down 8.3 per cent for the period.
Of the 15 regions with the smallest declines in payrolls over the period, seven can be found in Western Australia. Perth’s South-West recorded just a 1 per cent fall in payrolls from March 14 to September 5. But the New England and North-West region of NSW performed best with payrolls down just 0.9 per cent over the period.
Skilled job vacancies – August
In seasonally adjusted terms, the Internet Vacancy Index (IVI) increased by 1.3 per cent (or 1,700 job advertisements) in August to stand at 133,400. Despite this increase, job advertisements are 19.5 per cent (or 32,400 advertisements) below the level recorded a year ago.
In August, job advertisements increased in three of the eight occupational groups. The strongest gains were recorded for Professionals (up 2,300 or 5.8 per cent), followed by Clerical and Administrative Workers (up 350 or 1.9 per cent); and Managers (up 120 or 0.9 per cent). But ads fell most for Labourers (down 420 or 4.1 per cent).
Over the year to August, job vacancies for Machinery Operators and Drivers (up 480 or 6.5 per cent) and Labourers (up 180 or 1.9 per cent) lifted most and now exceed pre COVID-19 levels. But vacancies fell for the other six occupational groups, led by declines for Managers (down 7,300 or 34.4 per cent) and Clerical and Administrative Workers (down 8,700 or 31.4 per cent).
All states and both territories recorded an increase in job advertisements in August, except Victoria. NSW (up 2.4 per cent); Victoria (down 7.5 per cent); Queensland (up 0.4 per cent); South Australia (up 7.4 per cent); Western Australia (up 8.7 per cent); Tasmania (up 8.1 per cent); Northern Territory (up 6.8 per cent); ACT (up 8.3 per cent).
Over the year to August, job ads increased in Western Australia (up 1,700 or 10.6 per cent), South Australia (up 760 or 10.2 per cent) and Tasmania (up 30 or 1.9 per cent). All remaining states and both territories recorded falls in job advertisements over the year with the biggest falls in Victoria (down 21,200 or 45.7 per cent) and NSW (down 11,500 or 20 per cent).
Over the year to August, in three-month moving average terms, job ads increased in 20 of the 37 IVI regions. Dubbo &amp; Western NSW posted the strongest increase in vacancies (up 50.7 per cent), followed by Southern Highlands &amp; Snowy NSW (up 34.6 per cent), South-West Western Australia (up 32.5 per cent), Yorke Peninsula &amp; Clare Valley South Australia (up 26 per cent) and Fleurieu Peninsula &amp; Murray Mallee South Australia (up 24.2 per cent). But Melbourne recorded the biggest decline (down 44.6 per cent), followed by Sydney (down 38.4 per cent), Geelong &amp; Surf Coast Victoria (down 32.0 per cent), Ballarat &amp; Central Highlands Victoria (down 23.4 per cent) and Brisbane (down 20.7 per cent).
‘Flash’ IHS Markit Purchasing Managers’ Indexes (PMI) - September
The IHS Markit ‘flash’ PMI for manufacturing rose from 53.6 in August to a 29-month high of 55.5 in September. The services PMI lifted from 49 in August to 50 in September. The composite PMI rose from 49.4 in August to 50.5 in September. A reading above 50 indicates an expansion in activity.
According to IHS Markit economists, “The latest PMI data showed signs of stabilisation in Australia's private sector business conditions during September, with activity and sales increasing marginally after falling in August amid tightening containment measures to contain a surge in new infection cases. However, other survey indicators suggest that the rebound may lack legs going forward. The absence of capacity pressure led to a further and sharper decline in workforce numbers, highlighting the prospect of rising unemployment.
The survey also showed a divergence in the sectors participating in the economic recovery. Services business activity remained subdued, coinciding with weak sales as the sector was more adversely hit by COVID-19 restrictions. Meanwhile, manufacturing output continued to increase, supported by renewed growth in export sales.
Government spending on public works and expectations of an eventual easing of containment measures, including crossborder restrictions, boosted business sentiment, which rose to the highest for just over two years."
What are the implications for investors?
Yet another central bank has provided an update on its policy ‘tool kit’ – this time the Reserve Bank of New Zealand. Kiwi monetary policy makers have made it abundantly clear that they will implement negative interest rates if more stimulus is required to prop up the economy after Auckland’s virus setback.
As excitable Aussie investors reacted to Reserve Bank of Australia Deputy Governor Guy Debelle’s ‘monetary policy approaches’ speech yesterday by aggressively pricing in a rate cut to 0.1 per cent on October 6, Reserve Bank of New Zealand Governor Adrian Orr calmly reiterated that the Bank intends to hold the official cash rate at 0.25 per cent until March 2021 - as communicated on March 16. Governor Orr also suggested that instruments including a Funding for Lending Programme (FLP) and purchases of foreign assets are additional policy options, along with a negative official cash rate.
The divergence between Victoria and the rest of Australia continues. The re-opening of the NSW-South Australian border is encouraging with border closures - and associated restrictions - inhibiting the economic recovery. What is also positive is that recruitment activity in South Australia and Western Australia is now above pre-COVID-19 levels with Tasmania just 1 per cent below these levels in August. Regional areas outside of Victoria are performing better than their city peers with lower unemployment, more job vacancies and more stable housing markets.
The next few weeks are critical to the economic outlook. The Reserve Bank’s monetary policy meeting and Federal Government’s Budget are both delivered on October 6. Expectations for a co-ordinated policy response to Victoria’s health and economic crisis are growing. It appears that the Morrison Government will announce more infrastructure spending and bring forward personal income tax cuts at a time when the JobKeeper wage subsidy and JobKeeper government payments are reduced. But as yesterday’s weekly payrolls jobs data shows, a continued targeted approach in supporting small and medium sized enterprises (SMEs) is equally, if not more important. The acceleration of payroll losses (-1.9 per cent) for businesses with 20 or fewer employees between August 22 and September 5 will trouble policymakers.
Ryan Felsman is a Senior Economist at CommSec
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