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.

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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.

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Joel Robinson

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

A rare new apartment development has been proposed on the fringe of St Ives Village.

Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.

The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" />

“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.

“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”

Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.

The proposal would replace two single-storey brick buildings currently on the site.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" />

St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.

More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.

NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;

&nbsp;

&nbsp;

First look: NewQuest Property proposes new St Ives apartment development

<a href="https://www.apartments.com.au/developers/centa-property-group">Centa Property Group</a> has achieved two major milestones at its <a href="https://www.apartments.com.au/new-apartments/bilinga-house-107-golden-four-drive-bilinga-qld-4225">Bilinga House</a> apartment development in the sought-after southern Gold Coast.

They've almost sold 50 per cent of the Golden Four Drive building, while at the same time announcing the commencement of construction through reputable builder Greyburn Construction.

The boutique 10-storey building, with 47 two- and three-bedroom apartments, now has a mid-to-late 2028 completion date.

[smartcode_project:default project_id=150037 project_image_fid=5333]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed project is positioned just 200 metres from Bilinga Beach and brings a relatively rare apartment offering to a market that has seen limited new supply in recent years.

Residences have been designed to maximise natural light and ventilation, with open-plan interiors, generous glazing, and material palettes that reflect the surrounding coastal landscape.

Interiors incorporate engineered timber flooring, stone benchtops, and custom joinery, with layouts designed to adapt to both permanent living and lock-and-leave use.

[smartcode_project:default project_id=150037 project_image_fid=5336]

Rothelowman Senior Project Leader Matthew Tencate said the design approach centres on liveability and community.

“Providing curated on-site amenities and communal spaces for residents that facilitate a sense of community, liveability, and wellness,” Tencate said.

Residents will have access to a suite of private amenities including a pool, gym, sauna, and communal alfresco areas, alongside practical features such as surfboard storage and bicycle facilities.

[smartcode_project:default project_id=150037 project_image_fid=5336]

Centa Property Group Director Jason Yuen said the project has been designed to appeal to a range of buyers seeking flexibility in how they use their property.

“Bilinga House is designed for those who want the best of both worlds – a modern beachside escape with the flexibility to generate income when you're not there,” Yuen said.

[smartcode_project:default project_id=150037 project_image_fid=5338]

Bilinga remains one of the quieter pockets of the Gold Coast, sitting between the more established hubs of Coolangatta and Palm Beach. Its appeal has strengthened in recent years, supported by proximity to the Gold Coast Airport and the Oceanway coastal path.

[smartcode_project_cta:default project_id=150037]

Bilinga House apartments snapped up as Greyburn commences construction

Breaking into the Sydney property market has long felt out of reach for many first home buyers, particularly as median house prices sit above $1.6 million and unit prices push beyond $900,000.

But entry points still exist in pockets of Greater Western Sydney, where pricing, government incentives, and product mix are aligning to make ownership more attainable.

Understanding where those opportunities sit, and how the numbers actually stack up, is becoming increasingly important for buyers weighing up their next move.

<h2>Work out what you can actually afford</h2>

Sydney is expensive, but it isn’t uniformly expensive. The Greater Parramatta region continues to offer comparatively accessible entry points, particularly for buyers open to alternative configurations like studios.

There's an assumption that a first home needs to be a certain size, that anything smaller than a one-bedder is a concession rather than a choice. That assumption doesn't hold up against what well-designed studios in the right location actually offer: immediate liveability, strong urban amenity, and a price point that makes the deposit target realistic rather than theoretical.

At <a href="https://www.apartments.com.au/buildings/mason-main-merrylands-249-259-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>'s multi-award winning precinct in Merrylands, studio apartments are unlike the typical studio configuration.

Starting from $498,000, the bedroom is fully enclosed, separated from the living area by a cavity sliding door, creating a genuinely private sleeping space that functions more like a one-bedroom apartment than a traditional open-plan studio.

[smartcode_project:default project_id=31751 project_image_fid=359814]

At 42 sqm internally, with an open-plan kitchen, built-in robes, modern bathroom, and separate laundry, the apartments are designed for everyday liveability rather than short-term use.

With a five per cent deposit under the Federal Government's First Home Guarantee, that equates to a deposit of around $24,200, achievable for many first home buyers without the added cost of Lenders Mortgage Insurance.

<h2>Understand the real cost of renting versus buying</h2>

For buyers weighing up the shift from renting to owning, the numbers are closer than many expect.

Here’s how the numbers stack up for a studio at Mason &amp; Main (based on a $498,000 purchase):

<ul>
	<li>Purchase price: $498,000</li>
	<li>Five per cent deposit (First Home Guarantee): ~$24,900</li>
	<li>Loan amount: ~$473,100</li>
	<li>Estimated mortgage repayment (6.29% variable, 30-year term): ~$675–$695/week*</li>
	<li>Estimated rental return: $590–$620/week*</li>
	<li>Rental yield: 6.16% - 6.47%</li>
</ul>

At this level, the gap between renting and owning is relatively narrow, particularly when factoring in long-term equity, with rental returns also making the apartments a viable option for investors.

The rental range reflects current asking rents for remaining studio stock in the development and, based on prevailing asking prices, equates to an indicative gross rental yield of up to 6.47 per cent.

For buyers seeking more internal space, Mason &amp; Main also offers a range of one-bedroom apartments from $629,000, alongside larger one-bedroom plus multipurpose room configurations priced from $680,000 - all priced under $800,000 and eligible for first home buyer incentives.

<ul>
	<li>Purchase price: $629,000</li>
	<li>20 per cent deposit: ~$125,800 (5% deposit on exchange: $31,450)</li>
	<li>Loan amount 80%: ~$503,200</li>
	<li>Estimated mortgage repayment: ~$720–$740/week*</li>
	<li>Estimated rental return: $650–$680/week*</li>
	<li>Rental yield:&nbsp;5.37% - 5.62%</li>
</ul>

One-bedroom apartments continue to present a balanced option for both owner-occupiers and investors, supported by steady rental demand across Western Sydney.&nbsp;

[smartcode_project:default project_id=31751 project_image_fid=359812]

<h2>Make sure you're across the government incentives</h2>

Government incentives continue to play a key role in reducing the upfront cost barrier.

At Mason &amp; Main, studio, one, and two-bedroom apartments are priced under $800,000, allowing eligible buyers to access a full stamp duty exemption under the NSW First Home Buyers Assistance Scheme.

On a $498,000 purchase, that represents a saving of roughly $17,900 that would otherwise need to be paid at settlement.

Combined with the First Home Guarantee, which enables purchases with as little as a five per cent deposit, the total capital required to secure a home is significantly reduced compared to traditional lending pathways.

<h2>No waiting, no uncertainty</h2>

For first home buyers who want to move sooner rather than later, Mason &amp; Main removes one of the more common pain points from the purchase process entirely. The development is already complete and move-in ready, meaning buyers can walk through the apartments, inspect the finishes, and have full certainty about what they're purchasing before signing anything.

Coronation brought in renowned architecture firm <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> to design the development.&nbsp;

"The project's design drew inspiration from the area's rich heritage, in particular the nearby brickworks and aqueduct, infusing a contemporary perspective to seamlessly integrate historical influences into the design," Woods Bagot Principal Dom Alvaro says.

[smartcode_project:default project_id=31751 project_image_fid=736]

<h2>Factor in location and lifestyle</h2>

Beyond the apartment itself, the surrounding infrastructure matters, particularly for a first purchase. Merrylands Station sits 350 metres from the development, putting the Parramatta CBD a five-minute drive away and the Sydney CBD roughly 25 minutes via the Western Line. Directly across the road is Stockland <a href="https://www.apartments.com.au/developments/merrylands-nsw-2160">Merrylands</a>, one of Greater Western Sydney's major retail centres.

At street level, Mason &amp; Main's own retail and dining precinct has more than 30 tenants trading, including Iftar, Macelleria, Hayat, San Churro, Yuzu, and Fat Jaks. Residents also have access to a resort-style pool, a Technogym-equipped gym, private dining rooms, and a rooftop terrace with panoramic views across Parramatta, the Sydney CBD, and the Blue Mountains, all exclusive to the building.

Due to the mix of configurations, including studios which are rarely offered in today's new apartment market, first home buyers and investors have driven Mason &amp; Main to over 90 per cent sold.

Coronation Property Managing Director Joe Nahas says the development is driving a revitalisation of Merrylands, setting a high standard for future developments in the area.

Mason &amp; Main is move-in ready and is the latest in a series of award-winning mixed-use developments by Coronation Property.

Disclaimer: Mortgage repayment figures are estimates only, based on a 6.29 per cent variable rate over a 30-year term (Canstar, April 2026). Pricing and rental estimates are indicative and based on current listings and project information. Gross yield figures are indicative and derived from asking prices and estimated rental ranges. Stamp duty savings are indicative only. Buyers should seek independent financial and legal advice before proceeding.

[smartcode_project_cta:default project_id=31751]

How first home buyers can enter the Sydney property market for under $500k

Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.

In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.

Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.

Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.

At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.

[smartcode_project:default project_id=135149 project_image_fid=368392]

Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.

Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.

The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.

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“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.

“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.

Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.

SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.

“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.

“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”

Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.

That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.

One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.

“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.

“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”

For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.

“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”

Her terrace also supports a more connected, lifestyle-driven way of living.

“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”

Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.

Coronation champions terraces as a key piece of Sydney’s housing mix

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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The August RP Data CoreLogic Home Value Indices results released this month show a rise in dwelling values of 0.8% in Melbourne and a 7.6% rise this year.
A detailed review of the market shows that the most expensive segment of the market, (25% most expensive houses), recorded the highest value growth this year.
This segment of the market will be interesting to follow this spring and over summer as there is a strong correlation with the performance of the auction market.
In the first eight months values rose by 9.6% compared to 8.7% for the middle of the market, and 3.7% for the most affordable segment.
All segments of the market for houses have outperformed the unit market with the exception of the most affordable segment. Values of the most affordable 25% of the unit market have grown by 4.4% this year compared to 3.7% for houses.
A longer term view of the market, comparing its performances since the last peak in values, reveals a slightly different picture. Values for houses in the most expensive and middle segments of the market peaked in October 2010. Since that time it is the middle of this market that has seen the strongest increase in values of 9.8% compared to 7% for the most expensive segment.
Given most of the people selling will have bought their homes before 2010, it is this longer-term view that is more relevant.
There are 927 auctions scheduled this week in Melbourne compared to 975 for the same time last year. The highest number of auctions is expected in the <a href="/news">Prahran</a> where 19 are scheduled.
As the market enters spring there are fewer homes on the market than a year ago with 28,988 active listings in Melbourne and 54,619 in Victoria. 12 months ago the comparable number was 32,454 in Melbourne and 58,664 in Victoria. This is a positive sign as it highlights a more active market with more buyers.
The extent that this translates into higher prices will depend in many ways on the volume of new listings. Thankfully for buyers the number of homes being newly listed for sale is rising compared to last year.
Time on market results for houses sold at private sale fell from 47 days to 45 days over the last week whilst vendor discounting rose from -5.3% to -5.6%.
Key data
<ul>
<li>Clearance rate week ending 7 September: 73.5%</li>
<li>Melbourne auctions expected week ending 14 September: 927</li>
<li>Melbourne private sales time on market week ending 7 September: 45 days (houses)</li>
<li>Melbourne vendor discounting market week ending 7 September: -5.6% (houses)</li>
<li>Listings being prepared for market are -1.1% lower in month ending 7 September (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Melbourne's most expensive houses record largest value growth: RP Data's weekend auction preview

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A one bedroom apartment in Hawthorn has topped <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s list of Victoria's most discounted properties.
The student apartment in the Varsity complex near Swinburne University has seen its price cut by 40% to $99,000, after more than four years on the market.
Despite its 25 square metre size, it's described as "larger than most" by listing agent Nick Pane of O'Donoghues First National.
It's not the only student accommodation to make the list of Victoria's most discounted properties. Of the top 10, four are within walking distance of a university.
<a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research's</a> 10 most discounted Victorian properties: <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-106622918%20%20%20%20" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;"> </a><a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-106622918">320/1 Queens Avenue, Hawthorn, Vic</a> <img src="/images/2014/09/11/d1.jpg" alt=""> The fully furnished one bedroom apartment is currently rented out for $215 per week, representing a net yield of 7.3%. It was initially offered at $165,000 and has been on the market for 1,533 days. It comes fully furnished.  <img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;"><a href="https://www.realestate.com.au/property-apartment-vic-notting+hill-114753895" target="_blank">D26B/662 Blackburn Road, Notting Hill, Vic</a> <img src="/images/2014/09/11/d2.jpg" alt=""> Another Melbourne student apartment has made it onto this week's top 10 discounted properties list. The asking price of this one bedroom unit near Monash University has dropped by 25%, and now has an asking price of $180,000.
The fully furnished apartment, which includes a basement car park and a balcony, has been on the market for almost a year. The listing information notes that it can be rented for $1,043 per calender month, representing a yield of 6.9%. <img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;"><a href="https://www.realestate.com.au/property-townhouse-vic-docklands-107755171" target="_blank">226/9 Wharf Street Docklands, Vic</a> <img src="/images/2014/09/11/d3.jpg" alt=""> Vendors are seeking $650,000 for this Docklands townhouse, which has two bedrooms and three bathrooms. Its asking price has dropped by 24% since it was initially offered 846 days ago.
The Harbour Town unit has an open plan living area and kitchen on the lower level and two bedrooms with built in robes and en suites on the upper level. The property comes with two car spaces. <img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;"><a href="https://www.realestate.com.au/property-apartment-vic-cheltenham-116563711" target="_blank">2/3 Mackenzie Street Cheltenham, Vic</a> <img src="/images/2014/09/11/d4.jpg" alt=""> This two bedroom apartment in Melbourne's south eastern suburbs is currently advertised at $369,000, down from its initial asking price of $440,000. It's been on the market for 147 days.
The ground floor apartment is within walking distance of the nearby train station and the local shopping strip. Both bedrooms have built in robes, and the apartment comes with a car space. <img src="/images/2014/07/04/yellow-five.jpg" alt=""> <a href="https://www.realestate.com.au/property-townhouse-vic-bundoora-115922108" target="_blank">38 Waxflower Crescent Bundoora, Vic</a> <img src="/images/2014/09/11/d5.jpg" alt=""> Currently leased until January 2015, this two level Bundoora townhouse has seen a 23% price cut, from $410,000 to $315,000, after 259 days on the market.
The townhouse has two bedrooms and two bathrooms, with timber flooring throughout, and access to a courtyard and barbecue area. Its located within walking distance of RMIT's Bundoora campus.
The townhouse was purchased in 2009 for $396,500.
This article continues on the next page.
<hr class="system-pagebreak">
 
<img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;"><a href="https://www.realestate.com.au/property-apartment-vic-melbourne-110148953" target="_blank">1308/31 A'Beckett Street Melbourne, Vic</a> <img src="/images/2014/09/11/d6.jpg" alt=""> The asking price for this one bedroom, one bathroom apartment in the Melbourne CBD has dropped from $455,000 to $350,000, after 875 days on the market.
The apartment has an open plan kitchen and living area and built in robes in the bedroom. The apartment complex is one block from RMIT's main city campus and within walking distance of the University of Melbourne. <img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;"><a href="https://www.realestate.com.au/property-house-vic-taylors+hill-116555327" target="_blank">28 Jamieson Terrace Taylors Hill, Vic</a> <img src="/images/2014/09/11/d7.jpg" alt=""> Initially listed with $688,000 hopes, this Taylors Hill home now comes with an asking price between $525,000 and $560,000.
The four bedroom, two bathroom home has a television room, a rumpus room and a upstairs retreat. It is set on a 700 square metre plot, within walking distance of a school and a bus stop. The house was purchased for $342,000 in 2005. <img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">  <a href="https://www.realestate.com.au/property-house-vic-garfield-111637803" target="_blank">1110 Nar Nar Goon - Longwarry Road, Garfield Vic</a> <img src="/images/2014/09/11/d8.jpg" alt=""> This house on a 16 hectare plot has an asking price of $850,000, down 23% from its initial $1.1 million price guide. According to the listing information, the house can be rented out for $500 per week, representing a yield of 3% at the current asking price.
The four bedroom house is accompanied by 11 small paddocks, four large paddocks, a hayshed, a three bay carport, six stables, a tack room, a feed room and five horse shelters. It's been on the market for more than two and a half years. <img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;"><a href="https://www.realestate.com.au/property-apartment-vic-prahran-116613907" target="_blank">211/8 Porter Street Prahran, Vic</a>
<img src="/images/2014/09/11/d9.jpg" alt=""> A studio apartment Prahran has had a 22% price cut. Vendors are now seeking $185,000 for the apartment, after 139 days on the market. The apartment is partially furnished, with a microwave, television and study table.
It comes with access to a common room and common balcony, with city views. The listing information states that it recently returned $1,180 per calender month in rent, representing a yield of 7.6%.  <img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;"><a href="https://www.barryplant.com.au/property/84871/23-sandells-road-tecoma/" target="_blank">23 Sandells Road, Tecoma, Vic</a> <img src="/images/2014/09/11/d10.jpg" alt=""> Initially listed with a $460,000 price guide, this home now has an asking price of $360,000 after three months on the market. The two to three bedroom house on a sloping lot was once set up to house two families.
It includes a galley kitchen, two living rooms, a veranda out the front and a deck out the back. The property has remained in the same name for 34 years - it was purchased by the vendors for $22,500.
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jrichardson-uRX5hFdKfN

25 square metre "larger than most" apartment the most discounted property in Victoria: SQM

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Carrum Carrum, the 1890s villa at Longueville, has been sold reputedly for a touch over $5 million.
<a href="https://www.mcgrath.com.au/buy/house-longueville-nsw-2066/208224/?searchID=42533235" target="_blank">The 2,604 square metre holding</a> was listed for sale in 2012 for $7 million, then relisted earlier this year at $6 million-plus in February. Then on its June auction countdown there was $4.95 million plus guidance.
It last traded in 1991 for $925,000 when entrepreneur John Bradley and his wife, Patricia, bought the rundown boarding house.
The block adjoining the battle axe block was bought for $1.22 million in 2001 to reinstate the garden.
It was marketed as one of the lower north shore's finest Victorian-era mansions, having been built in 1890 for James and Alice Macken, nee Foy.
The original house, with stables for six horses and a garage, cost £4,000.
The name Carrum Carrum came from a Melbourne swamp.
The official sale price hasn't been revealed but Title Tattle gleans it was not as much as Fairlie, a grand 1896 Federation mansion sold recently for around $5.6 million through McGrath's Beth and Michael Ferguson.
Built in 1896 by surveyor and inventor Fairlie Tronson, the 2,600 square metre riverfront estate last traded in 1952 when it was bought by the late William Ryan, a senior surgeon at the Mater Hospital.
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jchancellor-FAypfDUnLy

Longueville's historic 1890s Carrum Carrum villa sold

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Real estate is often about numbers. Everything it seems, from the price of the house to the weekly rent, can be expressed as a number.
Here are five topical numbers as the market enters spring:
<ul>
<li>25,080</li>
</ul>
This is the number of units in the suburb of <a href="/news">Melbourne</a>. Melbourne has the most individual dwellings of any suburb in the city which will come as little surprise to anyone who has watched the highrise market take off in the last decade.
This is also a very large number in the context of the general density of the city. By way of contrast, the suburb with the most houses is <a href="/news">Reservoir</a> with 13,692 and when you include all the units, the number rises to 20,430, still well short of Melbourne.
<ul>
<li>871</li>
</ul>
With 871 houses sold in the last 12 months <a href="/news">Pakenham </a>has recorded the most house sales of any suburb in Melbourne.  The popularity of housing in the suburb is based on many factors, key amongst them is its relative affordability.  Based on the sales in the last year the median price was $337,500 compared $532,000 for Melbourne.
<ul>
<li>49</li>
</ul>
There are now 49 suburbs in Melbourne that have a median house value of $1 million or more. At nearly one in 10 sales across the city occurring for a sale price in the million dollar range, it is far more common than it used to be.
What has not changed is the most expensive suburb, <a href="/news">Toorak</a>, which had a median value of $2.941 million and saw 151 sales for more than a million dollars over the past year.
<ul>
<li>30</li>
</ul>
The median value of a house in Melbourne has grown by 30.4% over the past five years. Only two capital cities have exceeded that over the same time, Sydney and Darwin.
<ul>
<li>1</li>
</ul>
One is the number of suburbs in the cities west that have a median house value of more than one million dollars. Overlooking the Maribyrnong River and neighbouring the popular <a href="/news">Essendon</a>, <a href="/news">Aberfeldie</a> has a median house value of $1.04 million after a 14% rise in last year.
If you wanted to live there and can afford the price then you will probably need to wait as it is only a small suburb, 1,099 houses, and averages only one sale every 6.5 days.
Weekend auction preview
There are 765 auctions scheduled this week in Melbourne compared to 530 for the same time last year. The highest number of auctions is expected in the <a href="/news">Glen Waverly</a> with 16 scheduled this week.
Buyers are likely to face more vibrant market conditions and higher prices compared to the spring selling season last year.
The August RP Data Core Logic home value indices results released this week shows a rise in dwelling values of 0.8% in Melbourne and 7.6% rise this year.
Due to high levels of supply in the unit market, the majority of the growth occurring in the market is for houses. For houses, the index recorded a rise of 8.3% this year compared to 2.5% for units.
Time on market results for houses sold at private sale rose from 44 days to 47 days over the last week whilst vendor discounting rose from -5.2% to -5.3%.
Key data
<ul>
<li>Clearance rate week ending 31 August: 73.5%</li>
<li>Melbourne auctions expected week ending 7 September: 765</li>
<li>Melbourne private sales time on market week ending 31 August: 47 days (houses)</li>
<li>Melbourne vendor discounting market week ending 31 August: -5.3% (houses)</li>
<li>Listings being prepared for market are -1.3% lower in month ending 31 August (seasonally adjusted)</li>
</ul>
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The five numbers to know about Melbourne: RP Data's weekend auction preview

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Property Observer has delved into the latest RP Data statistics to find out where Victoria’s million dollar plus suburbs are located, based on median price data.
Here’s the list of suburbs to know (click on the suburb name to go to the suburbs data page):
$2,001,000 and over
<ul>
<li>
<a href="/news">Canterbury</a> - $2,014,000
</li>
<li>
<a href="/news">Toorak</a> - $2,616,000
</li>
</ul>
 
$1,501,000 to $2,000,000
<ul>
<li>
<a href="/news">Balwyn</a> - $1,587,000
</li>
<li>
<a href="/news">Brighton</a> - $1,640,000
</li>
<li>
<a href="/news">Deepdene</a> - $1,855,000
</li>
<li>
<a href="/news">East Melbourne</a> - $1,825,000
</li>
<li>
<a href="/news">Kew</a> - 1,690,000
</li>
<li>
<a href="/news">Malvern</a> - $1,520,000
</li>
<li>
<a href="/news">Middle Park</a> - $1,610,000
</li>
</ul>
 
$1,000,000 to $1,500,000 
<ul>
<li>
<a href="/news">Albert Park</a> - $1,353,000
</li>
<li>
<a href="/news">Alphington</a> - 1,090,000
</li>
<li>
<a href="/news">Armadale </a>- $1,410,000
</li>
<li>
<a href="/news">Ashburton</a> - $1,083,000
</li>
<li>
<a href="/news">Balwyn North</a> - $1,300,000
</li>
<li>
<a href="/news">Beaumaris</a> - 1,130,000
</li>
<li>
<a href="/news">Black Rock</a> - $1,250,000
</li>
<li>
<a href="/news">Brighton East</a> - $1,281,000
</li>
<li>
<a href="/news">Camberwell</a> - $1,400,00
</li>
<li>
<a href="/news">Caulfield</a> - $1,165,000
</li>
<li>
<a href="/news">Caulfield North</a> - $1,326,000
</li>
<li>
<a href="/news">Caulfield South</a> - $1,075,000
</li>
<li>
<a href="/news">Eaglemont</a> - $1,393,000
</li>
<li>
<a href="/news">Elsternwick</a> - $1,323,000
</li>
<li>
<a href="/news">Elwood</a> - $1,200,000
</li>
<li>
<a href="/news">Glen Huntly</a> - $1,000,000
</li>
<li>
<a href="/news">Glen Iris</a> - $1,340,000
</li>
<li>
<a href="/news">Hampton</a> - $1,284,000
</li>
<li>
<a href="/news">Hawthorn East</a> - $1,388,000
</li>
<li>
<a href="/news">Ivanhoe</a> - $1,090,000
</li>
<li>
<a href="/news">Ivanhoe East</a> - $1,323,000
</li>
<li>
<a href="/news">Kew East</a> - $1,308,000
</li>
<li>
<a href="/news">Kooyong</a> - $1,280,000
</li>
<li>
<a href="/news">Malvern East</a> - $1,190,000
</li>
<li>
<a href="/news">Mckinnon</a> - $1,075,000
</li>
<li>
<a href="/news">Mont Albert</a> - $1,428,000
</li>
<li>
<a href="/news">Ormond</a> - $1,040,000
</li>
<li>
<a href="/news">Parkville</a> - $1,348,000
</li>
<li>
<a href="/news">Portsea</a> - $1,170,000
</li>
<li>
<a href="/news">Princes Hill</a> - $1,310,000
</li>
<li>
<a href="/news">Sandringham</a> - $1,220,000
</li>
<li>
<a href="/news">South Yarra</a> - $1,000,000
</li>
<li>
<a href="/news">St Kilda West</a> - $1,113,000
</li>
<li>
<a href="/news">Surrey Hills</a> - $1,351,000
</li>
</ul>
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jduke-EHk3XBmHkn

Victoria’s million dollar suburbs: Did yours make the cut?

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Melbourne recorded the greatest quarterly lift in dwelling values of any Australian capital city, according to the August RP Data CoreLogic Hedonic Home Value Index.
Dwelling values in Melbourne were up 6.4% for the quarter to August, ahead of the 5.0% increase recorded in Sydney. However, on a monthly basis, Sydney had the greatest dwelling value increase, with a 1.8% increase recorded last month. Melbourne saw an 0.8% increase in dwelling values over August.
According to RP Data, Melbourne's median dwelling price for August was $523,750.
<img src="/images/2014/09/01/rp-data-sept-1-one.jpg" alt="">
Source: RP Data.
The city's dwelling values are now 6.9% above their previous peak, and 19.5% up from the most recent market trough. Over the past 12 months, Melbourne's homes have increased in value by 11.7%.
The median price of a house in Melbourne now sits at $570,000, while the median unit price is $460,000. House prices increased by 6.6% in the three months to August, with a 12.4% increase recorded by RP Data over the past year.
Unit price growth has been slightly more modest, with a 5.2% quarterly increase in unit values and a 6.2% rise on an annual basis.  
Despite a 10.9% increase in dwelling values across the capitals on a yearly basis, only Melbourne and Sydney the only two capital cities to record double digit price growth. According to RP Data Research director Tim Lawless, Melbourne and Sydney's housing markets are responsible for the "two tier" market conditions.
"Over the latest growth cycle we have seen Sydney dwelling values increase by 27% and Melbourne values up by 19.5%," noted Lawless.
"Sydney and Melbourne were also the strongest performing cities during the 2009/10 growth cycle. Since the beginning of 2009, we have seen values rise by a cumulative 50.1% and 46.1% respectively in Sydney and Melbourne.
"Looking at the remaining state capitals over the same time frame, the next best performer was Perth where values are now 15% higher, followed by Adelaide at 9.9%, Brisbane with 5.3% and Hobart where dwelling values are actually 1.5% lower."
He predicts that home prices are likely to continue to increase in the next quarter.
“Considering the ongoing high rate of auction clearance rates, a generally rapid rate of sale and the ongoing low interest rate environment, it’s likely that dwelling values rise even further over the next three months," said Lawless.
Rental yields are lower in Melbourne than in any other capital city, with houses offering 3.2% yields and units offering 4.2%.
Lawless notes that Sydney's gross rental yields have fallen to 3.6%.
"In Melbourne, where rental yields are even lower, we have seen gross yields fall by 32 basis points over the year to reach 3.2% gross," he said.
"With yields so low in the cities where values are seeing the largest capital gains, it is clear that investors remain very much focussed on value growth rather than yield.”
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Melbourne records strongest August 2014 quarterly growth: RP Data

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Low priced land has a lot of people talking and in Victoria there are a few blocks available on the cheap.
Land prices in Melbourne’s city-fringe housing estates <a href="/expert-insights/building/outer-melbourne-land-tracking-at-four-year-lows-oliver-hume">continue to hover at around four-year lows, according to Oliver Hume</a>.
However, how far away do you need to get from the capital to secure blocks at prices as ludicrously low as $2 per square metre?
<a target="_blank" href="">Lot 7</a>, as well as<a href="https://www.realestate.com.au/property-residential+land-vic-netherby-200831835" target="_blank"> Lot 17</a> (pictured below), on Netherby Baker Road, Netherby are both on the market for $11,500 each.
The listing notes that the land is rural residential in the <a href="/news">Netherby </a>township, “which boasts a pub” and is 20 minutes from larger town <a href="/news">Nhill</a>. It is an hour from the city of <a href="/news">Horsham</a>, and 20 minutes from Victoria’s largest recreational lake – Lake Hindmarsh.
Netherby is 405 kilometres north west of Melbourne.
They are each listed as being approximately 1,011 square metres.
This works out at approximately $11 per square metre.
<a href="https://www.realestate.com.au/property-residential+land-vic-netherby-200831107/"><img src="/images/2014/08/29/netherby%20uag%2029%20one.jpg" alt=""></a>
 
<img src="/images/2014/08/29/netherby%20uag%2029%20two.jpg" alt="">
Another 1,011 square metre block at <a href="https://www.realestate.com.au/property-residential+land-vic-kaniva-200629727" target="_blank">12 Moore Street, Kaniva</a> (pictured below) is up for sale for $13,500. It has electricity, water and sewerage adjacent to the block and faces the Native Botanical Reserve.
<a href="/news">Kaniva </a>is 415 kilometres north-west of Melbourne.
It works out at around $13 per square metre.
<img src="/images/2014/08/29/kaniva%20aug%2029%20one.jpg" alt="">
For $13,500, the 836 square metre block at <a href="https://www.realestate.com.au/property-residential+land-vic-dimboola-200937795" target="_blank">59a Anderson Street, Dimboola</a> (pictuyred below) is available for purchase.
It is noted as being ready to be built on with all services available, apart from gas.
<a href="/news">Dimboola</a>, in the Shire of Hindmarsh, is 335 kilometres north-west of Melbourne.
This works out at approximately $16 per square metre.
<img src="/images/2014/08/29/dimboola%20aug%2029%20one.jpg" alt="">
<a href="https://www.naracoortefn.com.au/buy-residential-real-estate/vacant-land-coleraine-edenhope-road-harrow-vic-14813100109" target="_blank">A block in Harrow</a>, for $14,000, on Coleraine-Edenhope Road (pictured below) was up for sale noting that power was passing by the block.
At 6,457 square metres, the block estimates out at about $2 per square metre.
<a href="/news">Harrow</a> is 390 kilometres north west of Melbourne.
<img src="/images/2014/08/29/harrow%20aug%2029%20one.jpg" alt="">
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Can you really buy land in Victoria for $2 per square metre?

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It’s often said that those looking for lower priced entry points into the market should consider purchasing units.
However, it isn’t always a cheap approach. Here are the suburbs where median prices tip above $700,000 for units, according to RP Data.
<ol>
<li>
<a href="/news">BRIGHTON</a> $810,000 
</li>
<li>
<a href="/news">BEAUMARIS</a> $765,000 
</li>
<li>
<a href="/news">TOORAK</a> $753,000 
</li>
<li>
<a href="/news">MONT ALBERT NORTH</a> $738,000 
</li>
<li>
<a href="/news">BALWYN NORTH</a> $713,000 
</li>
<li>
<a href="/news">PORT MELBOURNE</a> $711,000 
</li>
<li>
<a href="/news">ALBERT PARK</a> $706,000
</li>
</ol>
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Melbourne's seven most expensive suburbs for units

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The suburbs with the highest proportion of owner occupiers differ in value and tend to have one thing in common – they are well established and in contrast to those proving popular for investors.
Last week’s post revealed that many of <a href="/news/vic/the-melbourne-suburbs-investors-are-most-active-in">the most popular suburbs for investors</a> were those that are more recently developed.
In the inner city the suburbs within a 10 kilometres of the CBD such as <a href="/news">Aberfeldie</a>, has the highest proportion of houses with 90% of these owner occupied. Aberfeldie recently became the first million dollar suburb in the city’s west. <a href="/news">Strathmore </a>ranked second with owner occupiers accounting for 88.6% of houses. The top five is rounded out by <a href="/news">Kew East</a>, <a href="/news">Ivanhoe </a>and <a href="/news">Malvern</a>.
In the middle ring of suburbs, those between 10 and 20 kilometres of the CBD, there is greater disparity in the prices of suburbs popular with owner occupiers.<a href="/news"> Eltham North</a> recorded 94.3% of houses as being owned by their occupiers and second on the list, <a href="/news">Campbellfield</a>, had 91.4%. Campbellfield is much more affordable with a median house value of $334,601 compared to $646,869 in Eltham North.
Finally, in the outer suburbs the highest proportion of owner occupiers at 95.2% can be found in <a href="/news">Montrose</a>. Four of the top five suburbs are in fact are in or near-to the Dandenongs. Second on the list, <a href="/news">Mount Evelyn</a>, has 94.1% of houses owned by their occupiers and <a href="/news">Warranwood </a>has 93.8%. Fifth on the list, <a href="/news">The Basin</a>, recorded 93.7%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/RankedByProportionOfOwnerOccupiers-rpdata.jpg" rel="wp-prettyPhoto[g3656]"><img class="aligncenter size-large wp-image-3657" src="https://blog.rpdata.com/wp-content/uploads/2014/08/RankedByProportionOfOwnerOccupiers-rpdata-580x432.jpg" alt="Melbourne suburbs ranked by proportion of owner occupiers | RP Data" width="580" height="432"></a>
There are 809 auctions scheduled this week in Melbourne compared to 837 for the same time last year. The highest number of auctions are expected in the <a href="/news">South Yarra</a> with 21 expected.
The auction market is gathering strength with an average clearance rate of 70.6% over the past four weeks.
This is the last week before spring officially starts and the latest research from RP Data shows that there have been, including last week, 26.7% more homes sold at auction than the same time last year.
Importantly there have been almost as many extra sales with 24.7% more sales at auction in Melbourne.
At this stage conditions are well balanced between buyers and sellers across the market.
Time on market results for houses sold at private sale was stable at 44 days over the last week whilst vendor discounting rose from -5.1% to -5.2%.
Key data
<ul>
<li>Clearance rate week ending 31 August: 70.7%</li>
<li>Melbourne auctions expected week ending 31 August: 809</li>
<li>Melbourne private sales time on market week ending 24 August: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 24 August: -5.2% (houses)</li>
<li>Listings being prepared for market are -0.2% lower in month ending 24 August (seasonally adjusted)</li>
</ul>
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Melbourne's most popular owner occupier suburbs: RP Data's weekend auction preview

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Victoria’s construction boom comes as no surprise to anyone who has seen the increase in highrises and cranes on the skyline over the past few years.
This week Planning Minister Matthew Guy said that it shows no signs of abating.
Notably, <a href="/news/construction-work-falls-in-june-quarter-abs">construction work did fall slightly over the June quarter, according to the Australian Bureau of Statistics</a>, although remains up 3.2% over the past year.
Here are 10 quotes from Guy, reverse chronologically, in regards to changes in Melbourne.
<ol>
<li>“Victoria’s land supply program has been the most successful of any state, releasing 95,000 housing lots in metropolitan Melbourne alone. The strong competition between developers has dropped the median lot price from $225,000 in 2010 to around $191,000 now.” (August 2014) 
</li>
<li>“The last thing we need in Victoria is a housing shortage like the one Sydney is experiencing… Whether planning for land supply in suburban growth areas, for urban renewal precincts or for central city high rise apartments, we need to keep building enough homes to keep the market affordable.” (<a href="/expert-insights/buying/central-melbourne-sees-1-000-apartments-approved-to-avoid-sydney-like-housing-shortage">June 2014</a>) 
</li>
<li>“This [Plan Melbourne 2050] is a comprehensive plan for Melbourne that caters for a projected population of 7.7 million people by 2051 and provides a solid foundation to meet these challenges.” (<a href="/expert-insights/building/the-16-suburbs-to-benefit-most-from-plan-melbourne-2050">May 2014</a>) 
</li>
<li>"The Victorian Coalition government will not allow public accessed beaches to be built  on, where the land is technically held in private ownership … With this change, any permit application to use or develop land within this zone will require consent. This is wide-ranging and includes fences, signs, outdoor furniture, shade sails, flag-poles, sheds, pergolas, verandahs and decks. Until today’s reforms, building these structures on private land in this zone did not require a planning permit.” (<a href="/expert-insights/building/private-land-owners-near-victoria-s-beaches-to-lose-ability-to-develop-as-of-right">April 2014</a>) 
</li>
<li>“It’s clear that there is plenty of land for future development and plans to maintain supply. It is critical that we continue to identify land to drive industry, jobs and housing growth in regional centres. Melbourne is certainly in an enviable position because we have large tracts of land marked for urban renewal and new suburbs. We also have the largest amount of industrial land of all capital cities in the country.” (<a href="/news/vic/supply-to-continue-increasing-in-melbourne-minister-for-planning">January 2014</a>) 
</li>
<li>“Melbourne is proud to be developing some of the most innovative and advanced skyscraper designs in the world. While other skinny buildings are called ‘pencil towers’, this building displays a slender, twisting flower stem design. 54 Clarke Street has strong architectural features to ensure it embodies a slender, sophisticated style all the way from a 'webbed' foundation at ground level.” (<a href="/news/guy-approves-melbournes-most-skinny-tower-for-southbank">December 2013</a>) 
</li>
<li>“Southbank’s appeal for new residents is significant, as this ‘urban village’ is within our vibrant arts precinct and has immediate access to the Melbourne CBD, employment, public transport, the Yarra River, parks and gardens and other services … It also helps meet anticipated high population growth in the area, while also boosting livability for residents.” (<a href="/news/matthew-guy-approves-120-million-residential-tower-for-southbank">October 2013</a>) 
</li>
<li>“The Fishermans Bend project will set the standard for urban renewal  across Melbourne and Australia over the next three decades, bringing  thousands of new residents to areas close to jobs, transport and  Australia’s greatest cultural heart.” (<a href="/news/vic/urban-renewal-project-a-game-changer-for-melbourne-cbd">September 2013</a>) 
</li>
<li>"Melbourne’s skyline will take a dramatic turn upward following the Victorian Coalition Government's approval of the Australia 108 tower.” (<a href="/news/vic/two-more-melbourne-high-rise-towers-seek-matthew-guys-tick-of-approval">April 2013</a>) 
</li>
<li>“We have an ageing population, those heading towards retirement have reduced wealth, and housing stress is a chronic problem for about 10% of households… Almost all of the city’s most affordable housing is in the outer suburbs with the inner suburbs out of reach to many renters and all but the wealthiest first-home buyers.” (<a href="/news/vic/matthew-guys-nine-step-plan-to-addressing-housing-affordability-in-melbourne">October 2012</a>)</li>
</ol>
</body></html>

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