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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What drives investment activity in one suburb over another? Is it pursuit of a high yield or is it a desire for good capital gains?
These are often debated topics and interestingly the data suggests there is not one clear-cut answer.
For instance, a review of the proportion of houses owned by investors in the inner, middle and outer suburbs shows a high level of investment in suburbs with low and high yields.
In the inner city, those suburbs within a 10 kilometre radius of the CBD is where the highest level of investors can be found in <a href="/news">Carlton North</a>, followed by <a href="/news">North Melbourne</a> and <a href="/news">Richmond</a>. Carlton North has a historically high level of appreciation and low yield whereas Richmond has a very low appreciation and higher yield.
In the middle suburbs, those between 10 and 20 kilometres from the CBD, the investor activity is highest in growth suburbs with new housing – <a href="/news">Laverton</a>, <a href="/news">Derrimut </a>and <a href="/news">Deer Park</a>. These suburbs have good yield according to the research but lower capital gains prospects given the high level of supply. Conversely, an established suburb such as <a href="/news">Clayton</a> has a high level of investors and very low yield, presumably because the market is purpose-built around students.
Finally, in the outer suburbs the investment activity is again concentrated in growth suburbs which are seeing a high rate of new home construction. For example <a href="/news">Point Cook</a>, <a href="/news">Tarneit</a> and <a href="/news">Truganina</a>.
The research suggests that there is more to the decisions of investors than suburb level analysis of yield and historical capital gains. Issues such as the level of supply is important, some suburbs are popular simply because they provide affordable stock for investors. Others are popular because investors are capitalising on a local factor, such as a university.
Possibly what’s more important is that investment decisions are also made after consideration of the actual house and its relative location and price.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/2014-08-20-robert-larocca-blog-img.jpg" rel="wp-prettyPhoto[g3616]" style="line-height: 1.3em;"><img class="aligncenter size-large wp-image-3618" src="https://blog.rpdata.com/wp-content/uploads/2014/08/2014-08-20-robert-larocca-blog-img-580x492.jpg" alt="Investor activity by distance from CBD | Robert Larocca RP Data" width="580" height="492"></a>
Source: RP Data
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The Melbourne suburbs investors are most active in

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The owners of Melbourne’s Total House, AXF Group, are challenging the building's heritage listing with the intention of demolishing the building to make way for a new 70 storey hotel and apartment tower.
In May, Heritage Victoria gave the site at 170-190 Russell Street, its heritage listing, declaring it of cultural heritage significance for the state. The committee noted that it “is a notable, highly intact, distinctive and early example of Brutalist architecture in Victoria”.
AFX Group argue that as the property was not previously included in the Melbourne Planning Scheme Heritage Overlay that it was not considered of local, let alone state, significance. However, the nominators argued that the omission was an administrative error.
Currently, there is a campaign to protect the building from Melbourne Heritage Action, who worked to put Total House, currently a car park, on the heritage register after hearing it had been purchased by a developer in 2012.
Photo courtesy of the State Library of Victoria, via <a href="https://melbourneheritage.org.au/2014/05/04/total-house-succesfully-nominated-to-heritage-register/" target="_blank">Melbourne Heritage Action</a>.
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jduke-EHk3XBmHkn

Developer challenges Melbourne car park’s heritage listing

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Around one in 10 of all residential home sales in Melbourne transact for more than $1 million and most are concentrated in the inner east and south-east.
Such is the concentration that it is very hard to find a suburb with a median house price of under $1 million along the length of Burke Road.
That is of course no surprise to anyone who follows the local market.
More surprising is the suburbs with million dollar sales in the outer suburbs. For this exercise ‘outer’ includes those suburbs that are 20 kilometres or more from the CBD.
In those areas, the outer suburban million dollar market is most concentrated in the Mornington Peninsula and in the Kingston council area.
A common theme in these suburbs is the proximity to the bay and its associated recreational options.
The highest prevalence was in <a href="/news">Mount Eliza</a> where 83 homes have sold for over $1 million in the past year, 10 of which were sold for more than $2 million. <a href="/news">Mount Martha</a>, which shares many of the same attractions recorded 48 sales at or in excess of $1 million, almost one a week. The median sale price in Mount Eliza was $775,000 and in Mount Martha it was $620,000.
As you travel further south there are a range of other suburbs that recorded more than 10 sales above the $1 million mark including <a href="/news">Sorrento</a>, <a href="/news">Mornington</a>, <a href="/news">Safety Beach</a>, <a href="/news">Rye </a>and <a href="/news">Blairgowrie</a>. Obviously like Mount Eliza and Mount Martha the majority of homes in all of these suburbs sell for well under a million dollars so the data shows that, due to the location within the suburb, a different group of buyers is active.
Clearly you can’t fully judge a suburb by its median sale price.
This is also the case in the City of Kingston, in <a href="/news">Mentone</a>, <a href="/news">Parkdale</a>, <a href="/news">Patterson Lakes</a> and <a href="/news">Mordialloc </a>where between 24 and nine $1 million sales occurred in the last year. With the exception of Patterson Lakes these sales will mostly be in the section of these suburbs between the Nepean Highway and Port Phillip Bay.
The positive impact of the bay on property values extends to Frankston as well where 13 sales in excess of $1 million were recorded in <a href="/news">Frankston South</a> and eight in <a href="/news">Frankston</a>.
Other areas that saw these sales at the very top end of the market were <a href="/news">Eltham</a>, <a href="/news">Mitcham </a>and <a href="/news">Vermont</a>.
There are 658 auctions scheduled this week in Melbourne compared to 668 for the same time last year.
The growth in the volume of homes being listed for sale in Melbourne has slowed following a strong first half of the year.
A range of data available which highlights the moderate, but not strong, nature of the Melbourne market. The most recent of this is the settled sales so far for this year. It shows transactions have only risen by 5% compared to 2013 and remain 18% below the peak of 2007. On current numbers the total number of residential sales in Melbourne is projected to be between 85,000 and 87,000 compared to 82,495 last year and 72,757 in 2012. Remarkably the proportion of homes sold at auction is 35% higher than last year.
Time of market results for houses sold at private sale contracted from 46 days to 43 days over the last week whilst vendor discounting rose from -5.1% to -5.3%. This reflected a largely stable market for houses at private sale.
Key data
<ul>
<li>Clearance rate week ending 10 August: 69.6%</li>
<li>Melbourne auctions expected week ending 17 August: 658</li>
<li>Melbourne private sales time on market week ending 10 August: 43 days (houses)</li>
<li>Melbourne vendor discounting market week ending 10 August: -5.3% (houses)</li>
<li>Listings being prepared for market are 2.7% higher in month ending 10 August (seasonally adjusted)</li>
</ul>
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You can’t always judge a suburb by its median sale price: RP Data's Melbourne auction preview

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Yield-chasing isn’t quite as popular pastime for those buying in Victoria as for those buying apartments in other states and territories.
With just 15 results above 6% gross rental yield, according to RP Data, it’s unsurprising that the majority of investors are after capital growth. Of course, not every property is made equal and astute buyers may be able to achieve strong yields even in suburbs whose headlining figure does not suggest this, and so Property Observer trawled the list of Victorian suburbs to bring you the suburbs that actually are the highest yielding.
Here are the 15 highest yielding Victorian suburbs for apartment buyers.
<ol>
<li>
<a href="/news">HAMILTON </a>Median price: $85,000 Gross rental yield: 13.46% Our only contender with a double-figure gross rental yield, the data-range may be limited. An ‘N/A’ result was provided for the area’s five and three year growth, though it notes 0.27% average annual growth. Also the cheapest suburb on the list, the apartments in the area’s median advertised weekly rent sits at $220. 
</li>
<li>
<a href="/news">CRANBOURNE WEST </a>Median price: $203,000 Gross rental yield: 7.94% 
</li>
<li>
<a href="/news">ALFREDTON </a>Median price: $175,000 Gross rental yield: 7.43% 
</li>
<li>
<a href="/news">INVERLOCH </a>Median price: $295,000 Gross rental yield: 6.87% 
</li>
<li>
<a href="/news">MILDURA </a>Median price: $155,000 Gross rental yield: 6.54% 
</li>
<li>
<a href="/news">HORSHAM </a>Median price: $185,000 Gross rental yield: 6.46% 
</li>
<li>
<a href="/news">MELTON </a>Median price: $210,000 Gross rental yield: 6.38% We have previously spotlighted Melton in a suburb profile. You can <a href="/expert-insights/buying/suburb-spotlight-melton-council-gearing-up-for-growth">read more about this west of Melbourne area here</a>.  
</li>
<li>
<a href="/news">WHITTINGTON </a>Median price: $189,000 Gross rental yield: 6.33% 
</li>
<li>
<a href="/news">MOOROOPNA </a>Median price: $168,000 Gross rental yield: 6.27% 
</li>
<li>
<a href="/news">SWAN HILL </a>Median price: $180,000 Gross rental yield: 6.21% 
</li>
<li>
<a href="/news">SPRING GULLY </a>Median price: $223,000 Gross rental yield: 6.19% 
</li>
<li>
<a href="/news">REDAN </a>Median price: $185,000 Gross rental yield: 6.18% 
</li>
<li>
<a href="/news">WEST WODONGA </a>Median price: $188,000 Gross rental yield: 6.09% 
</li>
<li>
<a href="/news">WODONGA </a>Median price: $185,000 Gross rental yield: 6.04% We have previously also written about Wodonga, and its prospects for growth. The <a href="/expert-insights/buying/suburb-spotlight-will-wodongas-big-spend-pay-off">council is spending big... but will it pay off? </a>
</li>
<li>
<a href="/news">ARARAT </a>Median price: $172,000 Gross rental yield: 6.04%
</li>
</ol>
BONUS SUBURB: <a href="/news">BROADMEADOWS</a> Median price: $273,000 Gross rental yield: 5.95%
In 2013, Broadmeadows was <a href="/news/vic/broadmeadows-among-the-top-mortgage-delinquent-locations-standard-poors">named one of the top mortgage delinquint locations</a> by ratings agency Standard &amp; Poor's.
Which state or territory would you like to know the top yielding locations for?
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The 15 highest yielding Victorian suburbs for apartments

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Folkestone has entered joint ventures with ID_Land to develop two new residential communities in Melbourne’s suburbs.
The listed real estate funds manager and developer acquired a call option over eight hectares of land in south-east Melbourne in a 50-50 joint venture with ID_Land, a developer that specialises in land subdivision and medium density projects.
The purchase was made on deferred terms and development planning will start immediately.
The land is diagonally opposite the 236 lot Potters Grove residential sub-division at Officer in Melbourne’s south-east growth corridor. Folkestone is developing Potters Grove in a 50-50 joint venture with ID_Land. Around 69% of that estate has settled or is under contract.
The new subdivision at <a href="/news">Officer</a> is expected to have an end value of around $30 million.
Folkestone also announced last week that a newly established Folkestone fund will work in partnership with ID_Land on a project in Melbourne’s western growth corridor.
The Folkestone Truganina Development Fund acquired an 80% interest in a 52.5 hectare residential master planned community in Truganina, 20 kilometres west of Melbourne’s CBD for $18.25 million.
ID_Land holds the remaining 20% of the land and will manage the project’s delivery.
The development will include 680 residential lots and a 3.1 hectare town centre.
A masterplan for the site, which sets out the layout of roads, housing, employment, infrastructure and amenities, is awaiting approval by the Metropolitan Planning Authority and the Victorian Minister for Planning.
The fund will seek investors after the masterplan’s approval. Folkestone will retain 20% of the fund.
This is the company’s third development fund and its first residential land subdivision development fund. 
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Folkestone joins forces with developer for two residential communities in Melbourne's south-east

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Real estate agents cannot conduct open for inspections in a rental property without the consent of the tenant, a new Victorian Civil and Administrative Tribunal (VCAT) order has confirmed.
The decision was made after an unnamed tenant did not consent to open for inspections of their rental home being sold for fear of security and privacy.
VCAT has confirmed the view held by the Tenants Union of Victoria (TUV) that tenants being forced to endure open for inspections is not legal under the requirement for tenants to have ‘quiet enjoyment’ of their rental home, explained TUV’s policy and liaison officer James Bennett.
“Having dozens of strangers looking through your home without your consent can be a massive infringement of privacy, security and quiet enjoyment,” he said.
“VCAT has clarified that only genuine prospective buyers can be shown a property by appointment – not just anyone who is wandering past and wants to stickybeak, check for valuables or assess the security system.”
Bennett noted that the decision does not prevent rentals from being marketed, inspected and sold, simply clarifies tenants’ rights.
Inspections by appointment are still allowed.
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VCAT orders agents not to conduct opens without tenant consent

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Grocon is selling two of three remaining landholdings in the Melbourne CBD’s former CUB site, expecting $60 million plus for the 6,600 square metre in total offerings.
Forming part of the Swanston Square development, between Queensbridge and Bouverie Streets, they’re about to enter an Expressions of Interest campaign to be offered internationally next week by CBRE Melbourne City Sales’ Mark Wizel, Josh Rutman and Tom Tuxworth.
On the former brewery site includes two residential developments, with 800 apartments under construction.
Grocon’s chief executive Carolyn Viney said that they have decided to test the market with a sale campaign, due to the potential for both of the sites for high density development.
“Recent site sales in and around the Melbourne CBD have achieved strong values and these landholdings have the benefit of being strategically located between RMIT and Melbourne University, as well as in close proximity to the attractions of the CBD and Carlton,” said Viney.
“We have another five development projects underway in various stages of delivery in Melbourne, as well as the $1.1bn Victorian Comprehensive Cancer Centre in Parkville, so we're well represented in the Melbourne market,” she said.
The land is in two titles, and can be offered individually, with interest expected from offshore and local groups. The Expressions of Interest campaign for the sites will close in mid- to late-September 2014.
Wizel said that interest is coming from Malaysian, Singaporean and mainland Chinese developers for Melbourne sites like this.
“These groups recognise the strong sustained performance of the Melbourne residential market and interestingly in recent times it has been groups that have already built in Melbourne that are being more aggressive than those first time groups looking to break into the market,” Wizel said.
“Since mid-2011, Asian developers have acquired circa $1.8 billion in Melbourne sites and there is no sign of any slowing in interest. More recently we have seen the emergence of new groups such as Hiap Hoe, UEM, ICD, Aspial and Fragrance Group, who have all secured land holdings for both immediate and medium term development.”
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Grocon wants $60 million plus for former CUB brewery, Melbourne landholdings

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The much-offered, much altered 420 Spencer Street residential development project site, on the western gateway to Melbourne’s CBD, has been relisted for sale.
The West Melbourne offering now comes with approval for a 438 unit, 38 level tower designed by Fender Katsalidis Mirams.
<img src="/images/2014/07/30/west-melbourne-july-30-one.jpg" alt="">
It was one of the development sites given approval for tall residential towers by Planning Minister Matthew Guy in the so-called "Super Tuesday" announcement in February.
The project incorporates the art deco facade of the existing 1930s-era building, on Dudley Street, the former showrooms for Australian Glass Manufacturers.
<a href="https://rca.colliers.com.au/property-land+development-vic-melbourne-501225147" target="_blank">Colliers International’s Matt Stagg and Daniel Wolman</a> anticipate a price of $35 million plus. Offers are due August 28.
It is a 2,250 square metre property was last in the news in 2011, when the Planning Minister, Matthew Guy, approved the tower within an area that was quickly becoming a residential development hotspot.
<img src="/images/2014/07/30/4.jpg" alt="">
Constructed in 1930 as the headquarters showroom for Australian Glass Manufacturers, 420 Spencer Street was recognised by the National Trust for its then-modern design.
Back in 2003 then planning minister Mary Delahunty approved the building's demolition, to be replaced by a 26-level Fender Katsalidis tower. That tower would have risen 83 metres, three times council-supported height, and was another not to proceed.
The site last sold at $3.15 million in 2003 when bought by a company associated with Paul McBain.
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Spencer Street, West Melbourne residential site offering with art deco facade

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An original, three-bedroom beach Anglesea shack has been sold for $1.51 million.
The property is on the ocean side of the Great Ocean Road at Anglesea.
The 46 Melba Parade property features the original, three-bedroom beach shack on a 929 square metre block.
It last sold at $235,000 in 1989.
The private sale was handled by Surf Coast Real Estate, Anglesea.
It was first listed in late 2011 with the asking price first revealed in late 2013 at $1,675,000.
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Anglesea shack sells for $1.51 million

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Victorian Planning Minister Matthew Guy has approved the rezoning of land outside Mildura, paving the way for a $174 million biomass power plant.
However, it might not mean that property prices will skyrocket in the town, which sits a six hour drive north-west of Melbourne.
Providing a rezoning approval for the multi-million dollar project, it was noted that land at <a href="/news">Carwarp</a> was given approval for the 35-megawatt power station with 18-kilometre electricity transmission line and substation.
“Transforming plant waste into a new source of power has numerous benefits for the region and our environment. Residents are likely to see lower power bills, farmers will have a new income stream and the local economy will be bolstered by new industry and jobs,” Guy said.
  “With an increasing focus on renewable energy, long-term planning for the region has identified this opportunity to expand on traditional regional industries to drive jobs and economic growth.
“As envisaged in the Loddon Mallee North Regional Growth Plan, the region is quickly becoming a centre for investment in sustainable energy production, such as solar and biofuels. This next stage will confirm the region’s reputation as a clean energy centre.”
The plant will create 26 new full time jobs and generate enough electricity to power 20,000 homes, according to Mildura MLA Peter Crisp.
Yet despite this, and a $3 million Regional Growth Fund government grant, it won’t necessarily see prices rise.
Hotspotting’s Terry Ryder told Property Observer that Mildura is classified as a “long shot”.
“Mildura often appears to be on the verge of a boom, but never quite gets there,” he explained.
“The Biomass proposal is just the latest in a long line of alternative energy projects proposed for the Mildura area. A number of solar power stations have been planned. But, like so many alternative power developments planned around Australia, they never seem to happen.”
He also noted that there’s more money being poured in, with a major rail upgrade, but if it goes ahead according to plan then investors shouldn’t expect to see it completed until 2018.
“Mildura has appeal because of its cheap prices and good rental yields, but the missing factor is capital growth. It needs some of these major proposals to happen to push the property market into a growth phase.”
At present, <a href="/news">Mildura's median house price sits at $230,000</a>, according to RP Data, offering a median weekly advertised rent of $265.
In 2012, along with Shepparton, it <a href="/expert-insights/investing/mildura-and-shepparton-most-affordable-regional-areas-in-australia-demographia">topped Demographia's list of Victoria's most affordable regional areas</a>.
</body></html>

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