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?

<html><body>
Getting into property investing can be a tricky process, it’s often as much about what you can afford as where and what you should be buying.
Previously, Wakelin Property Advisory discussed <a href="/news/vic/what-is-an-investment-grade-property-in-melbourne-and-where-can-you-buy-for-your-budget">how much it costs to get an entry-level investment grade stock in different areas of the Melbourne market</a>. They gathered that around $400,000 is going to be the amount you’ll be looking for on the lower end of the market.
This time, Wakelin’s Jarrod McCabe speaks to Howitt Partners Mortgage &amp; Finance’s Charles Howitt on exactly how much extra cash flow you need in the household budget to finance this sort of an investment.
Factoring in cash flow, mortgage repayments, expenses and some conservative assumptions around costs, they come up with the figure you need to have aside on a weekly basis to fund the property.
You can see their explanations in the video below. Remember, you will need to undertake your own calculations to see what works for your individual circumstances – this is a case study only.
{qtube vid:=ECR0sOBgSS8}
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="135">
 
</td>
<td colspan="2" valign="bottom" nowrap width="149">
$400,000 property
</td>
</tr>
<tr>
<td width="135">
Marginal tax rate (+ Medicare levy) + Temporary Budget Repair Levy
</td>
<td nowrap width="78">
Top
(49%)
</td>
<td nowrap width="71">
Second tier
(39%)
</td>
</tr>
<tr>
<td width="135">
Gross annual rental income @ 3.5%
</td>
<td colspan="2" nowrap width="149">
14,000
</td>
</tr>
<tr>
<td width="135">
Management and other ongoing costs (25% of rental income)
</td>
<td colspan="2" nowrap width="149">
3,500
</td>
</tr>
<tr>
<td width="135">
Net annual rental income
</td>
<td colspan="2" nowrap width="149">
10,500
</td>
</tr>
<tr>
<td width="135">
Annual borrowing costs @ 5% interest only
</td>
<td colspan="2" nowrap width="149">
20,000
</td>
</tr>
<tr>
<td width="135">
Funding difference per annum before tax
</td>
<td colspan="2" nowrap width="149">
9,500
</td>
</tr>
<tr>
<td width="135">
Funding difference per annum after tax
</td>
<td nowrap width="78">
4,845
</td>
<td nowrap width="71">
5,795
</td>
</tr>
<tr>
<td width="135">
Monthly cost after tax
</td>
<td nowrap width="78">
$403.75
</td>
<td nowrap width="71">
$482.91
</td>
</tr>
</tbody></table>
Source: Wakelin Property Advisory
</body></html>

jduke-EHk3XBmHkn

How much money do you need to invest in the Melbourne market?

<html><body>
Myer family scion Richard Shelmerdine and his wife Trine have secured the rights to redevelop Victoria’s historic Point Nepean ­Quarantine Station.
They plan <a href="https://pointgroup.com.au" target="_blank">a $100 million tourism centre</a><a href="https://pointgroup.com.au" target="_blank"> development</a> within the site on the Mornington Peninsula, outside Melbourne.
The Shelmerdines’ Point Leisure Group plans to develop an upmarket hotel, ­function centre, health retreat, hot spring facility and museum.
<img src="/images/2014/07/21/point-napean-july-21-four.jpg" alt="">
<img src="/images/2014/07/21/point-napean-july-21-three.jpg" alt="">
The 17 hectare site was Victoria's quarantine ­station in 1852.
A marine education centre, a National Centre for Coasts and Climate, operated in conjunction with The University of Melbourne, is also planned amid the 50 buildings on site.
<img src="/images/2014/07/21/point-napean-july-21-five.jpg" alt="">
In 2008, Richard Shelmerdine secured another piece of peninsula history, The ­Sisters estate in Sorrento for around $18 million, later subdividing it for profit after applying to the Victorian Civil and Administrative Tribunal to slice it into five pieces.
It was the beach that was the site of Victoria's first European settlement in 1803, in private hands since 1890 and was previously owned by eccentric millionaire Peter Rand.
<img src="/images/2014/07/21/point-napean-july-21-one.jpg" alt="">
Richard Shelmerdine is a fourth-generation member of the Myer retailing clan, a family that have been locals at Portsea for more than 50 years.
Richard’s father, Peter Shelmerdine, was a councillor on the Mornington Peninsula. 
</body></html>

jchancellor-FAypfDUnLy

Shelmerdine family secure Point Nepean Quarantine Station development project

<html><body>
Melbourne's inner ring's highest clearance rate suburb was Carlton North with 88% from 32 auctions.
It just pipped Elsternwick in the top 10 clearance rates in inner Melbourne with its busier 87% success rate.
Recent sales included a three bedroom terrace at <a href="https://www.realestate.com.au/property-house-vic-carlton+north-117100011" target="_blank">134 Fenwick Street</a>, Carlton North (pictured above) that sold through Nelson Alexander at $1.22 million.
It last sold at $435,000 in 2002.
Neither suburbs had any auctions last weekend, and this weekend there is just the one in Elsternwick.
It is a new home <a href="https://www.realestate.com.au/property-house-vic-elsternwick-117311431" target="_blank">at 19a Riddell Parade</a>. 
<img src="/images/2014/07/18/elsternwick%20july%2018%20one.jpg" alt="">
<table style="width: 460px;" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
Suburb (15+ Auctions)
</td>
<td valign="middle">
Total Auctions 
</td>
<td valign="middle">
Sold at Auction
</td>
<td valign="middle">
Clearance Rate
</td>
</tr>
<tr>
<td valign="middle">
Carlton North
</td>
<td valign="middle">
32
</td>
<td valign="middle">
28
</td>
<td valign="middle">
88%
</td>
</tr>
<tr>
<td valign="middle">
Elsternwick
</td>
<td valign="middle">
91
</td>
<td valign="middle">
79
</td>
<td valign="middle">
87%
</td>
</tr>
<tr>
<td valign="middle">
Camberwell
</td>
<td valign="middle">
180
</td>
<td valign="middle">
154
</td>
<td valign="middle">
86%
</td>
</tr>
<tr>
<td valign="middle">
Brunswick East
</td>
<td valign="middle">
60
</td>
<td valign="middle">
51
</td>
<td valign="middle">
85%
</td>
</tr>
<tr>
<td valign="middle">
Malvern East
</td>
<td valign="middle">
161
</td>
<td valign="middle">
135
</td>
<td valign="middle">
84%
</td>
</tr>
<tr>
<td valign="middle">
Clifton Hill
</td>
<td valign="middle">
56
</td>
<td valign="middle">
47
</td>
<td valign="middle">
84%
</td>
</tr>
<tr>
<td valign="middle">
Hawthorn East
</td>
<td valign="middle">
117
</td>
<td valign="middle">
98
</td>
<td valign="middle">
84%
</td>
</tr>
<tr>
<td valign="middle">
Abbotsford 
</td>
<td valign="middle">
55
</td>
<td valign="middle">
46
</td>
<td valign="middle">
84%
</td>
</tr>
<tr>
<td valign="middle">
Flemington
</td>
<td valign="middle">
48
</td>
<td valign="middle">
40
</td>
<td valign="middle">
83%
</td>
</tr>
<tr>
<td valign="middle">
Northcote
</td>
<td valign="middle">
183
</td>
<td valign="middle">
152
</td>
<td valign="middle">
83%
</td>
</tr>
</tbody></table>
Source: REIV
</body></html>

Carlton North pips Elsternwick for best auction clearance rate

<html><body>
Melbourne house prices have risen to a new record median of $658,000, with the city's median price up 3.3% over the three months to 30 June. 
Real Estate Institute of Victoria chief Enzo Raimondo said the Melbourne market remains strong and continues to show solid gains. 
There was a 16.7% year on year increase. 
The median house price was up from $637,000 in the March quarter - however the quarterly 3.3% increase was lower than the 9% recorded in the September quarter last year. 
"It was the city's middle ring suburbs, highly sought after by buyers priced out of the inner-city, which showed the most substantial house price growth," Raimondo said.
The middle Melbourne house price of $720,000 was up 1.8% in the June quarter and 15.8% year-on-year growth.
 Inner-city house prices grew 12.1% year-on-year, while for the outer suburbs the figure was 10.4%. 
Middle ring suburb auction listings around the Melbourne median price range include the 26 July Bulleen offering.
<a href="https://www.realestateview.com.au/Real-Estate/13-millicent-avenue-bulleen/Property-Details-buy-residential-7299741" target="_blank">Agents have advised a $620,000 to $680,000 price range for 13 Millicent Avenue</a>, Bulleen (pictured above) at its Fletchers auction.
Offerings at around the $720,000 middle Melbourne median include <a href="https://www.realestateview.com.au/Real-Estate/13-yorkshire-street-blackburn-north/Property-Details-buy-residential-7298851" target="_blank">13 Yorkshire Street Blackburn North</a> (pictured below) where the Noel Jones agents are suggesting $690,000 plus at its 26 July auction.
<img src="/images/2014/07/17/blackburb%20north%20july%2017%20one.jpg" alt="">
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Middle suburb sales strength triggers record $658,000 Melbourne median house price

<html><body>
Houses offered for private sale are selling faster this year than last year especially in middle and outer Melbourne suburbs. 
Two locations where the vendors were securing buyers much faster were the beachside suburbs of Mt Martha and Blairgowrie.
The <a href="https://www.reiv.com.au" target="_blank">REIV</a> chief Enzo Raimondo said there have also been significant falls in the number of days properties required before sale in other suburbs, from western bayside Williamstown to Narre Warren in the outer east. 
"There had been a particularly notable change on the Mornington Peninsula, made more accessible to Melbourne by the opening of Peninsula Link," Enzo Raimondo said.
"Three positions on the REIV's list of top 10 improvers were Peninsula suburbs: Mount Martha, Blairgowrie and Mount Eliza. 
"Properties there took between 46 and 38 days less to sell in the first six months of this year, compared to 2013.  
“While the focus this year has been on a stronger auction market, the table shows that the private sale market in a number of suburbs is also stronger this year,” Mr Raimondo said.  
He added that private sales have traditionally been popular in outer suburbs, offering familiarity to local buyers.
 “One of the features (of a private sale) is that it does not impose the time constraints – and immediate decision-making – that’s required at an auction,” he said.
<img src="/images/2014/07/16/table-jluy-16-one.jpg" alt="">
Source: REIV.
* Number of days on market for private sales (houses) 
** Difference (i.e. reduction) in number of days on market in 2014 compared to 2013.Slight differences can occur due to rounding.
</body></html>

Mornington Peninsula private treaty listings get a hurry on: REIV

<html><body>
Recent data from Fitch Ratings Agency shows that mortgage delinquencies are on the increase in Victoria. At a time when interest rates are low and house prices are generally increasing, this comes as a surprise.
Victoria as a whole has performed the worst, seeing a delinquency rate of 1.37% as of March 2014. However, it was the only state or territory to see negative performance in the year to March.
Unexpected events and costs in life, as well as changes in your situation (such as losing your job) can cause you to suddenly be unable to pay your mortgage. While Property Observer suggests that you should prepare for any eventualities – some will not until the situation comes to a missed repayment.
If you are finding yourself struggling with repayment then there are some things you can do to keep your head above water.
Firstly, this is what is likely to happen if you stop paying your mortgage.
If you miss a repayment, the first thing you’ll likely receive is notification from your lender – often in the form of a letter.
If you then fail to pay, you will likely be issued a default notice that gives you 30 days to get back up to date with your mortgage.
If you then do not pay, you may be issued a statement of claim or a summons for the debt, or repossession of your property.
After this, you will receive a legal order to take possession of your home. After this, you will then see an authority come to evict you and change your locks.
Don’t think that lenders actively enjoy putting anyone through this process, and don’t think that there’s nowhere you can go for help. As you can tell from the above, you will not be immediately pushed out of your property, however you do need to act to stop the process from happening.
Firstly, if you think you’re going to miss a repayment or if you do miss a repayment – get in touch with your lender immediately. Regular, clear communication is going to assist you with stopping the above process from occurring.
HARDSHIP VARIATIONS
If you are in difficult circumstances, and your loan is at a certain value, you may be able to apply to your lender for a hardship variation.
The government <a href="https://www.moneysmart.gov.au/managing-your-money/managing-debts/trouble-with-debt/hardship-threshold%20" target="_blank">lists what the contract value must be</a>, however if your contract was entered into on or after March 2013 you can apply for a hardship variation regardless of your loan’s value.
Essentially, your lender will vary the terms of your contract. This will make your repayments more affordable, however is likely to extend the loan term and cause more interest to be paid overall. However, this stops you losing your property – and there is the possibility of making extra payments down the track when you’re in a better situation.
Lenders should be fairly helpful with this process. If you find yourself unfairly refused a variation, contact the financial ombudsman.
Get your information organised for when you approach your lender – many of them will want to see payslips, employment letters, budget plans (for instance, this is the <a href="https://www.commbank.com.au/content/dam/commbank/about-us/who-we-are/personal-money-plan.pdf" target="_blank">Commonwealth Bank's required budget form</a>), accountant’s letter and other appropriate details to your case (for instance, a doctor’s certificate or a Centrelink statement). Financial counsellors can often speak to the bank on your behalf.
CHECK INSURANCES
If you were sick, or suddenly found yourself unemployed, had you previously taken out an insurance policy to cover this? It may be time to put in a claim to cover yourself for your mortgage if you’d sufficiently covered yourself previously. Double check your policies.
CONSOLIDATING AND REFINANCING
Consolidating and refinancing to bring down your overall repayments and to manage them can suit some, however only if you’ll pay less in fees and interest. It may only be a short-term fix, and you will still need to be able to meet the repayments, plus it may cost you more over the long-term. Watch for hidden fees and costs.
SELLING OR RENTING YOUR PROPERTY
This will not be an option for everyone, but if it’s looking as though you may not be able to afford the home, particularly in the long-term, it may be time to downsize or to look to renting. Beware; this is a costly process, so you will want to run your numbers carefully beforehand. Also remember that it can take a lengthy period of time to sell a property for a price you are happy with, and if the property has dropped in value then you will be facing debt even on the other end of the transaction.
Another alternative is to rent out a room in your house to create some additional income to assist with the repayments.
SPEAK TO AN INDEPENDENT PROFESSIONAL
There are many professionals available for free across Australia, both in terms of finance and legal assistance, that can help you if you get into hardship.
<a href="https://www.financialcounsellingaustralia.org.au%20" target="_blank">Financial counsellors </a>can provide assistance and information, while <a href="https://www.naclc.org.au" target="_blank">free legal advice</a> can assist with credit disputes and debt recovery through courts.
PLAN AHEAD
Remember, mortgage repayments are about more than just the next one coming up. You’ll need to be putting into place a forward-thinking budget and plan to ensure you’re in a comfortable situation.
The government’s Money Smart suggests avoiding borrowing more money or using credit cards, borrowing from friends or family, consolidating/refinancing if there are hidden fees and costs, switching home loans or accessing your super.
YOU MAY ALSO WANT TO READ
Divorce, death, debt and default: <a href="/guides/divorce-death-debt-and-default-six-questions-smsf-trustees-should-be-asking">Six questions SMSF trustees should be asking</a>
<a href="/expert-insights/buying/you-insure-your-home-so-why-not-your-income">You insure your home, so why not your income?</a>
</body></html>

Victoria’s mortgage delinquency on the rise, how you can stay above water

<html><body>
According to the RP Data Rismark June home value results released today, Melbourne dwelling values rose by 1.8% over June but are still lower over the quarter with a 2.4% fall. 
This further highlights some very short term variability against a stable background with a 2.9% rise over the first half of the year.
Melbourne is showing all the signs of a stable but shallow growth phase with a 14.2% rise over this cycle.
The market is well-placed for spring, well ahead of any of the previous three years.
The data shows that this is less of a roller coaster ride than the last two cycles in 2007 and 2010 and is therefore likely to be more sustainable.
House values rose by 1.7% in the month and by 3.3% this year compared to a rise of 2.7% for units which have shown zero growth this year.
The median sale price from settled sales in the quarter was $630,000 for houses and $468,000 for units.
Quite often, myths or commonly accepted facts about the property market can turn out to be incorrect when a review of the actual numbers is conducted.
Do people really buy and sell every seven years?
It’s often said that most home owners buy and sell every seven years, however, research shows that in Melbourne the average hold period for houses is 11.4 years and for units 9.5 years.
While the hold period differs from suburb to suburb, there are a number that match the commonly accepted seven years. 
In Melbourne these include <a href="/news">Pakenham</a>, <a href="/news">Narre Warren South</a>, <a href="/news">Burnley </a>and <a href="/news">St Kilda West</a>.  
Some of the shortest hold periods for property ownership are in the city’s newest suburbs such as <a href="/news">Lyndhurst</a>, <a href="/news">Doreen </a>and <a href="/news">Truganina </a>where the average hold period for a house is around four years. 
At the other end of the spectrum is <a href="/news">Vermont South </a>with a hold period of 18.2 years.
Is it true that houses double in value every decade?
The answer to this question highlights that sometimes timing is everything in real estate.
The RP Data Home Value index for houses in Melbourne shows values doubled in just over seven years between February 2003 and October 2010 however, the same scenario occurred over 11 years between February 2003 and May this year. 
Do rents always rise?
It seems that rents are often always rising when in fact they may not be. The reality is that it all depends on balance of demand and supply in the relevant suburb.
For instance, over the past five years advertised rents for houses in <a href="/news">Toorak</a>, <a href="/news">Doreen </a>and <a href="/news">Mernda</a> have decreased. While in <a href="/news">Clayton</a>, <a href="/news">Oakleigh</a> and <a href="/news">Eltham</a> they have risen by no more than 1% per annum.
There are many more that have risen over this time including the popular suburb of <a href="/news">Northcote</a> where rents have risen by 28% over five years.
Houses sell for more than the advertised cost – but do they?
A popular topic over dinner tables and in the press is the relationship between advertised prices for houses at auction and the sale price. The main view is that the sale price always exceeds the advertised price.Less often discussed is the fact that most homes sell for less than their advertised price.
 Around 70% of homes sell by private sale and are usually sold for around 6% below the initial advertised price.  
However, this does vary across the city with the discount being 8% in <a href="/news">Springvale</a>, and 4% in <a href="/news">Yarraville</a>.
</body></html>

rlarocca-zWhvjay44N

Melbourne property market myths v the hard facts

<html><body>
Melbourne units sold for a median price of $468,000 for the quarter to June, according to RP Data.
The newly released figures in RP Data-Rismark’s Daily Home Value Index for June show that Melbourne units displayed 2.7% capital growth. However, with a 2.4% drop over the quarter to June, Melbourne units have seen no actual capital growth in the year to date.
Property Observer looks at some recent sales of townhouse villas, units and apartments to see what exactly $468,000 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-prahran-117088995" target="_blank">6/8 Grandview Grove Prahran</a>
 <img src="/images/2014/07/02/1.jpg" alt="">
This one bedroom apartment with a car space is located in the inner south-eastern suburb of <a href="/news">Prahran</a>. It was sold for $468,000 last month.
The north facing apartment has a lounge, separate kitchen and dining area, and a double bedroom with built in robes.
In twenty years, it has more than quadrupled its value – the vendors purchased the home for $95,000 in 1994.
Price: $468,000
Bedrooms: One
Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-carrum-117002651" target="_blank">25A McLeod Road, Carrum</a>
 <img src="/images/2014/07/02/2.jpg" alt="">
Located in Melbourne’s south-east, this <a href="/news">Carrum</a> free-standing unit sold for $470,000 in June.
It has three bedrooms, two bathrooms, and a separate lounge area.
The unit, with a double carport, shares the block with one other unit, and is within walking distance of the beach.
Price: $470,000
Bedrooms: Three
Drive to CBD: 43 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-pascoe+vale-116887055" target="_blank">3/385 Gaffney Street Pascoe Vale</a>
 <img src="/images/2014/07/02/4.jpg" alt="">
This single level brick unit sold for $465,000 at the beginning of June.
Located in the northern suburb of <a href="/news">Pascoe Vale</a>, the three bedroom home is close to the Pascoe Vale shops, train station, Citylink and in the <a href="/news">Strathmore</a> school zone.
Price: $465,000
Bedrooms: Three
Drive to CBD: 22 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-footscray-116809915" target="_blank">G05/277-287 Barkly Street Footscray</a>
 <img src="/images/2014/07/02/5.jpg" alt="">
In the fast-gentrifying inner Western suburb of <a href="/news">Footscray</a>, this ground floor apartment has two bedrooms and one bathroom. It sold for $465,000 last month.
Located in the Barkly Theatre Apartments, the open plan apartment has its own private outdoor entertaining areas, a galley style kitchen and secure parking.
Price: $465,000
Bedrooms: Two
Drive to CBD: 18 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-blackburn-116800915" target="_blank">2/194 Surrey Road Blackburn</a>
 <img src="/images/2014/07/02/6.jpg" alt="">
This eastern suburban unit sold for $460,000.
The brick villa with two bedrooms and one bathroom is within walking distance of <a href="/news">Blackburn</a> Village, the train station, primary schools and buses.
The vendors bought the unit for $315,000 in 2008. Price: $460,000 Bedrooms: Two Drive to CBD: 27 minutes
</li>
</ol>
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jrichardson-uRX5hFdKfN

What can you buy for Melbourne’s median unit price?

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A Georgian-inspired Toorak mansion on a 1,178 square metre block sold for $6.01 million was the weekend's highest sale in Victoria.
It was listed through Tim Derham and Jock Langley of Abercromby’s Real Estate, inconjuction with Australian Professionals Property Service, with three bidders competing at the auction. 
The initial price guidance was given as $4.5 million plus. The opening bid was $4.8 million, with the formal on the market announcement made at $5.25 million.
It offered the potential for multi-unit development subject to council approval sitting within City of Stonnington’s draft general residential zone, which allows for medium density development of up to three stories.
The five bedroom home sat at the rear of a L-shaped block at <a href="https://www.realestateview.com.au/Real-Estate/42-washington-street-toorak/Property-Details-buy-residential-7161159" target="_blank">42 Washington Street, Toorak</a> which last sold in 1976 at $212,000.
Melbourne recorded a preliminary clearance rate of 72% according to the REIV.
THE TOP 5 HOUSES
42 Washington Street, Toorak $6,010,000 
2. 13 Oxford Street, Malvern $4,225,000 
3. 9 Brynmawr Road, Camberwell $2,815,000 
4. 15 Raven Street, Kew $2,810,000 
5. 57 Athelstan Road, Camberwell $2,350,000 
CHEAPEST 5 HOUSES 
1. 127 Eighth Avenue, Rosebud $241,000 
2. 46 Booth Crescent, Dandenong North $310,000 
3. 32 Bellbird Avenue, Launching Place $310,000 
4. 5 Parkstone View, Craigieburn $340,000 
5. 17 Millstream Pass, Craigieburn $345,000 
Source: REIV
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Toorak home with medium density potential fetches $6.01 million

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June is set to be another record-breaking month with auction numbers, according to the REIV.
The REIV has tabulated about 4,000 auctions for June which will comfortably pass the record of 3,329 auctions held in June 2010.
There was a weekend clearance rate of 71 per cent compared to 61 per cent June Queen's Birthday long weekend and 70 per cent on the same weekend last year.
The REIV is expecting about 870 auctions in 246 suburbs this weekend, June 21/22.
The top auction locations this week are Richmond (19 auctions), Glen Iris (13 auctions), Hawthorn (12 auctions) and Preston (11 auctions).
Auctions continue to become more popular in the outer suburbs of Melbourne. \
So far this year, 17 per cent of auctions in Melbourne were held in outer suburbs in locations such as Craigieburn, Wheelers Hill, and Parkdale. 
This compared to 14 per cent this time last year.
<a href="https://www.realestateview.com.au/portal/search?rm=search&amp;mapsearch=0&amp;sub=Wheelers%20Hill%20VIC%203150%2C%20&amp;sur=bord&amp;bel=0&amp;beh=0&amp;bal=0&amp;bah=0&amp;sor=featured&amp;CID=0&amp;GID=0&amp;con=S&amp;ptr=r&amp;pal=0&amp;pah=0&amp;portalview=residential&amp;portalsection=buy&amp;journeyplanner=1&amp;jpdate=2014-06-21&amp;jpday=1&amp;bs=12&amp;prl=0&amp;prh=0" target="_blank">There are four Wheelers Hill auctions this weekend</a>.
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