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

Joel Robinson

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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With cranes dotting the horizon and a new apartment complex seemingly launched every week, many are wondering whether Melbourne will soon have more homes than it knows what to do with.
The Housing Institute of Australia forecasts a total of 51,007 dwelling starts for 2014. The figure puts Victoria's housing output above that of any other state, as it has been for every year since 2005. Dwelling starts in Victoria are predicted to reach 8.7% above those recorded last year.
According to <a href="/news">Victorian government predictions</a>, the number of households in Victoria is set to grow by an average of 1.9% between 2011 and 2021 to a total of 2,600,000 households.
The population projections have some arguing that Victoria is equipping itself for a migration boom. Others, however, believe we are building excess stock that will eventually result in a housing downturn. Meanwhile, the latest Speculative Vacancies Report from Prosper estimates a total of 64,386 properties are likely currently vacant in Melbourne.
<div id="stcpDiv" style="position: absolute; top: -1999px; left: -1988px;">64,386</div>
Property Observer took the question to the experts: Is Melbourne facing an oversupply problem?
Catherine Cashmore: independent analyst and author of Prosper's 2014 Speculative Vacancies Report<img src="/images/authors/fullbody/Catherine-Cashmore.png" alt="" style="float: right;">
If you're looking at it over the state as a whole, compared with the increase in population, it appears that there is ample property for the population.
If you narrow it down it down and look at it at a micro level, some areas definitely have an oversupply. Areas like Cardinia: there are about another 21,000 homes or that are to be built over the next five years or so. But almost 15% of the existing stock is sitting there vacant or unused.
When you say oversupply, in raw terms, sure. But the fact that it's not available to be accessed is important.
This is why it's really important for the government to understand how much latent supply is out there. If we do have a downturn in economic activity – which we will have, property cycles are quite predictable – investors try to offload their stock. That's what happened in 2008. A whole load of tiny apartments came onto the market because investors needed to access funds. Vacant properties go on the rental market. People sell off holiday homes.
In a downturn, people are hit in the pocket and the latent supply becomes active.
I wouldn't touch an inner city apartment. I'm talking about the Docklands, Carlton, West Footscray – all of these areas have seen an enormous uplift in apartment stock.
In Abbotsford, I'd advise any investor to keep glued to SQM's vacancy rates. In Abbotsford, SQM's <a href="https://www.sqmresearch.com.au/terms_vacancy.php" target="_blank">vacancy rate</a> came to 14% at one point. If you add that to our [Prosper's] <a href="https://www.prosper.org.au/2014/11/05/speculative-vacancies-7/" target="_blank">speculative vacancy rate</a>, of properties that have been vacant for 12 months or more – that figure rises considerably.
That is a red flag. The risks are just too great. The supply is not going to go away. You're not going to get capital gains from it, and you're not going to get a tenant.
The government can't keep talking about having a housing supply crisis. [Victorian Planning Minister] Matthew Guy says he doesn't want to see Melbourne suffering from a shortage of supply. They're fine concentrating on pushing the city's boundaries outwards and building more highrises, rather than concentrating on the supply that is vacant.
Robert Larocca: Victoria housing market specialist, RP Data<img src="/images/authors/fullbody/Robert-Larocca.png" alt="" style="float: right;">
The question of supply levels is a vexed one, after all a high level of supply can be great for buyers as it can dampen price growth, but as most buyers are sellers too it is not that simple.
The question is also hard to comprehensively answer, as there are a wide range of data sets and stages in the development cycle to compare.
At a citywide level the volume of homes on the market at any given time is a good measure.  In the month ending on 9 November there were 4.5% more homes newly listed for sale and 6.6% fewer overall homes for sale in Melbourne. Given values have been rising that suggests that there is not oversupply of homes for sale, buyers are buying the new homes and the older stock is also reducing.
But what of the unit market? A casual glance at the Melbourne skyline shows a lot of new high rise residential towers being constructed. Our data shows that those units are finding buyers. The number of units listed for sale is marginally, 2.4% lower than a year ago, and the overall number of units on the market is 3.3% higher.
That suggests that the supply is exceeding demand to a greater extent than is the case in the houses market. That is not necessarily a bad thing. Over the past decade the state government’s policies to address housing affordability concerns have been centred on increased supply in the inner city unit market and outer suburbs. The data shows that it is working.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
Andrew Wilson: Chief economist, Domain Group's Australian Property Monitors<img src="/images/authors/fullbody/Andrew-Wilson.png" alt="" style="float: right;">
I think it's almost becoming common knowledge that in the CBD highrise market, it clearly looks like supply has moved ahead of underlying demand.
We have record levels of approvals for highrises over the last two years.
It's a market that's under development in the sense that demand isn't pushing supply, but supply is trying to lead demand. The difficulty is that a lot of the development is funded by overseas development. The question is whether that investment model reflects the investment model we have here. That is, ensuring there are a lot of pre-sales before construction commences to ensure demand meets supply.
The prospect of empty towers is raised, and it also presents a conundrum for those developers who are looking for a critical mass of pre-sales before construction commences. With the market seemingly flooded, it means there's a lot of competition for a small pool of buyers. I don't know if there's an underlying culture of CBD living in Melbourne, particularly a culture that would satisfy the number of apartments that would be built. I'm not sure if there's the infrastructure to support it. I'm not sure Melbourne has the natural attributes that would support inner city living like in Sydney and Brisbane.
We probably have a lack of high rise in some of the inner suburban areas. South Yarra has undertaken a change in its profile, as has Prahran. I think demand and supply are matching each other in Prahran and South Yarra.
In Boroondora and Bayside and Stonnington, there are constraints from the local community to high rise development but there is the demand there. It's not all about high rise - it's a question of median density as well. The key question is whether there will be a medium density homes available for downsizers. If we do have these restrictions, there is a shortage.
We seem to be moving away from balance. We're building more high rises in the inner city and fewer medium density suburbs.
Developers such as Little Projects seem to be meeting the market, as are many other developers. In the city of Yarra, there seems to be a reasonable balance there.
Terry Ryder: Founder, hotspotting.com.au<img src="/images/authors/fullbody/Terry-Ryder.png" style="float: right;">
I'm surprised this is even up for debate. The oversupply in Melbourne's inner city apartment is starkly obvious. Also readily apparent is that it will get worse. A lot worse. It has the potential to cause a market crash.
Current vacancy rates include 5% in Docklands, 6% in the CBD and 7% in Southbank. That's about 1,200 apartments sitting vacant and seeking tenants, without considering the thousands of apartments under construction or being marketed off the plan prior to construction.
The true level of vacancies may be higher, given a recent report which found that 17% of Docklands apartments consumed no water last year, which presumably means they were permanently vacant.
New highrise projects are being approved by Planning Minister Matthew Guy at a frantic rate. Since coming to office four years ago, Guy has approved close to 100 buildings in Melbourne's inner city areas.
A recent study by RMIT, looking at additions to the supply of inner-city units from 2011 to 2021, found 85,000 apartments either built, under construction or in the pipeline.
Guy has shown that he will approve anything and everything that comes across his desk. A report six weeks ago suggested there were applications for 42 more apartment buildings on his desk – and the record suggests they will all be approved. You have to wonder about his motivations.
It's overbuilding on a grand and reckless scale. And it's all being done, not to provide homes for Melbourne buyers, but for sale to Asian investors.
There is clearly no local demand to support the scale of new supply that's being created. We will soon have vacancies above 10% throughout the inner city suburbs, with rents falling and property values being dragged down with it.
Inner city Melbourne has experienced oversupply in the past. It helps to explain why the market performance of inner city units has been so poor in Melbourne.
There has been no growth in the median unit price for the CBD over the past three years, while the median prices for Southbank and Docklands have fallen in that time.
Over the past five years, the median price for Docklands has averaged growth of just 1.7% per year, while Southbank and the CBD has managed little better, at around 3% per year.
Given the poor historic performance of inner city apartments, the current high vacancies and the impending glut of new properties, I would strongly urge investors – and home buyers – to steer well clear of this market.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
Miriam Sandkuhler: Founder, <a href="https://www.propertymavens.com.au" target="_blank">Property Mavens<img src="/images/authors/fullbody/sandkuhler-profile.png" alt="" style="float: right;"></a>
Having lived in and around the inner Bayside suburbs over the last 20 plus years, the ongoing addition of highrise development, especially in and around Port Melbourne, has had an enormous impact on the area.
While Port Melbourne has an attractive location on the bay with some great amenity, I would say that oversupply of apartments is an issue, not just for investors but for local residents alike.
When attempting to shop at Coles or anywhere in Bay Street, it is often a struggle to find a car park. In securing one, the one hour time limit frequently isn't adequate and the grey ghosts are hot to trot in this densely populated part of the suburb. Bay Street also carries a high volume of traffic during peak hour into and from the CBD and surrounding suburbs.
The local primary school is full to overflowing and the new Albert Park high school is also at capacity (it services Albert Park residents ahead of Port Melbourne residents). There is strong demand for a high school and child care to be built in Port Melbourne.
As we know, high demand and low supply drives capital growth. As demand in Port Melbourne is average, I wouldn't recommend investing in Port Melbourne. Investors can do better in other inner city suburbs with less high and midrise development, lower supply and greater demand.
This is evidenced by there being over 1,000 apartments available for rent and over 1,150 apartments for sale as at today, not including houses for rent or sale. Demand for housing to buy is average, based on data from listings over the last 12 months on realestate.com.au.
If owner occupiers particularly wanted to reside in Port Melbourne, I would recommend that they only buy a period style house to maximise capital growth and keep to the older and more established parts of Port Melbourne - on the north side of Graham Street and towards the city.
In other words, steer clear of all of the apartments.
Todd Hunter: Director and location researcher, <a href="https://www.wheregroup.com.au/" target="_blank">wHere Group</a><img src="/images/authors/fullbody/hunter-profile-2.png" alt="" style="float: right;">
Note: Last year, <a href="/news/vic/melbournes-potential-oversupply-the-experts-have-their-say">when asked the same question</a>, Todd Hunter said Melbourne was "absolutely" facing oversupply. 
So I went back and had a re-look at the available properties for sale and for lease, and I'm sorry, but the numbers tell a similar story:
Docklands and surrounding suburbs: 1,904 units for lease, 2,205 for sale, 4.5% yield
Melton: 840 houses for sale, 170 for lease, 4.7% yield
Whittlesea: 1,912 for sale, 414 for lease, 4.7% yield
Pakenham: 765 for sale, 414 for lease, 4.9% yield
Point Cook: 1,685 for sale, 518 for lease, 4.3% yield
Roxburgh Park: 902 for sale, 178 for lease, 5.1% yield
Werribee: 1,680 for sale, 504 for lease, 4.6% yield
In the above numbers, I have not used any price point and ticked the surrounding areas on realestate.com.au and the suburbs next door also add relevance to the huge over supply in these locations. All locations except for Docklands are houses.
It is also relevant to note that the above numbers account for each advert on the website. Now on many of the adverts where new House and Land is being offered or Blocks of Land, there are many properties on the one advert, so the numbers are even more scary than above – and the yields are very reflective of an over supplied market place.
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jrichardson-uRX5hFdKfN

Exclusive: Does Melbourne have an oversupply problem?

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Melbourne’s strong recent growth means that more modest increases should be expected going forward, according to Opteon Victoria’s head of residential Stuart Bridgeman.
With slowing household income growth, cost of living pressures and housing affordability concerns, he expects subtler increases over the coming months.
However, Bridgeman notes that there are still areas with strong demand – which could be good news for those looking to sell up their property in these locations.
“General demand in the market has been increasing from late 2013 up until now and we would expect this to continue, albeit at a slower rate, than previous years,” he said.
“As we see stronger and weaker pockets form throughout Victoria, it is important for investors and those looking to sell to remember that any growth in value is dictated by supply and demand and this will vary between suburbs and even precincts within suburbs.”
What is in demand:
<ul>
<li>High quality, well-renovated properties in prime positions</li>
<li>Older, character-style housing (still attracting a premium from buyers)</li>
<li>The middle and outer, eastern Melbourne suburbs are seeing significant demand</li>
<li>Properties located in popular school zones</li>
<li>Outside of the CBD, infill developments and new townhouses are proving popular with first home buyers. This is largely in the Western and Northern growth corridors</li>
</ul>
Weaker demand seen for:
<ul>
<li>Inner city high-rise apartments in the CBD and nearby locations (an oversupply could continue on for the next few years)</li>
<li>Melbourne’s outer south-east</li>
</ul>
“While many highrise apartments are being acquired by overseas purchasers and SMSF investors, we could see these numbers drop-off as the economy weakens and proposed changes to overseas investment are implemented,” Bridgeman said.
“In-fill developments are proving particularly attractive for first home buyers,  especially developments that are made up of three to six townhouse style properties.”
However, he warns new home buyers to ensure they know exactly what they’re buying. While the stock can appear to be good, small room sizes can be dysfunctional.
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jduke-EHk3XBmHkn

What Victorian buyers want: The in-demand property types

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A three bedroom house in Melbourne's northern suburbs sold for $258,000 at auction this weekend.
<a href="https://www.realestate.com.au/property-house-vic-dallas-118036475" target="_blank">8 Washington Street</a>, Dallas was the most affordable home auctioned in the city this week, according to RP Data.
Sold under instructions from the estate executor by Richard Imbesi of Stockdale and Leggo Glenroy, the house sits on a 580 square metre plot. The land also holds a separate unit and a garden shed.
The home is within walking distance of Upfield railway station.
According to RP Data, the median price for a house in <a href="/news">Dallas</a> was $280,250 in September. The median price reached a peaked of $328,750 for the last 12 months in March.

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Dallas house the cheapest sold at Melbourne weekend auctions

The top 10 metro and regional Victorian suburbs for first home owner grants

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A boutique family business has won the 2014 Victorian Master Builder of the Year award in the residential category with a distinctive Elwood home.
Peter and Ann Marie Apostoli's <a href="https://armadillohomes.com.au/" target="_blank">Armadillo Homes</a> designed and built the winning house around an existing structure – a 1920s brick home that had undergone significant destructive renovations.
The house now features three levels where there were once two, each with ocean views.
<img src="/images/2014/10/24/Armadillo%20living%203.jpg" alt="">
Master Builders chief executive Radley de Silva described the site's previous house as a "signature property in a prime location" that "had lost its character and purpose".
Of Armadillo Homes' work, de Silva said: "Their vision was to restore the spirit of the home in a way that honoured its past through a modern and innovative interpretation of a family home and they achieved this brilliantly.
"Armadillo Homes attention to detail was impeccable in restoring this home beyond its original glory."
<img src="/images/2014/10/24/Armadillo%203rd%20level%20side%20view.jpg" alt="">
The house's distinctive copper cladding reflects Armadillo Homes director Peter Apostoli's interest in the durability and sustainability of age old building methods. Stone, stainless steel and recycled timber are also used throughout the home.
Constructed using low maintenance materials which develop with time, the contemporary home has enduring appeal, rather than conforming to the fleeting fashions of the moment.
Internal structures of the existing house were removed to improve flow, light and the relation of internal spaces to the external environment.
 <img src="/images/2014/10/24/Armadillo%20kitchen%20full%20view.jpg" alt="">
Views from all three levels have been enhanced, while lower level of the home now spills out onto the outdoor entertaining and pool area via aluminium stacker doors.
 <img src="/images/2014/10/24/armadillo%20alfresco.jpg" alt="">
Armadillo Homes is a small company, developing a low volume of high quality homes. Peter Apostoli told Property Observer the business delivers bespoke end-to-end services.
"We sit down with a customer and develop their ideas, right through from the conceptional brain storming to the final fitout and even custom furnishings if required," said Apostoli.
Their intention to create custom homes with lasting value is apparent in their choice of materials and construction methods, and sets the Elwood home apart from many new family residences in Melbourne – "foam boxes", Apostoli said, that he prefers not to work on.
After winning the Victorian Master Builder of the Year award, Armadillo Homes will compete at the 2014 National Excellence in Building and Construction Awards on 21 November.
According to Master Builders' de Silva, Armadillo Homes "typify the quality craftsmanship, dedication and passion of Victorian Master Builders".
"As with any art, the true art comes from passion and hard work," said Apostoli.
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Armadillo Homes takes out Victorian Master Builder of the Year award

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There are four suburbs in Melbourne, in the inner west and inner north, that represented the best investment value for those looking to take advantage of the market in 2008/2009, according to the Annual Recommended Suburbs Survey from Nyko Property.
Investors who purchased in these suburbs during those years saw substantial growth.
The four suburbs picked by Nyko Property were:
<ol>
<li>
<a href="/news">Footscray</a> 
</li>
<li>
<a href="/news">Maidstone</a> 
</li>
<li>
<a href="/news">Thornbury</a> 
</li>
<li><a href="/news">Preston</a></li>
</ol>
All located within 10 kilometres of the CBD. Footscray and Maidstone are in the inner west, while the final two are in the inner north. In 2008/09, each had a median unit price of less than $400,000.
Nyko Property director Bill Nikolouzakis said that their prices and location made them undervalued 'hotspots' which had achieved strong results for those who purchased in.
“Their price and location gave these key suburbs substantial upside; we identified that they were poised for growth, even in a flat and falling market,” he said.
“Although Footscray and Thornbury had a lower socio-economic demographic, our research suggested their proximity to the CBD and the high performance of the neighbouring suburbs would ensure their gentrification,” said Nikolouzakis.
Those who bought in Thornbury saw the suburb outperform the Melbourne market by over 100% during that period.
“Our survey takes into account the demographics of the suburb as well as the new demographic entering the area through gentrification and selected projects that we felt most suited that change,” he said.
His tip to identifying these hot areas? Plan Melbourne – the document that identifies locations likely to see strong employment and population growth.
“The State government has pinpointed suburbs, and even key areas within those suburbs, in which they anticipate growth and therefore have committed extra funds for improvement of infrastructure and amenities,” he said.
“An in-depth knowledge of the local areas and the micro-economic factors affecting them are the keys to selecting high growth locations.”
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The four suburbs in Melbourne you missed the boat on: Nyko Property

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Docklands has been a substantial project, delivering strong results over the 2013/2014 financial year, according to Planning Minister Matthew Guy.
More than $9 billion has been invested in the area to date. For every $1 million of public funds that has been spent on the area, $50 million of private investment has been made.
Currently, more than $1 billion of construction is underway.
Other projects, however, are also on Places Victoria’s radar. This includes urban renewal areas across Melbourne.
Over the past financial year, they opened the new City of Greater Dandenong municipal building. They realised the sale of non-core greenfield landholdings and had a strong trading year at the LOGIS eco-industrial estate in Dandenong.
“LOGIS, which is a partnership between Places Victoria and Melbourne Water, has set a  new benchmark for industrial land values in Dandenong and is an excellent  example of the value that can be achieved from strong government agency  partnerships,” Guy said.
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$1 billion in construction underway in Docklands

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How expensive does it get to rent a house in Victoria? Well, suburb median advertised weekly rents recorded by RP Data provide an interesting picture.
Here are the eight most expensive suburbs in which to rent a house in Victoria.
<ol>
<li>
<a href="/news">Toorak</a> Median advertised weekly rent:$830 At present, rentals are available from $795 per week per week to $3,000. 
</li>
<li>
<a href="/news">Brighton</a> Median advertised weekly rent: $820 At present, rentals are available from $370 per week to $5,000 per week. 
</li>
<li>
<a href="/news">East Melbourne</a> Median advertised weekly rent: $795 At present, rentals are available from $450 per week to $2,650 per week. 
</li>
<li>
<a href="/news">Sandringham</a> Median advertised weekly rent: $750 At present, rentals are available from $335 per week to $950 per week. 
</li>
<li>
<a href="/news">Hampton</a> Median advertised weekly rent: $725 At present, rentals are available from $325 per week to $2,000 per week. 
</li>
<li>
<a href="/news">Middle Park</a> Median advertised weekly rent: $700 At present, rentals are available from $475 per week to $1,950 per week. 
</li>
<li>
<a href="/news">Portsea</a> Median advertised weekly rent: $700 At present, rentals are available from $260 per week to $1,750 per week. 
</li>
<li>
<a href="/news">Beaumaris</a> Median advertised weekly rent: $700 At present, rentals are available from $500 per week to $1,500 per week.</li>
</ol>
 
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The eight most expensive suburbs in Victoria to rent

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Residex’s John Edwards has called the substantial growth in Melbourne over August a “one off”, with a slower pace to mark the way forward.
He noted that Melbourne’s property market often appears more volatile than others across Australia.
“We suspect this is a function of the selling process, which is predominately auction driven,” Edwards noted.
Melbourne house price growth from August 2012 to August 2013 was 4.57%. From August 2013 to August 2014 it was recorded at 10.71%. Over the last quarter, 2.10% growth was recorded, with 2.31% over the month.
Melbourne unit price growth from August 2012 to August 2013 was 0.57%. From August 2013 to August 2014 it was recorded at 5.80%. Over the last quarter, 0.71% growth was recorded, with 1.0% over the month.
The August house price growth is the highest seen since March 2013.
Edwards said that the quarterly trend suggests that more moderate growth will be recorded over September.
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Melbourne’s significant August growth a “one off”: Residex

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An area's vacancy rate is an important detail, helping you shape your initial picture of the area.
Changes and trends in the vacancy rate and how it compares to other areas will help you consider whether that suburb is the best decision for you. If you're unsure about how to use this figure, start with our quick explainer about <a href="/expert-insights/what-is-a-vacancy-rate-investment-terms-explained">what a vacancy rate is and what it measures</a>. High vacancy rates can be caused by a number of things, like a surge in stock.
Property Observer looked to SQM Research's statistics to see where, across Victoria, the vacancy rates are highest. To see vacancy rates for a specific suburb, you can see <a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1" target="_blank">SQM Research's free data online</a>.
Here are ten to know from the list.
<ol>
<li>
<a href="/news">Southbank</a> 8.3% 
</li>
<li>
<a href="/news">St Leonards</a> 6.4% 
</li>
<li>
<a href="/news"> Docklands</a> 5.5% 
</li>
<li>
<a href="/news">Melbourne (city)</a> 5.1% 
</li>
<li>
<a href="/news">Travancore</a> 5.0% 
</li>
<li>
<a href="/news">St Kilda</a> 3.9% 
</li>
<li>
<a href="/news">Parkville</a> 3.7% 
</li>
<li>
<a href="/news">South Yarra</a> 3.6% 
</li>
<li>
<a href="/news">Elwood</a> 3.1% 
</li>
<li>
<a href="/news">Connewarre</a> 2.9%</li>
</ol>
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Note: Some of these numbers have been amended from initial publishing due to data updates
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Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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

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Developments

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New townhouses

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