New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

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?

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

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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.
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jchancellor-FAypfDUnLy

Mornington Peninsula private treaty listings get a hurry on: REIV

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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>
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jduke-EHk3XBmHkn

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

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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>.
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rlarocca-zWhvjay44N

Melbourne property market myths v the hard facts

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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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Outer Melbourne listings assist record June auction volume: REIV 

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There were no loss making property sales detected in just the two Melbourne, Victorian municipalities during the March quarter, according to the latest RP Data Pain and Gain report.
They were Murrindindi and Moorabool.
The highest volume of loss-taking was the 19.1% that sold for less than last time in the increasingly problematic Melbourne municipality where the typical loss was $35,000, followed by the 13.4% in the Whittlesea municipality were the typical loss was $17,500.
The biggest losses were taken in the Macedon municipality at a typical $161,500 drop.
Some 22 of the 35 municipalities secured gains well in excess of the biggest loss, with the biggest being a typical $458,000 gain Bayside and a $455,500 gain in the Manningham municipality.
Some 7.4% of Melbourne homes which re-sold over the March 2014 quarter sold at a loss, down from 9.3% at the same time a year ago but up from 6.1% the previous quarter. 
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Source: RP Data
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Bayside the biggest Victorian profit takers, but Murrindindi and Moorabool property sellers make no losses

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Northwood Farm, a stud in the making given its location within Victoria’s thoroughbred horse breeding heartland, has been listed for sale.
Northwood Farm, which has been a cattle grazing property, has as its immediate neighbour Eliza Park Northwood, one of the breeding properties of the Eliza Park group owned by Hong Kong based Sun International. Just a short distance away is Darley Stud, which has recently undergone a major development by the Al Maktoum family, the ruling family of Dubai.
A little further north on the same side of Northwood Road are to be found the further acclaimed thoroughbred studs and breeding farms including Yarran and the major Swettenham Stud.
Its impressive stone and timber homestead was designed by French architect Claudine Dublier with granite stone sourced locally from Oak Valley in the nearby Strathbogie Ranges for the vendors Tony and Cathy Blazey who selected the land when it was just vacant farm land in 2000.
With direct frontage to the Goulburn River, the Northwood Farm at 60 Johnsons Lane has been listed for 28 June auction <a href="https://www.prh.com.au/property-details?listing_id=1333" target="_blank">through agent Bart O'Sullivan at Pat Rice &amp; Hawkins</a> with expectations around $2 million.
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Northwood Farm, Seymour farm offering

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There are two very frequently asked questions in real estate. The first is what counts as a “good” investment property, also known as investment-grade stock. The second is the damage that securing one of these properties will do to your back pocket.
Of course, this differs from city to city. Wakelin Property Advisory, who specialise in the Melbourne market, have answered these two questions for one-bedroom apartments, two bedroom apartments and two bedroom houses.
Firstly, they note that the property must be in a high land value location, close to transport, schools, village-type shops, restaurants and recreation activity and must be on an attractive street with architecturally consistent streetscape.
These are the non-negotiable aspects when they property hunt.
Richard Wakelin notes that this is so you can ensure somewhere with consistent, historical growth and that has the crucial scarcity factor.
So how much do you need to scrape in to purchase these types of property?
Wakelin notes that $400,000 is the starting point (if you aren't yet at this capacity, the video below includes some tips for starting out on less).
This nets a one bedroom apartment within the inner north that fulfils the above criteria.
Suburbs for a $400,000 budget (inner north):
<ol>
<li>
<a href="/news">Carlton North</a> 
</li>
<li>
<a href="/news">Brunswick</a> 
</li>
<li>
<a href="/news">Kensington</a> 
</li>
<li>
<a href="/news">Flemington </a> 
</li>
<li><a href="/news">Ascot Vale</a></li>
</ol>
Suburbs for a $450,000 budget (inner bayside apartments):
<ol>
<li>
<a href="/news">Elsternwick</a> 
</li>
<li>
<a href="/news">Elwood </a> 
</li>
<li>
<a href="/news">St Kilda </a> 
</li>
<li><a href="/news">St Kilda West</a></li>
</ol>
Suburbs for a $450,000 budget (inner eastern suburbs apartments):
<ol>
<li>
<a href="/news">Hawthorn</a> 
</li>
<li>
<a href="/news">Toorak</a> 
</li>
<li><a href="/news">South Yarra </a></li>
</ol>
Higher budgets:
<ul>
<li>$600,000: Can net you a two-bedroom apartment in the inner north</li>
</ul>
<ul>
<li>$650,000: Can net you a two-bedroom apartment in the bayside and inner eastern suburbs 
</li>
<li>$700,000: Can net you a single fronted two-bedroom cottage in the inner north 
</li>
<li>$800,000: Can net you a single fronted two-bedroom cottage in the bayside and inner eastern suburbs</li>
</ul>
You can watch the video below for more of Richard Wakelin’s thoughts on investing in Melbourne and what to do if your budget doesn't yet stretch to $400,000.
{qtube vid:=G4xUGkdIFrs}
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What is an investment-grade property in Melbourne and where can you buy for your budget?

<html><body>
Melbourne saw the biggest price drop for houses of any capital city last month, according to RP Data.
RP Data-Rismark’s Home Value Index recorded a 3.6% drop in house values in May. The median price of houses in Melbourne based on settled sales over the quarter to May now sits at $612,000.
Property Observer looks at recent sales in Melbourne to see just what that price will get you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-flemington-116056671" target="_blank">282 Pin Oak Crescent, Flemington</a>
<img src="/images/2014/06/10/flemington-june-10-one.jpg" alt=""> This two bedroom Victorian weatherboard sold for $600,000. Marketed as a “renovators delight”, it was sold at executors auction through Geoff Green and Adam Hicks of Geoff Green Real Estate. The <a href="/news">Flemington</a> home is within walking distance of a train station, trams, cafes and restaurants and the Newmarket Village shops.
Price: $600,000 Bedrooms: Two Drive to CBD: 16 minutes
</li>
<li>
14 St Andrews Close, Croydon 
<img src="/images/2014/06/10/2.jpg" alt=""> A four bedroom, three bathroom <a href="/news">Croydon</a> home sold for $608,000 last month. Set on a 1,092 square metre plot, this sprawling family home is essentially a duplex, with two dwellings under the same roof. At one end of the home there are three bedrooms, two bathrooms, a kitchen, two large living spaces and a separate dining space. The other home, which has separate meters and access has a bedroom, one bathroom, a kitchen and dining area.
Price: $608,000 Bedrooms: Four Drive to CBD: 43 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-reservoir-116465303" target="_blank">9 Tambo Avenue, Reservoir</a> <img src="/images/2014/06/10/3.jpg" alt=""> This home is located in the northern suburb of <a href="/news">Reservoir</a>, roughly 12 kilometres from the Melbourne CBD. The three bedroom, one bathroom home has a formal living room, a separate formal dining room and a central kitchen. Sitting on a 730 square metre lot, the new owners could potentially redevelop on the land as the neighbours have done.
Price:$620,000 Bedrooms: Three Drive to CBD: 34 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-seddon-116323435" target="_blank">17 Scott Street, Seddon</a> 
<img src="/images/2014/06/10/4.jpg" alt=""> This two bedroom home clad in Tasmanian Red Gum was sold for $615,000 earlier this year. The <a href="/news">Seddon</a> house was marketed as an “Eco-home” by selling agent Bretty Ayles of Village Real Estate, with exterior double insulation, a “thermal chimney for heat escape”, double glazed windows, solar panels and a first flush cleaning system for water capture. 
Price: $615,000 Bedrooms: Two Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-ringwood-116772519" target="_blank">41 Barkly Street, Ringwood </a>
<img src="/images/2014/06/10/5.jpg" alt=""> Another two bedroom weatherboard home, this house in <a href="/news">Ringwood</a> sold for $610,000. The home has an open living and dining area, a renovated kitchen and sunroom, with polished timber floorboards throughout. Outside, there is a carport and covered verandah. 41 Barkly Street is within walking distance of Heatherdale and Ringwood Station.
Price: $610,000 Bedrooms: Two Drive to CBD: 32 minutes
</li>
</ol>
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