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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New greenfields development Shannon Waters, set to be the only estate east of Sale to be connected to the NBN, is opening the region’s largest display village.
Celebrating the opening through a New Homes Expo this month, they will launch the largest display village in East Gippsland featuring a number of different house and land options, along with NBN demonstrations.
The developer of Victoria's <a href="https://www.shannonwaters.com.au" target="_blank">Shannon Waters</a>, Stan Collins, said that they would be taking a number of ballot-selected attendees on helicopter rides over the area. A trackless train will take others around the display to the estate’s central parkland to see the views and gorge. Oliver Hume is marketing the sites at 100 Bairnsdale-Dargo Rd.
Stage two of the <a href="/news">Bairnsdale</a> development has been launched, after stage one sold out prior to Christmas. Stage one consisted of 74 blocks, and it was the fastest selling estate in the region. The median sale price for houses in Bairnsdale is $235,000, according to RP Data, with a median weekly achievable rent of $260 - providing an indicative 2.6% yield.
The event will run from 11am to 3pm on March 15.
Shannon Waters recently launched its stage two release following unprecedented demand for allotments from local and regional buyers.
Collins said the 74 blocks in stage one A and B had sold out by Christmas securing it the position of the fastest selling estate in the region. A number of homes are currently under construction and complete, with some already living in the estate. Ten blocks are said to have already sold in stage two.
Prices for land start at $94,900 with a number of sizes available, looking to cater to first home buyers upwards.
Builders for the house and land packages include Simonds, Colmac &amp; Blay Builders, Key Homes, Metricon, Aspired Living and a number of others. There's approximately 20 hectares of open space, including walking trails, with the location being created around a lake and the Mitchell River. The area is close to a number of amenities such as hospitals, schools and shops, and is five kilometres from Bairnsdale CBD.
It is located outside of the flood zone, and includes flat blocks. It appears 230 square metres is the starting block size.
<a href="https://mce_host/jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
                               
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jduke-EHk3XBmHkn

Fastest selling estate in East Gippsland, Shannon Waters, to open largest display village in region

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Governor-General Quentin Bryce has officially opened Victoria’s home of architecture today at 41 Exhibition Street, in a strata-titled commercial tower developed by the Australian Institute of Architects.
The commercial tower, named 41X, is 22-storeys and with a Five Star Green Star rating, is home to the Institute’s Melbourne offices, including the Victorian chapter, over five levels.
Located on the corner of Exhibition Street and Flinders Lane, it is home to 15 other purchasers and tenants, and is the first strata commercial office building with a focus on carbon neutrality.
“41X successfully shows how private and not-for-profit organisations can have a positive impact on the development of our cities by creating world class, cutting-edge, environmentally responsible commercial buildings,” said Bryce.
“This elegant addition to Melbourne’s CBD makes a bold statement about the value of design. With this building, the Institute is strongly reinforcing the value of architects and architecture to the sustainable growth of our community – tangibly fulfilling its mission of ‘making the world a better place through architecture’.”
There is a design “haven” on level one, which houses an architecture and design bookshop – Architext – and an Axil Coffee Roasters café.
The project was initially prompted in 2006 with a feasibility study for the site commissioned. Renovation and relocation were considered before a redevelopment was settled on.
A two-stage design competition was then held in 2008, before the commission was awarded to winners Lyons Architects with their public/commercial concept. In 2012, HASSELL was then selected as the architect for the fit-out of the five levels occupied by the Institute.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Quentin Bryce officially opens Victoria’s new home of architecture: 41 Exhibition Street

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A preliminary auction clearance rate of 73.9% was reached from 1,319 auctions this week in Melbourne. This compares to 65.6% for the same time last year from fewer auctions.  
This represents a substantial lift on the results a year ago and is a very strong result for the Melbourne market as it follows the highest volume of auctions for February on record.
Last month there were 2,623 auctions with a clearance rate of 71.5%. This was higher than the 2,571 recorded in 2010 although the clearance rate in February that year was 79%.  
Vendor discounting for units at private sale tightened significantly from 5.3% last week to -4.9% and eased slightly for houses from -5.6 to -5.7%.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
               
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rlarocca-zWhvjay44N

A substantial lift on 12 months ago: RP Data's Melbourne weekend auction analysis

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Considering the axing of Canada’s wealthy investor immigration program, as well as the introduction of five new apartment towers in the CBD, accounting and advisory firm William Buck’s Neil Brennan is predicting that Melbourne is set to be the hotspot for foreign investment.
Pointing to the end of the Canadian Government’s scheme, which he noted many Chinese nationals had bought into, he said that wealthy investors would be looking to place their money elsewhere – and that Melbourne might just be the next spot for them.
The Canadian scheme saw applicants worth $1.6 million or more loaning the government $800,000 interest free for five years, allowing them to then apply for citizenship.
“The concentrated multi dwelling development opportunities that are available in Melbourne as result are perfectly suited to foreign investors with a large amount of freely available capital,” he said.
Part of the abundance of these multi-dwelling development opportunities is due to some builders meeting “continuous road blocks” when looking to develop in traditional Melbourne suburbs, pushing them towards higher density dwellings, said Brennan.
“The continued growth of neighborhood zoning combined with the time taken for many projects to receive approval is deterring smaller medium density development usually undertaken by builders on behalf of mum and dad investors,” he said.
“As a result the appetite to undertake a traditional sub division of an established block continues to diminish.”
With this in mind, he said that one of the impacts of a “potential flood of overseas investment” is that it could result in an apartment over-supply, and a possible undersupply of mid-level housing, as developers look to cater to this booming market segment.
Foreign investors, he said, are typically looking for the following types of property: Inner city Little or no maintenance Highly tenantable
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
 
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Development expert predicts flood of foreign investors in Melbourne to cause potential oversupply

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Buyers will need to take last weekend’s very strong result into account at the 1,228 auctions scheduled this week. A clearance rate in the mid 70s indicates that they will face more competition when bidding for the homes at auction and this may translate into higher prices being paid.
That result came after a new peak house price was recorded in January, suggesting many buyers still see a lot of value in the Melbourne residential market. The February RP Data–Rismark Home Value index will be released on Monday and it will indicate if the new peak was maintained.
In a continuation of the trend this year the number of homes listed for auction this week is 25% higher than the 984 this time last year. It is also the highest for this weekend on record.
The highest volume of auctions is in <a target="_blank" href="/news">South Yarra</a> with 21. There are 19 scheduled in <a target="_blank" href="/news">Port Melbourne</a>, <a target="_blank" href="/news">Reservoir</a> and <a target="_blank" href="/news">Richmond</a>.
Key data
<ul>
<li>
Clearance rate week ending February 23: 73.5%
</li>
<li>
Melbourne auctions expected week ending March 2: 1228
</li>
<li>
Melbourne private sales time on market week ending February 23: 64 days (houses)
</li>
<li>
Melbourne vendor discounting market week ending February 23: -5.6% (houses)
</li>
<li>
Listings being prepared for market are 4.5% higher in month ending February 23
</li>
</ul>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
                               
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Buyers need to take strong results into account: RP Data's Melbourne weekend auction preview

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Anthony Nicholls, from Mitcham, Victoria will stand trial in the Victorian County Court next year for allegedly obtaining more than $2.6 million of funds from investors by deception in his role as director of Peton Properties and Zantholls International Pty Ltd between 2004 and 2006.
In 2007, Peton Properties went into liquidation. It owed creditors more than $4 million.
After a week-long committal hearing in the Melbourne Magistrates Court, 61 year old Nicholls has been told to stand trial on 11 May 2015, with the expected length of the trial being three months.
Charged with 113 counts of breaching his duties as director, three counts of making false and misleading statements, 19 counts of obtaining a financial advantage by deception and one count of obtaining property by deception, he has pleaded not guilty. Each of the 113 charges carries a maximum penalty of five years jail, or a $220,000 fine, with each of the misleading and false statements carry 10 years jail or $495,000 in fines.
About 20 people suffered losses, after investing $2.68 million with the companies. The money was going to be used to fund Ballarat developments, however ASIC alleges that the developments were unable to be developed in the manner nor in the timeframe described.
They also allege that Nicholls authorised a $1,806,000 withdrawal from a Peton Properties bank account and a solicitors’ trust account for use for his own benefit and that of co-director Peter Scully, financial obligations of another related company The Key Result Pty Ltd and interest payments due to existing investors.
The Key Result Pty Ltd trademarked the term “THE KEY RESULT UNLOCK YOUR FUTURE”. According to Consumer Action Law Centre, the company promoted a form of rent-to-buy arrangement that included a personal savings plan and budgeting service.
<img src="/images/stories/2014/02/27/key_result.jpg" alt="key_result" style="display: block; margin-left: auto; margin-right: auto;" height="139" width="150">
Logo for The Key Result Pty Ltd
“As well as facilitating the entry of a prospective purchaser into a rent-to-buy arrangement with a third party investor, The Key Result Pty Ltd provided staff who would not only oversee the day-to-day spending of a prospective purchaser, but would in fact exclusively control his or her bank account,” Consumer Action notes.
They note that many were placed in extreme financial hardship through the scheme, being forced to reduce spending to an extent to be able to afford rental and purchase option payments on properties they were unable to afford. The Key Result Pty Ltd is no longer operating.
The Key Result Pty Ltd's director Peter Scully (aforementioned co-director of Peton Properties) was also director of Active Property Solutions Pty Ltd, and has seen Consumer Affairs Victoria allege that they brokered deals that the buyers could not afford, according to <a target="_blank" href="https://www.heraldsun.com.au/news/victoria/deception-on-homes-alleged/story-e6frf7kx-1111115491611">The Herald Sun</a> back in 2008. The <a target="_blank" href="https://www.propertyobserver.com.au/https://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/vic/VSC/2012/444?stem=0&amp;synonyms=0&amp;query=Director%20of%20Consumer%20Affairs%20Victoria%20v%20Scully">outcome of the case can be read here</a>. The schemes, aimed at first time buyers, were advertised in the Gippsland and Doveton areas, as well as in the Geelong Advertiser newspaper.
The court transcript suggests that advertisements read along the lines of:
WHY ARE YOU PAYING RENT? 
$750pw net combined or single income gets you your own home at competitive rates 
As well as:
DOES THIS SOUND LIKE YOU? 
First home buyer?
Employed or Self Employed?
Tired of Renting?
Knocked back for finance?
But desperately want to
OWN YOUR OWN HOME?
We can HELP with...
LOW deposit finance
Easy qualifying
Bad credit history – No worries
Want to know more? Ring NOW
*Conditions apply
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
             
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Peton Properties director on trial for obtaining $2.6 million of funds by deception 

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A property in Melbourne’s Docklands has been acquired by Little Projects for $18.5 million from a local private investor, confirmed managing director of Little Projects, Michael Fox.
The 8,800 square metre industrial site at 85 Lorimer Street has the potential to have up to 1,500 apartments built, fitting Little Projects’ style of industrial site redevelopment.
Top-end luxury four-bedroom two-bathroom units on Lorimer Street have been known to sell for over $1,250,000. Next door at 80 Lorimer Street, <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-docklands-107445548">four-bedroom three-bathroom three car space unit number 2601</a> (pictured below) is on the market for $1,695,000 in Mirvac's tower, with two-bedroom offerings around $780,000. The tower has a health club, heated indoor lap pool, spa, sauna, steam room, fully equipped gymnasium and roof top decking.
{yoogallery src=[images/stories/2014/02/27/dock]}
The current median price for Docklands units sits at $593,063 with the median price for those over $750,000 being $1,045,000.
It remains to be seen what Little Projects will pull out of the bag for this site, but if their previous offerings are anything to go by, such as <a target="_blank" href="https://www.propertyobserver.com.au/victoria/developer-offers-olive-branch-after-selling-out-south-yarra-development/2013031259839">ILK at South Yarra</a> (pictured below), it is likely that the development will have luxury top-end appeal with an emphasis on amenity.
{yoogallery src=[images/stories/2013/08/aug29south]}
“Little Projects focuses on providing high quality lifestyle developments on Melbourne’s inner city fringe and this site offers us the opportunity to create something unique for Melbourne,” said Fox.
They have begun the planning process for this new site, with plans to be revealed at an as-yet unspecified date.
“We look forward to working with the Minister’s office and the new Metropolitan Planning Authority to realise the Minister’s vision for the urban renewal of the Fishermans Bend precinct,” said Fox.
The site is located closed to the Mad Duck Café and Papillon Day Spa, as well as close to the Yarra River, West Gate Freeway and Point Park.
The sale was completed by Lemon Baxter director, Paul O’Sullivan, who also sold 2-4 Princes Street for $4.8 million to a local investor.
<a target="_blank" href="/news">Docklands</a> has been making headlines lately, and the suggestion is currently that the area is finally <a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-finding-its-feet-after-a-difficult-conception/2013101065628">finding its feet after a difficult conception</a>.
Recently, planning minister Matthew Guy said that a new intersection created for the area – at <a target="_blank" href="https://www.propertyobserver.com.au/victoria/largest-urban-renewal-project-in-australia-to-become-the-new-heart-of-melbourne-planning-minister/2014022367981">Collins Street and Bourke Street – would become the new “heart of Melbourne”</a>.
jduke@propertyobserver.com.au
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>. 
              
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Up to 1,500 more apartments coming online as Little Projects acquires new Docklands site

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In September 2012, five Melbourne hotspots were tipped by Advantage Property Consulting’s managing director Frank Valentic, for Property Observer. He explained his reasoning and the type of property he'd look to purchase in each area.
We’re now nearing the end of February 2014, and we’re turning our attention back to these hotspots to see how they performed over the past year and a half.
You can read <a target="_blank" href="https://www.propertyobserver.com.au/victoria/five-potential-melbourne-hotspot-suburbs-frank-valentic/2012090456137">the original predictions from 2012 in this article here</a>.
The five suburbs picked: Thornbury Spotswood/Newport Box Hill South Yarra Frankston
The reasoning: Valentic explains that he aims for the more affordable areas that allow more people to access the properties. He wrote that “A hotspot can best be described as an area that has not attracted the same level of attention as traditional blue-chip locations. They are often identified as areas that are underperforming, usually within close proximity to more popular suburbs.  When an area becomes too expensive for people to afford, they usually move to these neighbouring suburbs that are more affordable, causing a positive outward ripple effect.”
It is this ripple effect that had him picking many of the below suburbs.
These were his predictions:
1. <a target="_blank" href="/news">Thornbury</a>
Thornbury has shown an impressive 21% growth per annum over the last 22 years.  Units and flats are still very affordable with an average median price of $432,000.  Located just seven kilometres north-east of the CBD, it has easy access to transport, an attractive lifestyle vibe and is very family friendly. The ripple effect from more expensive suburbs such as Northcote, Fitzroy and Carlton has caused Thornbury to become a more financially viable and affordable alternative. It has all the right features and qualities of a prime suburb, making this an ideal entry-level suburb for first-home buyers and investors.
2. <a target="_blank" href="/news">Spotswood</a>/<a target="_blank" href="/news">Newport</a>
Positioned just seven kilometres west of Melbourne’s CBD, both Spotswood and Newport have shown steady growth of 14% per annum growth over the last 22 years.  It is one of the few affordable inner-city suburbs left in Melbourne. Apartments and flats are still available well below the $535,000 median. It has very good transport connections to the CBD, with a new multi-line train station, nearby Westgate Freeway, Western Ring Road and City Link arterials. Neighbouring satellite city of Footscray is close by.  You can still find older-style cottages on good- sized blocks, proving popular with first-home buyers and investors.
The ripple effect from wealthier suburbs such as Williamstown and Yarraville has caused both Newport and Spotswood to become future hotspots.
3. <a target="_blank" href="/news">Box Hill</a>
The ripple effect from Camberwell and Surrey Hills has put Box Hill in a good affordability category. The median price for units and apartments is still relatively affordable at $467K.   Located 14km east of the CBD, it is a major commercial centre and transport hub.  It has excellent access to Maroondah Highway and is home to the local Box Hill Hospital.  In addition to all the wonderful amenities, it is also a growing satellite city with the local council introducing further relaxed planning controls to help promote and build medium density development.
4. <a target="_blank" href="/news">South Yarra</a>
The reason why we have chosen to include the inner “blue-chip” suburb of South Yarra is that prices have fallen considerably.  You can now buy one-bedroom apartments well under its median price of $620,000. This holds great appeal to those seeking an affordable entry in to a highly desirable location. Located just three kilometres south-east of the CBD, you can’t go wrong with the close proximity to trendy Chapel Street and Toorak Road.  Established infrastructure such as The Alfred Hospital and Swinburne University are also nearby.
5. <a target="_blank" href="/news">Frankston</a> 
Located 41 kilometres south of the CBD, Frankston is slowly becoming a major commercial, retail, educational and transport centre. This satellite city will have the Peninsula Link opening in early 2013.  As a result, you will see travel time cut by up to 40 minutes between Carrum Downs and Safety Beach.  The median price for a home is super affordable at $350,000, and apartments can be purchased at less than  $270,000.  Close to the beach, the future development of a local marina will also add significant value to the area.  The ripple effect from neighbouring Mount Eliza and popular Mornington Peninsula suburbs (Portsea, Sorrento and Flinders) is offering potential buyers a much more affordable option.
See over page for how they stacked up
 
 


<hr class="system-pagebreak">
  
How did the five hotspots perform... 
 1) <a target="_blank" href="/news">Thornbury</a>
<ol></ol>
In Thornbury, units performed at 14% median price growth – a great result. Although they didn’t bring in the 21% growth that he cited they had seen per annum previously, the area clearly stacked up as he had predicted.
He was also wise to select units over houses as, according to RP Data, houses saw a 3.8% uptick – far overshadowed by the result from the units. Median asking rent currently sits at $300, a 3.6% yield.
2) <a target="_blank" href="/news">Spotswood</a>/<a target="_blank" href="/news">Newport</a>
Valentic pointed to the availability of apartments and flats well below the median price, but pointed to older-style cottages on good-sized blocks as where popular purchasing is to be had. Interestingly, units in Spotswood increased by 1.7%, and in Newport actually dropped in median price by 4.6%, where houses in both performed strongly – at 4.2% and 11.2% respectively.
3. <a target="_blank" href="/news">Box Hill</a>
Pointing to a ripple effect from Camberwell and Surrey Hills, his suggestion for units and apartments that have remained affordable is a successful one, with a significant 15.6% increase. He pointed to relaxed planning controls, promoting and allowing medium density development as something that would encourage this, as well as its position as a commercial centre and transport hub.
Houses in the area, which he did not suggest, did not fare particularly well – dropping 6.5% in median price over this time.
4. <a target="_blank" href="/news">South Yarra</a> 
Inner “blue-chip” South Yarra, where Valentic said prices had fallen dramatically, there was a 2% overall uptick for units. A quick comparison of the noted one-bedroom units listed currently, compared to those that sold in February 2012, do suggest that the increase was more marked among this type of stock – however, it can be a tricky assessment to make due to the large number of pricier new apartments in South Yarra.
Houses in the area, which sit above the million dollar price mark and therefore did not fit the criteria, saw a whopping 28.5% increase.
5. <a target="_blank" href="/news">Frankston</a>
Frankston’s performance was a little lacklustre. It saw a 1.2% uptick for houses and a 2.4% uptick for units. Valentic suggested both due to the early-2013 Peninsula Link opening that was set to cut down travel time, as well as the future development of a local marina and the ripple effect from neighbouring suburbs. It will be interesting to see whether this pans out to see stronger growth.
You can read <a target="_blank" href="https://www.propertyobserver.com.au/victoria/five-potential-melbourne-hotspot-suburbs-frank-valentic/2012090456137">his thoughts here around the strategy of picking suburbs that will perform</a>.
Whose picks would you like us to take a look at? jduke@propertyobserver.com.au
 
 
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Analysis: Five expert-chosen 2012 Melbourne hotspots under the microscope

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Cold-press juice offering company, Pressed Juices, has continued its expansion across Melbourne, this time signing an eight year lease in the CBD. 
The 10 Howey Place deal was negotiated at $3,000 per square metres for the 20 square metre boutique site on the laneway off Little Collins Street. 
<img alt="melbourne_feb_27_one" height="353" width="470" src="/images/stories/2014/02/26/melbourne_feb_27_one.jpg">
The deal follows a recent letting by Pressed Juices at South Yarra and represents the company's sixth site in the Garden State. Nationally, it has nine sites. 
Fitzroys City retail leasing executive, Michael Rainey, said the deal with Pressed Juices is a product of the resurgence in leasing enquiry currently seen throughout Melbourne.
“We’re seeing businesses again looking to further expand their presence,” said Rainey.
Fitzroys' city retail team negotiated the lease.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
            
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Pressed Juice to squeeze into boutique site off Little Collins Street

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Strong bidding from residential homeowners, hostel operators and developers saw a former hostel in Melbourne's Fitzroy sell under the hammer for $1.704 million.  
The expansive Victorian terrace home, features six-bedrooms, three-bathrooms and offered 330 square metres of space on 285 square metres of land. 
For more than 20 years, the 66 George Street property was home to AHL George Wright Shelter. 
It was sold with vacant possession to a local private investor. 
Colliers International’s Ted Dwyer and Andrew Ryan were the selling agents. 
“The property provides an opportunity for someone to turn it into a lavish residential home, but also to continue its use as a hostel or other form of accommodation, or another form of residential development (STCA),” said Mr Ryan.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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