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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Melbourne-based Impact Investment Group has outlaid $32 million to acquire the global headquarters of Roy Morgan Research in Melbourne's CBD.
The fully leased building, at 401 Collins Street, was sold on an initial net yield of 7.81%.
Roy Morgan Research occupies the entire building and will enter into a 10 year lease with Impact Investment Group (IIG) with two five year options.
Located in the heart of the Melbourne's CBD banking and finance district, the 11-storey office building was built in 1937 for the Trustees Executors &amp; Agency and underwent significant improvements in 2007.
IIG said it acquired the building with a strategy to dramatically improve the overall energy performance of the property, which currently has a NABERS Rating of 1.5. It is targeting a NABERS rating of 4 or greater.
The asset will be held in a single property unlisted investment trust.
"The trust aims to provide sophisticated and wholesale investors the opportunity to benefit from the secure, long term income stream and the potential for capital growth, while benefitting from the environmental and social initiatives of IIG", said the group.
IIG’s sophisticated and wholesale investors are forecast to receive quarterly income returns of about 9% a year.
Since its inception in early 2013, IIG has arranged and co-invested in four investment syndicates. The 401 Collins property is the fifth for IIG, which is owned by Chris Lock - chief executive - and Small Giants, the family office of Daniel Almagor and Berry Liberman.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
                
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kjiminez-eaYKfU7qd2

Impact Investment Group purchases Melbourne CBD office building for $32 million

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Currently, Melbourne’s median house price was $610,000 based on sales in the December quarter. Naturally, this captures a lot of attention, however, it’s worth remembering that there are lot of houses that sell for a lot more affordable prices.
Over the past year, just under 30% of all houses in Melbourne sold for less than $400,000.
The suburbs which recorded the highest of these affordable sales were in the growth areas; <a target="_blank" href="/news">Pakenham</a>, <a target="_blank" href="/news">Frankston</a>, <a target="_blank" href="/news">Craigieburn</a>, <a target="_blank" href="/news">Hoppers Crossing</a>, <a target="_blank" href="/news">Werribee</a>, <a target="_blank" href="/news">Sunbury</a> and <a target="_parent" href="/news">Carrum Downs</a>. Land is less valuable in these areas due to the distance from the CBD and its availability. These factors allow developers to bring houses onto the market at more affordable prices.
It is interesting to note that there are a number of suburbs within 15 kilometre radius of the CBD where more than 50% of sales were below $400,000. These are: <a target="_blank" href="/news">Sunshine West</a>, <a target="_blank" href="/news">Sunshine North</a>, <a target="_blank" href="/news">Broadmeadows</a>, <a target="_blank" href="/news">Ardeer</a> and <a target="_blank" href="/news">Tullamarine</a>.
<a target="_blank" href="/news">Glenroy</a>, <a target="_blank" href="/news">Reservoir</a>, <a target="_blank" href="/news">Fawkner</a> and <a target="_blank" href="/news">Sunshine</a> also has reasonable proportions of sales for under $400,000.
Surprisingly, around one in 10 sales in <a target="_blank" href="/news">Pascoe Vale</a>, <a target="_blank" href="/news">Box Hill</a> and <a target="_blank" href="/news">Footscray</a> are under $400,000.  While that may not be the predominate sales price, this result does show that with some dedicated house hunting it is possible to buy a house at an affordable price within 15 kilometres of the CBD.
It would be rare to find a house under $400,000 and within 10 kilometres radius of the CBD. <a target="_blank" href="/news">Footscray</a> has the highest at 10%. Most other suburbs within 10 kilometres of the CBD have less than 5% such as <a target="_blank" href="/news">Coburg</a> where there were only 12 sales were under $400,000.
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

Where can you still find affordable housing in Melbourne?

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Built by Canny Builders with resort style living in mind, the four year old award winning <a href="/news">Canterbury</a> contemporary residence of Lynette and Alan Knights was sold post-auction on Saturday afternoon.
The vendors were seeking $3 million plus for the <a href="https://www.jelliscraig.com.au/property/CANTERBURY-1-Dryden-Street/6620833/#.Uwu-bOOSx8E" target="_blank">1 Dryden Street</a> offering listed through Kay &amp; Burton agent Scott Patterson in conjunction with Jellis Craig agent Paul Williamson.
James Buyer Advocates reported auction bidding began with a $3 million vendor bid. With three in the race, bidding got to $3.25 million when the agents went inside to seek instructions from their vendor.
A subsequent fresh bidder offered $10,000 helping the bidding along until the property was passed in at $3.3 million.
It was bought soon after auction for an undisclosed higher amount. Alan Knights recently retired from the position of chief financial officer with silver mining company Cobar Consolidated Resources.
<a href="mailto:news@propertyobserver.com.au" target="_blank"></a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
        
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jchancellor-FAypfDUnLy

Four bidders in $3.3 million plus contemporary Canterbury sale

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Melbourne live music icon <a href="https://www.smartcompany.com.au/finance/wealth-management/33435-rich-tales-the-longest-pub-crawl" target="_blank">The Esplanade Hotel is up for sale</a>, with the venue expected to be sold for millions.
Commonly known as “The Espy” to Melburnians, the local haunt is up for grabs through Jones Lang LaSalle, but the owners are keen to retain the freehold title to the venue.
If the current owners retain the freehold title they will keep the land title, but the new owners will own the venue and the income.
<img alt="the-espy-feb-19-breakotu" height="264" width="470" src="/images/stories/2014/02/26/the-espy-feb-19-breakotu.jpg">
The venue, located on the St Kilda foreshore, is expected to be worth over $5 million, according to Fairfax Media reports.
A long-term lease is on offer for the successful buyer.
A site of controversy
The pub is one of Australia’s longest running live music venues, but was the centre of controversy in late 1990s and the early 2000s as notable property figure Max Beck and later the company he chaired, Becton Group, tried to take over the operations.
Becton Group wanted to turn the site into a residential housing complex, but the plans were met with community objection, with a petition against the plans receiving thousands of signatures.
Early life
Prior to the opening of The Esplanade Hotel, the site had been the home of the New Bath Hotel in 1857 as a resort hotel.
The venue now known as The Esplanade Hotel wasn’t opened on the site until 1878 and since its construction has always been a host of live music events.
Music history
In the 1920s it changed from being exclusively a residential location for the wealthy to incorporate entertainment for the middle classes.
Between 1920 and 1925 it became an important jazz venue in what was Melbourne’s main entertainment destination at the time.
Its reputation as a premium live music venue was firmly established throughout this time and has since progressed through a range of music genres from swing to punk and grunge.
Famous faces
The hotel has attracted a number of famous musicians and Paul Kelly recorded his album Live at the Continental Esplanade at the hotel in 1995.
SBS trivia show RocKwiz has also been filmed since 2005 in The Espy’s Gershwin Room.
In the hotel’s early days famed Australian entrepreneur Alfred Felton is said to have stayed at the Espy between 1892 until he died in 1904.
While it was in use as a resort, famous author Mark Twain also visited the hotel in the 1880s and is thought to have stayed there under his real name, Samuel Clements.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
              
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yredrup-o4Anfe78KF

The Espy Hotel up for sale: Four things you didn’t know about the Melbourne landmark

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Crown Resorts has purchased the prestigious Capital Golf Club from Melbourne porperty developer Lloyd Williams for $67.6 million.
The course, considered one of the best in Australia, is in Melbourne’s south-east at Heatherton.
It is mostly frequented by Crown high-rollers, tucked away near Moorabbin behind massive wrought-iron gates. It was a par 72 course when it opened in 1997.
The 120-hectare golfing playground was reportedly modelled on the private desert golf course of the owner of the Las Vegas Mirage Casino, Steve Wynn.
Lloyd Williams’s private company, Hudson Conway, built Capital in the 1990s at an estimated $50 million cost. It has been the desire of Crown to own it outright for almost two decades.
The outright purchase was revealed in Crown’s latest results. It had been leased from the late 1990s at around $5 million a year under a leasing deal with Crown which gained an exclusive corporate membership share in Capital for around $36 million.
With a $12 million clubhouse, the course was designed by champion golfer Peter Thompson.
Lloyd Williams, a long-time friend of the Packer family, is often involved in high-rolling property deals. He recently indicated his Mount Macedon property was for sale as horse racing operations are set to relocate the Mornington Peninsula.
<a href="https://www.propertyobserver.com.au/rural/lloyd-williams-seeking-20-million-for-macedon-lodge-racehorse-facility/2014020567538" target="_blank">The Macedon Lodge is set for sale with $20 million hopes.</a>
He also sold <a href="https://www.propertyobserver.com.au/commercial/the-block-albert-park-warehouse-price-appreciation-in-history/2013080763873" target="_blank">the warehouse featuring in The Block</a> to the Channel 9 series production company. 
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
     
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Lloyd Williams sells Capital Golf Club to Crown Resorts for its casino high-rollers

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It was marketed by Glen Coutinho of RT Edgar Boroondara as a home inspired by the Hungarian architecture of Visegrád Palace.
<a href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2547467&amp;agentID=3864&amp;realestate=29_Munro_Street_KEW_EAST_VIC_3102&amp;showGoBack=true" target="_blank">The Kew East home</a> was sold at weekend auction for $2.815 million with six bidders.
When the bidding got to $2,780,000, the next bidder put it on the market with the fresh sixth bidder stepping up.
James Buyer Advocates said it was knocked down to one of the original bidders.
The 29 Munro Street block had been bought for $1.275 million in late 2012.
Visegrád Palace (pictured below) is situated north-west of the Hungarian capital of Budapest on the banks of the Danube River.
{yoogallery src=[images/stories/2014/02/25/vis]}
Source: WikiCommons
{module Do you see the Visegrád Palace inspiration?}
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
     
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Kew East home inspired by the Hungarian architecture of Visegrád Palace

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An iconic new intersection has been created for the Docklands area at Collins Street and Bourke Street, and it may become the new “heart of Melbourne,” according to Planning Minister Matthew Guy.
Opening the development last week, Guy noted that it is an important milestone for both Melbourne and for <a target="_blank" href="/news">Docklands</a>, calling it a “new heart” for both.
“Bringing two of the city’s most important streets together for the first time at this new intersection represents a significant historical moment for Melbourne,” Guy said.
This could be a crucial step in the defining of Docklands’ future, an area that has been criticised over its planning and implementation in the past. Property Observer took a tour around the area in October, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-finding-its-feet-after-a-difficult-conception/2013101065628">finding that there may be a strong future ahead for the precinct upon completion in 2025 after a “difficult conception”</a> after an estimated $17.5 billion of private sector investment.
The development, and Collins Street extension, is a partnership with the City of Melbourne, Places Victoria and Lend Lease. The Collins Street extension, a $21.5 million capital cost project, also includes $3.5 million of tram infrastructure work. This has added 1,200 extra services per week to the Docklands tram timetable.
“This new intersection is indicative of the infrastructure the State Government and City of Melbourne have provided for the growing Docklands community. More than $1 billion worth of development is currently underway in the area, making it by far the largest urban renewal project under construction in Australia,” Mr Guy said.
The intersection has been opened to pave the way for Dock Square, set to open in early-April, a 3,500 square metre open space in Docklands.
“The $63 million civic precinct will be an outstanding addition to our city incorporating Dock Square, the Library at the Dock and the Family Services and Boating Hub that will get underway later this year,” he said. He previously foreshadowed the importance of Dock Square when announcing <a target="_blank" href="https://www.propertyobserver.com.au/victoria/a-%24300-million-hotel-and-apartment-complex-to-grace-docklands/2013102165853">The Altus, a $300 million hotel and apartment complex</a> to be built on the corner of the Harbour Esplanade and Dudley Street.
Guy co-announced the intersection with Lord Mayor Robert Doyle, who said that few could have dreamed of this development.
“The opening of this new intersection not only brings together two of our most iconic streets, but creates a unique meeting places in the heart of Docklands,” said Doyle.
For those interested in Docklands, here are <a target="_blank" href="https://www.propertyobserver.com.au/developments/five-of-the-biggest-docklands-developments/2013101465705">five residential developments shaping the future of the area</a>.
jduke@propertyobserver.com.au
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jduke-EHk3XBmHkn

Largest urban renewal project in Australia to become the new heart of Melbourne: Planning Minister

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A preliminary auction clearance rate of 79% was reached from 1,147 auctions this week in Melbourne. This compares to 69.5% for the same time last year when there were around 19% fewer auctions.  
If the final result is similar to the preliminary one it will be the highest clearance rate since May 2010, a time when the market was also rising.  The strong demand recorded at auctions is not yet resulting in rising dwelling values over the month but the trend of the last year has not changed.  
The comparison with this time last year is illustrative and provides evidence of ongoing improvement in the market. More vendors have taken the chance to sell and they have largely been rewarded with a lift in the clearance rate.  
It is interesting to note that the rise in auction volumes is not representative of the overall level of activity with new listings at the same level as last year and suggests an increased use of auctions.  
Vendor discounting was higher for houses, at -5.6% compared to units at -5.3%.
Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>.
    
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The highest clearance rate for nearly four years: RP Data's Melbourne weekend auction analysis

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Australian Property Monitors (APM) has released a list of results from 798 auctions in Melbourne for the weekend of  February 22. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
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po-LsXgBTHBmX

APM's Melbourne auction results for February 22 weekend

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Based on rental advertisements*, the easiest place to find a rental home in Melbourne is in the inner city or inner south-east. 
<a href="/news">Melbourne</a>, <a href="/news">St Kilda</a>, <a href="/news">South Yarra</a>, <a href="/news">Southbank</a> and <a href="/news">Docklands</a> have each seen well over 1,000 units advertised for rent in the past year. The central suburb of Melbourne recorded just over 4,000.
The high prevalence of medium and high-rise units for rent in the inner city is a reflection of the role investors have played in supporting the growth of these markets.
It is quite remarkable to think that only twenty years ago the inner suburbs or Melbourne, Docklands and Southbank either did not exist or had very few houses for rent.
It is also interesting that in those suburbs the median advertised rent is well above the median for Melbourne which was $392 per week. In the suburb of Melbourne the median rent was $450 per week, in Southbank it was $530 and $540 in Docklands.
The suburb with the highest volume of houses advertised for rent was Frankston where the median advertised rent was $310 per week. This is well below the comparable number for the metropolitan area of $438.
Many  other suburbs with high numbers of rental houses are also affordable, excluding Richmond which is ranked 4th by number of houses for rent but has a very high median advertised rent of $580 per week. This market will be driven by the demand for houses close to the CBD.
Top five suburbs ranked by number of houses advertised for rent
<a href="/news">Frankston</a>
<a href="/news">Pakenham</a>
<a href="/news">Reservoir</a>
<a href="/news">Richmond</a>
<a href="/news">Point Cook</a>
Top five suburbs ranked by number of units advertised for rent
<a target="_blank" href="/news">Melbourne</a> 
<a target="_blank" href="/news">St Kilda</a> 
<a target="_blank" href="/news">South Yarra</a> 
<a target="_blank" href="/news">Southbank</a>
<a target="_blank" href="/news"></a><a target="_blank" href="/news">Docklands</a>
* Rental observations are based on rental advertisements. These counts have been de-duplicated and rental advertisements are only counted when they can be physically matched to a property in our database.
Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>.
 
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