Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

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The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

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Joel Robinson

Construction to commence at luxury Glen Iris townhome project, Orchard Mews

A rare new apartment development has been proposed on the fringe of St Ives Village.

Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.

The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" />

“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.

“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”

Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.

The proposal would replace two single-storey brick buildings currently on the site.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" />

St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.

More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.

NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;

&nbsp;

&nbsp;

First look: NewQuest Property proposes new St Ives apartment development

<a href="https://www.apartments.com.au/developers/centa-property-group">Centa Property Group</a> has achieved two major milestones at its <a href="https://www.apartments.com.au/new-apartments/bilinga-house-107-golden-four-drive-bilinga-qld-4225">Bilinga House</a> apartment development in the sought-after southern Gold Coast.

They've almost sold 50 per cent of the Golden Four Drive building, while at the same time announcing the commencement of construction through reputable builder Greyburn Construction.

The boutique 10-storey building, with 47 two- and three-bedroom apartments, now has a mid-to-late 2028 completion date.

[smartcode_project:default project_id=150037 project_image_fid=5333]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed project is positioned just 200 metres from Bilinga Beach and brings a relatively rare apartment offering to a market that has seen limited new supply in recent years.

Residences have been designed to maximise natural light and ventilation, with open-plan interiors, generous glazing, and material palettes that reflect the surrounding coastal landscape.

Interiors incorporate engineered timber flooring, stone benchtops, and custom joinery, with layouts designed to adapt to both permanent living and lock-and-leave use.

[smartcode_project:default project_id=150037 project_image_fid=5336]

Rothelowman Senior Project Leader Matthew Tencate said the design approach centres on liveability and community.

“Providing curated on-site amenities and communal spaces for residents that facilitate a sense of community, liveability, and wellness,” Tencate said.

Residents will have access to a suite of private amenities including a pool, gym, sauna, and communal alfresco areas, alongside practical features such as surfboard storage and bicycle facilities.

[smartcode_project:default project_id=150037 project_image_fid=5336]

Centa Property Group Director Jason Yuen said the project has been designed to appeal to a range of buyers seeking flexibility in how they use their property.

“Bilinga House is designed for those who want the best of both worlds – a modern beachside escape with the flexibility to generate income when you're not there,” Yuen said.

[smartcode_project:default project_id=150037 project_image_fid=5338]

Bilinga remains one of the quieter pockets of the Gold Coast, sitting between the more established hubs of Coolangatta and Palm Beach. Its appeal has strengthened in recent years, supported by proximity to the Gold Coast Airport and the Oceanway coastal path.

[smartcode_project_cta:default project_id=150037]

Bilinga House apartments snapped up as Greyburn commences construction

Breaking into the Sydney property market has long felt out of reach for many first home buyers, particularly as median house prices sit above $1.6 million and unit prices push beyond $900,000.

But entry points still exist in pockets of Greater Western Sydney, where pricing, government incentives, and product mix are aligning to make ownership more attainable.

Understanding where those opportunities sit, and how the numbers actually stack up, is becoming increasingly important for buyers weighing up their next move.

<h2>Work out what you can actually afford</h2>

Sydney is expensive, but it isn’t uniformly expensive. The Greater Parramatta region continues to offer comparatively accessible entry points, particularly for buyers open to alternative configurations like studios.

There's an assumption that a first home needs to be a certain size, that anything smaller than a one-bedder is a concession rather than a choice. That assumption doesn't hold up against what well-designed studios in the right location actually offer: immediate liveability, strong urban amenity, and a price point that makes the deposit target realistic rather than theoretical.

At <a href="https://www.apartments.com.au/buildings/mason-main-merrylands-249-259-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>'s multi-award winning precinct in Merrylands, studio apartments are unlike the typical studio configuration.

Starting from $498,000, the bedroom is fully enclosed, separated from the living area by a cavity sliding door, creating a genuinely private sleeping space that functions more like a one-bedroom apartment than a traditional open-plan studio.

[smartcode_project:default project_id=31751 project_image_fid=359814]

At 42 sqm internally, with an open-plan kitchen, built-in robes, modern bathroom, and separate laundry, the apartments are designed for everyday liveability rather than short-term use.

With a five per cent deposit under the Federal Government's First Home Guarantee, that equates to a deposit of around $24,200, achievable for many first home buyers without the added cost of Lenders Mortgage Insurance.

<h2>Understand the real cost of renting versus buying</h2>

For buyers weighing up the shift from renting to owning, the numbers are closer than many expect.

Here’s how the numbers stack up for a studio at Mason &amp; Main (based on a $498,000 purchase):

<ul>
	<li>Purchase price: $498,000</li>
	<li>Five per cent deposit (First Home Guarantee): ~$24,900</li>
	<li>Loan amount: ~$473,100</li>
	<li>Estimated mortgage repayment (6.29% variable, 30-year term): ~$675–$695/week*</li>
	<li>Estimated rental return: $590–$620/week*</li>
	<li>Rental yield: 6.16% - 6.47%</li>
</ul>

At this level, the gap between renting and owning is relatively narrow, particularly when factoring in long-term equity, with rental returns also making the apartments a viable option for investors.

The rental range reflects current asking rents for remaining studio stock in the development and, based on prevailing asking prices, equates to an indicative gross rental yield of up to 6.47 per cent.

For buyers seeking more internal space, Mason &amp; Main also offers a range of one-bedroom apartments from $629,000, alongside larger one-bedroom plus multipurpose room configurations priced from $680,000 - all priced under $800,000 and eligible for first home buyer incentives.

<ul>
	<li>Purchase price: $629,000</li>
	<li>20 per cent deposit: ~$125,800 (5% deposit on exchange: $31,450)</li>
	<li>Loan amount 80%: ~$503,200</li>
	<li>Estimated mortgage repayment: ~$720–$740/week*</li>
	<li>Estimated rental return: $650–$680/week*</li>
	<li>Rental yield:&nbsp;5.37% - 5.62%</li>
</ul>

One-bedroom apartments continue to present a balanced option for both owner-occupiers and investors, supported by steady rental demand across Western Sydney.&nbsp;

[smartcode_project:default project_id=31751 project_image_fid=359812]

<h2>Make sure you're across the government incentives</h2>

Government incentives continue to play a key role in reducing the upfront cost barrier.

At Mason &amp; Main, studio, one, and two-bedroom apartments are priced under $800,000, allowing eligible buyers to access a full stamp duty exemption under the NSW First Home Buyers Assistance Scheme.

On a $498,000 purchase, that represents a saving of roughly $17,900 that would otherwise need to be paid at settlement.

Combined with the First Home Guarantee, which enables purchases with as little as a five per cent deposit, the total capital required to secure a home is significantly reduced compared to traditional lending pathways.

<h2>No waiting, no uncertainty</h2>

For first home buyers who want to move sooner rather than later, Mason &amp; Main removes one of the more common pain points from the purchase process entirely. The development is already complete and move-in ready, meaning buyers can walk through the apartments, inspect the finishes, and have full certainty about what they're purchasing before signing anything.

Coronation brought in renowned architecture firm <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> to design the development.&nbsp;

"The project's design drew inspiration from the area's rich heritage, in particular the nearby brickworks and aqueduct, infusing a contemporary perspective to seamlessly integrate historical influences into the design," Woods Bagot Principal Dom Alvaro says.

[smartcode_project:default project_id=31751 project_image_fid=736]

<h2>Factor in location and lifestyle</h2>

Beyond the apartment itself, the surrounding infrastructure matters, particularly for a first purchase. Merrylands Station sits 350 metres from the development, putting the Parramatta CBD a five-minute drive away and the Sydney CBD roughly 25 minutes via the Western Line. Directly across the road is Stockland <a href="https://www.apartments.com.au/developments/merrylands-nsw-2160">Merrylands</a>, one of Greater Western Sydney's major retail centres.

At street level, Mason &amp; Main's own retail and dining precinct has more than 30 tenants trading, including Iftar, Macelleria, Hayat, San Churro, Yuzu, and Fat Jaks. Residents also have access to a resort-style pool, a Technogym-equipped gym, private dining rooms, and a rooftop terrace with panoramic views across Parramatta, the Sydney CBD, and the Blue Mountains, all exclusive to the building.

Due to the mix of configurations, including studios which are rarely offered in today's new apartment market, first home buyers and investors have driven Mason &amp; Main to over 90 per cent sold.

Coronation Property Managing Director Joe Nahas says the development is driving a revitalisation of Merrylands, setting a high standard for future developments in the area.

Mason &amp; Main is move-in ready and is the latest in a series of award-winning mixed-use developments by Coronation Property.

Disclaimer: Mortgage repayment figures are estimates only, based on a 6.29 per cent variable rate over a 30-year term (Canstar, April 2026). Pricing and rental estimates are indicative and based on current listings and project information. Gross yield figures are indicative and derived from asking prices and estimated rental ranges. Stamp duty savings are indicative only. Buyers should seek independent financial and legal advice before proceeding.

[smartcode_project_cta:default project_id=31751]

How first home buyers can enter the Sydney property market for under $500k

Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.

In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.

Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.

Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.

At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.

[smartcode_project:default project_id=135149 project_image_fid=368392]

Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.

Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.

The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.

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“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.

“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.

Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.

SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.

“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.

“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”

Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.

That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.

One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.

“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.

“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”

For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.

“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”

Her terrace also supports a more connected, lifestyle-driven way of living.

“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”

Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.

Coronation champions terraces as a key piece of Sydney’s housing mix

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

<html><body>
Units in Melbourne's prestigious bayside suburbs are the state's most expensive, according to new data from the Real Estate Insitute of Victoria.
Brighton East tops the <a href="https://www.reiv.com.au/~/link.aspx?_id=4FF20028A7DB491F9728F6DB37B82EFD&amp;_z=z" target="_blank">REIV</a>'s top 20 most expensive suburbs for units list with a median unit sales price of $862,500 for the December 2013 quarter.
Surrounding suburbs saw high unit prices, with Brighton, Bentleigh East, Bentleigh and Hampton all in the list's top six. Predictably, unit prices in Toorak were also relatively expensive, with a median unit price of $760,000.
Brighton East has seen a number of new unit developments in recent years. This three bedroom, two bathroom apartment at the <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-10-200-dendy-street-brighton-east/Property-Details-buy-residential-5886497">200 Dendy Street</a> development is selling with a minimum asking price of $850,000.
{yoogallery src=[images/stories/2014/02/06/bri]}
 
A two bedroom apartment at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/3-133-thomas-street-brighton-east/Property-Details-buy-residential-6616371">3/133 Thomas Street</a> is selling well below the suburb's median, with vendors seeking $500-550,000.
{yoogallery src=[images/stories/2014/02/06/bri2]}
 
In the neighbouring Brighton, number two on REIV's list with a median unit price of $835,000, this first floor penthouse at <a href="https://www.realestateview.com.au/Real-Estate/101-380-bay-street-brighton/Property-Details-buy-residential-6628709" target="_blank">101/380 Bay Street</a> is expecting $825-875,000 at auction.
{yoogallery src=[images/stories/2014/02/06/bri3]}
 
The 10 most expensive suburbs for units, according to the REIV
<table border="0" cellpadding="0" cellspacing="0" style="width: 470px;">
<colgroup>
<col width="109">
<col width="190">
<col width="82">
<col width="98">
<col width="139">
<col width="161">
<col width="78">
</colgroup>
<tbody>
<tr height="20">
<td height="20" colspan="4" width="618">Note: Only suburbs where a minimum of 25 sales recorded in the quarter are included.</td>
</tr>
<tr height="41">
<td height="41" width="109">
<h3>Most Expensive</h3>
</td>
<td width="190">Suburb</td>
<td width="82">Dec-13 Median</td>
<td width="98">Quarterly Change</td>
</tr>
<tr height="20">
<td height="20" align="right">1</td>
<td>BRIGHTON EAST</td>
<td>$862,500</td>
<td>-0.3%</td>
</tr>
<tr height="20">
<td height="20" align="right">2</td>
<td>BRIGHTON</td>
<td>$835,000</td>
<td>0.6%</td>
</tr>
<tr height="20">
<td height="20" align="right">3</td>
<td>BENTLEIGH EAST</td>
<td>$765,000</td>
<td>8.7%</td>
</tr>
<tr height="20">
<td height="20" align="right">4</td>
<td>TOORAK</td>
<td>$760,000</td>
<td>2.0%</td>
</tr>
<tr height="20">
<td height="20" align="right">5</td>
<td>BENTLEIGH</td>
<td>$755,000</td>
<td>9.4%</td>
</tr>
<tr height="20">
<td height="20" align="right">6</td>
<td>HAMPTON</td>
<td>$737,250</td>
<td>-0.4%</td>
</tr>
<tr height="20">
<td height="20" align="right">7</td>
<td>PORT MELBOURNE</td>
<td>$727,750</td>
<td>2.7%</td>
</tr>
<tr height="20">
<td height="20" align="right">8</td>
<td>DONCASTER EAST</td>
<td>$720,000</td>
<td>9.7%</td>
</tr>
<tr height="20">
<td height="20" align="right">9</td>
<td>MALVERN EAST</td>
<td>$707,500</td>
<td>14.1%</td>
</tr>
<tr height="20">
<td height="20" align="right">10</td>
<td>CAULFIELD NORTH</td>
<td>$676,000</td>
<td>13.1%</td>
</tr>
<tr height="52">
<td height="52" width="109">Source: REIV</td>
<td width="190"> </td>
<td width="82"> </td>
<td width="98"> </td>
</tr>
</tbody>
</table>
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
</body></html>

jrichardson-uRX5hFdKfN

Brighton East most expensive Victorian suburb for units: REIV

<html><body>
A Sydney-based Chinese legal firm has purchased an entire floor strata office in Melbourne’s CBD legal precinct for $1.45 million, setting a building record.
The 14-level strata office building, 256 Queen Street, between Lonsdale and Little Lonsdale Street is in the heart of Melbourne’s legal precinct.
<img alt="1" height="353" width="470" src="/images/stories/2014/02/05/1.jpg">
Photo: 256 Queen Street, Melbourne
The CBRE city sales team, Tom Tuxworth, Chris Pharr and Ed Wright, sold the property on behalf of a local investor.
Senior manager at CBRE, Tuxworth, said that the office space was 288 square metres, putting the price at just over $5,000 per square metre. It is an unrefurbished space.
“Owners of strata office floors are now being alerted to the unprecedented pent up demand for owner occupiers to purchase and operate out of their own office floor as opposed to re-leasing in what is considered a soft leasing market,” said Tuxworth
“Activity within the Melbourne CBD strata office market has been exceptionally high over the past five months with offshore groups now joining mum and dad self-managed super fund (SMSF) investors in purchasing commercial office space.”
He said that the current low interest rate environment, along with depreciation and tax benefits, have made this type of property highly sought after in recent times.
The building is halfway between Melbourne Central and Flagstaff stations.
<a href="https://mce_host/jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au  </a>
</body></html>

jduke-EHk3XBmHkn

Melbourne office secures a record $1.45 million from Chinese legal firm buyer

<html><body>
Everyone tuning in to last night's The Block: Fans v Faves would have noticed that stress levels were high as the couples were surprised with the expectation of their floorplan to be turned in with around 24 hours notice.
However, some groups were more panicked than others. It seems there are some tried and tested skills that will keep even the most novice renovators in a better position.
We turn to the beautiful <a href="/news">Dux cinema in Melbourne's Albert Park that Property Observer previously reported on</a>, as the location of the latest challenge. Favourites, "Alisa and Lysandra" and "Brad and Dale" and fans "Chantelle and Steve" and "Kyal and Kara" have their work cut out on converting this space, while camping in the building, in 10 weeks.
You can <a href="https://www.jump-in.com.au/show/theblock/fans-v-faves/" target="_blank">catch up on episodes online</a>.
Here are the five lessons we learned from tuning in last night:
<blockquote>
Renovators should always look to plan ahead if they want to get the best results.
</blockquote>
1) Plan ahead
With ten weeks and an intense project to complete, there's no excuse for not planning ahead for this season's Blockheads. Similarly, renovators should always look to plan ahead if they want to get the best results.
The more you can have written down, prepared and scheduled, the better.
2) Communicate with your team (and choose them wisely)
In last night's episode, we saw some fairly excellent examples of teams working well together, as well as some easily-avoided situations where time was lost due to poor communication.
Our current favourite builder, Super Luke, is left without direction by Chantelle and Luke. While he does his best, they need to make decisions and precious time is being lost.
Similarly, when the surprise floor problem appears for Alisa and Lysandra, they become angry at their tradespeople. There's usually a better way than anger.
<blockquote>
Pick your team wisely and keep channels of conversation consistently open.
</blockquote>
Pick your team wisely and keep channels of conversation consistently open. Ensure to outline your expectations, the extent of the job (there was more than one surprised builder on The Block last night) and what to do if they're unsure.
3) Don't be afraid to spend time where it counts
Kyal, as a trained carpenter, decided to take on the task of making the stud walls - prompting all sorts of jokes about studs, both walls and otherwise, in the Twittersphere. Fair enough, however he is also tasked with finding the right tradespeople for the other jobs.
While he seemed to do a great job with the stud walls, it undoubtably took far longer than if he had focused on that task after or before starting on phoning around. Focus on one thing at a time, and be sure to prioritise tasks.
Similarly, when it comes to prioritising - don't feel that you need to do everything in groups. Sometimes, the most effective thing to do is split up. Too often, no one is left on site to collect deliveries (we certainly saw this last night from Kyal and Kara). A quick summit to discuss the style needed, and trusting your renovation partner, is surely a far quicker way to get the job done.
We definitely give a thumbs up to Kyal for getting his sleeves rolled up and using his skills. DIYing doesn't suit anyone, but it can certainly save you money when done well. 4) Adapt and evolve
What happens when you discover that your feature, a staircase leading up to a small office, is not going to be possible? Make a void instead. Kitchen Queens Alisa and Lysandra showed strength by adaptating at the last minute when their plans need to be changed.
Similarly, being able to evolve your ideas to the space you're in is certainly a skill that most renovators should be able to cultivate. We point to the particularly popular 'barn door' created by Chantelle and Steve.
Bad weather, particularly when you don't have a ceiling, is also going to be absolutely critical to negotiate.
5) Have a vision
When faced with an empty space, particularly like this where the ceilings, walls and floors are all open for any design, you need to be quick to come up with ideas. You will also need to be able to envision how the space will work very quickly. Vision here is absolutely crucial.
<blockquote>
You will also need to be able to envision how the space will work very quickly.
</blockquote>
Whether it's a pool, a cinema, or underfloor heating, or any of the other exciting aspects we're seeing the teams installing, the overall plan is just as important as the individual aspects. Those watching last night also suggested ideas such as a spa for the common space.
Remembering to be practical but to add the "wow factor" (another term we heard a lot) is going to be crucial.
What tips do you have from watching last night's The Block Fans v Faves?
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
</body></html>

Five renovation lessons from last night's The Block: Fans v Faves

<html><body>
Victoria’s Werribee Plaza Shopping Centre will see a $370 million redevelopment, according to the Pacific Group of Companies (PGOC) who have announced that they will provide these funds with construction underway.
The redevelopment, set to expand the Centre’s size by more than 35,000 square metres with fashion, fresh food, dining and entertainment precincts, will also see the plaza adopt a new name – ‘Pacific Werribee’.
It appears the plan is to reposition the plaza as the new premier retail destination of Melbourne’s western suburbs.
It is located in the Wyndham region, at the centre of the western corridor that has been experiencing significant population growth.
The development will include a two-level Myer store, Target store, 120 new shops and kiosks, a new fresh food precinct branded ‘Hunter &amp; Gatherer’ that will include a Woolworths and an ALDI, a Village Cinemas redevelopment with two new Gold Class Cinemas and 1,500 additional car parking space.
PGOC’s Graham Terry said that the development will be an asset for the rapidly growing area.
A new 10-bus terminal interchange, and outdoor al fresco restaurants and cafes will also be included.
Pacific Werribee will also be reclassified from being a ‘sub-regional’ centre to a Regional Shopping Centre due to the addition of the two-storey, 12,500 square metre Myer department store.
The key completion dates include the early-2014 opening of the bus terminal, early-2015 opening of the dining and entertainment precinct, mid-2015 opening of new Target and speciality stores, mid-2016 opening of the Myer and more speciality stories and late-2016 opening of the food precinct.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
</body></html>

$370 million boost for Melbourne's Werribee Plaza

<html><body>
The RP Data – Rismark Home Value Index for Melbourne houses reached a new nominal peak in January after a surprisingly strong 3.7% rise. The latest figures surpass the previous peak in October 2010.
The unit index recorded a more moderate 0.2% rise and reached an earlier peak in December 2013.
Not only was a new peak reached but Melbourne recorded the strongest growth of all capital cities. 
First home buyers are at all time lows; this market is being driven by upgraders and investors in the detached houses market and supported by low interest rates.
With very few auctions in January the rise is also a factor of houses sold through private sale, many of which will have been passed in at auction in December.
This current growth phase is being strongly supported by record low interest rates. Ongoing growth may however be moderated by lower consumer confidence in Melbourne.
It should be noted that the index can show natural volatility on a monthly basis as shown by the rises in September, December and now January against a background of reductions in October and November. However the trend is clear, with rises over the quarter and year.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
</body></html>

rlarocca-zWhvjay44N

Melbourne house values at new peak and leading the nation for growth

<html><body>Australian Property Monitors (APM) has released a list of results from 53 auctions in Melbourne for the weekend of  February 1. <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.</body></html>

po-LsXgBTHBmX

APM's Melbourne auction results for February 1 weekend

<html><body>
In a recent post I looked at the relative performance of Melbourne investment property from <a href="https://www.propertyobserver.com.au/victoria/melbourne-rental-increases-only-moderate-compared-to-sydney-and-yields-have-stabilised/2014012967390?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=ourobservers:adviceandanalysisforreaders" target="_blank">a rental yields perspective</a>.
Examining yields on a suburb basis provides an interesting metric for investors to consider; the best yields are actually found in the most affordable suburbs.
Of the 10 suburbs with the highest rental yield none have a median house value of more than $350,000.
<a href="/news">Dallas</a> and <a href="/news">Melton South</a> share an indicative yield of 5.7%, well above the city wide yield of 3.4%.
The other suburbs in the top 10 are <a href="/news">Meadow Heights</a>, Coolaroo, <a href="/news">Frankston North</a>, <a href="/news">Carrum Downs</a>, <a href="/news">Melton</a>, <a href="/news">Warburton</a>, <a href="/news">Hampton Park</a> and <a href="/news">Cranbourne West</a>.
At the other end of the spectrum the ten suburbs with the lowest yields, from 1.8 to 2.5% all have median house values in excess of a million dollars, <a href="/news">Portsea</a>, <a href="/news">Toorak</a>, Balwyn, <a href="/news">Kew</a>, <a href="/news">Eaglemont</a>, <a href="/news">Elsternwick</a>, <a href="/news">Canterbury</a>, <a href="/news">Balwyn North</a>, <a href="/news">Kew East</a> and <a href="/news">Caulfield North</a>.
It is interesting to note that while the same rule applies in the unit and apartment market there are a few notable exceptions, such as central <a href="/news">Melbourne</a>, which will be examined in a future post.
Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>.
 
</body></html>

Yield or capital gain: Investors face a stark decision

<html><body>
Median house values in the ritzy Melbourne suburb of Toorak jumped by 55.4% in a year, according to the latest data from the Real Estate Institute of Victoria (REIV).
This included a rise of 19.8% in the December 2013 quarter, to ensure its place as the top growth suburb for houses over 2013.
Of the top 20 growth suburbs listed by the <a rel="nofollow" target="_blank" href="https://www.reiv.com.au/~/link.aspx?_id=4FF20028A7DB491F9728F6DB37B82EFD&amp;_z=z" style="font-size: 14px;">REIV</a>, eleven recorded annual price growth for houses of over 25%; with Toorak, Donvale, Balwyn North, Hawthorn East and Wantrina South making up the top five.
The south-east Melbourne suburb of Prahran recorded the highest quarterly growth in house prices, with a median sales price of $1,155,000, up 25.7% over the December 2013 quarter.
Houses in Toorak sell in a wide price range and hence the median price can fluctuate depending on which end of the scale the sales data is predominately drawn from. For example a three bedroom house at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/19-ruabon-road-toorak/Property-Details-buy-residential-6604097">19 Ruabon Road</a> (pictured below) is currently on the market with price expectations between $820,000 to $900,000.
{yoogallery src=[images/stories/2014/02/10/too1]}
 
By comparison a five bedroom, four bathroom house at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/12-albany-road-toorak/Property-Details-buy-residential-2741329">12 Albany Road</a> (pictured below) is currently available for $11.5 million.
{yoogallery src=[images/stories/2014/02/10/too2]}
 
Top 10 growth suburbs (annual)
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top"></td>
<td width="204" valign="top">
Suburb
</td>
<td width="92" valign="top">
Dec-13 Median
</td>
<td width="92" valign="top">
Dec-12 Median
</td>
<td width="80" valign="top">
Annual Change
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
1
</td>
<td valign="top">
TOORAK
</td>
<td valign="top">
$2,875,000
</td>
<td valign="top">
$1,850,000
</td>
<td valign="top">
55.4%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
2
</td>
<td valign="top">
DONVALE
</td>
<td valign="top">
$960,500
</td>
<td valign="top">
$691,500
</td>
<td valign="top">
38.9%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
3
</td>
<td valign="top">
BALWYN NORTH
</td>
<td valign="top">
$1,355,000
</td>
<td valign="top">
$980,000
</td>
<td valign="top">
38.3%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
4
</td>
<td valign="top">
HAWTHORN EAST
</td>
<td valign="top">
$1,555,000
</td>
<td valign="top">
$1,132,500
</td>
<td valign="top">
37.3%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
5
</td>
<td valign="top">
WANTIRNA SOUTH
</td>
<td valign="top">
$690,000
</td>
<td valign="top">
$515,000
</td>
<td valign="top">
34.0%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
6
</td>
<td valign="top">
SURREY HILLS
</td>
<td valign="top">
$1,392,000
</td>
<td valign="top">
$1,049,000
</td>
<td valign="top">
32.7%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
7
</td>
<td valign="top">
ST KILDA EAST
</td>
<td valign="top">
$1,071,750
</td>
<td valign="top">
$822,500
</td>
<td valign="top">
30.3%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
8
</td>
<td valign="top">
WERRIBEE
</td>
<td valign="top">
$350,000
</td>
<td valign="top">
$273,500
</td>
<td valign="top">
28.0%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
9
</td>
<td valign="top">
PRAHRAN
</td>
<td valign="top">
$1,155,000
</td>
<td valign="top">
$908,000
</td>
<td valign="top">
27.2%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
10
</td>
<td valign="top">
RINGWOOD
</td>
<td valign="top">
$600,000
</td>
<td valign="top">
$477,000
</td>
<td valign="top">
25.8%
</td>
<td valign="top"></td>
</tr>
</tbody></table>
Top 10 growth suburbs quarterly on next page. Please click below.
 
<hr class="system-pagebreak">
Top 20 growth suburbs (quarterly)
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top"></td>
<td width="204" valign="top">
Suburb
</td>
<td width="92" valign="top">
Dec-13 Median
</td>
<td width="92" valign="top">
Sep-13 Median
</td>
<td width="80" valign="top">
Quarterly Change
</td>
</tr>
<tr>
<td valign="top">
1
</td>
<td valign="top">
PRAHRAN
</td>
<td valign="top">
$1,155,000
</td>
<td valign="top">
$918,500
</td>
<td valign="top">
25.7%
</td>
</tr>
<tr>
<td valign="top">
2
</td>
<td valign="top">
DONVALE
</td>
<td valign="top">
$960,500
</td>
<td valign="top">
$770,500
</td>
<td valign="top">
24.7%
</td>
</tr>
<tr>
<td valign="top">
3
</td>
<td valign="top">
FITZROY NORTH
</td>
<td valign="top">
$1,177,000
</td>
<td valign="top">
$952,500
</td>
<td valign="top">
23.6%
</td>
</tr>
<tr>
<td valign="top">
4
</td>
<td valign="top">
TOORAK
</td>
<td valign="top">
$2,875,000
</td>
<td valign="top">
$2,400,000
</td>
<td valign="top">
19.8%
</td>
</tr>
<tr>
<td valign="top">
5
</td>
<td valign="top">
WILLIAMSTOWN
</td>
<td valign="top">
$1,000,000
</td>
<td valign="top">
$840,000
</td>
<td valign="top">
19.0%
</td>
</tr>
<tr>
<td valign="top">
6
</td>
<td valign="top">
WANTIRNA SOUTH
</td>
<td valign="top">
$690,000
</td>
<td valign="top">
$580,000
</td>
<td valign="top">
19.0%
</td>
</tr>
<tr>
<td valign="top">
7
</td>
<td valign="top">
NORTHCOTE
</td>
<td valign="top">
$971,500
</td>
<td valign="top">
$841,000
</td>
<td valign="top">
15.5%
</td>
</tr>
<tr>
<td valign="top">
8
</td>
<td valign="top">
HAMPTON
</td>
<td valign="top">
$1,400,000
</td>
<td valign="top">
$1,227,500
</td>
<td valign="top">
14.1%
</td>
</tr>
<tr>
<td valign="top">
9
</td>
<td valign="top">
HAWTHORN
</td>
<td valign="top">
$1,686,000
</td>
<td valign="top">
$1,480,000
</td>
<td valign="top">
13.9%
</td>
</tr>
<tr>
<td valign="top">
10
</td>
<td valign="top">
MOUNT MARTHA
</td>
<td valign="top">
$688,000
</td>
<td valign="top">
$605,000
</td>
<td valign="top">
13.7%
</td>
</tr>
</tbody></table>
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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jake-cSmGT7VXVf

Toorak median house price up a whopping 55.4% over 2013, tops Melbourne growth suburbs: REIV

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This dilapidated home last sold for $15,000 in February 2011, and is now on the market for $20,000, a 25% increase in three years should it sell for its asking price. It's the cheapest we could find currently listed, with a detached house, and as such as us asking whether there's a Property Observer reader keen to have a look.
{yoogallery src=[images/stories/2014/01/29/kor]}
<a href="https://www.eldersrealestate.com.au/office/bendigo/residential/buy/property-house-vic-korong-vale-566293" target="_blank">124 Vernon Street, Korong Vale, Victoria</a> is on 990 square metres of land and offers us a fairly sketchy view through the listing photographs of what is actually inside of the “old derelict house”.
With a fireplace, bare floorboards, a water tank, and what looks like it may be a broken roof, it’s certainly one for doing up or rebuilding.
It’s a short drive from gold mining town Wedderburn and the Wychitella Forest Reserve, walking distance to a general store, children’s playground, golf course and local hotel, and is advertised towards “gold fossickers and nature lovers”.
<a href="/news">Korong Value</a> is about two and a half hours from Melbourne CBD and nearby to Lake Donald, a popular hunting ground.
It is listed with Elders Real Estate in Bendigo.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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The cheapest property currently on the market: A $20,000 home

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A judge has ruled against an appeal launched by Taras Pty Ltd, the former land owners of a plot that now houses part of the Victoria Gardens complex in Richmond, regarding an objection decision issued by the Commissioner of Taxation.
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YOU MIGHT ALSO WANT TO READ: <a target="_blank" href="https://www.propertyobserver.com.au/tax/understanding-capital-gains-tax-terry-hayes/2013040353251">Understanding capital gains tax</a> with Terry Hayes Ask Margaret: <a target="_blank" href="https://www.propertyobserver.com.au/tax/ask-margaret-can-i-avoid-cgt-when-i-sell-my-home/2013020759235">Can I avoid CGT when I sell my home?</a>


<hr>
In the ruling, the judgement stated that Taras made a capital gain in the 1999 financial year after it transferred its land to a joint venture involving the adjacent land holders that would become the Victoria Gardens complex. As such, Taras owed capital gains tax for the transaction, and was also liable for an administrative penalty for claiming a net loss for 2000 and 2002.
In 1995, Taras purchased four lots of land at 27/45 Burnley Street, Richmond, running east from Burnley Street to the Yarra River for $8.5 million, including stamp duty. Two years later, Taras began discussions with two adjacent land holders, about the “possibility of combining the three properties and having them rezoned to permit a multi-use development” which would include a combination of industrial, residential, retail and commercial components.
In 1998 a joint venture agreement – the Victoria Gardens Property Trust – was executed between the three land holders. Taras agreed to execute a transfer of its land to the newly formed Victoria Garden Developments Pty Ltd as a trustee, for a price of $28.5 million (none of the parties involved disputed the fact that $28.5 million greatly exceeded market value).
For the 1999 year, Taras claimed a tax loss of $1.7 million, on the basis that the its transfer of land to Victoria Gardens Developments was on the basis of the new company as a trustee, so no capital gains tax event occurred. They also filed tax returns for subsequent years claiming losses carried forward from 1999.
The Commissioner disagreed. Auditing Taras, the Commissioner of Taxation decided that a capital gains tax event did occur when the joint venture agreement was formed in August 1998, when Taras ceased to become the outright owner of their portion of the land land, and instead became entitled to interest in the land.
Noting that the $28.5 million figure for the Taras land was far above market value, the Commissioner, after some revision, assessed the land’s value as $16.6 million – resulting in a capital gain of $7.6 million for the 1999 tax year.
Taras has objected to the Commissioner’s decision a number of times.
In this appeal, it argued against the market value assessed by the Commissioner, and also claimed that no actual proceeds were made from capital gains until the entire land was later sold to a third party outside of the Victoria Gardens joint venture.
Victoria Gardens Developments, argued Taras, was merely a mechanism to allow the parties to develop the land. Once the land was transferred from Taras to the Victoria Gardens Developments, Taras still remained the sole beneficiary of the trust over that land, and Victoria Gardens Developments held the land solely for Taras.
The Commissioner has claimed that Taras did make a commercial gain from the transfer of its land to the trust, although cash payments were spread out over a number of years. It also argued that capital gains tax legislation must be used according to ordinary interpretations of its terms, rather than “views of ‘commercial reality’”.
<a target="_blank" href="mailto:richardson@propertyobserver.com.au">richardson@propertyobserver.com.au</a>
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