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?

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New statistics surrounding the distribution of first home owner grant statistics are painting a fairly clear picture of where first time buyers are snapping up new properties across the state of Victoria.
The State Revenue Office of Victoria's latest statistics point to the following for metropolitan and regional distribution of the grants. This data covers the last quarter available - 1 October 2013 to 31 December 2013.
While, typically, the top 10 lists are dominanted by metropolitan areas on the outer suburbs of Melbourne, this quarter three inner city suburbs spilled into the top ten - South Melbourne 3205, Melbourne 3000 and Docklands 3008 as the 7th, 8th and 10th most popular postcodes respectively.
Regional:
1) Armstrong Creek, Charlemont, Freshwater Creek, Mount Dundeed (54 applications)
Interestingly, Property Observer recently reported that the <a target="_blank" href="https://www.propertyobserver.com.au/news/suburb-spotlight-not-all-gloom-and-doom-for-geelong/2013102966017">Armstrong Creek area and surrounds in Geelong were seeing growth</a>, despite the volume not necessarily being what developers were expecting.
2) Belmont,  Grovedale,  Highton, Marshall,  Warn Ponds (25 applications)
3) Alfredton, Ballarat, Canadian, Invermay Park, Mt Clear, Mt Helen (24 applications)
4) Delacombe, Sebastopol (20 applications)
5) Mildura (20 applications) 
6) Arnold, Ascot, Axe Creek, Bagshot, Cornella, Epsom, Huntly, Kimbolton (19 applications)
7) Blackwarry, Callignee, Carrajung, Flynn, Koornalla, Loy Yang, Traralgon (17 applications)
8) Dennington, Warrnambool (14 applications)
9) Clifton Springs, Curlewis, Drysdale, Mannerim, Marcus Hill, Wellington (13 applications)  
10) Branditt, Caniambo, Colliver, Dunkirk, Shepparton (11 applications)
Metropolitan:
1) <a href="/news">Cranbourne</a>, <a href="/news">Botanic Ridge</a>, <a href="/news">Cannons Creek</a>, <a href="/news">Devon Meadows</a>, <a href="/news">Skye </a>(163 applications)
2) Hoppers Crossing, Tarneit, Truganina (146 applications)
3) Craigieburn, Donnybrook, Kalkallo, Mickleham, Roxburgh Park (109 applications)    
4) Doreen, Mernda (108 applications)  
5) Cocoroc, Derrimut, Point Cook, Quandong, Werribee (91 applications)
6) Cardinia, Clyde (70 applications)
7) South Melbourne (67 applications)
8) Wollert (59 applications)
9) Melbourne (55 applications)
10) Docklands (38 applications)
For a point of comparison, the overall statistics of both Metropolitan and Regional for September 2013 (1 July 2013 to 30 September 2013) looked like the following for the top suburbs:
1) Hoppers Crossing, Tarneit (265 applications)
2) Cranbourne, Devon Meadows, Skye (221 applications)
3) Craigieburn, Donnybrook, Roxburgh Park, Mickleham (210 applications)
4) Point Cook, Werribee, Derrimut (184 applications)
5) Doreen, Mernda (117 applications)
6) Pakenham, Rythdale (96 applications)
7) Burnside, Cairnlea, Caroline Springs, Deer Park, Ravenhall (80 applications)
 8) Belmont, Grovedale, Highton, Marshall, Waurn Ponds (78  applications)
 9) Croydon, Croydon Hills, Croydon North, Croydon South (77 applications)
10) Bangholme, Dandenong, Dunearn (69 applications)
 
It appears that a number of suburbs have remained popular over the past six months, largely in areas where the median price is sub-$400,000 and house and land offerings have been created. Do you know of a first home buyer who has purchased into one of these areas? Email: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Where are Victorian first home buyers purchasing?

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The Victoria-located <a target="_blank" href="https://www.realestate.com.au/property-lifestyle-vic-barrabool-7587211">214 Andersons Road, Barrabool</a> is a six-bedroom, two-bathroom, four garage space offering that has a history behind it.
{yoogallery src=[images/stories/2014/01/17/HOMESTEAD]}
With five acres, it includes an original homestead, circa 1860, and has many period style elements that any heritage enthusiast will enjoy that have been contemporised. The front of the home retains the style of the 1800s. It is fondly called Strathlachlan.
The homestead once housed Scottish pioneer James Anderson who emigrated to Australia in 1848, where he bought 13 acres of land at Ceres. He then bought this property. It was retained in the family for many years, despite some subdivision of the estate, and is referenced in a <a target="_blank" href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/64993769">1920s Camperdown Chronicle obituary</a>. 
With a glass atrium, 12 foot ceilings, Baltic pine and hardwood floors, fireplaces in all rooms and timber clad ceilings, it has beautiful photographs that speak of updated history.
There is a mezzanine study above the kitchen, and each part of the home appears to have a quirk or a story, such as the vanity - created from an antique Chinese cabinet - and the property's rear - being created from the Highton Dance Hall.
The property also has a solar heated pool, and has been rewired and restumped.
However, it also has another significant benefit. With a mixed fruit orchard and Pinot Fris vines, that produce 200 bottles per season, a kitchen garden, chicken coop, shed and three acre fenced paddock, there's an outdoor opportunity.
Asking for offers over $2 million, it's worth a visit.
Property Observer notes that the property was purchased by the current vendor with the intent to renovate and bring it up to its current condition.
<a href="https://mce_host/jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au </a>
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An open home worth attending this weekend: Victoria

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When first home buyers are saving, it's often all about the deposit. When they've saved 5% or 10% of the purchase price, they're likely to then find that a number of other costs delay their home ownership dream for even longer.
What are these costs, and how much do you need to be prepared to save?
Let's assume you're buying your first home for $300,000 in Victoria and you have a 5% deposit ($15,000). It's an established property, and not that far from where you currently rent. Grants currently exist for those buying new in Victoria, however are not applicable in this instance.
CURRENT TOTAL: $15,000
The loan process will cost you something like the following:
This means you'll be taking out a $285,000 loan and that you'll need Lenders Mortgage Insurance. This varies from lender to lender. At Westpac, it's estimated at $7,397, however a quick search online shows fees from the $7,000 to $8,000 mark generally.
Some lenders do allow you to capitalise, that is, add this to the top of the loan amount. However, for the sake of this exercise, we'll assume you will pay the fee upfront to avoid paying further interest down the track.
CURRENT TOTAL: $22,500
You then have stamp duty on the loan amount, which amounts to around $1,000. There is also around $7,000 in stamp duty (this varies by state. The relevant Office of State Revenue can assist in working out this fee. This amount is a reduction on the usual fee due to the first home buyer status of our purchaser).
CURRENT TOTAL: $30,500
You will need to register your mortgage - usually a flat rate of about $100. And then you can throw in the establishment of loan fee and legal costs which, together, usually amount to around $1,000.
CURRENT TOTAL: $31,600
Looking at the buying process and ignoring 'hard to calculate' costs such as your own time, travel expenses and similar as you search (as well as any paid-for online searches that some will undertake), you can easily estimate up to another $1,500 in checks (such as building and pest inspections, which can typically be around $500) and legal expenses in the buying process as well.
CURRENT TOTAL: $33,100
After all is said and done, you then need to pay for your moving costs from where you currently live into your new home. Assuming that our buyer in this situation is a renter in a smallish apartment let's assume that cleaning costs may amount to $100 (for carpet steam cleaning) and then some moving costs. Service Central estimates up to $500 for a couple living in an apartment. If you're moving interstate or from long distances away, this could easily span into the thousands of dollars.
CURRENT TOTAL: $33,700
OTHER POTENTIAL COSTS: Buyer's agent fee Connection fee for services (not common) The "unknown" factor. Perhaps you will have minor renovations or home improvements, such as painting, to make your place feel like home. You may even need to purchase new furniture or similar.
How much did it cost you to buy and move into your latest property? What other hidden costs are there?
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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How to: Work out how much buying a home costs

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One of the most perplexing market trends right now is the substantial drop in first home buyers in Victoria. According to ABS Housing Finance data, only 12.2 per cent of loans were given to first home buyers in November 2013. This compares to a 20 year average of 21.4 per cent and follows October which recorded the lowest proportion of first home buyers in 20 years.
From a raw numbers perspective, the last time there were fewer than 1,691 of first home buyers recorded in November was in 1991.
It is now 16 consecutive months that the proportion has been lower than the long-term average.  The proportion rose in November but only because the number of non-first home buyers fell to a greater extent.
The reason this a perplexing issue is because Melbourne dwelling prices are still not at a nominal peak and interest rates are at historical lows. When prices last peaked in October 2010 around 18 per cent of loans were given to first home buyers. At the peak of cycle before that, in 2007, it was around 21 per cent. Prices alone cannot be the reason.
One factor may be the cessation of the Victorian Government’s $7,000 First Home Buyers Grant as the proportion dropped 4 points from July to August and has not risen since. It would however be surprising if this alone was the reason as financial assistance is still available for new homes and stamp duty cuts of 40 per cent can still be accessed.
The data also supports the argument that first home buyers are being crowed out by investors. Even if this is the case, it is not a healthy outcome for the market as investors are critical to the supply of rental homes.
It will be very interesting to watch what impact the increasing stamp duty cuts have over the next ten months as the current 40 per cent discount rises to 50 per cent, hopefully it will encourage more Victorian first home buyers back into the market.
 
<hr>
 Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>. 
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rlarocca-zWhvjay44N

Where have the Victorian first home buyers gone?

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The property market in Melbourne is expected to continue its growth over 2014, and potentially build even further, said Wakelin Property Advisory founder, Monique Sasson.
With 2013 now being seen as the 'year of recovery', with property values recouping losses seen since the 2010 peak, 2014 will further grow on this trend, said Sasson.
“We anticipate this trend to continue, and that the momentum of the last 12 months should carry the Melbourne market upwards in the first half of 2014," she said.
“There will be many Super Saturdays – weekends with a thousand-plus auctions – throughout the autumn of 2014. Nevertheless, robust demand should soak up this supply and see auction clearance rates remain at around 70%."
She notes that while a typical year will see the first "serious" auction weekends occurring in mid- to late-February, we may well see them as early as January this year.
“The greater unknown is what will happen in the second half of 2014.  In large part, the trajectory of the property market will be determined by the Reserve Bank’s attitude to setting monetary policy," she said.
“It may well be the case that the RBA decides to leave interest rates steady through most of 2014. If that scenario eventuates, then expect to see Melbourne price growth in 2014 to be strong, and potentially reaching double-digits."
If growth occurs similar to that seen in Sydney, she said it would be likely to expect 25 or 50 basis points added on from the middle of the year onwards.
“Should the Reserve Bank cut rates again, then I expect this will accelerate capital growth in 2014," she said.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Melbourne market recovery set to continue: Wakelin Property Advisory

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Older, more established suburbs like Preston in Melbourne’s north have come into their own as popular residential areas.
And not without good reason: they are within easy commuter distance of the city, they are near work opportunities and public transport is laid on. Northland shopping centre is not far away.
On top of this, there’s a huge variety of existing housing stock, many Californian bungalows and brick veneers, and a new influx of apartments and units. Something for everyone it seems...
The result of this popularity has been a surge in median prices for houses and units.
Australian Property Monitors’ chief economist, Dr Andrew Wilson, said Preston was one of the more popular ‘growth’ areas in Melbourne’s northern ‘middle ring’ of suburbs.
It’s still a growth suburb as regards property prices and it is still ‘gentrifying’, but it was one of the better performing suburbs in Melbourne this year,’’ he said.
Preston had 211 sales in the six months to November 30 for a 75% clearance rate (as against Melbourne’s 71%). The median house price is $630,000 and median unit price $400,000 – both higher than the Melbourne median - and 5% higher than three years ago.
House prices are up 9.6% over the past 12 months and unit prices 6.4%.
Wilson said the former working class and migrant suburb was attracting buyers because it was still affordable and because of its established infrastructure, especially public transport. ‘’It doesn’t have the rows of quaint Victorian houses of some neighbouring suburbs but it does have a good spread of housing stock.
‘’It’s ticking all the boxes with rising prices, an increase in sales and higher clearance rates. Prices will probably moderate next year but Preston will still offer good value to buyers.’’
At the 2011 Census, Preston had a population of 29,925 – and a host of real estate agents.
Senior salesman at Peter Markovic Real Estate, Angelo Scambiatterra, said the Preston real estate market was staying high – welcome news for vendors. He said property values in the suburb, 9km from the CBD, had ‘’skyrocketed over the past two years although they are still a bit lower than in neighbouring suburbs Thornbury or Northcote’’.
Sales volumes are ‘’a bit down at the moment – from 300 to around 240 properties on the market’’, but demand is still strong.
The suburb has many appealing residential locations with wide, tree-lined streets and a stock of double fronted Californian bungalows on 500-620 square metre blocks. Prices range from $700,000 up to $1 million.
Many areas are magnets for developers, such as along St Vigeon’s Road, where five established family homes ‘’all in a row’’ were knocked down and replaced by four town houses on each block. There’s also been a lot of townhouse redevelopment along The Broadway and in the side streets off Cheddar Road, as well as an enormous amount in neighbouring Reservoir.
‘’The bottom end of the market is around $400,000-$450,000 and the top end is in the Oakhill estate off High Street where prices are $750,000-$1 million,’’ Scambiatterra said.
‘’Most residents are owner-occupiers: families with children at local schools. There are a lot of people in the 30-50 year age group with most wanting to live there rather than simply invest.
‘’Darebin Council does a good job and there are low rates and good infrastructure.’’
Wendy Jeng, director of YPA estate agents in Preston, said State Government guidelines on higher density development would make it easier for developers to buy and rebuild apartments and townhouses in the northern growth corridor – from Preston through Reservoir and Epping.
‘’Since the guidelines’ release (in July) the market has picked up with greater interest – especially from developers but also from prospective home buyers wanting houses,’’ she said. ‘’Most vendors seem to be getting used to the new rules and evaluating their position before acting.’’
Jeng said Preston had long been a migrant suburb – first with Greeks and Italians post-war and later attracting Asians - mostly Vietnamese, Chinese, Indian and Korean. A cosmopolitan atmosphere added to its appeal.
She believes high property prices will remain steady next year, as will interest rates. The low dollar – which has been making it easier for foreign home buyers and especially the Chinese in other areas – won’t have much local effect. ‘’We don’t have many overseas buyers in Preston.’’
<a href="https://www.ypa.com.au/listings_residential_id/15693/property_details">https://www.ypa.com.au/listings_residential_id/15693/property_details.html</a>
<a href="/news">https://www.propertyobserver.com.au/data/suburb/preston-vic</a>
<table border="0" cellpadding="0" width="267"><tbody>
<tr>
<td colspan="3">
House prices
</td>
</tr>
<tr>
<td>
Median sale price
</td>
<td colspan="2">
$605,000
</td>
</tr>
<tr>
<td>
Change in median price in last year
</td>
<td colspan="2">
4.9%
</td>
</tr>
<tr>
<td>
Change in median price in past five years
</td>
<td colspan="2">
25.8%
</td>
</tr>
<tr>
<td>
Average discount
</td>
<td colspan="2">
-8.3%
</td>
</tr>
<tr>
<td>
Average time on market
</td>
<td colspan="2">
79.8
</td>
</tr>
<tr>
<td>
Average hold period
</td>
<td colspan="2">
11.8
</td>
</tr>
<tr>
<td>
Median price for houses $350k to $750k
</td>
<td colspan="2">
$580,000
</td>
</tr>
<tr>
<td>
Median price for houses over $750k
</td>
<td colspan="2">
$826,000
</td>
</tr>
<tr>
<td colspan="3">
Rents
</td>
</tr>
<tr>
<td colspan="2">
Median asking rent
</td>
<td>
$390
</td>
</tr>
<tr>
<td colspan="2">
Indicative gross rental yield
</td>
<td>
3.4%
</td>
</tr>
<tr>
<td colspan="3">
Unit prices
</td>
</tr>
<tr>
<td>
Median sale price
</td>
<td colspan="2">
$391000
</td>
</tr>
<tr>
<td>
Change in median price in last year
</td>
<td colspan="2">
-0.2%
</td>
</tr>
<tr>
<td>
Change in median price in past five years
</td>
<td colspan="2">
9.6%
</td>
</tr>
<tr>
<td>
Average discount
</td>
<td colspan="2">
-6.4%
</td>
</tr>
<tr>
<td>
Average time on market
</td>
<td colspan="2">
67.3
</td>
</tr>
<tr>
<td>
Average hold period
</td>
<td colspan="2">
7.4
</td>
</tr>
<tr>
<td>
Median price for units $350k to $750k
</td>
<td colspan="2">
$453,000
</td>
</tr>
<tr>
<td colspan="3">
Rents
</td>
</tr>
<tr>
<td colspan="2">
Median asking rent
</td>
<td>
$333
</td>
</tr>
<tr>
<td colspan="2">
Indicative gross rental yield
</td>
<td>
4.4%
</td>
</tr>
</tbody></table>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a> 
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staylor-63KgDrKwoY

Suburb spotlight: Preston coming into its own with prices surging

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A prominent Sunbury retail site occupied by Kirkham Homes sold for $822,000 last week. The price represents a yield of 6.5%.
The corner site was among 15 offerings put under the hammer by commercial agents Burgess Rawson at Crown Casino.
The builder has had offices at 5/92 Evans Street since 2002. Its lease extends until 2021.
The 120 square metre shop, with a 24 metre dual frontage, adjoins a Harris Scarfe outlet and is handy to Big W, Woolworths, Foodworks and Coles. The rent is $53,396 with annual CPI reviews.
Auctioneer David Scholes said the area had a fast-growing trade catchment of 60,000 people.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Prominent Sunbury retail site sells at auction for $822,000

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Only three boutique apartments remain in Kokoda Property’s first venture into South Yarra – Lex - with prices starting from $1.2 million.
Located on Alexandra Avenue, Lex boasts eight two- and three-bedroom apartments ranging from 136 square metres to 193 square metres and ranging in price from $1.2 million to $1.9 million.
Five apartments have already been snapped up, including the two penthouses.
“Purchasers in this luxury demographic are incredibly savvy when it comes to property – they understand and appreciate quality and therefore want to experience every facet of the apartment before they purchase, in order to know they have made the right decision,” says Kokoda Property’s sales and marketing manager Sam Tucker.
Designed by Rothe Lowman and with interiors by Stuart Rattle, Lex apartments feature white Carrara marble island benchtops with Gaggenau appliances, wool carpets in the bedroom and American oak timber flooring in the living areas.
Each apartment comes with two underground car parks.
“Homes along Alexandra Avenue are renowned for their low turnover due to the spectacular location right in front of the Yarra and less than five minutes from the city, so blue chip properties like this don’t come along very often.
“The completion of Lex represents a return to Kokoda Property’s roots as a luxury boutique developer and we think purchasers will be amazed by this breath-taking opportunity to own a high-end luxury and waterfront apartment in such an incredible location,” says Tucker.
The median apartment price in <a target="_blank" href="/news">South Yarra</a> is $541,000, a 15.9% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
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ntrotman-Et3xWpamVh

Rothe Lowman-designed Lex crowns South Yarra's Alexandra Avenue

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Over the course of the past two months the weekly clearance rate in Melbourne has dropped from the mid 70 range to the mid 60 range; the reasons for this are many and varied and have been discussed and debated.
There is no doubt that the record volumes of homes for sale at auction have had an impact during 2013, however due to the mismatch between what individual buyers are looking for and what is on offer, there is no linear relationship between stock levels and the clearance rates.
Fundamentally, high stock levels don’t cause a commensurate fall in the clearance rate.
Analysis of RP Data’s auction results show that the reducing clearance rate in Melbourne in late spring and in December is a trend which has occurred in four of the past five years.
In 2012 clearance rates in the high 50’s fell to the low 50’s by the end of December.
In 2010 there was a very similar pattern to this year with low 60’s falling to low 50’s, and in 2009 there was a smaller fall from the low 80’s to the mid 60’s.
In 2011 it was a different case as the market was at a low point with activity in the auction market very subdued and a clearance rate persistently in the very low 50’s.
Further analysis suggests that from a city wide perspective the highest clearance rates in spring are found in the weeks before the September AFL Grand Final and when market activity lifts out of winter.
With this in mind vendors looking to sell in the second half of 2014 should aim to do so early to allow them an opportunity to take advantage of the better buying conditions in December.
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Is the reduction of clearance rates in Melbourne expected?

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A preliminary auction clearance rate of 66.6% was reached from 1,244 auctions this week in Melbourne. 
   This is a solid outcome after the busiest six weeks in Melbourne’s auction market history. Over this time there has been an average of 1,380 auctions a week, a record for any single week in any other year which underscores how remarkable this spring and summer selling season has been.   Buyers who are still in the market will find good buying opportunities over the next month as vendors of homes passed in look to sell.   Prices appear to have stabilised over the past week after the falls of November with a 0.5% rise in the home value index over the last week.   Time on market for houses sold by private sale remain tightened from 34 days to 33 days of the last week.

<hr>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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