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

Joel Robinson

The apartment price gap drawing Sydney buyers west

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

Lowe Living set new Melbourne off the plan apartment record

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More than 200,000 RACV Insurance policy holders will receive refunds totalling over $11 million, following the announcement of a court enforceable undertaking from RACV Insurance’s underwriter, Insurance Manufacturers of Australia (IMA). Consumer Affairs Victoria has released a statement warning customers against possible scams that may target the refund process.
The refund agreement was negotiated by the Office of the Fire Services Levy Monitors, after it found that IMA increased its base building premiums by 11% in June 2013. The June premium hike followed two other increases that year, with IMA’s Fire Services Levy (FSL) rates reaching 26% in metropolitan areas and 36% in country areas.
The increase of base premiums by IMA offset the impact of the removal of the FSL, causing total building premiums on average to rise. In increasing its base premiums, IMA did not pass on the benefits of reforms to Victoria’s fire services to its policy holders.
According to Victoria’s Fire Services Levy monitor Allen Fels, "IMA stood out as the only major insurer to increase total building premiums over the last half of 2012–13. Parliament passed very strict laws to prevent insurers from taking advantage of this situation.”
The monitors also noted their disappointment that RACV did not make the premium increase transparent to its customers.
"RACV Insurance policyholders could not easily discern increases in base premiums as fire services levies were removed," said Fels.
The refund will be delivered to customers in the form of a cheque, with an explanation from IMA. The government body notes that neither RACV nor the IMA will be requesting a fee or any personal information from customers when delivering the refund. Any policy holders who are concerned about contact from callers claiming to represent IMA or RACV who request this information are encouraged to contact RACV directly.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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RACV customers warned of scams as insurer issues refunds

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Brunswick is located about six kilometres north of Melbourne’s CBD and is bordered by <a target="_blank" href="/news">Brunswick East</a>, <a target="_blank" href="/news">Brunswick West</a>, <a target="_blank" href="/news">Carlton North</a>, <a target="_blank" href="/news">Coburg</a>, <a target="_blank" href="/news">Parkville</a> and <a target="_blank" href="/news">Princes Hill</a>. It is a multicultural suburb with a culturally and linguistically diverse population of about 22,000. Brunswick has a mix of second-generation families, single and double income families and students.
It is one of Melbourne’s most eclectic and cosmopolitan suburbs and it offers great services and amenities for both residents and visitors. The main thoroughfare is Sydney Road, which offers an array of restaurants, cafes, bars and general and specialty retail stores with truly multicultural flavours.
<a target="_blank" href="/news">Brunswick</a> boasts many ‘pocket’ parks and reserves. The biggest open space is a combination of several sporting areas including Alex Gillon Oval, Raeburn Reserve, Brunswick Park, Clifton Park and Gilpin Park. Brunswick has two primary schools and two secondary schools in addition to language and vocational training facilities and an RMIT University campus.
As far as housing types go, the most common are standalone dwellings, followed by flats, units and semi-detached housing. Below is a breakdown of housing in Brunswick:
<ul>
<li>
Attached and detached Victorian terraces, circa the early 1900s,
</li>
<li>
Low-rise flats built in the 1950s and 60s to accommodate the influx of new immigrants.
</li>
<li>
There is a good supply of single fronted brick and weatherboard homes and since the mid 1990s there has been a steady trend of knocking down old dwellings to build new town houses.
</li>
<li>
In the last five to 10 years have many medium rise apartment blocks comprising around 100 units have been erected; numerous new developments are underway or in the planning stages.<del cite="mailto:Nicholas%20Brittain" datetime="2013-02-19T08:25"> </del>
</li>
</ul>
If you are looking to invest in Melbourne property, Brunswick is definitely worth a look. The suburb has great appeal to renters with its close proximity to the city, great transport infrastructure and relatively cheap rents. Renters represent 44% of residents who are mostly in the sub-35 age group.
{qtube vid:=6v21mkAXSNI}
Both houses and units in Brunswick have experienced strong capital growth over the past 10 years, with the median house price for both almost doubling between 2002 and 2012.  A great patch in Brunswick to keep your eye on is the area situated between Brunswick Road and Dawson Street as it offers outstanding renovated single fronted brick and timber homes.
Central Brunswick, which extends from Dawson Street in the South, Albion Street in the North, Melville Road in the West and Logan Street in the East is well known for its fully renovated and extended single fronted and double fronted Victorian and Edwardian homes. However buyers should be careful not to buy too close to the freeway on the west side.
Also be wary of properties that are too close to the train line or shops; ones within a few minutes walking distance are ideal. Remember that Brunswick is a big suburb with a lot of variance in property types and prices. Market forces can vary within different pockets of the suburbs, so when looking at or comparing properties, be sure to compare apples with apples.
Remember the old property cliche ‘location, location, location’? We like to explain this as choosing the right suburb, the right street and the right position on the street or block.
By making smart and well-informed property decisions you will watch you investment grow.
 
Greville Pabst is CEO of <a target="_blank" rel="nofollow" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY">WBP Property Group.</a>
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Expert view: Suburb spotlight on Brunswick

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Malicious damage and rental defaults are among the top claims lodged by investors with landlord's insurance across the board, according to RACV Insurance.
Landlord insurance claims were highest in the Council areas of <a target="_blank" href="/news">Monash</a> and <a target="_blank" href="/news">Knox</a>, where 60 and 44 claims respectively were lodged by those with landlord insurance, said RACV manager personal insurance, Phil James. Maroondah, Manningham, Yarra Ranges, Boroondara and Whitehorse followed closely for claims.
“The average claim cost more than $7,000 in Monash, demonstrating the financial impact property damage or lost rental income can have,” said James.
State-wide, 2,234 claims were lodged with RACV between July 1 2012 and June 30 2013, with a pay out of almost $10.6 million in total.
“Last financial year RACV Insurance paid out an average of $4,323 for 380 claims for malicious damage and an average of $3,341 for 370 incidents of tenants defaulting on rental payments but remaining in the property,” he said.
“RACV Insurance also paid out an average of $3,087 for 213 claims for renters defaulting on rent when vacating the property without notice."
Other claims included storm damage, water damage, burglary and fire. Landlords should consider both tenant damage and natural disaster damage when looking into insurance coverage.
<img alt="graph" src="/images/stories/2014/01/22/graph.png" height="417" width="450">
Source: RACV Insurance
jduke@propertyobserver.com.au
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Monash and Knox see highest number of landlord insurance claims: RACV

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HomeGround's mission is simple: "to get people housed and to keep people housed". 
Their website notes they will do this by developing innovative housing models, advocating for systems change and providing housing and support services across Melbourne.
One of these plans, it seems, is to develop a not for profit real estate agency calling on the goodness of property investors and owners from across Victoria.
Property owners will be given three options - to lease at full market value, at a reduced rent or for free, with profits to go into helping the homeless, according to The ABC.
However, are investors likely to put their property up for this? While Zoe Vale, HomeGround Services, said that they've had a "lot of enquiry" from interested property owners, it's unclear how many will jump onboard and become participants in the philanthropic project.
CEO of HomeGround, Dr Heather Holst, said that the private rental market is the largest supplier of housing for their clients, but also the greatest barrier - simply not being an affordable, sustainable option for people on low incomes.
“It is simply not acceptable that in Victoria alone more than 6,000 extra people attended homelessness services seeking help," said Holst.
The real estate agency will include property managers and a shopfront in Collingwood, and is said to be launched in early-2014 (by March). They note that their team has over 15 years of experience managing in excess of 300 tenancies throughout Melbourne.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Not for profit real estate agency to launch this year

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Melbourne has been contested for its growth prospects over the past year with many experts pointing to its hefty supply capacity as underpinning the potential for softer growth compared to other capitals. We recently <a target="_blank" href="https://www.propertyobserver.com.au/victoria/exclusive-melbourne-s-potential-oversupply-the-experts-have-their-say/2013101065633">asked the experts about Melbourne's potential oversupply with mixed responses</a>.
Planning Minister, Matthew Guy, is pointing to significant land release and development capacity as part of the way forward for the state of Victoria, and for Melbourne.
The latest Urban Development Program reports, covering the 19 regional centres across the state including Melbourne’s outer suburbs, has found that there is plenty of land available for future growth, said Guy.
“It’s clear that there is plenty of land for future development and plans to maintain supply. It is critical that we continue to identify land to drive industry, jobs and housing growth in regional centres,” he said.
“Melbourne is certainly in an enviable position because we have large tracts of land marked for urban renewal and new suburbs. We also have the largest amount of industrial land of all capital cities in the country.”
Over the past year, five new precinct structure plans have been approved – adding 19,000 potential house blocks in Melbourne’s new suburbs – and a record 179,400 potential dwellings from major apartment developments were slated, he said.
Currently across Melbourne five of the six growth areas had 25 years or more of land supply, with Whittlesea having 22 years. There are also 412,600 potential house lots in these growth areas, with a more than a third zoned for residential development or approved in a precinct structure plan.
He also noted that the number of potential apartments in “activity centres” has more than doubled since 2008/2009. Interestingly, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/do-you-think-melbourne-is-facing-an-oversupply-of-apartments/2013100965607">when polled in October 2013, Property Observer readers believed that inner city Melbourne was oversupplied</a> (44.8%), while many thought all of Melbourne was oversupplied (37.3%).
Investors would be wise to keep an eye on Plan Melbourne, the blueprint to 2050, if they are keen to know where releases will take place. It was <a target="_blank" href="https://www.propertyobserver.com.au/victoria/third-airport-mooted-for-melbourne/2013100965599">launched in October 2013 and has some interesting implications</a>.
“Right across the state, there are plans in place to ensure we can gradually open up residential and industrial land for at least the next 20 years, while protecting agricultural employment land,” he said.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Supply to continue increasing in Melbourne: Minister for Planning

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The latest version of RP Data’s Pain and Gain report showed that as we get closer to a new peak in dwelling values the proportion of sellers making a profit on sale is increasing.
Interestingly some of the best outcomes have been recorded in suburbs around 20 kilometres away from the Melbourne CBD.
The report is useful for property investors, small or large, because it looks only at homes that already have an owner and whose sale price is therefore set by the market. Other market data, median prices for instance, mingles the new sales with prices set by the developers and those sold by individuals.
The report showed that only 7.7% of Melbourne homes re-sold in the September quarter of 2013 incurred a loss for their owners. This was lower than the 8.2% recorded in the June quarter this year and 8.3% in the 2011 June quarter.
Of course the longer the home was owned the more likely the owner was to see a profit on sale. The highest proportion of owners selling for more than double what they paid had owned their homes for between 10 and 15 years.
In overall terms the highest overall profit was recorded in more expensive areas with sellers in Boroondara recording $231 million in profit in three months. Whitehorse ranked second with $159 million in profit and Monash third with $136 million.
Despite the very high profits recorded in those inner and middle eastern municipalities it was sellers in Knox that probably had the best outcome with only 2% recording a loss. Those losses totalled only $360,000, less than the value of one house. Second on the list was Manningham where 3.9% of sellers recorded a loss and third was Maroondah with 4.3%.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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Proportion of sellers making a profit is increasing

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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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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.
 
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 Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>. 
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