Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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?

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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

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

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This dilapidated home last sold for $15,000 in February 2011, and is now on the market for $20,000, a 25% increase in three years should it sell for its asking price. It's the cheapest we could find currently listed, with a detached house, and as such as us asking whether there's a Property Observer reader keen to have a look.
{yoogallery src=[images/stories/2014/01/29/kor]}
<a href="https://www.eldersrealestate.com.au/office/bendigo/residential/buy/property-house-vic-korong-vale-566293" target="_blank">124 Vernon Street, Korong Vale, Victoria</a> is on 990 square metres of land and offers us a fairly sketchy view through the listing photographs of what is actually inside of the “old derelict house”.
With a fireplace, bare floorboards, a water tank, and what looks like it may be a broken roof, it’s certainly one for doing up or rebuilding.
It’s a short drive from gold mining town Wedderburn and the Wychitella Forest Reserve, walking distance to a general store, children’s playground, golf course and local hotel, and is advertised towards “gold fossickers and nature lovers”.
<a href="/news">Korong Value</a> is about two and a half hours from Melbourne CBD and nearby to Lake Donald, a popular hunting ground.
It is listed with Elders Real Estate in Bendigo.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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jduke-EHk3XBmHkn

The cheapest property currently on the market: A $20,000 home

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

<hr>
In the ruling, the judgement stated that Taras made a capital gain in the 1999 financial year after it transferred its land to a joint venture involving the adjacent land holders that would become the Victoria Gardens complex. As such, Taras owed capital gains tax for the transaction, and was also liable for an administrative penalty for claiming a net loss for 2000 and 2002.
In 1995, Taras purchased four lots of land at 27/45 Burnley Street, Richmond, running east from Burnley Street to the Yarra River for $8.5 million, including stamp duty. Two years later, Taras began discussions with two adjacent land holders, about the “possibility of combining the three properties and having them rezoned to permit a multi-use development” which would include a combination of industrial, residential, retail and commercial components.
In 1998 a joint venture agreement – the Victoria Gardens Property Trust – was executed between the three land holders. Taras agreed to execute a transfer of its land to the newly formed Victoria Garden Developments Pty Ltd as a trustee, for a price of $28.5 million (none of the parties involved disputed the fact that $28.5 million greatly exceeded market value).
For the 1999 year, Taras claimed a tax loss of $1.7 million, on the basis that the its transfer of land to Victoria Gardens Developments was on the basis of the new company as a trustee, so no capital gains tax event occurred. They also filed tax returns for subsequent years claiming losses carried forward from 1999.
The Commissioner disagreed. Auditing Taras, the Commissioner of Taxation decided that a capital gains tax event did occur when the joint venture agreement was formed in August 1998, when Taras ceased to become the outright owner of their portion of the land land, and instead became entitled to interest in the land.
Noting that the $28.5 million figure for the Taras land was far above market value, the Commissioner, after some revision, assessed the land’s value as $16.6 million – resulting in a capital gain of $7.6 million for the 1999 tax year.
Taras has objected to the Commissioner’s decision a number of times.
In this appeal, it argued against the market value assessed by the Commissioner, and also claimed that no actual proceeds were made from capital gains until the entire land was later sold to a third party outside of the Victoria Gardens joint venture.
Victoria Gardens Developments, argued Taras, was merely a mechanism to allow the parties to develop the land. Once the land was transferred from Taras to the Victoria Gardens Developments, Taras still remained the sole beneficiary of the trust over that land, and Victoria Gardens Developments held the land solely for Taras.
The Commissioner has claimed that Taras did make a commercial gain from the transfer of its land to the trust, although cash payments were spread out over a number of years. It also argued that capital gains tax legislation must be used according to ordinary interpretations of its terms, rather than “views of ‘commercial reality’”.
<a target="_blank" href="mailto:richardson@propertyobserver.com.au">richardson@propertyobserver.com.au</a>
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jrichardson-uRX5hFdKfN

Victoria Gardens capital gains tax appeal defeated in court

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New claims from the not-for-profit body Turf Australia had ears pricking up this morning. They believe that home buyers are prepared to pay up to $75,000 more for a home with a lawn and are urging savvy property owners to consider the addition to boost their profits.
Anthony Muscat, president of Turf Australia, recently released a statement saying that home buyers see that a lawn adds to the look and feel of a home, particularly for families who want a safe space for their children to run around in.
Turf Australia polled 114 real estate agents nationally between November 2011 and January 2012 to come up with the $75,000 figure.
The statistics provided to Property Observer by Turf Australia (note: these are the average added value to a property): Victoria: $79,800 on a $420,000 home New South Wales: $83,600 on a $440,000 home Queensland: $48,600 on a $405,000 home South Australia: $43,200 on a $360,000 home Western Australia: $40,050 on a $445,000 home National: $75,668 on a $420,375 home They also found that house hunters want a lawn primarily as a safe playing area (73%), the look and feel of the property (34%), relaxation (32%) and increasing the re-sale value of the property (25%). The report noted that 95% of buyers want real grass in their backyard, while for 80% of Australians a lawn needs to be at least 30% of their property's total size.
"A garden makeover is a cost-effective and quick way to increase the value of a home before sale. Laying a good quality lawn costs approximately $5-$12 per square metre, depending on the variety, compared to $23.22 per square metre for a bathroom renovation," said Muscat.
"A garden makeover including turf could also last a lot longer than an interior renovation, as it’s less likely to become dated and is cheap and easy to maintain. Most turf varieties have been adapted to suit the Australian climate and withstand extreme conditions. And it’s not as thirsty as most think, with watering costing as little as $3.19 per week during summer," Muscat said.
Turf Australia provided an example of one homeowner in Victoria’s north-east Melbourne suburb of <a href="/news">Doreen</a>. He is looking to spend $2,000 on turf for his four/five-bedroom, two-bathroom, two car garage house bought in September 2012 for $550,000. The expectation is a $20,000 to $30,000 increase in value. The ex-display home is only a couple of years old, and both the front and back gardens were covered in gravel when he moved in to the just-under 700 square metre block.
The equation that investors should "[insert task here] to add $[significant extra value]" is certainly part of the home improvement and renovating vernacular, however it's worth a real property-by-property consideration. Is he likely to receive a 10-fold return for turf?
Speaking to Monique Sasson from Wakelin Property Advisory, she argued that from her experience, qualitatively the opposite is true.
"You don't have to look too much further than the extraordinary heat and the upkeep associated with maintaining even a small lawn to know that, overwhelmingly, people are realising that drought-resistent, low-maintenance gardens are much more desirable in terms of the time and money associated with upkeep and the consumption of resources," she said. "If we lived in a climate where rainfall was abundant and we didn't go through these periods of intense heat and didn't live in a country prone to drought conditions, particularly in the southern part of the country, then go for it and have some lawn. But I think in Victoria, and in any area of Australia prone to fire risk, drought and where consumption of water is a judicious and precious commodity, it probably doesn't make a lot of sense as it is quite impractical," she said.
"To suggest that spending $2,000 installing lawn can add this sort of value is a preposterous claim. They are welcome to their opinion, but I'd like to see the hard sales evidence and how the two are connected from a hard data point of view. Over 20 years of working in the property advisory industry I've yet to see that kind of claim born out.
"In fact, when people look at homes they look at high maintenance water dependant gardens, they often think it's too much hard work."
While Sasson said that irrigation systems can work to maintain beautiful gardens, she also said that huge bills can come into play. Turf Australia pointed to a cost from $3.19 per week minimum in the summer months.
Greville Pabst, CEO of WBP Property Group, who offer valuations as well as advisory, was also less than certain about the claims.
“I would expect the lawn to improve the appearance of the property, however, it is most unlikely to add the $20,000 to $30,000 expected by the owner. Installing turf would result in limited to no increase in the value of an established property if the remainder of the property required renovation or repairs," Pabst told Property Observer. 
"Conversely, a new property without landscaping would benefit in increased value through some basic landscaping and improvement to external appeal, although investing $2,000 into landscaping is unlikely to add the increase estimated by the property owner," he said.
Having looked at the property in Doreen's online 'before' photos (address not disclosed by request), the addition of some turf would almost undoutably increase the appeal aesthetically; the greenery, with gravel and mulch, being the main front and backyard features, in addtion with concrete pavers. The home itself falls into Pabst's 'new property' category, looking fairly pristine inside. However, whether this translates into a $30,000 increase is up for debate.
Have your say on the poll below about general home values and turf.
{module How much will adding turf affect a home's value?}
If you've had any experiences with this type of renovation, we'd be keen to hear your valuation experiences and how much you managed to profit.
<a href="https://mce_host/jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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Analysis: Can laying turf really increase your property’s value by $75,000?

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South Yarra accountant, Mark Ronald Letten, 60, today pleaded guilty to 27 criminal charges of operating 21 unregistered managed investment schemes.
Letten, the former director of LGH Holdings Ltd, which is in liquidation, and principal of accounting firm Lettens Pty Ltd - formerly The Letten Group - has admitted to dishonestly using his director position using investor funds totalling up to $550,000, and of operating a financial services business without an Australian financial services licence.
The guilty plea came following an ASIC investigation.
Between 1998 and 2010, more than $100 million was placed in commercial investment property schemes in Australia and New Zealand by more than 1,000 investors. Letten managed and promoted the projects through a number of companies, including the aforementioned.
These companies and unregistered schemes were then wound up after a number of ASIC applications in the Federal Court of Victoria, from 2010 onwards.
He was charged in December 2011, to face trial following a committal hearing in December 2012.<a target="_blank" href="mailto:jduke@propertyobserver.com.au"></a>
Schemes managed by Letten included the Healesville Walk Shopping Centre Joint Venture in Victoria, Reef House Resort in Palm Cove, Queensland and the Yarra Valley Golf Joint Venture in Chirnside Park.
Property Observer previously reported about <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/melbourne-property-developer-mark-ronald-letten-facing-criminal-charges-over-alleged-unregistered-investment-scheme/2011121452844">Letten's appearance in the Melbourne Magistrates Court</a>.
In March, it was noted that <a target="_blank" href="https://www.propertyobserver.com.au/victoria/interim-payment-likely-for-mark-letten-property-scheme-investors-kpmg-receivers/2013030559723">those who had placed money in these schemes were potentially able to receive an interim payment</a>. There is further information available for investors and creditors on <a target="_blank" href="https://www.kpmg.com/AU/en/services/Advisory/Transactions-Restructuring/Restructuring/Letten/Pages/Default.aspx">a dedicated site here</a>.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Accountant who placed 1,000 investors into investment property schemes pleads guilty: ASIC

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Melbourne renters have seen only moderate rises in rents over the past year, especially when compared to Sydney. At the same time investors have seen static yields but potentially benefited from improved capital growth.
Over the past year the median weekly rent for a house in Melbourne has risen by $10 and by $8 for units. Currently the median rent for a house is $437 per week and $389 for a unit.
This compares to a rise of $23 per week in Sydney to $582 for a house and an $18 rise for units to $509.
It is certainly less expensive to rent in Melbourne than in Sydney and renters have been faced with more moderate increases.
In part, the lower weekly rent explains why rental yields are lower in Melbourne than in Sydney. The yield for a house in Melbourne was 3.4% in December last year and 4.2% for units. In Sydney, the comparable figure was 3.9 and 4.7% respectively.
Over the past two years, yields have not changed substantially for houses in Melbourne with a change from 3.5% 3.4% recorded. Property owners over that time have benefited from capital growth.
Units, which have a higher yield, have recorded a similar change, from 4.3 to 4.2%.
It is interesting to note that over the longer term, yields for both houses and units in Melbourne have stabilised at a lower level. From 2003 to 2005 investors benefited from yields of around 4.4% for houses and 4.9% for units.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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Melbourne rental increases only moderate compared to Sydney and yields have stabilised

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In the December quarter last year the median value of a house in Melbourne rose by 2.6% to $542,053. Over the last year the increase was 10.7% from $489,696.
A similar increase was recorded for units. The median value of a unit rose by 2.3% to $442,043. Over the last year the increase was 9.8% from $402,440.
This confirms that 2013 was a good year for real estate in Melbourne. Values rose as demand increased and more people bought and sold residential real estate.
The market remains below its previous nominal peak underscoring that we are in a recovery phase.
In the houses market the strongest growth in values over the year was recorded in <a target="_blank" href="/news">Kew East</a>, <a target="_blank" href="/news">Balwyn North</a>, <a target="_blank" href="/news">Caulfield</a>, <a target="_blank" href="/news">Maribyrnong</a> and Balwyn. Value growth was also recorded in the more affordable sub $500,000 segment with the highest growth occurring in <a target="_blank" href="/news">Watsonia</a> where values rose by 12.3% and above the city- wide rise.
<a rel="wp-prettyPhoto[g2835]" href="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table1.png"><img height="301" width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table1-580x371.png" alt="Change in values between September 13 Q and December 13 Q - Houses"></a>
The strongest growth over the quarter was concentrated in the more affordable suburbs of <a target="_blank" href="/news">Hastings</a>, <a target="_blank" href="/news">Knoxfield</a>, <a target="_blank" href="/news">Mitcham</a>, <a target="_blank" href="/news">Keilor East</a> along with <a target="_blank" href="/news">Camberwell</a>. This suggests that the substantial rise in auction volumes (the more prevalent sales method in the inner city) acted to moderate price growth.
<a rel="wp-prettyPhoto[g2835]" href="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table2.png"><img height="256" width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table2-580x316.png" alt="Change in values between September 13 Q and December 13 Q - Houses"></a>
In the unit market the highest growth over the year was recorded in <a target="_blank" href="/news">Malvern East</a>, Balwyn, <a target="_blank" href="/news">Northcote</a>, <a target="_blank" href="/news">Bentleigh East</a> and <a target="_blank" href="/news">Balwyn North</a>.
<a rel="wp-prettyPhoto[g2835]" href="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table3.png"><img height="257" width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table3-580x317.png" alt="Change in values between December 12 Q and December 13 Q - Units"></a>
Taking a broader view of the Melbourne market the data shows that inner eastern suburbs of Balwyn and <a target="_blank" href="/news">Balwyn North</a> recorded the strongest demand across all property types.
Looking forward to 2014, it is clear that the market is primed to move from a recovery to growth phase whilst economic conditions, consumer confidence and monetary policy remain favourable.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
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The best performing suburbs of 2013

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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.
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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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