<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

Joel Robinson

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer Big Projects brought in the renowned Sydney-based design studio YSG to craft the interiors for The Frederick, Big Projects' new Mermaid Beach project and YSG's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for Big Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of Big Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Architecture, with landscape design by LDG.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its design flair/ appeal,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. Big Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Big Projects taps Sydney’s YSG for first multi-residential project at The Frederick Mermaid Beach

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

[smartcode_project_cta:default project_id=150128]

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

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

First look: NewQuest Property proposes new St Ives apartment development

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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A preliminary clearance rate of 71.2% was reached from 146 auction results so far this week. Due to the low volume of auctions this week it is more important to look at the private sale market.  
RP Data has recorded a further tightening of the private sale market with the time on market for houses dropping again, this time from 36 days to 34. Conditions in the private sale market have been improving for sellers for the last year with time on market dropping 12 days.  
The same conditions are not apparent in the unit and apartment market where the time on market has not changed in any consistent manner over the past year.  
The price expectations of sellers are also being more closely matched by buyers in the market for houses sold at private sale where over the last year the vendor discount has dropped from 7.3% to 6.2% on a monthly basis.  
Homes sold at auction are not included in the days on market or vendor discounting measures as they are not relevant to fixed period campaigns and reserves are infrequently quoted.  
Volumes in the local auction market will increase again next week.

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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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Private sales an important indicator: RP Data's Melbourne weekend auction analysis

<html><body>Australian Property Monitors (APM) has released a list of results from 83 auctions in Melbourne for the weekend of  November 4. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for November 2 weekend

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Buying in regional areas can allow investors with a lower budget to start building a property portfolio, according to Buyers agent Cate Bakos from Empower Wealth.
Bakos spoke to Property Observer as part of the How the Experts Buy series.
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Bakos says buying in the right areas of Ballarat can give buyers capital growth of 6% to 7%.
The key is understanding what the residents of regional towns are really after.
Whereas buyers in cities might look towards easy access to public transport as a prime indicator of value, those in regional areas put less of an emphasis on this.
Bakos tells buyers to look for established houses in the inner suburbs of Ballarat which are well insulated and on larger plots of land close to major employers.
Areas like Mount Clear and Mount Helen are close to the University of Ballarat, IBM, and goverment services like the Australian Tax Office and the emergency services.
Depending on the property some investors would do well to gear their property towards sharehouses for contractors.
She says many residents of Ballarat actually commute to Melbourne and are looking for larger more luxurious properties than they can afford in Melbourne.
She says yields in Ballarat are around 5.5% to 6.5%. Properties between $200,000 to $240,000 can have rental yields above 6% and properties between $240,000 to $280,000 yield around 5.8%.
Cate was recently awarded the Buyers Agent of the Year award by Your Property Investment magazine.
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Cate Bakos on investing in Ballarat and regional areas: How the experts buy 

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RP Data is expecting 162 auctions in Melbourne this week and 243 across Victoria.  
There is a small hiatus in the auction market this week due to Derby Day and the Melbourne Cup but last weekend’s strong results shows that this won’t negatively impact the results between now and Christmas.  
There are seven weekends for auctions this year after this weekend and we expect volumes to remain high.  
Whilst there is less action in the auction market the private sale market continues to record healthy results with a drop in the days on market for houses from 38 to 36 days.  
Stock being prepared for market is beginning to reduce due to the proximity to the end of the year. Many vendors will be starting to plan for sales campaigns next year.  
Key data  
• Clearance rate week ending 27 October: 71.9%
• Melbourne auctions expected week ending 3 November: 162
• Melbourne private sales time on market week ending 27 October: 36 days (houses)
• Melbourne vendor discounting market week ending 27 October: -6.4% (houses)
• Listings being prepared for market are 3.8% higher in month ending 27 October
 
<hr>
 Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>.
 
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Spring carnival hiatus won't linger: RP Data's Melbourne November 2 weekend auction preview

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High expectations were placed on a bumper spring this season, with experts predicting our biggest property sales period in years. With record low interest rates and the election finally decided, talks of improved consumer confidence reached new heights.
It’s a little different for us down here in the Peninsula – unlike the rest of Melbourne our peak selling period is over the summer months. Don’t get me wrong, spring is still a busy period for us but I’d say we’re more in ‘ramp-up’ mode for the holiday season when our real estate frenzy really hits.
<img height="264" width="470" src="/images/stories/2013/11/01/peninsula-nov-1-breakout.jpg" alt="peninsula-nov-1-breakout">
Photo courtesy of Kevin Yank/flickr.
For the last 11 years, I’ve had my vendors tell me from as early as August that they’re happy to go on the market in spring; it was no different this year. Come the first day of September, we were away and racing.
One of the most interesting trends we’ve noticed this season is the rise of the auction. For holiday home markets like Rosebud, Dromana and Safety Beach where private sales have traditionally dominated, this spring we’re seeing a 70:30 split between auctions and private sales in favour of auctions. We have already conducted 10 auctions this spring alone - five years ago I’d be lucky if I had three auctions for the entire year. The hype around auctions in the broader Melbourne market has definitely started to trickle down to our area, with sellers beginning to see value in this sale method.
There’s also been a noticeable change in sentiment since the change in government – we found a lot of our vendors were fearful to sell before the election. September this year was a huge month for us with our sales nearly double the same time last year. We’ve also had really strong results this month with these properties in <a href="https://www.hockingstuart.com.au/?pagecall=property&amp;propertyID=2462208">Dromana</a> and <a href="https://www.realestate.com.au/property-house-vic-rosebud-114620287">Rosebud</a> selling before auction and we’re expecting the same to happen to a four-bedroom home we have <a href="https://www.hockingstuart.com.au/3_PHILLIP_STREET_ROSEBUD_VIC_3939">in Phillip St Rosebud</a>.
{yoogallery src=[images/stories/2013/10/31/rose]}
We’ve also just listed a unique acreage – <a target="_blank" href="https://www.hockingstuart.com.au/60_OLD_WHITE_HILL_ROAD_DROMANA_VIC_3936">60 Old White Hill Road Dromana</a> – that will draw a lot of interest from retirees and holidaymakers.
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Looking at buyer demand, the interest rate cuts have definitely made a difference but we’ve actually found the completion of the Peninsula Link in January to be the biggest driver for our market this year. People can now get to the Peninsula from the city in under an hour – before the freeway was open, you’d be looking at an average travel time of one and half to two hours depending on traffic. Our days on market have halved from an average of 120 days a year or two ago, to 60 days this year.
The other unique trend we’ve seen this spring has been in the rental market (which has shown particularly strong demand, we had more than 60 enquiries for a three-bedroom home we recently put on the rental market in <a href="https://www.realestate.com.au/property-house-vic-safety+beach-411547723">Safety Beach</a>). We’ve had a few instances where people have chosen to lease a holiday home for the entire year after weighing up the benefits of outlaying $400-$500 a week rent for a year against mortgage repayments for 30 years. We’re finding that professionals in the 40-50 age bracket with disposable income are considering different ways to invest their money.
We’re definitely expecting stock levels and buyer demand to remain high moving into summer, with our activity really ramping up in January – I’m predicting a nominal increase in our sale prices and another interest rate cut before Christmas. But predicting interest rates is like predicting real estate; everyone thinks they know what’s going to happen when the truth is, no one actually knows what’s around the corner. All I know is if our results so far are anything to go by, I can guarantee it’s going to be a hot summer.
 
<hr>
Adam Alexander has 10 years experience in real estate on the Mornington Peninsula and is director of <a target="_blank" href="https://www.hockingstuart.com.au/?pagecall=misc&amp;pagemode=suburb&amp;contentID=106595">hockingstuart Rosebud.</a>
 
 
 
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The auctions are going to be a hot this summer: Mornington Peninsula state of the market

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Yarraville has been Melbourne’s best kept secret. Ten years ago, the median house price was just $316,000 and there was nothing more than a historic cinema and a milk bar. Fast forward to 2013 and the area is now bustling with shops, cafés and the Maribyrnong council has commenced work to improve traffic and roads in the area as part of the Yarraville Urban Design Framework.
Our median house price has now grown to $739,000 but is still viewed as one of the most affordable pockets within a 10 kilometre radius of Melbourne’s CBD when compared to the likes of Prahran, Richmond and Fitzroy which report median house prices of $837,500, $985,000 and $1,290,000 respectively.
<img alt="yarraville-oct-31-breakout" height="264" width="470" src="/images/stories/2013/10/31/yarraville-oct-31-breakout.jpg">
Photo: Sunset in Yarraville, courtesy Anthony W/flickr
It’s common knowledge the market hasn’t exactly been cracking hot the past couple of years, but things have definitely started to take a turn for the better this spring. We’ve seen an increase from one to two buyers per property earlier this year to three to four these past six weeks. Our office has recorded an average clearance rate of 90% compared to 70% last year, while days on market have decreased from 26 days last spring to 22 days currently. Our stock levels this spring have also nearly doubled, with only 40 properties on our books at the same time last year compared to the 76 homes we now have listed. Our increased activity is consistent with reports across broader Melbourne that a “spring boom” is erupting, with median house prices increasing by 14.9% since last spring.
There’s no doubt the market has been driven by record low interest rates and the federal election finally over – across the state agents have been reporting increased levels of activity in their local markets. For us, we also found a lot of people were gearing up to put their property on the market after the AFL Grand Final, with that and the election the trigger points for our spring selling season.
So where is all this extra interest coming from? Traditionally Yarraville has attracted young families and couples to the area, namely for the high supply of affordable, spacious period homes. However, one of the biggest trends we’ve seen this spring is a large influx of investors. It’s very unusual for us to see investors running neck and neck with first home buyers in our area but it’s evident they’re taking advantage of low interest rates.
For example, we recently sold a two-bedroom period home at <a target="_blank" href="https://www.onthehouse.com.au/reports/property_profile/5800756/71_Eirene_Street_YARRAVILLE_VIC_3013/">71 Eirene St</a> (pictured below) $96,000 above reserve due to investor bidding driving up the sale price. We’re also expecting high levels of investor interest at an upcoming auction in 74 Francis St Yarraville on the 30th November.
{yoogallery src=[images/stories/2013/10/31/yarra]}
So what’s in store for the rest of the year? Where interest rates are going is obviously the million dollar question – history tells us they can't remain at this level, so my bet is that they will start to increase in the first half of next year.
As for the Yarraville market, we’re definitely expecting to see investors and first home buyers continue to battle it out. Luckily for them there’s currently plenty of high quality stock so they’re spoilt for choice. But as per basic economic law of supply and demand, if the number of homes on the market continue rising at this level from eager sellers wanting to cash in on the ‘boom’, it will put buyers back in the driver’s seat. We’re awhile away from that yet – right now, it’s an even playing field but it won’t stay that way for long.

<hr>
Leo Dardha has 10 years experience in real estate and is director of <a target="_blank" href="https://www.hockingstuart.com.au/?pagecall=misc&amp;pagemode=agency&amp;agentID=3666">hockingstuart Yarraville</a>.
 
 
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First home buyers battling it out with investors: Yarraville state of the market

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Mum and dad investors are being offered a rare piece of prime retail real estate in Melbourne's popular Little Collins Street for between $200,000 and $220,000.
Up for grabs is a two square metre retail kiosk, at shop three in Causeway House, which is leased to food and beverage tenant Local Birds. The seven plus five year lease started in June 2009 and returns $14,038 per year plus GST.
<img alt="melbourne-oct-30-one" height="306" width="470" src="/images/stories/2013/10/30/melbourne-oct-30-one.jpg">
The retail shop, at 304-306 Little Collins Street, goes to auction on October 31 through Fitzroys senior manager Charles Emmett.
“This is an outstanding opportunity to secure affordable retail investment in an exceedingly prime and absolutely irreplaceable signature Melbourne location,” said Mr Emmett.
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Big opportunity at Little Collins Street retail kiosk

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A private investor has paid $1.01 million for a fully leased Beaurepaires service centre in Melbourne's Keysborough.
Located on the corner of Cambria and Cheltenham roads, the property sold at auction for about $100,000 above the reserve price and on a tight yield of 6.17%.
It was sold subject to a new five year lease to Beaurepaires - the national tyre, wheel, and car battery retailer - at $62,355 per annum. The building is situated on a 1,671 square metre site.
Selling agents Joseph Catanese and Cameron Stuckey of Savills Australia sold the property.
"This property sold on a very strong yield which could well be a record for the area and that is really no surprise given the level of interest we received both prior to and during the auction," said Mr Stuckey.
"We are now seeing a steady increase in enquiry for this type of investment opportunity and there’s no doubt that a  significant contributor has been mum and dad investors looking for sub $1 million investments to purchase on behalf of their self-managed superfunds," added Mr Catanese.
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Keysborough Beaurepaires service centre sells for over $1 million

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An office/warehouse facility in Melbourne's industrial precinct of Tullamarine has sold under the hammer for $2.505 million.
The sale of the 36-38 Trade Park Drive investment property attracted a yield of 8%. 
International freight forwarder AGS World Transport leases the building, which comprises an office/warehouse facility of about 2,400 square metres.  The Australian-owned AGS pays a gross annual rent of $217,000 plus GST.
It was sold through Anthony Carbone of CVA Property Consultants.  
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Tullamarine office/warehouse sells for $2.5 million

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Bids for the three bedroom house at 36 Mills Street, Glen Iris, had not even been called when buyers' advocate Cameron Deal strode to the front of the crowd.
“$1.1 million,” he declared in a lou­­d voice.
Everyone stopped and turned to see this bold newcomer.
Auctioneer Steve Abbott, of eastern suburbs agency Jellis Craig, was taken aback.
''Hang on, sir, I haven't even started the bidding yet,'' he said, slightly miffed but happy that the ball was at least rolling. Too often an auctioneer is left hanging while bidders, reluctant to show their hand, stall at the starting barrier.
''$1.1 million,'' came the retort. That's a bid.''
The 1971 house (pictured below) was certainly worth more than that, especially in this accelerating selling environment, and the Infolio chief buyers' advocate knew it. But strategy is all important, too, and often a strong opening bid by a confident buyer - who looks like he'll go the distance – can throw other bidders into disarray.
{yoogallery src=[images/stories/2013/10/29/glen]}
Sadly for Deal's client, however, the bidding began again, continuing in small amounts up until the selling price of $1,272,500 to Chinese buyers. The vendors must have been ecstatic as the reserve was $1,100,000.
''It was a good tactic; fair and reasonable in the circumstances and it nearly had the desired result,'' Abbott said later. ''It took me a lot of cajoling to get the party started after that. Obviously his client didn't have the money and that strategy occasionally pays off in those cases.''
Strategy, tactics, inside knowledge: they are the buzzwords now as Melbourne's auction frenzy runs its course. Last weekend 1,450 properties went under the hammer in Melbourne making it the biggest auction day ever. It was called Super Saturday, with good reason. The Real Estate Institute of Victoria said more than $1.2 billion in property changed hands.
The strong clearance rate of 77% makes it clear that every edge, every advantage, is needed to ensure a winning bid.
Buyers' agents aim to give their clients that edge by searching for suitable properties in a certain price range, giving expert advice – especially taking emotion out of a decision to purchase - and, importantly, ensuring their client does not pay too much.
They enjoy a friendly, but often guarded repartee with selling agents, teasing out valuable information, looking for a snippet of information here, a dropped clue there. Anything that could earn them a sale.
Last Saturday, Property Observer spent the day with advocate Jake Milne, who works with Deal at Infolio, on a tour of auctions and open for inspections in Prahran, East St Kilda, Glen Iris and South Kingsville. It was a normal weekend for him as he researched what was on offer for his clients, supported colleagues bidding for theirs, and, later, bidding for his own client.
<img src="/images/stories/2013/10/29/jake-milne-oct-29.jpg" width="470" height="430" alt="jake-milne-oct-29">
Photo: Infolio's Jake Milne
''Port Melbourne, Prahran, St Kilda, Elwood, Middle and Albert Park and Williamstown are favourite locations for the former events manager, 30, who became an advocate with Infolio two years ago. ''I bought my first property at 25 and love the industry and the whole buying process,'' he admitted. ''Those suburbs have a community feel, some tourism, shops, dining and the water which are all good selling points.''
Here, rentals of one bedroom apartments can earn a 4% yield and two bedrooms 3.8%. First or second level apartments are especially popular with single females – in fact, he said Elwood is the second most popular suburb for this cohort in Melbourne.
Infolio property advisors operate on a fee for service basis and not a commission based structure. Fees start from a negotiation only $1,650 to research the market and negotiate prior or bid on a client’s behalf (whether successful or not); from $9,800 for a full service arrangement for investors or from $12,200 for a full service arrangement for home buyers.
The advisers assist clients with budgets of $400,000 up to $5 million.
Next page: First stop on Super Saturday
 
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First stop was 1/123 Chomley Street, Prahran (pictured below), a renovated two bedroom apartment that, in real estate parlance, ''ticks all the boxes''. Being sold through Marshall White the 1970s brick veneer is big – at 70 square metres – and well located near High Street. It has a sunny courtyard, car port, large rooms, timber floors and built in robes.
{yoogallery src=[images/stories/2013/10/29/pra]}
Surveying the crowd – where several buyers' advocates were preparing themselves for battle, Infolio's Nick Morrison said: ''I think we may be in trouble here. A few of the advocates have a reputation for paying too much and we won't be getting into a bidding war.'' That's certainly not his strategy. ''We usually open strongly but there's no point doing that here. We'll be sitting back and coming in later. I've got a firm price in my head.''
Morrison's full service client is an international investor with whom he spent the week with inspecting six properties. The client asked him to bid on this one but the strong buyer interest, and the number of rival advocates, warns him his chances of success at her price limit are slim.
He was right. A starting bid of $620,000 was quickly overtaken as bidding reached the $650,000 reserve in minutes. ''We are now selling,'' said auctioneer Michael Derham which seemed to switch on the tap as 11 new bids flooded in. Morrison chimed in with an offer of $687,000 but this was topped by $688,000 and the final bid of $690,000 by first time buyer Belinda Arena.
Derham said later that the reserve had been the same as the opening bid - $620,000. ''I didn't announce (that we were 'on the market') until we got to $640,000 as bidding was going along so strongly. The vendor was very pleased that he got $70,000 over.''
 <img src="/images/stories/2013/10/29/super-saturday-oct-29-one.jpg" width="470" height="366" alt="super-saturday-oct-29-one">
Photo: Michael Derham and winning bidder Belinda Arena at Chomley Street, Prahran
Morrison didn’t win but, unlike many buyers, he hadn't spent too much or – perhaps an advocate's greatest strength – been carried away in the heat of the contest. Emotion is a no-no.
Milne's next call was an auction at 2/29 Charnwood Road, St Kilda (pictured below) which he was assessing for a client. The one and a half bedroom apartment had been renovated and decorated with paintings and furniture designed to appeal to a professional couple. A courtyard added to the appeal of living in this historic locale but the ground floor position was a minor drawback.
{yoogallery src=[images/stories/2013/10/29/st]}
''This is a good entry level apartment and we are quoting low fours although it may go over $500,000. The market will see a lot of value here as there's nothing to do and it's got all the internal features.
''Also, this is a good block (eight apartments) and there have been a lot of good sellers around here – and this is a sellers' market. The sub-$500,000 levels are really competitive right now and this is exactly what young people want even though it's not even a genuine two bedroom apartment.
''It's a good time to sell; the market is going nuts.''
<img src="/images/stories/2013/10/29/super-saturday-oct-29-two.jpg" width="470" height="317" alt="super-saturday-oct-29-two">
Hocking Stuart auctioneer Rob Harvey (pictured above centre) set a cracking pace before knocking down the apartment for $495,000 to buyers' advocate Janet Spencer, of Buyer Solutions, Kew. Spencer is no stranger to winning: she was recently named 'Buyers' Advocate of the Year' at an REIV awards night at Crown Casino before 1200 agents, principals and industry representatives.
 <img src="/images/stories/2013/10/29/super-saturday-oct-29-three.jpg" width="470" height="386" alt="super-saturday-oct-29-three">
Photo: Janet Spencer and her happy client at Charnwood Road, St Kilda
Coincidentally, Infolio was nominated for the REIV Buyers’ Agent of the Year.
Next page: The Super Saturday action continues
 
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Off to our next open for inspection, Milne pondered what was driving up the Melbourne property market. ''Unemployment is going up, the Aussie dollar is at parity, business confidence is low and yet we have prices going up. That proves the enormous faith we have in the market.''
If he's not involved in a Saturday auction, Milne visits eight to 12 properties – mostly open for inspections – to see what's available and gauge the 'feel' of the marketplace. His expertise can save clients thousands, such as arranging building inspections which many potential buyers neglect. He tells of a client whom he convinced to have a clause inserted in the contract insisting that any chattels be in good working order.
''It's lucky we had that clause put in because, in settlement week, the buyer found the oven was faulty and the vendor had to get it fixed. This saved my client thousands because the oven was fixed for free and there was no time lost – read income - getting tenants.''
Off-market sales are another ''weapon'' in the advocates' armoury. ''I'd say one in three properties we buy are not even listed yet,'' Milne said. ''We chat to real estate agents all the time and find out what's coming onto market and when, which most buyers simply don't have the time – or the contacts - to do.''
When judging a property as a potential 'good buy', Milne said criteria for a one or two bedroom apartment included being over 50 square metres of internal space, with a less-than-18 apartment block not having a lift or a pool, being in a quiet street, having a carport, a laundry, some outdoor space and being close to transport. He reiterated that being on the first floor was especially relevant for security reasons.
3/11 Osborne Avenue, Glen Iris (pictured below) satisfied all this criteria, but Milne was not on the hunt, just doing some early research for a client. ''This is our bread and butter,'' he said.
{yoogallery src=[images/stories/2013/10/29/glen2]}
''It's in a street with lots of trees; has a great floor plan with large sunny rooms; has a balcony, bedrooms with built-in robes, and a separate toilet - although the bathroom needs a little work. There's storage space and heating and it would be easy to rent out – especially as it's near the tram and Harold Holt pool.
We could not stay for the auction and agent Alex Voronin, of Jellis Craig, would not disclose the selling price. However, the apartment is believed to have gone $40,000 over reserve. ''The vendor has asked me not to disclose the price but you can say it was a 'keenly contested auction with four bidders','' he said later.
Milne's main goal for the day was to buy 57 Paxton Street, South Kingsville (pictured below), for new client ‘Vanessa’. The outer suburban resident is keen to move closer to the city and this popular suburb is high on her hit list. She had paid $2750 for Milne's expertise and he's determined not to let her down.
{yoogallery src=[images/stories/2013/10/29/king]}
The new, four bedroom town house on 310 square metres had been ''built with love,'' Milne says, pointing out examples of quality and expertise. Further proof of confidence in the construction is that the builder-vendor lives next door.
Agent Tate Moore, of long-standing western suburbs agent Jas Stephens, confirmed a pre-auction estate of ''mid-800,000s'' but Milne, naturally, was hoping to pay less.
Bidding began but, without any opening offers, Tate threw in vendor bids of $800,000 and $810,000 to get things moving – they didn't. After inside talks with the vendor, he emerged to reopen the bidding and Milne seized his chance. However, his bids of $817,500, $821,000 and then $823,000 were matched by a rival until the property was passed in for $825,000.
Tate ushered the higher bidder inside for private negotiations, hoping to draw an offer closer to the reserve. He emerged, downcast, to announce that the vendor's reserve was $850,000 – about $20,000 more than Milne was prepared to pay – and that the property was still on the market.
''We could have kept on going but what would be the point,'' Milne confided to Vanessa afterwards, with the reserve price obviously well above her limit. ''We were in there with a chance and it's a tough pill to swallow but it does give us time to consider our next strategy. We'll just keep on looking.''
 
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