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

Joel Robinson

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

Private equity real estate firm Conquest has entered into a $220 million partnership with Woolworths’ development arm, Fabcot, to deliver its long-awaited Waterloo project on Bourke Street.

The Bourke Street development was first flagged by Fabcot back in 2021 as part of its push into Sydney’s residential market. However, progress has since stalled, with no activity on site amid a number of design revisions in consultation with the City of Sydney.

<a href="https://www.apartments.com.au/developers/conquest">Conquest</a>, which is actively planning more than $6 billion worth of new developments, predominantly mixed-use precincts, is now set to move the project forward.

The current plans include between 110 and 120 apartments across two buildings designed by Bates Smart at <a href="https://www.apartments.com.au/new-apartments/923-935-bourke-street-waterloo-nsw-2017">923 Bourke Street</a>. The scheme will incorporate a portion of apartments reserved for key workers, alongside premium commercial space at ground level, including a full-line Woolworths supermarket.

Construction is expected to commence in the second half of 2026.

Michael&nbsp;Akaawi, CEO of Conquest, said the partnership reflects the firm’s commitment to "convenience-led" urban renewal."

"We are preparing to commence construction in the second half of this year," Akaawi says.

"Along with Woolworths, we look forward to delivering the first major supermarket to the growing Waterloo community, integrated with premium new apartments and specialty retail shops. Our focus is on creating a seamless lifestyle hub where essential services are at the doorstep, saving residents time and enhancing their quality of life."&nbsp;

<img alt="Conquest" data-entity-type="file" data-entity-uuid="d8beee83-ef9b-446b-a3b3-1e2fe596512b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-01%20at%2011.08.46%E2%80%AFAM.png?VersionId=raYhGepiLUJfx4InLPRRJduA3ftDJ_kS" />

The news comes just a week after Conquest went to the NSW Government to upsize its plans for Castlecrag's Quadrangle Shopping Centre.

Conquest purchased the site for just shy of $70 million last year, with existing plans in place for a mixed-use residential and retail precinct comprising 38 luxury apartments.

Those plans have now been significantly expanded, with the developer lodging a State Significant Development Application with the NSW Government’s Housing Delivery Authority for 150 apartments across two 11-storey buildings. The apartments will sit above a four-storey podium, incorporating specialty retail tenancies and five levels of basement car parking, on the 5,166 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/100-edinburgh-road-castlecrag-nsw-2068">100 Edinburgh Road</a>.

Conquest has been increasingly active in the development space in recent years. The group acquired the&nbsp;<a href="https://www.apartments.com.au/developments/eastlakes-nsw-2018">Eastlakes</a>&nbsp;Shopping Centre redevelopment, where it plans to deliver more than 1,000 apartments above a new retail precinct, and has also lodged a $900 million State Significant Development Application for a&nbsp;<a href="https://www.apartments.com.au/news/nsw/conquest-unveils-900m-stanmore-village-vision-for-landmark-inner-west-site">mixed-use precinct in Stanmore</a>.

Conquest partners with Woolworths to deliver mixed-use Waterloo project

A shift away from Sydney’s industrial past has left parts of the inner south defined by contrast, brick warehouses repurposed into dining precincts, former factory streets softened by landscaping and pedestrian activity.

Rosebery is one of those suburbs. Over the past decade, it has undergone significant gentrification, anchored by The Cannery, which has helped reposition the area as one of the inner city’s most sought-after lifestyle pockets.

What hasn’t kept pace with that transformation is new residential supply, which has remained relatively limited. Builder-developer Deicorp identified that gap early, securing a site in 2019 and delivering what is now one of the suburb’s most architecturally distinctive developments.

To realise the vision, Deicorp engaged Candalepas Associates to design The Rothschild, a project that is immediately recognisable from the street.

Completed in 2025, The Rothschild comprises two buildings across Rothschild and Mentmore Avenues, delivering 176 apartments. The development replaces a former industrial site, retaining a material and structural dialogue with its past while introducing a more resolved residential framework. The scale is deliberate but not monolithic, broken into forms that engage both street frontages, with retail at ground level and two levels of basement parking below.

[smartcode_project:default project_id=106843 project_image_fid=221665]

From the street, the architectural intent is clear. Off-form concrete columns run through the façade, establishing a repeated structural rhythm that gives the building its visual weight. These are paired with deep-set arches and sections of exposed brickwork, creating a layered elevation that reads less like a typical apartment block and more like a reinterpretation of industrial architecture.

The material palette is intentionally restrained, with concrete left exposed and brick used to define mass rather than decoration. The result is a building that stands out through proportion and repetition, rather than height or glazing.

This approach continues internally. A central landscaped courtyard sits between the two buildings, anchored by an olive grove that acts as both a visual and spatial focal point. Rather than functioning as residual space, the courtyard is designed as a shared ground plane, where circulation paths, seating areas and planting come together to create a usable communal environment. Its positioning allows natural light to penetrate deep into the site while maintaining separation between residences.

[smartcode_project:default project_id=106843 project_image_fid=221666]

Within the apartments, the planning follows a clear and functional logic. Entry points lead directly into open-plan living areas, with kitchens positioned as central elements alongside dining and lounge spaces. These zones extend to balconies or external openings, maintaining a visual connection to either the courtyard or the street.

Kitchens prioritise practicality, with generous bench space, ample storage and European appliances configured for everyday use. Bedrooms are typically set back from the main living areas, creating quieter zones within each residence, with separation achieved through layout rather than material change. Bathrooms are compact but efficient, incorporating mirrored cabinetry and integrated storage to maximise space. Across all residences, the emphasis is on clarity of movement and functional planning.

[smartcode_project:default project_id=106843 project_image_fid=221669]

At ground level, retail and hospitality uses extend the building’s presence beyond its residential function. A café or restaurant space, alongside communal amenities such as a music room and rooftop areas, positions the development as part of a broader urban network rather than a standalone project. These shared spaces reinforce a lifestyle where the building operates as an extension of the surrounding neighbourhood.

Rosebery’s proximity to Green Square, The Cannery and nearby parklands supports this model of living, where much of daily life is within walking distance. The Rothschild sits comfortably within that network, contributing to the streetscape through its distinctive architecture, while internally organising space around light, structure and communal use.

The Rothschild is now complete and ready to move in, with limited residences remaining.

[smartcode_project_cta:default project_id=106843]

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

KTQ has unveiled&nbsp;<a href="https://www.apartments.com.au/new-apartments/casilia-16-marine-parade-coolangatta-qld-4225">Casilia</a>, the final residential release within the Kirra Point precinct which really kicked off the boom in the area back in 2019.

The final stage comprises&nbsp;87 residences and marks the culmination of a long-term, family-led vision for Kirra Point, as the precinct moves toward completion in tandem with the development.

Around $100 million in sales have been achieved already, close to 35 per cent of the residences secured ahead of launch. There have been a significant number of buyers returning from the first stage of the development, Miles Residences, securing another property within Kirra Point.

[smartcode_project:default project_id=152295 project_image_fid=368410]

Selling agent Tim Keenan from Keenan Byrne said the response reflects both the scarcity of the offering and Kirra’s growing reputation as a premium coastal market.

“This is effectively Kirra’s final act, the last release within what has become one of the Southern Gold Coast’s most tightly held beachfront precincts,” Keenan said.

“We’ve seen exceptionally strong pre-sale interest, from VIP waitlists through to off-market enquiry, which speaks to both the quality of the product and the confidence buyers have in the precinct. What’s particularly compelling is the number of buyers returning from Miles, either upgrading or investing again, which is a strong signal of how the precinct has been received."

Keenan adds that at the same time, north-facing beachfront remains exceptionally rare in Australia, limited to places like Noosa, Byron and Kirra, which is underpinning long-term value.

[smartcode_project:default project_id=152295 project_image_fid=368415]

Positioned along one of Australia’s few true north-facing beaches, Casilia offers a mix of two and three-bedroom residences with pricing ranging from $1.87 million to $7.15 million and two exclusive penthouses. Residences are oriented to capture varying outlooks, from uninterrupted Pacific Ocean views across Kirra Beach to hinterland vistas, with upper levels and shared amenity taking in sweeping perspectives along the Gold Coast coastline.

At rooftop level, a north-facing pool deck captures expansive, uninterrupted views over Kirra Beach and north towards Surface Paradise. The space incorporates a heated resort-style pool, mineral spa, sun lounges and a covered BBQ cantina.

Buyer profiles are broad, typically aged between 40 and 70, with a strong skew toward second-home ownership, drawn by a combination of lifestyle, relative value, proximity to Gold Coast Airport and lower congestion compared to more established markets such as Byron Bay and Noosa.

[smartcode_project:default project_id=152295 project_image_fid=368414]

The project is being delivered by <a href="https://www.apartments.com.au/developers/ktq-group">KTQ Group</a>, a family-owned Australian property group with a diverse portfolio spanning residential, hospitality and commercial developments. The group has delivered a number of notable projects across sectors, including the award-winning Elements of Byron resort, demonstrating its depth of experience across both hospitality and residential development.

Known for its long-term approach to place-making, KTQ Group retains a vested interest in its projects, often holding assets within its portfolio, which has also helped build trust among buyers and reinforced confidence in both the vision and delivery certainty of the precinct.

“Casilia represents the final opportunity to secure a residence within Kirra Point and brings to market the last release within our long-term vision for the precinct," KTQ Group's Jeremy Holmes said.

"Kirra Point has been more than a decade in the making, and that timeframe reflects the care behind each decision, it takes listening, balance and vision to arrive at something that feels right for the location.

“Our approach has always been to deliver Kirra Point as a destination in its own right, a connected coastal neighbourhood integrating residential, hospitality and wellness, rather than a standalone project. It’s a vision that respects place, pace and permanence, and contributes to a sense of community that feels authentic to Kirra.”

[smartcode_project:default project_id=152295 project_image_fid=368411]

Once complete, the Kirra Point masterplan will incorporate a mix of dining establishments, bars and cafés, alongside the Kirra Point Health Club and a future 91-room independent resort hotel, creating a walkable, integrated lifestyle precinct.

Architecutue and interiors at Casilia have been designed by the experienced design houses of <a href="https://www.apartments.com.au/architects/little-boat-projects">Little Boat Projects</a> and O’Neil Architecture &amp; Interior Design, The design moves beyond the conventional coastal apartments, instead taking cues &nbsp;from the surrounding landscape - layering natural materials, soft curves and warm textures to create spaces that respond to light, airflow and the rhythms of coastal living.

Residences are designed with an array of floorplates, generous proportions and intuitive flow, while at ground level Casilia connects into the broader precinct, where future laneways, retail and hospitality offerings will contribute to a neighbourhood defined as much by how people live day-to-day as its beachfront position.

[smartcode_project_cta:default project_id=152295]

The final residential release within the Kirra Point masterplan is set to launch, as strong pre-sales signal sustained demand for the Southern Gold Coast

A decade in the making: KTQ launches Casilia at Kirra Point

South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

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?

Nearly a year after purchasing the former Leo's Fine Food &amp; Wine supermarket in Kew for a reported $52 million, Melbourne developer <a href="https://www.apartments.com.au/developers/orchard-piper">Orchard Piper</a>, in a consortium with billionaire James Packer, has filed development plans for the site.

The proposal includes just under 200 apartments on the 6,835 sqm block, which spans <a href="https://www.apartments.com.au/new-apartments/26-36-princess-street-kew-vic-3101">26-36 Princess Street and 11-15 Brougham Street</a>. Approval is being sought through the Department of Transport and Planning’s (DTP) Development Facilitation Program (DFP).

The buildings, designed by Wardle, will vary in scale and rise up to 18 storeys. One-, two-, three- and four-bedroom apartments will be offered, along with townhouses. Ten per cent of the total dwellings will be allocated to key worker housing.

The development will also include 19 new retail premises, comprising a mix of shops, restaurants and cafés, including a dedicated space for a high-quality produce offering similar to Leo’s.

<img alt="Kew" data-entity-type="file" data-entity-uuid="67cc85a5-a9d8-4eaa-95ae-fd93762d3297" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%208.15.07%E2%80%AFAM.png?VersionId=_p57VJNE2w16xNXB4ISvu3mnVHDDk86R" />

Orchard Piper noted the development is "designed to revitalise the Junction with high-quality housing and retail, while also improving the public realm."

"Assembling an expert team, we've been working with leading architects Wardle and landscape architects Oculus on a site-sensitive design. Wardle is one of Australia's pre-eminent architectural practices, and its founder, John Wardle, is a former long-term Kew resident with an intimate knowledge of the area.

"After close to a year refining the plans, our current opposition embodies Kew's unique character and meets the community's needs, including detailed consideration of the surrounding building design, streetscape conditions and broader planning context."

On top of the extensive retail component, the opportunity to deliver offsite public realm works, involving the council owned land to the south, would include a comprehensive new landscaped laneway strategy that connects Athenaeum Place into the site, a new public park, and the relocation of the public parking currently on the site to the adjoining council land.

<img alt="Kew" data-entity-type="file" data-entity-uuid="02da73ff-e9d9-4e6a-8b6c-75c6f4cb3b01" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%208.15.12%E2%80%AFAM.png?VersionId=NXlzip8H0suSqc.X2H6nLKZr6LB1joJ." />

Orchard Piper, led by Luke Mckie and Rick Gronow, is currently delivering The Carter building on St Kilda Road and One Toorak Place in Toorak village.

Kew has been a popular suburb for new development in recent years. The likes of Piccolo, ANGLE, and Carpe are delivering projects in the area.

&nbsp;

&nbsp;

First look: Orchard Piper, James Packer's Kew development revealed

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A 5,150 square metre warehouse and office investment property in Melbourne's Footscray West has sold for $1.35 million.
The sale to a private investor represented a yield of 11.5% on a WALE (weighted average lease to expiry) of two years.
The 1 Paramount Road property includes a warehouse and office covering 3,050 square metres and has been leased to the same tenant since 1997, which intends to remain on the property for at least another two years.
DTZ selling agent Rob Mirabello said "This is an excellent sales result given the yield achieved and the remaining lease term".
Mirabello also pointed out that there scope is for planning upside, “with the property located in an area that may be rezoned for residential development in future years.”
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Footscray West warehouse and office sells for $1.35 million

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A rare piece of retail strip on Melbourne's prominent Collins Street is returning to the market.
The retail pocket, at 150 Collins Street, sits within a much larger development due to be completed in August 2014 and will be home to Westpac's new head office.
Gorcon and APN Property Group are developing the project, estimated to have an end value of $180 million.
<img src="/images/stories/2013/10/23/melbourne_oct_23_one.jpg" width="470" height="353" alt="melbourne_oct_23_one">
Artists impression of the 150 Collins Street development
As part of the development, about 650 square metres of retail space, fronting Little Collins Street, will be offered for lease to retailers.
A new state-of-the-art Westpac branch, located on the corner of Russell and Little Collins Street, will anchor the retail offering. The branch will be taking about 330 square metres of the total retail component - roughly 1000 square metres.
A further seven retail tenancies are being offered for lease by Michael Rainey from Fitzroys. The largest tenancy offering has direct access to the main office foyer at Ground Level, and has the ability to be expanded into a mezzanine tenancy. All other tenancies front Little Collins Street, with a number of them with heritage listed art deco frontages. Areas range from 29 square metres to 143 square metres.
Retail rents are $1,000 per square metre to $2,750 square metres plus for the small shops.
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Rare Collins Street retail strip offered for lease

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Supermarket giant Coles Group has agreed to remain at its Melbourne headquarters on Toorak Road until 2030, in a major coup for owner, Investa Office Fund.
Coles fully occupies the 42,000 square metre office complex - known as ‘Battlestar Galactica’ for its spaceship like appearance - and has renewed their lease from the current lease expiry in November 2016 to January 2030. The lease renewal, at 800 Toorak Road, takes the weighted average lease expiry from three years to 17 years.
As part of the lease renewal, Investa (IOF) said in an announcement, the building services would be upgraded and amenities refurbished. A plot of land adjoining the office complex would also be acquired and a 1,200 bay multi deck car park constructed for Coles, subject to planning consent, it added.
<img alt="coles-oct-23-one" height="191" width="470" src="/images/stories/2013/10/23/coles-oct-23-one.jpg">
IOF's share of cost for the office refurbishment and car park is anticipated to be $28 million, and upon completion of the works, the building will generate a yield on cost of 8.2%.
"Working collaboratively with Coles to allow them to refresh their premises and meet their long-term accommodation requirements has resulted in the fund being able to forward solve a key financial year 2017 income risk, and underpins the future value of this asset with a long weighted average lease expiry", said IOF manager Toby Phelps
The Coles lease represents the largest tenant by area in the Fund’s portfolio.
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Coles Group renews 'Battlestar Galactica' Melbourne headquarters lease

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The Victorian regional city of Bendigo is on the move with plans approved - and others in the pipeline - for a swag of apartments and commercial premises set to transform the goldfield’s town.
The Bendigo Weekly reports that the latest in a line of multi-million dollar apartment proposals -  many  in converted factories and warehouses – will ‘’take Bendigo CBD living to the next level’’.
One is said to be the largest apartment and commercial project ever built in the city.
The latest is a plan for a $7 million, 26 dwelling refurbishment of the former Via Furniture site on the corner of Mundy and Havlin streets.
<img src="/images/stories/2013/10/23/BENDIGO_OCT_23_ONE.gif" width="360" height="213" alt="BENDIGO_OCT_23_ONE">
Artists impression of how the former Via Furniture site will look.
It follows approved plans for:
<ul>
<li>
A $2.5 million 15 apartment conversion of the former Webb and Co mill building on the corner of Williamson and Queen streets;
</li>
</ul>
<ul>
<li>
A four-storey $12 million residential and commercial development at 23 Wills Street, opposite Target;
</li>
</ul>
<ul>
<li>
A $3 million building on the corner of Mitchell and Mollison streets with retail, office space and four apartments.
</li>
</ul>
While approved by the Bendigo Council, none of the apartment projects has yet been started.
The greater emphasis on apartment living relates to Bendigo’s expected population growth – tipped to rise more than 36,000 over the next 20 years on the present figure of 109,199. This is a change of 33.3%. (forecast.id).
In the past 20 years, housing growth – not apartments - has been most heavily concentrated in the suburbs of Kangaroo Flat, Strathfieldsaye, Strathdale, Flora Hill and Golden Square.
Now, local concern is that residential buildings should go up, rather than out, to contain urban sprawl, combined with a desire to protect Bendigo’s historic buildings.  
The Bendigo Weekly said the latest proposal – the former Via Furniture site - would have a mixture of four-bedroom detached homes, double-storey terraces and three-storey warehouse style studio apartments.
The medium-density site would have a 20-seat cafe open 7am-7pm seven days a week. The development will back onto Ewing Park and a Bendigo recreational facility.
Owner and builder Russell Parsons, who lodged the application with Greater Bendigo council late last month, is reported in the Weekly as saying the attraction is the site’s proximity to the CBD and restaurant area.
“Central West Bendigo is emerging as an area within the CBD where people are seeking to live and recreate, taking advantage of its natural location and built-form characteristics.
The plan fits in with council’s inner city residential development push, and is in an existing residential area.
“This plan will clearly complement the evolving changes required by our population by providing housing diversity and opportunity, decreased dependence on the car, a new public space and improvements to the public domain.
“People have been looking for developments like these around the CBD for years.”
Other approved apartment projects include the $2.5 million, 15 apartment conversion of the former William Webb building on the corner of Williamson and Queen streets. Webb built the four-storey mill and granary in 1878. At one stage it produced 2500 sacks per week. Webb died in 1909 and production stopped in 1923.
The building was then refitted for the So Easy sewing machine company, with the first machine christened by Acting Prime Minister Earle Page on October 10, 1923.
The new commercial and residential complex will retain as much of the historic building as possible, according to the Weekly.
The facade will not be significantly altered, except for the new shop front and entry point on the ground level, and internal historic features will be highlighted.
Greater Bendigo heritage advisor Mandy Jean reported said the plan would ensure the restoration and rehabilitation of the old mill building and offer city views.
"The objective is to maintain the building's overall historical significance and fabric in their setting, while adapting the structures to incorporate new uses, including apartments.
"This will include reinstating all the windows, retaining the upper vaulted ceiling, exposing stone and brick walls, uncovering covered structural timber columns and beams and removing false partitions and ceilings.
"There will be the introduction of a new level behind the existing parapet roof."
What was described by the Weekly as ‘’possibly Bendigo's biggest private housing development’’ is a four-storey $12 million residential and commercial development at 23 Wills Street, opposite Target.
The building will have underground car parking, commercial and retail levels and two levels of apartments. Apartment numbers are not yet known.
The development fits in with the council's CBD and residential strategies, having ‘’an active front’’ and apartments above shops.
The developer and local investors had planned a much smaller proposal, however, after reading the council's 2005 CBD Structure Plan – and in light of future residential and commercial growth - they were inspired to design a much grander building, the Weekly reported.
"When you consider so much of the CBD is either tightly held, too small to develop or subject to heritage protection, it became obvious we ought to utilise the space we had as best we could,’’ developer and business consultant Scott Jackman reportedly said. The building's design was inspired by Bendigo's historic buildings.  
<img src="/images/stories/2013/10/23/BENDIGO-OCT-23-TWO.jpg" width="461" height="218" alt="BENDIGO-OCT-23-TWO" style="display: block; margin-left: auto; margin-right: auto;">
Artsist impression
Bendigo’s residential strategy came under the spotlight last year because of its greater-than-expected growth. The state government said then that 40% of the city’s forecast growth between 2006 and 2031 ‘’had already been realised’’. (Bendigo Weekly).
Regional Development Parliamentary Secretary Damian Drum said a Bendigo residential strategy review would deliver greater community and investor certainty, further helping the region grow.
“Strong residential growth has many flow-on economic benefits and having a clear framework for future development will position Greater Bendigo City Council to undertake more detailed, place-based planning in the future.’’
Then Deputy Premier Peter Ryan added: “This project will review the strategy, assess current and estimated land supply and demand and consider various legislative and policy changes.
“It will also consider the latest demographic data and establish a new strategic framework to guide the long-term residential growth of Greater Bendigo.’’
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Swag of plans approved for Bendigo as goldfields town looks set to transform

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Minister for Planning Matthew Guy has announced a $300 million hotel and apartment complex in Docklands, to be known as The Altus.
Guy launched the 4.5 star hotel and apartment complex yesterday, which will be situated on the corner of Harbour Esplanade and Dudley Street.
The Altus will feature 281 guest rooms and suites, 27 serviced apartments and 299 residential apartments across 37 storeys.
“Docklands is continuing to deliver state of the art buildings that are rejuvenating the area,” says Guy.
“Once completed, The Altus will be part of a vibrant and exciting precinct in which to work, live and to visit.
“The Altus adds to a growing list of top class accommodation, dining and entertainment
venues in the Docklands, which provides access to world class sporting and music events, shopping, fine dining and recreational activities,” says Guy.
Construction is scheduled to commence in early 2014 and will create over 400 construction jobs and once completed in 2016, 150 hotel jobs.
“The Victorian Coalition Government is continuing to transform the Docklands into a waterfront destination that will be home to 20,000 residents and 60,000 workers upon completion in approximately 2025.
“Investments like the new $43 million community precinct that will feature the Docklands Library and Community Centre, Dock Square and Docklands Family Services and Boating Hub are creating a vibrant and exciting suburb.
“The $15 million Dock Square will provide 2,500 square metres of landscaped open space for residents and visitors to enjoy the outdoors and maintain active lifestyles,” says Guy.
The last remaining piece of major developable land in Docklands, a 2.5-hectare site diagonally across from Southern Cross Station, has now been contracted.
It will be developed into a $1.6 billion precinct, linking central Melbourne to Docklands.
Guy says nearly all 140 hectares of Docklands’ developable land is now contracted for development, with 50% of the land developed into the newest part of Melbourne’s CBD.
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A $300 million hotel and apartment complex to grace Docklands

<html><body>Over the September quarter, in seasonally adjusted terms, Melbourne's median house price has increased by nearly 9%, according to the Real Estate Institute of Victoria (REIV). Melbourne's house price median is now $595,500 from a revised $547,500 in the June quarter, pushing it to a new peak. Previous high price recording included $559,000 in December quarter 2010. REIV CEO Enzo Raimondo warned that this price growth is unlikely to be able to be sustained over the long-term. “Interest rates remain low and buyers are taking advantage of this with the chances of a further rate cut this year becoming less and less likely," said Raimondo. "But judging from the rather rapid increase in house prices, affordability pressures could start to act as a counter balance to demand in the next few months, particularly for first home buyers," he said. A very strong increase in demand was behind the increase, particularly in August and September. However, strongest growth in median prices were concentrated around the inner and middle suburbs, which may be skewed due to presitge property transactions. Raimondo pointed to surges in Balwyn, Brighton East, Ascot Vale, Balwyn North, and Footscray. "This is reflective of the relatively high number of premium sales, particularly million dollar sales, in this quarter," he said. In regional Victoria, there was a 0.8% increase overall, however Geelong, Ballarat and Bendigo tended to outperform.</body></html>

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Melbourne house prices grow to new record

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A new analysis by RP Data has revealed which property owners, over the past financial year, received the best capital gains in Melbourne by gross profit.
Those who sold in Flinders during this time period saw the best result, while those closer to the CBD in Armadale also saw significant capital gains.
<img alt="larocca-oct-18-one" height="158" width="470" src="/images/stories/2013/10/18/larocca-oct-18-one.gif">
Over the period, 91.9% of sales returned sellers a profit, said RP Data's Victoria housing market specialist, Robert Larocca, with those having held for longer seeing the best results.
"The RP Data quarterly results showed that across the Melbourne metro area, over one third of sellers doubled their original purchase price," said Larocca.
The smallest proportion of loss-making re-sales was seen in the Yarra Council region, with 3.9% recording a loss over the June quarter.
Meanwhile, the largest proportion of loss-making re-sales was seen in the Melbourne Council region, with 17.3% of all re-sales selling at a loss over the same period.
"Based on profits made from resales of houses, the top five suburbs in Melbourne were Flinders, Armadale, Caulfield, Oakleigh East and Parkville," said Larocca.
"The RP Data top 50 list shows that the suburbs around the hills to the north east and eastern fringe of Melbourne have been good investments with Belgrave Heights, Belgrave South, Montrose, Warrandyte, Mount Dandenong, Olinda, Kallista and Warburton."
Looking at the long-term, Larocca noted a trend for tree-change close to the city. The other notable trend included the inner north with Parkville, Princess Hill and Fitzroy North, with prices being attractive to buyers compared to the inner east, while also featuring period-style properties.
"Outside of Melbourne, the strength of the Geelong market was apparent with many suburbs in the region providing all sellers with a profit," Larocca said.
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Top Melbourne capital gains suburbs revealed

<html><body>Australian Property Monitors (APM) has released a list of results from 631 auctions in Melbourne for the weekend of  October 19. <a style="font-size: 14px;" target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow">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 October 19 weekend

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Following our <a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-finding-its-feet-after-a-difficult-conception/2013101065628">suburb overview of Docklands</a>, we continue our series on the suburb with the local real estate agents perspective.
At last, say the real estate agents, the emerging Docklands has rejuvenated itself and started to blossom, to achieve its potential.
No more a soulless ghost town, it is now an attractive – and well located – haven where high-rise residential towers and rows of townhouses front busy streetscapes and wide promenades. They have enviable views and amenity.
The waterfront with its marinas and luxury craft add their own atmosphere. Things are buzzing.
There’s a general consensus that, as building works settle down – and new residents settle in – Docklands will consolidate and provide the kind of lifestyle its residents bought in for in the first place.
Places Victoria’s expectations are that, by 2025, Docklands will be home to 20,000 residents and 60,000 workers, with an area almost double the size of the Melbourne central business district.
And there’s no better gauge of this than recent property transactions.  Long-term agent Glen Lucas, of Lucas Real Estate, with offices at Yarra’s Edge and NewQuay, said business was "pretty good".
"The market has stabilised over the past three months after a tough 18 months. There is lots of interest now and we are selling more property – and the best thing is that 75% of buyers are owner-occupiers.
"It’s a good news storey: people do want to live here despite some negative perceptions in the past. Everyone seemed to have an opinion about Docklands based on negative media reports, such as about the broken Observation wheel. Everyone seemed to want to have a crack.
"Well, I lived at Docklands for six years and I found it a great place in which to live."
Some of the offerings are spectacular, such as the penthouse at 90 Lorimer Street which Lucas sold on New Year’s Eve for $3.5 million – again to an owner-occupier. "We were all pretty excited about that," admitted the agent. "And, from what I hear, the renovations are absolutely spectacular."
Lucas said average Docklands sales were around the $750,000 mark with average rents around $550 a week. His firm manages 1100 rentals.
<a target="_blank" href="https://www.sellmycastle.com.au/agent-profiles/glenn-donnelly/2939/">Glenn Donnelly</a>, of City Residential Real Estate in Lorimer Street, echoed the owner-occupier theme. "Of our past 10 sales eight were to owner-occupiers. Properties here have started to generate a lot more interest and this year we are charging along in both sales and rentals."
Donnelly has lived at Docklands for the past six years and worked there for 12. "It is a fabulous area: you can walk everywhere - I don’t tend to drive a lot – and there are restaurants and bike paths and, of course, activities on the water.
"I have seen enormous changes: no one wanted to live here in the early days because there were no amenities; there were a lot of negatives. Now it’s totally different. Rents and sales are up and there’s been enormous growth, yet we are still five years away from our peak.
"What we really need is a school, though, and I know one’s being planned. That would make the suburb complete."
Donnelly said sales averaged $680,000-$700,000 for two-bedroom townhouses with two bathrooms, two car spaces and views, with similar properties renting for around $580 a week. "The rent market is strong and nothing stays vacant for long."
City Residential Real Estate manages 370 rentals.
John Sdregas, of JMRE North Melbourne, but with a Docklands focus, says he foresaw the growth potential for real estate 10 years ago as residents of congested inner suburbs east and north of Melbourne moved further west to get more ‘bang for their buck’.
They found they could buy whole houses in well-placed Yarraville or Seddon for what they were expected to pay for small, two bedroom apartments in, say, Richmond, Fitzroy or North Melbourne. This pointed to a realignment of the centre of Melbourne with Docklands as its focal point.
"I’ve only ever seen steady growth here – about 7% in the past two years. And, also, demand for rentals is strong at about $500 a week for the average two bedroom, one bathroom, one car park townhouse. The average sale price for those properties would be $500,000-$550,000."
Ddregas said an early imbalance in supply and demand causing to a glut of apartments - and the seemingly never-ending construction works - had led to popular perceptions of Docklands in its formative years as being deserted.  This has changed: he now believes that with all the big companies establishing themselves, and others moving in, the notional centre of Melbourne is moving west and assuring the suburb’s future.
Lachal Property Group’s Paul Lachal, who specialises in project management and advising investors and developers on marketing and sales, often at Docklands, said nowhere in Australia had there been such development in such a short timeframe, with 10 large buildings erected – including the NAB and ANZ banking headquarters.
"This is the fastest growth area in the country," Lachal said. "A lot of people used to say it is desolate but, if they had seen what was here 10 years ago and what is here now, and if they see the major new buildings that have sprung up, they would be amazed."
He said these ‘house-hold names’ were anchor points adding stability and traction to Docklands and attracting others to follow their lead. They are the solid foundations on which residential builders can build a new suburb.
Lachal said the fact Docklands was not laid out on the Hoddle Grid – as is the Melbourne CBD – could be blamed for making it harder to get around. It’s just a learning process, he said.
An example of the current Docklands offerings is this apartment at 1122/60 Siddeley Street, listed for $490,000 through <a target="_blank" href="https://www.cityresidential.com.au/listings_residential_id/15666/property_details">City Residential Real Estate</a>.
{yoogallery src=[images/stories/2013/10/17/dock]}
<a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=1&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a>
<a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=2&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a><a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=3&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a>
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At last, Docklands is starting to blossom say local real estate agents

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Last week saw Melbourne record the 11th consecutive weekly clearance rate in excess of 70%.  
RP Data is expecting 1,046 auctions in Melbourne this week and 1,168 across Victoria.  
This week will be followed by the largest for auctions in the state’s history with 1,628 expected, 1,500 of those in Melbourne and 1,396 on Saturday alone.  
These conditions will provide a high level of choice for buyers and will not only provide favorable negotiating conditions but also help with the often difficult task of finding the special home that they have been searching for. It is often forgotten that low stock levels can act to dampen the market as buyers can’t find the home that meets their needs.
RP Data quarterly results show that across the Melbourne metro area, over onethird of sellers doubled their original purchase price. The highest profits were found in Flinders and Armadale.
Key data
• Clearance rate week ending October 13: 74%
• Melbourne auctions expected week ending October 20: 1,046
• Melbourne private sales time on market week ending October 13: 39 days (houses)
• Melbourne vendor discounting market week ending October 13: -6% (houses)
• Listings being prepared for market are 7.1% higher in month ending October 13
 
<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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New apartments

New townhouses

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