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

Joel Robinson

The apartment price gap drawing Sydney buyers west

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

Lowe Living set new Melbourne off the plan apartment record

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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.  
{qtube vid:=UcJDr6wGP8A}
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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
 
<hr class="system-pagebreak">
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
 
<hr class="system-pagebreak">
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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Super Saturday: What it takes to win on Melbourne's busiest auction day ever

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Marketed as the 'Neighbours House' at 3 Pin Oak Court, also seen as Ramsay Street in Neighbours, snapped up $127,000 over reserve price, and has been the property integral in winning a real estate marketing award.
You may know the property better as <a href="/news">'30 Ramsay Street' or home to Toadfish 'Toadie' Rebecchi</a>. It is a four-bedroom, two-bathroom and three-car spot property in Vermont South.
Winning the Residential Marketing Award, with a budget between $2,000 and $10,000, Barry Plant Monash Group said they had a marketing budget of $7,000.
Organiser of the campaign, general manager of Barry Plant Monash Group, Mitch Palmer, said that it added a significant amount more value than the outlay.
“The marketing budget for this campaign was just over $7,000 but I believe that with all the media attention and publicity generated, the campaign was worth in excess of $50,000," Palmer said.
“The proof that our campaign reached its target market is that the buyer was actually a UK based investor, a passionate Neighbours fan, who now owns two houses on ‘Ramsay Street’.”
It was advertised as "Your chance to own a piece of Australian television history!"
"Wise families and astute investors alike will also be interested in the significant returns on offer from Fremantle Media," the listing read.
The property sold at auction in February, to a crowd of more than 300 people, with eight competitive bidders.
The buyer paid $867,000 for the 747 square metre property. It had a $740,000 reserve. The median price currently listed by RP Data for <a href="/news">houses in Vermont South</a> is $669,000.
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Neighbours' Ramsay Street home sells $127,000 over reserve, wins award

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Hawthorn East is to be injected with two new boutique residential developments on Camberwell Road, Soltice Apartments and Elmington.
Solstice is a seven-level development designed by Fender Katsalidis Architects and is already 35% sold ahead of construction commencement.
{yoogallery src=[images/stories/2013/10/31/haw1]}
Developed by Bensons Property Group, Solstice (pictured above) will feature 108 apartments across five levels.
Boasting a curved bronzed façade inspired by neighbouring buildings, the development will feature interiors by Carabolt Holt Turchinov, with residents having access to a gym, cinema and garden courtyard.
One-bedroom apartments start from $449,500 and two-bedroom apartments start from $530,000.
Apartments range in size from 45 square metres to 66 square metres.
Solstice will feature ground level retail, which is yet to secure a tenant.
Construction is scheduled to commence mid next year and is scheduled for completion in the second half of 2016.
Further up the road is Emington, a four-level boutique development featuring 68 apartments.
Located on the corner of Camberwell Road and Roseberry Street, Elmington (pictured below) boasts a modern façade of timber-clad balconies designed by Ariel Lopez.
{yoogallery src=[images/stories/2013/10/31/haw2]}
With interiors by Yvette Dumergue of Inhabit Design, residents will have the choice of different fittings and fixtures to suit individual tastes and needs.
One-bedroom apartments start from $399,000 and are 50 square metres in size.
Two-bedroom apartments are 85 square metres in size and are priced from $740,000.
Three-bedroom apartments range between 98 square metres to 129 square metres and are priced from $900,000 to $1.295 million.
South facing ground floor apartments offer direct access to the Fritsch Holzer Park through private courtyards.
The development launched on October 20 with seven apartments reserved to date.
The median apartment price in <a href="/news">Hawthorn East</a> is $490,000, a 6.7% change in the past five years, according to RP Data.
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Hawthorn East to welcome two boutique developments only metres apart

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The Victorian Supreme Court has jailed a lawyer for five years for selling a home that wasn’t his to fictitious identities to repeatedly claim the first home owners grant.
Anthony Robert Coleman, 47, pleaded guilty to theft, having a deficiency in a trust account and 12 charges of obtaining financial advantage by deception, Ninemsn reports.
When his client Eric Smith died in 2002 he pocketed $32,000 from the estate intended for charity and then sold Smith’s Brunswick West unit to the non-existent Pat Bateman, the name of the protagonist in American Psycho, played by Christian Bale in the 2000 film adaptation.
Coleman claimed the first home owners grant for Bateman. He then transferred the unit to a real client, Kaylene Nugent, without her knowledge.
He then transferred the unit to the fictitious Craig Young and then Max Power, a name used by Homer Simpson in in episode ‘Homer to the Max’.
In that episode, a television show called Police Cops also has a hero named Homer Simpson. Initially Homer is happy with coincidence until the character is changed from a hero to a bumbling idiot. After suffering taunts he changes his name to “Max Power”, gaining new friends.
Coleman finally sold the property to a genuine buyer for $214,000. He kept the money.
Coleman also avoided paying stamp duty on a Point Cook property after selling it to false identity Kylie Ann Moore.
A psychological report found Coleman admired some of his criminal clients for their lavish lifestyles and the attention they received from women, Ninemsn reports.
In total he earned $327,000 for his deceptions and was ordered to pay $309,000 in compensation to Smith’s estate.
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Homer Simpson lawyer jailed for five years for first home owners rort

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A clearance rate of 72.3% was reached from 1,328 auction results so far this week. This is an exceptional outcome from what was the biggest week of auctions in the cities history.  
It is notable that despite the increased number of homes on the market the number of buyers rose to ensure a very healthy outcome.
There were around 1,600 auctions held meaning more results will be added before the clearance rate is finalised later this week.  
The clearance rate exceeded the year to date trend and increased compared to last week. This underscores the importance of looking past single week’s results when assessing the state of the market.  
In the private sale market it is interesting to note that the days on market for houses dropped this week from 38 to 36 suggesting a tightening of the broader Melbourne residential market.

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Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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Exceptional outcome from biggest ever week: RP Data's Melbourne weekend auction analysis

<html><body>Australian Property Monitors (APM) has released a list of results from 928 auctions in Melbourne for the weekend of  October 26. <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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