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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This week’s preliminary clearance rate for Melbourne was 73.6% compared to last week’s final of 74.7%. This result is based on 871 auctions of residential homes with 641 selling and 230 being passed in.

The spike in listings this week was a test for the auction market and it recorded a pass mark by continuing the trend of the last month and a half. The most recent interest rate reduction came at the start of August and has clearly encouraged a few more buyers into the market and helped keep the clearance rate above 70%.

Across both methods of sale listings are rising with a 6.5% increase over the last month in Victoria on seasonally adjusted terms. Buyers conservative position is however still evident with a 3.5% fall in local activity in the mortgage market.

Melbourne continues to track below the very strong Sydney auction market which recorded an 84.3% clearance rate this week.


<hr>
Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/">RP Data</a>.
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Rate reduction has encouraged buyers into the market: Robert Larocca

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Australia's largest urban renewal project, Fishermans Bend, has today seen the draft vision and design guidelines released, detailing the scope of the project.
Premier Denis Napthine and minister for planning Matthew Guy announced the release of the guidelines, and said that it would allow for the continued growth of Melbourne's CBD, connecting it to the south-west.
The project includes 250 hectares of land, and expects that within 40 years it could accommodate 80,000 residents and a workplace for 40,000.
Within the next 10 years, Places Victoria expects $2 billion of private investment and 13,500 construction jobs to be delivered.
“It is incredible to think how the Fishermans Bend Urban Renewal Area has  the capacity to accommodate a population approaching the size of Ballarat  or Bendigo on the doorstep of the existing CBD,” Napthine said.
“The colocation of residents and jobs in an area only minutes from the  existing CBD will be a major boost for the state’s productivity and  economic growth over the next 50 years."
Sydney and Brisbane, said Napthine, can 'only dream' about planning a project of this type. 
The project has been developed with the support of the City of Melbourne and the City of Port Phillip, said Guy.
“The Fishermans Bend project will set the standard for urban renewal  across Melbourne and Australia over the next three decades, bringing  thousands of new residents to areas close to jobs, transport and  Australia’s greatest cultural heart," he said.
“When looking at the plan it is clear that a number of precincts will  develop to include low rise family friendly housing, medium scale  development, and high density development around a future transport  corridor and new employment hubs."
There will be mechanisms involved for the delivery of affordable housing.
“The Vision documentation and design guidelines will set new standards in  urban renewal including requirements for open space provision, setbacks on  towers above podiums, a network of laneways and density in locations that  respects existing residents,” Guy said.
The plan for the area has previously been <a target="_blank" href="https://www.propertyobserver.com.au/victoria/fishermans-bend-rezoning-remains-contentious-as-montague-site-to-be-flooded-with-apartments/2013062562627">slammed by an RMIT planning professor as the "world's worst practice"</a> in terms of development.
Public comments and submissions are open until 22 November 2013, with a final structure plan expected to be released early next year. The plans are available on the <a target="_blank" href="https://www.fishermansbend.vic.gov.au/cs/Satellite?c=VPage&amp;cid=1316149683199&amp;pagename=Places%2FLayout">Places Victoria website</a>.
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Urban renewal project a game-changer for Melbourne CBD

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A series of 19 luxury townhouses are being developed in Melbourne's Abbotsford by developer Kalex, with the display suite launched on Saturday.
The development, called Park &amp; Raphael, is priced from $875,000 to $1.35 million and is due to be completed by late-2014.
Located from 59 to 67 Park Street, including frontages on Raphael Street, there will be a choice of two- or three-bedrooms, spanning 150 to 220sqm on two to three levels.
Founder of Kalex, Kyp Bosci, said that it's a well-located development and has been selected specifically to get the most of the lifestyle elements.
“On the one hand it is secluded – nestled amid parkland – and on the other it’sconnected to the CBD, the inner north and the city’s entertainment precincts. That’ssomething unique in Melbourne and only Abbotsford can offer," Bosci said.
Award-winning architecture firm Jackson Clements Burrows is involved in the project, along with interiors from DesignOffice, Great Dane Furniture will be available for consultation and furniture selection and landscaping from Urban Commons is included.
Principal architect, Tim Jackson, said that surrounding terrace houses and warehouse conversions were behind the inspiration for the design.
“We were conscious of the aesthetic and heritage streetscape that exists in this patch of Abbotsford and wanted to retain the integrity of that local character, as well as offering new ideas about what contemporary townhouse living can be," said Jackson.
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Display suite launched in Abbotsford

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New local planning controls along two of Melbourne’s iconic rivers will put a level of restriction around development, with minister for Planning, Matthew Guy, implementing Stage 2 of the planning controls.
As part of a commitment to protect Melbourne’s main waterways, the Yarra and Maribyrnong rivers, new planning controls are being introduced.
These planning controls cover the Yarra River between Burke Road, Ivanhoe and Warrandyte, in partnership with Banyule City Council, Manningham City Council and the Shire of Nillumbik, said Guy.
“For the first time in its history, the Yarra River from Camberwell to Warrandyte will be comprehensively reviewed and planning controls strengthened to further protect our iconic river,” Guy said.
Specific areas along the Maribyrnong River have been identified for restrictions around site specific height and setback controls to assist the area in protecting itself from inappropriate development.
This review is flagged to be undertaken in partnership with Melbourne Water.
“We will continue to work with local councils and Melbourne Water to deliver consistent planning controls to protect both rivers,” he said.
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Development to be tightened around Melbourne’s rivers

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An Asian investor is reportedly in negotiations to spend more than $95 million on a 24.3 hectare residential site in Yarraville, in partnership with a local developer.
The former Bradmill denim factory is <a href="https://www.propertyobserver.com.au/residential/another-%24100-million-plus-residential-land-sale-pending-at-yarraville-gardens/2013070362959">being sold by former Carlton football club vice-president Colin De Lutis</a>, who bought the site in 2007 for a reported price of $7 million.
It was rezoned to residential and named Yarraville Gardens in 2011 and a master plan for 1500 dwellings was developed by Peddle Thor Architects.
The plan comprises a mix of townhouses and apartments.
In July CBRE suggested <a href="https://www.realcommercial.com.au/property-land+development-vic-yarraville-500791159">the site</a> would sell for more than $100 million.
It is being sold by CBRE agents Mark Wizel and Justin Dowers. In July they tipped it would likely sell to an Asian developer.
“There is little doubt that while off-shore Asian developers remain the most active buying group for large inner city sites with residential development potential, Yarraville Gardens is also expected to generate significant interest from the domestic private and institutional development market,” Wizel said in July.
The Australian Financial Review reports De Lutis will retain 2 hectares which has approval for a 10,000 square metre shopping centre and a library.
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Asian investor to spend $95m on Melbourne residential site

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The Napthine government will purchase units from off-that-plan buyers in Parkville’s Evo building which is to be surrounded by off-ramps from the proposed east-west link.
Buyers in the Pace Development Group have been demanding action from Linking Melbourne Authority after plans for the massive freeway development revealed the tower would <a href="https://www.propertyobserver.com.au/developments/doubt-cast-over-jardin-australand-parkville-project-but-evo-buyers-caught-in-east-west-link-plans/2013071663349">literally be surrounded by off-ramps up to five-storeys high.</a>
The LMA is offering buyers in the 175-unit complex the option to sell their contracts by September 25, settle and sell within 90 days or keep the property and seek compensation, or keep the apartment and sell at a later date at the affected value.
Treasurer Michael O’Brien says the decision is consistent with the government’s commitment to treat people who may be affected by the project fairly and with respect.
“The Coalition Government is acutely aware of how the East West Link project could impact people purchasing apartments at the Evo development,” O’Brien says.
“LMA has been listening to and working with the developer and purchasers to ensure they are continually informed, and to work towards an appropriate and fair outcome,” O’Brien says.
The deal allows first home buyers the retain eligibility for any applicable grants and stamp duty relief.
Buyers can claim back any capital appreciation which would have happened had the project not gone ahead as well as cash deposits or fees associated with a deposit bond up to $2000, legal fees up to $2500 and reimbursement of any lost stamp duty benefit.
The LMA will also purchase the 16 unsold units in the seven storey building and act as landlords.
At an average cost of $500,000 the acquisitions could cost $90 million.
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Napthine government to buy east-west link affected units

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Welcome to the first Back of the hand column. Each month I’ll give you the low down on one of the Melbourne suburbs where I hunt for investment grade property.  For my opening gambit, I’ve super-sized the offering – I’ll be looking at <a href="/news">Brunswick</a>, <a href="/news">Brunswick East</a> and <a href="/news">Brunswick West</a>!
The three zones of Brunswick are like siblings in neat formation, standing two-and-half kilometres tall from Brunswick Road to Moreland Road. Brunswick proper is the big brother in the middle; it’s almost twice as big as its flankers.
It has to be said, if you’re a home-buyer looking for an inner city lifestyle and are more attracted to the funkier north than the establishment east of Melbourne, then you’ll probably be pretty happy to live in Brunswick, Brunswick East or Brunswick West.
Transport
Where you choose to live or invest may come down to commuting needs.  If you or your tenants work or study in the west or north-west of Melbourne then Brunswick West is clearly more convenient than the other two suburbs.
Brunswick is the only suburb of the three with a train line – the somewhat infrequent Upfield line – and it also has a tram route down Sydney Road. It’s therefore the ideal suburb for those needing fast access into the CBD.  Brunswick East also has reasonable transport links to the CBD (three tram routes) and is of course best placed for those needing to reach the eastern suburbs.
Landscape
Like much of the inner north, the three Brunswick suburbs have a diversity of residential architectural styles and share the landscape with pockets of light industrial use. The residential stock ranges from Victorian and Edwardian weatherboards and brick houses, to Californian bungalows of the 1930s, through to 1950s clinker brick houses, low rise apartments and commission housing right through to modern townhouses.  Adding further flavour to the mix is the increasing number of former industrial-era warehouse and commercial buildings – Brunswick had a sizeable brick industry in the early 20th century - that are being reassigned for residential use.
For those used to the consistency of Melbourne’s inner eastern suburbs, this lack of uniformity can be a little jarring, but it works in this more eclectic part of Melbourne. Indeed, it is embraced by the locals, many of whom see the architecture as an antidote to the conformity and conservatism of Melbourne’s inner east. There is a palpably eclectic, grungy tone to the area but it certainly isn’t an enclave of wide radicalism; for every street artist and hipster there are plenty of white collar professionals and young middle-class families, each of whom appear to be at ease with the other.
The one major difference between the three suburbs is the greater incidence of larger blocks with three- and four-bedroom houses in West Brunswick.
Lifestyle
Brunswick is the ultimate ethnic melting pot with representatives of every wave of migrant intake from the last 60 years settled in the locality, each adding to the character and charm of the region. Of these, the Greek and Italian communities are most prominent, but increasingly Brunswick is a layering of European and Asian cultures in a contemporary Australian setting. As is usually the case, the public expressions of these cultures is most apparent in the meeting and eating places on the main thoroughfares. In the Brunswicks the most interesting streets are the north-south arteries: Sydney Road, Lygon Street and Nicholson Street.  It is essentially the location of these bustling strips that probably make Brunswick and East Brunswick more dynamic propositions than West Brunswick for those seeking a lively inner suburban lifestyle.
Investment potential
You could conceivably have a parlour game about which of the Brunswicks you would invest in.
Taken as a whole, the unseen hand of the market rates East Brunswick as the most valuable, with a median value of $669,000 according to Australian Property Monitors.  But Brunswick and West Brunswick aren’t far behind at $625,000 and $603,000 respectively.  Brunswick East’s higher rating is likely due to the suburb’s proximity to the uber-desirable Carlton and Fitzroy locations.
The Brunswicks are a classic illustration of the maxim that when you’re investing, you are buying the locality and its general amenity as much as the individual property itself. Nevertheless, not every street and property meets the grade. And in the Brunswicks, it is only a small fraction of the area’s properties and precincts that I would consider blue chip. These gems are on the quiet streets with relatively consistent architecture that are close to public transport and the shopping strips.
Over the years, we have found that Brunswick proper has been the happiest hunting ground for property investment.  That in part is a function of its larger size – there is simply more choice – but also because of the greater public transport options and overall higher levels of amenity.  Brunswick East is a somewhat distant second followed by Brunswick West.  With its larger blocks, the latter tends to lend itself more to homebuyers rather than investors – especially those upgrading – who are looking for several bedrooms and a more affordable price than Brunswick proper.
Undoubtedly, the appeal of the Brunswicks will continue to grow as its housing stock and streets are further gentrified. They’re definitely three to watch!

<hr>
Monique Sasson Wakelin is a director of <a target="_blank" href="https://wakelin.com.au/">Wakelin Property Advisory</a>, an independent firm specialising in acquiring residential property for investors. 
You can contact Monique on <a target="_blank" href="https://twitter.com/WakelinProperty">Twitter</a>.
 
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Get to know the Brunswicks like the back of your hand with Monique Sasson Wakelin

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The Melbourne office market has become the focal point of offshore buyer activity, with more than $100 million worth of office stock changing hands in the past week.
In the latest transaction, a Singaporean listed company Hotel Grand Central has purchased a strata office building in the heart of the city for $48.5 million.
{yoogallery src=[images/stories/2013/09/10/melb]}
The 300 Flinders Street (pictured above) transaction comes just a day after Hiap Hoe - another listed Singaporean property company - made a $43.8m purchase of an office building in nearby, 380 Lonsdale Street (pictured below).
<img src="/images/stories/2013/09/10/melbourne_sept_10_four.jpg" width="470" height="351" alt="melbourne_sept_10_four">
At $48.5m, the 300 Flinders Street deal represents one of the largest transactions in the city for a strata property.
The 12-storey strata building is owned by the Victoria University and was sold on a yield of 8.3%, through selling agents Clinton Baxter and Nick Peden of Savills.
The agents noted that while the property attracted numerous tenders from local and offshore parties, the strongest bidding came from Singapore an Malaysia.
Research from Savills showed that foreign investment in Melbourne’s CBD is at record levels. It estimates the foreign ownership market share is around 25% so far this year, following a spending spree of upwards of $260 million since the end of June.
On the same day the Flinders St transaction was revealed, a private developer based in mainland China snapped up a prime Bourke St office building for $15 million.
{yoogallery src=[images/stories/2013/09/11/melb]}
The 472 Bourke Street property (picture above), formerly known as Equity Chambers, sits on an 1162 square metre site with "significant development potential", according to the Savills selling agents, who also negotiated the sale.
"There are many reasons behind these recent sales, chief among them being Melbourne’s nomination as the world’s most liveable city for the third year in a row, access to our highly regarded education sector, and the low Australian dollar which is providing exceptional value for off-shore buyers due to the favourable exchange rate"' said Mr Peden.
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Melbourne office market hub for offshore buyer activity

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Investment activity in Victoria's retail market has soared to the highest level since the global financial crisis, a new CBRE report has revealed.
Strong buyer interest from international investors and institutional groups saw the state's retail market emerge as the epicenter of investment activity, with CBRE's Australia MarketView report showing Victoria accounting for 46% of all national transactions in the second quarter of 2013.
"Over the first half of 2013, retail investment levels were at a five-year high, with the low interest rate environment and strong performance of retail assets – particular non-discretionary - seeing investors show renewed levels of confidence in both regional and CBD markets,” said CBRE director of Victorian retail investments Mark Wizel.
The spike in investment activity comes despite a broader trend of weak retail trading conditions across the country.
At the centre of that buying activity was Victoria’s neighbourhood shopping centre market, with Mr Wizel citing a wide range of private and corporate acquisitions such as ISPT’s purchase of 75% interests in over 20 Coles developed properties and SCA Property Group’s acquisition of the Lascorp portfolio.
Partly driving that higher investment activity in neighbourhood shopping centres was a shift in consumer spending towards food retailing.
CBRE Senior Retail Research Manager Tammy Smith said the change in investor sentiment was the result of an economic shift and the move towards non-discretionary spending.
The report showed that while Victoria’s retail turnover figures in the 12 months to June 2013 were below the national average – recording no growth over the period – supply levels and rents have continued to trend upwards.
In the 12 months to June, metropolitan regional rents rose to between $1,385 per square metre and $2,615 per square metre, CBRE figures showed, while neighbourhood centres benefited from the large food based tenant mix to record a 3.1% lift in rents annually.
However, the large discretionary spend exposure of sub-regional centres, saw rents drop 4.1% to sit between $598 per square metre and $1,317 per square metre.
The CBRE report also indicated that the Melbourne CBD market could be the next hub of invesment activity.
“We believe that for the first time in four years, confidence within the Melbourne CBD tenancy market has exceeded that of the investment market – ultimately this means that over the coming months the investment market will respond in a positive manner,” said Mr Wizel.
"Asian investment within the Melbourne CBD, and specifically for retail properties, is currently at unprecedented levels, with properties ranging in value from $2 million to $100 million attracting interest from both Asian investors living locally, as well as offshore-based investors looking to deploy funds to the state’s capital city.”
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Victorian retail market at highest level since GFC: CBRE

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Dolce and Gabbana spent five years searching for a suitable location for its first Australian store it revealed at its Melbourne opening last night.
The choice was between Sydney and Melbourne and like most luxury retail brands they were looking to nestle in next to Louis Vuitton.
In Melbourne the fashion house wanted nothing less than the iconic Collins Street for its two-storey flagship. The strip is already home to other high-end brands like Chanel, Prada, Hermes, Cartier, and Gucci.
Despite initial hopes of a large box-shaped space they have settled with a two-storey shopfront straddling both sides of the archway entrance of the newly renovated 171 Collins Street office building.
The design effectively splits the shop into two distinct sections with two separate entrances. Journalists were carefully guided through the appropriate entrance at its opening last night.
In keeping with company policy, no one from D&amp;G was authorised to speak on the record.
The tower it’s nestled in is a Premium Grade 6 Start Green Start building – one of Victoria’s first.
Tenants in the building include BHB Biliton, Evans &amp; Partners, Egon Zehnder International and a new Andrew McConnel restaurant facing Flinders Lane.
The building includes access to a hotel-style concierge.
Leasing Information Services managing director Simon Fonteyn said he’s not surprised they had to wait so long to find the spot.
“They need to establish a flagship, and flagship locations in the CBD are difficult to obtain,” he says. “There’s a lot of competition from the larger international brands for these sorts of locations.”
For international brands looking to establish a foothold in Australia’s fashion market, flagship stores serve as a marketing and distribution hub in addition to making sales, he says.
“It’s a promotion strategy, particularly for a company like D&amp;G. They’ll be a major supplier to other stores in things like sunglasses, so it’s important for them to showcase the brand like that. It’s a very typical strategy, and one also followed by retailers like Zara and Topshop.”
After the flagship comes the rollout to the other capital cities, or, depending on the brand, to the suburbs.
While not all businesses can wait five years for the right location, nor need a space the size of D&amp;G’s new store, Fonteyn says putting solid effort in to getting the right location for your business is vital.
And he says if you’re not looking for a high-profile flagship CBD location, it’s a tenant’s market at the moment.
“For D&amp;G, there’s an excess of demand for supply for these types of locations.
“But in shopping centres, the market is very soft.”
At its half-year corporate results briefing towards the end of last month, Westfield Group revealed its <a href="https://www.smartcompany.com.au/retail/057262-westfield-has-no-choice-in-decision-to-negotiate-lower-rent-on-new-leases-experts-suggest">new tenancy contracts could be lowered by up to 10%</a>.
It was the latest sign of a retail leasing sector under strain. Tough retail conditions are causing lower renewal rates, in turn putting pressure on the leasing sector. For retailers, this makes it a good time to upsize to a better location if you can afford it.
Fonteyn says it’s probably the last major announcement he would expect in the retail property space until the end of the year.
“Traditionally, retailers stop leasing permanent space around October as everyone gets ready for Christmas,” he says. “So, if they do deals after that, the stores won’t open until after February at least. It’s getting towards the end of the retail leasing season.”
 
<hr>
 This article originally appeared on <a href="https://www.smartcompany.com.au" target="_blank">SmartCompany</a>.
 
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