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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Melbourne City has again attacked a mooted 72-storey residential tower on Southbank, describing it as “oppressive”.
It says Urban Matrix’s 240 metre plans for 54 Clarke Street will cast shadows on public spaces and dominate the view of neighbouring buildings.
<img src="/images/stories/2013/10/1.jpg" width="418" height="558" alt="1" style="display: block; margin-left: auto; margin-right: auto;">
''The sense of containment would be substantial and oppressive, particularly for dwellings at the lower levels,'' a council report viewed by Fairfax Media says.
The building is being reviewed by the state government after planning control changes nullified a previous approval.
BKK Architects director Simon Knott says the tower will become an icon for those travelling on the West Gate Freeway.
''Because it twists as you move around that bend, the whole building will twist and turn. It's almost like the building is alive,'' he told Fairfax Media.
He says south-facing apartments in the neighbouring building would keep their views, including of the Royal Botanic Gardens.
''The building will sit down one side of the view - it's anything but oppressive.”
<img src="/images/stories/2013/10/2.jpg" width="470" height="265" alt="2">
Units in the previously approved designs started from $340,000 for one bedroom and from $400,000 for two bedrooms.
In February Robert Doyle said the building was more than 100 metres taller than preferred by the council.
The 239 square metre site is the former premises of a motor repair firm.
<img src="/images/stories/2013/10/3.jpg" width="470" height="353" alt="3">
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Melbourne council attacks 240 metre Southbank development

<html><body>Australian Property Monitors (APM) has released a list of results from 248 auctions in Melbourne for the weekend of  September 7. <a rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for September 7 weekend

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Property prices at Epsom, near Bendigo, are expected to receive a boost with the state government announcing plans for a railway station in the fast growing suburb.
The $7.76 million Epsom and Eaglehawk rail improvements project, to begin early next year, will provide easier access to transport for residents of the growth suburb seven kilometres north of the Bendigo CBD.
The station will be on the Echuca line, south of Howard Street, between the railway line and Station Street. It will be fully accessible and provide parking for 60 cars.
Transport minister Terry Mulder said the new station would encourage people to travel by train – rather than car – for trips to Bendigo, Echuca and Melbourne.
Growth areas such as Maiden Gully, Strathfieldsaye, Ascot-Epsom and Huntly have had significant residential development in more recent years and are attractive to couples and families seeking new housing opportunities.
Local real estate agent Andrew Murphy, of Mawby Real Estate, said the station would have a ‘’positive impact’’ on house prices in the Epsom-Huntly growth corridor.
‘’People like to be close to infrastructure, such as transport, roads, schools and shops, especially if they are young families.’’
He said Epsom was popular with first home owners and investors looking to take advantage of cheaper start-up costs. It has a shopping centre and sports fields. The new railway station would enhance these features.
Estate agent Adrian Robinson, of BRE Bendigo, said improved transport and communication were ‘’all good’’ for the area which was experiencing solid growth.
‘’Everything’s happening there,’’ he said. ‘’The area is popular with younger residents and investors and the new station will be right in among the shopping centre – it will be a community hub.’’
Murphy said the local real estate market was ‘’ticking along quite nicely’’ achieving 6% growth over the past 12 months, backed by strong population growth.
He said renters were seeking larger homes, with three bedrooms and a study, or four bedrooms, on decent size blocks, and paying around $350 per week.
He said often renters would move into an area, attracted by developments, such as the $600 million Bendigo hospital project. They would rent in the short term before ‘’getting established and opting to buy’’.
Bendigo, with a population of 110,000, is expected to grow by 36,400 in 2031 – up 33% over the next 18 years. The goldfield’s city is about one and a half hours north of Melbourne.
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Boost expected for property prices in Bendigo suburb

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New statistics from the Victorian Building Authority (VBA) have found that from January to July 2013, building permits have increased compared to the same period in 2012.
Over the 2013 period a 3.3% increase was recorded by the VBA, a result that VBA chief executive officer, Greg Hyams, believes is a positive result for the Victorian building industry.
“There were three significant levies collected in July that helped make this the highest one, but given there were also increases across several categories, these are positive results and bode well for the industry’s future,” Hyams said.
“In five of the seven building categories – residential (including high rise) commercial, hospital and healthcare, retail and industrial – the value of permits was higher for the period.”
Residential, including high rise, was up by 22.6% over the period compared to that in 2012. Retail rose by 31%, hospital/healthcare by 26.8% and industrial by 12.4%.
The only two sectors to see a decline were domestic and public buildings, with declines of 2% and 25.7% respectively.
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Building activity records jump in Victoria

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Melbourne-located buyer’s agents have hit back against comments that investors should take their money to other cities than Melbourne, with a number saying that it represents good buying opportunities.
In response to <a href="https://www.propertyobserver.com.au/victoria/investors-warned-to-avoid-buying-in-melbourne/2013090264736" target="_blank">yesterday’s story</a> where investors were warned to avoid Victoria’s capital by wHeregroup’s Todd Hunter and BIS Shrapnel’s Angie Zigomanis, Wakelin Property Advisory’s Monique Wakelin came out in defence of the city.
“I’m frankly not interested in [Zigomanis’] charts, numbers and statistics."
“I see with my own eyes people queuing up at auctions, first-home buyers come through the door of this office hysterical as they can’t afford a place to live and I’d like Mr Zigomanis to tell me how he’d like to solve the affordability crisis in this country other than to build more dwellings,” Wakelin said of the accusations the city is in an oversupply.
While she admitted that yields were low across the city, she argued that this is only part of the picture for investors, with capital growth being the name of the game for Melbourne investors.
“He should understand that investing in property is probably only 30 to 40% about the yield and the main game of investing in residential property, he clearly doesn’t understand a thing about the residential market as the [main] game is about asset growth,” she said.
“I have read all of BIS Shrapnel’s prognostications and reports and I’m struggling to remember a single instance whenever they’ve been right.”
With the population growing strongly, she argued that it’s not the case that the city is oversupplied.
Docklands, Wakelin noted, is an exception with a lot of supply being evident. However, the new unit market is not where the savvy investors are looking.
“If he truly wants me to believe that the inner city unit developments, at zero to two kilometres, is going to completely undo the entire Melbourne property market then he should stick to comment on what he knows about, which is probably the stock market,” Wakelin said.
“Clearance rates do not necessarily measure whether the market is pricing itself up or pricing itself down. They measure the level of supply to demand and it was at 72% this weekend just gone. That is still telling me there is pent up demand and insufficient supply. If it drops to something in the 60% range then it’s closer to balanced. Clearance rates are very good at measuring over supply.”
Empower Wealth’s Cate Bakos also criticised the comments made yesterday, arguing that it generalised the entire Melbourne market.
“Melbourne does have terrible yields and in the short-term they have been pretty rubbish for quite some time but that’s not why anyone would invest in Melbourne,” Bakos said. Yield-chasing investors would do well elsewhere.
“I’m surprised that those comments were made at this stage of all times in the last two years as it’s in an upwards trajectory right now and it’s very hard to put a value on anything in such a buoyant market.”
Results Mentoring’s Brendan Kelly also said that in every market there are opportunities for investors, and Melbourne is no exception, perhaps even due to the repressed conditions.
“If you have a 30-year buy and hold in mind and Melbourne is meant to be the dreadful, miserable arm pit of Australia then doesn’t it make it good for a buy and hold for growth?
“Quite frankly, if yield is your primary driver then don’t buy in a city, or buy commercial. If you’re excited about a 3% yield then put cash in bank.”
Wakelin’s tips for buying in the Melbourne market:
- Aim for within two to 12 kilometres of the CBD
- Look for established stock rather than new
- If buying an apartment seek out those from the 1930s to the 1970s and always elect for parking
- If looking over $650,000 then look for two-bedroom period-style properties from the 1880s to 1940s  
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Melbourne buyer’s agents slam analysts

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Investors are being warned to steer clear of the Melbourne market, with poor yields and an oversupply in the foreseeable future making other areas more attractive.
Pointing to a large number of potential land releases across Melbourne, and the mass of units still in the pipeline, wHeregroup buyer’s agent Todd Hunter told Property Observer that he is steering clear of Victoria’s capital.
“It was heading into an oversupply about five years ago,” Hunter said. “[Properties] are only achieving 3% to 5% yield and that’s terrible. You may as well have your money in the bank in a cash account.”
BIS Shrapnel’s Angie Zigomanis agreed with this analysis, noting that there’s still a large pipeline of units under construction that have yet to come through to completion due to longer lead times.
“The flipside with land is that it can be switched on very quickly [in Melbourne],” said Zigomanis.
“Compared to three or four years ago, there are more estates are coming onto the market so there’s not as likely to be as much pressure on prices from a supply perspective.”
With auction clearance rates improving, interstate investors might be under the assumption that the market is picking up as well, however this isn’t the case, he said.
“It’s a bit misleading in relation to looking at the market from a broad point of view. Most auctions take place in the inner middle suburbs … and people in middle Melbourne are more secure and confident in employment than those on the fringes.”
The unit market is that tipped to move more into oversupply even while from a demand perspective the picture isn’t quite as bleak with population growth still strong, he said.
Mr Hunter also warned that the Sydney market also didn’t present best buying, noting it is too hot, with the best investment opportunities currently presenting themselves in Western Australia and Queensland.


<hr>
Image courtesy of J Kuba/flickr.
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Investors warned to avoid buying in Melbourne

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The Hill of Grace Stud, the 13 hectare Lysterfield property, has been listed for October 5 auction.
With views across countryside to Port Phillip Bay, the property comes with a three level fully glazed four bedroom residence.
There's German kitchen cabinetry, polished concrete floors and stainless steel Rippletone acoustic paneled ceilings. It was built some 10 years ago.
"The result of one man's obsessive attention to detail, the home is totally unique combining both high functionality and beautiful construction with three levels cocooning its occupants in total luxury, comfort and security," says the marketing.
The property comes with solid hardwood post and rail fences, a 20 metre by 60 metre riding arena, cattle handling facilities, and equine loose boxes.
"All built to the same exacting standard," said Peter Watson at First National Real Estate Neilson Partners.
Water is via reliable dam and bore benefited from its foothills location accessible to Melbourne via Wellington Road or the M1 Freeway.
Hill of Grace Stud runs South Devon cattle.
"It is an opportunity to invest in an income producing property with a complimentary high quality lifestyle," Peter Watson said.
It's a registered primary producer and is an opportunity to invest in an income producing property with a complimentary high quality lifestyle.
<a target="_blank" href="https://www.neilsonpartners.com.au/index.cfm?pagecall=property&amp;propertyID=2459328">Peter Watson has the property listed with colleague, Graeme Curtis</a>.
The agents are suggesting "circa $3 million" based on a recent 12 hectare Narre Warren North vacant lifestyle block which sold for $2.26 million.
There was also last weekend's sale of a $2.35 million one acre Berwick property.
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Hill of Grace Stud, Lysterfield lifestyle offering

A five-bedroom award-winning house in Mentone is on the market for $2.9 million plus.

Located at 54 Venice Street, vendor Jim Tsaganas built the home himself in conjunction with Jasmine McCelland Design three years ago.

Situated on 1,112 square metres, the property boasts German timber cladding, bluestone masonry, rough-cast rendering and copper clad pivot entrance door.

The home also includes heated polished concrete flooring and Tasmanian wormy chestnut timberwork.&nbsp;

The property has won many awards include bathroom of the year and kitchen of the year at the KBD Designer Awards 2013, as well as the best bathroom at the HIA Building Awards in 2012.

The residence also includes a suspended pivoting French fireplace in the living room, an outdoor kitchen and a tennis court.

The median house price in <a href="/news">Mentone</a> is $690,000, a 10.4% change in the past five years, according to RP Data.

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Award-winning Mentone trophy house listed

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The owner of prominent bakery business Glick's Cakes and Bagels has put up for sale its head office in Melbourne's Carnegie for about $7 million.
The 4,147 square metre site at 1056-1060 Dandenong Rd, has development approval for a 10-storey apartment building for 174 units.
CBRE's Justin Clarkson and Mark Wizel have been appointed selling agents through an expressions of interest closing on 26 September.
"The development package has all the elements of a significant, landmark residential project in a rapidly growing area which continues to benefit from the nearby and expanding Monash University," said Mr Clarkson.
"By 2030, the Caulfield campus will grow by 87% in size, with this property ideally positioned to take advantage of the growing number of students attending Australia's largest university."
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Carnegie's Glick's Cakes and Bagels head office listed with student accommodation prospects

<html><body>
The northern Melbourne suburb of Broadmeadows - indeed the entire 3047 postcode - ranks ninth on a list of Australia’s most mortgage delinquent postcodes for the June quarter.
Ratings agency Standard and Poor's found nine of the 10 worst performers were in NSW, with Port Stephens topping the list.
The data is collated from residential mortgage backed securities (RMBS) which allow lenders to raise funds by selling bundles of loans to investors. These mostly come from non-bank lenders and financial institutions and sub-prime and low-doc lenders.
Despite some high-profile former residents, ‘Broady’ – as it is affectionately known by locals – has struggled to overcome a ‘battlers’ reputation. This is, in part, generated by a lower household median income than the rest of Melbourne - $762 to $1,333.
The average selling price is $317,900 for houses and $272,400 for units, and the suburb’s median ranks 589 among 849 suburbs in Victoria.
The Broadmeadows median rent for houses is $306 per week and units $286.
The suburb has a higher than average population of those born overseas than Melbourne - 58% born here compared to 65% for the rest of Melbourne.  A high proportion are from Iraq 6%, Turkey 6%, followed by Lebanon 4% and the UK 2%.
The proportion of residents aged 5 to 19 is high at 24%, as is the proportion of residents aged 0 to 4 at 8%.
A high proportion of houses are rented (26%) and there is a high proportion of separate houses (87%).
Crime is disproportionately high, too, with an average rate of 8,032 per annum compared to the rest of Melbourne at 6,733.
Weekly incomes are disproportionately low: residents earning $150 - $249 weekly comprise 8.74% of the population, $250 - $349 (8.81%), $350 - $499 (9.12%), $500 - $649 (13.77%), $650 - $799 (7.58%), $800 - $999 (7.89%) and $1000 - $1199 (8.74%).
In July Property Observer wrote on a mortgagee sale when Melbourne’s cheapest auction sale price was in the northern suburb of Dallas. 

The four-bedroom, one-bathroom Barry Road house was listed by the mortgagees with a $220,000 to $240,000 price expectations.
It for $243,500 after Barry Plant Real Estate marketed the property to first homebuyers, investors and clinic operators.
The <a target="_blank" rel="nofollow" href="https://www.barryplant.com.au/glenroy/index.cfm?pageCall=property&amp;propertyID=2383151&amp;realestate=541_Barry_Road_DALLAS_VIC_3047">original 1960s brick veneer property</a> (pictured below) was previously listed for sale in July 2011 with a guide price of $280,000 to $290,000, but did not sell.
<img height="233" width="470" src="/images/stories/2013/07/dallasjuly10one.jpg" alt="dallasjuly10one">
Its feature built in robes in two bedroom, a large living area with open fireplace, modern kitchen, central bathroom, separate laundry and toilet, gas ducted heating, single car garage and wide side driveway. 

It last sold for $215,000 in mid-2008, reflecting 2.5% annual growth during the past five years. 

The median sale price for houses in Dallas is $270,000, down 8.9% in the past year, <a target="_blank" href="/news">according to RP Data</a>. 

Other recent sales include a five-bedroom property on Phillip Street selling for $365,000 in June and a three-bedroom house on Merino Avenue selling for $260,000 on 3 July this year.
Barry Plant Real Estate selling agent Halil Okur says while there was a lot of interest in the Barry Road property, it would need significant renovations to make it liveable.

“When we took over the marketing campaign, the house was vacant.

“It’s a run-down house. It needs a lot of renovation. When you walk into it, it literally stinks,” he said. 

The buyer was an investor and Mr Okur expects it will return a rental income around $300 per week once its renovated. It would then reflect a 6.4% yield

The contract for the sale had a Victorian Legal Aid caveat on its title.
It was the home of Charbiel Fram who was sentenced to three and a half years jail for attacking his former brother in-law at a Thomastown pool hall in 2010 and is currently awaiting sentencing over an assault at Crown Casino’s Fusion nightclub.
There is a mortgagee sale scheduled for September 7 with a one bedroom unit at <a rel="listingName" href="https://www.realestate.com.au/property-unit-vic-dallas-114532887">4/18 King Street, Dallas</a>.
It's marketed as "mortgagee in possession - an affordable start or excellent investment." 
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Lowe Living set new Melbourne off the plan apartment record

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