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

Joel Robinson

Conquest partners with Woolworths to deliver mixed-use Waterloo project

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

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

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

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

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

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

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

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

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Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

<html><body>Australian Property Monitors (APM) has released a list of results from 245 auctions in Melbourne for the weekend of  August 3. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for August 3 weekend

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Melbourne, the focus of this week’s Property Observer webinar, is the major city where buyers need to be most selective.
As is often the case in big-city markets, the growth is not evenly spread throughout the metropolitan area, there are also pockets of serious over-supply that wise buyers would avoid.  
The generalised situation for Melbourne is that there is solid growth in prices this year.
Disregarding the bullish (that’s bullish, not bull$#*+) data spewing forth from the Real Estate Institute of Victoria, both Australian Property Monitors and RP Data record moderate growth in median prices for both houses and apartments in the June Quarter and for the 12 months to June.  
Both research sources report a 4.2% rise in the Melbourne apartment market for the past year.  
APM says the median house price has grown 6% in 12 months, after a 2.7% increase in the June Quarter, but there are considerable differences across the various sub-markets in the city.  
According to APM, the highest annual growth has been experienced in the outer east precinct of Melbourne, up 9.3%. The area is predominantly a mix of bottom-end suburbs and middle-priced suburbs.  
The western suburbs, mostly the cheaper end of the market, have recorded annual growth of 7.2%, as has the inner-city housing market.  
The areas described by APM as inner east, north-east and north have all done fairly well also, with annual growth in 4-6% range.  
The inner south-east, which contains most of Melbourne’s million-dollar suburbs, has been a moderate performer only, with a 3.5% rise over 12 months.  
These figures, describing median price increases in the past year, generally (but not totally) correlate with my figures for long-term growth across Melbourne.  
Figures for the average annual growth in median prices over the past 10 years show that lower-end suburbs and middle-range suburbs have delivered the best performance.
The top five suburbs across the Melbourne metropolitan area for long-term growth rates are all outer suburbs in the more affordable prices ranges. All have average annual growth rates better than 8.5%.  
The list of the top 20 performers is dominated by suburbs in the outer east and outer south-east regions of Melbourne. Only one million-dollar suburb makes that list – and that is Balwyn, which has been consistently the best performer among the prestige suburbs in recent times.  
The list of poorest performers features many inner-city suburbs.  Six of the eight worst suburbs are in the inner-city areas, most of them with growth rates below 3.5% per year.  
The millionaire suburbs generally have been middle-of-the-pack performers. Balwyn has been the best of them, with an 8% growth rate. Most of the suburbs with median prices above $1 million have growth rates in the 6-7% range – far from disastrous, but well short of the city’s best.  
The worst of them is the most expensive. Toorak, with a median house price above $2 million, has a long-term growth rate of just 5.6%.
Compare that to more affordable suburbs from the outer reaches of the city, like Narre Warren, Kinglake, Yarra Junction and Springvale, which all have growth rates around 9% per year.  
None of this correlates with the song sheet of many property “professionals”, who sing the praises of the “prime” suburbs as places with superior growth. Nowhere in big-city Australia is the chorus about buying in the better suburbs louder than in Melbourne.  
And nowhere are they more out of tune with the research data than in Melbourne.  
But there’s one part of the Melbourne market buyers should avoid more than the inner south-east – and that is the inner-city apartment market.  
There are already high vacancies – including 7% in Docklands and 9% in Southbank – but vast new supply is under construction. Around 300 new projects with 35,000 units are currently being marketed. Developers cannot find local buyers without extravagant incentives and giveaways so they’re selling much of their new product to unsuspecting foreign buyers.  
Steer clear of this market and concentrate on affordable housing markets in the middle and outer ring suburbs.
 Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">hotspotting.com.au</a> and you can contact him at <a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a> or <a target="_blank" href="https://twitter.com/hotspotting">twitter.com/hotspotting</a>.
If you missed the July 31 webinar, you can also <a href="/news">sign up to recieve Terry's slides </a> on the Melbourne property market. 
 
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Buyers need to be selective in the Melbourne property market: Terry Ryder

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State Opposition Leader Daniel Andrews today is expected to publicly oppose construction of the controversial $7 billion East-West road tunnel.
His party’s view is that the State Government has not adequately justified the most expensive infrastructure project in Victoria’s history.
Labor’s alternative includes a version of the WestLink freeway through the inner west and a series of traffic measures to improve traffic flow along Hoddle Street.
The Victorian Government Minister for Planning, Matthew Guy, has already posted his retort however, taking to Twitter this morning to let his 3,000 followers know his opinion on Daniel Andrew's announcement:
<a href="https://twitter.com/MatthewGuyMP" target="_blank"><img src="/images/stories/2013/07/tweetofthedayjuly31.jpg" width="470" height="79" alt="tweetofthedayjuly31" style="font-size: 0.8em;"></a>
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Matthew Guy hits out at Labor's opposition to East-West tunnel

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There have been some positive developments for the struggling Bridge Road discount fashion retail strip in Richmond with recent sales and leasing deals taking place.
In addition a trend of pop-up shops on short term leases to fill up vacant space on Bridge Road is also emerging.
However, some properties have changed hands at 30% plus discounts to previous sales prices while rental discounts of up to 30% remain on offer.
Last year Property Observer reported that <a target="_blank" href="https://www.propertyobserver.com.au/retail/melbourne-shopping-strip-bridge-road-richmond-has-highest-vacancy-rate-in-five-years/2012091656593">Bridge Road's vacancy rate has risen from 2.9%  to 11.5%</a> over the past two years having had the lowest vacancy rate of 11 suburban shopping strips five years ago.
Recently, Fitzroys senior associate James Gregson sold a substantial freehold at 113-115 Bridge Road to a local investor. The price was not revealed but it was advertised with $3.2 million hopes in April.
The fully refurbished property is leased to fashion retailer Witchery on the ground floor, and also includes two first floor apartments.
It is located on a site area of 268 square metres with two street frontages including a 10.53 metre frontage to Bridge Road.
Gregson said the purchaser realised the potential and significant upside in Bridge Road.
“There aren’t really any other key Melbourne retail strip locations in which you can get a 6%-plus return, leased to a national tenant with long-term development upside,” he said.
Another site, 656-658 Bridge Road, sold at auction for $1.905 million also through Fitzroys, a yield of around 5.2%. The site sold with its ground floor vacant and the first floor subject to a short term lease.
It previously sold for $2.75 million in November 2009 - a discount of 32% on the last sales price.
Gregson notes that leasing activity on Bridge Road had picked up, with a number of recent lettings including that of international cosmetics company L’Oreal.
Fashion retailer Romulus &amp; Remus signed up at 648 Bridge Road, and the old IGA site at 29 Bridge Road was also leased.
Agent James Lockwood said that although food tenant enquiry had pushed up total interest volumes, some rents had softened, with discounts of up to 20%-30% being offered.
Gregson along with Fitzroy's director Mitchell Humphreys, has also listed the iconic Groove Train restaurant at 314-316 Bridge Road.
The property is leased to Groove Train on a long-term lease and is expected to sell for in excess of $2 million.
Bec McHenry, founder of industry collective for pop-ups, PopUnion, says the Bridge Road strip has changed significantly over the last few years.
"It is no longer the fashion 'destination' it once was, and this has meant the rents are no longer at the level they once were.
"Therefore, traders and owners alike have had to come to terms with some harsh commercial realities in the face of these changes. 
"Not everyone has embraced the concept of pop-up though, and rightly so.
"In it's current form, short term leasing is difficult for agents to manage profitably.
"There is a a lot of work involved, and the gains minimal in comparison to long term leasing commissions. The reality is, pop-ups don't just pop up out of nowhere, and there are significant barriers to entry for property owners and managers when it comes to embracing short term tenants.
"In light of this, we are working hard through PopUnion, to streamline the processes associated with pop-ups so more agents/owners can activate them in their properties, making short term profits whilst remaining open to long term leasing opportunities."
A permanent pop-up shop is now in operation on Bridge Road with rotating tenants.
"The owner has embraced the pop-up concept, and now offers his shop out to short term tenants on a monthly rotation - not because he can't get a long term lease, but because he recognises the value of and demand for pop-up. A great example of how pop-up will endure beyond times of economic uncertainty," says McHenry.
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Some signs of life "pop-up" on Bridge Road as Witchery premises sold and leasing deals done

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Former Hunters and Collectors guitarist, Barry Palmer and his interior designer wife, Jodie Cousins’ Kew home was this week’s most expensive sale, according to RP Data.
Located at 108 Sackville Street, the six-bedroom home (pictured above) sold at its July 27 auction for $3.362 million.
Barry Palmer (pictured below) joined the iconic Australian rock group Hunters and Collectors in 1988 and played guitar on hits 'When the River Runs Dry' and 'Holy Grail' among many others. He and and his wife are planning to relocate to Los Angeles later this year.
<img alt="barry-palmerjuly30" height="390" width="470" src="/images/stories/2013/07/barry-palmerjuly30.jpg">
Situated on 921-square-metres, the five split-level home was built in 1974 by architect Ken Edelstein.
Palmer and his wife bought the property 13 years ago and have since given it a few cosmetic touches.
The home features vaulted ceilings, exposed beams and polished concrete floors.
The ground level includes a Euro stainless steel hostess kitchen and a gymnasium and the lower level features a basement games room and theatre. 
Located on an L-shaped block, the home includes a built in BBQ, pool and spa, in ground trampoline and a skate ramp.
Over 120 people attended the auction and it was a bid-out between three bidders, according to Mal James of James Buyers Advocates.
“This is a true entertainer’s home,” says James.
James says it’s in a great position, near a lot of quality schools and public transport, however does not have a brilliant front to back flow.
“The secondary bedrooms don’t really connect up or down easily or directly to the bathrooms, and at the end of the day the materials are basic,” says James.
The property was sold through Stuart Evans and Duana Wolowiec of <a href="https://www.marshallwhite.com.au/sold/5733007/" target="_blank">Marshall White Real Estate Hawthorn.</a>
The median house price in <a href="/news">Kew</a> is $1,380,000, according to RP Data.
Top 10 most expensive sales:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/108_sackville_street_kew_vic_3101/11356482" target="_blank">108 Sackville Street, Kew, VIC, 3101,</a> six-bedroom house, sold at auction on July 27 by Marshall White Real Estate Hawthorn for $3.362 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/84_canterbury_road_middle_park_vic_3206/11776141" target="_blank">84 Canterbury Road, Middle Park, VIC, 3206,</a> four-bedroom house, sold at auction on July 27 by Cayzer Real Estate for $3.055 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/14_firth_avenue_strathfield_nsw_2135/6484603" target="_blank">14 Firth Avenue, Strathfield, NSW, 2135,</a> eight-bedroom house, sold at auction on July 27 by Strathfield Partners Strathfield for $2.8 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_botanic_road_mosman_nsw_2088/4478288" target="_blank">12 Botanic Road, Mosman, NSW, 2088,</a> three-bedroom house, sold on July 23 by Richardson &amp; Wrench Mosman/Neutral Bay for $2.75 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/36_feez_street_yeronga_qld_4104/15927680" target="_blank">36 Feez Street, Yeronga, QLD, 4104,</a> six-bedroom house, sold at auction on July 25 by Ray White South Brisbane for $2.62 million 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/65_glassop_street_balmain_nsw_2041/1256075" target="_blank">65 Glassop Street, Balmain, NSW, 2041,</a> four-bedroom house, sold at auction on July 27 by McGrath Estate Agents for $2.5 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24/93_elizabeth_bay_road_elizabeth_bay_nsw_2011/2232164" target="_blank">24/93 Elizabeth Bay Road, Elizabeth Bay, NSW, 2011,</a> three-bedroom unit, sold on July 23 by Richardson &amp; Wrench Elizabeth Bay/Potts Point for $2.3 million 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/9_carrington_avenue_bellevue_hill_nsw_2023/1368831" target="_blank">1/9 Carrington Avenue, Bellevue Hill, NSW, 2023,</a> three-bedroom unit, sold on July 23 by BHR Estate Agents for $2.125 million 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22a_gregory_street_south_coogee_nsw_2034/6255318" target="_blank">22a Gregory Street, South Coogee, NSW, 2034,</a> three-bedroom house, sold on July 24 by Eastside Realty for $2.1 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/38_broome_street_cottesloe_wa_6011/11942318" target="_blank">38 Broome Street, Cottesloe, WA, 6011</a>, three-bedroom house, sold on July 25 by Acton Cottesloe/Peppermint Grove for $2.055 million
Picture of Barry Palmer courtesy of  <a target="_blank" href="https://www.humanfrailty.com.au/">humanfrailty.com.au</a>.
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Hunters and Collectors' guitarist Barry Palmer's Kew home most expensive sale: RP Data

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WBP Property Group chief executive Greville Pabst looks at leafy Melbourne suburb South Yarra through the lens of an astute property buyer. 
Greville labels the area as ‘capital growth central’ and after identifying Domain Road Hill and its surrounding streets as the pinnacle of good buying in the area, he identifies other local streets that carry great potential for property investors. 
It’s difficult to go wrong when investing in South Yarra, with its proximity to the CBD, the Royal Botanic Gardens, the MCG and Melbourne’s premium shopping precinct on Toorak Road and Chapel Street.
Property investors will learn about what they can expect and where they may have to compromise when investing in South Yarra. 
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WBP Property Group's Greville Pabst explores South Yarra

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Craigieburn is the most popular suburb for young buyers in metropolitan Melbourne, followed by Pakenham, Point Cook, Berwick and Tarneit, says the REIV.  
This is because these suburbs are more affordable than those closer to the CBD. Young buyers have not had the time to build up their savings, which reduces their levels of equity, making them more price sensitive, the research found.  
Median house prices in these outer suburbs range from $315,000 to $460,000, typically translating to average mortgage repayments of around $2000 to $3000 per month.  
Regionally, the most popular towns are Traralgon, Mildura, Shepparton, Warrnambool and Grovedale. Median house prices here range from $222,000 to $364,800. This equates to average mortgage repayments of around $1300 to $2300 per month.  
The REIV says the average age of mortgage holders in Victoria is 32, according to the 2011 Census. It estimates that around 19% of individual mortgage holders are aged under 30.
While the REIV analysis confirms the long term trend for young buyers to move to the outer growth suburbs, it says it is ‘’reasonable to expect that, as housing density increases in the inner city, there will also be an increasing number of young buyers there.
‘’However, at this point in time, the overall volumes are low compared to the outer suburbs.’’
This concentration of younger buyers in growing new suburbs has obvious impacts on the provision of services by governments as their children require child care, schools and recreational facilities.
The REIV research found the majority of mortgage holders, 53%, are aged 35-54 with the highest concentration between 40 and 44.
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Young buyers moving to outer Melbourne suburbs: REIV

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A purpose-built student accommodation property in North Melbourne has been listed for sale.
The <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-north+melbourne-500822239" target="_blank">Jones Lang LaSalle</a> marketing gives a projected net income of $4.6 million for this year. 
RMIT Village, located at 5-17 Flemington Road, can house up to 456 residents in 229 apartments of various configurations. One-bedroom, two-bedroom, three-bedroom, and five-bedroom apartments are available for rent in either 44 or 52-week terms.   
Facilities on site include a gym, pool, study area, games room, bike storage, and a licensed café. It is managed by the Campus Living Villages Fund, which is in turn managed by the Transfield Holdings Group.  
Established in 2007, the Campus Living Villages Fund manages 35,000 beds in Australia, New Zealand, the United Kingdom and the United States as of 12 June this year. Of this, 9,100 beds are located in Australia.  
<img alt="northmelbournejuly29" src="/images/stories/2013/07/northmelbournejuly29.jpg" width="470" height="264">
The RMIT Village used to be the Old Melbourne Hotel. It is close to Melbourne University and is about 15 minutes away from RMIT.  
The hotel was purchased for $40 million in 2005, and converted into student accommodation by the vendors, Transfield and private developer Tuscan Corporation. The estimated end value of the converted property was $60 million, and the property is expected to attract interest of that value.  
<img alt="northmelbournejuly29two" src="/images/stories/2013/07/northmelbournejuly29two.jpg" width="470" height="220">
Jones Lang Lasalle director of student accommodation Conal Newland told Property Observer that the property has been “100% full for the last three years”.  Conal Newland has the property listed with colleague Noral Rich with offers due by August 28.
Newland revealed that 9% of students in Melbourne currently live in purpose-built student accommodation. In comparison, 21% of students in London take up purpose-built student accommodation properties.  
<img alt="northmelbournejuly29three" src="/images/stories/2013/07/northmelbournejuly29three.jpg" width="470" height="265">
“All things being equal, there is a significant shortage of purpose-built student accommodation in Melbourne. This is no different to most of the other major Australian cities,” Newland said.  
“This is a unique opportunity – this property is up and running, and there haven’t been many opportunities like this in the market so far,” Newland added.  
Brisbane-based student accommodation provider The Pad, which currently manages 1,500 beds, recently announced expansion plans to Sydney, Melbourne, and Canberra. This follows the backing of investment group Telopea Capital Partners.
Offers close August 28 for the RMIT student accommodation.
A recent report by the Hong Kong and Shanghai Banking Corporation (HSBC) has found that Australia is the most expensive country for international study, surging ahead of the United States and the United Kingdom.
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Investor interest sought for RMIT village student accommodation

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One of the four Richmond cottages on the hit Nine renovation series The Block 2011 has become available for rent again and the investor will be getting less return on their $860,000 outlay.
Katrina and Amie's house at 41 Cameron Street was the cheapest rental – when listed at $950 a week through Hocking Stuart agent Stephen Chamberlin shortly after the big 2011 auction.
The asking rent for 41 Cameron Street was <a target="_blank" href="https://www.propertyobserver.com.au/victoria/friday-form-guide-yields-of-up-to-7.5-on-the-block/2011081851199/Page-3" title="Friday Form Guide">far higher than what their agent estimated for the possibly unfurnished rental option</a> and at the initial 2011 asking rental, it reflected a 5.74% gross yield.
In July last year it was up for rent again at a $995 asking rent a week and its asking rental reflected around 4.7% rental growth over the year.
But it's now available for lease at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-richmond-408118099">$895 a week </a>through James Delbridge at RT Edgar Boroondara.
The indicative gross rental yield for <a target="_blank" href="/news" title="Richmond">Richmond</a> houses is 3.7%, according to RP Data. There has been a 5% drop in the median house price over the past year to $767,000.
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Your chance to live in the Block - a Cameron Street Richmond cottage at $895 a week

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A studio apartment in South Yarra was the cheapest sale on a recent auction weekend, according to Australian Property Monitors.
The unit at <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-114168607">1/631 Punt Road</a> sold for $203,500 through Hocking Stuart South Yarra.
The unit was listed with a price guide of $170,000 to $190,000.
It had been listed for rent in January last year at an asking weekly price of $260 per week.
Listing agent Nick Gatacre told Property Observer that the unit was currently rented out at $240 per week. According to the rent of $240 per week, the price reflects  a 6.13% yield.
Gatacre also told Property Observer the auction “went well”, with three registered bidders and a starting bid of $170,000.
He added that the reserve price set on the day was $190,000, and the vendor’s expectations exceeded by $13,500.
He also revealed that the successful bidder was an investor who had already purchased another unit in the building.
The 1960 block of flats at 631 Punt Road is made of up studio apartments. Recorded sales include unit 21 which sold in 2003 at $104,500, unit 26 fetched $93,000 in 2002 and unit 4 sold at $71,500 in 1997.
According to RP Data, 4/631 Punt Road was listed for sale in 2010 for $279,000, with no subsequent record of its sale. The unit 9/631 Punt Road was listed for sale in 2009 for $210,000.
In addition, asking rent for units have ranged from $237 per week to $295 per week over the past two years.
Gatacre told Property Observer that size is a considerable factor where sale prices are concerned.
“They are all studio apartments with one open area and no separate bedroom. That means they are the smallest on the food chain in terms of property you can buy.
Also, it is located on Punt Road, which is the main road. It makes it affordable for those who want to buy a property in South Yarra, and it’s pretty close to Fawkner Park,” he said.
He added that the condition and location of the unit within the building is a factor for determining asking rent.
“It depends on their condition – also, some are at the back of the block, while some are at the front,” he said.
Gatacre also said the property market in South Yarra is currently “quite strong”.
“The last two years, 2011 and 2012, were initially a little down compared to 2010.
"This year, we've seen interest rates coming down and becoming much more affordable for lending. The market's picked up due to that. Prices bottomed out towards the end of last year and slowly increased. It’s picked up and gone up since then, not dramatically, but the market's gone up a bit,” he said.
The apartments have traditionally been listed quite cheaply compared with other units in South Yarra.
According to the <a href="/news">latest RP Data report</a>, the median sale price for units in South Yarra is $522,500, down 4.6% on last year. The average discount required to sell a unit in South Yarra is 8.1%, while private treaty sales average 98 days on market.
The median asking rent for South Yarra units is $400 per week, while gross rental yield currently stands at 4%.
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