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

Selling agents Kay and Burton expect more than $2 million for the Hampton home of Danish fashion retailer&nbsp;Benedicte&nbsp;Olrik.

Her high-end boutique, Olrik Denmark, was established in 2006 sells Danish, European and Scandinavian fashion wear in the city, at Crown and in South Yarra.

The 16 Service Street Victorian weatherboard, circa 1890, has been rejuvenated over the past 12 years. It has five bedrooms and a large formal dining room at the front with bay window, art-deco chandelier, and door out to the return verandah.

There&rsquo;s a formal sitting room/library and the open-plan living and meals area at the rear extends into an atrium with fish pond, deck and alfresco dining area.

The kitchen has a Caesar stone bench-top and five-burner Miele stove and oven. A traditional bathroom has a corner spa while another modern bathroom includes the laundry.

Period touches are the marble fireplaces, polished timber floors, picture rails and return veranda.

A talking point is the 112 year old Chinese elm on the block of 962 square metres. The double carport enters a side street.

<a href="https://www.realestate.com.au/property-house-vic-hampton-112540863" target="_blank">Ian Jackson and Gail Pullen are handling the sale.</a>

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Boutique fashion designer Benedicte Olrik lists Hampton trophy home

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The historic Mebourne waterfront suburb of Williamstown has enjoying solid capital growth over the past five years, increasing by 27% to $890,000 up until the March quarter of this year, according to data from the Real Estate Institute of Victoria (REIV). 
However, growth has since slowed in the June quarter, with the median house price standing at $868,000, down by 0.2% year-on-year, and down 2.5% from the March quarter, updated REIV figures show.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/larry_uploads/williamstown.jpg" alt="williamstown" width="470" height="324">
REIV chief executive officer Enzo Raimondo told Property Observer that “the share of million-dollar home sales has nearly tripled from 12% to 33%” in the last five years.  “It peaked at around 37% of sales in June 2010 and has hovered at around 30% since then,” Raimondo said.  He added that the growth in overall median house price is reflected in the increased activity at the top end of the market.  The most expensive property sold so far in 2013 was a 4-bedroom house along the Esplanade that sold for $2.52 million.  Located 8 kilometres from the Melbourne CBD, Williamstown is a heritage area known for 1800s architecture.
Today, it is a popular area for visitors, with an abundance of cafes, restaurants and bars that overlook Hobsons Bay.  According to the latest RP Data report, the median sale price of houses in Williamstown is $911,500, up 2.4% on last year. The average discount required to sell a house is 6.9%, while private treaty sales average 81 days on market.  The median asking rent for houses in Williamstown is currently $550 per week, while the average rental yield currently stands at 3.1%.  Homes that have sold above the $1.5 million mark include:  - 41 Electra Street (pictured below), a 1850s Williamstown home sold at auction for $1.901 million through Adrian Butera of Compton Green Real Estate Williamstown and Yarraville.   The property was listed with a price guide of between $1.7 million to $1.9 million.  The five-bedroom home features both period and contemporary finishings. The front half of the home retains old-world charm with two large bedrooms, tall ceilings, an original fireplace and a character-rich loungeroom.  It was initially listed with expectations of $1.8 million to $2 million last August, according to RP Data records. 
{yoogallery src=[images/stories/2013/07/july23williamstown1]}
 - 16 Pasco Street (pictured below), which sold for $1.5 million through Sweeney Estate Agents Williamstown.  The four-bedroom two-storey Victorian home features a double frontage, an open living and dining area, as well as a designer kitchen.  It also boasts a plunge pool, as well as a barbecue area.  The house was listed for sale in May this year with a price guide of $1.4 million to $1.5 million, and spent 27 days on the market, according to RP Data records.  Prior to this, the house was also listed for sale in 1999, and spent 113 days on the market. 
{yoogallery src=[images/stories/2013/07/july23williamstown2]}
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dleow-BGaNPbHWyK

Williamstown house price growth slows after strong gains

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I’m never sure what to make of figures from the Real Estate Institute of Victoria. The latest offering, covering price movements in the June quarter, has added to the confusion.
As Property Observer reported on Friday, the <a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-s-median-house-price-up-24-in-june-quarter-reiv/2013071963433">REIV claims a 2.4% increase in Melbourne’s median house price in the June quarter</a>. But the rise was made possible only be a downward revision of the previously-trumpeted March quarter result.
Originally, the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/melbourne-experiences-strongest-march-quarter-price-growth-for-a-decade-with-51-boost-to-%24561000-median-reiv/2013041260356">REIV said the median house price had risen to $561,500 in the March quarter</a> and claimed this was “the strongest March quarter in over a decade”. But now we’re told the real figure for the March quarter was $549,000.
That “strongest result in 10 years” figure, and all the publicity it attracted, never existed.
And without that 2.23% downward revision of the March quarter median, there would have been no growth to speak about for the June quarter.
This calls into question the validity of the latest data which, among other things, claims an 8.4% annual rise in Melbourne’s median house price.
If that were so, Melbourne would be the national leader on house price growth, topping Darwin and Perth. The Herald Sun enthusiastically reported that Melbourne’s housing market had “taken a $44,000 step towards recovery” after “an impressive 8.4% was added to the city’s median house price”.
I’m not sure what to believe. This is especially so because data from other sources does not concur with the REIV figures.
In the March quarter, other research sources recorded only minor annual growth for Melbourne. The Australian Bureau of Statistics reported an annual rise of 1.1% while RP Data said house values were up just 0.3%. But the REIV saw a rise of almost 5%.
The REIV’s figures for the June quarter claim a quarterly rise of 2.4% and an annual rise of 8.4. But RP Data has reported a quarterly decrease of 0.5% in its value index for Melbourne houses and an annual rise of only 3.3%.
Will the September quarter figures from the REIV report another surge in values, assisted by a downward revision of the June data?
I’m particularly skeptical because this is not unusual. REIV figures are always more bullish than those from other sources like RP Data, the ABS and Australian Property Monitors.
We can debate different methodologies and the conflicting results they produce, but there’s a consistent pattern over a number of years of the institute reporting growth figures that don’t correlate with anyone else’s data, including on prices and auction clearance rates.
My view, as <a href="/news">I prepare to discuss Melbourne in detail at the Property Observer webinar</a> on 31 July, is that there is moderate growth in the city’s markets overall, but it’s nowhere near the optimistic view from the REIV.
Terry Ryder is the founder of <a rel="nofollow" href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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terryryder-YECXbqmri2

The REIV's "strongest March quarter in over a decade" for Melbourne never actually existed: Terry Ryder

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Property investors with a "lazy" $500,000 to spend can buy "a substantially better than average house in Mildura" in the Murray outback region in northern Victoria, according to Herron Todd White’s latest market report, which examines investment opportunities under half a million. 
For investors looking to spend $500,000 on an investment property in this region HTW report recommends “instead buying two cheaper properties with a total value of up to $500,000.” 
With “gross rental returns at around 6% for residential property in the $180,000 to $300,000 bracket, but drop off to around 4% for properties valued at over $400,000,” said HTW valuers. 
Houses around the $180,000 to $300,000, provide opportunities to buy either a 1980s or early 1990s three to four bedroom home, sitting on 650 to 800 square metres. 
The other option “is to buy a newer three bedroom townhouse on a low maintenance lot of around 350 square metres, both will offer similar rental returns,” said HTW. 
“While much of the recent construction in Mildura has been aimed at the rental market, rather than owner-occupiers, demand for rental accommodation remains strong, and we foresee no dramatic increase in vacancy rates in the medium term.” 
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gwestgarth-UNyZGFyQQF

Murray region offers 6% gross return opportunity for sub-$500,000 investors: HTW

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The Melbourne median unit price rose 2.8% over the June quarter to $464,500, according to the latest figures from the Real Estate Institute of Victoria.
This follows the March quarter unit median being downardly revised down $456,000 to $452,000.
Unit prices marginally outperformed house prices, which recorded gains of 2.8% over the June quarter.
The strongest gains for units were recorded in the middle Melbourne suburbs, where prices were up 3.5% to $494,500.
Unit prices were up 2.6% in inner Melbourne and 1.3% in the outer suburbs.
The top peforming unit market over the quarter (with more than 30 sales) was Hawthorn with prices up 20.5% to a median of $469,250.
Over the June quarter a two-bedroom apartment  at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-hawthorn-112980723">492 Glenferrie Road </a>sold for $480,000 through Elliott Gill of Jellis Craig Bennison Mackinnon - South Yarra. It previously sold for $370,000 in March 2009, equating to annual growth of around 7%.
Another sale during the quarter was a one-bedroom apartment at 377 Burwood Road which sold for $317,000 through Reilly Waterfield of Hocking Stuart. This was above the price guide of between $285,000 and $305,000
In July a two-bedroom apartment in a  28 Pine Street, which also sold through Reilly Waterfield for $580,000. Another two-bedroom unit in the same complex sold for $550,000 in June last year.</body></html>

lschlesinger-FZcF9M3vE6

Melbourne unit prices up 2.8% in June quarter with Hawthorn units up 20.5%

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Median house prices in the key Victorian regional centres of Geelong, Bendigo and Ballarat were flat in the June quarter in comparison to Melbourne which experienced a 2.4% increase in its house median prices, according to the latest REIV report. 
The REIV recorded a 0.8% decline in the median regional Victorian house price to $306,000 compared with $308,500 in the March quarter.
Over the past 12 months, regional house prices have gone nowhere - down a marginal 0.6% - with the vacancy rate increasing slightly from 3.3% in March to 3.7% in June.
Consistent with this the median rent for a house in regional Victoria reduced from $300 per week to $295.
The top performing regional municipality was Murrindindi in the north-east of the state, which includes the towns of Alexandra, Eildon, Kinglake and Yea, and where house prices rose 16.5% over the quarter to a median of $430,000 - they are up nearly 24% over the past 12 months.
Another strong performer was Moyne (which includes the regional town of Warrnambool), with a near 12% gain in its median house price over the June quarter to $327,000. However, prices in Moyne are still down 3.8% for the year.
There were also relatively strong regional gains in Baw Baw (5% for the quarter, 6.8% for the year), on the Surf Coast Shire (Torquay) with house prices up 4.27% over the quarter to a median of $610,000.
However, there were 7% declines in Hepburn, which includes the spa town of Daylesford ($337,000) and the Victorian Pyrenees wine region, which includes the town of Avoca, with the median house price falling $200,000 - suggesting challenges for tourism- dependent markets.
Regional Victoria by municipality (best to worst over June quarter)
<table cellspacing="0" cellpadding="0" border="0" style="width: 470px;">
<colgroup>
<col width="189">
<col width="70">
<col width="70">
<col width="70">
<col width="70">
<col width="70">
</colgroup>
<tbody>
<tr height="16">
<td width="189" height="16"></td>
<td width="70"></td>
<td width="70"></td>
<td width="70"></td>
<td width="70"></td>
<td width="70"></td>
</tr>
<tr height="33">
<td height="33">Area</td>
<td width="70">Jun-13 Median</td>
<td width="70">Mar-13 Median</td>
<td width="70">Jun-12 Median</td>
<td width="70">Quarterly Change</td>
<td width="70">Annual Change</td>
</tr>
<tr height="16">
<td height="16">MURRINDINDI</td>
<td align="right">$430,000</td>
<td align="right">$369,000</td>
<td align="right">$347,500</td>
<td align="right">16.53%</td>
<td align="right">23.70%</td>
</tr>
<tr height="16">
<td height="16">MOYNE</td>
<td align="right">$327,000</td>
<td align="right">$292,500</td>
<td align="right">$340,000</td>
<td align="right">11.79%</td>
<td align="right">-3.80%</td>
</tr>
<tr height="16">
<td height="16">BAW BAW</td>
<td align="right">$315,000</td>
<td align="right">$300,000</td>
<td align="right">$295,000</td>
<td align="right">5.00%</td>
<td align="right">6.80%</td>
</tr>
<tr height="16">
<td height="16">SURF COAST SHIRE</td>
<td align="right">$610,000</td>
<td align="right">$585,000</td>
<td align="right">$586,500</td>
<td align="right">4.27%</td>
<td align="right">4.00%</td>
</tr>
<tr height="16">
<td height="16">CAMPASPE</td>
<td align="right">$270,000</td>
<td align="right">$260,000</td>
<td align="right">$263,000</td>
<td align="right">3.85%</td>
<td align="right">2.70%</td>
</tr>
<tr height="16">
<td height="16">CENTRAL GOLDFIELDS</td>
<td align="right">$198,750</td>
<td align="right">$195,000</td>
<td align="right">$199,500</td>
<td align="right">1.92%</td>
<td align="right">-0.40%</td>
</tr>
<tr height="16">
<td height="16">MOUNT ALEXANDER</td>
<td align="right">$369,000</td>
<td align="right">$365,000</td>
<td align="right">$365,000</td>
<td align="right">1.10%</td>
<td align="right">1.10%</td>
</tr>
<tr height="16">
<td height="16">MACEDON RANGES</td>
<td align="right">$485,000</td>
<td align="right">$480,000</td>
<td align="right">$485,500</td>
<td align="right">1.04%</td>
<td align="right">-0.10%</td>
</tr>
<tr height="16">
<td height="16">HORSHAM</td>
<td align="right">$220,000</td>
<td align="right">$218,000</td>
<td align="right">$210,000</td>
<td align="right">0.92%</td>
<td align="right">4.80%</td>
</tr>
<tr height="16">
<td height="16">CITY OF BALLARAT</td>
<td align="right">$287,500</td>
<td align="right">$285,000</td>
<td align="right">$285,000</td>
<td align="right">0.88%</td>
<td align="right">0.90%</td>
</tr>
<tr height="16">
<td height="16">WARRNAMBOOL</td>
<td align="right">$324,500</td>
<td align="right">$322,000</td>
<td align="right">$320,000</td>
<td align="right">0.78%</td>
<td align="right">1.40%</td>
</tr>
<tr height="16">
<td height="16">EAST GIPPSLAND</td>
<td align="right">$278,000</td>
<td align="right">$276,000</td>
<td align="right">$265,000</td>
<td align="right">0.72%</td>
<td align="right">4.90%</td>
</tr>
<tr height="16">
<td height="16">MITCHELL</td>
<td align="right">$320,000</td>
<td align="right">$319,000</td>
<td align="right">$319,000</td>
<td align="right">0.31%</td>
<td align="right">0.30%</td>
</tr>
<tr height="16">
<td height="16">MILDURA</td>
<td align="right">$225,000</td>
<td align="right">$224,500</td>
<td align="right">$220,000</td>
<td align="right">0.22%</td>
<td align="right">2.30%</td>
</tr>
<tr height="16">
<td height="16">BASS COAST</td>
<td align="right">$382,500</td>
<td align="right">$382,500</td>
<td align="right">$410,000</td>
<td align="right">0.00%</td>
<td align="right">-6.70%</td>
</tr>
<tr height="16">
<td height="16">CITY OF GREATER BENDIGO</td>
<td align="right">$310,000</td>
<td align="right">$310,000</td>
<td align="right">$300,000</td>
<td align="right">0.00%</td>
<td align="right">3.30%</td>
</tr>
<tr height="16">
<td height="16">CITY OF GREATER GEELONG</td>
<td align="right">$385,000</td>
<td align="right">$385,000</td>
<td align="right">$380,250</td>
<td align="right">0.00%</td>
<td align="right">1.20%</td>
</tr>
<tr height="16">
<td height="16">MOORABOOL</td>
<td align="right">$360,000</td>
<td align="right">$360,000</td>
<td align="right">$341,000</td>
<td align="right">0.00%</td>
<td align="right">5.60%</td>
</tr>
<tr height="16">
<td height="16">QUEENSCLIFFE</td>
<td align="right">$700,000</td>
<td align="right">$700,000</td>
<td align="right">$690,000</td>
<td align="right">0.00%</td>
<td align="right">1.40%</td>
</tr>
<tr height="16">
<td height="16">WODONGA</td>
<td align="right">$249,500</td>
<td align="right">$250,000</td>
<td align="right">$285,000</td>
<td align="right">-0.20%</td>
<td align="right">-12.50%</td>
</tr>
<tr height="16">
<td height="16">SOUTH GIPPSLAND</td>
<td align="right">$238,500</td>
<td align="right">$239,000</td>
<td align="right">$265,000</td>
<td align="right">-0.21%</td>
<td align="right">-10.00%</td>
</tr>
<tr height="16">
<td height="16">MOIRA</td>
<td align="right">$225,000</td>
<td align="right">$225,500</td>
<td align="right">$227,750</td>
<td align="right">-0.22%</td>
<td align="right">-1.20%</td>
</tr>
<tr height="16">
<td height="16">CITY OF GREATER SHEPPARTON</td>
<td align="right">$250,000</td>
<td align="right">$251,000</td>
<td align="right">$240,000</td>
<td align="right">-0.40%</td>
<td align="right">4.20%</td>
</tr>
<tr height="16">
<td height="16">GOLDEN PLAINS</td>
<td align="right">$332,000</td>
<td align="right">$335,000</td>
<td align="right">$361,500</td>
<td align="right">-0.90%</td>
<td align="right">-8.20%</td>
</tr>
<tr height="16">
<td height="16">WELLINGTON SHIRE</td>
<td align="right">$250,000</td>
<td align="right">$254,000</td>
<td align="right">$275,000</td>
<td align="right">-1.57%</td>
<td align="right">-9.10%</td>
</tr>
<tr height="16">
<td height="16">ARARAT</td>
<td align="right">$150,000</td>
<td align="right">$152,500</td>
<td align="right">$170,000</td>
<td align="right">-1.64%</td>
<td align="right">-11.80%</td>
</tr>
<tr height="16">
<td height="16">CITY OF LA TROBE</td>
<td align="right">$236,250</td>
<td align="right">$243,000</td>
<td align="right">$250,000</td>
<td align="right">-2.78%</td>
<td align="right">-5.50%</td>
</tr>
<tr height="16">
<td height="16">GLENELG</td>
<td align="right">$240,000</td>
<td align="right">$250,000</td>
<td align="right">$252,000</td>
<td align="right">-4.00%</td>
<td align="right">-4.80%</td>
</tr>
<tr height="16">
<td height="16">STRATHBOGIE</td>
<td align="right">$302,500</td>
<td align="right">$316,250</td>
<td align="right">$242,500</td>
<td align="right">-4.35%</td>
<td align="right">24.70%</td>
</tr>
<tr height="16">
<td height="16">CORANGAMITE</td>
<td align="right">$200,000</td>
<td align="right">$212,000</td>
<td align="right">$162,500</td>
<td align="right">-5.66%</td>
<td align="right">23.10%</td>
</tr>
<tr height="16">
<td height="16">PYRENEES</td>
<td align="right">$200,000</td>
<td align="right">$215,000</td>
<td align="right">$210,000</td>
<td align="right">-6.98%</td>
<td align="right">-4.80%</td>
</tr>
<tr height="16">
<td height="16">HEPBURN</td>
<td align="right">$337,000</td>
<td align="right">$362,500</td>
<td align="right">$368,000</td>
<td align="right">-7.03%</td>
<td align="right">-8.40%</td>
</tr>
</tbody>
</table>
Source: <a target="_blank" href="https://www.reiv.com.au/News_Publications/News%20Archive.aspx?newsID=%7BE2DD0950-484E-44A2-A119-04A66B1E4F27%7D&amp;title=Regional%20house%20prices%20stable%20in%20the%20June%20quarter">REIV</a>
The major regional markets were flat.
"Median house prices in key regional centres were stable with a 0.9% rise in Ballarat to $287,500; no change to the $310,000 recorded in Bendigo during the March quarter; and no change to the $385,000 recorded a quarter ago in Geelong," REIV CEO Enzo Raimondo said.
The top performing suburbs with the largest quarterly change in median prices in these three cities were Lake Wendouree in Ballarat with 13.88% and median price of $595,000, Maiden Gully in Greater Bendigo with 6.30% (median price of $425,000) and Barwon Heads in Greater Geelong with 11.03% (median of $755,000).
The Geelong market appears to have taken the recent announcements of job cuts or future job cuts at Ford, Target and other companies in its stride. House prices are up 1.2% over the past 12 months with Barwon Heads prices up 17.1% over the past 12 months and East Geelong prices up an impressive 21.4% over the past 12 months to a median of $437,000.
Outside of the main regional centres, the results were a mixed bag of the June quarter.
Many regional markets recorded either flat or declining house prices with Shepparton, house prices down 0.4% to a median of $250,000, Horsham recording a modest gain of 0.8% to a median of $220,000, Mildura up 0.22% to a median of $225,000 and prices almost unchanged in Mitchell, Moira and Moorabaool.
The REIV notes that demand was strong in the Macedon Ranges and the Mount Alexander Shire with a 1% and 1.1% rise respectively. 
"These two municipalities are part of the popular Melbourne to Bendigo corridor and as the data is based on the sales over the twelve months to end of each quarter the change is quite significant," says the REIV's spokesperson Robert Larocca.
Picture courtesy of goodmove.vic.gov.au.
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Regional Victorian house prices flat in June quarter, but Murrindindi among growth spots

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Furious buyers of apartments in Pace Development Group’s Evo Apartments in Parkville are bandying together following news that the development is likely to be surrounded by freeways under the Victorian government's East West Link plans.
A website – noroadtunnel.com - has been set up by worried investors, some of whom signed bank guarantees in lieu of deposits just a few weeks ago.
They also took part in a Greens rally against development of the tunnel on Sunday joining residents and business owners who are set to lose their homes and properties from compulsory acquisition as well as Melburnians who fear the loss of pristine parkland.
Evo is due to be completed in November with current plans for the development of the East West Link and tunnel suggesting elevated freeways forming a triangle around the seven level apartment block featuring 175 apartments.
Off the plan investor James Egan, who represents a group of more than 10 buyers, says marketing material sent out about the development made no mention of the possible impact of the East West link.
“There was no mention of it all. They said Evo would be well north of any future development,” he told Property Observer.
Pace's Evo website makes no mention of the East West link.
Egan says he has visited the area along with other investors and has spoken to local residents who have received letters about possible acquisition of their properties from Linking Melbourne Authority, the Victorian government body in charge of the project.
“On the southern side of Evo, it looks to be only about 10 metres away from the proposed ramp," says Egan.
It's also the same side that residents in blocks of units have been issued with letters about the site being acquired for the tunnel.
“We have bombarded Pace with calls and we have are trying to band together as many as possible,” he says.
Another angry investor commented on Property Observer that he could not believe Pace would complete the development and expect owners to settle when it's going to sit “right smack bang in the middle of the East West link”.
Lawyers for Pace met with Linking Melbourne Authority last week, describing the meeting as “productive and informative” but with no details as to what exactly is being discussed.
“At this stage we are keeping those directly involved as up to date as possible, and as developments progress we will be issuing statements as necessary,” said a spokesperson for Pace.
The Greens rally was organised by deputy leader and member for Melbourne, Adam Bandt.
He says the government’s latest release of designs and letters sent to residents foreshadowing the acquisition of their homes is creating fear.
“It’s completely unfair to leave people in limbo by saying it will be another year before any specific property acquisition notices go out,” he says.
“We shouldn’t be wrecking people’s homes and precious parkland for another toll road that’s economically unsustainable and that won’t fix traffic congestion.”
The Greens want investment in public transport to fix congestion on Alexandra Parade and the Eastern Freeway by building a rail line to Doncaster and building Metro Rail. 
Earlier this year Bandt introduced a bill to prioritise the $3 billion committed to Metro Rail over any federal contribution to East West toll road.
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Angry off the plan Evo apartment investors join Greens to protest East West Link Parkville plans

A converted warehouse loft-style apartment in Abbotsford has sold after auction in the mid $800,000 range.&nbsp;

The property went to recent auction with a price guide of $800,000 to $870,000 but passed in.

After negotiations with a bidder, it sold the next day at an undisclosed price.

Located in the former BYFAS silk mill building at 8 Trenerry Crescent, the BYFAS lofts were the first stage of the Yarra Falls development.

The apartment is one of 38 apartments and includes two bedrooms, two bathroom and five-metre high ceilings.&nbsp;

The property also features timber flooring and polished concrete, an entertainer&rsquo;s balcony and access to a communal gym.

The circa-1937 BYFAS silk mill manufactured parachute silk during World War II.

The Yarra Falls Mills was established in the 1900s and included a wool weaving mill and the Austral Silk and Cotton Mills.

The apartment last sold in 2007 for around $560,000.

The median apartment price in <a href="/news">Abbotsford</a> is $520,000, a 16.9% growth in the past five years, according to RP Data.

The property was listed with Justine Harris and Ken Griffith of <a href="https://www.hockingstuart.com.au/?pagecall=property&amp;propertyID=2380636" target="_blank">Hockingstuart Richmond</a>.

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Silk mill trophy loft-style apartment in Abbotsford sells

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Spec Property Group is enticing potential buyers by including a Vespa in the sale of some of their one-bedroom apartments in the South Yarra development.
The Ella development on Claremont Street features 167 apartments; 60 of those are one-bedroom apartments with no car space.
Spec is offering up to 20 Vespas to those lucky enough to secure a one-bedroom apartment with an allocated scooter space. 
The iconic Italian scooters are worth between $4,000 and $9,500, depending on the model.
One-bedroom apartments range in price from $339,000 to $445,000 and range in size from 39 square metres to 45 square metres.
The 107 two-bedroom apartments come with a car space and range in price from $535,000 to $650,000.
The kitchens feature Smeg appliances and Caesarstone benchtops but can be upgraded to Miele appliances.
Developer gifts are not a new concept within Australia; incentives such as cars, holidays and even cooking lessons with a celebrity chef have been utilised to attract potential buyers.
This is not even the first time <a href="https://www.specproperty.com/#/profile/" target="_blank">Spec Property Developments</a> have offered incentives; previously they have offered to pay the stamp duty for apartments purchased in their Madison development in Doncaster.
The Vespa incentive first appeared in Jacksonville Florida, with buyers at the Chelsea Lofts being able to choose between receiving a Vespa, having their homeowner association fees paid for a year or getting a plasma TV.
The rise in incentives can be seen as a result of tough housing market conditions.
Although the prospect of a lavish item, such as a Vespa, may seem like a good prospect, buyers are warned that there is a catch. The costs of the incentive are often hidden away in land or building costs.
Ella is currently 50% sold, with construction already commenced.
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Vespa offer to entice buyers to South Yarra one-bedroom apartments

A former Brighton police station has sold under the hammer, with the successful buyer planning to renovate the double-storey Victorian Italianate style building into a home.

The 1,047-square-metre property (pictured below) at 27 Wilson Street successfully sold at its recent auction for more than $2.4 million.

Offering double street frontage, the property features 10 principal rooms, original holding cells and original timber stairwells.

Nick Johnstone of <a href="https://www.propertyobserver.com.au/https://www.nickjohnstone.com.au/property/details/281" target="_blank">Nick Johnstone Real Estate Brighton</a> says the owner plans to keep the fa&ccedil;ade but refit the interior.

Meanwhile, the old Carlton police station at 334-344 Drummond Street has sold for $3,641,000.

Property Observer <a href="https://www.propertyobserver.com.au/victoria/old-bluestone-carlton-police-station-with-squizzie-taylor-links-listed-by-state-government/2013041860481" target="_blank">reported</a> on the listing earlier this year where the price guide was reported around $3 million.

The property ceased being an active station in 2010, having served the community for 130 years.

It is speculated that notorious 1920s gangster Squizzy Taylor was connected to the site.

Sitting on 992 square metres, the new of its two buildings is the 1890s six-cell bluestone jail designed by John Dow.

The symmetrical brick Victorian restrained Classical-Revival style building on the street was designed by Public Works Department architects William Steel and George Watson in 1878.

It was listed through Simon Shrimpton of Jellis Craig.

Shrimpton says the purchaser is looking to renovate and rework the Drummond Street site.

Up north, the former Pymble police station is on the market for $800,000 plus.

Located at 1116 Pacific Highway, the property&nbsp;retains original features including four fireplaces and two cell lock up blocks.

It also includes three individual offices.

Situated on 465 square metres, the property has recently been rezoned to high-density development.

In October last year, the original Rozelle Police Station&nbsp;sold for $1.87 million.

The 450-square-metre property at 707 Darling Street retains original features including three jail cells and barred windows.

Listing agent Tim Morrison described the building as having artistic feel to it with a blend of old and new interiors throughout.

The new owner has used the building to create a corporate headquarters for her digital publishing business beautheaven.com.au.

Prior to the sale, the property was used as the headquarters for New South Wales children&rsquo;s charity Variety.

It was sold in 1991 for $587,500 by a retail company dealing in luggage and leather goods.

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