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

<html><body>
There are about 65 Falls Creek properties listed for sale on the realestate.com.au portal, as the Victorian alpine ski resort 2013 ski season gets into gear.
Set around 4.5 hours from Melbourne, the properties listed on realestate.com.au range from $35,000 to $1.4 million.
The ski location's median apartment price in April was $346,700, according to RP Data.
The cheapest $35,000 offering sits within Morry Schwartz’s development, Silverski.
Suggesting there has been little price appreciation for the Silverski studios, the <a href="https://www.realestate.com.au/property-studio-vic-falls+creek-113110019" target="_blank">112 and 113 apartments</a> (pictured below) sold for $30,000 in 2011 when Schwartz offloaded his entire mountain holdings.
{yoogallery src=[images/stories/2013/06/june27silverski]}
Now they are re-listed with a $35,000 asking price each.
Christa Zirknitzer, from RT Edgar Alpine Bright, said recently that 112 and 113 were "expected to fetch the asking price." The Silverski 112 and 113 are currently under offer. 

She told Property Observer that “there has been some market growth where the majority are regular home/apartment buyers and not investors”.
Of the 77 Falls Creek apartments developed and sold by Morry Schwartz, 15 of them have been re-listed for sale since the owners bought them back in 2011.
His offerings were with no reserve price.
A <a href="https://www.realestate.com.au/property-alpine-vic-falls+creek-113222843" target="_blank">studio apartment</a> (pictured below) with a kitchenette and spa bath is listed with $149,000 hopes.
{yoogallery src=[images/stories/2013/06/june27bogong]}
The studio apartment is part of a complex that includes a restaurant, swimming pool and a sauna.
Christa Zirknitzer sold six properties that were recently listed from the Schwarz development fetching between $120,000 - $125,000.
Originally sold at the August 2011, apartment 301 of the Huski Development, another of Schwarz’s developments, been re-listed at $575,000.
The most recent sales - dating from around January this year - were in the St Falls East complex when  apartments <a href="https://www.realestate.com.au/property-apartment-vic-falls+creek-111929675">604 and 406 St Falls East</a> were sold. Both sold after lenghty time on the market. 
Apartment 604 was sold at an undisclosed price, but only after the asking price was adjusted to $380,000 down from $495,000 where it was on the market for 200 plus days.

It contains two bedrooms and two bathrooms with a balcony and an outdoor entertaining area.

Apartment 406 in St Falls East was sold at an undisclosed price having been listed at $250,000 for the one bedroom and one bathroom offering.

Located 356 kilometres, Falls Creek has a range of runs - 17% are beginner, 60% are intermediate and 23% advanced.
There are also 15 lifts to take skiers to these runs.
</body></html>

ssabbatucci-QQ7XVku6Zz

Falls Creek offerings from $35,000 to $1.4 million

<html><body>
Fortuna Villa, one of Bendigo's finest heritage-listed estates, is set for new ownership and restoration having sold post-auction for $2.21 million to the underbidder, adman Paul Banks.
The $3 million auction price was fool's gold, as it was never settled by its mystery buyer.
With a Pompeii fountain, parade ground, coach house, stables and, the seven bedroom mansion, the estate dates back to George Lansell who was the gold-rush town's quartz king.
It went to April auction when listed by the Defence Department whose signals section had taken up occupancy in the 1940s.
But its $3 million auctipn sale fell through.
Paul Banks, the advertising and marketing company owner will now endeavour to have the property rezoned to allow its utlisation by members of the public.
“Once we get a lick of paint on it we can get it opened up for functions, put a couple of bathrooms in it here and there and open it up for boutique style accommodation,” he told the Bendigo Advertiser.
Mr Banks has secured the property for about $2.21 million, a substantial discount to the $3 million April auction price, when the local press speculated it had sold to Chinese interests. 
Paul Banks, who runs <a target="_blank" href="https://www.regionalreach.com/index.php">Regional Reach Advertising </a>at Sutton Grange, was an April auction underbidder. 
It was on the market at $1.75 million when <a target="_blank" rel="nofollow" href="https://www.tsfn.com.au/?pagecall=property&amp;propertyID=2199224">Fortuna Villa</a> was being sold by the Department of Defence through Tweed Sutherland First National.
The quartz king, George Lansell, a mining entrepreneur, was the director of 38 mines and had links to almost every mine in Bendigo.
He struck fortune with his purchase of the 180 mine, part of the New Chum Reef.
He remodelled the mansion in the late 1880 which was lavishly furnished with pieces collected from around the globe. He designed the spacious gardens with walks, lakes and imported plants.
The Villa is built in a number of architectural styles - Victorian Italianate and Victorian Free Classical, with Federation influences.
The heritage listed rendered brick construction comes with seven bathrooms, cast-iron verandahs, a billiard room, a ballroom, a conservatory, a reception room and entrance hall.
It has a stained glass, cedar and blackwood staircase, a solid marble bath, extensive acid-etched glasswork.
The villa comes on 7.57 hectares and has 32 outbuildings. The Victorian gardens include a roman bath and a Pompeii fountain. There is also a tennis court, coach house and a large lake on the property. The lake was previously a tailings pond.
<a target="_blank" rel="nofollow" href="https://www.fortunavilla.net.au/inc/pdf/Draft%20Fortuna%20Phase%201%20Summary%20Report%20-%20Public%20Doc%20-%20final%20100709.pdf">The Department of Defence</a> occupied the site from 1942 and in 1957 it was compulsorily acquired for Army use. Since then the site has been occupied by the Army and other Defence organisations. Most recently it has been the home of the Defence Imagery and Geospatial Organisation.
The department of defence built a number of modern buildings on the property including a mess hall, stores and accommodation.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
</body></html>

jchancellor-FAypfDUnLy

Bendigo's Fortuna Villa heritage trophy estate finally sells

<html><body>
An RMIT planning professor has slammed as "world’s worst practice" the state government’s rezoning of land at Fishermans Bend without due consideration to planning controls.
Professor Michael Buxton said it was "scandalous what (they) did in rezoning such a large area of land as capital city zone without any rules being in place, and enriching canny speculators who saw this coming.
"You could not get a worse example of how not to develop than Fishermans Bend."
His comments to Fairfax Media refer to state planning minister Matthew Guy’s rezoning of 240 hectares for residential development a year ago.
Since then, 21 skyscrapers have been proposed for Montague precinct alone, the area closest to the CBD.
There are reports land speculators are making tens of millions of dollars by keeping an eye on the state government’s vision for high rise villages at Fishermans Bend, despite no official plan for the area having been released.
Opposition planning spokesman Brian Tee said a strategic plan for the area was "well overdue". "With the stroke of a pen, the (planning) minister has an enormous amount of power to add tens of millions to the value of a property.
"He’s ticking and flicking these tall tower proposals and making speculators incredibly wealthy, but really destroying any opportunity to have a soulful community on this site.
"This is a once-in-a-generation opportunity to get this iconic site right and it needs a plan to ensure it does not become Docklands mark two."
Redevelopment of Fishermans Bend will flood the area with apartments, with 680 in three residential towers at 123 Montague Street, South Melbourne, and 1023 in four skyscrapers at 6-78 Buckhurst Street.
There are suggestions developers had "land banked" the sites years ago tipping the state government would rezone them as high-rise residential when in power. This is proving correct.
The 123 Montague site of 0.57 hectares - for sale by expressions of interest - is bordered by Thistlethwaite, Montague, Buckhurst and Ferrars streets.
The CBRE Richard Ellis sale board describes it as offering an "unparalleled location, significant long-term income and development potential".
A spokeswoman for Mr Guy said he would not comment.</body></html>

staylor-63KgDrKwoY

Fishermans Bend rezoning remains contentious as Montague precinct to be flooded with apartments

<html><body>
The latest Kay &amp; Burton video report confirms that One Towers Road, Toorak fetched $20 million-plus.
<a href="https://www.propertyobserver.com.au/https://vimeopro.com/goldeneyemedia/kay-and-burton-report/video/68679281" target="_blank">The video</a> presented by Tracey Aitken gives viewers a look within the prestige offering by vendors Brian Watson and his wife, Edwina Le Maistre.
Even before the One Towers sale the prestige agency had notched $260 million in sales over April and May, its best result since 2010. The tally came from 124 sales.
Independently it has emerged Nigel Austin, the founder of the Cotton On chain, was the confirmed buyer of One Towers Road, Toorak.
It will be <a target="_blank" href="https://www.propertyobserver.com.au/victoria/one-towers-road-toorak-sells-but-falls-short-of-record/2013061662281">the home </a>of the Geelong born and based ragtrader and his expectant partner, Melanie.
There is no official confirmation of the actual price of the Georgian-style mansion on Towers Road, Toorak but Property Observer understands it to have fallen short of the Melbourne record of $24 million.
Property Observer gleans it sold for around $21 million, a very healthy result. The initial Fairfax Media report gave the sale price as a record breaking $25 million, and their revised $21.5 million price estimate came with the suggestion it represented a "bargain".
</body></html>

Kay & Burton confirm One Towers Road Toorak fetched $20 million-plus

<html><body>
The residential market in Sale and Traralgon is slow to stable with minimal movement in prices, according to property valuers Herron Todd White.
The valuers say for the best four to six year medium growth, the average buyer would be looking at the $200,000 to $400,000 price bracket.
The lower end of house prices, $200,000 and under, has slowed due to the removal of the first home buyers grant.
The valuers say the top end, $500,000 plus, is seeing vendors getting hurt due to over capitalising causing a sale loss, however a property in a strong location has the best chance of growth in this price range.
Herron Todd White say there has been an increase in renovations and extensions among home owners due to the high cost of land prices and building costs.
Home owners are staying put for a short term and then make a profit in the four to six year period.
The valuers say another option to consider  is the established home at the top end.
"With the high building costs, an established house at the top end may see growth in that four to six year period and I can’t see building costs coming down too quickly."
The valuers say a 1980s brick house in a good location is approximately $250,000.
They say this property should be renovated and the home owner shouldn't sell until five years later.
The valuers say buying an established property is a lot cheaper than building a new propert.
" A $400,000, five to 10 year old family home, with all improvements complete, is no cost to you.
"It is a lot more expensive to build, considering when land is $200,000, a new house is $250,000, suddenly you are at $450,000 and you don’t have concrete driveway, landscaping, shedding, fencing, paving?
"Yet the house which is 10 years old has all these and is probably in just as good a location."
</body></html>

ntrotman-Et3xWpamVh

Gippsland opting for renovations and extensions due to high land prices and building costs: Herron Todd White

<html><body>
Property valuers Herron Todd White say now is a good time to buy residential property in Melbourne with interest rates at record low levels.
"The Melbourne property market is currently a buyers' market, giving potential purchases the chance to shop around, and negotiate to find themselves a bargain.
“If you’re one of the many thinking about taking the metaphorical dive into property ownership and you want to be savvy about it, there are few things to consider.
“Properties with strong tenant demand and minimal holding costs will help to maximise you rental return; however homes with the potential for significant capital growth help to provide financial freedom in the long run."
The valuers say the equity built up can be used to purchase another property, which is beneficial for those looking to expand their portfolio.
For those looking for a house or unit with the potential for strong growth in the next four to six years, HTW says <a href="/news">West Footscray</a>, <a href="/news">Footscray</a> and <a href="/news">Maidstone </a>are showing positive signs for strong growth in the detached/semi detached market.
The suburbs are located within eight kilometres from the Melbourne CBD and are more available, with houses under $500,000.
Herron Todd White forecasts these areas to attract stronger demand due to their convenient location and as the trend towards high-density housing and gentrification continues.
Footscray is expected to profit from the proposed and current development in the area including the Footscray Railway Station redevelopment, Footscray Plaza Redevelopment and the Whitten oval Redevelopment, as well as being home to Victoria University, Western Hospital and Lonely Planet Publications.
Herron Todd White says the Melbourne 2030 planning strategy has designated Footscray as one of the major activity centres which are the preferred locations for future higher density residential land and mixed use development.
“All of these factors help to generate rental and investment demand in which the median house values are below that of surrounding areas which have already experienced gentrification and a shift in development plans.
"Like Footscray, Maidstone and West Footscray will benefit from the current and future development of the area.
"Both suburbs are located within eight kilometres of the CBD and offer greater housing affordability."
The valuers say a potential investor can expect to enter the West Footscray and Maidstone market with $535,000 and $498,000 being the median house price respectively.
Maidstone and West Footscray are located nearby the Maribyrnong Defence Site Redevelopment and the Maribyrnong/Footscray early years hub.
Areas of Maidstone also offer larger blocks and city views while development in West Footscray include the Barkly Village streetscape improvements and the West Footscray Railway Station redevelopment.
Image of Footscray by Steve Davidson, courtesy of Flickr.
</body></html>

Melbourne property market a buyers' market; Footscray, West Footscray, Maidstone: Herron Todd White

<html><body>
Little Parndon, the East Melbourne house built for colonial artist Eugene von Guerard fetched $1.75 million at its weekend auction.
Four bidders sought the heritage-listed Georgian property at 159 Gipps Street, which was built in 1862.
Jellis Craig Bennison Mackinnon agents Iain Carmichael and Nathan Waterson announced it on the market at $1.47 million with two remaining bidders seeking the terrace. The plain face red brickwork Little Parndon features three bedrooms, two bathrooms and a self-contained studio apartment.
Little Parndon had been the townhouse of former governor-general Lord Casey and Lady Casey. Since Lady Casey's 1983 death Little Parndon had been periodically occupied by visiting artists, according to the East Melbourne Historical Society.
Lady Casey, the editor and co-writer of Early Melbourne Architecture, which was published in 1953, helped Melbourne's emerging conservation movement.
The 180-square-metre terrace, Little Parndon was constructed by Ravenscroft and Oldfield for von Guerard who was born in 1811 in Vienna and died in 1901 in London.
{yoogallery src=[images/stories/2013/05/may27eastmelbourne]}
After emigrating to Australia from Austria, von Guerard was one of Australia’s most renowned landscape artists and was influential to the Australian romantic landscape painting. 
Von Guerard added a rooftop studio to the house in 1866 having often painted the country properties of the rich for earnings to build his house.
{yoogallery src=[images/stories/2013/05/may27eastmelbournetwo]}
After Von Guerard moved back to Europe in 1882, Robert Sparrow Smyth, an entrepreneur and manager of musicians was the next owner, followed by John H. Daley.
The property was then home to Australia’s 16th Governor General Lord Casey and Lady Casey from 1939.
Meanwhile one of von Guerard's paintings, <a href="https://www.bonhams.com/auctions/21362/lot/17/" target="_blank">The farm of Mr Perry on the Yarra</a> goes to June 26 Bonhams auction as part of the Grundy Collection sale with $900,000 plus hopes. It was painted in 1855. The Perry family's farm Fulham Grange at Alphington on the Yarra River, is unique amongst von Guerard's works as it was the artist's first commission in the colony and it depicts not just an early homestead (a genre von Guerard would later make his own) but one that was also a working farm, vineyard and nursery.
The land was still untamed bush when Englishman Richard Perry and his wife Elizabeth first took it up in the early 1850s, creating a farm, market garden, vineyard and after a time, a tree nursery, eventually known as Perry's Nursery Garden and Orchard.
The Southern Highlands, NSW-based Grundy's say they have too many paintings in storage and they wish for others to get to enjoy their ownership.
Little Parndon was listed by the Casey estate through <a href="https://www.jelliscraigbm.com.au/property/EAST-MELBOURNE-159-Gipps-Street/5527689/#.UZ7TpuBAt6o" target="_blank">Jellis Craig Bennison Mackinnion Armadale</a> with an initial price guide of $1.4 million, which was around its reserve price.
The median house price in <a href="/news">East Melbourne</a> is $1,950,000, according to RP Data.
</body></html>

Little Parndon, the East Melbourne gem sells as Eugene von Guerard painting set for auction from Reg and Joy Grundy collection

<html><body>
One Towers Road, Toorak, owned by former JPMorgan Australia chairman Brian Watson, has been finally sold.
It was listed in October 2011 with $26 million record-setting expectations, then relisted last November with reportedly upwardly revised $30 million hopes.
Property Observer gathers the Victorian price record remains intact with the 2010 Portsea clifftop sale of Ilyuka for $26 million.
And the sale of the Georgian-style mansion on Towers Road, Toorak also fell short of the previous Melbourne record of $24 million. Property Observer gleans its sold for around $21 million, a very healthy result.
The $24 million Toorak record was set in 2010 when soft-drink magnate Harry Stamoulis bought his Toorak property.
One Towers Road, Toorak, last traded when Brian Watson secured the 3,900 square metre property in July 2001.
It was the notorious sale that left Amanda Elliott, tycoon John Elliott's then wife, seemingly a little shell-shocked as to her continued occupancy of the 115-square manor. 
"It was apparently something I wasn't involved in," she told reporters after word of the sale had been reported by then Age property writer Antony Catalano in the morning paper. Elliott bought the home in 1989 for the then record price of $7.25 million.
Its Kay and Burton listing agent Michael Gibson has been tight-lipped on the details of the latest sale reportedly to a Melbourne local.
A sold notice went up on realestate.com.au some 10 days before its initial Fairfax Media report which originated from bullish Sydney, hence the some what naive suggestion of a $25 million sale which has since been repeated by the Australian Financial Review. By week's end Fairfax Media were describing their revised $21.5 million sale estimate as a "bargain" price.
Michael Gibson did however advise that Kay &amp; Burton has had "nine sales in the past 10 weeks ranging between $8 million and $20 million."
The Watson family bought the six bedroom <a target="_blank" href="/news">Toorak</a> property in 2001 for $11.1 million, a then record-setting price from businessman John Elliott.
The price the empty-nester Watson family had only recently returned to Melbourne after living for more than 12 years in New York where he headed investment house JP Morgan's equity capital markets group.
The highest known sale in Toorak this year was about $16.65 million when property developer and architect Gabor Hubay and wife Roni sold their sprawling 3 Macquarie Road estate after it was listed last November. The Hubay-designed five bedroom, seven bathroom house with a theatre, a gym and a seven-car basement garage, sits on a 2100-square-metre property.
It was listed by Michael Gibson and Ross Savas of Kay &amp; Burton.
Last October the investment fund manager Ron Dewhurst sold 7 Landale Road for about $17 million, which was the reported highest sale of 2012, and the only Toorak house to sell for more than $15 million since the 2010 boom. 
Dewhurst , who now lives in New York, purchased the Georgian home in 2003 from former television personality Steve Vizard for $6.4 million. It was bought in the recent sale by the chief executive of the pharmaceuticals supplier Ascent Pharmahealth, Dennis Bastas.
 
<hr class="system-pagebreak">
Other sales this year include the reputed $15 million sale of Hong Kong-based expat Malcolm Dumenil's custom-built three-storey mansion at 59 Hopetoun Road (pictured below).
{yoogallery src=[images/stories/2013/06/june17hopetoun]}
It was marketed as a blend of the Roman, French and Art Nouveau styles through Jeremy Fox at RT Edgar. Dumenil, chief executive at the Hong Kong-based conglomerate Chiaphua, bought the property for about $2.2 million in 2001.
It came with five bedrooms, a cinema with a bar, two kitchens, plus five-car basement garage, gym and steam room.
Other recent prestige sale include 59 St Georges Road which did not get as far as an expressions of interest. It came with pool and court. It was sold by Paula Crouch, the wife of the former NAB executive Ian Crouch who had $11 million plus hopes for the Neo-Georgian mansion.
"You wouldn’t have expected that six months ago," said Koren and Morell buyer advocates noted on its speedy sale.
It was last traded in 2002 when bought from wealthy property developer Sam Tarascio for $6.75 million.
Ian and Paula Crouch head the international consultancy firm, Reveal Group.
Another Toorak mansion on Clendon Road, which belonged to the Rowsthorn transport family, sold for $11.5 million in quick time in April through Kay &amp; Burton. 
The large six-bedroom home (pictured below) of Mary Rowsthorn at 35 Clendon Road sold just a week after it was advertised.
{yoogallery src=[images/stories/2013/03/march22toorak]}
It had been renovated by designer Michael Munckton after the Rowsthorn's purchased it in 2002 from Ken and Gail Roche for $5.2 million. Its interiors were undertaken by Christopher Thomas from Thomas and Alexander interiors.
The 1,842-square-metre property boasts manicured gardens, an outdoor pool and tennis court and an outdoor dining space.
The property faces west so upstairs boasts views to the city.
“It has been the most amazing family home for the four children, but it's time for me to move onto the next adventure,” Rowsthorn says.
The property was listed by Andrew Baines and Michael Gibson from Kay and Burton.
Sales have so far alluded Peter Devitt, owner of the L. U. Simon building business, who listed his Toorak mansion by private sale last November with $20 million plus hopes complete with <a href="https://www.propertyobserver.com.au/residential/the-beautiful-rose-16-st-george-road-toorak-remains-listed/2013061662258?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=propertyobservertv" target="_blank">Kay &amp; Burton film presentation</a>.
Devitt's 16 St Georges Road house sits on 4257 square metres. Mr Devitt and his wife, Joanne, paid $4.4 million in 1997. 
The Toorak mansion of the event promoter Andrew McManus was under recent offer, but has yet to sell.
It didn't sell at its 2011 and 2012 marketing campaigns.
<a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2345819&amp;agentID=952&amp;realestate=8_Myoora_Road_TOORAK_VIC_3142&amp;showGoBack=true">The Myoora Road house</a> (pictured below) last sold in 2008 mid-construction for $8.75 million.
{yoogallery src=[images/stories/2013/05/may27toorak]}
It was listed this time through Paul Pfeiffer and Jeremy Fox at RT Edgar Toorak who had noted buyer interest around $11 million.
The house, with a 12-car garage, had been initially commissioned for construction in 2007 by David Fox, the youngest son of trucking magnate Lindsay Fox, who sold before the property was completed.
There’s also a study, gym, home theatre, billiards room and cabana and pool on its 1,389-square-metre block. The RP Data median house price in <a target="_blank" href="/news">Toorak</a> is $2,687,500.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
</body></html>

One Towers Road, Toorak sells, but falls short of record

<html><body>
The REIV has issued a list of the suburbs in Melbourne that have a median house price in excess of $1 million.
It covers all sales in the past year.
The REIV notes due to some suburbs small size or low volume of sales on a quarterly basis a median house price may not be suitable for calculation, however using sales over the year ensures a more representative picture.
In the 12 months ending May 2013, Melbourne had 42 suburbs with a median house price in excess of a million dollars.
<table><tbody><tr>
<td>EAST MELBOURNE DEEPDENE TOORAK CANTERBURY BRIGHTON RED HILL SOUTH ARMADALE ST KILDA WEST MALVERN HAWTHORN KEW SOUTH YARRA ELWOOD MIDDLE PARK CAMBERWELL BALWYN EAGLEMONT PARKVILLE CAULFIELD NORTH ALBERT PARK IVANHOE EAST RED HILL CAULFIELD HAWTHORN EAST GLEN IRIS SURREY HILLS ELSTERNWICK KANGAROO GROUND PORTSEA HAMPTON SANDRINGHAM PRINCES HILL MONT ALBERT BRIGHTON EAST KEW EAST BLACK ROCK MALVERN EAST YARRAMBAT BALWYN NORTH IVANHOE ALPHINGTON FLINDERS</td>
<td>$2,600,000 $2,512,500 $2,225,000 $1,800,000 $1,750,000 $1,687,500 $1,660,250 $1,487,500 $1,471,500 $1,426,500 $1,380,000 $1,360,500 $1,342,000 $1,340,000 $1,331,500 $1,315,000 $1,310,000 $1,280,000 $1,278,750 $1,276,250 $1,270,000 $1,250,000 $1,247,500 $1,215,500 $1,200,000 $1,191,500 $1,160,500 $1,155,000 $1,150,000 $1,132,500 $1,103,000 $1,098,250 $1,095,000 $1,075,000 $1,060,000 $1,050,000 $1,050,000 $1,045,000 $1,033,500 $1,020,000 $1,017,500 $1,010,000</td>
</tr></tbody></table>
 
The REIV's Robert Lorocca noted the north eastern suburbs was one area with increasing million dollar sales including Eaglemont <a target="_blank" href="https://www.realestateview.com.au/real-estate/melbourne/north-east/eaglemont/" title="Eaglemont Property for Sale">Eaglemont</a>, <a target="_blank" href="https://www.realestateview.com.au/real-estate/melbourne/north-east/ivanhoe-east/houses-for-sale/" title="Ivenhoe East Property for Sale">Ivanhoe East</a>, <a target="_blank" href="https://www.realestateview.com.au/real-estate/melbourne/north-east/ivanhoe/houses-for-sale/" title="Ivanhoe Houses for Sale">Ivanhoe</a> and <a target="_blank" href="https://www.realestateview.com.au/real-estate/melbourne/north-east/alphington/houses-for-sale/" title="Alphington Property For Sale">Alphington</a>.
"These suburbs all have one locational feature in common; they have a frontage to the Yarra River."
The REIV noted there were no suburbs with million medians with the most expensive one in the year ending May, being Malvern at $987,500.
Source: <a target="_blank" href="https://www.reiv.com.au/en/Property-Research/Median-Prices/Million-dollar-suburbs">REIV</a>
</body></html>

East Melbourne tops Melbourne's 42 million dollar property suburbs: REIV

<html><body>
As we batten down the hatches to get through a cold and wet winter, Property Observer takes a look at nine of the most alluring fireplaces that will have you reaching for the marshmallows.
At the top of the list, Calibre menswear fashion owner Gary Zecevic's 1920s <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/calibre-menswear-fashion-owner-gary-zecevic-lists-1920s-toorak-home/2013050961180">English Tudor style Toorak mansion</a> features a large stone fireplace (pictured below) in the lounge room.
<img src="/images/stories/2013/06/toorak_0002_3.jpg.jpg" width="470" height="313" alt="toorak_0002_3.jpg">
It also includes several elegant fireplaces in other rooms.
The property features five bedrooms, five bathrooms and has been featured in Belle magazine.
Property Observer previously <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/dodo-founder-larry-kestelman-seeks-to-exhume-brighton-trophy-home-market-with-%2412-million-plus-listing/2013053161814">reported</a> on this house listing – owned by Dodo founder Larry Kestelman – but the unique fireplaces were hard to go past.
Located in the beachside suburb of Brighton, this <a target="_blank" href="https://www.realestate.com.au/property-house-vic-brighton-113916571">mansion</a> boasts two suspended pivoting ellipsoid open wood fireplaces (pictured below) and one pebble open fireplace.
<img alt="fireplacejune14one" height="348" width="470" src="/images/stories/2013/06/fireplacejune14one.jpg">
The property includes five bedrooms, eight bathrooms and a Vodka bar.
A four-bedroom, four-bathroom home <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-avalon-113392875">on Chisolm Avenue in Avalon</a> has also incorporated a suspended revolving fireplace (pictured below).
<img alt="fireplacejune14two" height="350" width="470" src="/images/stories/2013/06/fireplacejune14two.jpg">
It is located in the dining and lounge area, which opens up to an outdoor entertaining area overlooking the Pittwater.
Two hours down the road in Far Meadow, this <a target="_blank" href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-far+meadow-113323439">farmland homestead</a> features an open plan living pavilion with a central double-sided fireplace (pictured below).
<img alt="fireplacejune14three" height="350" width="470" src="/images/stories/2013/06/fireplacejune14three.jpg">
The double-sided fireplace sits between the lounge and dining, which are surrounded by glass doors and windows offering views of the farmland, ocean and mountain ranges.
A <a href="https://www.realestate.com.au/property-house-nsw-paddington-113972247" target="_blank">Victorian terrace</a> in Paddington has been untouched for almost 50 years and offers five ornamental fireplaces.
<img src="/images/stories/2013/06/fireplacejune14four.jpg" width="470" height="348" alt="fireplacejune14four">
Located on Brown Street, it is the first time the three-bedroom home has gone on the market since the 1960s.
 
<hr class="system-pagebreak">
In contrast to this, a <a href="https://www.realestate.com.au/property-house-wa-city+beach-113787331" target="_blank">modern two-storey home</a> in City Beach WA features a floor to ceiling marble feature gas fireplace (pictured below) in the formal lounge room.
<img src="/images/stories/2013/06/fireplacejune14five.jpg" width="470" height="352" alt="fireplacejune14five">
The property also features four bedrooms and three baths.
A <a href="https://www.realestate.com.au/property-house-nsw-stanmore-113925703" target="_blank">Victorian terrace</a> in Stanmore New South Wales features original twin marble fireplaces and high ceilings in the lounge and dining room.
<img src="/images/stories/2013/06/fireplacejune14six.jpg" width="470" height="348" alt="fireplacejune14six">
With interiors by Greg Natale, the four-bedroom home has recently been featured in Belle magazine.
Although they don’t feel the chill as much as the south, a retreat in the Tamborine Mountains Queensland has its guests feeling cosy all year round.
The property features six villas and a three-bedroom residence, each with their own log fireplace.
The main building features the <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-tamborine+mountain-111632279" target="_blank">Grand Guanaba Room</a> with a large stone fireplace (pictured below), sitting in front of three large windows overlooking the rainforest.
<img src="/images/stories/2013/06/fireplacejune14seven.jpg" width="470" height="345" alt="fireplacejune14seven">
Last but not least, <a href="https://www.realestate.com.au/property-house-vic-mornington-113915539" target="_blank">Combe Martin</a>, located on the Esplanade in Mornington features intricate marble open fireplaces throughout the neo Tudor style home.
<img src="/images/stories/2013/06/fireplacejune14eight.jpg" width="470" height="350" alt="fireplacejune14eight">
The home is named after the seaside village hamlet in North Devon England.
A marble fireplace is located in the billiards room, sitting room and the gentleman’s mahogany library.
</body></html>

Latest Victoria Property News

Lowe Living set new Melbourne off the plan apartment record

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Victoria Property News

Lowe Living set new Melbourne off the plan apartment record

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News