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>.

Joel Robinson

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

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

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The National Trust of Victoria is offering exclusive guided tours of Government House. 
The <a target="_blank" href="https://www.trybooking.com/Booking/BookingEventSummary.aspx?eid=49366">$15 tour</a> looks at the grand State Rooms, the billiard room and a visit below stairs to the old kitchens and mews.
The tours run most Mondays and Thursdays.
Government House, home to Alex Chernov, is next to the Royal Botanic Gardens in Melbourne.
<img height="210" width="470" src="/images/stories/2013/05/tweetofthedaymay30.jpg" alt="tweetofthedaymay30">
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Tweet of the day: Take a tour of Victoria's Government House 

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An undercurrent of activity suggesting improved confidence appears to be emerging in the Melbourne new housing market.
A number of Melbourne apartment developers are reporting strong sales in the first quarter of the year on the back of continued investor demand while a modest recovery appears underway for Melbourne’s struggling house and land market.
Researchers Oliver Hume report there is now a Melbourne apartment development pipeline of 35,700 units. 
It finds that 27 new projects have launched in the first three months of the year.
According to Oliver Hume, there are 290 active projects across Melbourne with 22,850 units under construction, the Australian Financial Review recently reported. 
Despite the seeming glut of projects, developers appear confident that investors will be buoyed to buy off the plan spurred on by low interest rates and improving confidence about the housing market. 
The most recent Westpac-Melbourne Institute index report showed that sentiment about the housing market defied the overall drop in consumer confidence with the ‘time to buy a dwelling’ sub-index lifting 11.2% in May to be up 20.7% over the past 12 months.
In <a href="https://www.propertyobserver.com.au/victoria/developer-offers-olive-branch-after-selling-out-south-yarra-development/2013031259839" target="_blank">March property development group Little Projects</a> reported that it had sold all 388 apartments in its ILK South Yarra development just as the building topped out at 24 storeys. 
Lend Lease reported last month that it had sold 75% of the first stage of its redevelopment of the former channel nine studios in Richmond.
Lend Lease’s Ben Coughlan says there has been an even split between investors and owner occupiers in the development.
In February, Mirvac  reported that it has sold just over half of the 205 apartments in its Array residential tower in Melbourne's Docklands following six months of marketing them off the plan. 
<a href="https://www.propertyobserver.com.au/developments/platinum-at-southbank-secures-200-odd-sales-ahead-of-official-launch-platinum-salvoproperty/2013052361602" target="_blank">Salvo Property Group </a>managed around 200 off the plan sales in its Platinum 52-level apartment building to existing clients and overseas buyers, set for construction in Melbourne's Southbank, ahead of its official launch.
Asked about headlines suggesting an oversupply of Melbourne apartments, chief executive Mario Salvo noted "we are almost halfway in our sales and we haven't had a retail launch."
"Why should I feel there is oversupply?
"I don't see the gloom."
In Melbourne’s struggling land market, the March quarter National Land Survey Program (NLSP) produced by Charter Keck Cramer and Research Four, shows signs of a fledgling recovery, albeit from a very low base.
“Melbourne new land market looks like it will see an increase in the volume of lot sales for the March 2013 quarter, said Research Four. 
“Performance is patchy but at an aggregate level is slowly increasing.” 
 
<hr class="system-pagebreak">
The recovery in Melbourne comes on the back of national land prices have bottomed out.  
Melbourne median lot price are now $199,000 compared to a peak of $222,000 in June 2011.  
Lot sales continued to decline in the major Melbourne centres but at a much slower pace in the last six months following a dire September quarter which <a href="https://www.propertyobserver.com.au/land/one-in-three-melbourne-residential-lots-being-returned-to-developers-by-building-firms-report/2012112958179" target="_blank">found that 30% of Melbourne greenfield</a> land had been returned by building companies to developers. 
Charter Keck Cramer director Robert Papaleo told a Urban Development Institute of Australia (UDIA) breakfast last week that the performance of Melbourne's greenfield market in the March quarter of 2013 “has improved slightly from its cyclically-low through late 2012”. 
While the Melbourne market remains “far weaker than its peak in 2009-10” he says the Melbourne greenfield market is “now showing tentative signs of moving into an early-recovery phase through the second half of 2013”. 
“The extent of recovery however will remain modest in the near term, Papaleo says. 
“Consumers of new land in Melbourne's growth corridors, which includes first-home buyers as well as upgraders, are still demonstrating subdued confidence because of weaker economic conditions across Victoria and associated job uncertainty. 
Papaleo pointed out that Melbourne had up until two years ago led the nation in terms of the production of greenfield lots and new housing. 
"Results from the National Land Survey Program showed that Melbourne achieved a share of more than 40% of all greenfield lot sales across the major capital cities in 2009-10 but the latest March 2013 quarter survey highlighted that Melbourne's share had fallen to 15%." 
"Significantly, despite its longstanding position of dominance, Melbourne's most recent sales performance now ranks as fourth highest behind Perth, Sydney and South-East Queensland." 
"Signs of impending recovery include the reduction of lot prices to meet customer expectations as well as further recent reductions to already-low interest rates and the re-alignment of the first home buyers grant by the Victorian Government to the construction of new homes. 
"These factors should lead to moderately higher sales activity through the second half of 2013,” he says. 
According to Papaleo, the greatest impediment to recovery remains “confidence in the Victorian economy and employment uncertainty over the near term". 
In response to the downturn, the National Land Survey Program found that the development industry response has resulted in lower lot, fewer and smaller new stage releases and innovations to housing design to maintain affordability. 
A number of large master planned projects are expected to be launched through 2013 and 2014 following a long planning lag. 
These types of projects should lift over sales activity but could “cannibalise opportunities for smaller developments”.
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lschlesinger-FZcF9M3vE6

Undercurrent of confidence in Melbourne new housing and apartment markets

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If you’ve ever imagined yourself in shining armour, you can now secure your very own castle in Research, Victoria, listed with a price guide in excess of $1.6 million.
But as it was listed last year, it appears there's not too many knights around these days.  
The ten-bedroom, eight-bathroom Crest Castle is located on Crest Road and features turrets, bluestones, a lagoon, rough sawn timbers and a treetop footbridge.
The 4,392-square-metre lot also hosts a self-contained unit.
Crest Castle was built in the 1970s by an English bricklayer and in the 1980s underwent a major overhaul to turn the family home into an aged care facility.
In the late 80s, the requirement for age care facilities changed and Crest Castle was shut down, lying dormant for ten years.
The current owners have lived in the castle for over 12 years, after overhauling the property.
The property holds a permit for 30 guests, allowing it to act as a bed-and-breakfast business, charging $195 to $220 per night.
Selling agent Tristan Messerle of <a target="_blank" href="https://www.morrisonkleeman.com.au/index.cfm?pagecall=property&amp;propertyID=2323336&amp;realestate=24_Crest_Road_RESEARCH_VIC_3095">Morrison Kleeman Estate Agents Eltham</a> says the current owners operate the bed-and-breakfast out of their home as a hobby.
Messerle says there has been interest in turning Crest Castle into a reception, however the small block does not offer much parking. 
The median house price in Research is $612,500, according to <a href="/news">RP Data.</a>
<img src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57" alt="trophyhomesstrapone">
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Castle in Research Victoria listed for $1.6 million-plus

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Singapore’s giant observation wheel, The Singapore Flyer, has entered into receivership just five years after it first opened.
The wheel, which at 165 metres is the tallest Ferris wheel in the world, was fraught with links to companies that came under accusations of embezzlement in 2010.
And since opening in 2008 the wheel has suffered from several major break-downs, including an incident in 2008 when a fire in the control room caused the wheel to stop moving, stranding 173 passengers for six hours.
Tim Reid, Theresa Ng and Tan Aik Kiat from accounting firm Ferrier Hodgson have been appointed as the receivers and managers of the company's charged assets.
They say it’s business as usual for the wheel as they identify investors to manage and enhance the Singapore Flyer.
The troubles are reminiscent of Melbourne’s giant Ferris wheel, the Southern Star, which opened two years behind schedule in 2008 and closed 40 days later and has not yet reopened.
The troubled $100 million attraction is under major repairs and has missed several completion deadlines while suffering from safety problems.
In 2011 the 120 metre wheel broke free from restraints and started spinning in the wind, injuring two workers.
Soon after there were fears of falling debris from the wheel, which is being built by ING Real Estate.
In 2012 former premier Ted Ballieu told the Herald Sun, "it looks like what it is, which is a large, expensive, half-completed project, which has been very troubled, and the sooner it's resolved I think the better for everybody."
Former Lord Mayor Robert Doyle labelled it an embarrassment.
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Singapore observation wheel enters receivership

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Prospective tenants at Melbourne’s new $670 million fruit and vegetable wholesale market have sought an injunction on lease signing through the Victorian Supreme Court yesterday.
The Melbourne Market Authority is relocating the Footscray Road market to a new site in Cooper Street, Epping but the tenants are facing rents almost double what they are currently paying.
The 108 traders at the Footscray Road site are under pressure to sign leases at the new site before May 31 or risk losing their allocation when the leases go to national tender in June.
Just two of the traders have already signed.
The tenants, represented by Nunzio Lucarelli QC, accused the Melbourne Market Authority of “unconscionable conduct” under consumer law by pressuring them to sign at much higher rents, The Australian Financial Review reported.
They told Justice Peter Vickery rents will rise from $273 per square metre annually to $478 per square metre annually and tenants who also require warehouse space are being asked to sign leases without knowing the details of the storage space.
“They are being asked to commit to one part of the puzzle without knowing the other part of the puzzle,” Lucarelli reportedly told the court.
He said the MMA are using “pressure or unfair tactics” to “corral” the stallholders into signing the leases.
But the MMA, represented by Michael Wyles SC, said the dispute was not open for the court to decide as the market was implementing government policy.
He said even a short injunction could delay the market opening until 2015.
The case will be decided on Friday.
The new market facility has been fraught with controversy as rents increase and the number of stall holders is reduced.
The Weekly Times Now reported the annual market turnover could fall could fall from $1.6 billion to $600 million.
It reports the market is too small to accommodate all standholders - 480 down to about 216 – with some standholders going from having 20 stands to just one.
Stall sizes will reportedly be reduced from 21 square metres to 17.28 square metres while the aisles are too small to allow trucks inside or let fork-lifts turn around.
But none of the information is official and standholders say they are being left in the dark.
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West Melbourne wholesale fruit and veg stallholders seek lease injunction over site relocation

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A Melbourne development site and film production studio has sold for $3.5 million.
The Elsternwick property (pictured below) at 15-19 Gordon Street, in Melbourne’s inner south comes with a two-storey office and a laboratory that was formerly occupied by Cinivex Film Laboratories and most recently by production company Deluxe.
{yoogallery src=[images/stories/2013/05/may22deluxe]}
It was sold by Agent Grange Property Consultants director Joel Wald who negotiated the off market sale on behalf of Elsternwick Properties Pty Ltd.
The 1,160-square-metre site is opposite Elsternwick train station and close to the Glen Huntly Road retail precinct.
It was bought by a Melbourne-based purchaser who is considering its options including a continuation of the current use and possible development of the site.
It comes with more than 20 car spaces.
Deluxe have worked on films such as The Sapphires, which was filmed in New South Wales and Vietnam.
And the property is <a href="https://www.realcommercial.com.au/property-offices-vic-elsternwick-500541927" target="_blank">up for lease by Colliers</a>.
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Melbourne development site and film production studio sells for $3.5 million

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A circa 1862 Georgian style home built for prominent landscape artist Eugene von Guerard is on the market for the first time in more than 70 years.
Located on Gipps Street in East Melbourne, the 180-square-metre Little Parndon was constructed by Ravenscroft and Oldfield.
{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.
The plain face red brickwork Little Parndon features three bedrooms, two bathrooms and a self-contained studio apartment.
The property also boasts a private courtyard and a tower retreat.
{yoogallery src=[images/stories/2013/05/may27eastmelbournetwo]}
Von Guerard occupied the residence until 1882, when he then moved back to Europe.
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 to the early 1980s.
After Lady Casey’s death in 1983, Little Parndon was left to her estate.
Little Parndon is scheduled for a June 15 auction through Nathan Waterson and Iain Carmichael of <a href="https://www.jelliscraigbm.com.au/property/EAST-MELBOURNE-159-Gipps-Street/5527689/#.UZ7TpuBAt6o" target="_blank">Jellis Craig Bennison Mackinnion Armadale</a>.
The price guide is around $1.4 million.
The median house price in <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="/news" target="_blank">East Melbourne</a> is $1,950,000, according to RP Data.
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Landscape artist Eugene von Guerard's 1860s East Melbourne terrace home on market

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A 31st floor sky residence at Mirvac’s $200 million Yarra Point development has come alive with zebra print and animal legs.
The display apartment has been styled by Rohan Smith interior designer for Coco Republic with furnishings from Oly San Francisco – a brand exclusive to Coco republic.
<img alt="yarrapointmay28one" height="518" width="400" src="/images/stories/2013/05/yarrapointmay28one.jpg">
The furnishings (pictured above and below) include ottomans with animal legs and zebra striped chairs, with emphasis on the use of conflicting materials and finishes.
<img alt="yarrapointmay28two" height="583" width="400" src="/images/stories/2013/05/yarrapointmay28two.jpg">
"The Oly pieces create a timeless contemporary style that is unexpected, adding a sense of play to a luxurious property," Smith says.
"I have used colours that are not often seen in display apartments.
"The navy in the master bedroom would normally be considered masculine however themed with a feminine mirrored bed it creates an interesting, unexpected miss."
Yarra Point features 201 one-, two-, three- and four-bedroom apartments with prices ranging from $520,500 to $2.42 million.
Apartments range in size from 55 square metres to 214 square metres.
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Mirvac's Yarra Point comes alive with Oly San Francisco

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Beech Forest, located 43 kilometres south of Colac on the northern edge of the scenic Otway Ranges and largely known for potato farming, offers green pastures for potential buyers looking for the ultimate experience in country and farm living.
A typical farm currently on the market is a five bedroom house with a mixed farm <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/245-phillips-track-beech-forest/Property-Details-buy-residential-3601221">property</a> covering 72 hectares with an asking price of $1.25 million.
The farm comes with 3 large machinery sheds, silon and unused dairy.
A second <a target="_blank" href="https://www.realestate.com.au/property-livestock-vic-beech+forest-7396421">farm</a> listed with an asking price of $900,000 is a 70 hectare property with a recently renovated three bedroom brick veneer home.
The farm comes with two large hay/machinery sheds including calf rearing sheds as well as a 20 unit swing over dairy with a 120 tonne silo capacity with backup generator. The dairy is fited with an Alfa Laval plant, cup removers, ‘Christopher’ stall gates, ‘Coweld’ feed system and a 12,500 litre vat.
The location was put on the map after the then resident Cliff Young, became the winner of the Westfield Sydney to Melbourne Ultra marathon in 1983 at the age of 61 years.
The Beech Forest potato farm formerly owned by the late ultra-marathon runner Cliff Young, was been put up for sale this month with an asking price of $395,000.
With over 100 fruit trees, plus raspberries and strawberries the property has been run as certified organic for the past 12 years.
<a target="_blank" href="https://www.propertyobserver.com.au/news/gumboot-jogger-cliff-young-s-former-beech-forest-potato-farm-for-sale/2013052461624?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">It was bought from Cliff Young in 2001, two years before his death in Queensland, for $84,000</a>.
The ABC will be <a target="_blank" rel="nofollow" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-05-22/telemovie-pays-tribute-to-cliff-young/4705644">screening the telemovie this Sunday</a>, Cliffy on Young’s journey from potato farmer to a Sydney-Melbourne ultra-marathon runner at the age of 61.
  
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Beech Forest, the Colac district farming location, put on the map by the potato farmer Cliff Young

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The decision by Ford Australia to close its Geelong production plant in October 2016 with an expected loss of 510 jobs is “unfortunate” but the regional city’s economy is “strong enough” to absorb the shutdown, says hotspotting.com.au’s Terry Ryder. 
“There was a time when Geelong was highly dependent on manufacturing but the city has reinvented itself by moving into new industries, such as health, education and tourism,” Ryder tells Property Observer. 
“One of the positive things in the Ford announcement is that the city has several years to prepare for the event. 
“There are also new ventures in the pipeline which will counter-balance the economic impact, such as the Regional Rail Link and the plan to make Avalon the second international airport for Melbourne," he says.
Ryder says Geelong will continue to have a “strong future as an affordable lifestyle alternative to Melbourne, with improving transport links to the City”. 
The April 2013 Real Estate Institute of Victoria (REIV) update on Geelong, the Surf Coast and Queenscliff has house prices up 0.3% to $390,000 and unit prices up by 1.7% to $305,000. 
The figures are based on properties sold in the previous 12 months, updated on a rolling monthly basis. 
The highest demand was reported in Hamlyn Heights to the west of Geelong on hills that overlook Corio Bay, where the median property price increased by 2.1% in April followed by Highton in the south west, which recorded a 0.7% rise. 
In the Borough of Queenscliff the median house price rose 5% to $735,000 in April. 
The median house price in Surf Coast Shire was stable for the month at $585,000. 
The rental vacancy rate in Geelong is around 4.4% according to the REIV, with 11,659 homes reported as vacant by local estate agents.
Typical <a href="https://www.propertyobserver.com.au/victoria/first-ansett-collapse-now-ford-plant-closure-threatens-broadmeadows-property-market-ford-fordaustralia/2013052361599?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Geelong yields are between 5% to 6.5%</a> for houses and townhouses within 5 kilometres of the CBD says Peter Fort, sales manager at PRDNationwide Geelong - well above Melbourne yields of around 3.6% for houses and 4.4% for units. 
REIV spokesperson Robert Larocca says the health of any property market is directly linked to the health of the economy. 
“As a result if the closure of Ford leads to reduced economic growth and less employment then it will have a negative impact on the market. 
“It really depends on the region finding a replacement for the economic activity provided by Ford and its suppliers. Thankfully there is a strong and resilient local community,” he says. 
Larocca says the Geelong market has displayed steady growth over the years. 
He says the strong points of the Geelong market are its more affordable houses and the appeal of its country feel and access to the bay. 
“Access to the Bellarine and Surf Coast provides great lifestyle options," he says.
“Improved transport links to Melbourne over the last decade has also allowed a growth in commuting. 
“Given the state government’s desire for decentralisation as a way to deal with population growth in Melbourne this should provide further demand for housing in the next decade or two,” he says. 
Larocca says the Geelong detached houses market has performed better than units. 
“In the market for houses we have seen the strongest growth in a range of price points with Corio house prices rising 9%, Hamlyn Heights by 8.4% and Barwon Heads by 6.2%.
Local estate agent Peter Nell from Stockdale &amp; Leggo Geelong says the Ford announcement  would effect the confidence of all types of purchasers.
"The concerns are obviously employment, as Shell, Alcoa and now Ford have all turning their backs on this town," he says.
But, he believes Geelong has so much to offer that he is sure "we will figure a way to create different forms of employment".
"But we need to do something now, not in 2016," he says.
Nell describes the Geelong market as "fair" with properties selling provided vendors meet the market on price.
"Listings on the other hand are much harder to obtain as loads of vendors are hesitant in putting their homes on the market and are hoping that the market might improve," he says.
Nick Lord, director at Maxwell Collins Real Estate, says the Geelong property market will continue to see healthy growth over the coming years "with demand still strong from investors and home buyers from within the city but more importantly from purchasers who do not currently reside in Geelong".
"While the pending closure of Ford is very disappointing for the town and we feel for the employees and their families, our city has grown to have strong employment in areas such as education and health to name just a few," he says.
He says the city has changed over recent years "with people continuing to commute to Melbourne for work whilst enjoying the Geelong lifestyle"
"I feel that the Ford closure will not have a large impact on the housing market," he says.
Lord says there is renewed interest from investors due to the lowering of interest rates and average rental returns of around 5% on offer.


However, as is the case in Melbourne and other capital cities, first-home buyers "continue to be the quietest section of the market"
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