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 Insolvency and Trustee Service Australia has released a postcode-based insolvency <a target="_blank" href="https://www.itsa.gov.au/resources/statistics/personal-insolvency-activity-by-postcode-1/personal-insolvency-activity-by-postcode-2011-12/personal-insolvency-activity-by-postcode-2011-12-1">report</a>, revealing that Cranbourne recorded the highest number of bankruptcies in Victoria in the last financial year.  
According to the report, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/victorian-bankruptcies-down-66-with-cranbourne-harbouring-the-most-bankrupts/2013050160936?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">108 Cranbourne residents were declared bankrupt in 2011-2012</a>, up by 10.2% from the previous financial year, where 98 residents were declared bankrupt.  
An additional 51 <a target="_blank" href="/news">Cranbourne</a> residents entered into a debt agreement to repay over an agreed period, up from 42 residents in the previous financial year.  
The median sale price for houses in Cranbourne currently stands at $310,000, down by 4.6% on last year. The average discount required to sell a house in Cranbourne is 7.6%, while private treaty sales average 75 days on market, according to the latest RP Data report.  
The median asking rent for houses in Cranbourne is $300 a week, while rental yield averages at 5.0%.  
The median sale price for units in Cranbourne is $240,000, down by 5.9% on last year. The average discount required to sell a unit in Cranbourne is 10.8%, while units spend an average of 138 days on the market.  
The median asking rent for units in Cranbourne is $258 a week, and the average rental yield is 5.6%.  
Located 43km southwest of the Melbourne CBD, Cranbourne has a population of 67,424.  
Australian Bureau of Statistics (ABS) data shows the median age of Cranbourne residents is 32 years. Children under 15 years of age made up 23.7% of the population, indicating Cranbourne is home to a number of young families.  
According to the 2011 Census, the median weekly income of residents in Cranbourne is $1297, while the median monthly home loan repayment is $1777.  
Of occupied dwellings in Cranbourne, 19.8% were owned outright, 56.1% were owned with a mortgage, and 20.7% were rented.  
51% of occupied private dwellings in the Cranbourne area have three bedrooms, while 37.9% of dwellings have four bedrooms or more. 0.1% of dwellings have one bedroom, and two-bedroom dwellings make up 8.5% of the total number of occupied dwellings.  
The 2011 Census also showed that the most common occupations in the Cranbourne area include technicians and trades workers (17.8%), clerical and administrative workers (16%), labourers (12.1%), machinery operators and drivers (11.6%), and professionals (11.4%).
Properties that have recently been sold in Cranbourne include:  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-113023615">26 Clairmont Avenue</a>, sold on 28 February this year for $282,000 by Ray White Cranbourne. The three-bedroom house previously sold for $195,000 in 2006 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-112765171">2 Galway Place</a>, sold in January this year for $392,500. The four-bedroom house (pictured below) was listed in October last year for $399,000 for 87 days, and in August 2011 for $400,000-$429,000 for 196 days according to RP Data records.
<img height="320" width="470" src="/images/stories/2013/04/cranbournemay1one.jpg" alt="cranbournemay1one">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-111236303">3 Harry Street</a>, sold on 22 November last year for $293,000. The three-bedroom house previously sold for $285,000 in 2010 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-112085075">15 Jaye Place</a>, sold November last year for $325,600. The three-bedroom house previously sold for $295,000 in 2009 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-111732511">65 Fairhaven Boulevard</a>, sold October last year for $347,000. The three-bedroom house (pictured below) was listed in September last year for $349,000 for 34 days, and in 2007 for $279,950 for 15 days according to RP Data records.
<img height="332" width="470" src="/images/stories/2013/04/cranbournemay1two.jpg" alt="cranbournemay1two">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-110970615">53 Jacinta Drive</a>, sold October last year for $300,000. The three-bedroom house was listed in July last year for $304,950 for 128 days, and in 2010 for the same price, according to RP Data records.
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Cranbourne tops Victorian bankruptcies in last financial year

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The 10 lowest earning postcodes in Victoria have been revealed by a Property Observer review of the Australian Tax Office's Taxation Statistics 2010-2011 report.
The suburbs with the lowest mean taxable income are rural localities in the east of the state.
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;">
<colgroup>
<col width="64">
<col>
<col width="754">
<col>
<col width="64">
<col>
<col width="145">
<col>
</colgroup>
<tbody>
<tr height="20">
<td width="64" height="20"></td>
<td width="754">Suburbs/Localities</td>
<td width="64">Postcode</td>
<td width="145">Mean Taxable Income ($)</td>
</tr>
<tr height="20">
<td height="20">1</td>
<td>Bellbird Creek/Bemm River/Cabbage Tree Creek/Club Terrace/Combienbar/Errinundra/Manorina</td>
<td><a target="_blank" href="/news">3889</a></td>
<td align="right">23,683</td>
</tr>
<tr height="20">
<td height="20">2</td>
<td>Double Bridges/Stirling/Tambo Crossing</td>
<td><a target="_blank" href="/news">3893</a></td>
<td align="right">24,510</td>
</tr>
<tr height="20">
<td height="20">3</td>
<td>Kinypanial/Korong Vale</td>
<td><a target="_blank" href="/news">3520</a></td>
<td align="right">24,603</td>
</tr>
<tr height="20">
<td height="20">4</td>
<td>Durham Ox</td>
<td><a target="_blank" href="/news">3576</a></td>
<td align="right">25,705</td>
</tr>
<tr height="20">
<td height="20">5</td>
<td>Glenaire/Hordern Vale/Johanna/Lavers Hill</td>
<td><a target="_blank" href="/news">3238</a></td>
<td align="right">25,772</td>
</tr>
<tr height="20">
<td height="20">6</td>
<td>Tempy</td>
<td><a target="_blank" href="/news">3489</a></td>
<td align="right">26,503</td>
</tr>
<tr height="20">
<td height="20">7</td>
<td>Tresco</td>
<td><a target="_blank" href="/news">3583</a></td>
<td align="right">26,517</td>
</tr>
<tr height="20">
<td height="20">8</td>
<td>Koetong</td>
<td><a target="_blank" href="/news">3704</a></td>
<td align="right">26,896</td>
</tr>
<tr height="20">
<td height="20">9</td>
<td>Ada/Baw Baw/Baw Baw Village/Gentle Annie/Icy Creek/Loch Valley/Noojee/Piedmont/Tanjil Bren/Toorongo/Vesper</td>
<td><a target="_blank" href="/news">3833</a></td>
<td align="right">27,420</td>
</tr>
<tr height="20">
<td height="20">10</td>
<td>Gladfield/Jungaburra/Loddon Vale/Mincha/Mologa/Pyramid Hill/Sylvaterre/Terrick Terrick/Yarrawalla</td>
<td><a target="_blank" href="/news">3575</a></td>
<td align="right">27,782</td>
</tr>
</tbody>
</table>
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Bellbird Creek ranks as lowest earning postcode in Victoria dominated eastern rural localities

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Victoria's highest earning suburbs have been revealed by a Property Observer review of the Australian Tax Office's Taxation Statistics 2010-2011 report.
Toorak predictably tops the list. There were two postcodes not within Melbourne - they encompassed Flinders, Wye River and Wongarra.
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;">
<colgroup>
<col width="64">
<col>
<col width="446">
<col>
<col width="64">
<col>
<col width="145">
<col>
</colgroup>
<tbody>
<tr height="20">
<td width="64" height="20"></td>
<td width="446">Suburbs</td>
<td width="64">Postcode</td>
<td width="145">Mean Taxable Income ($)</td>
</tr>
<tr height="20">
<td height="20">1</td>
<td>Hawksburn/Toorak</td>
<td><a target="_blank" href="/news">3142</a></td>
<td align="right">145,580</td>
</tr>
<tr height="20">
<td height="20">2</td>
<td>Portsea</td>
<td><a target="_blank" href="/news">3944</a></td>
<td align="right">133,605</td>
</tr>
<tr height="20">
<td height="20">3</td>
<td>Brighton/Brighton North/Dendy</td>
<td><a target="_blank" href="/news">3186</a></td>
<td align="right">110,462</td>
</tr>
<tr height="20">
<td height="20">4</td>
<td>Albert Park/Middle Park</td>
<td><a href="/news">3206</a></td>
<td align="right">108,833</td>
</tr>
<tr height="20">
<td height="20">5</td>
<td>Kooyong/Malvern/Malvern North</td>
<td><a target="_blank" href="/news">3144</a></td>
<td align="right">105,932</td>
</tr>
<tr height="20">
<td height="20">6</td>
<td>Camberwell East/Canterbury</td>
<td><a target="_blank" href="/news">3126</a></td>
<td align="right">102,204</td>
</tr>
<tr height="20">
<td height="20">7</td>
<td>East Melbourne</td>
<td><a target="_blank" href="/news">3002</a></td>
<td align="right">99,281</td>
</tr>
<tr height="20">
<td height="20">8</td>
<td>Flinders</td>
<td><a target="_blank" href="/news">3929</a></td>
<td align="right">92,589</td>
</tr>
<tr height="20">
<td height="20">9</td>
<td>South Yarra</td>
<td><a target="_blank" href="/news">3141</a></td>
<td align="right">92,032</td>
</tr>
<tr height="20">
<td height="20">10</td>
<td>Wye River/Wongarra</td>
<td><a target="_blank" href="/news">3234</a></td>
<td align="right">91,089</td>
</tr>
</tbody>
</table>
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At $145,000-plus incomes, Hawksburn and Toorak top Victoria's highest earning postcodes

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Carlton’s Italian heritage will get a boost with the arrival of iconic Sydney Italian chain Criniti’s in November.  
Taking over Brunetti’s former site at <a target="_blank" href="https://rca.colliers.com.au/property-retail-vic-carlton-500540283">198-204 Faraday Street</a>, Property Observer understands that Criniti’s has signed a ten-year lease with a ten-year option to renew.  
When contacted, Colliers International leasing agents Mike Crittenden and Ben Tremellen declined to comment about the details of the lease.  
Criniti’s told former Herald Sun food editor Wendy Hargreaves on <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/wendyonline/status/326132219036975105">Twitter</a> on 21 April that they are moving into the old Brunetti Melbourne site.
<img src="/images/stories/2013/04/crinitimay1one.jpg" width="470" height="281" alt="crinitimay1one">
At Criniti’s helm is managing director Frank Criniti, whose dream is “to establish a traditional Italian eatery affording people the opportunity to experience authentic Southern Italian food in a restaurant environment”.
They have opened four branches in Sydney, namely in Parramatta, Castle Hill, Darling Harbour, and Woolloomooloo, since their inception in 2003. A fifth restaurant, in Manly, is set to open later this year.  
The restaurant in Faraday Street will be their first Melbourne venture.  
Brunetti’s returned to its former location on 380 Lygon Street in March this year, where it first opened in 1979.  It moved around the corner into two Victorian buildings, 198-204 Faraday Street, in 1985. 
After the Angelé family acquired the café in 1991, they expanded the premises by leasing another building next door, at 194-196 Faraday Street to accommodate a restaurant as well.   Over the years, Brunetti’s has opened several branches around Melbourne, including one at City Square on Swanston Street in the CBD, and another in Camberwell. They have also expanded internationally to Singapore and Dubai.
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Sydney Italian restaurant chain Criniti's set to open in Carlton

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Lend Lease has sold 75% of the first stage of its redevelopment of the former channel nine studios in Richmond Victoria.
Construction is underway at the site, which is the former home of the Heinz factory and a piano factory.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/studionineapril29one.jpg" alt="studionineapril29one" width="470" height="298">
Lend Lease says the 27 freehold townhouse properties have sold well and are now under construction and due to be completed in September 2013.
Lend Lease’s Ben Coughlan says there has been a strong uptake from the local owner occupier market since the development launched.
“While the project overall has appealed to a broad demographic, we have seen a number of young families purchase the larger townhouse product as a unique inner city family home,” Coughlan says.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/studionineapril29two.jpg" alt="studionineapril29two" width="470" height="257">
Lend Lease say that there is approximately a 50-50 split between investors and owner occupiers in the development.
Construction has also started on the first release of the apartments in the development.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/studionineapril29three.jpg" alt="studionineapril29three" width="470" height="260">
On completion, Studio Nine will also comprise new public open space, a small retail offering, on-site community facilities and extensive landscaped gardens.
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Lend Lease's Studio Nine split evenly between investors and owner-occupiers as construction continues

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The Victorian Government has followed the lead of the New South Wales (NSW), Queensland (QLD), Tasmanian (TAS) and South Australian (SA) governments and modified the First Home Owners Grant in a bid to boost the Victorian building industry and help reduce the state’s unemployment rate.
From 1 July the grant will increase from $7000 to $10,000 and only be available for eligible newly built homes.
Stamp duty concessions for first home-owners will also increase 40% from 1 July, for both established and newly constructed homes up to a value of $600,000.
By reinstating the new build bonus, the Victorian Government will entice young Victorians onto the property ladder; it will also create the positive spin off effect of boosting the residential construction industry at a time when the Victorian unemployment level is at a rate of 5.5%.
Data released by the Housing Industry Association two weeks ago shows new build figures in Victoria had sharply declined in recent times, down a massive 13.7%.
Research conducted by Hotondo Homes across its 29 Victorian franchises shows an average of 85 people are required to be on site at some stage during the building of a new home.
With each franchise in Victorian building an average of 10 new homes in 2012 (290 across the state), this equates to almost 25,000 people visits to these sites.
In almost all cases, these are local people involved in the manufacturing of new homes.
Currently the NSW and QLD governments offer grants of up to $15,000 to first-home buyers who purchase newly built homes or those bought directly off-the-plan. The Tasmanian Government offers $8000. In all of these states there is no financial incentive for those buying previously established homes.
The South Australian Government also offers a grant of $15,000 to those purchasing their first home, newly built or established. From July 2014 this will only be available for newly built places of residence.
Victorians did have access to a $13,000 First Home Bonus from 2010 to 2012 for new builds but this has since ceased to exist – until yesterday’s announcement by Treasurer Michael O’Brien.
By restoring the grant, the Victorian Government has provided the building industry in Victoria the kick-start it needs and will help the unemployment rate in the state as well.
Michael Renwick is managing director of building franchise <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CDIQFjAA&amp;url=http%3A%2F%2Fwww.hotondo.com.au%2F&amp;ei=7u19Udz_L4GpiAe9m4CYAQ&amp;usg=AFQjCNFR6YMzVnzPSZlYXux66CspU8bO9Q&amp;bvm=bv.45645796,d.aGc">Hotondo Homes</a>.
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po-LsXgBTHBmX

Victorian Government's modified FHOG will kick-start industry: Hotondo Homes' Michael Renwick

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The Victorian state government has significantly expanded and increased its levy on car parks in Melbourne’s CBD.
The levy has increased 37% from $950 per year to $1300 per year and will now include short-term parking-bays for the first time.
The levy previously only applied to long-term or all-day parking slots.
Residential, hospital, disabled and charity parking spaces are exempt from the levy.
It now covers an estimated 60,000 parking spaces.
The changes should increase revenue from the tax from $46.8 million in the 2013 financial year to about $91 million in the 2014 financial year.
The government said it will fund further investment in public transport infrastructure.
“The Coalition Government has already announced more than $300 million of new investment in public transport projects in this year’s Budget,” treasuer Michael O’Brien said.

“We can only afford to invest in new trains, level crossing upgrades and new stations through responsible economic management."

Car park operators have said they will pass on the fee to customers but Victorian state treasurer Michael O'Brien says  it would be the equivalent of less than $1 a day extra per space.
Sydney’s parking levy is $2160 per year per space, the result of a 2009 budget decision by the Nathan Rees Labour Government which doubled the then levy from $950 to to $2000 a year. 
The NSW  Government levy is charged to car-park owners for every off-street space within the central business district, Milsons Point and North Sydney that is not used for residential purposes.
The Victorian levy was introduced by the Steve Bracks government in 2005 to discourage driving into the city. The Coalition, then in opposition, describing it as a "flat-out tax grab".
Tony Crabb from Savills, told the The Australian Financial Review the changes would not deter commercial property construction in Melbourne, but it was unwelcome.
“Every time the budget is under a bit of strain you go back to commercial property?.?.?.?it’s very cynical,” he said.
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Melbourne CBD drivers hit with parking levy increase

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Andrew Abercrombie, the former chief executive of leasing company FlexiGroup, has bought the Toorak mansion, Edzell. He currently owns another riverfront elsewhere on St Georges Road having paid $14 million in 2007.
The April 5 deal was struck with architect Michael Spivakovsky, who’d regained the house after the former television news presenter-turned-spin doctor Simone Semmens lost control of the property that she'd initially secured with vendor finance in late 2011.
Edzell was bought in late 2011 for $11 million by Semmens with vendor finance from architect Michael Spivakovsky and his wife, Cheryl, who took security over another now-sold Semmens property, Rosecraddock, the Caulfield North mansion.
Seemens had been hoping to keep the historic 1890s Toorak riverfront Edzell while quickly selling off the waterfront block, but her plans unravelled. 
She had secured Heritage Victoria permission for the subdivision of the historic St George Road estate into two allotments, with the government department noting its "recognition of the fact that the current proprietor’s specific financial circumstances were a factor in the determination of the permit as allowed for under section 73(1)(b) of the Heritage Act 1995."
Having paid $11 million for the house and land, <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/victoria/former-tv-presenter-simone-semmens-seeks-to-offload-the-riverfront-block-at-her-grand-%2411-million-edzell-toorak-acquisition/2012062655278" target="_blank">Semmens listed an 1,800-square-metre vacant block through RT Edgar agent David Colbran</a>with unrealisable $9 million hopes.
Spivakovsky's latest sale price to Andrew Abercrombie has yet to be disclosed. Spivakorsky inherited it from his father, the acclaimed pianist Jascha.
Andrew Abercrombie, who joined the BRW Rich list in 2007 with a fortune of $379 million, became the Liberal Party's Victorian branch treasurer around 2011. His estimated net worth is now around $465 million.
Much of his wealth stems from Flexirent was conceived in 1988 when David Berkman looked at the rapid obsolescence and depreciation of fax machines. Mr Berkman, with Mr Abercrombie, formed Berkman Capital Finance, which was renamed Flexirent and went from six employees with a turnover of $2 million to $3 million a year to 55 employees and $50 million in quick time.
He is an experienced commercial and tax lawyer and was a founding partner in a legal firm operating in both Sydney and Melbourne. Following several years in property investment and tax consulting, he became involved in the Flexirent business in 1991 and until 2003 was its chief executive officer.
The heritage-protected 1890s Elizabethan Revival house was once located on 28 hectares within 1917 Walter Butler-designed gardens.
Edzell was built for the former lord mayor James Stewart shortly before his year in office.
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Toorak's Edzell sells to businessman Andrew Abercrombie

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Architect Andrew Piotrowski and his interior designer wife Marika Brand have put their five-bedroom Beaumaris home on the market with price expectations of above $4 million.
Located on Tramway Parade, the 900-square-metre property boasts 180 degree bay views through four-metre high atrium windows and features rooftop terraces.
The property features a self-contained apartment, home theatre and games room, an indoor pool, a wine cellar and a lift.
The self-contained apartment includes a bedroom and ensuites with a bluestone-surrounded wood fire and its own garden and entrance.
Real estate agent Marshall White says the bayside home is one of the most expensive properties to be offered in the suburb.
The property at 1 Point Avenue holds the crown for the suburb's most expensive, having sold in 2009 for $4,010,000.
It features four bedrooms and four bathrooms and is situated on a 746-square-metre block.
<a href="https://7tramwayparadebeaumaris.com/gallery" target="_blank">The current Tramway Parade home is listed</a> by Rae Tomlinson and Rob Strickland of Marshall white with EOI closing May 7.
The high-end Beaumaris auction scene has been quiet in recent years but back in 2009 there was also 20-22 Balcombe Park Lane that sold for $1,880,000 and 74 Tramway Parade at $1.72 million in 2008.
In 2006 a large modern house at 9 Point Avenue with a reserve of $2.275 million, was passed in at $2.1 million.
In 2005 the cliff-top home at 1 Point Avenue was passed in on a vendor bid of $2.7 million, with a reserve of $2.99 million.
The median house price in Beaumaris according to RP Data is $970,000.
Beaumaris currently has a clearance rate of 50% for 2013, with only 13 properties selling out of a total of 26 auctions, according to <a href="https://www.reiv.com.au/Property-Research/Auction-Map/Clearance-rates" target="_blank">Real Estate Insitute of Victoria.</a>
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Beaumaris home one of most expensive offered in the suburb at $4 million

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Depite the obvious strengthening in the 2013 property market, there has only been a slight improvement in estate agent price estimations since the Easter break.
Melbourne agents have seemingly slightly tweaked their auction sale price expectations, according to the latest Property Observer analysis.
But homes that sell at auction are still selling well above pre-auction price guides provided by agents, albeit by a slightly reduced amount.
Before Easter, a survey of 142 Melbourne auction sales found <a href="https://www.propertyobserver.com.au/victoria/melbourne-autumn-residential-auction-prices-fetching-well-above-price-guides/2013041160327">83% of sales fetched above pre-auction price guides</a>. Those 83% sold, on average, for 9.55% above the upper price bracket of the pre-auction price guide indication.
A new post-Easter survey of 69 Melbourne auction sales has found slightly more sales, 86%, exceeded price guides but they were slightly closer to the upper price bracket – an average of 8% over.
Of the 69 sales analysed, 22, or 32%, of them sold more than 10% above the upper price bracket. That’s compared to 30% of the pre-Easter auction sales.
The shift in near accuracy - or buyer over-bidding hestitation - came amid the homes selling for more than $1 million.
Before Easter, 91% of homes analysed which sold for more than $1 million went for above pre-auction price estimates. And 48% went for more than 10% above the upper price bracket of the price guide.
Those that sold above went for an average of 15% over.
But in the post-Easter results for the $1 milllion plus category, 85% sold for above pre-auction price estimates and 23% for more than 10% above.
Those that sold above went for an average of just 5.3% over.
The analysis comes from auction results recorded by National Property Buyers. The sales are usually desirable homes that National Property Buyers deems to somewhat worth buying for investors.
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