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

Joel Robinson

Conquest partners with Woolworths to deliver mixed-use Waterloo project

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

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

First look: Orchard Piper, James Packer's Kew development revealed

<html><body>
A 1914-built church in Dunkeld, 250 kilometres west of Melbourne, has sold for $230,000, which was nearly double its price expectations going into auction.
Agent Bart O'Sullivan from Pat Rice &amp; Hawkins had hoped to sell the property in the Southern Grampians for more than $125,000, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/dunkeld-uniting-church-for-auction-with-%24125000-hopes/2013031759749">as reported in March</a>.
<img src="/images/stories/2013/04/dunkeldmarch15one.jpg" width="470" height="348" alt="dunkeldmarch15one">
O'Sullivan says it is very hard to gauge a price for properties of this nature.
“We quoted $125,000-plus through the marketing but we expected the market would eventually give us a true indication of what it was worth,” he told Property Observer.
“With the diverse range of inquiries you get on properties like this, it’s very hard to pinpoint.”
<img src="/images/stories/2013/04/dunkeldmarch15two.jpg" width="470" height="314" alt="dunkeldmarch15two">
There were five bidders at the auction. O’Sullivan says bidding was thick and fast with a bidding competition all the way.
The purchaser was a local person representing an outside party.
“It was a local gentleman who signed the contract. He paid the deposit,” O’Sullivan says.
“He may substitute himself closer to settlement or it might be put into another entity.”
<img src="/images/stories/2013/04/dunkeldmarch15three.jpg" width="470" height="314" alt="dunkeldmarch15three">
He says he doesn’t know what the purchaser will do with the property, which had interest from interstate, regional centres and locals.
“There’s always a host of ideas as to what could happen with the property. Some people look at residential, some look to develop a business. Being in the township there might be future redevelopment opportunities, but it’s always subject to approval.”
“We’re happy with the result and we were happy to have active competition on the day.”
<img src="/images/stories/2013/04/dunkeldmarch15four.jpg" width="470" height="314" alt="dunkeldmarch15four">
There will be a clearing sale on June 29 to offer the church pews and other fittings no longer required.
</body></html>

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Dunkeld church sells for nearly double expectations

<html><body>
Frankston, a beachside satellite suburb, has the most affordable units in Melbourne, according to the Real Estate Institute of Victoria.

The REIV puts the median unit price in <a href="/news">Frankston</a> at $270,000 after the suburb's median unit price increased <a href="https://www.propertyobserver.com.au/victoria/frankston-and-carlton-ranks-among-melbourne-s-10-most-affordable-suburbs-for-units-reiv/2013041260364?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">2.7% over the March quarter</a>.
A search on online real estate portals reveals an array of units for under $300,000. 
<a href="https://www.realestateview.com.au/Real-Estate/9-430-nepean-highway-frankston/Property-Details-buy-residential-4293431" target="_blank">Unit 9 at 430 Nepean Highway</a> (pictured below), an eight-year-old two-bedroom unit marketed as an investment property, is listed at $240,000 to $265,000. According to RP Data it was last listed in 2010 at an optimistic $285,000 to $310,000.
<img src="/images/stories/2013/04/frankstonapril16one.jpg" width="470" height="353" alt="frankstonapril16one">
It January the property was advertised for rent at $270 per week, giving a potential yield of 5.3% if it sells for the upper bracket.
It is being listed by Deb Sanderson of Harcourts Frankston.
<a href="https://www.realestateview.com.au/Real-Estate/1-56-screen-street-frankston/Property-Details-buy-residential-5359713" target="_blank">Unit 1 at 56 Screen Street</a> (pictured below), an unequivocally retro two bedroom unit over 100 square metres, is listed for sale for more than $275,000. It is being listed by agents Katherine Vasilopoulos and George Findikakis from Eview Real Estate.
<img alt="frankstonapril16two" height="353" width="470" src="/images/stories/2013/04/frankstonapril16two.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/4-50-petrie-street-frankston/Property-Details-buy-residential-5356515">Unit 4 at 50 Petrie Street</a> (pictured below), a three bedroom unit 740 metres from the train station, is listed for sale at more than $250,000. It has an estimated rent of $1130 per month giving a potential yield of 5.42%. Body corporate comes to $235 per quarter.
<img alt="frankstonapril16three" height="312" width="470" src="/images/stories/2013/04/frankstonapril16three.jpg">
The asking price for the apartment has varied significantly over the last few years. In 2009 it was listed at $249,950, in 2011 it was listed at more than $260,000 and in 2012 it was listed at more than $230,000.
It is being listed by Sam Bucca from Eview Real Estate.
 
<hr class="system-pagebreak">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/29-402-nepean-highway-frankston/Property-Details-buy-residential-4974289">Unit 29 at 402 Nepean Highway</a> (pictured below), a two-bedroom fully furnished unit on the first floor, is listed for sale at a negotiable $280,000.
<img src="/images/stories/2013/04/frankstonapril16four.jpg" width="470" height="353" alt="frankstonapril16four">
It has an advertised rental return of $240 per week giving a potential yield of 4.46%. It is marketed as having two large bedrooms though pictures show a rather tight squeeze in one of the rooms.
Up until January this year the apartment was listed at $245,000 to $260,000.
It is being listed by Mike Joy and Nicola Nakon from O'Brien Real Estate Chelsea.
<a target="_blank" href="https://www.realestate.com.au/property-unit-vic-frankston-113550183">Unit 9 at 1-3 Skye Road</a> (pictured below), a two-bedroom unit with a new kitchen and breakfast bar, is listed with price hopes of above $220,000.
<img src="/images/stories/2013/04/frankstonapril16five.jpg" width="470" height="310" alt="frankstonapril16five">
It is being listed by Ashley Weston of Ray White Frankston.
Off-the-plan units at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/10-12-davey-street-frankston/Property-Details-buy-residential-4835869">Airio</a>, a $50 million 97-apartment complex being developed by PNP Property Group, are being sold from $323,000.
And serviced apartments at <a target="_blank" href="https://www.propertyobserver.com.au/developments/frankston-eyesore-reborn-as-peninsula-on-the-bay-holiday-apartments/2013032559596">Peninsula on the Bay</a>, a 10-storey Nepean Highway complex, are being marketed for between $250,000 and $350,000.
Agent George Findikakis says sales in the area are driven predominantly by first-home buyers and investors.
“I think $270,000 is quite affordable for first-home buyers,” Findikakis says.
He says the new developments in the area aren’t affecting prices at the lower end of the market as they tend to be in a different price bracket.
“The market has been quite strong. At the start of last year it was a bit flat but consumer confidence picked up towards the end. Now with the election looming supply has gone down in last two or three months but prices are OK,” Findikakis says.
“I think this quarter should be quite good, as soon as the election is over. Next year is going to be better I think.”
Image of Frankston by Simon Yeo, courtesy of Flickr.
 
 
 
</body></html>

Frankston has Melbourne's most affordable units with a $270,000 median

<html><body>
A beach box in Brighton sold before its scheduled auction.
It was at an undisclosed figure believed to be around $200,000.
The <a href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2324647&amp;agentID=2634&amp;realestate=55_Beach_Box,_Esplanade_BRIGHTON_VIC_3186&amp;propertyStatus=SoldRented&amp;showGoBack=true" target="_blank">strikingly colourful bathing box </a>is known as 55 Beach Box near Dendy Street. Title Tattle understands the husband of the owner was a member of the Dendy Street Icebergers, so it served as defacto home to the Icebergers swimming club who are currently trying to get admitted to the Brighton life saving club further up the beach. They were once described as the crazy-brave swimmers who endure winter's seven-degree waters.
The bathing box was used as their change room, and also house the club trophies and was used for club functions over summer.
It was listed by RT Edgar agents Kellie Saddington and Greg Costello.
"It's one of the 82 tightly-held icons for which the beach is so renowned, located at the intersection of Dendy Street and the Esplanade which makes it easily accessible via a foot path.
"Decorated in purple and aqua-blue, the structure is fitted with split stable doors allowing the top half to remain open while the bottom half remains shut for protection during colder weather," the marketing said.
Beach bathing box 72 was Brighton beach's last offering when it failed to sell at its February auction.
The offer of $176,000 was short of its $190,000 reserve.
<a href="https://www.realestateview.com.au/Real-Estate/72-beach-box-brighton/Property-Details-buy-residential-4922749" target="_blank">It remains for sale</a> through Nick Johnstone agent David Urquhart.
Box 47 is also for sale, with an undisclosed asking price through Hodges.
The highest sale price was recorded in mid-2011 when the newest constructed Dendy Street bathing boxes sold for $221,000 and $260,000.
Set on one of the most photographed locales in Australia, they were newly built and sold by Bayside Council.
The dearer was 11 square metres, and the other nine square metres.
The 82 boxes area throwback to the 19th century, when the increasing popularity of sea bathing clashed with Victorian-era prudishness.
The first of the council's newly built weatherboard-clad structures with gabled roof offerings, reported to cost between $15,000 and $20,000 to build, fetched $215,000 at auction in December 2010.  
</body></html>

jchancellor-FAypfDUnLy

Aqua blue Brighton bathing box sells

<html><body>Australian Property Monitors (APM) has released a list of results from 120 auctions in Melbourne for the weekend of  April 13. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

po-LsXgBTHBmX

APM's Melbourne auction results for April 13 weekend

<html><body>
The Real Estate Institute of Victoria has released a list of the 10 most expensive suburbs in Melbourne for the March 2013 quarter for houses.
<table style="width: 400px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="108" nowrap valign="bottom">
 Most Expensive
</td>
<td width="135" nowrap valign="bottom">
Suburb
</td>
<td width="83" valign="bottom">
Mar-13 Median
</td>
<td width="75" valign="bottom">
Quarterly Change
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
1
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">BRIGHTON</a>
</td>
<td width="83" nowrap valign="bottom">
$855,000
</td>
<td width="75" nowrap valign="bottom">
4.6%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
2
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">TOORAK</a>
</td>
<td width="83" nowrap valign="bottom">
$717,500
</td>
<td width="75" nowrap valign="bottom">
16.1%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
3
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">PORT MELBOURNE</a>
</td>
<td width="83" nowrap valign="bottom">
$650,000
</td>
<td width="75" nowrap valign="bottom">
1.6%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
4
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">MOUNT WAVERLEY</a>
</td>
<td width="83" nowrap valign="bottom">
$647,500
</td>
<td width="75" nowrap valign="bottom">
6.8%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
5
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">KEW</a>
</td>
<td width="83" nowrap valign="bottom">
$614,750
</td>
<td width="75" nowrap valign="bottom">
11.8%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
6
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">DOCKLANDS</a>
</td>
<td width="83" nowrap valign="bottom">
$603,000
</td>
<td width="75" nowrap valign="bottom">
10.1%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
7
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">BENTLEIGH</a>
</td>
<td width="83" nowrap valign="bottom">
$598,500
</td>
<td width="75" nowrap valign="bottom">
6.4%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
8
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">CAMBERWELL</a>
</td>
<td width="83" nowrap valign="bottom">
$575,000
</td>
<td width="75" nowrap valign="bottom">
1.6%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
9
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">SOUTHBANK</a>
</td>
<td width="83" nowrap valign="bottom">
$541,500
</td>
<td width="75" nowrap valign="bottom">
-1.1%
</td>
</tr>
<tr>
<td width="108" nowrap valign="bottom">
10
</td>
<td width="135" nowrap valign="bottom">
<a href="/news">RICHMOND</a>
</td>
<td width="83" nowrap valign="bottom">
$540,000
</td>
<td width="75" nowrap valign="bottom">
2.9%
</td>
</tr>
</tbody></table>
<a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.reiv.com.au/Home/Property%20Research/Median%20Prices">More details at REIV</a>. 
</body></html>

Brighton beats Toorak as Melbourne's most expensive suburb in March quarter: REIV

<html><body>
Regional Victoria’s median house price increased in the March quarter to $311,500, according to the latest data released by the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
“Regional Victoria continued to record steady growth with a median house price of $311,500 (seasonally adjusted) following a 2% increase in the quarter,” says REIV chief executive Enzo Raimondo.
“Median prices increased 3.2% in Bendigo to reach $320,000 contrasting against a drop of 3.4% to $280,000 in Ballarat and a 1.3% drop in Geelong to $390,000,” says Raimondo.
The strongest five performing suburbs include Central Goldfields, Ararat, Baw Baw, Drouin and Traralgon.
Central Goldfields recorded the strongest growth of 27.1% over the March quarter with a median house price of $222,500.
<img src="/images/stories/2013/04/goldfieldsapril15one.jpg" width="470" height="264" alt="goldfieldsapril15one">
Drouin followed with a growth of 25.8% and a median price of $314,500. 
Ararat also recorded a strong growth of 15.7% with the median price growing to $162,000 from the December quarter price of $140,000.
Traralgon grew 7.4% over the quarter to $299,727 and Baw Baw grew 6.6% to a median price of $314,500.
The weakest performing suburb was Newborough with a 25.1% price drop over the quarter.
The median price in Newborough dropped from $247,000 in the December quarter to $185,000 in the March quarter.
Campaspe was close behind, dropping -24.5% over the quarter to $200,000.
Point Lonsdale dropped 23.5% to $562,000 from the recorded December quarter figure of $735,000.
Moe dropped 19% and Bairnsdale dropped -18.4%.
Suburbs with less that 25 sales were not included in the analysis by the REIV.
Photo courtesy of Central Goldfields Shire Council.
</body></html>

ntrotman-Et3xWpamVh

Central Goldfields house prices grow 27.1% over quarter but Newborough weakest: REIV

<html><body>
The REIV has released a list of the 10 most affordable suburbs for units.
It covers the March 2013 quarter giving their price growth or decline.
<table cellpadding="0" cellspacing="0" border="0" style="width: 400px;"><tbody>
<tr>
<td valign="bottom" nowrap width="108">
Most 
Affordable
</td>
<td valign="bottom" nowrap width="135">
Suburb
</td>
<td valign="bottom" width="83">
Mar-13 Median
</td>
<td valign="bottom" width="75">
Quarterly Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
1
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">FRANKSTON</a>
</td>
<td valign="bottom" nowrap width="83">
$270,000
</td>
<td valign="bottom" nowrap width="75">
2.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
2
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">CARLTON</a>
</td>
<td valign="bottom" nowrap width="83">
$280,000
</td>
<td valign="bottom" nowrap width="75">
-12.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
3
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">BAYSWATER</a>
</td>
<td valign="bottom" nowrap width="83">
$360,000
</td>
<td valign="bottom" nowrap width="75">
8.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
4
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">GLENROY</a>
</td>
<td valign="bottom" nowrap width="83">
$372,000
</td>
<td valign="bottom" nowrap width="75">
0.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
5
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">CROYDON</a>
</td>
<td valign="bottom" nowrap width="83">
$375,000
</td>
<td valign="bottom" nowrap width="75">
0.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
6
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">RESERVOIR</a>
</td>
<td valign="bottom" nowrap width="83">
$375,500
</td>
<td valign="bottom" nowrap width="75">
2.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
7
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">FOOTSCRAY</a>
</td>
<td valign="bottom" nowrap width="83">
$380,000
</td>
<td valign="bottom" nowrap width="75">
0.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
8
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">RINGWOOD</a>
</td>
<td valign="bottom" nowrap width="83">
$390,500
</td>
<td valign="bottom" nowrap width="75">
5.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
9
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">PRESTON</a>
</td>
<td valign="bottom" nowrap width="83">
$392,000
</td>
<td valign="bottom" nowrap width="75">
0.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="108">
10
</td>
<td valign="bottom" nowrap width="135">
<a target="_blank" href="/news">BORONIA</a>
</td>
<td valign="bottom" nowrap width="83">
$396,000
</td>
<td valign="bottom" nowrap width="75">
8.5%
</td>
</tr>
</tbody></table>
<a href="https://www.reiv.com.au/Home/Property%20Research/Median%20Prices" target="_blank">More details at REIV</a>.</body></html>

Frankston and Carlton have Melbourne's most affordable units: REIV

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The median house price in Melbourne jumped 5.1% to $561,500 in the March quarter, according to the latest data by the Real Estate Institute of Victoria.
The seasonally adjusted data shows the median house price rose from $536,500 in the 2012 March quarter – reflecting an annual growth of 4.65%.
It was the strongest March quarter for more than a decade.
REIV chief executive  Enzo Raimondo says the increase in buyers in the December quarter continued through the first quarter of this year with increased volumes, prices, and clearance rates.
“Higher sales volumes were recorded with an estimated 6.4% more sales than the March quarter last year.
“There are a number of factors increasing demand; increasing population growth, improved consumer confidence and overall affordability assisted by lower interest rates.
“High level of residential construction which has provided adequate supply, especially in the outer suburbs housing market and inner city apartment market will act to constrain price growth over the year,” says Raimondo.
Raimondo says the price growth was particularly pronounced in the inner and middle ring suburbs, with Brighton, Balwyn, Balwyn North, Northcote, Doncaster and Camberwell all recording strong growth.
Doncaster experienced the highest growth in the March quarter of 17.2%.
The median house price in December in Doncaster was $708,000 compared to $830,000 in the March quarter.
Brighton followed next with a growth of 12.5% to a median house price of $2 million in the March quarter, the first time Brighton reached this median price level.
Balwyn experienced the third highest growth of 11.4%, taking the median house price from $1.25 million in the December quarter to $1,392,500 in the March quarter.
Balwyn North experienced a price growth of 11.2% this quarter with a median price of $1.09 million.
Northcote’s house pricing grew 9.9% this quarter to a median price of $855,000.
Camberwell’s median house price is $1.4 million in the March quarter, compared to $1,287,500 in the December quarter – a growth of 8.7%.
The weakest six performing suburbs over the March quarter for house price growth include Craigieburn, Glen Iris, Malvern East, Packenham, South Morang and Wyndham Vale.
Wyndham Vale experienced the largest price drop of -13.1% over the March quarter, with Malvern East following with a price drop of -8.5%.
South Morang experienced a price drop of -7.8% and both Packenham and Glen Iris experienced a quarterly price drop of -6.0%.
Suburbs that recorded less than 25 sales for the quarter were not included in the analysis.
Melbourne's median house price fell 0.9% over the three months, according to the REIV which advised has adopted the seasonally adjusted median for overall comparisons as it is less affected by the compositional variations that are particularly pronounced in the December and March quarters.
The $534,000 December quarter figure was revised down from the initial $536,190 median.
<a href="https://www.reiv.com.au/Home/Property%20Research/Median%20Prices" target="_blank">More details at REIV</a>.
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Melbourne experiences strongest March quarter price growth for a decade with 5.1% boost to $561,000 median: REIV

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A one-bedroom apartment in Essendon was recorded as the cheapest auction sale in Victoria for the past weekend, selling for $266,000 according to Australian Property Monitors (APM).
Located at 20/44 Fletcher Road, the apartment sold at auction on April 6 through Barry Plant – Moonee Valley. 
Property Observer reported in <a href="/news">January</a> that Essendon was one of 23 suburbs in Melbourne where first-home buyers can purchase a one-bedroom apartment and pay equal or less than the estimated first-home buyer mortgage repayment in Victoria of $414 per week.
Data compiled by the Real Estate Institute of Victoria (REIV) reveals that first-home buyers in Essendon are spending $414 a week on mortgage repayments with a median price of $310,000 for one-bedroom apartments.
The self-contained apartment is close to public transport, includes a carport on title, according to Jim Michaels, the Barry Plant listing agent.
Based on an estimated $260 rental, the price reflected a likely yield of 5.8%, significantly higher than the RP Data average gross rental yield of 3.9% in the area.
Essendon is 10km north-west of Melbourne’s CBD, and is well-connected by public transport and the Tullamarine freeway. Cafes and other amenities are also easily accessible.
According to the latest report by RP Data, the median sale price for units in Essendon is $418,000, slightly down by 1.1% from last year. The average discount required to sell a unit in Essendon is 8.4%, and sales average 67 days on market.
Other one-bedroom apartments listed for sale in Essendon include:
304/201 Buckley Street (pictured below), <a href="https://www.realestate.com.au/property-apartment-vic-essendon-112516015" target="_blank">listed for $410,000</a> by Frank Trimboli Real Estate – Footscray.
<img alt="essendonapril12one" height="408" width="470" src="/images/stories/2013/04/essendonapril12one.jpg">
413/55 Collins Street (pictured below), <a href="https://www.realestate.com.au/property-apartment-vic-essendon-111938187" target="_blank">listed for $295,000</a> by Windy Hill Real Estate – Essendon.
<img alt="essendonapril12two" height="306" width="470" src="/images/stories/2013/04/essendonapril12two.jpg">
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Essendon one-bedroom apartments attracting strong buyer interest

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Real estate agents in Melbourne failed to gauge the strength of the auction market in the lead up to the Easter crescendo with a Property Observer survey revealing 83% of successful auctions selling at prices above pre-auction price estimates by real estate agents. The super-success rate was higher than three similiar surveys undertake last Spring by Property Observer.
An analysis of 142 auction results between February and late March recorded by National Property Buyers showed 118 sold for above the upper bracket of the price guides provided by agents before auction.
Of those 118 properties, 43 sold for more than 10% above pre-auction price guides.
Those that sold above the price guide were 9.55% above the upper price guide bracket on average.
The clearance rate in the March quarter was 69%, well up from 62% in the December quarter, according to the REIV – a clear sign of gathering momentum in the market which agents failed to factor into their price guides.
Properties that sold for above $600,000 had the greatest discrepancy between price guide and sale prices – of the 85 results analysed, 78 sold for above the upper price bracket, or about 92%.
National Property Buyers agent Catherine Cashmore agreed there had been an increase in the number of properties selling for prices 5-10% above reserve, yet many advertised price quotes had not yet caught up to reflect the additional demand fuelling the rises.
"Although I can understand selling agents being cautious in light of the sudden, and strong, increase in turnover - maybe doubting it's longevity - but this is no excuse for not reflecting the 'current' stronger trend when quoting," she told Property Observer.
"They have the same sales data as I do - yet I can accurately assess the price range a property will sell for 99% of the time. 'Quoting low' remains an unfortunate reality buyers must battle against."
The most extreme disparity between price guide and actual result was a three bedroom brick veneer house in Heidelberg, 59 Cape Street, which sold for 41% above the price guide. Co-agents at Kelly &amp; Shiel Carlton and Kerry Davis quoted a pre-auction price guide of $780,000 to $860,000 but it sold for $1.215 million on February 23.
Five bidders made 83 bids on the property (pictured below) which had an $860,000 reserve, according to a Fairfax Media report.
<img alt="auctionsapril12one" height="263" width="470" src="/images/stories/2013/04/auctionsapril12one.jpg">
A four-bedroom house in Northcote, at <a href="https://www.realestate.com.au/property-house-vic-northcote-113079315">5 Ross Street</a>, sold for 35% above the price guide. Agents at Jellis Craig Clifton Hill quoted a price guide of $900,000 to $990,000 before the auction but it sold for $1.34 million on March 16.
There was a bidding war between two parties interested in building on the land, yielding 52 bids, according to a Fairfax report. There was a $1 million reserve.
 
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And a four bedroom townhouse in Surrey Hills, at <a href="https://www.realestate.com.au/property-townhouse-vic-surrey+hills-112934351">2/11A Scheele Street</a> (pictured below), sold for 33% above the price guide. Hocking Stuart Balwyn agents quoted a price guide of $950,000 to $1.05 million but it sold for $1.4 million on March 2.
<img alt="auctionsapril12two" height="332" width="470" src="/images/stories/2013/04/auctionsapril12two.jpg">
Seven bidders quickly pushed the property well past its $1.05 million reserve, according to Fairfax.
Just one property analysed sold for less than the pre-auction price guide – a two bedroom townhouse in <a href="https://www.realestate.com.au/property-townhouse-vic-kensington-112890859">Kensington, 51 Leicester Mews</a>, which had a guide of $660,000 to $720,00 but sold for $530,000.
Last October in a similiar survey undertaken by <a href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500">Property Observer</a><a href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500"> it was found 75% of auctions sold for above price guides</a>. An analysis of 74 sales over the four weeks of Spring sales found 55 properties sold above price guides.
And in early October <a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988">Property Observer</a><a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988"> put the figure at 75%</a>, with 46 of 61 properties selling above the price guide.
And a September analysis undertaken by <a href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435">Property Observer</a><a href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435"> of 220 auction results found 77% sold for above price guides</a>.
 
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