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

<html><body>
The veteran Channel 7 weatherman David Brown has embarked on a new career in real estate.
He has his first listing at <a target="_blank" href="/news">Park Orchards</a>.
The meteorologist has signed on with Hoskins Real Estate in Melbourne's east having been replaced in his prime-time news slot by former Olympic swimmer Giaan Rooney.
He stays on at Seven as network meteorologist covering special weather events for shows including Sunrise, Sunday Night and Today Tonight.
The Hoskins director John Hoskins said the long-time Park Orchards resident had join <a target="_blank" href="https://www.hoskins.com.au/about/company-profile/">the sales team at the Donvale office</a>.
Brown is yet to be added to the sales team featured on the company office website, or website page, but has a page on <a href="https://www.propertyobserver.com.au/https://www.thehomepage.com.au/agent/david-brown/31540" target="_blank">thehomepage</a> website.
<img alt="davidbrownapril26one" height="346" width="470" src="/images/stories/2013/04/davidbrownapril26one.jpg">
His listings include a <a target="_blank" href="https://www.realestate.com.au/property-house-vic-park+orchards-113584487">Park Orchards house</a> with $740,000 plus hopes which he has described as a "hidden treasure" with "sturdy bones" that is "soaked in northern light" with a "heart warming ambience."
The house comes with split-system air-conditioner.

</body></html>

jchancellor-FAypfDUnLy

David Brown set to find that property prices can be almost as unpredictable as the weather

<html><body>
The Vizard family have bought in South Yarra, some six months after selling in St Kilda.
Its a late 1970s Caroline Street Graeme Dunn-designed architectural landmark bought from the Redlich family. Its selling agent Tim Derham at Abercromby's Armadale marketed it as "significant for the integrity of its design, irresistible for the family success of its spaces – deserving of its landmark status."
Its living, dining and entertaining spaces come with natural light from northerly aspects along with having a study/library with a courtyard and a separate kitchen/dining domain that has some contemporary elements introduced after the 1978-design of the home that sits on 584 square metres.
Title Tattle recalls the property last traded at $70,000 in 1977 when bought by the late lawyer Peter Redlich and his wife, Sally. Then shortly after its completion it appeared in a 1980 Australian Home Beautiful under the heading, "A No-frills Lifestyle".
Last October the former TV personality turned broadcasting entreprenuer Steve Vizard and wife Sarah sold their St Kilda mansion, Clendore, a three-storey Italianate Victorian with 17 rooms and a rooftop pool for around $8 million.
It was been bought by former champion skateboarder and streetwear fashion entrepreneur Peter Hill, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/globe-international-co-founder-peter-hill-sells-hawthorn-s-invergowrie-for-likely-%2420-million/2013042460697">who recently sold Invergowrie, the 1.1 hectare Hawthorn estate for an estimated $20 million</a>, as reported by Property Observer.
Vizard and wife Sarah, who renovated the seven-bedroom, 10-bathroom home after paying $3.96 million in 2004, took a year to sell the Fitzroy Street property, <a href="https://www.propertyobserver.com.au/victoria/melbourne-businessman-steve-vizard-sticks-with-%248-million-plus-hopes-for-st-kilda-mansion-clendore/2012070855470">which was listed with $8 million-plus hopes</a>. It came with 15-person lift.
Title Tattle can't quite get an accurate sale price indication on the South Yarra house which sold earlier this month following a $3.8 million price expectation, but the last house sale on Caroline Street was a double-fronted Victorian with its Peter Carmichael redesign sold by the Liberman family.
Set on an 895-square-metre block, it sold through Darren Lewenberg and Gowan Stubbings at Kay &amp; Burton for $3.625 million late last year to the Harris family.
The modern home behind its Victorian façade had been briefly listed in mid-2011 with $4 million-plus hopes, which were revised to $3.75 million plus.
Graeme Gunn was the head of the School of Architecture and Building at RMIT University (1972–1977) then foundation Dean of the Faculty of Architecture and Building at RMIT University (1977–1982).
He has received a number of architectural awards for his design and practice including the RAIA Victorian chapter president’s award for Lifetime Contribution to Victorian Architecture (2001) and in 2011 he was awarded the Gold Medal for his lifelong contribution to architecture by the Australian Institute of Architects.
He is currently a Director of Gunn Dyring Architecture and Urban Design along with Sophie Dyring.
In <a target="_blank" href="https://www.architecture.com.au/i-cms?page=15324">an AIA 2011 recollection</a> Gunn noted the Redlich house was among his seminal courtyard houses where he explored the integration of useable open space as an adjunct to those spaces within buildings. Gunn is mooted to be commissioned to modernise the home for the Vizards.
</body></html>

Steve Vizard buys into "no frills" South Yarra after selling in St Kilda to Peter Hill: Title Tattle

<html><body>
A bluestone church in Hexham, Victoria, has been listed for sale, just 50km south-east of where a church in the southern Grampians sold recently for double pre-auction price expectations.
The 1862-built St Andrews Uniting Church has reported price expectations of between $150,000 and $200,000.
It is being sold by Rob Rickard from Elders in Mortlake and Camperdown.
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/dunkeld-church-sells-for-nearly-double-expectations/2013041560397">A 1914-built church</a> in Dunkeld, 250 kilometres west of Melbourne, sold earlier ths month for $230,000, which was nearly double its price expectations going into auction.
The vendor bought the latest listing, a Hexham building, at <a href="https://www.realestate.com.au/property-other-vic-hexham-113453443">Roger Street</a>, from the Uniting Church two years ago and made some slight alterations before deciding to now sell.
“He’s decided he doesn’t have the time to put in it, but feels that somebody else should have the opportunity,” Rickard told Fairfax Media.
Rob Rickard was the selling agent in February 2010 when it sold for $162,000, almost triple its reserve of $60,000. There were 200 people at that auction with bids coming from New South Wales, South Australia and Melbourne.
The church closed in 2009 due to a dwindling congregation.
The auction includes the pews and pulpit.
Planning documents say the church is one of the oldest churches in the district with a distinctive crenellated bell tower and landscaping.
According to heritage documents it was designed by Andrew Kerr of Warrnambool “in a most unusual castellated mode”.
It was formerly a Presbyterian church, St Andrews.
Other buildings of heritage interest in the town include the Temperance Hall built in 1876, and the police building built in 1860.
</body></html>

awalsh-7Ub9EypybQ

Hexham's 1862 church listed in Grampians

<html><body>
Peter Hill, the skateboarding Globe International co-founder and his wife, Angela have sold the colonial-gothic style mansion, Invergowrie Estate, on 1.1 hectares in Hawthorn.
The hush hush sale of the Coppin Grove home - once a finishing school for the city's young ladies - has probably fallen short of setting a record price for the Melbourne market.
The sale estimates are $20 million plus, possibly in two separate sales. It cost $10.75 million in 2002. The buyers are undisclosed using solicitors, Arnold Bloch Leibler as their intermediaries.
The first president of the Legislative Assembly, Sir John Palmer, began building the estate in 1846 which comes with a tennis court, fountain, botanic gardens and a sweeping driveway.
There were five buildings on the estate, including a free-standing hall, an annexe, stables of convict-mined bluestone converted into a guest house when last sold.
The $24 million sale in 2010 of the former Baillieu family estate on St Georges Road, Toorak to the soft-drink magnate Harry Stamoulis ranks as the Melbourne bigtime sale from January 2010. The title of Victoria's most expensive residential property is currently held by clifftop Portsea mansion Ilyuka, which sold for $25 million in December 2010.
Invergowrie (pictured below) is listed on the Victorian Heritage Register.
<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/invergowrieapril24one.jpg" alt="invergowrieapril24one" width="470" height="303">
At one time it was owned by theatrical entrepreneur George Coppin, who is said to have tried to demolish it. The building was saved when businessman Sir William McPherson bought it. Sir William (pictured below) rose to political heights as premier of Victoria in 1928.
<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/invergowrieapril24two.jpg" alt="invergowrieapril24two" width="250" height="347">
On his death, the property was handed over to the Association of Headmistresses of Independent Schools when it became the Invergowrie Homecraft Hostel and was later headquarters of the Victorian Post Secondary Education Commission.
It was bought by the Coogi knitwear entrepreneur Jacky Taranto in 1992 for $2.7 million who sold in 2002 to the Hills.
It was last October when the Hill's boght in St Kilda from the former TV personality Steve Vizard who sold his St Kilda mansion, Clendore.
The three-storey Italianate Victorian with 17 rooms and a rooftop pool was sold by Vizard and wife Sarah who had renovated the seven-bedroom, 10-bathroom home after paying $3.96 million in 2004.
There is a rooftop Paul Bangay-designed garden above the grand colonnaded building, which sits on a 782-square-metre Fitzroy Street block.
The mansion has a 15-person Schindler commercial double-door lift that connects all four floors.
One of the original three adjoining terraces was the home of Sir Graham Berry, the distinguished radical politician, for several years.
Images courtesy of the State Library of Victoria and The Invergowrie Foundation.
</body></html>

Globe International co-founder Peter Hill sells Hawthorn's Invergowrie for likely $20 million

<html><body>
Annadale, a new housing development in Mickleham, Victoria has embraced the parklands bandwagon.
<img src="/images/stories/2013/04/annadaleapril23one.jpg" width="470" height="289" alt="annadaleapril23one">
Located on the site of Jika farm known for its Clydesdale horse breeding and bed-and-breakfast operation at 495 Donnybrook Road, the Annadale project (pictured above and below) will consist of 1,100 new homes built among a lush woodland environment, with the Mount Ridley Woodlands incorporated into the development.
Two parks have been planned.
The <a target="_blank" href="https://annadale.com.au/">Annadale</a> master plan has been designed to embrace the landscape with walking and cycle paths part of the development’s design, along with nature trails that lead into the Woodlands.
<img alt="annadaleapril23two" height="316" width="470" src="/images/stories/2013/04/annadaleapril23two.jpg">
In addition to its proximity to parklands, Annadale is also close to existing schools and community facilities. Non-government schools and other sporting facilities are also part of the master plan.
Evolve Development is the developer for Annadale with land prices starting from $99,000.
Mickleham is 32 kilometres north of Melbourne’s CBD. Property Observer reported <a target="_blank" href="https://www.propertyobserver.com.au/land/where-to-find-blocks-of-land-around-melbourne-for-under-%24200000/2012082256169">last year</a> that Mickleham is one of eight suburbs in Melbourne where land can be purchased for under $200,000.
Inner city residential development projects offering parkland views have also become a catching trend enveloping Melbourne, as noted in a report by buyer’s advocate Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices, Property Observer <a href="https://www.propertyobserver.com.au/residential/properties-with-direct-parkland-views-fetch-higher-house-prices-secret-agent/2013040860186" target="_blank">reported</a> earlier this month.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
</body></html>

dleow-BGaNPbHWyK

Developments with parklands evolving across Melbourne

<html><body>
A three-bedroom renovated Victorian residence in Albert Park listed for weekend auction with a price guide over $1.6 million sold at an undisclosed price.
Bidding had stalled at $1.6 million with two bidders seking the house, accordng to the James Buyer Advocates report.
Located only three kilometres from the Melbourne CBD, the solid brick residence on Kerferd Road sits on approximately 256 square metres.
The home includes two bathrooms, open plan dining and kitchen and a landscaped courtyard.
The semi was built in 1890 and sits on a 256-square-metre allotment.
It has been with the same family for 15 years.
Simon Gowling of Marshall White was the <a target="_blank" href="https://www.marshallwhite.com.au/5396505/">listing</a> agent.
The REIV reported a clearance rate of 72% this weekend compared to 69% last weekend, which was revised down from its preliminary 71% advisory.
There were 628 auctions initially reported to the REIV, with 454 selling and 174 being passed in, 110 of those on a vendor bid.
By Sunday there were 653 auctions reported to the REIV, with 468 selling and 185 being passed in, 117 of those on a vendor bid.
There were a scheduled 720 Melbourne auctions.
Next weekend the REIV expects around 670 auctions.
</body></html>

ntrotman-Et3xWpamVh

Two bidders then passed-in Albert Park semi sells post-auction for around $1.6 million pre-auction estimate

<html><body>
The neighbouring property of last week’s most expensive sale has topped the list for the third week of April, selling at auction for $3.97 million, according to RP Data.
Located at 73 St Vincent Place Albert Park, the three-bedroom, one-bathroom property is situated on a 481-square-metre allotment. 
The property was originally part of a three-terrace property owned by the Loreto Sisters, who bought it in 1969.
Prior to the Loreto Sisters purchase, the property had been a Christian Brothers boy's hostel, which closed in June 1967.
The property changed hands four years ago when acquired by Fiona Olney-Fraser, wife of corporate raider Darren Olney-Fraser, for $10.1 million, who then split the property up into three empty shells.
Westpac took control of the properties in 2010.
75 St Vincent Place topped <a href="https://www.propertyobserver.com.au/victoria/rare-st-vincent-place-mortgagee-sale-attracts-four-bidders/2013041560418?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">last weeks top 10 most expensive sales list</a> having sold at auction for $4.3 million.
Listing agent Michael Szulc of Cayzer Real Estate Albert Park says the auction was almost a carbon copy of the week before, with a strong attendance rate of around 200 people and five bidders.
Szulc says the slightly lower price was expected due to the structure of the building.
The last terrace <a target="_blank" href="https://www.cayzer.com.au/index.cfm?pagecall=property&amp;propertyid=2299862&amp;menuItemID=">77 St Vincent Place</a> will go to auction Saturday April 27.
Mal James of James Buyer Advocates ranks St Vincents Place as equal second as Melbourne's highest land value street at approximately $6,000 per square metre - not far behind Brighton's absolute waterfront streets of $9,000 per square metre.
James says the successful buyers will face a renovation bill of between $2 million to $3 million depending on their wishes.
If number 77 sells for over $3 million this weekend, it will represent a 20% increase on the 2008 sale price of just over $10 million for all three terraces. 
New South Wales continues to dominate the top 10 most expensive sales list with six properties listed.
Victoria is securing more spots on the list as we bid farewell to the school holiday period, having four properties listed this week – two more than last week.
The top 10 most expensive sales across Australia last week were
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/73_st_vincent_place_albert_park_vic_3206/9183476">73 St Vincent Place, Albert Park, VIC, 3206</a>, three-bedroom house, sold at auction on April 20 by Cayzer Real Estate Albert Park for $3.97 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/43_willis_street_hampton_vic_3188/11166593">43 Willis Street, Hampton, VIC, 3188</a>, four-bedroom house, sold at auction on April 20 by R T Edgar Real Estate Brighton for $2.555 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_pemberton_street_strathfield_nsw_2135/6492258">20 Pemberton Street, Strathfield, NSW, 2135</a>, five-bedroom house, sold at auction on April 20 by Raine &amp; Horne Burwood for $2.35 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/123_beach_road_parkdale_vic_3195/12460163">123 Beach Road, Parkdale, VIC, 3195</a>, four-bedroom house, sold at auction on April 20 by Hodges Real Estate Mentone for $2.28 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/37_wolseley_road_point_piper_nsw_2027/5498957">3/37 Wolseley Road, Point Piper, NSW, 2027</a>, four-bedroom unit, sold at auction on April 20 by McGrath Estate Agents for $2.165 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/40a_brown_street_newtown_nsw_2042/15055485">40A Brown Street, Newtown, NSW, 2042</a>, four-bedroom house, sold at auction on April 20 by Raine &amp; Horne Double Bay for $2.125 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/6_worcester_place_turramurra_nsw_2074/7008127">6 Worcester Place, Turramurra, NSW, 2074,</a> four-bedroom house, sold at auction on April 18 by L J Hooker Wahroonga for $2.025 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/8_gregory_street_south_coogee_nsw_2034/6255301">8 Gregory Street, South Coogee, NSW, 2034</a>, three-bedroom house, sold at auction on April 20 by McGrath Estate Agents for $1.91 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/36_chapman_street_north_melbourne_vic_3051/12302526">36 Chapman Street, North Melbourne, VIC, 3051</a>, four-bedroom house, sold at auction on April 20 by Nelson Alexander Carlton North for $1.901 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/57_lauderdale_avenue_fairlight_nsw_2094/2306862">3/57 Lauderdale Avenue , Fairlight, NSW, 2094</a>, three-bedroom unit, sold on April 20 by Bergelin Estate Agents for $1.75 million
</body></html>

Albert Park terrace tops 10 most expensive sales for second week

<html><body>
Celebrity chef Adriano Zumbo is joining the likes of Masterchef’s George Calombaris and leasing a ground level retail space in Fridcorp’s South Yarra development Lilli.
It will be the first Melbourne store for the patissier, who signed a ten-year lease with two further seven years option.
The Lilli apartment development (pictured below) is now fully leased on street level, boasting Calombaris’ Mama Baba restaurant and Two Birds One Stone café. The former warehouse precinct has been turned into a place to shop, meet and eat with the 120-apartment complex built on the site of the notorious former Salt nightclub.
<img src="/images/stories/2013/04/lilliapril23one.jpg" alt="lilliapril23one" width="470" height="673">
There are still a number of office suites available on level five of the Claremont Street project.
The celebrity chef Adriano Zumbo has been busy tantalising the tastebuds of Sydneysiders close to Balmain with his sweet creations like macaroons, moreish passionfruit tarts, gateaux and croquembouche before hitting national celebrity status as a Master Chef judge in 2010.
Zumbo and fellow Masterchef judge George Calombaris will be side by side at lilli where Fridcorp sought out the best culinary names for its Forrest Hill precinct development.
Designed by Hecker Guthrie and Elenberg Fraser, lilli will help expand Melbourne’s laneway culture to South Yarra with the final section of a pedestrian laneway forming a bustling retail hub connecting Chapel Street to South Yarra station.
It was last July when the team behind Melbourne's successful Three Bags Full, APTE and Liar Liar cafes opened the doors to their latest dining destination - Two Birds One Stone -  on the ground floor of the lilli development.
Nathan Toleman of Two Birds One Stone suggested the cafe provided bespoke and intimate experiences not only designed for attracting a new crowd from 3141 and the surrounding postcodes, but for their loyal customers from their previous venues.
Mama Baba opened in January 2012, Mama Baba displaying the cultural influences of Calombaris' background.
"Mama Baba is all about handmade pasta influenced by my Greek Cypriot mother and my half-Italian father. 
"It's also about an experience," Calombaris said.
"We have brought back old school cocktails, local beers on tap and a wine list that focuses on Italian, Greek and interesting local varietals."
On its 2009 off the plan launch the pricing of the apartments at lilli ranged from $350,000 to $650,000 and in size from 45 to 70 square metres.
</body></html>

Adriano Zumbo joins George Calombaris in South Yarra's Fridcorp Lilli development

<html><body>
A Long Forest, Bacchus Marsh district property that was a setting for the Australian blockbuster film Ned Kelly has been listed for sale with an asking price of $4 million.
<a target="_blank" href="https://www.realestate.com.au/property-lifestyle-vic-long+forest-7492771">The 76 Bulldog Lane listing</a> comprises 84 hectare situated 50 kilometres west of Melbourne.
The 2003 film, which stars Heath Ledger, Orlando Bloom and Geoffrey Rush, was partially filmed on the land. A hut which appears in the film is still present.
Other Australian productions, including the 1980s mini-series Flying Doctors, were also filmed at 76 Bulldog Lane.
There are three houses and six paddocks on the property.
The original homestead is an older weatherboard and is currently leased. The main house is brick veneer and has three bedrooms, two bathrooms and a study. It offers views of the Bacchus Marsh Valley, Market Garden and Famous Avenues of Honour to the west. There is also a self-contained one-bedroom house on the land.
A Telstra tower sits on the south eastern edge of the land which is currently leased to a return of $25,000 each year.
There is also 150 acres of farming/cropping/grazing land and a 29 megalitre water right which is pipe fed to the property.
It is listed with Professionals Ryder Real Estate agent Jayson Ryder.
</body></html>

lhenriquesgomes-qmh7ownJfE

Ned Kelly film location listed at Bacchus Marsh

<html><body>
The old Carlton Police Station which most likely once confined Melbourne gangster Squizzy Taylor has been listed for sale.
The vacant heritage listed Drummond Street Carlton property only ceased being the police station in 2010.
With residential 1 zoning, it is being sold by the state government through Jellis Craig by May 29 public tender.
Sitting on 992 square metres, the new of its two buildings is the 1890s six-cell bluestone jail designed by John Dow.
The 1920s gangster Squizzy Taylor, who will be the subject of the upcoming Channel Nine Underbelly series, has links to the site.
Taylor regularly frequented the area and was fatally wounded in a gunfight with his rival John Daniel “Snowy” Cutmore at a nearby house on Barkly Street on October 27, 1927.
The symmetrical brick Victorian restrained Classical-Revival style building on the street was designed by Public Works Department architects William Steel and George Watson in 1878.
It was built to replace an earlier police station at the corner of Drummond and Faraday streets.
<a target="_blank" href="https://www.jelliscraig.com.au/property/CARLTON-334-344-Drummond-Street/5395129/#.UXCCT6KnB8E">Jellis Craig agents Simon Shrimpton and Craig Shearn expect around $3 million for the tender offering.</a>
</body></html>

Latest Victoria Property News

Lowe Living set new Melbourne off the plan apartment record

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Victoria Property News

Lowe Living set new Melbourne off the plan apartment record

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News