A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

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

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

Lowe Living set new Melbourne off the plan apartment record

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Garry Lyon, host of the Channel Nine Melbourne AFL Footy Show and former captain of the Melbourne Football Club, has sold his Inverloch holiday home.
<a target="_blank" href="https://inverloch.ljhooker.com.au/2A4H58">The Fern Street property</a> was on the market for <a target="_blank" href="/news">$899,000 via private treaty</a> through LJ Hooker’s Inverloch office.
Inverloch agent Allan Mann listed the former Demon star’s home suggested the marketing campaign resulted in "a good fair market price" in a market place that was showing signs of rebounding strongly.
The agent didn’t disclose the property price but buyers were being advised it would sell for $850,000.
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Retired Demon Garry Lyon sells Inverloch holiday home

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A four-bedroom house in Kurunjang was last weekend’s most affordable auction sale in Victoria, selling for $260,000, according to Australian Property Monitors.
Located at 10 Light Fingers Street, the property (pictured below) sits on a 545-square-metre block that features a large backyard. It last traded at $86,000 in 2008 and was built in 2009.
<img height="346" width="470" src="/images/stories/2013/04/kurunjangapril18one.jpg" alt="kurunjangapril18one">
Property Observer reported in <a target="_blank" href="/news">August last year</a> that Kurunjang (3337) was one of Victoria’s ten worst postcodes for mortgage arrears.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-kurunjang-113239391">Listing agent Ned Nikolic of Barry Plant Melton</a> told Property Observer that the vendor was a bank, but declined to explain the circumstances surrounding the auction.
There were four bidders present at the auction, and it appeared the successful bidder was an investor.
Based on an estimated rental of $275 a week, the auction price reflected a likely yield of 5.5%, slightly higher than the RP Data gross average yield of 5% in the area.
<a target="_blank" href="/news">According to the latest RP data report</a>, the median sale price for houses in Kurunjang is $277,000, down by 7.5% on last year. The average discount required to sell a house in Kurunjang is 9.1%, while private treaty sales average 98 days on market.
Other houses for sale in Kurunjang include: 40 Banker Street, <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kurunjang-113377675">listed for $315,000</a> by YPA Estate Agents Melton, and 10 Tulloch Avenue, <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kurunjang-113573559">listed for $319,000</a> by Barry Plant Melton.
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Kurunjang notches up Victoria's cheapest weekly sale: APM 

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Toorak units and apartments experienced the strongest quarterly price growth of 16.1% while South Yarra was the weakest performer with a price drop of 13.0%, according to the latest data released by the Real Estate Institute of Victoria.
The median price for an apartment or unit in Melbourne is $456,000 compared to $449,500 in the December quarter.
“Demand for units and apartments were more subdued with a 1.4% increase in the quarter to a median price of $456,000. A factor in this market is the increased supply in the inner city apartment stock,” says REIV chief executive Enzo Raimondo.
Raimondo says the strongest demand for units and apartments were found in Toorak, Kensington, Kew, Cheltenham, Boronia and Bayswater.
<a target="_blank" href="/news">Toorak</a> had the strongest quarterly growth of 16.1%, taking the December median price of $618,000 to $717,500 in the March quarter.
<a target="_blank" href="/news">Kensington</a> also had a strong quarterly growth of 13.5% with a median unit price of $504,000.
<a target="_blank" href="/news">Kew</a>’s median unit price in the March quarter grew 11.8% to $614,750.
<a target="_blank" href="/news">Cheltenham</a> experienced a quarterly apartment price growth of 10.6%, Bayswater experienced a quarterly growth of 8.4% and Boronia experienced a quarterly price growth of 8.5%.
Meanwhile the city fringe suburbs recorded the greatest price drops this quarter.
<a target="_blank" href="/news">South Yarra</a> experienced the greatest unit price drop of 13.0%, taking the medium price to $520,000 from the December quarter price of $598,000.
<a target="_blank" href="/news">Elwood</a> followed close behind with a price drop of 12.9% and Carlton’s medium unit price dropped 12.5% this quarter.
<a target="_blank" href="/news">Hawthorn</a>’s medium price dropped 10.5% and the Melbourne CBD dropped 7.9%.
<a target="_blank" href="/news">Frankston</a> is the most affordable suburb to purchase a unit or apartment with a median price of $270,000 -  a quarterly growth of 2.7%.
Robert Larocca from REIV says in each suburb, the unit market caters for two diverse types of buyers.
Larocca says the median for this class can and does vary in accordance with the balance of properties sold each quarter. 
“In the case of Toorak, 27% of units sold in the December quarter were priced of $1 million, and in the March quarter that rose to 40%.
Larocca says this is not because more were sold but because fewer of the affordable walk-ups on main roads were sold.
“Clearly the million dollar unit market in this suburb remains in strong demand.”
“These suburbs are not unique, Carlton also has a great diversity with a lot of small student accommodation and very expensive units.”
A two-bedroom, one-bathroom unit on Grange Road in Toorak is listed for sale with an asking price of $650,000.
Featuring a modern kitchen with parquetry floor, the property (pictured below) is <a href="https://www.jelliscraigbm.com.au/property/TOORAK-15/51-53-Grange-Road/4925571/#.UWy133BAt6o" target="_blank">listed</a> by Carly Fetter of Bennison Mackinnon Armadale.
<img alt="reivapril18one" height="310" width="470" src="/images/stories/2013/04/reivapril18one.jpg">
A one-bedroom, one-bathroom apartment in a River Street complex is listed for sale for $430,000.
The designer apartment (picture below) features a terrace and one secure car space.
<img alt="reivapril18two" height="300" width="470" src="/images/stories/2013/04/reivapril18two.jpg">
It has been <a href="https://www.castrangilbert.com.au/index.cfm?pagecall=property&amp;propertyid=2305727&amp;menuItemID=54980&amp;fromListings=true" target="_blank">listed for sale </a>by Phil Butcher from Castran and Gilbert.
Suburbs that recorded less than 25 sales for the quarter were not included in the analysis.</body></html>

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Toorak strongest unit price growth suburb but South Yarra weakest: REIV

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Parkholme, an enchanting 1933 Tudor Revival home designed by Marcus Barlow in Balwyn has been listed for sale.
It has been listed by Graeme Henderson, a divisional managing director of WorleyParsons.
The 13-room residence comes with five bedrooms plus study, with formal and informal living rooms.
The house sits on 1550 square metres over two titles allowing for tennis court and 15-metre swimming pool.
The <place><city>Henderson</city></place>s are moving for lifestyle reasons.
<a href="https://www.realestateview.com.au/Real-Estate/11-chatfield-avenue-balwyn/Property-Details-buy-residential-5023333" target="_blank">It is being offered for private sale by Marshall White agent Doug McLauchan at $3.95 million</a>.
The Manchester Unity Building, Melbourne's tallest building at the time, is Barlow's best known work. It was built in the Commercial Gothic Modern style and was the first Victorian building to have escalators and the first multi-level car park in Victoria.
Marshall White commentary indicated that as the school holidays drew to a close, purchasers were turning out in numbers with multiple bidders contesting six of its most recent seven auctions.
"Confidence has been given another boost by the release of the REIV quarterly March figures the show a 5.1% growth in the median house price which is the strongest first quarter result in more than 10 years," Marshall White's John Bongiorno said.
"The market is now evenly balanced which provides excellent opportunities for people both downsizing and upscaling," he said.
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Marcus Barlow Balwyn Tudor Revival home listed

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Investors are encouraged to keep a close eye on Port Melbourne after a recent report by property data business Residex, which suggested the suburb was performing strongly in the rental market.

The March 2013 Residex best rent report listed <a target="_blank" href="/news">Port Melbourne</a> units as among the top investment opportunities in Australia.
The median rental yield has increased to 5.41%, up from 4.5% last December. The area was doing significantly better than the average Melbourne rental yield of 4.4% for March this year, according to the report.
An RP Data report has shown the median asking rent has increased since 2008 and now standis at $655 per week, an increase of $110 from last December.
Formerly an industrial area, Port Melbourne has since experienced an urban makeover providing parklands, bay side beaches, upmarket apartments, restaurants and cafes with 49% of dwellings within the area currently being rented.
The estimated growth for the area is expected to be about 6% over the next 5 years.
However, several apartments currently available on the rental market don't reflect any recent rental price growth.
A two-bedroom, two-bathroom property at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-410135103">Esplanade East</a> (pictured below) listed for $690 per week with the rent history showing a $10 reduction since initially listed last month. In November last year it was listed at $720 per week.
<img height="351" width="470" src="/images/stories/2013/04/portmelbourneapril17one.jpg" alt="portmelbourneapril17one">
A three-bedroom, one-bathroom <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-410062775">Pickles Street</a> property (pictured below) has been listed for $650 per week. Its rental asking price has been reduced from $680 last March.
<img height="320" width="470" src="/images/stories/2013/04/portmelbourneapril17two.jpg" alt="portmelbourneapril17two">

A two-bedroom, two-bathroom <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-404860962">Rouse Street</a> apartment (pictured below) is available for $700 per week. In March it was listed at $750 per week.
<img height="345" width="470" src="/images/stories/2013/04/portmelbourneapril17three.jpg" alt="portmelbourneapril17three">

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Port Melbourne rental market gets Residex recommendation

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Melbourne's southeast has dominated a list of suburbs with the highest turnover of houses in the March quarter.
Pakenham, with a median house price of $315,000, took top spot on the list, which was published by the<a target="_blank" href="https://www.reiv.com.au/"> Real Estate Institute of Victoria</a>. But Pakenham's median house price fell 6% in the quarter.
<img height="273" width="470" src="/images/stories/2013/04/reivturnoverapril17onethumb.gif" alt="reivturnoverapril17onethumb">
Meanwhile, inner city suburbs featured heavily in a list suburbs with the highest turnover of units and apartments.
<img height="270" width="470" src="/images/stories/2013/04/reivturnoverapril17twothumb.gif" alt="reivturnoverapril17twothumb">
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Southeastern suburbs dominate Melbourne house turnover statistics: REIV

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A three-bedroom terrace in Albert Park was the most expensive sale for the second week of April, selling at auction for $4.3 million, according to RP Data. 
Located on St Vincent Place, the property (pictured below) comprises a 492-square-metre block and with no bathroom, is a renovator's opportunity.
{yoogallery src=[images/stories/2013/04/april16stvincent]}
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.
<a target="_blank" href="https://www.cayzer.com.au/index.cfm?pn=1&amp;start=1&amp;propertytype=residential&amp;firstsearch=true&amp;contentid=0&amp;listings_maximumpropertyimages=1&amp;contenttypeid=0&amp;usersortid=5&amp;pagecall=listings&amp;justlisteddays=7&amp;propertyaction=sale&amp;suburb_id=136701&amp;formtype=residential">Listing agent Michael Szulc of Cayzer Real Estate Albert Park</a> told Property Observer there were four bidders at the auction and an audience of around 200.
Szulc says the sale provided an opportunity for those wanting to turn the property into their dream home.
The other two terraces, <a href="https://www.cayzer.com.au/index.cfm?pageCall=listings&amp;suburb_id=136701&amp;propertyaction=sale&amp;firstSearch=true" target="_blank">73 and 77 St Vincent Place</a>, will go under later this month.
New South Wales continues to dominate the top 10 most expensive sales list with seven properties listed.
Victoria secured one more position this week in the top 10 sales list, <a target="_blank" href="/news">having only one property on the list last week.</a> The other property was at Alphington. 
The 10 most expensive sales across Australia last week were
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/75_st_vincent_place_albert_park_vic_3206/9183480">75 St Vincent Place, Albert Park, VIC, 3206</a>, three-bedroom house, sold at auction on April 13 by Cayzer Real Estate Albert Park for $4.3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_rowe_street_alphington_vic_3078/9207667">2 Rowe Street, Alphington, VIC, 3078</a>, five-bedroom house, sold at auction on April 13 by Miles Real Estate Ivanhoe &amp; Rosanna for $3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_wallace_street_greenwich_nsw_2065/2637052">20 Wallace Street, Greenwich, NSW, 2065</a>, four-bedroom house, sold at auction on April 13 by Century 21 Blunts for $2.692 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_mort_street_randwick_nsw_2031/5758545">7 Mort Street, Randwick, NSW, 2031</a>, four-bedroom house, sold prior to auction on April 9 by Di Jones Real Estate for $2.52 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_edgecliffe_avenue_south_coogee_nsw_2034/6254837">1 Edegecliffe Avenue, South Coogee, NSW, 2034</a>, four-bedroom house, sold after auction on April 9 by BHR Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24_russell_avenue_lindfield_nsw_2070/3774423">24 Russell Avenue, Lindfield, NSW, 2070</a>, five-bedroom house, sold at auction on April 10 by Richardson &amp; Wrench Chatswood for $2.311 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/70a_read_street_bronte_nsw_2024/1611560">70A Read Street, Bronte, NSW, 2024</a>, four-bedroom house, sold prior to auction on April 13 by GoodyerDonnelley Real Estate Woollahra for $2.21 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/165_the_boulevard_floreat_wa_6014/12177429">165 The Boulevard, Floreat, WA, 6014</a>, four-bedroom house, sold at auction on April 13 by Airey Real Estate for $2.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_oatley_road_paddington_nsw_2021/5271856">37 Oatley Road, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on April 13 by BresicWhitney Estate Agents Darlinghurst for $2.13 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_alexandra_street_hunters_hill_nsw_2110/3002130">3 Alexandra Street, Hunters Hill, NSW, 2110</a>, five-bedroom house, sold on April 10 by Ward Partners Hunters Hill for $2.05 million
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Rare St Vincent Place mortgagee sale in Albert Park attracts four bidders

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Offshore developers will account for 39% of all new apartments built in and around the Melbourne CBD between 2013 and 2016, according to figures compiled by property consultants Charter Keck Cramer.
This will equate to around 4,700 apartments in total.
The red line in the chart below shows offshore developers' rising share of the Melbourne central city market, which will peak at 58% of apartments in 2015.
Click to enlarge
<a href="/images/stories/2013/04/chartoftheweekapril17one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/04/chartoftheweekapril17onethumb.gif"></a>
Source: Charter Keck Cramer
Local developers will provide 61% of new apartments built in the CBD, Docklands, South Bank and City Road between 2013 and 2016 well down from the 92% of all new apartments they delivered between 2000 and 2012.
A similar trend – though not as pronounced – will take place across the entire Melbourne metro region with offshore developers share of the market rising from just 3% in the period from 2000 to 2012 to 15% between 2013 and 2016 – around 5,500 apartments.
Offshore developers will provide 4% of short-term future supply in the City Fringe Region ( around 2-5 km from CBD), 2% in the inner region (5-10 km) and 7% in the middle region (10 -20 km). 
The elevated participation of offshore developers in the middle region relates to primarily <a target="_blank" href="/news">Box Hill</a>, says CKC.
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Offshore apartment developers to take 58% of Melbourne market by 2015: Chart of the week

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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.
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awalsh-7Ub9EypybQ

Dunkeld church sells for nearly double expectations

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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.
 
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<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.
 
 
 
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