Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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?

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

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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.
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Developments with parklands evolving across Melbourne

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

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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
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Albert Park terrace tops 10 most expensive sales for second week

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

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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.
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Ned Kelly film location listed at Bacchus Marsh

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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>
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Old bluestone Carlton police station - with Squizzie Taylor links - listed by state government

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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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