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

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

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

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

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

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

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The Melbourne housing market is expected to pick up this year, with strong auction  clearance rates and increased buyer activity, according to the latest market report from Australian Property Monitors (APM). 
This is despite there being a big backlog of properties listed for sale and properties taking more than a month longer than in the past to sell.
The latest report shows that average days on market in Melbourne increased from 102 days a year ago to 112 days as of February 2013 – well above the long-term average of 73 days. 
According to <a target="_blank" href="?option=com_googlesearch_cse&amp;q=APM">APM</a>, there are 42,000 properties listed for sale in Melbourne, nearly 4% less than a year ago, but still 27.5% higher than the long-term trend. 
However, the average discount required to sell a property has reduced from 7.3% to long-term average of 6.5%. 
Auction clearance rates are also significantly higher than over the same period 12 months ago, increasing from 61% to 68%, above the long-term trend of 63%. 
APM says properties in middle-ring, mid-price range suburbs are back in demand. 
“Listing numbers are also on the rise in Melbourne as sellers engage a market increasingly buoyed by a growing sense of optimism,” says APM.
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Growing sense of optimism buoys Melbourne property market: APM

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Unit rents in Melbourne increased in the March quarter despite recent additions to supply, according to APM’s March quarterly rental price series report.
Unit rents rose 2.9% in Melbourne over the March quarter, 3.8% in Perth, 2.2% in Sydney and 1.8% in Adelaide. Unit rents remained unchanged in other state capitals.
Nationally the median asking rent for units increased 2.2% in the three months ending March 2013.
House rents remained stable across the country, increasing 0.4% and unchanged in Melbourne. House rents rose 7.7% in Darwin over the quarter, 4.3% in Perth and 1% in Canberra.  House rents fell 3.1% in Hobart and remained unchanged elsewhere.
<img alt="apmapril11onethumb" src="/images/stories/2013/04/apmapril11onethumb.gif" width="470" height="211">
The unit rent rise in Melbourne came as a surprise to <a target="_blank" href="?option=com_googlesearch_cse&amp;q=APM">APM</a>’s senior economist Andrew Wilson. Recent increases in apartment supply in the city should have mitigated any increase in demand. It was Melbourne’s first unit rent rise for quite some time.
<img alt="apmapril11twothumb" src="/images/stories/2013/04/apmapril11twothumb.gif" width="470" height="211">
Melbourne’s house rents, unchanged over the quarter, are 28% lower than in Sydney.
He says increased demand for unit accommodation will continue in Sydney and Melbourne driven by affordability constraints and lifestyle preferences but in Melbourne, new apartment growth will act to offset rental increases.
House and unit rents remained unchanged in Brisbane suggesting homebuyers are being activated by low interest rates and low entry-level home prices are taking some demand away from the highly competitive rental market.
Perth’s continued rent increases were driven by record levels of new arrivals seeking accommodation.
Perth median house rent is currently at $490 a week and looks set to overtake Sydney as the most expensive of all the major capitals.
Darwin remains the most expensive capital city rental market with house rents at $700 per week and units at $550 per week.
Wilson predicts rent increases will continue in Perth, Darwin and Sydney due to chronic shortages of housing.
He predicts rental growth in Adelaide, Hobart and Canberra will remain subdued over the remainder of 2013 “reflecting the under-performance of those local economies”.
“For investors, Perth and Brisbane are both performing well. Perth gross yields for units at 5.82% are the highest of all the major capitals with house yields at 5.20% just behind the leader Brisbane at 5.22%. Brisbane unit yields are just behind Perth at 5.55% with plenty of potential upside for capital gains in a recovering market environment.”
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Unit rents rise in Melbourne despite supply additions: APM

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Office space in East Melbourne is in popular demand from boutique consultancies, resulting in the lowest office vacancy rate in Australia of 3%.
East Melbourne offers 183,781 square metres of office space but currently has a direct vacancy rate of 2.2%.
The demand for office space is exceeding the space available; however there has been no increase in supply since the first half of 2009 and no new supply is in the pipeline.
West Perth is the only suburb that comes close to equaling East Melbourne’s current vacancy with a vacancy rate of 4.5%, according to the latest PCA data.
Savills Australia’s senior leasing executive Louise Nicoll says the area has always been popular with a constant stream of enquiry but there was never an overload of enquiry.
“Ironically, the fact that there isn’t any space available, only seems to make it even more desirable and that has intensified the demand,” says Nicoll.
“East Melbourne is not a big market but it has a lot to offer in terms of its location on the doorstep of the CBD.”
Nicholl says the suburb’s architecture and overall character and ambiance is a major draw card.
East Melbourne contains some of Victoria’s oldest homes, parks and gardens.
The most famous office building is the ICI house located at one Nicholson Street, which was completed in 1958.
Melbourne based private investor Brendan Sullivan recently leased a whole floor at his 126 Wellington Parade building opposite the MCG.
“The space had a cool makeover to appeal to the boutique market, but enquiry is always good in this market and in this case was really quite remarkable,” says Sullivan.
Sullivan says the floor received several offers and leased very quickly.
Both domestic and offshore buyers are realizing now is the time to buy investment properties within the metropolitan office market due to tightening vacancy rates, low levels of new supply and steady rental growth.
“Astute investors, particularly cashed-up private investors and syndicates, have begun to take notice of the strong fundamentals that many of these markets have to offers,” says Colliers managing director of capital markets and investment sales John Marasco.
There was more than $2.3 billion worth of investment transactions within the metropolitan office markets in 2012 – the strongest result since 2007, according to Colliers latest Metropolitan Office Research &amp; Forecast report.
“This scenario is likely to continue until developers and financiers gain more confidence to develop and the next supply cycle begins,” says Marasco.
Melbourne remains a domestic buyers market with no foreign purchasers in 2012.
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East Melbourne office space experiences lowest vacancy rate in Australia

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Located five kilometres from the Melbourne CBD, Prahran is ripe with period architecture and facilities which are attractive to homeowners and investors, says Richard Wakelin of Wakelin Property Advisory. 
In Wakelin’s latest video on <a target="_blank" href="https://wakelin.com.au/">Wakelin.com.au</a>, he says property values in the area have shot up in the last 20 years as a result of the attractions now offered in <a target="_blank" href="/news">Prahran</a>.
With Chapel Street one of the main attractions, the area has an abundance of cafes and retail shops.
Wakelin says properties in Prahran that are rich with period architecture and are located in a period style streetscape have consistent strong demand due to their scarcity.
However, the underpinning characteristic is the value of the land, he says.
“Improvements are timeless, it’s the land that dictates the value of properties,” says Wakelin.
“Markets like Prahran take a breather, but because of their high scarcity value, they are held down by economic sentiment and the investment cycle.”
“They sit ready, poised, to take off when conditions are right again,” says Wakelin.
Wakelin says we are currently seeing early signs of a turn around in the property market, particularly as a result of easing monetary, which is making interest rates and borrowing particular appealing.
“These sort of properties take off in a significant manner,” says Wakelin.
A two-bedroom, one-bathroom home on <a href="https://www.realestate.com.au/property-house-vic-prahran-112855299" target="_blank">Russell Street</a> (pictured below) is currently listed for sale for $729,000.
<img alt="prahranapril10one" height="353" width="470" src="/images/stories/2013/04/prahranapril10one.jpg">
It was built in 1910 and sits on approximately 162 square metres of land.
It is listed by Lauchlan Waterfield of Hocking Stuart Armadale.
A two-bedroom, one-bathroom property on <a href="https://www.realestate.com.au/property-house-vic-prahran-113350403" target="_blank">Donald Street</a> (pictured below) is listed for sale with a price guide of $700,000 to $770,000.
<img alt="prahranapril10two" height="351" width="470" src="/images/stories/2013/04/prahranapril10two.jpg">
Built in 1930 and sitting on approximately 465 square metres, the property is listed by Fiona Martin of Hocking Stuart Armadale.
The median house price in Prahran is $900,000, according to RP Data.
Wakelin's video can be found <a href="https://wakelin.com.au/blog/view/id:80" target="_blank">here.</a>
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Prahran poised after taking a breather: Richard Wakelin

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A 354-hectare property in Arcadia in central Victoria has been listed for sale with a price guide of $2 million.
<a target="_blank" href="https://www.realestate.com.au/property-other-vic-arcadia-7467307">Mellowood</a> operated as a Poll Hereford cattle property for 25 years, but after the passing of her husband, owner Helen Jennings has decided to sell.
The 1870 Mellowood homestead has recently undergone major renovation – including the replacement of the roof – and features four bedrooms and two bathrooms.
The property also features a tennis court, swimming pool and adjoining the historic brick homestead is a barn with stables attached.
Arcadia is located midway between <a target="_blank" href="/news">Nagambie</a> and <a target="_blank" href="/news">Shepparton</a> in Victoria.
The 354-hectare property has three long road frontages and is on three separate titles.
The main point of entrance is off Dawsons Road.
The land is subdivided into 30 main paddocks and recent improvements include steel stockyards, two hay sheds and two machinery sheds.
“Properties of this scale with a classic homestead and valuable farming improvements of quality are a rare enough offer,” says listing agent Bart O’Sullivan of Pat Rice and Hawkins.
The property currently has a 262-megalitre-water entitlement, which the successful purchaser of the property will also have the right to buy.
O’Sullivan is offering the property as private sale and is selling it as a whole, or in two lots.
O’Sullivan says the property has received steady interest.
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