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

Joel Robinson

Conquest partners with Woolworths to deliver mixed-use Waterloo project

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

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

Grave digger Sean Dillon bought his Frankston home 12 years ago after it sat on the market for 12 months.&nbsp; But nothing much has&nbsp;changed, and the wrong neighbours still&nbsp;make it hard to find a buyer.&nbsp;It&#39;s the Frankston Cemetery that&#39;s just across the road that has&nbsp;been&nbsp;the tough selling point for&nbsp;the <a href="https://www.estatecentral.com.au/property-6-clarendon-street-frankston-vic-australia/j-1536855435" target="_blank">Clarendon Street location</a>.&nbsp;

Dillion&nbsp;started working in cemeteries when he was 16 at the Springvale Cemetery as a gravedigger and doing the gardening. Dillon, who in the&nbsp;old days used to be called a sexton, is now kept busy looking after four cemeteries: Tyabb, Dromana, Flinders and Mornington, through Transfield Services.

Over the years Dillon says he has had the honour of burying famous people. &lsquo;&lsquo;I buried [footballer] Trevor Barker and [sports commentator] Ron Casey.&rsquo;&rsquo;

With mortgage repayments &ldquo;killing me&rdquo;, Dillon sought&nbsp;the help of <a href="https://www.lifestyle.com.au/tv/selling-houses-australia/gallery.aspx?id=285" target="_blank">Selling Houses Australia</a>&nbsp;for his attempt to secure a sale. He wanted $385,000 but ended up taking $353,000.&nbsp;

He had paid $117,000 in 2000 for the 700-square-metre property. Before that it sold for $59,000 in 1986 and at $27,000 in 1979.&nbsp;

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&quot;Being opposite a cemetery is a big factor, but I think they are the best neighbours you can have,&rdquo; Dillon suggested during its marketing campaign.&nbsp;&quot;You don&rsquo;t have an argument with them, they don&rsquo;t come over and tell you to turn down the stereo and you don&rsquo;t get barking dogs.&rdquo;

It was listed through Trent Martin at&nbsp;Bayside Residential.&nbsp;Set in&nbsp;Frankston&rsquo;s Golden Triangle, the&nbsp;quaint cottage&nbsp;was&nbsp;renovated by Andrew Winter&#39;s team.&nbsp; They went with&nbsp;new carpet and plenty of natural light. Its gardens had been freshened up with tropical plants, and separate kids&#39; play area, cubby house included.&nbsp;&nbsp;

Structurally the house had been in a terrible state without a shower or a working kitchen before its $30,000 renovation. Marketed with&nbsp;emphasis on its proximity to Frankston CBD, transport, hospitals, universities, TAFE, and the new EastLink and Peninsula Link,&nbsp;investors were advised&nbsp;the&nbsp;property has potential to be sub-divided (STCA) and with the area&#39;s rental low vacancy rates&nbsp;had&nbsp;an estimated rental return of $1,400 and $1,550 per&nbsp;month. It was subsequently available for rent through&nbsp;Emily Dowel at $1,520 a month. &nbsp;

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Andrew Winter exorcises property adjacent to Frankston Cemetery, with neighbours quiet as the grave

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Jacks Ridge, the Merricks North house designed by Robert Boyle, has been sold by the Jack family.
<a href="https://www.realestate.com.au/property-house-vic-merricks+north-112179975" target="_blank">The 18-hectare Junction Road property </a>has elegant parklands, along with extensive beds of roses and perennials, Manchurian pear avenue, a box-bordered English lavender parterre and croquet lawn and golf green.
The stone-and-timber four-bedroom house with wrap-around veranda overlooks vineyards and Port Phillip Bay in the distance.
There are vineyards of chardonnay on one side of the homestead and pinot noir on the other. The vines were planted around 1996. The Mornington Peninsula property comes with guest accomodation.
<a href="https://www.jacksridge.com.au/" target="_blank">Fletchers Canterbury agent Rob Fletcher </a>had $6 million hopes, with its sale price not revealed. 
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Jacks Ridge, the Merricks North vineyard, sells

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With production costs on the rise, land losing value and supermarket wars driving down the price of milk, Victorian dairy farmers are doing it tough. 
Farm gate milk prices have fallen 15% in 12 months to 35¢ per litre, according to recent ABC television program The Business. 
It now costs far more to produce a litre of milk than the farmer will recoup by selling it.
“Some farmers are earning as little as 28¢ a litre,” according to Kerry Callow, United Dairy Farmers of Victoria president.
“Most farmers are facing a loss this year … as the cost of feed and electricity has risen up to 50%,” says accountant and dairy specialist Gary Smith from Coffey Hunt Accountants. 
“On an average client, we are looking at a cashflow effect of $250,000.”
The rising costs are clear to Dick McAlpine, a dairy farmer from Woodside North. 
McAlpine told Stock &amp; Land the costs have rapidly increased for his 160-hectare property, from $6,000-$7,000 per month to approximately $11,000 per month.  
Not only are production costs rising, but farm prices in Victoria are to have gone from around $7,000 per acre to $4,000-$5,000 per acre, according to one report.
“Its common in today’s market for all farms, including dairy farms, to be on the market for many months,” according to Greg Tucket, a stock and station agent with Elders for 32 years.
There has been “scant enquiry”, and “I’m not seeing any sales in Gippsland of any significance” he told Stock &amp; Land.
Farmers have no choice but to wait for prices to pick up for both their properties and their products.
Land capital assets have been significantly devalued, according to Ron Paynter, deputy president of the United Dairy farmers of Victoria.
“Those with cash resources behind them have been able to purchase poorer-quality property at maybe three-quarters of the prices that were being asked four years ago,” Tucket said.
Farmers are trying to hold onto their values, with many farms on the market for over 12 months unable to find buyers.
Paul Bourke from Gippsland Real Estate says: “There are plenty of farms that could be bought at the right money… It is very tough at the moment, I haven’t seen it tougher.” 
Victoria is responsible for the majority of Australia's milk production producing over 65% of the total output.
<img src="/images/stories/2013/02/camperdown.jpg" width="470" height="306" alt="camperdown">
Property Observer compiled a list of three current offerings, including a <a target="_blank" href="https://www.farmbuy.com/Listing_Display.aspx?ListingID=99510">180-hectare holding at Camperdown Victoria</a> (pictured above), 194 kilometres south-west of Melbourne. The farm is described by First National Real Estate agents as an "outstanding, high-productive, well-balanced dairy farm situated in prime tightly held area".  The property is for sale at $2,447,500, representing $5,500 per acre or $13,597 per hectare.
A 186-hectare irrigation dairy farm (pictured below) in Yarram District is rated a 300-cow farm. <a target="_blank" href="https://www.farmbuy.com/Listing_Display.aspx?ListingID=102490">It's for sale at $3,600 per acre, or a total of $1,652,400</a>.
<img src="/images/stories/2013/02/farm2.jpg" width="470" height="290" alt="farm2">
<a target="_blank" href="https://www.farmbuy.com/Listing_Display.aspx?ListingID=93556">A 134 hectare Leongatha property </a>(pictured below) is listed at a rate of $6,250 per acre, or a total of $2,062,500.  
<img src="/images/stories/2013/02/farm3.jpg" width="470" height="353" alt="farm3">
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Sour news for Victorian dairy farmers as milk and property lose value

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It's Melbourne meets Monaco – well, almost.

Seahorse, the super yacht of James Packer, cruised into Melbourne Docklands around 4am this morning.

Its cruised down to Melbourne for the upcoming Chinese New Year celebrations. No one knows how long it's there for, or when it heads back to Sydney Harbour, but some hope it comes back to Melbourne for the March grand prix too. Around 110 Australians possess yachts over 30 metres, according to nautical journals.

The $50 million 52 metre yacht dwarfs Texas, the neighbouring 45-metre Solomon Lew superyacht at Docklands. The giant cruiser Seahorse can accommodate 12 guests and up to 18 crew members. 

<img alt="seahorse4" height="351" src="/images/stories/2013/02/seahorse4.jpg" width="470">

The Packer boat was formerly known as Tigre d'Or, custom-built in 1999 by Dutch ship builder Amels with its steel hull and aluminium superstructure equipped with an ultra-modern stabilisation system to reduce roll motion effect. It has a maximum speed of 16 knots.

 

<img alt="seahorse" height="351" src="/images/stories/2013/02/seahorse.jpg" width="470">

 

Just 20 years ago Melbourne's docklands was an industrial wasteland. The <a href="/news">Docklands </a>concept stems back to around 1988 when the then mayor Leckie Ord proposed building an Olympic village, but with the games bid lost, and then the property market collapse, it didn't go far until Jeff Kennett's swath of major projects, including the Bolte Bridge, Federation Square, and the Docklands precinct.

<img alt="seahorse2" height="351" src="/images/stories/2013/02/seahorse2.jpg" width="470">

Melbourne's Superyacht Marina is located at Central Pier in Melbourne Docklands, the harbourside retail, entertainment, commercial and residential precinct. When the marina opened in 2006 the then minister for major projects John Lenders said it would not only expose Melbourne to a new and lucrative economic market, but make this city a more attractive destination for the world’s rich and famous.

<img alt="seahorse3" height="351" src="/images/stories/2013/02/seahorse3.jpg" width="470">

“There are about 6,000 superyachts worldwide, and now Melbourne can share in the $150 million generated in Australia each year from superyacht visits," he said.

Construction cranes are still building residential high rises at Docklands amid commercial office blocks of quite some architectural flare.

But despite the harbour having come a long way, and possibly with its priciest mooring yet, the city's broadsheet newspaper headlines were of despair.

<img alt="theage" height="629" src="/images/stories/2013/02/theage.jpg" width="470">

"Victoria is coming to a standstill" with more than 12,000 construction jobs lost and thousands more at risk as big infrastructure jobs such as the desalination plant finish and the pipeline of major building projects dries up, The Age front page story and special report said.

The jobs losses add to a record slump in the new housing sector that has contributed to the largest decline in construction jobs since the early 1990s.

The decline in building puts thousands more Victorians in related fields under pressure, including hundreds of engineers, surveyors, workers and contractors, The Age said.

The Master Builders Australia said there were about 254,100 Victorians employed in the industry in November 2012, but that was 12,200 fewer jobs than the year before, a drop that was more than double the national trend for the industry.

Executive director Brian Welch said the building and construction sector employed about 10% of Victoria's full-time workers, making it the second-largest employment provider in the state.

The executive director of the Victorian division of the Property Council of Australia, Jennifer Cunich, told The Age the industry was increasingly worried about where the next building projects would come from and this uncertainty was resulting in a downsizing of the Victorian workforce.

''If Victoria continues to bleed skilled workers to its competitor states, our ability to manage a future economic resurgence will be severely constrained,'' she said.

Of course, James Packer, the gambling tycoon has recently been overseeing the costly $2.3 billion upgrade of his Australian casino interests, Crown in Melbourne and Burswood in Western Australia.

Driving much of his outlay is the hope that Crown can keep luring China's high rollers to Australia, as Packer notes "China's wealthy are spending increasing amounts of time and money on their quality of life, with luxury travel their leisure activity of choice."

VIP players turned over $30 billion plus at Crown Melbourne annually. 
 

See more: Apartments on the market in Melbourne's Docklands

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[smartcode_project:default project_id=3205]

[smartcode_project:default project_id=3494]
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James Packer's Seahorse adds nautical glamour to Melbourne's Docklands

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The iconic Annesley House on Julia Street in Victoria’s <a target="_blank" href="/news">Portland </a>remains listed for sale with its $1.29 million asking price.
The restored two-storey residence acts as a self-contained accommodation business, with seven fully furnished apartments.
Annesley House was built in 1878 for Dr Brewer – the chief medical officer and then mayor of Portland – who not only used the house as a surgery, but lived onsite, too.
Located on 1,344 square metres, the restored house sits midway between Melbourne and Adelaide, on the western end of The Great Ocean Road.
{yoogallery src=[images/stories/2012/09/oct2portland2]}
In the early 1900s, the Wadmore sisters took over Annesley House from Dr Brewer and turned it into a guesthouse.
The honeymoon suite in the house is named after the sisters.
In the 1940s, the property was passed to Mrs Luers, who owned the property until 2004, when the current owner, Mark Robinson, bought it.
The property has an established income stream, with apartments available to book from $150 to $210 a night.
Property Observer initially wrote of its listing <a target="_blank" href="https://www.propertyobserver.com.au/leisure/heritage-1870s-portland-victoria-annesley-house-hotel-listed/2012103056735">last October</a>.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-portland-107468953">It is listed by Nick Adamson at Charles Stewart Warrnambool</a>.
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Portland's Annesley House remains listed

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A historic double brick home in Victoria’s <a target="_blank" href="/news">Maldon </a>has been listed for sale with a $690,000 asking price.
Charlotte House was built circa 1860 by carpenter John Boots, shortly after the 1850s gold rush. He was something of an evangelical entreprenuer.
Following his death in 1875, Charlotte Boots occupied the property until 1885.
Comprising three bedrooms and one bathroom, Charlotte House has been restored but still boasts original features.
The home has original timber, brick paved and flagstone floors as well as a Stanley wood stove with a water jacket.
The house also includes four open fireplaces and boasts bluestone foundations.
Boots sold the property to Ellen Paul in 1875, who then sold it to John Templeton Couchman, a local mine manager, in 1910. It has since had four more owners.
Located on Templeton Street, it is situated on a double block of 2,024 square metres.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-maldon-112892395">Charlotte House has been listed by Leah Panos at Waller Realty Maldon</a>.
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Historic Charlotte House, Maldon, listed

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Adam Elliot, the Oscar-winning creator of the animated Harvie Krumpet film, has his <a href="https://www.realestate.com.au/property-house-vic-prahran-112890831" target="_blank">Prahran Edwardian residence</a> listed for auction.
The price hopes are $700,000 plus.
<img src="/images/stories/2013/02/elliott.jpg" alt="elliott" width="470" height="353">
The two-bedroom, one-bathroom refurbished house has been home to Elliot since 2007.
Located on Fern Avenue, which is actually in Windsor, it comes with tall ceilings with antique French chandeliers.
It is scheduled for February 23 auction. 
As he has always wanted to combine his home with a mini production studio, Elliot says he's now looking for new premises north of the city with his partner, Dan Doherty.
The couple bought the property for $600,000 in 2007.
The property has been listed by Fiona Martin from Hocking Stuart Armadale.
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Adam Elliot, the Harvie Krumpet creator, list his Prahran Edwardian home 

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Popular chef and owner of Melbourne’s iconic Vue De Monde restaurant Shannon Bennett has listed his <a href="/news">Kensington </a>property with price hopes of $1.5 million to $1.65 million.
Located on Bruce Street, Kensington, the four-bedroom home is shared with his wife, Madeleine West.
It's a chef’s dream.
Bennett is the ambassador for German brand Miele and has decked out his kitchen in the best appliances on offer.
Also included is a barbecue kitchen with a pizza oven.
The property boasts Jack Merlo-designed gardens, a Japanese pond and a self-cleaning lap pool.
There's a Joost Bakker herb wall plus a vegetable garden on the roof of the double garage.
The property has been listed by Lou Rendina of Rendina Real Estate for a March 2 auction.
Title Tattle recalls the former Sydney Swan Dale Lewis, the former Essendon ruckman Simon Madden and Kangaroo teammates Leigh Colbert and Anthony Stevens were among those who’d inspected the property before it was last auctioned in mid-2004.

But the then contemporary house failed to attract a single bid after more than 300 inquiries. 

It sold to Bennett for $820,000 a few months later.

The Nicholas Murray-designed residence had been listed through Hocking Stuart, which was quoting between $800,000 and $850,000 on its 2004 listing.</body></html>

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Chef extraordinaire Shannon Bennett lists home for $1.5 million plus

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A clifftop house with a unique design of three wedges has been listed for sale in the coastal town of <a target="_blank" href="/news">San Remo</a>, Victoria.
Linda Richardson – a retired company director – has listed her five-bedroom, four-bathroom home with an asking price of $5.5 million. 
Perched above the cliffs on the Anderson Peninsula on an 8.57-hectare block, the 1990 house was designed by <a target="_blank" href="https://www.smrekararchitects.com.au/index.php?option=com_content&amp;view=article&amp;id=4&amp;Itemid=6">architect Ermin Smrekar</a>.
The property boasts 360-degree views of Bass Strait, Cape Woolamai and Kilcunda.
One of the five bedrooms is a loft and is reached via a ship’s ladder.
<img height="216" width="470" src="/images/stories/2013/01/sanremo1.jpg" alt="sanremo1">
Other features of the property include high ceilings, four fireplaces and a potbelly stove in the main lounge room.
The property also boasts a north facing swimming pool and spa.
Located on Punchbowl Road, the home has been listed by Matt Davis from <a target="_blank" href="https://www.kayburton.com.au/property/135-punchbowl-road-san-remo">Kay &amp; Burton</a> in conjunction with South Coast First National Real Estate agent Russell Wilson.
Among architect Ermin Smrekar's other works since migrating from Trieste, Italy, was an elegant early 1980s house on North Road, <a target="_blank" href="/news">Brighton</a>.
Linda Richardson was a director of Carrol and Richardson, the textile and flag manufacturers.
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Ermin Smrekar-designed San Remo clifftop listing

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The weekend release of Real Estate Institute of Victoria (REIV) median house and unit prices for the December 2012 quarter were greeted with a mixture of surprise and some celebration, perhaps indicating greater resilience in the Melbourne property market than first thought.
The REIV reported a 7.8% gain in the Melbourne median house price over the final three months of the year to $555,000, with units up 4.2% to a median value of $456,000.
But while REIV chief executive Enzo Raimondo says the results showed strengthening demand from a “combination of improved Victorian consumer confidence, four interest rate cuts and the seasonal increase in activity in the December quarter”, other quarterly data cast genuine doubt over the turnaround.
December quarter figures released by RP Data-Rismark based on its daily updated index suggest the Melbourne property market continues to undergo a correction, with house prices falling by 1.5% over the quarter and units down 2.7%.
The data provider Australian Property Monitors (APM) released its figures today, showing a more modest 2.4% gain in Melbourne house prices and a 1% gain unit prices of the December quarter, with both markets essentially treading water over the past 12 months.
Factoring in the figures from APM and RP Data provides a more sobering view of house and unit price changes over the December quarter.
Melbourne houses
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="491" colspan="4">
House price changes
</td>
</tr>
<tr>
<td valign="top" width="133">
 
</td>
<td valign="top" width="114">
Quarter
</td>
<td valign="top" width="134">
2012
</td>
<td valign="top" width="110">
Median
</td>
</tr>
<tr>
<td valign="top" width="133">
RP Data
</td>
<td valign="top" width="114">
-1.5%
</td>
<td valign="top" width="134">
-2.9%
</td>
<td valign="top" width="110">
$550,000
</td>
</tr>
<tr>
<td valign="top" width="133">
APM
</td>
<td valign="top" width="114">
+2.4%
</td>
<td valign="top" width="134">
+0.5%
</td>
<td valign="top" width="110">
$526,000
</td>
</tr>
<tr>
<td valign="top" width="133">
REIV
</td>
<td valign="top" width="114">
+7.8%
</td>
<td valign="top" width="134">
+4.7%*
</td>
<td valign="top" width="110">
$555,000
</td>
</tr>
</tbody></table>
 
Melbourne units
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="491" colspan="4">
Unit price changes
</td>
</tr>
<tr>
<td valign="top" width="133">
 
</td>
<td valign="top" width="114">
Quarter
</td>
<td valign="top" width="134">
2012
</td>
<td valign="top" width="110">
Median
</td>
</tr>
<tr>
<td valign="top" width="133">
RP Data
</td>
<td valign="top" width="114">
-2.7%
</td>
<td valign="top" width="134">
-2.5%
</td>
<td valign="top" width="110">
$435,000
</td>
</tr>
<tr>
<td valign="top" width="133">
APM
</td>
<td valign="top" width="114">
+1%
</td>
<td valign="top" width="134">
+2.2%
</td>
<td valign="top" width="110">
$391,000
</td>
</tr>
<tr>
<td valign="top" width="133">
REIV
</td>
<td valign="top" width="114">
+4.2%
</td>
<td valign="top" width="134">
+1.3%*
</td>
<td valign="top" width="110">
$456,000
</td>
</tr>
</tbody></table>
*The REIV figures compare December quarter 2012 figures with December 2011 quarter figures. APM and RP Data are annual changes over 2012.
The differences can be partly explained by the different median calculation methods used and in the case of the REIV, by the quality of the data used to calcuate its December results.
The REIV bases its figures on the median price – that is it ranks all sales from high to low recorded over the quarter and plucks out the middle or 50th percentile observation.
Australian Property Monitors (APM) and RP Data use what some would consider more sophisticated measures of median property price changes.
APM uses a stratified median price method, which controls for changes in the composition of properties sold by separating the total sample of properties into a number of sub-samples. It also issues revised figures based on better available data.
RP Data-Rismark uses a daily hedonic index, which measures home price movements on a “like-for-like” basis according to their key attributes, such as location, land size, number of bedrooms and bathrooms, and is the only provider that does not revise its figures.
The gains reported by the REIV suggest there is a trend of improving property values, but readers should keep in mind a number of issues which may have impacted on the stronger-than-expected results.
Firstly, they follow significant downward revisions to September quarter figures, which increased the gap between REIV figures quoted for the December and September quarters.
The September quarter median for Melbourne houses was revised down from $530,000 to $515,000, while units were revised down from $442,000 to $437,500.
As a result of the revisions the December quarter gains were much greater.
The stronger REIV results in the December quarter were also impacted by a lack of sales in nearly two-thirds of suburbs, which would also have skewed the data.
Property Observer analysis found there were 166 suburbs (63%) that had fewer than 30 sales over the December quarter – meaning their median price changes are less statistically reliable.
Indeed, there were only 95 suburbs that recorded a statistically significant figure of more than 30 sales.
Given that the majority of suburbs in the December quarter figures had fewer than 30 sales and revisions made to the September quarter figures, it is likely that December quarter figures will be revised downwards by the issuance of the next quarterly report.
Readers could of course consider taking an average of the three data providers (as Melbourne property market analyst Monique Sassoon Wakelin suggested investors do in her ABC radio program last year), which thereby confirms that any conclusion of a dramatic December quarter recovery may be premature.
Averaging out the three data providers’ results, house prices rose 0.8% over the quarter while units are up 0.3%, indicating something of upward trend, but no major rebound.
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