Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.

In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.

Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.

Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.

At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.

[smartcode_project:default project_id=135149 project_image_fid=368392]

Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.

Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.

The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.

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“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.

“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.

Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.

SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.

“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.

“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”

Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.

That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.

One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.

“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.

“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”

For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.

“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”

Her terrace also supports a more connected, lifestyle-driven way of living.

“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”

Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.

Joel Robinson

Coronation champions terraces as a key piece of Sydney’s housing mix

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>.

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.

[smartcode_project:default project_id=152295 project_image_fid=368410]

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

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

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The Fair Work Ombudsman has secured $10,300 backpay for a Melbourne real estate salesman who was underpaid as part of an unlawful employment arrangement.
The salesman, a recent Sri Lankan immigrant in his 50s, was underpaid between October, 2010 and February, 2011 when employed at McDonald Real Estate Dandenong.
McDonald Real Estate directors John and Le Hoa Wysham of Aspendale also operate other real estate agencies in Melbourne.
After the salesman lodged a complaint, the Fair Work Ombudsman found that the salesman was initially unlawfully required to perform four weeks of unpaid work under a purported ‘training program’.
Over the next three months, he was paid $551 a week as an ‘advance against future commissions’, plus a car allowance of $115 a week.
However, the retainer was cancelled after about three months and the employee was paid only the $115 weekly car allowance for a month before his employment was then terminated.
Under the Real Estate Industry Award 2010, commission-only arrangements are applicable only when if it can be demonstrated that an employee has earned more than the minimum wage payable under the award selling real estate in any 12-month period over the preceding five years.
As the employee did not fit into this category, the employer should have paid wages of at least $557 a week throughout his employment.
Given the Wyshams admitted being involved in the underpayment, as an alternative to litigation they entered into an enforceable undertaking and agreed to:
<ul>
<li>Donate $1,000 to the Peninsula Community Legal Centre;</li>
<li>Make a formal written apology to the underpaid employee;</li>
<li>Develop processes for ensuring future compliance with workplace laws for all real estate agencies they are involved in - and provide evidence of the measures to the Fair Work Ombudsman;</li>
<li>Undertake a professional audit of all real estate agencies they are involved in and rectify any underpayments identified;</li>
<li>Conduct further compliance audits for the next three years;</li>
<li>Provide professional workplace relations training for all managerial, human resources, recruitment and payroll staff at real estate agencies they are involved in for the next three years;</li>
<li>Publish a public notice detailing the contraventions of workplace laws on the McDonald Real Estate website and in The Dandenong Leader and Melbourne Weekly newspapers; and </li>
<li>Display the notice at the premises of all real estate agencies they are involved in. </li>
</ul>
Fair Work Ombudsman Nicholas Wilson says that in cases of significant non-compliance, enforceable undertakings are being used as an effective alternative to litigation.
The Ombudsman has entered into more than 30 enforceable undertakings since July, 2009, while recovering $5.4 million for more than 6900 employees.
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jchancellor-FAypfDUnLy

Melbourne estate agent wins $10,300 backpay after unlawful employment arrangement

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Corio Villa, the landmark 14-room Geelong home, has been sold.
Its sale price has not been disclosed, but its most recent declared asking price was $5.85 million.
It was listed in August with $5 million-plus hopes through Wilsons listing agents Guyon and James Wilson.
Set above Corio Bay at <a target="_blank" href="https://www.wilsonsre.com.au/property/geelong/889/" rel="nofollow">56 Eastern Beach Road</a>, it's one of Australia's only surviving buildings to be made from pre-fabricated cast iron.
Manufactured in Scotland, the home was shipped to <a target="_blank" href="/news">Geelong</a> in boxes. Corio Villa was manufactured in 1855 by iron founder Charles D Young and Co. from designs by Bell and Miller, architects and engineers.
William Gray, colonial land commissioner, ordered the villa, but he died prior to arrival of the portable house shipment.
The crates with the ornate, sprawling design pieces sat unclaimed on Geelong's docks for six months before wool merchant (and later owner of The Geelong Advertiser) Alfred Douglass bought it, carted it up the hill and assembled it like a jigsaw above Corio Bay.
The house remained in his family until it was sold to Dr Keith Ross of Ballarat in 1938 and then to Arthur and Alice McAllister in 1945.
Their son, Glenn, and wife, Rosslyn, live in the house today.
Most of the decorative work echoes the pattern of the rose, and the thistle of Scotland.
Corio Villa is considered by heritage authorities as of paramount international significance not just in Geelong but to the history of industrial technology and the 19th-century British aesthetic movement.
Prefabricated residences were often imported in the 1850s to satisfy housing demand during the gold rush boom, Heritage Victoria notes.
It has its many original character features including intricate leadlight windows, plaster roses and cornices, detailed timber ceiling and wall panelling, plus ornate marble fire places.
The McAllister family have hired out the property for weddings and functions.  The house sits on 375 square metres of the 2,885-square-metre block.
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Geelong's 1856 Corio Villa sells to its fourth owner

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Centuria Property Funds, a subsidiary of the listed Centuria Capital, has sold the 11-level office building at 601 Bourke Street Melbourne to a private European fund for $29.1 million.
Since paying $23.95 million eight years ago, Centuria has strengthened the tenancy profile with extended leases from CGU Insurance Limited and AGL Limited. Earlier this year CGU leased levels four and five at 601 Bourke Street, having already committed to levels one, two and three in 2011. The lease term was for five years at $506,052.50 per annum in a deal negotiated by Ben Ward from Knight Frank and Ed Knowles from Colliers.
The landlord also made significant recent upgrades, including a full renovation of the lift controls and refurbishment of the bathrooms on five levels.
CBRE agents Mark Coster and Mark Granter and Jones Lang LaSalle agents James Kaufman and Rob Anderson brokered this week's sale of the office block which has 7980 square metres of net lettable area and basement parking for 26 vehicles.
Built in 1975, the office block on a 901 square metre holding, was formerly known as Forestry House.
In 2001 Australian Growth Properties paid $10.8m to buy 601 Bourke Street when it was a vacant building.
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Centuria sells 601 Bourke Street, Melbourne

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For many years Toorak has been considered Melbourne’s most highly valued suburb, but it lost its stranglehold on that title in 2012.  This year Toorak only managed one of the top five sales in Melbourne, with the balance been spread out across other blue-chip locations.
It's only a preliminary list, with some sales yet to make it onto official records.
<table border="1" cellspacing="0" cellpadding="0" width="285"><tbody>
<tr>
<td width="200" nowrap valign="top">
Top 5 - 2012
</td>
<td width="84" nowrap valign="top"></td>
</tr>
<tr>
<td width="200" nowrap valign="top"></td>
<td width="84" nowrap valign="top"></td>
</tr>
<tr>
<td width="200" nowrap valign="top">
21 Kooyongkoot Rd Hawthorn
</td>
<td width="84" nowrap valign="top">
$12,588,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
26 Albany Rd Toorak
</td>
<td width="84" nowrap valign="top">
$12,000,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
35 Hampden Rd Armadale
</td>
<td width="84" nowrap valign="top">
$9,500,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
78 Esplanade Brighton
</td>
<td width="84" nowrap valign="top">
$8,700,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
43 Seacombe Grv Brighton
</td>
<td width="84" nowrap valign="top">
$7,770,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top"></td>
<td width="84" nowrap valign="top"></td>
</tr>
<tr>
<td width="200" nowrap valign="top">
Total value
</td>
<td width="84" nowrap valign="top">
$50,558,000
</td>
</tr>
</tbody></table>
 This result is in stark contrast to the 2011 year when four out of the five most prestigious and valuable properties were located in the leafy <a target="_blank" href="/news">Toorak</a> streets.
<table border="1" cellspacing="0" cellpadding="0" width="341"><tbody>
<tr>
<td width="200" nowrap valign="top">
Top 5 - 2011
</td>
<td width="141" nowrap valign="top"></td>
</tr>
<tr>
<td width="200" nowrap valign="top"></td>
<td width="141" nowrap valign="top"></td>
</tr>
<tr>
<td width="200" nowrap valign="top">
2 Linlithgow Rd Toorak
</td>
<td width="141" nowrap valign="top">
$16,500,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
20 St Georges Rd Toorak
</td>
<td width="141" nowrap valign="top">
$14,500,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
16 Kenley Crt Toorak
</td>
<td width="141" nowrap valign="top">
$12,610,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
33 Chatsworth Ave Brighton
</td>
<td width="141" nowrap valign="top">
$12,000,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top">
12 Albany Rd Toorak
</td>
<td width="141" nowrap valign="top">
$11,500,000
</td>
</tr>
<tr>
<td width="200" nowrap valign="top"></td>
<td width="141" nowrap valign="top"></td>
</tr>
<tr>
<td width="200" nowrap valign="top">
Total value
</td>
<td width="141" nowrap valign="top">
$67,110,000
</td>
</tr>
</tbody></table>
 If you were looking to buy Melbourne’s most expensive property this year located at 21 Kooyongkoot Road, <a target="_blank" href="/news">Hawthorn</a> (pictured below), you would have needed to have just over $12.5 million  up your sleeve.
<img alt="kooy" height="247" width="420" src="/images/stories/2012/12/kooy.png">
Kooyongkoot is an Aboriginal word meaning ‘the haunt of the wild fowl’, and although the wild fowl are no where to be seen, for this price you could have snapped up almost three-quarters of an acre on top of the highly sort after Scotch Hill. The property was sold to an overseas buyer in March and consists of a renovated Victorian mansion with tennis court and swimming pool.
While this sale was impressive it still falls a long way short of the 2009 record sale of Avon Court (pictured below), located at 18-20 Shakespear Grove, Hawthorn, which was sold to Autobarn boss Garry Dumbrell for a tad over $20 million.
<img alt="avon" height="313" width="470" src="/images/stories/2012/12/avon.png">
From where I sat 2012 was a more consistent year across the broader market, with lower interest rates resulting in a small lift in buyer confidence, which is expected to continue into 2013.
However, this confidence was not as strong at the top end of the market. In 2011 the top five the top five sales accounted for over $67 million of real estate, compared with a touch over $50 million this year. Also the highest price sale of last year was $16.5 million, when 2 Linlithgow Road, Toorak (pictured below), was traded off market. In addition to the ivy-covered walls surrounding the 3,363-square-metre block of land, this property also comes with the standard mansion, swimming pool and tennis court.
<img alt="lithgow" height="708" width="470" src="/images/stories/2012/12/lithgow.jpg">
Image from Google Maps
For those of us who had tighter cashflow pressures this year it may have been better to opted for the bottom end of the top five sales this year.  For $7.7 million you could have snared 1,251-square-metre block of prime beachfront land at 43 Seacombe Grove, <a href="/news">Brighton</a> (pictured below). Although it does comes with a spectacular view of the beach, there is no tennis court or swimming pool, so you would need to dip further into your pocket get these.
<img src="/images/stories/2012/12/seacombe.jpg" width="440" height="293" alt="seacombe">
For anyone who is looking to secure the highest-priced Melbourne home for 2013, here are some sobering figures for you. The average sale price of this year’s top five was just over $10 million. So to start with you need to get your hands on the $1 million deposit, which is not far off double the current median house price.
From there if you are looking to finance 80% of the property value you need to find close to half a million dollars of after-tax income a year just to keep pace with interest payments.
Something to think about as 2012 winds down and we start to make plans for 2013.
I hope you all have a great Christmas break.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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marmstrong-sd3emVLPPb

Toorak loses its stranglehold on Melbourne's top-end property market in 2012

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Prospects for Melbourne property in 2013 are grim. I expect Melbourne to be the weakest of the capital markets market next year. But fortunately there’s more to Victoria than Melbourne.
Melbourne has two problems: oversupply and a state government that’s lost the plot.
Melbourne already has too many apartments in its inner-city market, but developers are intent on building more, and the state government seems hell-bent on helping them.
It also has too much residential stock for sale in the outer suburbs – and with the same problem of developers and politicians seeking to add to the surplus.
It’s a bad sign for any market when developers offer generous incentives to attract buyers. Rebates, discounts, free holidays, free cars – if developers can’t sell products without bribes, the market’s in trouble.
It’s an even worse sign when developers are running seminars in Asia, with financiers and solicitors in attendance to sign up foreign investors on the spot, to try to flog their product.
Developers like Central Equity, one of the big builders of high-rise units in central Melbourne, are staging events they like to call “Australian property expos” in Asian cities like Singapore.
Why are they up there? Because there is little local demand for their apartments.
The distortions created by incentives and overseas marketing are making its difficult to valuers to determine the true worth of apartments and house-and-land packages. Financiers are becoming increasingly suspicious of contract prices.
Lots of contracts are falling over. One research source suggests a third of residential land purchases in Melbourne’s outer suburbs are failing because valuations are not supporting contract prices.
This is a market in serious trouble.
But it’s likely to get worse. Premier Ted Baillieu and his government are behaving as if they believe there’s a shortage.
Like developers, government representatives are up in Asia courting investors to facilitate more high-rise development in Docklands and the new urban renewal precinct at Fishermans Bend.
Baillieu recently launched a new suburb in <a href="/news">Wyndham City</a> in Melbourne’s south-west, the region with the biggest oversupply problem in the mortgage belt. State government land will be carved up into another 7,000 home sites.
Clearly, Baillieu is listening to the wrong people. It feels like policy is being driven by mates and political donors who happen to be developers.
Thank goodness for the regions. While the Melbourne market is imploding, there are good prospects for investors beyond the capital city.
<a href="/news">Bendigo</a> continues to be the kind of strong, dependable regional city that more investors should consider. Ditto <a href="/news">Ballarat</a>.
To the west, <a href="/news">Warrnambool </a>and <a href="/news">Mildura </a>offer similar qualities: diverse economies, plenty of infrastructure spending and affordable real estate.
East Gippsland is an under-rated market. Towns like <a href="/news">Sale</a>, <a href="/news">Bairnsdale</a> and <a href="/news">Paynesville </a>have prospects, helped by the region’s links to Bass Strait resources development and to the Gippsland Lakes. BHP Billiton and ExxonMobil are spending $1 billion building gas infrastructure at Longford.
<a href="/news">Geelong </a>continues to present a strong and affordable alternative to Melbourne.
So while Melbourne’s short-term future is not bright, investors will find plenty of attractive options in the regions.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
For more, watch Terry's free webinar <a href="/news">Regions vs capital cities: Where to invest in 2013</a>
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terryryder-YECXbqmri2

Melbourne property market grim in 2013, but there's more to Victoria than Melbourne: Terry Ryder

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The internet’s done some wonderful things for us. Google is now the brain of the universe – any question can be plugged in and answered (albeit with a hefty disclaimer along the lines of ‘react at your own risk’). However, it’s also fragmented the time we take to digest information that, in a pre-internet age, caused many to devour a newspaper cover to cover on a Sunday afternoon and come out feeling at least partially educated.
Now some of our most important markets are analysed by a myriad voices all desperate to be the first to break the news via a Twitter link or a hastily written column under a flashy headline, which –when coupled with the pressure to publish at breakneck speed and grab the top Google ranking – can be both misleading and conflicting in the information provided.
In addition, the frequency at which data and statistics are produced from a range of different providers evokes microscopic media analysis, which can prevent any sensible overview until there’s enough distance to look back and take stock – a situation that doesn’t usually evolve until the end of either the financial or calendar year.
As a case in point, RP Data’s daily house price index is ideal fodder for trigger-happy attention grabbers, and often has me humming that old classic Those Magnificent Men in their Flying Machines with the lyrics “Up, down, flying around, looping the loop and defying the ground”  – Because if ever there were a roller coaster of irresistible headline capturing sensationalism, the fuel for it could be found in the “daily house price index” – for which media releases hit my inbox both weekly and monthly.
In any one week, property prices can be up, down, or flat depending on which way you look – north, south-east or west, and in some cases, which day of the week you choose to concentrate on.
As a case in point, early in the year, Melbourne readers had been informed that the market was in a state of permanent demise, with <a target="_blank" href="/news">“values in Melbourne declining fairly quickly”</a>and no hope of recovery on the horizon for the remainder of 2012.
By March, however, the daily house price index had been ‘formally’ released and relief was only moments away.
In any one week, property prices can be up, down, or flat depending on which way you look – north, south-east or west, and in some cases, which day of the week you choose to concentrate on.
As a case in point, early in the year, Melbourne readers had been informed that the market was in a state of permanent demise, with <a href="/news">“values in Melbourne declining fairly quickly”</a>and no hope of recovery on the horizon for the remainder of 2012.
By March, however, the daily house price index had been ‘formally’ released and relief was only moments away.
June’s data showed Melbourne’s housing market was up a whole 1%!  And after a period during which we nourished ourselves on housing collapse headlines, arrayed with pictures of downward pointing arrows and “more bleak times ahead” news reports, RP Data’s figures provided a welcome ray of sunlight compounded with media reports of housing market recovery!
According to RP Data “After reaching a trough on the 11 June” (note: not the 10th OR the 12th for that matter), “Melbourne dwelling values have now recovered by an impressive 1.7%.” All was not lost, and the media reflected as such.
July’s daily house price index informed that rises were “not as broad-based” as the June results.  However, in Melbourne, excitement prevailed when vendors were informed values had risen a booming 1.4% over the four weeks to July 31.  <a target="_blank" href="https://www.propertyobserver.com.au/news/melbourne-leads-housing-market-up-06-in-july-consolidating-june-gains-with-sydney-also-strong-rp-data-rismark/2012080155807">“Melbourne was the strongest-performing capital city housing market over July</a>.” It really seemed too good to be true.
And then came August. August flagged concerns because values had flat lined with only a 0.2% rise for the month.  Could rises be sustained, asked R P Data’s Tim Lawless – we all waited in anticipation as the “daily” results continued to filter through.
But along came September with a reassuring stomp!  A 1.4% increase in September had Melbourne once again rising from the ashes like a glorious phoenix of hope, especially when Lawless informed that values in our most “livable capital” had recorded a 4% surge since the month of May, “which is the largest recovery so far across all the capital cities.”  Hooray!
Any hope of celebrating through to Christmas was put to bed in October, during which the index recorded a relatively huge whack in the form of a 1.1% drop, which was followed in November by a second 1% drop, and Melburnians were informed that their city was the “only capital market” to suffer a slide on the national barometer.
The headlines once again went to town with their downward-pointing arrows, however the data confirmed what most of us in the housing industry knew already (even if we weren’t going to admit it in front of a Saturday afternoon auction crowd) that house prices – in Melbourne at least –really haven’t moved from woe to go.
Despite minuscule changes in the median data, in reality, they’ve been flat as a pancake for the entire year.  Hopefully it won’t come as a shock to any imagining house prices have been changing, that when analysing data to provide a market appraisal of any said listing, my eyes will filter as far back as June if necessary for a comparable sale – despite the somewhat bumpy daily index road of media sensationalism.
Along with the seemingly relative inadequacy of the daily house price index in assessing forthcoming trends, RP Data also released a long list of suburbs earlier in the year for which it was supposedly cheaper to buy than rent.  The inaccuracy of the report was easy to see through – as I pointed out <a target="_blank" href="https://www.propertyobserver.com.au/residential/room-for-debate-is-it-really-cheaper-to-buy-than-rent-in-some-suburbs/2012110857623">here</a> – however it didn’t stop the media going to town with little time to assess the reality behind the analysis.
Even without any on-the-ground assessment, if it were really cheaper to buy than rent, we wouldn’t have rising numbers sitting on public housing lists or seeking rental assistance (as all welfare agencies will readily attest,) first-home buyer numbers falling, household sizes increasing, and young people “choosing” to stay in the family home well into their 30s.
 
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It’s as hard – if not harder – to find affordable accommodation in locations most need to live (close to work hubs and transport) particularly for single income units - and figures from the latest census data stack up as such, with the largest jump in the number of individuals sharing accommodation.
Furthermore, although housing affordability has show some improvement, rising rental prices and erosion to the interest rates for long-term deposit accounts all but cancel out the benefit.
And while Wayne Swan is once again reaching to pat himself on the back for keeping rates “lower than the last government” –Joe Hockey is doing the media rounds to tell us how awful Australia’s economy is performing, obviously hoping the news will help Julia Gillard fall on her sword when the long-promised stimulus fails to eventuate (at least without serious fiddling of the books.)  All I can say is it’s a good job Kate Middleton is pregnant – or from where would our good news come?!
It’s commonly stated that the RBA takes careful note of RP Data’s daily house price index, and from the following media releases, I’d asses the RBA is just as confused as the rest of us as to whether housing prices are improving or not.
Following this year’s first interest rate cut in May, the media release from the RBA read:
“Housing prices have shown some signs of stabilising recently,” which was a verbatim repeat of April’s statement.
In June it was noted:
“Housing prices had shown some signs of stabilising around the turn of the year, but have recently declined again.”
In July it was noted:
“The housing market remains subdued.”
But by August:
“Dwelling prices have firmed a little...”
The same ‘firming’ statement was repeated in September’s media however by October dwelling prices were once again
“Subdued.”
November seemed more positive, as the RPA reported:
“the housing market has strengthened”
And most recently following December’s cut of 0.25 percentage points governor Glenn Stevens noted that:
“there are indications of a prospective improvement in dwelling investment.”
However, throwing forward-thinking terms such as “prospective improvement” and other wishy-washy statements such as those noted above are no reassurance from the experts – with the best and most reliable data at hand – that the market is either “subdued” or “firming.”
In fact the RBA seem no better informed than the rest of us on such matters – jumping on each tiny notion of movement, which may (or may not) hint of a forthcoming ‘trend.’
The pick-up in housing as we approach the end of the year is – in part – a seasonal expectation.  As December nears its end, there is always a last-minute rush of buyers as they try to tie up deals before the real estate world takes its annual Christmas breather.
Post-Christmas most are recovering from too much champagne, turkey and weighty credit card debt to pay the property market much attention, with one exception – investors.
As the latest ABS data attests, the erosion of interest rates on long-term credit accounts is clearly luring this demographic back into what they probably assess to be their best long-term bet among a range of low-performing sectors.
Speculation that growth in the economy will fall to 2.5% during the year ahead – well below the usual trend of 3-3.25% – is why many are assuming a further 25- to 50-basis-point drop in the cash rate is needed if we’re to stimulate the ‘non-mining sectors’ of our economy.
Should this occur, and the banks pay it forward, it will take lending rates low enough to provide a greater incentive for potential property shoppers to make their move.
However, consumer sentiment plays a far stronger hand in dictating future movements in our economy – and this is one area of influence even the best crystal ball readers fail to either predict or dictate.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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Melbourne house prices have been flat as a pancake all year: Catherine Cashmore

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Regional Victorian prices have been much more stable during the recent downturn than the Melbourne capital city, according to the Real Estate Institute of Victoria.
Geelong's median is 1.8% below peak; in Ballarat, it is 2.1% below; and in Bendigo, prices are only slightly (0.1%) below peak.
"Melbourne's inner city is where buyers will find the best bargains in 2013," says REIV chief Enzo Raimondo while suggesting 2012 was ending with the market in a better position than it was a year ago.
“Affordability is at reasonable levels with prices remaining below their peak and interest rates at historical lows," he said.
The inner city median is 10.4% below its peak compared to 9.3% in the middle suburbs and 7.9% in the outer suburbs.
“If consumer confidence continues to slowly improve it should encourage more buyers into the market and that will drive capital growth. As supply and demand is in much greater balance, any capital growth in 2013 will only be moderate.
“First home buyers have clearly responded to lower prices and interest rates with around 18 per cent more than in 2011. With stamp duty cuts increasing to 30 per cent on 1 January, conditions will continue to improve for them,” Mr Raimondo concluded.
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Victorian regional prices hold up better than Melbourne's median

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Located in Victoria's high country, Mount Beauty – with a median house price of $155,000 – is Victoria’s slowest-selling suburbs, with a whopping average of 232 days on the market.
Terang – 212 kilometers south west of Melbourne – is second on the list, with an average of 218 days on the market and a median house price of $170,000.
And situated on the banks of Lake Hume in north-western Victoria, Tallangatta comes in a close third place, with an average of 217 days on the market and a median house price of $180,000.
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="106" valign="top">
Suburb
</td>
<td width="106" valign="top">
Postcode
</td>
<td width="106" valign="top">
Median house price
</td>
<td width="106" valign="top">
Average time on market (days)
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Mount Beauty</a>
</td>
<td width="106" valign="top">
3699
</td>
<td width="106" valign="top">
$155,000
</td>
<td width="106" valign="top">
232
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Terang</a>
</td>
<td width="106" valign="top">
3264
</td>
<td width="106" valign="top">
$170,000
</td>
<td width="106" valign="top">
218
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Tallangatta</a>
</td>
<td width="106" valign="top">
3700
</td>
<td width="106" valign="top">
$180,000
</td>
<td width="106" valign="top">
217
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Eagle Point</a>
</td>
<td width="106" valign="top">
3878
</td>
<td width="106" valign="top">
$281,500
</td>
<td width="106" valign="top">
190
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Koondrook</a>
</td>
<td width="106" valign="top">
3580
</td>
<td width="106" valign="top">
$192,500
</td>
<td width="106" valign="top">
186
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Mortlake</a>
</td>
<td width="106" valign="top">
3272
</td>
<td width="106" valign="top">
$137,500
</td>
<td width="106" valign="top">
185
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Murtoa</a>
</td>
<td width="106" valign="top">
3390
</td>
<td width="106" valign="top">
$155,000
</td>
<td width="106" valign="top">
182
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Tawonga South</a>
</td>
<td width="106" valign="top">
3698
</td>
<td width="106" valign="top">
$255,000
</td>
<td width="106" valign="top">
182
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Elmore</a>
</td>
<td width="106" valign="top">
3558
</td>
<td width="106" valign="top">
$155,000
</td>
<td width="106" valign="top">
180
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Narre Warren North</a>
</td>
<td width="106" valign="top">
3804
</td>
<td width="106" valign="top">
$735,000
</td>
<td width="106" valign="top">
175
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Port Albert</a>
</td>
<td width="106" valign="top">
3971
</td>
<td width="106" valign="top">
$215,000
</td>
<td width="106" valign="top">
175
</td>
</tr>
<tr>
<td width="106" valign="top">
<a target="_blank" href="/news">Yarram</a>
</td>
<td width="106" valign="top">
3971
</td>
<td width="106" valign="top">
$205,000
</td>
<td width="106" valign="top">
175
</td>
</tr>
</tbody></table>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
A property located at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-mount+beauty-108175206">18 Beauty Avenue, Mount Beauty</a> (pictured below), was first listed in October 2011 with an asking price of $193,000.
<img height="353" width="470" src="/images/stories/2012/12/beautyave.jpg" alt="beautyave">
It is currently still on the market – 420 days later – but has dropped its asking price by $18,000 to $175,000.
The three-bedroom dwelling is on 635 square metres.
Another property in Mount Beauty has been on the market for 645 days.
Located at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-mount+beauty-107018455">14 Fairway Avenue</a>, the two-bedroom house was first listed in February 2011 for $149,000.
<img height="353" width="470" src="/images/stories/2012/12/fairwayave.jpg" alt="fairwayave">
It is currently listed at $139,000.
A three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-mount+beauty-106824290">24 Freeburgh Avenue</a> has been listed for 817 days at $195,000 – there has been no decrease in the asking price over this time.
Although Mount Beauty is the slowest suburb in Victoria, it isn’t necessarily oversupplied, with around 40 houses currently on the market.
Kingsbury, a suburb 12 kilometres north-east of Melbourne CBD – and with a median house price of $435,000 – is Victoria’s fastest-selling suburb, with an average of 30 days on the market.
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Mounty Beauty Victoria's slowest-selling suburb

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There's a $2.25 million St Kilda offering where the owner can watch the Luna Park smile all year round and eat downstairs at Phamish.
It's a modern two-bedroom, three-bathroom penthouse facing the iconic St Kilda landmark and the Palais. Its for sale through <a target="_blank" href="https://www.youtube.com/watch?v=EXmeu5IK0-M&amp;feature=youtu.be">Josh Stirling at Hodges St Kilda</a>.
<img src="/images/stories/2012/12/luna2.jpg">
There's a fully-integrated Smeg kitchen plus contemporary open-plan lounge/dining areas that flow out to a winter garden and adjoining balcony that takes in the sea breezes.
Its private rooftop area comes with built-in barbecue, storage and a full guest bathroom.
The <a target="_blank" href="/news">St Kilda</a> penthouse was last sold for $2.2 million in mid-2011 by the entrepreneur Danny Vorhauer who had paid $1,915,000 off the plan in 2009.
It was bought by investor Kel MacCulloch, who had purchased the adjoining apartment for $1.6 million off the plan in 2009 from the developers, George Saade's St Kilda Esplanade Investments Pty Ltd.
Kel MacCulloch, who operates IT firm O2 Networks, rented his initial apartment when he moved to Clarendon Towers at Southbank, according to 2010 newspaper reports.
It's in the SJB Architects-designed building, which when unveiled in 2008 and was dubbed the "Legs" building, given its green, fishnet-patterned glass facade.
The 12-apartment building won the 2009 South-East Design award for outstanding medium-density housing development and was entered for <a target="_blank" href="https://www.architecture.com.au/awards_search?option=showaward&amp;entryno=2009032144">the Australian Institute of Architects multiple housing award for Victoria</a>.
The design includes rectangular, terrace-style apartments and curved, irregular residences.
"We felt that the building should reflect the vibrant character of St Kilda – the interest in art and form-making," Bialek said at the time.
"The graphic (on the building) is a tongue-in-cheek recognition of the fish nets of the fishermen and of the hookers' stockings."
The apartment has also been recently available at $1,000 a week rental.
An investor paid $2.6 million last month for the premises occupied by the <a target="_blank" href="https://www.propertyobserver.com.au/retail/investor-snaps-up-phamish-restaurant-premises-on-st-kilda-esplanade-for-%2426-million/2012112057963">Phamish cafe </a>reflecting a yield of 6.39%, according to Savills agents Nick Peden and Clinton Baxter.
It was on December 13, 1912, when Mr Moon opened his giant mouth at the fun park now owned by businessman Lindsay Fox.
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St Kilda penthouse with Luna Park views fishing for new $2.25 million owner

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There will be no swift recovery in the outer-Melbourne residential new housing market, with a confluence of factors contributing to the unprecedented high rate of lots being returned to residential developers, according to Charter Keck Cramer.
The most recent update of the National Land Survey – a project undertaken by consultants Charter Keck Cramer (CKC) in conjunction with Research4, which tracks the performance of capital city residential land markets – <a href="https://www.propertyobserver.com.au/land/one-in-three-melbourne-residential-lots-being-returned-to-developers-by-building-firms-report/2012112958179">found that 30% of Melbourne greenfield</a> land had been returned by building companies to developers in the September quarter.
This compared with an already high average cancellation rate of 23% over the past 12 months and a cancellation rate of only 4% during the property boom from June 2009 to December 2010.
CKC director Robert Papaleo tells Property Observer there may have been a degree of artificiality in the September quarter cancellation rate, but there is likely to be a “long, slow recovery” for the Melbourne land market, with the current downturn exaggerated by the swift nature of the upswing over the 2009-10 period as prices rose by an “unsustainable” 15% to 20% ever quarter.
Papaleo says the jump in cancellations recorded in the September quarter to one in three may be partly due to the fact that listed developers – the main players in the Melbourne land market – have used incentives and other selling strategies to lift their contracts on hand and present healthier-looking numbers in their financial results.
Most developers reported annual financial results to the end of June.
Papaleo says some developers relaxed their selling terms to secure sales, including requiring in some cases that buyers pay only a $500 holding deposit, rather than the traditional 10% deposit.
“These are the lots that are being returned – they are also the smallest lots and the lowest price products,” says Papaleo.
He says such selling practices have been common in the south east Queensland and Brisbane market for at least two years, but are now being used to some degree in Melbourne.


<hr class="system-pagebreak">
In addition, the $13,000 state government handout for those buying or building a new home ended on June 30, which also may have contributed to a drop in demand.
The December quarter update to the land survey – out in early 2013 – will provide further evidence if the spike in the cancellation rate was exacerbated by these factors or is a longer-term trend.
What does remain though is a current a peak residential lot “overhang” of around 5,000 lots – land held mainly by listed developers – with is likely put further pressure on pricing.
“We are in for a lot of pain, and there is no clear sign of a turnaround either," says Papaleo.
Papaleo says the current incentives being offered by residential developers – <a href="https://www.propertyobserver.com.au/land/from-%2410000-to-%2450000-residential-developers-tempt-buyers-with-incentives/2012112358053" target="_blank">ranging from $10,000 to $50,000</a> – are being dissolved into the pricing, causing a “re-benchmarking to remove the distortion”.
“This will result in the need for a reduction in the price.” he says.
The market has also not been helped by a rise in supply following plans announced in June to extend Melbourne’s urban growth boundary outwards over the next 20 years to incorporate six new fringe suburbs and provide new homes for up to 100,000 people.
There are currently 24 precinct structure plans (PSPs) in various stages of planning, according to Melbourne’s Growth Area Authority, with each PSP catering for master-planned residential communities of between 10,000 to 30,000 people.
“Supply has been forced up at the worst possible time,” says Papaleo.
According to Papaleo, a pick-up in overseas migration will have flow-on effects for the Melbourne property market and help spur a recovery in the fringe residential new housing market.
“Net overseas migration has come off the bottom of its cycle, but there is usually a 12 to 18 month lag before it feeds into the housing market,” he says.
A pick-up in overseas migration could result in a rise in demand for fringe housing from these new arrivals but could also see them acquiring established housing and those displaced residents choosing, in some cases, to buy a lifestyle property on the outskirts of the city.
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