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

Joel Robinson

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

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

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

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

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

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

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

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

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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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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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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Melbourne residential property market on the mend? Property Observer navigates the muddling median maze

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Former St Kilda football player turned property developer Max Hudghton and his wife, Anya, have listed their fully renovated <a target="_blank" href="https://www.kayburton.com.au/property/33-gordon-street-hampton">Hampton home</a> with $4 million-plus hopes.
Located on Gordan Street, the four-bedroom, two-bathroom home sits on 1,902 square metres of land.
The house boasts travertine flooring, and the kitchen has marble bench tops and miele appliances.
A floodlit mod grass tennis court is on the block.
The property has been listed by Ian Jackson from Kay and Burton Brighton.
Hudghton's construction company built the Brighton townhouse that soccer champion Harry Kewell leased as his Melbourne base.
The Nicholas Day-designed property was built by Maxton Constructions for a development syndicate headed by the former St Kilda champion Fraser Gehrig.
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Former St Kilda player Max Hudghton lists home for $4 million plus

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 The Melbourne property market had everything thrown at it at 2012 with low clearance rates, international reports that stated it is overvalued and a barrage of negative reports in the media suggesting the market was going to experience a US-style crash.
But the latest figures from the REIV show not only did the property market hold its ground, but it actually began to pick itself up from the canvas and showed significant growth in the last quarter of the year.
<img alt="armstrongjan30" height="91" width="470" src="/images/stories/2013/01/armstrongjan30.png">
While the 2012 year started on shaking ground as property values continued to slide, the December quarter showed a massive 7.8% jump in median value for houses.
This growth is in line with what I was seeing in the market as reported in my September Property Observer article<a target="_blank" href="https://www.propertyobserver.com.au/residential/a-new-breed-of-upgrading-home-investors-injects-buoyancy-into-the-subdued-suburban-property-market-mark-armstrong/2012091856658"> A new breed of upgrading ‘home investors’ injects buoyancy into the subdued suburban property market.</a>
The research showed strong demand coming from home buyers who were looking to upgrade the family home and take advantage of a soft property market.
This jump in last quarter median values turned the corner for the housing market and resulted in a 4.7% growth for the year. Melbourne apartments also performed well. with 4.2% growth in the last quarter pushing it into positive territory by years end.
The wash-up is the market has proved to be very resilient and as we look forward into the 2013 there are some clear signs the property market will continue this trend and some sectors may even return to the heady heights of in explosive growth seen in 2009. The catalyst will be a growth in confidence driven by interest rates once again.
While history is no guarantee of what will happen in the future it does provide some useful insights. In September 2008 the cash rate was at 7%, seven months later it had plummeted to 3% and property investors exploded back onto the scene forcing the property market in Melbourne to surge by more than 20% in 2009.
This time around the RBA has been a bit more tentative with the trigger. It has been careful not to cause a frenzy and has slowly lowered rates to entice investment back.
The last upward interest rate movement was way back in November 2010, and the RBA has met to discuss the economies outlook 23 times since. On 17 of those occasions it has decided to leave the rates on hold. In the remaining meetings the board have voted to lower rates.  Rates have now fallen by 1.75% at sit at the 2009 level of 3%.
<img alt="armstrongjan301" height="199" width="470" src="/images/stories/2013/01/armstrongjan301.png">
This slow decline in rates has meant property investors have sat on the sidelines and watched. This will not last forever.
I don’t think the return of property investors will be as bullish as we experienced in 2009, and this is a good thing. Any market that experiences euphoric highs is destined to fall on the other side. I predict the market will learn from its recent experience and move into a more sustainable growth pattern.
Interest rates are not the only factor weighing on investors' minds. Their confidence is being enhanced by the fact many Australians have money burning a hole in their pockets. According to the RBA household savings rates are at the highest levels since the mid ’80s. They have been trending up since the mid-2000s and now hover around 10% of disposable income.
In addition, many borrowers have been making substantial excess principal repayments in recent years, and this will increase their equity and cashflow positions.
 
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
 
 
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