Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

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

Dalcott targets owner-occupiers with South Brisbane debut Marrone

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

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

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

ODUS releases $18 million penthouse crowning La Mer Main Beach

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

<html><body>
Gold Logie award-winning television personality and comedian Denise Drysdale has for more than three decades lived 100 kilometres from Melbourne on an idyllic farm at Neerim North in Gippsland.
Having previously resided around<a href="/news"> Port Melbourne</a>, <a href="/news">Richmond </a>and <a href="/news">East Brighton</a>, Ding-Dong, as she is affectionately known, escaped after television and stage work to the country to experience peace and quiet amid beautiful scenery.
Title Tattle understands Drysdale is seeking a sea-change, having only recently resigned from Channel Ten's The Circle.
Perched high on a hillside, the <a href="/news">Neerim North</a> property is a four-hectare retreat with a grand bluestone residence built  from the local quarry.
It is the first time it has been offered for sale.
The four-bedroom, two-bathroom architecturally designed residence comes with a sunken lounge with open fireplace.
There's a spa room with floor-to-ceiling windows taking in the unspoilt panoramas.
The property comes with a separate bluestone cottage with timber bar and fireplace, which Drysdale had as a billiards room.
The property comes with dam and shelter for livestock.
Evan Broadbent at <a href="https://www.domain.com.au/Property/For-Sale/House/VIC/Neerim-North/?adid=2010215759" target="_blank">Harcourts Warragul</a> has it listed for February 23 auction.
<a href="https://harcourts.realestateinmotion.com.au/property/vhw3288/35-olsson-road-neerim-north-3832-vic" target="_blank">There's something of a video produced for the marketing</a>.
</body></html>

jchancellor-FAypfDUnLy

Comedian Denise Drysdale lists Neerim North, Gippsland, acreage

<html><body>
The auction of a prized Portsea bathing box yielded $440,000 at its RT Edgar auction today.
<a href="/news">The Portsea bathing box had been listed with conservative $350,000 hopes.</a>
There were two bidders at the <a href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2251083&amp;agentID=948&amp;realestate=36_Shelley_Beach_PORTSEA_VIC_3944&amp;showGoBack=true" target="_blank">twilight onsite auction</a> conducted by RT Edgar Real Estate Portsea agents Warwick Anderson and Ilze Moran.
In January 2011 a Portsea box set a record $585,000 when five bidders fought for the property at its RT Edgar auction. Another fetched $455,000 in January 2010. There had been a record $362,500 sale in January 2008.
While today's listing is among the prized Shelley Beach boxes, it is set well back from the water and a bit far up the beach too, so more of interest to just the immediate surrounding properties than the ones sold in recent years.
A <a href="/news">Rye </a>bathing box fetched $400,000 on Saturday in what the market has quickly viewed as an out-of- line sale for the Tyrone foreshore.
RT Edgar also conducted the auction, which attracted 200 plus attendees despite its low-key marketing.
Another Rye bathing box was passed in at weekend auction at $170,000 – around market expectations – through through Emil Foller from Bennison MacKinnon Sorrento.
Last summer <a href="https://www.propertyobserver.com.au/victoria/rye-beach-bathing-box-sells-for-%24275000/2012112558073" target="_blank">Title Tattle recalls another Rye beach bathing box without power or water sold for a record $275,000</a>.
</body></html>

Portsea bathing box fetches $440,000 at RT Edgar auction

<html><body>
There are 33 suburbs in Melbourne – many of them on the outskirts – where first-home buyers can purchase a three-bedroom apartment and pay equal or less than the average estimated first-home buyer mortgage repayment in Victoria of $414 per week.
The suburbs can be found in an interactive heat map showing weekly mortgage repayment price bands across Melbourne suburbs compiled by the Real Estate Institute of Victoria (REIV) as part of its new <a href="https://www.reiv.com.au/Property-Research/First-Home-Buyer-Guide" target="_blank">first-home buyer guide.</a>
<a href="https://www.reiv.com.au/Property-Research/First-Home-Buyer-Guide/3-bedroom-units" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/01/3bedmap.jpg"></a>
The $414 per week median mortgage repayment is based on the average first-home buyer loan size of approximately $286,600, a standard variable interest rate of 6.4%, receipt of the $7,000 first-home owners' grant, a loan term of 30 years, a 10% deposit, and benchmark lenders mortgage insurance (LMI) and conveyance fees.
The list is dominated by suburbs further out of town, but does include the middle Melbourne suburb of St Albans, which has a median three-bedroom unit price of $270,000 and average weekly mortgage repayments of $360 per week.
Also on the list are less fashionable, but well-located Sunshine and Sunshine North, where 'Kath &amp; Kim' obtained numerous TAFE qualifications and where Tracey, daughter of the Kerrigans in The Castle obtained her hairdressing diploma.
The full list starting from the cheapest is:
<ol>
<li>
<a href="/news">Melton </a>- $277 per week, median price of $210,000</li>
<li>
<a href="/news">Werribee </a>- $312 per week, median price of $235,000</li>
<li>
<a href="/news">Cranbourne </a>- $324 per week, median price of $244,000</li>
<li>
<a href="/news">Hoppers Crossing</a> - $332 per week, median price of $250,000</li>
<li>
<a href="/news">Pakenham </a>- $332 per week, median price of $250,000</li>
<li>
<a href="/news">Tarneit </a>- $346 per week, median price of $260,000</li>
<li>
<a href="/news">Frankston </a>- $346 per week, median price of $260,000</li>
<li>
<a href="/news">Sunshine </a>- $350 per week, median price of $263,000</li>
<li>
<a href="/news">Dandenong </a>- $353 per week, median price of $265,000</li>
<li>
<a href="/news">St Albans</a> - $360 per week, median price of $270,000</li>
<li>
<a href="/news">Noble Park</a> - $366 per week, median price of $275,000</li>
<li>
<a href="/news">Tullamarine </a>- $373 per week, median price of $280,000</li>
<li>
<a href="/news">Narre Warren</a> - $373 per week, median price of $280,000</li>
<li>
<a href="/news">Sunshine North</a> - $377 per week, median price of $283,000</li>
<li>
<a href="/news">Langwarrin</a>- $380 per week, median price of $285,000</li>
<li>
<a href="/news">Hadfield</a> - $380 per week, median price of $285,000</li>
<li>
<a href="/news">Doveton </a>- $382 per week, median price of $286,250</li>
<li>
<a href="/news">Somerville </a>- $382 per week, median price of $286,500</li>
<li>
<a href="/news">Dandenong North</a> - $389 per week, median price of $291,700</li>
<li>
<a href="/news">Mill Park</a> - $392 per week, median price of $293,750</li>
<li>
<a href="/news">Broadmeadows </a>- $392 per week, median price of $293,750</li>
<li>
<a href="/news">Epping </a>- $393 per week, median price of $294,500</li>
<li>
<a href="/news">Thomastown </a>- $399 per week, median price of $299,000</li>
<li>
<a href="/news">Seaford </a>- $400 per week, median price of $299,500</li>
<li>
<a href="/news">Lalor </a>- $401 per week, median of $300,000</li>
<li>
<a href="/news">Deer Park</a> - $401 per week, median of $300,000</li>
<li>
<a href="/news">Hallam </a>- $403 per week, median price of $302,000</li>
<li>
<a href="/news">Springvale </a>- $406 per week, median price of $304,000</li>
<li>
<a href="/news">Craigieburn </a>- $408 per week, median price of $305,000</li>
<li>
<a href="/news">Mernda </a>- $408 per week, median price of $305,000</li>
<li>
<a href="/news">South Morang</a>- $412 per week, median price of $308,000</li>
<li>
<a href="/news">Sydenham</a> - $412 per week, median price of $308,500</li>
<li>
<a href="/news">Berwick </a>- $414 per week, median price of $310,000</li>
</ol>
Source: REIV first-home buyer guide
</body></html>

lschlesinger-FZcF9M3vE6

From Melton to Berwick: The 33 Melbourne suburbs with affordable three-bedroom apartments 

<html><body>
Melbourne features very little in my current thinking about property hotspots in Victoria. Strong regional cities dominate the mindset. 
Right now Melbourne is a good place to be near but not in. The strongest places in Victoria are all cities in their own right but close enough to the capital to be commuter cities. 
<a target="_blank" href="/news">Bendigo </a>and <a target="_blank" href="/news">Ballarat </a>both stand out, not only within the state of Victoria, but on a national basis. They rank nationally as boom towns with strong future prospects. 
The B cities have a lot in common: gold rush histories, strong local economies with ample diversity, proactive councils, plenty of infrastructure development, strong business communities, prosperous tourism industries, lots of real estate investment and generous supplies of affordable dwellings. 
Both have major redevelopments of their hospitals in prospect. Both have significant education sectors, and both have manufacturing businesses that are defying the national trend of downturn in that sector. New roads are being built and airports are being upgraded. National retailers are expanding in both places. There’s even impact from the resources sector, with gold mining undergoing a revival with the benefit of modern technology. 
Both have significant numbers of residents who commute to work in Melbourne. Both will be enhanced by the $5 billion Regional Rail Link, which will shorten the gap (in travelling times) between them and the state capital. 
They have the strong appeal for investors that Melbourne currently lacks. I can see plenty of growth drivers in Ballarat and Bendigo, whereas few are apparent in oversupplied Melbourne. 
Many things happen in these regional cities than you might expect to find in the big capital cities. Ballarat, for example, is developing its IT sector to a scale of national significance through the University of Ballarat, with strong involvement from IBM, which has its primary regional delivery centre in Australia in Ballarat. The new trains needed for Melbourne’s rail system are being built in Ballarat. 
Bendigo, which has the only provincial stock exchange in Australia, is the headquarters for Bendigo Bank, which has retail branches around Australia. Bendigo-based Thales builds vehicles for the Australian Defence Force, while another local business Australian Defence Apparel supplies combat uniforms and other equipment. 
Big property developments are happening in both places. A new suburb covering 750 hectares, to be known as Lucas, is happening in Ballarat, as well as the evolving Ballarat West Growth Area. In Bendigo a major master-planned development called Evergreen Waters is under way. 
If I can isolate one “big kicker” item from among the many drivers of future growth in the B cities, it's the $5 billion Regional Rail Link, which is now well under construction. 
It will provide a direct link for passengers travelling from Ballarat, Bendigo and Geelong into Southern Cross Station in Melbourne. This will avoid the current bottleneck with Melbourne commuter trains.
The project is expected to deliver time savings, increase tourism to the regional cities and make living there more attractive. Trains from Geelong, Ballarat and Bendigo will no longer stop at North Melbourne station once the link is completed in 2016. 
Regional Rail Link Authority chief operating officer Allen Garner says the project is like building a new four-lane freeway into Melbourne.
“From a sustainability point of view it’s much better than building freeways but it does enable people to choose lifestyles and move more out of the city,” he says. “I think there are great growth opportunities for regional centres.”
With all that in the background, the bonus is that you can readily buy houses in the $200,000s in both the B cities.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
</body></html>

terryryder-YECXbqmri2

Ballarat and Bendigo provide golden opportunities for property investors: Terry Ryder

<html><body>
A Portsea bathing box has been listed with $350,000 hopes.
Typically passed down from one generation to the next, it's among the prized Shelley Beach boxes, albeit set well back from the water and a bit far up, so probably more of interest to just the immediate surrounding properties than the ones sold in recent years.
<img height="307" width="470" src="/images/stories/2013/01/portsea.jpg" alt="portsea">
This one has been listed by RT Edgar Real Estate Portsea agents Warwick Anderson and Ilze Moran for <a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2251083&amp;agentID=948&amp;realestate=36_Shelley_Beach_PORTSEA_VIC_3944&amp;showGoBack=true">auction this Sunday, January 20</a>.
In January 2011 a Portsea box set a record $585,000 when five bidders fought for the property at RT Edgar auction. Another fetched $455,000 in January 2010. There had been a record $362,500 sale in January 2008.</body></html>

Portsea bathing box listed 

<html><body>
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.
</body></html>

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

<html><body>
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.
</body></html>

Geelong's 1856 Corio Villa sells to its fourth owner

<html><body>
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.
</body></html>

Centuria sells 601 Bourke Street, Melbourne

<html><body>
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.
</body></html>

marmstrong-sd3emVLPPb

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

<html><body>
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>
</body></html>

Latest Victoria Property News

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Victoria Property News

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News