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

Joel Robinson

Conquest partners with Woolworths to deliver mixed-use Waterloo project

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

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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A Docklands hair salon opposite Etihad Stadium has been listed for auction.
The property is leased to Aveda Hair salons, which runs the shop as White Lotus Hair and Beauty.
It currently earns $25,000 per annum in rental income plus GST and outgoings. The lease is a newly signed five-year lease with options to 2027.
It sits below a series of apartments called Site One complex at 757 Bourke Street.
The <a href="/news">Docklands</a> property is being sold by Domain Commercial Real Estate agent Dean Fornaro in conjunction with Burgess Rawson agent Adam Thomas.
The property is marketed as being ideal for self-managed super fund operators.
“We’ve had a lot of inquiries from self-managed super fund buyers,” Thomas says.
“This one is definitely an affordable entry level property.”
He is looking to sell the property for around $300,000 to $310,000. If it sold for $310,000 the gross yield would be 8.06%.
It goes to auction on October 31 at Crown Casino.
For those with a bit more to spend, Thomas is also marketing a Docklands restaurant with an asking price of around $850,000 and a rent of $68,959 per annum. 
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awalsh-7Ub9EypybQ

Docklands hair salon offers small investors and SMSF potential 8% return

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Brownlow medalist Jobe Watson's Melbourne investment property play has been sold.
His three-bedroom <a href="/news">Albert Park</a> investment cottage had lingered unsold on the market since its early August listing, then passed in on a vendor bid of $970,000 at its September 1 auction.
The Richardson Street was purchased for $930,000 in December 2007, having previously traded at $880,000 in mid-2007.
Late September inspectees were told there was a flexible $980,000 asking price on the attractive freestanding double-fronted Edwardian brick residence.
Its most recent price indication was $959,000, but Property Observer gathers it might have sold at around $905,000.
No sale price has been declared by the <a href="https://www.realestateview.com.au/Real-Estate/richardson-street-albert-park/Property-Details-sold-residential-4276135">Cayzer Real Estate Albert Park listing agency, </a>which secured the sale on October 18.
Watson lives elsewhere in Albert Park, where he paid $780,000 in 2009.
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jchancellor-FAypfDUnLy

Jobe Watson sells Albert Park investment cottage 

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The former TV personality Steve Vizard has sold his St Kilda mansion, Clendore.
The three-storey Italianate Victorian with 17 rooms and a rooftop pool was sold on October 5, although the website marketing has continued.
It's been bought by former champion skateboarder and streetwear fashion entrepreneur Peter Hill, who directs Globe International.
Vizard and wife Sarah renovated the seven-bedroom, 10-bathroom home after paying $3.96 million in 2004.
The sale ends a year-long campaign to sell the Fitzroy Street property, <a href="https://www.propertyobserver.com.au/victoria/melbourne-businessman-steve-vizard-sticks-with-%248-million-plus-hopes-for-st-kilda-mansion-clendore/2012070855470">which was listed with $8 million-plus hopes</a>. No sale price has yet emerged.
There is a rooftop Paul Bangay-designed garden above the grand colonnaded building, which sits on a 782-square-metre Fitzroy Street block.
The mansion has a 15-person Schindler commercial double-door lift that connects all four floors.
One of the original three adjoining terraces was the home of Sir Graham Berry, the distinguished radical politician, for several years.
The Vizard family sold their Orrong Road, Toorak, mansion for about $17.75 million in 2007 to The Good Guys boss Andrew Muir.
It was listed through Gross Waddell Melbourne commercial agents Andrew Waddell and Jonathan McCormack, given its potential as offices, hotel/leisure or medical consulting rooms. Jock Langley and Tim Derham of Abercromby’s are the conjunctional agents.
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Skateboarder Peter Hill snares Steve Vizard's Fitzroy Street St Kilda mansion

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Corio in Geelong has the strongest yields for units for all regional postcodes in Victoria, according to RP Data figures.
With a median price of $155,000 and median rental figure of $240 per week, RP Data suggests the suburb has a yield of 8.05% for units.
Looking at what’s currently available it seems the yields aren’t quite as high as RP Data figures suggest though.
<a href="https://www.realestate.com.au/property-unit-vic-corio-110599481">Unit 7 at 51-53 Merlin Crescent</a> is listed for sale at $165,000-$175,000. The last asking rent for the property was $220 per week in February this year, giving a yield of 6.54% if it sells for the upper bracket.
And <a href="https://www.realestate.com.au/property-unit-vic-corio-109715241">unit 1 at 82 Hendy Street</a> has been listed for sale at $189,000 to $199,000. Its last asking rent was $240 per week in July this year giving a yield of 6.27% if it sells for the upper bracket.
The suburb is followed by Ballarat Central, with yields of 6.88%, according to RP Data. It has a median price of $170,000 for units and a median rent of $225 per week.
Third is Mildura in north western Victoria, with unit yields of 6.66%. The median unit price is $148,000 and the median rent is $190 per week.
The top 15 rural postcodes with the highest yields for units are as follows.
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<td width="116" height="20">Suburb</td>
<td width="64">Postcode</td>
<td width="88">Median Price</td>
<td width="86">Median Rent</td>
<td width="64">Yield</td>
</tr>
<tr height="20">
<td height="20">Corio</td>
<td align="right">3214</td>
<td align="right">155000</td>
<td align="right">240</td>
<td align="right">8.05</td>
</tr>
<tr height="20">
<td height="20">Ballarat Central</td>
<td align="right">3350</td>
<td align="right">170000</td>
<td align="right">225</td>
<td align="right">6.88</td>
</tr>
<tr height="20">
<td height="20">Mildura</td>
<td align="right">3500</td>
<td align="right">148000</td>
<td align="right">190</td>
<td align="right">6.66</td>
</tr>
<tr height="20">
<td height="20">Cobram</td>
<td align="right">3664</td>
<td align="right">155000</td>
<td align="right">188</td>
<td align="right">6.31</td>
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<td height="20">East Geelong</td>
<td align="right">3219</td>
<td align="right">232000</td>
<td align="right">280</td>
<td align="right">6.28</td>
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<td height="20">Tatura</td>
<td align="right">3616</td>
<td align="right">167000</td>
<td align="right">195</td>
<td align="right">6.07</td>
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<td height="20">Melton</td>
<td align="right">3337</td>
<td align="right">224000</td>
<td align="right">260</td>
<td align="right">6.05</td>
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<td height="20">Norlane</td>
<td align="right">3214</td>
<td align="right">212000</td>
<td align="right">245</td>
<td align="right">6.01</td>
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<td height="20">Eaglehawk</td>
<td align="right">3556</td>
<td align="right">218000</td>
<td align="right">250</td>
<td align="right">5.98</td>
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<td height="20">Bendigo</td>
<td align="right">3550</td>
<td align="right">210000</td>
<td align="right">240</td>
<td align="right">5.94</td>
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<td height="20">Kangaroo Flat</td>
<td align="right">3555</td>
<td align="right">207000</td>
<td align="right">235</td>
<td align="right">5.91</td>
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<td height="20">Morwell</td>
<td align="right">3840</td>
<td align="right">141000</td>
<td align="right">160</td>
<td align="right">5.91</td>
</tr>
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<td height="20">Yarrawonga</td>
<td align="right">3730</td>
<td align="right">210000</td>
<td align="right">235</td>
<td align="right">5.82</td>
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<td height="20">Mooroopna</td>
<td align="right">3616</td>
<td align="right">168000</td>
<td align="right">188</td>
<td align="right">5.8</td>
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Corio tops list of 15 rural Victorian localities with highest unit yields

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All three school campuses of the former Mowbray College around Melbourne have sold for educational use.
Werribee-based Heathdale Christian College bought the Patterson Campus in Melton for an undisclosed sum. The site will reopen in 2014 as a kinder to year 4 school.
Intaj Khan, chief executive of The Western Institute of Technology, bought the Caroline Springs town centre campus for $6.7 million. His company will offer courses in building and construction at the site from November.
And Grace Children's Services bought the Brookside campus in Caroline Springs for $3.3 million. The company plans to run an preschool there and lease the remaining buildings to other schools.
The sales come four months after Mowbray College went into liquidation, after it was revealed the school had $18 million of outstanding debts.
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All three Mowbray College campuses sell to education institutions

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The former television news presenter-turned-spin doctor Simone Semmens has yet to find a $9 million buyer for the riverfront building block within her historic 1890s Toorak riverfront estate, Edzell.
Semmens listed the 1,800-square-metre vacant block through RT Edgar agent David Colbran with $9 million hopes mid-year.
But she has recently secured Heritage Victoria permission for the subdivision of the historic St George Road estate into two allotments, with the government department noting its "recognition of the fact that the current proprietor’s specific financial circumstances were a factor in the determination of the permit as allowed for under section 73(1)(b) of the Heritage Act 1995."
The Semmens Edzell application followed the former news presenter-turned-spin doctor <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/victoria/former-tv-presenter-simone-semmens-seeks-to-offload-the-riverfront-block-at-her-grand-%2411-million-edzell-toorak-acquisition/2012062655278" target="_blank">paying $11 million for the house </a>built for the former lord mayor James Stewart shortly before his year in office.
<a href="https://www.propertyobserver.com.au/images/stories/2012/06/edzell3.jpg" title="Click to enlarge" rel="shadowbox"><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/2012/06/edzell3thumb.jpg"></a>
 
The subdivision permission is dependent on remedial works including repairs and various conservation works to the Edzell being carried out to a minimum value of $300,000 within two years.
Edzell was bought in late 2011 by Semmens with vendor finance from architect Michael Spivakovsky and his wife, Cheryl, who took security over another Semmens property, the recently sold Rosecraddock, the Caulfield North mansion.
After paying $7.8 million in 2007, Semmens secured Glen Eira City Council approval for six blocks of about 700 square metres within the curtilage of the 150-year-old Italianate mansion set on its then 8857-square-metre holding.
The Age has reported a Kmart executive has recently paid about $11 million for Rosecraddock. The James Market News website suggested last weekend it sold for $10 million plus.
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Former television news reader Simone Semmens yet to sell off historic 1890s Toorak riverfront Edzell waterfront block

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The historic Lambruk estate in Fryerstown, 10 kilometres south of Castlemaine, has been listed for sale.
The gold-rush homestead on the 30-acre Taradale Road holding has been offered with $2.95 million hopes.
It boasts a coach house, conservatory and colonial-legacy gardens that surrounds the 1860s sandstone home built from the riches of the goldfields by Edward Rowe.
It last sold for more than $1.75 million when in 2005 Waller Realty sold to a Melbourne family who intended to use it as a weekender. It's been relisted this time through Rob Waller.
It has been transformed internally to house three bedrooms, formal dining and sitting rooms, an office, library with glassed conservatory.
There's a five-vehicle stone coach house, mezzanine storage and antique tower clock.
The grounds comes with pool, stone cottage with ensuite, tennis court with guest pavilion, along with grazing paddocks vegetable gardens, paths and fountains, stone walling, ornamental lake and a creek within the property.
Edward W.H.Rowe's family owned <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/13150568?src=nla.cs-pa&amp;q=%22HTTP%3A%2F%2FWWW.SLV.VIC.GOV.AU%2FJCOLLINS%2FGID%2FSLV-PIC-AAA91006%2F1%2FJC008368%22&amp;c=picture" target="_blank">Lambruk</a> for 75 years.
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Historic Lambruk estate in Fryerstown, south of Castlemaine listed at $2.95 million

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Mintaro, the mansion at Monegeetta, near Sunbury, has had its internal photos now uploaded as it nears it November 15 auction.
{yoogallery src=[images/stories/2012/10/oct15mintaroout]}
The photos afford a peek inside the private 9.9-hectare estate, which has been listed for executor's sale and set to conclude 78 years of Rae family ownership.
{yoogallery src=[images/stories/2012/10/oct15mintaroin]}
"It's a once undeniably grand and gracious homestead, now in need of total restoration, and with outstanding future use potential," says <a target="_blank" href="https://www.keatings.com.au/view-property/?OID=4545899">listing agent John Keating</a>.
The <a href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889">Monegeetta property </a>set at 2137 Melbourne Lancefield Road was designed by James Gall of Frognall and Noorilim fame for Captain Robert Gardiner.
Mintaro has been variously described as being “a small replica of Melbourne’s Government House” to “that crumbling mansion on the road to Romsey,” the marketing notes.
The mansion is set within a passive English park-like grounds featuring mature oaks, cedars, monkey puzzles, pines, sequoia and cypresses.
"A setting just awaiting designer garden enhancement," says Keating.
The grazing licence for the original 12,800-acre run of Mintaro was reputedly first held by John Pascoe Fawkner in 1844, before being taken over by Robert Gardiner in 1860.
The Mintaro design was influenced by <a href="https://en.wikipedia.org/wiki/Osborne_House" target="_blank">Osborne House, Queen Victoria’s summer residence on the Isle of Wight</a>.
The property<a href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889" target="_blank"> </a>was listed with $3 million-plus hopes.
It features in the work by Miles Lewis entitled <a href="https://www.mileslewis.net/lectures/10-australian-building/10-interiors.pdf" target="_blank">Victorian Interiors</a>.
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A peek inside Mintaro at Monegeeta after 78 years of family ownership

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Melbourne is set to get its second international airport after the federal government agreed to amend lease agreements with Avalon airport.
The government will amend the lease to Lindsay Fox’s airport so he can build a new terminal and sign up international airlines.
Fox can now build a terminal of up to 10,000 square metres and up to $15 million in value can be developed without federal government approval, the Australian Financial Review reported.
The airport, 15 kilometres northeast of Geelong, has been in negotiations for a long time to secure international carriers.
Local federal MP Richard Marles says Defence Minister Stephen Smith approved changes to the lease arrangement with Defence during the week.
“This is a truly historic day for Avalon Airport, for Geelong and for our region,” Marles told The Australian Financial Review.
“It means the airport operators can, with full confidence, get on with the job of securing an international airline for Avalon.
Chief executive of the airport Justin Giddings says the decision is critical to Avalon’s future growth.
“This decision gives us the certainty and confidence we need to go out and secure international airlines to operate out of Avalon,” Giddings says.
He called the decision “a huge win for Victoria, for the Geelong region and for the flying public”.
“This decision cements Avalon’s future as Victoria’s second major domestic and new international airport.”
Giddings says approval and the Victorian government's recent financial commitment to a rail link to Avalon means the airport can meet growing demand.
The state government has committed $50 million towards the design, planning, land acquisition and preliminary construction works of a rail link to Avalon Airport and $3 million for an aviation fuel line from Shell Geelong to the airport.
Linfox has controlled the airport since 1997, and Qantas’s low-cost carrier Jetstar has been using the airport since 2004.
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Avalon set for Melbourne's second international airport

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The Melbourne property market tread water over July, August and September with house prices rising 1% and unit prices falling 0.7%, according to the latest data from the Real Estate Institute of Victoria (REIV).
In the September quarter, the Melbourne median house price increased from a revised June quarter median of $525,000 to $530,000 while unit prices fell from a median $445,000 to $442,000.
The previous unrevised June quarter median was $535,000.
REIV CEO Enzo Raimondo says once consumer confidence returns, capital growth will return.
Currently though, he says, prices remain stable as home buyers and sellers continue to act cautiously.
“The pattern this year has been low transactions and prices at the level they were in early 2010,” says Raimondo.
“A combination of lower interest rates, lower prices, an improving clearance rate and small improvements in consumer confidence should sow the seeds of a recovery in the residential housing market.”
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<col width="373">
<col>
<col width="102">
<col>
<col width="119">
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<col width="96">
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<td width="373" height="21">Inner Melbourne Median Prices</td>
<td width="102"></td>
<td width="119"></td>
<td width="96"></td>
<td width="113"></td>
</tr>
<tr height="64">
<td height="64">House Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$830,000</td>
<td>-3.3%</td>
<td>$858,250</td>
<td>-2.4%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$832,089</td>
<td>-1.0%</td>
<td>$840,196</td>
<td>-3.7%</td>
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<tr height="20">
<td height="20">Trend</td>
<td>$834,211</td>
<td>-0.4%</td>
<td>$837,646</td>
<td>-3.6%</td>
</tr>
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<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
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<td height="21"></td>
<td></td>
<td></td>
<td></td>
<td></td>
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<tr height="64">
<td height="64">Unit and Apartment Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$486,000</td>
<td>-1.8%</td>
<td>$495,000</td>
<td>-2.8%</td>
</tr>
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<td height="20">Seasonally adjusted</td>
<td>$487,631</td>
<td>0.0%</td>
<td>$487,533</td>
<td>-2.8%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$487,248</td>
<td>-0.2%</td>
<td>$488,157</td>
<td>-2.9%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21">Middle Melbourne Median Prices</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">House Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$585,250</td>
<td>0.0%</td>
<td>$585,000</td>
<td>-1.6%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$590,535</td>
<td>1.5%</td>
<td>$581,986</td>
<td>-1.7%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$589,705</td>
<td>1.0%</td>
<td>$583,673</td>
<td>-1.8%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">Unit and Apartment Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$465,000</td>
<td>1.1%</td>
<td>$460,000</td>
<td>-1.4%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$461,335</td>
<td>0.1%</td>
<td>$460,653</td>
<td>-2.3%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$461,874</td>
<td>0.6%</td>
<td>$459,161</td>
<td>-1.9%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21">Outer Melbourne Median Prices</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">House Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$422,000</td>
<td>0.0%</td>
<td>$422,000</td>
<td>-1.9%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$426,617</td>
<td>1.3%</td>
<td>$421,162</td>
<td>-1.0%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$426,289</td>
<td>0.9%</td>
<td>$422,649</td>
<td>-1.0%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">Unit and Apartment Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$346,500</td>
<td>-2.4%</td>
<td>$355,000</td>
<td>-1.0%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$347,861</td>
<td>-1.8%</td>
<td>$354,205</td>
<td>-0.8%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$350,475</td>
<td>-0.3%</td>
<td>$351,365</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
The REIV has also, for the first time, introduced seasonally adjusted and trend quarterly data.
Seasonally-adjusted data takes into account seasonal, calendar-related movements while trend data reflects the long term movement of the median price and is considered as the underlying direction of the median price.
REIV spokesperson Robert Larocca says the seasonal data is more applicable to the December and March quarter data, when it will reflect seasonal variations.
“We have a lot more auctions in the December quarter and a lot fewer in March, which means that movement in the median price, in original terms, tends to be overstated in December and understated in March.
“It gives an additional level of analysis."
On a trend basis Melbourne house prices rose 1.8% while unit prices rose 0.8% with the more affordable middle and outer suburbs trending up and the more expensive inner city properties trending marginally down.
“REIV analysis of the market shows prices are beginning to trend upwards, particularly in the middle and outer suburbs. In trend terms the inner city median has dropped by 0.4% this quarter compared to an increase of 1% in the middle suburbs and 0.9% in the outer suburbs,” says Raimondo.
The highest growth was recorded in Thornbury where the median has increased by 11.4% to $750,000, in Yarraville with an 8.8% increase to $615,000 and Preston which recorded an 8.2% increase to $598,000.
The fringe suburbs of Mitcham, Cranbourne, Croydon, Greensborough and Rowville also recorded strong growth in demand and median prices over the quarter.
“Improvements in the middle and affordable price segments are also reflected in the fact that the median price of a house sold at auction dropped by 1.3% to $691,000 whilst one sold by private sale increased by 0.2% to $461,000.
In regional Victoria the median house price rose by a marginal 0.7% to $307,000 but are trending flat (-0.1%) while regional unit prices fell 1.7% in original terms to a median of $242,000 with prices trending down (-0.8%).
The three main regional recorded mixed results with the median price of a house in Ballarat increasing by 1.8% to $285,000, in Bendigo it dropped by 2% in the quarter to $301,000 and in Geelong there was a 6.1% to $362,000.
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