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

Joel Robinson

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

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

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

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

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

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?

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A remarkable church conversion in Moonee Ponds has been listed for sale.
{yoogallery src=[images/stories/2012/10/nov5hudson1]}
The conversion of an 1892 Anglican <a target="_blank" href="/news">Moonee Ponds</a> church was designed by owner and architect duo Dominic and Marie Bagnato.
The Gothic-style timber church was originally built by Tadgell Brothers following the general consensus at an 1890 residents' meeting that the area needed a church for religious purposes and Sunday school.
The church was officially opened by then Lord Bishop of Melbourne Dr Goe. The treasurer of the consortium who built the church was Robert Hedge, who was honoured in a 1901 memorial. which still existed in 2008.
The church acted as a venue for sports meetings, working bees and other social activities. The church was part of the St Thomas parish, before leaving temporarily in 1915 and permanently in 1960.
In 1904, an extension to the church was built at the rear and in 1918 a vicarage was built nearby. A church hall was built in 1927. The current vendors bought the church itself in 2007.
Heritage documents say the front gable of the church is adorned with a decorative barge board standing proud from the main wall.
“There is a small Gothic-style porch centrally located in the main facade. The design of the church building is symmetrical. The interior of the building matches the overall design in its simplicity,” Heritage Victoria documents say.
“The arched windows are plainly pointed, the walls are with a timber dado, the ceiling has timber lining and the exposed trusses are also constructed from timber. Most interior fittings such as the pews, the pulpit, altar and font have been removed.”
Upstairs pictures on page 2
 
<hr class="system-pagebreak">
 
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/VIC/Moonee-Ponds/?adid=2010097178">The five-bedroom conversion</a> includes an open plan living, dining and entertaining area situated arranged around a Nero Tempesta marble fire-place and looking out over the swimming pool.
{yoogallery src=[images/stories/2012/10/nov5upstairshudson]}
It has limestone floors, Baltic pine ceilings and a Calacatta marble kitchen with a butler's pantry.
Upstairs has a mezzanine lounge, which leads onto a loft with city views.
There is a 700-bottle capacity wine cellar, a gym and a day bed retreat.
The conversion is being sold by Jellis Craig agent John Morello. It goes to auction on December 1 with price hopes for more than $2.4 million.
It comes on 445 square metres.
Recently a Bullarto Church with <a href="https://www.propertyobserver.com.au/residential/bullarto-uniting-church-sells-at-%24115000/2012101457155">toilet complications</a> sold for $115,000.
And an <a target="_blank" href="https://www.propertyobserver.com.au/victoria/collingwood-1870s-church-listed-as-heavenly-development-opportunity/2012082156023">unconverted church in Collingwood</a> sold for more than $2.5 million to a couple looking to renovate and occupy.
Hocking Stuart agent Charles Atkins sold the property.
“It was a great result, we were very pleased. At the time there were a lot of people looking at it for commercial purposes, but it ended up being purchased a couple looking to occupy as home,” Atkins says.
And a church in nearby Napier street sold for more than $2 million in September. Agent Grant Sutherland says it was bought by a developer looking to turn it into apartments.
 
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awalsh-7Ub9EypybQ

Moonee Ponds church conversion listed for sale

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The brief rally in Melbourne dwelling values ended in October with property values expected to bounce around near the bottom of the market for another 12 to 18 months, according to RP Data senior research analyst Cameron Kusher.
As the quarterly data (below) shows, Melbourne median house values are flat again, while unit prices are starting to decline after rising strongly in August and September. 
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="99"></td>
<td valign="top" width="84">
MEDIAN HOUSE PRICE
</td>
<td valign="top" width="86">
QUARTERLY CHANGE
</td>
<td valign="top" width="83">
RENTAL YIELD
</td>
</tr>
<tr>
<td valign="top" width="99">
OCTOBER
</td>
<td valign="top" width="84">
$508,000
</td>
<td valign="top" width="86">
0.6%
</td>
<td valign="top" width="83">
3.6%
</td>
</tr>
<tr>
<td valign="top" width="99">
SEPTEMBER
</td>
<td valign="top" width="84">
$507,750
</td>
<td valign="top" width="86">
2.8%
</td>
<td valign="top" width="83">
3.6%
</td>
</tr>
<tr>
<td valign="top" width="99">
AUGUST
</td>
<td valign="top" width="84">
$495,000
</td>
<td valign="top" width="86">
2.6%
</td>
<td valign="top" width="83">
3.6%
</td>
</tr>
<tr>
<td valign="top" width="99">
JULY
</td>
<td valign="top" width="84">
$510,000
</td>
<td valign="top" width="86">
-0.2%
</td>
<td valign="top" width="83">
3.6%
</td>
</tr>
</tbody></table>
 
 
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="86">
 
</td>
<td valign="top" width="86">
MEDIAN UNIT PRICE
</td>
<td valign="top" width="97">
QUARTERLY CHANGE
</td>
<td valign="top" width="75">
RENTAL YIELD
</td>
</tr>
<tr>
<td valign="top" width="86">
OCTOBER
</td>
<td valign="top" width="86">
$420,000
</td>
<td valign="top" width="97">
-1.3%
</td>
<td valign="top" width="75">
4.5%
</td>
</tr>
<tr>
<td valign="top" width="86">
SEPTEMBER
</td>
<td valign="top" width="86">
$417,500
</td>
<td valign="top" width="97">
4%
</td>
<td valign="top" width="75">
4.3%
</td>
</tr>
<tr>
<td valign="top" width="86">
AUGUST
</td>
<td valign="top" width="86">
$428,750
</td>
<td valign="top" width="97">
2%
</td>
<td valign="top" width="75">
4.4%
</td>
</tr>
<tr>
<td valign="top" width="86">
JULY
</td>
<td valign="top" width="86">
$426,000
</td>
<td valign="top" width="97">
-0.7%
</td>
<td valign="top" width="75">
4.4%
</td>
</tr>
</tbody></table>
 Source: <a href="https://www.myrp.com.au/" target="_blank">RP Data</a>. Note the median price is the middle price of all settled sales over the three months to the end of the final month.
“Melbourne did start to see a recovery in the last six months, but we were always a little bit surprised at this recovery,” Kusher says.
“The market did not correct for very long or by very much though and there is still the potential for further correction.”
Kusher says it could be 12 to 18 months before the market starts rising, and even then gains are likely to be modest.
Melbourne also has the weakest rental yields for both houses (3.6%) and units (4.5%) of all capital cities and is also the only capital city where gross returns (capital growth combined with rental income growth) are in negative territory (-0.8% in October), providing little  incentive for investors.
“Investors should be looking outside of Melbourne," Kusher says.
“The low rental yields are just a function of strong price growth over the last four to five years to late 2011, but with no pressure on rents due to extra housing coming through from the inner city unit market,” he says.
Unit values fell 3.2% over October to a median of $420,000, and Kusher says oversupply from inner -city developments is definitely a factor.
“There is a huge amount of supply in areas like Docklands and the CBD.”
Kusher says property market observers should keep in mind that a market like Perth is just starting to turn around, having taken 5 ½ years to fall from its peak. This was also the case with the Sydney market.
“Perth is just turning around and is still 7% below its peak. Sydney fell 10% from peak to trough,” he says.
Melbourne property prices only started trending down in late 2011 and are currently down only 2.4% from a year ago – the recent rally helping to correct some of the previous losses.
Kusher says the outlook is a little better for Melbourne houses than units.
This is principally because residential developers, which hold of lot of land-banked stock on the outskirts of the city, can hold off releasing this to the market.
However, developers of inner-city apartments that have sold off the plan are already committed to build, or in many cases, apartment projects are already under construction.
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lschlesinger-FZcF9M3vE6

Property investors should look outside of Melbourne as short-term rally ends: RP Data

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The third episode of Grand Designs Australia airs November 1 with an eco conscious couple upgrading their 1930s hobby farm beach shack into an entertainer’s home.
The episode features a property in <a href="/news">Balnarring</a>, a town located in the south-eastern Mornington Peninsula.
Claire and Lisa want to build a sustainable, Modernist, entertainers' home with a mix of recycled materials.
A cellar and pool will be located three metres down in the basement.
Three bedrooms with ensuites will be located on the ground floor.
The large kitchen and living space will feature rammed earth walls and concrete polished floors.
The master bedroom will be upstairs, with the white box appearing to be floating above the lower level.
Claire and Lisa started building their new home in April last year.
Lisa says on her blog that the most challenging part of the project was the destruction of the old house.
According to RP Data, the median sale price in Balnarring is $495,000, a 59.7% change in median price over the past five years.
Separate houses account for 98% of dwelling types.
A two-bedroom blue beach shack located at 14 Buckley Street, Balnarring, recently sold for $400,000.
Alternatively ,a 12.68-hectare property at 195 Stumpy Gully Road and only minutes from Balnarring beach has a $2.2 million asking price.
Last week's episode featured a Californian bungalow in Hampton being replaced by a sculptural, Japanese style all-timber house.
Grand Designs Australia airs Thursday nights on the LifeStyle channel at 8:30pm.
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ntrotman-Et3xWpamVh

Balnarring hobby farm beach house as Grand Designs Australia's third episode 

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Affordable housing in Melbourne is only available in fringe suburbs, with inner suburbs out of reach for most investors and all but the wealthiest first-time home buyers, according to a state government report.
The discussion paper titled Melbourne let’s talk about the future says Melbourne needs to address affordable housing in the city.
“We have an ageing population, those heading towards retirement have reduced wealth, and housing stress is a chronic problem for about 10% of households,” Planning Minister Matthew Guy says.
“Almost all of the city’s most affordable housing is in the outer suburbs with the inner suburbs out of reach to many renters and all but the wealthiest first-home buyers.”
The report finds a dramatic reduction in housing affordability over the last decade means home buyers now have less choice about where they can buy a home.
“People with less money to spend (who are at greater risk of mortgage stress) can only buy in Melbourne’s outer suburban fringe if they want to own a detached house.”
And the report finds that while the cost of the house itself is often lower in outer areas, transport costs can negate some of these savings.
More people are at risk of mortgage stress with the number of people fully owning a dwelling dropping from 40% to 30% over the last 20 years while the number of people paying off a mortgage has risen from 30% to 35%.
The report finds low-income single-person households face the most difficulties renting affordable housing.
In the March quarter, just 0.3% of one-bedroom dwellings let would cost no more than 30% of gross to a single person solely reliant on Centrelink payments.
“Without action the cost of buying or renting a house in Melbourne is likely to rise in the years ahead, particularly in established suburbs. The cost of a dwelling in the middle suburbs of Melbourne needs to be reduced if we are to have any prospect of providing an opportunity to a wider range of the population to live in these areas, and greater socioeconomic diversity in existing neighbourhoods,” Guy says.
With renters facing the most difficult affordability conditions Guy proposes a number of changes to improve affordability.
He says affordable living could be addressed by:
<ol>
<li>Increasing housing supply;</li>
<li>Reducing the cost of building;</li>
<li>Reducing barriers to affordable housing development;</li>
<li>Preserving or offsetting the loss of existing low-cost housing;</li>
<li>Encouraging new affordable housing with planning scheme controls or incentives;</li>
<li>Securing dedicated social housing – housing rented at below market cost;</li>
<li>Increasing the number of jobs in suburban areas, to reduce commuting distances and times for suburban residents;</li>
<li>Reducing the need to own a second car and even any car per household by improving cycling, walking and public transport options; and</li>
<li>Other incentives to integrate affordable housing into new developments.</li>
</ol>
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Matthew Guy's nine-step plan to addressing housing affordability in Melbourne

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The REIV September quarter medians show that the residential housing market continues to remain stable, with a median house price in Melbourne of $530,000, compared with the revised June quarter median of $525,000. In regional Victoria the median house price was also stable, with a minor 0.7% increase to $307,000.
The non-metropolitan market continues to record more moderate growth over the medium term but is also not as likely to record the more volatile fluctuations prevalent in Melbourne.
The three main centres reflected this and recorded mixed results, with the median price of a house in <a target="_blank" href="/news">Ballarat </a>increasing by 1.8% to $285,000; in <a target="_blank" href="/news">Bendigo </a>it dropped by 2%  in the quarter to $301,000; and in <a target="_blank" href="/news">Geelong</a> there was a 6.1% reduction to $362,000.
The Surf Coast Shire is regional Victoria’s most expensive, with a median house price of $570,000. The Macedon Ranges is the second most expensive, with a median of $470,000.
Strong growth in prices was recorded in: Mildura, where the median increased by 7.6% to $225,000; in Bairnsdale, where it rose by 5.2% to $225,000; and in Traralgon, which rose by 9.3% to $282,000.
Over the quarter the rental vacancy rate dropped from 2.9% to 2%.
Of the three main regional centres the highest level of vacancies was recorded in Geelong, where the vacancy rate was 3.5% in September. In Bendigo it remained very tight, with 0.9% of rental homes vacant. Ballarat recorded 1.3%.
Median rents for houses rose slightly over the quarter from $290 per week in July to $295 per week in September.
Enzo Raimondo is CEO of the <a href="https://www.reiv.com.au/" target="_blank" rel="nofollow">Real Estate Institute of Victoria</a>.
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enzoraimond-7fvRFHPR52

Volatile price fluctuations unlikely in regional Victorian property market

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A 1905-built St Kilda terrace with a rooftop garden deck has sold for nearly $1 million above its reserve price. 
<a href="https://www.domain.com.au/Public/PropertyDetails.aspx?adid=2010010800" target="_blank">Gorphwysfa</a>, the 21 Mary Street property, sold for $3.3 million at its super Saturday auction, well above its reserve of $2.5 million. 

It was sold by Buxton agents Karl Gillon and Ranko Cvjeticanin.

The Edwardian terrace on 253 square metres had been in the same family for 30 years before selling.

The four-bedroom <a target="_blank" href="/news">St Kilda</a> home has coffered ceilings, a marble master bathroom, four bathrooms, an internal atrium garden and a glass wet bar.

Cvjeticanin  was pleased with the result.

“This was a pleasant surprise and just another example of how prices continue to exceed expectations,” Cvjeticanin  says.
But <a target="_blank" href="https://www.12crimeastreetstkilda.com/home">an 1880-built St Kilda terrace</a> (pictured below) listed by Leon Piterman, the vice-chancellor of Monash university and his consultant wife, Hannah, didn't get to weekend auction.
<img src="/images/stories/2012/10/crimeast1.jpg">
Enniscorthy, the 611-square-metre two-storey property had been expected to sell for more than $2.5 million at its October 27 auction before it was postponed to November 17th.

It comes with a broad tessellated tiled veranda, an imposing double arched entrance hall, 4.2-metre ceilings, Baltic pine floors and a Tuscan-inspired garden.


Marketing for the property describes it as one of the area's most admired homes, featuring hydronic and under-floor heating, an alarm system, a basement wine cellar, intercom, laundry, auto-gates and off-street parking for four cars.

Buyers' agent Guy Angwin from Mal James Buyers Advocates says the property is a classic but has some floorplan issues.

“This property has been updated over time, and whilst it is not a recent renovation it does provide some floorplan flexibility,” Angwin writes in his summary of the property.

“This is a significant property with good land content, and while it has some floorplan issues, with the right renovations it could become a fine large family home.”

It was last listed for sale in 1997.

It comes with five bedrooms, two bathrooms and four car spaces.

The house is surrounded by the Tuscan-style gardens, which give the property a second street frontage on Marlton Crescent.

The hall, sitting room, dining room and study all feature marble fireplaces.

Stone floors lead through to the kitchen living and dining areas.

It is being sold by Simon Gowling from Damian O'Sullivan.

Leon Piterman was given Queen's birthday honours in 2006 for service to family medicine through distance education for doctors in remote areas, to research and student training, and to international medical education.

The property mentioned in The Argus in 1956 going up for lease £4/16/9.

The property is being marketed with its own website.

 


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Hit and miss with prestige St Kilda terrace offerings

<html><body>
Warracknabeal in the Wimmera is Victoria’s most affordable suburb despite mooted plans for a giant topless statue of musician Nick Cave.
The median house price in the wheatbelt town is just $105,864, with 54 properties sold in the last 12 months, according to RP Data.
The town, the birthplace of Nick Cave, is nearly 300 kilometres north west of Melbourne.
According to the 2011 census the town has a population of 2,745, with 1,349 dwellings. This is up from 2,625 as indicated by the 2006 census.
Previous RP Data figures suggest the town has a median rent of $160 per week for houses. Median prices fell 8.8% last year.
Nick Cave has long harboured plans of building a giant golden statue of his likeness bare-chested on a rearing stallion. The plans have been discussed since at least 2001, but he says recent economic conditions might make constructing a giant gold statue of himself in the middle of the town seem in bad taste.
Cave is the legendary frontman  of Grinderman, The Bad Seeds and The Birthday Party.
Perhaps investors should buy now and wait for prices to no doubt skyrocket after Cave finally realises his plans.
A search on online real estate listing portals reveals more than 50 options.
A property at <a href="https://www.realestate.com.au/property-house-vic-warracknabeal-107575231">32 Gardiner Street</a> is listed for sale at $125,000, though a quick check reveals it has been on the market since August last year. It was originally listed at $137,000 before gradually dropping down. Prior to this it was listed for most of 2009 at $120,000 before being reduced to $115,000.
The three-bedroom property sits on 590 square metres and is listed through Rob Lehmann from North West Real Estate. It was listed for rent at $150 per week in January this year, giving a gross yield of around 6.25%.
The property at <a href="https://www.realestate.com.au/property-house-vic-warracknabeal-111218187">111A Jamouneau Street</a> has a similar history. It’s a three-bedroom house on 1,000 square metres listed at $120,000. It was on the market for most of 2011 at $129,500 and was relisted in August this year for $120,000 through John Hadley, again from North West Real Estate.
And<a href="https://www.realestate.com.au/property-house-vic-warracknabeal-107497689"> 6 Kelsall Street</a> has been listed at $99,500 through Gerry Smith First National. Marketing for the cottage suggests the property could rent at $145 per week, giving a gross yield of around 7.5%. The 1930-built property has been on the market for 475 days.
Nearby Dimboola is the second most affordable suburb in Victoria, with a median house price of $107,470.
Coleraine in the Southern Grampians is the third most affordable suburb with a median house price of $117,263.
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;">
<colgroup>
<col width="63">
<col>
<col>
<col>
<col width="122">
<col>
<col>
<col>
<col width="127">
<col>
<col>
<col>
<col width="131">
<col>
<col>
<col>
<col width="86">
<col>
<col>
<col>
<col width="87">
<col>
<col>
<col>
<col width="69">
<col>
<col>
<col>
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<tbody>
<tr height="53">
<td width="63" height="53">National Rank</td>
<td width="122">Suburb</td>
<td width="86">Median Value</td>
<td width="87">Number sold (12 months)</td>
<td width="69">Distance from GPO</td>
</tr>
<tr height="20">
<td align="right" height="20">3</td>
<td><a href="/news">WARRACKNABEAL</a></td>
<td align="right">$105,864</td>
<td align="right">54</td>
<td align="right">286.7</td>
</tr>
<tr height="20">
<td align="right" height="20">4</td>
<td><a href="/news">DIMBOOLA</a></td>
<td align="right">$107,470</td>
<td align="right">22</td>
<td align="right">301.4</td>
</tr>
<tr height="20">
<td align="right" height="20">6</td>
<td><a href="/news">COLERAINE</a></td>
<td align="right">$117,263</td>
<td align="right">20</td>
<td align="right">289.4</td>
</tr>
<tr height="20">
<td align="right" height="20">10</td>
<td><a href="/news">CASTERTON</a></td>
<td align="right">$123,359</td>
<td align="right">20</td>
<td align="right">315.7</td>
</tr>
<tr height="20">
<td align="right" height="20">11</td>
<td><a href="/news">NHILL</a></td>
<td align="right">$125,876</td>
<td align="right">39</td>
<td align="right">337.3</td>
</tr>
<tr height="20">
<td align="right" height="20">19</td>
<td><a href="/news">ST ARNAUD</a></td>
<td align="right">$145,827</td>
<td align="right">40</td>
<td align="right">201.7</td>
</tr>
<tr height="20">
<td align="right" height="20">23</td>
<td><a href="/news">MERBEIN</a></td>
<td align="right">$152,548</td>
<td align="right">40</td>
<td align="right">469.8</td>
</tr>
<tr height="20">
<td align="right" height="20">25</td>
<td><a href="/news">MORWELL</a></td>
<td align="right">$153,087</td>
<td align="right">205</td>
<td align="right">134.9</td>
</tr>
<tr height="20">
<td align="right" height="20">27</td>
<td><a href="/news">TONGALA</a></td>
<td align="right">$157,724</td>
<td align="right">25</td>
<td align="right">173.6</td>
</tr>
<tr height="20">
<td align="right" height="20">28</td>
<td><a href="/news">RED CLIFFS</a></td>
<td align="right">$157,819</td>
<td align="right">69</td>
<td align="right">462.2</td>
</tr>
<tr height="20">
<td align="right" height="20">37</td>
<td><a href="/news">COHUNA</a></td>
<td align="right">$165,281</td>
<td align="right">37</td>
<td align="right">232.3</td>
</tr>
<tr height="20">
<td align="right" height="20">45</td>
<td><a href="/news">STAWELL</a></td>
<td align="right">$169,912</td>
<td align="right">83</td>
<td align="right">208.3</td>
</tr>
<tr height="20">
<td align="right" height="20">50</td>
<td><a href="/news">CHURCHILL</a></td>
<td align="right">$172,177</td>
<td align="right">70</td>
<td align="right">138.3</td>
</tr>
<tr height="20">
<td align="right" height="20">53</td>
<td><a href="/news">MOUNT BEAUTY</a></td>
<td align="right">$175,686</td>
<td align="right">24</td>
<td align="right">229</td>
</tr>
<tr height="20">
<td align="right" height="20">54</td>
<td><a href="/news">GOLDEN BEACH</a></td>
<td align="right">$176,096</td>
<td align="right">27</td>
<td align="right">217</td>
</tr>
<tr height="20">
<td align="right" height="20">55</td>
<td><a href="/news">ARARAT</a></td>
<td align="right">$176,575</td>
<td align="right">146</td>
<td align="right">187.9</td>
</tr>
<tr height="20">
<td align="right" height="20">56</td>
<td><a href="/news">MOE</a></td>
<td align="right">$176,809</td>
<td align="right">152</td>
<td align="right">120.3</td>
</tr>
<tr height="20">
<td align="right" height="20">61</td>
<td><a href="/news">ORBOST</a></td>
<td align="right">$178,426</td>
<td align="right">29</td>
<td align="right">307.1</td>
</tr>
<tr height="20">
<td align="right" height="20">65</td>
<td><a href="/news">KERANG</a></td>
<td align="right">$180,070</td>
<td align="right">48</td>
<td align="right">249</td>
</tr>
<tr height="20">
<td align="right" height="20">68</td>
<td><a href="/news">LOCH SPORT</a></td>
<td align="right">$181,507</td>
<td align="right">57</td>
<td align="right">231.3</td>
</tr>
<tr height="20">
<td align="right" height="20">73</td>
<td><a href="/news">MARYBOROUGH</a></td>
<td align="right">$182,870</td>
<td align="right">165</td>
<td align="right">132.8</td>
</tr>
<tr height="20">
<td align="right" height="20">76</td>
<td><a href="/news">AVOCA</a></td>
<td align="right">$185,411</td>
<td align="right">23</td>
<td align="right">147.7</td>
</tr>
<tr height="20">
<td align="right" height="20">78</td>
<td><a href="/news">TERANG</a></td>
<td align="right">$186,938</td>
<td align="right">25</td>
<td align="right">185.9</td>
</tr>
<tr height="20">
<td align="right" height="20">85</td>
<td><a href="/news">NUMURKAH</a></td>
<td align="right">$189,415</td>
<td align="right">49</td>
<td align="right">192</td>
</tr>
<tr height="20">
<td align="right" height="20">94</td>
<td><a href="/news">TALLANGATTA</a></td>
<td align="right">$192,312</td>
<td align="right">25</td>
<td align="right">264.4</td>
</tr>
</tbody>
</table>
Source: <a href="https://www.myrp.com.au/" target="_blank">RP Data</a>
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Warracknabeal and Dimboola most affordable housing locations in Victoria

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The last home to be designed by the Australian Modernist architect Guilford Bell has been listed for sale with $3.5 million-plus hopes.
It's a 1986 house on a 2.5-hectare block at <a href="/news">Officer</a>, minutes from Beaconsfield and Old Berwick, 50 kilometres south-east of Melbourne.
{yoogallery src=[images/stories/2012/10/oct26outwhiteside]}
The Grant House, also called Whiteside, was built in 1986 for Robert Grant and his partner who ran the popular City Gardener garden supplies business in Melbourne for many years. The property was previously an apple and pear orchard owned by Grant's family.
The sloping land framed by cypress hedges was the site for the home designed by Guilford Bell at the age of 74, and credited as his last major residential work.
The <a href="https://www.realestate.com.au/property-house-vic-officer-109981456" target="_blank">26-36 Whiteside Road </a>house is a snow-white pavillion style abode comes with its pyramidal, sky-pointing roof with Buddhist shrine or carnival marquee appearance.
The late respected architect Guilford Bell's status among well-to-do clients has triggered a National Trust-listing. Bell died in 1992. 
 
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The grounds have a pool and series of landscaped gardens – a cherry tree walk, a summer glade and sunken parterre, and terraces of white irises along with lawns and lotus-filled dam, towering cypress hedges, and white wisteria-covered arbour.
There are views to the Gippsland Ranges.
The house is clad in a corrugated Zincalume along with a second corrugated-steel structure to accommodate a three-car garage and a fully serviced cottage.
{yoogallery src=[images/stories/2012/10/oct26whitesidein]}
The other dominant feature is the use of 130,000 bricks within the house precinct and garden terraces, which took a local brickie almost two years to lay.
Its listing agent is Malcolm Graham of <a href="https://www.granthousewhiteside.com.au/history/" target="_blank">Alex Scott &amp; Staff Berwick</a>. 
It was briefly listed for sale in 2007 with $2 million-plus hopes when its zoning was yet to upgraded to its current Growth Corridor zoning for residential development.
"The privacy and peaceful surrounds of this site has a wow effect, which opens ones mind to the ongoing potential as only half the site is improved of this quality investment," its marketing material says.
The holding cost $36,000 in 1976. 
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jchancellor-FAypfDUnLy

Guilford Bell's last design, in outer Melbourne, listed

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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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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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