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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Socrates Vasiliades, the international commodities trader, has relisted his house at 3 Towers Road, Toorak.
With 22 rooms, a lift, home theatre, gym, pool, basement parking and well-kept gardens, it came with record-setting $30 million hopes last May.
<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/threetowers.jpg">
Kay &amp; Burton agent Ross Savas Savas advised several months later that he’d received two $25 million offers but Vasiliades was holding out for the full amount for the 2,140-square-metre property. It was then withdrawn from marketing until this week.
No new price indication has yet accompanied the latest marketing campaign, which began this week.
Vasiliades, who had had tradespeople flown in from around the world to work on the house during its six-year construction, now gives his address as London. The property was bought by his wife, Celeste, in 2002 for $4.6 million from Peter Thomas.
Vasiliades has been the chief executive of Core Mining since its 2003 establishment. The iron ore explorer is backed by Glencore International Plc and has Russian steelmaker OAO Severstal as an investor. He has over 23 years’ experience in the steel industry and prior to forming Core Mining he traded steel and bulk raw materials worldwide.
The Victorian price record remains with the 2010 Portsea sale of Ilyuka for $26 million.
<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/onetowers.jpg">
One Towers Road, Toorak (pictured above), owned by former JPMorgan Australia chairman Brian Watson, remains listed for sale.
Set on 3,900 square metres, the six-bedroom house was once owned by businessman John Elliott.
Its Kay &amp; Burton listing agent Michael Gibson expected the house to attract more than $26 million when it was listed last October.
The empty-nester Watson family bought the Toorak property in 2001 for $11.1 million, a then record-setting price.
Toorak’s highest-priced sale was the reported $24 million sale in 2010 of the former Baillieu family estate on St Georges Road, Toorak when bought by soft-drink magnate Harry Stamoulis.
It was bought from the Inge family, which own the aged-healthcare and property development company Zig Inge Group.
The Inge family had paid $14.8 million for the St Georges Road property in February 2009. The seven-bedroom Federation house had been the home of Diana Baillieu, mother of Victorian Premier Ted Baillieu, until she died aged 93 in 2008.
Building will start this month in Melbourne's blue-chip suburb of Toorak on one of the state's largest and most expensive new homes.
Building was scheduled to start last month one the replacement Stamoulis house to a design by Bruce Henderson.
''The project could be considered one of the largest commissioned single residential projects in recent Victorian history,'' Wayne Krongold from builders Krongold Constructions told The Age.
 
 
 
 
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 Toorak behemoths resume battle for possible record price crown as 3 Towers Road relisted 

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At 6pm this past Saturday, the James Clearance Rate for $1 million-plus Melbourne properties was 56% on the 32 auctions we attended. However we think that bare statistic understates the quality of the $1 million-plus market, given we included a number of fringe auctions today and that current stock levels are swollen right now. All in all we think it’s a borderline balanced market.
The Weekly Review Bidderman, our demand indicator, was a healthy 1.6 bidders per auction. One in three auctions we covered had three or more bidders. However, one in threeauctions were ducks (no bidders) and the other third were somewhere in between.
Decisions are being made again. It’s as simple as that. Both buyers and sellers are making decisions again, and as a result market activity has been picking up all month.
Most agents are reporting a good March with good results and this is happening because:
Sellers are saying – OK let’s focus on meeting the market rather than getting “my” price.
Buyers are saying – let’s buy a home rather than worry about the future.
These assertions have been supported by a number of sales, particularly in the $2 million to $4 million bracket, over the last few weeks.
Other evidence is the fact that our company has been involved in four more purchases this week, averaging over $2 million in Brighton, Hawthorn, South Yarra and Hawthorn East.
Why?
Life goes on. We don’t believe it’s any more complicated than that. Children are still being born, growing up and leaving home. These things aren’t going to be stopped by the Greek economy – and Melbourne is a healthy place at the top end to be and in which to own a home in March 2012.
The last fortnight has had limited auction results on low quantity/quality offerings. However, this weekend with around 100 auctions $1 million-plus Melbourne inner-east and bayside regions we have seen the continuing public signs of positivity in the market of late February. Sure, this weekend’s clearance rates weren’t stellar, but then the number of auctions were up significantly.
Next week, the last auction day before Easter, is a super Saturday with around 150 scheduled auctions over $1 million in Melbourne inner east and bayside. This is our first for the year (which just shows how the market has contracted since last year). The market really only has one more hurdle before spring before we can confidently say that some positive life has returned. That hurdle is the late April to late May market – really the last run before things quieten down for winter.
Yes, there is increased activity, but if you think that necessarily means prices have increased then as a buyer you may be overpaying and if you are a seller you may not be selling. Increased activity in early 2012 means more buyers and sellers agreeing on price and those agreements are largely occurring because sellers are meeting the market.
Many buyers don’t take risk into the equation when buying. However, this market must surely be showing observant buyers that risk is just as important an element in home buying as cashflow and capital growth.
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
 
 
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Melbourne top-end buyers and sellers are making decisions again

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Jellis Craig presents the change in house and unit prices in the Melbourne municipality of Monash during 2011.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/monashmap.jpg"><img src="/images/stories/monashmapthumb.jpg"></a>
Source:<a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
Numbers in brackets indicate a decrease
 
 
 
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Annual median dwelling price changes in Melbourne municipality of Monash in 2011: Jellis Craig

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Melbourne inner east
In Melbourne’s inner east slowing demand led to prolonged selling periods for many vendors in 2011, with buyers taking advantage of weakened conditions by making low offers. Consequently,  many properties that typically go to auction were offered to the market via private sale amid fears of insufficient demand.
Suburbs including Ringwood and Blackburn were among the region’s worst performers, suffering from increased supply of housing while demand constricted. Similarly, the suburb of Doncaster continues to see an ongoing increase in the supply of new apartments. The oversupply has implications for local values in the future as the stock of similar properties competes for buyers.
In 2012, the improvement to affordability is expected to give rise to activity from entry-level and first-home buyers who would otherwise be priced out of the market. However, activity among established home buyers is expected to remain slow as prices continue to stabilise following strong growth in 2009-10.
Geelong, Bellarine Peninsula and Surf Coast
During the final quarter of 2011 there was a general easing of sales activity and buyer enquiry across Geelong and Bellarine Peninsula, as demand from first home owners and investors softened.
Buyers are seeking well-maintained property that requires no immediate repairs or improvements expenditure such as new homes and fully renovated dwellings. Established home owners remain inactive and are concentrating on reducing debt levels in the short to medium term. This has caused a decline in properties for sale within the $500,000 to $1 million range.
The summer selling period has brought reasonable demand for properties in coastal areas including Ocean Grove, Barwon Heads, Torquay and Anglesea, however, slower selling conditions continue in Bellarine towns such as Portarlington, Clifton Springs, St Leonards and Leopold. This is expected to continue into the second quarter of 2012.
While it has not experienced any significant increase in property prices, Geelong West remains in high demand, with properties selling much faster than surrounding areas. Conversely, Wandana Heights has experienced sluggish sales as a result of improved transport linkages to neighbouring suburbs and supply of new housing available in the well regarded suburb of Highton Ridge, resulting in a poor performance for the area.
Macedon Ranges
Improved affordability had little effect on demand in Victoria’s north, with little activity from buyers and sellers in the Macedon region in late 2011. While transactions continue to occur they do so at lower levels than 12 months earlier, applying pressure to vendors to meet buyers’ expectations.
This trend is likely to persist in the first quarter of 2012, with movement in values between -4%  and 4% for some property types. This means there are good opportunities to buy in suburbs such as Gisborne and Woodend.
Even though conditions are ripe, investors are scarce, with buyers namely consisting of owner-occupiers and those downsizing from larger rural properties. Properties on larger allotments of land valued at over $600,000 are experiencing prolonged periods on the market due to poor demand.
On the upside, current conditions mean there are strong opportunities for savvy investors to purchase property at reasonable prices and achieve a sound investment return.  The area is experiencing a shortage of rental properties, which has led to significant demand and competition among renters.
South-east Gippsland
Melbourne’s outer south east eased into the new year period, with many buyers chasing reduced prices.
The Cranbourne prestige market softened in 2011, with some agents reporting 20% price falls and minimal sales over $500,000.
Similarly, Berwick recorded a fall of more than $35,000 in the median house price during the December quarter. While median statistic are often misleading due to fluctuations in stock levels the price fall has been confirmed by local real estate agents who witnessed the price decline across the outer south east, particularly within Pakenham, where demand dramatically reduced during the December quarter.
The Wonthaggi Desalination Plant has brought hundreds of workers to the town from Melbourne and surrounding towns.
The infrastructure project has attracted investors and resulted in rising property prices in the area. Local real estate agents reported that the investors seeking to purchase in the area held very little discrimination to local property and were just eager to secure a property. The desalination plant brought a transient workforce to Wonthaggi, which increased average rental returns from 4% to a high of 10% at peak periods. The activity also stimulated an increase in property prices by an average 25%.
As construction on the project nears completion prices in the town appear to be trending down, with the price of some properties already falling 20%. For now rents remain stable at 6% to 7%. The downward trending in the growth in this area begs the question about the long-term investment viability of Wonthaggi and other regional communities subject to major projects.
Greville Pabst is CEO of the <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>.
 
 
 
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Hotspots: Four bright spots for house prices in Victoria for 2012: Greville Pabst

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She might be solar powered, but even the iconic Skipping Girl Vinegar mascot, Little Audrey, is set to be switched off during Earth Hour 2012.
<img width="470" src="/images/stories/audrey1.jpg">
The Abbotsford icon was the first animated neon sign in Australia, designed in 1936, and on Saturday night will be tokenistically turned off by its owners corporation at 651 Victoria Street.
<img width="470" src="/images/stories/audrey2.jpg">
Jeanette Ward, Colliers International associate director, real estate management, says its among the 75 Victorian properties managed by Colliers International that have signed up to switch off their lights from 8.30 to 9.30pm this Saturday, March 31.
“Colliers International has been a key supporter of Earth Hour since 2007 and has again arranged for buildings within our real estate management portfolio nationally to have non-essential lighting turned off during this hour,” Ward says.
Earth Hour is an international cause, and people all over the world turn off their lights between 8.30pm and 9.30pm for one hour. The campaign aims to send a global message that is possible to take action on climate change and make a difference.
The historic skipping girl sign is powered by 27 rooftop solar panels with its power currently being paid for by AGL Energy using their 100% GreenPower energy plan until 2014.
Constructed in 1936 by Neon Electric Signs, which later built the Nylex Clock in 1961, she was originally rented to the Nycander factory in Victoria Street and advertised vinegar, being a part of the suburb's landscape until 1968 when the factory changed hands.
A replica of the original sign was made in 1970, after the factory was taken over by the Metropolitan Fire Brigade, which sold the sign.
By 1970, the new Audrey was erected, but in 1986 her lights went out again when that business, the Crusader Plate factory, closed.
Community lobby group Friends of Audrey, backed by energy supplier AGL, campaigned for and won heritage registration in 2007, and in 2009 she was fully restored after the group rallied community support and raised the necessary funds.
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Little Audrey, of Skipping Girl Vinegar, to take a well-deserved 60-minute break for Earth Hour

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The RBA’s decision to cut interest rates in November and December last year had an immediate effect on the property market in Melbourne’s struggling eastern suburbs, says Jellis Craig.
Jellis Craig Mount Waverley directors Paul Polychroniadis and Con Lazogas have written in Jellis Craig’s Annual Property Review that another interest rate drop would help the suburbs in the Melbourne municipality of Monash further.
Click to enlarge
<a rel="shadowbox" href="/images/stories/monashcomment1.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“The two consecutive interest rates drops in November and December 2011 had an immediate and positive impact on the local market, with the level of enquiry increasing measurably,” write Polychronidadis and Lazogas.
“We anticipate that any additional rate reductions will further stimulate the market. We have already witnessed larger numbers of viewers at our open for inspections.”
They say that families looking to upgrade are buoying the market in these areas thus far in 2012.
<a rel="shadowbox" href="/images/stories/monashcomment2.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“Whilst buyer enquiry has lifted across the board, it is most evident for houses in the $650,000 to $1.2 million range and townhouses in the range $500,000 to $800,000,” they say.
“Increased competition in the mortgage market will offer up attractive opportunities for buyers to finance in this range.”
This is in contrast to the end of last year, when buyer numbers were down and prices falling.
“We did see the number of bidders for each property down from the four or five parties from the previous year. This lack of competition kept prices subdued.”
 
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Further rate cuts would help property market in Monash in Melbourne’s eastern suburbs: Jellis Craig

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The general consensus is that there is an oversupply of apartments in Melbourne.

According to figures from the Victorian Building Commission, there was a 42% jump in apartment building permits in 2011, so the oversupply problem is not likely to go away in 2012. 

Valuation firm WBP believes established apartments within 15 kilometres of the CBD offer the best prospects in 2012 while new apartments further out are expected to decline in value due to oversupply.
Click to enlarge
<a href="/images/stories/clockmelbourneunits.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/clockmelbourneunitsthumb.jpg"></a>
Time: 4.30
Michael Yardney highlights the oversupply of inner-city and CBD apartments, with more being completed in the next few years. 

“This is occurring at a time when there is less demand from the demographic of tenants that rent in the CBD. This will put downward pressure on prices and rentals,” he says.

“Many of the apartments that have been sold off the plan are coming on stream in the next few years and have been purchased by investors. Some will have difficulty getting finance and settling their purchase. Others will be disappointed to see the end value of their properties is less than their purchase price.”

Yardney expects there will be an oversupply of inner-CBD and near-CBD apartments in Melbourne for a few years, causing prices to fall slightly.
Population: 4.1 million  
Median unit price: $416,000 
Unit price growth in February 2012: 0.8% 
Annual unit price growth to December 2011: -3.6% 
Annual unit price growth to July 2011: -2% 
Rental yield: 4.3%
To find out where your capital city sits on the property clock, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock">download our free eBook. </a>
 
 
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Melbourne unit market at 4.30 in its cycle and not yet bottomed out: Experts

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Melbourne’s housing market was one of the worst-performing markets in 2011, with the pace of capital decline picking up in the second half of the year.

According to Michael Yardney, different segments of the Melbourne housing market are at different stages of the property cycle.

“The top end of the market is at three o’clock, with an oversupply of property relative to the reduced demand for luxury property,” he says.

“There is more demand for properties in the middle end of the market – but there is still an oversupply of properties relative to demand. 

“Builders and developers have got ahead of themselves, and there is an oversupply of newly built house-and-land packages in the outer suburbs. This will create downward pressure on property values in these locations,” he says.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/clockmelbournehouses.jpg"><img src="/images/stories/clockmelbournehousesthumb.jpg"></a>
Time: 4.30
SQM Research’s Louis Christopher forecasts no real recovery in the Melbourne market until the third or fourth quarter of 2012, and he expects that any recovery will be modest.

Charles Tarbey is more bullish and says the Melbourne house market is close to bottoming out, with supply diminishing.

“As this happens Melburnians will become more excited about the residential property market,” he says.

WBP says established houses within 15 kilometres of the CBD have bottomed out while values for new houses further out will decline further.

“We expect activity in the established housing sector to improve in the first half of 2012. However, there is still an oversupply of new houses, which will see this market slightly under-perform in 2012,” WBP says.
Population: 4.1 million  
Median house price: $500,000 
House price growth in February 2012: 2% 
Annual house price growth to December 2011: -6.8% 
Annual house price growth to July 2011: -5% 
Rental yield: 3.5%
To find out where your capital city sits on the property clock, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock" target="_blank">download our free eBook.</a>
 
 
 
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Melbourne house prices at 4.30 in their cycle. with prices still falling: Experts

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Jellis Craig presents the change in house and unit prices in the Melbourne municipality of Manningham during 2011.
Click to enlarge
<a href="/images/stories/manninghammap.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/manninghammapthumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
Numbers in brackets indicate a decrease
 
 
 
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Annual median dwelling price changes in Melbourne municipality of Manningham in 2011: Jellis Craig

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Couples and families are increasingly upgrading in the eastern Melbourne municipality of Manningham, according to Jellis Craig.
Jellis Craig Doncaster director Andrew Keleher says open for inspections at houses favoured by this demographic have been very well attended, pointing towards a strong market in 2012.
“Going forward we have identified two particularly strong markets. Three- to four-bedroom houses in the range of $650,000 to $750,000, for young couples moving to the area,” Keleher says in Jellis Craig’s Annual Property Review.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/manninghamcomment1.jpg"><img src="/images/stories/manninghamcomment1thumb.jpg"></a>
Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
“At a recent opening we saw 96 groups in just 30 minutes, the most intense traffic at a single viewing in two years.
“We have also found a very strong resurgence back to the acre homes through the Donvale and  Templestowe area. Many of these buyers are looking to relocate from the inner city and recognise the family lifestyle benefits of these areas, which offer great value without a big mortgage.”
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/manninghamcomment2.jpg"><img src="/images/stories/manninghamcomment2thumb.jpg"></a>
Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
Keleher says prices dropped in Manningham in 2011, but he says this increased affordability and the area remains popular.
“Buyer sentiment in the Manningham market has remained particularly positive, buoyed by talk of a new rail link, great schools and very affordable housing.
“In 2011 we saw some decline in value, but this in turn generated a perception of affordability and introduced many new buyers to the area."
 
 
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