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

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

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

Dalcott targets owner-occupiers with South Brisbane debut Marrone

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

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

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

ODUS releases $18 million penthouse crowning La Mer Main Beach

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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A good turn-out at open for inspections is one of the first indicators that the market’s kicking off – four months into the new year, that’s exactly what we’ve been witnessing in Balwyn. We’ve gone from having four or five people turn up at our opens late 2011 to groups of up to 30 this year – and this is also translating into auction attendance, with our biggest auction last weekend drawing a crowd of 60 people (pictured).
Prior to our first set of auctions kicking off late February, we were already seeing strong signs of confidence returning, with nine private sales taking place in January alone – a record number compared with the usual two or three in previous years. Everybody’s been saying for a long time “save your money or pay your mortgage off before you make your next move”. It’s clear people have listened and are now in a better position to upgrade their lifestyle.
The issue in Balwyn though, is that buyers are ready but the stock is in short supply – not dissimilar to what’s happening around the rest of Melbourne at the moment, but low stock levels has always been a challenge in Balwyn, even last year. So we have an auction-oriented market with properties selling quickly – on average we’re holding six or seven auctions per weekend sometimes up to nine or 10 – and with clearance rates of at least 80%. March in particular was an exceptional month, with 25 auctions and a 90% clearance rate (compared with an average clearance of 65% in November and December).
Our first super Saturday was also a success, with only one property out of 12 passed in – indicative of the short supply in Balwyn and high demand for quality homes. The most astute vendors are reading the market well and seeing an opportunity to put their property on the market when listing numbers are low and there’s little competition against similar properties. They’re also continuing to lean towards auctions because it gives them three opportunities to sell; pre-auction, at auction and post-auction. Buyers also tend to look at auction properties first as they know there’s a limited window of opportunity to buy them and they get snapped up more quickly.
The most popular Balwyn properties are post-war 1950s three-bedroom cream or red brick homes – they sell nearly every weekend in excess of the $1 million mark. The property at <a href="https://www.domain.com.au/ore/Public/PropertyDetails/default.aspx?adid=2009452508" target="_blank">25 Winmalee Road Balwyn</a> is a classic example of the older-style home, recently selling for $1.05 million.
While we have a typical type of house, one thing we don’t have is a typical buyer. Compared to Richmond, for example, where young couples and investors dominate the market, Balwyn boasts an eclectic mix of buyers. It’s for this reason that units such as this one on <a href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=3798627&amp;Con=S" target="_blank">Greythorn Road</a> sell well – they’re suitable for a multitude of buyers, from young families to investors or older couples scaling back.
The number of enquiries we’re getting from potential vendors on a weekly basis is also growing – not dramatically, but we’re seeing the market balance out as buyer and vendor expectations start to align. I’m predicting that once Easter and the school holidays are out of the way, May will be our busiest month yet.
The market will remain steady but we may start to see a mild increase in values later in the year – we’re talking 3% to 5%. Days on market will start decreasing and stock levels will steadily start to increase once vendors realise the market’s picking up.
In terms of sale prices the market can be summed up with one word – realistic. Most sales are meeting expectations but not exceeding them. We’re seeing sales occur within the designated price range or slightly above reserve; they’re creeping there and just making it. Vendors are more realistic about market value, buyer confidence has grown but no one’s over-excited – not just yet.
Toby Parker is director of <a href="https://www.hockingstuart.com.au" target="_blank">hockingstuart </a>Balwyn
 
 
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cknowlton-QnEa6ntUYP

Balwyn: The hockingstuart mid-2012 autumn property review

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Vendors in Sunbury, about 40 kilometres north west of the Melbourne CBD and most famous as the birthplace of The Ashes, sold on average 1.6 houses every day last year, making it Australia’s most heavily traded hotspot.
In total there were 604 sales in Sunbury in 2011, making it one of just eight locations out of Smart Investor magazine’s 601 hotspots that managed an average of at least one sale a day over the course of 2011.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
Sunbury house prices grew by 5.3% over 2011, but are forecast to grow by only 2% over 2012.
Second on the list is Tennant Creek in the Northern Territory, nearly 1,000 kilometres from Darwin, which had 491 sales last year and is a centre of both mining exploration and cattle grazing, while another mining and agricultural town, Emerald, in the Queensland central highlands, recorded 375 sales during 2011.
The eight locations also include the outer-Melbourne suburb of Tarneit, which recorded 424 sales over 2011.
Both Sunbury and Tarneit are part of the Baillieu government’s $200 billion growth corridor plan, which aims to house 1 million people over the next 20 years in north, west and south-east Melbourne suburbs <a href="https://www.propertyobserver.com.au/victoria/a-new-adelaide-on-melbourne-s-outskirts-baillieu-government-s-growth-corridor-plans/2011110952270" target="_blank">and create a regional centre the size of Adelaide</a>.
Sunbury forms part of the City of Hume, which the Victorian government expects will “continue to play a key role in contributing to the national economy and Australia's global position, with an expectation that employment will grow to between 90,000 and 95,000 jobs”.
Tarneit is in the city of Wyndham, the fastest-growing region in Melbourne and a hotspot for residential developments with 23 active projects comprising 24,000 homes underway with Australand, Dennis Family Corporation, Multiplex, Stockland, Peet and Villawood among those involved. Tarneit’s population is forecast to grow by at least 161,000 people by 2031.
Sunbury and Tarneit are among those suburbs that will benefit from an investment program, which includes the building of new train infrastructure, major roads, revamping town centres, building 350,000 new homes and the creating jobs for 400,000 people as well as building new parks and environmental reserves.
According to legend, following a game of cricket between the English cricket team and a local side, Sir William Clarke and Lady Clarke were presented with an urn containing the ashes of a bail used during the game in their grand Sunbury mansion of Rupertswood (now the home of Salesian College).
 
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="78">
 
</td>
<td valign="top" width="56">
State
</td>
<td valign="top" width="54">
Number sold in 2011
</td>
<td valign="top" width="54">
Sales per day
</td>
<td valign="top" width="77">
Median price
</td>
<td valign="top" width="69">
Year on year change
</td>
<td valign="top" width="73">
12 month forecast
</td>
<td valign="top" width="71">
Median rent
</td>
<td valign="top" width="65">
Gross rental yield
</td>
</tr>
<tr>
<td valign="top" width="78">
Sunbury houses
</td>
<td valign="top" width="56">
Vic
</td>
<td valign="top" width="54">
604
</td>
<td valign="top" width="54">
1.65
</td>
<td valign="top" width="77">
$356,000
</td>
<td valign="top" width="69">
5.3%
</td>
<td valign="top" width="73">
2%
</td>
<td valign="top" width="71">
$318
</td>
<td valign="top" width="65">
4.7%
</td>
</tr>
<tr>
<td valign="top" width="78">
Tennant Creek houses
</td>
<td valign="top" width="56">
NT
</td>
<td valign="top" width="54">
491
</td>
<td valign="top" width="54">
1.35
</td>
<td valign="top" width="77">
$230,000
</td>
<td valign="top" width="69">
24.3%
</td>
<td valign="top" width="73">
1%
</td>
<td valign="top" width="71">
Snr
</td>
<td valign="top" width="65">
Snr
</td>
</tr>
<tr>
<td valign="top" width="78">
Canning Vale houses
</td>
<td valign="top" width="56">
WA
</td>
<td valign="top" width="54">
490
</td>
<td valign="top" width="54">
1.35
</td>
<td valign="top" width="77">
$525,000
</td>
<td valign="top" width="69">
-1.9%
</td>
<td valign="top" width="73">
5+%
</td>
<td valign="top" width="71">
$450
</td>
<td valign="top" width="65">
4.7%
</td>
</tr>
<tr>
<td valign="top" width="78">
Goulburn houses
</td>
<td valign="top" width="56">
NSW
</td>
<td valign="top" width="54">
456
</td>
<td valign="top" width="54">
1.25
</td>
<td valign="top" width="77">
$269,500
</td>
<td valign="top" width="69">
7.8%
</td>
<td valign="top" width="73">
3%
</td>
<td valign="top" width="71">
$270
</td>
<td valign="top" width="65">
5.8%
</td>
</tr>
<tr>
<td valign="top" width="78">
Traralgon houses
</td>
<td valign="top" width="56">
Vic
</td>
<td valign="top" width="54">
453
</td>
<td valign="top" width="54">
1.24
</td>
<td valign="top" width="77">
$265,000
</td>
<td valign="top" width="69">
4.7%
</td>
<td valign="top" width="73">
2%
</td>
<td valign="top" width="71">
$280
</td>
<td valign="top" width="65">
5.5%
</td>
</tr>
<tr>
<td valign="top" width="78">
Brisbane units
</td>
<td valign="top" width="56">
Qld
</td>
<td valign="top" width="54">
439
</td>
<td valign="top" width="54">
1.2
</td>
<td valign="top" width="77">
$430,000
</td>
<td valign="top" width="69">
0%
</td>
<td valign="top" width="73">
3%
</td>
<td valign="top" width="71">
$560
</td>
<td valign="top" width="65">
6.5%
</td>
</tr>
<tr>
<td valign="top" width="78">
Tarneit houses
</td>
<td valign="top" width="56">
Vic
</td>
<td valign="top" width="54">
424
</td>
<td valign="top" width="54">
1.16
</td>
<td valign="top" width="77">
$370,000
</td>
<td valign="top" width="69">
4.2%
</td>
<td valign="top" width="73">
0%
</td>
<td valign="top" width="71">
$300
</td>
<td valign="top" width="65">
4.2%
</td>
</tr>
<tr>
<td valign="top" width="78">
Emerald houses
</td>
<td valign="top" width="56">
Qld
</td>
<td valign="top" width="54">
375
</td>
<td valign="top" width="54">
1.03
</td>
<td valign="top" width="77">
$412,250
</td>
<td valign="top" width="69">
8.5%
</td>
<td valign="top" width="73">
5+%
</td>
<td valign="top" width="71">
$550
</td>
<td valign="top" width="65">
7.6%
</td>
</tr>
</tbody></table>
Source: Smart Investor
Photograph by Elizabeth Donoghue, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
 
 
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lschlesinger-FZcF9M3vE6

Sunbury tops list of most traded hotspots, with more than one house sold a day

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Prahran is one of Melbourne’s auction hotspots, with its 2012 clearance rate running at 75%.
The suburb, which has a good supply of Victorian houses, is attracting buyers who just can’t find anything as affordable in Toorak, Armadale or South Yarra.
''The better streets of Prahran and East Prahran, where there's been some market activity of late, are drawing what we call 'lateral buyers','' Marshall White agent Marcus Chiminello told Fairfax Media.
''They are buyers who are happy to compromise on postcode if they can get similar amenity nearby.''
{yoogallery src=[images/stories/april3grandview]}
RT Edgar agent Jeremy Fox, who sold the top-selling house at the weekend in Prahran, at 4 Grandview Grove (pictured above), says the market appears to be improving.
The house was described as a stunning single-level Italianate Victorian residence renovated and extended under supervision of Carr Design and featuring pool and spa, high ceilings, floor to ceiling glass, return driveway and two street frontages.
With three bidders, the house on 918 square metres fetched $4.57 million, having been listed with initial $4 million-plus hopes. It was announced on the market at $4.32 million, according to the James Buyers Advocates report.
Fox says there are a lot of people trading up their houses now and a lot of people coming from overseas.
Prahran had the highest number of auctions on the weekend, with 13 out of 17 reported results sold, reflecting a 76% weekend clearance rate.
Real estate agency hockingstuart says <a target="_blank" href="https://www.propertyobserver.com.au/residential/prahran-the-hockingstuart-mid-autumn-2012-property-review/2012040254120">Prahran will continue to have strong capital growth.</a>
 
 
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jchancellor-FAypfDUnLy

Prahran a Melbourne auction hotspot as buyers trade down from Toorak

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The Real Estate Institute of Victoria has released a list of the 10 Victorian suburbs with the highest capital growth rates over the past five years and over the past one year. Only the north-eastern Melbourne suburb of Ivanhoe appears on both lists, with 7% capital growth in the past year and a remarkable 94% capital growth over the past five years.
One-year capital growth Victorian hotspots:
<img src="/images/stories/15percent.gif">
The capital growth in the past year in Derrimut, according to the Real Estate Institute of Victoria. House prices increased from a median of $400,000 in 2010 to a median of $460,000 in 2011.
 
<hr>
 
<img src="/images/stories/13percent.gif">
The capital growth in the past year in Healesville, according to the Real Estate Institute of Victoria. House prices increased from a median of $372,500 in 2010 to a median of $421,000 in 2011.
 
<hr>
<img src="/images/stories/9percent.gif">
The capital growth in the past year in Fitzroy, according to the Real Estate Institute of Victoria. House prices increased from a median of $835,000 in 2010 to a median of $912,500 in 2011.
 
<hr>
<img src="/images/stories/9percent.gif">
The capital growth in the past year in Taylors Lakes, according to the Real Estate Institute of Victoria. House prices increased from a median of $470,000 in 2010 to a median of $510,000 in 2011.
 
<hr>
<img src="/images/stories/8percent.gif">
The capital growth in the past year in Melton, according to the Real Estate Institute of Victoria. House prices increased from a median of $470,000 in 2010 to a median of $510,000 in 2011.
 
<hr>
 
<img src="/images/stories/8percent.gif">
The capital growth in the past year in Cairnlea, according to the Real Estate Institute of Victoria. House prices increased from a median of $482,000 in 2010 to a median of $519,750 in 2011.
 
<hr>
<img src="/images/stories/8percent.gif">The capital growth in the past year in Toorak, according to the Real Estate Institute of Victoria. House prices increased from a median of $2,385,000 in 2010 to a median of $2,567,500 in 2011.
<hr>
 
<img src="/images/stories/7percent.gif">
The capital growth in the past year in Chirnside Park, according to the Real Estate Institute of Victoria. House prices increased from a median of $450,000 in 2010 to a median of $483,500 in 2011.
 
<hr>
<img src="/images/stories/7percent.gif">  
The capital growth in the past year in Ivanhoe, according to the Real Estate Institute of Victoria. House prices increased from a median of $1,075,000 in 2010 to a median of $1,152,500 in 2011.
 
<hr>
 
 
 
Five-year capital growth hotspots
 
<img src="/images/stories/94percent.gif">
The capital growth in the past year in Ivanhoe, according to the Real Estate Institute of Victoria. House prices increased from a median of $595,000 in 2006 to a median of $1,152,500 in 2011.
 
<hr>
 
<img src="/images/stories/87percent.gif">
The capital growth in the past year in Albert Park, according to the Real Estate Institute of Victoria. House prices increased from a median of $717,500 in 2006 to a median of $1,340,000 in 2011.
<hr>
 
<img src="/images/stories/86percent.gif">
The capital growth in the past year in Sunshine North, according to the Real Estate Institute of Victoria. House prices increased from a median of $234,000 in 2006 to a median of $435,000 in 2011.
<hr>
<img src="/images/stories/86percent.gif">
The capital growth in the past year in Braybrook, according to the Real Estate Institute of Victoria. House prices increased from a median of $230,500 in 2006 to a median of $428,500 in 2011.
 
<hr>
 
<img src="/images/stories/84percent.gif">
The capital growth in the past year in St Albans, according to the Real Estate Institute of Victoria. House prices increased from a median of $210,000 in 2006 to a median of $386,000 in 2011.
 
<hr>
 
<img src="/images/stories/81percent.gif">
The capital growth in the past year in Sunshine, according to the Real Estate Institute of Victoria. House prices increased from a median of $238,000 in 2006 to a median of $430,000 in 2011.
 
<hr>
 
<img src="/images/stories/80percent.gif">
The capital growth in the past year in Brunswick East, according to the Real Estate Institute of Victoria. House prices increased from a median of $430,750 in 2006 to a median of $776,000 in 2011.
 
<hr>
 
<img src="/images/stories/80percent.gif">
The capital growth in the past year in Doveton, according to the Real Estate Institute of Victoria. House prices increased from a median of $183,000 in 2006 to a median of $329,500 in 2011.
 
<hr>
 
<img src="/images/stories/79percent.gif">
The capital growth in the past year in Airport West, according to the Real Estate Institute of Victoria. House prices increased from a median of $315,000 in 2006 to a median of $565,000 in 2011.
 
<hr>
 
<img src="/images/stories/78percent.gif">
The capital growth in the past year in Springvale, according to the Real Estate Institute of Victoria. House prices increased from a median of $265,000 in 2006 to a median of $472,000 in 2011.
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Top 10 Victorian capital growth hotspots, with Ivanhoe a shining star for past five years: REIV

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Rose Porteous placed a $4.5 million vendor bid when her redundant Toorak abode went to weekend auction. The Perth socialite bought the Irving Road house for $4.75 million in 2007. The Georgian-style residence comes with a double-height entrance hall. It was listed with Phillip French and Jeremy Fox at RT Edgar.
<img style="border-style: initial; border-color: initial;" src="/images/stories/porteous2.jpg">
The three-bedroom, four-bathroom house comes with lift access. Any sale will draw the curtain on Porteous's plentiful Toorak property plays, which have filled the city's society columns for much of the past decade.
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Rose Porteous’s Toorak home passed in at weekend auction: Title Tattle

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Both Neometro’s luxury Forty One Darling Street South Yarra duplex terrace abodes have now sold.
<img src="/images/stories/41darling.jpg">
The latest sale was a four-bedroom, three-bathroom house with multiple living areas with 344 square metres of internal space and terraces of 50 square metres plus plunge pool.
<img src="/images/stories/41darling2.jpg">
It was a design collaboration between Neometro and interior designer Kerry Phelan with warm greys and honey tones, timber flooring, quality stone and bespoke timber cabinetry and detailing. There’s a lift from its basement car parking.
<img src="/images/stories/41darling3.jpg">
Its lush gardens include a palm tree.
<img src="/images/stories/41darling4.jpg">
It was the latest in the offerings from the Neometro’s 25-year track record. Possibly Neometro's best-known development is the Luxe building on Inkerman Street in St Kilda, which won the Royal Australian Institute of Architects national award for commercial architecture in 2000.
<img src="/images/stories/41darling5.jpg">
It sold through Ben Khong at Neometro for just over $4.1 million. The slightly larger north-facing adjacent terrace fetched $4.4 million of the plan in 2010.
<img src="/images/stories/41darling6.jpg">
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Neometro secures final sale at 41 Darling Street 

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The REIV has recently released the median prices for 2011. This data set differs from the quarterly data in that it compares all of the residential property sales in 2011 with those in 2010 and 2006 rather than just three months’ worth of sales.
This has the effect of smoothing out some of the peaks and troughs evident on a quarterly basis, thereby providing a clearer medium-term picture of the market.
The data showed that the median house price in Melbourne dropped by 1.8% from $550,000 in 2010 to $540,383. It’s important to understand this result in the context of what happened in 2010, when the median price of a house increased by 18% from $465,000 in 2009. Ongoing increases of that order would not be sustainable and it would appear that prices did drop from the peak in December 2010, partly due to concerns about affordability and a lack of confidence in the economy.
Over the same time, the median price of a unit dropped by 1.3% to $456,000 from $462,000 in 2010. This shows that the performance of the unit and apartment market mirrored that for houses.
This contrasted, however, with the outcome in regional Victoria, where the median price of a house increased by 3.6% from $304,000 to $315,000. While regional Victorian house prices do not exhibit the same variability of those in Melbourne, they also do not match the long-term growth, with a 27% increase since 2006 compared with the 46% increase recorded in Melbourne.
Enzo Raimondo is CEO of the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
 
 
 
 
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enzoraimond-7fvRFHPR52

Regional Victoria prices play catchup, but the city remains the powerhouse since 2006

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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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maljames-vHwm28JUAa

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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