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.

&nbsp;

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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."

&nbsp;

[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 signature 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." />

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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.

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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.

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"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.

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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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It’s taken just a few days for the snappy sale of one of Portsea’s Easter auction listings.
Dundonald, the five-bedroom, three-bathroom 1917 limestone residence opposite Fishermans Beach, has been sold.
It’s been sold by the Boykett family within one week <a href="https://www.propertyobserver.com.au/victoria/portseas-limestone-charmer-dundonald-on-the-market-after-quiet-summer-selling-season/2012022953637" target="_blank">of its first-ever listing</a>.
Set on 1,724 square metres of level lawns on the corner of Point Nepean Road and Relph Avenue, more than $2.75 million was being sought.
James Buyer Advocates suggests it fetched about $3.2 million through Kay &amp; Burton Portsea agent Liz Jensen.
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Portsea’s Dundonald sells within a week of first-ever listing: Title Tattle

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Jellis Craig presents the change in house and unit prices in the Melbourne municipality of Glen Iris during 2011.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/glenirismap.jpg"><img src="/images/stories/glenirismapthumb.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 Glen Iris in 2011: Jellis Craig

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Jellis Craig Glen Iris director Paul Williamson says investor activity dropped off in the inner-Melbourne suburb during the year, particularly for units.
Williamson also says buyers became choosier in the second half of the year, and a property had to offer great value in order to secure interest.
“We saw less investor activity for apartments and flats, which was no doubt a result of the softening of the broader economy. Towards the latter part of the year auctions were very price-sensitive, however properties that ‘ticked all the boxes’ saw multiple bidders vying to secure them,” Williamson says.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/gleniriscomment1.jpg"><img src="/images/stories/gleniriscomment1thumb.jpg"></a>
The median house price in the Melbourne suburb of Glen Iris fell 12.3% during 2011, but Williamson says property sold briskly when vendors were willing to meet the market.
“In 2011, against some challenging economic conditions, demand remained strong for quality period and modern homes in Glen Iris and its surrounds,” he says.
“We found that vendors who listened to the market were often rewarded with a better-than-expected result. “
“This outcome in a year of some uncertainty demonstrated that a well presented property in a desirable location, with strategic marketing will continue to perform beyond market expectation.”
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/gleniriscomment2.jpg"><img src="/images/stories/gleniriscomment2thumb.jpg"></a>
Williamson expects 2012 to be better for the suburb’s property market.
“As we now look ahead, we see renewed vigour in the market in just the opening weeks with significantly more buyers inspecting homes. A number of early 2012 marketing campaigns have seen up to 50 groups coming through scheduled opens with serious interest expressed prior to auction. These are indeed very positive signs that 2012 is a market on the rebound.”
 
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Investor market fell in Glen Iris in 2011: Jellis Craig

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The Macedon Ranges town of Woodend is perhaps most famous for its close proximity to eerie Hanging Rock, but that has not spooked Melburnians seeking a lifestyle change, with strong house price gains over the past 12 months.
Location and demographics
Woodend is located about 70 kilometres north of Melbourne just off the Calder Freeway and forms part of a corridor of Macedon Ranges country towns, which starts with Gisborne and runs all the way to Bendigo.
Woodend had a population 0f 3,170 at the time of the 2006 census and is estimated to be home to 3,600 currently. It expected to reach about 5,000 residents by 2036, with nearly half (47%) of Woodend’s population expected to be 65 or older by this time, according to forecasts by the Macedon Ranges Shire Council.
“There will be considerable growth in small one- and two-person households for example, and a greater proportion of older people in the population,” says the council report.
<img src="/images/stories/woodendtown.jpg">
The ageing population could result in an “increase in volunteerism and in vibrancy of community life”.
“However, it is a shift that requires appropriate resources, especially to meet the needs of the growing number of frail aged. Infrastructure, service and community planning also will need to consider the requirements of an ageing population. There will also be a need to ensure enough housing stock exists in Woodend that can meet the changing needs of its ageing residents,” says the report.
Key property data
Data compiled by the Real Estate Institute of Victoria (REIV) shows that Woodend house prices grew by 8.2% in 2011 to a median of $595,000 and have risen 77% over the past five years.
This is better than regional Victoria, where the median house price increased by 3.6% over 2011 to $315,000 and by 27% over the past five years.
In comparison, the Melbourne median house price contracted by 1.8% to $540,383 in 2011, though prices are still up 46% over the past five years.
According to research by property investor group Investar, Woodend had the fastest-growing house prices in 2011, with the price of a four-bedroom house appreciating by 38% to $580,000
Woodend vs other country Macedon ranges towns and Melbourne
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="123" valign="top">
 
</td>
<td width="123" valign="top">
Median house price
</td>
<td width="123" valign="top">
Change over past year
</td>
<td width="123" valign="top">
Weekly rent
</td>
<td width="123" valign="top">
Gross yield
</td>
</tr>
<tr>
<td width="123" valign="top">
Woodend
</td>
<td width="123" valign="top">
$518,750
</td>
<td width="123" valign="top">
8.2%
</td>
<td width="123" valign="top">
$340
</td>
<td width="123" valign="top">
3.4%
</td>
</tr>
<tr>
<td width="123" valign="top">
Gisborne
</td>
<td width="123" valign="top">
$437,500
</td>
<td width="123" valign="top">
6.7%
</td>
<td width="123" valign="top">
$350
</td>
<td width="123" valign="top">
4.2%
</td>
</tr>
<tr>
<td width="123" valign="top">
Kyenton
</td>
<td width="123" valign="top">
$377,000
</td>
<td width="123" valign="top">
21.6%
</td>
<td width="123" valign="top">
$290
</td>
<td width="123" valign="top">
4%
</td>
</tr>
<tr>
<td width="123" valign="top">
Melbourne 
</td>
<td width="123" valign="top">
$465,000
</td>
<td width="123" valign="top">
-5.4%
</td>
<td width="123" valign="top">
*$340
</td>
<td width="123" valign="top">
3.5% (H)
4.3% (U)
</td>
</tr>
</tbody></table>
Source: RP Data, *sourced from REIA
What the town has to offer:
A walk down the Woodend High Street reveals a modern rural village, with a mix of cafes, bookstores, expensive restaurants as well as a disproportionate number of real estate offices advertising properties for sale, most in rural settings.
Famous landmarks include the Holgate Brewhouse with its artisan beers, which stands in a restored 19th-century hotel and the 1920s Campaspe Country House on Goldies Lane, with its Edna Walling-designed gardens and natural bushland grounds.
Woodend’s most famous nearby landmark is the striking outcrop of rocks formed by ancient volcanic action known as Hanging Rock and the setting for the novel Picnic at Hanging Rock by Joan Lindsay about a group of Victorian school girls who go missing while on a picnic, later made into an acclaimed film by Peter Weir.
There is a direct V-Line train service from Melbourne’s Southern Cross to Woodend, which takes just over an hour, while a commute along the Calder Freeway takes about 45 to 50 minutes.
Nearby schools include Braemar College and Woodend Primary. Supermarkets include Coles and an IGA.
Current state of the market
Local agent Peter Mussared from Town, Coast and Country Realty Macedon tells Property Observer he is getting a good level of enquiries at the more affordable end of the market – properties priced between $400,000 and $600,000 – but not as much interest for those at the higher end of town.
He says most interest comes from Melburnians looking for a lifestyle property within an easy commute to the city.
Mussared is currently selling <a target="_blank" href="https://www.realestate.com.au/property-house-vic-mount+macedon-109727656">this three-bedroom country home on Waterfalls Road in nearby Mount Macedon</a> with a price tag of $465,000 targeted at first-home buyers, investors or “for those scaling down”.
<img src="/images/stories/woodend1.jpg" width="470">
“I have had 10 to 12 enquiries and two have come from investors. Most are from Melbourne buyers,” he says.
Mussared says the property could rent for around $370 to $380 per week, equating to a yield of around 4.2%.
According to the REIV’s Robert Larocca the growth in Woodend house prices is “part of a clear trend for above-normal prices for towns along a corridor north of the city, from Melbourne to Bendigo”.
Larocca says Woodend and other towns in the corridor have a lot more affordable options than what’s available in Melbourne
“Not every house is going to be that price but there are Melbourne-type house prices in that corridor ... and that really stands out when compared to many other parts of regional Victoria,” he says.
He also says the area has managed to retain its country charm despite its increasing popularity and has not gone down the route of sea-change beneficiaries like Torquay, which have responded to increased housing demand by developing “suburban-type homes”.
"I think part of the character and beauty of those towns along the Calder is that they still have very much that town feel about them,” says Larocca.
He expects house prices in the corridor to continue to rise beyond what is usually expected in regional Victoria.
"Location is critical in real estate and that's really obvious here, and I think you'll see them continue in strength over the coming years because all the things that make them popular and in demand at the moment are not going anywhere in a hurry."
The demand for housing in Woodend has prompted the release of 25 prime housing allotments on Washington Lane currently being market by Joan Gladman-Woodend. They allotments have an average land size of 600 square metres with prices ranging from $215,000 to $235,000.
Reasons to buy:
<ul>
<li>Affordable country living </li>
<li>Good transport connections to Melbourne</li>
<li>Town has retained country charm</li>
<li>Regular picnics at Hanging Rock</li>
</ul>
Reasons not to buy:
<ul>
<li>Investment in infrastructure required further down the line to manage growing and ageing population</li>
<li>An ageing population will not appeal to younger buyers.</li>
</ul>
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Hotspots: Tree-changing retirees driving up property prices in Woodend

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Neighbours veteran Ryan "Toadie" Moloney has listed his Malvern East house with $1.2 million hopes.
It's been the home of Moloney and his wife, Alison, for about five years. The four-bedroom house sits on a 664-square-metre block that comes with jet pool, studio/workshop and space for four cars.
Bennison Mackinnon agent Andrew Luke and Will Trenchard are holding the auction on March 24.
Inspectees have commented that Moloney likes his horse racing and cards judging by his attic-style retreat in the house.
Moloney, who never followed the Neighbours trend and released a pop single, became a regular on the show in 1996.
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Neighbours veteran Ryan 'Toadie' Moloney lists in Malvern East, seeking new neighbourhood: Title Tattle

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Kalimna, the grand 1881 Coburg mansionette, has been listed for sale.
The Italianate house with richness of details comes with a distinctive tower with a French mansard roof. Set on The Grove, the house was built for Montague Dare, who set about developing an ambitious estate with the promise of tennis court and pavillion and bowling rink.
It’s one of a pair, the other neighbouring maisonette being known as Koorali. 
Title Tattle recollects Dare was especially keen on giving the then Shire of Coburg <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/58433685?searchTerm=montague%20dare&amp;searchLimits=" target="_blank">a hurry along to get the drainage and lighting in the strip then known as Moreland Grove</a>. His estate demonstrates the speculative development associated with the land boom in Coburg just prior to the 1890s depression. The estate was halted by the depression. The pair is one of three proposed and two actually built, according to heritage websites.
The house was designed by Thomas Crouch, who began practising as an architect in Tasmania, but came to Melbourne for the 1850s gold rush.  Crouch was a founding member and secretary of the Victorian Institute of Architects and served as mayor of St Kilda in 1870-71.
Kalimna was later occupied by the Clare Grammar School. It had been divided into flats which were consolidated into a single dwelling in 1979. It hasnt been on the market for two decades or so. Additions were made in 1987, and the house underwent renovation in 1998. There’s dichromatic brickwork, lacework, a hand-carved staircase leading to five bedrooms. Offers close April 4 with Hocking Stuart agent John Sheldrick giving a $2 million price guide.
 
 
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Grand Coburg mansionette Kalimna, with French mansard roof, listed with $2 million hopes

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Analysing the data from recent auctions, 25% had three or more bidders while only 10% were ducks (i.e. no bidder auctions). These are the sort of stats that provide early indications of a strengthening market. Should this demand be sustained on the solid auction numbers in the next few weeks leading up to Easter, it’s safe to say for now that the $1 million-plus market, as a whole, has performed a lot better than most expected and that we may be in fact be in a stabilising price phase.
However if we have a repeat of 2011, where demand fell away after a fairly positive pre-Labour Day 2011 market, then all we are seeing now is a bit of price spiking.
As we keep saying, it is early days. But the numbers are substantial and if the clearance rates continue to improve and the bidder numbers continue to increase then in time we could see an end to price falls and prices could in time begin to climb again (the current market has been trending downwards since Anzac Day 2010).
Our focus for the above statements is the $1 million to $2 million segment. We are still not seeing any significant positive momentum in the $3 million-plus market. Sure, agents are claiming they’re getting offers on properties and yes, some long-term stales are being cleaned up. But they are at lower prices and happening when the vendor is meeting the market not the other way around. So before we acknowledge any uniform improvement across all segments of the market, we need to see the top level perform in greater numbers and a lot more consistently.
Overall the $3 million-plus market is seen by optimists as treading water and by realists as still edging backwards.
Do all the good deals have to drag out? Not necessarily. You can make it hard for yourself and the other side if you want, but good negotiations aren’t necessarily long, unpleasant and drawn out. Indeed, why wouldn’t you negotiate in a timely manner if it is right for both parties?
There are many deals out there in real estate land that haven’t worked out just because both sides have insisted on taking what they think is the “moral” or “right” stance (otherwise known as the “ego” or “victim” position). But over the decades we have found that the best position for buying and selling is the “agreement” position.
The fact is that there is no relationship between the time and pain involved in a negotiation and the quality of the outcome you end up with.  Otherwise how could anybody think a 15-minute Saturday auction was a good thing?
So don’t rush. Don’t go in unprepared or without good representation. But at the same time don’t snatch defeat from the jaws of victory for no good reason other than it seemed too quick or too easy. How dumb would it be if the negotiation could have been good, simple and quick and you still said no? Helllooo, sucker.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank"> 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’s million-dollar market could be turning around, but no momentum in super-prestige property

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Properties in the tightly held suburb of Ivanhoe, in Melbourne’s north east, have been trading hands more frequently of late, according to Jellis Craig’s Annual Property Review.
“While the market may have been more subdued at the end of 2011, median house prices in Banyule have generally defied the trend of a softening market.
“Suburbs such as Ivanhoe, which traditionally have a low turnover, where homes are often held by families for a generation, have enjoyed a 21% increase from December 2009 to December 2011 and more than doubled over the last five years,” says Jellis Craig Ivanhoe director Dave Oster.
“Last year we offered a superb family home in Ivanhoe East which exemplified all the fine features that are increasingly attracting buyers to the area at the higher end. This impressive home in Robinhood Road had a large block with a swimming pool and tennis court and was marketed over several months to achieve a $3.15 million result. The delighted buyer not only acquired a remarkable house but one in which they recognised the long term potential for capital growth.”
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/banyulecomment1.jpg"><img src="/images/stories/banyulecomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
He says sales have slowed in the first few months of 2012 in the area but expects volumes to rebound moving into the Easter period.
“Moving into 2012 we have seen the number of properties on offer slightly decline but increased numbers through the open for inspections have perceptibly increased in comparison to late last year,” says Oster.
“We have also received some solid pre-auction offers over the January/February period, which we anticipate will convert to improved clearance rate levels this side of Easter.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/banyulecomment2.jpg"><img src="/images/stories/banyulecomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“The more active buyers are those in the market for properties either side of $1 million. Properties located close to train stations and schools are attracting very healthy numbers at viewings, while those with difficult floor plans or not within easy access to public transport are more challenging.
“We will start to see solid listings in the coming months with an even mix of top end properties in Ivanhoe and Eaglemont and more affordable family homes on large blocks in neighbouring Rosanna and MacLeod.”
 
 
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Sales in tightly held Melbourne suburb of Ivanhoe up 21% in past two years: Jellis Craig

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Kate Aujard from Pulse Pharmacies has snapily sold her imposing Hawthorn residence.
With a tennis court in its 2,800-square-metre grounds, the five-bedroom, four-bathroom English-style house is set on Scotch Hill. It last traded at $9.1 million in 2007 when bought from head hunter David Dick and wife Sandra, so it represented a good test of Melbourne’s prestige market.
Tim Picken and Scott Patterson at Kay and Burton haven’t revealed the sale price, but Title Tattle reckons its likely to have sold at around the realistic quote price of $8 million in quick time – within two days of offers being due earlier this month.
 
 
 
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Fading price pulse in Hawthorn prestige market as Kate Aujard sells at a loss: Title Tattle

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The historic gothic 1914 Mount Martha mansion Glynt Manor, briefly known as Demetri’s Castle, has been sold to the prominent Zampelis restaurateur family.
But the Zampelis family, who’ve operated more than 70 hospitality venues in Victoria since the late 1980s, including Cafe Greco, The Long Room, Lotus, Silk Road and Waterfront at Crown, have decided to lease out the property.
The Zampelis family snapped up the property for $3,399,000 – <a target="_blank" href="https://www.propertyobserver.com.au/residential/demetri-s-castle-sells-for-%24900000-loss-not-including-televised-labour-of-love/2011111352335">which represented a $900,000 loss</a> in three years by the Commonwealth Bank in a mortgagee sale.
It had been initially listed by the vendors, hair and make-up artists Demetri and Lila Sideropoulos, at $6.5 million in 2010.
The nine-bedroom, eight-bathroom mansion was bought by the Greek couple in 2008 for $4.3 million from Michael Puttock and Diana Carr.
They then thoroughly renovated it into a family home and bed-and-breakfast on the SBS documentary Demetri’s Castle, a name that’s been abandoned by the new owners.
It sits on about 8,000 square metres, with views of Port Phillip Bay and the Melbourne lights in the distance. It was designed by Harold Desbrowe Annear as a single-storey farmhouse for the Henty family, descendants of Victoria's first European settlers.
It bears a similarity to another of his designs, Delgany at Portsea. Its later owners included the Buxton family from 1917 to 1983 when the then 31-hectare property featured sweeping lawns, orchards and farmlands that ran right to the edge of the bay.
In 1969 the family subdivided the property but retained the manor and two hectares of beautiful English- and French-inspired gardens.
In 1983 the property was sold to new owners, who restored the grand old manor and ran it as a tourism resort, naming it "Glynt By The Sea". It was again run as a bed-and-breakfast from the mid-1990s by the adventure travel pioneer Bill King.
Mark Callan and William Gilchrist bought the property in 1997 and commissioned Yarraville architect Hugh Basset to undertake some interior redesigns while the home's former gardener, Bob Barker, who started work at Glynt in the late 1920s, returned to restore the gardens.
The duo sold the property in 2000 for $2.35 million.
Last year the Sideropouloses indicated they were selling so they could pursue opportunities overseas, saying they didn't get attached to things. Geoff Smith from LJ Hooker Frankston sold last November, some four weeks after its scheduled October auction, and now has it up for rent.
ASIC documents indicate Smith was taking instructions from administrators of the holding company Mt Martha Landmark Pty Ltd.
The Zampelis Group owns seven restaurants/bars/cafes in the Melbourne area serving over 15,000 customers a week. Earlier this month The Age reported that Crown Casino faces a multimillion-dollar damages payout after Victoria's appeals tribunal found it breached a verbal agreement with Nick Zampelis to renew leases for his former riverside eateries.
The decision by the Victorian Civil and Administrative Tribunal heard Zampelis claimed former Crown owner Lloyd Williams and his two sons, Nick and John, told him the lease for the two venues,  Cafe Greco and Waterfront, would be extended by at least five years.
Despite denials by Lloyd Williams, his sons and Crown management, VCAT senior member Alan Vassie decided a ''collateral contract'' did exist and ordered for damages to be determined by an independent assessor. A Crown spokesman Gary O'Neill told Fairfax Media it would appeal the decision.
 
 
 
 
 
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