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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Period flats and houses close to Melbourne “villages” such as Elwood, Kensington, South Yarra, Prahran and Richmond Hill offer great investment potential, according to Greville Pabst, chief executive of property valuation and advisory firm WBP Property Group.
Speaking at the WBP Melbourne Property Outlook breakfast, Pabst said Melbourne had been built on villages and that being able to walk to the village to get a coffee was very important when looking at a potential property investment.
He says that “1960s and 1970s flats in low density are going to perform well. The high rises will struggle to perform”.
“In suburbs like Elwood, Prahran and South Yarra we are starting to get some really good results such as a two-bedroom 1960s flat in South Yarra that sold at auction recently with two strong bidders for $713,000.”
Pabst says he is also seeing competition for good-quality one-bedroom flats in East Hawthorn and South Yarra with prices approaching $500,000.
WBP is forecasting growth of between 2% and 6% for established houses and units within 10 kilometres of the Melbourne CBD in 2012.
However, the outlook for modern units in places like Docklands is poor, with WBP forecasting no price growth in 2012 and a potential drop of 5%.
“Investments must have high land value and an element of scarcity. Owning one apartment out of 200 in Docklands has no scarcity value,” Pabst says.
“You also have to think about the underlying land value,” he adds.
WBP Housing performance predictions for 2012
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="262">
 
</td>
<td valign="top" width="148">
Lower Limit
</td>
<td valign="top" width="205">
Upper Limit
</td>
</tr>
<tr>
<td valign="top" width="262">
Modern units / apartments (legitimate resales)
 
</td>
<td valign="top" width="148">
-5%
</td>
<td valign="top" width="205">
0%
</td>
</tr>
<tr>
<td valign="top" width="262">
Established units/apartments 
 
</td>
<td valign="top" width="148">
+2%
</td>
<td valign="top" width="205">
+6%
</td>
</tr>
<tr>
<td valign="top" width="262">
Prestige market ($3.5m +)
 
</td>
<td valign="top" width="148">
-5%
</td>
<td valign="top" width="205">
 
</td>
</tr>
<tr>
<td valign="top" width="262">
Prestige market ($2m - $3.5m)
 
</td>
<td valign="top" width="148">
-4%
</td>
<td valign="top" width="205">
+2%
</td>
</tr>
<tr>
<td valign="top" width="262">
Established houses: 10km of CBD (under $2m)
 
</td>
<td valign="top" width="148">
+2%
</td>
<td valign="top" width="205">
+6%
</td>
</tr>
<tr>
<td valign="top" width="262">
Established houses : 11 – 20km of CBD (under $2m)
 
</td>
<td valign="top" width="148">
0%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="262">
Holiday / leisure market 
 
</td>
<td valign="top" width="148">
-10%
</td>
<td valign="top" width="205">
-5%
</td>
</tr>
<tr>
<td valign="top" width="262">
Mortgage-belt (under $500k)
 
</td>
<td valign="top" width="148">
-2%
</td>
<td valign="top" width="205">
3%
</td>
</tr>
<tr>
<td valign="top" width="262">
Development sites 
 
</td>
<td valign="top" width="148">
-5%
</td>
<td valign="top" width="205">
0%
</td>
</tr>
</tbody></table>
 
Pabst provided examples of actual sales to show the merits of investing in period properties within villages instead of cookie-cutter units in suburbs with less history.
WBP advised on the sale of a 1960s two-bedroom flat in this block (below) on Tennyson Street in Elwood.
The flat <a href="https://www.realestate.com.au/property-apartment-vic-elwood-107372208">sold for $632,000 in May 2011</a>, having previously sold for $475,000 in 2008, equating to annual growth of nearly 10%.
<img width="470" src="/images/stories/pabst1.jpg">
The flat is close to the St Kilda Botanical Gardens among a “leafy streetscape” and is within walking distance of the St Kilda shopping strip that begins at the intersection of Barclay and Acland streets.
Pabst contrasted this with a flat on NewQuay Promenade in Docklands, which sold for $540,000 in 2010 having  been purchased for $495,000 in 2005 – annual growth of just 2%.
<img width="470" src="/images/stories/pabst2.jpg">
“You’re better off putting your money in the bank,” he says.
Furthermore, Pabst says the higher corporate ownership costs on this particurlar unit made it unviable as an investment
In October 2009, WBP advised on the sale of this three-bedroom Edwardian two-storey home. It sold for $780,000 having previously sold for $270,000 in 1998, representing annual growth of 10.12%
<img width="470" src="/images/stories/pabst3.jpg">
Pabst contrasted this with the 2012 sale of this three-bedroom house in Derrimut (pictured below), for which WBP acted as vendor’s advocate. The property was bought for $330,000 in 2004 and sold for $335,000, representing annual growth of 0.2% over eight years.
“She (the vendor) could have bought a flat in South Yarra that would be triple that value now,” says Pabst.
<img width="470" src="/images/stories/pabst4.jpg">
WBP also advised on the sale of a top-floor one-bedroom flat in this low-rise complex in Rowena Parade in Richmond Hill, which looks out of the MCG.
<img width="470" src="/images/stories/pabst5.jpg">
The <a href="https://www.realestate.com.au/property-apartment-vic-richmond-107555255" target="_blank">unit sold for $468,500 last year</a>, having previously sold for just $79,500 in 1998, equating to annual growth of nearly 15%.
In contrast, a Docklands apartment in this complex (below) on Bourke Street sold for $422,000 in 2010, having previously sold for $410,000 in 2007. This equates to annual price growth of 0.25%.
<img width="470" src="/images/stories/pabst6.jpg">
Pabst says investors need to burrow down not just into the suburb but into street level and even go as far as considering one side of the street versus the other.
“In Richmond, we don’t like to go south of Swan Street because of freeway noise or too far north of Bridge Road because the streets are narrow and as you get closer to Victoria Street you compete with restaurants for parking,” he says.
 
 
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Hotspots: Villages like Elwood and Richmond better for investors than Docklands: WBP

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All 10 of the properties on SQM Research's most discounted properties in Victoria list are in Melbourne suburbs, with no regional Victoria representation.
This is in sharp contrast to the list of the most discounted properties in New South Wales, which features four Central Coast properties and two properties in the Blue Mountains.
The property taking out the eighth spot on the Victorian list is in the new outer-Melbourne suburb of Caroline Springs, where the post office opened just seven years ago. 
"Victoria has been experiencing some extremes in the property market in comparison to other states, with Melbourne's stock on market figures considerably high (currently sitting at 45,423 as of February 2012 – up 19.8% year-on-year) as well as elevated residential vacancy rates (currently sitting at 12,719 vacancies and a vacancy rate of 3.5% as of January 2012)," SQM director Louis Christopher says. 
"These high figures for Melbourne have been previously attributed by SQM Research to the substantial amount of residential property development occurring in the capital city, as well as an overall increase in stock levels nationally over the course of the past year."
1
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D7287832" target="_blank">1365 Ballan Road, Wyndham Vale, VIC, 3024</a>
On the market since: May 22, 2010
Initial asking price: $2.4 million
Current asking price: $1.8 million
Reduction: 25%
Days on market: 609
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009275350" target="_blank">1/67 Ballarat Road, Footscray, VIC, 3011</a>
On the market since: October 9, 2011
Initial asking price: $329,000
Current asking price: $250,000
Reduction: 24%
Days on market: 140
 
3
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009308240">4/69 Denbigh Road, Armadale, VIC, 3143</a> (pictured)
On the market since: October 23, 2011
Initial asking price: $1,175,000
Current asking price: $900,000
Reduction: 23%
Days on market: 105
 
 
4
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107616668">13 Summit Avenue, Oak Park, VIC, 3046</a> 
On the market since: August 20, 2011
Initial asking price: $670,000
Current asking price: $510,000
Reduction: 24%
Days on market: 189
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009281706" target="_blank">24a Jackson Avenue, Mont Albert North, VIC, 3129</a>
On the market since: October  9, 2011
Initial asking price: $1,56 million
Current asking price: $1.2 million
Reduction: 23%
Days on market: 140
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009119742" target="_blank">20/234 Warrigal Road, Camberwell, VIC, 3124</a>
On the market since: July 24, 2011
Initial asking price: $180,000
Current asking price: $140,000
Reduction: 22%
Days on market: 182
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D109125461" target="_blank">2/17 Hamilton Road, Bayswater North, VIC, 3153</a>
On the market since: December 31, 2011
Initial asking price: $359,000
Current asking price: $280,000
Reduction: 22%
Days on market: 56
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009288821" target="_blank">3 Calthorpe Green, Caroline Springs, VIC, 3023</a>
On the market since: October 16, 2011
Initial asking price: $560,000
Current asking price: $440,000
Reduction: 21%
Days on market: 112
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107401737">12 Hotham Street, Cranbourne, VIC, 3977</a>
On the market since: May 14, 2011
Initial asking price: $329,000
Current asking price: $260,000
Reduction: 21%
Days on market: 252
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107415823">89b Bluff Road, Black Rock, VIC, 3193</a>
On the market since: May 21, 2011
Initial asking price: $1.2 million
Current asking price: $950,000
Reduction: 21%
Days on market: 280
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia</a> for sale.
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Most discounted properties in Victoria all in Melbourne: SQM

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Friesia, an 1888-built Italian Renaissance-designed Hawthorn house and one of Melbourne’s most captivating residences, has been sold.
The single-storey mansion was designed for the German consul William Brahe by architect John August Bernard Koch, who later designed Labassa in North Caulfield.
It’s been bought by Caulfield North couple Valeri and Irma Danilova. He hails originally from Makhachkala in the Russian Federation and resided in Sydney’s North Bondi in the early 1990s. He heads Australia's Quality Sheepskin Pty Ltd, whose core business is to supply raw sheep and lamb skins to tanners and dressers worldwide from its processing plant at Leongatha North in Gippsland.
The Hawthorn house was last traded in 1970 for $49,000 totally derelict – with no electricity, no hot water, no internal toilet, and the sky could be seen through most rooms.
It was listed by Kay &amp; Burton agent Scott Patterson, who <a href="https://www.propertyobserver.com.au/victoria/hawthorn-house-built-for-19th-century-german-consul-on-the-market/2011101051871" target="_blank">on its listing last November</a> hoped to secure $6.5 million plus.
No sale price has yet been revealed for the property, which was inspired by the works of Filippo Brunelleschi, father of Italian Renaissance architecture in Florence.
From its Corinthian-arcaded entrance, Friesia exhibits the grandeur, glory and grace of Melbourne's magnificent boom period during the 1880s.
It’s been sold by Warwick Forge and his wife, Sue, who have been running the biennial Australian Landscape Conference for 10 years in a bid to bring together creative landscape designers from overseas and Australia.
It is set in the small Isabella Grove enclave near a bend of the Yarra, and a pocket of German high culture was formerly centred on Friesia.
The flow of German immigrants began within 10 years of Melbourne being established in 1835, with vignerons laying the foundations of the Victorian wine industry in the Lilydale and Geelong districts during the 1840s, and many were attracted by gold discoveries in the 1850s.
 
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jchancellor-FAypfDUnLy

Hawthorn home Friesia, built for German consul, sells

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

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Collingwood’s 2011 Best and Fairest winner, Scott Pendlebury, still hasn’t sold his Newport cottage through Barry Plant Yarraville agent Niels Geraerts. And he’s committed to a $1.3 million Albert Park cottage, which was snapped up post-auction last spring.
His two-bedroom Douglas Parade property – just a stroll to Williamstown’s cafes – <a target="_blank" href="https://www.propertyobserver.com.au/residential/magpie-scott-pendlebury-on-the-move-but-not-to-greater-western-sydney-title-tattle/2011110452216">went to late November auction</a> with $780,000 to $840,000 expectations.
Pendlebury bought it for $567,000 in early 2008.
His latest price guide is between $780,000 and $820,000. The house is being advertised with a sale by set date marketing campaign – with a March 29 desired sale date.
<img src="/images/stories/pendlesnew.jpg">
His Albert Park purchase (pictured above) had previously sold at $1.28 million in 2010. The Albert Park cottage came with the former local dairy outbuilding that had been converted to self-contained office.
 
 
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Magpie Scott Pendlebury still hasn't sold Newport cottage: Title Tattle

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Upgraders will be busy in the inner-Melbourne suburb of Clifton Hill, according to Jellis Craig’s Annual Property Review.
“In 2012 the spotlight will again be on homes in the $900,000 to $1.3 million range as young families look to scale up from smaller single-fronted terraces. We are already seeing increasing numbers of these families at our viewings,” says Craig Shearn, director of Jellis Craig Clifton Hill, in the report.
Click to enlarge
<a href="/images/stories/cliftonhillcomment1.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cliftonhillcomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“Buyers now feel 2012 is the time to move, as should the market move again, the gap between what they own and what they want will only get wider.”
<a href="/images/stories/cliftonhillcomment2.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cliftonhillcomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
He says that in addition to upgraders, investors are also likely to be more active in the Clifton Hill area in the near future.
“We expect a marginal growth in the inner city in early 2012, with the possibility of an increased growth rate later in the year and into 2013. We also expect to see more investors returning to the market as rental returns in the inner city continue to strengthen.”
 
 
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Upgraders on the move in Clifton Hill in 2012: Jellis Craig

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News that the Baillieu government is planning to encourage the building of high-rise towers in regional centres of Victoria has sparked concern from mayor of Ballarat as well as the state opposition.
Victorian Planning Minister Matthew Guy has revealed plans for future high-rise towers and residential hubs, including a proposal for a Docklands-like development in Geelong.
The state government’s planning department has already drawn up proposed maps of where high-density developments could be allowed, with the regional centres of Ballarat, Bendigo and Geelong earmarked for development.
Guy told the Herald Sun on Saturday such urban development would turn the CBDs of Geelong, Ballarat and Bendigo into “terrific residential hubs where there are more restaurants, where there is more activity and less necessity to drive to work”.
However, the idea of Manhattan-style living in regional Victoria has not been welcomed by Ballarat mayor Mark Harris, who says such plans would not receive any enthusiasm from the Ballarat City Council.
Harris says he has spoken to Guy, who has assured him that Ballarat City Council would have control over its own destiny.
“The minister phoned me on Saturday to reassure that this zoning concept won’t be mandatory for Ballarat or Bendigo,” Harris told The Ballarat Courier.
“While there may be elements of it that we may choose to look at more closely, there is no enthusiasm in this council to look at that sort of zoning as appropriate for Ballarat at all.”
The proposal has also been slammed by opposition spokesman for planning and sustainable growth Brian Tee, who says the Ballarat community should be “very afraid of what is at stake”.
Guy has previously said he would like to increase the size of the Melbourne CBD by five times its current size.
 
 
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Ballarat mayor down on Matthew Guy's regional Victoria high-rise living proposal

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Jellis Craig presents the change in house and unit prices in the inner-Melbourne municipality of Richmond during 2011.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/richmondmap.jpg"><img src="/images/stories/richmondmapthumb.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 Richmond: Jellis Craig

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The overall Melbourne market declined 6.1% in December, according to RP Data, but the median house price in Richmond increased 4% during the year, according to Jellis Craig's Annual Property Review.
"From December 2010 quarter to December 2011 quarter median property prices in Richmond increased from $816,000 to $852,000, showing a modest growth at odds with the softening of the market nationally and showing that local variations distinguish the current market," says report author and Jellis Craig Richmond director Clayton Smith, <a target="_blank" href="https://www.propertyobserver.com.au/landlords/block-richmond-properties-hit-the-rental-market-with-yields-of-up-to-6.3/2011092851717">who also auctioned one of the properties for sale on the Channel 9 series The Block</a>.
Smith says, however, that it took longer to sell property during 2011, and that sales volumes were down.
"While we saw some bounce back in values, the volume of properties transacted was significantly  down in 2011, with 103 fewer than in the preceding 12-month period; particularly in the $1 million plus price bracket. The number of average days on market increased slightly from 28 to 34 compared with the previous year."
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/richcomment1.jpg"><img src="/images/stories/richcomment1thumb.jpg"></a>
Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
"The two interest rate reductions by December 2011 produced an immediate response from buyers, with more vigorous bidding competition at our auctions and producing some exciting results well beyond expectations.
"Although new home lending has been down, lending for existing properties has been trending upwards, and evidence suggests that borrowers remain more than able to service loan repayments and that many potential buyers have access to a house deposit."
Smith is optimistic for the Richmond market in 2012.
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Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
"The current market balance could be tilted by any additional reductions as buyers tired of waiting for what might be considered ‘the right moment’ enter the market. This could potentially tip the scales slightly in favour of sellers when friendlier interest rates meet pent-up demand," he says.
"The year has begun on a positive note with both buyers and potential sellers making contact with the office early in January, signalling their intention to transact this year."
 
 
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Richmond property prices defied downturn in 2011: Jellis Craig

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Balgownie, the very unusual 1913 Beaconsfield Parade, St Kilda West house has been sold. 
The three-level five bedroom house with a lift <a target="_blank" href="https://www.propertyobserver.com.au/victoria/vendors-of-st-kilda-west-home-hope-%245-million-is-over-the-horizon/2011092251652">was listed last September </a>at $5 million plus, but it was repriced at $3.9 million over the intervening months.
Shane Siemers and Andrew Stuart at Hocking Stuart recently posted the sold sticker. The sale price has not been disclosed.
 
 
 
 
 
 
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