Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Joel Robinson

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

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?

Boutique Perth developer ADC has unveiled its latest project.

The developer, which focuses on bringing apartments to some of Perth's most premium inner-city and riverside suburbs, has launched <a href="https://www.apartments.com.au/new-apartments/mos-lane-mosman-park-46-manning-street-mosman-park-wa-6012">Mos Lane</a>, 68 luxury apartments and townhouses in the heart of <a href="https://www.apartments.com.au/developments/mosman-park-wa-6012">Mosman Park</a>.

<section data-scroll-anchor="true" data-testid="conversation-turn-124" data-turn="assistant" data-turn-id="request-69e027bc-1530-839b-a316-e9dad2cbd4d9-34" dir="auto">
Alongside the one-, two-, three- and four-bedroom apartments, the development will also include five two-level townhomes and two luxe penthouses. ADC is also introducing a significant retail offering for residents through Mos Lane Village, which will feature a wellness studio, fish and chips shop, barber, and florist, adding a layer of amenity not typically found in the predominantly residential Mosman Park area.

Construction has already commenced on the project, which sits just a short walk from the Swan River, Mosman Park Bowls Club, and Mosman Park Golf Course.

House Agency Directors Tom House and Lachlan McDonald say they are fielding the majority of buyer interest from local downsizers, as well as buyers with a long-standing affinity for Mosman Park.
</section>

[smartcode_project:default project_id=148957 project_image_fid=364591]

Mos Lane will comprise two buildings; Samson House and Manning House, which have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/nelson-koo">Nelson + Koo</a>, an emerging design consultancy specialising in the masterplanning and design of mixed use places and spaces.

The two buildings adopt distinct architectural responses to their surroundings. Manning House references the strong roof forms of nearby homes, with floorplates oriented to maximise light and long-range views, while Samson House is organised around a central atrium designed to bring daylight deep into the building and create a greater sense of openness.

At ground level, the inclusion of five townhomes introduces a typology more commonly associated with Mosman Park’s established streets, each with private courtyards and direct frontage, offering a transition between traditional housing and apartment living.

[smartcode_project:default project_id=148957 project_image_fid=364103]

Interiors have been led by Melbourne-based Hecker Guthrie, with an emphasis on practical, long-term liveability. Residences incorporate sculpted joinery, generous storage and flexible multi-purpose rooms that can adapt to changing household needs, whether for working from home, guest accommodation or additional living space.

Material selections draw on a restrained palette of textured stone, timber and neutral tones, with options for lighter or darker schemes. Detailing such as fluted glass, full-height joinery and integrated appliances is intended to balance functionality with a more refined residential finish.

Outdoor spaces are a consistent feature across the development, with balconies and terraces designed for dining and entertaining, and larger apartments incorporating outdoor kitchens. Orientation has been considered to allow residents to choose between morning or afternoon sun, while mature street trees and landscaped communal areas contribute to a softer streetscape.

[smartcode_project:default project_id=148957 project_image_fid=364107]

Shared amenities are positioned to support both day-to-day convenience and occasional use. These include a private dining room with a caterer’s kitchen, alfresco entertaining areas, and a bookable guest suite for visiting friends and family. Additional practical features such as a resident workshop, storage facilities, car and pet wash areas, and concierge-style services for cleaning and dry-cleaning collection reflect a focus on usability.

Positioned between the Swan River and Cottesloe Beach, and within reach of schools such as Iona Presentation College and St Hilda’s Anglican School, the development is aimed at a broad buyer group, from downsizers seeking a lower-maintenance alternative to larger homes, through to local residents looking to remain in the area in a different housing format.

Mos Lane represents one of the more significant additions to Mosman Park’s limited pipeline, combining new housing supply with a village-style retail centre in a suburb where opportunities for large-scale redevelopment are relatively constrained.

[smartcode_project_cta:default project_id=148957]

Living village precinct set for Mosman Park as ADC launches Mos Lane

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WA landlords will have to maintain minimum levels of door and window security and outdoor lighting for tenants following the introduction of new rental laws.
New legislation in WA covering tenancy agreements, bonds, databases and limit option fees will come into effect in July.
Refundable option fees for rental applications will be limited to either $50, for properties renting under $500 a week or $100 for properties renting below $1200 a week.
The options fees are charged to rental applicants and are often a week’s rent. They are refunded if the applicant is unsuccessful. Limiting the fees will allow renters to apply for multiple properties without incurring excessive fees.
All security bonds will be handled by a centralised body run by the Commerce Department instead of held in trusts by real estate agencies.
Property condition reports will now be compulsory at the end of each tenancy and landlords will be limited to four inspections per year.
Tenants will have access to tenancy databases which are used to check a tenant’s history with the ability to challenge inaccurate and outdated information.
And tenants will be able to seek emergency repairs where an owner has not taken action within 24 hours.
Commerce minister Michael Mischin says the laws will strengthen the rights of tenants and property owners.
“These changes were the result of extensive consultation with stakeholders and the community and will create a fairer rental market that balances the rights and interests of both tenants and property owners,” Mischin says.
The REIWA says told The Australian Financial Review they welcome the laws which strike the right balance between the interests of renters and landlords.
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New rental laws for WA landlords from July

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Sales activity in Perth’s housing market has returned to its 15-year average after three years of volatility.
Real Estate Institute of Western Australia data for the March quarter found that turnover lifted by 14% across the state during the quarter as consumer confidence returned to property.
The surge in sales saw Perth’s median house price rise by at least $5,000 and it will likely lift by up to $10,000 with late settlements.
It seems we have a new record for Perth’s median house price of $510,000, but it’s important to note that this is due largely to the composition of sales in which a greater volume of more expensive homes were being purchased.
Around the state some 13,200 properties changed hands, up from 11,600 in December and up by 12% on the same time last year.
Units, apartments and villas performed better than houses during the quarter, lifting by around $10,000 to a median of $425,000. This has been pushed along by strong first-home buyer activity.
The number of selling days has hardly moved and now sits at an average of 57, but the good news is that old stock which has been lingering on the market for a while is finally starting to shift.
However, the number of listings slumped to a relative low of 8,260 properties, given that around 12,000 is considered normal for Perth.
During the quarter half of all sellers were prepared to drop their asking price and of those who did the average gap between the asking and selling price was a drop of 5.6%.
This ‘seller sentiment’ has hardly budged over the last nine months but is to be expected given that the market has swung back to favour them.
We see this through the emergence of price-bidding and multiple offers and with some vendors exceeding their asking price.
The metropolitan rental market proved to be quite unusual during the quarter in that the vacancy rate rose but so too did median rents.
Normally the vacancy rate tightens during the March quarter which is a seasonal occurrence. It’s odd therefore that the number of available properties actually increased from around 2,400 properties in December to 3,200 in March and during the same period rents went up 4.4%.
Perth’s median rent is now at $470 per week which typically breaks down to $480 for a house and $450 for a unit or villa.
The large number of tenants ending their lease to buy their first home is contributing to the relaxing vacancy rate and I would not be surprised if rents come down in the June quarter.
Across regional centers REIWA found there was virtually no price movement during the quarter or over the previous year, however there are pockets of exception.
Of greater note is the lift in turnover experienced in several country areas.
Mandurah-Murray saw a healthy 40% lift in sales while Bunbury was more modest with turnover up by 8%.
Busselton, Dunsborough, Augusta and Margaret River all had a kick-up in turnover but based on sales of fewer than 100 properties in each region.
Albany saw a 7 per cent boost in sales while neighbouring Esperance looks to have had a whopping 50 per cent boost in turnover on early figures.
In Kalgoorlie-Boulder there was a healthy 13 per cent increase in sales, while in Geraldton and Greenough turnover was very flat with 120 homes sold in the December quarter and the same number sold in the March quarter.
In Broome there was little movement in turnover, while Port Hedland and Karratha showed no discernible lift from their lowest ever sales in the December quarter not experienced since the 1990s.
This shows how quickly markets can turn; just 12 months ago many commentators were lauding the performance of these two Pilbara centres.
Overall it has been a good quarter for buyers and sellers with most indicators continuing to point to a long term stabilisation.
REIWA agents are certainly reporting strong crowds at home-opens and multiple offers on well priced properties.
First-home buyer activity, however, appears to have peaked and has fallen to an estimated 26% of established dwelling sales. It looks like their enthusiastic rush into the market over the last year is now declining.
Even so, the healthy activity from new entrants to the market has been a terrific boost to trade-up buyers and generated a lot of sales activity among homes valued in the range of $600,000 to $800,000.
The winter months are traditionally more quiet in the market, so it will be interesting to see how sales and prices progress through to June. I suspect it will be steady and confident but with a softening around rents in some areas.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a> This article was originally published on <a rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Perth median house price rose in March quarter: David Airey

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WA's lowest earning postcodes are almost all within 250 kilometres inland from Perth, according to a Property Observer review of the Australian Tax Office's taxation statistics report 2010-2011.
We reveal the 10 post codes in WA with the lowest median income.
 
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="64">
<col width="456">
<col width="64">
<col width="145">
</colgroup>
<tbody>
<tr height="20">
<td height="20" width="64"></td>
<td width="456">Suburbs/Localities</td>
<td width="64">Postcode</td>
<td width="145">Mean taxable income ($)</td>
</tr>
<tr height="20">
<td height="20" align="right">1</td>
<td>Pantapin</td>
<td><a href="/news">6384</a></td>
<td align="right">7,679</td>
</tr>
<tr height="20">
<td height="20" align="right">2</td>
<td>Maya</td>
<td><a href="/news">6614</a></td>
<td align="right">10,956</td>
</tr>
<tr height="20">
<td height="20" align="right">3</td>
<td>Kulja</td>
<td><a href="/news">6470</a></td>
<td align="right">12,084</td>
</tr>
<tr height="20">
<td height="20" align="right">4</td>
<td>Karlgarin</td>
<td><a href="/news">6358</a></td>
<td align="right">22,748</td>
</tr>
<tr height="20">
<td height="20" align="right">5</td>
<td>Duranillin/Moodiarrup</td>
<td><a href="/news">6393</a></td>
<td align="right">26,266</td>
</tr>
<tr height="20">
<td height="20" align="right">6</td>
<td>Buraminya/Cape Arid/Israelite Bay</td>
<td><a href="/news">6452</a></td>
<td align="right">27,645</td>
</tr>
<tr height="20">
<td height="20" align="right">7</td>
<td>Cundeelee/Forrest/Parkeston/Rawlinna/Zanthus</td>
<td><a href="/news">6434</a></td>
<td align="right">27,671</td>
</tr>
<tr height="20">
<td height="20" align="right">8</td>
<td>Hines Hill</td>
<td><a href="/news">6413</a></td>
<td align="right">28,933</td>
</tr>
<tr height="20">
<td height="20" align="right">9</td>
<td>Kukerin/Merilup/North Kukerin/South Kukerin</td>
<td><a href="/news">6352</a></td>
<td align="right">29,404</td>
</tr>
<tr height="20">
<td height="20" align="right">10</td>
<td>Canna</td>
<td><a href="/news">6627</a></td>
<td align="right">30,105</td>
</tr>
</tbody>
</table>
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Pantapin tops WA's lowest earning postcodes with most clustered inland from Perth

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Affluent Perth suburbs topped the list of the highest earning Perth postcodes, according to a Property Observer review of the Australian Tax Office's taxation statistics report.
The top ten highest earning suburbs is topped by Peppermint Grove and Cottosloe but a few rural mining towns made it onto the list.
 
<table cellspacing="0" cellpadding="0" border="0" style="width: 470px;">
<colgroup>
<col width="64">
<col width="456">
<col width="64">
<col width="145">
</colgroup>
<tbody>
<tr height="20">
<td width="64" height="20"></td>
<td width="456">Suburbs/Localities</td>
<td width="64">Postcode</td>
<td width="145">Mean taxable income ($)</td>
</tr>
<tr height="20">
<td height="20">1</td>
<td>Cottesloe/Peppermint Grove</td>
<td align="right"><a target="_blank" href="/news">6011</a></td>
<td align="right">128,252</td>
</tr>
<tr height="20">
<td height="20">2</td>
<td>Mosman Park</td>
<td align="right"><a target="_blank" href="/news">6012</a></td>
<td align="right">117,397</td>
</tr>
<tr height="20">
<td height="20">3</td>
<td>Broadway Nedlands/Crawley/Dalkeith/Nedlands</td>
<td align="right"><a target="_blank" href="/news">6009</a></td>
<td align="right">116,819</td>
</tr>
<tr height="20">
<td height="20">4</td>
<td>City Beach</td>
<td align="right"><a target="_blank" href="/news">6015</a></td>
<td align="right">114,873</td>
</tr>
<tr height="20">
<td height="20">5</td>
<td>Manmanning</td>
<td align="right"><a target="_blank" href="/news">6465</a></td>
<td align="right">114,191</td>
</tr>
<tr height="20">
<td height="20">6</td>
<td>Claremont/Claremont North/Karrakatta/Mount Claremont/Swanbourne</td>
<td align="right"><a target="_blank" href="/news">6010</a></td>
<td align="right">98,694</td>
</tr>
<tr height="20">
<td height="20">7</td>
<td>Pindar</td>
<td align="right"><a target="_blank" href="/news">6631</a></td>
<td align="right">97,342</td>
</tr>
<tr height="20">
<td height="20">8</td>
<td>Dampier</td>
<td align="right"><a target="_blank" href="/news">6713</a></td>
<td align="right">91,051</td>
</tr>
<tr height="20">
<td height="20">9</td>
<td>Buntine</td>
<td align="right"><a target="_blank" href="/news">6613</a></td>
<td align="right">87,553</td>
</tr>
<tr height="20">
<td height="20">10</td>
<td>Daglish/Shenton Park/Subiaco/Subiaco East</td>
<td align="right"><a target="_blank" href="/news">6008</a></td>
<td align="right">85,994</td>
</tr>
</tbody>
</table>
</body></html>

At $120,000-plus, Peppermint Grove and Cottosloe top highest earning WA postcodes

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Perth’s median rent increased to $470 per week during the March quarter, a rise of 4.4%, despite the vacancy rate easing from 1.9% in December to around 2.3% in the March quarter.
Perth's rents are now up almost 12% on the same quarter last year, the Real Estate Institute of Western Australia said.
The median rent for a house stands at $480 and at $450 per week for a unit.
The REIWA president David Airey said the latest increase was surprising given that the number of properties available for lease increased by more than 50% in the six months leading up to March.
“Equally surprising was the rise in properties for lease through the March quarter itself because this is traditionally a period of high demand that usually causes a seasonal dip in the vacancy rate,” Mr Airey said.
The lift in asking rents during the March quarter was largely due to increases for flats, units, apartments and villas.
Perth's inner-city zone - within 10kms of the CBD - remains the dominant rental market as it includes about 85% of all multi-residential property in the metropolitan area, of which half is rental property.
The central sub-region saw a rise of $30 to a weekly median of $500.
The jump in the overall median for the central region and inner city area was largely driven by the western suburbs, City of Perth, Fremantle, Bayswater, Bassendean and south- east parts of the City of Stirling such as Tuart Hill, Yokine, Mount Lawley and Dianella, Mr Airey said.
The 9% increase in leases in the inner city areas was triggering a flight to outer suburbs by many tenants looking for more affordable accommodation, the REIWA suggested noting the south-east corridor through Gosnells had a 27% increase in demand which lifted rents 6% to $420 per week.
The REIWA analysis also suggested modest increase in demand for rentals across Perth was offset by properties being freed-up by first home buyers leaving the rental system for a home of their own.
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jchancellor-FAypfDUnLy

Perth weekly rents rise to $480 for houses and $450 for units: REIWA

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Port Bouvard Limited has entered a trading halt on the ASX today pending an announcement in relation to a potential project acquisition and placement of new ordinary shares in the company.
The company has suggested a recommencement in trading by Monday April 15.
Earlier this month the FKP-appointed Port Bouvard board member Winson Chow was named non-executive chairman of the developer.
The appointment came after interests associated with FKP executive chairman Lee Seng Huang, the Malaysian business tycoon, took control of the ASX-listed developer in a discounted $23.8 million capital raising during January.
In February the beleaguered property group posted a $4 million first-half loss with revenue down 97% to $877,000 after a restructuring to the Perth-based company.
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Perth's Port Bouvard eyes project acquisition

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The Perth property market is sending confusing mixed messages to sellers and buyers as it is operating at different speeds in line with asking prices, according to RE/MAX WA managing director Geoff Baldwin.
Baldwin says the local market is being driven by vigorous competition for properties under $600,000. 
Baldwin says this lower priced stock is attracting multiple offers and sale prices at or even over the asking price.
Attracting fewer and more circumspect buyers is property priced betweeen $600,000 and $1.5 million.
“The $600,000 to $1.5 million price range is starting to see the feed through from this activity however certainly at a slower pace and with buyers being a lot harder on price.”
Meanwhile, Baldwin says above $1.5 million, buyers remain few and far between and sales in this range are still tending to be heavily discounted when compared to the lower ranges.
Baldwin expects the Perth median price to start to push back up to or even beyond the previous record high, due to the frantic buying activity in the sub $600,000 market.
Earlier this week, the Real Estate Institute of WA (REIWA) reported that Perth's median house price reached a <a href="https://www.propertyobserver.com.au/western-australia/perth-median-house-price-rises-to-new-peak-of-%24510000-reiwa/2013040160114?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews" target="_blank">record high of $510,000 in the March quarter</a> surpassing the previous peak of $505,000 in the March quarter of 2010.
The REIWA reported that homes selling for $600,000 to $700,000 and those between $800,000 and $1 million represented around 20% of all sales during the quarter.
“Collectively and in most cases individually, RE/MAX WA offices have just recorded best quarter in the history of the group and there is no sign of this demand subsiding any time soon," says Baldwin.
“News of this renewed buyer interest is causing owners of higher priced properties to raise their expectations and in many cases stopping sales."
RE/MAX WA predicts that the higher priced market will slowly recover, as those in the lower ranges will eventually sell and buy up into better property.
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Perth property market operating at three speeds: RE/MAX's Geoff Baldwin

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REIWA’s March quarter data show that Perth’s median house price has reached a new record of $510,000.
The previous peak was $505,000 in the March quarter of 2010.
There has been a 2% increase on the median price from the December quarter, which has been driven by a lift in turnover and more sales activity above the median price.
Our preliminary data for the March quarter show that while the proportion of sales under $500,000 has fallen there was a marked increase in sales between $500,000 and $1 million.
REIWA data show that homes selling for $600,000 to $700,000 and those between $800,000 and $1 million represented some 20% of all sales during the quarter.
The $600,000 to $700,000 range was the most dominant price point above the median during this period and is a healthy illustration of consumer confidence through trade-up activity.
Despite a general downturn of sales under $500,000, those homes which sold for between $400,000 and $450,000 show a slight increase in turnover largely driven by strong first home buyer activity.
The $400,000 to $450,000 range was the leading price point in the overall market, representing 12% of all sales for the first three months of this year. Sales in this price range are turning over very quickly and the Office of State Revenue reports that in February the median purchase price for first home buyers was $425,000.
Flats, units, apartments and villas are more common in the central part of Perth and indicate a 10 per cent rise in sales during the quarter, suggesting an upturn with investor activity given that around half of all multi-residential property is tenanted.
Suburbs closer to the CBD also saw stronger sales activity during the quarter including within the cities of <a target="_blank" href="/news">Bayswater</a>, <a target="_blank" href="/news">Belmont</a>, <a target="_blank" href="/news">Bassendean</a>, <a target="_blank" href="/news">South Perth</a>, <a target="_blank" href="/news">Victoria Park</a> and the coastal strip in the City of <a target="_blank" href="/news">Stirling</a>.
These areas are all over the general median price and as such contributed to the overall lift in the market median.
REIWA’s preliminary data indicates that most local government areas have movements in median prices of plus or minus 3%, suggesting that the composition of sales is an influencing factor in the quarter with more expensive homes impacting on price movements.
Nearer to the CBD in the cities of Bayswater, Bassendean, Belmont and <a target="_blank" href="/news">Canning</a> where the supply of listings has tightened indications are a median rise of around 4 to 5%.
Increased sales activity was also reported in the more traditional first home buyer areas across the South East Corridor in the cities of <a target="_blank" href="/news">Gosnells</a>, <a target="_blank" href="/news">Armadale</a> and the Shire of Serpentine- Jarrahdale along with <a target="_blank" href="/news">Rockingham</a>, <a target="_blank" href="/news">Kwinana</a> and <a target="_blank" href="/news">Wanneroo</a>.
Reported land sales are also showing a 10% rise across the quarter.
The volume of land for sale remained relatively stable across the quarter at around 1,500 lots, while the total number of listings including houses, units and land have remained reasonably steady in recent weeks.
REIWA data show listings at around 8,500 properties after starting the year at 9,300.
The March quarter results show a buoyant market returning to more normal conditions on the back of solid population growth and a strong state economy.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank" rel="nofollow">Real Estate Institute of Western Australia.</a>This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" rel="nofollow">reiwa.com</a>.
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Perth's median house price hits a new high: David Airey

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Perth apartment values rose a noteworthy 5.3% in the space of a month to a median of $420,000, according to the latest RP Data-Rismark index.
This made it the top performing capital city housing market across both detached houses and units over March.
Perth's unit price gain over March was more than seven times the 0.7% gain recorded across all capital city unit markets.
In contrast Canberra unit values fell 2.5% over March to a median of $414,000.
According to RP Data, Perth units offer a  rental yield of around 5% with the highest potential returns in Darwin (6.3%), Canberra (5.6%) and Brisbane (5.6%).
 
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lschlesinger-FZcF9M3vE6

Perth unit values up 5.3% in a month: RP Data

<html><body>
Perth's median house price reached a record high of $510,000 in the March quarter, according to data by the Real Estate Institute of Western Australian (REIWA).
The previous peak was $505,000 in the March quarter of 2010.
This is a 2% increase on the median price from the December quarter. 
Homes selling for $600,000 to $700,000 and those between $800,000 and $1 million represented around 20% of all sales during the quarter.
“Our preliminary data for the March quarter show that while the proportion of sales under $500,000 has fallen, there was a marked increase in sales between $500,000 and $1 million,” says REIWA president David Airey.
“The $600,000 to $700,000 range was the most dominant price point above the median during this period and a healthy illustration of consumer confidence through trade-up activity,” says Airey.
The $400,000 to $450,000 price point represented 12% of all sales for the first quarter, according to the REIWA.
“Sales in this price range are turning over very quickly and the office of state revenue reports that in February the median purchase price for first home buyers was $425,000,” says Airey.
Flats, units, apartments and villas recorded a 10% rise in sales during the March quarter.
Suburbs closer to the CBD experienced stronger sales during the quarter including the suburbs of Bayswater, Belmont, Bassendean, South Perth, Victoria Park and the coastal strip in the City of Stirling.
“These areas are all over the general median price and as such contributed to the overall lift in the market median,” says Airey.
Increased sales activity was also recorded in the more traditional first homebuyer areas, including the southeast corridor in the cities of Gosnells and Armdale.
Land sales were up 10% over the quarter and the volume of land for sale remained stable.
“The March quarter results show a buoyant market returning to more normal conditions on the back of solid population growth and a strong state economy,” says Airey.
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