Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.

That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.

<h3>Problem solved with Parcel Lockers</h3>

The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.

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The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.

<h3>How Parcel Lockers work</h3>

The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.

Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.

<h3>The scale of the network</h3>

This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.

Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.

<h3>What it means for developers and building operators</h3>

A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.

Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.

While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.

For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.

<h3>Who's using them</h3>

Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.

Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.

<h3>The bigger picture</h3>

Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.

As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.

How Australia Post is solving the parcel problem for apartment living

<html><body>
Property investors who borrow through their self-managed super funds to acquire a property will be allowed to undertake some improvements following the release of a final ruling by Tax Commissioner Michael D'Ascenzo. 
The new ruling clarifies what constitutes an allowable repair or maintenance of a property acquired by a SMSF under limited recourse borrowing rules. 
Under the ruling SMSF investors would be allowed to extend their property; add a swimming pool; extend an outdoor entertainment area; and add a garage shed and driveway without breaching borrowing rules. 
“While each of the following changes would be improvements each (or all) of the changes would not result in a different asset,” says the ATO. 
Under previous guidelines issued in July 2010 a renovation was not allowable if the renovation changed the asset so that it was no longer the same asset that was originally purchased. 
The guideline resulted in much industry concerns about the guidelines resulting in a draft ruling in September last year and the final ruling issued yesterday by D'Ascenzo. 
The final ruling distinguishes between repairs as “something that reinstates the function of the asset compared with an improvement that improves the asset,” says Andrea Slattery of industry body the SMSF Professionals' Association of Australia (SPAA). 
“Where the improvement is significant then it is possible the nature and function of the asset that was originally acquired has changed materially to the extent that a new asset has come into existence. 
“The examples provided in the ruling help to clarify what constitutes a significant improvement. 
“It makes it clear that the amount borrowed can be used to repair the asset but where there is an improvement the cost must be obtained from other sources, such as the super fund,” she says. 
Examples include where a 'granny flat' is to be constructed in the backyard of a property that already has a four-bedroom residence established on it. 
“The granny flat will have two bedrooms, a family room, a kitchen and a bathroom and will be connected to utilities such as electricity, water and sewage.
“The character of the asset would remain residential premises and thus the construction of the granny flat would not result in there being a different asset,” says the ATO. 
Another example the ATO gives is of a residential house that is converted into a restaurant by renovations that include fitting out a fully functioning commercial kitchen. 
“As a result of the renovation the character of the asset has fundamentally changed from residential premises to restaurant premises. This is a different asset,” says the ATO.
The other examples provided are:
<ul>
<li>A vacant block of land is subsequently subdivided resulting in multiple titles. One asset has been replaced by several different assets as a result of the subdivision. 
</li>
<li>A residential house is built on vacant land which is on a single title. The character of the asset has fundamentally changed from vacant land to residential premises. This is a different asset. 
</li>
<li>A house is demolished following a fire and is replaced by three strata titled units. The character of the asset has fundamentally changed along with the underlying proprietary rights. This has created three different assets. 
</li>
<li>One bedroom of a residential house is converted to a home office. This would not ordinarily result in a change in the overall character of the asset as a residential house. The conversion of the bedroom into an office does not result in a different asset 
</li>
<li>Fire destroys a four bedroom house and a new superior residential house is constructed on that land using both insurance proceeds and additional SMSF funds. Rebuilding another residential house (whether of the same size or larger) does not fundamentally change the character of the asset held under the LRBA. The addition of a garage, for example, would also not change the character of the asset. 
</li>
<li>To allow a road to be widened, a local government authority undertakes the compulsory resumption of a minor portion of the frontage of a property which has a residence on it. While the resumption results in the existing property title being replaced, the minor extent of the resumption is such that the fundamental character of the asset, taking account of not only the proprietary rights but also the object of those proprietary rights, remains that of being the residential property. </li>
</ul>
You can download the Self Managed Superannuation Funds Ruling SMSFR 2012/1.
<a href="http://propertyobserver.com.au/ebooks/16-questions-self-managed-super-fund-trustees-should-ask-before-investing-in-property" target="_blank">For more on property investors and SMSF, download our free eBook.</a>
For end-of-year tax tips for property investors, watch our free webinar.
 
 
 
 
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ATO ruling specifies allowable repairs and renovations for SMSF property investors

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Mirvac's 46-townhouse development Laureate in Albert Park, set in gardens designed by <a target="_blank" href="https://www.e-ga.com.au/">Eckersley Garden Architecture</a>, has won the HIA's 2012 townhouse/villa development of the year. 
<img src="/images/stories/laureate1.jpg">
The $90 million project was completed in early 2011 on its 8,144-square-metre site opposite the <place><placename>Gasworks</placename><placename>Arts</placename><placetype>Park</placetype></place>. 
They were marketed as a modern twist on the Victorian terrace. 
Set among textured and patterned plants, vines and trees, the site is bordered by Pickles, Graham, Foot and Dank Streets. 
<img src="/images/stories/laureate2.jpg">
Spanning three and four levels, the townhouses ranged in size from 164 square metres internal space to 320 square metres plus. 
Some 85% of the townhouses were sold off the plan. 
Mirvac is currently advertising its last townhouse priced at $1,799,000. 
There are other on sale listings including one at $1,899,000 for a four-bedroom townhouse through RT Edgar.
 
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Mirvac’s Albert Park townhouse development Laureate wins laurels at HIA awards

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It would be easy to outline the physical and emotional effects skyscrapers and the surrounding density of concrete tend to inspire. To start with, when you fly into a city, a wide array of high-rise accommodation and office buildings is immediately indicative of wealth and prestige. Like the axel of a wheel, the concrete jungle is where the power is concentrated – the heartbeat of the city. As many regional areas will attest, capital cities are top on the priority list when it comes to providing amenities, transport facilities, medical centres and so forth.  All too often, those living in the center of it all tend to forget a life exists outside the city boundaries at all.
The crunch always comes down to “sustainably” managing population growth and the quandary of squashing ever-increasing numbers into our growing metropolises. Urban developers seem obsessed with the notion of building high-rise concrete jungles or at the very least, limiting development to apartment living or high-density housing. It may seem like an obvious solution – it certainly does if you’re sitting behind a desk with a calculator in hand, because it’s argued that building high is more economically viable than creating new infrastructure in the outer suburban peripheries. “Happiness economics: clearly doesn’t feature high on the priority list.
I recently read a <a href="https://bit.ly/K263vD">report</a> on the value buyers place on having a garden. In the study, it’s claimed that some families would spend up to an extra $75,000 to get a private bit of “green” around their properties.  My reading of the findings followed a question I’d be asked by a reporter researching the notion of gardens and their place on a buyer’s priority list. As with all equations, the crunch ends up in the dollars you spend. With land values increasing in inner-urban zones, outdoor spaces are decreasing and the modern preference – even in outer-suburban new estates – is to go low maintenance and build to the boundaries. After all, Australian’s still beat the world record for desiring homes with the largest floor space per capita. For many, a bigger block of land is only used as a key to a bigger and better house.
Yet, probably one of the best Australian “inventions” was the old suburban home, primarily made familiar to those of us who emigrated to the country because of programs such as Home and Away and Kath and Kim. A house in the burbs with an ample backyard for the kids is the foundation of what was once called the great Australian Dream. In fact, the quarter-acre block – which eventually became the  eighth of an acre block – was a great ecologically friendly model, and it all came down to the backyard.  The backyard was used for growing food, disposing of waste, socialising with neighbours, playing and enjoying a good dose of vitamin D from the glorious Aussie sunshine. Considering our modern push to look after the environment, it’s surprising a decent-sized backyard does not feature higher on the priority list with planning authorities, who tend to allow housing in new suburban estates to take up larger footprints leaving no more than a walkway of paved private outdoor space.
It was an early report from the Grattan iInstitute that coined the phrase <a href="https://bit.ly/K26Z32">“The virtues of suburbia may yet turn out to be the saving of our cities”</a>.  In the report, it points out how the foundations of living sustainably from private land surrounding the home have eventually broken down to a form of inner-city dependency on outlets such as Coles and Woollies.  It’s not just the idea that a garden enables families to produce food, collect water from a rain tank, or dispose of rubbish in the compost heap. It’s the fact that backyards promote health benefits that are hard to emulate in a public park (if you’re lucky enough to live near one) and with our busy urban lifestyles, even the local park doesn’t often feature unless you own a dog or have children who make use of the facility.
I shouldn’t need to point out the benefits of a garden.  From a personal perspective, I feel as if I grew up in a garden – I spent more time outdoors than indoors during summer months. Flowers are just about the most beautiful phenomenon nature produces – internationally symbolic of love, sympathy, beauty, celebration and commiseration. The land is where we get our food, but the concrete jungle is where we “grow” children who have no idea if a potato comes from underground or off a tree. Living in a city is dynamic, convenient, exciting and yet without a balance – the pace of inner-city life is exhausting, polluting, frustrating and draining. The health benefits that can be obtained from a private garden –social, physical and mental – would be too numerous to list.
It’s been argued on many an occasion that buyers prefer apartment living.  Apparently the ageing population want to downsize, there are increasing numbers of single-person households, and the persistent desire to live in the inner-urban localities all equates to a ‘new Australian dream’ no longer founded in a detached dwelling. However, aside from the additional costs selling and buying can impose, there’s good reason why many older baby boomers choose to hold on stubbornly to their detached family homes.  According to a report <a href="https://www.grattan.edu.au/publications/091_cities_report_focus_group.pdf">‘Project New Home’ </a>commissioned by the Grattan Institute mid-last year researching Australian’s “housing preferences.” Even taking into account changing lifestyles, detached homes are the preferred option of our buying market, whether old or young. The report outlines:
“Associations with small spaces are still predominantly negative – with ‘the average’ apartment representing the most challenging end of the spectrum.  Although there is a realisation that available land is shrinking and we, as a community, need to be ‘smart’ about housing options of the future – there are strong rational and emotional drivers that still fuel the preference for detached housing…
“Owning a fully detached home is expected (particularly for families), it is part of building a life, something that is earnt and relished and the best property option 
- Outside of the pull to detached houses are the push factors away from attached homes of which ‘neighbours’ is the major barrier.”
In short – an apartment may be where we start, but it’s not where most want to end up.  Aside from the convenience of being close to an inner-urban locality, concerns with neighbours, owner’s corporations, privacy, lack of outdoor space and so forth, put a large majority of maturing buyers off the idea all together. The apartment market is viewed as a place where most people rent or stay for a temporary period of time – generally not considered suitable for family life.  It’s probably for this reason, along with pressures of affordability, that the major part of <place><state>Victoria</state></place>’s growth has been evidenced in fringe localities such as Wyndham, Melton and Whittlesea. However even in these areas, such is the price of land, when it comes to building, buyers push to the extremes of development. If you can squash a four-bedroom house on a block rather than comfortably fitting a three-bedroom home, it seems a better investment idea to do so (it certainly does to developers who can charge more for the former).  The bigger the house, the more the on-sale value – land is only valuable in many investor’s eyes if you can build on it.
 
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One of the benefits of increased density (it’s argued) has been the notion that it reduces pollution from people commuting across town to access jobs and other facilities.  However there’s little evidence to support this, although living closer to the city may encourage increased use of public transport, our car dependent life styles and inefficient public transport systems, ensure traffic congestion and urban pollution continue to rise.  Not only this, but any notion that apartment buildings are environmentally friendly has been put to bed by many organizations such as “<a href="https://www.population.org.au/">Sustainable Population Australia”</a> who have reported;
“Studies have shown that high-rise housing increases per-capita greenhouse gas emissions by up to 30% due to a total reliance on power, switches and being unable to enjoy the natural cooling of shady trees and living sustainability. Department of Planning and EnergyAustralia study (NSW) and the ACF Consumption Atlas show high-rise buildings emit more greenhouse gases per dwelling and per person than smaller blocks of flats, townhouses or detached homes”
Of course,<a href="https://bit.ly/K27OJh"> Harry Triguboff</a> managing director of property group Meriton, states that:  
“Councils think that people care whether there are tall buildings or lower buildings. People who buy the apartments prefer taller buildings because they allow more light and afford views and are cheaper to run than lower ones – which require more lofts, more stairwells, and more security, all adding to the upkeep.”
This is predictable, but quite astonishing.  The costs of running high-rise buildings alone are tremendous when you take into account features such as lifts,  electric security gates, lighting, heating of common areas and so forth – not to mention the footprint incurred from so many individual apartments each running a separate fridge, air-conditioner and plasma TV. I’ve not been through one yet that boasts a solar panel to reduce electricity costs. To have the luxury of light and a view adds to the expense and yet there is rarely a guarantee the view won’t be built out.  
All of this is evidenced the stark difference in the yearly owners' corporation fees of high-rise verses low-rise, which can add up to thousands.  Furthermore, to keep development costs down, a balcony is becoming somewhat of a dying luxury.  The above quote of $75,000 extra for a garden is a little over what the average buyer would shell out for the luxury of a medium-sized balcony on one of these inner-city apartments.  A wide expanse of heat-producing concrete increases the environmental footprint.  However all this aside, as the original design of the "garden city" proves you can have high-density housing on a smaller footprint of land and still retain lawn space around the buildings, thereby maintaining the streetscape and environmental benefits.  However, it does require double-storey living.
We’re lucky in Australia because early planners had the foresight to provide abundant park land in each inner-suburban locality.  It’s still possible to look out over our cities and take in an abundance of "green".  However, for how long is debatable – London, which has an estimated population of around 8 million (a number that metro Melbourne is prospected to achieve around 2050) used to hold the reputation of “of being one of the world's greenest cities because of its extensive public parks and gardens. However a recent report by the <a href="https://bit.ly/K288HW">London Wildlife Trust</a> has shown Londoners are paving over gardens to avoid maintenance costs associated with gardening in some cases using the area as an extra parking lot at – according to the study – an "alarming" pace.  According to the report “an area of vegetated garden equivalent to 21 times the size of Hyde park was lost between 1998 and 2006” simply through the demise of the private backyard.
This kind of transition is not limited to London – it’s a worldwide phenomenon.  Modern lifestyles don’t leave time to tend a garden or grow food – after all, it’s argued that Australia has the world's hardest workers – tending a garden is therefore a luxury reserved for those who are retired. In his excellent publication “<a href="https://bit.ly/K28bne">The Death of the Australian Back Yard</a>” Tony Hall argues that the change from backyard culture has “has not been subtle or gradual in either space of time”.  It’s an excellent paper and well worth a read.  In it he demonstrates, through time-lapsed aerial shots, how our living preferences have altered.  Even though there’s still evidence of healthy interest from much of the population in gardening, it’s the renovation shows that dominate the media and keep the focus on the interior.  A low maintenance garden is a selling point in a modern home; a big back yard is simply an area holding development potential.
The loss or demise of the domestic backyard has an effect far beyond that of the individual household.  Issues such as the loss of biodiversity in plant species, the loss of areas of land in which to soak up rainfall, not to mention the role gardens play in micro climate control and combating carbon dioxide and various other pollutants permeating the air.
Whilet there is no doubt the push towards urban consolidation is an inevitable consequence of our population growth and changing cultural shift, we’re certainly not healthier for it – and many would argue that neither are we happier for it. First home buyers have increasingly limited choices when it comes to housing options, and for those that do settle in inner urban areas - as a recent report from the Grattan Institute entitled <a href="https://bit.ly/K28dvm">‘social cities’</a> highlights – there’s a  worrying increase in social isolation and loneliness due to residential seclusion. It’s impossible to improve the situation without active communication with local residents.  Therefore, power needs to be placed in community hands to decide what’s needed in each locality – whether it be a communal garden, ‘pocket park’, games room, or some other form of meeting place. High density planning should have a requirement to make room for some form of freely accessible social interaction.
While gardens may be looked upon as high maintenance and a private area of green space may not be in vogue or high on developer’s priority list, it is down to our urban planners to ensure we don’t lose the joy of an area of green lawn and maturing trees all together.  Australia has an abundance of land for everyone to spread out and enjoy the joys of nature if only more effort and expense was dedicated to the development of industry, transport arterials, and growth in the smaller "satellite" cities and regional centers.  As it stands at present, we’re losing a part of Australian culture that cultivated an ingrown appreciate of "the land".
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on The <a href="https://ten.com.au/the-circle.htm">Circle</a> and a senior consultant for <a href="https://www.nationalpropertybuyers.com.au/">National Property Buyers</a> servicing the needs of property owners Australia wide.
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The disappearing Aussie backyard and its emotional, physical and mental toll

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A Victorian pavilion-style house – mostly hand-built from raw materials including recycled spotted gum and blackbutt posts – has won the 2012 HIA-CSR Australian Home of the Year in the HIA-CSR Australian housing awards.
<img src="/images/stories/hiahomeofyear1.jpg">
The winner – located at Red Hill South on the Mornington Peninsula – was selected from a list of state-based finalists.
F &amp; J Sanders Builders Pty Ltd took out the top award, winning the 2012 HIA Australian Home of the Year.
It also won the award for the Australian Custom-Built Home of the Year in the $1 million-plus category.
The judges were impressed with the pavilion-style house, noting its mix of energy efficiency and luxury.
Spread over three levels, the home has expansive open plan living, with polished concrete flooring throughout.
<img src="/images/stories/hiahomeofyear21.jpg">
There are four bedrooms with balconies, study, rumpus room, four bathrooms plus a separate powder room, plant/service room, three-car garage and outbuilding.
There is a large undercover barbecue pavilion with in-ground pool.
The judges concluded the design of the home allowed it to feel light and airy, especially as open windows maximised the views.
Its energy and environmental features included state-of-the-art sustainable technologies allowing it to be virtually self-sufficient.
It came with geothermal technology along with LED lighting, a sewage treatment plant, three 86,000-litre concrete water tanks, solar hot water, and 4.7kw solar panels.
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Mostly hand-built Mornington Peninsula home takes out top gong at HIA-CSR awards

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An Australian draftsperson and building product developer has teamed up with an eco-architect to produce an iPhone app to gauge the green credentials of properties.
<a target="_blank" href="https://ecoeasy.com/">Eco Easy Home</a> was quietly released in early March with a feature set to rival a full assessment by a sustainability consultant.
The app uses a variety of assessing factors to allow users to work out how green a house is.
One feature developer John Civijovski is particularly proud of is the alignment tool. The feature lets users work out just how north-facing a property is as it tracks out the future movements of the sun. The information gleaned from this tool lets users calculate the solar gain of a particular property.
“Being able to locate homes with a northern orientation is totally new. A tool like that just doesn’t exist,” Civijovski says.
“You can move the sliding guides and pinpoint homes quite neatly.”
The rating system of the app asks the user a series of questions to let the app assign a value score to a house.
Civijovski says he initially wanted to help people find the thermal strengths and weaknesses of a house, particularly for those don’t know where to start.
“You don’t have to know anything about energy efficiency.”
“It’s a complex area, but we have broken it down into a simple interface that anyone can use. If you use it regularly, you will become familiar with jargon like orientation, insulation and thermal mass, and eventually become an energy-efficiency expert.”
The app intersperses information on energy efficiency with an aim to educate users as they use the tool.
“If you’re looking at buying a home and you’ve narrowed it down to two or three you can make comparisons using Eco Easy Home about which has better opportunities. One might be better in winter while that’s better in summer.”
Civijovski worked with architect Gareth Cole, an architect and public speaker on sustainable design. He has worked as an architect for 30 years and runs The Ecologie Group Architects, which specialises in passive solar design, solar systems, energy efficiency and sustainability.
For more <a target="_blank" href="/news">on online tools for property investors, sign up for our free webinar this Thursday, May 17 at 12.30pm.</a>
 
 
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How green is my home? Eco Easy Home app has the answer 

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Gone are the washing lines, and unsightly water tanks are banished behind architecturally designed screens. Rooftop gardens are almost de rigour in new apartment blocks.
Property developers are creating park-like green spaces on their residential buildings to attract buyers with the promise of an exclusive community.
<img src="/images/stories/roofbravo.jpg">
Carlton’s $65 million Bravo residential project will turn its roof (pictured above) into a stylish space with outdoor lounges, entertaining areas, flower gardens and a vegetable patch with knockout views of Melbourne. It’s costing the developer a cool $500,000.
“Carlton has a strong identity and community spirit; therefore it was important to reflect this by democratising the views with communal rooftop gardens. Using the area simply for rainwater collection would have been a waste,” says Bravo developer Matt Vaughan.
Given that <a href="https://www.propertyobserver.com.au/developments/carlton-parkside-project-bravo-sells-24-apartments-in-first-three-weeks/2012042054370">24 apartments in Bravo sold off the plan in the first few weeks of marketing</a>, a nice rooftop might be a big drawcard.
<img src="/images/stories/roofsouthyarra.jpg">
In South Yarra Icon Properties’ $35 million See Apartments, the $300,000 rooftop garden (pictured above and three below) is such a hit that residents must reserve a portion for private parties.
<img src="/images/stories/roofsouthyarra2.jpg">
The garden has great views, covered and open-air entertaining areas, a built-in barbecue with food preparation benches and a sink. There is even a gas-log fire. It instantly became so busy that the owner’s corporation created a reservation system so a section can be divided off for private events.
<img src="/images/stories/roofsouthyarra3.jpg">
“We wanted to move away from the typical gym and provide an extended outdoor living and entertaining space that residents will actually use,” says ICON director Ashley Murdoch.
<img src="/images/stories/roofsouthyarra4.jpg">
In Sydney the trend to rooftop gardens is long established, with the Hayson Group creating a huge 2,800-square-metre garden in its M Central complex in Pyrmont back in 2005. Internationally acclaimed Sydney-based landscape architect Daniel Baffsky planted native grasses, succulents, mature trees, vine arbours and installed boardwalks, water features and art pieces. Residents even walk their dogs there.
A green rooftop not only has cultural cachet, it has green credibility, with grass extracting pollution particles from the air. They can be largely watered from harvested rainwater.
In a competitive market it’s wise to stand out from the pack, with Frasers Property and Sekisui House Australia’s $2 billion <a href="https://www.propertyobserver.com.au/new-south-wales/time-running-out-for-stamp-duty-free-purchases-at-sydneys-central-park/2012030653714">Central Park project in Sydney’s Chippendale</a> integrating large green spaces on the 5.8-hectare site and capping the second phase – Park Lane – with a lavish gardens.
The developer secured the skills of Danish landscape architect Jeppe Aagaard Andersen to design communal rooftop gardens with themed rooms with unique uses. There will also be outdoor spas, barbecue facilities, tables and seating. Residents – there will eventually be 2,500 of them – will be able to collect and even plant their own herbs.
<img src="/images/stories/roofrozelle.jpg">
The controversial multi-tower $300 million Rozelle Village proposal in Sydney is going all out with its $2.3 million residents’ rooftop (architect's impressions above and below).
Design director Frank Stanisic of Stanisic Associates Architects aims to create a 5,000-square-metre leisure garden with a full-sized tennis court hidden behind a six-metre high, planted green screen. A tall green wall of vegetation will also surround the indoor-outdoor pool. There will gardens, green space plus decking, seating and barbecue areas.
<img src="/images/stories/roofrozelle2.jpg">
Managing director of the project Ian Wright says the user will absorb the running costs.
“The residential strata body will have a sinking fund that will reflect the amenities, however, the demographic of the people expected to buy there will accept that as a lifestyle choice.
“You can’t live so close to the city and have all of these suburban-style facilities without having to pay for it,” says Wright.
 
 
 
 
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Rooftop gardens bringing communal park life to inner-city developments

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A former 89-hectare turf farm in Burbank, Queensland is being converted into eight separate six-hectare blocks of land aimed at prestige buyers called Araluen Estates.
<img src="/images/stories/araluen1.jpg">
The lots will be $2.5 million each, and they are set to go on sale before next Friday. There has already been significant pre-registration interest from buyers seeking absolute privacy, peace and quiet.
<img src="/images/stories/araluen2.jpg">
“The quality of life here is exceptional,” says owner Robert Greasley, who has lived on and managed the turf farm for the past 24 years.
“You are a million miles from mediocrity and just 20 kilometres from Brisbane CBD. The furthest house lot, within the estate, is over a kilometre from Ford Road. That makes for a private and very quiet environment with an abundance of wildlife.”
<img src="/images/stories/araluen3.jpg">
The turf farm produced the specialist Wintergreen Couch grass, which is used for golf courses, for 30 years, and Araluen Estates has the gently rolling topography of quality golf courses.
<img src="/images/stories/araluen4.jpg">
The majority of Araluen Estates will comprise natural environment, with multiple lakes, parklands and bush. It is in the Priest Gully wildlife corridor.
<img src="/images/stories/araluen5.jpg">
“The quality lifestyle within the development is magnificent. The lakes are within the body corporate and contain Australian bass and silver perch. There are also bush trails around the lakes, Priest Gully and through the nature reserves,” says Greasley.
<img src="/images/stories/araluen6.jpg">
The building envelopes for each estate are 5,000 square metres, and there are no building covenants.
<img src="/images/stories/araluen7.jpg">
Despite the seclusion, Araluen Estates is three kilometres from the outer-Brisbane suburb of Rochedale, which is growing rapidly and has amenities such as shops, schools and medical centres.
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Brisbane fringe turf farm transforming into prestige housing community

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With a display village that includes the Kimberley Zero home, designed to have zero carbon emissions, Mirvac’s Harcrest project in the outer-Melbourne suburb of Wantirna South has proven attractive to buyers. 
<img src="/images/stories/harcrest1.jpg">
Some 175 plus lots have been sold since the master-planned community launched in late February. There are currently 23 lots available in the first two sections, Village Square and Garden Grove.
The 56.2-hectare Austral Brickworks site is being converted into a master-planned community with a focus on sustainability, and the 840 lots will eventually be home to more than 2,000 residents.
<img src="/images/stories/harcrest2.jpg">
Lots range in size from 392 square metres to 477 square metres and in price from $380,000 to $499,000. Mirvac house-and-land packages are also available, with prices starting from $505,000. There are currently 13 turn-key homes available.
The median house prices in <a target="_blank" href="/news">Wantirna South</a> is $545,000, according to RP Data, and median house prices fell 2.3% last year.
Mirvac communities CEO Matthew Wallace says the project sought “efficient use of land, maximising solar penetration, privacy, backyard and internal living spaces”.
<img src="/images/stories/harcrest3.jpg">
The Mirvac homes available (pictured above and below) have six-star green environmental ratings, and the community will make use of water reclaiming and reuse.
<img src="/images/stories/harcrest4.jpg">
The development is set to feature 6.8 hectares of open space, including wetlands.
Wallace says the sustainable technology featuring in Kimberley Zero home can be incorporated into new Mirvac homes.
“The net zero carbon home sets a new benchmark for sustainable community living,” Wallace says.
The retail precinct within Harcrest includes an IGA supermarket and specialty shops, and the development is close to Knox City Shopping Centre, bus and tram routes and the Burwood Highway. It is about 35 kilometres east of Melbourne.
 
 
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Near 90% of lots sold in first release of Wantirna South project Harcrest

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The location of the long-running television series A Country Practice is being subdivided for house-and-land packages.
And one buyer in JPG Property’s Pitt Town land release on the north-west outskirts of Sydney will win a lot for free once all 31 lots in the latest Fernville release are sold.
It’s a one-in-31 chance of winning back the outlay spent on a block valued somewhere between $358,000 and $501,000 in a marketing stunt by JPG founder Keith Johnson, who said he was trying to stimulate the market.
“People say they will buy, but there is no urgency,” he says, adding that the block prices had already been cut by $100,000 to $200,000.
“We are trying to create some urgency. And we need cashflow,” he told the Australian Financial Review.
<img src="/images/stories/vermont.jpg">
The project, called Vermont Living, will consists of about 1,000 lots, including its Riverland and Bona Vista releases, set on the Hawkesbury River about 58 kilometres from the Sydney central business district.
Johnson says the project is pitched at second-home buyers from the nearby Hills District.
Lots range in size from 550?square metres to 1,543 square metres, which Johnson says are being sold “without much margin”.
<img src="/images/stories/vermont2.jpg">
Johnson estimates each block had already accrued $15,400 in land tax, another $25,700 in infrastructure charges by the local Hawkesbury City Council and $50,000 in charges by NSW government instrumentalities.
Already 130 homes have been built in the project, which took?about 15 years to gain rezoning.
“There is a lack of confidence in the federal government and in the state government,” Johnson says.
 
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Free Wandin Valley building block giveaway to prompt Pitt Town buying urgency

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Buying inquiries from renters for Stockland house-and-land packages have doubled over the past two years.
“Renters are tired of renting – they want to own their home,” Stockland managing director Matthew Quinn says.
“Incomes are growing faster than house prices.
“The cost differential between renting and owning has narrowed,” he notes.
“We have moved from a housing crisis to a rental crisis,” Quinn says.
"They are literally sick of renting. These renters are paying a high price for a second-rate product,” he says.
“Buyers will take what they need, rather than buying the dream.”
He says April house-and-land package sales jumped back to 400 plus, up from the 300-plus figure in March that had prompted its recent outlook update.
But hollowing any sustained interest rate reductions, he says a big swing factor was possible in the renter-turned-first-home buyer market.
“They are very interest rate sensitive.”
Stripping out the GST and GFC, Quinn notes that new home sales are at 18-year lows, based on the HIA data.
Click to enlarge
<a href="/images/stories/stocklandmay12.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/stocklandmay12thumb.gif"></a>
He notes the mid-1990s downturn came from over building and rising interest rates.
“We don’t expect any government stimulus, nor do we think there should be any,” he says.
“We expect a steady recover rather than a V-shaped recovery.”
He says Stockland would see the major benefit in 2014 rather than 2013.
“We can’t be a slave to monetary policy.
“We have to take control of the situation ourselves by driving affordability, and that strategy is working well for us.”
“The mood and the market can turn quite quickly particularly when we have a high pent up demand, with house prices stable and rents going up.
The comments were part of an investor briefing where Stockland confirmed it was on track to achieve its recent guidance for the 2012 financial year.
Click to enlarge
<a href="/images/stories/stocklandmay13.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/stocklandmay13thumb.gif"></a>
Quinn says although the new housing market is at a cyclical low point, Stockland is on track to settle around 5,000 lots for the year.
This is about the same as in the 2011 financial year.
Having completed a review of carrying values, Stockland identified impairments on five projects totalling $48 million, or 2% of total book value.
The impairments are primarily at lifestyle projects, reflecting price pressure at the top end of the market, Quinn says.
Quinn says Stockland carries its residential inventory at the lower of cost or net realisable value.
“Overall our land bank is in very good shape,” he says.
Quinn notes signs that the residential market is nearing the bottom of the cycle, with building approvals close to a cyclical low.
“Sentiment towards home buying follows interest rates, and we expect to see an increase in demand in our residential business if interest rates come down sufficiently.
“It will take a fall of at least 50 basis points to make a real difference to buyer sentiment,” Quinn says.
“Even with no improvement in market conditions, however, we are well placed to deliver 6,500 lots in financial year 2015 based on our strong existing pipeline of affordable communities.
“And there is significant further potential upside as market conditions improve.”
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