In a significant policy move aimed at stimulating the property market, the Victorian government has announced a major reduction in stamp duty for off-the-plan apartments, units, and townhouses.

Effective from October 21, 2024, the expanded concessions will apply to all eligible off-the-plan purchases and will remain in place for one year.

This initiative, designed to address the state’s housing affordability crisis, opens a window of opportunity for prospective buyers, particularly investors and owner-occupiers, to secure substantial stamp duty savings.

Key Changes to Stamp Duty Concessions

Previously, stamp duty on off-the-plan purchases was calculated based on the total price of the property, including the construction value. Under the new scheme, stamp duty will be calculated solely on the land value before construction begins. This shift in policy significantly reduces the financial burden for buyers, particularly in metropolitan areas where property prices continue to rise.

For example, a Victorian purchasing an off-the-plan apartment valued at $620,000, with the land component valued at $77,500, will now pay just $4,000 in stamp duty—down from $32,000. This $28,000 saving represents a significant reduction in upfront costs for property buyers, potentially unlocking the market for a wider demographic.

The changes also eliminate the previous cap on concessions, expanding eligibility beyond first-home buyers to include any purchaser of off-the-plan apartments, units, or townhouses within a strata subdivision.

<a data-entity-type="file" data-entity-uuid="69bb2163-758b-4133-85ae-a669cf3061bb" href="https://www.urban.com.au/developments/melbourne-vic"><img alt="Search New &amp; Off-the-Plan Property across Victoria" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-21%20at%208.49.26%20am.png?VersionId=tO1ATB0FSWLbOgFkHuqwpy6iUKclkflP" /></a>

Who Benefits from the Scheme

The new stamp duty concessions are aimed at boosting sales in Victoria’s off-the-plan sector, which has been slowing due to high taxes and market uncertainty. The scheme covers properties that are part of a strata subdivision. However, it excludes house and land packages or dwellings not part of a strata subdivision.

Existing concessions for first home buyers remain unchanged. Homes valued up to $600,000 will continue to benefit from full stamp duty exemptions, and concessions apply to properties valued up to $750,000.

A Limited-Time Opportunity for Buyers

The stamp duty concession is a time-sensitive initiative, with the expanded benefits available only until October 21, 2025. Buyers who are considering entering the market are urged to act promptly to take advantage of the scheme, as the concession will revert to its previous structure after this period.

For developments currently under construction, buyers are also eligible for reduced stamp duty, although the exact savings will depend on how much of the construction has been completed at the time of purchase.

Impact on the Market

The Victorian property industry has long advocated for a reduction in stamp duty, arguing that the high upfront cost has acted as a deterrent for both buyers and developers. By lowering these barriers, the government aims to revitalise the market, particularly in Melbourne, where apartment supply has struggled to keep pace with demand.

The concessions are expected to have a positive ripple effect on the rental market as well, as more off-the-plan properties come online. Developers will benefit from increased pre-sale success, helping them to meet financing requirements and commence construction sooner.

What Buyers Need to Know

For those interested in purchasing an off-the-plan property, the expanded stamp duty concessions represent a rare financial advantage. The Victorian government's removal of the concession cap makes this offer more widely available than previous schemes, opening the door for both investors and owner-occupiers to secure valuable savings.

Urban.com.au will continue to provide updates on off-the-plan developments and related policy changes. Buyers interested in learning more about the stamp duty reduction can explore our latest listings or contact us for further insights into how this change could benefit them.

Summary of Eligibility:

<ul>
	<li>Applies to off-the-plan apartments, units, and townhouses within a strata subdivision.</li>
	<li>Stamp duty calculated based on land value, not total property price.</li>
	<li>Available for one year, ending October 21, 2025.</li>
	<li>No cap on eligibility; open to all buyers, not just first-home purchasers.</li>
	<li>With the Victorian government’s stamp duty concession, now is an ideal time for property buyers to enter the market while this limited offer remains available.</li>
</ul>

Victorian government's stamp duty cuts on off-the-plan apartments, units, and townhouses offer significant savings for property buyers. Learn more about eligibility, how to benefit, and why now is the prime time to buy with these expanded concessions.

Michael Bird

VIC Government slashes stamp duty for off-the-plan property buyers - savings available immediately, Oct 2024

Those who live in the well-connected North Sydney neighbourhood don't really need a car.

Now with the added convenience of the Victoria Metro Station, as well as a rejuvenation of the local hospitality scene, driving around the suburb isn't part of anyone's daily routine.

Developer Aqualand has however curated a car-driven perk for its residents at the recently completed&nbsp;<a href="https://www.urban.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney">AURA by Aqualand</a>.

They've teamed up with shared EV provider Outbound, in conjunction with converged infrastructure services provider SUPA, to provide ‘on demand’ Teslas for residents in the 28-level, Woods Bagot-designed building.

The Tesla vehicle pool means residents don’t need to own a car.

The service is facilitated through the Outbound App, with residents able to book and even open the Teslas from their phones for just $20 per hour, or a flat rate of $120 per day.

Initially, three Model 3’s will be available, but that number could be ramped up depending on demand.

[smartcode_project:default project_id=30959 project_image_fid=292863]

Outbound CEO Luke Rust said it's the residents who win from this sort of inclusion.

“North Sydney is very much steeped in history, so it’s a real coming together of the old and new worlds with this futuristic service," Rust says.

“Imagine that, watching a game of cricket or rugby being played on North Sydney Oval from your apartment, and then jumping in an ‘on demand’ Tesla to head over the bridge for dinner.

He says convenience is a big selling point, but so is cost.

"The average car in Sydney now costs something like $25,000 per year to own and operate, compared to renting an Outbound Tesla, which might only set you back a few thousand dollars. Plus, they’re luxury EVs, so what’s not to love?”

a[smartcode_project:default project_id=30959 project_image_fid=292888]

SUPA’s Chief Strategy Officer, James Dunstan, says it was an easy decision to offer the shared Teslas in AURA as SUPA has a clear sustainable electric mobility strategy and is delivering on it.

“Lifestyle doesn’t stop and start at the front door,” he says.

“AURA is one of the most state-of-the-art buildings in Sydney, so it seems obvious to extend that to how residents move around. If they do take one of the Teslas for a spin, all they have to do is plug it back into our onsite charging stations.”

[smartcode_project:default project_id=30959 project_image_fid=292900]

Residents of AURA are welcomed to the precinct by a&nbsp;four-metre cast iron sculpture, titled ‘Landscape’ by London-based artist, Richard Sweeney. Downstairs, the new retail and dining precinct includes three world-class restaurants and a bar.

Aqualand, the first completed development in North Sydney in years, comprises&nbsp;386 luxury apartments a stone's throw from the newly opened Victoria Cross Metro Station.

&nbsp;

[smartcode_project_cta:default project_id=30959]

Outbound CEO Luke Rust said it's the residents who win from this sort of inclusion

Joel Robinson

AURA by Aqualand residents to have communal Tesla access

Lifestyle developer GURNER™ has received planning approval for the first stage of its Docklands mega-project, <a href="https://www.urban.com.au/new-apartments/elysium-fields-208-226-harbour-esplanade-docklands">Elysium Fields</a>.

The first three towers of the $1.7 billion precinct, approved by the Minister for Planning, has been designed as a futuristic wellness and anti-ageing utopia.

The 27,000 sqm site at 208-226 Harbour Esplanade will house around 1,100 dwellings upon completion and will include around 3,700 sqm of immersive public landscapes and gardens. The first three towers will house around 700 dwellings. &nbsp;

In a significant coup for the project that will provide certainty in an unstable construction market, Hamilton Marino has been appointed to build the first tower. Early construction works are expected to commence in the next four weeks, prior to the public launch of sales, which is earmarked for early next year. &nbsp;

The precinct, described as a “utopian urban forest within a city” by <a href="https://www.urban.com.au/developers/gurner">GURNER™</a> Founder Tim Gurner, has been inspired by a futuristic approach to holistic health and anti-ageing, with the gardens, private amenities and residences incorporating the latest technologies in health and wellness. &nbsp;

Residents at Elysium Fields can expect to enjoy on-site anti-ageing facilities and equipment such as cryotherapy, IV infusions, dry and infrared sauna, red light therapy, grounding and PEMF beds, &nbsp;alongside exclusive access to the Elysian Reverse Ageing Medical Clinic that will provide medical grade treatments including MRIs, DEXA scans, brain scans, blood testing and personalised health plans.&nbsp;

<img alt="Elysium Fields" data-entity-type="file" data-entity-uuid="717a6cc9-7fa2-4da8-a0ce-e17139b63918" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E03%20-%20Wurundjeri%20Way_DJI_0490_Opt003.jpg?VersionId=WkbG5hJ3EAbN8B3LqG1lKDumORN_rYEL" />

Residents will also gain access to the planned on-site Saint Haven Private Club which will be the largest in the Group’s portfolio at circa 3,000sqm, and an indulgent Haven Ancient Baths concept, also by &nbsp;Gurner Group, that will offer 15 different types of enriched water for optimum health. &nbsp;

The ancient bathhouse, to be known as Haven Ancient Baths, will be one of the world’s largest bathhouses, bringing together the latest technology while celebrating the history and science behind bathing from centuries-old traditions. &nbsp;

Designed by Fraser &amp; Partners, the precinct will include a walkable ‘path of life’ that runs the entirety of the north-south ground floor/podium plane that will be designed for running, Yoga, meditation, &nbsp;training, exercise and recovery, alongside a rooftop sports court, a private wellness club, a pool club and 5,000sqm of retail, dining and public realm amenity.&nbsp;

The precinct will also feature its very own botanical gardens, be geared for a 24/7, interactive retail, &nbsp;dining and entertainment experience, and include a stunning, futuristic glass dome, modelled on the concept of Elysium being the utopian afterlife. &nbsp;

The journey to optimal health will continue inside each residence, with the homes designed to include filtered air purifiers, filtered water, access to northern sunlight, circadian lighting and optional recovery upgrades. &nbsp;

A Joint Venture between GURNER™ and City Harbour – a consortium that includes the Liberman family, which holds the development rights to the project – the precinct’s approval means the first tower, a luxury build-to-sell offering with circa 250 residences, can launch to the public early next year, with early construction works to commence next month. &nbsp;

The development will include over 1,100 BTR and BTS apartments, a retail and hospitality precinct, a 4-star short-stay hotel of circa 100 keys and another premier 5-star hotel in the main tower of over &nbsp;250 keys, with state-of-the-art conference facilities, a business club and hospitality offerings.

Tim Gurner said Elysium Fields is a "once-in-a-lifetime transformation precinct."

"We are excited to have the opportunity to reshape the future of the Docklands and create a world-class, 24-hour destination this city deserves.

“Appointing Hamilton Marino to construct the first tower gives our clients certainty in delivery. We are committed to the precinct and will be commencing early construction works before the first launch of sales."

[smartcode_project_cta:default project_id=144441]

Sales to launch at GURNER's $1.7 billion Elysium Fields precinct in Docklands

Prospective buyers at Elevate, the recently launched stage of Hume Place above Crows Nest Metro Station, will be able to secure an apartment in the exciting development with just a $10,000 deposit.

<a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a> has partnered with NestDeposit to provide the low deposit option, making it accessible for everyone including first home buyers, investors, and downsizers.

The 130 one, two and three-bedroom apartments offer a unique proposition to any buyer given the rarity of such a development directly above Australia's largest ever public transport project.

&nbsp;

[smartcode_project:default project_id=142550 project_image_fid=297877]

Luke Berry, Co-Founder of Third.i, said the team is&nbsp;always looking for innovative ways to help Australians achieve their property dreams.

"NestDeposit addresses the challenges of rising living costs, house prices, and the long savings periods needed for traditional deposits, making homeownership more accessible for buyers across the country," Berry says.

“We’re excited to offer NestDeposit at Elevate Hume Place, giving more people the chance to secure a home in a prime location above the new Crows Nest Metro. At Elevate, residents will enjoy seamless connectivity, stunning homes, upscale communal amenities, and an area that beautifully combines urban convenience and community charm."

Situated directly above the recently opened <a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, <a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>&nbsp;has been designed by Woods Bagot. and are split into categories; The Urban Residences, Panoramic Residences, and Skyhomes.

[smartcode_project:default project_id=142550 project_image_fid=297878]

The Urban Residences are made up of 76 one and two-bedroom apartments. They start on level seven and each feature a balcony or winter garden providing an extended alfresco living space.&nbsp;

The Panoramic Residences offer one, two and three-bedroom apartments, higher up the building to offer extensive views stretching from the heads, across the Harbour, and to the city skyline.&nbsp;

There are only 11 apartments in the Skyhomes collection, including a number of three-level penthouses that have their own rooftop terrace with a pool and outdoor kitchen. Each of the Skyhomes has three bedrooms, except for one oversized two-bed.

&nbsp;

&nbsp;

<a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a>&nbsp;and joint venture partner Phoenix Property Investors are working towards a Q3 2027 completion date.

[smartcode_project_cta:default project_id=142550]

Luke Berry, Co-Founder of Third.i, said the team is always looking for innovative ways to help Australians achieve their property dreams

Third.I offer $10k deposits at Elevate Hume Place apartments above Crows Nest Metro

Unit values are having their time in the sun in Sydney, as affordability and higher interest rates put a dampener on the house market.

The monthly update from property data analytics firm CoreLogic shows unit values increased by 0.6 per cent across September, whereas the counterpart house market saw a modest 0.1 per cent gain.

The Sydney median unit value is now $860,000, compared to the median value of houses which is now $1,473,000.

The growth in the Sydney market has slowed, with dwelling values, which incorporates houses and units, showing 0.5 per cent gains over the September quarter, the lowest growth since early 2023 when values briefly declined.

<h2>What happened in Sydney’s off the plan apartment market in September</h2>

There has been strong response to several new off the plan apartment developments in Sydney in September, particularly in the booming Lower North Shore region.

Over 60 per cent of apartments in the first release at TWT Property Group's <a href="https://www.urban.com.au/new-apartments/the-collective-crows-nest-23-35-atchison-st-crows-nest">The Collective</a>, on the fringe of <a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> and <a href="https://www.urban.com.au/new-apartments/st-leonards-nsw-2065">St Leonards</a>, were snapped up on the opening weekend.

Local downsizers and young couples made up the majority of purchasers who were attracted to the proximity to both&nbsp;Crows Nest Metro and Crows Nest village.

[smartcode_project:default project_id=94318 project_image_fid=293323]

The first building will have 93 one, two, three and four-bedroom apartments.&nbsp;The curved, 16-level building features interiors by&nbsp;<a href="https://www.urban.com.au/architects/dbi">DBI</a>&nbsp;who has created an interior scheme that is focused on creating functional living spaces, like the inclusion of study nooks and protected balconies.

The first stage of the masterplan will feature 3,000 sqm of commercial space, part of the 10,000 sqm of commercial space that will be on offer across the total 1.3-hectare development.&nbsp;

&nbsp;

[smartcode_project:default project_id=94318 project_image_fid=293324]

&nbsp;

It's been the same strong response to Elevate at Hume Place, the new release of apartments literally above Crows Nest Metro from Third.i.

The 130 one, two, three bedroom apartments offer unparalleled access to Sydney, as well as all of the amenity in the booming Lower North Shore metro corridor.

The apartments are split into three categories; The Urban Residences, Panoramic Residences, and Skyhomes, offering a wide choice for buyers.

[smartcode_project:default project_id=142550 project_image_fid=297877]

Hume Place will comprise three mixed-use buildings designed by the internationally acclaimed architecture firm Woods Bagot.

&nbsp;

&nbsp;

Third.i and joint venture partner Phoenix Property Investors (PPI) acquired the&nbsp;<a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>&nbsp;Overstation Development at the end of 2022 after being shortlisted by the NSW Government and Sydney Metro in a rigorous and highly competitive tender process. Third.i and PPI were selected over some of Australia’s most successful developers, to deliver both sites above the station.

[smartcode_project:default project_id=142550 project_image_fid=297878]

Records continued to set in the east with the circa $22 million sales of the AYA Penthouse representing the highest price paid for a non-beachfacing apartment.

The four-bedroom penthouse, designed by&nbsp;<a href="https://www.urban.com.au/architects/koichi-takada-architects" target="">Koichi Takada</a>&nbsp;at the top of the nearly complete Aqualine building, is the largest single-level penthouse in Bondi Beach.

<img alt="AYA Penthouse, Bondi Beach's largest single-level apartment sells for around $22 million" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-09-12%20at%207.40.27%E2%80%AFAM.png?VersionId=1pjK1aEVzQQ7f8WmAoiD.aQuvoXAxx7W" />

There was another record set in <a href="https://www.urban.com.au/new-apartments/the-centennial-collection-2-nelson-street-bondi-junction">The Centennial Collection</a> in the nearby&nbsp;<a href="https://www.urban.com.au/developments/bondi-junction-nsw-2022">Bondi Junction</a>. An $8.85 million sale is the highest achieved for a three-bed apartment in the suburb.

Ray White Projects Director, Marcello Bo, said local rightsizers continue to show strong interest in the project with "generous layouts and amazing interiors."

“Uninterrupted views of the harbour and city skyline is a big drawcard for buyers, along with the proximity to Woollahra,&nbsp;Bondi Junction&nbsp;and Centennial Park across the road," Bo said.

“The Centennial Collection&nbsp;finishes are extremely luxurious. There’s a winter pool and a year-round rooftop pool, a concierge and wellness hub; it really is a luxury experience.”

[smartcode_project:default project_id=136076 project_image_fid=212615]

Activity from both buyers and developers continued in Castle Hill.

Developer&nbsp;<a href="https://www.urban.com.au/developers/cpdm">CPDM</a> has secured significant interest following the launch of its low-rise development&nbsp;<a href="https://www.urban.com.au/new-apartments/larool-crescent-castle-hill-2-22-larool-crescent-castle-hill-nsw-2154">Larool Crescent</a>.

Its proximity to Castle Towers, and its variety of configurations, has seen it become a hit with first home buyers, rightsizers and downsizers.

[smartcode_project:default project_id=135330 project_image_fid=289164]

The most notable new development plans filed in September across Sydney was also in <a href="https://www.urban.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> where&nbsp;<a href="https://www.urban.com.au/developers/kassis-homes" target="">Kassis Homes</a> unveiled plans for Grand Reve II, named after its recently completed debut Castle Hill apartment development, <a href="https://www.urban.com.au/new-apartments/grand-reve-castle-hill-8-18-garthowen-crescent-castle-hill">Grand Reve</a>.

The new plans are for four towers, three residential and one hotel, next door to Grand Reve across a large 9,074 sqm on&nbsp;Garthowen Crescent and Old Castle Hill Road.<img alt="Reve Group file for new four-tower development in Castle Hill" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-09-10%20at%204.33.37%E2%80%AFPM.png?VersionId=JGCTtL5_W6OlfHZHUTLqDx8oVZZU8xyo" />

The new development will again offer a range of configurations. Across the 19, 22 and 23-level residential buildings will be 50 one-beds, 147 two-bed apartments, 56 three-beds and 11 four-bed apartments.

"We've been building in the area for three decades, and we're passionate about delivering high-quality residential living to&nbsp;<a href="https://www.urban.com.au/developments/castle-hill-nsw" target="">Castle Hill</a>," Sam Kassis told Urban.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/reve-group-file-for-new-four-tower-development-in-castle-hill">Reve Group file for new four-tower development in Castle Hill</a>

There has been strong response to several new off the plan apartment developments in Sydney in September, particularly in the booming Lower North Shore region

City Beat October 2024: Units continue to dominate houses in Sydney

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.

Urban Editorial

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?

A number of people ask - what is the settlement process when buying off the plan property?

The simple answer is that the process is one part of the off the plan buying journey that isn't too dissimilar to buying in the established market.

The major difference is the time from exchange to settlement, given the off the plan property isn't built yet. The standard settlement for established property is around six to eight weeks.

This however has a number of pros for off the plan buyers.

One of the biggest is that the price paid for the property at the time of exchange doesn't change. Even if the value of the apartment has risen during construction, buyers will still settle on their apartments at the same price agreed.

The settlement date will be forecasted in the contract, as to when the developer believes the building will be complete, and the certificate of occupancy is obtained. Then settlement can start to occur and buyers can move in.

The settlement date forecast is another pro for buyers. While this date can chop and change due to a number of reasons, least of all delays in construction, labour, and materials, it gives the buyer a ballpark future date where they need to have their finances in shape to settle.

By paying a deposit you lock in that price, and you might not be required to pay the rest of the deposit for two or three years, if the construction timeline is that far away. This allows buyers years to save up the rest of the money while their yet-to-be-built property potential grows in value.

The settlement date estimate also puts a time limit on buyers as to when they should either vacate their current rental, or put the wheels in motion to sell their current home.

If you're thinking of purchasing an off the plan apartment, it's a good idea to speak to a conveyancer or solicitor who can advise you on the settlement process and help ensure that everything goes smoothly.

A number of people ask - what is the settlement process when buying off the plan property?

Off the plan property settlement - how does it work?

Arguably floor plans matter more in off the plan property than any other type of property.

In established markets, the floorplan is the floor plan. That's it, barring renovations.

But in the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers when discussing buying an off the plan property.

First there's the floor plan size.

Floor plan sizes advertised by agents or developers can differ hugely state by state, so it's important to understand whether you are being pitched a property's internal size, or total size.

Internal size is the measurement of the internal floor area of an apartment, and is typically measured in square metres (m²). External size is the measurement of the external dimensions of an apartment, be it a courtyard or a balcony, but sometimes it can include a parking space or storage cage.

Generally, off the plan apartments are advertised with their internal size, as this is the size that you will have to work with when furnishing and decorating your new home. It's important to be aware of external size, however, as this will give you an indication of the overall size of the building and how much outdoor space you will have access to.

When considering internal vs external size, it's important to keep in mind that internal size may vary slightly from the advertised size due to the internal walls of the apartment. External size, on the other hand, is usually accurate to the advertised size as it's based on the overall dimensions of the building.

Another thing to consider when analyzing floor plans in off the plan property is that floor plans aren't necessarily set.

The majority of developers, providing construction is still at its early stages, will allow buyers to customize their floor plan to suit their lifestyle.

It might be that you want to move a bedroom or bathroom, or re-orientate the living area. This generally isn't a problem for developers as long as the moving of internal walls doesn't impact the building structurally, and the redesign all occurs within the same floor plate size of the original apartment.

In the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers

How to read a floor plan, what questions to ask, and why it's important for off the plan property buyers

West Residences in Mount Lawley is the latest offering from the award-winning local developer, Willing Property.&nbsp;

Located on West Parade, <a href="https://www.urban.com.au/new-apartments/west-residences-mount-lawley-141-west-parade-mount-lawley">West Residences</a>&nbsp;features a limited collection of 29 two and three-bedroom residences, ideally positioned within walking distance of the Swan River and the vibrant Beaufort Street retail strip, just 2.5 kilometres from Perth’s CBD.

We recently visited the display suite at 678 Beaufort Street in <a href="https://www.urban.com.au/developments/mount-lawley-wa-6050">Mount Lawley</a>&nbsp;and spoke with Butler Property's executive Steve Plummer and senior sales executive Jayson Watson to find out more about what's on offer.

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Inspired by the iconic Flatiron building in New York, <a href="https://www.urban.com.au/architects/klopper-davis-architects">Klopper and Davis Architects</a> have crafted West Residences to stand out as a significant architectural landmark in Perth.

The development's design responds to the unique angular site with generously proportioned floor plans and expansive private balconies that offer panoramic views of the city, river, and surrounding hills.&nbsp;

[smartcode_project:default project_id=138755 project_image_fid=280563]

Each residence is thoughtfully designed with high ceilings, excellent solar access, and efficient ventilation to ensure a spacious and comfortable living environment.

Residents will enjoy access to a range of amenities, including a level three orangery, a walkable citrus garden with dining areas, and spaces for yoga.&nbsp;

[smartcode_project:default project_id=138755 project_image_fid=280575]

The development prioritises sustainability, with common areas powered by solar energy.&nbsp; Additional features include secure parking, private storerooms, and bicycle storage.&nbsp;

<a href="https://www.urban.com.au/developers/willing-property">Willing Property</a>&nbsp;has an in-house hospitality team that will operate the ground floor cafe upon building completion, while their in-house construction arm has already kicked off construction on West Residences. They expecting completion in 2026.

[smartcode_project_cta:default project_id=138755]

Willing Property has an in-house hospitality team that will operate the ground floor cafe upon building completion, while their in-house construction arm has already kicked off construction



Inside West Residences, Mt Lawley new apartments by Willing: Urban display suite tour

Dwelling approvals in Western Australia have shown signs of improvement, but this growth in housing supply is unlikely to have a great effect on property prices.

That's the view of Resolve Property Solutions buyers agent, Peter Gavalas.

“There’s been a marked increase in dwelling approvals over the past few months, but this was coming off a low base,”= Gavalas says.

“We still have a significant supply deficit in <a href="https://www.urban.com.au/new-apartments/perth-wa">Perth</a> compared to population growth.”

The latest Australian Bureau of Statistics (ABS) data shows a 19.6 per cent improvement in total dwelling units approved between April and May 2024.

[smartcode_project:default project_id=142314 project_image_fid=263304]

Gavalas says population growth remains a key driver.

"Perth has seen significant population increases over the past few years, largely due to its relatively affordable cost of living and economic opportunities compared to other major Australian cities."

Western Australia’s population growth is fueled by interstate migration and a flourishing economy. The state recorded the largest population growth in 2023, up 3.3 per cent, according to the ABS.&nbsp;

“This influx of people continues to outpace the number of new homes being built, maintaining high demand for housing and will continue to do so,” Gavalas added.

Perth has a projected annual growth rate of 1.4 per cent over the next decade, according to the Centre for Population.&nbsp;

Another barrier for new homes is the cost of construction.

"Construction costs have soared, driven by a combination of material price hikes, interest rates and labour shortages," he said.

[smartcode_project:default project_id=142314 project_image_fid=228352]

CoreLogic’s latest residential construction costs analysis shows that, despite a slight improvement in costs, it is still around 30 per cent more expensive to build or renovate now than pre-Covid.

“This is translating into new builds being priced out of reach for a large segment of the market."

Adding to the situation is the fact that the pool of established homes being listed for sale is also smaller. In June 2024, total listings were down 32.2% across Perth, according to SQM Research.&nbsp;

"Homeowners are holding onto their properties, partly due to the uncertainty in the market and the difficulty in finding a new home once they sell. This reduces the overall availability of housing and further intensifies competition among buyers,” he said.

“With fewer homes available for purchase, and little in the way of new builds, it’s no wonder there has been such upward pressure on property prices over the last year.”

[smartcode_project:default project_id=142314 project_image_fid=263312]

Prices in Perth grew 23.6 per cent in the 12 months to June, according to CoreLogic.

But, despite its housing struggles, Gavalas said Perth is still a desirable location for buyers, thanks largely to its affordability. "Compared to the eastern capitals, Perth remains relatively affordable. This continues to attract buyers who are after better value for their money."

This sustained demand from buyers plays off against the slow pace of new supply and the high costs associated with construction.&nbsp;

"Even with more approvals, it would still take time before these properties were built, which means Perth’s supply shortage is unlikely to be solved anytime soon. For this reason, price growth in Perth is unlikely to flatten out in the near future,” he said.

Perth’s housing supply might be improving, but it's still lagging population growth

Willing Property has marked the construction of its latest Perth apartment development, West Residences in Mt Lawley.

A groundbreaking ceremony was attended by Minister for Housing, Hon. John Carey MLA, and Willing Property Founder Tim Willing to mark the start of construction that will be handled by Willing Property's inhouse building arm, Willing Build.

West Residences is set to be an iconic addition to <a href="https://www.urban.com.au/developments/mount-lawley-wa-6050">Mount Lawley</a>, designed in collaboration with acclaimed architects Klopper &amp; Davis and internationally renowned landscape architects CAPA.

They were inspired by the New York landmark the Flatiron building. <a href="https://www.urban.com.au/new-apartments/west-residences-mount-lawley-141-west-parade-mount-lawley">West Residences</a> will home 29 large-scale apartments atop a Willing Coffee shop on the ground floor.

[smartcode_project:default project_id=138755 project_image_fid=280579]

Three generations of the <a href="https://www.urban.com.au/developers/willing-property">Willing</a> family have resided in Mount Lawley, a suburb which Tim says he has a "life-long love for."

"I want to provide the opportunity for people to stay in an area they love, as well as give others the chance to move in and create family memories like the ones I've been fortunate enough to make.”

Tim said&nbsp;West Residences represents Willing's commitment to quality and design.

"We've paid special attention to every detail, ensuring each residence offers a unique living experience with all the modern conveniences. From the interiors to the views, West Residences is designed to provide an unparalleled living experience in Mount Lawley."

[smartcode_project:default project_id=138755 project_image_fid=280563]

Future residents of West Residences will benefit from the convenience of being just a short walk from Beaufort Street, a cycle ride to the river, or a short train ride to the city.

The apartments are designed in angular forms, resulting in a unique collection of residences. High 2.7m ceilings, thoughtful solar access and ventilation will create uplifting homes with a calming sense of space. Oversized private balconies extend the living areas outdoors, offering rare panoramic city, river and hill views.

Sam Klopper, Director of <a href="https://www.urban.com.au/architects/klopper-davis-architects">Klopper &amp; Davis Architects</a>, highlighted the distinctiveness of the project.

“Like New York’s Flatiron building, the site of West forms the junction between the orderly and the sublime," Klopper said.

"The avenues of Mount Lawley are crossed by West Parade, creating an opportunity to celebrate this contrast with a beautiful, angled form building.”

[smartcode_project:default project_id=138755 project_image_fid=280567]

West Residences adheres to 7-Star Nationwide House Energy Rating Scheme (NatHERS) performance criteria and will achieve carbon neutrality with standards that focus on the highest level of green rating. This includes a grid-connected solar PV system to deliver renewable power to all common amenities and EV charging.

West Residences is slated for completion in 2026.

[smartcode_project_cta:default project_id=138755]

Three generations of the Willing family have resided in Mount Lawley, a suburb which Tim says he has a "life-long love for."

Willing Property mark construction start of Mount Lawley apartment development, West Residences

Perth is set for one of Australia's largest urban renewal projects with the landmark $3.8 billion development of the Belmont Racecourse Precinct.

<a href="https://www.urban.com.au/developers/golden-sedayu">Golden Sedayu</a>&nbsp;recently revealed&nbsp;<a href="https://www.urban.com.au/new-apartments/burswood-point-saintly-entrance-burswood">Burswood Point</a>, a 38-hectare masterplan that will bring 4,500 apartments and a significant amount of amenity and hospitality to the immediate area surrounding the racecourse.

Buyers have now been given the first chance to buy in Burswood Point, with the release of apartments in the first two towers, Somerset East and Somerset West.

[smartcode_project:default project_id=142314 project_image_fid=263313]

Part of the first two towers is a suite of amenities&nbsp;including a 20-metre infinity pool with views towards the Swan River, an observation deck with private views of the racetrack and Optus Stadium, and a wellness centre.&nbsp;

The first tranche of retail and hospitality will also feature in this stage.

With everything going on at Burswood Point, we went to visit the display suite at 1 Saintly Entrance, <a href="https://www.urban.com.au/developments/burswood-wa-6100">Burswood</a>, to delve into the first stage of this 20-year project.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/QBKkNbxwSZY?si=fV5NySPiHQRBnTpr" title="YouTube video player" width="560"></iframe>

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Inside Burswood Point: Urban's display suite tour

Perth builder developer, Willing Property, is bringing a touch of New York to the Perth suburb of Mount Lawley with the launch of their latest off the plan apartment development, West Residences.

<a href="https://www.urban.com.au/developers/willing-property">Willing Property</a> called in local architecture firm <a href="https://www.urban.com.au/architects/klopper-davis-architects">Klopper &amp; Davis</a> to design a building that takes inspiration from the Big Apple's famous Flatiron building, a building which has stood in the heart of Manhattan since 1902.

There will be just 29 two and three-bedroom apartments on offer in the eight-level <a href="https://www.urban.com.au/new-apartments/west-residences-mount-lawley-141-west-parade-mount-lawley">West Residences</a> on the corner of West Parade and Aria Lane, near Forrest Park and a short walk to <a href="https://www.urban.com.au/developments/mount-lawley-wa-6050">Mount Lawley</a> Station. The apartments will sit above a ground-floor cafe, and will sit in landscaping by&nbsp;<a href="https://www.urban.com.au/landscape-architect/capa-studio">CAPA</a>.

[smartcode_project:default project_id=138755 project_image_fid=280562]

<a href="https://www.urban.com.au/new-apartments/west-residences-mount-lawley-141-west-parade-mount-lawley">West Residences</a>&nbsp;is characterised by its angular forms and large private balconies, offering panoramic views of the city, river, and hills.&nbsp;

Klopper &amp; Davis Architects Founder and Director, Sam Klopper, says like the famous Flatiron building, the site of West forms the junction between the orderly and the sublime

"The avenues of Mount Lawley are crossed by West Parade and the train line, creating an opportunity to celebrate this contrast with a beautiful angled form. Similarly, the local context around West Parade was developed during a period of hopeful optimism of our local gold rush and, like the explosive development of New York, speaks to and embraces this joyful vision of a greater and broader future.

"West draws on these connections to celebrate the beauty of the existing context and the wonder and the new to create a timeless and ageless icon."

[smartcode_project:default project_id=138755 project_image_fid=280578]

Each apartment features high ceilings, solar access, and efficient ventilation to offer spacious and comfortable living. They are designed with&nbsp;custom kitchens and bathrooms, incorporating designer lighting and Miele appliances.

Buyers will have the option of two different colour schemes. The Steam colour scheme features refined details of copper, black and brushed nickel, complemented by warm and pared back touches of timber, while the Patina scheme offers residents a more bold and lively approach, with sophisticated hues of deep greens contrasting with vivid whites, glimmering Inca gold, and an array of mixed metals.

[smartcode_project:default project_id=138755 project_image_fid=280563]

Residents will benefit from several amenities, including access to an Orangerie, which can be used for dining or yoga.&nbsp; The building also provides private, secure storerooms and bicycle storage. Common areas are powered by solar energy, reflecting Willing's commitment to sustainability.

Willing Property's construction arm will handle the build of the striking development.

[smartcode_project:default project_id=138755 project_image_fid=280567]

Willing Property was founded by Tim Willing in 2012, but the Willing family name has been synonymous with Perth development since the late 1960s.

Tim's father Doug built homes across Western Australia from 1969, with Tim and his brother Dayne growing up on building sites.

[smartcode_project_cta:default project_id=138755]

Klopper & Davis Architects Founder and Director, Sam Klopper, says like the famous Flatiron building, the site of West forms the junction between the orderly and the sublime


Willing Property to bring New York to Mt Lawley with West Residences apartments

<a href="https://www.urban.com.au/developers/uem-sunrise" target="">UEM Sunrise</a>&nbsp;has submitted plans for its first residential developments outside of Melbourne.

Having acquired a prime <a href="https://www.urban.com.au/developments/subiaco-east-wa">Subiaco East</a> site in Perth, some 4,930 sqm, UEM has proposed two mixed-use residential buildings that which will sit just beyond the boundary line of the iconic Subiaco Oval and alongside Haydn Bunton Drive. The proposed development is the first within the overall Subiaco East Masterplan by DevelopmentWA, the Western Australian State Government’s central development agency.

The proposed development will comprise around 340 apartments and is expected to accommodate more than 1,000 future residents, with up to 12% of the apartments providing affordable housing in the Western suburbs. The proposal aims to offer a distinct opportunity for future residents to enjoy the unique Subiaco lifestyle.

The scheme will see two well-designed residential buildings on Lot 1 with a tiered height of 25 and 35 stories plus a ground floor, creating a strong visual aesthetic for the landmark development. This will be complemented by a 10-storey building plus a ground floor on Lot 2.

The proposed design for the mixed-use residential precinct will promote communal interaction through well-curated spaces, 400sqm of retail space on the ground floor of Lot 1, which permeates into gardens and landscaping that augment the public facilities at The Oval site.

<img alt="Subiaco" data-entity-type="file" data-entity-uuid="63c77c49-542f-46b1-ba4b-d9dcd277ebe4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-30%20at%205.05.07%20pm.png?VersionId=.IV.XYW5_SseIP82gP52XMN8k21WtnJx" />

UEM Sunrise Chief Executive Officer Sufian Abdullah said the DA submission represented an exciting step forward for the company and its first development for the Perth residential market.

“We have had a significant presence in Australia for many years and we’re delighted to be delivering this landmark project in our first venture into Western Australia. We will bring our considerable local and global expertise in mixed-use developments to the Perth residential market to create a vibrant and connected new community in Subiaco East.” 
 
“This proposed development will create a high-quality residential precinct at an important time in the WA housing market – delivering new housing supply at scale, with more than 340 new homes for a wide range of residents. Our unique offering will appeal to home-owners – individuals and families – at different stages in their life, with greater flexibility and opportunity for intergenerational living, work-life integration and connection to a diverse community.”

UEM Sunrise is committed to delivering a design excellence outcome for Lots 1 and 2 including targeting a 5-star Green Star Buildings v1.0 certification with the Green Building Council of Australia. The 5-star Green Star Buildings certification represents Australian excellence in better, healthier and more responsible buildings, providing significant community and environmental benefits exceeding the Subiaco Oval and Railway Design Guidelines requirements for sustainability and building on the 6-star Green Star Communities v1.1 certification achieved by Development WA for the Subiaco East Redevelopment.

Construction of the proposed development is expected to commence in 2026.

UEM Sunrise Chief Executive Officer Sufian Abdullah said that the company was thrilled to secure the prized site and expand its presence in the Australian market

UEM Sunrise submit Subiaco Oval apartment development plans

Renowned Perth developer Edge Visionary Living&nbsp;is witnessing an unprecedented surge in penthouse sales across its luxury waterfront apartment portfolio in Western Australia.&nbsp;

Within the past quarter alone, <a href="https://www.urban.com.au/developers/edge-visionary-living">Edge</a>&nbsp;has seen remarkable traction with the sale of two sub-penthouses and three penthouses, collectively valued at $36 million.

The highest sale came from their&nbsp;<a href="https://www.urban.com.au/developments/scarborough-wa">Scarborough</a>&nbsp;apartment development&nbsp;<a href="https://www.urban.com.au/new-apartments/the-dunes-beachfront-residences">The Dunes Beachfront Residences</a>, where they secured a $12.5 million buyer for the 809 sqm penthouse crowning one of the two beachfront buildings, setting a new residential price record in the process.

[smartcode_project:default project_id=134709 project_image_fid=248347]

The Dunes Beachfront Residences was the first of the award-winning company’s oceanfront developments launched last year.

The project is a collection of 223 two and three-bedroom luxury apartments, sub-penthouses, and penthouses. The project will comprise two boutique buildings, each with around 115 residences.

Edge has Tier 1 builder Roberts Co engaged to construct The Dunes, with completion slated for October 2025.

[smartcode_project:default project_id=138456 project_image_fid=214907]

Edge also saw success at&nbsp;<a href="https://www.urban.com.au/new-apartments/broadway-on-the-bay-168-broadway-crawley">Broadway on the Bay</a> in <a href="https://www.urban.com.au/developments/crawley-wa">Crawley</a>, where they sold the 337 sqm riverfront penthouse for $8.22 million. Broadway on the Bay, another project which is expected to complete in late 2025, has just 21 apartments across eight levels on a prime 1,413 sqm block at 168 Broadway.

Not to be left out of the penthouse surge, their Mindarie beachfront project <a href="https://www.urban.com.au/new-apartments/claytons-mindarie-beachfront-50-alexandria-view-mindarie">Claytons</a> also saw a record breaking sale. The 274 sqm penthouse sold for $3.052 million.

The highest sale came from their Scarborough apartment development The Dunes Beachfront Residences, where they secured a $12.5 million buyer for the 809 sqm penthouse

Edge Visionary Living see penthouse sales flurry across Perth-wide portfolio

North Perth is set for a new mixed-use development.

Plans have been filed by a local private developer, Lam Property Development Group Pty Ltd,&nbsp;for an eight-level building with 117 apartments at 299 Charles Street, near Charles Veryard Reserve.

<img alt="North Perth" data-entity-type="file" data-entity-uuid="560e963a-9a47-4a0a-9f54-a0646f7176b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-01-24%20at%206.53.26%20pm.png?VersionId=EXCaOs7tMSQWogx8B1kiKhavGac5rOce" />

Only around half of the apartments proposed will be on the market (59). There will be 42 co-living units and 15 Specialist Disability Accommodation (SDA)&nbsp;units.

Of the 59 buy to sell apartments, there will be 15 one-beds, 33 two-bed apartments and 11 three-bedroom apartments.

The apartments will sit above a tavern/brewery, a private gym, two shops, and a restaurant/cafe.

The application says the commercial activation will promote vibrancy and convenience for not only residents of the development, but the wider community who utilise the Charles Street Neighbourhood Centre.

<img alt="North Perth" data-entity-type="file" data-entity-uuid="1a45e18a-a31d-4c81-b6f9-c7bfe187a29c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-01-24%20at%206.52.22%20pm.png?VersionId=4K7KJ03eW.kzPt1VRafBTy.AbH.PeKeO" />

&nbsp;

Total 185 car parking bays and 19 motor cycle bays. A breakdown of the car and motor cycle parking bays as follow

Space Collective Architects said in the Design Statement that there was an opportunity to&nbsp;marry the characteristics of the greenery pocket &amp; heritage pocket of North Perth.

They'll be focusing on sustainable principles. The&nbsp;project has been designed to a 6.5 Star minimum and 7.5 Star average NatHERS rating. The fully electric building will be EV ready and will have a minimum 20kW solar PV system.<img alt="North Perth" data-entity-type="file" data-entity-uuid="6c4535f1-33dd-4c6e-8eda-372db61f06bb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-01-24%20at%206.52.50%20pm.png?VersionId=FgTBqhDe0kfWPMouHpnBAyae5dWNATJo" />

There will be an open terrace on level one with outdoor seating and a barbecue, while a level six terrace will have a residents' lounge, and more outdoor seating and barbecue space.

The development value is $35 million.

The apartments will sit above a tavern/brewery, a private gym, two shops, and a restaurant/cafe

New apartment plans filed for North Perth

There's arguably no better time to be developing in Perth, at least when it comes to demand.

While cyclical factors such as cost of labour and materials are problematic, the demand is possibly as high as its ever been, and the lack of supply means price are rising, which is helping developers make projects stack up.

Property data analytics firm CoreLogic's data showed Perth was the number of performer in both the house and unit market in 2023. House prices jumped 15.2 per cent, to a median $691,000, now nearly higher than Hobart ($700,000), while units rose 12.4 per cent to a new median $464,000.

It was the same script in the rental market. Unit rents rose by 16.5 per cent, or around $80 per week on the median value over the year, CoreLogic found, while house rents were up 12.9 per cent.

Soaring rents has seen WA become the go-to interstate investment market, data from&nbsp;MCG Quantity Surveyors shows.

MCG Managing Director Mike Mortlock says&nbsp;WA is now considered among the nation's most investor-friendly jurisdictions.

"There's little doubt its popularity with real estate buyers from the east coast has increased the gap between home and investment," Mortlock says.

“Western Australia, and more specifically Perth, has seen a substantial uptick in investor participation. Price is a factor as some big capital city markets are now beyond the reach of everyday buyers. Our analysis shows the average price an investor pays for a property is approximately $615,000. That amount will go a lot further in Perth than it will in Sydney or Melbourne."

Taking advantage of the Perth boom is developer Golden Sedayu, who will soon be revealing more of their $3.8 billion mega project, Burswood Point.

[smartcode_project:default project_id=142314 project_image_fid=228351]

The huge project, which at 38 hectares will be one of the largest urban development projects ever undertaken in Australian, will transform the Burswood Peninsula into a thriving, living precinct with&nbsp; 4,500 residential apartments as well as office and retail space.

The project is set to inject more than $10 billion into the state’s economy and generate 25,700 West Australian jobs over the next 10 years.

Golden Sedayu, a partnership between Perth’s&nbsp;<a href="https://www.urban.com.au/developers/golden-group" target="">Golden Group</a>&nbsp;and one of Indonesia’s largest property corporations Agung Sedayu, has also allowed for 110,000 sqm of public open space, larger than Langley Park. The project has over 2.5 kilometres of Swan River foreshore.

Already lodged with council are development applications for two premium apartment towers with 206 apartments and four retail tenancies on the north of the site. Another application for two more towers due to be lodged later this month.

The first homes and apartments will go on sale early in 2024, with the remainder of the Burswood Point development released as approvals are granted.

[smartcode_project_cta:default project_id=142314]

Perth ranks as nation's best performing capital city unit market in 2023 as 2024 welcomes game-changing mega project

Renowned Perth developer Edge Visionary Living has appointed award-winning Tier 1 builder Roberts Co to construct The Dunes, Edge's striking Scarborough apartment development.

Edge Managing Director Gavin Hawkins said he is thrilled to have Roberts Co choose the world-class Dunes project to establish their presence in Western Australia.&nbsp;

“The partnership with Roberts Co is a meeting of like minds, with each party possessing an unwavering commitment to delivering The Dunes to the highest design and construction standards.”&nbsp;

Roberts Co CEO Matt Bourne said the 100% Australian-owned builder is excited to partner with Edge on the company’s first project in Western Australia.&nbsp;

“We are proud to continue the Roberts family legacy in WA, building on strong relationships and over 60 years of history. I would like to thank Gavin Hawkins and his team for the opportunity and trust in us to deliver a project of this quality.”&nbsp;

“Over the past 12 months, we are proud to have grown Roberts Co’s headcount by nearly 20%, including multiple key appointments in Western Australia to spearhead The Dunes project.”

The Dunes is a collection of 223 two and three-bedroom luxury apartments, sub-penthouses, and penthouses. The project will comprise two boutique buildings, each with around 115 residences.

<img alt="The Dunes" data-entity-type="file" data-entity-uuid="e4f82492-e4e4-4027-af49-d3c1a8d22837" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%2010.26.35%20am.png?VersionId=r_11nXQCsVXbVl56cfatr8ZG5PwQjDyt" />

Designed by Hillam Architects, The Dunes celebrates its iconic site with a curved façade rich in its palette of coastal-inspired materials and textures to reflect the ebb and flow of the tide and ever-changing forms of the undulating dunes.

The Dunes will offer residents direct beach access at the northern end of the Scarborough foreshore and uninterrupted views across the ocean to Rottnest Island, north over Trigg Bushland Reserve and the lights of Mindarie, and south to Fremantle Port.

Aside from the residences, The Dunes' amenities are unrivalled in the area. They include a protected lagoon pool and pavilion, multiple ocean-facing lounges and dining areas, a sunset terrace, and a wine cellar and tasting room. Additional features include a gymnasium, a sauna and steam room, a games room, and a book retreat.&nbsp;

<img alt="The Dunes" data-entity-type="file" data-entity-uuid="517b1834-e6eb-42a7-b36f-a222ed9515b8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%2010.26.31%20am.png?VersionId=BtSddzRZaAKyugs2CTc.VZm2_rU9Jh8g" />

The Dunes Beachfront Residences is the first of the award-winning company’s oceanfront developments launched last year.

“Our vision is to create Perth’s most sophisticated residential offering on Western Australia’s most recognised coastal strip,” Edge Visionary Living Managing Director Gavin Hawkins said.

Residents can secure the government's off-the-plan stamp duty rebate of up to $50,000.

The Dunes is estimated to be completed in October 2025.

[smartcode_project_cta:default project_id=134709]

The Dunes is a collection of 223 two and three-bedroom luxury apartments, sub-penthouses, and penthouses

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