Pembrook Homes has delivered over 1,000 homes across Melbourne's inner-city suburbs for over two decades.

Their latest pursuit of delivering contemporary, low-maintenance townhouses to family-friendly suburbs has taken them to REservoir, where they've previously completed several boutique developments in recent years.

The new townhouses at <a href="https://www.urban.com.au/new-townhouses/41-home-street-reservoir-41-home-street-reservoir">41 Home Street</a>, a row of just four, sit in the sought-after Oak Hill Estate, one of the most premium pockets in <a href="https://www.urban.com.au/developments/reservoir-vic-3073">Reservoir</a>.

Not subject to owners corp like the majority of townhouse developments, 41 Home Street townhouses are priced between $1,125,000 for the three-bedroom homes, and $1,195,000 for the sole four-bed townhouse.

&nbsp;

[smartcode_project:default project_id=148861 project_image_fid=319809]

The homes feature open-plan layouts that connect the kitchen, dining, and living spaces, leading to private courtyards designed for additional outdoor living.

Kitchens are equipped with 900mm Bosch stainless steel appliances, stone benchtops, and sleek cabinetry, anchored by a kitchen island which forms a versatile additional dining or entertaining space.

[smartcode_project:default project_id=148861 project_image_fid=319811]

Each home also meets a 6-Star NatHERS energy rating, designed to minimise their environmental impact without compromising on quality or comfort.&nbsp;

Landscaping has been thoughtfully planned to enhance privacy and integrate greenery throughout the site.

&nbsp;

[smartcode_project:default project_id=148861 project_image_fid=319808]

The Oak Hill Estate is an attractive area to live in Reservoir because within its small four-kilometre square boundary it has the likes of&nbsp;Darebin Community Sports Stadium, Reservoir Leisure Centre, Summerhill Village Shopping Centre, Broadway Shopping Centre, C.H. Sullivan Memorial Park, C.T. Barling Park, and several schools.

Home Street runs adjacent to Plenty Road where the 86 Tram heads into the city to Docklands or north to Bundoora RMIT.

<a href="https://www.urban.com.au/developers/pembrook-homes">Pembrook Homes</a>, who build all of their own developments, are expecting to complete the townhouses later this year.

[smartcode_project_cta:default project_id=148861]

Pembrook Homes, who build all of their own developments, are expecting to complete the townhouses later this year

Joel Robinson

Pembrook Homes to bring contemporary townhomes to Reservoir

Transport Oriented Developments have taken a hold of the Sydney development market in recent months, particularly since the opening of the extended Sydney Metro line.

Third.i is building Hume Place above Crows Nest Metro, while Mirvac and John Holland have revealed their future plans for Waterloo Quarter.

<a href="https://www.urban.com.au/developers/holdmark-property-group">Holdmark</a> is the latest to look to the ToD, which the government says "encourages sustainable and mixed-use development around transport and aims to create vibrant and walkable communities."

They have proposed three structures in <a href="https://www.urban.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a>, on a&nbsp;12,720 sqm site at 2-4 Giffnock Avenue, strategically located near the Macquarie Park Metro station, Macquarie Centre, and Macquarie University.&nbsp;

The proposal includes just under 600 apartments, with 10 per cent allocated as affordable housing.

The development will also incorporate retail spaces, including a supermarket, and essential infrastructure such as open space and road networks.

<img alt="2-4 Giffnock Avenue Macquarie Park" data-entity-type="file" data-entity-uuid="aa573be2-ab30-4736-ad7e-6aa918ebdc51" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site.png?VersionId=C1kfLHjpR1WHsWB043K2Enx59vV_YBXd" />

The site has been rezoned to allow for mixed-use development, with a maximum incentive height of 130 meters.

The development plan includes two slender residential towers and a smaller building above a shared podium. It aims to deliver a built form that reflects the evolving urban character of Macquarie Park while providing active ground-level uses and green spaces.

"Holdmark's proposal aligns with the precinct's goals of creating walkable, vibrant neighbourhoods with enhanced connectivity," the State Significant Development Application noted.

Studio SC, formerly Scott Carver, has handled the preliminary designs for the towers.

<img alt="Holdmark" data-entity-type="file" data-entity-uuid="158b54d2-872a-477e-92af-85f7af31beeb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-01-29%20at%208.04.45%E2%80%AFAM.png?VersionId=ZG.PM2H0GjFOGi4rmBm1fLih11q0JCIO" />

The precinct is one of six accelerated housing areas designated by the Department of Planning, Housing and Infrastructure, aiming to boost housing supply near major transport hubs while retaining job opportunities and improving public amenities.

"NSW needs more housing supply," the NSW Government says.

"We have a once-in-a-lifetime chance to shape the Six Cities Region’s city planning around Sydney’s new world-class metro system and leverage existing rail stations to serve generations to come.

"By building more housing near the metro and rail stations, we can enable more people to live close to transport, jobs, services, night life and amenities.

"The Transport Oriented Development (TOD) Program will create sustainable and connected cities now and for future generations."

The proposal includes just under 600 apartments, with 10 per cent allocated as affordable housing

First look: Holdmark submits Sydney's latest Transport Oriented Development at Macquarie Park	

Boutique townhouse developer,&nbsp;<a href="https://www.urban.com.au/developers/sloane-property">Sloane Property</a>, is accepting deposits of just five per cent at its under-construction Brighton townhouse development, 111 Carpenter.

The lower deposit, plus significant stamp duty savings since the government <a href="https://www.urban.com.au/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">abolished stamp duty in October 2024 for 12 months</a>, aim to provide greater accessibility to purchasers seeking larger homes in one of Melbourne's most sought-after suburbs.

Located on Carpenter Street, the project comprises just seven townhomes designed by Chris Megowan, who has a deep understanding of the area and its lifestyle demands. He has designed serveral successful projects for Sloane across Melbourne.

[smartcode_project:default project_id=7517 project_image_fid=214118]

Each townhouse has been crafted to maximise the northern exposure of the site, with key living spaces oriented to optimise passive solar gain and cross-ventilation.&nbsp;

The townhouses range between two and three levels and offer three or four bedrooms, open-plan living areas, and private landscaped gardens by <a href="https://www.urban.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a>.

Sloane Property Managing Director, Adam Sloane, highlighted the location as a major drawcard, citing <a href="https://www.urban.com.au/developments/brighton-vic-3186">Brighton</a>’s combination of beachside living, parks, cafes, retail, and highly regarded schools.&nbsp;

With the project situated near public transport and tree-lined streets, Sloane noted that the development provides an ideal base for families wanting a low-maintenance yet spacious home in the Bayside area.

[smartcode_project:default project_id=7517 project_image_fid=218198]

While apartments in the area cater largely to downsizers and Brighton's grand mansions suit families seeking large-scale homes, Brighton has had a lack of new townhouse development in recent years, a dwelling type designed to bridge the gap between apartment and house-sized living.

Sloane has reached framing stage of the seven townhouses. They are on track to complete in late 2025.

[smartcode_project_cta:default project_id=7517]

Sloane has reached framing stage of the seven townhouses. They are on track to complete in late 2025

5% deposit, $0 stamp duty - Buy into Brighton's affluent property market with 111 Carpenter townhomes

Australia’s first four-tower vertical stair climb challenge is set to debut in 2025, with Towers 4 Change aiming to raise over $400,000 – or $100,000 per tower – at Far East Consortium's West Side Place precinct in the Melbourne CBD.

As Australia’s largest stair climb charity event, and with the highest tower exceeding 80 levels and 1400 stairs, Towers 4 Change not only offers a physical challenge but also provides a powerful way for individuals and groups to ‘Step Up For Charity’ and raise money to support a charity that they connect with.

Each of the four towers at <a href="https://www.urban.com.au/buildings/west-side-place-melbourne-250-spencer-street-melbourne-vic-3000">West Side Place</a> will be dedicated to raising much-needed funds for a different and deserving cause, including building homes for women and children escaping family violence, supporting those living with life-altering conditions, and vital medical research.

<ul>
	<li>Tower 1: Ovarian Cancer Research Foundation</li>
	<li>Tower 2: Friedreich Ataxia Research Association (fara Australia)</li>
	<li>Tower 3: Good Friday Appeal</li>
	<li>Tower 4: The Victorian Homeless Fund</li>
</ul>

<img alt="West Side Place" data-entity-type="file" data-entity-uuid="f1443c90-8098-433a-9c7c-5e7251502425" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/West%20Side%20Place%20Towers.jpg?VersionId=hL563J70gxDdhXbtDWtu_ZG9cKDjTT2A" />

Lauren Sheldon, Director of Marketing and Sales at <a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>, said the developer is excited to contribute to Melbourne’s vibrant event scene and raise awareness for these worthy causes.

"This four-tower climb exemplifies our commitment to fostering a vibrant community. By bringing people together for this unique event, we aim to benefit everyone involved, from residents to participants and beyond,” Sheldon said.

EVENT DETAILS 
What | Towers 4 Change 
Where | West Side Place, 250 Spencer Street, Melbourne, VIC 3000 Date | Sunday 30th March 2025 
Time | 7am – 1pm

<h2>ABOUT THE CHARITY PARTNERS</h2>

<h2>Good Friday Appeal</h2>

Since 1931, the Good Friday Appeal has been dedicated to fundraising for The Royal Children’s Hospital so that it can continue to provide world-class care for children in Victoria and beyond. Funds from the Good Friday Appeal go towards ground-breaking research, state-of-the-art equipment and technology, education and family-centred care programs. GFA funds over 28 different projects each year - some are across multiple years, others one-off purchases.

“We are thrilled to be selected as a charity partner for the West Side Place Towers 4 Change, a unique and challenging event," Rebecca Cowan, Executive Director of the Good Friday Appeal, said.

"These funds will have a profound impact on funding state-of-the-art equipment, research, training, and patient- and family-centred care programs to continue the world-class care provided by The Royal Children's Hospital."

<h2>Friedreich Ataxia Research Association (fara Australia)</h2>

fara raises funds for research into treatments and a cure for Friedreich Ataxia (FA). FA is a rare genetic and progressive neuro-muscular disorder that is typically diagnosed in children or teens. It leads to loss of muscle coordination, fatigue, vision impairment, hearing loss, slurred speech, and then a serious heart condition which in many cases turns fatal by the mid-thirties. One in every 30,000 in Australia is affected. One in 90 people are carriers. There is currently no cure and no approved treatment in Australia.

Brad Hyde, Chief Executive Officer of fara Australia, says&nbsp;Friedreich Ataxia robs you of muscle strength, mobility and the ability to do even the everyday things we might take for granted.

"At fara, we are a small, rare disease charity with no government funding, raising funds for FA medical research. Being a partner of West Side Place Towers 4 Change will deliver the single greatest boost to awareness and fundraising beyond our own community. Every step climbers take will Lend Some Muscle to those living with FA and get us closer to finding that cure.”

<h2>Ovarian Cancer Research Foundation</h2>

The Ovarian Cancer Research Foundation (OCRF) supports vital research across the country that will help better detect, treat and prevent ovarian cancer. The OCRF is Australia’s largest independent funder of ovarian cancer medical research. Ovarian cancer is the most lethal women’s cancer with a five-year survival rate that has barely changed in decades, languishing at under 50 per cent. Addressing health disparity and funding inequity in cancer research is fundamental to achieving higher survival rates for ovarian cancer.

“West Side Place Towers 4 Change is a great new event that symbolises the heights we can achieve when we unite together for a cause, " Ovarian Cancer Research Foundation CEO&nbsp;Robin Penty says.

"Every step up, and every dollar raised, will directly support our vision of a healthy future for those impacted by ovarian cancer. This challenge is a powerful statement of hope, resilience, and the belief that each of us can make a difference. We are deeply grateful to the climbers and supporters helping OCRF achieve a step-change for women’s cancers, both figuratively and literally!"

<h2>The Victorian Homeless Fund</h2>

The Victorian Homeless Fund (VHF) is a Melbourne-based charity committed to providing safe and stable long-term housing for women and children escaping family violence. By building homes on unused residential land, the VHF offers families a fresh start and the opportunity to rebuild their lives. At its core, the VHF believes that everyone deserves a safe place to call home.

 
Colleen May, Victorian Homeless Fund Chair, says domestic violence is the single biggest cause of homelessness in Australia, and it's such a&nbsp;significant problem, it can't be solved by one group.

"If individually we all give a little, then collectively, we can change people’s lives. Every home we build is about extending a helping hand to those most in need, and providing a family with more than just a home—they gain hope and a future."

[smartcode_project_cta:default project_id=1270]

Far East Consortium's charity push in Australia’s biggest stair climb challenge

Busy developer Princeton has achieved a key milestone at its new South Sydney apartment development, Marque Rockdale.

<a href="https://www.urban.com.au/developers/princeton">Marque</a> is the only new apartment development in Rockdale currently on the market, and it is also the only one in the local government area to offer the new 10-year Latent Defects Insurance (LDI) policy from Resilience Insurance.

[smartcode_project_cta:default project_id=136442]

Located just 200 metres from Rockdale Plaza and under one kilometre from Brighton-Le-Sands beach, Marque combines thoughtful design in an ideal location that takes advantage of the coastal lifestyle, as well as the convenience and connectivity <a href="https://www.urban.com.au/developments/rockdale-nsw-2216">Rockdale</a> offers.

A recent sale of a one-bedroom apartment for $700,000 highlights buyer confidence in the project, a confidence which is further bolstered by the LDI policy.

Ray White WS Managing Director Mark Bernberg says the team behind Marque Rockdale has seen it achieve a strong level of success, even in a market where continued high interest rates are pushing down demand.

"The development is going from strength to strength, hitting key milestones and strong sales as a result of Princeton's standing in the development industry, the reputation of iCIRT-rated builder <a href="https://www.urban.com.au/builders/coplex">Coplex</a>, and the all-important Latent Defects Insurance," Bernberg says.

[smartcode_project:default project_id=136442 project_image_fid=278616]

<a href="https://www.urban.com.au/developers/princeton">Princeton</a>, which is funding the project itself through its capital arm, has been active in the new development space in recent years.

They have just completed a row of eight terraces in St Peters, which are achieving stellar results, and they are now putting the finishing touches on Eurangi, their ultra-luxury development on Bondi Beach’s prestigious Campbell Parade.

[smartcode_project:default project_id=136442 project_image_fid=278367]

Marque comprises 58 apartments, including one-, two-, and three-bedroom configurations, as well as a handful of SOHO apartments that blend residential and workspace uses.

The development has been designed with owner-occupiers in mind, featuring contemporary interiors, expansive glass walls for natural light, and premium finishes such as Caesarstone benchtops and engineered timber floors.

[smartcode_project:default project_id=136442 project_image_fid=277074]

A communal rooftop space offers over 100 sqm of amenities, including a herb garden, barbecue area, children’s play zone, and pergola-shaded dining areas.

Coplex is set to complete Marque in late 2025, offering an attractive price point in an undersupplied local market.

[smartcode_project_cta:default project_id=136442]

Ray White WS Managing Director Mark Bernberg says the team behind Marque Rockdale has seen it achieve a strong level of success, even in a market where continued high interest rates are pushing down demand

Princeton tops out Marque Rockdale as development team and Latent Defect Insurance drives sales

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

<a href="https://www.urban.com.au/developments/double-bay-nsw-2028">Double Bay</a>&nbsp;village&nbsp;is set to undergo further transformation, with new plans revealing more shoptop housing on Knox Street.

Scali furniture boss Anthony Scali is behind the plans for a five-level development on the site currently occupied by the Savoy Hotel at <a href="https://www.urban.com.au/new-apartments/35-45-knox-street">35-45 Knox Street</a>. Scali paid a reported price of around $35 million for the 616 sqm in 2021.

The lease to the Savoy Hotel has expired - paving the way for redevelopment to create nine apartments above three ground-level retail spaces - no doubt a potential new space for the Nick Scali furniture empire in the heart of one of Sydney's most affluent shopping suburbs.

<img alt="39-41 Knox Street DOUBLE BAY" data-entity-type="file" data-entity-uuid="7125a8ff-e053-4e0f-a92e-f5ebc8f2d48b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan%20-%20Photomontage%20-%20DA2024%20546%201%20-%2039-41%20Knox%20Street%20DOUBLE%20BAY.JPG?VersionId=KxFL5jxNq.xqt61llbJlwcGIJGh4YWzP" />

The $31 million development has been designed by <a href="https://www.urban.com.au/architects/mhn-design-union">MHN Design Union</a>&nbsp;who has chose a light brick and metal clad&nbsp;façade to integrate with the area's established character, which includes a combination of inter-war and contemporary mixed-use buildings.

Plans are for six two-beds, two three-beds, and one four-bed apartment, each with balconies and living areas which have been oriented to achieve maximise natural light and ventilation.&nbsp;

The project has been designed to suit a diverse demographic, including families, retirees, and downsizers, reflecting market demand for flexible and functional living spaces, the documents submitted to the Woollahra Municipal Council say.

The development provides 20 parking spaces across two basement levels, accommodating cars, motorcycles, and bicycles.

<img alt="41-45 Knox Street, Double Bay" data-entity-type="file" data-entity-uuid="186c47d7-a0fa-48a2-84fb-429a9774e0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Double%20bay.png?VersionId=HdatkgUJU8wHfXN.VBVGiu9fcf2h2u1r" />

&nbsp;

Double Bay is undergoing a huge redevelopment everywhere you look.

Late last year plans were submitted for the InterContinental Double Bay, also on Knox Street, <a href="https://www.urban.com.au/news/nsw/intercontinental-hotel-double-bay-to-become-1-billion-lifestyle-precinct">to turn it into a $1 billion mixed-use precinct</a> with a new high-end retail and dining precinct, cinemas, landscaped open spaces, a new boutique luxury hotel, and a health and wellness centre, and 29 apartments across the top seven levels.

Shortly before that, more <a href="https://www.urban.com.au/news/nsw/first-look-double-bays-cross-street-transformation-to-continue">plans were filed with the local council on Cross Street</a>, where the well-known&nbsp;Florida dry cleaners, womens clothing store Alex &amp; Harry, and cafe Bar Lanziano, will make way for more shoptop housing, with six luxury apartments planned above two more fashion outlets and a cafe.

Construction is well underway at Top Spring Australia's Ode Double Bay, where suburb records have tumbled in recent years. The penthouse sold for $25 million in 2022.&nbsp;

Double Bay makeover to continue as Scali furniture boss plots new luxe apartments

Prime Edition has kicked off 2025 with one of the first major projects of the year in Melbourne.

They’ve unveiled <a href="https://www.urban.com.au/new-apartments/33-queens-parade-clifton-hill-33-queens-parade-clifton-hill">33 Queens Parade</a>, a new development offering just 40 exclusive residences in the heart of Clifton Hill. The project is ideally situated between Edinburgh Gardens to the west and Darling Gardens to the east.

[smartcode_project:default project_id=134228 project_image_fid=322175]

The design, created by renowned local architecture firm <a href="https://www.urban.com.au/architects/cera-stribley-architects">Cera Stribley</a>, caters to a variety of buyers. The development includes 32 residences, comprising two and three-bedroom apartments, as well as six townhouses and two luxury penthouses.

Each residence features spacious, open-plan living and dining areas with floor-to-ceiling windows that maximise natural light.

[smartcode_project:default project_id=134228 project_image_fid=322189]

At the heart of each home is a kitchen equipped with premium Miele appliances, complemented by natural stone benchtops and splashbacks, timber laminate cabinetry, custom shelving, and a dry bar.

The master bedroom has been designed as a private retreat, with its own opulent ensuite and walk-in robe, while additional bedrooms are generously sized and have their own dedicated bathrooms.

[smartcode_project:default project_id=134228 project_image_fid=322185]

The design has also focused on seamless indoor-outdoor living. Every apartment and townhouse includes outdoor spaces, whether in the form of a balcony or a landscaped courtyard.

Beyond the residences, the development incorporates thoughtfully curated amenities, including EV charging stations, bike storage, and dog wash facilities, catering to the needs of modern urban living.

[smartcode_project:default project_id=134228 project_image_fid=322176]

Once a working-class suburb within the City of Collingwood, Clifton Hill’s transformation was propelled by the expansion of Melbourne’s tram network and the industrial growth along the Yarra River.

Today, it stands as one of the city’s most sought-after locales, renowned for its lush parklands, prestigious schools, and thriving café culture. Residents of 33 Queens Parade will enjoy unparalleled access to these amenities, all within a short distance from home.

The development also addresses a significant gap in the local property market, with fewer than 25 percent of Clifton Hill’s dwellings being apartments. As the first new development in the area in years, 33 Queens Parade represents a rare opportunity to secure a home in this tightly held suburb.

<a href="https://www.urban.com.au/developers/prime-edition">Prime Edition</a> has been developing across Melbourne's most affluent suburbs. Led by Eric Loi and Alistair Taylor, the firm has recently completed <a href="https://www.urban.com.au/buildings/arbour-park-352-358-canterbury-road-surrey-hills">Arbour Park</a> in Surrey Hills and is currently developing two other projects: Avoca, featuring five luxury full-floor apartments in <a href="https://www.urban.com.au/developments/south-yarra-vic-3141">South Yarra</a>, and <a href="https://www.urban.com.au/new-apartments/como-toorak-2-bruce-street-toorak">Como</a>, comprising 16 exclusive residences in <a href="https://www.urban.com.au/developments/toorak-vic-3142">Toorak</a>.

With 33 Queens Parade, Prime Edition continues its legacy of creating homes that redefine modern living while honouring the unique character of their surroundings.

[smartcode_project_cta:default project_id=134228]

With 33 Queens Parade, Prime Edition continues its legacy of creating homes that redefine modern living while honouring the unique character of their surroundings

Prime Edition launches rare Clifton Hill apartment development, 33 Queens Parade

ICD Property has a penchant for grand-scale, mixed-use developments, with a focus in recent years in its native Melbourne, Adelaide, and most recently Sydney.

The latest play by the Matt Khoo-led developer is in Brisbane, its first foray into the Queensland market. They've picked up a prime&nbsp;<a href="https://www.urban.com.au/developments/west-end-qld-4101">West End</a>&nbsp;site from R&amp;F Property, spending just under $50 million on the 1.68-hectare riverfront plot which cost R&amp;F $82.5 million in 2014.

Currently home to Riverside Corporate Park, the site, which borders Donkin and Buchanan Street, is currently occupied by&nbsp;three low-rise commercial buildings.&nbsp;

ICD has yet to reveal its own plans for the A-grade block of land, but previous approvals have been for seven buildings with around 1,000 apartments, a retail plaza, and a riverside walkway.

<img alt="ICD" data-entity-type="file" data-entity-uuid="035146a7-0cb7-4dba-80a9-c222c7143235" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-01-21%20at%201.50.40%E2%80%AFPM.png?VersionId=_Zi1F4QY8u6JKkcuE7voWdNUxI_g3qbw" />

ICD has already established a joint venture to work on the project, much like their upcoming Sydney CBD development, Sydney House. They're working with&nbsp;Singapore-listed&nbsp;<a href="https://www.urban.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;on the redevelopment of&nbsp;the landmark City Tattersall building on Pitt Street in the Sydney CBD.

<a href="https://www.urban.com.au/builders/richard-crookes-constructions">Richard Crookes Constructions</a>&nbsp;has already started the build of the striking new tower that will emerge above the heritage-listed former club that will be restored and converted into heritage hospitality venues.

Sales are expected to commence soon for the 241 one, two and three-bedroom apartments that will be spread across a new 50-level tower.

[smartcode_project:default project_id=12428 project_image_fid=312149]

ICD is also working with the Adelaide City Council on Market Square, a $400 million mixed-use project with apartments, a hotel, offices, and a childcare centre, as well as a significant retail precinct and a park.

Completion for Market Square is slated for 2026.

[smartcode_project:default project_id=104946 project_image_fid=218790]

ICD's latest project joins the ranks as yet another planned for the Brisbane River, which is going under somewhat of a precinct boom.

Across the road from ICD's recently acquired site, Heidelberg Materials is <a href="https://www.urban.com.au/news/qld/multi-tower-precinct-planned-for-south-brisbane-riverfront">proposing three 50-level towers</a> with 620 apartments, above&nbsp;a food and beverage plaza and a 5,400 sqm public park.

Apartments are still under construction at Queens Wharf, Brisbane's landmark riverside development, while <a href="https://www.urban.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe">Tenneriffe Banks</a> by Kokoda Property has been a hit with buyers since it launched to market.

ICD has yet to reveal its own plans for the A-grade block of land, but previous approvals have been for seven buildings with just around 1,000 apartments, retail spaces, and a riverside walkway.

Exclusive: ICD Property secures riverfront West End site for Brisbane's latest multi-tower precinct

National developer Frasers Property is putting family first at its latest masterplanned development, Bradmill.

<a href="https://www.urban.com.au/new-apartments/bradmill-yarraville-355-359-francis-street-yarraville-vic-3013">Bradmill</a> in Melbourne's <a href="https://www.urban.com.au/developments/yarraville-vic-3013">Yarraville</a>, seven kilometres west of the CBD, brings a lower maintenance, family-friendly option to the suburb which is dominated by single detached houses.

[smartcode_project:default project_id=134727 project_image_fid=317864]

The first two stages at Bradmill, Pioneer and Monfort Townhomes, have been designed by renowned architecture firm&nbsp;<a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>. They have several different configurations, offering either three or four bedrooms across two or three levels.

The homes are designed for family living, with open-plan kitchen, living and dining areas flowing onto private gardens, courtyards, or balconies. Single or double garages also offer convenient access to the indoors.

Rothelowman has also put a focus on modern living, with many homes offering dedicated study areas to accommodate the growing work-from-home trend.

The living areas feature low-maintenance engineered oak timber flooring, while the bedrooms are fitted with 100 per cent wool loop pile carpets.

Buyers can choose from two distinct interior colour schemes, Chambray and Indigo, a light or a darker colour for the interiors.

[smartcode_project:default project_id=134727 project_image_fid=317871]

Like the majority of <a href="https://www.urban.com.au/developers/frasers-property">Frasers Property</a> projects across the country as the company looks towards a more sustainable built environment, the homes are all-electric. They all come complete with solar PV systems, water-saving initiatives, and double-glazing throughout.

[smartcode_project:default project_id=134727 project_image_fid=311175]

Frasers Property doesn't build just homes, but communities.

The neighbourhood of Bradmill will be one of the most connected in Melbourne's inner west. Future Bradmill residents will have exclusive access to Bradmill Social, a hub for exercising, co-working, and group events.

[smartcode_project:default project_id=134727 project_image_fid=311275]

Linear Park will run through Bradmilll,&nbsp;connecting residents directly to the vast green spaces and sports grounds of adjacent McIvor Reserve, and a stroll to Bradmill Quarter’s 8,000 sqm retail precinct and the vibrant dining and community spaces of The Arbory.

The townhouses at Bradmill are currently&nbsp;under construction and will welcome residents toward the end of 2025.

[smartcode_project_cta:default project_id=134727]

The homes are designed for family living, with open-plan kitchen, living and dining areas flowing onto private landscaped gardens.

Why families are flocking to townhouses in Bradmill Yarraville

Diversified national property developer,&nbsp;<a href="https://www.urban.com.au/developers/time-place">Time &amp; Place</a>, has&nbsp;received development approval from the Victorian Planning Minister for a large-scale mixed-use development that will occupy one of the largest island sites on the Melbourne CBD periphery.

It will add another $500 million to the developer‘s portfolio once complete. &nbsp;

The Minister for Planning of Victoria, Sonya Kilkenny, announced the project’s planning approval in person at the <a href="https://www.urban.com.au/developments/south-melbourne-vic-3205">South Melbourne</a> site.&nbsp;

The DFP pathway was introduced to fast-track the delivery of much-needed housing and has been a pivotal tool in enabling the approval of Time &amp; Place developments while also includes their <a href="https://www.urban.com.au/news/vic/first-look-time-place-and-woolworths-greenlit-for-glen-iris-mixed-use-precinct">$150m mixed-use Glen Iris development</a> in partnership with Woolworths Group which was approved in October 2024.&nbsp;

By providing reduced approval timeframes and greater project certainty, the DFP pathway has enabled Time &amp; Place to confidently advance projects that meet community needs in a timely and efficient manner, strengthening project viability.&nbsp;

Tim Price, Founder and Director of Time &amp; Place, says the&nbsp;accelerated approval process is "enabling us to better deliver thoughtfully designed places while supporting local economic growth and job creation."

"We commend the Minister and the Victorian Government for their leadership and commitment to facilitating impactful developments that benefit the community and economy."

After initially acquiring a single site at 11-17 Dorcas Street, Time &amp; Place has spent the past 18 months gradually acquiring four additional sites bordered by Dorcas and Wells Streets and Middleton Lane, taking the land holding to 2,398 sqm.

The development will feature 243 apartments and introduce a village-style look and feel that integrates dining options, amenities and a community activation that will link directly with South Melbourne. The project will comprise one, two, three and penthouse apartments, in addition to a diverse ground-floor retail offering.&nbsp;

Designed by the renowned <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a> studio, the distinctive project is designed to feature two sculptural towers connected via a central garden bridge. The towers are conceived as a pair of elegant forms that rest on a refined garden podium, celebrating the Parkside address and surrounding Domain precinct. &nbsp;

Price said acquiring the additional sites allows for the introduction of a superior design and place-making outcome for this corner of South Melbourne, reinforcing the developer’s conviction in the area and the city-fringe residential market.

"In this vibrant corner of South Melbourne, seamlessly connected to South Yarra and the Botanic Gardens and just 1.6 &nbsp;km from the CBD, we envision an innovative, amenity-rich village that fosters community engagement with the Domain Precinct. Our goal is to provide sophisticated yet attainable residential designs that complement the prestige of this remarkable location.

“After exploring the opportunities presented from a larger, amalgamated site, Time &amp; Place has been able to unlock further design and amenity opportunities, evolving our original idea for the site into a true urban precinct that feels incredibly authentic to our brand and values."

Sales will commence on the yet-to-be-named project later in 2025, with construction set to follow shortly after.

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