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Ballarat has been identified as a potential hotspot, but investors should tread cautiously when considering housing in new estates further out of town, according to property valuers Herron Todd White.
In its April property market report, HTW notes that “Ballarat property values soften as the distance from Lake Wendouree, [schools], shops or CBD increases”.
“The modern outer suburbs of Lucas, Alfredton, Sebastopol and Delacombe continue to be developed to new housing and estates, which are largely filled by young families and investors.
“It is these outer suburbs that are generally hardest hit by government announcements, interest rate movements and economic uncertainty, due largely to the high loan to value ratios and relatively generic product in the $200,000 to $350,000 price range,” warns HTW.
Currently developers are offering house-and-land packages in Lucas and Sebastopol starting from about $240,000 for a two-bedroom house on a 375-square-metre block rising up to $435, 000 to a two-storey, four-bedroom house on a 522-square-metre block.
There more than 500 off-the-plan house-and-land packages on offer in these two suburbs alone.
Among them is this three-bedroom house-and-land package on a 375-square-metre block (pictured below) priced at $267,000 and <a href="https://www.realestate.com.au/property-house-vic-ballarat-110186989?listingType=buy">listed by Vince Cavarra of Burbank Homes Melbourne</a>.
<img src="/images/stories/ball1.jpg" width="470">
There are no established houses for sale in Lucas, according to Realestate.com.au.
On Spencer Street in Sebastopol <a target="_blank" href="https://www.realestate.com.au/property-unit-vic-sebastopol-107576844">this “updated” three-bedroom house</a> (pictured below) is targeted at first-home buyers or investors with a price tag of $195,000 and is listed by Mark Nunn of Hocking Stuart Ballarat.
<img src="/images/stories/ball2.jpg" width="470">
In contrast, the inner suburbs offer a more stable investment environment for property investors.
 Four Ballarat suburbs within a two-kilometre radius of the city centre feature among Smart Investor magazine’s list of 601 suburbs that delivered the best capital growth over 2011.
Two of them – Soldiers Hill and Ballarat East – have median house prices under $300,000 while a third, Ballarat Central, has a median house price just over $300,000.
Only Lake Wendouree has a median house prices approaching that of some Melbourne suburbs:
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="114">
Suburb
</td>
<td valign="top" width="114">
Median house price
</td>
<td valign="top" width="114">
Capital growth over 2011
</td>
<td valign="top" width="114">
Median rent
</td>
<td valign="top" width="114">
Gross rental yield
</td>
</tr>
<tr>
<td valign="top" width="114">
Ballarat East
</td>
<td valign="top" width="114">
$237,000
</td>
<td valign="top" width="114">
4.8%
</td>
<td valign="top" width="114">
$255
</td>
<td valign="top" width="114">
5.6%
</td>
</tr>
<tr>
<td valign="top" width="114">
Soldiers Hill
</td>
<td valign="top" width="114">
$285,000
</td>
<td valign="top" width="114">
9.6%
</td>
<td valign="top" width="114">
$255
</td>
<td valign="top" width="114">
5%
</td>
</tr>
<tr>
<td valign="top" width="114">
Ballarat Central
</td>
<td valign="top" width="114">
$302,000
</td>
<td valign="top" width="114">
7.9%
</td>
<td valign="top" width="114">
$270
</td>
<td valign="top" width="114">
4.9%
</td>
</tr>
<tr>
<td valign="top" width="114">
Lake Wendouree
</td>
<td valign="top" width="114">
$540,000
</td>
<td valign="top" width="114">
6.3%
</td>
<td valign="top" width="114">
$295
</td>
<td valign="top" width="114">
4%
</td>
</tr>
</tbody></table>
Source: Smart Investor magazine
According to Herron Todd White, proximity to the Ballarat CBD continues to remain important, with the residential property market “largely driven by infrastructure, planning, amenity and return on investment”.
The report notes that proximity to Lake Wendouree for walking, running and water sports remains important, with the suburb remaining predominantly owner-occupied with some of Ballarat’s most expensive housing.
“Areas such as Lake Wendouree, Soldiers Hill and Newington are thinly traded and tend to maintain steady value patterns as outer suburbs grow and become more or less expensive,” says HTW.
Currently the most expensive home in Lake Wendouree listed for sale is this rather <a target="_blank" href="https://www.realestate.com.au/property-house-vic-lake+wendouree-108085451">grand-looking five-bedroom home on Wendouree Parade</a> (pictured below) listed by Laurie Gillett from Professionals Ballarat, which has an asking price of around $1.4 million.
<img src="/images/stories/ball3.jpg" width="470">
According to HTW, market volatility in new housing areas is a good indicator for the greater region.
“In a softening market, as buyers become more hesitant, property type begins to significantly impact purchasing decisions.
“Features such as street appeal, access and the detached/semi-detached nature of a property begin to create larger price variances and impact marketing periods. Traditionally, detached homes with good access are preferred,” says HTW.
Photograph of Ballarat courtesy of Tourism Victoria
 
 
 
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New housing investors on Ballarat fringe warned to be cautious: HTW

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Australians care more about home ownership than US home owners and take a more prudent approach to lending and debt, Luci Ellis, head of the Financial Stability Department at the RBA, has told a mortgage conference in Atlanta.

Speaking ahead of a panel discussion on the topic of mortgage financing, Ellis began by telling US financiers: “Americans are not obviously more enamoured of home ownership than other people. We talk about a ‘Great Australian Dream’.’”
She presented the following graph to show that Australians are better at managing their mortgages than US borrowers paying their mortgages down ahead of schedule.
It shows that during the last 10 years around half of Australian borrowers have been ahead of their mortgage repayments schedule while in the US this is closer to 20% of borrowers. (Australian authorities report more regularly on mortgage repayment rates).
Click to enlarge
<a href="/images/stories/rbaapril14.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rbaapril14thumb.gif"></a>
“American households are less likely to pay their mortgages down ahead of schedule than Australians,” Ellis said.
“Trade-up buyers seem to have high loan-to-valuation ratios in the United States; that doesn't appear to be true in Australia. The result of all this is that the US housing stock is far more leveraged than that in Australia, even during the boom period,” she said.
Her remarks come as overseas investors continue to express concerns about the Australian housing market and shun buying Australian residential mortgage-backed securities.
“I have a US colleague with me at the moment and he says Australia has the most overvalued housing market in the world and that is has a serious bubble,” Peter Dorrian, head of global wealth management at the Australian arm of investment firm Pimco, told Business Spectator earlier this month.
In her speech, Ellis pointed out the uniqueness of the US financial meltdown, which was precipitated by a mortgage crisis.
“In most countries, by contrast, increased mortgage distress occurs with economic downturns; it doesn't usually precipitate them,” Ellis said.
Ellis identified four key factors that caused the US meltdown, beginning with the fact that had been a housing and construction boom ahead of the crash, creating an “overhang of excess supply”.
“The inherent stock-flow interaction in the housing market means that construction booms sow the seeds of their own destruction. Prices can undershoot formerly sustainable levels,” she said.
She also pointed out the weaker lending standards, which exacerbated the tendency of mortgage borrowers to default in a bust.
“There were gaps in both prudential and consumer protection regulation. Even where those regulations applied, they did not prevent lending practices not seen elsewhere, especially around income documentation and amortisation,” she said.
She said loans in the US discouraged amortisation.
“Interest-only loans, explicitly negative amortisation loans and cash-out refinancing, all meant that loan-to-valuation ratios that were high at origination, stayed high well into the life of the loan.”
Lastly she highlighted wider policy choices that were having an effect on the mortgage market.
“The United States has chosen a host of institutional arrangements outside the housing–finance system that result in US households facing more idiosyncratic and collective risk than their counterparts in many other developed countries. 
“Flexible labour markets, limited welfare systems and US-style healthcare and elder care systems are understandable policy choices. But these policy choices have implications for what can be safely managed in the housing–finance system. This fact needs to be taken into account when designing mortgage and housing policy.” 
Ellis said fixing the US system would solve what she called the reversal of an aversion to on-balance sheet mortgage lending. 
“During the boom, on-balance sheet mortgage lending was not seen as being a profitable or attractive business for US banking institutions. 
“That is extraordinary to foreign eyes. I believe that a healthy mortgage market is only feasible when sound mortgage lending is an attractive business for prudentially regulated firms; ideally, it should be possible for these firms collectively to dominate that industry, even if they do not in reality,” she said. 
“I also think more could be done to encourage mortgage amortisation. Paying your mortgage down before the bust is the most effective way of avoiding getting into negative equity once housing prices start to fall.
“It might be worth considering adjustable-rate mortgages in a more positive light. They offer some advantages, at least if they do not have aggressive teaser rates. In particular, they allow the borrower to make prepayments that can be redrawn later if needed. Think of this as like a home equity loan where the maximum balance declines over time.
“Such loans are common in Australia and have proven a highly effective vehicle for precautionary savings.”
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Australians pay off their mortgages faster than Americans: RBA

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The Brisbane unit market fared worse than the house market in the last six months of 2011 and, like Melbourne, faces an oversupply of this type of property.

Real Estate Institute of Queensland figures for the December quarter 2011 show that rental vacancies in inner Brisbane – where most of the stock is apartments – increased from 1.4% in the September 2011 quarter to 1.9% in the December 2011 quarter while the overall city vacancy rate remained unchanged at 2.3%

In addition, valuation firm LandMark White is warning that a combination of too many projects and historically low demand could result in an oversupply of new apartments in inner-city Brisbane suburbs like Fortitude Valley and Bowen Hills. 

The firm’s property valuers believe affordable “entry-level” apartments within five kilometres of the CBD will continue to appreciate in value but expect values in prestige units in new complexes to continue to fall.

“We have seen demand for prestige units decline again, with extended marketing periods or heavy price reductions,” says WBP. 

<img src="/images/stories/clock-brisbane-units.jpg">
On the other hand, “entry-level units are being purchased by single professionals who require affordable housing and access to the Brisbane CBD. We have recently seen volumes of sub-$400,000 unit sales increase.”

Michael Yardney is very bearish about Brisbane units, placing the market in the relatively early stages of a property downturn at three o’clock.

“There are a large number of off-the-plan apartments available in the Brisbane CBD and surrounding suburbs. Many of these remain unsold, and this oversupply of properties will put downward pressure on prices and rentals,” he says.

“Many of the apartments that have been sold off the plan are coming on stream in the next few years and have been purchased by investors. 

“Some will have difficulty getting finance and settling their purchase. Others will be disappointed to see the end value of their properties is less than their purchase price,” Yardney says.

“There will be an oversupply of inner-CBD and near-CBD apartments in Brisbane for a few years, causing prices to fall slightly.”
Population: 2 million 
Median unit price: $355,000 
Unit price growth in February 2012: 0.3% 
Annual unit price growth to December 2011: -6.5% 
Annual unit price growth to July 2011: -4.3% 
Rental yield: 5.2%
To find out where your capital city's house or unit market is on the property clock, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock" target="_blank">download our free eBook.</a>
Property Observer also tracks <a target="_blank" href="https://www.propertyobserver.com.au/queensland/brisbane-house-market-at-five-o-clock-and-yet-to-bottom-out-experts/2012041154227">Brisbane houses on the property clock</a>.
 
 
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Brisbane unit market at four o'clock, with prices still falling: Experts

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As the house price growth figures from RP Data show, Brisbane’s housing market continues to fall.

House prices were flat over the final quarter of 2011, according to figures compiled the Real Estate Institute of Queensland, which says that one year on from the floods, the housing market is showing signs of stabilising.

Michael Yardney, Louis Christopher and Charles Tarbey all believe Brisbane has some way to go before it bottoms out.

“House prices in Brisbane have dropped for the last two years. Brisbane buyers are lacking confidence to re-enter the market and are sitting on the sidelines waiting for signs that the market has bottomed before they make a purchase,” says Yardney.

“This may occur later this year as Brisbane prices stabilise. Prices are unlikely to start rising until the second half of this year or 2013.”

<img src="/images/stories/clock-brisbane-houses.jpg">
Time: 5 o'clock
Christopher says the market does not “not look as dark” as it did in mid-2011. “Stock levels have peaked a bit, but there is still a fair amount of stock on market. It’s not as bad as Melbourne, but not as good Sydney.” 

“Brisbane still has an oversupply of properties over this time last year, which continue to linger.  

“Once mortgage repayments reach parity with rental payments, I suspect the market will move quickly to seven or eight o’clock [and into an upswing],” says Tarbey.
Population: 2 million 
Median house price: $435,000 
House price growth in February 2012: -0.4% 
Annual house price growth to December 2011: -6.8% 
Annual house price growth to July 2011: -7% 
Rental yield: 4.7%
To find out where your capital city's house or unit market is on the property clock, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock" target="_blank">download our free eBook.</a>
Property Observer also tracks <a target="_blank" href="https://www.propertyobserver.com.au/queensland/brisbane-unit-market-at-four-o-clock-with-prices-still-falling-experts/2012041154228">Brisbane units on the property clock</a>.
 
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Brisbane house market at five o'clock and yet to bottom out: Experts

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Oxygen Home Loans, the subsidiary mortgage broking arm of McGrath Estate Agents, wrote a record $135 million worth of mortgage in March, defying a weak overall mortgage market.
March 2012 lodgements were 80% higher than what it achieved in March 2011 and matched a strong performance in NSW by AFG, the wholesale mortgage aggregator that Oxygen Home Loans operates under.
AFG lodged $842 million worth of mortgages in NSW, the second highest month for AFG NSW since the AFG Mortgage Index commenced in 2004.
Oxygen Home Loans has 24 mortgage brokers, who predominantly arrange finance for properties purchased through McGrath Estate Agents.
It was named independent brokerage of the year (six or more staff) and Australian brokerage of the year <a target="_blank" href="/news">at last year’s Australian Mortgage Awards</a>.
ABS housing finance figures released yesterday show that NSW owner-occupier mortgage commitments <a target="_blank" href="/news">fell by 9.4% in February</a> following an 8.5% drop in January.
Oxygen general manager James Green says the company’s milestone result came on the back of a 113% year-on-year increase in new mortgage enquiries in February and an 85% year-on-year increase in March.
“The big growth area for Oxygen has been from upgraders,” says Green.
“Correspondingly we have seen an increase in the average loan amount to over $630,000, the highest monthly figure recorded.”
Green says a large proportion of the applicants are buyers of McGrath properties, “reflecting the success of offering a streamlined one stop shop for property transactions”.
More than 90% of March lodgements were approved in principle, and James says the $135 million figure provided a good indicator of market activity and sentiment.
McGrath Estate Agents chief executive John McGrath says Oxygen’s success could be attributed to the group’s commitment to “six-star service”.
“When people buy or sell property they are usually trading the most valuable asset they own.
“They expect professionalism and accountability, and that is what they know they will get from both McGrath and Oxygen,” he says.
 
 
 
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Oxygen Home Loans writes record mortgage business in March as average loan size hits $630,000

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Melbourne-based ME Bank has announced it will leave standard variable mortgage rates unchanged two days ahead of ANZ’s independent rates announcement on Friday.
The decision to keep its mortgage rates on hold follows the RBA leaving the official cash rate unchanged at 4.25% last week.
ME Bank says it is leaving standard variable interest rates unchanged for the third month in a row “despite continued funding pressures”.
However ME Bank CEO Jamie McPhee warned that if “funding costs remain elevated then absorbing these increasing costs cannot occur forever”.
ME Bank currently has a standard variable rate of 6.74%.
This is 62 basis points lower than ANZ, which has the lowest standard variable rate of the big four banks and 72 basis points lower than Westpac, which has the highest standard variable rate of the major banks.
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0">
<thead><tr>
<td width="50%"></td>
<td width="50%">
Standard Variable Rate
</td>
</tr></thead>
<tbody>
<tr>
<td valign="top">
ME Bank Super Members Home Loan
</td>
<td valign="top">
6.74% p.a. Comparison Rate 6.76 p.a.
</td>
</tr>
<tr>
<td valign="top">
ANZ Standard Variable Rate Home Loan
</td>
<td valign="top">
7.36% p.a. Comparison Rate 7.46% p.a.
</td>
</tr>
<tr>
<td valign="top">
Westpac Rocket Repay Home Loan
</td>
<td valign="top">
7.46% p.a. Comparison Rate 7.59% p.a.
</td>
</tr>
<tr>
<td valign="top">
NAB Tailored Variable Rate Home Loan
</td>
<td valign="top">
7.31% pa Comparison Rate 7.44% p.a.
</td>
</tr>
<tr>
<td valign="top">
CommBank Variable Rate Home Loan
</td>
<td valign="top">
7.41% p.a. Comparison Rate 7.55% p.a.
</td>
</tr>
</tbody>
</table>
 
"It's important that we take the lead by acting independently with the needs of our customers and shareholders in mind," says McPhee. "We won't sit idly by and wait for our competitors to make a move when customers need certainty from their bank."
"ME Bank is maintaining our competitive position. Every month, since we became a bank in 2001, ME Bank has provided industry super fund and union members with standard variable mortgage rates lower than those of the major banks. This has not been a short-term pledge.
"While the major banks quickly increased rates and announced mass job redundancies and off-shoring to protect excessive profits, ME Bank did not. We've sought to keep the full burden off customers for as long as possible," says McPhee.
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ME Bank says it will keep its mortgage rates on hold ahead of Friday’s ANZ announcement: RBA rate decision aftermath

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The mortgage market continued to go backwards in February, with the total value of mortgages (excluding alterations and additions) falling 1.3% to $20.29 billion following a 2.3% decline to $20.73 in January.
Over February it became clearer that the withdrawal of first-home buyer stamp duty concessions in NSW for established dwellings brought forward demand.
NSW owner-occupier mortgage commitments fell by 9.4% in February following an 8.5% drop in January.
In December NSW mortgage commitments increased by 8.3% as first-home buyers acted to beat the established home stamp duty concession, which ended on January 1.
This followed a smaller 3.6% rise in November.
South Australia (+2%), Western Australia (0.8%) and Victoria (0.3%) were the only states to record increases in seasonally adjusted owner-occupier mortgage commitments in February.
Investor finance, remains relatively weak but volatile, rising by 4.4% for the month following a 6.8% drop for January.
Fixed loans for investment purposes increased by 4.4% in February to $6.9 billion following a 7.1% decline to $6.58 billion in January.
Westpac senior economist Andrew Hanlan says the February figures show that NSW is "correcting after a sizeable bring-forward ahead of 1 January in response to less favourable stamp duty arrangements while "Queensland [housing] finance softened ahead of the state election".
"Interest rate cuts by the RBA in November and December have so far failed to gain much traction.
"Housing affordability has improved, which acts to boost housing finance. However, this is being countered by a number of negatives: soft labour market conditions, a lack of consumer confidence, stretched housing affordability and global uncertainties.
"Also, commercial banks in February moved independently of the RBA, lifting the average bank standard variable mortgage rate to 7.40% from 7.30%, down from 7.80% as at last October.
"The lack of response from the interest rate sensitive housing sector adds weight to our view that the RBA needs to do more. We expect the RBA to lower rates at the May meeting with a follow-up move in July," says Hanlan
Loans for the purpose of buying a new house continued to trend down with a big 10.4% drop recorded in February following a 6.3% fall in January 2012.
In original terms, the number of first-home buyer commitments as a percentage of total owner-occupied housing finance commitments fell to 17.2% in February 2012 from 20.3% in January 2012.
Between February 2012 and January 2012, the average loan size for first home buyers fell $3,300 to $277,600.
The average loan size for all owner-occupied housing commitments fell $8,700 to $282,800 for the same period, according to February housing finance figures released by the ABS.
This follows January figures, where total mortgage lending fell by 2.3% to $20.73 billion on a seasonally adjusted basis, with the value of owner-occupier housing loans increasing by just 0.1% to $14.15 billion and loans for investment purposes falling 7.1% to $6.58 billion.
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NSW leads national fall in owner-occupier mortgage demand in February: ABS

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A surprise drop in consumer confidence in April sends “a very clear message to the Reserve Bank that Australia needs lower interest rates,” says Westpac chief economist Bill Evans. 
The benchmark Westpac Melbourne Institute Index of Consumer Sentiment fell by 1.6% from 96.1 in March to 94.5 in April to leave it at its lowest level since August 2011. 
Borrower confidence fell by 5.1%, compared with an increase in confidence of tenants of 7.4%, while those respondents who wholly own their houses had a much smaller fall in confidence of 1.7%. 
“We confidently expect the [RBA] Board to lower rates by 0.25% [on May 1] and furthermore, we do not expect that move to be the last,” Evans says. 
“Back in July last year when the Index was even lower than today's level, partly because respondents feared that rate hikes were imminent, Westpac forecast that a rate cut cycle would commence by year's end with a total of 1% in cuts. The bank has now delivered 0.5% in cuts, and we expect the second 0.5% to be delivered in two tranches in the very near future,” he says. 
Over the month attitudes towards purchasing housing and motor vehicles deteriorated. 
The index tracking views on "time to buy a dwelling" was down by 0.3% but at a relatively solid overall level, while the index tracking views on "time to buy a vehicle" fell sharply by 4.9%, possibly reflecting recent petrol price rises. 
Over the last 12 months the standard variable mortgage rate has fallen by an average of 0.4 percentage points, yet the confidence of respondents who hold a mortgage has fallen by 14.6%. 
Evans says the previous August 2011 low came at a time when consumers were very concerned about the global outlook and warnings of an imminent rise in interest rates. 
However, he says the “surprise” April fall in consumer confidence comes “with conditions in the global economy improving and commentators interpreting the Reserve Bank governor's latest statement as hinting strongly that rates are likely to be cut next month”. 
Evans says it seems “surprising that households would have a negative reaction in April”. 
“Indeed, apart from last year’s lows and the March 2008 to May 2009 period, when households feared a recession associated with the GFC, we have to go all the way back to 2001 following the bursting of the dot com bubble and the post-Olympics/post-GST slowdown to find sustained lower reads. 
“From there we have to go all the way back to 1992 to find the next series of lower prints,” says Evans. 
Evans says while the RBA did disappoint many consumers by not cutting rates last week, the guidance from the governor's statement was “quite encouraging”. 
“However, folks with a mortgage did not see it that way.”
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Drop in consumer confidence in April makes May rate cut likely, with more to come: Westpac  - RBA rate decision countdown

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All good things – including some government property grants and stamp duty concession schemes – must come to an end. 
Currently the first of these to expire will be the Queensland building boost grant, <a href="https://www.propertyobserver.com.au/residential/queensland-government-to-extend-building-boost-until-april/2012011253029">which has already been extended once</a> and is due to end in less than three weeks with no word from the Queensland government about a possible second extension. 
Here’s a list of what’s due to expire over the coming months and years. Click on the links for more information on the grants and schemes.
<img src="/images/stories/april302012.gif">
$10,000 - Queensland
The <a target="_blank" href="https://boost.treasury.qld.gov.au/l">Queensland building boost grant</a> is set to expire on April 30, and there is no word yet from the recently sworn in Newman government about possibly extending it for a second time. The grant is available for those buying or building a new house and is also available to upgraders and investors.  The April 30 deadline applies to when a contract must be signed. Completed applications must be submitted by September 1.
 
<hr>
 
<img src="/images/stories/june302012.gif">
$13,000 - Victoria
First-home buyers who qualify for the $7,000 first-home owners’ grant may also be eligible for an <a target="_blank" href="https://www.sro.vic.gov.au/sro/SROnav.nsf/childdocs/-6BF180369BCB3975CA2575A1004420CF-65A02CC2EEDDD527CA2575A1004420E8-BBB89806303008C1CA2575CB00011AD5?open">additional $13,000 payment known as the first home bonus</a>. For contracts entered into between July 1, 2009 and June 30, 2012, the value of the property must not exceed $600,000. A greater stamp duty concession for first-home buyers<a target="_blank" href="https://www.propertyobserver.com.au/victoria/victoria-s-new-home-bonus-grant-ends-june-30-but-lower-stamp-duty-cuts-in-for-first-time-buyers/2012050254518"> comes into force on January 1, 2013</a>.
$6,500 - Victoria
On top of the first-home-owners grant, there is $6,500 is available for those buying in a designated regional Victorian location. <a target="_blank" href="https://www.sro.vic.gov.au/sro/SROnav.nsf/childdocs/-6BF180369BCB3975CA2575A1004420CF-65A02CC2EEDDD527CA2575A1004420E8?open">Click here for more on the scheme</a> and <a href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/DBFEE9B4136A31E1CA2575CB00012C3265A02CC2EEDDD527CA2575A1004420E8" target="_blank" title="Eligible regional municipalities">click here for a list of eligible regional Victorian municipalities.</a>
Australian Capital Territory 
Stamp duty concessional rate available for the purchasing a residential home or residential vacant land. <a href="https://www.revenue.act.gov.au/home_buyer_assistance/home_buyer_duty_concession/1_January_2012_-_30_June_2012" target="_blank">More information on the scheme can be found here</a>.
$10,000 - Northern Territory
Eligible home buyers and investors can receive an additional $10,000 as part of the <a href="https://www.nt.gov.au/ntt/revenue/home_assist/buildbonus.shtml" target="_blank">Northern Territory government’s “BuildBonus” incentive</a>. The grant is available to home buyers and investors, including companies and trustees, that sign a contract to purchase or build a new home (including signing a contract for a house-and-land package), or unit (including off the plan) or commence construction of a new home as an owner-builder by June 30, 2012 up to a value of $600,000. The BuildBonus is available to first-home buyers in addition to the first-home owners' grant.
 
<hr>
 
<img src="/images/stories/july12012.gif">
$8,000 – South Australia
First-home buyers who qualify for the $7,000 first-home owner grant in South Australia may also be eligible for a <a href="https://www.revenuesa.sa.gov.au/fhog/bonus8000">first-home bonus grant of up to $8,000</a> if they enter into a contract to purchase or build a new home, or commence construction as owner builders before July 1, 2012. The $8,000 first-home bonus grant will be reduced to $4,000 from July 1, 2012 and then to be fully abolished from July 1, 2013. The first-home owner grant is not being phased out.
NSW Home Builders Bonus
The <a href="https://www.homebuyer.nsw.gov.au/newhomes.php">NSW Government's Home Builders Bonus</a> provides full exemption on stamp duty for new homes where the value does not exceed $600,000 and building has not commenced. It also applies to vacant land up to $400,000. The NSW Home Builders Bonus is available to everyone, including investors, who purchase a new house or apartment. For homes already under construction, stamp duty has been reduced by 25%.

 
 
<hr>
<img src="/images/stories/july120131.gif">
$4,000 – South Australia
Between July 1, 2012 and July 1, 2013 first-home buyers who qualify for the $7,000 first-home owners' grant in South Australia may also be eligible for a <a href="https://www.revenuesa.sa.gov.au/fhog/bonus8000">first-home bonus grant of up to $4,000</a> if they enter into a contract to purchase or build a new home, or commence construction as owner builders before July 1, 2013.
 
<hr>
 
<img src="/images/stories/june3020151.gif">
$7,000 - NSW 
The <a href="https://www.osr.nsw.gov.au/benefits/rrg/council/" target="_blank">scheme provides a one-off payment</a> to assist with the cost of relocating from a metropolitan home to a regional home. A list of metropolitan areas <a href="https://www.osr.nsw.gov.au/benefits/rrg/council/" target="_blank">can be found here.</a> All other regional municipalities qualify for the grant. All applicants must have owned and occupied the metropolitan home as their principal place of residence within 12 months before the contract exchange date of the regional home purchase. It is available for purchases up to $600,000 and $450,000 for vacant land. All applicants must sell the metropolitan home either before or within 12 months after the completion date of the regional home purchase. A further $7,000 is also available via the first-home owners' grant.
 
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<img src="/images/stories/noexpiration.gif">
 
$7,000 – nationwide
Remains in place across all states and territories though each state and territory has set their own upper property value limit, which was revised at the start of 2012. To find out what the rules and restrictions are in your state go to <a href="https://www.firsthome.gov.au/" target="_blank">firsthome.gov.au</a> and pick your state from the drop down menu.
$3,500 – Northern Territory
A stamp duty concession of <a href="https://www.nt.gov.au/ntt/revenue/home_incentives_priorMay08.shtml" target="_blank">up to $3,500 off the stamp duty payable</a> is available.
$2,000 – Western Australia
Provides a <a href="https://www.finance.wa.gov.au/cms/content.aspx?id=344" target="_blank">grant of up to $2,000 for the incidental expenses of first-home buyers</a> when they purchase an established or partially built home through a licensed real estate agent for $400,000 or less. This is in addition to the first-home owners' grant.
Northern Territory 
The <a href="https://www.nt.gov.au/ntt/revenue/home_assist/fhoc.shtml">first-home owner concession (FHOC)</a> provides stamp duty concessions for persons purchasing their first home in Australia, or land on which to build their first home.
Queensland 
<a href="https://www.osr.qld.gov.au/client-group/first-home-buyer/fhog-duties-concession-comparison.shtml">First home transfer concession and first home vacant land concessions</a>.
NSW  
The newly introduced first home – new home scheme provides eligible purchasers with <a href="https://www.osr.nsw.gov.au/benefits/first_home/first_home_new_home/" target="_blank">exemptions on transfer duty on new homes</a> valued up to $500,000 and concessions on transfer duty for new homes valued between $500,000 and $600,000. Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $300,000 and will receive a concession on duty for vacant land valued between $300,000 and $450,000</body></html>

Government property grants and stamp duty concessions: The expiry dates you need to know

<html><body>
Nearly a third (31%) of consumers expect residential property to be the most profitable investment sector over the next 12 months, according to an online poll of 823 consumers by mortgage broker Loan Market.
Residential property was just shaded by the share market, with exactly a third (33%) of consumers expecting the greatest profit from their share portfolio.
Nearly one in 10 (9%) expected commercial property returns to be most profitable.
Reflecting ongoing caution and savings culture 17% of respondents believed they would be better off putting their money “under the mattress”, which is higher than the 10% who expect to profit the most from holding their money in cash or putting it in low-interest-earning savings accounts. 
Property outweighed shares among older Gen-Y respondents – only 27% selected shares while 31% opted for residential property.
Loan Market survey results:
Which investment sector do you believe will be the most profitable over the coming year?
<ul>
<li>Shares                                                33% </li>
<li>Commercial property                 9%</li>
<li>Residential property                    31%</li>
<li>Cash/Savings                                   10% 
</li>
<li>Put money under the mattress 17%       
</li>
</ul>
“Australians have modest expectations for the economy,” says Loan Market corporate spokesman Paul Smith. 
“With savings being a particular priority for many Australians and caution being applied to nearly every financial decision shares and property investment hold the most attractive risk/reward balance. 
“It is alarming though that almost one in five respondents to our survey believe the best place to invest their money is under the mattress. 
“There a lot of uncertainty about the economy despite Australia so far avoiding the debt crisis that has plagued Europe.”
 
</body></html>

Shares just shade residential property as generating best return over next 12 months: Loan Market

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

Larry Schlesinger

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