<html><body>
Placing an offer on your dream home is an exciting process, especially if you’re a first home buyer. As with any significant purchase, doing thorough research is vital before putting your pen to paper, and having a greater understanding of the buying process could help boost your confidence and bargaining power.

In this article, you’ll learn more about:

<ol>
<li>Considerations for getting your finances in order</li>
	<li>Due diligence you could consider undertaking</li>
	<li>The different sale types in the market</li>
	<li>The pros and cons of unconditional vs conditional sales</li>
	<li>How to determine how much you should offer</li>
	<li>Tips to help you place your offer with confidence</li>
</ol>
<h2>1. Getting your finances in order </h2>

Firstly, it is important to determine your budget from the outset before you place an offer on a property. This will help mitigate issues such as offering too much for a home you can’t afford or taking on a mortgage you are unable to service. If you’re a first home buyer, it could also be a good idea to research whether <a href="/guides/how-to-navigate-australias-first-home-buyer-grants"><ins cite="mailto:Shay%20Waraker" datetime="2019-10-21T10:30">any government grants</ins></a> may apply to you.

In the current Australian property market, a minimum deposit on a house can cost anywhere from 5% to 20% of the sale price. You will also need to factor in additional fees such as legal costs, building reports and Stamp Duty*. <a href="http://www.canstar.com.au/home-loans/what-are-the-real-costs-of-buying-a-house/">Additional costs</a> will vary from buyer to buyer, so it is best to consult with a property lawyer about which ones apply to you.

[smartcode_project:default project_id=28314]

*Stamp Duty is the tax associated with buying property in Australia. If you’re looking to purchase a new apartment which will be your primary residence, then you may be eligible for an off-the-plan stamp duty concession. While Stamp Duty concession policies vary state to state, the concept generally means that the duty you’re required to pay on the property you’re purchasing is heavily subsidised to account for construction costs.

For example, if you were looking to purchase a $500,000 off-the-plan apartment, but $400,000 of that is to be spent on construction costs, the dutiable value of your home would be $100,000*.

Once you’ve got a budget in mind, if you’re going to require a home loan then you’ll need to decide whether you would like to opt for a fixed rate or variable rate loan. A fixed rate is where the interest rate remains stable for a certain period of time. This can provide you with more certainty and enable you to set up an automatic payment to make weekly or monthly payments of the fixed rate.

However, a variable rate means that as interest rates fluctuate, so does your repayment rate. This option is more unpredictable, with the potential for your rate to increase or decrease depending on the market.

There are also two ways you may be able to pay your loan.

<ol>
<li>
Principal + interest loan: This type of loan will mean you are paying both the principal (the amount you borrowed to purchase the property) and interest at the same time.</li>
	<li>
Interest-only loan: Interest-only loans can reduce the amount you pay weekly, but keep in mind you will only be paying the interest, without contributing towards the principal.</li>
</ol>
If you are unsure which repayment type suits you, it could pay to seek the help of a financial advisor.

You may also choose to apply for <a href="https://www.canstar.com.au/home-loans/get-home-loan-pre-approval/">home loan pre-approval</a>, which could be a useful way to understand how much you are eligible to borrow from a lender.

<h2>2. Undertaking thorough due diligence </h2>

Due diligence is the research required prior to placing an offer to check whether the property is a good investment for you. Due diligence is undertaken throughout many stages of the buying process, but before you make an offer, it can help you to determine if the property has been constructed to a high standard, using safe and healthy building materials – as well as a tool for deciding what the property may be worth. There are a number of things <a href="/guides/20-things-you-should-look-out-for-before-you-buy-property">to look out for</a>, and some of the key due diligence research can include:

<ul>
<li>When considering buying an off-the-plan property, investigate the track records of developers by running a background check online and reading news articles. It could also be a good idea to consult property industry experts (such as town planners, master builders and environmental consultants) to ask for honest opinions of the quality of work produced by the developer. Another option is to arrange a meeting with buyers of the developer’s previous developments via the sales agent, to discuss whether they’re happy with their home and if it was completed on time.</li>
	<li>Research the suburb where the property is located including checking crime rates, public transport options, planned infrastructure, property value increases/decreases over time and local schools. These factors will impact the overall liveability, safety and value of the property.</li>
	<li>Research the architect and builder responsible for the home. Consider their credibility and visit their completed developments to assess whether you’re happy with the quality of their work.</li>
	<li>Acquire all supporting documents for the property you’re interested in and read through them with a fine-tooth comb.</li>
	<li>Study the minutes from past strata/body corporate meetings and find out what will be required from you time-wise and financially as a resident if buying into an owner’s corporation*</li>
	<li>Find out whether the property has a heritage overlay and what renovations and modifications you are allowed to make to the property</li>
	<li>Take a look at Geospatial data (known as GIS maps) to identify any risks posed by sea level rising; property boundaries; the location of water, sewer and stormwater services; and more.</li>
</ul>
[smartcode_project:default project_id=29329]

*An owner’s corporation applies to shared residences where financial decisions need to be made for collective maintenance projects. 

When you’re ready to place an offer 

<ul>
<li>Consult with a conveyancing lawyer who will outline your rights and obligations</li>
	<li>Find out how the sunset clause* could be enacted in your state and whether you’re protected against loss of finances and/or the off-the-plan property you’re purchasing</li>
	<li>Find out what your rights are if your off-the-plan property is not delivered on time</li>
	<li>Ask how you will connect your property to utility services</li>
</ul>
*The Sunset Clause is essentially the ‘expiry date’ of an off-the-plan development which gives both the developer and buyer the opportunity to dissolve a contract if the building has not been completed on time.

Getting your offer contract drawn up by a conveyancing lawyer

An offer placed on a property is a legally binding contract, so by engaging a lawyer in the process will help to mitigate any miscommunication within the agreement. A specialised conveyancing lawyer can also help you negotiate the best deal. For example, your lawyer may suggest including a clause which highlights that you will not proceed with the sale should the property fail any inspections undertaken by a master builder or surveyor. This could include issues surrounding soil contamination, asbestos, structural issues and more.

<h2>3. Understanding the different sale types </h2>

TENDER 

A tender is often considered a silent auction where prospective buyers will submit an expression of interest offer in writing to the real estate agent, at a value they believe the property is worth. There is no suggested sale price apart from a capital value* to work from, but this is a good way for the vendor to assess how much the market is prepared to pay for their home – to which they can accept, provide a counter offer or decline.

*A capital value or CV is the recommended house and land value provided by a property valuer. If the valuation has been carried out over a year ago, it is worth engaging in a re-evaluation as the property market is constantly shifting, and house prices fluctuate.

SALE BY NEGOTIATION/PRIVATE TREATY 

Sale by negotiation or a private treaty is where the vendor sets the price, and prospective buyers will either make an offer or provide a counter offer. If a subsequent counter offer is provided by the vendor, the buyer may engage in a bartering process so both parties reach a sale price and agreement that they are both happy with.

[smartcode_project:default project_id=27839]

This sale type is often a longer process due to there being no set sale date, giving the vendor more time to settle on an offer they are comfortable accepting.

AUCTION 

The auction process is simple – prospective buyers bid in a competitive environment, with the highest bidder often winning the property on the day if the reserve price is met. In some instances, interested buyers may place an early offer before auction day in an effort to secure the property before it goes to auction. In Australia, auction clearance rates are high, meaning many properties will sell on auction day, rather than progress to a tender.

BALLOTS 

If there is high demand for an <a href="/new-apartments">off-the-plan apartment</a> a waitlist ballot could be created. Interested buyers can enter the ballot, and if their name is chosen at random, then they will be given the opportunity to purchase an apartment at a fixed price.

What do all three sale types have in common? Offers are made via a written contract

A contract offer can either be prepared by the buyer or the buyer’s lawyer. This is a legal document which states the amount the buyer is prepared to pay for the property and includes any conditions that need to be delivered in order for the sale to be finalised. It is encouraged that all offers are drafted with the help of a legal professional in order to help protect you against any unforeseen problems such as any hidden fees, unknown building rectification costs or any other issues that could arise between placing your offer to settlement and beyond.  

4. The difference between unconditional vs conditional sales 

Generally, when you make an offer, you can choose whether your offer is conditional or unconditional. This will generally depend on your circumstances and the property you are purchasing. Sometimes unconditional offers can be a more desirable option for vendors as they can result in a quicker, more seamless sale, however conditional sales can give the buyer the chance to negotiate a better deal.

A Conditional Sale is exactly as the name suggests – a sale with conditions attached. These could include (but not limited to):

<ul>
<li>Buyer’s finance is subject to approval</li>
	<li>Building/pest inspections still to be conducted</li>
	<li>The sale of buyer’s current home to be completed without any complications</li>
	<li>A certain fixture or fitting needs replacing</li>
	<li>The house needs to be professionally cleaned</li>
</ul>
Pros of conditional sale: 

<ul>
<li>If there are aspects of the home which need fixing, changing or even upgrading, buyers may include this in the conditions of sale. If the offer is accepted the vendor must honour these conditions before the buyer takes ownership of the property.</li>
	<li>Less risk involved if the buyer wishes to withdraw their offer, as a clause can be written to provide 14 to 21 days to finalise their decision about the purchase.</li>
</ul>
Cons of conditional sale: 

<ul>
<li>A conditional sale can span across a longer period of time while the buyer secures finance, which could result in the vendor accepting an unconditional offer if they’re looking for a quick transaction</li>
	<li>Unrealistic demands in your conditions may lead vendor to accept another offer</li>
</ul>
[smartcode_project:default project_id=29171]

An Unconditional Sale means that the buyer is willing to accept the property in its current state and can sometimes secure the home for a lower price point because of this. The buyer will have already secured approval for a home loan and has the deposit ready for immediate finalisation of the sale. It is a good idea to consult with a conveyancing lawyer and a registered builder/building inspector before opting for an unconditional sale, as there may be unforeseen issues with the property that might outweigh the savings you made from the sale. While it is imperative that the vendor’s agent discloses all issues present within the building – it is also important to do your own due diligence.

Pros of unconditional sale: 

<ul>
<li>An unconditional offer provides security for the vendor and therefore is more likely to be chosen preferentially over a conditional offer of a similar value.</li>
	<li>Since finance is already secured, buyers are able to place their highest bid with confidence.</li>
</ul>
Cons of unconditional sale: 

<ul>
<li>No longer able to back out of a contract</li>
	<li>The buyer may overvalue the property if making a hasty offer and won’t be able to change it</li>
	<li>If home loan finance is not approved, the buyer may have to forfeit their deposit</li>
</ul>
<h2>5. Deciding how much you should offer </h2>

You’ve got your budget in mind, you’ve accounted for additional upfront costs, now it’s time to decide whether you can comfortably service your mortgage. A great way to figure out your weekly or monthly repayments is by using a comprehensive mortgage calculator. This will factor in your deposit paid, interest, and home loan rate.

[smartcode_project:default project_id=24412]

CASE STUDY: 

NAB have set their principal and interest home loan rate at 4.92% per annum. If a buyer was to borrow $500,000 then their weekly repayments would be $613 p/w over a 30-year term. If the buyer was to borrow an additional $50,000, then this amount would increase to $675 p/w (a difference of $62 p/w).

When determining the price-point of your offer, some factors you may want to consider include how much you believe the property is worth based on market value, the condition of the home and your how attached you are to it. To gauge how much other listing in the area are selling for, you can research market values online, visit open homes in the area and speak with the real estate agents and sign up to mortgage brokering newsletters to stay informed about market trends. But ultimately, you’ve got to be happy with the property and comfortable with price based on your budget.

Depending on the type of sale you’re engaging in, you can generally place a low-ball offer, and have it either accepted or receive a counter offer from the vendor. However, if you’ve found the dream house and have the funds to pay your allocated amount for it, sometimes offering a decent price will avoid the risk of losing the property to a higher bidder if the vendor is looking for a quick sale.

6. Top tips when making an offer 

Know your budget before auction day 

Auctions are generally a high-pressure environment, which may lead some buyers to spend more than they initially intended, however attending an auction with a clear budget in mind is the best way to ensure you don’t exceed your spending capacity.

Seek loan pre-approval 

By securing your home loan before making an offer, your bid will have a stronger chance of being accepted as this provides more certainty to the vendor that you will be able to access the funds.

Have a contingency clause written up 

Worried you’ll get cold feet about the purchase? You can have your conveyancing lawyer write up a contingency clause – a legal document which generally accompanies your offer and is personalised to your requirements. For example, it might allow you 14 days to view the property again before the contract becomes binding. This will give you time to confirm your decision.

Triple check your conditions of sale 

If you’re asking the landlord to fix a window, but also want the property for $10,000 lower than the asking price – you might want to reassess your priorities. Consider the cost of your conditions versus the price you’re offering as the more conditions you can address yourself (and the shorter your list of requests) the more likely the vendor will be to take your offer over someone else's.

Include a personal letter 

Finally, you may like to include a personal letter to the vendor, sharing some background information about yourself and why you have chosen their property. Perhaps you love the house for its Victorian ceiling roses that have been so meticulously restored, or maybe you’re a young family with kids who are going to attend the school nearby. There can be a lot of emotional attachment for both parties when negotiating the sale of a house, so it can be helpful if the vendor is reassured that the property will be going to someone who will appreciate it.
</body></html>

Olivia Round

Step-by-step guide to placing an offer on a house

<html><body>
Buying a new home is always an exciting process, especially for first home buyers. As with any industry, real estate professionals will often reference terminology that you may not be familiar with unless you have bought property in the past. To help you <a href="/guides">buy off-the-plan with confidence</a>, we’ve compiled a list of 46 real estate glossary terms that will be helpful when navigating the off-the-plan purchasing process. 

Auction: At an auction, the auctioneer kicks the bidding off with a reasonable starting price, which is followed by counter-offers among bidders, creating a highly competitive environment. If the property does not meet the reserve, the property will be likely to go to a Tender, but in Australia auction clearances are high, meaning many homes will sell on auction day.

Adjustments: Adjustment is a way of calculating who pays what in regards to the outgoing costs of the property during the sale period.

Ballots: Many off-the-plan properties in high-demand (such as the likes of Nightingale Housing) are opting for a ballot system, whereby interested buyers will put down their name for the opportunity to purchase an <a href="/new-apartments">apartment</a> at the fixed sale price.

Capital Value: Capital Value = recommended land value + property value (which also takes into account the valuation of other properties in the area). A specialist property valuer provides this information as a guide for prospective home buyers.

Caveat: A legal ownership of a property by a third party.

Chattels: Fixtures and fittings within a home. It’s essential to identify chattel inclusions within the property before signing contracts.

Contingency Clause: A legal document which provides you with a grace period to finalise your decision to purchase your property.

Contract: A Contract of Sale is the agreement made between the buyer and the seller which details terms and conditions, price, caveats, completion dates etc.

Conditional sale: Is a restriction on the purchase made by the buyer. The property will not change ownership until the seller has actioned the caveat.

Conveyancer: A conveyancer is a lawyer who draws up the legal documents, including the offer and contract of sale.

Cooling Off Period: The period following the signing of contracts where the buyer may be able to forfeit the sale.

Covenant: A covenant is a set of rules and restriction around what changes to a site or property are permitted.

Deposit: A percentage of the property value, paid upfront to secure the sale. This amount often ranges from 5% upwards.  

Due Diligence: Is the research required to be undertaken before placing an offer on any property. Due diligence can help you to identify whether construction of a property is of a high standard and a great way to figure out how much you believe the home is worth.

Easement: Shared paths, driveways, communal spaces, which others have access to for servicing and maintenance.

Final Inspection: Before the property changes hands, one last property inspection will help to ensure it meets all standards outlined in the contract agreement.

Fixed-Rate: is where the interest rate remains stable for a specified period.

Freehold: The buyer will own the land and property until they decide to on-sell.

Gazumping: When the vendor has already agreed to a sale (and has not yet signed contracts) but then goes ahead and accepts a higher offer from another buyer.

Heritage Overlay: Buildings which fall under a state’s heritage overlay require sensitive development, and often require retaining some or all of the building’s structure/façade.

Home Loan Pre-Approval: Is the ability for a buyer to secure finance before placing an offer on a property.

Interest-Only Loan: Interest-only loans will often reduce the amount you pay weekly by not contributing towards the Principal.

Lender: Provider of the capital to secure the property (such as a bank).

Off-The-Plan: Buying an unbuilt property based off of viewing the plans.

Owner’s Corporation: The Owner's Corporation is a committee made up of residents within an apartment building. Homeowners attend meetings to discuss financial decisions regarding collective maintenance projects, events, renovations and more.

Mortgage: Sum of money loaned to cover the cost of the property, which is paid off over years of property ownership.

Negative Gearing: The use of <a href="/guides/18-ongoing-rental-property-costs-and-which-ones-are-tax-deductible">rental income</a> to invest in an additional property, when the rental return is less than the total amount of annual interest paid on the secondary property.

Permit: A permit is granted for a developer to commence construction on a project.

Personal Letter: A note provided to the vendor, often stating why the buyer would like to purchase their home.

Principal + Interest Loan: This type of loan will mean you are paying both the principal (the amount you borrowed to purchase the property) and interest at the same time.

Principal Place of Residence Statutory Declaration (PPR): This document identifies that the buyer is going to live in the home they are purchasing. PPR documentation is often required for Stamp Duty Concessions or <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">First Home Buyer Grants</a>.

Private Treaty: (Also known as Sale by Negotiation) This type of sale is where the vendor identifies the price they want for their property, which can start a bartering process among interested buyers and the vendor. There is no set sale date, so this open can mean a longer sale process.

Reserve Price: During an auction, when a bid meets the reserve price, the property will be guaranteed to sell.

Residue: Difference between purchase price and deposit.

Settlement: This marks the day of sale finalisation and homeownership is granted to the buyer.

Stamp Duty: Tax associated with buying property in Australia. For a new property that will be the buyer's primary residence, they may be eligible for an off-the-plan stamp duty concession. Stamp Duty concession rules vary state to state.

Strata: (Also known as Body Corporate) An external company responsible for general maintenance of communal areas within an apartment building.

Strata Fees: (Also known as Body Corporate Fees) <a href="/guides/how-to-make-strata-fees-work-in-your-favour">Strata fees</a> are paid quarterly or annually, to cover general maintenance costs within your apartment building.

Sunset Clause: The ‘expiry date’ of an off-the-plan agreement. This gives both the buyer and the developer an opportunity to break the contract if construction is not completed on time.

Tender: Often referred to as a 'silent auction.’ A Tender invites buyers to place an offer without knowing what price the vendor is willing to sell for.

Title Deed: (Also known as the Certificate of Title) A title deed outlines the information about the property and its owner(s).

Townhouse: A <a href="/new-townhouses">townhouse</a> is a dual storey home, attached to other properties in a development block.

Unconditional Sale: An unconditional sale is where the buyer makes an offer on a home without needing approval on finance, or any remedial work is done on the property prior to purchase.

Variable Rate: Your repayment rate fluctuates at the same time your interest rate does.

Vendor: Seller of the property.

Zoning: Outlines the use of land and the buildings situated within the ‘zoned area’.

Want to learn more about buying off-the-plan? Find out <a href="/guides">how buying off-the-plan works</a>, <a href="/guides">what to ask the sales agent</a> or <a href="/guides/20-things-you-should-look-out-for-before-you-buy-property">20 things to look out for</a> when buying your first home. 

Lead image: L-R Marina Tower and Banksia, Credit: Nicholas Failla
</body></html>

A-Z real estate glossary terms to know before buying off-the-plan

<html><body>
<a href="/buildings/cape-cartmell-109-cape-street-heidelberg">Cape &amp; Cartmell</a> apartments in Melbourne’s Heidelberg are perfectly appointed, adjacent to the thriving Burgundy Street retail precinct and Yarra River Parklands. With a Walk Score of 89/100, residents will be able to accomplish most errands by foot and maintain an active lifestyle.

<h2>THE APARTMENTS</h2>

Each of the 29 apartments boasts spacious open-plan layouts, with high-quality European appliances, bamboo timber flooring, polished stone benchtops and soft wool-blend carpets. The apartments have been designed for long-lasting sophistication and functionality – while giving buyers a neutral canvas to add their own personal touches.

The north-eastern orientation coupled with the lavish floor-to-ceiling windows mean residents will enjoy an abundance of natural light in each living space. Cape &amp; Cartmell’s upper storey has been thoughtfully recessed to attain visual balance, as well as providing ample balcony space for entertaining.

Configurations include one, two- and three-bedroom contemporary apartments – with one-bedroom apartments from $435,000.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cape-cartmell-109-cape-street-heidelberg-5175ec2242eea68b2eeb7a57a9c1a383.jpg" rel="gallery-all" title="Cape &amp; Cartmell apartment bedroom. Image supplied. "><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/cape-cartmell-109-cape-street-heidelberg-5175ec2242eea68b2eeb7a57a9c1a383.jpg?itok=R0rpA79G" title="Cape &amp; Cartmell apartment bedroom. Image supplied. " width="580"></a>

<figcaption>Cape &amp; Cartmell apartment bedroom. Image supplied.</figcaption></figure><h2>THE LOCATION</h2>

Cape &amp; Cartmell’s ground floor will be dedicated to a brand-new café, providing residents and the local community with a place to meet, relax and enjoy a coffee. Across the road from Cape &amp; Cartmell is Heidelberg Primary School, and just 500 metres away is Warringal Shopping Centre. There are also several sporting facilities nearby including the St John’s Tennis Club, Studio Yoga, Snap Fitness, Heidelberg Bowling Club; as well as Austin Hospital and Warringal Private Hospital only 1 kilometre away.

For those looking to commute to Melbourne CBD, the 12km drive is effortless with direct M3 access at the end of Cape Street. From an investment perspective, Heidelberg’s median rent currently sits at $500* per week, which is approximately 20% higher than the national average, making this suburb a viable option for investors.

*Median price indicative of property size and should only be used as a guide.

<h2>Key location selling points</h2>

<ul>
<li>Alphington rail network infrastructure investment</li>
	<li>Proposed airport link</li>
	<li>$16.5 billion North East Link</li>
	<li>950-metre cycle to the Main Yarra Trail</li>
	<li>750 metres to Heidelberg station</li>
	<li>700 metres to the M3 freeway</li>
	<li>Walk Score of 89/100</li>
	<li>Nearby parks include: Remembrance Park, Banksia Park and Albert Jones Reserve</li>
	<li>Burgundy Street offers more than 230 shops and service businesses</li>
	<li>Choice of Coles, Aldi or Leo’s Fine Foods for food shopping</li>
	<li>Heidelberg is home to one of Australia’s largest and most extensive hospital precincts</li>
	<li>Education options: La Trobe University Bundoora, Viewbank College zone, OLMC, NMITAFE</li>
</ul>
</body></html>

Live, work and play local – enjoy the convenience of living in a 20-minute neighbourhood

<html><body>
Imagine your own elevated sanctuary overlooking <a href="/new-apartments/ivanhoe-vic-3079">Ivanhoe’s</a> picturesque village, architecturally designed by IDLE Architecture Studio, with access to world-class amenity within your 20-minute neighbourhood. <a href="/buildings/valia-residences-ivanhoe">VALIA</a> provides a unique resort-style offering, with the practicality of its lock-and-leave design allowing buyers to downsize in style.

The luxurious apartments are available in two and three-bedroom configurations, both of which boast spacious, light-filled bedrooms and open plan living areas, perfect for relaxing and entertaining.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.37.59_pm.png" rel="gallery-all" title="VALIA exterior facade. Image supplied."><img alt="" class="image-article-full-width-580px" height="301" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.37.59_pm.png?itok=3Zn47IeO" title="VALIA exterior facade. Image supplied." width="580"></a>

<figcaption>VALIA exterior facade. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.37.30_pm.png" rel="gallery-all" title="VALIA apartment bedroom view. Image supplied."><img alt="" class="image-article-full-width-580px" height="302" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.37.30_pm.png?itok=U9mJFhJU" title="VALIA apartment bedroom view. Image supplied." width="580"></a>

<figcaption>VALIA apartment bedroom view. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.37.37_pm.png" rel="gallery-all" title="VALIA apartment bedroom. Image supplied."><img alt="" class="image-article-full-width-580px" height="302" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.37.37_pm.png?itok=nfbTw73z" title="VALIA apartment bedroom. Image supplied." width="580"></a>

<figcaption>VALIA apartment bedroom. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.37.51_pm.png" rel="gallery-all" title="VALIA apartment spacious balcony. Image supplied."><img alt="" class="image-article-full-width-580px" height="297" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.37.51_pm.png?itok=1phBUe7E" title="VALIA apartment spacious balcony. Image supplied." width="580"></a>

<figcaption>VALIA apartment spacious balcony. Image supplied.</figcaption></figure><h2>INTERIORS</h2>

Interiors designed by award-winning firm <a href="/architects/sjb-architects">SJB interiors</a> encapsulate timeless style and elegance, with a palette of French greys, earthy tones and rustic timber finishes. Every aspect of VALIA’s carefully considered interiors inspires low maintenance living, from the seamlessly integrated shelving to the large built-in wardrobes, freestanding bath and effortless indoor-outdoor flow. Attention to detail also elevates this development including thoughtful features such as fluted glass, custom joinery, integrated ovens, LED strip lighting and a modern fireplace to give the home a central feature piece.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.37.42_pm.png" rel="gallery-all" title="VALIA apartment bathroom. Image supplied."><img alt="" class="image-article-full-width-580px" height="301" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.37.42_pm.png?itok=snOl4Ne_" title="VALIA apartment bathroom. Image supplied." width="580"></a>

<figcaption>VALIA apartment bathroom. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.37.24_pm.png" rel="gallery-all" title="VALIA apartment custom fireplace. Image supplied."><img alt="" class="image-article-full-width-580px" height="301" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.37.24_pm.png?itok=q1bOHMP-" title="VALIA apartment custom fireplace. Image supplied." width="580"></a>

<figcaption>VALIA apartment custom fireplace. Image supplied.</figcaption></figure><h2>LIFESTYLE</h2>

Residents will be able to enjoy alfresco meals on their expansive garden terraces in the summertime and host lavish dinner parties utilising their luxurious entertainer's kitchen.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-12-04_at_1.38.10_pm.png" rel="gallery-all" title="VALIA apartment kitchen. Image supplied."><img alt="" class="image-article-full-width-580px" height="301" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-12-04_at_1.38.10_pm.png?itok=qOy4hTdq" title="VALIA apartment kitchen. Image supplied." width="580"></a>

<figcaption>VALIA apartment kitchen. Image supplied.</figcaption></figure><h2>LOCATION</h2>

The north-facing VALIA apartments are located in a coveted corner position, across the road from Woolworths and only a short walk to Ivanhoe Train Station, Darebin Creek, Ivanhoe Plaza, and the Ivanhoe Library. Enjoy hotel-style living moments from Melbourne’s best eateries, boutiques and discover the exceptional lifestyle Ivanhoe has to offer.

This your opportunity to secure one of the 14 exclusive residences in Ivanhoe’s latest low-rise development, enquire today.
</body></html>

VALIA apartments provide downsizers with the perfect lock-and-leave lifestyle in Ivanhoe

<html><body>
Last week, all eleven Woodlea townhomes were snapped up within hours after being launched to market, and by the weekend Yarraville Place had sold 50% of 55 townhomes in the first week of sales. These statistics suggest a high demand for stock in Melbourne’s western suburbs, with buyers ready to move 10-30 kilometres out of the CBD to secure their dream home.

This sentiment follows waves of uncertainty around buying off-the-plan; however, today, there are many reasons why purchasing off-the-plan could be a better time than ever.

Here are five reasons to consider buying a new apartment or townhome.

<ol>
<li>Building regulations are stricter today</li>
	<li>Many home seekers could be eligible for Stamp Duty concessions</li>
	<li>House prices are forecast to increase over the next 12 to 24 months</li>
	<li>Mortgage serviceability has become easier for home buyers</li>
	<li>Finance is more accessible to acquire due to APRA’s loosened lending constraints</li>
</ol>
<h2>Why Woodlea sales were such a success</h2>

Known as Australia’s fastest-growing community, Woodlea has now launched its most affordable product to date – 11 townhomes all of which sold within hours of release.  The two and three-bedroom homes designed by <a href="/architects/dko-architecture">DKO Architecture</a>, with grounds curated by MDG Landscape Architecture, allowed buyers to purchase an architecturally-designed, spacious home for around $339,000, which is rare in today’s market given the average first home buyer loan <a href="https://www.finder.com.au/australian-home-loan-statistics">is about $366,776</a>.

Woodlea’s Project Director Matthew Dean noticed a gap in the market which caters to the need for affordable housing to ease the debt of first home buyers, which is what inspired The Urbanist Collection.

<blockquote>
“It’s unheard of to be able to buy an architecturally designed townhouse that is turnkey ready for under $350,000 so it was important for us to offer a product that catered to the first home buyer market and the loan size in which they can borrow.”
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_urbanist_collection_-_exterior_copy.jpg" rel="gallery-all" title="The Urbanist Collection townhome exterior. Image supplied."><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_urbanist_collection_-_exterior_copy.jpg?itok=hcA43L2a" title="The Urbanist Collection townhome exterior. Image supplied." width="580"></a>

<figcaption>The Urbanist Collection townhome exterior. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_urbanist_collection_-_interior.jpg" rel="gallery-all" title="The Urbanist Collection townhome interior. Image supplied. "><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_urbanist_collection_-_interior.jpg?itok=6mVJog7s" title="The Urbanist Collection townhome interior. Image supplied. " width="580"></a>

<figcaption>The Urbanist Collection townhome interior. Image supplied.</figcaption></figure>The Urbanist Collection is <a href="/developers/mirvac">Mirvac’s</a> latest development within the Woodlea precinct and maintains the high-quality design and functionality synonymous with that of the 711-hectare community. Each home includes luxurious Smeg appliances, 2.5-2.7-metre-high ceilings, spacious living areas, stone benchtops and more.

<blockquote>
“Buyers will be spoilt for choice with a variety of floor plans to choose from, all while being located in the social heart of Woodlea; just 100-metres from the future local Town Centre, an abundance of parks and nearby schools.” 
</blockquote>

Matthew Dean, Woodlea Project Director

Key selling points:

<ul>
<li>Located within walking distance to the local playground, which is found to increase housing values by approximately $20,000</li>
	<li>All townhomes include high-quality appliances, fixtures and fittings</li>
	<li>Townhomes require only a 5% deposit</li>
</ul>
<h2>Why first home buyers are flocking to Yarraville Place</h2>

Property developer ID_Land celebrated a successful opening week of Yarraville Place sales, bringing in a staggering $45 million and selling more than 50% of townhome stock.

ID_Land Joint Managing Director Matthew Belford explained that location was a key driver behind the impressive sales.

<blockquote>
“We think the strength of the sales results to-date indicate that buyers across multiple demographics are back in the market and they’re looking for accessible, premium property in sought-after postcodes like Yarraville. Understanding the demographics of the area, we saw an opportunity to deliver a product that would embrace the character of the location while tapping into the significant demand for three- and four-bedroom dwellings at an affordable price.”
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/yarraville_place_render_1.jpg" rel="gallery-all" title="Yarraville Place townhome exterior. Image supplied."><img alt="" class="image-article-full-width-580px" height="293" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/yarraville_place_render_1.jpg?itok=DjRUkMmx" title="Yarraville Place townhome exterior. Image supplied." width="580"></a>

<figcaption>Yarraville Place townhome exterior. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/yarraville_place_render_2.jpg" rel="gallery-all" title="Yarraville Place townhome exterior. Image supplied."><img alt="" class="image-article-full-width-580px" height="414" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/yarraville_place_render_2.jpg?itok=1GB_ZHsF" title="Yarraville Place townhome exterior. Image supplied." width="580"></a>

<figcaption>Yarraville Place townhome exterior. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/yarraville_place_render_3.jpg" rel="gallery-all" title="Yarraville Place townhome exterior. Image supplied."><img alt="" class="image-article-full-width-580px" height="352" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/yarraville_place_render_3.jpg?itok=erhOznR_" title="Yarraville Place townhome exterior. Image supplied." width="580"></a>

<figcaption>Yarraville Place townhome exterior. Image supplied.</figcaption></figure>Designed by <a href="/architects/rothelowman">Rothelowman Architects</a> with landscaping by Tract, Yarraville Place was a substantial project developed in collaboration with heritage consultant Bryce Raworth. The in-fill development echoes Yarraville’s rich industrial heritage with its sawtooth rooflines, retained Bluestone walls and arched keystone doorframes.

<blockquote>
“The retention of heritage assets throughout the project gives it a very unique and different look and feel.”
</blockquote>

Stuart Marsland, Rothelowman Principal

Townhomes are available in two, three and four-bedroom configurations and buyers can choose from a selection of 10 floorplans.

Key selling points:

<ul>
<li>Multiple floorplan options to suit a variety of buyer needs</li>
	<li>Yarraville is a great inner-west location which saw a surge in popularity in recent years</li>
	<li>The area has undergone significant transformation in terms of commercial development and village upgrades</li>
</ul>
</body></html>

Overwhelming sales statistics last week reveal reinstated confidence in the off-the-plan market

<html><body>
<a href="/new-apartments/island-house-richmond-23-29-bridge-road-richmond">Island House</a>, as the name suggests, is a boutique development on a highly coveted island section which borders the prestigious neighbourhood of East Melbourne and Melbourne’s vibrant suburb of <a href="/new-apartments/richmond-vic-3121">Richmond</a>. The limited collection of homes features seven luxury residences and three full-floor penthouses, all of which boast stunning vistas of the surrounding parklands and a bird’s eye view of Melbourne’s iconic cityscape. Situated within a low-rise heritage precinct means that residents can enjoy uninterrupted views year-round.

The development, to be delivered by <a href="/developers/volume-projects">Volume Projects</a>, has been designed by the talented team at <a href="/architects/pitch-architecture-developments">Pitch Architecture</a> and features carefully considered interiors by award-winning designer, Fiona Lynch. Meticulously crafted interiors bring to life the vision of encompassing all aspects of a calming, tranquil oasis and include soft, organic timber and natural stone textures. All apartments offer plenty of built-in storage and floor-to-ceiling windows for ample light flow throughout every home. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/island-house-inset-3.jpg" rel="gallery-all" title="Island House apartment bedroom. Image supplied."><img alt="" class="image-article-full-width-580px" height="248" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/island-house-inset-3.jpg?itok=A5Vt0ZuN" title="Island House apartment bedroom. Image supplied." width="580"></a>

<figcaption>Island House residence bedroom. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/island-house-inset-2.jpg" rel="gallery-all" title="Island House apartment kitchen. Image supplied."><img alt="" class="image-article-full-width-580px" height="248" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/island-house-inset-2.jpg?itok=AaHiqjS4" title="Island House apartment kitchen. Image supplied." width="580"></a>

<figcaption>Island House residence kitchen. Image supplied.</figcaption></figure><h2>PENTHOUSES</h2>

The penthouses of Island House bring a new vision of statement living to East Melbourne, which is evident from the moment buyers step into their private lobby. Each of the three hyper-luxury homes contains a double-sided feature fireplace, a sophisticated bar area, dedicated wine fridge, 360º panoramic views and opulent vaulted ceilings. Buyers will also be invited to customise their apartments to suit their requirements and personal style.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/int_u5-1_kitchen_final.jpg" rel="gallery-all" title="Island House Penthouse kitchen. Image supplied."><img alt="" class="image-article-full-width-580px" height="181" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/int_u5-1_kitchen_final.jpg?itok=_9QMeLRT" title="Island House Penthouse kitchen. Image supplied." width="580"></a>

<figcaption>Island House penthouse kitchen. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/int_u5-1_ensuite_final_1.jpg" rel="gallery-all" title="Island House Penthouse bathroom. Image supplied."><img alt="" class="image-article-full-width-580px" height="580" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/int_u5-1_ensuite_final_1.jpg?itok=evarVsC-" title="Island House Penthouse bathroom. Image supplied." width="580"></a>

<figcaption>Island House penthouse bathroom. Image supplied.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/int_u5-1_living_final.jpg" rel="gallery-all" title="Island House penthouse living room"><img alt="" class="image-article-full-width-580px" height="145" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/int_u5-1_living_final.jpg?itok=KZyfh4u1" title="Island House penthouse living room" width="580"></a>

<figcaption>Island House penthouse living room</figcaption></figure><h2>LOCATION</h2>

Just 1.5 kilometres from Melbourne’s CBD, Island House provides the perfect retreat from city life, while being centrally located for effortless accessibility. Situated within walking distance to Melbourne’s landmark sporting and entertainment precinct, residents will love exploring all that the neighbourhood has to offer, as well as enjoying sports games and concerts at the MCG and Rod Laver Arena. 

In addition to Island House’s excellent walkability, residents will also be able to access multiple pockets of the city via the world-class tram and train network right at Island House’s doorstep. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/island-house-slider-1-1.jpg" rel="gallery-all" title="Island House location. Image supplied."><img alt="" class="image-article-full-width-580px" height="300" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/island-house-slider-1-1.jpg?itok=dCr36Hpu" title="Island House location. Image supplied." width="580"></a>

<figcaption>Island House location. Image supplied.</figcaption></figure><h2>THE DETAILS</h2>

On offer is a selection of 1, 2 and 3-bedroom apartments, available by private sale from $570,000. Entire-floor luxury penthouses are currently available from $5 million. 

Viewings are now available to interested buyers upon appointment. 

Would you like to learn more about Island House or book a display suite tour? <a href="/new-apartments/island-house-richmond-23-29-bridge-road-richmond">Reach out to the sales agent here</a>.
</body></html>

Introducing Island House: Customisable bespoke apartments in a sought after East Melbourne locale

One of the many great cost benefits of buying off-the-plan is the ability to save on stamp duty fees. Many home buyers have saved thousands by purchasing a new-build home that meets their state’s concession criteria. In this guide, our aim is to help answer all your stamp duty questions and help you identify whether you could be eligible for a concession when you buy your new off-the-plan home.

Firstly, do you pay stamp duty if you buy off-the-plan?

Stamp duty is a mandatory cost associated with purchasing property in Australia. However, because an off-the-plan property is a ‘new build’, buyers may be able to reduce the cost of their stamp duty fees or dissolve the cost entirely. Special rules can also apply to <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">first home buyers</a>, pensioners, and owner-occupiers. To find out which rules apply to you, read on, or check your <a href="#Source">state's revenue website</a>.

When is stamp duty payable on off the plan purchases?

Stamp duty is the taxable amount charged by the State Government for particular transactions including selling assets such as property. This is generally paid to the state revenue office before lodging the title transfer.&nbsp;

How to calculate off the plan stamp duty&nbsp;

Calculating stamp duty varies from state to state and depends on whether you're intending on living in your home or renting it out, as well as the market value of the property. You can use a <a href="https://exactly.net.au/calculators/stamp-duty-calculator/">Stamp Duty Calculator</a> to figure out home much you would be likely to pay for the apartment or townhouse you're interested in. Just bear in mind that you could also be eligible for one of the many concessions available.&nbsp;

How much can you save with off-the-plan concession?

To assist you with your home buying journey, here is a&nbsp;state-by-state guide to understanding some of the concession laws in your city*.

*For an in-depth break down of rules and regulations, visit your state's revenue website.

[smartcode_project:default project_id=5559]

<h2>VICTORIA</h2>

<ul>
	<li>You must pay the market value for your property. If the contract price is lower than the market rate, then you will not be eligible for the concession.</li>
	<li>You must be eligible for the principal place of residence concession or the first home buyer duty exemption or concession.</li>
	<li>Ineligible <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">First Home Buyer Grant</a> applications (who bought property for $750,000 or more) may still be eligible for the off-the-plan concession.</li>
	<li>All purchasers must be over 18, with the exception of purchasers who are the guardian of a person with a legal disability.</li>
	<li>Stamp Duty concessions are not available to company or trustee purchasers.</li>
	<li>At least one buyer must live in the property for at least 12 months from 12 months after settlement/acquisition of the property.</li>
	<li>For contracts signed before 1 July 2017, if you live at the property, you purchased you may be eligible for the principal place of residence duty concession if the dutiable value of your home is $550,000 or less (after adding the off-the-plan concession to your contract price).</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/vic?embeddable=list-map" width="100%"></iframe>

<h2>QUEENSLAND</h2>

[smartcode_project:default project_id=22057]

<ul>
	<li>Home concession is available to buyers when buying a second home</li>
	<li>First home concession is available to first home buyers and is a considerable saving, and sometimes can result in the buyer paying no stamp duty</li>
	<li>First home vacant land concession is a rebate given to those buying bare land to build their first home</li>
	<li>First home buyers can claim both a <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">First Home Owners’ Grant</a> and First Home Buyer Concession if applicable</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/qld?embeddable=list-map" width="100%"></iframe>

<h2>NEW SOUTH WALES</h2>

[smartcode_project:default project_id=7758]

<ul>
	<li>Stamp duty will either be abolished or reduced for first home buyers</li>
	<li>First home buyers may be eligible to <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">receive a grant</a> of up to $10,000</li>
	<li>To qualify for the first home buyer concession, you must be buying your first property (including land) valued at less than $800,000</li>
	<li>Homes must be new and not previously lived in</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/nsw?embeddable=list-map" width="100%"></iframe>

<h2>AUSTRALIAN CAPITAL TERRITORY</h2>

[smartcode_project:default project_id=22017]

<ul>
	<li>Deferred duty: If you’re eligible for the <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">First Home Owner Grant</a> (FHOG), or the Home Buyer Concession Scheme (HBCS) and the duty amount is $1,000 or more, then you may wish to defer your payment</li>
	<li>Pensioner duty scheme: An eligible pensioner who own a residential property and is moving to a home more suitable for their needs (e.g. A townhome), they may be able to reduce the cost of stamp duty payable</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/act?embeddable=list-map" width="100%"></iframe>

<h2>NORTHERN TERRITORY</h2>

<ul>
	<li>Principal Place of Residence Rebate: You may be entitled to receive a rebate of up to $7,000 for any stamp duty paid on a home that is your principal place of residence, that you haven’t claimed a first homeowner discount or grant on</li>
	<li>Seniors, Pensioners and Carers: A stamp duty concession of up to $10,000, so long as one purchaser is over 60 years old and a holder of an NT Pensioner and Carer Concession Card</li>
	<li><a href="/guides/how-to-navigate-australias-first-home-buyer-grants">First Home Owner Discount</a>: A stamp duty concession is available to purchasers of new and existing homes.</li>
	<li>Zero stamp duty is available to first home buyers of a home priced up to $500,000</li>
	<li>A general stamp duty discount of $23,928.60 will be available to first home buyers</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/nt?embeddable=list-map" width="100%"></iframe>

<h2>TASMANIA</h2>

<ul>
	<li>A 50% concession may be available to <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">first home buyers</a> of an old home valued at under $400,000</li>
	<li>A 50% concession could be available to pensioners who sell their former home in Tasmania and downsizes to a new home in Tasmania valued at $400,000 or lower</li>
	<li>These offers are currently only available between the period of 7th Feb 2018 to 30th June 2020 (inclusive)</li>
	<li>Duty exceptions can also be available when a home is transferred from a person to their partner</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/tas?embeddable=list-map" width="100%"></iframe>

<h2>SOUTH AUSTRALIA</h2>

<ul>
	<li>According to the Revenue South Australia website, the off-the-plan concession no longer applies to contracts entered on or after 1 July 2018</li>
</ul>

<iframe frameborder="0" height="500px" src="https://www.urban.com.au/developments/sa?embeddable=list-map" width="100%"></iframe>

<a href="" id="Source" name="Source">Sources</a>:&nbsp;<a href="https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme">ACT Revenue Office</a>&nbsp;| <a href="https://www.sro.vic.gov.au/first-home-owner">State Revenue Office Victoria</a> | <a href="https://www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/transfer-duty-concessions-exemptions">Queensland Government</a> | <a href="https://www.sro.tas.gov.au/property-transfer-duties/concessions-and-exemptions-for-property-transfer-duties/duty-concession-for-pensioners-downsizing-to-a-new-home">Tasmanian Government</a> | <a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/off-the-plan-concession">Revenue South Australia</a>

Disclaimer: While Urban strives to provide accurate content,&nbsp;we do advise that readers undertake their own research and to only use our findings as a guide.&nbsp;

The State-by-State Guide to Australia’s off-the-plan Stamp Duty concessions

<html><body>
One of the most highly-anticipated skyscrapers of our decade, <a href="/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 108</a>, has just achieved yet another construction milestone, reaching its peak core lift height of <a href="/buildings/australia-108-southbank-70-southbank-boulevard-southbank">100 levels</a>.

The <a href="/architects/fk-australia">Fender Katsalidis</a>-designed building is the sister tower to its neighbouring Eureka Tower, which Australia 108's building slab height surpassed earlier this year.  

This remarkable construction feat undertaken by <a href="/builders/multiplex">Multiplex</a> required a series of new building techniques to be developed explicitly for the project due to the unique nature of its design. An example of this is the purpose-build platforms which were installed for builders to install the 12-tonne golden trusses on to create the striking Starburst feature.

<a href="/developers/world-class-global">World Class Global</a> CEO David Ng explains that the unique golden feature will become an iconic hallmark of the Melbourne city skyline. 

<blockquote>
"The arrival of Australia 108's golden Starburst is a distinctive moment in the transformation of Melbourne's skyline for decades to come. I think many Melburnians will look back one day and struggle to remember a time when this golden star wasn't twinkling on our cityscape.”
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-11-28_at_3.30.47_pm.png" rel="gallery-all" title="Australia 108. Credit: Aspial - World Class Land"><img alt="" class="image-article-full-width-580px" height="876" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-11-28_at_3.30.47_pm.png?itok=TinNkvy-" title="Australia 108. Credit: Aspial - World Class Land" width="580"></a>

<figcaption>Australia 108. Credit: Aspial - World Class Land</figcaption></figure><h2>Construction facts at a glance:</h2>

<ul>
<li>The Starburst is made up of 24 trusses (15 metres by 3.3 metres)</li>
	<li>Extensive groundworks took ten months to complete</li>
	<li>Bored piles reach 47 metres underground</li>
	<li>Interiors are slated for completion early next year</li>
	<li>The entire tower is likely to be completed mid-2020</li>
</ul>
<blockquote>
"The installation of the Starburst is a key milestone in the delivery of this iconic tower, and we're delighted to have completed it safely and to an exceptional standard of quality. "It's a very proud moment for the entire Multiplex team to see Australia 108 and its Starburst now standing tall on the Melbourne skyline."
</blockquote>

Graham Cottam, Multiplex Regional Managing Director 

Currently, residents on lower levels of the tower have moved into their new homes, and have access to Level 11 facilities. These <a href="/project-updates/australia-108-amenities">amenities</a> include a fully-equipped gymnasium and pool, a golf simulator, movie theatre and dining room. 

<h2>Other updates:</h2>

<ul>
<li>Over the next few months, owners of the premium Cloud Residences (Levels 72 to 83) will be allowed to move into their homes. </li>
	<li>A new release of 3-bedroom Cloud Residences is now available for sale.</li>
</ul>
</body></html>

Australia 108 reaches 100th floor and achieves new construction milestone 

<html><body>
Next Home Buyers are overtaking First Home Buyer interest in new off-the-plan apartments. So what does this mean for Australia's property market?

As one of Australia's largest off-the-plan property platforms, Apartments.com.au experiences high volumes of traffic to our 8338+ apartment and townhome listings every day. Over the past two months, Urban has recorded exponential growth among Next Home Buyers, who have overtaken First Home Buyers as the most significant active segment in the search for off-the-plan properties. 

At the start of 2019, First Home Buyers were entering the market en masse, due to APRA's loosened lending constraints, a dropping cash rate, and reinstated faith in the off-the-plan market. However, now Next Home Buyers represent over 40% of the total volume of enquiries on Urban, showing a trend which could be likely to progress into the new year. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/_enquiries.png" rel="gallery-all" title="Source: Urban.com.au, Nov 2019"><img alt="" class="image-article-full-width-580px" height="343" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/_enquiries.png?itok=zA8TuT9A" title="Source: Urban.com.au, Nov 2019" width="580"></a>

<figcaption>Source: Apartments.com.au, Nov 2019</figcaption></figure>Next Home Buyer interest wasn't the only statistic that has risen in recent months either. Today, the average value of an off-the-plan home enquired on by a Next Home Buyer currently sits at $873,538, which is 35% higher than the average home value of enquiries made by First Home Buyers.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/value_enquired.png" rel="gallery-all" title="Source: Urban.com.au, Nov 2019"><img alt="" class="image-article-full-width-580px" height="343" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/value_enquired.png?itok=kL0gagx_" title="Source: Urban.com.au, Nov 2019" width="580"></a>

<figcaption>Source: Apartments.com.au, Nov 2019</figcaption></figure>We also took a look at the top suburbs and projects First Home Buyers and Next Home Buyers have been enquiring on in Victoria over the past six months. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/suburbdata_2.png" rel="gallery-all" title="Source: Urban.com.au, Nov 2019"><img alt="" class="image-article-full-width-580px" height="343" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/suburbdata_2.png?itok=C6zy_nbp" title="Source: Urban.com.au, Nov 2019" width="580"></a>

<figcaption>Source: Apartments.com.au, Nov 2019</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/projectsdata_2.png" rel="gallery-all" title="Source: Urban.com.au, Nov 2019"><img alt="" class="image-article-full-width-580px" height="343" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/projectsdata_2.png?itok=HKZrZzBN" title="Source: Urban.com.au, Nov 2019" width="580"></a>

<figcaption>Source: Apartments.com.au, Nov 2019</figcaption></figure><h2>How will these new statistics impact the 2020 property market?</h2>

A newly announced First Home Loan Deposit Scheme will come into effect on 1st of January 2020, which the Federal Government thought would boost first home ownership in Australia. However, Core Logic's Tim Lawless explains that this initiative will not have much of an impact reinvigorating the first home buyer market since the scheme will cap grants after 10,000 applicants. 

<blockquote>
“Looking forward it’s likely first home buyers will reduce as a proportion of overall market activity.  Housing prices are once again rising across most regions of the country while growth in household incomes remain sluggish, which will create renewed housing affordability pressures in markets where home values are rising faster than incomes.”
</blockquote>

Tim Lawless, Head of Research at <a href="https://www.corelogic.com.au/news/first-home-buyer-numbers-are-above-average-across-every-state-and-territory-likely-subside">CoreLogic Asia Pacific</a> 

Without enough financial assistance or affordable homes on the market for first home buyers, experts anticipate that next home buyers will become the strongest competitors as the property market picks up again. 

It is also apparent that <a href="https://www.lifehacker.com.au/2016/10/baby-boomers-own-more-than-half-of-australias-wealth/">baby boomers hold half of Australia's wealth</a>, which explains the rapidly increasing property value statistic as homeowners downsize to low-maintenance, luxury apartments and townhomes.

<h2>According to developers, here is what Next Home Buyers are looking for in a new property </h2>

<blockquote>
"In our Shelley St campaign, the strongest and highest quality leads have been next home buyers. They are the 'been there, done that' type who appreciate good design and value, they are keen to be in the middle of it all in Richmond. More than half the leads (55%) from Urban have been next home buyers, which suits our project well."
</blockquote>

Scott Williams, Sales &amp; Marketing Manager at Oz Property

<blockquote>
"These are your people from the past 10-20 years ago when every purchaser was going big…. Big land, Big house. As technology has now taken over and life is becoming more and more busier, purchasers are now looking for the low maintenance simplistic lifestyle."
</blockquote>

Barry Devenny, Sales Manager at Wonder Property

<blockquote>
<ol>
<li>Location: Walkability to local amenity.</li>
	<li>Resell Value: The buyer may not want a bath/double vanity (etc.), but understand they need to keep it or include it to support future resale value.</li>
	<li>Storage: including inside apartment and in the basement. This needs to be ample! Especially for downsizers of course. We almost oversupply storage and our buyers love it.</li>
	<li>Pet-friendly apartments: All of our Fortis apartments are pet-friendly. This is so crucial in this day and age for so many reasons.</li>
	<li>Ability to customise the design of the apartment: this is a major benefit and reason they are buying off the plan in the first place!</li>
</ol>
</blockquote>

Avalon Nethery, Development Manager at Fortis Development Group

Lead image: Mont Albert Place, credit: INQ Developments/Clarke Hopkins Clarke.
</body></html>

New Urban data shows Next Home Buyer property enquiries overtake First Home Buyer interest

<html><body>
Urban.com.au caught up with Hickory's Managing Director George Abraham following the completion of multiple new developments across Victoria. Abraham discussed successful heritage retrofits, hotel sector growth and what's in the construction pipeline for 2020.

Urban.com.au: Recently you’ve completed many notable buildings in Melbourne including <a href="/developments/box-hill-vic-3128">Box Hill</a>’s first high rise as well as the world’s 4th slimmest tower. How have you found the reception of these developments? 

George Abraham: We are very proud of the work completed on these two landmark developments. The quality of workmanship and finishes is exceptionally high. The reception has been extremely positive for both of these buildings. The façade on Collins House is very well resolved, the interiors are of high quality and the reproduced mouldings in the main lobby, from the original Fitout, look fantastic. On Sky One, the curved, glass façade with LED and the stainless-steel capping add to the impact of the exterior. The 5,000m2 retail area will be completed in March 2020.

U: I understand that the decision to feature a concrete façade on the western side of <a href="/news/upcycling-australia-why-demolish-when-you-can-re-polish">Collins House</a> was a relatively contentious one – what was the reasoning for this decision and what is your opinion about the decision? 

GA: As the builder, we are not part of the decision-making process. We build what has been designed with the materials that have been specified by the architect. The original proposal was for a concrete toned, prefinished cement sheet rainscreen with an inlaid metal herringbone pattern. The removal of this cladding was in part to offset the costs of introducing windows into the façade as part of the planning process. Hickory’s approach was to use precast rather than in situ concrete for this wall and we still achieved a flush inlaid metal finish within the precast panels. Had the wall been in-situ concrete, a rainscreen would have been required, however, given the wall is high-quality precast, cladding over it in cement sheet would not have enhanced the façade.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/20191202_094342.jpg" rel="gallery-all" title="West-facing concrete facade of Collins House. Photo: Nicholas Failla."><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/20191202_094342.jpg?itok=aJ4SCLQt" title="West-facing concrete facade of Collins House. Photo: Nicholas Failla." width="580"></a>

<figcaption>West-facing concrete facade of Collins House. Photo: Nicholas Failla.</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/old-new.jpg" rel="gallery-all" title="L-R: The original building at 446 Collins Street, the new development Collins House"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/old-new.jpg?itok=6EPkyscB" title="L-R: The original building at 446 Collins Street, the new development Collins House" width="580"></a>

<figcaption>L-R: The original building at 466 Collins Street, the new development Collins House</figcaption></figure>U: How do you approach work on buildings with heritage significance, such as Collins House, and how do you maintain its historic integrity? 

GA: We always want to treat historic buildings with respect as they are an important part of our cities and history. For Collins House, we engaged the services of a heritage consultant for the project and we worked with them to ensure that the integrity was maintained.

U: Many of your recent projects have been hotels, have you seen major growth in this sector? If so, why do you think that is? 

GA: We’ve had a 60% growth in hotel projects in the last year. We have five hotel projects underway at various stages of completion, delivering a total of 1,308 keys. Increased hotel construction, specifically in Victoria reflects the state’s 8.2% rise in tourism numbers in the year ending September 2018. Visitor numbers to Victoria reached 82.3 million in 2018, including 28.4 million overnight visitors. It is, therefore, no surprise that Hickory has seen a surge in hotel projects in 2019.

Key projects include:

<a href="/developments/chadstone-vic-3148">Hotel Chadstone </a>

Hickory’s much anticipated Hotel Chadstone Melbourne, MGallery by Sofitel opened on 1st November. MGallery by Sofitel is a key element of Chadstone’s masterplan and strategy to become a destination for travellers seeking world-class shopping, dining, and entertainment facilities. The hotel’s 250 five-star rooms sit over 12 levels, designed by architects Bates Smart. The $130million project for Accor and Vicinity boasts a 5-Star Green Star rating – the first hotel in Australia to do so. The construction of Hotel Chadstone took only 14 months, and the completion date of the hotel was brought forward due, in part, to Hickory’s prefabricated building components such as core walls, prefabricated walls, and proprietary façade system.

<a href="/developments/melbourne-vic-3000">Hyatt Centric </a>

Hyatt Centric, located at 9-27 Downie Street Melbourne, commenced construction in June 2019 and consists of 278 keys over 25 levels. Designed by Architectus, Hyatt Centric Melbourne is the newest iteration of the Hyatt Centric Hotel Series with projects already launched in Hobart and Tokyo.

Holiday Inn Express, Southbank 

Southbank’s newest hotel, the Holiday Inn Express is due for completion in November 2019. Retaining the original 1930s façade on City Road, the Holiday Inn Express is one of the few remaining buildings in the city to feature the distinctive art deco façade detailing. The hotel designed by Reid Campbell consists of 345 rooms over 23 levels. The project aims to achieve a 5-star NABERS performance rating. Levels 8-22 were constructed using Hickory Building Systems, enabling a compressed construction timeline through the integration of structural prefabrication and SYNC prefabricated bathroom pods.

<a href="/developments/melbourne-vic-3000">Holiday Inn Express, Little Collins Street </a>

Currently, under construction, the Holiday Inn Express hotel on Little Collins Street makes the best of a small footprint of only 1,254m2. Designed by Reid Campbell, the development includes two retail tenancies on the ground floor in the hotel vestibule, putting every inch of the site to use. 
The tower above is set back from the 4 boundaries and contains 24 guest levels, totalling 312 suites. Hickory’s prefab construction has accelerated the construction schedule and completion is expected in June 2021.

Mojo Ovolo Hotel 

The Mojo Ovolo Hotel is a boutique hotel of 123 rooms across 6 levels. Designed by Woods Bagot, guests will enjoy aground floor gourmet café on-site in verdant South Yarra. The project is expected to be completed by September 2020 and is located at 230 Toorak Road, South Yarra.

U: Do many projects in your construction pipeline place importance on sustainability? 

GA: A Hickory development and construction project, <a href="/developments/south-melbourne-vic-3205">Market Lane</a> is an innovative office development taking on new design thinking and a focus on sustainability for a more <a href="/news/elenberg-frasers-vicki-karavasil-discusses-market-lanes-biophilic-design-approach">people-centred, biophilic workplace</a>. With extensive landscaped terraces and open-air atrium, the light-filled project is targeting a 4.5 Star Green Star and 5 Star NABERS rating. High-tech building management systems allow occupants to control temperatures and the Caroma Smart Command installed in the bathrooms will monitor water use in real-time. There is also provision for 10 electric vehicle charging stations and electric bike charging and bike storage facilities. The Holiday Inn Express project aims to achieve a 5-star NABERS performance rating. Once certified by the Green Building Council of Australia, Hotel Chadstone will be the first five-star Australian hotel to receive a 5 Star Green Star Design &amp; As Built rating. Currently under construction is Nexus Corporate in Mulgrave, which is also a 5-Star Green Star and 5-Star NABERS energy efficient designed building by Gray Puksand.

U: How influential is Hickory on the choice of building materials used in construction and what are your favourite materials to build with right now? 

GA: As the builder, we simply build what has been designed with the materials that have been specified by the architect. In our experience, we can certainly make recommendations if we feel there is a higher-performing material but ultimately, the architect and our clients have the final word. We love working with glass for façade work. Three of our recent projects, Conservatory, Opera and Sky One all feature glass facades that curve to stunning effect.

U: What are some of the key reasons why you choose to accept a project? 

GA: We are always willing to accept a challenge and look for innovative projects that allow us to disrupt the status quo. One example is the Hawthorn Park project that will see Australia’s first suspended sky pool bridge. We’re excited to bring the architect Rothelowman’s vision to reality. The glass-bottomed swimming pool, designed and manufactured by Myrtha Pools in Italy, spans between two buildings and is a complete commitment to engineering and innovation. Hickory is exploring the newest technology available in order to support the structure and ensure all runs smoothly during the installation.

U: What is your favourite Hickory project to date and why? 

GA: How do you choose a favourite child?! We enjoy all the projects we work on, but most recently, Hotel Chadstone presented Hickory with an opportunity to construct the only five-star hotel outside Melbourne’s CBD and the first five-star Australian hotel to receive a 5 Star Green Star Design &amp; As-Built rating once certified by the <a href="/news/a-greener-future-green-building-council-australia-discuss-climate-change">Green Building Council of Australia</a>. With extensive ground floor lobby, kitchen, bar and restaurant facilities, as well as rooftop pool, bar and dining, this 12 level building spans across 19,000m2. 
Another unique feature of this project is the Chadstone Link, a seamless connection between Hotel Chadstone, Tower One Offices and the retail precinct, designed by Make Architects, and also built by Hickory. The travellators are housed in a glulam timber structure with tensile fabric roofing to make for a tranquil and fashionable route for hotel guests and shoppers to make their way from luxury hotel to Chadstone Shopping Centre.

Lead image: Chadstone Hotel, supplied. 
</body></html>

Hickory's George Abraham discusses heritage retrofits, hotel sector growth and the 2020 construction pipeline

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Olivia Round

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Olivia Round

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News