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A spike in household trade sales across Australia is set to drive the next wave of growth in the industrial and logistics sector, CBRE's latest research reveals.
CBRE's Industrial and Logistics, Q3 2016, MarketView report highlights increased levels of spending on household goods – driven by a national spike in home renovations – is offsetting reductions in manufacturing.
CBRE’s Senior Managing Director, Industrial &amp; Logistics, Pacific, Matt Haddon said the buoyant housing and home renovation market was increasing demand for warehouse space in several markets across the country.
"Greater demand for warehouse space for the occupation of household trade suppliers is increasing competition and supporting rental growth prospects in core markets," Mr Haddon said.
Highlighting the upturn in activity in the household trade sector, Dulux Group, Target, Hickory, Reece, Stanley Black and Decker, Koch Fertiliser and Reece have all taken up significant leases this year, securing a combined 315,890 square metres.
The report shows household trade growth has lifted 5.3 percent in the past 12 months, while increasing home approvals over the same period have also strengthened demand for warehouse space.
Mr Haddon said the underlying strength of Australia's housing sector would continue to be a steady source of growth for the industrial and logistics market.
"Investor appetite for high quality, well leased industrial assets remains strong, with buyers seeking out opportunities in core markets on Australia's east coast," Mr Haddon explained.
“With rents close to the bottom of the cycle, investors are becoming increasingly attracted to the prospect of income growth potential, in addition to the traditional stability that has long been a hallmark of the industrial and logistics sector.”
In the three months to September 2016, $968 million in industrial and logistics assets changed hands – the strongest quarter of this year.
Sales volumes were driven by a number of major transactions in Victoria, including the GM Holden site in Port Melbourne for $130 million and the Coles Distribution Centre in Truganina for $100 million.
Super prime yields meanwhile have continued to compress in Sydney and Melbourne, falling by 40 basis points year on year to 6.3 percent - driven largely by the strength in demand for premium assets.
By comparison, non-core markets such as Perth, Adelaide and regional locations have not witnessed the same compression, with investors remaining guarded and showing a preference for the major eastern seaboard core locations.
CBRE Senior Research Manager Kate Bailey said Australia's industrial and logistics sector was showing evidence of a two-speed market, with rents on the east coast continuing to increase while the resource states of Western Australia and Victoria remained sluggish.
"Melbourne experienced its first quarter of positive rent growth in Q3, recording an increase of 0.8 percent, which was predominantly driven by the northern and city fringe markets," Ms Bailey said.
"Sydney continued to experience rental growth, with 2.0 percent recorded in Q3, however, with a stronger supply pipeline forecast, this level of growth is expected to soften."
Sydney
New South Wales' strong housing market, coupled with an upturn in retail trade, has supported growth in the state's industrial sector.
"Retail trade has been growing consistently, both nationally and in New South Wales. With this comes additional demand for warehousing space in close proximity to residential centres," Ms Bailey said.
"A solid pipeline of infrastructure projects earmarked for the state is also expected to provide a stimulus for industrial occupiers."
During the quarter, super prime net face rents increased 2.0 percent and secondary rents lifted 2.2 percent. The outer west has recorded the strongest growth, with an 11 percent jump for prime assets.
The quarter has also seen strong interest from offshore investors, with Singapore-based Mapletree Logistics Trust securing Altis Property's $85 million portfolio.
Melbourne
Industrial sales so far in 2016 totaled $1.42 billion - 56% greater than in the same period in 2015.
The strong sales pipeline has been underpinned by the sale of Coles distribution centre in Truganina for $100 million on a yield of 5.4 percent and the GM Holden site for $130 million.
Ms Bailey said the sales highlighted the strength of the domestic buyer market.
"Despite strong offshore interest in industrial assets, interest from domestic buyers remains high. Solid sales growth is anticipated for the rest of the year, with continued high levels of enquiry from foreign and local buyers," Ms Bailey said.
During Q3, super prime yields compressed by 17 basis points to 6.0 percent - reflecting the continued demand for high quality industrial assets.
By comparison, yields for secondary assets are continuing to decrease at the same rate as super prime assets, highlighting investors' ongoing search for good returns.
Melbourne industrial rents recorded positive growth for the first time since the June quarter in 2014 – a trend that will continue amid a reduced supply pipeline in the short to medium term.
Super prime rents jumped 0.8 percent in the quarter – underpinned by a 3.6 percent increase in the north – while secondary rents remained unchanged.
Brisbane
Occupier demand for industrial space is being driven by a flight to quality in Brisbane, with tenants increasingly chasing higher quality assets
"Landlords have become more aggressive in attracting and retaining tenants, with incentives edging higher to an indicative 15% - and in some cases, incentives twice this level have been observed," Ms Bailey said.
Super prime yields remained around 6.5% in Q3, with prime yields hovering at 7.4% and secondary yields at 8.7%.
While 2016 sale volumes are down on 2015 - $402 million versus $578 million in the corresponding period – institutional investors are growing portfolios by funding design and construct or speculative development.
"The design and construct, and pre-commitment market is generating the greatest level of activity, with businesses taking advantage of competitive deals in flight to quality areas such as Redbank, Rochedale and Brisbane Airport," Ms Bailey said.
Perth
Consolidation continues to be a persistent trend in Perth's industrial market, with occupiers focused on increasing efficiency and lowering costs.
Industrial rents declined during Q3, with super prime net face rents dipping 4.9% and secondary net face rents lowering by 4.8%.
"The ongoing rental softening in the industrial market directly corresponds to the weaker confidence evident as a result of the cooling resources sector," Ms Bailey said.
Yields remained unchanged over Q3, following yield compression in the first half of the year – driven by the low interest rate environment and lack of supply of well-leased, investment-grade assets in the market.
Adelaide
Adelaide's inner west is emerging a sought after industrial pocket, with low levels of supply in the area underpinning strengthening levels of demand for assets.
Yields remained flat across all markets in Q3, following a period of strong compression, which is reflective of investors seeking out investments that offer better returns relative to risk.
Adelaide's industrial supply pipeline remains strong, with the September quarter seeing 23,310sqm of new space added – the strongest quarter of 2016.
Despite this however, only a small amount of new industrial space is forecast over the next 12 months, which may help to support some rental growth.
Canberra
Canberra's Mitchell industrial precinct is positioned to benefit from the Metro Capital light rail project currently underway, with it underpinning both demand and investment in the space.
"The Mitchell industrial area will benefit from this massive infrastructure project in both the construction phase and the operational phase as operating the rail line will require the employment of these industrial skills," Ms Bailey said.
Canberra industrial rents remained steady in the September quarter, with super prime net face rents at $109 and secondary rents at $75.30.
There has been just one transaction in Canberra's industrial market this year, a multi-use showroom in Mitchell for $6.55 million.
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j.ballantyne1990-6AQqhLzZaK

Home renovation boom drives next wave of industrial growth

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A Victorian mansion in Brighton has been listed with $7 million hopes.
The 1880's home on an elevated 1,275 sqm was restored in 2000 by architect Bruce Trethowan who oversaw the restoration of the Melbourne's Regent Theatre.
Spread over five levels, the <a href="https://www.realestate.com.au/property-house-vic-brighton-123804434" target="_blank">five bedroom, four bathroom family home</a> also features a large wine cellar and a steam room.
There's an enclosed swimming pool and a copper conservatory roof. 
Sherife Olmez and Trudy Biggin at Biggin &amp; Scott have the listing. 
It last traded for $1.1 million in 1995.
 
 
 
 
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Victorian trophy home mansion listed in Brighton 

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A vast townhouse in a former church in Sydney's Paddington is for auction.
Located at <a href="https://www.domain.com.au/265-oxford-street-paddington-nsw-2021-2013158285?utm_source=criteo&amp;utm_medium=cpc&amp;utm_content=dynamic-newsfeed&amp;utm_campaign=c-all-lf_Buy" target="_blank">265 Oxford Street</a> it is without a doubt one of Paddington’s finest transformation.
It is designed by architect Dale Swan of Archer Mortlock Woolley and features a glass lift with a north facing alfresco courtyard.
There are valuted ceilings with king truss exposed and electric skylights for temperature control.
The building still has its original sandstone walls along with Italian Poliform kitchen with miele appliances, marble bench top and ample soft closing storage that will impress anyone.
It also features built-in wardrobes, an intercome, basement car parking and it is all fully furnished.
The property is offered through Black Diamondz.
The historic St John’s church site, one of the most well-known properties on Sydney’s Oxford Street strip, has been transformation into a boutique residential and retail project over recent years.
The site was sold by Savills in 2010 year for $9 million to the developers who have given the historic Paddington landmark a new lease of life.
It was in 1859 when the Gothic-style St John’s church was built to a design by Henry Robertson.
In 1885 it was extended by the church hall at the rear. It was deconsecrated as a Presbyterian church in 2000.
The church sold in 2004 for $8.3 million to a syndicate who offloaded the project in 2010.
It sits within the Sydney City Council municipality.
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St John's Paddington church home for auction

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Since the advent of internet marketing and mobile technology in the 1990s, the nature of buying and selling has been turned on its head, according to McGrath's latest report.
A huge range of digital platforms continue to change the method and pace of real estate transactions, with buyers and sellers more informed and better prepared than ever before and the best agents harnessing innovation to improve their marketing power and service style.
Specialised apps, price predictors, social media, free market research and cheap independent property reports available for purchase online have all worked to benefit the consumer.
Email, SMS, database marketing and big data has enabled agents to better engage with buyers and global property portals have expanded their audience.
A raft of business software and bluetooth gadgetry has increased their efficiency and shortened response times to enquiries.
Real estate technology began with search and has now extended to service.
Consumers want a less stressful experience and are intolerant of agents who can’t provide it.
For example, the experience of opens is changing, with names and numbers still taken at the door but on an iPad that syncs with the agent’s phone and database for more effective follow-up.
Buyers can use apps to pre-register their attendance and skip the queue; and can request and receive a contract via email before they have even left the property.
Scores of small innovations are often quickly superseded.
The evolution of the signboard provides an example – once a simple board, it was then given an overhead light, a QR code, then full background lighting and now touch screen.
Photos on a webpage are no longer enough, with 360-degree photography and fly-through technology providing a more complete perspective and the opportunity to inspect every part of a room.
Location analytics are helping buyers purchase in unfamiliar locations with greater confidence.
Buyers can discover an area’s demographics, traffic data, property developments, points of interest, drive times, walk times and street and aerial views with ease.
And there is so much more to come.
According to CoreLogic’s Future of Real Estate Report, push technology, artificial intelligence, virtual reality and blockchains will be the next big tech trends in real estate.
Push technology will alert home hunters to nearby properties for sale and unlock special content to heighten their engagement.
<a href="/images/2016/10/31/2027.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/2027.jpg" alt="">
Virtual reality will provide an on site experience for off site clientele. VR stations in real estate offices will make open inspections an everyday convenience for buyers.
Artificial intelligence will use algorithms to help buyers search, all the while learning from each interaction to understand what the user really wants in their next home.
Blockchain technology and smart contracts will simplify the transaction process and automate procedures traditionally undertaken by intermediaries like banks and inspectors.
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<img src="/images/2016/10/31/2027.2.jpg" alt="">
Platforms allowing customers to send a single loan request to a multitude of lenders will result in more competition and a better deal on finance for borrowers.
<div>
Technology will undoubtedly continue to raise clients’ expectations and the best agents are meeting this challenge through a more holistic approach, including building long term relationships with their clients and focusing more on ‘outcomes’ over simple sales transactions, the report concluded.
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Technology changing the way real esate is viewed: McGrath

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Canberra is at the bottom of the unit market, according to Herron Todd White’s latest property clock. Sydney is approaching the peak, which is where Melbourne has been for some time.
The property advisory firm's November property clock says that Canberra had recently moved from approaching the bottom of the market to now being at the bottom of the market.
Apartments in Melbourne, Dubbo, the NSW Central Coast, Newcastle and the Gold Coast were at the peak of the market cycle in October.
<a href="/images/2016/11/04/Unit%20clock.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/04/Unit%20clock.png" alt="">
This is also the same for South West WA with Adelaide, Bundaberg, Emerald, Townsville and Whitsundays also being at the bottom of the market.
Places where the unit market is at its peak includes Melbourne, NSW Central Coast, Coffs Harbour, Gold Coast and Newcastle.
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Sydney apartments approaching peak, Melbourne at top and Canberra at bottom: HTW property clock

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Television producer Anita Jacoby has relisted her former Avalon Beach home.
She took the long-held waterfront off the market in May just before winter arrived on the northern beaches.
It has been scheduled for <a href="https://www.realestate.com.au/property-house-nsw-avalon+beach-123942142" target="_blank">November 29 auction</a>. The price guide for 139 Riverview Road is $3.85 million to $4.2 million.
It previously had a price guide of $3.85 million to $4.23 million with LJ Hooker's David Watson.
Jacoby hasn't moved far. Her and accountant husband John Cary spent $5.7 million late last year on a six bedroom waterfront surrounded by tropical gardens.
 Still smitten with Pittwater she said recently that most people don’t realise how beautiful the peninsula is."
“I’ve been all over the world and Pittwater is world class to me.”
Jacoby is best known for her work on Enough Rope and The Gruen Transfer.
Jacob paid $206,000 for the 1021 sqm property in 1985 and commissioned award-winning architect Peter Tout to build the four bedroom home about 20 years ago.
This time round it's been listed by James Baker at Raine &amp; Horne.
This article was first published in the Sunday Telegraph.
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Television producer Anita Jacoby relists Avalon Beach home

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The Brisbane tourism region continues to be challenged by supply additions outstripping demand growth and occupancy levels falling, according to Colliers’ latest hotel report.
The vast majority of transactions have taken place in the leisure destinations of the Gold Coast, Cairns and the Whitsundays.
The largest transactions have been the $80 million sale of the Hotel Grand Chancellor in Surfers Paradise to Challenger on behalf of an offshore investor and the Surfers Paradise Marriott Resort and Spa for $70 million, also to an offshore investor.
According to STR, the resort markets of the Gold Coast and Cairns/Tropical North Queensland continue to benefit from the lower Australian dollar, which is rebounding after the tough trading conditions experienced following the global financial crisis and the high dollar during the mining boom periods.
These destinations are experiencing renewed growth in both domestic and international travellers.
Cairns, in particular, continues to record high occupancies at 83.3% year to date to August 2016, up 5.4% compared with the same period of 2015.
Occupancy on the Gold Coast is similarly up year to date, by 3.7% to 72.2%. Stronger occupancy levels have allowed hotels to lift room rates, with Cairns demonstrating growth of 7.2% and the Gold Coast 5.2% over the year to date period.
These conditions have allowed both markets to achieve the highest RevPAR growth rates over the period in major markets throughout the country at 13.0% for Cairns and 9.1% for the Gold Coast.
Brisbane, in contrast, continues to be challenged by supply growth outstripping demand, with occupancy levels down 1.9% to 70.8% in the year to date.
Room rates continue to come under pressure falling by 6.6% over the period as the new hotels compete aggressively for customers.
As a result RevPAR levels are down 8.4% for the first eight months of the year compared to the same time last year. Source: STR
Many regional markets which had exposure to the mining, gas and the associated infrastructure boom continue to feel the contraction in demand with occupancy and room rates declining.
The Destination Brisbane Consortium (Echo Entertainment Group, Far East Consortium and Chow Tai Fook Enterprises) continue to progress the Queens Wharf Integrated resort development. This project is proposed to include a new casino, retail, residential apartments and approximately 1,100 hotel rooms.
Demolition works on the state government site are anticipated to commence early next year following the relocation of government office on the site to the new 1 William Street tower which is nearing completion.
On the Gold Coast, preparations for the Commonwealth Games in 2018 are progressing, including the construction of sporting facilities and the athlete’s village. Gold Coast Airport has commenced stage one redevelopment works which includes site works, new aircraft parking stands and terminal redevelopment, which is due to be completed in 2017.
The second stage of the Gold Coast Light Rail will connect the existing light rail system at Southport to the heavy rail at Helensvale, construction commenced in July 2016 and is due for completion in early 2018.
"We are aware of 15 further new hotel developments proposed for Brisbane between late 2016 and 2018 (2,760 rooms), and approximately 1,100 additional rooms in 2021 within the Queens Wharf Development," the report stated.
"Over the period from 2013 to 2018 the Brisbane market is forecast to have an addition to supply of over 6,700 rooms, or an increase of over 50%. With new supply continuing to outstrip demand growth, we expect market occupancy levels to continue to come under pressure before bottoming out in 2018-2019. The vast majority of the new room stock is located in the Brisbane CBD and fringe, which is having a greater impact on specific localities," the report stated.
Meriton recently opened a 208 suite serviced apartment operation within a larger mixed use complex at Southport on the Gold Coast. A further two new hotel projects are also under construction (Jewel 300 rooms and the Jupiter’s Casino 80 suite expansion) which are expected to open by 2018.
Jupiter’s has also released a masterplan for its casino precinct to potentially include a further five hotel and/or apartment buildings, including a 700 room hotel and apartment tower.
A number of other hotels are also being proposed for the Gold Coast as either part of larger mixed use developments or as additions to existing complementary facilities, which could lead to additional room stock in the medium term.
The renewed construction of high rise residential apartments on the Gold Coast is also likely to lead to new strata title serviced apartment stock.
There is limited new supply entering the Cairns market apart from the expansion of existing properties given the disparity between current values and replacement cost.
The proposed Aquis Great Barrier Reef Integrated Resort Development has been significantly scaled back and no longer includes a casino component. Timing for the revised proposed hotel, villa and apartment development remains unclear.
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 <img src="/images/2016/11/03/Queensland%20major%20transactions.jpg" alt="">
Demand for major assets has primarily come from Asian based investors and operators, including Singapore, Hong Kong, China and Malaysia. Domestic demand also exists for select and smaller properties that are appropriately priced.
"Trading conditions have softened in the Brisbane market and future supply increases are expected to reduce market occupancy levels and moderate average room rate prospects for the next two to three years," the report stated. 
"We anticipate that the new hotels will gain their fair market share, which will in turn put pressure on value levels, particularly for older and lower grade stock, and will be more pronounced in certain localities. Capital markets, however, appear to be taking a medium to longer term view to asset performance for better quality stock."
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<img src="/images/2016/11/03/Brisbane%20airport%20arrivals.jpg" alt="">
Leisure destinations have typically seen an improvement in demand, trading conditions and value levels.
Hotel pricing on the Gold Coast, particularly at the four star level has seen significant growth over the past two years, with purchasers picking up assets at below replacement cost with a view to future revenue and profitability growth.
Supported by a lower Australian dollar and with minimal supply forecast in the short to medium term, value levels in Cairns are expected to continue to show growth, with some evidence of yield tightening emerging.
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<img src="/images/2016/11/03/Cairns%20airport%20arrivals.jpg" alt="">
Many of the challenged regional markets have experienced a decline in profitability and value levels, with an increasing number of properties being placed on the market under instructions from mortgagees.
This is likely to limit the pricing of property in these markets until the number of distressed assets diminishes or visitor demand improves.
The Brisbane market continues to be reasonably tightly held, with owners taking a wait and see approach to the impact of future supply.
Some owners of lower quality stock, however, may take the opportunity to divest for redevelopment rather than re-invest.
As revenue and profitability continues to be impacted at an individual asset level, some owners may be more motivated to transact if debt servicing becomes an issue.
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<img src="/images/2016/11/03/CBD%20white%20collar.jpg" alt="">
Similar to last year, the majority of transactional activity has been within leisure markets.
Colliers expect longer term owners will continue to consider potential exit strategies in these markets as conditions provide potential trading upside and new buyers emerge.
However, given the significant number of transactions over the past two years the number of owners in this position is significantly reduced.
Activity within regional markets is expected to continue to where trading conditions are favourable and demand proves sustainable.
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<img src="/images/2016/11/03/Brisbane%20accomodation.jpg" alt="">
The Property Council Office market report recorded a substantial increase in the total vacancy rate in the Brisbane CBD from 14.6% to 16.9% in the first half of 2016. However, this was primarily due to the significant net increase in supply of 104,000 square metres, or 4.8%, outstripping increased total occupied floor space of 2.3%. Significantly, this is the first increase in occupied floor space in the CBD since the first half of 2013.
The market will continue to be impacted by the completion of the 1 William Street development, to be occupied by various state government departments, and the subsequent demolition of a number of government office buildings on the Queens Wharf site.
It is expected that the vacancy rate will remain stable in the short term until absorption and withdrawals lead to a decline in the medium term. Colliers Edge is expecting the vacancy rate to peak around 17.5% in January of 2017.
The increasing vacancy levels in the office market over recent years provide insight into the softening corporate hotel demand over this period.
The lower Australian dollar and forecast continued increase in inbound business is expected to support leisure market trading conditions, and as a result capital values and transaction activity.
The Brisbane trading market is expected to continue to be challenged over the next two to three years by the amount of new supply and the perceived impact by purchasers on trading levels.
Transactional activity is expected to continue to be light, however, some owner’s may test market appetite over this period as the supply cycle draws to a close, or are forced to, due to cash flow issues.
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Brisbane accommodation market battling through lower occupancy

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The architecture firm The Buchan Group has design and refurbishment projects underway at three world-class resorts in Fiji.
They are due to open during the next 18 months.
The resorts include the existing Sheraton Resort &amp; Spa at Tokoriki Island and the Westin Resort &amp; Spa in Denarau, along with the new Momi Bay Resort.
The Buchan Group’s Brisbane Interiors Team was appointed to the Sheraton Tokoriki and Westin Denarau resort projects in 2013.
Some of this work has needed to be redone following damage caused by Cyclone Winston earlier this year.
<img src="/images/2016/10/31/The%20Buchan%20Group%20-%20Sheraton%20Tokoriki%20Fiji%20dining%20-%20small.jpg" alt="">
Originally owned by Starwood Hotels, both the Sheraton Tokoriki and the Westin Resort &amp; Spa are now part of Marriott International group.
Buchan also undertook the concept design and refurbishment for the Sheraton Resort &amp; Spa at Tokoriki Island’s existing 3,632 square metres of central facilities and pool areas, as well as the conception of the resort’s new honeymoon suites. The resort is due to reopen on 1 February 2017.
<img src="/images/2016/10/31/The%20Buchan%20Group%20-%20Sheraton%20Tokoriki%20Fiji%20reception%20-%20small.jpg" alt="">
“Since Fiji is one of the world’s most well-known honeymoon destinations, we were tasked to undertake the interior design concept for the resort’s new luxury honeymoon suites,” Davis said.
Construction is expected to be completed soon on the new five-star A$70 million Momi Bay Resort, designed by the Gold Coast team at The Buchan Group.
The 250 room resort, to be operated by Marriott, is located at Momi Bay, 45 minutes from Nadi International Airport.
It will become one of Fiji’s main overwater bure resorts and is centred on a 21 hectare lagoon.
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Fijian resorts reinforce Buchan's Pacific presence

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The market has improved significantly in Canberra with a 7.6% spike in property values over the first eight months of the year compared to a decline of 0.9% for the same period in 2015, according to the latest McGrath report.
Underpinning this growth is an undersupply of houses for sale; greater stability in the federal government following many years of unrest; and a very low unemployment rate of just 3.6%, boosted by the lifting of a two-year hiring freeze in the public service in mid-2015.
There is a distinct new confidence in the marketplace following the federal election, their latest report advised.
Canberra is always directly affected by elections because one in three workers are employed in the public service.
Unlike the last federal election, there was no threat of mass job cuts on either side of politics, so the market maintained its momentum during the long campaign.
The Coalition’s return meant continuing stability for government employees; no changes to negative gearing or capital gains; and a tax cut that would benefit a large proportion of residents, who are among the highest paid workers in the country.
Opens have been well-attended and auction clearance rates for houses have remained just shy of 70% for the 12 months to June 2016, according to Domain research.
Interest rate cuts are no longer having a stimulatory effect, with buyers now used to record lows.
However, young couples and families are leveraging rates to stretch their budgets further and buy in premium locations close to the best schools.
The $1 billion ‘Mr Fluffy’ buyback and demolition of 1,022 homes across 56 suburbs by 2018 continues having a big impact on the market.
Approximately 260 homes have already been demolished with 176 scheduled for demolition between July and December 2016.
The scheme has displaced hundreds of families who all need to buy or rent.
They have been paid well for their homes and the stamp duty concession on their next purchase is giving them extra buying power and the ability to buy quickly and compete strongly at auction.
Some are staying in their area, others are upgrading elsewhere.
For example, many Mr Fluffy sellers in Belconnen are heading to nearby Gungahlin where they can purchase bigger, newer homes.
Meanwhile, the incredibly rare opportunity to buy vacant land in premium established suburbs following the demolition of Mr Fluffy homes is really exciting buyers.
The first 10 blocks were taken to auction in April. Among the sales was a block in Pearce for $605,000 and one in Chapman for $610,000 – both close to the city’s median house price of $607,000.
This signalled to other home owners just how valuable their land has become due to limited release of new supply in recent years.
<a href="/images/2016/10/31/Canberra.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Canberra.jpg" alt="">
Original housing stock in Canberra’s prized inner north and south is more than 60 years old and due for an overhaul.
Owners are realising the best way to capitalise on their land value is to re-build and families are out in force looking for knockdown opportunities in prime locations.
Downsizers are among these buyers, with many not ready for apartment living.
Townhouses are hard to find so many downsizers are looking to build dual occupancies instead – sometimes in joint venture deals with friends.
The Over 60s Home Bonus Scheme provides downsizers with a market advantage due to a substantial discount on stamp duty.
"On a $660,000 purchase, just $20 is payable. We are finding that many people are still unaware of this opportunity but once informed they feel incentivised to sell," the report stated.
Canberra’s apartment oversupply continues, comprising 51.2% of all homes for sale, according to CoreLogic RP Data. However, property values and rental yields are holding up well.
The median apartment price has risen 1.7% in calendar year 2016 and rental yields are among the highest in the country at 5.1%.
The rental market is being supported by extra demand from Mr Fluffy sellers as well as usual strong demand from young workers, students at two universities and public service contractors who do not want to settle in Canberra permanently.
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<img src="/images/2016/10/31/Audi%20Canberra.jpg" alt="">
John McGrath's top suburb picks in the ACT:
1. Kambah
Underrated and prime for growth, Canberra’s largest suburb with 6,140 homes offers better value than Woden and Weston Creek and a diverse range of properties. Centrally located, it is the most northern suburb of Tuggeranong with good access to arterial roads for the CBD commute.
2. Curtin
Big money is being spent in Curtin, which has undergone a changing of the guard over the past few years. Ex-government housing has been sold off, knocked down and re-built and family buyers priced out of Deakin, Hughes and Garran have bought and renovated.
3. O’Connor
Adjoining Turner where houses are in very short supply, O’Connor offers great value. However, strong buyer demand has made it Canberra’s number one suburb for growth in FY2016, with house prices rising 21.5% to a median of $960,000 and apartment/townhouse values up 15.3% to $490,000.
4. Franklin/Harrison
Sitting on opposite sides of Flemington Road, the main arterial road leading out of Gungahlin to the city, these two suburbs will directly benefit from the new light rail. Both are family-oriented neighbourhoods with good schools and close proximity to the CBD.
5. Cook/Aranda
These two suburbs are well positioned to benefit from Belconnen’s gentrification. A lot of new townhouses and apartments are being built in the area, creating residential precincts with great amenities including shops, restaurants and cinemas.
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Canberra property market significantly improved since federal election: McGrath

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Keysborough and Springvale takes joint top spot as the fastest growing suburbs for price rises in Victoria, according to Investar’s latest market report.
The property investment firm states that both Springvale and Keysborough house prices jumped by 29% throughout the year.
This is followed by Morwell with 20% and Doncaster with 19%.
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Suburb
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Bedrooms
</td>
<td valign="top" width="106">
Median listing price
</td>
<td valign="top" width="106">
1 year change
</td>
</tr>
<tr>
<td valign="top" width="106">
Keysborough
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$675,500
</td>
<td valign="top" width="106">
29%
</td>
</tr>
<tr>
<td valign="top" width="106">
Springvale
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$600,000
</td>
<td valign="top" width="106">
29%
</td>
</tr>
<tr>
<td valign="top" width="106">
Morwell
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
$313,000
</td>
<td valign="top" width="106">
20%
</td>
</tr>
<tr>
<td valign="top" width="106">
Doncaster
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
$1,190,000
</td>
<td valign="top" width="106">
19%
</td>
</tr>
<tr>
<td valign="top" width="106">
Mornington
</td>
<td valign="top" width="106">
4
</td>
<td valign="top" width="106">
$840,000
</td>
<td valign="top" width="106">
17%
</td>
</tr>
</tbody></table>
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-keysborough-123230634" target="_blank">87 Kingsclere Avenue</a> at Keysborough (above) was recently sold for $685,000. The auction price guidance had been $530,000 to $580,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-springvale-123617286" target="_blank">7 Davey Court</a> at Springvale (below) was recently sold for $630,000 within a week of its marketing.
<img src="/images/2016/11/01/7%20Davey%20Court.jpg" alt="">
</body></html>

Keysborough and Springvale are Victoria's top house price growth suburbs: Investar

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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