<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

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.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

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.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<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.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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EXPERT OBSERVER
The RBA cut the cash rate to 1% and signalled that they will continue to adjust monetary policy if needed.
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As we expected, the Reserve Bank Board lowered the cash rate by 25bps to 1.00% at its July meeting. The motivation for this move is very much focussed on the labour market as was clearly indicated by the Governor’s recent speech.
In the decision statement, he pointed out that employment growth has been strong, the labour force participation rate is at a record level, the vacancy rate remains high, and there are reports of skill shortages in some areas. On face value, this would not be consistent with a concern about the labour market. But the Governor is now clearly focussing on spare capacity in the labour market, and that is measured by the unemployment rate, the underemployment rate, and wages growth. He believes that the Australian economy should be making more progress in reducing spare capacity and therefore a lower cash rate is consistent with that belief.
As we highlighted in our report last week, it seems likely that the RBA growth and inflation forecasts for 2020 that will be released in the August Statement on Monetary Policy, which will follow the August Board meeting, will be unchanged from the May forecasts of 2.75% for GDP growth and 2% for underlying inflation. This further emphasises the importance of the labour market in driving the policy response in June and July.
The critical final paragraph in the Governor’s Decision Statement leaves open the possibility of further stimulus. He notes that the Board “will continue to monitor developments in the labour market closely and adjust monetary policy if needed”. However, the degree of urgency that was certainly detected in the Governor’s recent speech and the June Board minutes appears to have eased. Consequently we remain comfortable with our view that there will be no follow up move in August.
Readers will be aware that Westpac was the first forecaster in the Bloomberg survey to call the cash rate below 1% (May 24). We predicted a final cash rate move to 0.75% by November, but highlighted that there were downside risks to 0.75%. Last week, we also noted that with the likely decision to cut in July, these downside risks had intensified. For now, we remain comfortable with our forecast that the next rate cut will occur in November, by which time the growth, inflation and labour market environment will not have improved sufficiently to satisfy the RBA. Indeed, by the November Statement on Monetary Policy, we expect that the RBA will have to lower its growth and inflation forecasts and raise its unemployment forecast for 2020, requiring a further policy response.
Critical issues between now and November will be evidence around the path of the unemployment rate, and the impact of this recent movement in the cash rate on financial conditions and the profile of the Australian dollar. The task of lowering the Australian dollar has recently been impacted by headwinds associated with general rate cuts by other major central banks around the world. However, without the RBA cuts, the Australian dollar may well have unhelpfully lifted.
As we noted last week, the intense focus on the labour market - where monthly updates are available - changes the historic pattern of policy adjustments. This has been exemplified in the June and July movements, and means that every month, certainly out to the end of 2019, will be live for policy. Issues that will also provide the RBA with reasons for caution will be around fiscal policy developments, particularly implications for household disposable income; the response of the housing market to the two rate cuts; and whether the consumer responds to tax cuts and lower rates with a robust spending appetite over the course of the second half of 2019.
Conclusion
When Westpac originally forecast two rate cuts in 2019 back in February, markets were only positioned for one cut by March 2020 and most major forecasters were still calling rates higher or on hold. We are therefore pleased to see that the forecast has proved to be correct. We were also the first forecaster to nominate a terminal cash rate lower than 1% (May 24), and that outlook has now been embraced by the market and most other forecasters. However with policy now in play at every Board meeting between now and the end of the year, uncertainties around specific timing are inevitable.
Our current view of one more cut this year by November has downside risks for potentially two, and developments over the next few months will determine that outcome. If the RBA were to lower the cash rate to 0.5% and still be dissatisfied with the excess spare capacity in the labour market then we expect that they will consider putting pressure on governments to loosen fiscal policy, as well as exploring other alternative policies that the RBA itself can embrace.
BILL EVANS is the Chief Economist at Westpac
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bevans-rYk9SxEa4r

July RBA cut was primarily for the labour market: Westpac's Bill Evans

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A 2.5 acre lot in Dalby, a town in the Darling Downs region of Queensland, which has been sold for a $145,000 loss six years on.
The property sold for $115,000, less than 45% of what it transacted for in 2013.
Peter Forbes of Property Centre held the listing.
Lot 12, Branch Creek Road is a full fenced lot on the outskirts of town.
All that currently resides on the property is a concrete base shed with electricity.
Last sold in Febrary 2013, the holding changed hands for $260,000.
The property has been listed for sale since December 2015, originally with an asking price of 180,000.
That asking price was first reduced to $150,000 in October 2018, and again in February 2019 to $120,000.
<img src="https://www.urban.com.au/images/2019/7/3/Dalby%202.JPG" alt="">
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Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, and <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>.
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j.ballantyne1990-6AQqhLzZaK

Bargain property in Dalby? Residential lot sold for less than half previous sale price

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The Star Gold Coast, located on Broadbeach Island, is expanding with developers fast-tracking the residential sales launch of its second mixed-use tower.  
The 63-storey, $500 million development will feature 457 residential apartments, 210 five-star hotel rooms and an array of world-class amenities. 
The second tower is the highly anticipated next stage of The Star Gold Coast’s multi-billion-dollar transformation of Broadbeach Island, following the start of construction on the first mixed-use tower, featuring the Dorsett hotel and a residential component known as ‘The Star Residences Gold Coast’. 
The first tower, which began construction in November 2018, comprises 423 residential apartments and is now 92% sold out – making it the fastest-selling residential project in Queensland since launching 19 months ago.  
The two mixed-use towers are being delivered by the same partners building the $3.6 billion Queen’s Wharf Brisbane integrated resort development in Brisbane’s CBD. 
This consortium – comprised of The Star Entertainment Group, Far East Consortium, and Chow Tai Fook Enterprises Limited – has a combined portfolio of more than $6 billion in projects currently planned or underway within Australia. 
Far East Consortium is also spearheading the $2.4 billion West Side Place mixed-use development in Melbourne, delivering 2600 apartments across four towers with the first two towers almost sold out.
Construction of its first tower is underway with the second set to commence next month, following the recent award of its $660 million construction contract.  
Far East Consortium National Sales and Marketing Manager Lauren Sheldon said the decision to fast-track the sales launch of tower two is testament to the demand for real estate on Broadbeach Island, and a vote of confidence in the Gold Coast market. 
"Our consortium aims to invest – through The Star Gold Coast masterplan – an additional $2 billion-plus into embedding the complex and Broadbeach Island as one of the southern hemisphere's largest tourism, entertainment, and lifestyle precinct, and it is clear from the residential sales success of the first tower that buyers are on board with this vision," Sheldon said. 
"The Gold Coast is ripe for this type of development activity, supported by $13 billion in major infrastructure projects recently completed, planned, or underway in the city.  
"We're releasing the second tower to the market, with construction expected to commence in mid-2020 and completion anticipated about 2024.  
"We are confident its high-end residential appeal, premium amenity, and enviable location within the integrated resort development will be extremely attractive to prospective purchasers." 
The latest tower will feature one, two, and three-bedroom residential apartments across the upper 43 levels including an exclusive two-level resident-only recreation deck boasting a sun lounge and yoga deck; a 23.5 metre lap pool; barbeque areas; sauna and steam room; space for a kids’ club; a gymnasium; and private dining rooms. 
One-bedroom apartments, ranging in size from 55 square metres to 64 square metres, will be priced from $486,000.
Two-bedroom apartments, ranging from 71 square metres to 106 square metres, will be priced from $692,000.
Three-bedroom apartments, ranging from 112 square metres to 168 square metres, will be priced from $1,295,000.
Residents will be able to choose from two different apartment colour schemes and each residence is designed to maximise views and coastal breezes.  
The Star Entertainment Group Managing Director and CEO Matt Bekier said the new tower’s hotel and lifestyle offering will further underpin Broadbeach Island as a world-class tourism, leisure, and entertainment destination for visitors to the Gold Coast. 
"Through the latest tower, The Star Gold Coast will offer four hotels on Broadbeach Island – more hotels than any other integrated resort in Australia,” Bekier said. 
“The new five-star hotel will feature 210 rooms and will take the overall hotel accommodation supply on Broadbeach Island to almost 1200 rooms and suites across the four hotels.  
"Starting from level seven and spanning 12 levels, the new hotel will sit above a six-level podium featuring an active retail concourse, and will provide direct connectivity to The Star Gold Coast's other hotel and residential offerings. 
"The second tower’s retail offerings, when combined with tower one, will feature more than 12,050 square metres of retail and resort amenities.  
"These amenities include one of the southern hemisphere's most luxurious day spas and wellness centres; a cafe and wine bar with views to Broadbeach and Coolangatta; an exciting nightlife venue; and speciality lifestyle services including a boutique hair and nail salon, floral services, and a fine food market.”  
An additional sub-tropical recreation deck for use by residents and visitors will connect to The Star Gold Coast, and is designed to create a world-class rooftop experience. 
A large lagoon pool, sundecks, private cabanas, alfresco dining areas, plazas, waterplay, subtropical gardens, function lawns, and outdoor spaces will bring the iconic landmark to life. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/30/FAR1476_StarIRDGoldCoast_S010_EXT_Hero_Final.jpg" alt="">
Sheldon said while residents will be able to enjoy living within an integrated resort, the apartments are designed for privacy and seclusion. 
"Residents can choose to immerse themselves in the plentiful opportunities that come with living in an iconic lifestyle destination – or they can enjoy the quiet, private, and secluded environment also on offer. They really do get the best of both worlds," Sheldon said.  
"The residents-only recreation area has been carefully designed to provide seclusion, comfort, and functionality by combining intimate spaces within a lush, subtropical garden setting that offers 360-degree views of the Gold Coast skyline. The dedicated lobby and lifts will allow residents to feel like they have own private retreat in the sky. 
"The latest tower will be the pinnacle of luxury integrated resort living on the Gold Coast. With its enviable location and connectivity to the G:Link Light Rail, designer shopping at Pacific Fair, and proximity to all the action and major events at the adjacent Gold Coast Convention and Exhibition Centre, we are expecting solid interest from owner-occupiers and investors from the Gold Coast, interstate, and internationally."
The latest tower will be positioned south of the Dorsett hotel and The Star Residences Gold Coast apartments tower currently under construction, and will provide hundreds of car parks. Dedicated bicycle spaces will also be available for residents. 
In addition to the construction of the Dorsett hotel and The Star Residences Gold Coast apartments tower, The Star Gold Coast’s transformation to date includes a refurbishment of The Star Grand’s 596 hotel rooms; the opening of a new luxury 56-suite hotel, The Darling; 12 new food and beverage experiences; a new day spa and fitness centre, Azure Spa &amp; Fitness; and additional meeting room space and refreshed conference facilities in the Event Centre.  
A further three towers are planned as part of The Star Gold Coast’s approved $2-billion-plus masterplan for Broadbeach Island.
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The Star Gold Coast launches second residential tower

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EXPERT OBSERVATION
Australian capital city dwelling prices fell by just 0.1% in June, according to CoreLogic.
This marks 22 months of consecutive price declines since prices peaked in September 2017.
This has left prices down 8% from a year ago and they have fallen 10.2% from their September 2017, high which is worse than their GFC decline of 7.6%. 
The pace of monthly capital city average declines has slowed progressively from 1.3% in December to now just 0.1%, with Sydney and Melbourne actually seeing small price gains in June which along with Hobart helped offset quite steep price falls in all the other capital cities.              
Sydney dwelling prices rose 0.1% their first gain since July 2017 after a 14.9% top to bottom fall (which was their worst fall since the early 1980s recession) and Melbourne prices rose 0.2% which is their first gain since November 2017 after an 11.1% top to bottom fall (which was their worst fall in the period since 1980)
Perth prices fell another 0.7% and are now down 19.8% from their 2014 high and Darwin prices fell another 0.9% and are down 30.1% from their 2014 high.
Prices also fell in Brisbane (-0.6% in June and down 2.9% for their recent high), Adelaide (-0.5%) and Canberra (-0.9%). Hobart was the only capital city to see a gain (+0.2%). 
All capital cities have seen prices fall over the last three months.
 <img src="https://www.urban.com.au/images/2019/7/1/falling%20capital%20city%20home%20prices%20.png" alt="">
Source: CoreLogic, AMP Capital
The combination of the election result which removed the threats to negative gearing and the capital gains tax discount, RBA rate cuts, and the relaxation of the 7% mortgage rate serviceability test have helped provide a bounce in home buyer demand.
With Sydney and Melbourne likely to have suffered the most under Labor’s proposed tax changes – because they have a greater share of investors in their property markets - they have seen the biggest benefit from the election result.
This is also evident in a continuing improvement in auction clearance rates in those two cities where June was the best month since September 2017 in Sydney and the best since February last year in Melbourne.
 <img src="https://www.urban.com.au/images/2019/7/1/auction%20clearance%20rates.png" alt="">
Source: Domain, AMP Capital
This is consistent with revisions to our home price forecasts after the election which revised the expected top to bottom fall for national capital city average home prices to 12% (from 15%) mainly due to upwards revisions to price forecasts for Sydney and Melbourne.
However, while home prices may now be at or close to the bottom they are likely to remain constrained and downside risks remain.
The situation today is very different to 2011 when the RBA first started to cut rates in this interest rate cutting cycle which in turn helped unleash booming conditions in the NSW and Victorian economies and rapid debt growth made easy by somewhat lax bank lending standards against a backdrop of undersupplied property markets all of which fuelled rapid growth in Sydney and Melbourne property prices.
By contrast today, household debt to income ratios are much higher, bank lending standards are much tighter such that a return to rapid growth in interest only and investor loans is most unlikely, the supply of units has surged pushing Sydney’s rental vacancy rate well above normal levels and unemployment is likely to drift up as overall economic growth remains weak.  
So while capital city average prices are likely to bottom by year end, we don’t see a return to boom time conditions but rather expect broadly flat home prices through 2020.
 <img src="https://www.urban.com.au/images/2019/7/1/home%20prices%20.png" alt="">
Source: CoreLogic, AMP Capital
Rising unemployment will be the key to watch. We expect unemployment to drift up to around 5.5% by year end and then to around 6% through next year, but a sharper rise could result in forced property sales and another leg down in property prices.
This is not our base case but is the key risk in terms of the property outlook.
Much higher unemployment is something the RBA is keen to avoid – in fact it wants unemployment to fall to 4.5% or below – so our view remains for a rate cut tomorrow (or if not then in August) and further cash rate reductions in November and February next year taking the cash rate to 0.5%.
Shane Oliver is Head of Investment Strategy and Chief Economist at AMP Capital.
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soliver-smf6LQXgW9

Expect property prices to remain constrained: Shane Oliver 

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Figures released by SQM Research reveal national residential property listings declined by 5.8% in June 2019 to 325,404 from 345,516 in May 2019. Year-on-year listings were also down by 1.8%.
All states experienced a decline in property sales listings over the month, with Melbourne and Sydney experiencing the highest decline at 10.8% and 10.7% respectively.
Hobart was not far behind with a 9.4% decline, followed by Canberra with a 9.0% decline. Darwin recorded the lowest decline at 1.3%. 
Year-on-year Sydney’s listings declined by 9.8%. Canberra’s year-on-year listings increased by 12.5%, the highest percentage increase in the nation, followed by Melbourne with an increase of 5.7% and Hobart with a 4.8% increase.
<a href="https://www.propertyobserver.com.au/images/2019/7/2/property%20listing%201.png" target="_blank">Click here</a> to enlarge:
 <img src="https://www.urban.com.au/images/2019/7/2/property%20listing%201.png" alt="">
Source: SQM Research
Christopher noted it was not unusual for listings to decrease in June, the start of the colder winter months.
"Also, with falling house prices in recent months, most vendors have preferred to wait and watch," he said. 
"The modest rise in asking prices in most cities could be a result of reduced stock levels and also increasing buyer confidence due to multiple factors including the Coalition victory, the RBA cash rate cut in June and the relaxation of mortgage lending rules by APRA."
With further RBA rate cuts expected, we could see increases in property listings in coming months, he suggested.
"Massive monthly falls in recorded listings usually spells higher absorption rates and vendors withdrawing for higher future prices," he added.
Asking Prices
Capital City asking prices increased marginally by 0.4% for houses and 0.8% for units, over the month to 2 July 2019. Unit asking prices are now $563,600 and houses $908,900. Compared to a year ago, the capital city asking prices posted declines of 5.4% for houses and 3.1% for units.
Darwin was the only capital city to record decreases over the month in both houses and units, at 1.5% and 0.2% respectively.
Sydney’s property prices appear to have made a modest turn around and have now posted increases of 1.0% for houses and 1.3% for units over the month, after two years of cooling prices. Sydney’s 12 month decline is 8.1% for houses and 4.8% for units. A house in Sydney is now priced at $1,236,200 and a unit is $692,900. 
Perth, Adelaide and Hobart’s house and unit prices have also increased marginally over the month.
Melbourne’s house prices have increased by 0.3% over the month, however unit prices show a minor decline of 0.3%.
<a href="https://www.propertyobserver.com.au/images/2019/7/2/sqm.png" target="_blank">Click here </a>to enlarge: 
<img src="https://www.urban.com.au/images/2019/7/2/sqm.png" alt="">
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Property listings declined in June 2019: SQM Research

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EXPERT OBSERVER
The correction in Australian dwelling prices that has been running since late 2017 may have ended. 
The CoreLogic home value index, covering the eight major capital cities, dipped 0.1% in June to be down 8.0% over the year – still weak but marking the first month to month improvement in the annual growth rate since its peak at +11.3%yr in mid 2017.
<a href="https://www.propertyobserver.com.au/images/2019/7/1/westpac%201%20.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/westpac%201%20.jpg" alt="">
Sydney and Melbourne both recorded their first monthly price gains since the correction began in 2017. However, prices continued to slip elsewhere with most other capital cities showing a deterioration over the last three months.
Melbourne dwelling prices rose 0.2% in June, paring the annual pace of decline back to 9.2% over the year. Units are leading the turnaround, prices in this segment up 0.7% over the last two months. Prices in the top 25% of properties by value also outperformed slightly, albeit coming off more material declines through the correction.
Sydney dwellings recorded a 0.1% price gain in June, the annual pace of decline slowing to 9.9% over the year. The gain here centred on the middle and top tiers of the market which have moved through a more material correction over the last two years. Units slightly outperformed.
<a href="https://www.propertyobserver.com.au/images/2019/7/1/westpac%202.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/westpac%202.jpg" alt="">
Other major markets were considerably weaker in the month, Brisbane, Perth and Adelaide all recording monthly price declines and accelerating annual rates of contraction. 
Perth's long-running correction is showing few signs of reprieve, prices down 0.6% in the month,  and 9.1% over the year. 
Brisbane, which was stable through 2018, has continued to see modest but worsening price slippage in 2019, prices down 0.6% in the month, and 2.6% over the year. 
 Adelaide has also slipped into a slight correction, prices down 0.5% in the month, and 0.3% over the year.
Conditions were mostly soft cross the smaller markets as well: Canberra down 0.9% in the month, lowering annual growth to just 1.4% over the year; Darwin down 0.9% in the month, the long-running correction re-accelerating to 9.6% over the year (a similar theme to Perth); but Hobart recording a 0.2% gain in the month holding annual growth in positive at 2.9% over the year. 
Overall, the weakness still evident in other markets takes some of the gloss off the clear improvement showing through in Sydney-Melbourne.
<a href="https://www.propertyobserver.com.au/images/2019/7/1/westpac%203.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/westpac%203.jpg" alt="">
 
It also cautions against putting too much emphasis on the improving tone from weekly auction results which are not representative of conditions outside of these two markets.
The contrasting performance of the major cities may be an indication that swings in investor demand around the Federal election have been key – this segment tends to be more active in Sydney and Melbourne – and that other factors such as those around affordability, credit availability and borrowing capacity may still be weighing on owner occupier demand.
The finance approval data should shed some light on this in coming weeks.
The mix should become more balanced over the the second half of 2020 lower interest rates and a likely relaxation in regulatory guidelines for loan assessments comes through.
For the record, Westpac expects dwelling prices to remain patchy in 2019, with a stabilisation showing through more clearly in 2020.
Any rebound in prices before then is likely to quickly run into affordability constraints.
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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/property%20value%202.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/1/property%20value%203.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/property%20value%203.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/1/property%20value%204.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/property%20value%204.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/1/property%20value%205.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/property%20value%205.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/1/property%20value%206.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/property%20value%206.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/2/auction%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/2/auction%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/2/real%20price.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/2/real%20price.jpg" alt="">
 
MATTHEW HASSAN is a Senior Economist for Westpac
</div>
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Matthew_Hassan-HHWHptmrw4

Is the dwelling price correction over? Matthew Hassan

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A year on from a peak market purchase of a central Geelong property, vendors made a $57,000 loss.
Situated at <a href="https://www.realestate.com.au/property-house-vic-geelong-131241250">46 Bourke Crescent, Geelong</a>, the home previously sold for $780,000 in June 2018.
It sold at auction last month for $722,500.
Four bidders competed for the three-bedroom Victorian-era house 
<div class="wp-caption"><img class="size-full wp-image-487915" src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2019/06/22145813/capi_e575c6e0cb21b10a3b33768374beff68_be88f36d6cf7bde8f152f65eb5cf6dc1.jpeg" alt="" data-capiid="be88f36d6cf7bde8f152f65eb5cf6dc1"></div>
<div class="wp-caption"> </div>
<div class="wp-caption">The new owner plans to renovate 46 Bourke Crescent, Geelong. </div>
It passed in for $715,000 and sold immediately afterwards during negotiations with a local buyer.
McGrath, Geelong agent David Cortous said the result was a snapshot of how some segments of the market had changed over the past year, although the trend was not reflected across the board.
“If you sold in winter last year that was the top of the Geelong market,” Mr Cortous said.
“Things have probably settled back from the highs of last winter," he told realestate.com.au.
Property Observer advises it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
</body></html>

Bargain property in Central Geelong? Sale price dips after one year

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A four bedroom, two bathroom Glenmore Park, New South Wales, mortgagee home has been sold.
The property transacted for $607,000 at a July 29 auction.
Geoffrey Blaauw and Hayden Green of ResponseRE marketed the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-glenmore+park-131340562" target="_blank">22 Woodlands Drive</a>, the property features a two car garage.
Set on 660 sqm, it's located near shops, schools, public transport and other amenities.
Throughout 2015 and 2018 the property was offered as a rental at $500/pw.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/glenmore-park-nsw-2745">Glenmore Park</a> is $735,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 6.8%. 
</body></html>

Four bedroom Glenmore Park, NSW mortgagee home sold

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
<img class="size-full wp-image-488233" src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2019/06/24070101/capi_59ceac5b4ce2459660fd073c5ab81358_78dab1edf43fe3f72f94e3f6cf110f95.jpeg" alt="" data-capiid="78dab1edf43fe3f72f94e3f6cf110f95">
A two million dollar discount is on offer for high-profile sport and entertainment manager Ralph Carr’s luxury Hawthorn home.
The grand home at <a href="https://www.realestate.com.au/property-house-vic-hawthorn-130923986">26 Shakespeare Grove</a> was originally listed for $12 million to $13.2 million but the price guide has now been adjusted to $10 million to $11 million.
Abercromby’s director Jock Langley said the initial expressions of interest campaign did not reach a level that would satisfy vendor expectations.
“We have realigned the assessment of value to reflect where we are confident there is buyer interest,” Mr Langley said.
The Victorian mansion is now going to private auction on August 10.
Carr paid $7.55 million for the sprawling 1,318 sqm property in 2013.
<img class="size-full wp-image-488232" src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2019/06/24070056/capi_59ceac5b4ce2459660fd073c5ab81358_1bea73a44a309eec0b29246b1f43c47f.jpeg" alt="" data-capiid="1bea73a44a309eec0b29246b1f43c47f">
It is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
 
</body></html>

Bargain property in Hawthorn? Two million dollar discount on luxury home

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<div>
<div>Both Melbourne and Sydney saw their auction clearance rate sit above 70 percent, however there's no new boom, according to one auction commentator.</div>
<div> </div>
<div>The final tally will revise lower as late results but sit in the commendable high 60 per cent range.</div>
<div> </div>
<div>The unreported results include <a href="https://www.raywhite.com/nsw/vaucluse/2120246/?lang=en" target="_blank">a Vaucluse trophy home</a> (top) which was passed in on a $16 million vendor bid at its late Saturday afternoon auction.</div>
<div> </div>
<div>There had been just the one bid taken by auctioneer, Damien Cooley of $15 million for the home of hotelier Ashton Waugh who'd listed the home with a $16 million price guide through Gavin Rubinstein, the Ray White network’s top performer.</div>
<div> </div>
<div>The three-level home was completed two years ago with five bedrooms and seven bathrooms.
Peter Ahern of buck&amp;simple Architecture redesigned the Gilliver Avenue home with a panorama that takes in the city skyline, Opera House and Harbour Bridge from its 835 square metre block that cost $6.7 million in 2004.
</div>
</div>
<div>There were 1,292 capital city homes taken to auction over the final weekend of June, returning a preliminary national auction clearance rate above 60 percent for the third consecutive week.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/CoreLogic%20weekend%20June%2030.jpg" alt=""></div>
<div> </div>
<div>It was 66.5 percent nationally, according to CoreLogic auction analyst Kevin Brogan.</div>
<div> </div>
<div>The winter hibernation kicks in with lower listings down on the 1,484 homes and 1,487 auctions held over the prior weekends.</div>
<div> </div>
<div>Sydney was the strongest market with volumes down to 503 auctions from the 558 auctions held over the week prior.</div>
<div> </div>
<div>Sydney returned a preliminary auction clearance rate of 72 percent with the top sale being an Elizabeth Bay apartment in The Palms harbourfront complex.</div>
<div> </div>
<div>The three bedroom <a href="https://www.raywhite.com/nsw/elizabeth-bay/2108574/?lang=en" target="_blank">8/12-16 Billyard Avenue</a> offering (below) fetched $3,815,000 with four registered bidders. 
</div>
<div> </div>
<div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/Billyard%20Avenue%20Elizabeth%20Bay.jpg" alt=""> More than 100 groups went through the open homes, Ray White agent Ian Campbell said.
</div>
<div> </div>
<div>"There's a shortage of stock at the moment, and when you combine that with increased buyer confidence since the election, it makes sense that open home numbers and auction clearance rate numbers are up," he said. "The buyers loved the convenience of being able to walk in to the city or take the ferry," Campbell added.</div>
<div> </div>
<div>The buyer was also keen on securing a berth for a boat on the adjoining block, Domain reported.</div>
<div> </div>
<div>
The Ray White Elizabeth Bay selling agent Renee Cross had given $3.7 million price guidance for the split level, three bedroom, 231sqm apartment with two cars spaces.</div>
<div> </div>
<div>It last sold at $990,000 in 1995. </div>
<div> </div>
<div>Melbourne returned a 70.6 percent preliminary auction clearance rate this week, increasing on the 68.9 percent final clearance rate last week.</div>
<div>
<div> </div>
<div>Its volumes were lower week-on-week, with 536 homes auctioned down on the 635 auctions held the previous weekend.</div>
<div> </div>
<div>A four bedroom Kew home was Melbourne's top sale. The <a id="LPlnk363779" class="x_OWAAutoLink" href="https://kayburton.com.au/real-estate/house-58-alfred-street-kew-vic-3101-1325077" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">58 Alfred Street offering</a> (below) was passed in for $4.25 million with Domain reporting it sold post auction for $4.35 million to an investor, who plans to rent it out.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/Alfred%20Street%20Kew.jpg" alt=""></div>
<div> </div>
<div>Melbourne saw a pre-auction sale when $2,308,888 was paid for <a href="https://www.barryplant.com.au/glenwaverley/property/603012/48-orchard-street-glen-waverley/" target="_blank">48 Orchard Street, Glen Waverley</a>.</div>
<div> </div>
<div>It was a five bedroom, two storey house sold through Barry Plant having sold in 2011 at $1,998,888.</div>
<div> </div>
<div>The weekend auction performance was varied across the smaller auction markets with Adelaide seeing a 68.9 percent success rate, while only 33.3 percent of homes sold across Perth.</div>
</div>
<div>
<div> </div>
<div>Brisbane had a 36 percent clearance rate including the nation's cheapest sale.</div>
<div> </div>
<div>It was the three bedroom at <a href="https://christopherliu.raywhite.com/qld/kingston/2121864/" target="_blank">34 Antares Avenue, Kingston</a> (below) which fetched $195,000.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/Antares%20Avenue%20Kingston.jpg" alt=""></div>
<div> </div>
<div>It last sold at $60,000 in 1998.</div>
<div> </div>
<div>"Bring your tools," said Ray White Logan selling agent Chris Liu.</div>
</div>
<div> </div>
<div>The higher auction results were aligning with the trend in housing values, Kevin Brogan said, noting the rate of decline had been consistently improving through 2019, largely driven by improved conditions across Sydney and Melbourne.</div>
<div> </div>
<div>"If we see auction clearance rates holding above the 60 percent mark consistently, it’s a firm sign that buyer and seller price expectations are more balanced and housing prices are finding a new floor," he said.</div>
<div> </div>
<div>Property commentator Andrew Wilson said the weekend results reflected a "steady solid winter market on the road to recovery for Sydney and Melbourne."</div>
"Sydney and Melbourne home auction markets continue to report clearance rates at the highest levels since 2017 with solid rising buyer momentum contrasting to the fading market of a year ago," Dr Wilson noted.
"Seller numbers however remain relatively subdued – particularly in Melbourne and will remain so for at least the next month over the school holiday period. 
"Lower interest rates are a key catalyst for a recovery in buyer confidence with another cut next week by the RBA - if it eventuates - to continue fuel a market revival," Dr Wilson said.
"There's no new boom as yet though" said SQM's Louis Christoper.
 
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