<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>

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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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Auction clearance rates have firmed further in Sydney and Melbourne as many more buyers seek out the early winter offerings, ahead of the likely seasonal listings hibernation.
Auctioneers across the east coast capital cities reported a continued spike in auction bidder registrations that has hastened following the federal election outcome.
Two LJ Hooker auctions in Sydney attracted more than 20 registered buyers. And at Hurlstone Park in Sydney's inner west, so many buyers registered that Richardson &amp; Wrench ran out of bidding paddles for the four-bedroom period home at <a id="LPlnk721593" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://hurlstone-park.randw.com.au/residential-for-sale/0000407516" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">8 Mill Street</a> that went $200,000 past the reserve to sell for $1.655 million.
A house,<a id="LPlnk972307" class="x_OWAAutoLink" href="https://www.domain.com.au/news/brisbanes-worst-house-if-you-want-to-buy-itll-have-to-be-from-the-photos-only-837495/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>dubbed Brisbane’s worst house for sale, sold at competitive weekend auction for $253,000, in the nation's cheapest auction outcome.
Its pre-auction publicity attracted some 40 registered bidders for a house deemed so unliveable that none were allowed to inspect inside.
The Brisbane dump at <a id="LPlnk453102" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhiteeastbrisbane.com.au/properties/residential-for-sale/qld/marsden-4132/house/2107878" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">47 Birch Street, Marsden</a> attracted an opening bid of $120,000 which rose quickly to $230,000, when it was declared on the market.
It sold to an owner occupier looking for a project.
Its marketing photos published by Ray White East Brisbane agent Ryan McHarg showed the three-bedroom brick house on Brisbane’s south side had kicked-in walls in every room, graffiti inside and out, fire damage in the bedrooms, along with missing floorboards and brickwork.
A community organisation which provides lower cost housing for Indigenous community members bought it in 1988 for $78,000.
The two largest auction markets, Melbourne and Sydney, both saw their preliminary clearance rates rise; coming in at the mid-60 per cent mark, however volumes were lower week on week in the first weekend of winter.
A 66.1 per cent preliminary clearance rate was recorded across Sydney this week, making it the best performing capital city according to preliminary CoreLogic results.
It comes off the back of last weekend’s 62.1 per cent final clearance rate which was the highest Sydney has seen in over a year.
The nation's top weekend sale was $5.51 million in Mosman through LJ Hooker Avnu agent Michael Coombs.
The deceased estate sold for $1.01 million above reserve with <a id="LPlnk968613" class="x_OWAAutoLink" href="https://avnu.com.au/our-listings/4-balmoral-avenue-mosman-nsw/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">the five-bedroom house at 4 Balmoral Avenue</a> on the market for the first time in 67 years.
There were eight registered bidders who competed for the 608-square-metre holding.
Domain reported there were 13 registered parties when a four-bedroom deceased estate at nearby <a id="LPlnk327783" class="x_OWAAutoLink" href="https://www.ogpartners.com.au/buying/NSW/North-Shore-Lower/Mosman/House/1P2066" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">28 Lang Street, Mosman</a> sold for $2,635,000 to an upsizing family who intend to renovate the Federation house. The reserve was $2.2 million.
Only five got to bid with the other prospective buyers including developers, first-home-buyers and investors. It was offered for the first time in four decades.
There were slightly fewer homes taken to auction across Sydney this week with 674 auction held, down from the week prior when 707 auctions took place.
Sydney auctioneer Tom Panos saw bidding from around five parties interested in <a id="LPlnk442671" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-lewisham-131138958" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">40 Morton Avenue</a>, Lewisham which sold under the hammer for $1.41 million, $130,000 above the $1.28 million reserve.
The opening bid was $1,275,000. The second bid was at its reserve.
However a three-level Republic 2 apartment in Darlinghurst listed with a $2 million to $2.2 million price guide was sold to its only registered bidder at $2.05 million.
The sub-penthouse at <a id="LPlnk966551" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-131122234" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">301/50 Burton Street is being sold </a>by retired Bangkok-based Willis Towers Watson executive Andrew Heard.
David Servi of Spencer &amp; Servi had listed the two-bedroom, two bathroom apartment which has 172 square metres of floorspace, including the rooftop terrace with city skyline views.
The apartment that sits in a BKH Architects-designed complex with an outdoor pool and gym was being offered for the first time since completion.
It was a $1400 a week rental in 2017.
The quarterly levies sits at $5000 a quarter.
Domain economist Trent Wiltshire said the weekend results were a sign the Sydney market could be close to a turning point.
“Clearance rates are now at their highest point in over a year, and other signs also point to renewed buyer interest – more people are attending open for inspections and auctions and more people are inquiring about home loans,” Mr Wiltshire told Domain.
Wiltshire said although some headwinds remain, notably a sluggish economy and tighter lending conditions, most indicators point towards Sydney and Melbourne’s house price falls "ending this year.”
Brisbane's top sale was an acreage 30 minutes from the CBD at 76 Molle Road, Ransome, a modern seven bedroom five bathroom house.
<a id="LPlnk402809" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/qld/brisbane-east/ransome/397709" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">It secured $1.65 million</a> through McGrath agent David White.
The one hectare property last sold at $778,000 in 2006 with the house constructed in 2011.
There were 1,654 homes taken to auction across the combined capital cities coming into the first week of winter, down from the 2,055 homes auctioned last week, according to CoreLogic. 
The lower volumes saw the preliminary auction clearance rate rise to 61.5 per cent after last week’s 57.7 per cent final clearance rate, which was the highest final weighted average result in over 12 months. 
Over the same week one year ago, a higher 2,281 homes were auctioned, 54.1 per cent of which sold.
Melbourne returned a 64 per cent preliminary auction clearance rate across 733 auctions, after last week’s final clearance rate fell just short of 60 per cent (59.6 per cent).
Melbourne's top sale was $3 million in Camberwell when a five bedroom 1900 home at <a id="LPlnk270150" class="x_OWAAutoLink" href="https://fletchers.net.au/24004/60-brinsley-road-camberwell" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">60 Brinsley Road</a> was sold. It's pre-auction price guidance had been $2.75 million to $3 million. It last sold in 1999 at $476,000.
There were three bidders for the property which was called on the market at $2,875,000.
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The remaining capital city auction markets all saw a lower volume of auctions take place week on week.
Perth returned the highest preliminary result of 55.6 per cent, there was however only 26 homes taken to auction across the city last week. 
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jchancellor-FAypfDUnLy

Less stock, more buyers boosts weekend auction success rates

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EXPERT OBSERVER
Approvals for new detached houses across Australia have sagged to their lowest level since June 2013.
Building approvals in April 2019 indicate that the number of approvals for all categories of new dwelling fell by 4.7% during the month. New detached house approvals dropped by 2.9% while the volume of approvals for apartments/units saw a 7.2% fall. Total approvals are now down by 24.2% over the past year.
Since the beginning of the new home building downturn in late 2017, the bulk of the pain has been concentrated in the high density segment of the market. 
With today’s figures now showing detached house approvals at a 6-year low, it is ominous that the weakness in new home building is spreading to those parts of the market which are traditionally more resilient during downturns.
Obviously, these figures relate to the month immediately prior to the federal election and the political uncertainty which was then at play has contributed to the weaker results for April.
Now that there has been a clear conclusion to the federal election, a real opportunity exists to push home building activity back in the right direction. 
Many significant infrastructure projects have been announced by government over the past year. Speedily converting these announcements into real, visible activity on the ground would provide a major boost to the building industry, the wider economy and confidence more generally.
During April 2019, the number of approvals for new home rose in Queensland (+11.3%), followed by the ACT (+7.7%) and New South Wales (4.8%). 
The largest drop in new dwelling approvals affected Tasmania (-19.1%) followed by Victoria (-16.1%). There were also falls in new home approvals in Western Australia (-6.7%), South Australia (-3.3%) and the Northern Territory (-2.0%). 
SHANE GARRETT is Master Builders Australia’s Chief Economist
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j.ballantyne1990-6AQqhLzZaK

Detached house approvals reach six year low: Shane Garrett

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The Melbourne suburb of Richmond is host to the highest volume of auctions this weekend, with 14 homes set to go under the hammer, according to CoreLogic.
Next busiest are Bentleigh and Doncaster, also in Melbourne, with 13 and 12 auctions scheduled each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to fall, with 1,556 currently being tracked by CoreLogic, down from the 2,055 auctions held last week at final results.
Over the same week, last year a significantly higher 2,281 auctions took place across the capital cities.
Both Melbourne and Sydney are expected to see a decrease in activity this week, with 684 homes scheduled for auction across Melbourne, while Sydney is set to host 639 auctions, decreasing on the 968 and 707 auctions held last week respectively.
The smaller auction markets will also see a lower volume of homes auctioned week on week with the largest decrease is in Adelaide where volumes are down 52%.
<img src="https://www.urban.com.au/images/2019/5/30/Upcoming%20auctions%20May%2030.JPG" alt="">
The busy auction weekend in Richmond sees <a href="https://www.realestate.com.au/property-house-vic-richmond-131146010" target="_blank">15 The Crofts</a> (pictured in title) offered.
The property going under the hammer is a three bedroom two bathroom house.
It comes with an indicative price guide of $1,680,000 - $1,820,000
<img src="https://www.urban.com.au/images/2019/5/30/Richmond%20upcoming%203.JPG" alt="">
Another example of the breadth of auctions taking place in Richmond is <a href="https://www.realestate.com.au/property-apartment-vic-richmond-131135370" target="_blank">6/9 Goodwood Street </a>(pictured above).
The property going under the hammer is a one bedroom one bathroom apartment.
It comes with an indicative price guide of $360,000 - $390,000.
<img src="https://www.urban.com.au/images/2019/5/30/Richmond%20upcoming%202.JPG" alt="">
A third property going to auction in Richmond this week is <a href="https://www.realestate.com.au/property-house-vic-richmond-131130342" target="_blank">4 Park Avenue</a> (pictured above).
The property going under the hammer is a three bedroom two bathroom house. 
It comes with an indicative price guide of $$2,100,000-$2,300,000.
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Richmond set to be the busiest weekend auction hotspot

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Roborigger, an innovative lifting device that allows riggers and dogmen to control loads wirelessly from a safe distance, is now being used by construction giant Multiplex.
The innovative automated product, developed by TENSA Equipment, is currently being used on Mutliplex's latest project, the New Museum for Western Australia.
The Roborigger device, the first of its kind to be used on a commercial construction site, uses inertial forces to accurately rotate and orient crane loads, eliminating the need for workers to use taglines or to be in close proximity to the load during the lifting and lowering phases.
It features an in-built camera and load cell and incorporates a tracking system so every piece of data on a lift, including an image of the load, weight, location, time and date, and the unit states, can be viewed online in real-time.
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Multiplex is the first commercial construction contractor to use this wireless load bearing technology. 
Multiplex CEO John Flecker said it's exciting to see the Roborigger technology in action.
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“At Multiplex, we are always looking to find ways of making our sites and day-to-day operations safer, so it’s been a great opportunity to partner with TENSA in the research and development of Roborigger,” Flecker said.
"The overwhelming potential safety outcomes are what sparked our interest in Roborigger.
"The device perfectly aligns with our overarching strategy to be safer by design and focus on critical risks, removing the need for workers to be in the proximity of a high risk activity.”
TENSA has been developing the Roborigger technology since 2016 and Multiplex has supported this as an industry partner since 2017, coordinating Roborigger trials on commercial sites and providing user feedback.
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“It’s exciting to see Roborigger successfully in action with the initial trial meeting all of our expectations. We’ve already expanded the trial to other sites in WA, with plans to roll out Roborigger on a number of Multiplex sites nationally,” Flecker added.
TENSA mnaging director Derick Markwell said TENSA initially developed the technology to address the challenging task of installing wind turbine blades when the wind was greater than the current limit of 12 knots.
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“As we spoke to more people in the industry we realised that safety was the key concern,” Markwell said. 
“We have also recently realised that data captured from load lifts is as valuable as the hardware itself, so we are now looking at leveraging this.” 
Roborigger has been a completely local Western Australian innovation with the key research, development and trial phases all carried out locally and supported by local stakeholders such as Multiplex. 
 
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jrobinson-rf4aSBido9

New lifting device Roborigger to improve crane safety 

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Conditions remain bleak across the WA housing market, with Perth’s five year price correction re-acclerating in 2018 and buyer sentiment still not gaining traction, according to Westpac.
Its Housing Pulse May 2019 did suggest there are positives as the pace of monthly price declines is moderating, the glut in rental markets looks to have disappeared, and mining regions have seen a lift.
However, with the economy still looking soft, mortgage arrears rising and the clear threat of ‘negative equity’ problems highlighted in our last report, downside risks are likely to persist.
Curtin University school of economics, finance and property associate professor Steven Rowley recently noted the bottom of the market had been called for three years now.
Perth valuer Gavin Hegney believes that the bottom has yet to come.
“If you are looking for the bottom out in the overall median price, you are not going to see that until the end of the year,” he told Domain.
“And you are not going to see that until rents rise and the tenants of today become the purchasers of tomorrow on the basis they can get money, and that will seem to balance and lessen the rental pressure and see purchasing pressure and recovery in the lower end of the market
“That’s the reality but within the market there are always things on the move, and while outer areas and the lower end are seeing properties sell for well below replacement price, some of the upper end of the market – not the ultimate prestige – but what they call the upper end mortgage market if you like, is doing quite well.”
<a href="https://www.propertyobserver.com.au/images/2019/5/29/WA%201%20.jpg" target="_blank">Click here</a> to enlarge:
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Prices across the Perth market are down 8.7% annually, the fastest pace of decline since the GFC.</div>
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<div class="column">Following an extended correction, prices are now at a 13 year low.</div>
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<a href="https://www.propertyobserver.com.au/images/2019/5/29/WA%202.jpg" target="_blank">Click here</a> to enlarge:</div>
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<div class="column">The price detail shows the latest turn has been broad based across houses, units, price tiers and sub-regions.</div>
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<div class="column">The shift is notable for the lack of variation across segments.</div>
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<div class="column">As noted, the monthly pace of declines in Perth has moderated a touch since February, with declines tracking 0.5%mth in Mar-May vs 1.1%mth through Nov-Feb.</div>
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<div class="column">The detail shows improvements in the North East and South East of the city but some deterioration in inner areas.</div>
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<div class="column">WA’s mining areas are seeing some lift in prices.</div>
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<a href="https://www.propertyobserver.com.au/images/2019/5/29/WA%203.jpg" target="_blank">Click here</a> to enlarge:</div>
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<div class="column">The Westpac WA Consumer Housing Sentiment index has firmed slightly since Feb but is largely unchanged on a year ago and unlikely to be sufficient to lift the market out of its slump.</div>
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<a href="https://www.propertyobserver.com.au/images/2019/5/29/WA%204.jpg" target="_blank">Click here </a>to enlarge:</div>
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<div class="column">Around supply, Perth’s vacancy rate is now back to ‘normal’ levels but listings of both houses and units remain elevated and will continue to accumulate at the currently very weak pace of sales.</div>
<div class="column"><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/2019/5/29/WA%205.jpg" alt=""></div>
<div class="column">Source: Westpac</div>
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<a href="https://www.propertyobserver.com.au/images/2019/5/29/WA%206.jpg" target="_blank">Click here</a> to enlarge:</div>
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<div class="column">The Westpac report comes as Domain report Perth property prices are now nearly back to the levels seen at the end of 2011.
“That 2011 decline was the trough and was before the 2014 peak, so prices rose from their trough in 2011 up to the peak of 2014, and now they are back down to that trough of 2011 more or less,” said Domain senior research analyst Nicola Powell, meaning they are now nearly back to the levels seen at the end of 2011.
“The impact of the once-in-a-generation mining boom played havoc with normal demand patterns; there was a temporary population explosion which led to rising prices and in the end an overbuild of new housing,” LWP Property Group managing director Danny Murphy told Domain.
“When the impacts of the boom ended the major driver of activity in population growth fell away sharply. Other related factors around employment certainty and the expectation of reductions in prices reduced the incentive to purchase.”
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Western Australia sees no real let up to bleak property market

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Next Tuesday the Reserve Bank of Australia are expected to cut the official cash rate for the first time since mid 2016.
Finder, Australia's most visited comparison website, has seen a huge uptick in first home buyers visiting their site as a result of the expected cut which would see the cash rate drop to 1.25%.
It has sat at 1.5%, a historic low, since August 2016, the last time the rate moved. 
Finder has seen a 55% rise in visitors to first home buyer guides so far this month compared to May 2018.
It’s the biggest spike in visitors to those pages in 12 months, according to Finder. Graham Cooke, insights manager at Finder, says first home buyers may finally get their opportunity to break into the market. 
“There’s a perfect storm brewing for first home buyers. Property prices are dipping, lenders are dropping their rates and a first home buyer’s scheme is on the cards. “After 31 months of no change, all signs are pointing to a cash rate cut next Tuesday. The expected move is causing a flurry of rate drops among lenders, especially on the fixed home loan front.”
Lenders are already lowering their rates, with 40 lenders dropping rates across 333 products in May.
BankWest, UBank, CUA, Greater Bank and ME Bank are among those that have cut rates.
The lowest variable rate on the market comes from Mortgage House's Home Loan Prime - Early Bird Rate Cut Special which is just 3.29%.
TicToc has the lowest fixed rate, offering 3.39% for one year.
Cooke urges property hunters to make sure they consider possible rate hikes down the track.   “While we’re on the verge of a new historically low cash rate, what all borrowers need to consider is that rates will – eventually – go up. With that in mind, you should always factor in a 2-3% buffer on top of your current home loan interest rate to accomodate for future rate hikes if and when they do happen."
 
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First home buyers set to pounce as rate cut looms: Finder

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A three bedroom one bathroom house in Campbelltown, NSW has been sold following an unsuccessful March auction.
The property sold for $490,000, $9,000 below the $499,000 that was sought.
Manfred Harle of Richardson &amp; Wrench held the listing.
Situtated at <a href="https://www.realestate.com.au/sold/property-house-nsw-campbelltown-130585758" target="_blank">18 Megalong Crescent</a> the 1970 property is a one storey brick veneer house.
Set on 588, sqm it features a one car lockup garage.
Positioned withing walking distance of local school, shops and transport, it was described in the listing as "a great opportunity for first home buyers and investors".
Last sold in 2007, the property transacted for $270,000.
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The median price for a home in <a href="/developments/campbelltown-nsw-2560">Campbelltown</a> is $600,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 8.8%. 
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Campbelltown, NSW mortgagee home sold after unsuccessful auction

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A Southbank, Vic, mortgagee apartment situated near the Melbourne CBD has sold for $353,000.
It marks a $200,000 reduction on its 2013 sale price of $553,000.
John Pratt and Steven Lee of Dixon Kestles held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-apartment-vic-southbank-131104010" target="_blank">3010/151 City Road</a>, the one bedroom one bathroom apartment was sold at auction May 25.
It was previously listed from August 2017 to April 2018 with an asking price of $420,000, however it was unable to sell.
Located near both the CBD and the Melbourne Freeway, it is just a single block from the Crown Casino and within walking distance to Southgate's various cafes and eateries.
Featuring one under cover car space, it is part of the Southbank Grand apartment complex which is host to a heated indoor pool, a gym and a bbq area. 
In August and September of 2017 the property was listed for rent at $485/pw.
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According to CoreLogic, the annual change in median price for a property in <a href="/developments/southbank-vic-3006">Southbank</a> over the past 10 years is 2%.
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Southbank, Melbourne mortgagee apartment sells for $200,000 loss

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A three bedroom one bathroom St Albans, Victoria house has been sold at auction.
The one storey house sold for $450,000.
Alex (Chau) Tran and Thomas (Thinh) Nguyen of Barry Plant held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-st+albans-131080610" target="_blank">70 Levenia Street</a>, it is described in the listing as an "amazing opportunity to knock down and build (S.T.C.A) or renovate".
Set on 697 sqm, the property is located 15 kms from the airport and 25 kms from the CBD.
Last offered to the market as a rental back in 2006 and never since, it sought $185/pw.
The property previously transacted in 2011 for $315,000.
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The median price for a home in <a href="https://www.realestate.com.au/sold/property-house-vic-st+albans-131080610" target="_blank">St Albans</a> is $600,000 according to CoreLogic, the annual change in median price over the past 10 years is 7.9%.
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St Albans, Victoria home sold under mortgagee auction hammer

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A Waterford West, Queensland mortgagee duplex has sold for $285,000.
It marked a $90,000 reduction on its 2009 sale price of $375,000.
Brian Reynolds of Century 21 held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-qld-waterford+west-130456802" target="_blank">1/92 Logan Reserve Road</a>, it was built in 2009.
Set on 155 sqm, it was unsuccessfully marketed from 2014 - 2016 with an asking price starting at $370,000 before being reduced a number of times to $315,000. 
It was also listed from May to November of 2018 seeking $320,000.
The three bedroom two bathroom property features a single lockup garage and a fully fenced rear yard.
Listed as a rental in 2016 with an asking price of $360/pw and in 2018 with an asking price of $340/pw.
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The median price for a home in <a href="/developments/waterford-west-qld-4133">Waterford Wes</a>t is $349,200, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 1.1%. 
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