<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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A four bedroom house at Onslow, in coastal Western Australia, has been listed for sale by the mortgagee with a price guide of $269,000.
The property was previously offered for sale with $850,000 hopes through Crawford Realty Karratha in 2015, when its asking rentals were $1300.
Set on 405 sqm, the home had an asking price of $460,000 when it was first listed as a mortgagee sale in October 2017.
Situated at <a href="https://www.realestate.com.au/property-house-wa-onslow-130564298" target="_blank">12A Burt Close</a>, the house comes with four bedrooms, two bathrooms, low maintenance gardens, and double carport.
It has been offered by Darren Cossill from Ray White Exmouth. 
Built in 2013, it is set in a town between Exmouth and Karratha.
<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>
Other features of the house include high ceilings, stone bench tops, ceiling fans, and AC throughout. 
The median price for a home in Onslow is<a href="/developments/onslow-wa-6710"> $290,000</a> according to CoreLogic, which calculate its annual change in median price over the past 10 years as 2.9 percent.
However, in the past five years prices have fallen by 47 percent.
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j.ballantyne1990-6AQqhLzZaK

Onslow mortgagee offering asking price slashed to a third

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A two-level, four-bedroom 2017-built house in Blackburn, Victoria has been just sold for $1.16 million by the mortgagee in possession.
It was listed by Patrick Mane and Rupa Mane from Raine &amp; Horne Blackburn. 
It had $1.4 million hopes when listed in early 2018.
Positioned in a quiet cul-de-sac location, the house at <a href="https://www.realestate.com.au/sold/property-house-vic-blackburn-130336706" target="_blank">2/7 Langtree Court</a> comes with two king sized bedrooms, other two additional bedrooms, large kitchen, formal dining room, large living room and fully-landscaped backyard.
Other features include video intercom, downstairs study, split system cooling/heating and a double garage.
<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>
It's only a short walk to Blackburn North Shopping Centre and Whitehorse's Golden mile shopping strip, and within 5 minutes drive to the Eastern Freeway or Blackburn Railway station.
The median price for a home in Blackburn is <a href="/developments/blackburn-vic-3130">$1.31 million </a>according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.7%.
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Blackburn house sold by mortgagee for $1.16 million

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The inner Brisbane market has reported a sharp rise in rental vacancies, a lift from 2.1 per cent to 4.0 per cent in the December quarter.
But while this may seem a big jump, it’s actually not unusual for this market in the December quarter, the REIQ suggest.
"The 0-5km ring empties of renters in the Christmas/early January period and vacancies rise," said the REIQ chief Antonia Mercorella.
There has been an almost-decade long pattern of higher vacancies in December followed by a fall in the March quarter as the market returns to business as usual.
There was also a fall in the June and September quarters last year too in the inner city.
Brisbane’s middle ring (5-20km) held rock steady at 2.0 per cent from September to the December quarter. This closes out a very stable year for this region. In December 2017 the middle ring was 2.1 per cent, before it bumped up to 2.8 per cent in the March quarter. The June and September quarters were 2.1 per cent and 2.0 per cent respectively. The market forces of supply and demand are well balanced in this section of the market.
Brisbane LGA eased by 0.5 per cent, moving from a tight 2.0 per cent closer to a healthy ranking of 2.5 per cent. For most of 2017 this market averaged around 3.0 per cent to 3.5 per cent. Throughout 2018 it tightened a little as the more affordable middle ring lured tenants away from the central suburbs. But as supply to the inner city apartment market slows, it’s possible we’ll start to see this market tighten again over the coming year.
The Greater Brisbane region tightened from 2.4 per cent to 2.3 per cent.
A combination of factors is triggering investor nervousness in the Queensland rental market as the REIQ is seeing a slowdown in investor activity.
"Local agents in pockets of the southeast corner are reporting falling sales volumes, attributable to the perfect storm of real estate headwinds of tightened lending criteria, the legislation review, and the pending federal election," said Antonia Mercorella.
"As federal election campaigning begins to ramp up uncertainty around potential negative gearing adjustments and capital gains tax changes have caused many investors to hit pause on possible buying activity.
"The REIQ is hearing from agents that financing is causing contracts to fall over.
"We’re seeing tightened lending restrictions slowing both investors and first home buyers from getting into the market.
"The State Government’s ongoing review of the Residential Tenancies and Rooming Accommodation Act is adding to the unease, particularly given the types of changes introduced in Victoria following a similar review of its rental legislation.
"Investors are concerned about a loss of control over their asset and worry about unwieldy legislation that will reduce their rights while ramping up concessions to tenants," she said.
Outer Brisbane (Ipswich, Logan, Moreton Bay and Redland) tightened from 2.8 per cent to 2.0 per cent, moving from healthy to tight. This market is being dragged into tight territory by the Redlands, which fell from 4.8 per cent to 1.6 per cent.
Ipswich tightened from 2.4 per cent to 1.8 per cent. Local agents report some jitters from investors who are nervous about the ongoing State Government review of the Residential Tenancies and Rooming Accommodation Act. The population grew from 166,904 in 2011 to 193,733 – a gain of 26,829. This will add to the strain on rental accommodation.
Logan tightened from 3.5 per cent to 2. 4 per cent. This market has moved from healthy into tight and, similar to Ipswich, is partially feeling the impact of population growth. From 2011 to 2016, the population of Logan grew by more than 25,000, or the equivalent of more than 5,000 people a year. With many regions reporting muted investor activity this population growth will push vacancy rates lower.
Moreton Bay held steady at 2.0 per cent, the same as the September quarter. Home to North Lakes, one of the fastest growing SA2s in Queensland, according to ABS data, a stable vacancy rate of 2.0 per cent is noteworthy and indicates a region where supply and demand are well balanced. 
<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/2019/2/25/REIQ2.jpg" alt="">
The Gold Coast's December quarter vacancy rate saw a jump in the vacancy rate from 1.7 per cent to 4.8 per cent.
Several projects have been completed and added to the rental pool.
The largest of these is JLL’s Smith Collective build-to-rent dwellings.
The precinct has around 1251 dwellings, with first tenants moving in last month.   
Other developments have come online in Varsity, Broadbeach, Miami, Burleigh and Robina.
Agents are indicating that the market is price sensitive and tenants have choice, conditions that are relatively new to this market.
The REIQ signalled the third stand-out result for the December quarter was the Redlands, which tightened from 4.8 per cent to 1.6 per cent.
"This result represents a return to business as usual for this region which historically reports around 2 per cent vacancies," 
"The September result of 4.8 per cent was an outlier."
Local agents report that there has been noticeably less activity in the December/January period than usual.
Tenants are staying put, one property manager reported, summarising the general consensus on Redlands.
The Sunshine Coast SD (Sunshine Coast LGA and Noosa Shire combined) has tightened and is now firmly classified a tight rental market.
The vacancy rate has dropped from 2.4 per cent to 1.8 per cent. These tightened conditions will continue to exert upward pressure on prices and it is likely we will see some movement in rents if these conditions continue.
 
 
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Inner Brisbane vacancy rate jumps to 4 percent: REIQ

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The Rose Bay harbourfront trophy home of property developer Stephen Burcher was passed in at weekend auction on a bid of $23.25 million.
It ranked as the highest bid ever made at a home auction, but it fell short of the $25 million being sought by its <a id="LPlnk574384" class="x_OWAAutoLink" href="https://theagency.com.au/17211/20b-tivoli-avenue-rose-bay" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">listing agent Ben Collier, of The Agency</a>.
Sydney’s previous auction record of $23 million was set by the sale under the hammer of the Le Manoir estate in Bellevue Hill in 2009.
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<div id="x_google_ads_iframe_/31694718/domain.com.au/news/prestige_3__container__">The Rose Bay auction reportedly had just the one bidder, a local Chinese family.</div>
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<div class="x_in-content-ad">There were four or so other interested buyers for the three-level residence redesigned by architect Bruce Stafford, amid landscaped gardens by Anthony Wyer.</div>
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<div class="x_in-content-ad"><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/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a></div>
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The five-bedroom, five-bathroom battle-axe residence is set on a waterfront block with a boat shed and pool.
The highest residential sale in Sydney was <a id="LPlnk229640" class="x_OWAAutoLink" href="http://www.ppdre.com.au/buying/NSW/Eastern-Suburbs/Waverley/House/1P4472" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10 Seaview Street, Waverley</a> (below) which sold for $4.3 million through Phillips Pantzer Donnelly inconjunction with Richardson &amp; Wrench. </div>
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<div class="x_in-content-ad"><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/2019/2/25/Waverley.jpg" alt=""></div>
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<div class="x_in-content-ad">The four bedroom property last sold at $470,000 in 1994.</div>
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<div class="x_in-content-ad">There had been $4 million price guidance with the $4.3 million reserve paid by its only registered bidder.</div>
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<div class="x_in-content-ad">Sydney was again the stronger of the two major auction capitals, hosting 795 auctions with preliminary results showing a 58.6 per cent clearance rate, up from 54.6 per cent across 523 auctions last week. </div>
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Over the same week last year 1,259 homes were taken to auction across the city returning a clearance rate of 65.1 per cent.
There were 1,144 auctions held in Melbourne this week with preliminary results showing a clearance rate of 53.1 per cent, increasing from last week when the final clearance rate was recorded at 52.5 per cent across 657 auctions. 
Over the same week last year, the auction clearance rate was significantly higher with 70.6 per cent of the 1,606 auctions returning a successful result.
Melbourne's top revealed price was in Middle Park at $3,645,000 (below).
<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/2019/2/25/Middle.jpg" alt="">
The price guidance had been $3 million to $3.3 million for <a id="LPlnk906991" class="x_OWAAutoLink" href="https://www.marshallwhite.com.au/property/144-canterbury-road-middle-park-756132/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">144 Canterbury Road</a>. There were four bidders.
The four bedroom brick Edwardian home last sold at $400,000 in 1992. 
A Toorak home was passed in at $3.66 million, and sold after auction at undisclosed price.
Melbourne has the nation's cheapest advised sale when <a id="LPlnk36591" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-apartment-vic-moonee+ponds-129899770" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">904/19 Hall Street, Moonee Ponds</a> sold for $300,000.
The one bedroom unit was sold pre-auction through Frank Dowling Real Estate who had $300,000 to $320,000 price guidance.
It last sold at $400,000 in 2014, according to CoreLogic. 
It is located on the ninth floor of the One9 apartment complex.
Across the smaller auction markets, Brisbane and Canberra were the only cities to see a rise in clearance rates week-on-week, while auction volumes increased everywhere except Perth and Tasmania over the week.
There was a $2.39 million sale in Adelaide, which had the strongest clearance sitting in the 60s. 
The $2.39 million sale was three bedroom house at <a id="LPlnk398154" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-sa-glenelg+north-130005010" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">21 North Esplanade, Glenelg North</a> (below).
It was a <a href="/news/mortgagee-secures-2-39-million-glenelg-north-trophy-home-sale">mortgagee offering</a> through Jamie Brown at Bernard Booth.
<img src="https://www.urban.com.au/images/2019/2/25/GLenelg%202.JPG" alt="">
The new beachfront residence came with some 600sqm of living space with views of Gulf St Vincent across three levels.
Auction clearance rates, albeit preliminary with many results yet to be advised, remained resilient despite the jump in auction stock.
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The national auction volumes across the combined capital cities rose above 2,000 for the first time this year, according to CoreLogic.
<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/2019/2/25/CL-Feb25.jpg" alt="">
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There were 2,303 homes taken to auction across the combined capital cities returning a preliminary auction clearance rate of 54.1 per cent, while the prior week saw auction volumes at 1,450 auctions held and a 51.2 per cent clearance rate. 
Over the same week last year, 3,313 auctions were held and a clearance rate of 66.8 per cent was recorded.
Last week’s final clearance rate marked the second week in a row where the final clearance rate held above 50 per cent, an improvement given the weekly auction clearance rate sat at or below 42 per cent for 5 consecutive weeks in November/December 2018, Kevin Brogan, the CoreLogic auction analyst noted.
"It will be interesting to see how clearance rates hold up now that auction volumes have started to pick up.
"The seasonal pattern over previous years has seen a similar bounce back in the auction clearance rate in February through to mid-to-late March before trending lower into autumn and winter.
There is a later Easter this year which will see a clear run through to late April.
"Considering advertised stock levels remain high and most other indicators are soft, it’s possible a similar weakening trend in auction markets will become evident next month," Brogan  tipped.
The number of properties pulled from auction remains high with CoreLogic calculating 67 were withdrawn from weekend Sydney auction.
There had been progressively more withdrawals every Saturday so far this year with 12 on February 2; 26 pulled on February 9 and 42 on February 16.
The redundant Malabar home of My Kitchen Rules judge Pete Evans and wife Nicola Robinson was among from <a href="/news/mkrs-pete-evans-withdraws-his-malabar-from-weekend-auction">withdrawn from weekend auction</a>. 
<a id="LPlnk629852" class="x_OWAAutoLink" href="http://www.ngfarah.com.au/20363275/97-austral-street-malabar" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The five-bedroom house</a> is still up for sale through Peter Goulding and Nick Ujvary of NG Farah Little Bay.
The couple have built a new home nearby.
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jchancellor-FAypfDUnLy

Weekend auction success rates remain resilient, but no record auction sale on Rose Bay

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First home buyers have become more active in the housing market over the past year.
There has been a number of reasons for this, dwelling values have been falling which has improved affordability lessened the deposit hurdle, other segments of the market have been less active (less competition) and attractive incentives have been offered to first home buyers in certain states. The latest data on housing finance from the Australian Bureau of Statistics for December 2018 shows that perhaps that trend is reversing.
Note that all the data is seasonally adjusted so the slowdown isn’t likely to be related to seasonality.
In December 2018, there were 8,476 finance commitments by owner-occupier first home buyers which was the fewest monthly commitments since June 2017. Commitments were also -9.6% lower over the month and down -12.6% year-on-year. Although the number of commitments was lower, as a share of all owner-occupier finance commitments (excluding refinances) the share of first home buyers shifted only slightly from 26.8% the previous month to 26.4% in December 2018. The minimal change in share is reflective of the overall weakening demand for mortgages.
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project.png" alt="">
NSW
Across the state, there were 2,232 first home buyer commitments to owner-occupiers in December 2018, which was the fewest since July 2017. The number of commitments was -5.2% lower over the month and -3.0% lower year-on-year. In terms of the share of total owner- occupier finance commitments, first home buyers were 24.0% of the NSW market (excluding refinance) which was up from 23.6% over the previous month. However, overall owner-occupier mortgage demand (excluding refinances) has fallen by a larger -6.1% over the month compared to the -5.2% fall across the first home buyer segment.
<img src="https://www.urban.com.au/images/2019/2/27/image.png" alt="">
Vic
The 2,604 first home buyer finance commitments in December 2018 were the fewest since June 2017. First home buyer commitments were -7.7% lower over the month and -14.8% lower year-on-year however, overall owner occupier commitments excluding refinances recorded a larger monthly fall (-10.4%). As a result, the share of owner-occupier housing finance commitments compared to total commitments (excluding refinances) actually rose over the month to 29.0%, its highest share since July 2013.
Given this, the share is rising however; it is rising on falling volumes for both first homebuyers and overall owner-occupiers.
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project%202.png" alt="">
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project%202.png" alt="">
Qld
Both the number of first home buyer finance commitments and the share of first home buyers compared to new lending fell in December. Over the month, there were 1,586 owner-occupier first home buyer commitments, which was -11.1% lower over the month and -23.2% lower year-on-year. It was also the fewest first home buyer commitments since October 2015. Looking at first home buyers as a share of total new owner-occupier lending, first home buyers represented 24.3% of lending, their lowest overall share since February 2017.
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project%203.png" alt="">
SA
The 495 first home buyer finance commitments in December 2018 was down -6.4% on the previous month but was 2.3% higher than a year earlier. The number of first home buyer commitments in December 2018 was the lowest it has been since July 2018. First home buyer demand for new mortgages fell faster than overall demand for new mortgages and as a result, the share of owner-occupier new finance commitments to first home buyers fell from 21.6% the previous month to 20.9% in December 2019.
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project%204.png" alt="">
WA
The 1,164 first home buyer finance commitments in December 2018 was the fewest since June 2018. First home buyer commitments were -5.4% lower over the month and -12.7% lower year-on-year. As a share of total new lending to owner-occupiers, first home buyers in WA are active and account for 34.3% of total new lending with the share rising over the month. The relative strength of the first home buyer market is also reflective of the overall weakness in demand from non-first home buyer owner-occupiers across the state.
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project%205.png" alt="">
Tas
There were 154 owner-occupier first home buyer commitments in December 2018. The 154 commitments was the fewest since May 2018 with the number -8.3% lower over the month but 8.5% higher year-on-year. The sharp fall in first home buyer commitments saw them fall as a share of overall new lending to owner-occupiers, recorded at 19.7% over the month. The 19.7% share was down from 21.5% the previous month and the lowest share since April 2018.
<img src="https://www.urban.com.au/images/2019/2/28/New%20Project%206.png" alt="">
NT
Because it is such a small market, first home buyer volumes tend to be quite volatile. In December 2018, there were 81 first home buyer finance commitments, which was 2.5% higher over the month and 28.6% higher year-on-year. While first home buyer lending increased, new lending to owner occupiers fell significantly over the month leading to the share of new lending to first home buyers spiking to 42.4% from 36.4% the previous month.
<img src="https://www.urban.com.au/images/2019/2/28/image.png" alt="">
ACT
There were 191 first home buyer finance commitments in December 2018. Although commitments were -15.1% lower over the month and - 16.2% lower year-on-year there had been fewer first home buyer commitments in September 2018 (182). First home buyer demand fell much more substantially over the month than overall demand to owner occupiers, as a result, the share of new owner occupier lending to first home buyers was recorded at 24.0%, down from 26.3% over the previous demand.
<img src="https://www.urban.com.au/images/2019/2/28/image%201.png" alt="">
To-date, the first home buyer segment has been the one source of growing demand across the housing market. Although the weakness has only been apparent for a few months, it will be important to watch going forward. With an entrenched downturn in lending to investors and owner occupier demand falling sharply, if first home buyer activity drops it could lead to a further leg down in value declines across the market. The more pragmatic potential first home buyers are probably seeing values decline and despite incentives, they realise that if they remain on the sidelines the properties they are targeting could be becoming even more obtainable over the coming months.
CAMERON KUSHER is a Research Analyst at CoreLogic.
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Are first home buyers waiting on the sideline? CoreLogic's Cameron Kusher

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A gutted, roofless Denistone, NSW home has fetched $1,092,000 after being listed for sale by its mortgagee.
Located at <a href="https://www.domain.com.au/14-anzac-avenue-denistone-nsw-2114-2014886032" target="_blank">14 Anzac Avenue, Denistone</a> the two bedroom one bathroom home came with an auction price guide of $950,000, some $100,000 higher than the home's 2013 sale price of $850,000.
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Previously listed at $1.5 million by the owner in early 2017, the property is set on 799 sqm.
The house is located within close proximity of Ryde Hospital, Eastwood Plaza and close to Top Ryde City.
The listing, through Daniel Hennessy of McGrath Ryde was marketed as a knockdown with any rebuild having "scope to capture views over Parramatta River and Olympic Park".
The median price for a home in <a href="/developments/denistone-nsw-2114">Denistone</a> is $1.777 million, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 8.1%.
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Roofless mortgagee Denistone offering sold for $1.092 million

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QM Properties are planning to build a 34-unit development on a riverfront St Lucia site.
The company purchased the 1,242 square metre site in St Lucia for $8.5 million.
QM Properties have amended the 160 Macquarie Street site  DA to provide a boutique luxury apartment project comprising 34 three bedroom apartments.
Brendan Hogan, the director of residential at Colliers International, handled the off-market expressions of interest campaign.
Glenn Rix, the development manager at QM Properties, said the north-facing riverfront project will be launched to the market in the second half of 2019.
QM Properties is a Brisbane based private development company with a history spanning over 40 years.
Their current portfolio includes residential, commercial, industrial and leisure developments, primarily within South East Queensland.
The site has passed hands several times, with Melbourne developer <a href="/news/melbourne-developer-kokoda-buys-st-lucia-brisbane-riverfront-site">Kokoda Property paying $9.5 million</a> for the site in 2017. 
Kokoda had planned a 15-storey, 60-unit development.
Photo: Prior listing of property from 2013.
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QM Properties plans 34-unit development on $8.5 million St Lucia site

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Goldfields' plans for the development of an 85-unit Chatswood residential tower has been endorsed by Willoughby Council.
The Chatswood development will be a further addition to Goldfields’ growing pipeline in New South Wales.
"Our project in Chatswood will be one of the first approved developments under the Chatswood CBD Planning and Urban Design Strategy, so it is a great opportunity to bring high-quality mixed-use residentialto an area that is demanding it," managing director of Goldfields, Marco Gattino, said.
The new development site is 400 metres from Chatswood Railway Station and Westfield Shopping Centre.
Construction is set to begin September 2020.
"It’s been a challenging 12 months for Australian property, however Sydney’s Lower North Shore is quickly becoming one of the most searched and desired places to live and work in Australia; and I see this trend continuing into 2020," Gattino said.
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Development approval for Goldfields project in Chatswood 

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An interesting series of charts was posted by Simon Pressley of Propertyology, showing how a number of Brisbane construction hotspots have seen the rental supply tightening back into balance.
Pressley showed tightening vacancy rates in Nundah (1.6%), Bulimba (2.8%), and Chermside (2.2%) as a few prime examples, while West End and Fortitude Valley were still chewing through the their glut in January 2019. 
A bit closer in, here's New Farm and Teneriffe with the rental supply at the tightest level since 2013.
<a href="https://1.bp.blogspot.com/-BoPSEDLF9Qc/XGclMjbarMI/AAAAAAAAud4/5aE0-lar1Zo7unykmnj8FjPOAHK2U-_JACLcBGAs/s1600/4005.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-BoPSEDLF9Qc/XGclMjbarMI/AAAAAAAAud4/5aE0-lar1Zo7unykmnj8FjPOAHK2U-_JACLcBGAs/s640/4005.jpg" width="640" height="370" data-original-height="604" data-original-width="1042"></a>
Source: SQM Research
Hamilton also recorded its lowest vacancy rate since 2013.
Commencements and units under construction have levelled off, while new approvals continue to slide back towards historic averages.
<a href="https://3.bp.blogspot.com/-kFNTHPXnuUc/XGcmXCOSJnI/AAAAAAAAueE/Ux_4nPAi9IIsRykVgkeDyHzIpzust4x3gCLcBGAs/s1600/A1.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-kFNTHPXnuUc/XGcmXCOSJnI/AAAAAAAAueE/Ux_4nPAi9IIsRykVgkeDyHzIpzust4x3gCLcBGAs/s640/A1.jpg" width="640" height="362" data-original-height="799" data-original-width="1409"></a>
And while not all internal migrants head to the capital cities, as I write, this interstate migration to Queensland is at its highest level in about 13 years, those heady pre-crisis days when when the mining boom was in full swing. 
<a href="https://3.bp.blogspot.com/-IuA2xbvjQNk/XGcnJnkNq8I/AAAAAAAAueM/ej7ZA6C_KO0zK7dI3LOhGl_1W6hpYf1gACLcBGAs/s1600/NIM.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-IuA2xbvjQNk/XGcnJnkNq8I/AAAAAAAAueM/ej7ZA6C_KO0zK7dI3LOhGl_1W6hpYf1gACLcBGAs/s640/NIM.jpg" width="640" height="372" data-original-height="796" data-original-width="1368"></a>
While developers aim to manage risk as well as they can, there's always an element of forecasting of demand when strategies are put together.
For a while it looked as though the demand for units and rentals wouldn't keep up with the record rates of construction.
But it increasingly looks as though things have swung back into balance in the nick of time, as Queensland draws more and more internal migrants away from the major capitals. 
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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Brisbane filling up with rental supply tightening: Pete Wargent

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Many discretionary vendors don't think it is quite the right time to test the market in the emerging few months of 2019.
But the early bird 2019 vendors have actually done okay, with less competition on the Saturday auction scene.
We have had two weekends with the preliminary Sydney clearance rate sitting nice in the 50s.
The boss of Ray White Brian White wasn't surprised has he'd sensed buyers are looking for opportunities in the markets that have been hardest hit by the recent adjustment. 
Agents had been noticing since early January that the numbers of attendees at their open for inspections were well up on the same time last year, which gave them some confidence.
Ofcourse inspection numbers are just one indicator, getting hands up at auction quite another feat.
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All the negative headlines - sometimes validated by chats among friends and family around the backyard summer bbqs - do have the capacity to undermine our collective psyche.
The early 2019 auction volumes are low, and therefore harder to read in market direction, but there is a possibility some would-be buyers have said enough, and are happy to buy.
February auction clearance rates are always much stronger than where the prior year left off. 
Last December auctions saw a fatigued 40 per cent clearance rate, according to CoreLogic.
The auction success rate had declined through the year having opened 2018 with a 64 percent February clearance rate.
Through the years there have been big new year rebounds. 
There was a huge turnaround coming out of the global financial crisis over summer with the December 2008 success rate being 42 percent but 63 percent in February 2009.
Confident starts after the summer break are or course no guarantee that the entire year remains strong.
Especially as while the new listings around Sydney in the past 28 days are down by around 22 percent on last year, there are very high levels of unsold auction and private treaty stock left over from last year that might be a weight on the 2019 market.
CoreLogic calculate unsold Sydney stock left over from last year sitting now at 27,000 or so, which is up 15 percent on last February's 23,000 offerings, meaning much more choice for buyers than this time last year. 
It was at 19,000 listings in February two years ago.
We don't know the bone fides of all these vendors, and some are just there as window displays for estate agents keen to use dormant listings as a means to attract bites.
Vendors do need to be aware that the market is far tougher, even for the most experienced of agents.
The average private treaty is seeing an 8.7 percent discount on asking price before any house sale, and 8.8 percent for apartments.
This time last year it was required 5.7 percent discount on asking price before any house sale, and 5 percent for apartments.
Attuned pricing is more important than ever if vendors want to get a quick decent sale.
Getting wise counsel on the asking price or likely reserve price for an auction is crucial when thinking of just which agent and which sale process best suits your home.
Don't necessarily automatically pick the agent who suggests they'll get the highest price.
Ofcourse go with a confident realistic agent, but ensure your agent selection process includes getting prospective agents to advise on their recent sales and listings.
And ask just where the prices began with these marketing campaigns.
This article was first published in the Saturday Telegraph.
 
 
 
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