<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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The weakening Rockhampton residential market may yet have hope as construction picks up.
The Rockhampton market has been weakening for some time now with relatively sales numbers steady over the past few years, according to the June report from valuation firm Herron Todd White.
January to March was overall quite positive, providing a good start to the year and while the months since have not been as buoyant, there are still signs within the area that market improvement is just around the corner.
The report noted that, overall the housing sector has continued to plod along with no real stand out areas although the prestige market has seen more activity in recent times.
The prestige market has seen more activity in recent times with a number of sales over $1 million and a few close to that.
There is still good buying within most price brackets, with the best buying being in the sub $300,000 established homes.
"Newer homes have tended to hold their prices better over the past few years but are still offering buyers good value for money", suggests the report.
"The construction of new homes has improved slightly, however there is still a way to go, generally due to modern established homes offering better overall value for money at the current time."
A number of unit projects are in progress in various areas throughout the Rockhampton area, one of note, The Gallery, (pictured) which is the latest Riverside high rise apartment complex, is all but completed, with a number of units still available for purchase.
The Skyview complex is also under construction with units still available and The Loft apartments are getting pre-sales together.
New walk-up units are also available on both sides of the river in older more established areas.
The report noted that, older units are generally priced in the lower section of the market and are generally offering good buying.
The second half of the year is looking positive, with a number of projects both small and large either about to start or that have had announcements with funding pending.
Rookwood Weir and the lingering project are the two largest projects that are mooted for the area, stated the valuers.
Should either of these go ahead, they will help drive the Rockhampton and Central Queensland economy in the future.
Should further action towards these projects take place within the next few months, it is expected the property market will react positively.
Other projects taking place in Rockhampton include the construction of the Rockhampton Hospital Carpark and the soon to start duplication of the Capricorn Highway to Gracemere and the Bruce Highway Northern Access upgrade.
The valuers at HTW forecast that, the Rockhampton market will through these projects and other factors see future market improvement.
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Weakening Rockhampton residential market may yet have hope as construction picks up: HTW 

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The Tamworth residential market is continuing to trade strongly across all sectors.
According to the June report from Herron Todd White, residential properties are trading well with both owner-occupiers and investors being active.
There has been an increase in the number of prestige properties being sold across several suburbs, with strong prices and limited time on market achieved.
"As we reach the middle of the year, the slight dip in construction we noticed at the start of the year appears to have stabilised and increased slightly, however it still appears to be down on what was occurring this time last year", stated the HTW valuers.
"This is still being attributed to the change in the first home owner grant as it is the lower end of construction ($350,000 to $450,000) which has slowed down."
The newer sections of Calala, North Tamworth and Moore Creek have seen an increase in sale prices as newer homes come onto the market.
The increase also seems to be attributed to the subdivisions now being more established with less construction happening around the homes, and streets on the whole having a better appeal.
It is not only the newer suburbs performing well - East Tamworth has seen an increase in values particularly among the older style brick dwellings.
According to this report, the average increase in median price for north, east, south and west Tamworth is 11% as at today’s date.
Although this is only data for the past five months and not completely up to date, it does however give a good indication of the strength of the Tamworth market.
Given the relative affordability of housing in Tamworth, the unit market trades has been trading steadily with no real highs or lows.
However with the town continuing to grow and with more professionals moving in, the executive townhouse style unit is certainly increasing in demand, the valuers suggest.
A 3-bedroom, 2-bathroom townhouse sold earlier this year for $550,000 in East Tamworth and with many new dwellings available in this price range, it shows a strong attraction for this style of townhouse.
Overall, the Tamworth market has been trading well, and the valuers forecast this will continue for the remainder of 2018.
There is some concern given the current drought conditions and there may be a slight drop noticed within the rural residential sector, however local agents continue to report strong demand for these properties.
Tamworth is not a town reliant on any one industry and although the drought may affect the rural and rural lifestyle sector, it is expected that the general residential market will continue to trade strongly concludes the report.
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Investors active in Tamworth residential market: HTW

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Colliers International have listed a $20 million plus Neutral Bay development site.
It has been listed by eight strata owners.
They have banded together to capitalise on the scarcity of available development land on Sydney's Lower North Shore.
It is a "land rich" offering at 85 Kurraba Road, some 1,454 square metre with an R4 High-Density Residential zoning and 12-metre height limit.
It was "perfect for those looking to construct a luxury boutique development with city and harbour views only a short stroll to Kurraba Point Ferry Wharf", Guillaume Volz of Colliers International.
It is being market with offers closing July 18.
Banding together regularly achieves double the value of a single unit, Colliers suggest.
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“We’ve seen a growing trend for properties with underutilised land surrounding established unit blocks on the North Shore,” says Joseph George at Colliers International.
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Eight Neutral Bay strata owners combine to offer amalgamated holding

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A three bedroom house in Paralowie, a north suburb of Adelaide, has been sold by mortgagees for $234,950.
It was sold by Meg Meadows from LJ Hooker and now available for rent at $320 a week.
Nestled on a 584 square metre block,<a href="https://www.realestate.com.au/sold/property-house-vic-greenvale-128229326" target="_blank"> the 6 Turtur Drive</a> house features three bedrooms, lounge, dining and updated kitchen with stainless steel appliances.
Outside there is a rear verandah, carport and toolshed.
It was last traded for $179,5000 in 2007.
The suburb's median house price sits on $303,500, according to CoreLogic. 
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Paralowie three bedroom house sold by mortgagees on 7% yield

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The Bendigo residential market continues growing steadily across most segments.
This growth comes on the back of growth in population and low interest rates, according to the June report published by the valuation firm Herron Todd White.
<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/2018/6/20/Bendigo%20Old%20Vogue.jpg" alt="">
Recently sold for $1,110,000. https://www.realestate.com.au/sold/property-house-vic-brunswick+west-128385470 (link to sale)
Established properties in central locations are seeing strong demand with older period style homes (one pictured above) currently being "in vogue".
The report found that, house and land packages on the city fringe have slowed on the back of increased supply.
The surrounding rural residential/lifestyle market is considered stable with steady demand and supply at present.
Local selling agents are reporting a shortage of stock
across all segments which is to be expected in the winter season, the report noted.
Many small to medium-sized developers are active, putting units and townhouses to the market with success.
This is predominantly within the central suburbs of Bendigo on infill sites and marketed to both investors and first home buyers.
Yields across Bendigo are generally slightly lower than that of other regional cities however the stable market conditions still attract investors.
The valuation firm's forecast for the Bendigo residential market is one of steady growth.
Many people will be following the RBA’s decision on interests rates as this has the potential to reduce demand on a macro level.
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Older period homes in vogue in Bendigo residential market: HTW 

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The top 5 busiest suburbs for auctions this weekend are all in Melbourne, according to CoreLogic.
Topping the list with 17 homes scheduled for auction is Reservoir, followed by Craigieburn with 16, Glen Waverley and Richmond each to host 13 and South Yarra with 12.
Auction activity is set to rise across the combined capital cities this week, with the number of homes scheduled for auction more than doubling over the week after last week’s Queens’s birthday long weekend slowdown.
CoreLogic is currently tracking 1,886 capital city auctions this week, rising on last week when final figures showed 904 auctions held.
Melbourne is set to be the busiest auction market this week, with a total of 932 homes scheduled for auction, increasing on last week when a very subdued 275 homes were taken to auction on the long weekend.
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Volumes are also set to increase across Australia’s second largest auction market Sydney, with a total of 680 homes scheduled to go under the hammer this week, up on the 415 auctions held last week.
Across the smaller markets, Adelaide, Canberra and Perth are all expected to see a considerable increase in activity this week, while volumes across Brisbane are set to remain relatively steady, with Tasmania the only auction market set to see a fall in auction volumes over the week.
One upcoming auction in Reservoir is a multi-level house with views of Bundoora Park and Golf Course which priced at $859,000 to $899,000 (pictured below).
<a href="https://www.realestate.com.au/property-house-vic-reservoir-128330082" target="_blank">Located at 17 Ayr St</a>,  the house comes with four generously sized bedrooms, an additional fifth bedroom or home office on the ground level, formal lounge and large family room.
Nestled on a 767 sqm of land plus 53sqm ROW on title, it also features ducted heating/cooling, double insulated roof, alarming system and multiple garage accommodations.
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Another Reservoir two bedroom townhouse will be auctioned on Saturday priced at $550,000 to $595,000 (pictured below). 
<a href="https://www.realestate.com.au/property-townhouse-vic-reservoir-128393918" target="_blank">Positioned at 3/3 Mattea Court,</a> the townhouse features two generous size bedrooms, separate toilet at ground floor, high ceilings and hardwood floorboards.
Only 13km from Melbourne's CBD, it's just a short drive away from the Western Ring Road, the Hume Freeway and Tullamarine airport.
It is also with quick access to RMIT, La Trobe and Melbourne Universities.
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Last week saw the combined capital city auction market slowdown ahead of the Queen’s birthday public holiday, with only 904 homes taken to auction last week. The lower volumes did little to improve clearances rates last week with the weighted average declining further returning a 53.8 per cent final auction clearance rate; the fifth consecutive week of falls across the combined markets. A very difference result to what was seen one year ago, when a much higher 67.8 per cent of homes cleared at auction over the same week (1,279 auctions).
Sydney was the busiest auction market last week, outperforming Melbourne in terms of clearance rate and number of auctions. There were 415 Sydney homes taken to auction last week returning a 56 per cent success rate, increasing on the week prior when the final clearance rate dropped to 47.1 per cent; albeit volumes were considerably higher across the city.
The public holiday long weekend resulted in very low activity across Melbourne last week, with a very modest 275 homes taken to market returning a 54.9 per cent final clearance rate, decreasing significantly on the week prior when 1,079 auctions were held and 59.8 per cent cleared.
Brisbane, Perth and Tasmania all saw an improvement in clearance rates week-on-week, while Adelaide and Canberra’s final clearance rate fell.
Geelong was the best performing non-capital city region last week, with a clearance rate of 63.6 per cent across 21 auctions.
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Melbourne has busiest five auction suburbs: CoreLogic 

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EcoWorld is making its environmental footprint on the Australian property market with the announcement that Yarra One residents will have access to Tesla vehicles.
It will be part of what is billed as a Victorian first, sustainable car-sharing model.
Located in South Yarra, a suburb that boasts a walk score of 92, Yarra One will be a 4-star green building.
The introduction of Tesla vehicles adds another layer of sustainability and future-proofing the building.
EcoWorld's Cliff Tan said car-sharing service is growing rapidly in popularity and the decision to purchase electric cars was one that is inline with the brands core values.
“EcoWorld adopts an environmentally-responsible approach in all of its project so it was important that we future-proofed Yarra One, particularly as more and more individuals turn towards electric vehicles and opt for car-sharing,” he said.
According to a UBS global autos survey, one in six new cars in the world will be electric by 2025, with predictions that by the middle of the next decade, global sales of electric vehicles should hit 16.5 million.
As well as Tesla cars being available for residents to use, residents will also have the option to include a charging point within their designated car space, as a means of future proofing the building.
Residents will be able to book the Teslas through the body corporate.
Melbourne’s inner suburbs have the lowest car ownership levels in the state with  7,470 Stonnington dwellings  reporting no vehicle ownership, with over 51% of Stonnington residents living in a flat or apartment.
“South Yarra is the sixth most walkable city in the state, with residents having access to everything they need right on their doorstep, so a car isn’t needed for daily errands.
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EcoWorld introduces Tesla car-sharing for Yarra One Development

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Marketing continues on the newest Docklands development, which is being described as Melbourne's new home of five-star living.
The project is the first Marriott to be built in Australia in 20 years.
Gone are the pre-conceived fittings of Marriott's of the past. The carpets and clunky furniture has been replaced by sleek designer inclusions and clean timber flooring.
The <a href="https://www.realestate.com.au/property-apartment-vic-docklands-127795066" target="_blank">Waterfront Way development</a> is wrapped in a translucent screen, with its curved glass facade providing views of the water and the city.
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DKO Architecture are designing the building that will comprise 100 one to three-bedroom apartments above a rectangular hotel podium, which sprouts into two curved petal-shaped towers of 17 levels each.
There will be 200 rooms in total when it opens in 2020.
Crowning the project is a 28 metre wet edge resort-style rooftop infinity swimming pool and adjoining bar.
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On the ground level there will be another bar, a restaurant and a laneway cafe. 
Developed by Capital Alliance, Marriott Docklands is part of the $250 million mixed-use The Docklands project.
Castran Gilbert South Yarra agent Mark Forytarz is handling the marketing. Castran Gilbert have a <a href="https://www.propertyobserver.com.au/component/content/article?id=82173" target="_blank">free e-book on property investment insights in Melbourne.</a>
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Marriott Docklands on Waterfront Way, Melbourne's new home of five-star living

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EXPERT OBSERVATION
Australian housing finance approvals were a touch firmer than expected in April, the number of owner occupier loans down just 1.4% vs expectations of a slightly larger 1.8% decline.
The value of investor loans recorded a 0.9% dip, much milder than March's 9% drop. Despite this, conditions were soft across most of the detail.
The number of new owner occupier approvals, i.e. excluding refinancing, was more in line with consensus, with a 1.9% decline in April taking approvals down 4.4%yr.
The total value of housing finance approvals, including investors but including owner occupier refi, dipped 0.4%mth to be down 5.8%yr (estimates excluding investor refi look to be down about 6.7%yr). Stepping back, the peak to trough move in the value of new finance approvals looks to be a fall of about 10%, roughly on a par with the 2015-16 pull back.
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/13/finance%20approvals.jpg" target="_blank">to enlarge.</a>
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The number of owner occupier construction approvals dipped 0.2% to be down 5.7%yr. The number of owner occupier approvals for the purchase of newly built dwellings fell 3.7%mth but is still up 2.9%yr. On a combined basis, construction-related approvals were down 1.4%mth, –2.9%yr.
The number of approvals to first home buyers (FHBs) continues to ease back from recent highs, declining 1.6%mth. Although approvals are still up 24%yr, they are now 10% off their Nov peak. Activity in this segment has been boosted by increased assistance from state governments in NSW and Vic – measures that in the past have typically generated a significant pull forward in activity that subsequently falls away.
The state breakdown had more detail than usual this month due to the timing of the release which coincided with the release of state lending data for investor loans. The combined figures shows the biggest annual declines in the total value of approvals (incl. investor loans but excl. owner occupier refi) have been in WA (–8.8%yr), NSW (–6%yr) and Qld (–6%yr) with a milder 2.9%yr fall in SA. Vic has seen a slight gain (+1.9%yr) while Tasmania has bucked the national trend with a strong surge (+15.4%yr).
More recent data, from auction markets in particular, suggest housing market conditions have seen a further weakening since April likely reflecting tighter lending criteria. With more stringent assessments also likely to delay loan processing, finance approvals could see a more significant decline in the next few months.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Matthew_Hassan-HHWHptmrw4

Housing finance approvals dip in May: Westpac

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EXPERT OBSERVATION
The latest private sector credit data from the Reserve Bank (RBA) shows that the expansion of housing credit continues to slow with both owner occupier and investor credit growth tracking lower in April. 
The RBA recently released private sector credit figures for April 2018 and the data reiterates the ongoing slowing of demand for housing credit. Over the month, housing credit expanded by 0.4% which, when rounded, was the slowest monthly expansion in housing credit since June 2013. Over the past 12 months, housing credit has increased by 6.0% which is its slowest annual increase since March 2014. The first two charts show how in 2008 and 2013, when dwelling values were falling, the expansion of credit also slowed.
<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/2018/6/12/credit%201.jpg" alt="">
<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/2018/6/12/credit%202.jpg" alt=""> 
Housing credit expansion is slowing for both owner occupiers and investors. Over the month, owner occupier credit increased by 0.6% while investor credit expanded by just 0.1%. Over the month, owner occupier credit expanded at its slowest monthly rate since December 2016 and investor credit expanded at its slowest pace since March 2016. In the recent housing market downturns, it has typically been investor credit growth that has slowed much more than owner occupier. Given that investors have been a substantial driver of housing demand over recent years, it is reasonable to expect that investor credit growth will slow further from here as values in the most investor-centric markets (Sydney and Melbourne) continue to fall.
On an annual basis, it is clear that the slowdown in investor credit growth is entrenched, while owner occupier housing credit has also slowed, but is holding firmer. Owner occupier credit expanded by 8.0% over the past year, its slowest annual expansion since January 2018 while investor credit grew by just 2.3% which is its slowest rate of annual growth since September 2016.
 <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/2018/6/12/credit%203.jpg" alt="">
<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/2018/6/12/credit%204.jpg" alt="">
As at the end of April 2018 there was $2.827 trillion in credit outstanding to Australian authorised deposit-taking institutions (ADIs), Of this $2.827 trillion, $1.755 trillion or 62.1% was to residential housing with a further 32.5% to business and 5.4% for other personal credit. Although it has only occurred over the past two months, after trending higher for many years, the share of total credit that was for housing has edged lower. In previous housing market downturns, the share of outstanding credit to housing has fallen. Given this, the expectation is that the share of total credit for housing will continue to decline over the coming months as values continue to fall.
 <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/2018/6/12/crediet%205.jpg" alt="">
The slowdown in housing credit growth is being driven by a range different factors. Firstly, the Australian Prudential Regulation Authority (APRA) introduced a 10% speed limit on investor credit in December 2014 which has resulted in a slowing of investor credit growth. Although APRA have announced that this cap will be removed shortly it is unlikely that investor credit growth will accelerate in a meaningful way. Secondly, loan serviceability is now being calculated across the board based on an interest rate of at least 7% which has made accessing credit for some more difficult. APRA has also implemented a cap on interest-only lending of 30% of all new mortgages, this has led to a substantial drop in demand for this product which was largely used for investors. Finally, lenders are now typically charging premiums of 60 basis points on interest rates for investors compared to owner occupiers with premiums typically in excess of 100 basis points for investors with interest-only loans.
Although the 10% speed limit is set to be lifted from July 1st, the likelihood of a rebound in housing credit remain low. The 30% cap on interest-only lending has a much more broad based dampening effect on investor activity. Add to this the fact that APRA is now focusing more on minimising debt to income ratios higher than 6 and maintaining a focus on keeping low deposit lending to a minimum and banks are stepping up their scrutiny on borrower expenses and incomes. The net effect is likely to be further tightness in housing credit which will continue to constrict housing market activity and reduce prospects for price appreciation.
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