<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Joel Robinson

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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As a result of a record sales result and interest, Frasers Property’s Putney Hill release ‘Canopy’ has been fast tracked to come to market on November 15.
The first release in the Morrison Precinct of <a href="https://www.putneyhill.com.au" target="_blank">Putney Hill, Canopy</a> includes 131 apartments over three buildings, called East, West and Central, and is on the west end of the 2.4 hectare parkland Lardelli Park.
Recently, Putney Hill sold out of their Reserve properties within a few weeks of launch. 
Canopy will include one, two and three bedroom apartments. Ground floor courtyards and oversized penthouse terraces will also be available. Prices start at $600,000.
They are designed by Cox Richardson Architects and every apartment features basement parking and storage.
Frasers Property sales director Paul Lowe said that Canopy is for buyers looking to buy a high quality product, off the plan, in an established community.
“At the moment, we’re seeing increasing demand for high-quality off-the-plan product, and I think prospective purchasers will be attracted to Canopy’s sophistication, beautiful landscaping and exceptional finishes – it will really epitomise the sophistication and outstanding quality the Frasers brand is synonymous with,” said Lowe.
Putney Hill includes a three kilometre scenic running track, three fitness breakout areas, tennis and basketball courts, and a children’s playground. 
“We recognise that buyers today have more expectations around the amenities on offer when considering a home. We also understand that wellbeing is becoming an increasingly important consideration where families, young professionals and empty nesters are choosing to live,” he said.
Landscape designers Environmental Partnership also focused on the fitness and wellbeing aspect.
More than 250 people currently live in Putney Hill. Construction will start on Canopy in mid-2015. 
 
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Frasers Property fast track Canopy, Putney Hill following record sales

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The annual RAMS First Home Buyers’ Pulse Check Survey has found first timers are looking to enter the property market sooner, even as fewer of them think it’s a good time to buy in.
In fact, of those surveyed, 19% are looking to purchase within the next three to six months, with 15% looking to buy in the next three months. This is an uptick from 14% and 13% respectively last year.
However, 65% this year think it’s a good time to buy, compared to 75% last year.
RAMS chief executive Martine Jager said the figure for first home buyers (FHBs) who want to buy soon is the highest they've seen.
She also noted the age of first home buyers is increasing, with 41% aged 36 or above, up from 30% in 2013.
The proportion of those aged 25 or below has dropped to 18% from 27% in 2013.
“There is a recognition amongst the group that they need to get on that property ladder, they recognise the importance of that first step and making it sooner rather than later. Something we are seeing amongst our customers at RAMS,” said Jager.
“We’re also seeing first home buyers are buying their home for different reasons, with more investors in the market than ever before,” she noted.
While interest rates was noted as an important issue, 70% said that they would still buy if rates were higher. Last year, 75% said they would buy if rates were higher.
Unsurprisingly, saving a deposit is one of the key barriers, with 48% of respondents noting it. Deposit concerns ranked behind property prices, at 49%.
Those requiring a home loan are more likely to have saved for two years or more, with 44% compared to 41% last year, with more saving above 20% of their household income for a deposit.
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Fewer FHBs think it’s a good time to buy, but more intending to: RAMS

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Dwelling price growth is easing, according to the latest Australian Bureau of Statistics (ABS) data, and people are beginning to wonder when, and if, the growth cycle will end.
Property prices are up 9.1% year on year, according to the ABS. For established houses, this figure sits at 9.2%, while for attached dwellings it is at 8.5%.
The Housing Industry Association senior economist, Shane Garrett, said that the figures are a welcome addition to the data that show that price growth is easing to a “much more sustainable rate”.
“The annual rate of home price growth nationally is back in single figures for the first time in a year,” said Garrett.
“At the same time, new home building is stretching to its busiest year in two decades.”
“This is no coincidence.”
Garrett said that the housing industry is looking to meet the increased housing requirements, but noted that capacity is bursting at the seams.
“Any home builder will tell you of the difficulties in sourcing crucial trades like bricklayers, at a time when training budgets in the industry are being slashed by government,” he said.
He also pointed to restrictive land supply.
“It is important that federal and state governments ease the bureaucracy around the release and development of land for new housing. This will help ensure that strong dwelling price pressures do not emerge again in future.”
{mijopolls 62}
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Price growth easing, is the growth cycle nearing an end?

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Sydney’s One Central Park has beaten nominees from every continent to be dubbed the ‘Best Tall Building in the World’ by the Council on Tall Buildings and Urban Habitat (CTBUH).
One Central Park was designed by French architecture practice Ateliers Jean Nouvel and Australian firm PTW.
In June, One Central Park was awarded the ‘Best Tall Building in Asia and Australasia’ which put it in the running for the world’s best tall building. It was up against regional winners; Edith Green-Wendell Wyatt Federal Building, Portland, USA (Americas); De Rotterdam, Rotterdam, Netherlands (Europe); and Cayan Tower, Dubai, UAE (Middle East &amp; Africa).
The building has foliage covering some exteriors and is designed to manoeuvre sunlight into fixed positions. It also has a suspended sky garden on the 29th floor.
Juror and executive director of the CTBUH, Antony Wood, said: “Seeing this project for the first time stopped me dead. There have been major advances in the incorporation of greenery in highrise buildings over the past few years – but nothing on the scale of this building has been attempted or achieved.”
The CTBUH received 88 entries for the award, with most coming from Asia and Europe.
Central Park’s development director, Mick Caddey, said: “Sydney can now claim to have the best tall building in the world, which by anyone’s standards is an impressive claim to make.”
Properties within this development have sold for in excess of $1.3 million. Most of the apartments have been sold, but there are still two-storey penthouse apartments available with a price guide of $2.65 million.
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One Central Park named best tall building in the world

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If you’re familiar with the Perth property market, you’d be aware that the ‘spring selling season’ is considered the most active selling period of the year. 
However this isn’t entirely accurate.
While it’s true there is generally a surge of activity during spring, there is a misconception that September is the start of the boom period, when in fact data suggests sales don’t pick up until October.
Closer analysis of the spring selling season indicates that September is actually the Achilles heel of the notional spring selling period.
There has only been one occasion since 1994 – September 2008 – that we actually saw a lift, every other September in the past 20 years has actually seen sales fall.
Having one less selling day than July, August and October is one theory behind why there is traditionally a drop in September, another is the long weekend that tends to fall during the month, and a case could also be made that with September being the last month for many sporting codes, weekends are taken up with finals instead of home inspections.
The impact these factors have on overall activity cannot be officially measured, but it’s reasonable to suggest they influence activity.
When we really look at it, the spring selling season is confined to just October and November as we then experience a fall away in activity in December as we approach the festive season.
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dairey-MVZf5ZguQC

Perth's spring selling myth

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The question that really needs to be asked is why investors have become so one dimensional? 
The answer is pretty easy given servicing household debt presently sits at the lowest level for the best part of a decade. Finally, as the dust settles commentators are starting to recognise that home owners and first home buyers have not been caught up in the Sydney property euphoria.
Property investors are simply following infrastructure trails such as the South West Rail Link, which is due to be opened early in 2015. What many forget is that such vital infrastructure is decades behind where Sydney’s cumbersome and tired transport networks should really be. These areas are high impact growth areas, although some see them as nothing more than an investor wave of speculation. Of course Sydney’s projected population explosion has no significant relevance in this debate.
One of Australia’s largest residential developers Meriton is <a href="/news/meriton-harry-triguboffs-12-billion-company">currently courting Chinese property developers</a> with the view to selling their entire operation to them – another clue.
Again key points keep getting missed here; the Sydney property market <a href="/expert-insights/the-real-estate-market-is-going-global">is now a global market.</a> We keep referencing what is happening in China, yet fail to point out the increasingly growing number of Chinese residents that now want to call Sydney home as well as a multitude of other nationalities. Sydney is envied as it continues to attract investor funds, which further drive ongoing infrastructure investment given its solid reputation for employment and population growth.
Then of course we must not forget the second Sydney airport which the federal government announced on 15 April, 2014 would be located at Badgerys Creek at a cost of $6-8 billion – again another colossal infrastructure spend. As quick as a flash investors jumped on to this newly created wave of speculation only to see local property prices post double – digit growth.
 What then happened was that the likes of RP Data and APM Price Finder released ridiculous property statistics heralding Sydney house price growth explosions, despite not even closely resembling what is happening in the Sydney markets overall, which if anything have been subdued. The reason is that they sell their respective suburb reports – so given that overall results are average to reasonable at best. They then manipulate key word statistics to on-sell their products. 
This takes me to that old saying pertaining to the use of statistics in the media: “Some people use statistics like a drunken man uses a lamp post – for support rather than illumination.”
<a href="https://www.rwm.com.au/files/2014/11/6-11-2014-9-15-54-AM.jpg"><img class="aligncenter size-full wp-image-223176" src="https://www.rwm.com.au/files/2014/11/6-11-2014-9-15-54-AM.jpg" alt="6-11-2014 9-15-54 AM" width="539" height="366"></a>
On 7 August, 2013 the Reserve Bank of Australia (RBA) decreased the cash rate from 2.75% to 2.50% where fourteen months on it still sits at 2.50%. In time we will see this cash rate become the longest ever hold in RBA history. As I have commented on numerous occasions before, the next move by the RBA will be down. There is a very strong possibility the first number of the cash rate will, in all probability, remain at 2.00 something for quite a few years to come – advantage investors.
Cue the much awaited Murray inquiry which is due for release this month with many agreeing not before time. There are, amongst many interesting recommendations that will be made, two in particular (but I’m speculating). 
The first – that Australian banks must hold more high quality capital to offset their risk weighting of housing loans. If proven true, this will quite possibly see investors move from bank stocks to residential real estate investment. 
Secondly, to offset that risk the Murray Inquiry will recommend negative gearing changes where investors can only claim against that particular asset, as against broad based investment deductions.
On that basis the Abbott government would accept all the recommendations given it would be much easier to sell and furthermore reduces the federal government’s financial exposure to negative gearing – which has become a major mover and shaker in the property investment market. With the benefit of hindsight it’s an embarrassment that the previous Labor government decided to completely ignore the Henry Tax Review recommendations.
It has become completely obvious that RBA ‘jawboning’ has not worked given investors are very, very short on investment choices. The Murray Inquiry ‘macroprudential’ lever will all but ensure that the Australian cash rate remains with a two in front for quite some time to come.
For those actively spruiking that imaginary ‘bubble’ conversation – your argument basically ceases to exist. Unless of course you’re from RP Data or APM Price Finder and you’re selling ‘suburb reports’.
The saddest part with this entire property critique is that property investors are mistaken in the vital role they play in the machinations of the Australian economy. Australian Census figures reveal that approximately one-third of the Australian population reside in rental properties.
The Murray inquiry will make for compelling reading where no doubt it will more than ruffle a few feathers.
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robertsimeon-hRNTwJyXkQ

Sydney investor splurge is much ado about nothing

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The Perth residential property market is officially in decline.
House prices fell in Perth during the September quarter, albeit by just 0.1%, according to the Australian Bureau of Statistics (ABS).
It was the only capital to record a decline in the ABS price index, released today.
Perth dwelling prices still sit 3.6% up for the year, but gone are the days when Perth’s housing market was the strongest in the country, boosted by the thriving mining industry.
Westpac economist Matthew Hassan noted the preliminary estimate of the ABS Residential Property Price Index showed "a notable slowdown" in Perth with prices flat over the last six months.
The preliminary estimate of the ABS Residential Property Price Index showed a solid 1.5% gain in Q3, down on Q2's 1.9% gain but in line with Q1's 1.4% rise.
Annual price growth has moderated from a peak of 10.8% at the start of the year to 9.1% in Q3, a result that was in line with expectations, Hassan suggested.
"All price measures are pointing to a clear moderation in momentum in 2014 although most suggest this is a step down from a 10-14% annualised pace to a 6-8% pace.
"To date, readings for the second half of the year point to a continuation of this pace rather than a further slowdown.
The ABS index detail shows national house prices up 1.6% over the quarter, 9.2% over the year and attached dwellings up 1.2% over the quarter, and 8.5% over the year.
He noted that estimates for Q3 and Q2 are still preliminary and subject to revision.
The ABS plans to change this arrangement in 2015, pushing back the release date by six weeks so that published figures will be 'final' from first release.
"Unfortunately that will make what is already the last price measure to be published even less timelier and useful for analysts," Hassan said.
The capital city breakdown continues to show strong gains in Sydney (+14.6% year on year), more moderate gains in Melbourne (+6.9% year on year), Brisbane (+6.7% year on year) and Adelaide (+5.6% year on year).
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jchancellor-FAypfDUnLy

As mining eases Perth residential market marginally in decline: ABS

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Auction clearance rates (ACR) are reported at the start of the week, expressed as a percentage. They have been recorded since the early 1980s and have since cemented themselves as a leading indicator of market sentiment.
There are a number of providers of auction clearance rates, however the two most often relied upon are Australian Property Monitors (APM) and RP Data. The Real Estate Institutes often present their own clearance rate data as well. These data sets are regularly different to each other, making auction clearance rates particularly confusing.
In a nutshell, a low auction clearance rate usually indicates a buyer’s market, while a high auction clearance rate indicates a seller’s market, or a hot market. A neutral market is around the 50% mark, however it’s worth knowing the norm for the city you’re considering.
So what exactly are they counting?
The percentage of the ‘clearance’ rate is those that cleared or, in other words, those that sold. However, different companies have slightly nuanced ways of collecting this data.
Auction clearance rates tend to include the sold at auction results, as well as those sold directly before or after. Passed in and withdrawn auctions are also collected. APM considers withdrawn properties to be ‘no sale’, just as those that are passed in are considered ‘no sale’.
Their calculation is:
Clearance Rate = (Sold at auction + Sold prior to auction)/(All reported + withdrawn)
However, they collect their data on Saturday, for publication in the Sunday papers, and their process of collecting results will still continue after this time. Unsurprisingly, the revised figures later in the week may moderately differ.
APM refers to their figures as the “most conservative” of any source presented in mainstream media. However, they <a href="/news/the-current-method-of-gauging-the-strength-of-the-market-is-both-flawed-and-lazy">have come under fire over the past year for not publishing the total auction listings </a>and not including unreported auctions, which may make the ACR seem higher.
The Real Estate Institute of Victoria uses this equation:
Auction Clearance Rate = (Sold at auction + Sold before auction + Sold after auction)/(Number of reported auctions)
They opt not to include withdrawn or postponed auctions saying that they haven’t been subject to a full auction campaign. Their ‘sold after’ figures apply to those sold on Sunday, but not Monday, and still under auction conditions.
RP Data also includes the results of those sold before and after auction. ABC Fact Check notes that they only rely on the number of reported auction results for which the outcome is known.
As you can see, these statistics would vary significantly from each other. Unsurprisingly, there has been close scrutiny and questioning of auction statistics in recent times.
A research paper from Deakin University, Residential auction clearance rates – what do they really mean?, looks closely at the Melbourne market ACR and its limitations.
“Caution should be exercised when interpreting what it actually means and its limitations are rarely discussed in real estate circles; for example there is no consideration given to the number of bidders at the auction, how much [%] the property exceeded the vendor’s reserve, the number of bids or the number of competing auctions in the surrounding area at the same time,” the report explains.
“At times the auction clearance rate is sourced from a narrow segment of the market with few sales and therefore cannot directly applied in across greater Melbourne.”
The study did, however, note that there is a correlation between house prices and the ACR.
<img src="/images/2014/11/11/acr%20nov%2011%20one.png" alt="">
Usually, real estate agents report the results of an auction to a data house (by phone, or by an online portal), which the Deakin study explains is as a result of agents’ requirement to appear competitive in the market. However, at present this reporting is voluntary, not mandatory, and so can cause only impartial results if agents opt to not report over a weekend. There has been some suggestion that when clearance rates are low, real estate agents are less inclined to report.
When reported, newspapers and media outlets look for records, or six-month highs or lows, or anything to provide the ACR a newsworthy hook. Despite this making for interesting reading, clearance rates are best used when looking at longer time periods of data, and trends, as a result of how easily affected each weekend can be by events or poor data collection.
They are also an indicator of the broader market’s performance. This can be useful to understand how a city is faring generally, but may not be specific enough to assist you when looking at micro markets (this is where your own research into what is selling comes in handy). Remember that while auctions are much-discussed, private treaty is by far the most common method of sale.
Similarly, markets without an auction culture will find the clearance rate statistic less useful. For instance, Sydney and Melbourne are the two largest auction cities across the country. Hobart and Adelaide investors may barely consider the ACR. Similarly, some suburbs have a higher reliance on private treaty than others (smaller areas away from the city and regional areas in particular), meaning you need to know your local market well if you want to know how much to rely on this statistic.
In summary, the statistics can be useful when considered over a lengthy period of time, and when you understand specifically what is being recorded. However, it is just one of a number of factors you must consider and should be used in concert with your own localised research.
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What is an ‘auction clearance rate’? Investment terms explained

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A Clontarf beach-front home was the most expensive sold in Australia last week, according to RP Data. The mid-century house (pictured in the gallery above) sold for $4,875,000, changing hands for the first time in 60 years.
Second on RP Data's list was a Bellevue Hill home, which secured $4.61 million. Once again Sydney homes dominated the top-end sales, with just one appearance each from Victoria, Queensland and Western Australia.
RP Data's top 10 sales for the week ending Sunday 9 November: 
<a href="https://www.realestate.com.au/property-house-nsw-clontarf-118133639" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">29 Monash Crescent, Clontarf, NSW</a> <img src="/images/2014/11/11/1.jpg" alt="">
The Clontarf house was sold through Belle Property. With direct access to the beach through the back gate, the home has a full panoramic view of the harbour through full height picture windows and sliding doors, which open to the back terrace. The terrace has a separate undercover entertaining area.
The home has four bedrooms and three original bathrooms, with a "retro-style" kitchen.
<a href="https://www.realestateview.com.au/Real-Estate/29-bulkara-road-bellevue-hill/Property-Details-buy-residential-7682968" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">29 Bulkara Road, Bellevue Hill, NSW</a> <img src="/images/2014/11/11/2.jpg" alt=""> A five bedroom, six bathroom house in Bellevue Hill sold for $4.61 million last week through Laing + Simmons Double Bay. The main house, with multiple entertaining terraces, shares the 892 square metre plot with a free standing pool house.
According to the listing information, there is scope for a future second floor renovation on the home. The sellers bought it for $3 million in 2009.
<a href="https://www.realestate.com.au/property-house-qld-yeronga-118120535" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">365 Brisbane Corso, Yeronga, Qld</a>
 <img src="/images/2014/11/11/3.jpg" alt="">
The only Queensland home to make it to this week's top 10, this Yeronga house sold for $4.38 million through Place Graceville.
Constructed by the TAK Group in 2008, the three level home sits on a 916 square metre riverfront site, with 800 square metres of internal floor space. Materials used in the house include natural stone and polished timber. There is a pool along the side of the home's raised second level, with a spout pouring water from the wall of the house's third floor.
Although it was one of Australia's most expensives homes sold this week, the vendors still made a loss on 365 Brisbane Corso. They paid $5 million for the residence in 2009.
<a href="https://www.realestate.com.au/property-house-nsw-mosman-118107239" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">14 Euryalus Street, Mosman, NSW</a> <img src="/images/2014/11/11/4.jpg" alt="">
A Mosman home designed by French born Sydney architect Guy de Compiegne sold for $4.15 million through LJ Hooker Mosman. Compiegne has spoken before about the changing nature of entertaining spaces in homes – this one, with its large marble kitchen island and open plan living area, seems to align with his ideas about high visibility, theatrical entertaining.
Many of the north-facing house's rooms offer panoramic views of Middle Harbour, and the home has a nine metre pool. 
<a href="https://www.realestateview.com.au/Real-Estate/11-ruby-street-mosman/Property-Details-buy-residential-7752208" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">11 Ruby Street, Mosman, NSW</a> <img src="/images/2014/11/11/5.jpg" alt="">
The second Mosman home on this week's top 10 list sold for $3,971,000 at auction through Shead Property Chatswood. The sale marks the first time the circa 1907 house has changed hands in 70 years.
With a view of the city skyline, the Opera House and the Harbour Bridge, the house is set high on its 835 square metre plot. It has four bedrooms. The home features stained glass bay windows, fireplaces in the formal lounge and dining room, a cellar and a workshop.
Article continues on the next page. Please click below.
<a href="https://www.realestateview.com.au/Real-Estate/9-cole-street-hawthorn-east/Property-Details-buy-residential-7737540" target="_blank"></a>
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<a href="https://www.realestateview.com.au/Real-Estate/9-cole-street-hawthorn-east/Property-Details-buy-residential-7737540" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">9 Cole Street, Hawthorn East, Vic</a> <img src="/images/2014/11/11/6.jpg" alt="">
This Hawthorn East home with a faux Parisian façade sold for $3.8 million through Hocking Stuart Balwyn. The interior is as ornate as the exterior, with European Oak parquetry throughout, New York marble used in the kitchen and fireplaces and a calacatta marble en suite for the master bedroom.
There are five bedrooms and four bathrooms in home, with an entertaining area, kitchen and solar heated pool outside. Vendors purchased the property for $1.65 million mid-last year before building the current residence.
<a href="https://www.realestateview.com.au/Real-Estate/248-marine-parade-cottesloe/Property-Details-buy-residential-6714305" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">248 Marine Parade, Cottesloe, WA</a> <img src="/images/2014/11/11/7.jpg" alt="">
The only West Australian home to appear on this week's top 10 is a $3.7 million Cottesloe home. The four bedroom, three bathroom house was designed by Perth architect Gary Banham.
After 268 days on the market, the home with ocean views was sold through Mack Hall Real Estate.
<a href="https://www.realestate.com.au/property-house-nsw-strathfield-118149319" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">81 Homebush Road, Strathfield, NSW</a> <img src="/images/2014/11/11/8.jpg" alt="">
This three level heritage home sold at auction through Richard Matthew Real Estate Strathfield, who boast the $3,601,000 price was $451,000 over reserve.
The eight bedroom, five bathroom house is set over five levels on a 1,808 square metre parcel. It features formal and informal living spaces, wraparound balconies, marble fireplaces, lead lights and a separate one bedroom apartment.
<a href="https://www.realestateview.com.au/Real-Estate/12-hall-street-brighton/Property-Details-buy-residential-7733080" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">12 Hall Street, Brighton, Vic</a> <img src="/images/2014/11/11/9.jpg" alt=""> A triple storey Georgian inspired home sold for $3,515,000 through Greg Hocking Real Estate St Kilda. The five bedroom, three bathroom Brighton house is situated on a 894 square metre plot a house away from the Billilia mansion estate, within walking distance of the William Street Reserve and Church Street.
Herringbone parquetry floors are seen throughout the home's living and entertaining areas, which include a formal lounge and dining room. At the rear, french doors open onto the outdoor entertaining area and gardens.
<a href="https://www.realestate.com.au/property-house-nsw-north+bondi-107613381" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">71 Hastings Parade, North Bondi, NSW</a> <img src="/images/2014/11/11/10.jpg" alt="">
Raine &amp; Horne Bondi Beach secured $3.13 million for this five bedroom North Bondi house.
The living area of the freestanding home has blackbutt timber floors, with an open flame gas fireplace. Outdoors, there is a deck for entertaining, an outdoor shower and a five metre spa.
Sellers bought the house in April 2012, paying $2.4 million.
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Clontarf waterfront home tops sales: RP Data

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Sydney's cheapest weekend residential sale was a $400,000 Darlinghurst studio apartment.
The price guidance was over $335,000 for the 38 square metre apartment with balcony.
The McGrath marketing noted a $400 a week rental for the third floor apartment at <a href="https://www.mcgrath.com.au/buy/apartment-darlinghurst-nsw-2010/242001/?searchID=44347085" target="_blank">8/19 Kirketon Road, Darlinghurst</a>.
It last sold in late 2012 at $300,000 reflecting, 15% annual price growth for the 1995 built offering. 
It is a rare example where actual price movements have mirrored the Sydney median price growth over the matching period.
However its prior two sales show a longer and slower price growth that beset Sydney.
It sold in 2006 for $220,000 and in 2001 at $195,000.
Its annual council rates at $808, the annual water rates are $721 and strata levies $640 a quarter.
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