<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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Capital city rental performance data shows that across Australia’s combined capital cities rents are rising at a pace slower than inflation and recorded an annual growth rate of 1.8%.
With rental yields at such low levels it seems investors are firmly focussed on capital growth.
RP Data’s monthly combined capital city rental market analysis for the past 12 months, confirmed that this result was the slowest annual rate of rental growth since August 2003.  
The rate of rental growth is easing on the back of a large rise in capital city home values and a strong rise in the supply of new homes being built. Added to this is the impact of record level investor buying which ultimately affects overall rental market supply. Slow rental growth rates have a knock on effect for rental yields.
Around the capital cities:
<ul>
<li>Sydney rental rates increased by 3.5% over the past year while home values are up 13.1%.  Subsequently yields are recorded at 3.7% the lowest reading since August 2005; </li>
<li>Melbourne home values are 8.9% higher over the year while rents have increased by a much lower 2.5%.  Gross rental yields are recorded at 3.3% which is the lowest gross yield across the capitals and equivalent to the lowest yield on record; </li>
<li>With a gross rental yield of 4.5%, yields in Brisbane are at their lowest level since September 2011.  Brisbane rents have increased by just 1.3% over the past year compared to home value growth of 5.6%; </li>
<li>Adelaide home values have increased by 4.3% over the past year while rental rates have increased by 1.5%. Rental yields currently sit at 4.2%, their lowest level since September 2012; </li>
<li>Rental rates in Perth have fallen by -3.1% over the past year while home value have increased by 3.4%. As a result, rental yields are recorded at 4.1% their lowest level since January 2012; </li>
<li>Hobart rental yields currently sit at 5.4% their highest level since November 2013.  Over the past year Hobart rents have increased by 2.4% and home values are 4.4% higher; </li>
<li>Darwin home values increased by 5.0% over the past year while rents fell by -0.1%.  As a result, yields have been relatively steady at 5.9% over recent months; </li>
<li>Canberra rental rates have fallen by -4.9% over the past year while home values have increased by 0.9%.  Gross rental yields in Canberra increased over the month to 4.2%.</li>
</ul>
<img src="/images/2014/11/06/kusher-nov-6-one.jpg" alt="">
<img src="/images/2014/11/06/kusher-nov-6-two.jpg" alt="">
Looking at all dwelling results at a combined capital city level, gross rental yields were recorded at 3.8% in October 2014 which is the lowest reading since January 2011.  
With the rate of capital gains outpacing rental growth we are seeing rental returns reduce across all capital cities. In fact, over the past year gross rental yields have fallen across each capital city.
RP Data research suggests that a surge in building approvals over the past 18 months is a likely contributor to slower rental growth rates.
<blockquote>
With rental yields at such low levels it seems investors are firmly focussed on capital growth.
</blockquote>
With the number of home sales rising as a result of new supply, more investor-owned properties and population growth slowing, renters now have comparatively more choice when it comes to housing options and as result the owners of investment properties have less scope to increase weekly rents given the large supply of alternate accommodation options.
With a larger supply of new housing and low interest rates likely to drive further growth in home values we anticipate that rental growth will remain subdued over the coming year.  In fact we may see the rate of rental growth slow further as renters see more and more accommodation options being built.  
With such tepid growth in rents and such a high level of investment activity it is clear that most investors are buying residential property with a view to capital growth rather than rental returns.
Click to open in new window: 
<a href="/images/2014/11/06/kusher-nov-6-three.jpg" target="_blank"><img src="/images/2014/11/06/kusher-nov-6-three.jpg" alt=""></a>
<a href="/images/2014/11/06/kusher-nov-6-four.jpg" target="_blank"><img src="/images/2014/11/06/kusher-nov-6-four.jpg" alt=""></a>
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ckusher-ujnxiKuFQs

Capital city rental rate growth the slowest in over a decade

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Construction will commence later this month on Golden Age Group’s Victoria One, which on completion will be the tallest building in Melbourne’s CBD.
Construction is scheduled to be completed in 2017.
Victoria One will stand 241 metres high, set to beat Bourke Place (224 metres) and Telstra Corporate Centre (218 metres) as the CBD’s tallest tower. It will be Melbourne’s second highest residential building, behind the Eureka Tower on Southbank. 
The $350 million project, designed by architects Elenberg Fraser, will comprise 629 apartments over 75 levels and will be built on the corner of Elizabeth and Franklin Streets.
The tower will include 163 car parks, a pool, spa, gym and a communal entertaining area.
In the first four months on the market, 95% of apartments were sold. But what kinds of buyers are purchasing these apartments?
“These types of projects will find buyers in any market,” said founder of Golden Age Group Jeff Xu.
According to Xu, the majority of purchasers at Victoria One are local owner occupiers, though the project has also garnered interest from investors, both local and offshore.
Xu believes that the depth of local interest indicates a shift from the traditional Melbourne suburban lifestyle. 
“It signals a change in people’s desire to live closer to the city” says Xu.
One bedroom apartments at Victoria One are priced from $370,000, with two bedroom apartments starting at $473,000 and three bedroom apartments selling from $890,000.
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owisniewski-RiYLqnXfKH

Majority of Victoria One apartments selling to local owner occupiers

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Everyone thinks they’re a bit of a real estate expert, and while that makes for fun family BBQs, it doesn’t necessarily mean you should take everything as gospel.
When anyone offers you their two cents (and sometimes more) on the property market, it’s worth asking the following questions to determine how much you can actually rely on the details.
Some of these you can ask to the individual themselves, while others are for you to consider.
Here’s our seven questions to be asking:
<ol>
<li>
Who is paying them? Following the money has always been a good strategy in real estate. Someone you are paying is more likely to have your best interests at heart. For instance, a buyer’s agent that you pay a fee to is more likely to be working for you and giving you good advice than the real estate agent who is receiving a commission from the vendor’s sale. Find out where they get their money from, and any conflicts of interest that may arise from kickbacks or commissions. 
</li>
<li>
What data is this information based on? Asking to see the statistics and source material behind someone’s assertion can help you out. Everyone’s interpretation of information differs, and it’s worth figuring out if you agree with the interpretation being provided by the guru you’re speaking to. You may also discover issues in their source data, or a selective choice of information. Head back to the source. If they are hesitant to reveal their statistics and sources, it’s time to be wary. 
</li>
<li>
Do they have any personal experience with what they are telling you? Personal experience can give someone a specialised level of expertise, and a mentor who has “been there” can quickly point out issues with your renovation plans, or tell you what you might need to watch out for. This can be invaluable. However, beware of the expert who hasn’t done it themselves before and relies on living through others’ experiences. Certainly, not every person must have personal experience, but it can help understand where they’re coming from. For those who have invested and been burnt in the past, you may also find that there is some personal bias and risk aversion. Ensure that you know what experiences they have had so you are aware of any potential bias. 
</li>
<li>
How much professional experience do they have? For those in the industry, it’s worth knowing what education they’ve had and for how long they have been in the profession. While this doesn’t mean that anyone without that level of industry experience cannot provide good information, and certainly doesn’t suggest that all industry veterans are well placed to assist, it does allow you to be on your guard. For those that are not in the industry, such as family and friends, it’s worth knowing what their other qualifications are. There are many overlapping and useful details 
</li>
<li>
Why are they offering you the information? As above, if you’ve paid for the services that is one reason someone will provide information. Otherwise you want to know whether they’re selling you something or trying to do a good deed. Understanding the motivations of the expert will go a long way to explaining the type of advice they’re dishing out. 
</li>
<li>
Is the information ratified by any other experts? Knowing whether many other professionals or knowledgeable property buyers agree with this individual can help you find out problems before they affect your purchase. Look for the arguments other experts have made against them, either in news articles online, forums or just by speaking to them, and think carefully about whether these counterpoints have much ground. Take the opposing arguments to that expert to really test their advice. 
</li>
<li>
How have they made their advice relate to you? If their advice is generic, it’s worth being wary. If they know nothing about your finances, tolerance for risk, background and future plans, then it’s likely not prudent for them to be suggesting a first time buyer drops $800,000 on a mining town investment. The more they ask about you, and the more flexible they are around your personal circumstances, the more likely they are actually considering what investment suits your profile. There is no one size fits all for every buyer.
</li>
</ol>
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jduke-EHk3XBmHkn

Seven questions that will help test "expert" advice

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Over the quarter to September, houses performed better than units in the country's capital cities, according to RP Data.
RP Data's Daily Home Values Index recorded 2.3% growth in house values for the three month period, while units increased by a more modest 1.3%.
The house price growth was largely driven by Sydney's <a href="/expert-insights/investing/sydney-house-prices-streak-ahead-in-september-quarter-rp-data">4.5% quarterly increase</a>, but in the unit market, Adelaide was the best performer.
The South Australian capital recorded a 3.1% increase in unit values. Sydney's unit prices increased by 1.7%, pushed out of second place by Melbourne, with 2.2% growth.
Four of the remaining capital cities recorded a value decrease.
Unit prices in the Northern Territory capital dropped by the largest proportion, with a 4.7% dip.
The quarterly unit price figures:
<ul>
<li>Adelaide</li>
</ul>
Change: +3.1% Median price: $333,000
<ul>
<li>Melbourne</li>
</ul>
Change: +2.2% Median price: $472,000
<ul>
<li>Sydney</li>
</ul>
Change: +1.7% Median price: $590,000
<ul>
<li>Canberra</li>
</ul>
Change: 1.0% Median price: $398,500
<ul>
<li>Brisbane</li>
</ul>
Change: -0.4% Median price: $380,000
<ul>
<li>Perth</li>
</ul>
Change: -3.0% Median price: $450,000
<ul>
<li>Hobart</li>
</ul>
Change: -3.8% Median price: $250,000
<ul>
<li>Darwin</li>
</ul>
Change: -4.7% Median price: $536,200
Source: RP Data.
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jrichardson-uRX5hFdKfN

Unit price growth outshone by houses: RP Data

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Private treaty time on market blew out again in Brisbane and Perth, according to the latest October figures from Australian Property Monitors.
Only Melbourne and Canberra avoided any deterioration in time on market, but just by a one day improvement.
Sydney and Adelaide enjoyed a marginal weakening, but only by a day.
Sydney was among the capitals where vendor's discounting deteriorated during October.
The Gold Coast stayed the same at 121 days, the longest time required by vendors across the surveyed cities.
But the Gold Coast also achieved a low discounting status of 6.1%, a level that hasn't been seen for many years. 
Click to open in new window: 
<a href="/images/2014/10/29/apm-oct-29-one.jpg" target="_blank"><img src="/images/2014/10/29/apm-oct-29-one.jpg" alt=""></a> 
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jchancellor-FAypfDUnLy

Brisbane and Perth time on market October blowout for vendors: APM

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A working Paddington garage has been listed for sale, with the prospect it could become a residential abode.
The almost 100 year old building was once the site of a fire station, complete with horses and water-laden carts.
Three generations of auto mechanics later took the reins, <a href="https://goodyer.com.au/1P2727" target="_blank">the Goodyer marketing advised</a>.
The hillside 1a Ormond Street property has the potential to match the adjoining three and four-storey Paddington home.
There is a heritage listed facade.
It has a 5.8 metre wide by 12.6 metre deep footprint. Owner Les Rechnitzer is selling up after 17 years. Initial buying interest has been expressed at easily over $1 million.
It's listing comes after the recent successful conversion of a private garage in nearby Hopewell Street.
The former Paddington garage transformed into a two bedroom terrace with parking fetched $1.415 million. It had the issue of a de-serviced petrol pit.
The then single storey lock-up garage<a href="https://www.realestate.com.au/property-house-nsw-paddington-113013491" target="_blank"> sold at $822,500</a> in July last year. Positioned between <a href="/expert-insights/buying/transformed-paddington-garage-now-with-residence-atop">adjoining terraces</a>, the then lock up garage occupied its 76 square metre block with a width of 4.6 metres.
<a href="https://www.realestate.com.au/photogallery_new.ds;jsessionid=AD5F9A0E1C4DFC4221F5BDA19ECB4AD6?id=113013491&amp;theme=rea.sold" rel="photos" data-id="113013491"><img src="https://i1.au.reastatic.net/456x342/471c7d6ef95c494be7037f09057f5a8409447d6482edc9286f3754348d813452/main.jpg" alt="19 Hopewell St, Paddington" title="19 Hopewell St, Paddington" data-index="0"></a>
Above: The garage before its renovation.
<a href="/expert-insights/buying/transformed-paddington-garage-now-with-residence-atop">It now has 93 square metres of living space</a>, plus 23 square metres of courtyard along with Centrepoint Tower views.
<img src="/images/phocagallery/2014/09/paddington-sept-23/paddington_0000_j1.jpg.jpg">
Above: The garage after its renovation.
The <a href="/news">Paddington</a> house price median sits at $1.55 million according to RP Data.
The Hopewell Street offering sold through Position Realty agent Deborah Terley with development approval last July and again last month.
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Former fire station turned Paddington mechanics garage listed for auction

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A Melbourne newspaper article this week bemoaned the fact that “first home buyers in Melbourne fall well short of the median house price”.
It noted that the median house price was $590,000 and the median unit price was $460,000 but, according to PRDnationwide research, the average first time buyer could only afford to spend $372,000.
“First home buyers are increasingly being pushed to the fringes of Melbourne,” wailed the article.
My responses to the information in those three preceding paragraphs are these: So what? So what? And, again, so what?
Newspapers never get tired of their pet real estate theme – i.e. the 'Great Australian Dream' is dead. Research companies, and others suffering from limelight deficit syndrome, know that if they toss together some figures, call it research and send a bleeding heart press release to a newspaper, publicity will inevitably follow.
Whether through ignorance or mischief, this article, like so many others, missed the point several times.
The first point they missed is that first home buyers are not being asked for pay the median house price for a home, nor the median unit price. If the median house price was $590,000, by definition it means that half of all house sales were for less than that figure – in many cases, for a lot less.
Another point missed is that if $372,000 is what people can afford, there are heaps of options in Melbourne. The Hotspotting team did some research, looking for suburbs with median house prices and/or median unit prices under $400,000. If the median is $400,000 or less, it means half of all sales are below that figure, so plenty of possibilities around $370,000.
We found 214 Melbourne markets that were affordable, by that criteria. And you don’t have to go out to the fringes to find them.
<a href="/news">Brunswick West</a>, where the median unit price is $385,000, is not on the fringes. <a href="/news">Footscray</a>, with similar numbers, is 6.5 kilometres from the Melbourne CBD. Neighbouring <a href="/news">West Footscray</a> is cheaper still.
The Sunshine suburbs, which all fit the affordability criteria (and offer major medical, education and transport infrastructure), are 10-12 kilometres west of the CBD.
Many of those 214 affordable markets were more distant. Some are right out on the outskirts of the metropolitan area (but many of them in areas with good capital growth records).
But there’s another point missed by the article: it’s not a national crisis if first time buyers have to go to the fringes to find a house they can afford. It has always been thus and, I imagine, always will be.
I bought my first home in the early 1980s. I was working in central Brisbane but had to go to the far south-west of the metropolitan area, out in Ipswich City, to find something in my price range. I spent three hours every day on trains.
It was a dogbox house in a dog of a suburb, but it got me started. And, like a lot of ugly real estate, it grew in value. My second purchase was a lot closer to the action and the third was a good house in a good suburb, not far from the CBD.
That’s how home ownership works. You make sacrifices and compromises to get started, and work your way up from there. If all goes well, you’ll achieve your dream home long before you retire.
The bottom line: the nation owes its citizens shelter. But it doesn’t owe anyone their dream shelter in their dream location as a first purchase.
If anyone wants it badly enough, there are hundreds of market options around the Melbourne area. But if you’re not prepared to make some compromises, get used to renting.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

First home buyers: If you’re not prepared to make compromises, get used to renting

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There has been fierce debate around commercial licensing recently. The Real Estate Institute of Victoria's (REIV) Enzo Raimondo is particularly against the recent changes.
Here's a Q&amp;A with Raimondo explainging why they oppose the gazetted regulatory changes.
What are the changes to commercial licensing?
The Victorian government has gazetted a regulatory change which enables anyone involved in the sale of real estate other than residential or rural land, will be exempt from the licensing requirements of the Estate Agents Act where,
<ul>
<li>The price in the contract of sale is at least $15 million or the property has a total gross floor space of at least 10,000 square metres.</li>
<li>Each party to the sale purchase or exchange of real estate owns other real estate with a total value of at least $15 million or a total floor space of at least 10,000 square metres.</li>
</ul>
Anyone involved in the leasing of real estate other than residential property or rural land, will be exempt from the licensing requirements of the act if the person or company for whom the person is acting owns property with a total of at least $15 million or a total floor space of at least 10,000 square metres.
It should be noted that the ALP, on Monday announced that it will review these changes if elected in Victoria at the upcoming state election on 29 November.
How does the REIV believe this will affect the industry and consumers?
It will create a two-tiered system where some agents will be licensed (for sales and leasing transactions below the threshold) and others won’t be licensed.
This will open the industry up to unqualified and inexperienced operators - and potentially criminals - because there will be no probity checks, and the operators will not be required to maintain an audited trust account or comply with the requirements of the estate agents act.
This will lead to a high level of financial risk to vendors, purchasers, landlords and tenants and means that thousand s of small businesses in Victoria will lose the inherent safeguards provided by the estate agents act.
This will hurt small business tenant in Victoria and may lead to increased rents, prices and put thousands of jobs at risk.  
What will the REIV be doing to stop the changes?
The REIV continues to lobby both sides of government in regard to the changes, and is running a public campaign leading up the state election (and beyond).
Are there any other changes to commercial licensing that should be implemented?
There is already an exemption in place for large commercial transactions between related parties, which the REIV believes is sufficient to meet the needs of a wide variety of stakeholders involved in these transactions. For this reason there is no need for the changes that have been proposed.
They represent deregulation of the commercial and industrial estate agency practice, yet are being promoted as red tape reduction.  
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Victoria's proposed commercial licensing changes: Q&A with the REIV's Enzo Raimondo

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Sunland Group’s Brisbane CBD development is one of the fastest selling in the city, offering 147 apartments, villas and penthouses across 40 levels.
The <a href="https://sunlandgroup.com.au/abian-apartments/%20" target="_blank">Abian Botanic Gardens development</a>, marketed as a “new inner dress circle” location, overlooks the botanic gardens and offers large, prestige residences.
Three bedroom plus study apartments, across 160 square metres, are priced from $1,395,000, while three bedroom plus media rooms, cost upwards of $2,605,000. Four bedroom plus study and media room apartments are north of $3,330,000
Residents' facilities include a concierge, executive lounge, swimming pool, spa, gym and steam room. Each apartment is expected to be visually striking with 2.7 metre high ceilings and floor to ceiling glass windows. The outside façade will be curved, with the design from Wood Marsh Architects.
Despite the high selling point, they’re in demand.
"Abian was ranked the fastest selling apartment project in Brisbane during the first quarter of 2014,” Colliers International’s marketing campaign claims.
Construction has begun in June this year, with completion expected for mid-2017.
It has already attracted big name residents, with celebrity chef Matt Moran spending close to $1 million in May this year. He purchased a two bedroom, two bathroom lowrise apartment, <a href="/news/chef-matt-moran-buys-in-owner-occupier-abian-brisbane-apartment-block">as reported by Title Tattle</a>.
Earlier this year Property Observer named Abian as <a href="/news/qld/five-strong-queensland-markets-and-the-developments-driving-them">one of the developments driving Brisbane City</a>, with 108 apartments sold in the first quarter of 2014, according to Urbis.
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Abian Botanic Gardens, one of Brisbane’s fastest selling developments

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The Melbourne suburb of Hawthorn is a favourite among top end owner occupiers and investors alike.
Six kilometres east of the CBD, the suburb sits along Melbourne's private school belt, and is home to Scotch College. Next to Kew and Camberwell, it also offers easy access to Xavier College, Carey Baptist College among many other private schools.
Glenferrie Road is the main shopping and leisure strip in the suburb, with a variety of cafes, grocery stores and clothing retailers. The strip also serves as the central public transport hub, with Glenferrie Station and the route 16 tram. The suburb also houses Auburn Railway Station and Hawthorn Station, while tram routes 48, 70, 72, 75 and 109 also cart private school students to and from the area.
One of Melbourne's older suburbs, Hawthorn has managed to stretch its post-gold rush riches to the present day. It remains a desirable spot to some of the city's wealthiest families, with RP Data recording a median house price of $2,135,000 for September.
Its early popularity also means the suburb is populated with Victorian and Edwardian homes, which are a major drawcard for buyers, according to Marshall White Hawthorn's Stuart Evans.
He told Property Observer that a combination of character homes, local educational institutions and local amenities command demand from premium buyers.
{qtube vid:=Ug3X6GJnYpU}
Evans did, however, also note that the area sees a diverse mix of stock.
"Hawthorn's market is mainly made up of period homes: beautiful Victorians and Edwardian homes. There is a good mixture of apartments - high density living apartments - due to Swinburne University, so we see that offers some great opportunities for investors as well," Evans said.
Swinburne University attracts a number of students to the suburbs, with multiple low rise apartment complexes in the area catering to students.
However, according to SQM Research, the implied gross rental yield of apartments in the area has been volatile, reaching above 10% in mid-2010 and now sitting around 5%. SQM Research estimates that a two bedroom unit is likely to attract $400.30 at the time of writing.
This <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-414307723" target="_blank">two bedroom apartment</a> is currently advertised at $385 per week (pictured below).
<img src="/images/2014/10/28/hawthorn%201.jpg" alt="">
According to RP Data, the median asking price for a unit in Hawthorn is $593,000.
Median unit prices, which grew by 6.4% in 2013, saw a big uptick in 2010, with RP Data recording 32.4%. They certainly fared better through the period than house prices, which dipped in 2009 by 10.8%.
Hawthorn was not immune to the post global financial crisis downturn in prestige prices, although it has made a recovery, with 13.8% capital growth in median house prices in 2013.
The suburb's premium houses still command high prices: late last month, the six bedroom house pictured below <a href="/expert-insights/buying/rammed-earth-hawthorn-5-35-million-sale-rp-datas-top-10-sales">sold for $5.35 million</a>.
<img class="img-responsive" src="/images/2014/10/7/rammedearth_0009_image2.jpg.jpg" alt="Rammed earth Hawthorn $5.35 million sale: RP Data's top 10 sales">
But the high volume of student accommodation means it's not all prestige stock in Hawthorn. At the other end of the spectrum, this <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-106622918" target="_blank">25 square metre apartment</a>, advertised as "larger than most", was offered with a price guide of $99,000 after buyers failed to bite at $165,000 (pictured below).
<img src="/images/2014/09/11/d1.jpg" alt="">
It was on the market for <a href="/news/vic/25-square-metre-larger-than-most-apartment-the-most-discounted-property-in-victoria-sqm">four years</a>, and finally sold in September for $92,000.
Feature photo of Glenferrie Road courtesy of <a href="https://commons.wikimedia.org/wiki/User:Diliff" title="User:Diliff">Diliff</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
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