<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

The RBA has noted that housing prices had increased significantly in recent months.&nbsp;

&quot;Growth in housing prices had been especially strong for detached housing, particularly in outer metropolitan and regional areas,&quot; according to the RBA.

&quot;This had partly reflected strong demand from first-home buyers and owner-occupiers seeking more space.&quot;

&quot;The momentum in housing price increases had broadened recently to include the largest capital cities and the more expensive segments of these markets, although the increase in overall housing prices in Australia during the pandemic had been more modest than in a number of other countries.&quot;

[smartcode_project:default project_id=95292 project_image_fid=156359]

The minutes did not only single out New Zealand.

The minutes did note cross-country differences in population growth stemming from international border closures.&nbsp;

&quot;In some countries, including Canada, which had experienced high and rising rates of immigration in the years prior to the pandemic, population growth had slowed substantially.&quot;

&quot;In New Zealand, some of the slowdown in population growth had been mitigated by the return of expatriate New Zealand citizens during the pandemic; in turn, it was likely that this had contributed to the increase in housing demand in New Zealand.&quot;

The minutes noted the decline in population growth in Australia had been particularly steep relative to other countries; in the 3 months to September, the Australian population had declined for the first time in several decades as a result of a reversal in net overseas migration.&nbsp;

&quot;However, in countries where net migration had contributed less to population growth in the years before the pandemic, including the United States, population trends had been little changed in recent quarters.&quot;

The minutes also noted that globally, asset prices had been increasing given the low levels of interest rates.&nbsp;

&quot;Housing prices, in particular, had increased strongly in a number of countries in the latter part of 2020 and early 2021.&quot;

&quot;Growth in housing credit had increased in a number of these countries, but it generally remained slower than growth in housing prices.&quot;

It noted that in Australia growth in both housing credit and housing prices had picked up, &quot;but to a lesser extent.&quot;

Annualised growth in housing credit had been around 4&frac12; per cent over the 6 months to February, driven by demand from owner-occupiers.&nbsp;

[smartcode_project:default project_id=3494 project_image_fid=90814]

The minutes noted demand for new housing finance had been strong, and the high level of loan commitments indicated that housing credit growth was likely to increase in the months ahead.&nbsp;

&quot;However, there was no notable evidence of a deterioration in housing lending standards.&nbsp;

&quot;The share of loans with higher loan-to-valuation ratios had increased, but this was in part explained by the larger share of first-home buyers.&quot;

&quot;The share of loans with high debt-to-income ratios had been relatively stable.&quot;

&quot;Members agreed that it would be important to watch carefully for increased risk-taking by lenders and any deterioration in lending standards and larger shares of higher-risk loans.&quot;

The members noted that low interest rates had been one of the factors contributing to the increase in demand for housing, alongside other policies such as government grants.&nbsp;

The latest minutes noted advertised rents had also picked up in a number of capital cities recently, although, as in other countries, housing prices had increased by more than rents.

&quot;Rents and overall conditions in the apartment market in Melbourne, and to a lesser extent in Sydney, remained subdued as the reduction in net overseas migration was still lowering demand,&quot; it noted.

The RBA says the increase in overall housing prices in Australia during the pandemic had been more modest than in a number of other countries

jchancellor

Australia's housing price rises more modest than overseas: RBA

The country&rsquo;s largest property developer says demand for new dwellings is more widespread than that spurred by government stimulus policies.

Stockland chief executive Mark Steinert told shareholders the company had come through the worst of the coronavirus crisis.&nbsp;

&ldquo;Importantly as the economic and business environment has improved towards pre-COVID levels, industry support measures such as the Commercial Code of Conduct and HomeBuilder concluded at the end of the quarter without emerging evidence of material adverse outcomes,&rdquo; Steinert advised.

&ldquo;We think there&lsquo;s a lot of owner occupied demand and first time buyer demand that ultimately ended up being deferred, and it&rsquo;s that demand that really got stimulated by HomeBuilder, and by the improved availability of credit,&rdquo; the Stockland boss told The Australian.

[smartcode_project:default project_id=29947 project_image_fid=93183]

Stockland expects to settle 6300 homes this year after low interest rates, government incentives and credit availability drove sales higher over the three months to March.

The country&rsquo;s largest listed developer advised settlements were already up on last year&rsquo;s 5878 tally.

Stockland&rsquo;s strong net March quarter sales result of 1891 lots was up 69 per cent on the same quarter last year.

Steinert noted &quot;the best affordability in all the key markets that we&rsquo;ve seen in a decade.&rdquo;

But he warned that Sydney and southeast Queensland were the most supply constrained markets, with the NSW capital having only about five years worth of serviced land.

Stockland says demand for new dwellings is more widespread than that triggered by government stimulus policies

Stockland sees new home buyer motivation beyond government stimulus 

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The HomeBuilder construction timeframe has been pushed out to 18 months to smooth out the construction pipeline and support jobs for longer.

Although there are no further grants on offer, the timeframe for houses as well as off-the-plan apartments and townhouses to commence construction has been extended from the current six month permissible timeline.

HomeBuilder is a COVID-19-assistance scheme that assists the residential construction sector by encouraging the commencement of new apartment construction and new home builds and substantial renovations.

The HomeBuilder was available for contracts signed between 4 June 2020 and 31 March 2021.

[smartcode_project:default project_id=32136]

For new builds and substantial renovations, the relevant contract is the building contract. For developer projects, including off-the-plan builds, the contract is the sales contract, where construction commences on or after 4 June 2020.

The Government announced on the weekend it would extend the construction commencement requirement.

"Thousands of people can now be sure that they will receive HomeBuilder grants with the Federal Government’s extension of the construction start date," Denita Wawn, CEO of Master Builders Australia said.

“The scale of the HomeBuilder success - more than 120,000 HomeBuilder applications have created huge pressure on the supply chain with Master Builders Australia’s survey of the industry showing that 70% of builders are being hit by delays and cost increases for key trades and building products.” 

“This also created the risk that thousands of HomeBuilder applicants could miss out on the grants because builders could not meet the construction start date requirements,” she said. 

“The Federal Government showed strong leadership to introduce HomeBuilder when Covid lockdowns meant thousands of builders and tradies faced a valley of death with no forward work,” Denita Wawn said.

For new builds, commencement of construction in some jurisdictions will be as early as commencement of excavation and site preparation works; in other jurisdictions commencement occurs at the point of laying the slab.

For an off-the-plan build, commencement of construction may be site preparation stage (including excavation of the site) or the laying of the foundations or laying of a slab for a carpark (whichever is earlier).

[smartcode_project:default project_id=29660]

If construction of an off-the-plan dwelling commences on or after 4 June 2020, the property purchase may be eligible for HomeBuilder even if the contract is signed after construction commences (provided the contract is signed on or before 31 March 2021).

If construction on the dwelling commenced before 4 June 2020, it does not qualify for HomeBuilder.

Grant recipients must be registered on the title as the owner of the property by no later than 30 April 2023.

A $25,000 grant was available for eligible contracts signed on or after 4 June 2020 up to and including 31 December 2020. And a $15,000 grant was available for eligible contracts signed on or after 
1 January 2021 until 31 March 2021 (inclusive).

[smartcode_project:default project_id=29048]

The timing of payment for the HomeBuilder Grant depends on whether your application relates to a new build, substantial renovation or off-the plan / new home purchase: 
• New builds: grants will be paid after the foundations have been laid and the first progress payment has been made to your builder. 
• Substantial renovations: grants will be paid after construction has commenced and at least $150,000 of the contract price has been paid in respect of the renovation. 
• Off-the-plan / new home purchases: grants will be paid after the applicant(s) name is registered on the title.

For the $25,000 grant the requirement was to build a new home as a principal place of residence, where the property value (i.e. house and land) does not exceed $750,000 or purchase an off-the-plan / new home as a principal place of residence where the contract price does not exceed $750,000 and construction had not commenced prior to 4 June 2020.

For the $15,000 grant grant recipients can build a new home as a principal place of residence, where the property value (i.e. house and land) does not exceed $950,000 if the dwelling is in New South Wales; $850,000 if the dwelling is in Victoria; or $750,000 in all other States.

The $15,000 grant was available for the purchase an off-the-plan / new home as a principal place of residence where construction had not commenced prior to 4 June 2020 and the contract price does not exceed: $950,000 if the dwelling is in New South Wales; $850,000 if the dwelling is in Victoria; or $750,000 in all other States.

HomeBuilder is not available for investment properties or to owner-builders.

The applicant will be required to reside in the property for a minimum of six months from when the certificate of occupancy or final inspection certificate is issued (for new builds) or from when registered on title (for off-the-plan / new home purchases). 

There may be some timing differences between the jurisdictions.
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Although there are no further $15,000 grants on offer, the timeframe for houses, townhouses and apartments to commence construction has been extended


HomeBuilder construction timeframe pushed out to 18 months

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CoreLogic research director Tim Lawless said 70 per cent of the best-performing apartment markets are located in lifestyle markets.

CoreLogic found 14 suburbs had seen 20 per cent growth in the past year.

Lennox Head on NSW's north coast topped the list with a 27.6 per cent increase in values.

The next biggest growth in values was in Victoria's Ocean Grove and Torquay, with 26.3 per cent and 25.8 per cent gains respectively.

Gold Coast suburbs Palm Beach, Bilinga, Currumbin and Tugun saw an average growth of 22.8 per cent. 

[smartcode_project:default project_id=22057]

There was also strong demand in Brisbane's bayside suburbs Cleveland and Wynnum where apartment values up by 25.1 per cent and 18.6 per cent respectively.

Apartment values in Sydney's northern beaches suburb Avalon rose by 12.9 per cent.

Lawless noted the best-performing apartment markets were located in "lifestyle" markets, including tree change locations such as Bowral and Jindabyne.

[smartcode_project:default project_id=5559]

"The common theme for the strength in the unit market is the lifestyle factor, with additional demand from buyers looking for a sea change or tree change, as well as a lift in buyers seeking out holiday homes," he told The Australian Financial Review.

"Units obviously are still underperforming compared to houses but we are seeing some growth returning to the sector.

"I think because we've seen such strong price increases in detached housing, affordability constraints have become more challenging, so it's natural to look towards higher density options."

 
 
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CoreLogic research director Tim Lawless said 70 per cent of the best-performing apartment markets are located in lifestyle markets

Lifestyle apartment markets lead recovery: Tim Lawless

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<h2>OPINION</h2>

Having failed to call the turning point in the housing market, within a matter of just a few short months the expert commentators are out in force to demand cooling measures.

It's almost as if the commentary is continually running 3-6 months behind the reality, since the peak of the buying frenzy may already have passed.

Once there was a time when you'd let supply and demand determine prices, but now there are endless calls for tinkering to constantly fine-tune housing prices and activity in the country's most expensive city. 

Over the past couple of weeks final auction clearance rates have already moved a notch lower, and housing finance figures were down a bit last month too. 

And this weekend, despite a strong preliminary result in Sydney, drizzly Melbourne's preliminary clearance rate was well under 75 per cent, as more sellers bring stock to the market. 

<img alt="" height="404" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/frezny_1.jpg" width="640">

Source: Domain

Something I've noticed over the years is that you'll often get a much better feel for what's going on from listening to mortgage brokers, buyer's agents, or auctioneers (and selling agents when...at least when they aren't in sales mode!), much more so than from analysts and investment bankers poring over historic data from a few months earlier. 

Straight from the auction coalface...

<img alt="" height="513" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/frezny_2.jpg" width="640">

Detached house building approvals have soared to all-time highs this year, so we can expect to see a corresponding uplift in new dwelling supply in H2 2021.

And with the vaccine rollout floundering, there's almost no immigration to soak it up, so this will act as a natural coolant. 

<img alt="" height="371" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/frezny_3.jpg" width="640">

Therefore it won't be a surprise to see the frenzy pass as more vendors look to cash out later in the year, which will almost certainly calm things down. 

PETE WARGENT is the co-founder of AllenWargent property buyers and a best-selling author and blogger 
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Over the past couple of weeks final auction clearance rates have already moved a notch lower, and housing finance figures were down a bit last month too. 

pwargent

Housing buying frenzy may have passed: Pete Wargent

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Soaring home prices have put first home buyers on the back foot, with affordability now a key issue in the Australian property market.

The continued house price growth has poured cold water on first home buyers, who until the end of March had the $15,000 HomeBuilder Grant as a financial platform when buying new property.

The median sale price for a house has reached over $1.1 million in Sydney in April, followed by $806,000 in Melbourne, according to CoreLogic. Apartments approve the more attractive proposition for first home buyers, with Sydney's median at $755,360 and Melbourne's at $593,121.

The growing property prices has led to first home buyers considering buying interstate, Finder’s First Home Buyers Report 2021 has found.

Finder surveyed 1,028 first home buyers, and 20 per cent said they are searching for their first property in a different state to where they currently live. That equates to around 2,362 first home buyers a month willing to buy in another state to get on the property ladder.

<a href="/news/vic/urban-s-top-suburbs-for-vic-first-home-buyers-in-q1-2021">Read more: Urban’s top suburbs for VIC first home buyers in Q1 2021</a> 
The report found that first home buyers from New South Wales (24%) are more likely to consider buying a property in another state than those living in Queensland (19%) and Victoria (17%).  
Sarah Megginson, home loans expert at Finder, said that many prospective buyers are being lured by cheaper property across state borders.  
“Some first home buyers are looking at real estate in other parts of the country where prices are more affordable, with many feeling the pressure to buy while interest rates are low. 

<a href="/news/vic/urbans-most-popular-vic-projects-for-first-home-buyers-in-q1-2021">Read more: Urban's most popular VIC projects for first home buyers in Q1 2021</a> 
“The impact of COVID-19 has also caused a spike in demand for regional properties, as residents in Sydney and Melbourne consider swapping city living for more of a laidback lifestyle.  
“With property prices soaring in recent months, it can put additional pressure on first home buyers, who may find themselves priced out of their own city. 

[smartcode_project:default project_id=5559]

“This is where an interstate move can work to your advantage as a prospective buyer.  
“Even if you’re not keen to move, a rentvesting strategy – where you buy a more affordable home in a different location and continue renting where you want to live – offers a way to get your foot on the property ladder,” Megginson said.  

<a href="/news/qld/find-out-where-in-south-east-queensland-you-can-buy-a-townhome-from-230-000">Read more: our homes to secure in Queensland’s City of Logan from $230,000</a> 
Finder’s First Home Buyers Report 2021 also found that men (24%) are more likely than women (17%) to be considering an interstate move to get into the property market.
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The growing property prices has led to first home buyers considering buying interstate, Finder’s First Home Buyers Report 2021 has found

One in five first home buyers open to buying in a different state

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There's no slowing down property prices all across the nation, with data house CoreLogic reporting prices nationally jumped 2.8 per cent over March, the highest increase since October 1988.

It was also the first time in 12 months that capital city values outpaced the regional markets, music to the ears of the departed investor market who will be monitoring price levels.

CoreLogic's head of research Tim Lawless says they expect housing values to continue to rise throughout 2021 and well in to next year, but it is reasonable to expect the pace of growth will slow.

Sydney led the way over March, with dwelling values jumping 3.7 per cent to be 6.7 per cent up over the quarter. The last time Sydney posted such strong quarterly gains was in June/July 2015, before a rapid slow in growth when limits on investors kicked in to slow the market, which isn't a stumbling block in the current property climate.

[smartcode_project:default project_id=7317]

The Harbour City was only bettered by Hobart's strong 7.6 per cent quarterly gains after dwelling growth of 3.3 per cent over March.

Canberra saw the third best dwelling value growth across the capitals, up 2.8 per cent, followed by Melbourne and Brisbane who both saw 2.4 per cent gains. Darwin posted 2.3 per cent growth.

Adelaide (+1.5 per cent) and Perth (+1.8 per cent), trailed the pack.

 

<img alt="" height="705" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/april_dwelling_cl.jpg" width="1200">

"As the housing market hits record high values, speculation is mounting as to what will trigger the next downswing phase of the cycle", Lawless says.

"The upswing in buyer demand has not been met with the same level of increase in inventory," Lawless says.

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"This has resulted in strong selling conditions, amidst a palpable sense of urgency amongst buyers, putting upwards pressure on housing prices."

Lawless suggested the substantially less fiscal support will likely contribute to a tapering of demand, as will the prospect of tighter credit policies, however APRA says lending standards remain healthy enough to keep any credit intervention at bay for now.

Houses v Units

Houses continued to outstrip units for price growth in most capitals, however units are now steadily back on the upswing.

“Despite the underperformance, unit markets have turned a corner, with Sydney recording two consecutive months of rising values, while the Melbourne unit market has seen values consistently rising since October last year, with the trend accelerating over recent months," Lawless says.

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Sydney houses jumped 4.3 per cent over March to be 8.2 per cent higher over the first quarter of the year. Units still saw strong growth, up 2.1 per cent over March to be 3.2 per cent up over the quarter.

Melbourne units were close behind, posting 1.7 per cent gains over March and three per cent over the quarter. Houses were up 2.6 per cent in March and 5.6 per cent over the quarter.

The only areas where units outperformed houses was in Hobart and Darwin. Hobart units were up 4.9 per cent, the best performance of any market across March, while houses rose three per cent.
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Sydney led the way over March, with dwelling values jumping 3.7 per cent to be 6.7 per cent up over the quarter

When will the property boom slow down? Property prices see highest monthly gains in 32 years

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Units had a strong auction weekend with a 75% national success rate after the auction of 684 units.

The prior week's clearance rate sat at 77% after the auction of 578 units.

Sydney was the best of the major capital city markets for apartment auctions, according to CoreLogic.

Sydney vendors secured an 82% success rate from 319 listings. Houses in Sydney performed even better with 90% of the 729 houses finding buyers.

Melbourne was the busiest capital for unit offerings with CoreLogic putting the auction tally at 330. 

There was a 73% success rate, as against the 989 houses which recorded an 80% clearance rate.

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Some 75% of Perth's 21 apartment listings were sold.

Brisbane saw 38% of its 18 listings find buyers.

Sydney saw a Bondi Beach penthouse sell for $20.1 million at weekend auction, becoming the most expensive apartment ever sold at auction in Australia.

Melbourne's top apartment sale was $2.36 million for the four bedroom townhouse (above) at 2/17 Olinda Street, Caulfield South through Gary Peer &amp; Associates.

Melbourne had the nation's cheapest apartment sale which was secured before its scheduled auction when $255,000 was paid for a two-bedroom Harkness offering.

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The 2010-built ground floor unit in the Parkside Apartments complex at 1/9 Petrea Place was offered through Russell Parker at First National Melton.

It came with a $250,000 to $260,000 price guide having last sold at $215,000 in 2011. 

The 80sq m ground floor space first sold off the plan in 2009 at $215,000.

Its last advertised rental asking price, according to CoreLogic, was $240 in late 2019.
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Units had another strong auction weekend with a 75% national success rate after the auction of 684 units, up from the prior week's 578 units

75% of weekend apartment offerings find buyers

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The property boom is officially everywhere.

Data released by the Australian Bureau of Statistics found that every capital city record a rise in residential property prices in the December quarter.

The three per cent gains were the biggest recorded since the December quarter 2019.

The pent up demand from Melbourne's prolonged locked down drove the Victorian capital to be the joint best performer over the three months, with prices up 3.4 per cent, the same as Canberra.

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Hobart followed, with prices up 3.1 per cent, then Sydney, up three per cent.

Perth's 2.9 per cent gains came in slightly below average, as did Brisbane's 2.7 per cent and Adelaide's 2.6 per cent gains. Weighing the average down was Darwin, however the Northern Territory capital still posted gains of 2.2 per cent.

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ABS head of prices statistics Michelle Marquardt said the rise in property prices is consistent with a range of housing market indicators.

"New lending commitments to households, auction clearance rates and days on market all improved during the December quarter."

Annually, residential property prices rose 3.6 per cent, the ABS data found.

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"This is the first time that all capital cities have seen an annual rise since the December quarter 2014," Marquardt said.

Hobart prices jumped 6.4 per cent, followed by a 5.2 per cent gain in Canberra and 4.2 per cent in Perth.

House prices rose 3.9 per cent in Sydney and 3.7 per cent in Melbourne, while attached dwelling prices rose 1.4 per cent in Sydney and 2.5 per cent in Melbourne.
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The three per cent gains were the biggest recorded since the December quarter 2019

Property boom officially everywhere as all state and territory capitals see December quarter growth: ABS

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Expert Observer

The big dilemma facing many Australians is whether to confront the frenetic markets in many parts of the nation – or wait for things to settle down before seeking to buy.

I can understand people wanting to avoid the circumstances they currently face in so many locations: properties are selling very quickly, sometimes even before being formally marketed, and often for prices well above the asking price or price guide.

If you want to buy safely and sensibly with due diligence, it’s difficult to compete with cash buyers purchasing properties sight-unseen via a phone call. Surely it would be more sensible to wait until the frenzy dies down and conditions become more normal.

Actually, no. I think it’s a mistake to wait.

I don’t think the boom is a short-term fad, as some in media have suggested. This market scenario has been building for the past six months or so, it’s underpinned by multiple strong factors and it will extend throughout 2021 and into next year.

It’s a genuine nationwide real estate boom, the kind that we see only rarely in Australia. The last one was 2001-2002-2003 and before that it was in the late 1980s.

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These events happen for identifiable reasons and this one has many factors. My list of influences, which I published in this space a month ago, has 16 dot points. It’s not about low interest rates and it won’t be stalled by the end of JobKeeper. The Reserve Bank might change its mind and lift the official interest rate, but the boom will roll on.

So if you wait until it dies down before buying, you may be waiting a long time and you’ll be paying a lot more for your next home or investment property. If you delay until saner times, you could conceivably be paying 20% more. That means a property worth $500,000 now will be priced around $600,000. A $1 million property will cost $1.2 million.

We already have many suburbs and towns across Australia where the median house price is now 15% or 20% higher than it was a year ago.

Sunshine Beach on the Sunshine Coast has risen from $1.23 million to over $2 million in the space of 12 months.

A $600,000 purchase a year ago on the Sunshine Coast is now worth between $700,000 and $750,000, based on the growth in median house prices for locations such as Birtinya, Mt Coolum and Coolum Beach.

An investment of $550,000 to $650,000 12 months ago in the Central Coast market north of Sydney would now be worth $90,000 to $100,000 more, based on the growth in median prices in locations such as Long Jetty, Berkeley Vale and Umina Beach.

But many markets are only just getting started. Rapid price escalation is likely to continue well into next year. The most conservative of the forecasters, the bank economists, are predicting big growth this year and next year.

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So if you’re ready to get into the market now, don’t wait. You need to find a way to cut through the current frenzy and get the property you want.

If you’re an investor, there are locations in Australia with the credentials for long-term price growth but not yet “bonkers”.

The best way to proceed is to get your finances sorted, engage a reliable buyers’ agent, give them clear parameters and let them go find you a good investment property in a location with long-term growth drivers.

Terry Ryder is the founder of hotspotting.com.au

ryder@hotspotting.com.au

twitter.com/hotspotting
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I don’t think the boom is a short-term fad, as some in media have suggested

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