<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

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

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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

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Back in February 2012, I published a post on the subject “smaller apartments to be the norm, not the exception”. 
Now almost two and a half years later we are starting to see projects that were then on the drawing board either finished or mostly sold off the plan.
As was already apparent back in 2012, today the reality is that generally apartments have in fact gotten smaller. However, via skillful design and by responding to buyer feedback, smaller now also generally means better. While size is still important, it’s not the most important factor.
Over the same time frame Sydney has also retained it’s place (which depending upon your circumstances and point of view is either a good or bad thing) among the world’s most expensive cities to buy a home. In 2012 there was the certainty that new apartment designs were set to be smaller but also hopefully more efficient with changes being driven mainly by price ceiling constraints and lifestyle demands.
What we have seen over the intervening years has been a remarkable shift in design standards and buyers have also shown little or no resistance to smaller apartments. From a marketing perspective this shift has been driven by a number of factors, mainly quality, good planning and lifestyle shifts. But there has also been the expectation that smaller did not mean inferior.
Smaller Apartments, Big on Design
Apartment buyers are a pretty smart bunch, developers know this and as marketers we also respect how much more engaged buyers have become. When buyers approach off the plan projects they do so with confidence but that is also matched by a much more discriminating buyer.
There have been a number of key facts driving this trend. Higher prices are key; this applies to all buyers as investors are no less demanding of quality. There has also been greater competition for the best locations.
I get constant feedback that in a nut-shell goes like this: Buyers are looking for well-designed, carefully planned projects, that are well located, close to local shops (and that is within walking distance), with access to good public transport. Most buyers are willing to move down in apartment size, but they expect location and services to be top rate. They also have a clear checklist of what they expect internally.
I also think that this has a lot to do with market education that comes via reality TV. There are now so many home renovation shows and I think this has been a factor in educating buyers. They are more aware of good design.
Like the food revolution that has in part grown out of the saturation of cooking TV shows, I think the same can be linked to a cultural shift that has buyers thinking about the design and function of apartments. This also extends more than ever to the reputation of the developer and builder.
First Impressions
One of the most telling ways to judge how people are reacting to smaller and smarter projects is to see how they first respond, what questions are generally top of mind and what first impression is created at a sales and display centre.
They are very keen to see how the space is used; they look beyond the finishes to how the space will function and what the developer has done to make the space work.
I have also noticed buyers are keen to see how the project sits within the neighbourhood and what sort of brand message does the exterior design of the building broadcast. They are quick to spot gimmicks, but there is an appetite for themed buildings that reflect the local environment.
It’s fairly clear that a good project team has to work hard to get the mix just right, this is now essential as apartments are not seen as a stepping stone any more, they are home to more and more of us. Between 2009 and 2012 the supply of new apartments increased by 56% and over the same period the numbers of new detached dwellings fell by 13%.
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Some Trends
Looking at one of our most recent developments, Woolooware Bay, near Cronulla, in Sydney’s Sutherland Shire, there’s a variety of one, two and three bedroom apartments which range in size across an assortment of designs which include: (internal) 59 square metres for a one bed, 78 square metres for a two bed and 114 square metres for a three bed. These apartments being developed by Bluestone help highlight how good design is being delivered.
Some of the features include; a multi-purpose or shared zone, which might have been a media-nook or study, but has now evolved to a shared space for work, study or pleasure. Apartment kitchens have also evolved, perhaps more than any other area, kitchens are now almost a ‘piece of furniture’ with varied surfaces, textured finishes, display cupboards, recessed lighting, and so just having stainless steel appliances no longer makes the grade.
Other design features include the use of windows and balcony access to create good air circulation, and balconies even, when they are small, are now more private, attractive ‘rooms’. Most of the larger three bed apartments at Woolooware Bay provide balcony access from all main rooms and all bedrooms. The use of high-set windows and privacy screens are now more common features, and there’s a deliberate aim to create separation and privacy for bedrooms.
Another area of design, and this might well help make smaller apartments even more functional, is the use of technology to create ‘smart apartments’ where the push of a button might one day do much more than switch on the lights and TV.
We aren’t fully there yet, but at almost every consumer electronic show manufacturers now display even more smart-home devices. The spread of smart-phones and tablets could soon see apartments online and residents able to switch their lights on or off, tweak the air conditioning, order in dinner, and make sure those houseplants and pets are looked after.
Buyers are skeptical when it comes to ‘gimmicks’, but this does not mean that as apartments are smaller there is not a need for well-planned building facilities. Alongside better interior design these facilities have also evolved and in addition to lap pools and well-equipped BBQ areas. We now have contemplation gardens, wine cellars, common rooms, a library and indoor and outdoor cinemas. However, when these facilities are included, buyers are still keen to see strata levies at manageable levels alongside the focus on quality management.
The end result of all of these trends is the ready comprehension among developers and buyers that smaller apartments are workable and popular, but this needs to be balanced with really assiduous design, great quality and the continued quest for well thought-out locations and buildings with sought-after facilities.
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When it comes to apartments, smaller really can be better

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High density urban redevelopment is needed to improve housing affordability and ensure community access to amenities is fairly distributed around Sydney as the city grows, according to the chair of the Committee for Sydney and director of Turnbull and Partners, Lucy Turnbull.
But local resistance to high density development is creating barriers to urban improvement, Turnbull said at the 2014 HIA Building Better Cities Summit in Sydney last week.
“There is a fundamental break down between professional and industry understanding, and community understanding, of the benefits of smart growth,” said Turnbull, who among other board and executive positions is Chair of the Committee for Sydney and former Lord Mayor of the City of Sydney.
“Communities often have the default position that doing nothing is the best thing,” she said.
Resistance to development was often based on a fear of a loss of access to services such as healthcare, car parking, childcare, local schools and public transport.
This was exacerbated by the small size of Sydney’s local government areas which led to attitudes at a local level that managing wider national and metropolitan population and economic growth was someone else’s problem, Turnbull said.
With a population of around 4.5 million, Sydney has 38 local government areas. In contrast, Brisbane has one local government area covering a population of one million. Overseas, London has a population of 8.2 million and one city council that sits above 33 local government areas. New York City, with 8.3 million people, has one city council and five boroughs.
Turnbull said higher density developments in Sydney could deliver benefits to the community by improving the vitality of town centres and access to public transport.
She said the Central Park development near Sydney’s central station and Stockland Balgowlah on Sydney’s northern beaches should be held up as good examples of urban development done well.
She identified Parramatta, Liverpool and Penrith as areas in which higher density centres should be developed.
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Resistance to high density development creating barriers to urban improvement: Lucy Turnbull

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For those who think houses will always outperform units, this week’s top 10 most expensive sales might offer some food for thought.
It was a three bedroom unit that took out the top sale in the country this week, clearing the second most expensive home, a four bedroom house, by almost $4 million.
These are the 10 biggest sales of the week, from RP Data.
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2/3_loftus_road_darling_point_nsw_2027/16165997">2/3 Loftus Road, Darling Point, NSW</a>
<img src="/images/2014/07/29/1.jpg" alt=""> This three bedroom unit sold for $6.4 million through 1st City Hasemer and Caldwell.Eyes and LJ Hooker Double Bay. The full floor, 326 square metre, residence in The Bower was designed by JPRA and Collins Vanguard.
The luxury apartment has an en suite for each bedroom, a family room that extends to a wrap around terrace and 21 metre frontage to the harbour. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_roslyn_street_brighton_vic_3186/10020852">4 Roslyn Street, Brighton, VIC</a>
<img src="/images/2014/07/29/brighton-july-29-one.jpg" alt=""> This four bedroom house in the Melbourne bayside suburb of Brighton sold for $2.475 at auction through Nick Johnstone Real Estate Brighton. The contemporary two storey home has three bathrooms and a powder room and three living spaces. Outside, there is a solar heated pool and spa. The vendors purchased the house for $1.58 million just last year.
</li>
<li>
 <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/23_beaufort_street_croydon_park_nsw_2133/2031134" style="line-height: 1.3em;">23 Beaufort Street, Croydon Park, NSW, 2133</a>
<img src="/images/2014/07/29/3.jpg" alt=""> 
In Croydon, a five bedroom house was sold for $2.19 million by Elders Inner West Enfield. The full brick home has a formal living and dining area with a curved glass wall, a casual meals and family room and a lift servicing all three levels of the house. It sits on a 614 square metre corner plot.
The vendors purchased the home for $1,275,000 less than a year ago. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_sevenoaks_street_balwyn_vic_3103/9568809">28 Sevenoaks Street, Balwyn, VIC</a>
 <img src="/images/2014/07/29/4.jpg" alt="">
Another five-bedroom house, Balwyn offering secured $2.16 million for the vendor through Bekdon Richardson and Hawthorn. In a prime school district, the house sits on a 797 square metre block. The house has multiple living spaces, including a formal living and dining room and open plan family areas, with a sandstone wrap around terrace and a glass enclosed pool and spa with its own private bathroom. The house was purchased by the vendors in April 2006 for $1.73 million.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_tutus_street_balgowlah_heights_nsw_2093/1231539">18 Tutus Street, Balgowlah Heights, NSW</a>
<img src="/images/2014/07/29/5.jpg" alt="">
Sold on July 23 by Richardson &amp; Wrench Seaforth, this three bedroom house secured for $2.1 million. Adjoining a bush reserve, the house is set on a 701 square metre “gently undulating” plot with a North Easterly aspect. The house is a few minutes’ walk from Forty Baskets Beach. The house has been held by the same vendors for 23 years – they purchased it for just $262,500 in 1991.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/38a_crescent_road_mona_vale_nsw_2103/4381359">38A Crescent Road, Mona Vale, NSW, 2103</a>
<img src="/images/2014/07/29/6.jpg" alt="">
This five-bedroom house was sold at auction on July 24 by L J Hooker Avalon for $2,095,000. Overlooking Pittwater, the house has interconnected living spaces around a central outdoor terrace and a pool. Despite making the top 10 list, the vendors made a loss on the sale – they bought 38A Crescent Road for $2.2 million in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_francis_street_naremburn_nsw_2065/4728487">1 Francis Street, Naremburn, NSW, 2065</a>
 <img src="/images/2014/07/29/7.jpg" alt="">
McGrath Real Estate Agents sold this four bedroom, three bathroom house for $2,053,000. A few minutes away from St Leonards Railway Station, the single level home sits on a 727 square metre block. It has floorboards through the living areas which transition to a north-east facing deck. The vendors purchased the house five years ago, for $1.73 million.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/116_fifth_avenue_windsor_qld_4030/8251326">116 Fifth Avenue, Windsor, QLD</a>
 <img src="/images/2014/07/29/8.jpg" alt="">
The only Queensland home to make the top 10 list this week, this house secured $2,005,000 when auctioned by Ray White Alderly. The four bedroom Queenslander has high cathedral ceilings and polished floorboards throughout. The property also features a salt water pool and three 3,000 litre water tanks on its 1,045 square metre plot. It was bought by the sellers for $1.14 million in November 2005.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/3_drummoyne_avenue_drummoyne_nsw_2047/2124490">1/3 Drummoyne Avenue, Drummoyne, NSW</a>
<img src="/images/2014/07/29/9.jpg" alt="">
The second unit on this week’s list, this three bedroom Drummoyne offering sold for $2 million through Patterson Rizzo Biviano. The renovated townhouse has panoramic water views from its large entertaining terrace. The complex comes waterfront gardens, a pool and pontoon. The vendors purchased the townhouse for $1,515,000 in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/17_castle_street_randwick_nsw_2031/5744260">17 Castle Street, Randwick, NSW</a>
 <img src="/images/2014/07/29/10.jpg" alt="">
This two storey four bedroom house sold through Phillips Pantzer Donnelley for $2 million. Close to Centennial and Queens Park, the modern home has a northerly aspect, a swimming pool and secure parking. All the bedrooms are on a single level, freeing up the other floor for living spaces. The home also has a saltwater plunge pool.
The sellers made a loss on this house. It was bought for $2.15 million in 2009.
</li>
</ol>
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Darling Point unit takes top place in the 10 most expensive sales of the week: RP Data 

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There are few topics that cause as much debate among property pundits and housing economists as Australia’s potential property bubble.
It’s a divisive topic. Those who say that we are experiencing a housing bubble are often labelled scaremongers, while those who consistently deny the presence of a bubble are accused of spruiking.
Philip Soos is an economist and post graduate candidate at Deakin University. He has recently co-authored <a href="https://www.worldeconomicsassociation.org/files/Bubble_Economics_Egan_Soos.pdf" target="_blank">Bubble Economics: Australian Land Speculation 1830-2013 </a>with Paul D Egan.
Property Observer asked Soos to explain past bubbles in Australia’s economy and how Australian investors can cope with a potential bubble.
<img src="/images/2014/07/29/soos-profile.jpg" alt="" style="float: right;">
What is your new book about?
The book provides a conclusive answer to the debate that has been raging in Australia for the last decade – is there a bubble in the housing market? Paul D. Egan and I used a fairly conventional approach to investigate this possibility.
We examined the work of the small number of economists who identified the US housing bubble and predicted the GFC, analysed past real estate bubbles in Australia’s history going back to the 1830s, and used a paper published by the RBA in 1999 (<a href="https://www.rba.gov.au/publications/rdp/1999/pdf/rdp1999-06.pdf" target="_blank">Two Depressions, One Banking Collapse</a>) as a template for the book.
What we found is that Australia’s history is littered with real estate bubbles (really, land market bubbles) that later collapsed, pummelling the banking and financial system and repeatedly sending the economy into recession or depression. The stock market has often bubbled over as well, but the effects weren’t nearly as bad.
What is the difference between a bubble and a normal business cycle peak?
Every capitalist economy experiences fluctuations or business cycles, especially given its dynamic and chaotic nature. Business cycles are driven by a number of factors, particularly rapid industrialisation and urbanisation, mining and manufacturing booms, and the rise and fall of speculative asset bubbles. The former are typically based on fundamental movements in the domestic and world economy, but the latter is caused by irrational exuberance.
Due to the reasons mentioned below, mainstream economists pay little attention to the cycles in stock and land markets. If they did, they would notice that many business cycles throughout history have been strongly influenced by real estate booms, financed by private debts the banking and financial system extends to speculators. Controlling the regular pattern of asset bubbles would considerably tame the business cycle.
What are some big bubbles Australia's property market has seen?
The first land market bubble occurred during the 1830s. Speculators purchased enormous amounts of government-owned land, holding them in the hopes that prices would always rise. But fall they did, resulting in Australia’s first depression in the early 1840s, which the economy promptly recovered from.
The second bubble was insane, developing during the 1880s. Bank and non-bank lenders provided credit to everyone who wanted it, underpinning a period of mass speculative fervour, primarily in commercial CBD real estate. There were reports of Melbournian city blocks doubling in price within the space of several months in 1887. The bubble collapsed in the early 1890s, resulting in the worst depression on record, relatively worse than the ‘Great Depression’ of the 1930s.
The next bubble formed during the 1920s, though this was muted compared to the two previous bubbles. Banks were more cautious and adopted <a href="https://www.philipsoos.com/private-debt/">prudent lending standards</a> which ended up saving them during the depression. The movement in real estate prices were smaller relative to the previous land market cycle. The banks favoured lending to the business sector rather than households during these three bubbles.
The mid-1970s saw a commercial bubble, feeding into a smaller residential bubble which peaked in 1974. Both were financed by a sharp rise in lending by the banking and financial sector and eventually burst, bringing about a recession. The high rate of inflation and wage growth did, however, help to mitigate the large private sector debt burden.
During the late 1980s, another commercial bubble developed, centred in Melbourne, Sydney and Perth. After peaking in 1989, commercial real estate prices collapsed by 60% through to 1993, a thorough blood-letting. This produced the early 1990s recession and, to date, Australia has escaped a further recession.
The latest, and easily the largest, land market bubble in post-WW2 history began in 2001. This time around, the commercial property market is playing a backseat role, with the housing market severely overpriced by a range of <a href="https://www.philipsoos.com/housing-valuation">fundamental indictors</a>, indicating severe trouble will occur when it collapses. The illiquid, over-leveraged, under-capitalised, highly concentrated, foreign-funds addicted, and heavily over-compensated banking and financial sector is eerily reminiscent to that of the 1880s.
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Are any markets in Australia currently in a housing bubble?
All capital city housing markets have experienced a <a href="https://www.philipsoos.com/housing-prices/">surge in prices</a> since the mid-1990s, with Melbourne posting the largest gain between the low in 1996 and apparent peak in 2010. Perth has also boomed, with prices doubling in a couple of years after 2004, peaking in the March quarter of 2007.
According to our <a href="https://theconversation.com/property-bubble-thats-the-theory-anyway-16814">preferred measure</a>s of a housing bubble - rising real (inflation-adjusted) prices, accelerating mortgage debt and aggregate net rental income losses - all capital city markets are in the bubble zone, though some are larger than others. Darwin has the <a href="https://www.philipsoos.com/rents-and-yields/">highest yields</a>, so it appears to have the smallest bubble.
What is the relationship between purchasing for capital gains and housing bubbles?
The crazy race for capital gains (paper gains or phantom wealth) is the cause of the bubble. Property investors accumulate huge debts to speculate on the future movements of housing prices, expecting continual rises. Fundamental metrics like household incomes, rents and yields are dismissed, as rapidly rising prices become the new norm.
To protect themselves from a crash, should investors be seeking rental returns rather than purely capital growth?
Yes! The fundamental value of a property is based on the income it produces, not what prices could be next year or the year after. Gross yields were around 7% during the mid-1990s, falling to 4% today. Those who have focused on positive cash flows rather than capital gain will come out ahead.
Housing prices can only rise so far given the staggering burden of household debts, currently around <a href="https://www.bis.org/statistics/credtopriv.htm">110% of GDP</a> as of 2013. This is a historical high and aligns with other nations having experienced a bubble: Ireland, Denmark and the Netherlands. Unfortunately, 67% of investors are negatively-geared as of 2012, up from 51% in 1994, indicating they are focused on capital gains, not rental income.
Why do you believe economists "get it wrong" when it comes to bubbles?
There are two primary reasons why the economics profession as a whole always fail to identify real estate bubbles and predict the subsequent economic downturns.
The first is the theory taught and practised is a <a href="https://www.amazon.com/Debunking-Economics-Revised-Expanded-Dethroned/dp/1848139926/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1405987428&amp;sr=1-1&amp;keywords=debunking+economics&amp;dpPl=1">pseudo-science</a> (neoclassical economics). It imagines a world where people can see into the infinite future, know all information and always make rational decisions. Furthermore, banks, debt and time do not play any role in these models. Economists assume housing and land markets operate efficiently by definition; therefore bubbles can’t exist by this logic. It’s a religious-like belief, but with <a href="https://theconversation.com/time-to-stop-rewarding-economists-for-bad-behaviour-5836">very dangerous consequences</a>, especially for middle and low-income earners.
The second reason is due to vested and conflicts of interest. It is almost impossible to gain the honest opinion of an economist, researcher or analyst into matters of real estate and banking. Economists, particularly those in senior and executive roles within government and industry, are unwilling to jeopardise their incomes and privileged status by pointing out the obvious. If they did, they would be kicked to the curb by their employers by the end of the day.
It’s also the reason why our book has been suppressed by the mainstream media, echoing the experience of other published authors who have come to the same conclusion, such as Australian businessman Lindsay David (<a href="https://www.australiaboomtobust.com/" target="_blank">Australia: Boom to Bust</a>). Our two books have a combined 1,000 plus pages of the most in-depth research on real estate, banking and mining available, but no mainstream journalist or reporter will review or cover them. This is to be expected, however, given the irrationality of the times we live in.
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How can investors cope with a property bubble? Q&A with Philip Soos

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Sydney’s mid-winter auction market retained its recently renewed energy at the weekend recording yet another preliminary strong result around 77%, according to Australian Property Monitors.
The 77.1% clearance rate recorded was the third consecutive 77% plus result following a five week period of waning rates.  
"A moderation of unrealistic price expectations from vendors may be a contributing factor to rising clearance rates over recent weekends," the APM senior economist Dr Andrew Wilson suggested.
Some 506 homes were scheduled for auction at the weekend in Sydney which was well up on the prior weekend’s 404.
It was some 174 more or 52% higher than the 335 homes auctioned over the same weekend last year.
"Auction numbers will continue to gradually rise over coming weekends from its July lows as the market turns from its mid-winter trough and heads towards the spring selling season," he said.
The inner west recorded the highest clearance rate at the weekend of all the suburban regions with an exceptional 90.7% result.
"Next best was the lower north with 88.9% closely followed by the city and east with 88.7%, the upper north with 87.2% and the south with 83.1%.
"The strong upper north shore result follows last weekend’s relatively low result and reflects continuing strong underlying demand for property in that region."
The most expensive property reported sold at auction at the weekend was the five bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-croydon+park-117338283" target="_blank">23 Beaufort Street, Croydon Park</a> (pictured above) sold for $2,190,000 by Elders Inner West-Enfield agent Sebastian Bonaccorso. It came with lift servicing three levels including its basement garaging for eight cars.
Auctioneer at Property Auction Services Rocky Bartolotto told Property Observer that buyer numbers for the weekend across his Sydney auctions dropped by one buyer week to week, however the percentage of registered bidders who actually make a bid at the auction was still considerably up.
 "This traditionally is around 50% however at the moment is at approximately 70%," he said.
He noted that his auctioneers had detected a "handful of owners" had reserve prices set well above the agent opinion and what the buyer feedback has been throughout the marketing campaign. 
"These properties seemed to have lower registered bidders to bid on auction day. 
"In some cases this was evident with reserve prices set $100,000 over agent/buyer indication levels.
"It’s important for vendors that the feedback coming from agent/buyer is strongly considered for best outcomes."
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jchancellor-FAypfDUnLy

Occasional unrealistic vendor expectations hover around Sydney auctions: APM

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The weekend’s hot clearance rates have kept the property market unseasonably warm for winter, particularly in the big auction cities of Sydney and Melbourne.
RP Data’s preliminary figures show Sydney with a clearance rate of 75.9% for 657 <a href="https://www.smartcompany.com.au/finance/42971-13-tips-for-buying-at-auction">auctions</a>, the highest in the city for 17 weeks.
Melbourne notched a 66.1% clearance rate with 722 homes going under the hammer, while Adelaide sat at a healthy 62.8% off the back of 68 auctions.
The median price for house in Sydney was $635,000, while it was just $100,000 less for a unit. Melbourne’s house/units medians were similarly close, at $478,000 and $420,000 respectively.
Brisbane’s auction market continued its lukewarm performance, with 44.2% of its 159 auctions sold on the auction block.
The national clearance rate dipped slightly to 67.3% from 69% last week.
RP Data's senior research analyst Cameron Kusher told SmartCompany the results were strong for this time of year.
He said this was particularly evident in the number of auctions taking place throughout the traditionally quiet winter period.
“It shows that, particularly in Sydney and Melbourne, there is still a confidence in the market. People are still willing to sell their homes by auction,” says Kusher.
RP Data predicts auction volumes in August and September to be around 10-20% higher than last year.
While Kusher predicts similar market conditions for this spring as last year, he says the next few months will be the real test as buyers keep an eye on interest rates.
“It will be interesting to see how long the market can sustain this,” says Kusher. “At some point, the market will have to cool.”
Kusher says the growth phase has now been sustained for two years, traditionally the length of a property boom.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
 
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Strong clearance rates keep auction market warm through winter

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While the real estate headlines are excitedly focusing on booming Sydney property prices let's instead take a look at what is happening to rents across Australia.
It is rare to see rents and dwelling prices firing at the same time or rising in concert strongly, and sure enough the June quarter inflation (CPI) data released this week revealed the trend in rental growth to be easing back across every Australian capital city.
The long run inflation data shows how on a national basis rents have never fallen in Australia.
Rents did fall slightly for several consecutive quarters in Perth (cumulatively by 8%) and Melbourne (3%) following the onset of the early 1990s recession.
And around the turn of the century rents fell by 8% over a period of more than a year in volatile Darwin, before then booming outrageously from 2005 to 2010 to levels that could not have been predicted by even the most wildly bullish of analysts.
The above instances aside, nationally rents have risen relentlessly for more than 40 years:
<img src="https://4.bp.blogspot.com/-8L4UHh_iLeo/U9ClZGroG4I/AAAAAAAAOuU/BjmW1SsfmXc/s1600/CPIRENT.jpg"> 
Zooming in the chart to cover the last five years in the major capital cities shows that rental growth is presently strongest in Sydney (+3.0% y/y) and Perth (+2.9%), but both cities have eased back after a strong half decade:
<img src="https://4.bp.blogspot.com/-l4t5KxDGsn4/U9ClLXumksI/AAAAAAAAOuE/nlWtZ51heSc/s1600/CPI+RENT+2.jpg">  
Rental growth is now quite weak in Melbourne (+1.7%) as an oversupply of certain property types begins to bite. 
The fundamentals of the Melbourne property market now appear relatively soft, but the market environment needs a trigger to expose them such as rising unemployment or higher interest rates.
According to the CPI data, Brisbane and Adelaide have recorded year-on-year rental growth of +2.2% and +2.9% respectively.
However, it is abundantly clear from the above chart that the trend is now down in all cases.
For the purposes of completeness, below is what has been happening of late in the other capital cities:
 <img src="https://1.bp.blogspot.com/-g9q-Xnqdz8A/U9ClLYQC5gI/AAAAAAAAOuI/ne0x87Ij72k/s1600/CPI+RENT+3.jpg">
Darwin continues to march to its own drum to some extent with some exceptionally strong rental growth over the past ten years due to its incredibly tight real estate market.
As at June 2014 Darwin's rents are still tracking at +4.8% year on year, although even in the Top End the trend is quite clearly now down.
Rental growth has been weak and has hit a prolonged plateau in Hobart (+1.2%), while Canberra is the most troubled of Australia's capital city housing markets.
With the labour market in mild disarray rents are sliding into negative territory in Canberra following on from negative house price growth over the past 12 months.
The Australian Capital Territory is the one location is been far better to be a tenant than a landlord over the last year.
Summary
In summary, rental growth is easing back or has eased back across all eight capital cities, but the compensating good news for property owners is that with fixed mortgage rates being slashed independently by the major banks, house prices are rising practically everywhere.
In Sydney's case, the market continues to boom, with house prices up by 17% in the last year and more than 25% since the market's most recent trough in 2012. 
Spring will soon enough be upon us agai,n so it will be interesting to see how much of that price momentum can be maintained into the traditionally more active time of year.
Renting v buying in Sydney on the next page. Please click below.
<hr class="system-pagebreak">
Robust inner Sydney rental growth
One of the factors which can begin to put downward pressure on dwelling prices is when renting property becomes comparatively more attractive than buying it.
A few commentators dropped the ball last week when the Reserve Bank released a conveniently-timed research paper discussing just that point: whether folk may sometimes be better to rent property than buy it in the absence of accelerating dwelling price growth.
In doing so pundits perhaps missed the underlying point that the Reserve Banks is likely attempting to jawbone some speculative heat out of the market ahead of a now likely further interest rate cut.
Futures markets are seeing a rate cut to just 2.25% as increasingly likely, and, frankly, so am I.
Rents and prices rising 
The stark reality for Sydneysiders over the past half decade is that life has been easier for property owners because while dwelling prices in the inner suburbs have been rising strongly, so too have rents.
<a href="https://petewargent.blogspot.co.uk/2014/05/rba-on-housing" target="_blank">As the RBA itself noted recently</a>, the inner and middle ring suburbs are adding jobs and are seeing population growth rates well in excess of the state average...and New South Wales is also now adding the greatest number of heads per annum, notching up a massive +110,300 in 2013.
Over the past year, while pockets always exist where rents have overshot and are now falling back into line, rents in many inner suburb locations are continuing to rise well ahead of income growth and the inflation rate.
This is true both for inner Sydney units and apartments:
<img src="https://2.bp.blogspot.com/-P2FeSKAIH0k/U8zAFw1UnDI/AAAAAAAAOn8/mId44SZwO6s/s1600/SYDUNITS.jpg">
...and for inner Sydney houses:
<img src="https://1.bp.blogspot.com/-BLz0c9a4sqI/U8y_4FmjpoI/AAAAAAAAOn0/sCLEZMAzCHA/s1600/SYDHOUSES.jpg">
The rental growth, like price growth, has largely been focused on suburbs closer to the Central Business District.
The RBA's research showed that a near identical trend has played out across every capital city over the past decade.
Renting has not become comparatively more attractive than owning over the past five years or so as borrowing rates continue to decline, dwelling prices are rising and so too are median rents.
In the inner suburbs of Sydney in particular, there is continuing upwards pressure on the housing market.
And, for the reasons noted by the Reserve Bank in their detailed research, this is set to continue due to dramatic demographic shifts towards inner city living.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
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Rental growth easing but house prices are rising practically everywhere

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The latest Commonwealth Bank/RP Data Home Buyers Index (HBI) suggests the national property market conditions have moved to a buyer's market in March 2014 against the balanced market in December 2013.
But the most affordable localities remain regional areas as no capital cities made the top 10 buyer's markets. There are three capital cities, Sydney, Melbourne and Canberra, in the top seller's markets.
The top five best buyer's markets in Australia:
<ul>
<li>Wide Bay-Burnett, Qld;</li>
<li>Mersey-Lyell, Tas;</li>
<li>Far West, NSW;</li>
<li>West Moreton, Qld;</li>
<li>Central, WA.</li>
</ul>
The top five best seller's markets in Australia:
<ul>
<li>Central Highlands, Vic;</li>
<li>Sydney, NSW;</li>
<li>Melbourne, Vic;</li>
<li>Canberra, ACT;</li>
<li>Loddon, Vic.</li>
</ul>
Queensland’s Wide Bay region has regularly recorded the largest proportion of loss making resales, with 30.6% of all March 2014 quarter re-sales transacting at a price lower than what the home was purchased.
The weakness in these two regions is mostly reflective of the conditions across the lifestyle markets where the correction in home values has been more significant, Tim Lawless, national research director at RP Data, has previously advised.
"Prospective home buyers should consider the dramatically different conditions between metropolitan and regional areas," says Clive van Horen, general manager - home loans, Commonwealth Bank.
"The latest HBI shows while the metropolitan areas of Queensland and Tasmania provide good opportunities to negotiate on the sale price of a property, home buyers in the south eastern states should be cautious with their budgets and ensure they don't pay more than the true-market value when purchasing a property," he says.
He stressed the importance of all home buyers comprehensively researching the market to understand the conditions in their area and state. 
The latest HBI report noted mixed market conditions across the states and territories.
Individual state and territory market conditions on the next page. Please click below.
<hr class="system-pagebreak">
State/Territory: Market Conditions:
<ul>
<li>
New South Wales Balanced market - conditions stayed virtually unchanged in March 2014 as New South Wales remains a balanced market, while the Sydney market continues to strongly favour sellers. 
</li>
<li>
Victoria Balanced market - conditions in Melbourne have shifted slightly in favour of sellers in March 2014, however, conditions across the rest of the state are more balanced between buyers and sellers. 
</li>
<li>
Queensland Buyer's market - buyers still firmly have the upper hand in Queensland with Brisbane offering solid opportunities with the coastal region of Wide Bay Burnett, becoming the top buyer's market in the country in March 2014. 
</li>
<li>
South Australia Balanced market - state and capital city market conditions continue to be balanced in March 2014, with Adelaide showing a fairly equal level of power between both buyers and sellers. 
</li>
<li>
Western Australia Balanced market - while conditions in Western Australia shifted from a buyer's market in December 2013 to a balanced market in March 2014, the Perth housing market continues to remain balanced. 
</li>
<li>
Tasmania Extreme buyer's market - conditions remain unchanged in March 2014, with the state continuing to be more favourable to buyers than any other state or territory. 
</li>
<li>
Northern Territory Buyer's market - although market conditions were balanced in December 2013, in March 2014 the property market moved in favour of buyers. 
</li>
<li>
Australian Capital Territory Seller's market - with the state capital Canberra remaining one of the top five seller's markets in the country, conditions shifted from a balanced market in December 2013 to favour sellers in March 2014.
</li>
</ul>
Between December 2013 and March 2014, market conditions have remained consistent across the capital cities with the exception of Canberra, which has surprisingly moved from a balanced market to a seller's market.
The Central Highlands in Victoria also moved from the fourth best seller's market previously to the top seller's market in March 2014.
The index suggests the best buying opportunities are in regional areas of Tasmania and Queensland.
"By and large the best opportunities for home buyers are in regional areas, with particularly favourable conditions in areas outside of the metropolitan hubs of Queensland, Tasmania, South Australia and West Australia," said Lawless.
Image of Bundaberg courtesy of Wikimedia Commons. 
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Regions top affordability in Commonwealth Bank/RP Data Home Buyers Index

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When getting a home loan, particularly with the current tempting low fixed term interest rates on offer, the Consumer Action Law Centre has advised borrowers to consider their opt out fees upfront, as well as the long-term outlook.
Penelope Hill, manager of Consumer Action’s MoneyHelp service, has said that the banks are clearly looking for business, but warned that mortgages are long-term financial products.
While low fixed rates might seem good, if the market changes over the next five years they could face much higher rates at the end of the period that they are not prepared for. Similarly, redundancy, injury, illness and relationship breakdown should also be taken into account.
“Some people like knowing what they’ll be paying a few years in advance – it provides certainty and helps them plan ahead. But as part of that planning they should look at how they would cope with a change in the market or with a drop in income,” said Hill.
Similarly, she warned that sometimes banks fail to explain to new borrowers on fixed-terms that early repayment fees can be charged if they end their loan prior to the expiry of the fixed rate period.
“Unexpected charges can have a significant impact. Consumers should look beyond the headline interest rate and consider the terms and conditions of contract. Do they suit your needs? Are they flexible enough? What would it cost to break the agreement?
“Optimism is a great character trait, but when you’re shopping for a mortgage it pays to temper that optimism and think about a contingency plan,” she said.
She also warned banks and lenders of their obligation to lend responsibly, saying that they must ensure they meet borrowers’ needs and do not cause undue hardship. This includes factoring in the prospect of rate changes.
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jduke-EHk3XBmHkn

Consider opt out costs when getting a loan: Consumer Action Law Centre

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If you are buying a residential property, then you must understand the cooling off period – something that is usually included as a standard in the contract of sale.
In essence, this is a clause that allows you to rescind on the contract to an extent and not lose your deposit. You may, however, be required to foot 0.25% of the purchase price as a result (often taken from your deposit). You must provide the written notice before 5pm of the date the cooling off period ends.
To invoke your right to exercise this part of the contract, you must provide written confirmation that you are rescinding based on the cooling off period.
The cooling off period is the time in which you can rescind under this clause.  Usually, all purchasers are protected by this rule, and off the plan purchasers may be protected. It is worth double checking the contract through with your solicitor prior to signing.
The cooling off period is normally about five business days, however this can be extended or shortened when the contract is being written up. It can be altered later, by an addition to the contract, if done in writing. <a href="/expert-insights/investing/the-eight-steps-a-property-buyer-takes-after-an-offer-is-accepted">In each state and territory the rules are different</a>, so you must seek advice prior to this stage. For instance, Tasmania requires a two day cooling off period minimum, according to the Real Estate Institute of Tasmania.
In Queensland, <a href="/news">this is the form that must be filled out by the solicitor or lawyer</a> in order to alter the cooling off period.
When isn’t there a cooling off period?
Properties sold at a public auction do not have a cooling off period attached – therefore rescinding on a contract will see you losing your deposit.
Properties <a href="/expert-insights/investing/cooling-off-period-changes-in-victoria-could-lead-to-duplicitous-buyer-strategies">transacted close to an auction date may also not come with cooling off rights</a>. In Victoria, this is three days either side of an auction, in Tasmania it is two.
Similarly, you can waive your right to a cooling off period via a 66W certificate that can be written up by a solicitor on your behalf. You may wish to do this to help convince a seller into giving you preference – however, it does mean that there is little turning back. The cooling off period is a safety guard that you should think carefully about losing – particularly if what you are buying is done so hastily or with high pressure sales tactics.
James Buyer Advocates’ Mal James recommends against using the cooling off period as a bargaining chip, and respecting it for what it is.
“Personally we think you are unwise to use cooling-off as a strategy in negotiation. We as an organisation do not use it as a negotiating strategy. Our strong recommendation is that you do all your due diligence prior to signing,” he explains.
Large blocks of land that is not deemed residential property (over 2.5 hectares) does not have a cooling off period.
Cooling off periods are not limited to property, and are often also discussed in relation to other purchases and contractual agreements. For instance, the ACCC reminds you that if you buy something through telemarketing or door-to-door sales, a cooling off period applies.
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