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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

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

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

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

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The first homes and roads at Mirvac’s Harold Park residential Glebe development have been opened, marking the completion of Harold Park’s first precinct, Locarno.
It comprises 298 apartments and terraces in the precinct that will see around 2,500 people live in the 10.6 hectare park side development.
It was August 2011 when Mirvac began marketing its proposed <a href="https://haroldparkbymirvac.com" target="_blank">Harold Park</a> development less than a week after taking ownership of the former harness racing ground. The first sales came in November when prices started from $499,000 for studios, one bedders from $550,000; two bedroom apartments from $775,000; and three bedroom units from $1,245,000.
<img src="/images/2014/07/24/locarno%20harold%20park.jpg" alt="">
Mirvac’s CEO and managing director, Susan Lloyd-Hurwitz, said today that Harold Park set a benchmark for residential development, balancing density, sustainability and quality of life.
“The inner-city will gain a new park that leads right down to the harbour, another two km of cycle paths, easier access to Jubilee light rail station and a new community space with the proposed future restoration and adaptive reuse of the Tramsheds." Ms Lloyd-Hurwitz said.
"Sustainability was at the heart of the way in which Mirvac conducted its business, developing land for housing and employment,” she said.
Harold Park exceeds BASIX targets by 25%.
"That in turn means it offers a better quality of living for residents and becomes an asset for the whole community,” she added.
Lord Mayor Clover Moore said the project was an "achievement for the city".
"The people who will live here will be blessed," she said.
<img src="/images/2014/07/24/harold%20july%2025%20one.jpg" alt="">
Buildings and roads at Harold Park acknowledge the champions of the paceway from 1911 until the final race in December 2010. 
The first precinct, Locarno, was named after the 1980 Miracle Mile Winner, driven by New Zealand owner-trainer Robin Butt, who was at Harold Park for the official opening.
The newly opened streets, Grattan Close and Scotsman Street, were inspired by 1974 Miracle Mile winner Hondo Grattan and the 1979 winner The Scotsman. 
Construction of Harold Park began in 2012, with completion anticipated in 2017. More than 4000 jobs will be generated throughout the life of the project. 
Strong sales have meant that release dates for the six Harold Park precincts have typically been brought forward to meet demand. The most recent precinct release, Altivolo, sold out in a day and Mirvac is currently awaiting DA approval for the fifth precinct.
Some 900 sales have been achieved to date.
With an estimated $30 million cost, the Tram Shed Depot at the northern end of the site, built in 1904 to serve Sydney’s growing network of tram lines, will be adaptively reused to become a market style retail destination and community hub.
HISTORIC TIMELINE FOR HAROLD PARK 
1828 – Suburb of Glebe proclaimed
1890 – Harold Park established with pony racing, trotting, bicycle races and athletics the featured events. 
1904 – Rozelle Tram Depot built to the north of the racecourse and brought punters in their thousands. 
1929 - The racecourse was officially re-named Harold Park 
1939 – US Army commandeered the park for use through the Second World War. 
1958 – Rozelle Tram Depot closed when the Glebe line shut down. 
1967 – Harold Park’s signature race, the Miracle Mile, was introduced. 
1987 – Greyhound racing, which had begun in the inter-war period, ended. 
1987 – Live televising of races which marked the end of the big crowds at Harold Park. 
2009 – The NSW Harness Racing Club moved to Tabcorp Park at Menangle. 
2010 – Site sold to Mirvac 
2010 – On Friday 17 December, the last race meeting was held at Harold Park. 
2012 – City of Sydney Lord Mayor Clover Moore turned the first sod 
2014 – On 24 July, The Lord Mayor and Mirvac CEO and Managing Director Susan Lloyd-Hurwitz declare the first precinct, Locarno, officially open. 
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jchancellor-FAypfDUnLy

"Blessed" buyers start residing in Mirvac's Harold Park 

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Charter Hall launched the start of construction for their 333 George Street office building project last night, with the support of Lord Mayor Clover Moore.
The new office building at <a href="https://333george.com.au/" target="_blank">333 George Street</a> will include 12,500 square metres of open, flexible office space on 15 levels, aiming to be part of the wave of flexible working, or hot-desking, that has been an increasingly popular trend. It has been designed by Grimshaw and Crone Partners, with construction partners Watpac.
It also includes 2,100 square metres of retail at street level. The entire development is valued at $250 million.
Typical office spaces will be 970 square metres in adaptable configurations, and the entire building is targeting a 5 star NABERS rating.
Moore explained to Property Observer that the revitalization of George Street is one of the city's larger current ongoing projects, and will take some years to complete. While surrounding laneways such as Angel Place will be the focus of revitalisation efforts, Moore pointed to Town hall as a potential next project.
<img src="/images/2014/07/24/ignite-july-24-three.jpg" alt="">
Speaking at the construction launch, held at 1 Martin Place, Moore said developments like the 333 George Street project are Sydney needs to stay abreast of its international competitors.
However, the journey has not been straightforward for the site. This was Charter Hall's third acquisition, and among all of their $7 billion worth of office buildings, managing director David Harrison said it was one of their most exciting. They have 100% ownership as the developer, through Core Plus Office Fund.
Despite being an early acquisition, it took some time for the project to be completed. Harrison said that the GFC did delay the project, but that it was always a “crappy building in a magnificent location… Martin Place is the business core of Sydney CBD”. The existing building, that's currently in demolition phase, is a 1970s construction.
The building is neighboured by retail outlets including Louis Vuitton, Burberry and an Apple store.
Tenant pre-commitments for the development are being sought, with completion expected for mid-2016.
Charter Hall is well known for their Melbourne work on 171 Collins Street.
It seems the City of Sydney and Charter Hall are focused on one word: "vision".
The concept of a vision for the site was mentioned by many at the launch event, and is the focus of their marketing material for the development.
<img src="/images/2014/07/24/ignite-july-24-one.jpg" alt="">
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jduke-EHk3XBmHkn

The vision for Sydney's George Street

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The subtly marketed Sydney Olympic Park Opal Tower has selected Bates Smart to undertake the architectural design.
The 30-level apartment <a href="https://www.propertyobserver.com.au/Opaltower.com.au" target="_blank">Opal Tower</a> from developer Ecove will have green walls and elevated communal courtyards every five levels.
It is the fourth residential building from Ecove and will be the most prominent of the Australia Avenue set.
 Bates Smart had previously designed stage two and three – Australia Towers II and One Australia Avenue, which are scheduled for completion in late-2014 and mid-2015 respectively.
Australia Avenue II is 25 storeys, while One Australia Avenue is 30 storeys. All three of the towers have so far sold out, with 216, 287 and 320 apartments for the three stages.
Opal Tower will bring large four-bedroom apartments to market of around 160 square metres internally, and on the upper levels with views to Homebush Bay, Sydney CBD and Bicentennial Park.
Marketing director of Ecove, Sue Ballesty, said that they are an alternative to a family home and that these are something in retrospect they would have built previously.
“We will be one of the few apartment developers in Sydney catering for families,” said Ballesty.
First tower, Australia Towers, currently has more than 600 residents since its 2012 completion.
“The influx of residents has made Sydney Olympic Park into a fully functioning suburb,” she said.
“There is a real sense of community here, and residents appreciate the benefits of living in the sporting and entertainment heart of Sydney and having 430 hectares of parklands as their backyards.”
Marketing isn’t <a href="/expert-insights/buying/subtle-marketing-but-opal-tower-not-expected-to-see-bad-luck">expected to start until later this year</a>.
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Sydney Olympic Park’s Opal Tower selects architect

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The Pace Development Group has secured the Smith Family headquarters in Collingwood.
The prominent 1,139-square-metre site, will now get an apartment complex, Nina, named after the Nina Proudman character in Channel 10 series Offspring, which is filmed around Collingwood.
Pace directors Shane Wilkinson and Cameron Yates, who presumably are fans of the Asher Keddie-played role, expect to start off the market marketing the apartments next year.
The Smith Family bought the Collingwood building 15 years ago with plans to now relocate to smaller, leased premises and use money from the sale of 73-77 Wellington Street for statewide education programs.
The building was built in the 1970s so showing its age and is no longer appropriate to The Smith Family’s needs.
The Smith Family’s Victorian general manager, Anton Leschen, said the sale reflected the charity’s desire to make sure its resources weren’t tied up unnecessarily.
The site is bound by Cambridge, Langridge and Wellington streets.
<a href="https://www.realcommercial.com.au/property-land+development-vic-collingwood-501171563" target="_blank">It sold through CBRE for $8.8 million earlier this month</a>, so apartment design plans are yet to become available.
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Offspring's Nina set to tower in Collingwood

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Yabba dabba don't. The primitive Sydney outskirts offering - an open air stone cottage on 16 hectares at Glenorie - has been withdrawn from sale.
Buyer's baulked at the asking price, so the owner has decided to keep their long-time Flintstonesesque offering.
Under its thatched roof, there is shelter with no floor, door or windows. Some stone lounges and benches, but no bathroom. The kitchen comes simply with fireplace.
Its listing agent Ian Campbell from Ray White Elizabeth Bay described the Smallwood Road property as just one step up from camping.
He took over the listing which had begun in May last year with $668,000 hopes.
Offers above $500,000 were being initially sought by Campbell, then more recently adjusted to $450,000 plus, until its recent withdrawal.
Purchased more than 30 years ago by the Moriceau family, 411-469 Smallwood Road, Glenorie, served as a weekend escape.
It last traded in 1977 at $13,000.
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No sale of Flintstones-style open air Glenorie stone cottage

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The latest price data tends to support my view that we have not had, to this point, a national property boom; and that we may be about to have one.
Australian Property Monitors’ price data for the June quarter suggests only Sydney has had exceptional pride growth, both for houses and for apartments. All other capital city markets have had growth ranging from negative to low to moderate.
The APM figures are generally (though not completely) in line with those published by RP Data.
Let’s look at houses first. In terms of annual growth to the end of June, both data sources report a capital city average a little above 10%. Economists have looked at that and perceived a national boom, which provides further evidence of how desperately dumb they all are, on property matters at least.
Looking city by city provides a different perspective. Only one city has achieved the city average growth rate. Sydney’s annual growth was 16% (RP Data) or 17% (APM). The property boom starts and ends there.
Both sources agree that Melbourne has grown close to 10%, Brisbane around 7% and Perth around 5%. Depending on which source you prefer, Adelaide has grown 3% or 5%, Hobart 2% or 6%, Darwin 5% or 1%, and Canberra has grown 3% or dropped slightly.
There’s a similar pattern with apartments. The capital city average is annual growth of 8.3% (APM) or 9.1% (RP Data). But the only boom figures have been in Sydney, up 12% or 13%.
Melbourne has risen 4% or 5%, Adelaide about 1% and Darwin 7% or 8%, while Perth is up 5% if you believe APM or more if you favour RP Data.
There’s conflict with the data on the other three capital cities: Brisbane is up 5% or down 1%, Canberra is up 4% or down 2%, and Hobart is up 7% or down 8% - for reasons I don’t understand, there is always this great contradiction about the Hobart unit market in the figures from the two competing sources.
The bottom line is that there is no boom in those figures, except for Sydney. There is evidence aplenty of solid markets in most cities, but the growth rates are low to moderate (and, in a few cases, negative). Keeping in mind that there were several years of falling values pre-2013, the data makes nonsense of the bubble arguments from those suffering from limelight deficit disorder.
So no national boom – but, if you look more closely, evidence that one may be brewing. Looking at APM’s annual growth figures for the cities, if you compare the 30 June 2014 numbers with those six months earlier, you find that the growth rates have improved in most cities.
Adelaide grew only 3% in 2013 but six months later the annual growth rate has doubled.  Brisbane’s growth rate is up from 5% to 7%. The annual growth rates for Sydney and Melbourne have both grown two percentage points. Hobart has improved from 5% to 6%. Perth, Darwin and Canberra have deteriorated, but the city average has risen from 9.8% to 10.9% in six months.
According to the APM figures, all capital cities except Darwin showed improvement in their median house prices in the June quarter.
Similarly, most of the cities delivered growth in their apartment markets in the June Quarter, with an average rise of 2.5%. Only Hobart and Canberra fell.
The overall picture, therefore, is growth rates that are moderate - but rising.
Housing finance approvals are up 10.7% for owner-occupiers (with all state and territories rising strongly except the Northern Territory) and 27% for investors (with five states/territories recording annual rises above 13% and six states/territories recording monthly rises of at least 14% in May, the latest month for which we have figures).
Residential building approvals rose 17.4% in the 12 months to the end of May, with five states or territories recording annual rises above 20%.
There’s a pattern there suggests growing national momentum in property markets. The national price boom that was incorrectly perceived by myopic economists, and then inaccurately declared dead by those who rush to judgment, may be only just beginning.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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terryryder-YECXbqmri2

National price boom may be about to begin

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A 9% surge so far this year in Sydney's south-west helped the Sydney median house price edge through the $800,000 barrier to an all-time high of $811,837, according to the Australian Property Monitors June quarterly house price report. 
Sydney apartment prices outpaced house prices over the June quarter, up by 3.9% to a record high of $573,255, with the northern beaches the strongest region with prices up 9.4% so far this year.
For once there was no great divide between Sydney's so-called Silvertails and Fibros.
Sydney house prices were up almost $118,000 annually, or a $2,200 a week, without the eastern suburbs being on board.
Sydney's overall 3.1% June quarter increase took the 2013-14 financial year house price growth to 17%, well beyond the nearest capital rival Melbourne with a 10% rise in house prices to $607,700.
With a 13.3% annual hike, Sydney apartment prices were up $67,000 annually, or $1,300 a week.
While less than the December 2013 quarter high watermark for Sydney's current growth cycle, Dr Andrew Wilson, the APM senior economist with the Fairfax Media Domain group, said the Sydney housing market remained the "standout" capital city performer with another strong quarterly result.  
The national median house price increased by 1.9% over the quarter, the same result as the previous quarter to $627,940.
 The national median unit price recorded a sturdy rise of 2.5% to $473,385 which was higher than the 1.6% increase of the March quarter.
But while Sydney unit prices up 13.3% over the year, the Melbourne apartment market reported just a 0.7% increase over the quarter to be up by 4.0% over the year at $419,639.
Recording eight consecutive quarters of house price growth, the Brisbane housing market continues to gather momentum.
Over the June quarter, the Brisbane median house price increased by 1.5% over the quarter with the Brisbane median house price now at a new record level of $477,352.
Brisbane house prices increased by 6.9% over the year ending June which was the highest annual result for the city in four years. But Brisbane unit growth was no where near as strong.
The weakest apartment market in the country is Canberra.
The significance of the latest data is the increasing return of Sydney being the engine room of Australia's property price growth.
Back in 2003, Sydney's median house price was more than double Perth's, but the price gap narrowed to within 6% during late 2006. 
Perth's median was $491,000, in contrast, Sydney's median price at $520,000 in late 2006.
Then around late 2010 Melbourne was fast closing the gap on Sydney as Australia's most expensive city to buy a house, with its median price around $89,000 less.
There is now a $204,000 gap between Sydney and Melbourne, some 25% higher, and a $192,000 gap between Sydney and Perth, some 23% higher. 
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Source: Australian Property Monitors.
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Price surge for south-west fibros and northern beaches silvertails sees Sydney sprint away from the rest of the capitals

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Hi Margaret,
I have already met eligibility requirements to buy a property with my First Home Saver Account (FHSA) money. 
Do you know whether i still have to meet the 'live in the property for at least six months over the next 12 months' requirements given the 12 months will extend beyond the date that this rule is abolished?
Regards,
FHB
Margaret's answer on the next page. Please click below.
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Hi FHB,
The First Home Saver Account (FHSA) was an initiative by the federal government to boost the savings of first home buyers by providing incentives via an additional deposit and tax advantages to this account as long as you placed your own savings in it. 
The rules were simply that you use it only on your first home, do not draw anything out of it for four years, and pay at least $1000 a year into the account over at least four years. In return the government made a 17% contribution on the first $6,000 and only taxed any earnings at 15%. The funds from your first home saver account could only be used to buy a property you intended to live in. The occupancy rule stated that you must live in the home for at least six months and it must be your main residence.
The six-month period must start within:
<ul>
<li>12 months of you becoming the home owner (from settlement date) or;</li>
<li>12 months from the day construction was completed if you are building a home</li>
</ul>
If you failed to use the funds on your first home, it had to be rolled over into superannuation.
However these accounts did not take off as expected and so the following changes will occur:
<ul>
<li>Accounts opened after 7:30pm Tuesday 13 May 2014 will not be entitled to the government contribution</li>
<li>Existing account holders will not be eligible for a government contribution on personal deposits after the 2013-2014 financial year</li>
<li>Tax and social security concessions will cease 1 July 2015</li>
<li>Restrictions on withdrawals will be removed on 1 July 2015</li>
<li>First home saver accounts will be abolished on 1 July 2015</li>
</ul>
Having said all of that, as of today the accounts are current and this means that the requirements are current.  Since ‘living in the property for six months starting sometime within the first 12 months’ could potentially mean that your six months might feasibly start after the abolition of this rule, one would expect that it would no longer apply at that date. 
However, as you would be accessing the funds during the time that the scheme is still current, you will most likely be required to fulfill your obligations and start living in the property, staying there for the full six months, regardless of when this falls.  The government has provided the benefit and so you should follow the rules relating to that benefit.
If I were you I’d make a call to the Office of State Revenue in your state and clarify their position.  If they do, be sure to get it in writing so that you can prove that this is what you were told, if questioned at a later date.
Regards,
Margaret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Do the First Home Saver Account eligibility requirements still apply?

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Parramatta has long been seen as one of the most significant growth areas in Sydney.
It’s on a major train line, has every amenity that can be thought of – serviced by a huge Westfield – and takes just 25 minutes to get to Sydney’s Central station.
Attracting big name developers, such as <a href="/expert-insights/buying/slab-to-be-set-on-highest-residential-tower-in-parramatta-v-by-crown-today">Crown Group with their recent V by Crown development</a>, and many offshore developers taking their first steps into the Sydney market, it’s a behemoth.
The bullish growth-orientated council in July 2010 released a report called <a href="/news">Parramatta – Australia’s next CBD</a>, and many would agree that four years on they’ve achieved that aim or are close to it.
In fact, turning to their property prices a clear picture of growth emerges. In January 2010, <a href="/news">RP Data recorded the median house price at $544,000</a> and the median unit price at $350,000. Those medians have now risen to $712,500 and $471,125 respectively. This is indicative of both increasing demand and willingness to buy in Parramatta, and high standard developments bringing prestige apartments to the market. Median weekly advertised rent sits at $460 for a house and $440 for an apartment.
It’s not even done yet – with several more billions of dollars to be poured into developing Parramatta, and the tallest residential tower in Australia slated for the city.
This wasn’t a surprise hotspot. While some were suspicious of the area 10 years ago, the last five years have seen many buying in, suggesting that it’s a worthwhile place to consider and many a property industry pundit has recommended it to their nearest and dearest in the past.
Yet, with prices becoming too high for the majority of investors, understandably, this has many turning elsewhere for opportunities – particularly as growth has already occurred and discussions of Sydney’s slowdown are being heard.
At the Sydney Home Buyer and Property Investor show, Property Queensland Pty Ltd had the slogan ‘Ipswich – Brisbane’s Parramatta’ on their stand, boasting strong yields and opportunities for investors.
<img src="/images/2014/07/21/home-show-july-21-two.jpg" alt="">
Taking it to the data first, <a href="/news">RP Data currently puts Ipswich’s median house price at $309,000</a>. In 2010, this was $332,000. The data for units is statistically unreliable (across the statistical area of Ipswich, the latest available data from the Australian Bureau of Statistics notes that less than 2.5% of the dwellings are apartments).
It’s worth remembering the floods that ravaged the area in 2011, and are likely behind some of the subdued prices. Median weekly advertised rent sits at $280.
Todd Hunter, director and buyer’s agent for Cronulla, Sydney agency wHeregroup, has been buying in Ipswich for several years.
This property (pictured below) was purchased by Hunter for a client in 2012. It was bought at $274,000, settling in September of that year, and is currently rented at $340 per week – or 6.45% rental yield.
<img src="/images/2014/07/23/P1180862.JPG" alt="">
Unsurprisingly, he’s keen on the area for his clients as it fits his investing model – below $300,000, high yielding properties in his discovered growth areas.
“Ipswich offers the ability for those who live there to work in the Ipswich CBD as well as the new developing Springfield Lakes Business Park,” he explained to Property Observer.
“Now with the new train line opened in Springfield and Springfield Lakes, this will attract those access to travel into the are for work.”
Yet he concedes it’s not as big as Parramatta, despite both attracting more businesses caring for lifestyle, as well as business and corporate-type industries.
“NEC is one company that sees the benefits of what the area has to offer. And with Orion shopping centre across the road, it allows those working there to enjoy the benefits of having nice places to enjoy their lunch and shopping,” he explains.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
But can Ipswich really be equated to Parramatta?
Property Queensland Pty Ltd managing director Graeme Shiels provided Property Observer with the following points as to why he considers Ipswich equitable to Parramatta.
<ul>
<li>Their CBDs are both "cities within their city" 
</li>
<li>They are both in the western suburbs 
</li>
<li>Decades ago, those who lived in Sydney's western suburbs were known as "westies" and lived in low-priced properties 
</li>
<li>Parramatta CBD then emerged to what it is now and some dwelling are well over the $1m mark 
</li>
<li>Ipswich CBD has commenced this emergence with new buildings going up and is the hub of this region which is about half the km2 of the ACT 
</li>
<li>The Qld govt is transferring thousands of public servants from Brisbane to the Ipswich CBD 
</li>
<li>North Ipswich now has the equivalent of a Westfield regional shopping centre 
</li>
<li>Amberley has the RAAF's biggest air base in Australia 
</li>
<li>A 188 hectare aerospace business park commences construction this year next to the RAAF base, to become the biggest maintenance facility in Australia</li>
</ul>
He also believes that the distance from Parramatta to Sydney, and that from Ipswich to Brisbane, is crucial – he provided the image below expressing this.
<img src="/images/2014/07/23/IpswichOverlaidOnSydney%20L.jpg" alt="">
Shiels' research, which he notes has been his ongoing project for 10 years, also cites well-known property commentator Michael Matusik, as does the Ipswich council.
In 2003, Matusik's 'The Matusik Snapshot' said: "Ipswich has the capacity to be the Parramatta of SEQld ... has large tracts of relatively cheap land and now, with a pro-active local council and state government incentives, Ipswich looks set to deliver."
Ipswich's potential has clearly been on the radar of many for some time - despite 2003's Parramatta being vastly removed from that we see today. 
However, Ipswich was recently seeing many people making a loss. <a href="/expert-insights/buying/losses-seen-in-all-brisbane-regions-for-march-quarter-with-ipswich-the-biggest-loser">RP Data’s Pain and Gain report saw no Brisbane municipalities escape losses</a>, and in fact Ipswich saw the most loss making sales – with 19.2% of those sold in the March quarter doing so at a loss. The median loss was recorded at $21,000. Painful numbers indeed.
And yet, from previous research, it <a href="/news/qld/suburb-spotlight-ipswich-picks-up">does seem the area is picking up</a>.
Observer <a href="/news/qld/ipswich-dominates-brisbane-property-market-and-is-poised-for-strong-growth-terry-ryder">Terry Ryder has also put his thoughts to the area</a>, some two years ago, suggesting growth would be strong.
“The Ipswich corridor is well-known around Australia as a growth region. It became popular with investors in the mid-noughties for its cheap prices and above-average yields, and prices rose strongly in the five years to 2010,” he explained in 2012.
“Big infrastructure developments like the $2.8 billion upgrade of the Ipswich Motorway (officially opened in May) and the $1.5 billion rail link to the Springfield master-planned community are adding to the area’s appeal, as is the ongoing emergence of major jobs nodes, such as the commercial components of Springfield, big industrial estates like Citiswich and the expanding RAAF Base at Amberley, just outside Ipswich,” he said.
Taking the debate to Twitter, it saw some warning of floods in the region. Certainly something to avoid, and <a href="https://www.ipswichplanning.com.au/flood-map-information" target="_blank">easily done using these Council flood maps</a>. It's also notable that there's a distinct lack of higher density dwellings than seen in Parramatta - something that has recently come to define Sydney's second CBD.
So does it offer potentially good investment prospects? If you buy well, it does seem to offer lower priced, higher yielding prospects.
But is it able to be equated to Parramatta just yet? The jury is out.
{module Do you think Ipswich has the potential to be Brisbane's Parramatta?}
Picture courtesy of Wikimedia Commons/Clarebear/ <a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
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Is Ipswich the next Parramatta?

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The weekend's cheapest Sydney sale was at Narellan in the Camden municipality.
The $418,000 sale was its first since 1977 when it sold for $9,000.
The price growth topped 10% per year over the 37 years' ownership.
<a href="https://www.homehound.com.au/listing/for-sale/nsw/sydney-region/macarthur-camden/narellan-macarthur-camden/23-rudd-street-narellan-nsw-2567/" target="_blank">Combined Real Estate Narellan</a> marketed the property as bequested to a childrens' charity, so they were not charging any commission for the purpose of the auction.
The <a href="https://www.onthehouse.com.au/reports/property_profile/14597180/23_Rudd_Street_NARELLAN_NSW_2567/" target="_blank">onthehouse</a> price estimated was prior auction given as $370,000 to $470,000.
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