<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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Sydney's Barangaroo has seen its first publicly advertised property sale, C602 Globe Street, for $2.2 million. Set to be built in 2015, the two-bedroom, two-bathroom one-car space apartment spans 113 square metres and was marketed as the highest positioned property of its floor plan type.
Located on level six of the nine storey 77-apartment <a href="/expert-insights/buying/every-apartments-has-harbour-views-as-lend-lease-unveils-two-barangaroo-apartment-blocks">Alexander Building</a>, the first release sold out within four hours.
It boasts views across Sydney Harbour and, of course, Barangaroo, and has a balcony designed for year-round entertaining, with 15 of its total square metreage being external.
Security access, video and audio intercom, optical fibre backboning cable and dual zoned air conditioning will be installed in the home.
It will be created with reconstituted stone bench tops and splashback, Miele appliances, including stainless steel cooktop, 60 centremetre pyrolytic stainless steel oven, 60 centremetre microwave oven, externally ducted range hood and an integrated dishwasher.
Sold by Tolga Ozer from Wilson Property Agents it also comes with Jonathon Richards interiors from SJB Architects.
Advertising material suggested it was under offer at $2.25 million.
Globe Street is located between George Street and Harrington Street. 
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jduke-EHk3XBmHkn

Barangaroo's first publicly advertised property sells for $2.2 million as market heats up

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In our previous article on expressions of interest (EOIs), we described this form of property sale as being <a href="https://www.google.com/url?q=https://www.propertyobserver.com.au/residential/the-high-stakes-poker-game-of-expressions-of-interest/2014021967905&amp;sa=U&amp;ei=hNsgU5DfGJDqoASAloLQCQ&amp;ved=0CAYQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNGhJuGFLvqV_VYBXtRh5uCw1aeSkg" target="_blank">a bit like a game of poker with high stakes and few or no rules</a>.  EOIs can also unfold very differently depending on the agency involved and on the dynamics of the situation making them a challenge for the unprepared buyer.

Here are a couple of examples that show just how differently EOIs can pan out:

22 Rowland Street, Kew

<img alt="" src="/images/stories/2014/03/13/kew-march-13-one.jpg">

22 Rowland Street, <a href="/news">Kew</a> (pictured above) was a quite extraordinary property and we were curious as to what its eventual value would be.

So what happened in the end?

[smartcode_project:default project_id=31282]

Well, by March 1, the agents Kay and Burton had received expressions from four interested parties. Three of these were invited to a Boardroom discussion. This was a little unusual in that the seller’s reserve had not already been met.

The three parties competed at this Boardroom discussion at the mid $4 millions level, until the highest bidder was established. That party was then negotiated with exclusively until an agreement was reached. The final purchase price is confidential but it was in the ballpark of $5 million.

38 Cochrane Street, Brighton

<img alt="" src="/images/stories/2014/03/13/brighton-march-13-one.jpg">

A quite different scenario unfolded with another EOI campaign that we were involved in, for 38 Cochrane Street (pictured above), which came to a conclusion the following day.

This property shared some similarities with Rowland Street – it too was <a href="https://www.james.net.au/rating/38-Cochrane-Street-BRIGHTON" target="_blank">an excellent and unusual home</a> and the vendors had decided to sell it through an EOI campaign with Kay and Burton as the agency.

It too had four bidders. But beyond that, the way things unfolded at Cochrane Street was very, very different.

[smartcode_project:default project_id=25425]

For a start Cochrane Street had a quote, of $3.25 million plus, whereas 22 Rowland did not.

More importantly this EOI campaign did not go the distance. The closing date was March 11, but an offer of $3.5m was put forward two weekends before the closing date.

Another difference is that in this case the buyer offer was acceptable to the vendor. The home was therefore declared by the agents as being “on the market”.

[smartcode_project:default project_id=29974]

It also triggered a faster resolution process than 22 Rowland St Kew. While the Boardroom auction had initially been set down for Monday, after some behind-the-scenes discussions mid way through Sunday afternoon, that was changed to Sunday evening.

At 8.00 pm on Sunday evening, in the home, four interested parties – including us – turned up and all bid until 38 Cochrane was sold “under the hammer” for a confidential amount in the ball park of $4 million.

Implications for buyers

As you can see then, just in these two examples we have two very different methods within the EOI via the boardroom auction resolution concept. These have important ramifications for buyers.

<ul>
<li>One was “on the market” before the bidding started, and one was not. When a home is not “on the market” there can be traps for new players.</li>
</ul>
<ul>
<li>One was concluded well before the EOI closing date and one was concluded two days before. The difference here was the element of surprise from the buyer versus the planned strategies from the seller.</li>
</ul>
<ul>
<li>One was sold publicly in front of all bidders and one was not. Both would have put incredible pressures on people not used to this form of dealing. Try sitting around a table or in the same room with three others who are politely trying to beat you to a pulp and you will start to get the feeling of what a boardroom auction is designed to do.</li>
</ul>
[smartcode_project:default project_id=94079]

And there are other ways of conducting EOIs

<ul>
<li>EOIs can work via inviting best offers, which means you all put in your offers in writing and the highest wins. It doesn’t always quite pan out quite like that, however, which is where it gets tricky.</li>
</ul>
<ul>
<li>You can also have EOI via a private negotiation</li>
</ul>
<ul>
<li>And of course plenty of EOIs don’t actually sell.</li>
</ul>
We have been involved since last year with another EOI Kay and Burton campaign on a totally different property at around the same $5 million price point – and no resolution has taken place yet. As late as last week we were in discussions across the table with both the seller and the “attempting buyers”. This is not a criticism of the process, this is a fact of life. This last meeting took place on a Saturday evening with directors of James Buyer Advocates and Kay and Burton present – so at least both agents and advocates are still trying.

But wait there is more

These are examples of EOIs conducted by Kay and Burton. That’s just one agency. Other agencies we have been involved, such as Fletcher’s, Jellis Craig, RT Edgar, and Hocking Stuart, operate EOIs very differently again. They all have different methods for EOI and the large majority of them are not in writing.

So in summary, expressions of interest are subject to:

<ol>
<li>Big variances within the agency</li>
	<li>Big variations across different agencies</li>
	<li>Changes in the “rules” as you go through the process</li>
</ol>
If you think this process is designed to be transparent and fair to the buyer then you completely misunderstand the concepts behind the process. Not that this is a criticism; after all, the selling agents are not working for you the buyer, they are working for the seller – and whatever works for them is doing the job.

So why would a seller or a buyer get involved in an EOI anyway?

Seller

Often in a sale – auction or otherwise – there is one standout buyer. Conducting an auction campaign with a skilled lone buyer (or buyers’ agent) doesn’t always get the best result for the seller. An auction works best when there are multiple buyers at a certain level. But because an EOI is not transparent – you can’t see any other buyers in action – and there is no real time limit, that can work well for the seller as long as a skilled selling agent is involved.

Buyer

If the home you want is for sale by EOI you have no choice but to be involved. But hopefully you can read between the lines to see some of the strategies of the buyers who eventually won 22 Rowland and 38 Cochrane. Those strategies were very clear and distinct and planned and well-executed, resulting in the desired result.
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maljames-vHwm28JUAa

Expressions of interest: How the process really works and the implications for buyers and sellers

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Kippilaw, the colonial Breadalbane homestead, has been sold for $4.2 million via online auction.
The online Meares &amp; Associates offering, where bids where to be placed between March 10 and March 12, sold to bidder 10 when offers closed this afternoon.
{yoogallery src=[images/stories/2012/09/sept27outkipp]}
The opening online bid was at $3.75 million, with a $4 million vendor bid placed for the trophy holding with a restored homestead - a two-storey, six-bedroom stone house comprising four separate wings with a central courtyard.
Its history stretches back 180 years to when James Chisholm and his wife, Elizabeth, moved to the NSW southern tablelands district, taking up a grant of 1,280 acres (518 hectares) given to her as a marriage portion from Governor Ralph Darling , a custom begun by Governor Lachlan Macquarie for settlers on their marriage.
Elizabeth named their 1837 Georgian residence after her birthplace in Scotland, Kippilaw, near Melrose Abbey.
Its meaning comes from "Kippi" which is Pictish for "little", and "law",which is Saxon for "hill". 
The restored house comes with views of the Wollondilly River and gardens in the Italian manner.
Agent Chris Meares also oversaw the last sale when in 1997 Janet and Graham Webb sold the farm to businessman Robert Rich and his late wife Helen in 1997 for about $2.6 million.
Kippilaw is a viable working farm with 400 acres (about 160 hectares) of quality breeding and fattening country, which have been well fertilised and pasture improved over the years. It grazes and fattens 160 cattle on the pastured acres, supplemented by winter grazing crops.
{yoogallery src=[images/stories/2012/09/sept27inkippilaw]}
The Kippilaw gardens comes with oak trees line as old as the house that line the driveway.
The gardens comes with tennis court and nearby in-ground swimming pool with small pool house.
There's the sunken garden built by one of the Chisholm boys during WWI and the historic rose garden, supplemented by carpets of daffodils, jonquils, iris, peonies and roses with a spectacular wisteria and rose archway.
The Meares agency sale improves its online success to date with auctionsworkonline, with now the sale of two of its past seven listings. Last December it secured the $2.25 million sale of 3370 Sturt Highway, Wagga Wagga, a flood irrigation/grazing holding called, Kabinga.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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jchancellor-FAypfDUnLy

Colonial Kippilaw near Goulburn sells for $4.2 million in pioneering online auction

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I’ve said it time and again that the residential investment property is a long-term proposition. The property market takes around seven to 10 years to move through a full cycle, from low capital growth/high rental yield to high growth/low yield and back again. 
Despite this, many property investors choose locations and property styles with little potential to survive and thrive throughout market fluctuations. Some investors choose locations that lack the long-term underlying demand to drive capital growth, while others choose property styles that don’t reflect trends in the way people want to live. 
In other words, the property investment decisions that look good today may not prove so attractive in five, 10 or 20 years’ time. It’s essential to understand the nature of long-term economic and demographic trends, then select assets accordingly. 
Interest rates rise and fall, but in the long term, dwindling oil reserves and rising petrol prices will be a key economic trend influencing the property market. In the coming years, rising prices at the pump will make outer-suburban living and commuting less feasible and less appealing. This will curtail the urban sprawl and increase demand among home buyers for property in the middle suburbs close to public transport corridors, shops and schools. 
At the same time, rising property prices in the inner and middle suburbs will put home ownership beyond the reach of more Australians, or at the very least, delay it significantly. Figures from the Bureau of Statistics tell us that the proportion of households renting from private landlords in Melbourne has increased from 22.8% in 2001 to 27.2% in 2011. Almost 32% of Sydney’s property market is inhabited by tenants. 
The increase in tenant demand is not unique to Australian cities. Major global cities such as London and New York have 50% or more of their property tenanted. I am not suggesting we are a London or New York just yet, but we are following a similar path, and there’s every reason to expect that this trend will continue.
Because many tenants want to maintain the trappings of an urban lifestyle, the trend away from home ownership will increase demand for rental properties within walking or short driving distance from trams, trains, shops, cafes and entertainment precincts. For those who can afford to buy, these areas will also be their preferred choice. This two-pronged demand from home buyers and investors will further boost capital growth prospects in the inner and middle suburbs. 
Delaying having children is another trend set to influence the residential market well into the future. The median age for parents is 28.9 for women and 33.1 for men, and women currently have an average of 1.9 children, compared with 2.8 in 1981. 
This trend has resulted in the average number of people per house almost halving over the last 100 years from 4.5 in people to 2.6. In addition, single-person households have jumped from 22.9% to 24.4% over the last 10 years. 
The shrinking size of the family unit means that demand for low-maintenance, compact dwellings will increase, while demand for the conventional sprawling home on a quarter-acre outer-suburban block will soften. 
When you look at all these trends in their entirety, it’s clear that pockets of the middle suburbs close to public transport, shops and schools will provide feasible long-term opportunities for residential property investment, particularly for investors who have been priced out of the tightly held inner suburbs.
This article first appeared on Property Observer in November 2012.
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marmstrong-sd3emVLPPb

Current trends can point to the best places to invest in the future

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Clearance rates in Sydney are continuing to reach record highs, with more than 80% of homes up for grabs consistently selling each weekend.
On Saturday, 82.4% of properties sold at auction in Sydney, according to the latest figures from Australian Property Monitors.
APM senior economist Andrew Wilson said last year’s momentum is continuing to prevail in 2014 and there are no signs the market is slowing.
“Sydney is tracking around those low 80% numbers, even though we’re getting considerably high listing numbers for this time of the year,” he says.
“It’s a strong market in Sydney. There had been a feeling some of the budget markets like Canterbury, Bankstown and the west and south-western suburbs were falling off the pace, but even they had some reasonable clearance rates in the 80% range again.”
In 2013, the prestige market in Sydney lagged behind the rest of the market. However, this trend seems to have been reversed, with premium suburbs now also recording high clearance rates.
“Even though the bottom end had been waning a little bit, the top end has been picking up,” Wilson says.
“This market was quiet a year ago, but prestige property is back in town and there have been higher numbers of prestige properties on the market. There is a sense the prestige market has now taken on the energy the market’s had for the past 12 months.”
Over the past four weeks, Sydney has seen auction listing numbers consistently above 600.
“There are really no dark clouds on the horizon, which appeared to be gathering at the end of last year. Economic factors like retail sales and construction figures are on the up and low interest rates are one of the key drivers of the market,” Wilson says.
But Wilson says despite this some cracks could be starting to show in Sydney’s rental market.
“We’re starting to track a sense that vacancy rates are rising, which could be a concern for some investors, and rents have been flat now for some time. This could signal some concerns about the viability of the rental market,” he says.
In Melbourne, there were lower listing numbers than usual due to the Labour Day long weekend. However, out of the 227 properties listed for sale, 70.1% sold; an increase of almost 10% on this time last year.
“In Melbourne it was a holiday weekend, but it still had a reasonable clearance rate and listings were also up compared to this time last year,” Wilson says.
“The market is tracking a little higher than this time last year, with inner bayside suburbs particularly strong. We’re expecting a big weekend this week.”
Wilson says the strength of the Sydney and Melbourne markets is evidence of the effectiveness of low interest rates.
“The Melbourne market has passed every test which has been thrown at it so far… it shows what low interest rates can do,” Wilson says.
Brisbane, which has been tipped as the <a href="https://www.smartcompany.com.au/finance/investment/35385-brisbane-to-boom-house-price-growth-to-slow-property-trends-for-2014">hot spot for property investors in 2014</a>, recorded a clearance rate of 59.5% and 105 properties were listed for the weekend.
However, Wilson says this isn’t an accurate reflection of the market.
“In general terms there is a sense in the Brisbane market it’s picking up. It’s still below its previous price peak but expect to regain record level prices sometimes this year,” he says.
“Investors and the middle market are very active.”
This article first appeared on <a href="https://SmartCompany.com.au" target="_blank">SmartCompany</a>.
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yredrup-o4Anfe78KF

Sydney auctions still going gangbusters, and there’s no sign of slowing

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It's rare to see the Left and the Right reaching consensus, but it appears nothing can pull Australians together as much as the threat posed by Chinese property buyers.
Today Paul "Magic Water" Sheehan offered his take on the impact of Chinese buyers on the Sydney residential property market. He <a href="https://www.smh.com.au/comment/cashedup-chinese-are-pricing-the-young-out-of-the-property-market-20140309-34f9k#ixzz2vVe3TEVC" target="_blank">warned darkly in today's Sydney Morning Herald</a>:
"The growth of the Chinese middle class has been so explosive, and on such a scale, that it has the capacity to affect Australia in ways that will need to be controlled if some trends continue to accelerate. Notably home buying."
Sheehan, it seems, is was most worried about young people:
"First-time buyers, young buyers, are now caught in a pincer movement between superannuation and Chinese investment."
A pincer movement. Wow. But Sheehan was merely echoing Clive Hamilton, who recently <a href="https://www.theguardian.com/commentisfree/2014/feb/18/wealthy-chinese-buyers-are-making-sydneys-housing-problem-worse" target="_blank">wrote an article for The Guardian</a> originally headlined "Wealthy Chinese buyers are making Sydney’s housing problem worse". Hamilton's piece commenced:
"Every weekend in Sydney, young Australian couples are turning up at auctions excited at the prospect of finally owning their own home, only to find that other bidders are wealthy foreign buyers with money to burn."
"Cash pouring in from China" was responsible, Hamilton claimed -- a "flood of unregulated investment". It touched on the same themes as Sheehan's piece later would: young people priced out of the market, official indifference, how Hong Kong doesn't let the same thing happen.
But the headline on Hamilton's piece was changed to "Foreign demand is making Sydney’s housing problem worse" after an outcry from readers. The Guardian offered an apologia almost as long as the article itself admitting a number of problems with Hamilton's article, although "the author stands by his opinion".
Hamilton and Sheehan aren't the only ones, though. This "flood" of unregulated money from China is becoming a staple of media real estate coverage, especially in Fairfax papers, which have carried articles about the Chinese property "splurge" as real estate prices, especially in Sydney, have soared.
Well, let's try some facts, courtesy of the Foreign Investment Review Board's <a href="https://www.firb.gov.au/content/Publications/AnnualReports/2012-2013/_downloads/FIRB-Annual-Report-2012-13.pdf" target="_blank">2012-13 annual report</a>, which has data on who is buying residential property. Total foreign investment in residential property in Australia fell in 2012-13, from $19.7 billion to $17.2 billion. That was because of a fall in "off the plan" purchases; purchases of existing dwelling stock increased to $5.4 billion (it had fallen in 2011-12), and purchases of vacant land had more than doubled to $1.4 billion. Victoria and New South Wales dominate as destinations for foreign investment in residential property, garnering around $5.8 billion and $5.5 billion respectively.
But importantly, foreign residential real estate investment skews toward new dwelling construction: in 2012-13, despite the fall-off in off-the-plan purchasing, $8.64 billion in foreign investment was for new dwellings, with a further $2 billion for other development, while investment in existing dwellings was $6.4 billion. The predominance of new dwelling investment in foreign residential investment is dramatically at odds with the rest of the market, where new dwelling investment is a fraction of housing finance.
Where does the investment come from? Residential property investment from China is substantial. Chinese buyers are the biggest foreign real estate investors: in 2012-13 they purchased just under $6 billion in real estate -- but that includes commercial real estate, which is twice as large a target for foreign investment as residential real estate. But Canada and the United States aren't far behind the Chinese; Canadians invested just under $5 billion in Australian real estate, and Americans $4.4 billion. Singapore was next with $2 billion, then Malaysia with $1.6 billion; in between were the British, on $1.7 billion.
So, even arbitrarily and xenophobically combining all Chinese, Singaporean, Hong Kong and Malaysian real estate investment under a "Chinese" stereotype means "China" is only just ahead of North American real estate investment (and again, remember that these figures include commercial real estate). And if you lump in the Brits and the Kiwis, investment from "white" foreigners exceeds that from "Chinese" foreigners.
Read many stories about white people driving up Sydney real estate prices? Of course not. Hard to get a good anecdote about white people showing up to an auction and bidding successfully for a property. "Chinese" buyers, even if their families have lived in Australia for a century, are easier to spot and complain about.
But let's assume that all "Chinese" property investment -- just over $10 billion of it in 2012-13 -- was for residential property, which we know isn't true. How much of an impact does that have? The total value of housing finance commitments (which isn't all housing purchases anyway) was $264 billion in 2012-13, so our "Chinese" stereotype is investing less than 4%.
And even if you think 4% is too high and is placing too much pressure on prices, ask sellers in Sydney and Melbourne what they think of foreign residential buyers. Chances are they're perfectly happy to be getting higher prices.
There are legitimate grounds for concern about housing affordability, but they've got little to do foreign property buyers, whether Chinese, Canadian or any other ethnicity. They're related to land supply, planning laws, development approval processes, NIMBYism, the balance between local councils and developers financing the necessary infrastructure for new housing, and tax expenditures that encourage investment in existing housing stock. The best way to improve housing affordability -- assuming that's what you really want to do, given ultimately that will reduce the rise in value of the key asset of most voters -- is to create incentives for investment in building new housing stock.
And oddly enough, at the moment it's foreign investors who are doing that, not the rest of us.
This article first appeared on <a href="https://www.Crikey.com.au" target="_blank">Crikey</a>.
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bkeane-XQ2u7CA6bB

Is there a Chinese real estate invasion? Not according to the data, fellas

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This weekend the Western Australian property developer launched Toccata (pictured), the latest development in its four building Symphony City project in East Perth.
The new development from Finbar is located on Terrace Road in East Perth, one street back from the waterfront along the Swan River. Finbar’s Symphony City comprises so far of the newly completed Adagio and Toccata, both residential developments.
The site will also include the yet to be launched mixed-use Concerto and Harmony developments. Finbar paid $37.48 million for the former ABC site in 2008, obtaining a minor town planning amendment scheme in a joint venture with Ventrade Australia, a subsidiary of the Singaporean Chuan Hup Holdings.
Last week, the City of Perth’s Assessment Panel approved plans for the $220 million Concerto development on the site. Concerto is set to become Western Australia’s tallest apartment building upon completion, with 226 apartments over 38 levels. The ABC’s former administration building will be converted into 17 studio and one bedroom apartments as part of the development.
Toccata, which is now selling, comprises 45 three bedroom, two bathroom residences. The new residential complex includes a heated lap pool, a gymnasium and an in-house private theatre. Each of the development’s 22 floors has a maximum of two apartments, which are priced from $1,298,000.
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jrichardson-uRX5hFdKfN

Finbar launches Toccata, latest stage in Perth’s Symphony City

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Over recent months we have seen a number of high profile residential projects going to market and achieving spectacular sales results, with entire buildings or releases quickly sold out. The market is responding to strong demand driven by a major shift in demographics, local and off-shore investor appetite for property and a market that is still characterised by undersupply, in some markets chronic under-supply. However as a result of this strong demand matrix one group, the first home buyer (FHB), appears to be missing out.
This is not only apparent in many off the plan markets, but is also a stark factor for established homes and in NSW the FHB market is down to 9% of activity, and so the question is should we be doing more to help first time buyers into the market?  In particular at a time of low interest rates these buyers should be more active, but despite some limited help and concessions they are not.
Tough times for the FHB are not only confined to the Australian market, there have been similar concerns in the United Kingdom, where a new range of measures to help have recently been introduced and the big change was to extend assistance beyond the new build buyer. The UK’s so termed Help to Buy schemes now include established homes. As our government appears to be shying away from almost any sort of assistance for anyone, the UK example heads in the opposite direction with a package of assistance.
Mortgage guarantee
Here’s how it works, since October this government scheme was extended from only newly built homes to include established homes up to a value of £600,000 (that’s about A$1,003,000). In part this shows you how unrealistic the current local concessions at a ceiling price of $650,000 are. Buyers need a minimum 5% deposit, they have to borrow from a participating lender and it must be the buyer’s only property.
The government for its part guarantees repayment of the mortgage to the lender, and the scheme is expected to run for some three years. With many local suburbs (185 plus in Sydney) now looking at median prices of $1m this sort of package would be welcomed in the Sydney market.
Equity loan
This government helping hand in the UK is very different and nothing like this has been seen here, apart from a very small number of ‘one-off’ housing co-operatives around in the 1970s. Here’s how these equity loans work. They are limited to homes, new homes valued to £600,000 being purchased by first time buyers, who must have a 5% deposit. The government then kicks in 20%, and here’s the interesting point, the loan is interest free for five years. So the first time buyer then only has to find 75% of their loan.
After five years the ‘equity loan’ attracts a fee of 1.75% of the loans value, which is adjusted each year to the UK equivalent of our CPI. The 20% loan has to be paid back when you sell, but that’s 20% of the sales price, not the original loan – hence the government and the UK taxpayer share in the capital growth of the home. Here such equity loans, possibly linked to superannuation have been ‘talked’ about, but that’s it.
Sometimes I do question the rigid instance that personal superannuation is locked up away from home buyers. Yet via self-managed funds, some super can be invested in real estate, which possibly compounds the plight of some first time buyers. In the UK these equity loans have been around since April last year.
New buy assistance
This is another scheme linked to new builds and involves co-operation between private lenders and some major builders. The scheme is limited to new homes valued to a maximum of £500,000 and is open to buyers with a minimum 5% deposit.  The basic idea is to make available to these buyers more attractive loan rates, which are usually only accessible to buyers with big deposits. This is a private not government backed idea.
Shared ownership
This is another idea floated locally, but is not common. The idea is that via the participation of private developers and housing associations, the FHB buys a percentage of their new home; usually 25% and then they ‘rent’ the rest at below market rates. As more money is available by a process known as ‘staircasing’ buyers then increase the percentage of the home they are buying and over time own more of the home and pay less rent.
To be eligible the rules are that you must be a first time buyer, or someone who used to own a home, they can no longer afford to buy that home and you need to earn less that an average of £60,000 – a little more if you live in London.
More imagination needed
These few ideas look like someone applied a lot of imagination to the problems of the first home buyers. Here we have failed to do so.  Our banks make huge profits, they could afford to be a lot more innovative, and why do we not use superannuation savings more in this area? The social benefits of home ownership are obvious and the benefits of a big boost in home building construction would as is already evident, help the economy even more to move from the mining boom, so why are we not doing more?
 
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pchittenden-eLqUUC8TWW

What can we do to help out first home buyers?

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I recall over a decade ago venturing into Docklands with camera, thinking what wondrous experience could those in charge create over time - how times change.
Peddle Thorp recently released a swag of new designs on show for the first time via their website. One of which is a concept for the Docklands Aquatic Centre which sees an integrated facility located between Etihad Stadium and Victoria Harbour.
As a stand alone concept, the sinuous facility looks great although when in situ one thought sprung to mind. Does Docklands really need another large, isolated structure that has little by way of interaction with passers-by? Etihad Stadium, parts of Yarra's Edge and AXA's 750 Collins Street amongst others already take that mantle, serving as Dockland's Achilles heel.
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Image20_0.jpg" rel="gallery-all" title="Concept for the Docklands Aquatic Centre. Image © Peddle Thorp"><img alt="" class="image-article-full-width-580px" height="274" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image20_0.jpg?itok=9BG0QAiH" title="Concept for the Docklands Aquatic Centre. Image © Peddle Thorp" width="580"></a>
Naturally the question becomes, what does Docklands really need? This question is asked in respect to advancing the precinct in the eyes of the common person who for lack of interest or experience, tend to dismiss the area out of hand.
Up until recently I would have thought community facilities were a must, yet they tend to serve the wants and needs of a vocal, local population - and fair enough. The most recent planning application for Lend Lease's Victoria Harbour is a Boating and Family Services Hub, seen below. Designed by Hayball, this odd duo will meld under the same roof providing services such as consulting rooms, workstations, playgrounds, function areas and boat storage/rigging spaces.
As part of Victoria Harbour's civic precinct, two more development lots have been set aside for human services buildings. These are all great initiatives located in one pocket of Docklands but they won't generate markedly increased foot traffic through the precinct.
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Image24_1.jpg" rel="gallery-all" title="Boating and family services complex. Image © Hayball"><img alt="" class="image-article-full-width-580px" height="336" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Image24_1.jpg?itok=fOsYBser" title="Boating and family services complex. Image © Hayball" width="580"></a>
What does Docklands really need? Intimacy... pure and simple.
When so many of Docklands' buildings are large, independent and isolated, the result is a rather sterile, disconnected experience. The intimacy of the CBD's laneway network is a success because the average person is confronted with sensory overload. Sights, smells and constantly changing shop fronts stimulate and entice, coaxing the average person into an enjoyable experience. The generic aluminium-framed, street level glazed facades of Docklands simply disappoint.
It's no coincidence that NewQuay's waterfront and Lend Lease's Merchant Street area are the most frequented as the pedestrian experience is dynamic, green (Merchant Street at least) and interesting. Some may say Harbour Town Docklands pursues the model of intimacy and diversity. Yes it tries to, but it also succeeds at being cheap, isolated and dare I say gimmicky - no authenticity there.
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/100-Things-To-Do-Before-You-Die-79-Melbourne-Laneways-Featured-Image.jpg" rel="gallery-all" title="Image © Australian Traveller"><img alt="" class="image-article-full-width-580px" height="339" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/100-Things-To-Do-Before-You-Die-79-Melbourne-Laneways-Featured-Image.jpg?itok=8wuVpx89" title="Image © Australian Traveller" width="580"></a>
Can Docklands generate intimacy? Mmmmm... no.
So much has been spoken about what could and should be done to enhance the Docklands experience, nothing tangible has eventuated. The cost to retrofit massive swathes of inactive street frontage is prohibitive and I just can't help but feel Docklands will retain the feel of a large suburban office park at the foot of the CBD.
The solution - aside from demolishing a few buildings and starting over, better luck with Fishermans Bend!
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silvermb

What Docklands really needs?

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Yesterday morning, I had a coffee at Max Brenner on Margaret Street with a girl I used to work with in the mining industry, then rather fancy tapas lunch at Circular Quay with an old cricket mate turned investment banker, and, not feeling much like cooking in the evening, got a Thai takeaway to watch the rugby league last night.
A neat microcosm of Sydney, that.
My missus tells me that she also had lunch out for a friend's 40th, and bought her mate a present from Tiffany's.
Hmm, so much for this being a blog about finance: spend less than you earn and invest the difference. That little lot adds up to an expensive day.
The odd thing is, I'm pretty sure that two years ago, we'd have felt less inclined towards spending like that. But interest rates are way down. Share markets are way up. Sydney home values are booming, and so too are house prices in London. Even without drawing lines of credit, we're wealthier.
We're not the only ones. Without fail, I make the comment every weekend to my better half that in Sydney at the moment it feels like what it must have been like to live through the US golden age of consumerism in the 1950s. People have got money and by heck they are spending it!
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Incomes
A couple of observations, though.
Firstly, this has not been an income-led phenomenon. Wages are only growing at 2.6% year on year, which is historically the lowest we've seen in the history of of the wages index.
It's mostly been about the massive affordability dividend gifted to home owners since the interest rate easing cycle began in November 2011, since which time we've had the equivalent of another eight interest rate cuts, which frees up a lot of cash to spend each month.
Mortgage arrears are nowhere to be seen in Australia, tracking at just 1.37%, as compared to, say <a target="_blank" href="https://www.reuters.com/article/2014/01/20/fitch-irish-mortgage-arrears-to-peak-in-idUSFit68205820140120">nearly 20% of mortgages</a> being three months in arrears in Ireland.
Another noteworthy point is that while certain profligate people have been shopping at Tiffany's, it's largely been about eating out, restaurants, drinking and similar consumption-based recreation.
Last Tuesday, to celebrate some good news, we tried to go for a Japanese lunch and couldn't even get a seat. Granted, it was close to the large Macquarie Bank office on Shelley Street...but on a Tuesday lunchtime?!
This is Sydney at the moment, the city of takeaways, restaurants, food and drink consumption.
Repeat
Of bad and annoying habits, I have several.
I repeat myself a lot - once I get an idea in my head, I tend to keep banging on about it.
I often get prematurely excited (only with regards to ABS data, mind).
And I repeat myself a lot.
Regular readers will know that <a target="_blank" href="https://petewargent.blogspot.com.au/2013/09/will-rising-house-prices-cause-rise-in">for the past 6 months</a> I've been saying that retails trade is going strong, whatever people might be trying to argue.
It feels like I'm living in a parallel universe sometimes, since even until recently there have been articles talking about a spending recession. I know that Sydney is not Australia, but still, this is definitely not what my eyes have been telling me...
Retail print
And so to yesterday, after prints of 0.7% month on month and 0.5% month on month, yesterday the market expected a Retail Trade print of 0.4%.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/8501.0">And we got 1.2%</a>!
Bears have tried to play this down as a blip or a one-off, but there is no other realistic way to describe that than as a huge beat. And in any case, the prior month was also revised up as well to 0.7%.
The statistics now show that for six months, retail trade has been rising at an annualised pace of 9% (it's been the longest run of monthly gains since 2005-7), and the last three months we now are at double digit speed! We haven't seen anything remotely like this since the stimulus of 2009.
And where are we spending all this money? Well, all over the place, but a huge chunk of it on cafes, takeaways and restaurants:
"The seasonally adjusted estimate rose 2.0%. By industry subgroup, the trend estimate rose for Cafes, restaurants and catering services (1.7%) and Takeaway food services (0.3%). The seasonally adjusted estimate rose for Cafes, restaurants and catering services (2.7%) and Takeaway food services (0.9%)."
<img style="display: block; margin-left: auto; margin-right: auto;" width="320" height="159" src="https://www.abs.gov.au/ausstats/abs@.nsf/be4aa82cd8cf7f07ca2570d60018da27/7db5df17519aa9d4ca257276000d5433/Body/0.33F0!OpenElement&amp;FieldElemFormat=gif" alt="Graph: Cafes, restaurants and takeaway food services">
Source: ABS
Wealth effect
The wealth effect has been well known about in Britain for years. In fact, it's even a <a target="_blank" href="https://www.bankofengland.co.uk/monetarypolicy/Pages/how.aspx">part of the Monetary Policy</a> wording over there, and here's how the Bank of England describes it:
"Lower interest rates can boost the prices of assets such as shares and houses. Higher house prices enable existing home owners to extend their mortgages in order to finance higher consumption. Higher share prices raise households’ wealth and can increase their willingness to spend."
And the data from the Office National of Statistics proves it:
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://1.bp.blogspot.com/-kRwCjnMf7QE/Ujg_hdgaqPI/AAAAAAAAKRY/T91uDuNtYb4/s400/spending.jpg">
Source: Nationwide
Does the wealth effect work in Australia too? Cameron Kusher of RP Data charts the information, so draw your own conclusions (it does):
<img style="display: block; margin-left: auto; margin-right: auto;" width="400" src="https://pbs.twimg.com/media/BiAaqe9CYAEHqzH.jpg:large" height="150">
Source: RP Data
Strong data
Yesterday, we also got reported a <a target="_blank" href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5368.0">trade surplus of $1.4 billion</a>, another big beat against a forecast of only $100 million. Resources exports are booming. The economy is heating up. Add to this in the past week:
-a huge <a target="_blank" href="https://petewargent.blogspot.com.au/2014/03/wow">jump in the AIG Services Index</a>
-building <a target="_blank" href="https://petewargent.blogspot.com.au/2014/03/building-approvals-to-decade-high-as">approvals at their highest level in a decade</a>
-the <a target="_blank" href="https://petewargent.blogspot.com.au/2014/03/6-year-high">stock market hitting a six year high</a>
-Coles announced yesterday a massive <a target="_blank" href="https://www.smh.com.au/business/retail/coles-unveils-massive-11b-expansion-plan-20140305-346t1">$1.1 billion expansion plan</a>. The retail sector is set to add 109,000 jobs over the next few years.
Low interest rates are working. Futures markets increasingly believe that the next move in interest rates is up.
Make the most of low rates while it lasts, I say. Max Brenner anyone?
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<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>' was released on 1 September 2013.
                                  
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