<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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In the capital cities, two out of every three properties sold were for less than $600,000 (68.8%), while in the non-capital markets, nine out of every ten properties sold transacted for below that price point.
As values increase, I expect to see a natural bracket creep in prices.
<img src="/images/stories/2013/11/21/kusher-nov-21-one.gif" width="470" height="235" alt="kusher-nov-21-one">
We are also seeing an increase in buyer demand at the more expensive end of the market, likely driven higher by profits being made in the share market as well as more upgraders choosing now as a time to step up a notch on the property ladder.
While across the combined capital cities where most home sales over the past year occurred at a price point below $600,000 (68.8%), at the same time in 2012, 72.1% of all sales occurred at a price below $600,000. Over the past 12 months, just 5.0% of capital city properties sold for less than $200,000 compared to 4.0% in 2012.
<img src="/images/stories/2013/11/21/kusher-nov-21-two.gif" width="470" height="232" alt="kusher-nov-21-two">
Property sales across the remaining price brackets:
– $200,000 to $400,000 (29.9% currently vs. 33.6% last year)
– $400,000 to $600,000 (33.9% vs. 34.5%)
– $600,000 to $800,000 (15.8% vs. 14.2%)
– $800,000 to $1 million (6.9% vs. 6.1%)
– $1 million to $2 million (7.1% vs. 6.2%)
– Greater than $2 million (1.5% vs. 1.4%).
There was a significant decline in the proportion of homes selling at more affordable price points where over the 12 months to August 1995, 95.4% of all capital city home sales were below $400,000.
Across the major capital cities the proportion of sales ranged from 90.5% of all sales in Sydney to 98.5% of all sales in Adelaide. There was a significant decline in the proportion of these sales across each major capital city where it was most significant in Sydney with just 25.1% of all sales below $400,000.
<img src="/images/stories/2013/11/21/kusher-nov-21-three.gif" width="470" height="233" alt="kusher-nov-21-three">
In Melbourne, the figure was 36.2% followed by: Brisbane (43.7%), Adelaide (62.8%) and Perth (27.1%). In the four largest capital cities, the majority of property sales over the past year have been at a price point above $400,000.
Over the 12 months to August 1995 just 0.5% of all capital city home sales were at a price above $1 million compared to 8.6% over the most recent 12 months. As a comparison, back in August 1995, the figures for the proportion of sales in excess of $1 million across the major capitals were:
– Sydney 1.3%
– Melbourne 0.3%
– Brisbane 0.2%
– Adelaide 0.4%
– Perth 0.1%
Over the most recent 12 months, sales in excess of $1 million accounted for 14.3% of all sales in Sydney, 8.3% in Melbourne, 3.6% in Brisbane, 2.3% in Adelaide and 7.6% in Perth. The proportion of sales in excess of $1 million was at a record high across Sydney over the past year but below the peak elsewhere.
The data highlights the challenge of purchasing relatively lower priced housing within major capital cities given that the majority of sales are occurring at prices above $400,000 across most capital cities.
<img src="/images/stories/2013/11/21/kusher-nov-21-foru.gif" width="470" height="235" alt="kusher-nov-21-foru">
Clearly, buyers with a limited budget who are looking to purchase in the capital cities may need to change their search criteria and investigate more affordable markets outside of capital cities. The downside to this is that the challenge in many regional areas can be finding local employment or commuting back to the capital cities for work.
Nevertheless, for some buyers regional markets may be their only realistic option for which to enter into home ownership given the cost of housing in most capital cities.

<hr>
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
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Buying affordable housing in capital cities is getting harder and harder

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We receive lots of calls from property investors wanting to talk to us about developing. During our initial chat we discuss their goals and achievements to date with property. Usually we find that most people have at least one investment property, some have several. Some have built a house before but most haven’t. Then we discuss what property developing is like as an experience to see if they think it may suit them.
Property developing is not for everyone and I’ve found that you need to be somewhat flexible, have an open mind and be fairly non-controlling and decisive.  Without going into a Carl Jung type personality and psychological analysis, it can be hard to determine if a person is ready to embark on a development. But having entrepreneurial traits will help as things won’t always go to plan.
A good starting point is to ask yourself these questions:
<ul>
<li>
Do I understand what needs to be done?
</li>
<li>
Can I do what’s got to be done?
</li>
<li>
Do I have the necessary skills, resources, time, and team support?
</li>
<li>
Can I handle risk?
</li>
<li>
Can I create real value?
</li>
</ul>
Property Bloom has managed many small property developments over the past 12 years and what we’ve done over this time is continually refine our process – with every development comes a new learning and we use this experience to improving what we do.  By doing this we’ve been able to save time, money and reduce a lot of the risk.
We only develop in areas we know there’s good demand and growth indicators and where there are comparable recent sales references so our estimated end values can be fairly accurate before we even start. We closely track what’s happening in the locations – fundamental research is just as, if not more important as statistical research to us.
Project managing your project involves dynamic relationships between several different parties. Building established and trusted relationships takes time and we have several great builders we use and know will do their best to bring in the construction process of our projects efficiently and to the highest of standards.
Property Bloom can help mitigate risk by using our tested methods, understanding of the cities and their suburbs we develop in, sourcing development sites that meet our strict criteria and using our team of people who we know do a great job. This helps create a good first development experience for our clients.

<hr>
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
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jochivers-wq5Bp59R5a

Do you think you're ready to become a property developer?

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The experience of 2013 has taught investors, once again, how careful they need to be in their location choices.
When markets are rising, as some have this year, investors can be deceived into believing that any purchase will give them growth.
That's especially so when some media would have us believe that "the Australian property market" is white hot. The reality is that only a very narrow strip of real estate Australia has conditions remotely resembling a boom.
Most cities and regional areas have recorded moderate growth this year and others have struggled, with a few over-supplied markets in sharp decline.
The last time a property boom swept the nation, encompassing almost everywhere, was ten years ago.
These days, buyers have to be selective. A poor locational choice can result in an under-performing property surrounded by rising markets.
The latest House Price Indexes from the Australian Bureau of Statistics, describing annual growth to September, have Sydney as the only city with a double-digit increase. Melbourne and Darwin (6-7%) have had moderate growth, Brisbane has grown just 4% and Canberra, Hobart and Adelaide have stagnated.
In regional Australia, selected cities and towns have done very well this year, including a few where annual growth has topped 20% - among them Miles and Cloncurry in Queensland and Narrabri in New South Wales.
Some have had sharp corrections, due to local conditions. Notable examples are Queensland coal mining towns like Moranbah and Blackwater, and the iron ore town of Newman in Western Australia.
Moranbah demonstrates the volatility of pure mining towns: once the number one location in the nation for capital growth, it has recorded a 37% decrease in its median house price in the past 12 months, according to Australian Property Monitors figures.
Newman, which saw its median top $800,000, has recorded a median below $500,000 with its most recent sales. No doubt it will rise again when the massive Roy Hill mine cranks up construction. I couldn't sleep if I owned property in places like this.
This week I was in Central Queensland, which provides a case study in the variations that can exist across quite short distances. Gladstone, a city with high real estate demand but way too much supply, has recorded a marked decrease in prices and rents. The median house price for the suburb of Clinton is down 10% and South Gladstone has dropped 8%.
In Mackay, where new supply has coincided with a drop in demand thanks to a downsizing coal industry, the previous strong growth has halted.
Meanwhile, in unheralded Rockhampton, sales volumes have increased and prices are following. The city has more economic diversity than Gladstone and Mackay, with less reliance in resources. It's also considerably cheaper.
The message for 2014 is to choose locations carefully. These is no national property boom and while I expect Brisbane to rise and Perth to continue to be strong, most cities will deliver only moderate growth and some, like Canberra, will struggle.
 
<hr>
 Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">hotspotting.com.au</a> and you can contact him via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
 
 
 
 
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terryryder-YECXbqmri2

The message for 2014: Choose your location very carefully

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Following the demand of the first release of apartments and townhomes in the harbourfront estate Spring Cove, the second release of 17 luxury homes has been fast tracked.
Located in Manly, the 2.7-hectare estate by Denwold Group and Oakstand Property Group released the first stage of 16 two- and three-bedroom apartments and five two-storey townhomes off the plan in September.
Purchasers from the local Sydney market snapped up 19 properties, with only two town homes remaining.
Apartments were priced from $1.85 million to $3.5 million and the town homes were priced from $2.95 million to $3.2 million.
“We are thrilled with the strong interest from high end local Sydney buyers and subsequent sales results, which are testament to Spring Cove’s extraordinary locale and seamless integration with the surrounding area,” says David Cullen managing director of Oakstand Property Group
The second stage comprises of 17 luxury homes priced from $4.5 million to $6 million.
Internal areas range between 271 square metres to 391 square metres and feature under-floor heating, stone floors and miele appliances.
The <a target="_blank" href="https://springcove.com.au/overview.php">Spring Cove estate</a> is located in one of the last remaining parcels of untouched harbourfront land in Sydney.
“Manly is an iconic Sydney location with a community of family oriented beach lovers and surfers,” says Cullen.
“Locals can embrace the peace and serenity, enjoy the varied lifestyle amenities of vibrant Manly, and easily commute to the CBD on ferry - all of which are strong attributes that are driving buyers to purchase in the area.
“Spring Cove is a once in a lifetime opportunity to live in a unique and luxurious coastal community overlooking the world-renowned and highly-coveted Sydney Harbour,“ says Cullen.
The team behind Spring Cove has taken a “minimum intervention” approach to ensure the estate integrates within the ecosystem without upsetting its balance.
Spring Cove Estate was originally part of the Catholic Archbishop’s residence, which was built in 1886.
The median house price in <a target="_blank" href="/news">Manly</a> is $1.72 million, a 16.2% change in the past five years, according to RP Data.
The median apartment price in Manly is $760,000, a 17.8% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
 
<hr style="font-size: 14px;">
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
Images are artist impressions.
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ntrotman-Et3xWpamVh

Manly estate fast tracks 17 luxury homes following buyer demand

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An unfinished four-bedroom, two-storey home in New South Wales’ Bullaburra was the most affordable auction sale last weekend.
Located at <a href="https://www.realestate.com.au/property-house-nsw-bullaburra-115133903" target="_blank">373 Great Western Highway</a>, the house sold for $191,000 through First National Real Estate – Mid Mountains.
Prior to this sale, the house last sold in 2007 for $240,000, according to RP Data records.
Listing agent Gary Brown told Property Observer the auction was “very good”, with 10 registered bidders present.
The successful bidder was an investor.
“He’s a builder – he’s not going to live in it, probably going to keep it as a rental, or flip it,” Brown said.
He added that the vendor was a builder who had lost motivation and enthusiasm in finishing the project.
While the property is located on the highway, it is 400 metres from the station with a bus service out the front. Its back also faces a park, which is ideal for families.
Brown also noted that Bullaburra’s property market is easily affected by the Sydney property market, as most buyers are from Sydney.
“When Sydney goes good, we go good; when Sydney goes bad, we go bad,” he said.
Hence, the property market in Bullaburra is going well at the moment.
“In the last six months, we’ve had a $35,000 increase per property. But mind you, we’ve had nine years of very slow growth,” he said.
He added that investor activity is very strong in the area at the moment, while first homebuyers have lost interest in the area.
“We’re seeing a lot of mum and dad investors, builders, and a lot of self-managed super funds,” he said.
According to First National Mid Mountain’s estimated asking rent of $380 per week once the property is done up, the price reflects a 10.35% yield.
According to the <a href="/news">latest RP Data report</a>, the median house price in Bullaburra is $327,500, down 3.1% on last year. The average discount required to sell a house is 7.9%, while private treaty sales average 135 days on market.
The median asking rent for a house is $363 per week, while gross rental yield currently stands at 5.8%.
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dleow-BGaNPbHWyK

Unfinished home in NSW's Bullaburra fetches $191,000, reflects 10.35% yield

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One of the key characteristics of real estate is its fixed location, hence the popular quotation: "Location, location, location".
While property rights can be and are exchanged over time, the location of a property remains constant and the ongoing demand for the land constitutes a prime determinant of prevailing market price.
There is a well-known geographical economic theory in real estate circles know as the bid-rent theory, which dates back many decades - it was derived from a Ricardian theory on the most productive agricultural land.
{qtube vid:=IkXStOyKTH0}
In the simplest terms, the original theory and bid-rent curves implied that the price and demand for property was highest within the concentric rings located closest to the central business district (CBD) and decreased the further away from that central point you travelled.
Location theories hold that centrally located land is commonly worth more as retailers aim to maximise profitability and therefore will 'bid' more for the land close to the city. Land on the outer is often deemed to be more viable for industrial use and demand is lower.
Meanwhile, as different land uses compete, residents (so the theory went) were also prepared to pay the highest rent for land close to the CBD where work and entertainment was traditionally located.
Australia's major capital cities are located on water and therefore the ring would not spread uniformly outwards from the centre of the city, even if the bid rent theory held completely true.
<img src="https://2.bp.blogspot.com/-BgFCXcCwWsc/UoqaId4O7TI/AAAAAAAAK1Y/rQ9NJTbBzcM/s400/Bid+rent+curve.jpg" style="border: 1px solid #ebebeb; position: relative; padding: 5px; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" height="296" width="470">
All else being equal, therefore prices could be highest in the inner city (A) and gradually recede the further from that point you move out to the inner/middle rings suburbs (B) and the outer locations (C).
High prices in central locations also encourage a higher density of building as compared to the lower density and more sparsely populated locations further from the city's centre.
Over time, however, it should be expected that improved transport links can increase demand from higher income earners further from the centre of the city, in particular increasing demand in the well-located middle ring suburbs.
Despite the obvious limitations, is some reasonably sound logic behind the bid-rent theory. For one thing, simple geometry shows that when looking at concentric rings (or something approximating thereto), there must be far less land in the inner zone (A). Correspondingly, there is a significantly greater supply land available to be developed in the outer (C).
Article continues on the next page. Please click below.
 
<hr class="system-pagebreak">
Scarcity is artificial
I've noted before how the original grid system in Australia created an artificial land scarcity and the standardised city blocks encouraged rapid resale and speculative activity.
As you can see on the previous page, the artificial land scarcity in Australia was also exacerbated by all of the earliest cities being located beside water. If you travel away from the city in the wrong direction, you'll quickly end up in the blue stuff.
However, over time it has become clear that both in the US and in Australia, that all else is not equal when it comes to residential property. Even from in the 1880s you can find clear references in original sources to residents in Australia having a strong preference for suburban living away from the centre of the city.
Social housing has often been located in the inner city zones, for example, while wealthier households have often sought space in the suburbs.
Further, the traditional bid rent curve is distorted by other factors such as households preferring to be located near favoured schools or other recreation. More than this, most people do not work in the CBD. Some are prepared to travel great distances (and journey times) to work while other attach a great cost to this...and so on.
Michael Oxley:  "A major objective of rational land-use planning is to take account of the external cost and benefits. If land-use planning achieves its objectives the actual pattern of land use will differ from that predicted by simple market-orientated location theories".
Another artificial barrier is in place with our city land supply, which is related to zoning and land release.
And herein lies Australia's great challenge.
Take a look, for example, at the population growth in some of Sydney's leafy inner/middle ring suburbs and you will find that the population levels are remarkably static for a capital city with such a burgeoning population growth.
While new construction and renovation does occur to some extent, the total supply in certain popular suburbs is often all but fixed due to effective height restrictions on new builds.
Even on land which is zoned as 'high density', it is often difficult to build upwards due to blocking the views of other existing residential buildings. Sydney investors in particular are currently piling into this stock because they believe that the supply will be fixed with the demand increasing by the year.
The challenge for Australia is to convince people that living close the CBD is not essential, which means providing quality transport links to places of employment (our cities are not monocentric as is often argued, so this includes to transport links to and from secondary CBDs and other employment hubs), improved infrastructure and other entertainment.
There have been a great many suggestions as to how this can be achieved and affordable housing can be provided for our growing population. These include tax legislation reform among other suggestions. Ultimately, in aggregate, demand is growing, so the solution must come back to freeing up the supply side and improving infrastructure and transport links.
The alternative is us simply paying ever-higher prices for a constrained supply of stock close to the city, which appears to be the route we are presently embracing. It's decision time...

<hr>
Pete Wargent is the co-founder of <a rel="nofollow" target="_blank" href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a rel="nofollow" target="_blank" href="https://petewargent.blogspot.com/">blogger</a>.
His new book '<a rel="nofollow" target="_blank" href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>' is out now.
 
 
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The bid-rent theory: What can it tell us about the future of housing in Australia?

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A one-bedroom apartment in the Melbourne CBD was the most affordable auction sale in Melbourne last weekend.
Located at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-115195055" target="_blank">404/408 Lonsdale Street</a>, the unit sold for $210,000 through Biggin &amp; Scott Richmond.
Prior to this sale, it last sold in 2007 for $170,000, and in 1998 for $118,857, according to RP Data records.
Listing agent Claire Parkes told Property Observer the auction went “well”, with two bidders. The sale price was a pretty good result.
“It’s the highest price for a studio in that building in the last few years,” she said.
The successful bidder was an investor.
She notes that the property market in Melbourne is “bubbling along nicely” as the moment, with investors coming back on the market.
“One-bedroom apartments aren’t moving as well as larger apartments and houses. However, it seems like they are on the move. Older-style units and houses seems to be preferred over the newer styles that available, probably due to affordability and positioning,” she said. 
According to Biggin &amp; Scott’s estimated asking rent of $290 a week, the price reflects a 7.18% rental yield.
According to the latest RP Data report, the median sale price for units in Melbourne is $400,500, up by 4% on last year. The average discount required to sell a unit is 6.1%, while private treaty sales average 86 days on market.
The median asking rent for a unit is $450 per week, while gross rental yield currently stands at 5.8%.
Other one-bedroom units listed for sale in Melbourne include: <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-115431391">1002/243 Franklin Street</a> (pictured below).
{yoogallery src=[images/stories/2013/11/19/mel2]}
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Melbourne cheapie sells for $210,000, reflects 7.18% yield

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The first major residential tower to be built in Liverpool will be known as The Point, a $49 million development
Located on Gillespie Street, The Point will feature 120 apartments over 12 floors and a supermarket on the ground floor.
The Point has been architecturally designed by DWA and features interiors by Quattro.
Sam Elbanna project manager and head of CPM Realty says the team is bringing inner city glamour to Liverpool.
“People are looking for the luxury style with a budget price.
“We are working on The Point because we want to be at the forefront of innovation and be at the forefront of the change I know is going to happen,” says Elbanna.
The Point features one-, two- and three-bedroom apartments with prices from $256,000 to $375,000 and size ranges from 55 square metres to 145 square metres.
The development is expected to attract a solid mix of seasoned investors, mum and dad investors, as well as first time buyers.
The median apartment price in <a target="_blank" href="/news">Liverpool</a> is $278,500, a 37.5% change in the past five years, according to RP Data.
The median apartment rent is $325, reflecting a rental yield of 6.1%.
The Point will officially launch to the public on November 30.
Construction is scheduled to commence in February 2014 and has an expected completion date of mid-2015.
ntrotman@propertyobserver.com.au
 
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 For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
 
Images are artist impressions.
 
 
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Liverpool to welcome first major residential tower The Point

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The tipping point between caution and optimism has finally passed.
It is often a fine line, but sometime in the past six weeks it has gone from dark to light (well, lighter) when it comes to residential real estate across South-East Queensland.
Property cycle
There is an eight year property cycle – yes, the text books talk about seven years – but the Australian statistics suggest it lasts about <a target="_blank" href="https://matusikmissive.com.au/2013/03/19/why-does-property-cycle/">eight years</a>.  But what’s one more year between friends.  Usually, it is five years of good and three years of, well…not so good.
But for more than five years, South-East Queensland real estate has been subdued to say the least.  The 2008 financial knock-down began a slump that was prolonged by deluges, cyclones and domestic political uncertainty.
But now it looks like South-East Queensland has just started to enter its growth phase.  It is likely to be growth this time round, not GROWTH!  But we are going to the black side of the ledger and finally leaving the red.  About time!
Sales volumes
Sales volumes are up across South-East Queensland for the first time in years.
When looking at detached house sales for the last 12 months: 
<ul>
<li>
Sunshine Coast                   5,800 sales     (up 26% on year before)
</li>
<li>
Moreton Bay                       6,650 sales      (up 21%)
</li>
<li>
Brisbane City                      16,000 sales    (up 14%)
</li>
<li>
Redlands                               2,600 sales      (up 23%)
</li>
<li>
Gold Coast                            6,500 sales      (up 22%)
</li>
<li>
Logan                                     4,000 sales      (up 18%)
</li>
<li>
Ipswich                                  2,800 sales      (up 12%)
</li>
<li>
Lockyer Valley                   526 sales           (up 29%)
</li>
<li>
Toowoomba                         3,250 sales      (up 25%)
</li>
</ul>
When it comes to apartment sales, they are also up – 27% on the Sunshine Coast; 3% in Brisbane (apartment sales in Brisbane have been rising for two years now, with today’s volumes up 19% on 2011 figures)and up 20% on the Gold Coast on last year.
Townhouse trading is also increasing, quite quickly in fact, up 49% on the Sunshine Coast (it must be all that new Kawana infrastructure, hey <a target="_blank" href="https://matusikmissive.com.au/2012/03/07/kochie/">Kochie!</a>); up 20% in Moreton  Bay (Caboolture; Pine Rivers and Redcliffe); up 23% in Brisbane; up 27% in Redlands; 17% on the Gold Coast and 22% in Logan.  Falls in townhouse sales are still occurring in Ipswich and in Toowoomba.
Increasing prices
End prices are also starting to rise across South-East Queensland.  Price rises always lag sale volumes.
When looking at typical detached house prices for the last 12 months: 
<ul>
<li>
Sunshine Coast                   $453,000        (up 4% on year before)
</li>
<li>
Moreton Bay                        $390,000       (up 3%)
</li>
<li>
Brisbane City                       $520,000        (up 4%)
</li>
<li>
Redlands                               $455,000         (up 4%)
</li>
<li>
Gold Coast                             $490,000        (up 6%)
</li>
<li>
Logan                                      $353,000         (up 1%)
</li>
<li>
Ipswich                                   $298,000        (up 2%)
</li>
<li>
Lockyer Valley                    $290,000        (up 4%)
</li>
<li>
Toowoomba                          $327,000        (up 10%)
</li>
</ul>
A similar trend can be seen for apartment and townhouse sales across the south east corner of the state.
The entry-level market - up to $500,000 (oh, and how it is so easy to dismiss half a million bucks these days) – is quite strong and occupies a large part of the price bell curve.  There is still a lot of property priced under $250,000 across Queensland, and even in the more populated and relatively expensive South-East.
Sydney leads
Traditionally, South-East Queensland lags the southern markets, following behind Sydney by about 18 months and when their market is moving, then twelve months behind Melbourne/Victoria.
Investors (and some residents) are forced out of the southern markets.  I read that Sydney’s current median price is $690,000 and BIS Shrapnel are predicting it to exceed $800,000 within the next three years.
I recently suggested at a housing conference presentation that the Brisbane (region) median detached house price could reach something like $530,000 over a similar time frame (mid 2016).  Many in the room smirked, some even guffawed.   Today, the middle price across the Brisbane region is about $450,000.  So $25,000 or a 5% gain per annum over the next three years, doesn’t seem that unrealistic to me.
More jobs
Anyway, that is really academic for now.  In order for South-East Queensland to experience such price growth, more jobs need to be created in Queensland.  Whilst investors will follow potential, interstate migrants move because of work first; cheaper housing second and a distant third, because of our warmer climate.
Whilst mining is holding up somewhat better than many expected (for now) and gas, tourism (somewhat) and agribusiness is helping Queensland’s economy, new housing construction, as we pointed out last week, is the missing ingredient.
Easier housing construction means more jobs.  More jobs mean more interstate migrants, which will lead to more sales and higher end prices.
The South-East Queensland market during 2014 depends on one thing - new jobs.

<hr>
Michael Matusik is the founder of <a style="font-size: 14px;" href="https://www.matusik.com.au/" target="_blank" rel="nofollow">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.
Read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">Michael’s Blog</a> or follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
 
 
 
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michaelmatusik-49YzLvdmNv

Back in the black: Things are finally looking up for South-East Queensland

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Last year ABC’s Q&amp;A ran a one-hour special with then Prime-Minister, Julia Gillard.  
At the time, Labor’s popularity was at an all time low, with the latest Galaxy poll showing a primary vote of 31%, compared to the Coalition's 49%.  
The Q&amp;A special followed a 12 month gap since Julia Gillard had faced the live audience in which voters – including those in the land of social media - can directly grill Australia’s politicians and business leaders about issues close to the heart.  
Inevitably, Julia Gillard was questioned about the growing cost of housing – significantly negative gearing – which as I explained <a target="_blank" href="https://catherinecashmore.wordpress.com/2013/10/22/a-few-thoughts-on-negative-gearing-the-contradictory-policy-which-benefits-investors-whilst-negatively-impacting-renters/">here</a>, has assisted in distorting the preferences of our buying market, not aiding new supply, but instead boosting the competition and subsequently price of second hand stock.  
Audience member Robyn Tracey asked - “Has Australia lost the will for reform of our taxation system? Has a flat rate of tax been considered to replace our present complicated system? Why hasn’t negative gearing been abolished despite recommendations to do so by the Henry Tax Review and by leading economists?”
 
Gillard’s answer was predictable;  
"For negative gearing, we didn't agree with the Henry tax review. We ruled that out. We think that, you know, an abolition of negative gearing would cause distortions to the property market that we didn't want to see…"  
Tony Jones then questioned why GST had not been included in the Henry tax review, to which Ms Gillard commented:  
"GST, at the end of the day, is a regressive tax and so we are looking for tax reform in other areas."
 
Well, you can’t get a much more regressive tax than negative gearing, which disproportionately benefits high-income earners, over those on a lower wage.  
Close to <a target="_blank" href="https://www.businessspectator.com.au/article/2013/9/6/economy/big-budget-bucks-down-property-drainpipe">40%</a> of households in the top income quintile access negative gearing and benefit from a tax concession of more than $70 per week.  
This is compared to less than 5% in the bottom quintile who benefit no more than $10 per week, and of course, there is also limited ability to negatively gear in a self managed super fund.  
The continued Labor stance against negative gearing is not out of step with the Coalition. Whilst still in opposition, Tony Abbot dismissed claims that the Liberals would include negative gearing as part of their tax review, and any rumour suggesting otherwise, <a target="_parent" href="https://www.liberal.org.au/latest-news/2013/05/21/tony-abbott-transcript-joint-doorstop-interview-bundamba-qld">“had no substance whatsoever.” </a> Not surprisingly, it left many advocates across the real estate and finance sector breathing a collective sigh of relief.  
Therefore, when last Monday’s Q&amp;A subtitled <a target="_blank" href="https://www.abc.net.au/tv/qanda/txt/s3873461.htm">‘Open for business'</a> aired, featuring the highly acclaimed founder of Aussie Home Loans John Symond - a company which profits significantly from negatively geared investors – it was some surprise to hear him advocating for tax reform and a moderation of the current rules.  
In reply to audience member Leanne Murphy – who asked:  
“Do you think negative gearing should be abolished, or at least quarantined, only available for new dwellings, thus giving low-income earners the opportunity to get into the property market?”
 
Mr Symond answered:  
“Absolutely. I come back to overhauling the tax system. Negative gearing wasn't designed for people who can afford to go and buy $1 million, $2 million, $3 million houses or apartments for negative gearing to offset the bulk of their interest payment off their tax. So negative gearing does need to be looked at in the tax system because I don't think it is fair at the moment. I think it leans very heavily to the high income earners and that needs to be brought into line.”
 
His comments were followed in a similar vein from the other panellists who agreed something needs to be done, but swiftly pushed the momentum back under the carpet with the excuse we hear all too often;  
“I believe, is an absolute political hot potato and no government is going to touch it,” said Carol Schwartz.  
Clearly from Abbot’s comment above, in the present context this is correct. However, meanwhile it’s worth asking if the landscape is changing?  
To hear business leaders finally admit we’re heading down the road which is further dividing the gap between the haves and have nots, is clearly mirrored across the social media network as a new generation of voters increasingly question the legacy they’ve been left with.  
Many other countries have instilled the concept of home ownership being part of the national dream and structured their tax policies accordingly, favouring vendor over renter.  Banks have happily fed our owner-occupier ambitions, resulting in a disproportionate amount of credit pumped into the residential market - pushing up our private debt to disposable income ratio to a peaky 150%, and as a consequence over the 2000s established median house prices in Australia have more than doubled.  
Generations have been bought up with the concept that, a mortgage, in a world full of spending temptations, is a forced savings account for retirement.  
Certainly, owning your own home outright by the time you reach 65 is advantageous; no one wants to be servicing a loan or rental payments on a restricted income stream.  
However, it’s an interesting concept, to have a forced savings account which requires the investor to pay a hefty sum of interest rather than receive it - as would be the case with other assets, where additional interest is collected.  
Not only is the house seen as a savings account, but also one against which buyers can leverage, enabling the purchase of a second home – usually by way of an interest only loan.  
So imbedded is this concept that even the most committed owner-occupiers I assist, searching for what they hope will be their last home in an environment where we’re all trying to squirrel away funds for retirement, are understandably very concentrated on the equity their purchase can achieve and how they can best aid their children along the way.  
In Australia our homes have been conceived as investments because they ‘always’ increase in value.  At least, this has been the case for a good number of years, benefitting the property lottery winners who got in early enough to take advantage of healthy capital gains.  
Unfortunately, the homes we’ve built to offset house price inflation, have done quite the reverse.  Heavily burdened with tax overlays, located in areas where zoning restrictions have encouraged land banking by larger developers, thereby reducing competition from smaller home builders, has done more to harm the construction industry, than aid.
With the median price for a house and land package in fringe suburbs starting around $400,000, there’s little to encourage families into the infrastructure sparse landscapes, yet this is where we expect homebuyers to migrate if they want to purchase a detached dwelling for less than capital city medians.  
With the only other option being a smallish apartment closer to town, for which the first home buyer demographic usually have to pitch against an investor, yet must purchase wisely if they want to leverage enough equity for the necessary upgrade after a few years of residency. Well, quite honestly, it’s become a fools game, which I suggest is not unlike musical chairs – everyone competing for the same second hand stock – not prepared to accept a lesser quality alternative.  
As such, first home buyers now enter the market as ‘first time investors’ – usually living off their parent’s goodwill in order to do so – and hoping to achieve similar capital gains.  
Rising house prices are part of an environment that has been manipulated by successive governments because – as <a target="_blank" href="https://www.goldmansachs.com/our-thinking/view-from/a-view-from-australia-2013/toohey-bio.pdf">Tim Toohey</a> recently put it in a Goldman Sach’s report:  
“The wealth effect – i.e. increases in house prices/equity markets driving higher consumer spending – has been painted as the messiah for the domestic cyclical space.”  
Supposedly, when our house prices rise, it feels like Christmas for the economy, and thus, out come the credit cards boosting retail spending, and numerous other offshoots.  
However, as Toohey goes on to point out;  
‘The proportion of the population 60 plus and entering the asset drawdown phase of their life is now the dominant demographic force, contributing 50% of the population growth, and this is projected to rise to 60% by 2020.’
 
Therefore, as suggested with house price appreciation the “future for consumption growth is unlikely to reflect the past. “
 
It’s against this backdrop that a friend of mine was contacted a few weeks ago by a company posing as a market research group, who with clever questioning, managed to convince him to allow an ‘advisor’ to come to his home and demonstrate how he could reduce his income tax to ‘almost zero’.  
The sales representative proceeded to show lots of – (to quote) – ‘scary’ figures indicating how he would not have enough money upon which to retire, and then demonstrating how negative gearing into property - which the company would ‘choose’ on his behalf, would reverse this, to enable him to achieve ‘retirement riches’.  
Backed up with an extensive list of client testimonials, the service was of course offered free of charge – the rep explaining that he received payment from referrals to ‘partners’ such as financial advisors.  
Clearly in an era of ‘worried money,’ it’s not hard to conceive how inexperienced investors might be tempted to trust the advice of shoddy operators - in response, ASIC needs to look at the industry as a whole when it comes to unethical spruiking and not super funds in isolation.  
Notwithstanding, the information most buyers read in investment magazines and websites, is provided anecdotally by industry advocates, often bordering on financial advice, yet with no regulation overseeing the quality of the content – it’s left to ‘self regulation’ – reader beware.
 
Changing a well-weathered mindset is not going to be easy without political reform.  However, I really do ponder at the strength of social media in an age where younger generations are increasing asking questions and engaging in conversations, which in previous times would have been limited in their scope.
Questions such as, whether rising property prices are not so much the golden egg of economic growth, but rather a burden weighing on the progressive future of younger generations.  
Media headlines across mainstream outlets have suggested the need for a national conversation on housing affordability, however in reality the talking has been done.  
We’ve had the Henry Tax review and additionally numerous independent academic reports published, outlining exactly how to ease established house prices whist boosting effective supply. In truth, it’s action that’s needed, not conversation.  
Taxation of property should be progressive, discouraging practices such as land banking, and using property merely as a speculative investment. A broad based land value tax would assist in this respect.  
Additionally, renting should be accepted as more than a short term option with practices in other countries – such I pointed out <a target="_blank" href="https://www.macrobusiness.com.au/2013/11/what-australia-can-learn-from-germanys-rental-system/">last week</a> - forming the basis for investigation as to how we can assist our own tenants.  
However, the most important change we can effect is to take away the headwinds affecting supply of family accommodation - a subject which has been covered in depth by <a target="_blank" href="https://www.macrobusiness.com.au/2013/09/australia-must-look-to-texas-on-housing-policy/">Leith Van Onselen.</a>  
Wherever you sit in relation to this subject, it can’t be denied the environment is changing, and like it or not, a new era of disillusioned voters will eventually have the upper hand.  


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Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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