<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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There’s been so much chatter about prices lately that everyone has forgotten about rentals.   Fortunately, the publication of Australian Property Monitors’ quarterly rental report has given the real estate media something new to talk about – but, given that the results for Sydney (centre of the universe) and Melbourne (deputy centre of the universe) are quite muted, it’s likely that media won’t discuss it at all.   Can you have a rental bubble? No? Then it’s hardly worth bothering with, is it?   The message about big city rentals in recent times is that Perth and Darwin have had massive increases for both houses and apartments, while the other six capital cities have had no growth at all to speak of.   The rental report for the September quarter has continued this pattern, except that the level of growth in Darwin and Perth has moderated considerably.   According to APM’s report, the median house rent for Perth has dropped in the latest quarter, so the annual rise has come back to 6.7%. There has also been a quarterly decline in the median rent for apartments, so the annual rise is now 10.5%. Those 12-month increases still sound substantial, but are well down on the figures from other periods over the past year or so.   It’s similar with Darwin. The median apartment rent is 7.7% up on a year ago, but it’s not so long ago that the annual rise was above 20%. And the median house rent is now down 2.9% in annual terms.   But Darwin still has the highest median rents in capital city Australia, by a considerable margin - $680 a week for houses and $560 a week for apartments. You have to go to mining towns to find bigger weekly rents that Darwin’s.   Rents haven’t done much in Sydney and Melbourne. You would expect Sydney rents to be rising strongly, given constant media talk about a shortage of dwellings. But there has been no change at all in the median house rent in annual terms and only a moderate (4.3%) rise in the median unit rent.   How can that be, when the market is “white hot” and there’s a chronic housing shortage crisis? The answer is that the shortage is a myth and the market overall is lukewarm only (looking across the whole city, rather than media’s narrow focus on the auction frenzy suburbs).   In Melbourne median rents for both houses and units have risen less than 3% in annual terms. Brisbane’s median house rent is up 3.9% and the median unit rent only 1.4% and Adelaide in even more subdued.   Rents are down quite markedly in Canberra, according to APM’s figures, which is unsurprising in a city where the Abbott axe hangs above so much bureaucratic heads (and there’s an over-supply of apartments).   Equally unsurprising is the decline in Hobart, which is capital of Australia’s economic basket case.   Overall, it’s a pretty mediocre result for residential rents. APM’s senior economist Andrew Wilson argues that rental growth is subdued because more people are buying – but, given the low activity among first home buyers, I’m not sure that this is the reason.   I think rental growth has continued to be muted because the much-trumpeted housing shortage exists only in the minds of the boffins at the Housing Industry Association and those who believe their propaganda.
<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 Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
  
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terryryder-YECXbqmri2

Lukewarm rental figures reveal the truth behind so-called dwelling shortage crisis: Terry Ryder 

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Knee-jerk reporting was always going to be an inevitable impact of more regular property data. Note how quarterly price data now appears to be cooling, except in Sydney.
Mildly amusing that commentators are now sanctimoniously warning buyers about paying too much in Sydney and Melbourne (well, this is obviously true in any market) - never mind that in 2012 they <a target="_blank" href="https://www.propertyobserver.com.au/south-australia/adelaide-mistakenly-overlooked-by-investors-as-projects-get-under-way-terry-ryder/2012041154211">were still continuing to advise investors to buy in Adelaide</a> instead of Sydney.
All the while, I posted my opinion that Sydney's inner/middle ring suburbs would smash records - and they will - Sydney median prices are already up by 13% in this cycle and are heading north by the day.
Adelaide dwelling price 'growth' is still in negative territory over the past year and comfortably below its previous peaks.
I'm not permanently down on Adelaide and despite its weak population growth I am prepared to change my view if the state unemployment rate falls well below 7%.
But not until there is clear evidence of sustained jobs growth in the state - currently jobs growth year on year is negative as compared to NSW where jobs growth has been very strong.
Low interest rates may gradually begin to see employment growth return but it has been a painfully slow five years for Adelaide.
<img style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" width="400" src="https://www.rba.gov.au/publications/smp/2013/aug/images/graph-3.20.gif" height="328" alt="Graph 3.20: Employment by State">
How long before the mainstream media reporting shifts to: "It's a Sydney property boom only, folks"?
Two weeks, I reckon.
<a style="color: #253fff; margin-left: 1em; margin-right: 1em;" imageanchor="1" href="https://1.bp.blogspot.com/-1jni6iqha_s/UlOhY1Qtd3I/AAAAAAAAKdc/XgQWkZeBi8k/s1600/RPD.jpg"><img style="border: 1px solid #ebebeb; position: relative; padding: 5px; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" width="400" src="https://1.bp.blogspot.com/-1jni6iqha_s/UlOhY1Qtd3I/AAAAAAAAKdc/XgQWkZeBi8k/s400/RPD.jpg" height="247" border="0"></a>
Source: RP Data
 
<hr>
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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pwargent-M4siyDbqQY

Aussie property recovery appears to be a Sydney-only affair: Pete Wargent

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A prime retail shop in the heart of Melbourne’s CBD has been listed for sale with price expectations north of $3.1million.
Fashion retailer Bell &amp; Barnett currently leases the shop, at 261 Little Collins Street, and pays an annual rent of $280,800 plus GST.
The shop is about 114 square metres in size and is already said to be attracting strong interest from investors and owner-occupiers. The shop goes under the hammer on 18 October. It is being marketed through CBRE Melbourne agents Josh Rutman, Ed Wright and Mark Wizel.
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kjiminez-eaYKfU7qd2

Prime Little Collins Street retail shop to go under the hammer

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With the recent news that the largest of the three office towers planned for Barangaroo – T1 – will be going ahead, researchers and analysts will be forecasting its likely effect on the vacancy rate.


Many, myself included, had quietly believed that T1 would in fact give way to a second residential tower.  Why? Because I had assumed that market forces would win the day, but it seems we were wrong.


The cyclical headwinds facing the office market have been blowing for a while.  The resources boom is fading and the global growth outlook outside of Asia is weak, even after printing trillions of dollars.  As a result, businesses have been reducing overheads and expensive office space. Of course, natural employment growth will create demand, but we are already a service based economy and the past 10 years have seen the CBD office workforce grow by only 0.8% per annum. 


On the other hand, the structural headwinds, are gaining momentum.  They include activity based workplaces, which are more about cutting costs than cutting edge working environments; so will likely gain in popularity.  Then there is teleworking and hot desking; if people working from home one day per week means companies can rent 20% less space, we can expect to see more of it.  Worst of all for landlords, as they require zero CBD office space, are automation and off-shoring.  Why pay someone in Australia to do something that can be done by a computer or by someone in Bangalore or Manila?


So, in this challenging environment the last thing the office market needs is even more supply.  Already, major projects to be completed in the next three years include:  8 Chifley Square (19,000 square metres), 5 Martin Place (30,000 square metres), 20 Martin Place (18,000 square metres), 48 Martin Place (20,000 square metres), Central park (26,000 square metres), 200 George Street (38,000 square metres) and T2 &amp; T3 (165,000 square metres); not to mention several others around 10,000 square metres.


Of course, many of these buildings are, and will be, significantly pre-committed, but it’s not the new space that is of most concern.  The bigger problem is the backfill space that the likes of Macquarie, Ernst &amp; Young and Westpac are leaving behind.  Literally a bigger problem because the areas these tenants are vacating are larger than the areas they are moving into.  


If the existing market was tight, the new supply would be less of an issue, but the vacancy rate for premium and A-grade space in the City Core precinct, the largest and most prestigious in Australia, is currently 14.3%.  With lease incentives already at 30%+ or more, you have to wonder at what price it will get filled and whether it makes economic sense to build another 100,000 sqaure metres of what is already underway.


Of course, the older stock will eventually be recycled into residential uses, but wouldn’t it just make more sense to meet the demand where it exists now, or just hold off for another few years?  If not, our revised forecast suggests the vacancy rate could reach 15% in 2017.
 
<hr>
 Ross Horsley is research manager with <a href="https://www.landmarkwhite.com.au/" target="_blank">LandMark White</a>.
 
 

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rhorsley-KtWUGNWwLG

New developments threatens to create oversupply in Sydney CBD office market: Ross Horsley

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Apologies to Fry, but we just couldn't resist taking a bite at this topic. If you didn't read The Age on Saturday (5/10/13), you should peruse <a href="http://www.theage.com.au/comment/apartment-towers-are-killing-the-worlds-most-livable-city-20131004-2uzs8">this piece</a> titled 'Apartment towers are killing the world's most livable city.' Call it part sensationalism, part truth, part fluff... but mostly ridiculous!

Upon reading the piece, imagine now the words "apartment towers" in the headline were actually sprawl-belt development or urban fringe development. Sorry, I forgot demonising the suburban establishment is taboo in certain circles and apartment living is the devil incarnate. Quite seriously, apartment living can have its negative aspects, some of which have been touched on within The Age Associate Editor's piece, yet what viable alternative is there? Have the masses live on Melbourne's fringes with its intrinsic lack of urban amenity, public transport, long distance to jobs, inadequate services and mounting social issues? It's all good and well to pot apartment living as part of an ongoing agenda but in doing so provide a viable, efficient and responsible alternative otherwise, well, its just a load of repetitive crap!

Notwithstanding the claim "world's most liveable city" is a load of gumpf bestowed upon us by an offshore economics magazine and perpetuated by local mainstream media and the odd politician looking for a soundbite, it was a curious headline &amp; opinion piece overall given the historic move to have the City of Melbourne, City of Port Phillip and Spring Street cooperate, and (what we can only imagine) sing kumbaya, then produce and release the Fishermans Bend draft vision (<a href="http://www.theage.com.au/victoria/train-stations-treelined-boulevards-mooted-for-fishermans-bend-20130916-2ttux">reported by The Age</a> as well). A draft vision with apartment living at its heart.

The two previously mentioned councils are the stakeholders feeling the most pressure regarding Fishermans Bend where the Capital City Zone overlay sees planning applications automatically lodged at 1 Spring Street rather than Council House 2 or the St. Kilda Town Hall. For the best part of a decade the near bipolar stance in terms of ethos and development of these two councils and Spring Street has been a major source of friction and until now their discontent and bickering has been played out through the media.

These three entities, for all intents and purposes, were happy to put their logos on the same <a href="http://www.portphillip.vic.gov.au/Draft_Vision.pdf">Fishermans Bend Draft vision document</a> where the so-called liveable city-killing apartment towers are very much a part of the draft vision within the Urban Renewal Area - surely all three can't be wrong?

<figure><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/fishbend_draft_cover.jpg" rel="gallery-all" title="Logos from the first page of the Fishermans Bend Draft Vision document"><img alt="" class="image-article-full-width-580px" height="92" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/fishbend_draft_cover.jpg?itok=kxNg2m2G" title="Logos from the first page of the Fishermans Bend Draft Vision document" width="580"></a>

<figcaption>Logos from the first page of the Fishermans Bend Draft Vision document</figcaption></figure><figure><img alt="Proposed general height limits throughout Fishermans Bend" src="/sites/urbanmelbourne.info/files/pictures/article-images/height_limits.png" style="width: 700px; height: 677px;"><figcaption>Proposed general height limits throughout Fishermans Bend</figcaption></figure>So the question must be asked, is Fishermans Bend now dead in the water as according to The Age's piece where 8, 18 and "Towers above mid-rise podiums" are the type of development which are killing our so-called liveable city?

As for the assertion of placing a moratorium on all current planning applications, well yes lets put the brakes on a positive, jobs producing aspect of the local economy which by the by is now a driver of foreign investment into Melbourne. Ultimately opinion pieces are just that, but thankfully The Age also <a href="http://www.theage.com.au/victoria/developers-oppose-push-for-higher-design-standards-20131004-2uzuv#ixzz2gnfZrXAT">ran a piece</a> really worth reading on the same day - the topic of developer resistance to mandating design standards for new development - an issue far more relevant, which strikes at the crux of apartment living and what should be the housing medium's continual positive progression.

For those seeking a far more learned response to The Age piece, we highly recommend reading Alan Davies <a href="http://blogs.crikey.com.au/theurbanist/2013/10/08/are-apartment-towers-bad-for-our-cities/">The Urbanist</a> blog entry from yesterday.
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silvermb

Fishermans Bend: will apartment towers kill it?

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I’ve seen many articles over the past few weeks advising people about how to buy in a “hot” market. 
   Amid all the “expert” commentary the only sensible advice I’ve read came from Perth property professional Gavin Hegney, who said: “My first thought is that buyers should not be aiming to buy in a hot market.”   Hegney’s thoughts mirror my own advice to investors on how to buy in a boom market: “Don’t.”   It’s really that simple. The only explanation for investors buying in a sharply rising market is the herd mentality, otherwise known as stupidity.   Here’s how it is for property investors at the moment. Australian has many different property markets. Many of them are rising at the moment. Very few of them are “hot”. Only a few have anything ressembling boom conditions and the jury is still out on whether these areas are genuine boom markets.   Investors have the whole of Australia from which to choose. Only a fool would choose to buy in one of the few markets where competition is extremely high and buyers are paying silly prices to secure properties.   Warren Buffett, arguably the most successful investor ever to have lived on planet Earth, preaches the simple philosophy that you buy when others are selling and sell when others are buying. It’s the opposite of the herd mentality that drives most Australian property buyers.   Buffett also said: “Profit from folly, rather than participate in it.”   The greatest folly current occurring in Australian real estate is Sydney’s auction frenzy. People participating in it are, by Buffet’s definition, fools. They are people with more money than sense. Buy in haste and repent at leisure is the unwitting catchcry of such people.   If you don’t have to buy in these areas but are buying anyway, you’re part of the folly.   Possibly there are home buyers who need to buy now and have little choice but to compete with other frenzied punters.   But investors have no such excuse. They have no pressing need to buy in these locations. The whole of Australia is their market and those with common sense and a healthy research ethic will be looking elsewhere.   There are hundreds of locations around the nation where investors can buy well with good prospects for future growth.   One of real estate’s oldest cliches is that you make your money when you buy, not when you sell. This means you buy at a good price, when the market is down.   You cannot buy well in some of the Sydney markets where people are paying way above the reserve price at auction or making a high offer before auction to secure a property.   This sort of folly has happened before in Sydney and Melbourne. It’s always the same scenario. Auctions get on a roll in the millionaire suburbs, people afraid of missing out pile in and buy at inflated prices and, after five or six months of frenzy, it all fizzles out.   Then prices fall. Often the decline in values is as much as the previous rapid rise.   Don’t be part of the folly. Look elsewhere. There are many hundreds of better options for well-researched investors from Darwin in Adelaide and from Perth to Townsville.

<hr>
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow" style="font-size: 14px;">hotspotting.com.au</a> and you can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
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My advice for buying in a "hot" market? Don't: Terry Ryder

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Over the last few months and in particular over the weeks since the federal election there has been a great deal of chatter about a so-called residential property bubble.
This has been fueled by a few factors that have, to my view, been overly magnified. Yes we have seen some good, even record auction results, strong demand for new mainly off-the-plan projects and land releases, and improving house prices led mainly by Sydney and Perth. But these do not alone create a ‘bubble’.
There are much deeper aspects of the market that go well beyond what has been suggested as a possibly reckless rush of buyers on the back of low interest rates and still in some areas a well acknowledged lack of immediate supply. Both of these are ongoing influences but I do not see evidence of recklessness.
What may at first appear surprising is how quickly the market has become so active. Currently, there is strong demand and buyers are very lively, and this has caught some sectors by surprise. I stress ‘surprise’ with no foundation for any sort of alarm, in fact the activity should be welcome.
Only six months ago there were alarm bells ringing about the continued flatness in the housing market and the lag in construction. Now with strong buyer interest there will be an incentive for more building and development at a time when the economy is adjusting from a slowdown of the mining boom.
Location remains key
As always demographics are playing a big part in the market and the appeal of inner city living is currently on an upward trend that has been evident now for at least a decade. The only difference is that it is no longer a trend but an everyday reality that we have yet to satisfy. You only have to look at the pressures on many of Sydney’s inner city schools as they try to accommodate an increase of 20-25% in class enrolments. Although we do need to ask: "didn’t anyone see this coming?"
There has also been a big increase in single person households and this is creating an additional layer of demand, as people are anxious to live near services and facilities. But it is not only the inner city where demand is strong, in Sydney’s south-west and north-west new housing stock is in demand and here the promise of improved infrastructure and a strong lifestyle offering are helping to drive demand.
Interest rates
The current low interest rates may well not last forever, but in the current market I believe that low rates are acting as a comfort factor, making loans more affordable. But I also suggest that as first time buyers remain conservative and investors are still looking for a solid return, again there is no run away mentality among borrowers, who remain cautious. Still the gap between today’s interest rates and what be seen as a high number between 7-8% can well be seen as an opportunity for many buyers, and if rates rise they are capable of managing that.
Along with interest rates, recent falls in the Aussie dollar have helped to fuel an already strong inflow of buyers from Asia and in particular China, and this is a reality of our market that is not going to change. Offshore buyers will always be attracted to Australian property; they are attracted by the lifestyle here that can be measured in simple terms of space, a good natural environment and freedom to move.
By 2014, Indonesia and China are expected to have more millionaires than the USA and even if only a small fraction of these wealthy buyers look to Australia to buy a home or investment then that demand will be long-term, and in many respects is nothing new.
A faster pace backed-up by the fundamentals
I think that we need to keep in mind that some markets have been tough over the past 12 months and the long lead up to the federal election may have depressed activity. Also some properties are being taken to market for a second go as confidence builds, however given the size of our market the sales inventory is still modest.
We still have a long-term shortage of housing, and as developers meet market expectations with quality, and as rents stay high and vacancy rates are low for investors the market is attractive, so they will act. Owner occupiers are attracted by lower rates, but weaker employment may well temper demand, but these same buyers realize that in five years’ time today’s values will not prevail and today’s prices will look attractive as major centres attract more residents.
Developers in particular need to concentrate on the fundamentals, and not take the market for granted, sticking to the best locations and delivering quality, and while this might now all be at a much faster pace, that does not create a bubble; it creates a strong market that will remain attractive for both local and offshore buyers not forgetting our continued population growth.
The improved market activity of the last few months needs to take all of these factors into consideration and not simply see stronger sales as somehow being over-inflated.

<hr>
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
 
 
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pchittenden-eLqUUC8TWW

No bubble, fundamentals mean that market remains attractive for buyers: Peter Chittenden

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Despite the recent gains in dwelling values being fragmented across the states, it’s always interesting to chart the reaction when making the assertion that the rapid run up in values, occurring in areas such as Sydney and to some extent Melbourne, have been stimulated by little more than an investor lead rush to get in quick. Capital gains are visibly overshooting the mark, and cheap money coupled with a honeymoon period of post-election confidence, is forcing buyers to seek out any area of opportunity that can provide a better return on their dollar.  
However, for those who work in the commission driven residential sector and derive their living from Australia’s $600 billion property industry, any negative sentiment indicating potential instability is strictly taboo.  
Indeed, it’s easy times for agencies when the market is booming – investors come knocking buoyed on by recent gains, sales agents don't have to chase buyers in order to achieve the needed competition to exceed their vendor’s reserve, and as we start to witness a period of accelerated growth, the self perpetuating circle of certainty that keeps the ball of optimism rolling, is proof enough for all imagining there can be no end to the festivities.  
Those who work in the industry understand that it’s this type of confidence that underpins investor activity; therefore if prices are dropping opportunity knocks, and if they are rising it’s merely proof that markets always recover and values trend upwards. 
In other words, there’s never a bad time to buy property – to insinuate as such, would result in a personal conflict of interest.  
I received an auto-generated email this week from one commentator suggesting we have become a nation of so-called experts – people with opinions, but very little expertise.  
According to the theory set forth in the email, the criteria for expertise in our property market to enable impartial advice, is simply someone that walks the talk – a "successful property investor" with a large portfolio of dwellings.  
However, for those that entered the property market at the beginning of the lending boom, and benefitted from our golden decades of growth – becoming a successful property investor, wasn’t incredibly hard.  
The rise of dual income households, intermittent buyer grants, tax incentives aimed at investors, stronger wage growth buoyed on by a robust economy, poor planning for population growth (with both the monopoly and restriction of land stagnating effective and affordable supply), a propensity toward high loan to value ratios in the lead up to the GFC and a culture that veers disproportionately toward property investment as a vehicle for wealth creation ensured the baby boomer generations, who hold roughly 50% of Australia’s housing stock, didn’t need much more than a basic foundation of market knowledge to reap the resulting capital gains.  
Having never lived through a real estate crash, boomers matured in a market where the industry driven mantra dictated that nominal values double every seven-10 years or always goes up 7-10% per annum, as the wax and wane of a property cycle progresses.  
Some of the various stimulators that lead to these gains are not to be repeated, and whilst there will always be periods of inflation and deflation in any modern market economy, it’s important to have a good understanding of the dynamics fuelling those gains and the longevity of such, or you risk falling into the trap of thinking the good times will ultimately always outweigh the bad.  
Whilst the real estate profession differs little from any other sales industry, in so much that it has to maintain a positive narrative, it also promotes Australia’s largest domestic asset class with an aggregated value of over $4 trillion pinned to a banking sector, which has the highest exposure to residential mortgages in the world.  
Pumping the line that it’s always a good time to buy, with inflated capital prices simply an indicator of a “healthy economy”, can potentially hold serious consequences – If housing is going to be used as an investment vehicle, the advice being given requires strict regulation.  
As it stands, Sydney’s buying market is almost a 50/50 equal split between investors and upgraders, with first home buyers holding less than a 5 % share.  
Whether it is negative gearing, land banking or borrowing to purchase in a self-managed super fund, all such strategies are solely reliant on capital growth to compensate for the growing gap between price and yield. Therefore demand is overwhelmingly concentrated on a reducing pool of established property and the recent acceleration in prices represent this.  
The so-called fundamentals presented that are intended to calm any negative spirits into believing our economy faces no immediate danger, are startling similar to those projected in other countries immediately prior to the financial crisis.  
Whilst there’s no doubt in Australia we have a shortage of affordable and effective supply, to assume this alone will always generate nominal price gains, or even place a firm floor under current valuations, concludes we can keep playing a game of musical chairs with second hand stock, against a backdrop of rising unemployment, weak wage growth, an aging population and stubbornly high levels of personal debt.  
I’m referring in particular to arguments such as demand outstripping supply, population growth, a stable economy, and other indicators such as housing affordability measures. These maintain that capital increases aren’t negatively affecting first home buyers, because the proportion of income needed to service the loan is balanced in a low interest rate environment. And whilst I’m not suggesting we face an imminent crash, one thing all crises have in common is that the majority never see them coming.  
Ireland is one such example. In the lead up to the GFC, which wiped over 50% of the value off properties in markets such as Dublin, all available economic indicators were firmly pointed toward the positive.  
Since the middle of the 1990s, growth in real disposable income per head had been stronger than any other industrial country.  Residential demand was fuelled principally from robust net migration, coupled with trending fall in household size.  
By 2007, 75% of the population owned outright or were renting, and the proportion of buy to let investors had increased to 27%.  
The overwhelming mantra from the real estate sector fervently claimed a property crash was impossible. Strong GDP growth and low unemployment figures supported a feeling that the environment was protected, and average mortgage payments were estimated to be no more than 30% of household income.  
When supply did respond to demand, it was generally too late, and urban growth restrictions ensured new homes were built in locations far from existing amenities, and therefore not appealing to the home buying demographic.  
Brownfill sites were filled with low-grade high-density unit stock, and subsequently, in the two years leading up to 2007, almost half of all new home purchases stemmed from the investment sector rather than a first home buyer demographic.  
Following the crash, large swaths of these new properties sit vacant, and the lingering lack of quality supply has started to once again <a href="https://www.independent.ie/irish-news/city-housing-bubble-feared-as-prices-soar-by-3000-a-month-29614288" target="_blank">disproportionately inflate</a> established values as the economy starts to show slow signs of recovery.  
The rhetoric stemming from the media also played its part in underpinning the confidence. Various headlines from the Irish Times prove the point aptly: "Bricks and Mortar Unlikely to Lose Their Value" (December 11, 2002), "Prices to Rise as Equilibrium is Miles Away" (March 18, 2004), "House Prices 'Set for Soft Landing'" (November 22, 2005), "Property Market Unlikely to Collapse, Says Danske Chief" (February 2, 2006) and "House Prices Rising at Triple Last Year’s Rate" (June 29, 2006).  
Similarly, the UK was also suffering a housing shortage with data analysis given to parliament suggesting the UK needed "an overall total of 203,000 homes each year during the period 2001 to 2021 to keep pace with newly-arising household growth."  
Whilst it’s impossible to compare against every measure when drawing international comparisons, the spirit of certainty that keeps prices rocking along all too often masks underlying instabilities. Hence why so few see a crash looming.  
This is why it is vital and long overdue, for our politicians to work hard at establishing a political road map that will unpick the current distortions tying up the established market (such as tax incentives which encourage speculative activity and underutilisation of the existing stock), whilst at the same time lowering land prices and increasing effective and quality supply for buyers and renters.
Without action, potential rises in unemployment and future interest rate hikes will simply exacerbate the boom and bust cycles resulting in a slow and painful demographic shift, as an increasing wave of younger Australian’s find themselves in a position where they need to take on a greater and greater proportion of debt just to enter the market.  
It’s easy to palm off the risks by citing that only Sydney and Melbourne are experiencing heated activity – but somewhat foolhardy to think that this won’t have a broader impact as the RBA fight with the conundrum of balancing rates in a multi speed economy. 
Whilst we continue the bubble debate, and both the RBA and government sit on their hands and look sideways assuring us there’s nothing to worry about yet, a largely unregulated housing market, which in some areas is full of pent up demand from cheap money and speculation, has well and truly taken the bit.
 
<hr>
 Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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catherinecashmore-6LXia3pPQj

Regulation and speculation, the self-perpetuating forces in Australia’s housing market: Catherine Cashmore

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The Sydney auction market started its 80% auction clearance rate some four months ago.
It's barely skipped a beat since.
Price growth has joined the party, but not every pocket of Sydney has been securing exceptionally strong gains.
Headline grabbing above-reserve auction results have been an emerging trend, but reserves can be quite subjective, and thereby aren't truly representative of the actual price movement.
But the resale of the same property provides the better indicator. Not that they are necessarily truly representative either.
One stellar resale example came in Sydney's Sandringham when a three bedroom cottage - with 2011 approved plans for a contemporary four bedroom residence - sold under the weekend auction hammer.
Set on a 520 square metre block - with polished timber floorboards and high period ceilings - the house fetched $1,411,000  through Ray Fadel of Raine &amp; Horne Sans Souci.
The auctioneer, Will Hampson of <a target="_blank" href="https://www.myauctioneer.com.au/index.php/about-us/will-hampson">My Auctioneer</a> tweeted he had secured $1,121,000 18 months ago for 15 Dickin Avenue (pictured below) when also auctioned through Ray Fadel, ie 15% annualised growth.
{yoogallery src=[images/stories/2013/10/07/sand]}
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It was marketed as "perfect to live in now and re-build later, this neat and tidy sun drenched property is surrounded by quality homes which provides a great opportunity to enter the Sandringham market at an affordable price."
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"Would suit down sizers, young families or owner builders."
And significantly it sold to an owner builder who after beating off rival builders will enjoy all the advantages of undertaking the work himself on his principle place of residence.
Hampson commented there had been the 10 registered bidders.
The bids came quickly, he noted, even after it was announced on the market at $1.27 million when three fought it out.
"I've been auctioneering 18 years now with 15 years of that in property and in many lately the bidding feels like I am back auctioning livestock," he tweeted.
The Sandringham property has been actively traded, selling prior to it current renovated status in October 2010 at $990,000, reflecting 9% annualised growth between 2010 and its 2012 sale. It sold at $860,000 in 2004.
It's recent rental yield was reflected after its 2012 sale when it was offered at a $700 weekly rental, a 3.2% gross yield. <a target="_blank" href="/news">RP Data</a> gives the suburb's median house price as $1,265,000 with a 3.1% gross indicative yield.
<blockquote class="twitter-tweet">
I just sold a house I auctioned 18 months ago for $1,121,000 today I got $1,411,000 that's $290,000 in 18 months now that's a hot auction !
— Will Hampson (@willhampson) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/willhampson/statuses/386339261391175682">October 5, 2013</a>
</blockquote>
But the weekend auction bidding was subdued at nearby Ramsgate Beach, on Botany Bay where a triple-storey newly completed beachfront property at 6 Florence Street fell short of its $2.4 million reserve to sell for $2.3 million. It was built on its 456 square metre block that cost $890,000 in 2007.
There were seven registered bidders with four bidding. 
APM reported a five-bedroom Strathfield property was Sydney’s highest weekend auction result at $2.73 million sold through Devine Real Estate agent Roger Agha. The most affordable property reported sold at the weekend was a two bedroom unit at 20/1 Tuggerah Parade The Entrance which sold for $235,000 through Ray White Budgewoi.
There were fewer auctions due to the long weekend - just 259 - but the overall 81.8% continued the weekend before when there were about 600.
The upper north shore’s 94% success rate topped the inner west’s 91% from 81 auctions. The lower north shore secured 91% and the south had a 90% clearance rate from its 70 auctions.
While the onsite weekend rate sat above 80%, the addition of mid-week results produced an overall Sydney auction market of 78.6% which Dr Andrew Wilson, the APM senior economist described as the best September ever.
 
 
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jchancellor-FAypfDUnLy

Same auctioned Sandringham house shows 15% annualised price growth

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RP Data is expecting 826 auctions in Melbourne this week. After this week there are another 11 weekends for auctions to be held before Christmas and by using last year as a guide we can estimate around 10,000 homes will be offered at auction.
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<li>
Preliminary clearance rate week ending 29 September: NA (low volume)
</li>
<li>
Melbourne auctions expected week ending 5 October: 826
</li>
<li>
Melbourne private sales time on market week ending 29 September: 39 days (houses)
</li>
<li>
Melbourne vendor discounting market week ending 29 September: -6.2% (houses)
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<li>
Listings being prepared for market: 8.6% higher in month ending 29 September
</li>
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RP Data is expecting 826 auctions in Melbourne this week. After this week there are another 11 weekends for auctions to be held before Christmas and by using last year as a guide we can estimate around 10,000 homes will be offered at auction.
Of those 10,000 auctions this years trend would suggest around 7,000 will be sold at or before the auction. The majority of those passed in will be negotiated over as the vendor and buyers seek to agree over price and terms.
Across the broader market there continues to be very strong listings as Victoria lead the nation for homes being prepared for sale for the second week in a row.

<hr>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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