<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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Property developing can throw many different challenges at you and one thing I have learnt after managing over 60 developments is that there is always a solution to a problem. The trick is to understand what possible issues could arise and preparing yourself for them.
You see, the development process is not an exact science because every development site is different.  So the construction costs will rarely, if ever, be the same from project to project, even if you are using the same plans.
Some sites will need more retaining than others based on the fall of the land, others may need more concrete due to the length of the site and then there are the projects that have things lurking below the surface that could never have been imagined.  We once uncovered an old asbestos shed that had been buried many years ago. This did not come up on our geo technical report and had to be removed as contaminated rather than normal waste.
Sometimes if you develop in the same areas, you can work out after a few developments, what is likely to happen.  You may be able to base your estimates on say the soil type as you’ve developed in that same estate.  This can mean similar slab piering will be required as an example. You understand what council is likely to approve and the fees and charges. That’s what experience brings to the table.
But sometimes things don’t go to plan and as a project manager it is up to us to make sure the development gets through as efficiently as possible. One of the biggest areas for problems is the allowance for building works.
When pricing a development and running feasibilities, it is important to understand that your building estimate is an organic creature. By this I mean the building estimate you start with will nearly always be different to the one you end with.  It will evolve throughout the process as you obtain more and more details.  Once you have all the fine details, the building estimate can be finalised to the fixed price builder’s tender.
When designing our villa plans, we generally follow this process:
<ol>
<li>
Concept plan – this will show the number and size of villas on the land, but not much detail
</li>
<li>
Development application (DA) plans – enough information is included on the plans to satisfy  council
</li>
<li>
Construction certificate (CC) plans –more detail, including engineer drainage and slab design
</li>
</ol>
The starting point for our build estimate will be based on similar projects that we have recently completed and an allowance for the different site.
This progresses to an estimate based on the concept plan.  Still a very ‘loose’ estimate as there is usually not enough detail on the concept plan for the builder to have all information he needs.  The build estimate we have at this stage will tell us whether we are tracking within budget.  If not, we can make the necessary changes required, perhaps reducing the size of the villas working with both our builder and architect to design the right dwellings for our project to be successful.
Once the concept plan is approved, the architect will proceed to full DA plans.  It is here that much more detail is added and we will have our builder price the DA plans.  Again, this does not give us a final build cost but we will be getting closer to the expected outcome.  Once approved by our client, the DA plans are finalised and the DA is prepared.
During the DA process, council may request some changes to the plans, so it is important to understand we are still ‘evolving’ at this stage. We also need to review the conditions of the DA consent before we have more detail to finalise the build costs.
Once council have approved the DA, we will start to prepare the CC plans.  Engineers will be briefed and a drainage and engineered slab design or footings for the foundations will be produced. More detail is added to the CC plans, finalising levels and double checking schedules.
Before we lodge the CC plans with our private certifier we will have our builder issue a third costing. It is this costing that will give us the final build costs...well almost.  We still need to have the CC approved and ensure there are no further revisions to the plans required.
After we have the CC stamped plans, our builder will issue their final tender and building contract. This will be a fixed price contract; however, there may still be a few items that will be ‘provisional’. They are usually some site works, removal of fill and retaining walls. 
The builder may mark these items as provisional as they won’t know until works proceed exactly what the cost is. For instance, if rock is hit during the site cut, this will increase the site costs. If the site cut differs slightly to the plans, this may impact on the height of retaining walls.  So these ‘provisional’ items will be charged at actual cost whether it is lower or higher.  
<img alt="chivers-oct-3-one" height="263" width="470" src="/images/stories/2013/10/03/chivers-oct-3-one.jpg">
So you can see how the build estimate must evolve through the development process and until your development is completed, you really won’t know the exact cost.  It’s important you allow a contingency amount for variations that may crop up along the way.
As a developer, you will embark on a challenging journey from start to finish and the path you choose can be simplified with the help of a project manager to guide you along the way.  Always take the time to have full builder’s estimates done at each stage to avoid any nasty surprises.
 
<hr>
 Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
 
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Determining your construction costs at the outset of your development: Jo Chivers

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An increase of 8.7% in property values since the market trough in May 2012 indicates that the housing market is once again back in a growth phase, however, data out today indicates more subdued conditions than some may be expecting.  

The current rate of value appreciation is nowhere near as strong as the growth in values over previous value growth phases.
Although there is some clear strengthening of values, the magnitude of the increase is less than what was recorded during previous growth cycles despite positive data released in the September RP Data-Rismark Home Value Index results earlier this week.
<img src="/images/stories/2013/10/03/kusher-oct-3-one.png" width="470" height="238" alt="kusher-oct-3-one">
While the results showed that capital city home values increased by 5.5% over the past 12 months, and by 8.7% since their recent low point in May 2012, other recent growth periods in the housing market, specifically at the beginning of 2001, 2007 and 2009 show that the rise in values during the current cycle is significantly more modest when compared with these cycles.
Home values across the combined capital cities have been rising since May last year and are now 8.7% higher over the 17 months (including May). Over the 17 months from December 2003 to April 2002, combined capital city home values had increased by 27.6%. The 2007 housing market recovery ran for exactly 17 months with home values rising by 15.1% over that period. Over the 17 months from December 2008 to April 2010 combined capital city home values increased by a total of 19.3%.
Value growth over the first 17 months from December 2001 was three times greater than value growth over the most recent growth phase. In 2007 growth was almost double that of the current period and over the same period post December 2008 values had grown at more than double the current rate of value growth.
<img src="/images/stories/2013/10/03/kusher-oct-3-two.png" width="470" height="257" alt="kusher-oct-3-two">
A further investigation into value growth data across each capital city over these three recent market growth phases shows some interesting findings.
Over the three previous growth phases Melbourne’s housing market recorded the strongest level of capital growth followed by Sydney in 2001 and 2009, and by Brisbane in 2007. In the current recovery phase, the market has taken its lead from Sydney followed by Perth and Darwin (although capital gains in these latter two markets is now decelerating).
In 2001, Darwin showed an extremely muted response to the beginning of the market growth phase and Perth’s initial growth was lower compared with most other capital cities. In 2007, value growth through the recovery was comparatively weak in Perth, Hobart and Sydney. In the 2009 growth phase it was Hobart, Adelaide and Brisbane which experienced the weakest rebound in home values. Looking at the current growth phase, it has once again been Hobart, Adelaide and Brisbane that have experienced the most moderate response.
<img src="/images/stories/2013/10/03/kusher-oct-3-three.png" width="470" height="279" alt="kusher-oct-3-three">
Based on this data it seems as if the national housing market tends to be led by the Melbourne and Sydney housing markets with the recovery across other capital cities generally lagging behind. Today’s results which are evidenced in the accompanying charts show that the remaining capital cities tend to lag the two largest cities.
Another point worth noting is that the periods of strong capital growth in Sydney and Melbourne have tended to not be as long as those in the other major capital cities. This was particularly noticeable in the 2001 growth phase where value growth had slowed in Sydney and Melbourne but continued for a much longer period in Brisbane, Adelaide and Perth.
With value growth typically commencing in Sydney and Melbourne where home values tend to be much higher than those in the other major capital cities, it is no surprise that growth phases tend to be shorter as affordability constraints arise.
<img src="/images/stories/2013/10/03/kusher-oct-3-four.png" width="470" height="237" alt="kusher-oct-3-four">
Given that historically growth periods have tended to be shorter in Sydney and Melbourne than those in Brisbane, Adelaide and Perth it would be reasonable to anticipate that the current rate of value growth will not continue for an extended period of time.
It is also reasonable to expect that over the coming month’s value growth in Brisbane and Adelaide, where the recovery to-date has been quite dormant, we may start to see stronger value growth conditions as the affordability of these cities improves relative to the other major capital cities.
 
<hr>
 Cameron Kusher is senior research analyst at <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/">RP Data</a>.
 
 
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Housing market back in growth phase, despite subdued growth: Cameron Kusher

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The Reserve Bank’s monetary policy settings are working.  Dwelling values are rising, as should be expected when mortgage rates are at historic lows. 
But arguably what is more important is that the renewed level of housing market confidence is showing up in improved development activity and demand for new homes. This is exactly what the doctor ordered – a ramp up in the construction sector is one of the essential elements of our new look economy where resources related investment will be lower but housing investment is expected to be higher.
Dwelling approvals have been trending higher since about April 2012 which is close to the same time that the housing market bottomed out from a value depreciation perspective.  Between April last year and August this year the number of dwelling approvals (seasonally adjusted) from the private sector has increased by close to 30% and over the past twelve months dwelling approvals are 10.3% higher for detached homes and 3.2% higher for multi-unit dwellings.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="153" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/National-private-sector-dwelling-approvals-580x189.jpg" alt="National private sector dwelling approvals" class="aligncenter size-large wp-image-2396">
The lift in development activity has a significant multiplier effect on the economy.  For a start, more homes being built means more hours worked in the construction sector and more jobs.  Demand for building materials rises as well as home furnishings, bulky goods, appliances and white goods.
The improvement in dwelling approvals is likely to be driven by a number of factors.  The overall market growth cycle will have a lot to do with it; developers and builders are more inclined to release new supply when consumer demand for housing is higher (transaction numbers were about 22% higher than a year ago based on our estimates for July). 
Another factor would be government grants and stamp duty concession which are firmly aimed at providing incentives to purchase new homes rather than established ones.  And finally there is also the strong rate of population growth which is fuelling organic demand for new housing (Australia’s population grew by 1.8% over the year to March 2013 which equates to just under 400,000 new residents).
The surging demand for new homes shows up clearly in the ABS housing finance commitments data.  The graph below plots the number of new mortgage commitments by owner occupiers for newly built homes.  Finance demand for new housing hasn’t been this high since 1979 and the number of commitments in July this year were 52% higher than a year ago.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="157" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/Number-of-housing-fin-commitments-for-new-homes-oo-only-580x194.jpg" alt="Number of housing fin commitments for new homes (oo only)" class="aligncenter size-large wp-image-2397">
Dwelling approvals from state to state are a bit of a mixed bag though.  The New South Wales region is the driving force behind the surge in dwelling approvals with the latest August data showing a 48% lift in private sector approvals compared August 2012.  In July, New South Wales accounted for 28% of all private sector dwelling approvals nationally.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="157" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/NSW-private-sector-dwelling-approvals-580x194.jpg" alt="NSW private sector dwelling approvals" class="aligncenter size-large wp-image-2398">
Dwelling approvals have eased in Victoria after a surge of development approval activity in 2009/10.   In fact, at their height, Victorian dwelling approvals accounted for 40% of all approvals nationally. 
Based on the July 2013 data, Victoria now comprises a much healthier 27% of all dwelling approvals nationally and the lower rate of dwelling approvals together with Victoria’s very high rate of population growth should help to bring reduce fears of local oversupply.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="157" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/VIC-private-sector-dwelling-approvals-580x194.jpg" alt="VIC private sector dwelling approvals" class="aligncenter size-large wp-image-2399">
With Queensland’s housing market remaining fairly depressed (Brisbane values have only moved 1.1% higher over the past twelve months), developer confidence is yet to pick up.  Private sector dwelling approvals have increased by 10% over the past year but remain well below the long term average. 
Despite the low number of approvals, population growth into Queensland remains rapid, with the state population growing by 92,300 residents over the year to March – roughly the same raw figures as New South Wales but with about a third less new housing supply coming on line.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="156" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/Qld-private-sector-dwelling-approvals-580x193.jpg" alt="Qld private sector dwelling approvals" class="aligncenter size-large wp-image-2400">
South Australia’s housing market has remained one of the weakest across the capital cities, with dwelling values 0.8% lower over the past twelve months.  With such sedate housing market conditions it is surprising to see dwelling approvals rise by 30% over the past twelve months.  76% of South Australian dwelling approvals are for detached homes, highlighting the fact that the local unit market in Adelaide remains a very small proportion of the dwelling mix despite the state government offering attractive incentives to purchase new inner city units.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="159" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/SA-private-sector-dwelling-approvals-580x196.jpg" alt="SA private sector dwelling approvals" class="aligncenter size-large wp-image-2401">
Dwelling approvals in Western Australia have increased by 18% over the past twelve months in line with very robust housing market conditions. The rate of capital gain across Perth has recently been slowing, as has rental growth and buyer numbers appear to have peaked as well, so it may be the case that developer activity starts to mellow across WA as well.
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="160" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/WA-private-sector-dwelling-approvals-580x197.jpg" alt="WA private sector dwelling approvals" class="aligncenter size-large wp-image-2402">
One final point on the new level of dwelling approvals is the trend towards more medium and high density product.  The graph below shows the number of dwelling approvals for detached homes nationally as a proportion of all dwelling approvals.  Houses now comprise around 60% of all dwelling approvals, a big shift from 10years ago where they accounted for closer to 70% of all dwelling approvals.
The trend towards unit development is likely being driven by changing market preferences (more empty nesters and single person households), affordability constraints (units tend to be cheaper) and changed zoning rules (more land is zoned for medium and high density development particularly in areas closer to the city centre).
<img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="159" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/10/National-houses-as-a-pc-of-all-dwelling-approvals-580x196.jpg" alt="National houses as a pc of all dwelling approvals" class="aligncenter size-large wp-image-2403">

<hr>
Tim Lawless is national research director of <a rel="nofollow" href="https://www.myrp.com.au/" target="_blank">RP Data.</a>
 
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Strong housing market fuels dwelling construction: Tim Lawless

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There has been a lot of coverage lately about whether there's a housing bubble or not, and so we're asking Property Observer readers to weigh in with their thoughts.
 
<img alt="poll-results-oct-4" height="258" width="470" src="/images/stories/2013/10/04/poll-results-oct-4.jpg">Tomorrow, we'll bring you some coverage of what the experts perspectives are around this debate.
Feel free to email in your thoughts to <a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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po-LsXgBTHBmX

Do you think there is a housing bubble in Australia?

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Companies beavering away in the resources industry must know how Mark Twain (who was declared dead by newspapers when he was very much alive) felt when he reportedly said, “the reports of my death have been greatly exaggerated.”  
They must wonder if they have slipped into a parallel universe when the industry they’re working in has been declared dead and buried.  
This is a relevant issue for property investors because of the link between resources activity, jobs creation and consequent demand for real estate in mining towns, regional centres and capital cities.  
There is a fundamental mis-reading of the signals coming out of the resources sector, by so-called analysts and by media.  
Cost-cutting is seen as evidence that the sector is dying. A decline in prices for some commodities, such as coal, is interpreted as death of the industry rather than simply another stage in the volatile resources cycle. A few negative reports out of China are translated into “the resources boom is over because China is slowing down."  
This comment by Rob Neale, CEO of coal miner New Hope, is pertinent: "The international thermal coal market is oversupplied and the industry is suffering to varying extents. We have been in the business for a long time and we have withstood many of these cycles and I would expect to continue to do so."
So is this one from Michael Roche, CEO of the Queensland Resources Council: “The latest export data suggests that Bowen Basin coal producers are responding skilfully to global market realities by reducing costs and increasing volumes to reinforce Queensland's position as a supplier of choice to Asia.”
And this one from Scott Barklamb, executive director of the Australian Mines and Metals Association: “The industry has never accepted a simplistic ‘boom versus bust’ view of the economy.”
And, finally, this comment from Origin chief executive Grant King: “It's not over. Most of the capital still has to be spent in order to deliver these big projects."
So, here are my top 15 reasons why the resources boom is far from over.  
1). The economies that are driving the Australian resources revolution, such as India and China, continue to grow at phenomenal rates. The so-called “slowdown in China” is a myth. The Asian Century is just beginning.  
2). Resources projects currently under construction total $268 billion. That’s $268,000,000,000.  
3). The change of federal government means some unwelcome (to the mining industry) taxes will be eliminated. The new government says it will “re-boot” the mining boom by taking measures to reduce costs. It says there are over 50 major mining and port projects awaiting approval.  
4). BHP Billiton and Rio Tinto are exporting record levels of iron ore and continue to expand. Rio, for example, is expanding its port, rail and mine operations in the Pilbara to lift output to 290 million tonnes per year. Other iron ore miners, like Fortescue Metals and BC Iron, are delivering record production. Demand for cape-size vessels to service Australian iron ore exports has tripled since June.  
5). BHP says the resources boom will extend at least another 15 years. Chairman Jac Nasser says: “We maintain a positive outlook over the long term as the fundamentals of wealth creation, demographics and urbanisation continue to create demand for commodities across Asia and other markets.”
6). Australia is on target to become, within the next five years or so, the world’s biggest exporter of LNG.  
7). The three mega gas projects focused on Gladstone are about halfway through their construction phase while a fourth (the $15 billion Arrow Energy gas project) has recently been approved.  Contractor for all three projects, Bechtel, is hiring at least 100 workers every week - the expected workforce peak is 10,500, which is expected to continue until mid-2014.  
8). Other major resources-related projects in Gladstone include the Fisherman's Landing, Boulder Steel, Gladstone Gas Power Station and the Yarwun Refinery projects. To service these, another workers' camp development application (for 516 rooms) is before Gladstone Regional Council.  
9). Big contracts continue to be awarded in the Surat Basin coal seam gas industry, such as the $1.8 billion contact recently handed to Thiess by QGC.
10). Woodside is proceeding with its $40 billion Browse LNG project WA, contrary to media reports of its death, with its Japanese and Chinese partners agreeing to a floating offshore processing facility. The project is being strongly backed by new federal Industry Minister Ian Macfarlane.  
11). The $9 billion Roy Hill iron ore project in WA has been handing out major contracts, including a $620 million rail works contract to NRW Holdings, a $420 million contract to BGC Contracting and a $1.47 billion contract to Forge Group (for a processing facility). The $7.7 billion West Pilbara Iron Ore project is being planned by Aquila Resources and partner AMCI Investments. Fortescue Metals Group is going ahead with its $3 billion Iron Bridge magnetite project and has announced a $1.25 billion development deal with Formosa Plastic group of Taiwan.  
10). South Australia has announced a $5 billion infrastructure corridor to cater to a projected eight-fold rise in iron ore exports from the state. The Eyre Peninsula has multiple iron ore projects under way or in planning.  
11). The Queensland Resources Council says that the Queensland coal industry is positioning itself for “the inevitable revival of coal demand, driven by China and India”.
12). Multiple coal mining projects, each of them a multi-billion-dollar venture, are gearing for a construction start in Queensland’s Galilee Basin, with proactive support from the state government. They represent investment totalling well over $20 billion.  
13). An economic needs analysis has identified 17 coalmining projects in varying stages of development in the Central Highlands near Emerald. It estimated a mining workforce in the Emerald area rising from 800 in 2012 to 4,150 in 2022. A 600-person FIFO accommodation village is planned. BHP recently officially opened its Dania coking coal mine near Moranbah in Queensland, its seventh Bowen Basin mine in its partnership with Mitsubishi.  
14). Port Waratah Coal Services has just completed a $1.5 billion expansion of its export facilities at the Port of Newcastle, lifting capacity to 145 million tonnes per year. Newcastle continues to be the world’s biggest coal export port.  
15). In addition in Newcastle, major new export port development are happening around Australia. The multi-billon-dollar Wiggins Island Coal Export Terminal project is under way at Gladstone. Stage one construction of WICET is about 65% complete, with coal operations to begin in 2015. Work is under way on Rio Tinto’s Cape Lambert Port B project in WA - it recently handed a $235 million construction contract to Monadelphous Group.
That is a very short list of some of the action underpinning my conviction that the resources revolution in Australia will be thriving – and driving real estate demand around the nation – long after I’m as dead as Mark Twain was thought to be.
 
<hr>
 Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">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">Twitter</a>.
 
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Rumours of the resource industry's death have been greatly exaggerated: Terry Ryder

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Hills Holdings has sold its office and warehouse complex in Sydney's Riverwood for $9.7 million. 
A private investor/owner occupier purchased the industrial complex, at 8-12 Wiggs Road. 
The complex sits on a building area of 8,902 square metres, over six separate buildings on a large land parcel of 2.18 hectares. It includes six buildings comprising of a 3,220 square metre warehouse, a 2,330 square metre office/warehouse, a 1,054 square metre office/warehouse, a 1,195 square metre office, an 809 square metre office/warehouse and a 291 square metre warehouse.
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795891" target="_blank">8 Wiggs Road, Riverwood</a>
{yoogallery src=[images/stories/2013/10/02/riv]}
 
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795887" target="_blank">10-12 Wiggs Road, Riverswood</a>
{yoogallery src=[images/stories/2013/10/02/riv2]}
 
Paul Mileto and Eugene Evgenikos of Knight Frank negotiated the deal.
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Hills Holdings let go of Riverwood office and warehouse complex

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For well over a decade I have been grappling with property markets consistently showing us the increased performance of concentrated inner urban areas, particularly those that are in a close proximity to the CBDs of our major Australian cities.  
But there’s really no point fighting against it. The fact is, CBDs are the highest performing areas, and that makes them the key areas for investors.  
When looking at investing in your first, second or hundredth property, the location is always the most important factor to take into account, and there’s always going to be an element of risk when making that decision. The whole notion of investing applies an assessment of risk, but I would argue that that risk is mitigated by investing in areas which have robust employment, infrastructure and lifestyle choices.  
Mining towns may seem like the prime area to make a profit, but there’s no promise that these areas will still be populated and have a reliable stream of tenants in 10 or 15 years’ time. But in our inner cities, you know that this will always be the case – and that’s a fact!  
The buyer’s agents in my business specifically look for properties within a five-10 kilometres perimeter of the CBD. The reason for this? People will always cluster where trade and commerce present themselves.
Cities form around landscape and natural bounties such as beautiful harbours and inlets, they’re nice places to live and people are social and community-based creatures - they relish in living near the action. In fact, the old cities around the world show how communities of all racial, cultural and religious backgrounds thrive in these cities.  
This very phenomenon has been played out across the world, city after city, on every single continent in the world and is our key to success. It is your guarantee that we too will populate our cities in exactly the same way as places like London, New York and Shanghai.  
The land in capital cities will always be an asset that will grow in demand.  
At present, I stick to the top six cities in Australia in order of population:  
1). Sydney
2). Melbourne
3). Brisbane
4). Perth
5). Adelaide
6). Gold Coast  
I usually recommend heading for Sydney or Melbourne to consolidate the core purchasing strategy. Australia is now one of the most urbanised countries in the world, with 89% of our population living in urban centres and investing in these areas will almost definitely offer you the most upside to your 10–15 year plan.
Go where the land is scarce and, once you’ve decided on your area, ask yourself the following questions before purchasing.
a). Where is the employment centre of the city?
b). Is there a diversity of employment in this region?
c.) What is the history of this employment, i.e. does it ebb and flow or is it historically always strong?
d). Can I buy close to good infrastructure, or if the citizens of a city are better serviced elsewhere, what is stopping them from leaving?
e). What is the history of infrastructure in this city? I.e. how has the government [state and local] achieved the objectives set by its citizens over a good (minimum 15 years) period of time?  
Once you know these answers, you’ll know if you’re in an area that will grow and thrive – and your property will grow and thrive with it. A safe bet for anyone entering, or well experienced, in property investing.  
 
<hr>
 Gavin McPherson is the CEO of <a target="_blank" href="https://www.oasisproperty.com.au/oasis-buyers/oasis-property-buyers.php">Oasis Property</a> and author of "Value Investing in Property: What would Warren Buffet do if he was investing in property in Australia?"
 
 
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Some things never change; inner city investment is the best bet: Gavin McPherson

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I wrote a few weeks ago about <a target="_blank" href="https://www.propertyobserver.com.au/economy/are-we-in-a-dwelling-boom-a-rally-bubble-or-a-recovery-inside-our-bubble-mentality-catherine-cashmore/2013081864317">housing bubbles and the misconceptions commonly related to the term</a>.  A bubble is typically an illusion of economic strength which draws buyers in, whilst masking underlying fragilities - and in some areas of Australia, the recent investor lead rally in property prices from an already inflated base is concerning.
However, unlike other economic bubbles, housing markets have plenty of complexities which can delay a severe correction – not least the stimulus of easy monetary policy, incentives, and speculation buoyed on by tax policies that encourage heated investor activity in the established housing terrain around our most desirable capital city locations.
Even in markets where housing has suffered dearly from the 2008 financial crisis, such as the UK, and USA, there is a fragmented nature to the falls dependent on location and the openness to attract foreign speculation.
In the south-eastern regions of England for example, where foreign money has propped up London’s prime central market creating a ripple across the outer lying suburban towns, the falls in capital have been far less severe than the northern districts where the market has dipped some 20%, and in regional areas, even more.
Not that this has in anyway helped Briton’s younger population who are now commonly termed ‘generation rent,’ with the numbers of unemployed living in the family home almost doubling between 2008 to 2012, and the productive areas of economy failing to pick up fast enough to drive innovation and generate new sources of growth.
Although house prices in the UK have started to rise again with the help of various schemes such as ‘funding for lending,’– other areas of productivity aren’t fairing so well.  As UK regulator Lord Adair Turner pointed out in a recent speech to London’s central bankers and economists, only 15% of total financial flows in the UK have gone toward investment projects, the rest have instead been used to support unsecured personal finance or existing assets - significantly real estate.
However, do we really fair much better in Australia? Our low interest rate environment, coupled with a honeymoon period of post-election confidence, is predictably forcing investors to seek out any area of imagined opportunity that can provide a better return on their dollar.
This runs the risk of stimulating higher levels of household debt (currently at around 150%) directly tied to speculative behaviour.  And in the Australian culture which veers towards the perceived safety of bricks and mortar, based on the somewhat fool hardy view promoted widely in the industry that limited supply and rising population growth can forever prevent a sharp correction, you don’t need a second guess as to where a large proportion of undiversified debt is currently being allocated.
Some interesting research was released last week by Jonathan Mott of financial services firm UBS, highlighting the above point aptly;
“If we compare Australia, New Zealand and the UK, all three countries have similar cultures, demographics and home ownership. However, investment property contributes 32% of Australian mortgages, 20% of NZ mortgages and 12% of UK mortgages. ….57% of Australian landlords are leveraged (ATO data suggests this is closer to 81%) compared to 28% in NZ and just 13% in the UK”
This would be less of a concern if effective supply was keeping pace to soak up the overflow of demand, and thereby reduce volatility in values. However, in areas of limited supply, the bubbly nature of the price gains disproportionally advantages those with existing assets, at the expense of those struggling to get a foothold.
When viewed against a less than desirable economic backdrop of rising unemployment, an unwinding mining boom, and weak wage growth, with a rise in the cash rate at some future point inevitable, you’d be foolish to think the current trend can continue without some correction.
Notwithstanding, our politicians continue to miss the point, as Tony Abbot said on 3AW last week;
“Don’t forget … if housing prices go up, sure that makes it harder to get into the market, but it also means that everyone who is in the market has a more valuable asset,”
What a sad world it is, when the most essential item young and old aspire to alike, for both their health and continued well being, gradually becomes less affordable over time, requiring a greater level of debt to be serviced despite the somewhat falsely perceived advantage, that low interest rates somehow make the buying environment and purchase of property easier.
And yet as a direct consequence, we have falling rates of ownership – particularly in the younger generations, an increase in overcrowding of accommodation, rising waiting lists for social housing, and the average age of ownership for those not benefitting from a gifted deposit, pushing closer to 40 years.
The housing market no longer revolves around promoting home ownership for the sake of personal well being, it’s Australia’s largest domestic asset class with an aggregated value of over $4 trillion, and understandably it’s now suggested that ASIC should recognise it as such.
Countless hours can be spent arguing what the term ‘bubble’ actually means – definitions are numerous. Equations are done regularly comparing price to rent, debt to GDP, price to wages (a somewhat skewed calculation due to the inclusion of compulsory super,) however do we really need a meteorologist to tell us what the weather’s like outside?
Whether you call it a bubble matters not, Australian house prices have been pumped up with many ingredients over the decades to get to such elevated levels.  As a result, we have a market that is both overpriced and undersupplied, with the first home buyers' share of new home loans sitting at its lowest point in a decade.
Monetary policy alone is a blunt instrument, and whilst Governments can allocate at their discretion where to spend our tax dollars, they have limited influence on where cheap credit is spent, or for which asset it is lent into the economy.
Nor do they currently have the ability to direct it into areas where it’s needed most – which in terms of housing would principally be construction. Hence why the sector continues to call out desperately for another rate cut.
Instead buyers are punting a lot of unproductive dollars on second hand houses, and the proportion of cheap money finding its way into a limited pool of dwellings, should not be brushed aside as merely part of a typical property cycle, when we have a number of economic and social factors combining, which left unregulated, have the potential to create the perfect storm.
<a target="_blank" href="https://www.afr.com/p/blogs/christopher_joye/why_we_should_be_worried_about_australia_9gqc2CPE2hrAcikkRvyOGM">Much commentary has been written on this matter of late</a>, and it’s not isolated to Australia. The Bank of England this week voiced how it was watching the UK market “closely” as price rises in London reached 10% in the year to July, warning “that if risks to the stability of the financial system were to emerge from the housing market, both it and the micro prudential regulators had a range of tools available to address those risks."
However, the RBA continue to sit on their hands, not wanting to pull a regulatory lever, instead taking on a stern expression and wagging a finger at investors whilst pleading with them to employ caution, as if they will all fall into line like a bunch of secondary school kids in a playground.
This idea that investors will employ a sense of rationality is ambitious in a market that has corporate regulator ASIC, once again warning against the propensity of spruikers.
But even without these spruikers buyers face difficulties - fed daily with house price statistics from RP Data. Closely comparable sales data is not readily available – computer generated “estimates” are a guess and more often than not, hopelessly inaccurate.
Furthermore, there are plenty of other variables that need to be assessed prior to investing in any residential listing.  Prospected development projects which may spike the stock being taken to market, thereby diminishing the level of capital growth being assumed based on a cursorily look at historical data.
Local vacancy rates, the time on market you can expect your rental property to reasonably sit before finding a tenant, the predominant area demographic any said property will appeal to in order to attract and maintain consistent buyer demand - the list continues.
I mention this, because the broader implication of a large proportion of inexperienced buyers making unwise acquisitions without educated due diligence, is a worry unto itself. However, the number of real estate investors is set to rise. Although presently, only a relatively small proportion of total investment in the property market stems from SMSFs, it’s going to rapidly increase.
As mentioned in the AFR this week, the most mobile pot of cash is in the self-managed super system. About one third of the $500 billion in SMSFs is held in cash, or about $150 billion.
On the back of this, there is a theory that self-managed super will have a mean reversion to normal cash weightings of about 10%. If that proves accurate, about $100 billion in cash will move – leading to the question –where will it move?
As it stands, only 23% of investment into residential property comes from SMSFs, against 77% invested in commercial.  Albeit, when the direction of that percentage is into established areas suffering an elastic band of restricted supply, the recent boom in Sydney for example, against the backdrop of slow credit growth - will have no doubt been exaggerated by SMSF demand.
However, banking regulation aside, our politicians should be moving to restrict policies that encourage disproportionate speculation, such as the tax treatment of negative gearing (which should be phased out) and capital gains, or implementing a transition toward a broad based land tax system which is long over due.
My only comment to those with short-term spectacles on who think the recent boom is good news - enjoy it whilst it lasts, because I suspect it won’t end without unpleasant consequences.

<hr>
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
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Enjoy the housing boom while it lasts, it won't end without unpleasant consequences: Catherine Cashmore

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Housing bubble?  Give me a break.
I forewarned a few weeks back, that we might see an increasing detachment from reality as this residential market recovery takes hold.
I was thinking it would start in earnest sometime next year.  But it looks like I was wrong.  The loopers are already at it and in force.  Lord help us when we actually see some real heat in the overall housing market.
Just the normal noises
For the record, Sydney house prices are up 8.3% over the past 12 months according to RP Data, but were up only 1.2% last year and were down 2.4% in 2011.
As for the rest of the country, Perth is up 7.9% for the year but down 0.5% last month while Melbourne is up 5.4% for the year and the Brisbane-Gold Coast region is up a measly 1.8%.
Hmmm, a housing bubble indeed.
Yet we now have the IMF – yes those clowns – planning to visit Australia (to help get a suntan, I suggest, rather than anything else) to determine if Australia is in deep throes of a housing bubble.
It was just two months ago, when we were still waiting for Australia’s housing market to bust.
For mine, what we are experiencing is the normal machinations of the property cycle - nothing more, nothing less.
Valuations are often short at the recovery stage of the cycle.  They sometimes overshoot near the peak.  There are many issues regarding valuations in Australia.  We have written about them several times.  Go <a href="https://matusikmissive.com.au/2011/06/01/queensland-site-valuations/" target="_blank">here</a>, <a href="https://matusikmissive.com.au/2011/11/16/a-tale-of-two-buildings/" target="_blank">here</a>, <a href="https://matusikmissive.com.au/2012/02/22/bank-vals-101/" target="_blank">here</a> and <a href="https://matusikmissive.com.au/2012/05/16/modern-marketing/" target="_parent">here</a> if you have nothing much better to do.  
Development, redevelopment and renovations 
One of the problems with house price reporting is the way prices are measured and more importantly what influences the rise (or fall) of both median and mean house price figures.
New development or redevelopment often causes the middle and average price to rise, without seeing resale values increasing much at all.
This is what often happens around key infrastructure, such as railway stations.  New projects lift the median/mean values, whilst resale prices remain flat at the time of new development/redevelopment.  The same can be said about weekly rents.  Base property values/rents often rise faster closer to core infrastructure, but the overall residential cycle must be on the improve.
A similar trend can be found in many areas affected by flooding across Australia in recent years.  Many of these areas, especially in Queensland, have now been redeveloped.  This has seen new properties replace older stock.  Median/mean values have often risen as a result.  But many owners in these areas, who are trying to resell flood-affected but unimproved homes, cannot get much more for their property than they originally paid for it.  They are often getting less than they most likely would have if they sold just prior to flooding.
Median and mean housing prices are also affected in the same way when it comes to individual house renovations.
Many areas across Australia are experiencing a renovation surge.  Areas which are going through his swell of reno activity are seeing a strong lift in suburban median and mean prices.  But when you factor in the cost of the renovation itself (and especially if you include your time at a commercial rate), then the true uplift in financial gain is far less than the headline suburban price growth being touted.
It is true that a high and consistent proportion of renovation work across many homes in an area, is a good thing in terms of improving the underlying investment potential of a location.  It is another of<a href="https://www.propertyobserver.com.au/news/forget-hotspotting-lists-you-need-to-dig-a-lot-deeper-michael-matusik/2013092565254" target="_blank"> our key 10 measures which helps us determine the strength of a place’s underlying investment clout</a>.
Such activity suggests that owners are ‘placing money where their mouth is’, so to speak; which in turn often leads to more owner-resident resale interest; which increases the actual size of the resale market and in due course, can help get a much better price on resale.  But it takes time for the base value of property in such an area to increase.
New development, large scale redevelopments and major renovation activity cause median and mean values to rise.  But this isn’t the same as seeing the base value of the existing, unimproved housing stock increase in a certain location.
When we see rapid increases in the base value of residential property, and across widespread areas, then we are experiencing boom-like conditions.
I suspect that - outside of a certain areas in Sydney and Perth, maybe parts of Melbourne now – the base value of Australian housing isn’t increasing much at all.
But the IMF and the  newspapers will be telling you otherwise.
 
<hr>
Michael Matusik is the founder of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.
Read <a rel="nofollow" target="_blank" href="https://www.matusikmissive.com.au/">Michael’s Blog</a> or follow him on <a rel="nofollow" target="_blank" href="https://www.facebook.com/ThinkMatusik?fref=ts">Facebook</a> and <a rel="nofollow" target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a rel="nofollow" href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
 
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Housing bubble? Give me a break: Michael Matusik

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One of Port Melbourne’s newest developments, Aqueous, is 90% sold as construction kicks off.
The $24.7 million development by Prince Developments on Nott Street will feature 41 apartments across six levels.
Architecturally designed by ROTHELOWMAN, inspiration has been drawn from the Port Melbourne area and the inherent connection to the beach and the movement of water.
“The façade has depth thanks to carefully placed voids enabling internal spaces and surfaces to be revealed, while permitting light and ventilation as well as protection from the elements,” says ROTHELOWMAN principal Shane Rothe.
“This allows privacy to tenants while encouraging activation to the street frontage,” says Rothe.
Peter Mitrevski managing director of Prince Developments says Aqueous has attracted a mix of both owner-occupiers and investors.
Aqueous offered a mix of studio, one- and two-bedroom apartments as well as penthouse style apartments.
One two-bedroom apartment remains for $750,000 and is 85 square metres in total.
Two one-bedroom apartments remain, priced from $475,000 and range in size from 53 square metres to 60 square metres.
Aqueous has a scheduled completion date of October 2014.
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