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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

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

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

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

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In keeping with the media’s habit of asking dumb questions and coming up with dumber answers, the (mis)information channels are alive with speculation about what the election result means for real estate. 
   The short answer is that the election will have no direct impact on property markets. Indirectly, the election of a new government will tend to be positive, because an emphatic change of government usually boosts public sentiment.   The reality is, though, that real estate markets were already rising before the weekend poll and the election outcome won’t change that.   This week’s new data on housing finance helps to illustrate the point. The figures from the Australian Bureau of Statistics show that lending for residential real estate purchases rose, again, in July. No surprises there – housing finance has been climbing month by month since late last year.   The value and the number of loan commitments to buy dwellings have been steadily rising since the last trough in December 2012. The number of loans for owner-occupier housing has increased from around 44,000 last December to above 52,000 in July.   The figures show that investors now comprise about 36% of the buying market. That’s noteworthy for two reasons: one, a symptom of rising markets is greater activity from investors, who usually make up about 30% of buyers; and two, despite their rising prominence, investors continue to be a minority in the market.   The major forces in residential real estate include first-time buyers (currently around 14% of the market) and investors (about 36%). The most important component is the third force, which comprises the remaining 50%. These are the next-time buyers – i.e. home buyers other than first-home buyers.   They’re the people who drive real estate markets and cause prices to rise over time. So those who stridently claim that grants to first-home buyers cause prices to rise or that negative gearing tax benefits are to blame because they help investors, are well wide of the mark.   Markets are recovering and price growth is back because next-time buyers are active again and investors, who collectively are followers not leaders, are getting busy as well.   Consumers have been encouraged by improving affordability, thanks to higher incomes, lower interest rates and the two years of price decline that preceded the recent recovery. Housing affordability is at its best in 10 years, according to latest Housing Affordability Report from AdelaideBank and the Real Estate Institute of Australia. It says that the last time affordability was this good was in the June quarter of 2003.   All of this was happening before the federal election and occurred despite the widely-held view that an election causes stagnation. People who run bad businesses or struggle to make investment decisions have used the election as a scapegoat. They’re deluding themselves.   We’re in a growth market and have been since late last year. The election result changes little.   Now that the distraction is out of the way, let’s just get on with it. We have a growing economy, low unemployment and attractive interest rates.   You’ve run out of excuses, people.

<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 him at <a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a> or <a target="_blank" href="https://twitter.com/hotspotting">twitter.com/hotspotting</a>.
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Now that the election's over there are no more excuses: Terry Ryder

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Global patterns are shifting in real estate. It’s something I’ve talked about for some years now, but in the world of real estate, you gradually come to realise that people generally form their own beliefs and stick with them until they see figures which might change their otherwise held views.
Capital is flowing around the world more quickly than ever before, and with stock markets remaining volatile, more of that capital is finding its way into real estate in prime global cities.
However, for many real estate markets, there will only be misery ahead, for a wide range of reasons. Australia, for example, has an ageing population, a declining employment participation rate and seems very likely to see a steadily falling rate of home ownership.
Aussies are changing jobs and careers more quickly than ever before, and thus there may be a diminished appeal in buying a home (with stamp duty and other transaction costs to pay) only for it to be sold within 36 months with yet more fees to pay.
It’s possible that we may see an increasing trend of younger Australians renting where they live, but owning an investment property as a foothold on the property ladder.
Aussie underperformers
When I started writing my first book back in 2010, I underscored the reasons why I felt that of all the Australian capital cities, with the possible exception of Hobart, the city I would be least inclined to buy real estate in would be Adelaide.
The South Australian capital has far weaker population growth than elsewhere (South Australia’s population increased by just 15,600 heads in the year to December 2012, while the states comprising the four major capitals saw increases of 83,000-99,500 persons respectively) and given the supply/demand dynamic I couldn’t see any valid reason why property prices would rise faster than household incomes in Adelaide. And I still can’t.
Although some have tipped Adelaide as a hotspot for more than half a decade, prices have flatly refused to budge. Sure, they probably will inch up while interest rates remain at the lowest level in a generation (however long that proves to be), but my question is: what happens when lending rates begin to revert upwards? It surely seems likely than any uptrend would rapidly be reversed, or at least, stymied?
I feel the same about most regional markets – their day in the sun has come and gone with the deregulation of lending conditions and an unprecedented increase in household debt in the period broadly from 1990 to 2005. Since that time, household debt levels have levelled off and correspondingly so have most regional property prices.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="wargent_sept_20_two" height="359" width="400" src="/images/stories/2013/09/20/wargent_sept_20_two.gif">
My personal opinion is that the only ways property investors are likely to outperform in the future is if they (a) can find a short-term hotspot (or perhaps time an investment in a mining town skilfully), or (b) if they follow the wave of speculative capital which is heading to the inner suburbs of the major capital cities.
I grew up in England and have watched prices in London’s favoured suburbs continue to increase at a dizzying rate for two more than decades with scant regard for the state of the economy or almost any other fundamental metrics which you might care to mention.
It’s true that the UK has few barriers to inflows of international capital. In theory, Australia restricts foreign ownership of established residential stock, but plenty have suggested that the rules are being easily circumnavigated through the use of friends or family members. The absolute level of Asian capital flowing in to Australia is certainly a point for debate, but where it is happening I’d suggest that the likely destination of funds is the major capitals, and potentially some other key coastal Queensland destinations.
Is this actually unfolding?
Take a glance at property prices across Australia – is my theory starting to play out?
Certainly, prices in some capital cities have stalled badly – including, notably, Hobart and Adelaide. Canberra prices may be back at record highs, but the city faces falling demand as public sector jobs are cut. And in aggregate at least, regional property prices have not shifted for years now. Brisbane has had its confidence knocked more than once, but personally I believe the Queensland capital has better days ahead (a topic for another day).
Melbourne, on the other hand, has been a staggering outperformer. I, for one, have been constantly amazed by the market’s resilience after the tremendous boom in prices since seen from around 2006 to 2011, with median dwelling prices moving more than 50% higher at well above $600,000 today.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="wargent_sept_20_three" height="319" width="400" src="/images/stories/2013/09/20/wargent_sept_20_three.gif">
I note that Australian Finance Group reported this month that 49.5% of mortgages sold in NSW were for investor loans, the highest level ever recorded in any Australian state.
Investors tend to buy and hold real estate, which clogs up the established market and ultimately damages affordability – correspondingly I think inner Sydney remains set for a period of outperformance.
The global shift: following the smart money?
Real estate funds have tended to shy away from residential property. Yields are typically low as compared to industrial/commercial/retail stock, and superior fund returns can be tough to achieve, involving detailed research and frequently an ability to add value across a large portfolio.
Institutional investors have recognised the trend towards high net-worth individuals parking capital in prime location real estate, and some new residential funds have sprung up in an attempt to capitalise on the trend, such as the Coral Prime Portfolio Fund, which notes:
“Very few cities across the world can support a prime or super-prime residential market, namely those with the leading financial districts and world renowned cultural reputations."
Where are the prime global cities?
Leading Global Real Estate consultants Knight Frank prepare a <a target="_blank" href="https://my.knightfrank.com/research-reports/prime-global-cities-index.aspx">Prime Global Cities Index</a> which covers 28 cities that it believes can support prime real estate markets. 10 of its 28 cities are located in the Asia Pacific region in cities such as Singapore and Hong Kong, but to date only one of its 28 cities is located in Australasia, that being Sydney. There might be an argument to say that with its even faster rate of population growth, Melbourne could be on an equivalent level to Sydney today.
Perhaps unsurprisingly, the Prime Global Cities Index performance has been massively hindered of late by its component European cities, the five worst performers all being European capitals (Madrid, Geneva, Rome, Paris, Zurich) - indeed seven of the worst eight performers are located in Europe - while the top of the index is powering ahead with the top 10 performers containing no fewer than five entrants from the Asia Pacific region.
Despite debt crises in countries such as Spain and Italy, in its Q2 2013 Prime Global Cities Index report, Knight Frank notes that prices in the luxury property market across its 28 cities are 27% higher than they were during the financial crisis lows of 2009. Notably, Knight Frank highlights that European markets appear to be through the worst  of their problems, with losses now slowing up.
It's also interesting to note the level of regulatory interference in prime real estate markets. Some Asian markets such as Jakarta and Tokyo have seen prices rocketing, and are looking to restrict foreign ownership in order to temper gains. Meanwhile, struggling European cities have looked towards "golden visas" to attract non-EU investors and prop up prices. So, if you ever thought real estate markets will be left to find their own level without interference...think again!
Two speed markets
Coral notes that Britain has now reached the point that many of us have predicted for years – it has a dramatically two-speed market, comprising prime location London and ‘the rest’:
“Prime Central London has become detached not only from residential prices in the UK, but also from the rest of London. This phenomenon is set to continue with limited stock and rising international demand. A challenged national economy and a weaker currency add fuel. Other international prime cities benefit from similar factors.”
It’s been my position that while prices will naturally ebb and flow, I can’t envisage how Sydney land prices will become cheap while we have domestic policies so heavily-focussed on a massively booming population in only a handful of city locations. Sydney’s population is forecast to grow to a jaw-dropping 7 million over the next few decades, and while we can build upwards, it's difficult to see how the popular suburbs will cope with such a booming level of population growth.
I’m not simply “bullish on housing” as some have suggested. Australian households have already undertaken the great leveraging up and dwelling prices in most locations appear likely to underperform quite badly as this decade unfolds. But I feel that Sydney’s inner suburbs are becoming increasingly heavily skewed towards investor capital and this will push prices up sharply in that sector over the coming decades.

<hr>
Pete Wargent is the co-founder of <a rel="nofollow" target="_blank" href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a rel="nofollow" target="_blank" href="https://petewargent.blogspot.com/">blogger</a>.
His new book '<a rel="nofollow" target="_blank" href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>' was released on 1 September 2013.
 
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 The shifting sands of the global real estate market: Pete Wargent

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The debate over the supply of affordable housing and the policies surrounding the framework is a topic that rightly inspires heated emotions – particularly in respect of the lead up we had to Saturday’s federal election and the thundering silence from either major political party, outside of a commitment to keep rates low and job security high.
However, what we really lack in Australia is a realistic vision of how our housing market should appear.
There are too many conflicting voices smothering the debate – from an ingrained cultural mindset looking to profit from rising values in the established sector, hoping to outpace inflation and enable retirement on a pot of property gold, to consumer organisations struggling to address the growing need of citizens requiring public housing or rental assistance.
Obviously vested interests across the real estate and finance industry as a whole, mitigates the commentary somewhat, concluding - based on a narrow contextual view of low interest rates alone - that affordability has in no way worsened, but rather improved – whilst at the same time applauding the recent recovery in prices.
Sydney, in particular is outperforming other states, and whilst there are differences to the macro back drop compared to 2007, it’s bounded into spring as the best (and consequently most expensive) performing capital city in Australia, with clearance rates (the curve of which prices typically follow) mirroring boom peaks, and AFG (Australia’s largest mortgage broker) reporting an 49.5% unprecedented level of home loans written for investors coupled with the comment:
“This is the highest level of investor activity the company has ever recorded for any state.”
RP Data have Sydney prices up +5.4% for the quarter, and although the information is subject to revision, it leads the annual growth rate to its fastest pace since 2010.
So where do we stand on issues of affordability?
I’ve written previously on the <a href="https://www.propertyobserver.com.au/auctions/heat-of-the-moment-the-mentality-of-auction-bidding-fervour-catherine-cashmore/2013090164693" target="_blank">various war stories witnessed on the ground</a>, as auction results exceed reserves by some 10/15% – and on occasion, reach a level, which defies all rationality.
In this respect, any benefit derived from lower interest rates is somewhat offset by the inflationary pressure placed on prices.
Indeed - you’d be hard pushed to find a first-home buyer shopping in our largest capital cities, who has not been outbid by an investor through the course of this year. Investors understandably have a stronger financial arm.
Albeit - at least for existing owners - the relative cost of servicing a mortgage has reduced considerably.
This influence is evident in the latest “Housing Occupancy and Costs” survey from the Australian Bureau of Statistics, which calculates affordability to be at the same level it was some 17/18 years ago from the date of which the survey relates.
According to the findings, in 2011-2012 owners with a mortgage and private renters spent roughly the same proportion of income servicing the repayments, as they did back in 1994-1995, despite the fact that the capital price of housing has more than tripled over the corresponding period and the subsequent duration of mortgages lengthened.
Those paying down a home loan were assessed to spend 18% of their income servicing the payments, with private renters just a fraction above this figure, at 20% of income.
It is this, and other indexes such as the Adelaide Bank/REIA housing affordability report, released last week, claiming affordability is at its “best level since 2003,” that encourages commentators to stamp and seal further discussion of the issue, with a dismissive waft of the hand to would be buyers, accusing them of being both spoilt and picky in their expectations, if complaints about the cost of accommodation are voiced, or any suggest that first-home buyers are locked out.
Neither is there any comment on the inevitable future consequence of rate rises.
However, any release of statistical data, always needs to be assessed in context.  A little like median prices, which bear scant relation to individual house prices, and often require an additional understanding of distortions such as stock on market, the shadow effect of buyer grants and incentives, and a full appreciation of how the data is stratified prior to making a surface assumption of the material at hand.
As ABC’s online business reporter <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-08-30/janda-home-ownership-and-future-aged-underclass/4924862" target="_blank">Michael Janda</a> points out in his own balanced assessment of the ABS release, there are some distinctive trends worthy of appreciation prior to drawing a conclusion that housing has never been more affordable.
Firstly, home ownership is falling.  In 1994-1995, 71% of Australian’s owned – or were servicing a mortgage – and the proportion of households renting - 18%.
By 2011-2012 the ownership rate had dropped to 67% with a relatively steep rise in the number renting at 25%.
Families with children (one of our biggest demographic of buyers) in particular seem to be suffering.  The decrease of ownership for this demographic has fallen over the latest census period from 79.5% in 2006 to 77.2% in 2011.
There are a number of factors that have played into the percentile changes. Firstly on issues of supply - restrictive growth boundaries, hefty development overlays in new estates, along with a woeful lack of planning for population growth and the consequential reluctance of home buyers to move outwards, has produced a downward slide in the number of new dwellings completed per annum, and further inflated the capital price of the stock marketed.
For many first home buyers, the choice, price and location of accommodation offered in these areas, where commute times are inflated as infrastructure development fails to keep pace - gives no incentive to buy in outside of various government grants - and based on historical data, it’s fair to conclude if they do purchase a house and land package, the growth of the underlying asset base of their investment in the new estates, will unlikely improve much past the rate of inflation – hamstringing the ability to progress or upgrade when desired.
When older generations purchased – the outer suburbs were some 10/15 kilometres from established job and commercial hubs, not the 40 plus kilometres we see today, and financial deregulation, the emergence of duel income households, and the very real realities of our golden decades of growth, assisted their steps up the property tree to the current environment in which baby boomers hold roughly half of Australia’s housing stock – a mix of owner-occupied dwellings and investments – many relying on the value of their properties to fund retirement.
Another direct consequence of our now inflated values, buoyed further by restrictive supply, and policies such as negative gearing - which encourage investors to speculate in the established arena, thereby inflating the value of second hand stock - is a national rise of 49.2% in yields over the five year census period (not accounting subsequent increases) – which outpaced growth in home loan repayments for the same duration.
Other trends indicating affordability pressures – (although agreed cultural tendencies also play a hand) – is between the 2006 census and the 2011 census, the single-person household was no longer the fastest rising demographic.
In the 2011 results, lone-person households dropped from 24.4% to 24.3% - this was the first decrease in this statistic since the census was initially conducted in 1911 – over 100 years – and therefore requires attention.
Against this group households (those sharing accommodation) jumped from 3.9% to 4.1%.
Crowded houses – with three or more families sharing accommodation, also rose nationally by 64% to 48,499, and other data from the ABS shows that over 40% of renter households receive some form of housing assistance - once again emphasising the growing crisis in this sector of our community.
With the decreasing proportion of first-home buyers as a share of the active buying market, commitments of which are down 10.6% year on year, along with reports that significant numbers are now initially entering into their first purchase at the age of <a href="https://www.news.com.au/realestate/firsthome-buyers-in-their-forties-are-a-growing-breed/story-fncq3era-1226708852405">post 40 years</a>, you have to question the stubborn refusal from market commentators to recognise we have a problem worthy of attention.
The AFG data I cited above also notes the drop in the proportion of first time buyers, and is no doubt mirrored by other lenders.
According to their figures, the share is down to 11.3% nationally from 15.9% at the same time last year – and although various state grants and incentives play into the peaks and troughs, the percentage drop in New South Wales is appalling – down from 13.1% in August 2012, to 4.3% as recorded last month.
Another mistake made when assessing affordability, is to concentrate only on the principle cost of the home and the percentage of income needed to service the repayments.
However I sometimes think a better assessment would be to take into account what’s left over post housing costs, and whether it’s enough to afford the actual non consumer price index cost of living.
It’s not only commodity prices that have spiked, for example gas and electricity, but an overload of other essentials such as insurance premiums, housing maintenance costs or owner corporation fees, school fees and child care for working mothers, medical and dental expenses and so forth – transport costs are substantial for those commuting daily as are the needs of a modern generation who enter commission/performance based jobs which expect them to have 24 hour access to mobile phones and email.
A privilege I have in my job, is meeting, assisting and talking to current first-home buyers (usually couples – singles are all but priced out) looking to get a foot hold. It’s a pleasurable aspect of my work due to the excitement expressed when a successful purchase is achieved.
Albeit, the conversations I have with both first home buyers and renters, keep my feet firmly on the ground in relation to the difficulties achieving the oft quoted dream of ownership – it is also what inflames my anger when I read reports such as that offered by <a href="/news">Terry Ryder</a> last week – questioning so called false perceptions that Australia’s housing is unaffordable.
I suspect we see things from a different frame of reference.
For this reason, and others, I attended the 122nd annual Henry George commemorative dinner at the Royal Society of Victoria, Melbourne – to listen to respected economist Saul Eslake give a excellently orated speech, entitled <a href="https://www.prosper.org.au/2013/09/03/saul-eslake-50-years-of-housing-failure/" target="_blank">“50 Years of Housing Policy Failure.”</a>
As well as his role as chief economist for Bank of America – Merrill Lynch Australia, Eslake is also deputy chair for the National Housing Supply Council – set up by the Australian government to “improve housing supply and affordability” for both home buyers and renters.
He is therefore suitably qualified to provide a detailed assessment the data which is all but ignored by those mentioned above.
As Eslake comments:
“..the decline in home ownership has been even more pronounced when one ‘looks through’ the effects of the ageing of the population, which (among other things) means that an increasing proportion of the population is within age groups where home ownership rates are always (and for obvious reasons) higher than in younger age cohorts.”
The transcript and slides of Eslake’s speech can be found <a href="https://www.prosper.org.au/2013/09/03/saul-eslake-50-years-of-housing-failure/" target="_blank">here</a> - an absolute must read.
Our affordability issues cannot be solved over night.  The distortions in the market need to be slowly unpicked and the various suggestions by Eslake regarding supply and tax reform, implemented.
However, as <a 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" target="_blank">I’ve written previously</a> – the reason we have asset bubbles is a direct consequence of our current debt-based monetary system, and in this respect, I hold the opinion that you cannot tackle the health of the housing market without also addressing the disease that funds it.
 
<hr>
 Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
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Is Australia’s housing market unaffordable? Catherine Cashmore

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With values once again rising across most capital cities, RP Data has looked at the capital city locations within 10 kilometres of the city centre where you can still purchase relatively affordable homes.
Many of us want to live close to the city centre or near the water, the sad fact of the matter is that these homes are in short supply and tend to cost a lot. With capital city home values once again starting to climb, we look at the areas where you can buy at a relatively affordable price point compared with many other inner city suburbs.
As you will note, these suburbs are not the most prestigious or highly sought after however, they do enjoy close proximity to the city centre. They also often have high levels of nearby amenity and in some instances are extremely well catered to by local infrastructure.
It is also interesting to note that although houses may be too expensive for price sensitive buyers, a unit can offer the same high level of amenity and in most instances at a significantly lower buy in price than purchasing a house.
Looking across the capital cities, we can see some divergences on a city-to-city basis as well as between houses and units when looking at the suburbs with the lowest median value within 10 kilometres of the CBD.
Sydney
St Peters is the most affordable suburb for houses within a 10km radius of the Sydney CBD. Located 5.7km from the city centre it has a median value of $645,681. For units, values are much lower with Darlington the most affordable with a median value of $292,271. There are 99 Sydney suburbs within a 10km radius of Sydney with a lower median unit value that the St Peters median house value. 
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Melbourne
Bellfield is Melbourne’s most affordable suburb for houses within a 10km radius of the CBD with a median value of $493,685. Carlton has the city’s most affordable units within 10km of the city centre with a median value of $232,453, keeping in mind most units in the suburb are student accommodation. 49 suburbs within 10km of the Melbourne city centre have a lower median unit value than that of Bellfield’s median house value. <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=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" target="_blank"></a>
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Brisbane
Brisbane’s most affordable suburb within 10km of the CBD is Rocklea, it has a current median house value of $298,796. Chelmer has the most affordable units within 10km of the city centre at $306,415. Rocklea house values are a bit of an outlier because it was severely inundated by floods, if we look at house values in Chermside West ($418,735), 68 suburbs within 10km of the city have a lower median unit value than median house values in Chermside West. <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=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" target="_blank"></a>
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Adelaide
Dry Creek which is located right on the edge of a 10km radius of Adelaide has the lowest median house value within this region at $244,971. Ottoway has the lowest median unit value within a 10km radius of the city centre at $204,091. There are 18 Adelaide suburbs within 10km of the city centre with a lower median unit value than Dry Creek’s median house value. <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=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" target="_blank"></a>
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Perth
Cannington has Perth’s lowest median house value within a 10km radius of the CBD at $413,925. There are 20 suburbs within the same region that have a median unit value lower than this figure, the lowest of which is found in Glendalough ($324,219). <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=5c591a8916642e73a5fbb79006cdd00de47653d7b07e3eea333fae253ede94c147051814a4736e0ae9da76077e9c069f48ed83759fa5d797000a351a204a9b812a3f8dfcae176c34f99fdc21b8a5212108e73015be209cc5dfdbfdea89c7158bd8cd141b6372558efbe59e605890a80a77dc93227028d3b59ecfbc151aa595a9e7a6a8b733640ae69f6f424cd77477084b44ef759b10378e31da74011d9b7b2639c9006306ced670551d79e95d76b8a424ade0d1712a97ff786c929fbda52ca4bc161b7b7e35c320bddb6ed52d1f7961b38028da67384c1b439324766f9fa5d7927cee02ae5304c2293683466664b2930b400797504a0f52d7ba55b1a45c506d" target="_blank"></a>
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Hobart
Hobart’s most affordable suburb for houses within 10km of the city centre is Clarendon Vale with a median value of $151,089. For units, the most affordable suburb within the region is Glenorchy with a median value of $190,387. Hobart is the only capital city in which the most affordable suburbs for units within 10km of the city centre is more expensive than the most affordable suburb for houses. <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=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" target="_blank"></a>
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Darwin
Farrar is the most affordable suburb in which to purchase a house within 10km of the Darwin CBD with a median value of $514,344. The most affordable suburb for units is Alawa with a median value of $331,650. There are 16 Darwin suburbs within 10km of the CBD which have a lower median value for units than Farrar’s median house value. <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=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" target="_blank"></a>
<img src="/images/stories/2013/09/09/nt-sept-9.gif" width="470" height="79" alt="nt-sept-9">
Canberra
The most affordable suburb for houses within a 10km radius of the Canberra CBD is Crace with a median value of $372,672. There are 15 suburbs within a 10km radius of the Canberra CBD that have a median unit value lower than the median house value of Crace, the most affordable of which in Hughes ($209,269). <a href="https://pages.e.rpdata.com/Redirect.aspx?EQ=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" target="_blank"></a>
<img src="/images/stories/2013/09/09/act-sept-9.gif" width="470" height="77" alt="act-sept-9">
As you’d expect, house values in the inner city areas are quite high. This is due to strong demand for houses in these regions and the fact that areas closer to the city typically have the best amenity and superior infrastructure. Inner city units offer the same benefits at typically a much lower price point, as a result it is no wonder the popularity of inner city units continues to grow.
 
<hr>
 Cameron Kusher is senior research analyst at <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/">RP Data</a>.
 
Image courtesy of Michael Renner/flickr.
 
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Affordable opportunities 10 kilometres from capital cities' CBDs: Cameron Kusher

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Despite some cooling in commodity prices and job losses, Australia’s mining party is still in full swing.
For property investors, hearing about a new mining project really gets the corks popping because a new mine can mean demand for accommodation skyrockets, rents can go through the roof and property values can start to look very peachy indeed.
But a new mine announcement does not always mean a new mine will be built. And a new mine coming to town does not always means its workers will look for local housing.
Here are five tips to making the right move when investing in mining towns.
Wait for the green light. In the mining industry, the approval process for building a new mine is long and complicated. The time between project announcement and start of construction can be several years.
When you look at the long list of factors in the approval process, it’s obvious how hurdles are hit and plans are scrapped. Competing land use challenges, native title, water supply, fauna and flora impact, land contamination, waste disposal, effects on marine life, and general environmental impact all need to be dealt with. Some issues can take years to resolve, involve masses of government red tape, create conflicts in communities, and sometimes just become too difficult for mining companies to pursue.
Meanwhile, the economic landscape changes around us. In our post-GFC world, there are other complications, too. Some companies are finding it harder to secure funding or to gain final investment approval from their board. Costs can blow out because companies are paying interest on loans for projects that haven’t yet started to make money or there are higher wage costs resulting from a shortage of skilled local labour or trade union demands.
The problems are real. In fact, I’m seeing an emerging trend of mining companies putting ego aside, sharing infrastructure, and doing joint venture agreements on some projects in an attempt to trim costs and make projects more economically viable.
If return on your investment is highly dependent upon specific projects it’s important to wait for that green light.
Do your research. Understand exactly what the mine is and how it will operate.
Look closely at its workforce requirements; How many workers will it need? What roles will they perform? How long will they be in town? Where will they be living – conventional housing or on site in temporary employer-supplied villages? Will the impact on local goods, service, and accommodation be sustainable or short-lived? Will the departure of the construction workforce and the arrival of the (often smaller) mining workforce reduce your rental returns? Is there likely to be a glut of housing once this occurs and high vacancy rates as a result?
Know the mining industry. According to Geoscience Australia, Australia produces significant amounts of 19 different minerals from almost 400 operating mines across the country. Coal and iron ore are Australia’s biggest export commodities, but liquefied natural gas is a major growth market and copper is also significant.
Mining is big business, but commodities are, by nature, volatile and their prices rise and fall for a wide range of reasons. It’s standard practice in the mining industry to recruit workers when prices are high (to maximise the amount of resource they can get out of the ground to sell at high prices) and to lay off large numbers of workers when the price of the commodity falls.
Vacancy rates obviously take their lead from the workforce. These cycles can be deep, bringing high peaks and low troughs.  An astute investor will be aware of these fluctuations and insulate against them by choosing a location that relies on more than a couple of mines so their pool of potential tenants is large and diverse.
Get in on the ground level. The best time to make a move is just prior to the start of mine construction.
Constructing a new mine and associated infrastructure generally needs a mass of skilled workers. There can be processing plants, railways, pipelines and ports to be built and create direct jobs.  Indirect jobs also come in the form of businesses supplying manufacturing components, heavy vehicles and machinery, and shops in town.
If a property investor times it right, they’ll be buying just as those jobs are being advertised and the people are starting to roll into town. Once the mine is built, it’s onto the business of mining, which sees the workforce change and downsize to those mine workers who will extract the coal, iron ore, copper or gas, and transport it away for processing and exporting.
If you’ve bought in, you’ll already know from your research who these people are and where they are coming from. You’ll know that your rental property is a likely candidate for their accommodation and there will be sufficient numbers of potential tenants to generate some competition for housing.
Understand what a ‘high-performing investment property’ means in a mining town.
A high-performing investment property is one that consistently produces above average rental returns and capital growth over the long-term. To attract those two factors, a property needs to be in a place where the tenant pool is significant, the infrastructure is established and of high quality, and the economic outlook is positive, with plenty of growth drivers from a diverse range of industries pushing it along.
A lot of traditional mining towns only exist because of a few local mines and are therefore unlikely to present high-performing investment properties to the market. They don’t have the infrastructure or the diverse economy.
If, however, the mines are already in, or coming to, a town which has a range of other industries, such as tourism, agriculture or education for example, and the infrastructure to support these industries and their workers is in place, then the location will benefit enormously from the addition of mining to the mix—and a property investor is likely to benefit enormously from their investment decision.
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I am very selective about investing in mining towns. There have been many times when I have anticipated a strong growth period for a property market on the back of certain mining projects but held off from purchasing property for clients because of my concerns over things such as mine project approvals and a location’s unhealthy reliance on a single industry.
I favour locations with several mines, 10 or more years of life left in the available resources, additional untapped resources directly in the area providing scope for new mines in future, and a few other sustainable industries supporting the economy.
 
<hr>
 Simon Pressley is Managing Director of <a target="_blank" href="https://www.propertyology.com.au/">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and the 2012 and 2013 REIA / REIQ Buyer’s Agent of the Year.
 
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Five tips to make the right moves investing in a mining town: Simon Pressley

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Caydon’s $200 million project and St Kilda’s tallest building, S.T.K., is already 50% sold, ahead of its official launch date later this month.
Located on St Kilda Road, the development will include 309 apartments and 19 townhouses upon completion.
The development is yet to be launched to the public but has secured sales through registrations of interest and previous purchasers of Caydon developments.
The 26-level building, made up of two structures within one façade, will house one- and two-bedroom apartments, as well as two-bedroom dual level rooftop terraces.
<img alt="s.t.k-sept-5-one" height="487" width="470" src="/images/stories/2013/09/05/s.t.k-sept-5-one.jpg">
Two-bedroom townhouses will be located on Barkly Street.
One-bedroom apartments range in size from 50 square metres to 61 square metres and range in price from $380,000 to $527,000.
Two-bedroom apartments range in size from 64 square metres to 87 square metres and range in price from $560,000 to $842,000.
Townhouses on Barkly Street range in size from 68 square metres to 71 square metres and rooftop terrace townhouses range in size from 82 square metres to 100 square metres.
Townhouses range in price from $645,000 to $820,000.
Designed by Eades and Bergman, apartments will feature textured splashbacks, marble finishes, satin chrome fixtures and timber flooring.
Residents will have access to the S.T.K club, comprising of a 20-metre infinity edge pool, gym, steam room, yoga room, business lounge and a library.
“S.T.K’s appeal is its location and luxury build,” says Joe Russo, principal of Caydon.
“S.T.K offers an unrepeatable opportunity to live in this location and our architectural design makes the views a primary consideration with over 70% of apartments featuring incredible water and city views,” says Russo.
Caydon purchased the 2,827-square-metre site for $20.9 million.
Construction is scheduled to commence early next year with an expected completion date of late 2015.
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St Kilda's tallest building S.T.K apartments snapped up ahead of official launch

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General sentiment is that property markets will gain new impetus once this weekend’s election is out of the way. But the big exception will be Canberra. 
   Elections should not matter to property investors, as the fundamentals underlying investment change little. The strange habit businesses and individuals have of delaying decision-making until the outcome is known, as if election results are game-changers, never makes much sense.   Recently-published research on the pattern of market activity and price growth before and after elections shows there is no pattern. Prices have stalled before some elections in the past, while there has been strong growth in the lead-up to other polls.   This year we have seen solid growth in many markets, in defiance of the popular view that prices stagnant when elections are called.   Regardless of who wins Saturday’s contest, Australia has a fundamentally solid economy, low unemployment and attractive interest rates. Nothing will be different next week.   The investment plan I have this week will be the same one I’m implementing next week.   The only difference will be in sentiment. Consumer confidence tends to lift when there is a change of government, as appears likely.   That won’t be the case in the ACT, however. Stand by for some earth-quaking changes.   It’s pretty clear whoever wins will put the cleaners through the federal public service, particularly if we have a Tony Abbott-led government on Monday morning.   Canberra generally has the most consistent city market in Australia. It often has the lowest unemployment and the highest average incomes in the land. That provides a solid under-pinning for property markets.   Currently, the ACT unemployment rate is 3.6%, well below the national average of 5.7% and easily the lowest among the states and territories. And, over the past two years, wages have growth in the ACT considerably faster than the national average.   The Canberra market, overall, has returned to growth in 2013, in keeping with national trends. While its growth has been a little below average (3.8% in annual growth in dwelling values, compared 5.3% as the capital city average, according to the latest figures from RP Data) it has still been solid.   All that will change when a new federal government gives public service numbers a short back and sides. The main public sector union, the CPSU, says around 8,000 public service jobs will be lost under an Abbott government, removing $650 million annually from the Canberra economy. Documents published in the media indicate the Coalition initially plans to cut 6,000 positions, with more to come later.   This would replicate the actions of Liberal state governments as they have taken over in Victoria, New South Wales and, especially, in Queensland.   The Australia Institute think tank says the ACT is facing a recession as a result of Coalition reductions to the public service. It predicts between 6,000 and 12,000 jobs will be axed.   This week the ACT and Region Chamber of Commerce and Industry reported that business confidence in the future of the ACT economy was “in free fall”. Its survey found that most expect the economy to weaken, with employment levels and profits falling or, at best, stagnating.   Canberra, therefore, is a market to avoid. Prices are likely to fall.


<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 him at <a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a> or <a target="_blank" href="https://twitter.com/hotspotting">twitter.com/hotspotting</a>.
 
  
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Canberra needs to stand by for some earth-quaking changes:  Terry Ryder

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Her Majestys boutique apartment complex in South Yarra officially launched over the weekend after a redesign hurdle put marketing on hold.
Developed by Bravo Properties Developer, the complex will feature 16 boutique apartments, including four penthouses.
Prices range for $875,000 to $2.45 million.
Chief executive and managing director of Bravo Properties Gary Ebeyan says the launch went well.
"We have three potential sales, two of them being penthouses.
"Most developments are 80% rented out, I think Her Majesty's is attracting people who want to have less people renting in the building.
"Majority of people looking at the development have been owner-occupier. I think there will be one, two or maybe three max who are investors," says Ebeyan.
The original design featured 10 apartments and didn’t proceed due to expensive amenities getting in the way of potential buyers.
“Buyers didn’t want to pay that much, so we redesigned to bring the prices down,” says Ebeyan.
“We adjusted to look after what the market wants,” says Ebeyan.
Located on Davis Avenue, apartments will feature terrazzo or parquetry flooring and almost three-metre high ceilings.
The kitchens will include a centrally located marble bench with European appliances.
Residences will have access to a fitness centre and spa.
Hacer Group were appointed as builders in October last year.
<a target="_blank" href="https://bravoproperties.com.au/hermajestys/">Her Majesty’s Apartments</a> were marketed in 2011 as being finished in October 2013.
Apartments are now scheduled for completion in November 2015.
South Yarra Real Estate have been appointed as selling agents.
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Her Majestys South Yarra relaunch after redesign hurdle

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Hotspotting, or finding the best suburb in which to purchase an investment, is a crucial skill of every property investor. With the market heating up, it's only natural that competition in finding these locations has started to skyrocket.
A couple of weeks back, <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/rich-harvey-s-top-ways-to-find-a-hotspot/2013090364762">we spoke with Rich Harvey</a>, managing director of independent buyer’s agency <a target="_blank" href="https://www.propertybuyer.com.au/" rel="nofollow">propertybuyer.com.au</a>.
Harvey is a licensed real estate buyer’s agent, experienced property investor and professional economist. The propertybuyer.com.au team has purchased over 1,100 properties in total.
Here are some questions he asks:
<ul style="font-size: 14px;">
<li>
What are the key drivers of the local market?
</li>
<li>
What property types are in the highest demand?
</li>
<li>
What price points are optimal?
</li>
<li>
What is the average yield and growth?
</li>
<li>
What streets should I avoid?
</li>
<li>
What has changed in the area in the last ten years?
</li>
<li>
What is likely to change in the near future?
</li>
<li>
What are the clear tractions that bring people to this suburb?
</li>
</ul>
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Rich Harvey's eight hotspotting must-ask questions

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A syndicate of South African investors has purchased the Sherwood Court convenience centre in Brisbane’s south-western suburb of Sherwood for $3.9 million.
The Sherwood Road centre was sold with one vacancy but based on the centre's estimated fully leased income, the yield would represent 8.3%.
The vendor of the property was Larrapinta Pty Ltd, a company linked to private family holdings of Ken Woodley - the co-founder of Metro Property Development. Mr Woodley purchased the centre in 2003 for $2.6m.
Michael Harcourt and Peter Chapple of Savills negotiated the transaction.
Sherwood Court has a total net lettable area of 696 square metres and comprises a modern convenience centre, incorporating a mix of retail and service tenants including Bank of Queensland and Australia Post.
Mr Harcourt said the centre was underpinned by solid rental and income growth into the future and also benefited from high-profile exposure.
"Quality convenience retail centres in prominent metropolitan locations are continuing to attract strong interest from private investors, self-managed super funds and smaller syndicators," he added.
The South African buyers of Sherwood Court also own the adjoining ANZ Bank building and a third retail asset in inner Brisbane.
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