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.

Joel Robinson

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

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>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

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

<html><body>Australian Property Monitors (APM) has released a list of results from 291 auctions in Sydney for the weekend of July 27. The clearance rate was 80.8%. <a rel="nofollow" target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Sydney 291 auction results show a 80.8% clearance rate

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Construction on Botanic Lane Cove has now commenced, as apartment sales reach 75%.
Developed by Greenbush Group, <a target="_blank" href="https://botaniclanecove.com.au/">Botanic Lane Cove</a> has sold 60 of its 79 apartments after the development launched in February this year.
“We’ve been pleasantly surprised by the incredibly high level of interest,” says Peter Walsh of Greenbush Group.
“We’ve found that the majority of our buyers are owner-occupiers, but investor interest is solid too.
“While we’ve had a lot of local interest, Botanic has also captured attention from buyers in country New South Wales wanting a Sydney base, and also expats returning to Australia,” says Walsh.
Located less then 10 kilometres from the Sydney CBD, Botanic offers studio, one-, two- and three bedroom apartments as well as seven penthouses.
Two-bedroom apartments are still available starting from $831,000 and three-bedroom apartments are also available, starting from $1,107,000.
Walsh says Greenbush Group expects the remaining apartments to be snapped up quickly.
The apartments boast oak floors and Carrara marble in both the kitchen and bathrooms.
The project is designed by Mijollo International with interiors designed by SJB Interiors.
Walsh says the name Botanic was chosen due to the complex being bound by large mature trees and landscaped gardens.
“We wanted to achieve a sense of garden by tying in the name,” says Walsh.
The median apartment price in <a target="_blank" href="/news">Lane Cove</a> is $545,000, a 23.3% change in five years, according to RP Data.
The development is expected to be completed towards the end of 2014.
<a href="https://www.propertyobserver.com.au/developments/sydney-s-lane-cove-proves-an-apartment-construction-hotspot/2013040759968" target="_blank">Lane Cove is proving to be a development hotspot </a>with $388 million worth of construction underway and more than $37 million yet to come.
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Botanic Lane Cove 75% sold as construction commences

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In response to  Australian Property Investor's  list of 152 "bulletproof" suburbs, Property Observer regular <a href="https://www.propertyobserver.com.au/hotspots/a-suburb-can-show-consistent-gorwth-year-after-year-but-nowhere-can-be-labeled-bulletproof-terry-ryder/2013072463538?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=hotspotting'sterryryder" target="_blank">Terry Ryder wrote yesterday</a> that while there are certainly markets that show consistent growth year after year, a bulletproof suburb doesn't exist.
Terry Ryder said that "the data is not the problem... but I find most people believe what the media tells them and they will be entering dangerous territory if they buy in some of the places carelessly labeled as bulletproof".
{module Do you think that any suburb can be claimed to be bulletproof price wise?}
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Do you think that any suburb can be claimed to be bulletproof price wise?

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Investor magazines' 2011 unit hotspots are more misses than hits two years on

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As our property markets show signs of life again, many investors recognise that this cycle will be different to the last; it will be a cycle of more subdued growth.
In order to outperform the markets one of the most common questions is “where’s the next hotspot?”
People who ask my opinion are usually disappointed that firstly, I don’t know and secondly, I don’t really care.
I’m not in the business of speculating.
Instead, I make my investment decisions based on proven long-term performance, rather than short-term speculation.
The fact is hotspotting – seeking out the “next big boom” location – is speculation and not true property investment.
If you look at the track record of people chasing the next trend it’s been pretty poor.
On the other hand to “invest” in property requires the intention of generating long-term capital growth that tracks above average long-term price growth for the area.
Now, here's what I find interesting: a lot of the hotspots predicted by some of Australia’s property analysts turned out correct.
Some of the regional areas and mining towns boomed, at least for a while as investors chased up prices but, unless they got the timing right, chasing the next hotspot has turned out disastrous for many investors.
Some are left with properties worth considerably less than they paid and with less rental income than they expected. Now, they are unable to sell their properties as buyers have abandoned these markets which have little depth from local demand.
If you're into investing in short-term trends, being right isn't what's important, it's being right at the right time that counts.
Very few can do that, so the history of investors trying to find the next boom town is littered with people who get the story right and the outcome wrong.
Instead I buy in areas that have a proven long-term history of outperforming the average capital growth and are likely to continue to outperform because of the demographics of the people living in the area.
And I like buying the property for the right price - below its intrinsic value.
Hotspotting is virtually the opposite of this sensible, not-so-sexy, tried and tested system for successfully building a property portfolio.
 
<hr class="system-pagebreak">
Let’s have a closer look at a few other reasons why I steer clear of looking for hotspots:
1. Hot spotting is about short-term speculation, not long term wealth creation.
Most property investors are trying to build their asset base so that one day it can replace their personal exertion income.
The key to building a substantial property portfolio is to use your first property to leverage into your next property and then use those two properties to leverage into more investments, and so on.
You will only have the ability to do this if you invest in locations that consistently provide long-term capital growth.
By definition, ‘hotspots’ are not these types of areas.
Just as quickly as they heat up, property values in these locations can come off the boil and cool very quickly.
Just look what happened to many mining towns and sea change locations, such as Mandurah.
2. Hot spotting often means following the crowd and more often than not, the crowd gets it wrong!
Many people trying to buy in the next hotspot get their advice from online reports or “get rich quick” seminars and in the short-term some of these predictions are self-fulfilling.
If you suddenly get a diverse group of investors buying up in a small town that has little market depth, this tends to push up prices “proving” this area really is a hotspot.
What’s really happening is that you’re seeing an over-inflated market that more often than not, is unsustainable in the long term.
Some of our mining towns, the Gold Cost and Sunshine Coast are great examples of this phenomenon.
On the other hand strategic investors buy counter cyclically, when others are afraid to get into the market.
3. Hotspotting requires accurate timing, yet most investors don’t have the necessary knowledge to know when it’s the best time to buy.
Some hotspots have excellent potential to generate long term capital growth, but these are rare.
For example, there’s the inner-city suburb that’s yet to take off because while it’s on the verge of gentrification, yet it still has an air of industrialisation.
Some investors can pick these areas before the market takes off, but timing markets like this is difficult.
The real problem is that by the time you find out about the next hotspot, it may be too late to benefit from that substantial early growth.
Or the opposite could be true. You might end up jumping in too early and not reaping the rewards for many years while in the meantime, your money has been tied up and you’ve missed out on real opportunities in proven areas.
A great example of this is the inner western Melbourne suburb of Footscray, which has been “going to improve” for the last 35 years but just hasn’t!
 
<hr class="system-pagebreak">
4. Hotspotting is usually based on opinions rather than facts.
When you read articles in the media or hear reports on TV that suggest an area is about to take off as the “next big thing”, in reality you’re simply just being given someone’s opinion.
Be careful, are they biased because they have properties to sell and it suits them to be spruiking a certain area?
You’re better off to rely on your own research and due diligence, rather than blindly accepting a so-called expert’s potentially biased advice.
5. Hotspotting can generate short-term inflation in suburbs that can’t sustain a high level of price growth over the long term.
Today’s hotspot could be tomorrow’s over heated market.
For example, when the resources boom hit Western Australia and far north Queensland, thousands of investors jumped on the bandwagon and bought into the mining towns that sprung up overnight and became a buzz of activity.
But now that the resources sector has cooled off, many of these towns have gone from boom to bust as the major industry supporting the local economy came crashing down.
I know of many investors who are still having trouble offloading their under performing properties in these mining towns and regional centres which recently were called hotspots.
My suggestion is avoid the excitement of hotspots.
This may make your investment boring, but it allows the rest of your life to be more exciting as you growth your wealth.
So what is the alternative?
To ensure I buy a property that will outperform the market averages in the long term; I use a Four Stranded Strategic Approach:
<ol>
<li>
I buy a property below its intrinsic value.
</li>
<li>
I buy in an area that has a long history of strong capital growth and one that will continue to outperform average capital growth because of the demographics of the people living there. I look for affluent areas where people are prepared and can afford to pay a premium to live, or gentrifying areas where a wealthier demographic is moving in and pushing up prices as they improve the area.
</li>
<li>
I look for a property with a twist – something unique, special, or a bit different or scarce about the property.
</li>
<li>
And I look for a property where I can manufacture capital growth through refurbishment, renovations or redevelopment.
</li>
</ol>
By following this approach I minimise my risks and maximise my upside.
Each strand represents a way of making money from property and combining all four is a powerful way of putting the odds in my favour.
If one strand lets me down, I have two or three others supporting my property’s performance.
Michael Yardney is a director of <a href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Strategists</a>.
 
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Hotspotting is speculation and not true property investment: Michael Yardney

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Mirvac is teaming up with Belle Magazine to create three pop-up display apartments at their Sydney Harold Park development, representative of groups of people at different stages of life.
Belle interior designer and editor Steve Cordony has designed the first of the display apartments, which is targeted at the young sophisticate.
One bedroom apartment pictured below
{yoogallery src=[images/stories/2013/07/july26HP1]}
Cordony has used sample furnishing from Coco Republic, Cavit &amp; Co, Cadrys and Great Dane to name a few and has used a mix of raw and polished textures.
The young sophisticate is “brand conscious and wired to the rhythm and pulse of the city.”
Two bedroom apartment pictured below
{yoogallery src=[images/stories/2013/07/july26HP2]} 
Mirvac national marketing and sales director Diana Sarcasmo says there is a huge emotional investment in buying a home and that needs to be reflected in the communication with potential buyers.
“This form of experiential marketing gives our clients an opportunity to feel included in what we are doing and, through the partnership with Belle, reinforces the brand values of Harold Park,” says Sarcasmo.
Three bedroom apartment pictured below
{yoogallery src=[images/stories/2013/07/july26HP3]} 
<a href="https://www.propertyobserver.com.au/new-south-wales/mirvac-to-pull-forward-harold-park-project-sales-and-construction-goldman-sachs/2013050761121" target="_blank">Mirvac is transforming the former Harold Park Paceway </a>into a $1 billion-plus infill housing development.
The Harold Park master plan allows for 1,250 dwellings with a 208,000 square metre network of landscaped parks.
<img alt="haroldparkmay8one" height="264" width="470" src="/images/stories/2013/05/haroldparkmay8one.jpg">
“Harold Park has the distinction of offering the perfect lifestyle to a great range of people.
“That is due to a combination of factors – proximity to the city, parkside location, access to public transport and integrity of design.
“This has resulted in an incredibly broad mix of people buying at Harold Park.
“The apartments and terraces have been designed to reflect this diversity and we are giving further expression to it through the Life Series,” says Sarcasmo. 
<img alt="haroldparkmay8two" height="261" width="470" src="/images/stories/2013/05/haroldparkmay8two.jpg">
Belle editor-in-chief and judge on The Block Neale Whitaker launched the collaboration at an event at Harold Park on Tuesday night.
The <a href="https://haroldparkbymirvac.com/contact-us" target="_blank">pop-up display</a> in Glebe will run from July 25 to July 28.
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Belle Magazine and Mirvac join forces at Harold Park development

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Crunching ABS data can be key to investment success: Jo Chivers
Ok, you can call me a nerd if you like, but I love checking out the Australian Bureau of Statistics (ABS) website, there is some really cool stuff on there.
Tick-tock...it’s the population clock.  This is fun, you can see each hour the population clock tick over with real population data. On 9 July 2013 at 05:24:38 PM (Canberra time), the resident population of Australia was projected to be:  23,110,108.
<a target="_blank" href="https://www.abs.gov.au/ausstats/abs%40.nsf/94713ad445ff1425ca25682000192af2/1647509ef7e25faaca2568a900154b63?OpenDocument">Check it out</a>:
<img height="208" width="470" src="/images/stories/2013/07/chiversjuly12one.jpg" alt="chiversjuly12one">
Another fab thing is the animated population pyramid. This shows a cool graph of male and female populations by age group. You can click on the ‘view surplus’ button to see surpluses of ladies or gentlemen, by age, by state, so if you’re looking for a partner, perhaps start your research here!
There is a button you can click that animates the graph; you can see the population by gender from 1971 – 2056. It’s interesting to watch the shape of the graph change as you move through the years. This is a<a target="_blank" href="https://www.abs.gov.au/websitedbs/d3310114.nsf/home/Population%20Pyramid%20-%20Australia">good tool to check out</a> when thinking about population demand for housing.
<a href="https://www.abs.gov.au/websitedbs/d3310114.nsf/home/Population%20Pyramid%20-%20Australia"><img height="415" width="470" src="/images/stories/2013/07/chiversjuly12two.jpg" alt="chiversjuly12two"></a>
What I actually went to the ABS website for, before being distracted by clocks and animated graphs, was to check out the latest population growth data for the Hunter Region of NSW.
You see the ABS recently released its small area population estimates for the year ended June 2012.  This is the first insight into population change at smaller areas of geography since the 2011 Census.  Here are my key findings:
STATE SUMMARY
At June 2012, the estimated resident population of New South Wales was 7.29 million people. Between 2011 and 2012, the NSW population increased by 78,900 people (or 1.1%). This was the third largest growth of all states and territories, behind Victoria and Queensland.
At June 2012, just over one-third of NSW residents lived outside Greater Sydney and this increased by 17,600 people in the year to 2012, to reach 2.62 million.
The Hunter Valley (excluding Newcastle) had the largest and fastest population increase in the remainder of NSW (up 4,500 people or 1.8%) in 2011-12. The next largest increase was in adjacent Newcastle and Lake Macquarie (up 3,100 people), followed by Central West (2,100) and Capital Region (1,600). The only area to decline was Coffs Harbour - Grafton on the mid-north coast, down 90 people.
Maitland – West had the fifth largest growth after four Sydney areas. Thank you, we’ve been developing here for some time.
Large growth was recorded near the Australian Capital Territory, in the Hunter Valley and in the Central West.
The ABS is full of important information, at a click of a key I found some industry data for one town Property Bloom works in. It was interesting to see the breakdown by industry by employment. The top employer in this town was manufacturing, closely followed by retail. Now if I asked someone on the street, they may have said tourism as number one and mining close behind. So what sometimes seems obvious is not always the reality.
It’s important to take a ‘big picture’ look at the areas you invest in. That’s what Property Bloom does; we research populations, vacancy, median sales price, and long term sales data and combine it with what we hear on the street and from talking to our agents.  From this, we work out the best locations for our client’s developments.
Whilst it may not seem immediately relative, if you cross check the statistical data with qualitative research i.e. what you find going on in the market, it all makes for some good, solid backing to why you should be investing in that location.
Jo Chivers is director of <a target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom" style="font-size: 14px;">Property Bloom</a>, which manages property development.
 
<hr class="system-pagebreak">
Differing interpretations of building approvals data shows it's best to stick to a longer-term view: Terry Ryder
Building approvals are up 7% - or down 3%. It’s all a question of attitude.
Figures from the Australian Bureau of Statistics on residential building approvals in May give different perceptions depending on which set of numbers you prefer: in trend terms, the number of dwelling units approved rose 1.0% compared to April, but in seasonally-adjusted terms they fell 1.1%.
Annually, they rose 7.1% in trend terms but fell 3.2% in seasonally-adjusted terms.
Media being media, many outlets focused on the negative numbers – such as: “Building approvals fell more than expected in May, according to the ABS.”
But some emphasized the positive. AAP, for example, reported: “A recovery in the home building sector seems to be taking hold, with approvals for houses gaining for the fifth month in the row. Approvals for detached houses rose 2.5% in May. HSBC chief economist Paul Bloxham said the gain was a positive sign for the housing sector. It shows that other part of the economy, beside mining, are getting stronger.”
Master Builders Australia took a generally balanced view: “Building approvals figures released by the Australian Bureau of Statistics show mixed signals, some positive … Peter Jones, Master Builders Australia's chief economist, said the positive is that approvals are up 9.9% in the five months to May from the corresponding period a year ago.”
We take a similar view at Hotspotting, believing that the long-term trends are the most significant factor with statistics, rather than month-to-month fluctuations.
The trend graph from the ABS shows approvals of new dwellings rising strongly since the beginning of last year – from less than 12,000 per month to around 13,500 now.
The ABS graphs also show how much the numbers jump around month to month. The longer-term view is always the most informed.
CommSec chief economist Craig James said there have been clear signs of an improvement in housing construction activity in recent months.
"Low interest rates, strong population growth, healthy employment and pent-up housing demand is starting to see the housing sector shake off the shackles and begin a much-needed resurgence," he said.
"Granted it is early days, but the sector is certainly on a recovery path.
"An ongoing lift in approvals would be beneficial for the broader economy, given it is a key forward-looking indicator."
Terry Ryder is the founder of <a target="_blank" href="https://hotspotting.com.au/">hotspotting.com.au</a>
 
 
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Room for Debate: Jo Chivers and Terry Ryder evaluate the importance of crunching the stats

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A futuristic looking apartment complex in St Kilda is the latest collaboration between Pace Development Group and Jackson Clements Burrows architects.
Located on St Kilda Road, The Icon will comprise of a series of six askew cubes sitting atop of each other, housing 118 apartments across 17 levels.
“The artwork ceoncept for the façade intends to address a visual coherency by directly referencing the existing natural topography and coloration of St Kilda,” says Matthew Johnson of Jackson Clements Burrows.
“Each level is depicted in different colour hues variations from earth to sky, which cross references the nature of the geographical and environmental stratums.
“This flux of seasonal change is portrayed through subtle tonal gradation,” says Johnson.
The development is currently 60% sold.
Apartments will feature Miele appliances and Italiana stone bench tops and large balconies with views to Arthurs Seat and the Dandenong Ranges.
Residents of The Icon will have access to the guest lounge, which features a suspended fireplace, wine lockers and a Teppanyaki BBQ deck.
One-bedroom apartments range in size from 46 square metres and start from $395,000.
Two-bedroom apartments range in size from 64 square metres and start from $535,000.
Three-bedroom apartments are 94 square metres and start from $660,000.
“We believe this new residential building will set an exemplar architectural and urban design outcome for an emerging precinct that will be both an exciting and entertaining addition to St Kilda Junction,” says Tim Jackson director of Jackson Clements Burrows.
“It is our belief that The Icon will engage with the surrounding context in a new and positive way and set a pattern of expectation that is deserving of this important intersection both within the context of Melbourne’s history and future development,” says Jackson.
The proposed plans were initially rejected by the local Port Phillip Council, but the rejection was over-ridden by the Victorian Civil and Administrative tribunal.
Jackson Clements Burrows is also behind the design of Carlton's <a href="https://www.propertyobserver.com.au/developments/piccolos-upper-house-carlton-apartment-complex-secures-70-sellout-after-10-weeks/2012112158011" target="_blank">Upper House</a>.
The median unit price in <a href="/news">St Kilda</a> is $450,000, a 15.4% change in five years, according to RP Data.
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Futuristic styled apartment complex, The Icon, set to land in St Kilda

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Thirty-one years writing about real estate has taught me that nowhere is immune to downturns.
Nowhere.




There are certainly markets that show consistent growth year after year and I call them the "stayers". Many of the places I recommend are stayers.



But "bulletproof"? It doesn't exist.



So a magazine cover story that claimed there are 152 bulletproof places across Australia certainly got my attention. I guess that was the general idea; grab people's attention and sell lots of magazines, never mind accuracy or integrity. <img src="/images/stories/2013/07/bulletproof-i-wish-i-wasjuly25small.jpg" width="225" height="315" alt="bulletproof-i-wish-i-wasjuly25small" style="float: right;">



When I looked at the list in Australian Property Investor and saw that it included Moranbah, I knew we were dealing with the usual puffery that property magazines favour to outdo one another.
Moranbah's market is falling so fast, people's heads are spinning. Rentals and yields have halved and its median price has dropped from $750,000 to below $700,000. It has had a fantastic growth record and it will rise again, but bulletproof it ain't.



Then I noticed that the list of the indestructible included four suburbs in Gladstone, another market in serious decline.
Gladstone has an impressive past and a strong future, but it's as susceptible to market dynamics as anywhere else - in this case, an oversupply (vacancies now around 6.5%) generated by overly-zealous developers.



Gladstone had a previous decline around 2009-2010, when the GFC caused a pause in the resources revolution.
It  has shown the kind of volatility common to markets partly or largely dependent on the resources sector and is now into the second market decline in the last five years. It is Australia's No.1 industrial city but it doesn't fit any definition of bulletproof.



In many cases, the list of bulletproof suburbs at the front of the magazine is contradicted by the statistical lists at the back - and that detracts further from the credibility of the front cover flimflam and the magazine that published it.



According to API's stats, Sandhurst in Melbourne has dropped 8% in the 12 months to April. Australian Property Monitors, which provides those stats, records massive drops in the Sandhurst median price in three of the past eight years. If that's bulletproof, I'm looking for a new vest.



There are dozens of similar examples on the API list. 



I should stress that I have no criticism of Residex and the list the research company generated. The 152 locations feature many solid markets and roughly half of them have appeared in Hotspotting reports over the past seven years. They're places with good growth records, in many cases.



I also agree with many of the published comments by John Edwards of Residex. He emphasises the importance of investing in places with diversified economies. He notes the rise in prominence of unit markets, something I have been writing about a lot lately. 



He also points out, and this is extremely important, that the list includes only one million-dollar suburb and that most fall into the affordable category; "this suggests that it's the lower cost properties that are less likely to suffer correction," Edwards says in the magazine.



In addition, he observes the superior stability of markets in regional centres, compared to capital cities; "they don't have a tendency to have any pronounced growth cycle, hence they're less susceptible to value loss and generally have stable growth," he said.



Wholeheartedly agree.



So the data is not the problem - it's the spin the magazine chose to put on it. I find most people believe what media tells them and they will be entering dangerous territory if they buy in some of the places carelessly labeled as bulletproof.



Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">hotspotting.com.au</a> and he will be <a target="_blank" href="/news">discussing the Melbourne property market in detail at the </a><a target="_blank" href="/news">Property Observer</a><a target="_blank" href="/news"> </a><a target="_blank" href="/news">webinar</a> on 31 July.
 
 
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terryryder-YECXbqmri2

A suburb can show consistent price growth year after year, but nowhere can be labelled "bulletproof": Terry Ryder

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The $290 million development Jaques in Richmond by Riverside Group and Macquarie Real Estate Funds has released stage two, after the successful sell-out of stage one.
Located only three kilometres from the Melbourne CBD, stage two of <a href="https://www.jaquesrichmond.com.au/home/" target="_blank">Jaques</a> will include 229 apartments spread across two buildings.
The two buildings include the 10-level 5 Tonne Apartments and the six-level Iron Works building.
The 9,945 square metre site on Palmer Street was home to the Jaques rock crushing plant, which eventually sold in 1997.
Apartments range in size from 46 square metres to 170 square metres.
One-bedroom apartments range in price from $380,000 to $435,000.
Two-bedroom apartments start from $535,000 and three-bedroom apartments start from $990,000.
A range of studio apartments are available from $460,000.
The development will feature interiors by Hecker Guthrie Interiors and work by Fender Katsalidis Architects, who was behind the design of Eureka and Republic Tower.
“Jaques is built on a site with a strong local history that’s in the collective fabric of the community,” says Karl Fender of Fender Katsalidis.
“Through adaption, modification and contemporary reinterpretation the original perimeter of the brick wall retained in the design of stage one continues to be the defining feature of Jaques, ensuring the site remains part of the precinct’s urban morphology of Richmond,” says Fender.
Apartments will feature a variety of earthy tones and materials including glass, copper and timber.
Balconies will feature timber paneling on the walls with rendered concrete columns to create industrial features.
“Jaques is being developed on a historic site that was used to built giant rock crushers 100 years ago,” says Paul Hecker director of Hecker Guthrie.
“We wanted to bring to life a sense of this and what was previously there so we derived ideas from the actual industry that occurred on the site and also from the aesthetic of the original buildings,” says Hecker.
Residents will have access to a communal rooftop atop of the 5 Tonne Apartment building, a central courtyard and a gym.
The development will also feature Little Bridge Lane, a retail laneway offering food and retail opportunities for residents and the community.
Stage one – which is 100% sold - is currently under construction and will feature 109 apartments spread across two buildings and 17 townhouses.
“We’re thrilled to continue the Jaques story with the release of stage two where our commitment to delivering a range of high end, quality product that is attainable for a cross section of the community continues,” says Kristine Lee marketing director of the Riverside Group.
Construction for stage two is scheduled to commence in early 2014.
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