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.

Joel Robinson

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]

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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

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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 258 auctions in Sydney for the weekend of July 13. The clearance rate was 81.0% up from 56% last year. <a target="_blank" rel="nofollow" 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 81% sold of the 258 reported results in Sydney, up on the 56% same time last year

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Muswellbrook, in the New South Wales Upper Hunter, has been ranked as one of the country’s 24 “Kevlar-clad areas” that have not experienced backward movement in median price in the last 10 years. The report drew from data compiled and analysed by research house Residex.
Muswellbrook, a mining town 243 kilometres northwest of Sydney’s CBD, has seen steady growth in median property prices over the last decade, according to a report from the August edition of property investment magazine Australia Property Investor.
“It’s been excellent over the last 10 years, prices haven’t decreased, as it’s such a strong mining and agricultural area,” Jay Shepherdson, licensee of JTS Realty, told Property Observer.
John Flood Estate Agent Muswellbrook’s director Sandy Warburton, who has been dealing with Muswellbrook real estate for 18 years, agreed.
“Generally speaking, there hasn't been negative growth while there's been ups and downs in other places. We don't see great surges from year to year, but steady growth over time, over the last fifteen years,” Warburton said.
Warburton warns the figures are purely based on median house prices. He notes that buyers should also be mindful of other costs such as stamp duty and agent fees.
“People may find if they've bought and sold in a period of 12 months, that other costs make their sale unprofitable,” Warburton said.
In addition, both Shepherdson and Warburton said the Muswellbrook property market has slowed in the last six to 12 months.
“The market itself is down a little bit, probably down about 5% because a lot of the contractors have been put off before Christmas, leading up to the election,” Shepherdson said.
Warburton added that growth in the top and bottom ends of the Muswellbrook market has plateaued, while “medium-priced properties are still turning over.”
Movement in the market is currently dominated by first-time home buyers as well as investors.
“Vacancy rates have increased a little in the last six to twelve months, from under 1% to 3-4%, which is a little bit of a turnoff for investment.
This has allowed for homeowners to return to the marketplace as competition is not there from investors driving the price up.
Homeowners normally buy (properties) around the median price. With the slowdown in investment, it gives first homeowners a bit of a chance.” Warburton said.
Shepherdson added that investors who own rental properties in the area have been selling their properties, while “cashed-up” investors as well as locals who are looking to upgrade have been purchasing properties in Muswellbrook.
However, an investigation by Property Observer found properties which defy these optimistic figures.
A two-bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-muswellbrook-111422199">2/27 Mitchell Street</a> (pictured below) sold in May this year for $210,000. Prior to this sale, it sold in 2008 for $206,000, reflecting a $4000 price growth over five years, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellmek_aug_14_one.jpg" alt="muswellmek_aug_14_one">
The unit has also been listed for rent three times this year. It was listed in May at an asking price of $250 per week, in June for $310 per week, and in July for $290 per week, according to RP Data records.
It was also listed for rent in January 2011 at an asking price of $250 per week, with an increase in asking price in December that year to $260 per week.
In 2009, the asking rental price was $230 per week, according to RP Data records. 
Another two-bedroom unit at 6/6 Skellater Street sold in February this year for $130,000, according to RP Data records. Prior to this sale, it sold in 2009 for $123,000, reflecting a price growth of $7000 over 4 years.
It has also been listed for rent since 2011. The asking rent in 2011 was $320 per week, and grew to $360 per week in 2012. It was just listed for rent in August this year at an asking price of $250 per week, according to RP Data records.
In addition, a three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-muswellbrook-111888159">8 Maitland Street</a> (pictured below) sold in April this year for $170,000. Prior to this sale, it last sold in 2009 for the same price according to RP data records – reflecting no price growth over four years.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_two.jpg" alt="muswellbrook_aug_14_two">
It was listed for sale in October last year at an asking price of $175,000, and spent 202 days on market. It was also listed for sale in March 2008 at an asking price of $180,000, and spent 539 days on the market, according to RP Data records.
As of the 2011 Census, Muswellbrook has a population of 11,791 people, with over 20% of them working in the coal mining industry. Coal mining as well as agriculture have traditionally dominated Muswellbrook’s industries.
Properties that have recently sold in Muswellbrook include:
<a href="https://www.realestate.com.au/property-house-nsw-muswellbrook-112685607" target="_blank">1 Jarrah Place</a> (pictured below), which sold earlier this month for $425,000 through John Flood Estate Agents Muswellbrook. Prior to this sale, the house last sold in 2008 for $425,000, in 1996 for $205,000, and in 1990 for $19,000, according to RP Data records.
It was listed for sale in October last year with a price guide of “mid-high $400,000s”, and spent 246 days on the market. It was also listed for sale in April 2008 at $439,000 and spent 231 days on market, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_three.jpg" alt="muswellbrook_aug_14_three">
Another house that sold recently was <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-muswellbrook-112528631">36 Anzac Parade</a>. The three-bedroom house (pictured below) sold for $198,000 through Premium Real Estate Services Muswellbrook in May this year. Prior to this sale, the house last sold in 2009 for $106,000, according to RP Data records.
It was listed for sale since December last year for $204,900, and spent 137 days on the market. It was also listed for sale for 33 days in January 2009, according to RP Data records.
The house has also been listed for rent at an asking price of $240 per week in May 2010, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_four.jpg" alt="muswellbrook_aug_14_four">
Properties that are currently on sale in Muswellbrook include:
<a target="_blank" href="https://www.realestate.com.au/property-townhouse-nsw-muswellbrook-114199587">2/39 Woollybutt Way</a>. The three-bedroom townhouse (pictured below) is currently listed for sale at $159,990 through LJ Hooker Muswellbrook.
It last sold in 2010 for $155,000, according to RP Data records. It was also sold in 2006 for $140,000, in 2002 for $65,000, in 1994 for $78,000, and in 1992 for $80,000, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_five.jpg" alt="muswellbrook_aug_14_five">
Prior to this listing, it was also listed for sale in May 2010 for $165,000, and spent 103 days on the market, according to RP Data records.
In addition, it has also been listed for rent. In 2009, the asking rent was $200 per week, while in 2008 the asking rent was $190 per week, according to RP Data records.
The three-bedroom house at 74 Acacia Drive (pictured below) is currently listed for sale at $339,000 through JTS Realty Muswellbrook. 
<img height="342" width="456" src="/images/stories/diane/main.jpg" alt="main">
It last sold in 2003 for $178,500 according to RP Data records. It was also sold in 1998 for $120,000, and in 1991 for $83,000, according to RP Data records.
Terry Ryder of hotspotting.com.au recently commented on "bulletproof suburbs" in a piece <a target="_blank" 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">published</a> by Property Observer, stating that "nowhere is immune to downturns".
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Muswellbrook is $331,000, up 8.5% on last year. The average discount required to sell a house is 4.7%, while private treaty sales average 89 days on market.
The median asking rent for houses in Muswellbrook is $380 per week, while average rental yield currently stands at 6%.
The median sale price for units in Muswellbrook is currently $292,500, with no change on last year. The average discount required to sell a unit in Muswellbrook is 8%, while private treaty sales average 60 days on market.
The median asking rent for units in Muswellbrook is $360 per week, while average rental yield currently stands at 6.4%.
</body></html>

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Upper Hunter's Muswellbrook might not be quite so "kevlar-clad"

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The proportion of new houses and apartments being purchased by foreign buyers has doubled in the space of two years.
Foreign buyers now account for between 12% and 13% of all new residential property purchases, according to the views of around 300 property participants surveyed as part of the <a href="https://www.propertyobserver.com.au/residential/property-prices-to-rise-just-24-over-next-two-years-as-sentiment-weakens-nab-survey/2013071163168?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">June quarter NAB residential property index.</a>
This is up from foreign buyers accounting for around 5% to 6% of buying activity in much of 2011, previous NAB surveys have found.
<img src="/images/stories/2013/larry_uploads/new_developments_graph.jpg" width="470" height="309" alt="new_developments_graph">
Queensland (20%) and Victoria (14.1%) remain the choice locations for foreign investors followed by NSW (above 10%).
<img src="/images/stories/2013/larry_uploads/new_properties2.jpg" width="470" height="307" alt="new_properties2">
While not stated in the survey, many of the offshore buyers would be purchasing apartments off-the plan in new developments in Melbourne, Brisbane, the Gold Coast and Sydney.
“Asian investors (mainly Chinese) have been driving this trend according to the latest data from the Foreign Investment Review Board, says NAB chief economist Alan Oster.
“A number of factors are driving Chinese investment into Australian property, including initiatives to curb real estate speculation in China, diversification for Chinese property investors and immigration potential.”
The latest quarterly survey found that resident owner occupiers remain the biggest players in the new property market, but their share of total demand has slipped to 36% in the June quarter.
The share of first home buyer activity in the market was broadly unchanged at just over 20%.
In contrast, demand for new property from Australian resident investors climbed to 27% in the June quarter, with investment demand especially strong in Victoria (34%) and Queensland (26%).
“We suspect that the relative low yields offered by fixed interest and continuing equity market volatility may be helping to boost investment demand,” says Oster.
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Foreign buyers of new residential property have doubled in two years: NAB survey

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The final stage of the popular bayside development Central Park in Cheltenham will be released this weekend, as townhouses are proving to be the next generation in Australian family living.
Located at 100 Cavanagh Street, Cheltenham, Central Park (pictured below) offers a range of six different contemporary home styles, all named after flowers.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/developments/cheltenham-moving-towards-apartments-and-townhouses-with-no-9-and-central-park/2012112957128/Page-2">reported</a> on the R.Corporation development in November last year, with stages one, two and three completely selling out.
The final stage will consist of two and three bedroom townhouses priced from $499,500 and will be launched over a winter garden party with mulled wine and crepes on Saturday July 13.
Eight townhouses are already reserved by registered clients, with more expected on the day.
“We are thrilled with the success of Central Park and look forward to our first residents moving in later this year,” says Rohan Ames of R.Corporation.
“The outstanding response is due to the quality of the designer townhouses within the bayside locale and at an attainable price,” says Ames.
The median house price in <a target="_blank" href="/news">Cheltenham</a> is $600,000, a 14.3% increase in the past five years, according to RP Data.
The demand for townhouses comes as the traditional family block of land is becoming smaller, according to findings from the National Land Survey Program, which monitors the performance of the new house and land market across Australia.
“These smaller lots are now priced $21,000 higher than what they were three years ago,” says director of ResearchFour Colin Keane.
“Most families buying on Melbourne’s outer fringe are travelling 15 kilometres further to secure a block of land that is only 70 square metres bigger, at a price point which is similar to a new well designed townhouse from where they came,” says Keane.
Clara in South Yarra was R.Corporations first generation of townhouses and the second generation saw the rise of Park Terraces in North Melbourne and Central Park in Cheltenham.
R.Corporation’s <a target="_blank" href="https://www.propertyobserver.com.au/news/with-paul-bangay-gardens-rcorporation-woos-buyers-at-the-grove-at-maidstone/2013032560030">The Grove in Maidstone</a>, specifically the Jasmine townhouse, is the third generation of townhouses to come from the developers, with a floor plan that can easily adapt to changing needs and lifestyle impacts.
Located on Crefden Street, The Grove townhouses will be three-storey with two bedrooms, two bathrooms and feature a balcony and front landscaped garden by <a target="_blank" href="https://www.propertyobserver.com.au/victoria/brighton-estate-woodlands-with-paul-bangay-gardens-returns-to-the-market-on-third-try-title-tattle/2012022153493">Paul Bangay</a>.
Buyers will have the choice of two different designs – Jasmine and Lily – with the Lily design starting from $450,000 and the Jasmine design starting from $480,000.
Stages one and two have completely sold out since launching in March, with the third stage being released this weekend.
The median house price in <a target="_blank" href="/news">Maidstone</a> is $485,000, a 15.5% increase in the past five years, according to RP Data.
Guests at the winter garden party for Central Park will also have the chance to win a weekend for two to Paul Bangay’s brand new bed and breakfast Stonefields in <a target="_blank" href="/news">Denver</a>.
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Melbourne suburban townhouses proving popular as the next generation in family living

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One of the most important decisions now for new prime minister Kevin Rudd is selecting the date for the federal election. There are 22 Saturdays between now and November 30, the last possible date an election could be held.
The requirements for a campaign period of no less than 33 days rules out four Saturdays. Further options can be eliminated because of sporting grand finals, public holidays, school holidays and religious days.
Rudd has also ruled out two other possibilities. He has said the election <a href="https://www.smh.com.au/opinion/political-news/pm-weighs-up-new-poll-date-20130627-2p06a" target="_blank">will not be held</a> on September 14, the date <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-01-30/julia-gillard-calls-september-14-federal-election/4491118" target="_blank">designated</a> by his predecessor Julia Gillard, because it falls on the date of the Jewish holy day of Yom Kippur.
He has also effectively ruled out September 7 by indicating that he would like to see the Australian prime minister <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-06-29/kevin-rudd-flags-taking-tony-abbott-to-g20-talks-in-russia/4789594" target="_blank">attend the G20 summit</a> in Russia, which is being held on this date. When these Saturdays are removed Rudd is left with 14 Saturdays to choose from.
Then there is the local government referendum, which significantly complicates matters for the new prime minister. According to the Australian Electoral Commission, a simultaneous referendum and election poll is <a href="https://www.sunshinecoastdaily.com.au/news/federal-election-referendum-may-held-same-day/1926091/" target="_blank">not possible</a> before September 14.
Of the remaining dates, Rudd will then have to weigh up political considerations. If he was to wait and hold the election in November, for instance, he could risk a voter backlash by making it appear that he was avoiding a vote.
Alternatively, the government could dump the local government referendum, wear the opprobrium, and go to the polls in August. But an August poll also carries the risks of repeating the mistake made by Labor in 2010 when they went to the polls too quickly after Julia Gillard became prime minister.
While notable exceptions can be found, the leader is at the centre of the campaign, and it takes some time to plan a campaign strategy and get the policy settings right to suit the new leader.
When the problems with a August, September and November poll are taken into account, Rudd is left with two Saturdays to choose from: October 19 and October 26.
 
<hr class="system-pagebreak">
Legal provisions
The combined provisions of the Australian Constitution and the Commonwealth Electoral Act (1918) require a minimum 33 day election campaign. They also dictate that the latest possible date for a federal election is Saturday, November 30, 2013. This is determined by <a href="https://www.austlii.edu.au/au/legis/cth/consol_act/coaca430/s28" target="_blank">Section 28</a> of the Constitution:
"Every House of Representatives shall continue for three years from the first meeting of the House, and no longer, but may be sooner dissolved by the Governor-General."
Following the 2010 election, the 43rd parliament first met on September 28, 2010, and will expire on September 27, 2013. The House of Representatives may be dissolved earlier than the maximum term, and by convention this is done by the governor-general on the advice of the prime minister.
<a href="https://www.austlii.edu.au/au/legis/cth/consol_act/coaca430/s32" target="_blank">Section 32</a> of the Constitution determines that:
"Writs must be issued within 10 days of the expiry of the House."
Ten days after September 27, 2013, is October 7, 2013.
<a href="https://www.austlii.edu.au/au/legis/cth/consol_act/cea1918233/s156" target="_blank">Section 156</a> of the Commonwealth Electoral Act (1918) says that:
Nominations of candidates must close at least 10 days but no more than 27 days after the date of the writ.
"27 days after October 7, 2013, is November 3, 2013."
<a href="https://www.austlii.edu.au/au/legis/cth/consol_act/cea1918233/s157">Section 157</a> of the Commonwealth Electoral Act determines that:
"Election day must be at least 23 days but no more than 31 days after the close of nominations."
31 days after November 3, 2013, is Wednesday, December 4, 2013.
Finally, <a href="https://www.austlii.edu.au/au/legis/cth/consol_act/cea1918233/s158">Section 158</a> of the Commonwealth Electoral Act demands that:
"The day fixed for the polling shall be a Saturday."
The Saturday prior to December 4, 2013, is November 30, 2013.
 
<hr class="system-pagebreak">
What about the Senate?
In selecting an election date the prime minister will want there to be a Senate election held simultaneously. It would be a very brave national leader who would make Australians go to the polls more times than they needed to.
<a href="https://www.austlii.edu.au/au/legis/cth/consol_act/coaca430/s13">Section 13</a> of the Constitution requires that in half-Senate elections, the election of state senators shall take place within one year before the seats become vacant. Senators are normally elected for fixed terms of six years, commencing on July 1 in the year following the election, and ceasing on June 30 six years later. This means those Senators elected in November 2007 and sworn-in on July 1, 2008, will have their senate seat fall vacant in June 30, 2014.
Therefore a half-Senate election is required to be held between July 1, 2013, and June 30, 2014. Other provisions in the Constitution relating to the requirements of a 33 day campaign period mean the earliest date for a half-Senate election is August 3, 2013.
The agreement with the independents
Part of the agreement between the ALP and independent MPs Tony Windsor and Rob Oakeshott, which allowed Julia Gillard to form a minority government in 2010, <a href="https://www.smh.com.au/opinion/political-news/poll-position-gillard-arms-labor-for-early-election-with-new-committee-20120904-25cor" target="_blank">says</a>:
"This parliament should serve its full term and that the next election will be held on a date to be agreed in September or October 2013."
With parliament having risen and the two regional independents signalling they are not running again, the status of this clause is highly debatable. If the new parliament was recalled by Rudd to pass legislative changes then there is an unlikely possibility it may come back into play.
The local government referendum
On June 24, parliament passed a bill authorising the holding of a referendum on whether to give constitutional recognition to local government. <a href="https://www.austlii.edu.au/au/legis/cth/consol_act/coaca430/s128" target="_blank">Section 128</a> of the Constitution provides that a referendum must be held after two months but less than six months after the approval of parliament.
<a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House_of_Representatives_Committees?url=jsclg/localgovt/subs/sub129.1.pdf" target="_blank">According to the AEC</a>, the combined effect of the Constitution and the Commonwealth Electoral Act is that the earliest date an election and referendum can be held simultaneously is two months and 18 days after June 24.
This means any election called before September 14 will not be able to be held simultaneously with the referendum, something the government will want to avoid. Alternatively, the government may elect to drop the referendum.
 
 
<hr class="system-pagebreak">
Parliamentary sitting days
A further complication is presented by the scheduled sitting of parliament on the weeks of August 20-22, August 26–29 and September 9-12.
It may be that the new prime minister wishes the parliament to sit again to consider legislative changes. However, this carries with it a new set of risks around managing the parliament and its members as well as providing the opposition with a platform to attack the new administration.
If the government wishes to avoid another sitting of parliament then an October election date is problematic.
When will Rudd name the election date?
One of the prerogatives of the prime minister is to name the election date. The prime minister is required to provide 33 days notice. But beyond that, there is no legal requirement to let the public know.
This arrangement delivers a significant advantage to the incumbent. It allows the prime minister to select a date which they believe gives them the best chance of winning.
Julia Gillard broke with convention by naming the September election date when she delivered a National Press Club speech in late January. There were mixed views about the political wisdom of this move. Either way, it has had a flow-on effect for Kevin Rudd by increasing the pressure on him to name a date.
The traditional line for a prime minister – “that’s for me to know and you to find out” – is unlikely to hold for long given he is creating uncertainty by switching from a date that was previously known.
The Commonwealth, Queensland and Tasmania are the last remaining Australian jurisdictions not to have a fixed election date. For convenience and certainty it is a reform that should be adopted at the federal level. It will also mean people will be spared highly speculative commentary pieces like this one.
Finally, don’t forget Australia’s media outlets. They are waiting for tens of millions of dollars in advertising bookings by the political parties. These bookings would have been well advanced for September 14, particularly in prime-time slots. Now the media buyers will be frantically checking availability around the dates below (click to view), while the rest of the country awaits Kevin Rudd’s announcement of a new polling date.
Options for the 2013 election date:
Click to enlarge:
<a style="font-size: 0.8em;" href="https://c479107.ssl.cf2.rackcdn.com/files/26660/area14mp/vdb67b37-1372722626.jpg"><img src="https://c479107.ssl.cf2.rackcdn.com/files/26660/width668/vdb67b37-1372722626.jpg" width="470"></a>
<figure class="align-centre zoomable"></figure><figcaption></figcaption>This article originally appeared on <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
Nicholas Reece is a former senior adviser to a prime minister and two Victorian state premiers. Further election commentary by Nicholas Reece can be viewed at <a href="https://www.2013electionwatch.com.au" target="_blank">www.2013electionwatch.com.au</a>
 
 
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Options for the 2013 election date - which spring Saturday property auctions face the federal election interruption?  

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The Westpac 'time to buy a dwelling' sub-index - an indicator of housing investment and buying sentiment - fell sharply in July.
Westpac records an 8.4% drop in this sub-index compared with the overall consumer confidence index, which was flat (down 0.1%) in July and just favouring optimists with a reading of 102.1.
The time to buy a dwelling sub-index fell from 143.3 in June to 131.4 in July.
Despite the drop in July, the time to buy a dwelling index is still at elevated levels overall with optimists significantly outnumbering pessimists.
The graph (below) prepared by ANZ shows that sentiment about the property market has been rising since around the time the RBA starting cutting the cash rate in November 2011.
It also shows that the time to buy a dwelling sub-index tracks demand for new housing with the orange line showing residential building approvals in trend terms.
<img height="290" width="470" src="/images/stories/2013/larry_uploads/WESTPAC_GRAPH_FLICKER_1.jpg" alt="WESTPAC_GRAPH_FLICKER_1">
It shows a great deal of volatility in sentiment about buying property, but that the overall trend is upwards and that the index remains at elevated levels.
Westpac senior economist Matthew Hassan notes that the monthly decline “highlight the air of fragility around consumer sentiment.”
A more pessimistic outlook on family finance among the 1,200 survey respondents may have contributed to weaker property market sentiment in July with the sub-index tracking assessments of ‘family finances versus a year ago’ falling 5.6% to be back near recent lows.
“The downgrade in consumers’ assessments of their finances highlights the fragility of sentiment. It is also somewhat concerning given that these components tend to be better predictors of shifts in actual spending,” says Hassan.
Hassan talks of “powerful cross-currents” underlying the stable overall consumer confidence result.
While family finance sentiment has fallen, the outlook for the economy improved with the sub-index tracking consumers’ expectations for economic conditions over the next five years "surging 9.2% to be well above the average level recorded over the last two years”.
“Pinpointing the exact drivers of these shifts is difficult. The improved view on economic prospects for example may reflect shifting expectations for the US economy that have become more visible with US Fed now contemplating ‘tapering’ its quantitative easing policy stimulus," says Hassan.
“It may also reflect clearer signs of an upturn in parts of the local economy, the housing sector in particular. The sharp fall in the Australian dollar may also have played a part.
“The currency has gone from 104¢ US to 91.3¢ US over the last three months and although this would ordinarily be a negative for sentiment, the decline may be viewed differently given the currency’s high starting point and the difficulties this has presented for ‘trade-exposed’ parts of the economy."
ANZ says the Westpac figures suggest that household consumption growth will remain "relatively subdued, in line with our forecasts, after moderating since mid 2012".
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Home buyer sentiment falls sharply in July: Westpac index

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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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Differing interpretations of building approvals data shows it's best to stick to a longer-term view: Terry Ryder

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Sydney entrepreneur Drew Muirhead has sold his Cottage Point waterfront, but to the one owner.
Muirhead was previously offering the property under a co-ownership agreement drawn up by PodProperty chief executive Jeremy Levitt, but the scheme failed to attract enough interest from the 12 proposed part-owners.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/notting-lane-cottage-point-waterfront-with-disco-sold-for-%24335-million-by-drew-muirhead/2013070863019">It was intended the co-owners would have a deeded share of the title of the bricks and mortar</a> and could use their share for their own holiday stay, or rent out their time.
Fractional ownership is a model used in the US and Europe.
It was proposed the owners would each have a deeded share of the title of the bricks and mortar and could use their share for their own holiday stay, or rent out their time for a great return.
{module Would you buy part ownership of a holiday property?}
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Would you buy part ownership of a holiday property?

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Investec Bank has sold the top floor penthouse space in its Potts Point development, but divided into two apartments rather than as one residence.
Its a 430 square metre Wylde Street space that came with a combined $13 million asking price. It has 115 square metres of car spaces and storage. They each sold for around $6 million. 
The offering sits atop a seven story complex which will replace the former Oakford Apartments motel on its scheduled 2015 completion.
The development, high above industrial Garden Island, is set to contain 21 apartments and 30 car parking spaces.
Designed by Adam Haddow of SJB, there will be a mixture of six one-bedroom apartments, three two-bedroom apartments and 11 three-bedroom apartments and the single floor penthouse space for which the sale price/s have not been revealed.
Deposits were taken for 16 of the 21 apartments in the new development at its March VIP launch for prices ranging between $795,000 and $5.2 million. Property Observer gathers the developers were minded to split the penthouse floor into two over recent weeks to match the subdued demand for penthouses. 
A project at 10 Wylde Street will be the first apartment building of a major size constructed in the inner eastern suburb for more than five years.
"10 Wylde Street has the only true north-facing penthouse to be built in Potts Point in 20 years," said the sales marketing material of Andrew Hoggett and Jason Boon of <a target="_blank" href="https://www.rwebay.com.au/874136/">Richardson &amp; Wrench Elizabeth Bay</a>.  It was listed inconjunction with Caroline Fagerlund of CBRE Residential.
Developed by Investec and designed by SJB Architects, this is the second development proposed for the site after the earlier, larger, $70 million project was abandoned after the first developer, Ashington collapsed in 2010. 
Investec, which had lent to the Ashington to fund the project, took control in 2011.
Investec submitted $17 million plans with less ambitious design and price expectations scrapping its prestige, but expensively tricky, curved glass building corner.
It was in 2008 when Potts Point briefly ruled triumphantly holding the Australian record apartment mantle following the $20 million off-the-plan penthouse sale in the then Ashington development at 10 Wylde Street.
With views across Woolloomooloo Bay towards the harbour, city and Opera House, the proposed two-level penthouse was set to have 530 square metres of internal space and 115 square metres of balcony.
The nine-apartment project had been designed by Tzannes Associates, with interiors fashioned by the designer Alex Perry.
The sale, which was in train for more than a year, was negotiated by Richardson &amp; Wrench Elizabeth Bay-Potts Point agents Geoff Cox and Jason Boon to the elusive property developer Duncan Hardie.
The sale didn't proceed after Ashington's implosion and abandonment of the project.
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jchancellor-FAypfDUnLy

10 Wylde Street, Potts Point penthouse space sold by Investec

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Melbourne’s cheapest auction sale price last weekend was in the northern suburb of Dallas. 

The four-bedroom, one-bathroom Barry Road house was listed by the mortgagees with a $220,000 to $240,000 price expectations.
It for $243,500 after Barry Plant Real Estate marketed the property to first homebuyers, investors and clinic operators.
The <a href="https://www.barryplant.com.au/glenroy/index.cfm?pageCall=property&amp;propertyID=2383151&amp;realestate=541_Barry_Road_DALLAS_VIC_3047" target="_blank">original 1960s brick veneer property</a> (pictured below) was previously listed for sale in July 2011 with a guide price of $280,000 to $290,000, but did not sell.
<img alt="dallasjuly10one" height="233" width="470" src="/images/stories/2013/07/dallasjuly10one.jpg">
Its feature built in robes in two bedroom, a large living area with open fireplace, modern kitchen, central bathroom, separate laundry and toilet, gas ducted heating, single car garage and wide side driveway. 

It last sold for $215,000 in mid-2008, reflecting 2.5% annual growth during the past five years. 

The median sale price for houses in Dallas is $270,000, down 8.9% in the past year, <a href="/news">according to RP Data</a>. 

Other recent sales include a five-bedroom property on Phillip Street selling for $365,000 in June and a three-bedroom house on Merino Avenue selling for $260,000 on 3 July this year.
Barry Plant Real Estate selling agent Halil Okur says while there was a lot of interest in the Barry Road property, it would need significant renovations to make it liveable.

“When we took over the marketing campaign, the house was vacant.

“It’s a run-down house. It needs a lot of renovation. When you walk into it, it literally stinks,” he said. 

The buyer was an investor and Mr Okur expects it will return a rental income around $300 per week once its renovated. It would then reflect a 6.4% yield

The contract for the sale had a Victorian Legal Aid caveat on its title.
It was the home of Charbiel Fram who was sentenced to three and a half years jail for attacking his former brother in-law at a Thomastown pool hall in 2010 and is currently awaiting sentencing over an assault at Crown Casino’s Fusion nightclub. 

He committed the second offence while on bail for the first.
 

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