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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

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

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

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

<html><body>Australian Property Monitors (APM) has released a list of auction results in Adelaide for the weekend of July 6. <a rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank" 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 Adelaide auction results for July 6 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 196 auctions in Melbourne for the weekend of  July 6. <a rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank" 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>

APM's Melbourne auction results for July 6 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 223 auctions in Sydney for the weekend of July 6. The clearance rate was 77.5%. <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>

APM's Sydney 223 auction results show a 77.5% clearance rate

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Australand’s latest release in the masterplanned community Discovery Point is proving popular, with 75% of apartments now sold in the latest building Summit.
Discovery Point is located 10 kilometres from the Sydney CBD in Wolli Creek.
The 21-level residential building Summit (pictured above) features one-, two- and three-bedroom apartments and will sit above a retail precinct and piazza-style village squire.
One-bedroom apartments are now completely sold out.
Two-bedroom apartments are available from $615,000 to $810,000.
Three-bedroom apartments are available from $815,000 to $1,235,000.
“The outstanding sales to date are a clear reflection of the strong demand that we continue to experience at Discovery Point,” says Australand New South Wales residential division general manager Nigel Edgar.
“Buyers are responding in great numbers to the well-designed apartments in a friendly well positioned community they can call home.
“The popularity of Summit is heightened by the impressive views if offers over the community’s parklands, across the river to the Sydney city skyline and out to Botany Bay,” says Edgar.
The <a href="https://www.propertyobserver.com.au/developments/sydney-discovery-point-development-launches-fifth-stage-after-previous-successes/2011102351974" target="_blank">first five stages of Discovery Point are completely sold out</a>, with apartments still available in the Watervue release.
Upon completion, Discovery Point will include 1,800 apartments.
Property Observer <a href="/news">reported</a> on the recent marketing campaign for Summit, which presented their offerings to an international audience through easy Chinese translation.
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Strong sales at Summit at Discovery Point

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<img alt="melbournehousesjuly5" height="194" width="400" src="/images/stories/2013/07/melbournehousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Melbourne, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="sydneyhousesjuly5" height="194" width="400" src="/images/stories/2013/07/sydneyhousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Sydney, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="adelaidehousesjuly5" height="194" width="400" src="/images/stories/2013/07/adelaidehousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Adelaide, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="perthhousesjuly5" height="194" width="400" src="/images/stories/2013/07/perthhousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Perth, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="canberrahousesjuly5" height="194" width="400" src="/images/stories/2013/07/canberrahousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Canberra, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="brisbanehousesjuly5" height="194" width="400" src="/images/stories/2013/07/brisbanehousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Brisbane, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="hobarthousesjuly5" height="194" width="400" src="/images/stories/2013/07/hobarthousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Hobart, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
<img alt="darwinhousesjuly5" height="194" width="400" src="/images/stories/2013/07/darwinhousesjuly5.jpg">
The median gross rental yield landlords are securing for houses in Darwin, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the quarter ending June 30, 2013.
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Melbourne houses return lowest yields: RP Data capital city analysis

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The merits of auctioning was obvious on the weekend at Yowie Bay. As auctioneer Andrew Cooley of Cooley Auctions tweeted.
<a target="_blank" href="https://twitter.com/Andrew__Cooley"><img height="70" width="470" src="/images/stories/2013/07/tweetofthedayjuly8one.jpg" alt="tweetofthedayjuly8one"></a>
Andrew Cooley was under instructions to keep the location secret, but Property Observer's attendee advised it was <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-yowie+bay-114051855">39 Warrah Road, Yowie Bay</a> (pictured below) which sold on Saturday through <a target="_blank" href="https://www.sanders.com.au/">Sanders Property Agents</a>. There were four competing parties interested in the offering.
<img height="345" width="470" src="/images/stories/2013/07/yowiebayjuly8one.jpg" alt="yowiebayjuly8one">
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Urban myth meets weekend auction reality: Andrew Cooley ?@Andrew__Cooley on why auction works

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Another classic week where the long markets went cruising along and the short markets were in mayhem again. When the Reserve Bank of Australia (RBA) met and decided to leave the cash rate at 2.75% – <a style="padding: 0px; margin: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #003d7d; text-decoration: none;" title="Subdued but increased demand for finance: RBA Governor’s July meeting statement." href="/news" target="_blank">Subdued but increased demand for finance: RBA Governor’s July meeting statement.</a>
<a style="padding: 0px; margin: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #003d7d; text-decoration: none;" title="Subdued but increased demand for finance: RBA Governor’s July meeting statement." href="/news" target="_blank"></a>When the governor Glenn Steven commented about the decision to leave the cash rate on hold – “deliberated for a very long time” this sent the Australian dollar tumbling.
Just goes to show how fickle our short term markets are. A preoccupation with global economies, currencies and politics – none of which to be resolved (it would appear) in the near-term.
Hard to fathom why these markets are so skittish given the availability and ease of accessing so much data with big data storage expected to hit eight zettabytes (ZB) by 2015.
One ZB =1 000 000 000 000 000 000 000 bytes = 1000 7 bytes = 10 21 bytes = 1000 exabytes = 1 billion terabytes.
As at April 2012, no storage system had achieved one zettabyte of information. So with so much information available it is quite clear that human panic still remains the determining factor for the short markets.
The long markets (real estate) are doing very well both locally and overseas – finally we are seeing a recovery in US home prices with a jump of 12.2% in May, the highest recorded over the past seven years.
<a style="padding: 0px; margin: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #003d7d; text-decoration: none;" title="A built in bonanza for house prices" href="https://www.businessspectator.com.au/article/2013/7/3/economy/built-bonanza-house-prices" target="_blank">A built in bonanza for house prices</a> – According to the Knight Frank global house price index, Australian house prices over the year to March 31 have risen 2.6% while the US house prices have risen by 10.2%. But the Australian dollar has fallen by almost 15% – we have taken part of the value correction on the currency’s chin.
It is not very often that I find myself agreeing with <a title="House grants a ‘’poisoned chalice” that create bubbles and leave buyers worse off: Steve Keen." href="/news" target="_blank">House grants a ‘’poisoned chalice” that create bubbles and leave buyers worse off: Steve Keen.</a>
<a title="House grants a ‘’poisoned chalice” that create bubbles and leave buyers worse off: Steve Keen." href="/news" target="_blank"></a>When you look at the First Home Owners Grant (FHOG) this scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership.
It is a national scheme funded by the states and territories and administered under their own legislation. When you have record low interest rates and record high rents of course consumers are enticed to make the big switch, although what many confuse is that owning real estate is a long term hold and rates will go higher (much higher) as global economies recover.
Just look at what is happening to US property prices at the moment.
The positive is that we can expect strong capital growth over the next three years so those struggling will be selling in a positive market as against a declining market. I was interested this week to see this graph “Individual’s interest in rental properties”.
<img alt="simeonjuly8one" src="/images/stories/2013/07/simeonjuly8one.jpg" width="470" height="269">
<img alt="simeonjuly8two" src="/images/stories/2013/07/simeonjuly8two.jpg" width="470" height="295">
 
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Interesting to see what happened to Mosman houses for the period 1 January 2013 to 30 June 2013 then compare the results to the same period in 2012.
<h4>MOSMAN HOUSE SALES TO 30 JUNE 2013</h4>
<ul>
<li>Total Number of Sales – 131</li>
<li>Total Value Sold – $358,891,500*</li>
<li>Median Price – $2,280,000*</li>
<li>Average Price – $2,739,630*</li>
<li>Auction Clearance Rate – 46%</li>
<li>Adjusted Clearance Rate – 40%</li>
</ul>
<h4>MOSMAN HOUSE SALES TO 30 JUNE 2012</h4>
<ul>
<li>Total Number of Sales – 143</li>
<li>Total Value Sold – $393,237,200</li>
<li>Median Price – $2,080,000</li>
<li>Average Price – $2,749,910</li>
<li>Auction Clearance Rate – 24%</li>
<li>Adjusted Clearance Rate – 19%</li>
</ul>
*Denotes this figure will increase as Confidential Prices are recorded.
Next week we will do the apartment sales.
The most significant change I can note from this data for houses is that when the economy is booming Mosman historically trades ten per cent of the total number of houses which is approximately 500 sales per year.
Since the GFC volume levels have been down on average approximately 40% per annum. In the boom years the Total Volume Sold averages $1,000,000,000, yet since the GFC we see it averaging $800,000,000 which represents a 20% change.
This week we see the number of houses in Mosman for sale drop to 68 which is the lowest number we have ever recorded (since we started collecting this data). We expect this number to remain low until mid – August although it would certainly help all the markets if Kevin Rudd would put his ego to one side and announce the federal election date.
Source: Australian Property Monitors
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 80 • Number of houses on the market last week – 71 • Number of houses on the market this week – 68 • Number of apartments on the market this time 2012 – 89 • Number of apartments on the market last week – 56 • Number of apartments on the market this week – 52
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 11 • Number of houses on the market last week – 7 • Number of houses on the market this week – 9 • Number of apartments on the market this time 2012 – 19 • Number of apartments on the market last week – 7 • Number of apartments on the market this week – 9
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 15 • Number of houses on the market last week – 9 • Number of houses on the market this week – 12 • Number of apartments on the market this time 2012 – 51 • Number of apartments on the market last week – 33 • Number of apartments on the market this week – 33
<a title="Surging Sydney to lead “uneven” recovery in residential property market over next three years: BIS Shrapnel " href="https://www.propertyobserver.com.au/residential/surging-sydney-to-lead-uneven-recovery-in-residential-property-market-over-next-three-years-bis-shrapnel/2013063062842" target="_blank">Surging Sydney to lead “uneven” recovery in residential property market over next three years: BIS Shrapnel </a>– The Sydney median house price is expected to rise by an average of more than 6% per annum. Given we have record low interest rates it would be quite surprising to see prices only go up – it should also be noted that the strongest growth in property prices is recorded under Liberal governments.
It would be nice to think that the next government will place a high emphasis on infrastructure and housing more <a title="new dwelling needed but we’re still “lucky”: Glenn Stevens. " href="https://www.propertyobserver.com.au/economy/more-new-dwellings-needed-but-were-still-lucky-glenn-stevens/2013070362945" target="_blank">new dwelling needed but we’re still “lucky”: Glenn Stevens. </a>Australia needs to build more houses and apartments than it has done in the past as population growth picks up, interest rates remain low and dwellings remain more affordable.
Instead of propping up an ailing manufacturing industry the government of the day would be much better served incentivising our building industry. This is further explained by Infrastructure Australia which is about to release a seven – point plan to reform more than $100 billion in federal infrastructure spending intended to make Australia more competitive in Asia.
With China slowing down there needs to be a greater concentrated effort on developing our ‘home grown’ economy which has now been dormant for way too long. Australians these days prefer overseas made cars yet it is impossible to have overseas made houses. So why is the government so confused on this no brainer?
Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" rel="nofollow" target="_blank">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" rel="nofollow" target="_blank">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
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Mosman prestige activity at record half-year lows: Robert Simeon

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As most people are aware Australia’s population has now tipped the 23 million mark.
Coming originally from the UK, where over 60 million individuals reside in a land area which could be fit into Australia more than 58 times over, the 4.25 million living in my home town of Melbourne and its surrounding suburban sprawl, feels noticeably different.
Victoria has exceeded all states in the population stakes. According to the ABS, over the year to 2012, we welcomed an additional 99,548 new residents.  Of that number, 56.4% were overseas migrants, 41.8% from births, and only 1.7% from interstate migration.
As demographer Mark McCrindle recently reported, the number of people residing in Australia has increased by 8% over the past 5 years and (under current forecasts) Melbourne is set to eclipse Sydney as Australia’s largest city by the middle of this century.
However, whenever population statistics are released, it inevitably follows that we get a host of articles directly aligning population density to rising house prices. While it’s not unreasonable to assume that an increase in the resident population will swell demand for home sales, its far harder to directly align the statistic to burgeoning house prices.
This is especially the case when you consider that, despite Victoria’s booming population, Melbourne currently sits about 15% below the five year average in total annual sales turnover, and throughout 2011/2012, was tracking at levels not seen since the late 1990s.
Turnover is an important figure in real estate – more important than median price rises.  Strong sales turnover keeps the industry, along with its retail offshoots, ticking along.
Without a good supply of buyers and sellers agreeing on property transactions, the market becomes somewhat stagnated and the resulting consequences can be felt across the broader economy.
However, whilst a higher sales turnover in any area where both land and supply is limited can result in rising median values, it isn’t necessarily correlated with increased population density; rather it generally relates to the amount of debt taken on by mortgage borrowers, a good proportion of which will be investors.
Investigating the potential for a surge in housing values involves a lot more than following population increases.  If you were to follow the population in Melbourne, for example, you’d be including locations such as South Morang, Tarneit and Dallas.
Median house prices in these areas haven’t done much – in fact over recent times they’ve been falling despite an increasing population.
The last significant price rises in many of these regions was during 2009 – when some suburbs rocketed by 20% or more.
 
<hr class="system-pagebreak">
However, it’s important to understand that population growth didn’t fuel that surge - rather it was credit growth.
The post GFC boom which took us to the ‘peak’ of October/September 2010 was stimulated initially by the first home buyer boost (reflecting the Rudd governments attempt to ward off a GFC inspired slowdown by injecting easy credit into a number of economic sectors).
This resulted in a price multiplier effect across the market as generous amounts of cash were wafted in front of inexperienced buyers – many of whom took the additional dollars offered for new accommodation.
Once again, it shows the futility of first home buyer grants as a savings mechanism, further establishing the fact that the more money you pump into the market, the higher house and unit prices inevitably become.
Significantly, our fringe locations have an abundance of land along with ample off the plan packages waiting to be snapped up for those willing to pay the relatively high prices.
There is certainly no shortage of supply in our fringe suburbs, meaning that any increased demand from home buyers is most unlikely to result in the same ‘pent up demand’ which can trigger price surges typical of inner suburban markets.
Furthermore, these areas sit in what is commonly referred to as the ‘mortgage belt’ regions - areas which – according to a recent <a href="https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=711556" target="_blank">Fitch report</a> – remain venerable to delinquencies.
In contrast, the more affluent inner city regions – areas such as Boroondara in Victoria’s inner east for example – where it’s impossible to secure housing below the metro median, have lower delinquency rates and a far higher proportion of residents employed as professionals and managers.
Evidently, costly house prices in these vicinities are stimulated by above average median incomes in occupations most likely to have benefitted from strong historical salary growth, facilitating greater debt serviceability as well as the ability to leverage off existing assets.
But even this doesn’t mean that increased population density capital city suburbs, which seemingly have no room left to swing a cat, is directly correlated to price rises.  It’s not. For example, over 60% of the apartment stock in the larger capitals is investor owned.
 
<hr class="system-pagebreak">
Obviously, it increases demand from renters – a large proportion of which are priced out – but the investors evidently reside elsewhere.
Of course, as mentioned above, supply is a significant factor, and in our current high density culture (where historical development limits have been stretched), the inner suburban regions are not immune.
Over recent years Melbourne has experienced a high density boom with CBD high density development and inner suburban towers producing a significant over supply of one type of accommodation – relatively small one and two bedroom apartments, primarily suited to the student market.
The buyers for this type of accommodation typically don’t reflect an increasing local population.
For example, when Melbourne’s Docklands were established the apartments were swiftly offloaded by sales agents – taking a generous cut directly from the developers - predominantly to off shore investors.
However, supply was never tight enough, or the developments attractive enough, to ensure ongoing demand.  Subsequently the rental guarantees expired, prices stagnated and dropped, and despite its close proximity to the city, vacancy rates in the suburb remain close to 10%.
The housing shortage debate is one that gains regular media traction yet is rarely understood. If the supply equation is a simple case of putting every newly prospective household in our country into a new home, then the short answer is yes, we have a housing shortage – we’re not building enough.
But demand for housing comes from consumers, and the real shortage is for affordable accommodation that meets the current needs of our modern home buying demographic - young couples most likely at the stage of their life where they are planning (either immediately or in the near future) on forming a family.
First home buyers as a proportion of the buying market have been diminishing – and currently make up only 14% of the market.  The rise in prices is being fuelled by up-graders and investors – not new purchasers.
Put simply, the properties we are currently building are not attracting a greater proportion of local buyers, who quite clearly prefer established properties over new development for a variety of reasons - which can be summed up somewhat under the heading inelastic short sighted development policies.
This is why residential construction is currently experiencing its ‘longest trend decline in post-war <a href="https://www.brokernews.com.au/news/breaking-news/housing-affordability-is-everyones-problem-176842.aspx" target="_blank">history</a>.’
Take Sydney for example. Significantly more expensive than any other capital city in Australia, by the year 2000, affordability levels were at a crisis point. However, from around 2003 the market remained stagnant and, despite continued population growth, it didn’t renew its’ upward trajectory till 2009.
A shortage of supply and solid demand may have prevented prices falling – however population density was not the main driver of them subsequently rising.
Significantly, Sydney’s buying market is comprised of almost 50% investors - all borrowing to take advantage of well spruiked prospective gains, as an increasing number speculate on the market in an attempt to pump their savings into anything that ‘promises’ a better return than the stock market or a long term deposit account.
And let’s not forget foreign investment and the impact this can have.  London is a good example. The scream for housing in the UK, and London particularly, due to ‘shortages’ and rapidly rising prices, is because over 50% of prime London land and property is owned by offshore buyers and developers who have no interest in building ‘affordable’ accommodation to fulfil ‘real’ home buyer demand from middle income workers.
The gains are coming from those who have hundreds of thousands to invest in what’s perceived to be a relatively safe haven, and to date it’s been channelled into the premium housing sector.
 
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The recently imposed UK mansion tax may impact on these statistics, however there is no doubt England’s “help to buy” scheme will do a fair job of propping up the lower end of the market as, once again, the ‘proof’ of rising prices comes policies facilitating increased debt access and take up.
We all know the reality behind our golden years of growth.  The 250%+ increase in house prices over the last decade has been fuelled by increasing debt, financial deregulation, duel income households, first home owner’s grants, and a rapid increase in the purchase of investment properties.
People were able to borrow more to fulfil their desire to not only own their own castle and add an extension (further inflating median values,) but also to leverage the accrued equity and “invest” over the duration (usually in more real estate), with banks emerging as the real winners.
The rapid increase in house prices over the period has had little to do with population density per se, but everything to do with credit growth – and you’ll find similar stories repeated across the globe.
Price rises are more often than not fuelled by speculation that the next generation will pay double for the second hand house in – how does it go – eight or so years time? But whilst population growth certainly is a factor, and will push demand, actual house price appreciation more directly stems from from a higher proportion of mortgage holders shopping within an area of limited supply, rather than  a higher population density. It’s an important distinction.
We may be consistently told that house prices are as high as they are because we’re not building enough supply, but the reality is, house prices have been pushed up in line with the banking system’s ability to lend and the consumer’s appetite to borrow, and considering banks favour lending against existing collateral over and above productive investment, it should come as no surprise that the vast majority of bank lending (about 60%) has been towards the purchase of ‘bricks and mortar’ – with the only constraint on the amount of money ‘created’ being mortgagees ability to service the debt.
For those who got in at the beginning of the lending boom, the party continues.
However this is in many ways inherently unstable and the only way to stop the whole system collapsing is to prop up the debt levels we’ve already created, and find new ways to pump cheap credit into the system.
For those renting and facing the challenge of their first purchase, this means continuing to be saddled with high capital prices which they are expected to service for ever longer periods – now sometimes extending out though mortgages of 30 years or more – and a continuous low interest rate environment, or shared equity schemes and other funding innovations all pitched to maintain the perception that housing has never been more ‘affordable.’
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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The myth about population density and house prices: Catherine Cashmore

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Ten locations across Australia have been identified by Terry Ryder's latest hotspotting report.
They have been described as "long shot" locations in Ryder's list in News Ltd papers.
Blackall, Qld
Blackall is a regional wool town in central western Queensland with its role and its size possibly transformed by coal exploration in the Eromanga Basin.
Gloucester, NSW
Gloucester in the Hunter Region will change if coal and gas companies have their way.
Hastings precinct, Vic
Hastings and neighbouring locations on the Mornington Peninsula, south of Melbourne, have a solid property market. But could reach another level were plans to upgrade the Western Port occur.
Hervey Bay, Qld
Hervey Bay has had little capital growth for several years because of oversupply but a resurgence could occur if fly-in-fly-out workers continue to target affordable Hervey Bay.
Hughenden, Qld
Several billion-dollar enterprises planned for the region may transform Hughenden which is a typical outback town, servicing surrounding farmers and struggling to maintain population.
Mandurah, WA
Mandurah was known nationally for its growth up to 2007, when it went into serious decline. But improved transport links to Perth have FIFO workers moving there in big numbers.
Mortlake, Vic
Prices in this small west town rose given the power station and more staff housing may be required were a second stage to proceed or if wind farms plans proceed.
Rouse Hill, NSW
The suburbs of Sydney's northwest have had mediocre growth rates, but that may change if the NSW Government delivers the $8 billion North West Rail Link.
Whitsunday, Qld
Fly-in-fly-out miners are moving in and may spark a major revival in the Whitsunday region which has the worst capital growth rate in Queensland. Units are worth less than five years ago.
Wollongong, NSW
Wollongong's economy, traditionally based on manufacturing enterprises, has been hit by business closures and downsizing. The city is backing new ventures and a number of major projects.
Terry Ryder says the 10 localities present some of the best opportunities for double-digit property growth.
Terry Ryder writes twice a week for Property Observer.
His website is <a target="_blank" href="https://hotspotting.com.au/">hotspotting.com.au</a>.
 
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From Blackall to Wollongong - the 10 longshot property hotspots from Hotspotting's Terry Ryder

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There's improved selling conditions on Sydney, Melbourne and Adelaide with mild drops in the level of vendor discounting required to secure dwelling sales over the first half of 2013, according to Australian Property Monitors.
Between January and June, Sydney's average discount fell from 5.8% to 5.5%, Melbourne's from 7.0% to 6.6%, Brisbane's from 7.6% to 6.9% and Gold Coast's from 10.0% to 8.9%.
But the month of June saw an increase in the required discounting required in four capitals. Canberra vendors are requiring to meet higher levels of buyer caution by offering 6% discounting.
<img height="711" width="470" src="/images/stories/2013/07/apmdiscountjuly5two.jpg" alt="apmdiscountjuly5two">
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