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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

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

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

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

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This week’s event was a shemozzle, a bit embarrassing and it made me sad.
As I watched the telly – waiting for the State of Origin to start like half the nation – but instead seeing newsflashes to political nonsense that would see our very first woman Prime Minister be replaced with a vote from her own party, I pondered.
I was so proud to have a woman running our country even if I didn’t actually vote her in...well none of us did really... and even if I didn’t even vote or agree with her party politics, I was still proud that our country had a female leader and a female Governor General and we’d seen each state apart from SA with female state premiers in the past, but not now.
Then after watching the ‘car crash’ of Wednesday night in seemingly slow motion I could only reflect on what Julia had to put up with as a woman in this important and high profile position.
There is no doubt she copped heaps. I wonder if the other 39 women prime ministers, past and present around the world had put up with so much crap. I doubt the 'Iron Lady' did, RIP Baroness Thatcher.
“The ultimate irony is that there is no doubt Gillard will stay true to her word to bow out from politics, giving her nemesis Rudd the gift of clear air that she never received,” <a target="_blank" href="https://thehoopla.com.au/rudd-57-gillard45-australia-nil/">said Gabrielle Chan</a>.
Politics aside, when is it ok to be so disrespectful to a woman or a man who leads our country? The stupid comments made by radio DJs about her partner’s sexuality and her father dying of shame etc were inexcusable.
“The standard you walk past is the standard you accept.”  
These strong and meaningful words came from the chief of army, Lieutenant General David Morrison on 13th June as he explained that if people in his army felt it necessary to demean their female colleagues, or if they turned a blind eye to the demeaning behaviour of others, they should find another job. Now that’s true leadership.  
The standard you walk past is the standard you accept... Let’s think about this not only in our work but home lives too.
I have two sons who I hope to show that a woman’s contribution in work, home and politics is just as important as a man’s.
So now we wait – with the economy in limbo – for the election and quite possibly another new leader.  One I hope will kick the country into gear.
I don’t understand what a difference a new Labor prime minister can make in such a short space of time when I think the writing is already on the wall.
Was all this week’s events just a case of male ego rising?
Jo Chivers is director of <a target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom" style="font-size: 14px;">Property Bloom</a>, which manages property development.
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Kicking the country into gear: Jo Chivers

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All three penthouses in the Skye by Crown development in North Sydney have sold, with the most expensive one selling for $3.5 million.
The largest penthouse in <a target="_blank" href="https://skyebycrown.com.au/">the development</a> sold at its June 15 launch for $3.38 million. 
More than 100 apartments sold on launch day, totaling more than $110 million.
The developments first stage release is now 90% sold.
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/skye-by-crown-set-to-become-north-sydney-icon-skye-crown/2013052361500">20-storey residential complex</a> (pictured below) is designed by Japanese Australian architect Koichi Takada and features 232 apartments with glass facades, balconies and winter gardens.
<img alt="crownmay21three" height="556" width="470" src="/images/stories/april23tivoli/crownmay21three.jpg">
“A number of buyers who purchased on Saturday already own an apartment in one of Crown Group’s completed developments and have found them to be excellent homes and valuable investments,” says Crown Group director of sales and marketing Adam Sparkes.
Sparkes says the launch day turnout was beyond expectation.
<img alt="crownmay21four" height="453" width="470" src="/images/stories/april23tivoli/crownmay21four.jpg">
“Properties snapped up on the launch included a wide variety of varying apartment types, from our studio and one bedroom apartments through to our largest penthouse which sold for a record $3.38 million.”
Facilities include a gymnasium, community room, rooftop terrace and a 25-metre rooftop infinity edge pool.
<img alt="crownmay21two" height="361" width="470" src="/images/stories/april23tivoli/crownmay21two.jpg">
<img alt="crownmay21five" height="357" width="470" src="/images/stories/april23tivoli/crownmay21five.jpg">
Apartments range in price from $499,000 to $2 million plus.
<img alt="crownmay21one" height="360" width="470" src="/images/stories/april23tivoli/crownmay21one.jpg">
Studio apartments range in size from 36 square metres to 43 square metres.
One-bedroom apartments range in size from 50 square metres to 61 square metres.
Two-bedroom apartments range in size from 73 square metres to 88 square metres.
Three-bedroom apartments range in size from 120 square metres to 148 square metres.
There will be three penthouses on offer, boasting high level finishes and rooftop gardens.
Construction is scheduled to start in late 2013.
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All three penthouses snapped up in North Sydney's Skye by Crown

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Chinese investment in Australian commercial property has surged ahead in 2013, according to figures published by Colliers International in its 2013 Australian Capital Markets report.
Over the first four months of the year, Chinese investment has totalled $201 million compared with $122 million for the whole of 2012 and $137 million in 2011.
“China has been actively investing or seeking to invest in mineral exploration and development sector for some time but more recently real estate has emerged as a major category for investment.
“During the last three years, proposed foreign investment in Australia by China in the real estate sector has grown by almost 75%, while proposed foreign investment in mineral exploration and development has declined by around 14%,” notes the report.
<img alt="chinese_investment" height="261" width="470" src="/images/stories/2013/larry_uploads/chinese_investment.png">
Source: Colliers International
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Chinese commercial investment in Australia surges in 2013: Chart of the week

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The latest apartment complex to hit North Melbourne is Ryan and Leveson – a mix of North Melbourne’s industrial past and current restoration.
Located on the corner of Ryan and Leveson Street, the complex features a range of 108 apartments across two four-storey buildings.
Developed by PDG, <a target="_blank" href="https://www.ryanandleveson.com.au/">Ryan and Leveson</a> features designs by CJ Koay and Roberto Dreolini of Disegno Australia.
One-bedroom apartment range from 58 square metres to 72 square metres and range and start from $430,000.
Two-bedroom apartments range in size from 70 square metres to 81 square metres and start from $553,000.
Three-bedroom apartments range from 119 square metres to 140 square metres and start from $895,000.
The apartments boast German appliances and German black chrome tap wear throughout.
“Ryan and Leveson is like no other, this will be North Melbourne’s finest development offering a level of quality and finishes that has not been seen at this level before,” says sales manager Mark Giuliano.
Ground level apartments include outdoor terraces with landscaped gardens by Formium landscape architects.
“Green spaces, arrival gardens and green walls are of tremendous ESD value – they add to the cities biodiversity.
“For a resident they enhance the ‘sense of place’ and the ‘sense of identity’, providing places for passive reflection, active social opportunities or simply green leafy outlooks for residence,” says Mark McWha of Formium.
The 2,719-square-metre lot was previously home to motor mechanic Carrera Motors, which has since been demolished.
Ryan and Leveson is currently 40% sold.
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A mix of North Melbourne's industrial past and current restoration at the heart of new apartment development Ryan and Leveson

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Harry Triguboff’s Meriton group has bought its second Mascot development site this year, adding to a war chest comprising $300 million worth of development sites across Sydney.
Triguboff, Australia’s sixth richest man with a fortune estimated by BRW at $4.95 billion has acquired a <a href="https://www.commercialrealestate.com.au/property/2010468589/for-sale/nsw/mascot/development-land" target="_blank">17,150 square metre site at 200 Coward Street, Mascot</a> in Sydney’s southern suburbs for $47 million.
It last sold for $11 million in 1998 when acquired by the Queensland Local Government Superannuation Board, the trustee of LGsuper, a super fund for current and former Queensland local government employees and their spouses.
It comes just a month after Meriton spent $39 million on a <a target="_blank" href="https://www.propertyobserver.com.au/news/harry-triguboff-buys-lane-cove-service-station-with-tower-approval/2013051261299?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">North Shore Sydney service station</a> in Lane Cove from Bob Rose’s Rose Group with plans to build a $300 million residential tower development featuring 440 apartments.
The Mascot site on the corner of Coward and O’Riordan Streets currently operates as a multi-unit industrial estate with tenants including chocolate maker Lindt.
An apartment development on the site would overlook Mascot Park with Mascot railway station and town centre just a short walk away.
It was sold by Michael Crombie and Jonathon Canavan of Colliers International following a tender process which closed on June 12 and with the potential for 380 apartments.
Crombie tells Property Observer, while there has been no planning in relation to the site, the expected number of units if a compliant scheme is proposed is around 401 units.
He confirmed that Meriton was the buyer.
“The site has exchanged with a three month settlement date, not subject to anything,” he said.
It has proposed mixed-use residential zoning.
In February this year, Triguboff announced that Meriton had acquired a 31,500 square metre industrial site in Mascot for $100 million from industrial landlord Goodman Group. He plans to build 1,000 apartments on the <a target="_blank" href="https://www.propertyobserver.com.au/developments/harry-triguboff-celebrates-80th-birthday-with-proposed-%24100-million-inner-sydney-site-acquisition-and-calls-for-more-rate-cuts/2013030459705?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">19-33 Kent Road site</a> near Sydney airport.
Meriton is currently selling more than 2,000 apartments off-the-plan having spent around $300 million on development sites in the past 18 months”.
Triguboff's first project dates back to 1963 when as a clerk, he built his first block of units in the<a href="https://www.propertyobserver.com.au/new-south-wales/harry-triguboff/2013013159060" target="_blank"> Sydney suburb of Tempe</a>.
May 2013 – Lane Cove
Harry spends $39 million on a <a href="https://www.propertyobserver.com.au/news/harry-triguboff-buys-lane-cove-service-station-with-tower-approval/2013051261299?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">North Shore Sydney service station</a> with plans to build a $300 million residential tower development featuring 440 apartments. The 150 Epping Road site in Lane Cove is acquired from Bob Rose’s Rose Group, which received development approval for the site in August last year.
February 2013 - Mascot
Harry acquires a 31,500 square metre industrial site for $100 million from industrial landlord Goodman Group. The sale is confirmed by Goodman after Meriton leaks it to The Australian. He plans to build 1,000 apartments on the <a target="_blank" href="https://www.propertyobserver.com.au/developments/harry-triguboff-celebrates-80th-birthday-with-proposed-%24100-million-inner-sydney-site-acquisition-and-calls-for-more-rate-cuts/2013030459705?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">19-33 Kent Road site</a> near Sydney airport.
February 2013 – Olympic Park
Harry pays a <a rel="nofollow" href="https://www.meriton.com.au/blog/meriton-buys-olympic-park-site/" target="_blank">reported $22 million plus to buy a 15,000 square metre</a> site with plans for 300 apartments in Sydney’s Olympic Park. The site offers strong transport links, is a corporate hub with over 100 companies based around the sporting complex bringing in more than 10,000 employees every day.
October 2012 - Rosebery
Harry acquires a former industrial property in Rosebery in inner south-east Sydney with plans to build 200 apartments. Meriton pays $21 million for the site.
August 2012 - Waterloo
Harry purchases on McEvoy Street in Waterloo, with plans for 220 apartments.
July 2012 - Lewisham
Harry spends $48.5 million to buy the <a href="https://www.propertyobserver.com.au/residential/harrytriguboff-s-meriton-buys-lewisham-estates-development-site-for-%24485-million/2012071755616" target="_blank">controversial Lewisham Estates development site</a> which has amended potential for between 377 and 430 units. He boasts that he'd beaten Frasers Property, Toga, Crown Group and Ralan to win the tender. Charlie Demian of the Demian Group paid $8.5 million for the site in 2005.
March 2012 – North Ryde
Harry pays $25 million for a Macquarie Park development site in North Ryde, with plans for a $200 million apartment development covering 330 apartments. The site at 88 Talavera Road, across the road from the Macquarie Shopping Centre and close to Macquarie University, was acquired from property developer St Hilliers, whose construction arm was placed in administration two months later (May 2012) St Hilliers had acquired it in 2007 for $23.5 million.
March 2012 - Chatswood
The biggest site acquired by Harry in 2012 is on Thomas Street in Chatswood on Sydney’s north shore, with approval for 547 apartments. Meriton pays $50 million for the Thomas Street car park with plans for two towers of 29 stories each, one of which will be retained by Meriton as serviced apartments – a growing part of the Meriton business.
December 2011 – North Sydney
Harry acquires a 922 square metre site for serviced apartments at 80 Arthur Street. The sales price is not disclosed. The vendor was the Medi-care Centre Foundation, which acquired the land and office building in 1988 for $14.1 million.
December 2011 – Zetland
Harry acquires a site at South Dowling Street with plans for 400 apartments and “excited by the prospect of further development in the Green Square precinct”. The initial design includes five buildings ranging in height from seven – 20 levels with 360-degree views. Meriton plan to provide a mix of 1, 2 and 3 bedroom apartments with a retail component strip.
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Harry Triguboff buys Mascot site for $47 million with plans for 400 apartments

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With development proposal approvals and construction starts appearing to be on the increase in several states in recent months, I thought it good timing to address the investment option of purchasing off the plan.
There has always been a degree of risk associated with purchasing residential properties off the plan, yet for some investors, a well-researched off-the-plan purchase can present solid opportunity and make for a good strategic addition to their portfolio.
So today I’ve shortlisted some of the major risks associated with off-the-plan buying, along with ways you can remedy these before they become bigger problems further down the track. Key to this though is that all of this risk management can be executed before you sign off on any contracts with a developer.
Risk: High penetration of other developments, resulting in weaker-than-expected values at completion
You need look no further than markets such as the Gold Coast and Inner Melbourne for examples of how this can be a serious problem for investors. High market penetration occurs when too many large-scale development applications are approved by a council and are completed a few years later, resulting in an instant oversupply of housing stock in that area that flattens capital values and reduces rental rates achievable.
This hurts investors who purchased a dwelling off the plan at a certain rate, because when the market becomes oversupplied, almost overnight, values can drop sharply, as can the rental rates for such developments due to so much choice in the market.
Prospective tenants can become picky and this can leave some developments struggling to find tenants to occupy these buildings. This can significantly reduce the profitability of these dwellings and overall make for a bad investment.
You would think developers would try to avoid this occuring more often; and they certainly do not intend to pit themselves against so many competing developments in an area, but it is not always avoidable. Sometimes zoning restrictions enforced by councils can buck the trend of where the demographic data is ‘telling’ the developers to build their next block, resulting in developers having to pick their second, third, or fourth favourite site for a particular construction.
This occurance can often result in them being forced to develop in a very competitive area for them. Not really ideal for many parties involved.
Remedy: Research other projects in approval &amp; construction in an area
This is a common risk associated with buying off the plan and a real problem for investors. The best practice here is to do your own research on the area where you are interested in a particular development.
Do not be lured or attracted by the developer’s ‘word’ that their opportunity is particularly unique; or their assurance that there is genuinely a limited supply or restriction to other developments appearing in your chosen area. Instead, contact the local council of this area to get an understanding of the area zoning.
Most councils in Australia have this information, along with a list of the pending development applications (and their approval status) readily available on their websites. If not, call them. This will give you a feel for the future use of the area where your desired block will be located. Additionally, investigate the surrounding dwellings in proximity to where the building is. Things to look for when doing this are:
-          Hertiage listed sites. In a word, these are great. So your desired block is going up in amongst four parallel streets full of mostly heritage-listed workman’s semis/cottages? Great! This means that those little dwellings are not going to be bulldozed any time soon, potentially making your desired apartment block as rare as hen’s teeth in that area, which in turn could result in your dwelling holding its value or increasing in value faster
-          Former-industrial areas going through gentrification. Be cautious here. If there are many old factories or industrial businesses surrounding the area, and some are already being bulldozed over, be weary. Often times, when an area gentrifies, it means the land becomes more valuable being used as blocks of apartments, than, say, it being used as a row of little mechanics, warehouses, storage facilities and so forth. This could mean your area is at risk of becoming an apartment ‘jungle’ in coming years. Proceed with caution in this instance.
 
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Risk: Wrong property type for area
Another risk commonly associated with buying off the plan – but also for purchasing established dwellings – is the property type and its appropriation for an area. One would think that a developer would have a keen eye for ensuring they build the right property type for the demographic demand within a suburb or area, but they do not always get this right!
For instance, what good is purchasing a 3-bedroom, 2-bathroom, double-car garage unit off the plan, in an area where the strongest property demand is for studio and one bedroom apartments? Or conversely – and this is actually quite a common occurance – building little 2-bedroom townhouse or apartment developments in regional towns where the demand is more for detached houses on bigger blocks with good sized yards.
Buying the wrong property type off the plan for an area can result in poor re-sell values and/or a struggle to find tenants. You may find a tenant quickly, but they may not be willing to pay the desired rental rate, if the property is not their ‘first choice’ for that area.
Another thing to be mindful of is the more widespread trend of an ageing population and catering to their needs. Developments in regional towns and coastal areas where tree/sea-changes are likely to migrate to, in their later years, should be considered carefully.
Is a top-floor apartment in a three-floor walk-up building with no elevator, such a good idea, if it is in an area where every year; more and more retiree and baby-boomers are migrating to?
Remedy: Study your desired area before shortlisting off-the-plan developments
Get to know your potential area and do this in several ways:
-          First, use online tools to study the demographic breakdown of your chosen area, to get a feel for the type of family (or single-person household), and develop a ‘persona’ of who is most likely to be living there. Is the off-the-plan unit befit for their needs?
-          Actually take a walk in the area. Buy a coffee at the local cafe, and people-watch (one of my favourite pasttimes I picked up back in the day when I was a backpacker). You learn so much about the inhabitants of an area in this way. Get a feel for what they like and the lifestyle features that are valuable to them, and this will pave way to how they are likely to live.
-          Look at recent sales on real estate sales websites. What kinds of properties are selling the fastest? Talk to agents in the area to get a feel for the things that buyers and renters demand the most, in an area. These people are your best resource in finding out what an area is like.
 
<hr class="system-pagebreak">
Risk: Wrong property features for an area
A similar risk to the above but altogether more subtle; where ‘property type’ typically refers to things like bedroom volume, whether it is a unit, villa, townhouse etc, and the parking situation; property features is more specific to the features that will make a would-be tenant, when inspecting the interior, say ‘yes – this place has everything I need’.
If the development is in a lower socio-economic area and the developer is keenly spriuking the ‘luxury’ features of the building, this should raise alarm bells in your head. Astute property investors are keenly aware of the risk of overcapitalising on a property, especially when it is off the plan.
What good is having expensive Smeg appliances, spa baths, plush Persian fibre carpets, and intricate feature wall designs in each room, if your target tenant is not the type to pay extra rent to have such features? Even worse, if your would-be tenant does not value such things, it is likely they will not take particularly good care of them.
Conversely, if you are eyeing off a development in an inner-city, high renter-to-owner ratio, ‘commuting executive’ kind of area, it would be risky to buy off the plan in a development that does not cater to the needs of these people. So, a modest development with no gym, cheap fixtures and fittings, and poor security, might not be the best investment for this demographic.
Remedy: Study your desired area before shortlisting off-the-plan developments
The remedy here is exactly as above – research your demographic ‘persona’, before buying off the plan. Who is most likely to be living in it? What kind of features would they need or want? Cut out the ‘noise’ of the developer’s pitch, and assess what features, fixtures, and inclusions your target audience would truly want.
Take yourself out of the picture. Unsuccessful investors will assess a development based on their own personal desires and likes. They may really like the kitchen colours, or the floor plan works for them personally. But this is not about you.
You will not be living there, so start thinking of whether your desired tenant, or owner-occupier that you’ll be reselling this property too, will like it. Go to open-house inspections on near-new dwellings in the area and get a feel for how these places look and the features they have.
 
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Risk: Trusting a developer’s numbers without checking figures yourself
When buying off the plan, developers will present capital growth projections, forecasts of rental growth, and may even have a third-party industry expert provide assurance of future growth figures to hand. Nothing really is assured, though.
The reality is that there is no way to know this for sure, particulary if the developer is basing their metrics on flawed or missing data sources to begin with. Trusting only their figures (however knowingly or unknowingly skewed or biased these may be) is a road to failure for off the plan buying.
Remedy: Seek out independent numbers and see if these correlate
There are a number of resources you can seek council on, to verify numbers or refute a developer’s forecast:
-          Sources like RP Data will identify recent sales; mid-long term growth patterns in terms of values, and actual historical vacancy rates for the area
-          If you have collected numbers and statistics from elements I’d mentioned earlier, these will also help you here to verify the likelihood that the developer’s ROI numbers stack up
-          Ask for references from this developer on previous completed projects, and request to see an ‘end-to-end’ case study of success stories from their last development. If they cannot provide these, or refuse to, alarm bells should be going off
-          Google the developer’s name and their company name too. Add in the word ‘Somersoft’ into your search term bar and you should be able to find chatter on the Somersoft forums about this developer, their reputation, and (hopefully not) any horror stories from previous purchasers from them. Developers often settle extreme cases in and outside of the courts, and in either instance will likely impose silence clauses in these settlement terms contracts, so investigating the blogs and forums can be a great option to hear real stories and accounts
 
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Risk: Agreed fixtures, fittings, and inclusions are not honored at completion
I am conscious that I am painting a negative picture of developers in some of the risks identified above. Though many in the industry regard them with little high regard, developers are not ‘bad’ people. Well, most of the time. Just like buy-and-hold investor types; developers are in the business of making high profit volumes.
And so they should, really, considering the degree of risks these companies take on, in executing these projects. However, most of you will be aware of horror stories where developers promised quality/luxury appliances, lighting, flooring, and any other features, yet at the end of construction these were replaced by inferior alternatives. This becomes a problem when valuers assess the market value lower than expected at the end of the project
Risk: Get your solicitor to approve the contract that details precise inclusions, precisely!
As you move closer to contract stages with the developer, get in writing as part of this; every single inclusion and feature/fixture/fitting that is to be part of your property purchase. Have your solicitor cast his or her eye over it before signing off. Be particularly weary of developers that give you grief for requesting such levels of detail. This can be extensive but worth it.
Even go so far as to name the brands of the toilets, dishwashers, ovens, and so on that the developer is saying they will use in the finish. On items where brand name is not possible, you need to ensure that the category is detailed. For example, if floating floorboards are to be laid, this must be specified, or else cheap carpets could wind up there in the end.
Another one is double-glazing on windows; particualry in inner-city developments; be sure to have this as a contractual inclusion if they’ve mentioned it; and if not, agree a price for their inclusion at point of delivery. Things like floor-plan adherence, ceiling heights, and voltage of lighting fixtures , should all be specified contractually.
Risk: Developers pitching future success of an off-the-plan purchase on the ‘promise’ of future infrastructure
Sometimes developments that are not as initially profitable for a developer as once desired, need to be marketed in different ways. Another investor-buyer trap that one can fall into is being sold the idea that because there is new school/hospital/railway station/employment hub ‘planned’ for an area; the future demand for the development is a sure thing.
This is dangerous territory. Some buyers will purchase properties off the plan in a development because they are told by the developer that the future use/growth of that area is guaranteed because all of these great plans ‘have been approved by council or state’.
After buying, and said future infrastructures are scrapped and never even built, the property may not hold its value very much nor produce much rental demand due to the area never really growing.
Remedy: Do your homework with the local or state government on the actual progress of these infrastructures
Most state governments in Australia sadly seem to be in a perpetual state of near-bankruptcy. For this reason, infrastructure and planning developments regularly get delayed or even worse, scrapped. Take Sydney’s north-west rail link, which was in various stages of ‘planning’ since the late 1980’s, but took until 2013 before actual construction sites started appearing to lay the rail line foundations and diggers commenced ripping up the dirt.
Perhaps my perspective is ever-skeptical, but you would be wise to not believe that any state government infrastructure development will go ahead – no matter if it has been given an ‘official approval’ – until you actually start to see soil being penetrated by machinery. As for non-state enterprises, like new private schools or business parks in close proximity, you need to conduct extra due diligence to be assured that they will go ahead.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://propertyspectator.blogspot.com.au/">Property Correspondent.</a>
 
 
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The risks of buying off-the-plan and how to remedy them: Cameron McEvoy

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The Chenchow Little-designed, Freshwater House - with automated heated lap pool with Bisazza tiled waterfall flowing to pond - has been sold.
On the market for the first time with a price guide of over $4.75 million, it was passed in at weekend auction for $4.1 million, then sold after post-auction negotiations. Its an undisclosed price understood to be close to $4.5 million.
<img alt="littlejune24one" src="/images/stories/2013/06/littlejune24one.jpg" width="470" height="311">
Built in 2008, Sydney's Freshwater House won the coveted Robyn Boyd award – Australia’s peak architectural award for residential – for <a href="https://www.chenchowlittle.com/p-freshwater-house" target="_blank">Tony Chenchow </a>in 2009.
The property features four bedrooms and three bathrooms over three levels, with the upper level dark-bronze panels retracting at the push of a button.
The property also boasts an elevated swimming pool with a waterfall which was flowing on its very wet Saturday auction day.
Located on Undercliff Road, Freshwater House is only metres from Freshwater Beach.
The Undercliff Road selling agent was Michael Clarke of Clarke and Humel Property as well as David Rothschild from LJ Hooker Seaforth.
The median house price in <a href="/news">Freshwater</a> is $1,242,500 according to RP Data.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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Chenchow Little Freshwater House sold after weekend auction

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The most expensive property offered for sale last weekend, Lynton, in Albert Park, failed to sell at auction and was passed in on a vendor bid of $6.2 million.
The triple fronted Victorian, at <a target="_blank" href="https://www.cayzer.com.au/index.cfm?pagecall=property&amp;propertyid=2366615&amp;menuItemID=">85 St Vincent Place</a>, attracted one genuine bid of $5.8 million before a crowd of 400 people.
The vendor then made two bids of $6 million and $6.2 million before the property was passed in.
Built in 1892, Lynton is set among leafy surrounds opposite the St Vincent Gardens on 740 square metres. An outstanding example of period architecture, the balconied residence with picturesque front garden has two street frontages, a grand entrance foyer, six bedrooms, five bathrooms and formal sitting and dining rooms.
Its well-appointed kitchen leads to a conservatory meals area, family room, and basement billiard/rumpus recreational area with substantial wine cellar.
The property hasn’t had much luck at auction: it was passed in on a $5.8 million vendor bid in October 2008. Then, after a house contents auction, it sold quietly for $4.8 million in May 2009.
The selling agent, Cayzer Real Estate, in April sold three unrenovated terraces at 73,75 and 77 St Vincents Place for a total of $12.3 million.
The auction clearance rate of 71% came from 681 results reported to the Real Estate Institute of Victoria. Vendor bids were prominent, accounting for 102 of the 197 properties that were passed in.  A further 58 results were still to be reported.
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Albert Park's Lynton fails to sell at auction despite huge crowd

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The Australian Tax Office is warning users of the virtual currency Bitcoin that it can track who is using it following concerns that it could be used to hide transactions and evade paying tax.
Bitcoin is a virtual currency that launched in 2008 with the aim of facilitating online transactions, but concerns have been raised about its volatility and the anonymity it creates between bitcoin payer and payee.
ATO senior assistant ­com­missioner for the cash economy Michael Hardy told The Australian ­Financial Review it was confident it could track down the identity of bitcoin users saying it was “no more anonymous than physical cash”.
He said the ATO had the experience to deal with the new currency, was monitoring the currency and was confident of catching any misconduct.
Bitcoin is also facing scrutiny from the US Treasury department and US regulator Commodity Futures Trading Commission (CFTC).
While it has yet to be used to purchase property in Australia, it has been used to make payments in relation to property transactions.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/industry-news/secret-agent-jumps-on-the-bitcoin-bandwagon/2013050260955" target="_blank">Melbourne buyers advocate Secret Agent </a>accepted its first Bitcoin payment in May for services relating to a single-fronted terrace house in Carlton.
The buyer, a web entrepreneur called ‘Cosmo’ paid the Secret Agent 10 bitcoins valued at $130 each at the time for the $1,300 fee for its advice and recommendations.
Secret Agent managing director Paul Osborne said Bitcoin transactions could become much more common, though he is only accepting bitcoin for smaller payments.
"We think it could take off," he said.
This week in the US, a start-up venture Coinsetter will launch as a trading platform for bitcoins potentially allowing larger traders using the web currency.
Regular Property Observer contributor Pete Wargent wrote of the volatility in Bitcoin prices in<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/real-estate-is-only-worth-what-someone-else-will-pay-for-it-pete-wargent/2013051561392" target="_blank"> mid-May</a> illustrating this with a chart:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/larry_uploads/bitcoin.jpg" alt="bitcoin" width="470" height="243">
"Since this chart was produced, over the last weeks, bitcoin prices have been all over the place. From a peak of well over US $200, the price quickly swung to a low of just $105, yet by Wednesday the price had rebounded to $175 before plummeting again to $120 on Thursday," wrote Wargent.
"The extreme volatility caused one major exchange to call a 12 hour halt to trading and has caused skeptics to question whether an item with such wild swings in prices can even be referred to as a 'currency' at all.
"The total supply of bitcoins in circulation today is said to be worth around $1.3 billion. Where that figure will be in 6-12 months time is anybody’s guess."
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Bitcoin users in ATO sights as use in property transactions set to rise

<html><body>Australian Property Monitors (APM) has released a list of auction results in Adelaide for the weekend of June 22. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank" rel="nofollow" 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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