Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

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.

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.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<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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Perhaps the most important financing consideration investors have is selecting the right lenders to partner with. Lenders can be viewed as your partner to success – without them, <a href="/guides/balancing-a-property-portfolio">building your portfolio</a> may not be possible.

When people choose between different lender options for a loan, it is usually a very simple thought process: ‘what loan best suits my requirements?’. However, it is natural human behaviour to prioritise the most immediate questions when thinking about these decisions, such as:

<ul>
<li>Which loan has the best rate at the time of signing?</li>
	<li>Which loan has the lowest application fee?</li>
	<li>Are there any promotional offers that take my fancy like rewards points?</li>
</ul>
But this is short term thinking. When you are looking to grow an investment portfolio over time, a loan should never be a ‘strait-jacket’. It’s important to remember as an investor, you’re looking for ways to have more options and possibilities in the future, not less! 

It is really about how to make sure you are always playing the long game – bringing your long-term goals front and centre in your decision making.  Property investing is a long-term game, and your financing strategy and lenders need to match up with these objectives.  Thinking ‘short term’ may ‘snooker’ you in the long run and stop you from achieving your goals.

Instead, the right questions investors should be asking is whether the lender and loan product can help you achieve your longer-term goal. Investors should be seeking to balance:

<ul>
<li>Lenders that suit a diversified lending structure that allows you to multiply your borrowing power over time; and</li>
	<li>Lenders that offer the flexibility and control you need to grow a portfolio over time.  </li>
	<li>To go into further detail on these points, you are looking for some key loan features that become very useful for those trying to grow a portfolio, which are often overlooked in favour of the short term considerations. </li>
</ul>
Lenders that can offer you the following features will pay dividends in the long run:

<ul>
<li>Favourable policies on releasing <a href="/guides/how-does-equity-work-in-property">equity</a>, allowing customers to access equity with ease.</li>
	<li>Easy access to valuations on your existing properties, ideally through a computerised valuation system where the lender can provide an instant valuation without the need for a full inspection.</li>
	<li>The ability to split loan accounts and maintain separate offset and redraw facilities.</li>
</ul>
These may not be the first things you think of when assessing a lender, but as your portfolio grows and your affairs become more complicated, these are powerful tools. I encourage any budding investors to keep these in mind at the start of your journey, it will leave you in a better position down the track.
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jieyee_46282

How investors looking to grow portfolios should select lenders

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With the effects of COVID-19 being felt across the world’s economies, the question for those in the property market is “<a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">what's going to be happening in the current financial climate and how is the market going to return, if it does?</a>”

Before COVID -19 hit Australia, we were already seeing a number of different jurisdictions in different states around the country making changes to their residential tenancy act, and some of them are still in that process right now. These changes are weighing in favour of the tenant rather than the landlord. 

A number of these agencies, councils and legislation changes basically advised landlords and residents that “they are currently in an embargo situation and need to work with each other to create an agreeable outcome.” 

Of course this ‘work it out yourselves’ approach has both good and bad outcomes for people on both sides of the property fence. One positive of this is that for the first time, many people who sat on the left side of society, the socialists, who have previously viewed landlords as capitalists who are just out to make money from them, have suddenly realised that this is not the case at all. The majority of property investors in Australia, only own one or maybe two properties, and those landlords are the ‘mum and dad’ investors who own these properties in an attempt to put their family in a better financial position. 

The outcome of that is the realisation is that really, we are all the same. 

In various stages and circumstances of life, we are all renters at one time or another. We are all landlords at other times, and we're all homeowners in yet other moments of life.  When it all boils down, there's not much that will change among us. 

What has been startling during these times of lockdown, job losses and property uncertainty is the research that showed only 30% of people have enough money to live on a week to week basis. But what does that really mean? Well, it means that in the property market, we need to ensure that we can get an outcome that has a positive benefit for everyone. 

At this point in the economy, we are in a position of having a 'V' shaped drop, and we are only halfway through. From the beginning of the announcements of Covid-19, before there were discussions or decisions about a social lockdown, I suggested that what we were going to see was a decrease in property prices, a decrease in the sentiment of the market and then a very quick return of market sentiment as well. So, to put it simply, in a V-shaped economy return there is a sharp drop and a sharp increase. This is similar to when the political landscape prepares for an election. When an election is announced six weeks out, there is a stall in the property market and the only properties that sell before an election are those where people are desperate to sell, giving rise to a buyer’s market. 

In a buyer's marketplace, the properties sell for a low price point or with conditions that are not in favour of the seller, which means as an overall median, we witness a drop in the marketplace. Then, as soon as an election is over and the results are announced, within a six-week period, there is a return of confidence in the marketplace, the sales go back into place and then we generally have things turn into a sellers’ market.

It isn’t possible to be 100% correct with predictions but, if we look at 18-year property cycles and the movements in Australia during 1960, 1972, 1989, 2004, 2008, 2015, experienced investors are able to see a pattern. If we experience a second wave of the pandemic, we will see what is called a 'W' in financial and property markets. This means a sharp drop, in the three months and if there is a second run at COVID-19, it will drop again and then go up again. 

I believe that one of the last things that the Australian government wants to see is for landlords to go under financially. Politicians don’t want to experience an economic landscape where there is no investment and no growth. To avoid this situation, the governments are going to be working towards ensuring that you, as an investor, have a better outcome moving forward, because if your tenant stopped paying rent, if you went broke, generally there would be a run for the banks. If you are mortgaged, they would have to foreclose on you and nobody wants that, especially not the government.

The banks wouldn't have enough money because the funds that they lent you actually came from the savings of those people who need it the most. Those are the ones that are most likely renting where they live and it’s their savings that are lent out to you as an investor. And so, it would be a catastrophic event if mortgages had to be foreclosed because with that run to the banks, they would remove that money out of the marketplace. 

Coming from many years of property investing experience, my opinion is that we will witness a fast return to a very strong marketplace. It is an opportunity to begin looking at those areas where you can buy right now for the prices that you could buy 10 years ago. The suggestion here is not buying new houses and land packages but about purchasing properties that have the potential for you to do something more to them. During this current period there is only one state in Australia where it is possible to buy properties at the prices you would find back in 2004. These are properties that are 15 years and older where you have the ability to buy, create cash-flow and ride the capital growth. 

Sitting on capital growth and hoping things are going to work for you isn’t the best way forward.  By researching marketplaces, looking at the 18-year cycle, and working out where you think the market is in that cycle, you can see if you can get the capital growth, and, more importantly, how you can manufacture growth. 

The way to get manual growth on the property is by doing something to increase your return from that property. You may think this means ‘just renovating’, but using the flipping strategy is not the best approach here. The wealth creation that you are going to see in your lifetime is from holding onto property, not by buying it, doing something to it and then selling it. But for you to be able to hold it, you need cash-flow. Creating that cash-flow from the actual property itself is much more than renovations. By looking at the possibilities that property can offer, you may be able to do a subdivision. Some questions to consider might include:

<ul>
<li>Is there potential for a secondary dwelling or can you have a duplex on that block? </li>
	<li>Can you create a duplex secondary dwelling or a type of house that has more potential? </li>
	<li>Can you use the unused and unknown policies around the country that allow you to transform those properties into micro-apartments that give people their own self-contained areas, their own kitchen, sitting area, lounge-room and bedroom and involve themselves in one communal area of the house? </li>
</ul>
Depending on which Australian state you're in, this may be a kitchen, a living room or a lounge room. It could be a number of different aspects that create one communal area. When you think about this as an investor, you will realise it's not a ratio return. If you compare the rents of a one, two, and four-bedroom house, if the one-bedroom house rents for $100, the two-bedroom doesn’t rent for $200 and the four-bedroom for $400. It’s much closer. Research from the Department of Health and Human Services shows that a four-bedroom medium-priced house across the metropolitan area for rent is $415 and a two-bedroom house is $400 so it's only a small difference. So, if you know you can create smaller micro-apartments in larger houses, you get a better outcome, and a way to create additional revenue for yourself.

If you can purchase property and cover your cash flow, you have a good outcome for the future and the financial ups and downs won’t impact you as greatly as if you had to find money to make up the shortfall each and every month.  If you can hold a property in Australia for longer than 10 years, you can double your equity and wealth. For example, if you bought in the peak of the last 50 years, around 1988 to '89 and kept that property with positive cash flow, by 2004 it would have tripled its value.

Right now, it’s the same. The property market is where you get cash flow and your wealth creation happens over a period of many years. Cash flow gives you your lifestyle. Equity gives you your wealth and an ability to leave your job and know that when you retire, you will have plenty of wealth in your name.
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Bounce back? Dip? Boom? Bust? What’s next?

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There is a lot of speculation in the media right now about property prices, clearance rates, the bottom of the market and basically everything else you can think of. In fact, if you have a pulse and a theory, you are probably going to get some airtime. Personally, I think there is more value for property investors in studying the longer-term trends and there are a few key trends that are likely to continue.

Just before the COVID-19 pandemic, we completed a four-year study on <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">investor behaviour</a>. The study took four lots of 1,000 property investors to chart any trends over the combined period and 4,000 residential properties. The data is a mix of unique information we gather from our investor clients through the course of completing our tax depreciation schedules, and from our own investigations, we found some interesting trends.

1. Investors are buying more new property than they ever have

It was not a huge surprise, but it is a trend that has some sizable implications. Even in the last week, we have had incentives pointed at new properties with the Government announcing cash incentives to build. One of the biggest changes that shifted investors towards new property was the May 2017 changes to tax depreciation legislation for plant and equipment items. Basically it meant that if you bought after May 2017, you’re no longer able to claim key deductions for items such as floor coverings, window furnishings, air conditioning and kitchen appliances unless you either buy a brand new property or buy the asset brand new. <a href="/guides/looking-to-buy-an-investment-property-top-3-things-you-must-do-online-first">New property</a> was already arguably more attractive from a tax deductions point of view, but this really shoved the incentives squarely towards the new property investor.

What did the data show? Well, the four-year increase in people buying a new property was up by 107.53%. As at the end of last calendar year, 49.6% of investors purchased a brand-new property. 

What are the implications I mentioned earlier? Well if there is one place that property spruikers tend to loiter, it is around brand new property. There is a whole industry dedicated to selling brand new property and that is not in itself a bad thing, but there’s potential for advisors to value the commission cheque over the value of the investment. It’s much easier to overpay for a new property than it is for an established one (though I’m sure you could manage it), and there are plenty of stories about investors trying to settle on their off-the-plan apartments that have fallen in value even before the development has finished construction. Generating new supply is good for the economy and the construction industry, but investors need to be careful that they are doing their due diligence and receiving the best advice.

2. A lot of property investors become investors <a href="/guides/how-to-invest-in-property-with-no-money">by accident</a>, and the numbers are increasing.

25.7% of investors occupied their property themselves, prior to turning it into an investment. Now that was once a complete surprise. I couldn’t have guessed that the number would be that high. For anyone not paying attention, that’s a quarter of residential investment properties were not investments from day one!

Ok, so now you’re thinking that it was too hasty for me to say “these people were accidental investors, after all this could have been their plan from the start. You’ve also got your investors that live in the property for 12 months to claim the first homeowner grant and then move out.” These are all great points, hypothetical reader voice in my own head, and in many ways you are correct. It’s not true to say that ALL these investors are accidental. However, you’d be surprised how little of them are living in their property for strategic reasons. For me, it all comes down to the magic little piece of extra data, that is, the average number of days these investors occupy their property for. If it was for a first homeowner grant, it would be close to 365, right? Well the average number of days was 1,537 last year. So that is, on average, of the quarter of all investors that occupy their property prior to renting it out, the average amount of time they spend living in it is 4.2 years! That figure for me says that there’s more to this story. Yes, there will be some first homeowner investors, yes there will be some tactical investors. However, there will also be some homeowners who want to upgrade and realise that their broker is telling them they don’t need to sell their old property to buy the new one. The percentage of people living in their property prior to rental has gone up just shy of 4% per year over the last 4 years, so it is increasing as well.

 What are the implications here? Well, it is important to consider whether that property is indeed ‘<a href="/guides/how-to-ensure-financial-return-on-your-property-investment-in-15-simple-steps">investment grade</a>’, but that’s a whole other story. The study found many other trends that provide some valuable insights for investors, but those are the two I’ll leave you with today. You can get a copy of the ‘MCG 1000 Assets Study’ <a href="https://1000assets.pages.ontraport.net/">here</a>.

To summarise, property investing is a game of patience and too many investors chase the hotspots or try and time the market. The same rules of investing pre pandemic are likely to hold true. That is that good quality assets with scarcity value will remain popular. If it was in demand before, it is likely to be again, so try and avoid the noise and read the long-term trends.
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2 Property investor trends that are likely to continue post pandemic

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Whether you just own a home, or you have an expansive <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">investment property</a> portfolio, you might like to consider opting for a Testamentary Trust Will.

A Testamentary Trust Will is a will that is only set up after you pass away and acts as a discretionary family trust. The trust has one or more people who hold and control the trust property (“the Trustee”) on behalf of a range of other persons who will benefit from the trust (“the Beneficiaries”). As it is discretionary, it is entirely up to the trustee to decide each year which one or more of the beneficiaries will receive any income generated by the trust assets, and who will receive the remaining assets when the trust eventually ends.

So what are the advantages of having a Testamentary Trust Will?

First, flexibility. A simple old-fashioned Will divides a deceased person’s assets (their “estate”) into fixed shares (for example, between their children in equal shares). However, this will also mean that their children will pay tax on any income generated by their inheritance, at their own marginal tax rate (which could be up to 45% plus 2% Medicare Levy). Now, suppose instead that each child was able to receive their inheritance in a Testamentary Trust. This would mean that they could allocate the income from their inheritance each year between themselves and/or other family members, such as their spouse and their own children. It also means that they could allocate the assets in their trust flexibly as well between the different beneficiaries of their trust, depending on their individual needs. This flexibility allows for changes in personal circumstances so that distributions of income and assets can be made to suit each child’s needs from time to time.

Second, said flexibility together with special tax concessions that apply to a Testamentary Trust income gives rise to significant taxation benefits. Under section 102AG of the Income Tax Assessment Act 1936, any income received by a minor beneficiary (under 18 years old) from a Testamentary Trust is treated as an “excepted trust income” and taxed as if that beneficiary were an adult. This means that adult tax rates apply so that the first $18,200 received by that beneficiary from the trust is tax-free every year. 

For example, say Homer’s Will leaves two investment units directly to his wife Marge. Say they earn a combined rent of $50,000pa. If Marge is on the top tax rate, she will pay tax and Medicare Levy of $23,500 just on that income. However, if, instead, Homer’s Will leaves the units to a Testamentary Trust for his wife and 3 kids, if the kids earn no other income then the $50,000 rent can be split equally between them and they pay no tax at all – a saving of $23,500 in just one year! If this situation continued for 10 years, the savings could add up to $235,000!

Third, by having assets held in a discretionary Testamentary Trust, each child’s inheritance is protected from lawsuits that might arise from their own business or profession, or from creditors if they fall on hard times. This is because it cannot be argued that the child owns the assets, as they are just one of the number of potential beneficiaries of the trust who only get anything if the trustee says so. This also means that the trust’s assets are protected if any of its beneficiaries file for bankruptcy. It can also provide meaningful protection of trust assets in the event of a familial relationship breakdown, with the Family Court often treating the Testamentary Trust as a financial resource instead of part of the matrimonial property that is available for division by the Court.

The only drawback of having a Testamentary Trust Will is that it is usually more expensive to draw up than a traditional Will. Additionally, each year after the trustor’s death, the trust has its own tax return to lodge, which may cost around $1,500 - $2,000 per year. But if the tax savings are anything like in the above example, the Testamentary Trust will more than pay for itself.
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Why every property investor should consider a testamentary trust will

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Among the many changes that may occur in society over the coming months and years is the potential for one of our most inefficient taxes to finally be axed. <a href="/guides/step-by-step-guide-to-placing-an-offer-on-a-house">Stamp duty</a> has long been the bane of most property owner’s existence with buyers having to fork out tens of thousands of additional dollars for the supposed “privilege” of purchasing a piece of real estate. 
Over the decades, as the price of property has increased, the percentage rate of stamp duty has generally stayed the same, which has resulted in the cost of stamp duty soaring. 
In some cases, in exclusive <a href="/developments/sydney-nsw">Sydney</a> suburbs, for example, buyers are stumping up more than $100,000 every time they purchase a home. 
In many other locations, you won’t get much change from $20,000 to $40,000, depending on the property’s price point. 

However, it appears that a new way of tax thinking is potentially on the way.

Time to heave-ho

Stamp duty has been identified by experts as an inefficient tax that needed to go for years, but successive governments failed to listen. 
Perhaps it all seemed a bit hard, with State Governments now overly reliant on stamp duty proceeds to fund their budgets. 
Of course, we’re all currently living through some of the most difficult days of our lives, which has created the ideal conditions for significant changes to how we live, including the taxes we pay. The push to stamp out stamp duty has already begun, with many experts suggesting now is the time to give it the heave-ho. 
The timing is perfect, because stamp duty has always slowed down the market, which we need to be firing to help reignite our economy. What I mean is that stamp duty always prevented more people from buying a property, because they simply couldn’t afford the additional fee to do so. 
Likewise, it stopped many other people from selling, which reduced supply, because they also didn’t want to have to pay stamp duty when they bought somewhere bigger or smaller or just something somewhere else.  
Removing stamp duty will also increase the deposits of investors and home buyers, which will give them more choice of where and what to buy. 
For example, in <a href="/developments/qld">Queensland</a>, the stamp duty on a $500,000 home is about $18,000. 
Say, a would-be buyer had saved $68,000, but no longer needed to pay stamp duty, their purchasing power has increased by a staggering 26 per cent. 
That means they could not only potentially buy a more appropriate property for their needs, but they could also simply buy sooner because they no longer have to stump up nearly $20,000 in tax.  

Of course, you can’t just remove a huge revenue stream and not replace it with something, which is likely to be land tax. 
How that will look in practice is not clear, but it’s likely to include an annual fee of a few hundred dollars for all property owners based on the rateable value of their land. 
That system would ultimately be more equitable whilst also providing the income that government’s need from year to year.  It’s clear that sometimes there needs to be a fresh perspective for big changes to occur, which is usually because of a change in political power. However, that is not the situation today. 
While all of us would prefer that <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">coronavirus</a> never existed, its impact long-term on our society may also include leaving a legacy of a fairer taxation system for everyone.
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Nick Dante

Why axing stamp duty will help everyone

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Crown Resorts marked a milestone for its Crown Sydney development on May 22. 
The ‘topping out’ of the building marked the completion of vertical construction for the 275-metre-high hotel resort and residences. 
The building, designed by world renowned architects WilkinsonEyre, is set to change the city’s skyline as well as create over 2,000 jobs in NSW. 
The 'topping out' was marked by a short site visit by the NSW Treasurer, The Hon Dominic Perrottet MP due to COVID-19 social distancing requirements. 
Alongside the Treasurer, was Crown’s Chair, The Hon Helen Coonan, Crown’s Chief Executive Officer, Ken Barton, Crown’s Executive Vice President - Strategy and Development, Todd Nisbet and Group Chief Executive Officer and Managing Director of Lendlease, Steve McCann. 
The continuation of the construction industry in NSW has enabled the site to keep over 1,300 workers employed daily.
There has been almost four million hours of work having taken place during the construction phase in total. 
Ken Barton, Chief Executive Officer of Crown, said: “The COVID-19 pandemic has presented Crown with many challenges and has required us to make some difficult decisions. We are grateful for the NSW government’s decision to keep the construction industry open with strict COVID-19 measures in place. 
"Not only has this supported over 1,300 jobs at our site at a time of great economic uncertainty, it also keeps us on track to provide over 2,000 more jobs when we open.”
Steve McCann, Group Chief Executive Officer and Managing Director of Lendlease, said: “When complete, the transformation of Barangaroo from a disused industrial site to world-class urbanisation precinct will deliver to the people of NSW a once-in-a-generation integrated residential, office, entertainment, transport and leisure destination.  
Crown Sydney will open its 349-room hotel in December 2020, alongside 14 restaurants and bars, and select retail. 
Homeowners at Crown Residences at One Barangaroo, located in the upper floors of the building, are on schedule to move into the building in the first half of 2021.  
Over 1,300 people will continue to work on the interior fit-out of Crown Sydney throughout the remainder of 2020. 
To date:  
<ul type="disc">
<li>Almost 8,000 of the 10,000 glass panels have been placed on the building’s exterior</li>
<li>Almost 237,888 tonnes of concrete have been poured </li>
<li>Over 20,000 tonnes of steel reinforcement and steel structure have been put in place </li>
<li>Over 100 suppliers have been involved in its construction with over 97% of suppliers being local providers operating in NSW and around Australia </li>
<li>Crown has remediated 220,000 tonnes of contaminated material as part of the redevelopment of its site and has contributed to the clean-up and remediation of the Barangaroo precinct throughout the build </li>
</ul>
By the end of fit-out there will be: 
<ul type="disc">
<li>50 different types of marble and stone used throughout the building </li>
<li>The hotel will feature crystal light installations, including 50 custom made designs </li>
<li>Around 1,800 artworks will be installed, 70% of which are by Australian artists </li>
<li>Over 50,000 shrubs and 300 trees grown in local nurseries will be installed</li>
</ul>
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Crown Sydney tops out after four years in construction

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Australian real estate developer, Beulah International, has gained approval from the Victorian State Government to develop their $2 billion Southbank by Beulah project.
The Green Spine building, set to become Australia’s tallest tower, will be composed of two towers, both with a twisting geometric class façade and terracing and has been conceived as a conceptual extension of the Southbank Boulevard.
<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/Beulah_SBB_GreenSpine_Podium.jpg" alt="">
Soaring to 365 metres and spanning 270,000sqm, the mixed-use precinct desires to become an unprecedented, globally recognised vertical village.
Southbank by Beulah was conceptualised alongside Dutch design firm UNStudio and local firm Cox Architecture — a refinement of their winning concept from the 2018 Southbank by Beulah global architecture competition.   The vertical village will comprise of four distinct collections of private residences, public and green spaces, including a five-star urban resort, world class experiential retail and commercial offices.
Other features include a rooftop sky garden, town hall, childcare centre, a health and wellness precinct and arts and culture spaces and programs.
 
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Southbank by Beulah to become Australia's tallest vertical village 

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The combined capital city auction market is expected to see a slight increase in auction volumes this week, with CoreLogic currently tracking 692 scheduled auctions.
Last week, a lower 612 auctions were scheduled across the capital cities.
While scheduled numbers are set to increase, with this week expected to be the busiest since mid-April, volumes remain substantially lower than typical.
Over the same week one year ago, 1,661 capital city homes were taken to auction.
There are 195 Melbourne homes scheduled for auction this week, up on the 168 over the previous week.
Sydney is expected to be the busiest city for auctions for the 6th consecutive week, with 382 properties scheduled to go under the hammer, rising on the 309 held last week.
Across the smaller auction markets, Adelaide, Brisbane and Perth are all expected to see a higher number of auctions held this week, while scheduled volumes are lower in Canberra.
There are no auctions scheduled in Tasmania this week.
<img src="https://www.urban.com.au/images/2020/5/28/CL%20MAY%2024.JPG" alt="">
The final weighted average clearance rate came in at 62.7% last week, surpassing the previous week’s 60.4% as the highest result since the week ending 15 March.
An example of the ongoing auction volume of Sydney is <a href="https://www.realestate.com.au/property-house-nsw-lilyfield-133537266" target="_blank">88 Cecily Street, Lilyfield</a> (pictured in title), set for auction this Saturday.
The four bedroom, two bathroom home has been listed with a price guide of $2.3 million
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Upcoming auction weekend the busiest since April

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EXPERT OBSERVER
The start of the Perth dwelling market recovery comes at an unfortunate time. In early 2020, the Perth dwelling market had four consecutive months of dwelling value increases, which is the longest stretch of capital growth since 2014.
The Perth dwelling market has a long road to recovery. By the end of April, the house market in Perth was -19.1% below its peak value at June 2014. Unit values have taken a larger hit, down -26.9% below the record high at July 2013.
Prior to COVID-19, most indicators for Western Australia were moving into an upswing. Unemployment had fallen from 6.9% to 5.2%, jobs growth was trending higher, population growth had bounced back to the highest level since 2014, housing supply was contained, and state final demand crept above the decade average.
But instead of momentum continuing from the trend seen at the start of the year, the onset of COVID-19 places it at the cusp of another downswing.
According to the 28-day rolling change in the daily hedonic index, Perth dwelling values have started to fall again. However, value falls have been mild at -0.2%. So far, Melbourne has seen the largest decline in property values in the wake of COVID-19, but even in Melbourne the change is less than 1%.
Weekly payroll data from the ABS, which provides an early preview of labour force conditions, shows job losses across WA have been slightly less severe than that across the rest of the country. The decline in payroll jobs across the state was 5.8% between the 14th of March and 2nd of May, as opposed to 7.3% Australia wide.
Perth has less exposure to industry sectors that have been heavily impacted by COVID-19, with 8.6% of the local workforce employed with the accommodation and food services and arts and recreation services sectors, compared with 9.1% nationally.
Despite heighted economic uncertainty, consumer sentiment levels have been improving. This is in line with a flattening of the curve and relaxation in social distancing policies, especially those specific to housing, new listing numbers are trending higher from their record lows.
Importantly, total listing numbers haven’t trended higher and are at the lowest level in ten years for this time of the year.
The trend towards a rise in new listings and consistently low total listings implies newly listed stock is being absorbed quickly by the market. As of late May, total listings were down 34.7% on where they were at the equivalent period in 2019.
Total listings across Perth counted in the 28 days to May 24th were just 13,962. Though this is a continued headwind to the real estate sector, it may be preserving stability in dwelling values.
What was once a drag on property could be a source of market stability
The strong link between mining and prosperity across WA created boom and bust conditions between 2011 and 2019. This extended to the property market. As mining investment declined significantly following a steel glut in China, job losses and resident departures across the state have left values in a downswing for years.
According to industry reporting, 2020 was the year mining investment would move through a trough, creating more jobs, and subsequent housing demand across WA. In fact, we were already seeing improving labour market and demographic trends through late 2019 and early 2020.
The past few weeks have seen an increasingly optimistic outlook for the mining sector because of a recovery in the Chinese economy. Some high frequency indicators such as coal consumption, traffic congestion and home sales suggest economic activity across China is at 90% of where it was pre-COVID-19.
Unlike recent tensions over trade in beef and barley, China is actually working to reduce barriers to iron ore imports, which is a major source of revenue for WA mining. The reason for rising iron ore demand is that Chinese steel producers expect a rise in government stimulus and infrastructure to spur production (which uses iron ore as an input).
This has contributed to a relatively strong rise in the value of iron ore and plans from some of Australia’s largest miners to boost production. Even without the relatively strong position of mining export commodities, work on mine sites may have been buoyed by long-term contracts and the relatively high liquidity of mining companies.
The mining sector has not been completely untouched by COVID-19. Some operations have been suspended, or capacity has been reduced in an effort to reduce the threat of infection at work sites. This is reflected in mining sector payroll job losses across WA, of 6.4% between the 14th of March and the 2nd of May.
However, mining companies remain optimistic. BHP signalled steel production over 2020 may even be slightly higher than in 2019 if a second outbreak of COVID-19 could be avoided.
Renewed vitality in the mining sector, and the subsequent boost to economic activity, is likely to provide some insulation in demand for the Perth property market. This would make the impending downturn less severe than it may otherwise have been.
Another key factor that should support housing demand across Perth is the sheer affordability of housing. At the end of April 2020, the median value of a house was recorded at just over $465,000 which was the lowest of any capital city.
The blend of affordable housing options and the expectation for more resilient economic conditions is a good recipe for Perth’s housing market to outperform.
ELIZA OWEN is the Head of Research Australia for CoreLogic
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pchatterjee-seVgoiQgz5

The interrupted upswing in Perth: CoreLogic's Eliza Owen

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With markets firming in many locations around the nation, some novice homebuyers and investors are searching for properties with low price points. 
Unfortunately, this often means they are selecting properties and locations purely because they “seem” affordable to them. 
In reality, often this means they wind up with an inferior property in a second-class location that will always be cheap. That’s because there are big differences between cheap and <a href="/news/city-of-melbourne-adopts-policy-for-mandatory-inclusionary-zoning-as-mechanism-to-deliver-affordable-housing">affordable properties</a>. 

Here are three ways to differentiate between the two. 

Cheap will always be cheap 

When a property is listed for sale at a price far below the norm in a particular location it is usually because there is something wrong with it. 
Now this could be that it has significant structural problems, which sometimes can be remedied. 
Most of the time, though, it’s because its location is a bit on the nose – meaning on a noisy main road, next to a train line, amongst an abundance of housing commission homes, or perhaps even abutting a petrol station. 
While you can generally remedy dwelling problems, if not too significant, you can never change the physical position of the block of land that it sits on, which will always have a negative impact on its price. 

Affordable price – for now 

The number one reason why a property can be classified as affordable is generally because its market is the same way. This doesn’t mean that it will stay that way forever. 
In fact, its market has all of the fundamentals that will likely see prices growth strongly over the medium- to long-term. These capital growth signposts include such things as a strengthening local economy with jobs growth, gentrification, <a href="/developments">major infrastructure, population growth</a> as well as more demand than supply. 
At present, specific locations within Greater <a href="/news/brisbanes-8-future-tallest-skyscrapers">Brisbane</a> are firmly in this basket in my opinion. One of the other reasons why property prices are affordable is because their price points are vastly below the “norm” in Sydney and Melbourne, yet wages are not that different. Of course, that is one of the reasons why hundreds of people are currently migrating away from southern capitals to the Sunshine State capital.  

Good suburb, bad pocket 

To make differentiating a cheap property from an affordable one even more tricky for the uneducated is the fact that they can both exist in the same suburb. 
A particular street, or streets, may be seen as more desirable than others, perhaps because houses have been renovated or they are within particular school zones. 
Houses in these locations, therefore, are affordable to the people who want to live there, which helps to drive prices higher. 
Conversely, there could pockets not far away that have properties priced for hundreds of thousands of dollars less. 
Novice buyers and investors falsely presume that being <a href="/buildings/nbh-at-lachlan-s-line-25-27-epping-road-macquarie-park">relatively close to the suburb’s “glitter strip”</a> will result in their property rising in value to the same degree. This is unlikely to happen, especially if their pocket is a bit “warty”, such as having excessive traffic noise, it falls outside a well-regarded public school zone, or it falls within a zone that has been earmarked for future transport infrastructure. 
Expert buyers agents understand their investment locations intimately and know the good pockets from the bad. 
They understand that while dwellings can be updated, its physical location within in a suburb will be the main difference between inferior or superior capital growth in the years ahead.
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