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

Joel Robinson

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

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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A three-bedroom Werrington brick house was last weekend’s cheapest auction sale in New South Wales, selling for $300,000 according to Australian Property Monitors.
Located at 20 Dunkley Place, the house sits on a 562 square metre block of land and features a large backyard.
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/20-dunkley-place-werrington/Property-Details-sold-residential-5234711">The property </a>sold for $10,000 over the reserve price, which was set at $290,000. It last sold for $19,750 in 1991 according to RP Data records.
Its listing agent Paul Abassi of Laing+Simmons St Marys/Ropes Crossing told Property Observer there were seven registered bidders present at the auction, most of whom were potential investors.
“The successful bidder was an investor,” he said.
Based on Laing+Simmons’ estimated $360 rental per week, the price reflected a likely rental yield of 6.24%, slightly higher than the average rental yield in Werrington which currently stands at 5.5% according to RP Data.
Abassi added that the market in Werrington is “pretty strong”. While the area is populated by “older people”, he told Property Observer that new homes are coming up, and younger families are “buying and renovating”.
According to the latest report by RP Data, the <a target="_blank" href="/news">median sale price for houses in Werrington</a> is $335,000, up 2.5%% on last year. The average discount required to sell a house is 4.2%, while private treaty sales average 67 days on market.
Other houses currently on sale on Werrington include: 70 Reid Street, listed for $379,000 by JLB Real Estate Werrington, and 205 Victoria Street, listed for $509,950 by LJ Hooker St Marys.
</body></html>

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Investors compete for $300,000 Werrington offering which sells at 6.24% yield

<html><body>
Just over a quarter of the unit hotspot suburbs picked by Australian Property Investor (API) magazine in its 2012 Hot 100 list outperformed the national unit market in terms of capital growth over the past year.
Mining towns like Gladstone and Mackay were among those that fizzled badly, analysis by Property Observer can reveal.
Of the 62 unit hotspots from the 2012 Hot 100 list where comparison are possible, only 16 suburbs managed capital appreciation greater than the 2.4% rise in national unit prices recorded for the year to December 2012 as measured by Australian Property Monitors (APM).
This follows Property Observer revealing earlier this week that of the <a href="https://www.propertyobserver.com.au/hotspots/hit-and-miss-hotspots-box-hill-flames-out-while-highgate-karratha-newman-and-other-wa-mining-locations-are-on-fire/2013042260643?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=hotspots" target="_blank">90 hot spot suburbs for detached houses</a> where comparison were possible, 25 locations recorded declined of 1% or more over the year, 19 locations treaded water, 34 recorded gains of between 1% and 10% in their median house prices and 12 managed gains of more than 10%.
The Property Observer analysis is based on APM median sales figures for the 12 months to January 2013 as quoted by API Magazine in its latest Hot 100 flagship issue.
The APM figures show that more than half of the 62 suburbs recorded price declines over the year to January compared with expectations that suburbs on the list should demonstrate capital growth over a 12 month period and beyond as part of a long-term investment play.
Notable unit failures were the WA tourism-focused town of Broome (unit prices down 22.8%) and mining-influenced Newcastle (-16.4%), Mackay (-15.9%) and Gladstone (-11.1%).
Worst of the bunch was Norwood, a suburb just 3 kilometres from the Adelaide CBD, where the median unit price fell 28% from $461,000 as of December 2011 to $328,000 as of January 2013.
Reasons for Norwood’s inclusion in 2012 include its seemingly good local council which “supports community sentiment and maintains standards”, its close proximity to the CBD and bus connections (though no train) and the appeal of its main street as a “popular shopping, dining and entertainment precinct”.
However, Norwood has been axed from the 2013 Hot 100 list, which features just three South Australian suburbs on its list and has totally excluded the inner suburbs of Adelaide.
South Australian suburbs on the 2013 list are Hackam West on the south eastern outskirts of Adelaide, the rural Riverland regional town of Renmark and mining town of Whyalla, despite the shelving of the Olympic Dam expansion project.
The second-worst performer was Broome in the Kimberley region, where median have fallen 22.8% over the comparison period.
Located 1,680 kilometres north of Perth and famous for its pearling, fishing and tourism industry, Broome made it onto last year’s list because of its proactive local council, good flight connections and a good mix of services and amenities including two major shopping centres, a university and a TAFE.
However, despite all of this, the median Broome unit price fell from $453,000 to $350,000 over the 12 months to January 2013.
Broome is not included on the 2013 Hot 100 list.
At the other end of the spectrum, Belmont, 7 kilometres north east of Perth, was the standout unit performer from the 2012 Hot 100 managing a 32% rise in its median unit price as was the South Australian mining town of Roxby Downs (up 29.6%) and Mandurah (17%), listed as a "lifestyle" location by API Magazine, 65 kilometres south of Perth.
The high number of suburbs where unit prices went backwards rather than forwards, as anticipated by API Magazine, highlights the challenges faced in picking hotspots and the importance of doing your own research.
In its guide to this year’s list API Magazine tells readers they should not buy a property in a location “just because it’s in the Hot 100”
“This list isn’t your due diligence. You must do your own detailed homework into any area you’re going to invest in, as well as the property type,” says API.
<table style="width: 446px;" frame="box" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="122">
<col width="324">
</colgroup>
<tbody>
<tr height="21">
<td height="21">Suburb</td>
<td>12 month change in median unit prices to Jan 2013 (units)</td>
</tr>
<tr height="21">
<td height="21" width="122">Norwood, SA</td>
<td width="324">-28.00%</td>
</tr>
<tr height="21">
<td height="21" width="122">Broome, WA</td>
<td width="324">-22.80%</td>
</tr>
<tr height="21">
<td height="21" width="122">Carindale, QLD</td>
<td width="324">-21.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Werribee, VIC</td>
<td width="324">-17.30%</td>
</tr>
<tr height="21">
<td height="21" width="122">Dunsborough,WA</td>
<td width="324">-16.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Newcastle, NSW</td>
<td width="324">-16.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Mackay, QLD</td>
<td width="324">-15.90%</td>
</tr>
<tr height="21">
<td height="21" width="122">Chermside, QLD</td>
<td width="324">-15.70%</td>
</tr>
<tr height="41">
<td height="41" width="122">Broadmeadows, VIC</td>
<td width="324">-15.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Parap, NT</td>
<td width="324">-12.20%</td>
</tr>
<tr height="21">
<td height="21" width="122">Gladstone, QLD</td>
<td width="324">-11.10%</td>
</tr>
<tr height="21">
<td height="21" width="122">Southport, QLD</td>
<td width="324">-11.10%</td>
</tr>
<tr height="21">
<td height="21" width="122">Ringwood, VIC</td>
<td width="324">-10.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Nundah, QLD</td>
<td width="324">-10.30%</td>
</tr>
<tr height="41">
<td height="41" width="122">Indooroopilly, QLD</td>
<td width="324">-10.00%</td>
</tr>
<tr height="21">
<td height="21" width="122">Port Lincoln, SA</td>
<td width="324">-9.70%</td>
</tr>
<tr height="21">
<td height="21" width="122">Frankston, VIC</td>
<td width="324">-9.00%</td>
</tr>
<tr height="20">
<td height="20" width="122">Bunbury, WA</td>
<td width="324">-7.20%</td>
</tr>
<tr height="21">
<td height="21" width="122">Coburg, VIC</td>
<td width="324">-6.20%</td>
</tr>
<tr height="21">
<td height="21" width="122">Townsville, QLD</td>
<td width="324">-5.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Dandenong, VIC</td>
<td width="324">-5%</td>
</tr>
<tr height="21">
<td height="21" width="122">Erskineville, NSW</td>
<td width="324">-4.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Ascot Vale, VIC</td>
<td width="324">-4.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Thornbury, VIC</td>
<td width="324">-3.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Enmore, NSW</td>
<td width="324">-3.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Mentone, VIC</td>
<td width="324">-2.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Granville, NSW</td>
<td width="324">-2.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Como, WA</td>
<td width="324">-2.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Northcote, VIC</td>
<td width="324">-1.90%</td>
</tr>
<tr height="41">
<td height="41" width="122">South Brisbane, QLD</td>
<td width="324">-1.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Armadale, WA</td>
<td width="324">-1.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Coorparoo, QLD</td>
<td width="324">-1.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Fremantle, WA</td>
<td width="324">-1.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Kellyville, NSW</td>
<td width="324">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="122">Orange, NSW</td>
<td width="324">0.00%</td>
</tr>
<tr height="41">
<td height="41" width="122">West Footscray, VIC</td>
<td width="324">0.00%</td>
</tr>
<tr height="21">
<td height="21" width="122">Midland, WA</td>
<td width="324">0.30%</td>
</tr>
<tr height="21">
<td height="21" width="122">Sherwood, QLD</td>
<td width="324">1.00%</td>
</tr>
<tr height="21">
<td height="21" width="122">Joondalup, WA</td>
<td width="324">1.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Turner, ACT</td>
<td width="324">1.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Carlton North, VIC</td>
<td width="324">1.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Stafford, QLD</td>
<td width="324">1.70%</td>
</tr>
<tr height="21">
<td height="21" width="122">Blacktown, NSW</td>
<td width="324">2.40%</td>
</tr>
<tr height="21">
<td height="21" width="122">Dickson, ACT</td>
<td width="324">2.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Box Hill, VIC</td>
<td width="324">2.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Maroubra, NSW</td>
<td width="324">2.70%</td>
</tr>
<tr height="21">
<td height="21" width="122">Highgate, WA</td>
<td width="324">3.80%</td>
</tr>
<tr height="41">
<td height="41" width="122">Osbourne Park, WA</td>
<td width="324">4.10%</td>
</tr>
<tr height="21">
<td height="21" width="122">Sunshine, VIC</td>
<td width="324">4.10%</td>
</tr>
<tr height="21">
<td height="21" width="122">Summer Hill, NSW</td>
<td width="324">5.20%</td>
</tr>
<tr height="21">
<td height="21" width="122">Perth CBD, WA</td>
<td width="324">5.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Magill, SA</td>
<td width="324">5.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Neutral Bay, NSW</td>
<td width="324">6.30%</td>
</tr>
<tr height="41">
<td height="41" width="122">Camperdown, NSW</td>
<td width="324">6.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Marrickville, NSW</td>
<td width="324">7.00%</td>
</tr>
<tr height="21">
<td height="21" width="122">Willetton, WA</td>
<td width="324">8.90%</td>
</tr>
<tr height="21">
<td height="21" width="122">Footscray, VIC</td>
<td width="324">11.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Warrnambool, VIC</td>
<td width="324">12.50%</td>
</tr>
<tr height="21">
<td height="21" width="122">Hamilton Hill, WA</td>
<td width="324">14.80%</td>
</tr>
<tr height="21">
<td height="21" width="122">Mandurah, WA</td>
<td width="324">17.00%</td>
</tr>
<tr height="21">
<td height="21" width="122">Roxby Downs, SA</td>
<td width="324">29.60%</td>
</tr>
<tr height="21">
<td height="21" width="122">Belmont, WA</td>
<td width="324">32%</td>
</tr>
</tbody>
</table>
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lschlesinger-FZcF9M3vE6

Unit hotspots less hit and more miss: Broome, Newcastle and Gladstone among markets that flopped in 2012

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The Reserve Bank is certainly going to town on its housing market speeches at the moment, <a href="https://petewargent.blogspot.com/2013/03/dovish-rba-unconcerned-about-risk" target="_blank">as I previously noted here</a>. This week, the head of Financial Stability, Luci Ellis, gave a speech in Sydney, they key themes of which I summarise below.
Make no mistake, when the RBA prepares charts it does so with an underlying message in mind. Let's see what we can decipher.
Firstly, Australia is no longer the high-inflation country that it was in the 1970s and 1980s, but note how house prices did continue to rise even as inflation slowed.
<img alt="Graph 1: Consumer Prices and Housing Prices" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph1-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Why? Because inflation acts as a 'credit constraint'. In other words, interest rates include an inflation compensation component. So, as inflation fell, so did the inflation compensation component of mortgage rates.
Therefore, estimates the RBA, due to lower inflation, we might expect the borrowing ratio roughly to have doubled as measured against income multiples.
<img alt="Graph 2: Maximum Loan-to-income Ratio" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph2-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Says the RBA, they would have expected household debt to rise. And it has. However, the transition period ended way back in 2005. Since then, the debt-income ratio flattened, in their own words, "to a new, higher average"...
<img alt="Graph 3: Household Finances" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph3-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
And, in recent years, households have begun to save again.
<img alt="Graph 4: Household Saving Activity" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph4-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Expect on average national future dwelling price growth and credit growth to be slower in the future, says the RBA.
 
<hr class="system-pagebreak">
The population continues to boom, by around 380,000 persons per annum at the current rate of expansion, and the number of persons per dwelling has fallen dramatically over the decades. Therefore we need tens of thousands of new dwellings each year to house the rapidly growing population.
<img alt="Graph 5: Dwelling and Population Growth" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph5-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
The urban population of Australia is massively focussed on the two largest cities, with nearly 40% of us living in those two metropolises. We have a lot of land, but most people only want to live in a very small part of it: the "acceptable range of locations is limited."
<img alt="Graph 6: Urban Population" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph6-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Why the problems with constraints on supply? Largely, because individually we use so darned much of the desirable land. We live on enormous plots and have the least dense population of any country with cities of a comparable size. Only NZ is anywhere remotely close to Australia in this regard.
<img alt="Graph 7: Urban Population Density" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph7-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Land cost isn't the real problem, says the RBA, and it isn't government charges either, which make up a small component of property prices.
It's overwhelmingly the construction costs of our shiny new dwellings that makes new property an increasingly expensive proposition.
<img alt="Graph 8: Construction Costs" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph8-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Key quote: 
 "...the price of our low-density life has become unaffordable for some. 
 It therefore seems likely that our cities will become denser over time.
 If so, the mix of residential construction will be tilted more towards medium-density and high-density dwellings than in past decades."
 
<hr class="system-pagebreak">
 <img alt="Graph 9: Apartment and Medium-density Housing" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph9-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Prices are rising in some cities, notably Sydney and Perth. Flat for many years now in others such as Brisbane and Adelaide, and also very little house price growth in regional Australia.
<img alt="Graph 10: Dwelling Prices" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph10-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
I noted that the RBA prepares charts with a message behind them. We have seen the below chart before, intended to demonstrate that with lower interest rates, repayments on new housing loans aren't nearly as high as a percentage of household disposable income as the popular consensus would have you believe.
<img alt="Graph 11: Repayments on New Housing Loans" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph11-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Note how the RBA has added a second (blue) line now. The message being delivered here: not only are repayments now more affordable on new housing loans they are also considerably cheaper on existing housing loans.
The underlying point, with interest rates set to fall even further, appears to be: "Stop complaining about property prices, because your repayments are lower."
 
<hr class="system-pagebreak">
As noted above, we'll have more higher-density dwellings in the future, and fewer detached houses:
<img alt="Graph 12: Private Residential Building Approvals" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph12-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
But, the RBA highlights that it takes longer to build a block of apartments than it does houses in fringe suburbs.
The undersupply is set to become a major problem in some urban areas: "It might well be that construction lags – and concerns about supply – will become even more acute."
 It's a worrying trend of appropriate supply failing to meet demand, certainly in my part of the world (Sydney).
 Rental yields have been rising. Bond yields have been smoked.
<img alt="Graph 14: Rental and Indexed Bond Yields" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph14-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Lending standards have become much tougher - fewer low-doc loans, for example. This is good for market stability.
<img alt="Graph 15: Banks' Housing Loan Characteristics" src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph15-small.gif" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px;" width="470">
Summary: on average price growth and credit growth will be slower than we have seen in the past, but I am expecting the construction lag to cause a major undersupply of desirable dwellings in inner- and middle-ring Sydney suburbs and some other supply-constrained regions.
A further cut in interest rates on June 4 or perhaps a little later in 2013 may see median dwelling prices markedly higher by 2014 and payments on new housing loans revert upwards.
Pete Wargent holds a range of finance and property qualifications and is the author of <a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial fr</a><a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">eedom.</a>
 
 
 
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pwargent-M4siyDbqQY

Deciphering the RBA mindset as it paves the way for steadier dwelling price growth in 2013: Pete Wargent

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Melbourne has the greatest number of suburbs across Australia offering the potential for property investors to double their money in 10 years if house prices in these suburbs continue to appreciate at current rates.
However, across the country, there are more regional locations offering the probability of investors doubling their money in a decade than in city suburbs, according to the Autumn Investors report from RP Data.
In total, RP Data has <a href="https://www.myrp.com.au/investorsguide" target="_blank">identified 263 suburbs</a> across Australia that have recorded average annual value growth of more than 7.2% over the past five years.
According to RP Data, a compounding growth rate of 7.2% over a 10 year period will result in a doubling of the price of an asset.
Based on this calculation, Victoria has had the greatest number of suburbs on the list with 68, of which 38 of these are suburbs in Melbourne.
Melbourne is followed by Sydney with 26 suburbs, Perth with 19 suburbs and Adelaide with 14 suburbs.
Melbourne suburbs that have recorded annual value growth of more than 7.2% over the past five years include Heidelberg West apartments (7.8%), Cairnlea houses (8.2%), Derrimut houses (14.8%) and Clyde houses (12.4%)
Sydney suburbs include Eastern Creek houses (7.4%), Hillsdale apartments (7.9%), Campbelltown apartments (8.3%) and Belmore units (8.5%)
While Melbourne, Sydney, Perth and Adelaide make up the top four regions, the rest of the top 10 comprises regional suburbs, with many having links to the mining boom such as the Hunter region of NSW, the Pilbara region of WA and Mackay and Fitzroy in Queensland.
This re-affirms the point made by hotspotting.com.au’s Terry Ryder on Property Observer that <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/key-regional-centres-will-again-be-property-growth-stars-in-2013-as-mining-boom-far-from-over-terry-ryder/2013010758638">regional locations are where investors should be looking</a>, particurlarly if they are seeking more affordable investment options.
The report found that he majority of suburbs that have recorded annual average value growth of 7.2% or greater are situated in regional areas of the country (55.7%) rather than capital cities (44.3%).
Across most states this same trend has been replicated with only Melbourne (55.9%), Adelaide (77.8%), Darwin (90.9%) and Canberra (100%) recording a greater proportion of suburbs listed within the capital city.
Nearly two-thirds (65%) all the suburbs which made the list made it for houses as opposed to 35% for units, but with RP Data noting that a much greater proportion of the overall housing market nationally is houses as opposed to units which is partially influencing these figures.
The ten regions with the greatest number of suburbs recording high levels of value growth accounted for 57.5% of the total suburbs across Australia.
<img src="/images/stories/2013/04/rpdatatoptenregionsapril23one.gif" width="470" height="396" alt="rpdatatoptenregionsapril23one">
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Melbourne leads regions where property investors can double their money in a decade: RP Data

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A two-bedroom Brunswick West apartment was last weekend’s most affordable sale in Victoria, selling for $300,000 according to Australian Property Monitors.  
Located at <a href="https://www.barryplant.com.au/brunswick/index.cfm?pageCall=property&amp;propertyID=2328525&amp;rssLink=true&amp;addBkmkPropertyID=2328525" target="_blank">3/608 Moreland Road</a>, the apartment (pictured below) sold at auction on April 20 through Barry Plant Brunswick.
<img src="/images/stories/2013/04/brunswickwestapril23one.jpg" width="470" height="295" alt="brunswickwestapril23one">
Jim Dandris of Barry Plant Brunswick told Property Observer that the unit was previously on the market at $292,000.  
There were about twenty people present at the auction, with two registered bidders, according to Dandris.  
Dandris said the successful bidder was an owner-occupier, who was likely to be a first-time homebuyer.
Based on Barry Plant’s estimated $275 rent a week, the price reflected a likely rental yield of 4.77%, slightly higher than the average rental yield in Brunswick West which currently stands at 4.1%.  
Dandris also told Property Observer the market in Brunswick West is “very good at the moment”, with first-time homebuyers and investors interested in the area.
According to the <a href="/news">latest report by RP Data</a>, the median sale price for units in Brunswick West is $387,500, up by 3.3% on last year. The average discount required to sell a unit in Brunswick West is 5.8%, while private treaty sales average 46 days on market.  
Other two-bedroom apartments for sale in Brunswick West include: 6/22 Whitby Street, <a href="https://www.realestate.com.au/property-unit-vic-brunswick+west-112961891" target="_blank">listed for $369,000</a>, and 12/380 Brunswick Road, <a href="https://www.realestate.com.au/property-apartment-vic-brunswick+west-112681687" target="_blank">listed for $345,000</a>, both by Nelson Alexander Real Estate Brunswick.    
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Brunswick West apartment claims last weekend's most affordable Victorian sale

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Sometimes the truth hurts and the message in the latest CEO Pulse sent a very clear message to the Gillard government.
<a title="CEO Pulse: CEOs feel better now" href="https://www.businessspectator.com.au/article/2013/4/16/economy/ceo-pulse-ceos-feel-better-now" target="_blank" style="padding: 0px; margin: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #003d7d; text-decoration: none;">CEO Pulse: CEOs feel better now</a> which just so happens to be the most positive for two years – that’s because we are closing in on an election and a change of government.
“CEOs are fed up with Treasurer Wayne Swan and the government, but that’s no surprise, and they think Treasury usually gets its forecasts wrong, which it does, but nevertheless Australia’s bosses are feeling better about their own businesses and the economy than they have since this time in 2011.”
“60% expect to increase sales over the next twelve months, up from 52% three months ago, and 53% expect to increase profit, up from 48%. In the second half of last year, most CEOs thought their profit would fall in 2013, which was a remarkable statistic.”
“Two thirds of CEOs say they aren’t delaying any capital expenditure decisions until after either the federal budget or the election in September (18% said they were waiting ‘til after the election), but unsurprisingly, the overwhelming majority (86%) said a Coalition victory would be the best for the country and for their business.”
The declines across Australia continue for first-home buyers with loan approvals falling 1.5% in February making up just 14.4% of the overall market. I have never been a supporter of artificially inseminating property markets by throwing around free money. It should be noted that when vacancy rates are at all-time lows this further complicates the issue given property rents are climbing much higher than property values. <a title="Rental growth to keep pace with house price growth over the next two years led by WA: NAB survey" href="https://www.propertyobserver.com.au/landlords/rental-growth-to-keep-pace-with-house-price-growth-over-next-two-years-led-by-wa-nab-survey/2013041460347" target="_blank">Rental growth to keep pace with house price growth over the next two years led by WA: NAB survey</a> – Rents are forecast to rise 3.6% over the next two years.
<p style="padding: 0px 0px 24px; margin: 0px; border: 0px; outline-width: 0px; font-family: Georgia, Palatino, 'Palatino Linotype', Times, 'Times New Roman', serif; vertical-align: baseline; color: #707070; line-height: 24px; font-size: 15px !important;"><img alt="simeonapril23onethumb" height="324" width="470" src="/images/stories/2013/04/simeonapril23onethumb.gif">
NSW is a major casualty after 15 years of an ineffective and hopeless government where today <a title="QLD and WA attracting New South Welshmen in droves: RP Data." href="/news" target="_blank">QLD and WA attracting New South Welshmen in droves: RP Data.</a> On a state-by-state basis population growth has been the strongest in absolute terms within Victoria (94,837), Queensland (91,389), New South Wales (86,033) and Western Australia (81,694). It is interesting to note that New South Wales and Western Australia both have the highest rentals. These four states account for 92.5% of total population growth over the 12 months to September 2012.
As a result 18,448 more residents have left New South Wales than arrived over the year. This should and must be a major concern for the NSW government given history clearly shows that when a family moves seldom do they return – given the decision is all about lifestyle.
<p style="padding: 0px 0px 24px; margin: 0px; border: 0px; outline-width: 0px; font-family: Georgia, Palatino, 'Palatino Linotype', Times, 'Times New Roman', serif; vertical-align: baseline; color: #707070; line-height: 24px; font-size: 15px !important;"><img alt="simeonapril23twothumb" height="319" width="470" src="/images/stories/2013/04/simeonapril23twothumb.gif">
We are one month away from the federal government delivering its final budget deficit. Massive problems with the collapse of the price of carbon in Europe which sits at around $3.35 a tonne and Australia’s price is fixed at $23.00 per tonne until 2015. Opposition treasurer commented, “If the European price today is to be applied to the budget there would be a budget hole of at least $7 billion in just one year.”
Last week we learnt the “World’s Greatest Treasurer” Wayne Swan is now refusing to pay the $725 million collected as flood recovery monies even though it appeared in the forward estimates. This is the money that the Gillard government imposed (otherwise known as a levy) on Australian taxpayers. This highlights how bad the Gillard government’s finances are despite constant reassurances – remember the 2012/13 budget was a non-negotiable return to surplus!
Out of interest from 2002 – 2007 the Howard government spent $978 billion from revenues of $1.067 trillion – from 2007 – 2012 the Gillard government spent $1.729 trillion from $1.543 trillion in receipts.
The upcoming Fudge – it will fascinating.
Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" target="_blank" rel="nofollow">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank" rel="nofollow">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally. 
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robertsimeon-hRNTwJyXkQ

Upcoming election boosts CEO confidence as FHBs continue to struggle: Robert Simeon

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A former chief executive of Tourism Australia, John Morse, secured $1.2 million for his Annandale warehouse abode following its recent auction marketing campaign through Bresic Whitney agent Dominic Kuneman.
Set on a 241-square-metre Nelson Street block, <a href="https://www.bresicwhitney.com.au/real-estate/id/property/10592/annandale/15-nelson-street/?searchsubtype=address&amp;searchType=sale" target="_blank">the converted warehouse</a> had been tipped to fetch more than $1.1 million.
Morse paid $981,000 in 2009 and then re-roofed the warehouse living space. The interiors of the warehouse were also updated.
Morse now works in the Aboriginal arts industry being awarded an Order of Australia in 2003 for services to tourism and the development of indigenous tourism, he manages the Indigenous Tourism Masterplan in Arnhem Land.
The property previously traded at $850,000 in 2005 and $352,000 in 1997.
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jchancellor-FAypfDUnLy

Former Tourism Australia chief John Morse sells Annandale warehouse

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Australand’s residential division had an “encouraging” start to 2013 with “solid sales activity” recorded over the first three months of the year, managing director Bob Johnston told shareholders at yesterday’s annual general meeting.
Johnston said Australand has built on its “strong contracts on hand position at the start of the year” to average around 190 sales per month for the January quarter.
“This is an encouraging start to the year and puts us in a good position to achieve our full year targets,” he said.
Australand has one of the biggest residential lot portfolios in the country with 20,400 lots under management with an estimated end value of $8 billion.
Johnston highlighted that “importantly” most of its residential projects (master planned communities and inner city apartment developments) are zoned and weighted to the biggest housing markets of Sydney and Melbourne.
“We see our ability to create and deliver new product at our below the median price in each of our markets as a key competitive advantage.
“This is particularly important as homebuyers are confronted with a lack of new, affordable housing options,” he said.
Johnston added that the residential sector continued to be a “deep and undersupplied market” noting that affordability had improved “significantly” with the fall in mortgage rates.
Projects selling well in 2013, Johnston said, were its medium density “Local” project in Carlton, in inner Melbourne which will deliver 675 apartments when completed and its <a href="https://residential.australand.com.au/land/nsw/sutherland-shire/greenhills-beach#forsale" target="_blank">Greenhills Beach master planned development</a> (pictured below) in Cronulla, in Sutherland Shire, Sydney.
<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/2013/04/greenhillsapril23one.jpg" alt="greenhillsapril23one" width="470" height="279">
Local delivered 97 sales over 2012 at an average price point of $500,000 with a further 89 sales recorded at year end.
<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/2013/04/greenhillsapril23two.jpg" alt="greenhillsapril23two" width="470" height="301">
Greenhills Beach managed 136 lots sales in 2012 at an average price of $830,000 and “has continued to deliver solid sales in the first quarter of 2013”.
Other projects continuing to sell well include Hamilton Reach on the Brisbane River and Cockburn Central, 20 kilometres south of the Perth CBD.
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Greenhills Beach helps Australand report “solid” residential sales activity in 2013 first quarter

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Investors who purchased a house in the east Melbourne suburb of Box Hill based on its inclusion in last year’s Hot 100 list published by Australian Property Investor (API) magazine are unlikely to be a happy bunch.
As API published its flagship 2013 Hot 100 list this month, Property Observer analysed the performance of all 100 suburbs that made it on to last year’s list.
We found that Box Hill was the poorest performing detached housing market on last year’s list, which included suburbs that were expected to show growth over the following 12 months and beyond.
But rather than rise as expected, Box Hill's median house price has fallen 19% between publication of the 2012 and 2013 Hot 100 reports. And it fails to make a re-appearance on the latest list of hotspots.
Of the 90 hot spot suburbs from 2012 where comparison were possible, 25 locations recorded declined of 1% or more over the year, 19 locations treaded water, 34 recorded gains of between 1% and 10% in their median house prices and 12 managed gains of more than 10%. 
According to Australian Property Monitors (APM) data published by API Magazine, Box Hill recorded a median house price of $545,000 based on sales of 111 houses over the 12 months to January 2013.
This compares with a median price of $748,000 recorded from 101 sales for the 12 months to December 2011.
Box Hill was picked last year because of its good local council,  good location – just 13 kilometres east of the Melbourne CBD – and because of its status as one of Melbourne’s biggest transport interchanges “expected to accommodate a significant increase in housing around the core retail district”.
The suburb is the site of the $447 million Box Hill hospital redevelopment while the Cromwell Property Group recently raised $66 million from investors for a new 20-storey ATO building.
While investing in property is clearly a long-term play – a point highlighted by API Magazine - and Box Hill prices may yet rise as these major projects are completed, investors who bought in the suburb will be dismayed to learn that Box Hill is not among the 29 suburbs that have scored consecutive mentions in both 2012 and 2013 Hot 100 lists prepared by API Magazine.
Three other Melbourne suburbs, picked as hotspots last year by API, recorded near 10% annual declines in median values, with Broadmeadows house prices falling 10%, Sunshine prices down 9.4% and Northcote prices down 8.1%.
At the other end of the spectrum, the inner Perth suburb of Highgate, just 1.7 kilometres from the CBD, has been a hotspot standout, with house median prices up 43% over the same period.
For the 12 months to January 31 2013, APM records a Highgate median house price of $609,000 from 40 sales compared with a median house price of $497,000 for the 12 months to December 2011.
Highgate was included on the Hot 100 list based on good local council involvement in creating “mixed-use hubs” in surrounding areas, great accessibility to the city centre via road and train and good amenities and services in neighbouring suburbs like Mount Lawley and East Perth.
In addition, and as indicated by the small number of sales recorded, Highgate is a tightly-held suburb with “aesthetic appeal”
Surprisingly and despite the strong showing, Highgate is not listed as a hot spot in this year’s list, though a number of other eastern Perth suburbs are, including Dianella (6 kilometres north east of Perth), Carlisle ( 6 kilometres south east of Perth), Bayswater (6.6 kilometres north east of Perth) and Belmont (6.5 kilometres east of Perth.)
WA locations dominated the best performing locations from the 2012 list with Highgate followed by the Pilbara mining hotspots of Karratha (up 36.4%), Newman (up 25.5%) and Onslow (22.6%).
Just 29 suburbs have made it onto the hotlist for the second year in a row demonstrating the fleeting nature of so-called “hotspots”
The report highlights the challenges in picking property investment hotspots and the importance of doing your own research.
Indeed, API Magazine, in its guide to this year’s list says readers should not buy a property in a location “just because it’s in the Hot 100”.
However, it does say that suburbs have been picked for their “growth prospects over the next 12 months as well as the longer term”.
“This list isn’t your due diligence. You must do your own detailed homework into any area you’re going to invest in, as well as the property type,” says API.
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<colgroup>
<col width="141">
<col width="168">
</colgroup>
<tbody>
<tr height="21">
<td height="21" width="141">Suburb</td>
<td width="168">Houses (12 month change)</td>
</tr>
<tr height="21">
<td height="21" width="141">Box Hill, VIC</td>
<td width="168">-19%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Adelaide, SA</td>
<td width="168">-14.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Broadmeadows, VIC</td>
<td width="168">-10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Sunshine, VIC</td>
<td width="168">-9.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Townsville, QLD</td>
<td width="168">-8.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Northcote, VIC</td>
<td width="168">-8.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">South Brisbane, QLD</td>
<td width="168">-8.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ascot Vale, VIC</td>
<td width="168">-7.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mandurah, WA</td>
<td width="168">-6.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Oakey, QLD</td>
<td width="168">-6.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Carindale, QLD</td>
<td width="168">-6.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Frankston, VIC</td>
<td width="168">-5.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Smithton, TAS</td>
<td width="168">-5.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dickson, ACT</td>
<td width="168">-4.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Keperra, QLD</td>
<td width="168">-4.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Magill, SA</td>
<td width="168">-3.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Warrane, TAS</td>
<td width="168">-3.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Eden Hill, WA</td>
<td width="168">-3.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Werribee, VIC</td>
<td width="168">-3.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Stafford, QLD</td>
<td width="168">-2.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dandenong, VIC</td>
<td width="168">-2.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Warrnambool, VIC</td>
<td width="168">-1.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Coorparoo, QLD</td>
<td width="168">-1.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ningi, QLD</td>
<td width="168">-1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Woodville West, SA</td>
<td width="168">-1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Maitland, NSW</td>
<td width="168">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Southport, QLD</td>
<td width="168">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ceduna, SA</td>
<td width="168">-0.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Indooroopilly, QLD</td>
<td width="168">-0.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Camperdown, NSW</td>
<td width="168">-0.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Sherwood, QLD</td>
<td width="168">-0.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Armadale, WA</td>
<td width="168">-0.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Coburg, VIC</td>
<td width="168">-0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Moorooka, QLD</td>
<td width="168">0%</td>
</tr>
<tr height="21">
<td height="21" width="141">Parap, NT</td>
<td width="168">0%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Lincoln, SA</td>
<td width="168">0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Turner, ACT</td>
<td width="168">0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ballarat, VIC</td>
<td width="168">0.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mentone, VIC</td>
<td width="168">0.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Bunbury, WA</td>
<td width="168">0.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">West Footscray, VIC</td>
<td width="168">0.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Fremantle, WA</td>
<td width="168">0.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Granville, NSW</td>
<td width="168">0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ringwood, VIC</td>
<td width="168">0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Footscray, VIC</td>
<td width="168">1.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Chermside, QLD</td>
<td width="168">1.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Como, WA</td>
<td width="168">1.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Marrickville, NSW</td>
<td width="168">1.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Westminster, WA</td>
<td width="168">1.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Yeerongpilly, QLD</td>
<td width="168">1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Toowoomba, QLD</td>
<td width="168">2.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Edgewater, WA</td>
<td width="168">2.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Thornbury, VIC</td>
<td width="168">2.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Enmore, NSW</td>
<td width="168">2.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Erskineville, NSW</td>
<td width="168">2.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Blacktown, NSW</td>
<td width="168">2.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Perth CBD, WA</td>
<td width="168">3.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Orange, NSW</td>
<td width="168">3.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Heathridge, WA</td>
<td width="168">3.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Maroubra, NSW</td>
<td width="168">3.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Murarrie, QLD</td>
<td width="168">3.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Kellyville, NSW</td>
<td width="168">4.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Underwood, QLD</td>
<td width="168">4.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Hackham, SA</td>
<td width="168">4.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Joondalup, WA</td>
<td width="168">4.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Willetton, WA</td>
<td width="168">5.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Osbourne Park, WA</td>
<td width="168">5.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dunsborough,WA</td>
<td width="168">5.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Hamilton Hill, WA</td>
<td width="168">5.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Yangebup, WA</td>
<td width="168">5.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Cloverdale, WA</td>
<td width="168">6.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Belmont, WA</td>
<td width="168">7.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Midland, WA</td>
<td width="168">7.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Roxby Downs, SA</td>
<td width="168">8.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Bendigo, VIC</td>
<td width="168">8.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Whyalla, SA</td>
<td width="168">8.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mackay, QLD</td>
<td width="168">9.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Carlton North, VIC</td>
<td width="168">9.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Summer Hill, NSW</td>
<td width="168">10.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Neutral Bay, NSW</td>
<td width="168">12.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Hedland, WA</td>
<td width="168">13.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Roma, QLD</td>
<td width="168">14.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Moranbah, QLD</td>
<td width="168">14.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Norwood, SA</td>
<td width="168">14.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Nundah, QLD</td>
<td width="168">16.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Broome, WA</td>
<td width="168">16.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Onslow, WA</td>
<td width="168">22.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Newman, WA</td>
<td width="168">25.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Karratha, WA</td>
<td width="168">36.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Highgate, WA</td>
<td width="168">43.00%</td>
</tr>
<tr height="20">
<td height="20" width="141">Source: API Magazine</td>
<td></td>
</tr>
</tbody>
</table>
</body></html>

Hit and miss hotspots: Box Hill flames out while Highgate, Karratha, Newman and other WA mining locations are on fire

<html><body>
I started the year predicting capital city market performance would be led in 2013 by Perth and Darwin, with Sydney close behind.  
Early indications suggest that’s the way it’s panning out. Darwin started the year already well into a growth phase and Perth has quickly taken on boom parameters as 2013 has progressed.  
Sydney, the under-achiever among the capital cities over the past decade, is busily making up some of the lost ground. Each week the anecdotal reports of rising activity and prices in Sydney grow stronger, supported by research evidence as the data trickles in.
Australian Property Monitors reports strong price growth in many of the million-dollar suburbs, while experienced buyers agent Henry Wilkinson sees a sellers market, with price expectations heading north rapidly.  
Wilkinson, of Homesearch Solutions, says prices in some Sydney suburbs have risen 5-10% in the first few months of 2013.  
Wilkinson says price movements are so rapid, in some cases, that buyers need to examine very recent sales in an area before deciding their offer amounts, rather than looking at sales from the past six months in property databases.  
“The property statistics are often months behind in their announcements on price movements,” he says.  
“The advice we are currently giving to our clients is to buy now rather than wait until later in the year. Delaying a purchase may mean having to compromise - fewer bedrooms, no parking, less renovated or a less desirable suburb.”  
Wilkinson says auction clearance rates have been consistently above 70% since February, which is the strongest trend since 2010.  
“Competition has been intense at most of the auctions we have attended,” he says. “Some auctions have had 15 or more active bidders and indications are that bidders and the eventual buyers have been exceeding their pre-set limits.”  
Wilkinson says the market under $700,000 and the market up to $1,600,000 have been the strongest performers, particularly in the inner and medium radius suburbs. “We have also noticed some movement in the upper market after years of stagnation,” he says.  
APM says some suburbs had median house price growth above 20% in the March Quarter, including <a target="_blank" href="/news">Avalon</a> and <a target="_blank" href="/news">Mosman</a>. Other fast movers included <a target="_blank" href="/news">Maroubra</a>, <a target="_blank" href="/news">Randwick</a> and <a target="_blank" href="/news">Pymble</a>.  
There was also increasing heat in some unit markets, headed by <a target="_blank" href="/news">Neutral Bay</a>, <a target="_blank" href="/news">Chatswood</a>, Mosman and <a target="_blank" href="/news">Manly</a>.  
APM senior economist Andrew Wilson says there is “a perception of value” in the $1 million to $2 million price range, with buyers increasingly active in search of opportunities.  
Agents operating in those market report the best activity they have had in several years.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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