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 Lavender Bay property topped the RP Data top 10 sales of the week.
<a href="https://www.propertyobserver.com.au/international/local-chinese-buyer-snaps-up-sydney-s-highest-weekend-auction-offering/2013031759763?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">The four-bedroom unit was sold after auction by McGrath Estate Agents for $5.6 million</a>.
The week's most expensive sales:
2/9 Waiwera Street, Lavender Bay, NSW, 2060, four-bedroom unit, sold at auction on March 16 by McGrath Estate Agents for $5.6 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24_bay_street_brighton_vic_3186/10003950">24 Bay Street, Brighton</a>, VIC, 3186, five-bedroom house, sold at auction on March 16 by Buxton Real Estate Brighton for $4.85 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/61_union_street_mcmahons_point_nsw_2060/4169730">61 Union Street, McMahons Point</a>, NSW, 2060, four-bedroom house, sold on March 15 by Belle Property Neutral Bay Neutral Bay for $3.485 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/13_john_dykes_avenue_vaucluse_nsw_2030/7141422">13 John Dykes Avenue, Vaucluse</a>, NSW, 2030, four-bedroom house, sold at auction on March 16 by Laing + Simmons Double Bay for $3.35 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11a_huntingfield_road_brighton_vic_3186/15691966">11A Huntingfield Road, Brighton</a>, VIC, 3186, four-bedroom house, sold on March 15 by Biggin &amp; Scott Brighton for $3.27 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/14_gladstone_avenue_mosman_nsw_2088/4484397">14 Gladstone Avenue, Mosman</a>, NSW, 2088, four-bedroom house, sold at auction on March 14 by L J Hooker Mosman for $2.95 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_boorroo_street_kangaroo_point_nsw_2224/3186557">3 Boorroo Street, Kangaroo Point</a>, NSW, 2224, two-bedroom house, sold at auction on March 16 by McGrath Estate Agents for $2.63 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11_wellesley_road_hawthorn_vic_3122/11196389">11 Wellesley Road, Hawthorn</a>, VIC, 3122, four-bedroom house, sold at auction on March 16 by Marshall White Real Estate Armadale for $2.45 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/50a_champion_road_tennyson_point_nsw_2111/6755087">50A Champion Road, Tennyson Point</a>, NSW, 2111, four-bedroom house, sold at auction on March 16 by McGrath Estate Agents for $2.395 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/48_sackville_street_maroubra_nsw_2035/4050256">48 Sackville Street, Maroubra</a>, NSW, 2035, four-bedroom house, sold at auction on March 16 by Century 21 Coastline Properties for $2.36 million
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Lavender Bay and McMahons Point dominate the week's top sales podium: RP Data

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In times past many savvy investors would buy apartments off-the-plan, leaving only a deposit of 10%, and sell them on before settlement to make a tidy profit.
It made many people rich. When the GFC hit these leveraged investments also made many people broke. Some speculators are tied up in court with developers chasing their money on units that have dropped in value to much less than the investor agreed to pay. This investment strategy is only for those who are willing to take big risks with a deep understanding of residential investment.
“You don’t see this sort of speculation now, and as a result it is a much more stable and realistic market,” says Rees.
Leveraging is simply using other people’s money, either as a mortgage from a lender or sometimes from the developer, to increase the potential gain from a property investment over a fixed period of time.
What separates leveraged investment from long-term investment is that it must have an end date that can be calculated. It is the opposite of taking a mortgage out to buy your house, paying it off over 25 years and owning the property.
For example, if you buy <a href="https://www.propertyobserver.com.au/developments/don-t-underestimate-the-risks-in-off-the-plan-buying/2013031959692?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=off-the-plan" target="_blank">off-the-plan</a> and put a $10,000 deposit on a $100,000 property, you would need to borrow $90,000.
If the $90,000 borrowed costs you 5% in interest, it would add $4,500 to the entire cost, therefore the $100,000 investment is in fact $104,500, if you sell within that one-year period. To make a profit, the property must be sold for more than $104,500. If the property sells for $110,000 you have made of profit of $5,500.
The profit is impressive when calculated as a percentage gain on the capital, however take note: if the property sells for $102,000 it will cost you money rather than making it.
For great tips on buying off the plan, download Property Observer’s free ebook – <a target="_blank" rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Weigh up leveraged investments carefully: Tips for off-the-plan

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A feature of real estate’s recent history is the poor growth in sea change locations. A feature of the present is that many of these places are on the rise. A likely feature of the future is considerable price growth in Australian places where tourism is big.
Over the past five years coastal centres where the economy turns largely on tourism have struggled to deliver real estate growth. Many have gone backwards. In Queensland, the Gold Coast, <a href="/news">Cairns</a> and the Whitsundays have been among the worst of them.
The message has been that tourism economies are highly vulnerable to economic, political and natural disasters, both at home and abroad, as well as currency fluctuations and wild weather.
A tale of two northern cities illustrates how much things changed. Cairns was king in the 1980s when tourism was thriving and Japanese investors were the prime movers and shakers. Townsville down the road was the poor cousin.
That is a distant memory. <a href="/news">Townsville</a>, with its broadly diverse economy, has taken over as the capital of the north, while tourism-dependent Cairns has struggled. Townsville has delivered good real estate growth while Cairns has been one of the great under-achievers.
But change is the only constant in real estate. We’re now seeing evidence of those coastal markets rising again and Queensland property consultant Simon Pressley believes it’s a sign of major things to come.
Pressley, who runs 6 Point Property and the propertyology.com.au website, has published a research report which makes a strong case for a strong future for tourism-based locations. And it’s all to do with the Asian Century in which we are now immersed.
“I believe that Australia’s tourism industry will be the next sector to produce investment riches,” he says.
Pressley says the major force behind this is “the enormity of the rise of Asia’s middle class”.
“Asia is in the midst of urbanisation which has created unprecedented demand for ‘rocks and crops’ – the iron ore and coal to construct numerous new gigantic cities plus the agricultural products to support <a href="/news">Asia’s new-found modern diet</a>.
“Dinosaurs, koalas, crocodiles and casino chips will be Asia’s next interest in Australia. The numbers are already showing that Australia is high on their list of most desirable holiday destinations.”
Incomes are rising in nations such as Malaysia, India, China and Indonesia and our proximity to these expanding Asian markets heralds the beginning of a new era of tourism growth and investment opportunities.
Pressley says: “China has already overtaken the UK as our second highest source of tourists, behind only New Zealand. And we are only a couple of laps into this Asian Century marathon.”
His report includes some impressive numbers on the importance of tourism to the national economy: it adds $35 billion to GDP each year, employs 500,000 people and is on target to attract six million international tourists this financial year – spending, collectively, $102 billion.
We are now getting half a million Chinese visitors a year and the Tourism Forecasting Committee predicts one million per year will arrive by 2020.
“Asia’s middle class is rising faster than Gina Rinehart’s bank balance,” Pressley says.
It’s probably not coincidence that Chinese investors are becoming a major force in Australian residential property, spending increasingly large sums on real estate in Sydney, Melbourne and the Gold Coast.
Pressley also warns that investing in tourism-based economies can be a trap for Australian investors. “Tourism locations deliver one of the biggest sucker punches imaginable for the DIY property investor,” he says. “People confuse the emotion they feel when away relaxing with property market fundamentals.”
Very true – it’s why so many people have blown their savings on a high-rise apartment on the Gold Coast.
But the latest statistics show that the strongest growth in sales of residential property in Queensland are being seen in those coastal tourism-based markets, headed by Hervey Bay and the Sunshine Coast, but also including Cairns and the Gold Coast.
Keep watching this space.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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terryryder-YECXbqmri2

Change is the only constant in real estate: Terry Ryder

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One of the biggest risks is that a developer or builder will go under before completion or that a project will fail to get off the ground, but this should result in no financial loss for the buyer.
When you pay your 10% deposit to secure your property it is held in trust either by the selling agent or vendor’s solicitor.
If the developer is unable to go ahead for whatever reason buyers will get their money back.
Another big issue is often the final product. Carolyn Chudleigh, a partner at law firm Holding Redlich, says the best way to protect yourself from a nasty shock is to check every detail on the sale contract, particularly regarding the finishes.
“Most disputes arise from a buyer not being happy with the end product. The best way to avoid this is to be aware of exactly what all of the finishes should be,” she says.
“You should look at the schedule of finishes for all parts of the property, including floor coverings, colour schemes and kitchen appliances. Know everything about the interior, down to how many power points there will be in every room. All of this can be negotiated before exchange of contracts and should be included specifically in the contract if you want to be able to enforce performance against the vendor. If a contract is skinny on detail, there may be little room for complaints at the end of the day,”she says.
Timing of delivery can also be an issue for people buying property <a href="/guides" target="_blank">off-the-plan</a>.
“Developers do need flexibility in the sale contract so they can ensure successful delivery of the apartments, and there are many situations that may cause the delivery date to be extended, such as wet weather.
“Become familiar with what is on the contract that will allow the ‘sunset’ completion date to be moved. Leave no room for surprises. If you do not understand the contract, take it to a conveyancer and have them read it and explain it to you. Do not cut costs, because with buying off the plan you cannot see exactly what you are signing up for,” Chudleigh says.
Purchasers have successfully been awarded large sums of money through the courts where their views have been built out contrary to assurances from marketing agents, so there is recourse.
In Victoria, a new consumer law aimed at improving transparency and disclosure for off-the-plan property came into force early 2012.
The front page of all sales contracts must state three things: that the amount of a deposit is negotiable but cannot exceed10% of the purchase price; a “substantial period of time” may pass between signing the contract of sale and when the buyer becomes the registered owner of the property; and the value of the property may change between the time the contract is signed and when the buyer takes ownership.
These detailed and clear warnings on the contract highlight the risks that are taken when buying off-the-plan.
When it comes to signing the contract you should be completely satisfied with all terms. If you are not satisfied by certain clauses, you should ask to have them amended, though the developer may refuse.
The bottom line is that if you are not happy with the contract, you should seek legal advice. If the developer adopts a “take it or leave it” approach, your best bet may be to leave it.
For great tips on buying off the plan, download Property Observer’s free ebook – <a target="_blank" rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Don't underestimate the risks in off-the-plan buying

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When we talk about the strength of the property market it is very easy to point to clearance rates as the main barometer. Although clearance rates are a good indicator of what is happening week to week, we need to look a bit deeper to anticipate where the market is heading.
Once an auction is finished, the property is sold and the successful buyer exits the market. The result becomes historical the moment it occurs. The under bidders who are left to lick their wounds will determine what happens next. They are the ones we need to focus on.
The Melbourne market was weak throughout 2012 with clearance rates hovering between 50% and 60%. However, hiding behind the clearance rate was that fact that many of these properties were passed in and sold shortly after. This means the properties either failed to reach the expectations of the vendor and/or there was only one bidder. This means there was not much support underpinning the sale result and very little chance of market growth throughout 2012.
Fast forward to 2013 and <a href="https://www.propertyobserver.com.au/news/apm-s-melbourne-auction-results-for-march-16-weekend/2013031759905" target="_blank">auction clearance rates have lifted</a> by around 10%. Many people are asking if this will continue for the remainder of the year. I think there are clear signs it will. I have attended many auctions in the first weeks of 2013 and although not all of them have had a strong result there is no doubt we are seeing more competition.
Take, for example, <a target="_blank" href="https://www.realestate.com.au/property-house-vic-malvern+east-113084891">1/86 Paxton Street, Malvern East</a>. It (pictured below) was advertised to sell for between $560,000 and $610,000 prior to the auction and had a reserve in this range. On the day of the auction the rain was pouring down and usually this would drive the crowds away. When the auction started for the two storey, three bedrooom townhouse style offering, bids were flying left, right and centre and when the flurry stopped everyone was soaking wet and the price had reached $760,000. This was around $150,000 above the vendor’s expectations.
<img src="/images/stories/2013/03/armstrongmarch20one.jpg" width="470" height="351" alt="armstrongmarch20one">
In <a target="_blank" href="/news">Collingwood</a> a couple of weeks ago, the penthouse apartment at <a href="https://www.realestate.com.au/property-house-vic-collingwood-112993683" target="_blank">24/125 Oxford Street</a> (pictured below) was sold for more than $300,000 above the vendor's reserve. Multiple offers were received prior to the auction and the vendor correctly decided to let the buyers fight it out.
<img alt="armstrongmarch20two" height="353" width="470" src="/images/stories/2013/03/armstrongmarch20two.jpg">
 
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While it is clear these results are the exception rather than the rule, they are ‘spikes’ in the market. These ‘spikes’ are underpinned by multiple bidders – in some cases as many as 8 to 10 buyers – who have missed out and now form part of the future market.
This week <a href="https://www.realestate.com.au/property-apartment-vic-prahran-113157899" target="_blank">10/36 Grandview Grove, Prahran</a> (pictured below) will go under the hammer and the agents have been run off their feet with around 100 groups inspecting the property. The property was originally quoted to sell for $500,000 to $550,000 but due to demand the quote has been lifted throughout the campaign and is now expected to sell closer to $600,000.
<img alt="armstrongmarch20three" height="350" width="470" src="/images/stories/2013/03/armstrongmarch20three.jpg">
The sale of this property will set a new bar for this style of property and although the successful bidder will leave the market the remaining buyers and spectators will readjust their price expectations as they branch out into the market. This will result in increased pressure on prices and a greater chance of price growth throughout the year.
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
 
 
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Multiple bidders suggest strength even deeper than clearance rate barometer: Mark Armstrong

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One of only four newly constructed townhouses on Tara Avenue, Kew is available for purchase seeking offers in excess of $2.9 million.
Located only six kilometres from the Melbourne CBD, the townhouse measures 464 square metres (50 squares) over three levels with a lift accessible to all floors.
The <a target="_blank" href="https://www.kayburton.com.au/property/1-tara-avenue-kew">townhouse</a> is on its own title and comprises of four bedrooms and four bathrooms.
Also included is a cellar, outdoor pool and a large carpeted leisure area ideal for a home cinema, gym or studio.
The <a target="_blank" href="/news">Kew</a> townhouses are designed by Coy and Yiontis Design and landscaped by Julian McCarthy Landscapes.
A four-bedroom plus study townhouse has already sold for a price in the mid- to high- $3 millions.
The other two townhouses will soon be released.
Michael Armstrong and Tim Picken from Kay and Burton have listed the property for expression of interest, closing March 26.
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Tara Avenue, Kew townhouse available for $2.9 million-plus

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The Property Council’s Outlook Series is designed to fuel an informed debate about what are the various social, economic and unavoidably political influences impacting the residential market as we well all settle into 2013. The format usually involves developers, planners and marketers and taking the focus of marketing I would like to share my views as recently presented and looking to the year ahead.
My theme was ‘Bridge The Gap’ by which I explore the gap between how buyers in the residential market anticipate what people want from their homes and how affordability impacts the reality of the marketplace. Fully aware of the reality that affordability is a fundamental issue, one that is made up of many factors, most of which as markets we have to either directly or indirectly address.
In 2013, firstly we need to consider a reality check that clearly tells us that ‘today’s teens consumer’ is a very complex demographic, having been markedly impacted by the GFC while mixed with the varied aspirations Generation X and Y combined with those of the Baby Boomers presents some very fascinating markets within the residential matrix.
While some quarters have started to argue that it is well and truly the time to look beyond the GFC it is not possible to dismiss many of the lingering influences that are now apparent across the residential market. From a marketing standpoint, where our message has to gain traction with the teens consumer the GFC has along with other demographic shifts re-cast how many consumers see home ownership.
Despite a <a target="_blank" href="https://www.propertyobserver.com.au/observers/fhbs-still-struggling-to-enter-the-market-catherine-cashmore/2013031559897">variety of barriers</a> people still want to own their own homes, there is still a society wide aspiration that anticipates that most of us will eventually do so and it’s a fact that every politician also understands. It’s a big part of the reason why infrastructure has climbed into such prominence and the aspiration to own a home is not limited to one set of demographics.
Family formation is still the central driver of demand, but when it comes to financing a home we are dealing with a more conservative market, consumers are more debit adverse than they have ever been, while house prices continue to rise as do rents we are still left in a market where future capital growth looks less robust. Taking on a higher level of debit with an eye to future ‘gains’ has lost much of its appeal.
The Financial Hard Yards
In the <a target="_blank" href="/news">Sydney</a> market we now have a median house price that is sitting very close to $650,000, median rents are $490-$500 per week and almost despite their location apartments have an average cost of $10,000 per sqm.
Looking at the apartment market in particular what this mix leads too is a fairly daunting financial hurdle that is now a constant when it comes to marketing any new project.
So it’s sobering to consider some current figures to illustrate my point. If we take the average sale price of new apartments now on the market at $518,000, then compare that to the average monthly household income of $7102 and assume a 6% mortgage rate over 25 years our buyers are looking at monthly repayments of $2670 and that’s 40% of their income.
It’s no wonder that first time buyers in the market are less active and this is also leading to a big impact on what type of apartments are in demand and also where buyers are concentrating their search.
To stress this point, as if any further emphasis was needed, last week it was reported that the federal government’s independent adviser on housing, the National Housing Supply Council warned that poor planning and high costs could be taking Australia towards being a nation of renters that would also influence the composition of our housing stock.
Poor Planning Too Long Neglected
Poor planning is a theme that is not new to anyone in our field and is a constant source of concern expressed in Project Agenda. The tone of many presentations at the <a target="_blank" href="https://www.propertyoz.com.au/Article/NewsDetail.aspx?p=16&amp;id=7237">Property Council’s Outlook Series</a> made reference to the impact of poor planning and the lack of infrastructure and in marketing new projects these issues remain a constant problem.
It’s notable that comments made during the PCA function indicated that planning issues are now being tied more closely with restrictive regulations and planning delays at the state and local government level, while policy makers were keen to see solutions and real progress made, there were still concerns that grass roots implementation was proving more difficult to achieve.
 
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Making The Connection
Against this background there is clearly a shift that has taken place in what type of apartments are in demand and in marketing projects where sales are strongest and who is buying. Both vital elements if a project is to be successfully sold.
As the above comments highlight it is finance and affordability that are the main factors influencing buyers, but there are also other key issues that we need to take into consideration in planning and in our marketing.
Did you know we now have in Australia an average of 2.7 persons per household? While the number of sole person households has been increasing for some decades. Across the apartment market as might be expected this has markedly influenced the type of product being sold and to whom and this shift is also having a material impact on what these same buyers see as priorities influencing where they buy.
These are all key points that must be considered in addressing the viability of any project that will profoundly impact the marketing.
How we work in this environment I feel requires a mix of marketing solutions that I can fully appreciate may at first appear to be a somewhat daunting tasks. Many factors like those we have already discussed here including planning, finance and a shift in consumer sentiment are well outside our control but non the less this is really nothing new as external factors have always driven the level of activity and this certainly includes residential property.
I do acknowledge that apartment markets because of the much higher numbers and density involved might well tend to concentrate some trends, but as I will go onto to explore in another post, with a full appreciation of market drivers there are clear solutions to consider as we seek to ‘bridge the gap.’
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
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Bridging the gap between buyer expectations and affordability: Peter Chittenden

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The property market is continuing to <a target="_blank" href="https://www.smartcompany.com.au/property/054444-hope-rises-for-property-market-on-yet-more-solid-auction-sales">grow in strength</a>, as Melbourne and Sydney recorded another weekend of positive results on the back of low interest rates and an improving economy.
Sydney recorded its fourth weekend of clearance rates above 70%, with 75% of the 450 houses up for grabs sold at auction on Saturday and Sunday, according to Australia Property Monitors figures.
Melbourne, the auction capital of Australia, also continued to perform well, with the Real Estate Institute of Victoria reporting a clearance rate of 69% for the 806 auctions listed.
APM senior economist Andrew Wilson told SmartCompany the prestige market in Sydney is just starting to respond after an extended slow period – and described the year so far as being "exceptional".
"Certainly the trend is consistent over the year so far, averaging about 70% for clearance rates, the highest since the beginning of 2010.
"Next weekend is one of the biggest weekends for auctions for the year and the scene is set for a very big day of sales if the current trend is upheld. There is no reason for the trend not to be, as the market appears to be strengthening," he says.
Over the weekend, APM reported seven properties selling in Sydney with values over $2 million.
The most expensive house sold at auction in Sydney, a four-bedroom home in <a target="_blank" href="/news">Vaucluse</a>, went for $3.35 million, but it was beaten for the title of top auction result by a Lavender Bay property which went for $5.6 million following negotiations after it was passed in.
Wilson says, overall, Sydney's bayside and inner city suburbs continued to do best, with these areas having clearance rates of about 80% and the eastern suburbs having a rate of 89%.
Next weekend, over 700 properties are expected to be auctioned in Sydney. Over 1,200 auctions are expected in Melbourne, which the REIV says is likely to be the fifth highest on record.
Wilson says Melbourne, like Sydney, is seeing a greater spread of activity.
"Similar to Sydney, we're seeing a bit more of a spread. The middle ring, north eastern and eastern suburbs of Melbourne had clearance rates of around 70%.
"We're reasonably confident these trends will continue, with <a target="_blank" href="https://www.smartcompany.com.au/property/054665-low-interest-rates-strengthen-overall-property-market-but-resistance-remains-rba">low interest rates fuelling increased demand</a> and confidence in the market place," he says.
In Victoria, the REIV reports the total value of residential sales at auction is at $1.8 billion, compared to $1.5 billion this time last year. The value of private sales is also estimated to have risen from $3.9 billion to $4.5 billion.
Melbourne's top five sales were all above $2 million.
However, while the property market flourishes in Melbourne and Sydney, it continues to struggle in Canberra.
RP Data estimates sales of houses and units were down 20% on the five year average in 2012 and down 13% from 2011.
Wilson says the local economy has impacted the market in Canberra.
"I do believe the main driver in a smaller market like Canberra is what's happening in the local economy. A rise in unemployment and job losses in the public sector does trickle into the property market," he says.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Auction boom continues in Sydney and Melbourne

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A Bay Street, Brighton house was Melbourne's highest weekend auction sale.
The $4.85 million sale through Buxton came after two bidders in a weekend when the REIV reported a 69% auction success rate.
Recent <a target="_blank" href="/news">Brighton</a> private treaty results have included a quiet one in Blairgorwie Court, Brighton which has been on the market for some time.
The buyers agent Mal James suggests it was sold for over $6 million through Jonathan Dixon of JP Dixon.
It was sold by the mining executive Peter Reeve and his wife Anne.
Mr Reeve, an executive director at Havilah Resources, put the 1920s-era house on 2700 square metres with a pool and tennis court,with initial $7.5 million hopes.
The Reeves had paid a reported $7.05 million at the peak of the market.
Brighton was in the news last week with still unconfirmed reports that a St Ninians Road property was bought by the retired Australian cricket captain Ricky Ponting for about $10 million.
And another private treat sale was 17 Albert Street, Brighton that has been sold for just over $4 million through Ian Jackson having previously sold in April 2010 for $3.9 million.
The weekend Melbourne clearance rate of 69% was compared to 61% last weekend and 58% this weekend last year.
There were 804 auctions reported to the REIV this weekend, with 557 selling and 247 being passed in, 134 of those on a vendor bid.
"This year there has been an increase in the overall value of residential sales at auction with $1.8 billion worth of homes having sold compared to $1.5 billion this time last year," Enzo Raimondo, the REIV chief said.
"The value of private sales is also estimated to have risen from $3.9 billion to $4.5 billion."
Next weekend the REIV expects around 1,210 auctions and this is likely to be the 5th biggest weekend on record.
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Bay Street, Brighton $4.85 million weekend top seller adds to the $1.8 billion 2013 Melbourne auction sales tally

<html><body>Australian Property Monitors (APM) has released a list of results from 332 auctions in Melbourne for the weekend of  March 16. <a style="font-size: 14px;" target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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