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]

Joel Robinson

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

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Abadeen unveils penthouse at Park Residences in Cremorne

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

<html><body>
In a startling misreading of a situation, AAP reported recently that fly-in, fly-out workers were the reason homes were “selling for 10 times their real value” in mining towns.
AAP’s clanger was compounded by The Australian, which published the report verbatim.
At the end of 2013, when I hand out my annual awards, this piece will be a strong contender for "worst article of the year".
The spectacular claim that homes were selling for 10 times “their real value”, right at the top of the article, was not explained or justified later in the article.
It simply stated: “As locals miss out, the influx of temporary workers is creating housing shortages, driving up real estate prices.”
The article didn’t advise where this unprecedented phenomenon was occurring, nor how the conclusion was reached that sales at a particular price level were in fact 10 times their true value. If multiple sales are occurring at those prices, then that constitutes true value, regardless of disaffected locals claiming it’s 10 times what they’re really worth.
But the bigger mistake is the befuddled notion that workers who don’t live in a town, and therefore do not buy or rent there, can somehow be responsible for local prices rising. The impact of extensive use of FIFO workers is the opposite.
If the federal government banned the use of FIFO labour, it would cause rents and prices to rise because it would mean everyone working on a project needed to live locally. If people feel mining town prices are 10 times higher than they should be, how would they feel about prices being 15 or 20 times higher?
The use of FIFO workers actually removes pressure on local rents and prices. The workers fly in or drive in for their shift, stay in temporary workers accommodation provided by the mining company and head home when their shift is done.
There are all kinds of negative impacts of this – and this is what the recent federal inquiry looked at – but rising rents and prices is not among them.
Last week it was announced that BMA (the BHP-Mitsubishi Alliance) planned to have 100% FIFO workers on two new mines in Queensland’s Bowen Basin. The Moranbah Airport, a key entry point for the FIFO trade, has just had a $46 million upgrade to cope with the extra traffic.
Decisions like this have all kinds of impacts on towns like <a target="_blank" href="/news">Moranbah</a>, but they don’t include pushing up property prices because none of the FIFO people live in the town. Moranbah rents and prices are falling right now, with residential vacancies up around 7%. In nearby Dysart, vacancies are approaching 15% and rental yields, previously above 10%, are now down around 5%.
BMA, having downsized its workforce in the area last year, is now planning to move to 100% FIFO workers. It will cause prices to drop, not rise.
All of this creates a new phenomenon for property investors: buying in the locations where FIFO workers live with their families and spend their above-average incomes, rather than in the locations where they work.
In Western Australia, a huge share of the workforce on iron ore mines comes out of the Perth region. In Queensland, FIFO workers are clustering in Mackay, Townsville, the Whitsundays and Hervey Bay.
Terry Ryder is the founder of <a target="_blank" href="https://hotspotting.com.au">hotspotting.com.au</a>
</body></html>

terryryder-YECXbqmri2

FIFO workers responsible for housing price falls, not rises: Terry Ryder

<html><body>
The first round of the Property Tycoon auction tipping has come and gone with very different results for the two Victorian era homes featured on Property Observer <a href="https://www.propertyobserver.com.au/news/victorian-beauties-part-of-auction-extravaganza/2013022159467" target="_blank">last week</a>.
Clayton Smith from Jellis Craig failed to gain any real momentum at the auction of 10 Erin Street, Richmond (pictured below).
<img alt="tippingfeb25one" src="/images/stories/2013/02/tippingfeb25one.jpg" width="470" height="354">
Only one bidder put up their hand before the property was passed in on a vendor bid of $2.4 million.
The bar was raised by a further $100,000 after the auction but the $2.5 million offer still fell well short of the vendor’s $2.75 million reserve.
In Sydney, Ben Collier from McGrath had an easier job on his hands when 44 Gordon Street, Paddington went under the hammer.
<img alt="tippingfeb25two" src="/images/stories/2013/02/tippingfeb25two.jpg" width="470" height="351">
After paying just under $2.4 million for the property eight years ago the vendor was a seller if the bidding exceeded $3 million.
When the bidding topped that by over 100,000 it was certain a sold sticker was going to appear on the board.
The property sold for $3.125 million.
The website, <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/" rel="nofollow" target="_blank">www.propertytycoon.com.au</a> allows punters to guess what they think properties will sell for at weekend auctions in Melbourne and Sydney.
This season <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow" target="_blank">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a>
The winner of the overall Property Tycoon competition will win $1,000.
</body></html>

po-LsXgBTHBmX

Richmond prestige fails to sells in Property Tycoon tipping's first week

<html><body>
The official launch of the year in property sales has begun, with both Melbourne and Sydney recording some of the best auction clearance rates seen in years – leading some experts to believe the market is on the turnaround.
Property analysts say not only have auction clearance rates continued to exceed those of last year, but better results are starting to be seen across the board. While most of the market has been contained to prestige sales in Melbourne and lower-cost markets in Sydney, that trend is moving into other market segments.
“There are the first signs of a revival in the middle market in Melbourne,” says Australian Property Monitors chief economist Andrew Wilson.
“The auction activity has been skewed to the top market there and the bottom end in Sydney but we’re drifting into either end of the sector now.”
The latest figures from the Real Estate Institute of Victoria show the city recorded a massive 903 auctions with a 73% clearance rate, compared to 70% last weekend and 57% this weekend last year – the REIV pointed out it was the strongest result in over two years.
“There can be no doubt the improving trend that started last year has continued this year and it reflects improved consumer confidence,” chief executive Enzo Raimondo said in a statement.
APM’s own data shows Sydney recorded a clearance rate of 76%, up from 69.3% last week and 55% last year, with the organisation recording 316 reported auctions.
While SQM Research managing director Louis Christopher tells SmartCompany he believes the Sydney result is lower based on the fewer number of reported auctions, the results are nonetheless a positive sign.
However, he says the market is still fragmented, with “some areas doing quite well…and others where values are falling”.
Wilson says the results could be attributed to some other aspects of a strengthening economy, but says it’s more likely several interest rate cuts have finally had an impact.
“It’s an extraordinary weekend, really,” he says. “You can’t use any contingency to explain them away other than the fact this is a rising market.”
“The first couple of weeks of this year were quite good, but with low listings. This is a high listing weekend, and we’re seeing a rise in seller numbers in line with these strong clearance rates.”
Next week is expected to be another strong weekend in Melbourne, with nearly 1,000 auction slated. Wilson says the success of the past few weekends will bleed into the next few months.
“Its own success will build momentum, and now I think this becomes an issue for policymakers,” he says.
“Is it really a surprise we have a rising housing market with historically low interest rates? History tells us low interest rates will fuel activity, and we’re seeing that now.”
Wilson says the prestige market in Melbourne has historically been the saviour of the auction-hungry city, but that success is now bleeding into the mid-range market, a good sign the market in general is improving.
“We didn’t really see this momentum building last year. So it looks like buyers and sellers have just been waiting.”
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">Smart Company</a>.
</body></html>

pmcstafford-pr9eMARWoN

Bumper weekend auctions record highest clearance results in two years

<html><body>Australian Property Monitors (APM) has released a list of results from 349 auctions in Melbourne for the weekend of February 25. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Melbourne auction results

<html><body>Australian Property Monitors (APM) has released a list of results from auctions in Sydney for the weekend of February 23. The clearance rate was 76.2%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM: Sydney's 341 auctions show a 76.2% clearance rate

<html><body>
After<a href="https://www.propertyobserver.com.au/trends/australians-are-not-saving-enough-for-retirement/2013021759365" target="_blank"> last week’s column</a> where I asked for your thoughts on why there’s so little engagement with superannuation, I got a lot of responses, and the clear message that comes through is one of ownership and confidence.
Firstly, because the superannuation guarantee is siphoned off from an employee’s pay packet – into a superannuation account – Australians have little sense of ownership. It feels like a tax; it feels like something the government takes rather than something that employees actually own.
Secondly, those who responded made the emphatic point that it’s hard to have confidence in a system that’s supposed to be our long-term retirement savings but is seen as a short-term proposition by governments. "Stop changing the rules" seems to be the clear signal to governments.
Moreover, there are deeper problems in retirement savings, as I discovered this week when I found myself in a small group of high-achieving people whose ages ran from 25 to 74.
As we spoke it became apparent that superannuation was as hard to engage with in this group as with any. In other words, a general disengagement from super is as prevalent in high achievers as it is for anyone, and in all age groups.
The younger people I was speaking with were embarrassed that they weren’t more interested – none of them felt they had a good grasp on planning for their future. The more mature folks admitted they only became interested on the verge of retirement and urged the youngsters to become interested now. The people in between – in their 40s – were pushing to do the best they could with the time they had left.
Interestingly, among these high earners, the ones who didn’t have an adviser had no little knowledge about how to find one, or more importantly, how to find one who they could trust.
In my mind, the most important part of retirement planning is to take the responsibility and to take action. Responsibility and action.
Once you’ve established these two things, you don’t have to leap further into super if it doesn’t make sense to you. There are other ways to provide for retirement, such as share portfolios, building a business and investing in property.
I happen to think that the tax benefits and security of superannuation is a compelling reason to use this system, especially since the law requires a certain amount of your income is invested in super anyway.
Nevertheless, the important thing is to accept that it’s your responsibility to provide for your retirement, and with life expectancies increasing, you should be looking at providing for 30 years of living rather than 20.
And having taken this responsibility – your money, your retirement, your investments – then you have to take action: find an adviser, establish what you need to do, and do it.
Don’t be embarrassed. Embarrassment makes people duck the obvious questions and avoid making decisions. Embarrassment makes people procrastinate and that’s no way to approach retirement planning.
It’s your retirement, and it’s your money. So, be active, be responsible and take action before it’s too late.
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. 
</body></html>

mbouris-tauSvXGAM2

Don't be afraid to ask the obvious super questions: Mark Bouris

<html><body>
The 'Great Australian Dream' of a home with a sizeable backyard is increasingly being abandoned in favour of medium-density dwellings such as units, townhouses and semi-detached houses, according to new research by Bankwest.




The Bankwest Housing Density report finds 38% of Australian home approvals over the past 12 months were for medium-density housing compared to 31% only five years ago.
The prevalence for medium density dwellings is not surprisingly highest in the capital cities with the reporting find that 87% of medium density approvals across Australia were located in capital cities with only 13% found in regional areas.





This reflects a considerable jump up from 69% in 2007 from the increased volume of medium density approvals recorded in Melbourne and Sydney over this period, with inner city areas facing the highest demand.





Since this 2007 period, inner Melbourne has seen 97% of housing approvals for medium density dwellings with inner Sydney and inner Brisbane following closely behind at 95%.





“The convenience of an inner-city lifestyle is driving demand for medium-density housing in centralised areas. Young city professionals are shunning the traditional homeowner dream in favour of lower overheads and a shorter commute to work,” says Bankwest retail chief executive, Vittoria Shortt.




The report also showed an increase in medium-density housing approvals in seven of Australia’s eight capital cities since 2007, with Perth being the only exception seeing a fall in its share of medium-density housing approvals over the last year of 20% compared to the level of approvals over the last five years of 23%.





“Higher than average wages and a sprawling city mean that Perth’s residents aren’t facing exactly the same space and affordability issues as those on the East Coast,” says Shortt.





The highest proportion of medium density housing approvals recorded outside of Australia’s capital cities, generally occurred in tourist and mining areas. Queensland’s Gold Coast East tourist hub had the biggest number of dwelling approvals over the last five years at 87%.





Mining areas across the Northern Territory, Queensland and WA also saw significantly high numbers of medium housing approvals last year. East Arnhem had 54% of total approvals for medium density dwellings, 43% of approvals for Queensland’s North West and 39% of approvals in De Grey in WA’s Pilbara region.



Shortt says the high property prices in Australia have made the dream of a standalone house in the suburbs significantly harder to achieve, leaving medium density housing the more affordable alternative.





“The popularity of medium-density housing will likely be maintained as older Australians continue downsizing to more manageable self-contained units and first time buyers look to medium-density dwellings as a cost-effective option."





Bankwest's First Time Buyer Deposit Report, released in December 2012, found units were a more suitable option for first time buyers wanting to live in Australia’s capital cities, taking the average first time buyer couple 3.3 years to save for a unit deposit compared with 4.2 years to save for a house deposit.
Photo by Michael Senchuk, courtesy of Flickr.
</body></html>

gdwyer-vyxhMDDW5L

Aussie home with a backyard dream over: Bankwest survey

<html><body>
For much of last year the Australian housing markets were a "tug-of-war", with low interest rates pulling hard on one end of the rope and poor consumer confidence at the other.
Despite many of the fundamentals being sound, consumers were sitting on the sidelines waiting to see how the economy played out or for someone to ring the bell that the property market had bottomed.
Well… no one rang the bell, but our property markets did bottom in the middle of last year and consumer confidence is slowly returning.
In a moment I’m going to share nine reasons why I feel our property markets are going to perform well this year, but let’s first look at:
 
Consumer Confidence 
Last week the Westpac/Melbourne Institute index of consumer confidence rose to its highest level in over two years. Consumer confidence rose sharply in NSW and Western Australia and recorded healthy gains in Victoria and Queensland.
The index is up 7.2% over the year to February and this is the first big jump in confidence since the RBA commenced its rate-cutting cycle which dropped its interest rate by 1.75%.
Now don’t get me wrong, this is good news for our housing markets, but confidence isn’t at the level it was in previous rate-cutting cycles and this points to more subdued property price growth than might be expected given the current level of interest rates.
<div><img src="/images/stories/2013/02/yardneyfeb22graph1.jpg" width="470" height="297" alt="yardneyfeb22graph1"></div>
<div>Source: Westpac</div>
<div></div>
 
What does all this mean?
Over the last few years, global as well as local economic uncertainty caused Australians to stash their cash. Some saved their pennies, many reduced their credit card debt and others took advantage of low interest rates to pay off the principal in their home mortgage.
But things are changing and the average Australian is now feeling more confident about their future and their job security. There has also been a strong wealth effect for households from rising stock prices on the ASX.
If history repeats itself, increasing confidence, low interest rates and robust financial   positions will encourage many Australians to ramp up their borrowings again and get into the property market.
The following chart from economist Leith Van Onselen of <a href="https://www.macrobusiness.com.au/2013/02/a-confidence-lift-for-housing/" target="_blank">Macrobusiness</a> plots the annual change in house prices (as measured by the ABS) against the annual change in the consumer sentiment index on a quarterly basis up to December 2012 and shows how rising consumer sentiment is a bullish indicator for Australian house prices.
<img alt="yardneyfeb22graph2" height="335" width="470" src="/images/stories/2013/02/yardneyfeb22graph2.jpg">
What are the implications for interest rates? 
It’s likely we’ll see the increase in confidence feed through to the broader economy, as well as stimulating further rises in our sharemarkets and house prices.
In today’s connected society, as confidence rises there will be a new group of investors who will fear missing out and this will stimulate the investment cycle to once again move forward.
This suggests that the Reserve Bank won’t make changes to interest rates any time soon, preferring to see how the economy responds to the rate cuts it has already made. 
Nine reasons our property markets will perform well this year 
I’m confident about our property markets in 2013, not only because consumer confidence is rising but:
1. Last week NAB confirmed that business confidence is also rising. This is good for our economy and for job prospects.
2. The Australian sharemarket has performed remarkably well over the last year, enhancing people’s wealth, replenishing their super funds and instilling confidence in investors.
3. The world’s economic problems seem to be diminishing. China’s growth seems to be back on track with predictions of 8% growth this year. The USA is slowly working it’s way through its economic problems, and while Europe is still a basket case, no one seems to be worried that it will bring down the world banking system like they were last year.
4. We have record low interest rates. This means existing home owners and investors are benefiting and paying down their debt faster; while new borrowers will reap the benefits of being able to borrow more.
5. Household budgets are in good shape. Since the GFC, Australians have been saving more. Credit card debt is low and 68% of people are ahead on their mortgage payments. Our robust household balance sheets means we have more money to invest and as people hear more good news stories in the media they’ll start to put their money into property.
6. Low interest rates and less volatility in our economy make cash and interest bearing deposits unattractive investments. While some investors will look at getting into the sharemarket, many won’t forget how the volatility of equities burned them a few years ago and will look to the security of bricks and mortar.
7. After the turmoil following the GFC more Baby Boomers are keen to control their own destiny by managing their own self-managed super funds (SMSF). Rivers of cash from SMSFs are going to be flooding the real estate markets over the next few years.
8. Increasing immigration and a shortage of properties in some inner and middle ring suburbs of our capital cities will see rents continue to increase. On the one hand, this will provide investors with better yields, but it will also encourage a new group of first home buyers to get a foot on the property ladder.
9. Recently, economist Christopher Joye used the following graph in <a href="https://www.afr.com/p/blogs/christopher_joye/housing_values_maintain_build_up_N2u1LtLLkNmHCKvZXOxlFJ" target="_blank">The Australian Financial Review</a> to confirm that despite what some of the overseas reports are suggesting, Australian houses are more affordable than they have been for over a decade:
<img alt="yardneyfeb22graph3" height="486" width="470" src="/images/stories/2013/02/yardneyfeb22graph3.jpg">
In summary
The property markets have bottomed, consumer confidence is returning and the property cycle is moving on. Already we’re seeing more people attending open for inspections and making offers on good properties and auction clearance rates for the first few weekends of this year have been strong.
The beginning of a new property cycle is a great opportunity for investors to ride the next property wave and doesn’t come around that often.
2013 will be a good year for property. Educate yourself, learn lesson from the past and take advantage of the opportunities the market has to offer.
</body></html>

myardney-DFoGhGbSJX

Why 2013 will be a good year for property: Michael Yardney

<html><body>
Hi Margaret
We have an investment property that needs some tidying up to maximise the rent – things such as replacing the carpets, renovating the kitchen and bathroom, painting and a carport.
Should we get a depreciation schedule before and after the renovations?
Your help is appreciated.
Regards
Debbe
 
 
Hi Debbe
I am so glad that you clarified this before you went ahead.  There is a significant benefit to be gained from what is known as ‘scrapping’, but all too often investors think of this after they have already thrown everything out, and this is too late.
First of all, your property has to be technically in the middle of being rented.  So, if it’s never been rented and you carry out these minor renovations before you make it available to rent, then you will not be able to make claims.  The property must be ‘income-producing’ in order to make claims.  So the best time is either while the tenant is in there, or in between tenancies.
If you do not know the value of the items which you will be removing from the property, start out by having a depreciation schedule prepared.  You are allowed to estimate the value of plant and equipment yourself (but not construction values), but in my experience it’s easier to have the schedule prepared, as this provides your construction values too.   Once you have had this done, go ahead and carry out the makeover.  Then, have the quantity surveyor come back to prepare an updated schedule.  It’s probably helpful if you can keep a list of anything you threw out to assist them.
You can then go ahead and ‘scrap’ any items which had a value before you disposed of them.  This means that their full, remaining value as at the time you threw them out carries an immediate deduction of 100% of the value for you, in that year!  For example, if you dispose of $5,000 worth of old items, you can claim an immediate tax deduction for the entire amount! For those on the 40% tax bracket, this is a tax break of $2,000, which isn’t to be sneezed at!
Good luck with your renovation!
Update
Last week a reader asked me to clarify whether I meant that you could avoid capital gains tax if you move out of your Principal Place of Residence for up to 6 years (as written), or if I meant 6 months!
You can move out of your PPOR for up to 6 years and still claim the PPOR exemption on that property, as long as you are not claiming the exemption on any other property.  You can rent it out during this time.  You must move back in (or sell it) not a day later than the 6 years are over.
The ‘6 month overlap rule’ is a different rule – it states that you can apply the PPOR exemption to two properties at the same time for an overlap period of not more than 6 months.  This allows you to move from your former home and into a new one and have 6 months to sell the old one without incurring CGT.  Again, the timing is strict; one day more than 6 months and the CGT applies form the date you moved out.
 
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
</body></html>

mlomas-KC9MUPZ6Ca

Ask Margaret: When should I get a depreciation schedule?

<html><body>
Investors who purchase Perth apartments or Perth properties priced under $500,000 have the best prospects for capital growth over 2013, says WBP Property Group CEO Greville Pabst.
Pabst expects these types of Perth properties to generate capital growth of between 5% and 10% over 2013.
However, the outlook is far from uniform across Perth with Pabst forecasting that Perth holiday homes could lose up to 5% of their value over 2013 with declines of up to 3% for residential development sites.
The outlook for Perth houses within 20 kilometres of the city is for capital growth of around 7% at best, but there could be no price appreciation for Perth houses over 2013.
Little if any gains are tipped for the Perth prestige market ($2 million plus).
The outlook in Sydney is strongest for established housing within 10 kilometres of the CBD (up to 5% growth) with small gains for established units (up to 2% growth), but the rest of the market is expected to struggle with Sydney holiday homes set to fall by as much as 10% in value.
The forecasts cover the key capital city markets of Sydney, Melbourne, Perth and Brisbane and recognise that "different markets [within a larger market] perform differently”.
The outlook is fairly consistent for Brisbane, with modest growth tipped across both houses, units, the holiday market, mortgage belt and even for the long-struggling residential development site sector.
House prices within 20 kilometres of the Brisbane CBD are forecast to grow by 5% or more.
In Melbourne the prospects are strongest for established house and units but weakest for holiday homes and development sites where values could fall by double digits.
Pabst says it’s important for buyers to recognise that “no two properties perform the same because no two properties are exactly the same.
“Size, suburb, street and lot location, orientation, condition and broader economic conditions underpin property performance on an individual level, and exercise significant influence on capital growth,” he says.
<img alt="wbpfeb22one" height="317" width="470" src="/images/stories/2013/02/wbpfeb22one.gif">
<img alt="wbpfeb22two" height="152" width="470" src="/images/stories/2013/02/wbpfeb22two.gif">
<img alt="wbpfeb22three" height="173" width="470" src="/images/stories/2013/02/wbpfeb22three.gif">
Note: The forecasts do not include analysis of off-the-plan properties and only include legitimate resales
Photo courtesy of Flickr.
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News