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.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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

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Australians are not saving enough for a self-funded retirement. Or should I say, they are not putting away enough now to live at the standard they want to live at in retirement.
Superannuation has been in the news lately because the government is tinkering with super. But poor savings rates for retirement can’t be all the fault of government. Superannuation – when introduced in 1992 – broke the rules that said governments and employers carried the burden for funding our retirements. It shifted private retirement savings from a “defined benefit” system (where the employee is promised a certain amount at retirement by the employer) to a defined contribution system, where every employee has to have 9% of earnings put in a superannuation fund.
This shifted responsibility and risk to the individual, many of whom lacked the skills to do it. But there also came with this system empowerment and individual choice for Australians, younger generations in particular, who would have an entire working life to build their savings.
So the fact that few young Australians are optimising this tax-friendly retirement system with top-ups to their employer contributions is an interesting story.
Why are young Australians not engaged with their super? And when I say young, I mean people from their 20s to 30s – people who are out of school and working.
I don’t think this is about whether the super guarantee is 9% or 12 or 15. If people aren’t embracing it at 9% they won’t be any more interested when it’s higher.
I decided to use Twitter to see what people were thinking about retirement, and two clear strands of thinking came back. Firstly, we have a system where all the burden falls on people to make the right decisions, but no one seems to be teaching basic investment strategy in high schools.
While teachers will understandably groan at adding one more thing to an already crowded curriculum, there really has to be an investment primer for teenagers before they join the work force.
The second point concerns modern life: when you get into the phase that brings kids, mortgages and/or career ambition, the last thing you are thinking about is topping up your super and devising a retirement strategy.
A number of respondents simply said that with a mortgage and kids, are you kidding about super?
Which is the nut we have to crack: we need people to top up their super when they’re at their highest earning years in order to provide the income they need to live well in retirement. But for most people these years overlap with mortgages and kids while the cost of living is rising.
There are no easy answers but I will go back to basics and remind everyone that super is their money and it’s their retirement. It’s never too late to become informed and active about super. You may thank yourself for it one day.
I would love to know your thoughts. <a href="https://www.twitter.com/@markbouris" target="_blank">Talk to me on Twitter</a>.
Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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Australians are not saving enough for retirement

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Mirvac has sold just over half of the 205 apartments in its Array residential tower in Melbourne's Docklands, its interim results reveal.
Marketing of the 39-storey development commenced six months ago (September 2012), with apartments priced from $520,000 for a one-bedroom apartment to $7 million for a penthouse.
The $218 million development is due to be completed in 2016, with first settlements occurring in mid-2015. Site works on the project have already begun.
Mirvac <a href="https://www.propertyobserver.com.au/news/mirvac-profit-slumps-with-residential-outlook-mixed-but-improving/2013021459345?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">reported a 69% slump in net profits </a>in the six months to December 31, with the expectation that the Victorian market will underperform relative to other capital city residential markets.
Mirvac is the developer of the Yarra’s Edge portion of <a target="_blank" href="/news">Docklands</a>, a 14-hectare site on the southern banks of the Yarra River that extends out from the <a target="_blank" href="/news">Southbank </a>promenade connected to the city via the new South Wharf precinct.
Mirvac’s vision for Yarra’s Edge is for “an exclusive village-style neighbourhood … offering the ultimate in waterfront living”.
Array is one of five residential towers planned for Yarra’s Edge, alongside a full-service marina, parklands, a day spa and a mix of shops, cafes and restaurants along the promenade.
Mirvac has almost completed construction of another residential tower Yarra Point featuring 201 apartments, of which 170 apartments have been sold with prices ranging from $510,000 to $2.4 million. First settlements are due from next month.
The other residential projects at Yarra’s Edge are the 82 luxury Riverfront homes, which have all been completed and of which just two remain available for purchase and the marina, featuring 149 yachting berths of which 105 have been sold.
Mirvac plans to have built 2,000 residences in Yarra’s Edge by completion of the 18-year project in mid-2017.
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Half of apartments in Mirvac’s Array development in Docklands sold

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David Devine's Metro Property Development continues to be the top off-the-plan seller in the inner-Brisbane market, with three of its projects ranking as the three top sellers in the December quarter of 2012.
It was the third successive quarter that Metro has been the top performing developer in inner Brisbane, where more than 40 projects are being marketed or under construction.
Metro's The Plaza at South Brisbane ranked first with 57 unconditional sales over the quarter, followed by Cambridge Towers in Fortitude Valley with 25 sales and Brooklyn on Brookes, tied for third with 23 sales.
The figures are based on a report compiled by market research firm Place Advisory.
Metro now has more than 800 apartments across four different projects under construction throughout inner-city Brisbane.
David Devine told Property Observer in November that Metro’s ability to offer apartments to investors that qualify for the federal government’s <a target="_blank" href="https://www.propertyobserver.com.au/queensland/nras-and-smsf-investors-helping-keep-inner-brisbane-off-the-plan-market-afloat-david-devine/2012112858155">national rental affordability scheme (NRAS) </a>and that appeal to investors acquiring property through their self-managed super funds are key reasons for its success to date.
The projects – the three mentioned above a well as Madison Heights at Bowen Hills – have combined end value of more than $400 million.
The success of Metro’s projects comes as new research from by Urbis shows that the apartment market is continuing to grow and now makes up 38% of total residential transactions in the inner Brisbane market.
This is up from just 10.2% of all transactions in 1981 with Urbis forecasting that due to the geographical nature and scarcity of vacant land within the Brisbane LGA this proportion may exceed 50% of all transactions by 2016.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/devinefeb14.gif"><img src="/images/stories/2013/02/devinefeb14thumb.gif"></a>
The 12-level The Plaza (pictured below) has been designed by architects Deicke Richards and is under construction at the corner of Russell and Manning streets on a 2,270-square-metre site and will feature 168 apartments.
<img src="/images/stories/2013/02/theplaza1.jpg" width="470" height="393" alt="theplaza1">
It is 83% sold out, with recent sales ranging from $413,000 for a one-bedroom apartment measuring 52 square metres to $562,000 for a 72-square-metre two-bedroom, two bathroom apartment, according to the Midwood Report.
The building will also feature a pool, gymnasium, outdoor dining area and garden reading room.
Approval for the project was granted in August last year.
<img src="/images/stories/2013/02/cambridgetowers.jpg" width="470" height="325" alt="cambridgetowers">
Cambridge Towers (pictured above) is the first building in the six-tower Central Village master planned precinct and includes 163 apartments over 18-storeys.  Apartments range from $275,000 to $550,000 and feature a mix of studio, one bedroom and two bedroom apartments.
Construction at Cambridge Towers has now commenced after Metro appointed PBS Builders to the project.
<img src="/images/stories/2013/02/brooklynonbrookes.jpg" width="316" height="421" alt="brooklynonbrookes">
The 14-level Brooklyn on Brookes apartment block (pictured above) being built on the corner of Brookes and Ann streets in <a href="/news">Fortitude Valley</a> feature 216 one and two bedroom apartments ranging from $305,000 to $750,000 and is 80% sold out. It adjoins the Emporium shopping complex.
The building was designed by architects Wood Bagot to be a New York-style apartment project.
It is a joint venture project with Indian-based developer Pearls Australasia, which has also collaborated with Metro on the completed and sold out Chelsea in Bowen Hills and the Madison Heights apartment tower, also in Bowen Hills and currently under construction.
Pearls Australasia bought the Sheraton Mirage Resort and Spa on the Gold Coast for a reported $60 million in 2009.
Devine says a number of market factors had helped influence the strong sales figures.
“We’ve seen a marked increase in sales over the past few months as interest rates remain low, consumer confidence has risen and the market has stabilised.”
Another strength, he says is finding the right location for the right property including being close to transport, shops, entertainment and parks
“They’re also just a few minutes away from major employment hubs like Brisbane, South Brisbane, Fortitude Valley, Newstead and Teneriffe.
“Combined with communal amenities like rooftop terraces and swimming pools; stylish interiors; and competitive pricing, our apartment projects are in high-demand.”
Devine says the Urbis statistics, combined with Metro’s success over recent years, indicated a fundamental change in the way Australian’s viewed property.
“The great Australian dream is changing… where once everybody wanted quarter-acre block with detached home they are now increasingly looking for a stylish apartment, with great views and amenities,” he says.
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David Devine's Metro remains Brisbane off-the-plan top seller

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Compared to other states and territories, home auctions are less common in Western Australia, with only around 2% of properties sold using this method.
By contrast, around 23% of properties are auctioned in Sydney, 30% in Melbourne, 11% in Brisbane, 27% in Adelaide, 16% in Darwin and 10% in Canberra.
Across the nation the average number of homes sold by auction is approximately one out of every five.
The main reason behind the lesser auction culture in WA seems to be the success of the offer and acceptance form developed by REIWA. This reliable document used for a sale by private treaty would be familiar to most home buyers, and its simplicity is the main reason why private treaty dominates sales methods here.
However, the strong and fast market in Perth during the boom resulted in renewed interest in auctions – and it wasn’t just confined to the western suburbs or to premium properties, which had traditionally been the case.
When prices were rising quickly during that period, it was often hard for agents to determine the right price for a property or anticipate what a purchaser might be prepared to pay, so an auction proved an ideal way to get the best price for the seller, often exceeding the vendor's expectations.
Of course, the WA market is no longer booming and the median price is more stable, but an auction with its short but high-profile marketing campaign can be very effective at bringing out the more serious buyers on the day.
When there are many properties listed for sale and hesitant buyers are spoilt with choice, an auction might be just the thing you need to give your property the edge it needs to attract attention.
Sometimes the media reports that many auctions are being passed-in at the fall of the hammer, recording no sale.
However, this fails to illustrate that very often West Australian buyers will approach the auctioneer shortly after the conclusion of an auction to negotiate a sale by the more familiar private treaty method. Again, this seems to be more a part of WA’s different auction culture by consumers, but the process still serves to attract keen buyers for the seller in a shorter time.
Auctions in WA are undertaken using a code of practice for the profession following consultation by REIWA with the Australian Competition and Consumer Commission to ensure the code accords to best practice. As a result, REIWA believes its code of conduct lifts the benchmark for ethical auctioneering practices.
Ask your agent about the pros and cons of auctions if you want to explore this method further.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Why more WA home owners should consider selling their homes at auction

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Australian household net worth started rising in 2012 alongside a recovery in house prices in the later part of the year, graphs prepared by the RBA in its February monetary policy statement reveal.
<img width="470" height="419" alt="rbafeb11" src="/images/stories/2013/02/rbafeb11.gif">
<img width="470" height="362" alt="rbafeb111" src="/images/stories/2013/02/rbafeb111.gif">
The RBA also notes that residential vacancy rates remain relatively low at around 2%, contributing to rents growing faster than inflation and rising rental yields.
<img width="470" height="581" alt="rbafeb112" src="/images/stories/2013/02/rbafeb112.gif">
“Nationwide, rents are growing at an annual rate of around 4%. With rents growing faster than dwelling prices over the past year, nationwide gross rental yields have increased to 4.75% (and as high as 5.5% in Perth)."
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Australian household wealth rising as house prices and yields lift: RBA 

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Excluding the prestige market or developments targeting empty-nesters, over the last five or so years the internal areas of the typical apartment have diminished considerably. Previously, the average studio was approximately 45 square metres, and one-bedroom apartments averaged 65 square metres. Two- and three-bedroom apartment averaged 90 square metres and 120 square metres respectively. At present, the average studio apartment has reduced to 38 square metres, while the average one-bedroom apartment sits at 50 square metres.
An average two-bedroom apartment typically ranges from 75 square metres to 85 square metres, and the few three-bedroom apartments being developed now start at approximately 100 square metres. Designs are changing and lifestyle demands are driving this trend, however the internal areas cannot diminish much further and are set to plateau. We have now seen this in the empty-nest market, where product below three bedrooms (and possibly with a study) will either not sell or take a long time to market.
Design at the forefront
The downsizing in apartments is not an isolated trend, and there are several other parallels worth noting that all point to how as a society we are responding to ever more pressures on our cities. Holden has announced that it may not make any more Commodores after 2014 as we switch to smaller cars. And, speaking of cars, as more inner-city apartments do not come with parking the rise of car share schemes is set to be more common. Developers are not including parking in some areas in response to council planning but also in an effort to make apartments more affordable.
These trends are all based around the shift in demographics towards more centralised apartment living, and they will continue to be key marketing points as they reflect a wider social demographic.
As apartments get smaller, design will have to get smarter, just like cars, as a small car now has features once only associated with the luxury end of the market. Design qualities will extend beyond how the available space used to include very pragmatic issue like providing ample storage.
An example from New York
Recently the New York City Mayor Michael Bloomberg <a target="_blank" href="https://www.nyc.gov/portal/site/nycgov/menuitem.c0935b9a57bb4ef3daf2f1c701c789a0/index.jsp?pageID=mayor_press_release&amp;catID=1194&amp;doc_name=http%3A%2F%2Fwww.nyc.gov%2Fhtml%2Fom%2Fhtml%2F2013a%2Fpr032-13&amp;cc=unused1978&amp;rc=1194&amp;ndi=1">announced the winner</a> of the city’s micro-apartment competition. The contest launched last July was to design a 22-square-metre to 33-square-metre apartment. The winner (a collaboration between Monadnock Construction, the Actors Fund Housing Development Corporation, and nARCHITECTS called My Mirco NY) helps to show how good design can make a smaller apartment a very appealing space.
Some of the key points from the winning design included: high ceilings, dual-use furniture, a long, narrow floor plan, micro kitchen, floor-to-ceiling storage, and loft space.
Like Sydney, New York is also facing similar concerns about affordability, which was part of the reason behind the contest. To address affordability, 40% of the units will be offered below market rates and will be built on city-owned land, and as such will be social housing.
Like Australia, in the US the growth rate for one-person and two-person households is above that of larger households, and this is driving the need for quality design of smaller apartments.
The New York example again demonstrates that as apartments get smaller design qualities will be important, and developments will need to be based on socially diverse and facility-rich areas. Planning and local authorities will need to look beyond current regulations and evolve new progressive models.
This is a debate that clearly has an international flavour and urgency. If we are to avoid living in a "cupboard apartment" – even if we can choose to shop in Harrod's food hall, then now is the time for innovative thinking, planning and marketing. It’s a debate that we need to contribute to.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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pchittenden-eLqUUC8TWW

Australian apartments won't be getting any smaller

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Making predictions pertaining to our residential property markets has been challenging since 2007 – however it appears that in 2013 that task won’t be as difficult (I hope). The Reserve Bank of Australia (RBA) gave a clear indication that their manoeuvring of the cash rate in 2013 will be closely reflective of Australia’s property data. <a target="_blank" href="/news" title="Housing prices have moved higher: RBA governor’s statement ">Housing prices have moved higher: RBA governor’s statement</a>, which confirms my prediction last week that I believe the official cash rate will not go below 3% in 2013.
<a target="_blank" href="https://www.theage.com.au/business/the-economy/next-rate-cut-up-to-the-banks-20130205-2dw23" title="Next rate cut up to banks ">Next rate cut up to banks, </a>which is exactly what the RBA would be hoping,so it did not take long before <a target="_blank" href="https://www.propertyobserver.com.au/news/westpac-lead-the-big-banks-below-5-on-nfixed-home-loans/2013020659208" title="Westpac lead the big banks below 5% on fixed home loans">Westpac lead the big banks below 5% on fixed home loans</a>. It’s over to the others now – the NAB’s lowest fixed  rate is 5.34% for its one-year home loan, the Commonwealth Bank offers a one-year fixed of 5.19%, while ANZ offers a two-year fixed rate at 5.49% – so watch with interest should they decide to sharpen their respective pencils next week. If you’re planning on selling you should not sign  up, given when you are fixed you then qualify for break fees should you sell during your fixed term.
So the good news for property owners is that the <a target="_blank" href="https://afr.com/f/free/blogs/christopher_joye/house_price_recovery_under_way_I3OkqQO7imoCeJQYb1x3AN" title="house price recovery under way">house price recovery under way</a>, which overall is a pleasant change given for once, the <a target="_blank" href="https://www.propertyobserver.com.au/residential/for-once-the-statistics-agree-that-property-prices-are-rising-terry-ryder/2013020659198?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright" title="statistics agree that property prices are rising">statistics agree that property prices are rising</a>. Having said that, we are of the opinion that we will see a gradual albeit minimal capital appreciation throughout 2013. Further evidence is that <a target="_blank" href="/news" title="AFG reports record January figures with $2.2 billion ">AFG reports record January figures w</a><a target="_blank" href="/news" title="AFG reports record January figures with $2.2 billion ">ith $2.2 billion </a>mortgages approved which represents their highest cumulative value ever recorded for the group. Australia’s population has a firm foot on the accelerator.
For those watching the Australian All Ordinaries closely, it currently sits at just below the 5,000 mark – historically when the All Ordinaries is north of 5,000 our property markets are booming. Although I foresee that what we are seeing presently is a false economy given investors have moved from protecting their cash reserves to re-investing back into the shock market. <a target="_blank" href="https://www.smh.com.au/money/investing/all-ords-at-17000-just-rally-round-this-forecast-20130106-2cb24" title="All Ords at 17,000? Just rally round this forecast">All Ords at 17,000? Just rally round this forecast</a> well that is a prediction for 2030 – so don’t panic.
<a rel="attachment wp-att-7402" href="https://www.rwm.com.au/2013/02/2013-a-different-market-get-on-with-online/7-02-2013-3-47-34-pm/"><img width="470" height="438" src="https://www.rwm.com.au/wp-content/uploads/2013/02/7-02-2013-3-47-34-PM.jpg" alt="7-02-2013 3-47-34 PM"></a>
As we reported last week the Mosman, Cremorne and Neutral Bay volume of listings is down considerably on previous years. Interestingly, this statistic is not only restricted to our demographic markets, as <a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-property-listings-fall-by-surprising-6-in-january-to-lowest-level-since-april-2010-sqm/2013020359117?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews" title="Sydney property listings fall by ‘surprising’ 6% in January to lowest level since 2010: SQM.">Sydney property listings fall by ‘surprising’ 6% in January to lowest level since 2010: SQM.</a> It is interesting to note that Mosman house listings continue to hover at the moment at approximately 25% down on this time last year. It will be fascinating to watch how these figures alternate through 2013.
However, our <a target="_blank" href="https://news.theage.com.au/breaking-news-business/construction-sector-continues-to-shrink-20130207-2e08j" title="construction continues to shrink ">construction </a><a target="_blank" href="https://news.theage.com.au/breaking-news-business/construction-sector-continues-to-shrink-20130207-2e08j" title="construction continues to shrink ">continues to shrink</a><a target="_blank" href="https://news.theage.com.au/breaking-news-business/construction-sector-continues-to-shrink-20130207-2e08j" title="construction continues to shrink ">,</a> which just so happens to be the 32nd month of contractions within our building industry.
Robert Simeon is a director of <a target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog<a target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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robertsimeon-hRNTwJyXkQ

Gradual, minimal house price appreciation in 2013

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Six out of the 10 suburbs picked by Australian Property Monitors senior economist Andrew Wilson as offering the best prospects for price growth have already beaten inflation over the first six months of the year.
Wilson picked Fairfield, Blacktown, St Ives, Rooty Hill, Lethbridge Park, Macquarie Fields, Doonside, Punchbowl, Ingleburn and Kingswood at the start of 2013 as his detached housing hotspots.
Apart from wealthy upper north shore enclave of St Ives, popular with South African expats, where the median house price is above $1 million, the nine other suburbs are all traditional “battler” locations in the western outer ring of the Sydney metropolitan region with Ingleburn, 44 kilometres south of the CBD, the furthest away.
They all have median prices well below the Sydney median house price of $673,000.
To date, the top performer has been Fairfield, 29 kilometres west of the city where the median house price has risen 12.1% to $474,000, followed by Blacktown (9.2%) and St Ives (5.8%).
The others recording price growth above inflation – currently at 2.6%  - are Rooty Hill, Lethbridge Park Macquarie Fields
<img height="237" width="470" src="/images/stories/2013/larry_uploads/APM_HOUSES1.jpg" alt="APM_HOUSES1">
Fairfield is a multi-cultural suburb with large Vietnamese, Arabic and Chinese communities. Just over a third (37.5%) of Fairfield’s 39,515 residents were born in Australia with 16% born in Iraq, according to the 2011 census. Vietnamese is the most commonly spoken language in Fairfield outside of English.
Homeownership is relatively high in Fairfield with just 30% of residents renting compared with 40% who rent across NSW.
However, Fairfield along with Lethbridge Park are among the most socially disadvantaged suburbs in Sydney, according to the Australian Bureau of Statistics.
Recent sales below $500,000 in Fairfield include a 1960s built weatherboard house with two-bedrooms at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-fairfield-114053147">61 Crosby Crescent</a>, which sold for $432,000 at auction on July 6 through Stephen Jurinic of Pretti Real Estate - Fairfield Heights. It was listed with expectations above $390,000. RP Data records show it last sold for $112,000 in 1995 – annual growth of nearly 8%.
Another recent sale was a renovated <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-fairfield-108781911">six bedroom house at 462 The Horsley Drive Fairfield</a> also built in the 1960s within walking distance to the Fairfield CBD.
It sold for $485,000 through Muhammad Mushtaq of Ray White – Fairfield having last sold for $312,000 in June 2012. RP Data photographs show the house partially gutted and surrounded by fencing, prior to its renovation.
It currently rents for $550 per week – a gross yield of around 5.9%.
Property Observer reported earlier this month that <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/fairfield-mansion-with-granny-flat-fetches-%241117-million-in-sydney-weekend-auctions/2013071363235">Fairfield mansion with granny flat</a> fetched a $1.117 million suburb record price in Sydney weekend auctions. The McMansion has seven bedrooms and a two-bedroom granny flat.
Wilson wrote recently in the Fairfax-owned Sun Herald that APM “relative affordability” of suburbs like Fairfield and Blacktown compared with the rest of Sydney was the reasons they were popular
“Because Sydney is the most expensive city in Australia, there is always that drive at the bottom of the market for budget-priced properties,” Wilson said.
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APM's Andrew Wilson’s top 2013 Sydney suburb picks showing price growth led by multi-cultural Fairfield

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The trendy inner Sydney suburb of Potts Point stands in stark contrast to the more affordable suburban unit markets picked by Australian Property Monitors senior economist Andrew Wilson to be the top performers for 2013 – most of which are showing good prospects of price growth.
Figures for the first six months of year show seven out 10 of Wilson’s top picks are beating inflation (2.6%) lead by Penrith on the western outskirt of Sydney, with unit prices up 8.4% to a median of $257,000 as of the end of June.
Potts Point ranks fourth best performing market out of the 10 chosen by Wilson with respectable price growth of 4.2% and a median unit price of $525,000 – more than double that of Penrith.
Ahead of Potts Point is the south west suburb of Wiley Park, where unit prices are up 7.9% for the first six months of the year and neighbouring Lakemba, where unit prices have risen 5.5%.
Both suburbs are within postcode 2195 in the Canterbury/Bankstown region with a high proportion of residents with Lebanese and Bangladeshi ancestry and with only a third of residents born in Australia, according to census 2011 data.
Around 88% of residents in these two suburbs are the children of parents born overseas.
The other inner city unit hotspot in the top ten, Ultimo, has yet to fire with unit prices treading water at median of $470,000.
Interestingly, Fairfield, the strongest performing detached housing suburb among Wilson’s 2013 picks with house prices up 12.1% over the first six months of the year has not shown the same strength across units, with median unit prices down 3.5% over this period with a median price of $273,000.
<img height="248" width="470" src="/images/stories/2013/larry_uploads/APM_UNIT_HOTSPOTS.jpg" alt="APM_UNIT_HOTSPOTS">
Recent Wiley Park unit sales include a two bedroom apartment in a <a href="https://www.realestate.com.au/property-apartment-nsw-wiley+park-108397731" target="_blank">small block on Shadforth Street</a> which sold for $257,000 through Carlos Almeida of Just Think Real Estate – Parramatta. RP Data records show it sold for $235,000 in 2009. It is currently rented for $310 per equating to a gross yield of around 6.3%.
Another sale in Wiley Park was a two-bedroom unit in a <a href="https://www.realestate.com.au/property-unit-nsw-wiley+park-113948619" target="_blank">1960s-built block at 279 Lakemba Street</a> which sold through Luke Knapton of Knapton &amp; Co Pty Limited – Lakemba.  It sold for $284,000 having previously sold for $236,000 in February 2010. It is currently rented for $330 per week equating to a gross yield of around 6%.
Around $500,000 plus gets you a two-bedroom unit in Potts Point. Recent sales include a <a href="https://www.realestate.com.au/property-apartment-nsw-potts+point-114369391" target="_blank">71 square metre apartment at 238 William Street</a> which sold for $565,000 through Romany Brooks of BresicWhitney – Darlinghurst.
RP Data records indicate it previously sold for $450,000 in 2008.
Part of a 2008 built block, the apartment has rented for $490 per week equating to a yield of 4.5%.
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Penrith, Wiley Park and Lakemba beat Potts Point for price growth among Andrew Wilson's unit hotspots for 2013

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Australia's seasonally adjusted unemployment rate remained steady at 5.4% in January, says the ABS.
This was better than economists’ expectations of a small rise to 5.5%, a result which will be noted by the Reserve Bank as it starts thinking ahead to its March 5 monetary policy meeting.
The economy added a further 10,400 jobs over the month with total employment at 11,549,100.
The increase in employment was driven by increased part-time employment, up 20,200 people to 3,450,700 and was offset by decreased full-time employment, down 9,800 to 8,098,400 people.
The increase in total employment was mainly driven by an increase in female part-time employment. The number of people unemployed increased by 2,000 people to 659,600 in January. The ABS reported a seasonally adjusted labour force participation rate decrease of 0.1 percentage points to 65% in January.
CommSec economist Savanth Sebastian says there is "something for everyone in the latest jobs data". 
"The optimists could focus on the rise in overall employment and conclude all is fine. The pessimists would look at the third consecutive fall in full-time jobs coupled with the fall in hours worked and conclude something more concerning," he says.
"What is clear is the job market isn’t shooting the lights out but by no means is unemployment soaring. In a big picture sense the job market is in a holding pattern with a modest degree of softening.
"Yes, it was encouraging that employment grew but more forward looking indicators like job advertisements have suggested that further labour market gains may be more circumspect. In fact internet and newspaper job advertisements have fallen for 11 consecutive months, suggesting job growth is likely to flat line in coming months," he says.
"In a perverse way the unemployment rate is holding steady because more people gave up the search for work.
"Over the past year the missing ingredient in the domestic economy has been confidence, however there are anecdotal signs that there is an improvement in confidence. Rate cuts, healthy house prices and rising share markets should provide some level of encouragement to policymakers, households and businesses.
"The rate cuts in recent times will help to support activity in coming months and continue to provide businesses with a more breathing space – especially given that trading conditions are difficult," he says.
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