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

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

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

Dalcott targets owner-occupiers with South Brisbane debut Marrone

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

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

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

ODUS releases $18 million penthouse crowning La Mer Main Beach

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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3A Bamfield Street, Yagoona, NSW 2199 <img width="470" src="/images/stories/2012/12/bamfield.jpg">
This one-year-old, four-bedroom duplex is currently tenanted at $600 a week to tenants on an expired lease who are keen to stay on. It includes a single lock-up garage and two bathrooms. 
Raine &amp; Horne listing agent Charlie Wakim <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/253909" target="_blank">is marketing the property</a> with price hopes of $500,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 6.2% at its current rent, well above the gross rental yield for Yagoona houses of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $13,000 and over five years to be $45,000.
The median house price in Yagoona fell 2% in the past year but rose 27.2% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">Yagoona, see the RP Data suburb page.</a>
The property will be open for inspection Saturday, December 15 at 3pm and will go to auction on December 22. 
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cknowlton-QnEa6ntUYP

Friday form guide: Yields of up to 6.2% in Yagoona

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The biggest change on the SQM top 10 discounted listings this week was a price revision from $520,000 to $499,000 at Morayfield in the hinterland of the Sunshine Coast in Queensland.
The three-bedroom rural property was initially listed in October 2011 at $790,000.
"This makes its total discounts amount to $291,000 – 37% in percentage terms," SQM's Louis Christopher notes.
He suggests the after 419 days on the sales market, the vendors will be hoping that this most recent price decrease will attract some serious buyer interest.
 1. 
  <a href="https://www.realestate.com.au/property-other-tas-taranna-106879142" target="_blank">5756 Arthur Highway, Taranna, Tasmania, 7180</a>
<a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank"></a>Days on the market: 783 Initial asking price: $499,000 Current asking price: $299,000 Reduction: 40%
 
2
<a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank">19 Lychee Drive, Caboolture, Queensland, 4510</a>
Days on the market: 923 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
 
3
<a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488" target="_parent">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
Days on the market: 685 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37%
 
4
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Rural/QLD/Morayfield/?adid=2009282451">276 Forest Hills Drive, Morayfield, Queensland, 4506</a>
Days on market: 419 Initial asking price: $790,000 Current asking price: $499,000 Reduction: 37%
 
5
<a href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228" target="_blank">15 Gretel Two Rocks 6037</a>
Days on the market: 1,071 Initial asking price: $1.1 million Current asking price: $690,000 Reduction: 36%
 
6
<a href="https://www.realestate.com.au/property-house-tas-white+beach-106479093" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
Days on the market: 923 Initial asking price: $780,000 Current asking price: $499,000 Reduction: 36%
 
7
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/Campania/?adid=2009601469" target="_blank">409 White Kangaroo Road, Campania, TAS, 7026</a>
Days on the market: 244 Initial asking price: $2.3 million Current asking price: $1.5 million Reduction: 35%
 
8
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-crawley-105528871">1b Hackett Drive, Crawley, WA, 6009</a>
Days on the market: 1,326 Initial asking price: $3.95 million Current asking price: $2.6 million Reduction: 34%
 
9
<a href="https://www.realestate.com.au/property-apartment-vic-docklands-109665546" target="_blank">1601/8 Marmion Place, Docklands, VIC, 3008</a>
Days on market: 280 Initial asking price: $830,000 Current asking price: $550,000 Reduction: 34%
 
10
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106977238">618/ 85 -89 The Entrance Road, The Entrance, NSW, 2261</a>
Days on market: 749 Initial asking price: $299,000 Current asking price: $199,000 Reduction: 33%
 
SQM Research also offers a list of the <a title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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jchancellor-FAypfDUnLy

Top 10 discount in Queensland records 37% price revision after 419 days on the market: SQM

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There is a hotly contested argument in the Australian property investing landscape: Buying off the plan versus buying established properties.  Most investors starting out are likely to enter the unit market instead of buying freestanding houses. This is particularly evident in capital city markets, where detached dwelling price entry points are usually not within reach of first-time investors. So investors look to the unit market for easier accessibility and (arguably) easier ongoing management while holding. As such, they come across this choice fairly early on in their investing career, with some favouring off-the-plan apartments and others preferring established stock only.
But which type is the best?
I favour established stock, and here’s why:
First of all, let’s start with the biggest factor: price. Property is all dependant on location, we know this; but if compare the price of an off-the-plan unit with an established unit (same bedrooms, floor space, parking etc) in the same suburb – and even street –  the cost will be much cheaper. Sure, the older unit may not be as pretty, or have as modern styling or features, but it will be significantly cheaper than the off-the-plan stock, making it more readily accessible for entry-level investors.
Additionally, there is scope for renovation to increase value and rental return, throughout your ‘holding’ life for the property. This is a handy tactic in times where capital growth may be flat, or when increasing interest rates can dip an investor too far into the ‘negative’ in terms of holding cost. Off-the-plan residences have a built-in maximum ceiling rate for rent with little scope to add value via renovation for a good five to 10 years from completed construction.
This flows into my next point. Established stock that has stood the test of time is typically better built than new stock. Not always, but developers look to cut corners with building materials, design, and functionality. Sometimes developers are looking only at what will drive their biggest profit margins, instead of the dynamics of the area they are constructing the block in are demanding. I find this interesting because often developers market most heavily not to would-be home owners, but to would-be investors.
You should always pay utmost attention to your due diligence when buying off the plan for this reason. It is never a happy discovery when an investor realises that while she signed off on Smeg kitchen appliances two years back, her finished kitchen is furnished with cheap inferior fittings that look OK for about a year but have no wear and tear sustainability. This translates into expensive holding costs in years two, three, and four when inferior fittings break down.
Somebody has to pay for all those marketing costs. Yep, somebody has to pay for all those fancy high-gloss 60-page booklet they print, every billboard ad, every online banner ad they have to buy ad space for. No prizes for who picks up the bill for it: yep, you, the investor. And working for over six years in the media advertising industry myself, let me tell you that mass-scale marketing ain’t cheap. As investors, paying for someone else’s marketing campaign is something that should be avoided, and buying established stock helps reduce your risk of exposure to this.
 
<hr class="system-pagebreak">
 
This is also a good transition in to my other bugbear about off the plan units. Sure; people who are pro off the plan will be quick to retort about how depreciation in the first five to seven years will be a huge tax incentive for them, and they will be able to get great returns for the "golden years" that any depreciation report findings will offer them in these years. But the reality is this; you lose whatever gains you would have made – and then some – by paying for those over-inflated marketing costs to begin with! Savvy investors know this. What good is say $18,000 of additional depreciation revenue over the first five years or so, if you’ve had to outlay an inflated sales price by $30,000 to begin with?
Buying off the plan in areas of high development is a huge risk area. We’ve seen areas of Melbourne, Gold Coast, and more recently inner Brisbane, all suffer from this. Developers find areas that have high demand and then accommodate for that demand in their offering. Sounds fairly logical, right? Here’s the problem; another 15 developers have also had an eye for the same area, yet there may only be demand for say, four or five buildings worth of tenants in that area over the next two years of construction. See the problem? Suddenly that rental appraisal for your off-the-plan apartment of $400 per week now, in 2012, is whittled down to $330 per week in 2014, where, at completion, your apartment is just as vacant as countless others, in a saturated marketplace.
Developers will always have a vested interest in maximising the volume of units they can fit in one block. The result? Too many small units that do not have the features that the local would-be renters in that suburb desire most. The most glaringly obvious casualty, in the fight for maximising floor space, is to lose dedicated separate kitchens in favour of ‘galley’-style kitchens that are really just one wall in a small lounge room. This may be fine for, say, inner-city studio and one-bedroom apartments where the market is happy to have a tiny kitchen in favour of other features, but I am seeing more and more developers building two-bedroom apartments in middle to outer-ring areas of cities with galley kitchens. This is a huge no-no because most times, middle-ring two-bedroom would-be tenants demand dedicated kitchens. Older style units – say, older than 10 years or so – will usually provide dedicated kitchens in units of this type.
Lack of understanding renter demand is one thing developers can miss, but there is another negative flow-on effect here, and that is in strata and maintenance costs. Many off-the-plan developments have special features – rooftop gardens/terraces, water features, lifts, pools, gyms and so on – and while it is no secret that this sharply increases strata costs quarter to quarter, the issue of supply and demand can also adversely affect capital growth here. How? Well, what good is an on-site tennis court, for instance, if the development is in an area that has no demand for such a thing? If I am a tenant looking for housing but am not a tennis player. why would I pay $40 more per week in rent to have a feature I will not use? Older stock tends not to have such extravagant features. This is because older stock was arguably better planned to understand the demands of the community who were to reside in their structures.
Location. Savvy investors will know that well-located older stock can increase in value much faster than off the plan can. And I am not just referring to heritage, character, or other "cherished" types of property. I am referring to prime location. For instance, if there is an old red-brick, three-floor walk-up that is wedged between two community parks, complete with barbecue areas, play gyms and other amenities, you know that a developer won’t come along any time soon, bulldoze the park, and build a 10-story monster next to your block (effectively cutting off views and amenity). Sure, while this does happen from time to time, it is a rarity. Off the plan, on the other hand, usually secures blocks in areas where entire streets and multiple blocks are rezoned for medium-density housing. What does that translate to? Well, that beautiful eighth-storey apartment overlooking the park with city views could very likely have three equally tall buildings constructed around it, a couple of years later, if zoning has allowed for this. This reduces your capital growth and sometimes rent rate achievable too; if once-great views are obstructed and extra stress – parking problems, traffic, and noise – occur as a result.
Last of all, parking issues. Parking may not be in high demand for some areas, but for those that are, often developers simply build big basements in which they simply have dedicated spots, separated only by painted lines. Fewer basements these days are offering dedicated lock-up garages, per unit, in favour of open-air painted-line car park spaces. For areas where car parking is in high demand, lock-up garages will always be more favourable than just spaces. Tenants like the flexibility of having that space – they can have storage, or a car, or sometimes both if there is enough space inside. If parking is a high priority, tenants will usually favour an older style unit with dedicated lock up garage, than a newer block with a security basement without dedicated lock up storage per unit.
Although I am in favour of established stock over off-the-plan units, in the end, any investment is always about the due diligence. If you get down to one of each type of dwelling; and the numbers stack up to favour the off-the-plan unit, then you should obviously go for that. I am keen to be challenged on the points I make above, as I am sure there are benefits to off the plan purchases that I’ve not considered, but for now; this investor remains to keep his buy-and-hold strategy exclusively to existing stock purchases only.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" href="https://propertyspectator.blogspot.com.au/">Property Spectator.</a>
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cmcevoy-Go82SmsJA9

Why you should buy existing property rather than purchase off the plan

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Property investors who may have missed the best opportunities for growth in the Queensland mining town of Gladstone and should instead consider investing in an up and coming investment hotspot like Geraldton in WA, says hotspotting.com.au’s Terry Ryder.
Ryder urges caution when considering investing in Gladstone and says it's property market is at risk of oversupply.
He says developers have been desperate to get into Gladstone, but because of the time it takes to get approval, they have been a couple of years behind the market, up until now, with projects starting to come on board.
“If you fly into or over Gladstone, you see there are just new housing estates and earth-moving machinery everywhere,” said Ryder in a recent <a target="_blank" href="/news">Property Observer</a><a target="_blank" href="/news"> webinar</a> looking at investment hotspot opportunities in 2013.
Ryder says the best growth opportunities in Gladstone were two year's ago.
Rather, he suggests investors take a good look at Geraldton, which he says has the potential to evolve into a Gladstone.
Geraldton is a coastal town of about 35,000 people about 430 kilometres north of Perth.
“It’s a city with a nice diversity (agriculture, fishing, tourism, mining, ports) to its economy and it receives a lot of benefit from iron-ore mining to the east.
Ryder says there have been delays in getting the $6 billion Oakajee port off the ground, but believes it will happen.
“And when it does go ahead, it will take Geraldton to another level."
Another project which Ryder says tends to be overlooked is the $3 billion Square Kilometre Array (SKA) project, which will be the world’s largest and most sensitive radio telescope, to be designed and constructed in the desert to the east of Geraldton (alongside a twin project in South Africa) between now and 2024.
“This will make Geraldton a city of international importance,” Ryder says.
Looking back over the success of Gladstone and other established hotspots, Ryder says the trend witnessed in boom markets is that rents are the first to rise, before prices go up.
“We noticed this in Gladstone in 2011, where there were massive rental increases but prices did not move at all."
Ryder says the prices rises in Gladstone happened this year with price growth in various Gladstone suburbs of 16% to 17% - about one year after the rent rises.
He says a lot of people have been emailing him about Gladstone asking if it is too late to invest.
 “I think it is too late to get the best growth prospects, although there still will be growth.
“You still have $70 billion worth of LNG projects under construction, a $5 billion steel mill is still to start and there is the expansion of the port and rail, which will bring lots of jobs to Gladstone.
 “But my point is that the best time to invest in Gladstone was two years ago.
“When that new [housing] supply comes in, there is the risk there will be too much – and one for investors to be cautious about,” he says.
For more on Terry Ryder's hotspots selections for 2013 and the three other regional locations that could be the next Gladstone, watch the full free webinar  - <a href="/news">Regions versus capital cities - where to invest in 2013?</a> 
 
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lschlesinger-FZcF9M3vE6

Investors should look at Geraldton as future Gladstone style hotspot: Terry Ryder

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The combined capital city auction clearance rate was recorded at 51.6% last week, up from 47.1% the previous week. Across the capital cities, there were 2,175 auctions last week, while at the same time last year, there were 2,057 auctions and the clearance rate was recorded at 44.9%.
Melbourne’s auction clearance rate was recorded at a strong 57.8% last week, up from 53% the previous week. There were just fewer than 1,000 auctions across the city over the week, up slightly from 986 the week prior. At the same time last year, Melbourne’s auction clearance rate was recorded at 45.5%. In Sydney, auction volumes were slightly lower last week, when 774 auctions were held across the city, down from 791 the week prior. The clearance rate increased from 45.8% the week prior to 54.4% last week.
It is expected that there will be around 2,100 capital city auctions next week in another busy week prior to the slowdown over the Christmas and New Year period.
Click to enlarge
<a href="/images/stories/2012/12/rpdec11.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/12/rpdec11thumb.gif"></a>
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po-LsXgBTHBmX

Auction clearance rates pick up in lead-up to Christmas and New Year period: RP Data

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The median house price in the remote Queensland regional town of Cloncurry rose 35% in the past 12 months. In the same period, the median house price in the upmarket Sydney suburbs of Double Bay fell 35%.
That is the black and white of property markets around Australia. In between, across the thousands of suburbs and towns in this country, have been many different shades of grey.
Some markets have boomed, some have grown moderately, some have stagnated, some have gone a little backwards and some have gone into reverse rapidly.
Those at the positive end of the growth scale are overwhelmingly in regional areas with some influence from the resources sector. Those at the negative end are mostly upmarket suburbs in capital cities.
The simple message in this? There’s no such animal as “the Australian property market”.
Next time you hear an analyst discussing what will happen in the Australian property market next year, you can assume you’re listening to a charlatan. There are surprisingly large numbers of them getting airplay.
People keep asking me what will happen next year in the property market, and I keep asking them which market they’re referring to. There are dozens of different answers I could give, depending on location and market segment.
 
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The key to success in property investment in 2013 is understanding that there is not a single market out there. There are thousands of them. Next year, more than ever, the market will be highly segmented. There will be boom markets and there will be disasters, and numerous variations in between. Prosperity depends on distinguishing one from the other.
Given the record numbers of consumers who registered for the <a href="/news">webinar I conducted last week with Property Observer</a>, there’s a lot of interest in what might happen in real estate next year.
We’ve seen some recovery in capital city prices, we’ve seen an improvement in consumer sentiment and we’ve had a sixth interest rate cut. What are the prospects for next year?
Overall, many markets will be stronger in 2013 than this year. There is a gathering of indicators pointing in the right direction, including the number of new housing loans, the improvement in affordability, the rise in consumer confidence and the impact of interest rate reductions.
But there will not be a uniform movement in markets. Among the eight state and territory capitals, for example, I see strong upward trends for Perth and Darwin, solid increases for Sydney and Brisbane, moderate improvement in Adelaide, stagnation in Canberra and further decline in Melbourne and Hobart.
There will, of course, be variations within each of those cities, with some locations doing better than others, influenced by local factors such as new infrastructure and improved affordability.
Beyond Darwin and Perth, which are the standout contenders among the major cities, I see the best opportunities being found in the regions.
That was undoubtedly the case in 2012, and it will still be so in 2013.
Keep watching this space, as in coming weeks I will discuss some of the regional markets I see thriving in the 2013 economic environment.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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Best opportunities for property investors will be in regional areas with mining influence in 2013: Terry Ryder 

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Last week I highlighted how it is impossible to overlook the key influence of location in the project DNA of any development.
<a href="https://www.propertyobserver.com.au/developments/location-the-most-important-consideration-in-a-new-residential-development-peter-chittenden/2012120358265" target="_blank">Here in a recent conversation with one of my associates, Shane Dargue,</a> from Colliers International in Melbourne, we will explore this topic in greater detail. From the outset I think it is clear that taking a site to market is a complex subject. topics like planning and infrastructure are never out of sight.
Thinking of a location as a blank canvas immediately opens the way for creative thinking so that one day the final development will deliver the very best result, and this is, I think, the core challenge this subject will explore. Recently in both NSW and Victoria the major land delivery agencies have been facing evolving roles as a result of shifting market pressures and dynamics, and I think this further underlines how complex a market this is.
Where are the demand hotspots?
Starting our conversation, I firstly wanted to know from Shane his take on the current demand for residential development sites and then moving onto what he believes are the key marketing challenges for new medium and high-density sites.
“This a big topic, but there are some common factors across most markets. But firstly we need to step back a few years, just to get a common starting point.
“Until 2010 across almost all markets there was what I would without reservation describe as an environment of fever pitch activity, and in particular in Melbourne. Then over the past few years 2011-12 there has been a shift in demand for sites. We have come of the highs of 2010 but clearly sites are still being sold, still in demand.
“The dynamics have moved to where the development risk has taken on a different complexion, and as might be expected it is access to finance that has come into much sharper focus."
To better help overview market conditions Shane suggests that it is helpful to look at markets across three main sectors, all of which will be familiar.
“I think that it is both helpful and necessary to look at the market for new sites as they fit into three distinctive zones. While they will have common factors in any major metropolitan market, for ease of discussion let’s call the three main markets A, B and C.”
Within this definition suggested by Shane the zones cover: ‘A’ the core CBD, ‘B’ the inner ring of well-established suburbs and our final group ‘C’, which covers the outer ring of suburbs where the majority of broadacre and greenfield sites are located. All three markets have locations suitable for medium-density development but are very different with varied fortunes.
“The CBD in any market always has the highest site costs, and beyond that the entire cost structure implies a major investment in terms of finance, time and marketing, its often seen as the most speculative.
“Then we have the inner ring of suburbs ‘B’ which is the more diverse and flexible of the three markets and in the case of Melbourne, because of Melbourne’s grid layout, it’s a rich source of sites.
“Finally we have the outer ring locations ‘C’, which includes greenfield sites, some locations are self-contained medium-density sites, which are usually in the more established areas while other are a part of a master-planned community estate. This is a market dominated by individual homes and is very cost driven, price and supply sensitive but still there are valuable medium-density sites.
"Demand for the outer ring this market has softened the most over the past 24 months and in particular over the past 12 months, partly as direct result of many more new homes coming into play as supply across Melbourne has increased."
 
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The layers of interconnection
The outer-ring sites are the most price driven and so rely to a greater extent upon the growth of house prices and sales rates, in particular across the inner-ring suburbs and across the wider housing market generally but also to a lesser extent in the CBD. And so in this way the outer limits of the market reflect the wider health of the economy and so to varied degrees all of the markets are interrelated.
“If the economy is weak then people will tend to stay put in established homes, and at the pointy end of rental demand the CBD rental market can be impacted if unemployment becomes an issue, which then has a flow onto investor take-up.
“Also in the outer ring I have to acknowledge that the demand for sites is limited to some degree because this is also an area where medium density is a secondary market for buyers. Still for some budget driven buyers a townhouse in these areas is an appealing option, and profitable for the developer looking to defray site costs."
While the demand for outer ring sites has declined over the past two years, it has been the more stable buyer profiles for end-product in the CBD and inner-ring locations that has helped to create continued interest in sites.
“CBD and inner-ring development sites offer diverse locations and infill sites in particular have many positive traits. And that includes access to existing infrastructure that can be very diverse with a depth of social appeal, Footscray in Melbourne is an example I mention now and will return to later."
The pressure of finance a important influence
Shane rightly points out the reality that some or indeed most banks are now applying pressure when dealing with their development clients. But Shane also highlights that there have not been very many forced sales of development sites and prices for end product have been stable within areas of logical and typical development supply.
“The role of finance post GFC is now more magnified, and the IMF has also highlighted how much exposure the 4 major banks have tied up in residential mortgages and so caution is the order of the day.
“When we look at individual greenfield sites they have either been shelved because the capital tied up is less or their raw land values have decreased substantially where the rates of sales have slowed most. There is also usually little speculative building and better return on capital performance, which can be in stark contrast to the level of exposure associated with a medium or high density project.
“However, despite the financial pressures demand is currently strongest across the inner ring suburbs, these same areas are also very popular with end-buyers where owner occupiers dominate demand, but investors are also active. In the CBD there tends to be a bigger percentage of investors and in many cases an off-shore buyer with a long-term view of the market, which then helps underpin the demand for quality development sites.
We did highlight earlier that in the CBD the investment required for a major project outweighed the costs associated with other locations. The dynamics are very different attracting the bulk of high-end professional development, and for other developers this fact then shifts their focus to the inner ring suburbs.
“The inner ring locations are very popular and there is a pool of local developers keen on these sites. And so demand is mixed and there are more players looking for opportunities. While finance is still an issue we are dealing with local developers who know the market and work within a comfortable level of risk and capital/development."
At this stage of our topic it is the various risk profiles that have the most impact on the demand for sites. The risk profiles are also very dynamic across all three markets, still there are many other influences to take into consideration, which we will continue to explore and welcome your thoughts.
 
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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What is the best location for a residential development?

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Congratulations to Rainbow in Melbourne and Davidk9 in Sydney, who have taken out the title of Property Tycoon for spring 2012. A $1,000 Christmas bonus is on its way!
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers had their own competition</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition won $1,000.
Carlyonc and RFM were the best-performing Tycoons in the final round and win the movie tickets.

A huge crowd crammed into the backyard of 14 Jessamine Avenue, <a target="_blank" href="/news">Prahran</a> (pictured below), on Saturday to watch a very quick auction. While there is no doubt there were more people who had an interest in the property, it was left to only two bidders to fight it out.
<img src="/images/stories/2012/12/jessamin.jpg">
The auction consisted of a flurry of $50,000 bids before a $2.4 million bid was referred to the vendor and the property was declared on the market.  After this announcement another burst of bidding took the price to $2.7 million before the property was knocked down.

You can watch the auction highlights on our <a target="_blank" href="https://propertytycoon.cmail5.com/t/r-l-uyljuud-etrwtikd-y/">Facebook</a> page.

It was a different story in Sydney where 1/64 Ocean Street, <a target="_blank" href="/news">Woollahra</a> (pictured below), failed to gain any real traction. Although there were interested parties in the crowd there was no sense of urgency as bidding was lacklustre. The property finally passed in to a legitimate bidder for $1,475,000.
<img src="/images/stories/2012/12/oceanst.jpg">
Since the conclusion of the auction agent Peter Starr has had interest slightly above $1.5 million, and the property is expected to sell in the coming days.

Thanks to everyone who played Property Tycoon this season. We will be back bigger and better in February 2013. Merry Christmas to all.

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Quick Prahran auction and lacklustre bidding in Woollahra round out 2012 auction tipping competition

<html><body>Australian Property Monitors (APM) has released a list of results from 459 auctions in Sydney for the weekend of December 8. The clearance rate was 61.7%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's 459  Sydney auction results show 61.7% clearance rate

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Eight regional centres scattered across NSW, Victora, Queensland and WA – not all of them tied to the mining boom – will present property investors with the best opportunities for capital growth in 2013, according hotspotting.com.au’s Terry Ryder.
In a <a href="/news">Property Observer</a><a href="/news"> webinar</a>, Ryder said the growth seen over 2012 had been “primarily seen in the regions” with some “good growth” in Darwin and “to a lesser extent” in Perth.
“But the places producing double digit growth are all in the regions,” he says.
Regional locations, Ryder says, give investors the opportunity to buy at more affordable prices and have very good prospects for growth, “as long as you pick the right ones”.
According to Ryder, these are the eight regional locations investors should take a look at:
<a href="/news">Albury </a>/<a href="/news">Wodonga </a>(NSW/Victoria) <img src="/images/stories/2012/12/ryderslide1.jpg">
 
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<a href="/news">Dubbo </a>(NSW)
<img src="/images/stories/2012/12/ryderslide2.jpg">
 
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<a href="/news">Toowoomba </a>(Queensland)
<img src="/images/stories/2012/12/ryderslide3.jpg">
 
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<a href="/news">Mount Isa</a> (Queensland)
<img src="/images/stories/2012/12/ryderslide4.jpg">
 
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<a href="/news">Bendigo </a>(Victoria)
 
<img src="/images/stories/2012/12/ryderslide5.jpg">
 
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<a href="/news">Mudgee </a>(NSW)
 
<img src="/images/stories/2012/12/ryderslide6.jpg">
 
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<a href="/news">Mackay </a>(Queensland)
 
<img src="/images/stories/2012/12/ryderslide7.jpg">
 
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<a href="/news">Geraldton </a>(WA)
 
<img src="/images/stories/2012/12/ryderslide9.jpg">
Click on the following pages for details on each location. The entire webinar can be listened on  <a href="/news">Property Observer.</a>
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