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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The Melbourne bayside suburb of Cheltenham is following in the footsteps of the inner-city market, developing a new apartment complex – to be known as No.9 – and a townhouse project named Central Park.
No.9 is the latest $18 million boutique project by Launch Corporation.
No.9 is currently 35% sold.
<img src="/images/stories/2012/11/no9.jpg">
Offering one- and two-bedroom apartments at 9 Chesterville Road, <a href="/news">Cheltenham</a>, it has been designed by Australian Design Group (ADG).
The aims is to achieve a seven-star energy rating.
The 38 apartments have open-plan layouts, plus outdoor terraces and balconies. 
<img src="/images/stories/2012/11/no93.jpg">
Austin Design Associates took the lead in designing the interior with landscaping by Zenith Concepts. 
The one-bedroom apartments with a car park start from $335,000 and a two-bedroom apartment start from $400,000.
Launch Corporation was established in 1999 and won the 2011 HIA Victorian Townhouses/Village Development Award and the BDAV Building Design Awards for a two-unit townhouse located in Fitzroy.
<img src="/images/stories/2012/11/no92.jpg">
 
<hr class="system-pagebreak">
 
The other development - Central Park - is a residential townhouse development centered around Cheltenham’s newest park.
Located at 100 Cavanagh Street, Cheltenham, Central Park (pictured below) offers a range of six different contemporary home styles, all named after flowers.
<img src="/images/stories/cheltcentralpark1.jpg">
The Ivy townhouse is three storeys high with two bedrooms and a modern warehouse-style study on the third floor. Released early November, Ivy is the cheapest townhouse, with a starting price of $499,500.
Jasmine is a two-bedroom, three-storey townhouse with a private courtyard and an open-plan kitchen living and dining area with a starting price of $535,000.
<img src="/images/stories/cheltcentralpark2.jpg">
The two-storey Magnolia starts from $595,000 and has three bedrooms. It includes a private courtyard.
Gardenia has three-bedrooms and starts from $657,500.
Camellia is also two-storeys high and has three-bedrooms but comes with a landscaped backyard and starts from $599,500.
Orchid is the biggest style, offering three bedrooms plus a study, double garage and multiple landscaped outdoor areas but is completely sold out.
Central Park has almost sold 100 townhouses from stages one and two, with 25 remaining. 
Stage three has recently been released.
Property developer R Corporation says that modern families are looking to upgrade from their apartments without the associated price tag of a traditional house.
According to RP Data, the median sale price for a unit in Cheltenham is $430,000, with a 36.9% rise in median price over the past five years.
The median house price is $600,000.
The median asking rent for Cheltenham is $450 with an indicative gross rental yield of 3.9%.
RP Data reported the supply and demand for Cheltenham was 31 people looking per house, with a population of 20,292.
“Due to strong growth in the more traditional and inner-market developments, apartment developments in Cheltenham have become more viable and profitable for developers to do,” says Shane Dargue of Colliers International.
“When the housing and development market was flying along a million miles an hour, there was enough growth in the market to think, maybe we can build high-density apartments in Cheltenham.”
“Buyers now have a choice, where as before with the strong market you didn’t have a choice. Predominately, you only have quarter-block housing.”
Dargue explains that investors who have acquired off-the-plan apartments that have been delivered in Cheltenham are going to find their investment quite safe. Due to the market slowing, Dargue says there is not likely to be any more projects in Cheltenham for a while.
Dargue says it was a “softening in the market” or a “correction in the market”.
“It is a correction the market needs every now and again to re-stabilise and provide a new base for the market to grow from,” Dargue says.
The No.9 display suite is located at 9 Chesterville Road, Cheltenham.
The display suite for Central Park is located at 100 Cavanagh Street, Cheltenham.
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Cheltenham moving towards apartments and townhouses

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Around $6 million is up for grabs in both Melbourne and Sydney so a good week of tipping could propel you up the leaderboard in this week’s auction tipping competition.
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 have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
<img src="/images/stories/2012/11/morangrd.jpg">
Elevated in a block of only six in a blue-chip location, it appears 1/69 Morang Road, <a href="/news">Hawthorn</a>, ticks a lot of boxes for investors and first-home buyers. For this reason the property has attracted good interest during the campaign, with more than 1,800 buyers checking it out online.
It has been refurbished in recent years and is just a short walk to train, tram, shops and cafés. Tim Picken from Kay &amp; Burton will auction the property on Saturday and expects bidding in the low to mid-$500,000 range.
Annika Robins from McGrath Real Estate in Neutral Bay has an 1890s workers cottage at 16 Chuter Street, <a href="/news">McMahons Point</a>, up for grabs. The four-bedroom house only sits on 271 square metres of land but is deceptively large.
<img src="/images/stories/2012/11/chuterst.jpg">
It is located in an ultra-convenient position, just a short stroll to ferries, buses, trains and cafes. The property last came onto the market 14 years ago, when it fetched $562,000. It has been renovated since this sale and is expected to sell above $1.75 milion this time around.
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Auction tipping: Blue-chip locations for Melbourne and Sydney properties

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The chief executive of the Victorian government’s urban renewal and development authority, Places Victoria, has stepped down as one in four jobs have been cut among staff from the organisation.
Sam Sangster resigned after six-and-a-half years with Places Victoria.
Places Victoria replaced the previous development authority VicUrban last year and overseas large scale urban renewal projects such as Docklands, house and land releases across Melbourne and Victoria and other commercial developments such as urban renewal projects in Wodonga and the Officer Town Centre in Cardinia Shire.
Yesterday, Places Victoria announced that a “number of positions would become redundant in response to a downturn in the property development market and a subsequent repositioning and restructuring of the organisation”.
The restructure, which will see full time job numbers cut from188 to 135 by March next year enabling the organisation to “reduce its portfolio of undeveloped land assets and maintain a focus on the identification and development of large precincts along with the identification of urban sites, that have further housing and workplace potential’ .
Sangster will step down early next year having only been appointed CEO in November last year.
“Places Victoria has to balance delivery of services to the urban development sector with meeting the policy objectives of government. The reduction in portfolio, restructure and redundancies are a reflection of the same pressures that the private sector is facing,” said the organisation in a statement.
His resignation follows chairman Peter Clarke stepping down on full pay in August while an ASIC investigation is resolved regarding the collapse of Australian Property Custodian Holdings Ltd, manager of the Prime Retirement and Aged Care Property Trust. Clarke was a director of APCHL. ASIC is investigation allegations that directors breached their duties.
Deputy chairman Ken Fehily is standing in as acting chairman for the duration of the investigation until a resolution is reached.
Places Victoria reported a loss of $18.8 million in its 2011-12 annual report amidst a “challenging economic environment for the property development industry”.
The annual report included property write-downs of $42 million due to the downturn in the market.
 
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Victorian government’s urban development CEO resigns amid job cuts and market downturn

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Private new residential building activity picked up by 0.9% in the third quarter of 2012, following a run of five quarters of declining activity.
Total residential building activity - including renovations - rose by a more modest 0.6% to $11.2 billion as renovation work done fell by 0.2%
Westpac says the September quarter figures mark a turning point with lower interest rates begin to have an impact. “This is the start of an upswing, although the strength of the cycle remains uncertain,” says Westpac.
CommSec economist Savanth Sebastian says the outlook for the residential sector “looks much brighter”.
“Lower interest rates, strong population growth, healthy employment, and pent up housing demand is starting to see the housing sector shake of the shackles and begin a much needed resurgence, says Sebastian.
However, ANZ was less excited about the improvement in residential building activity, which it said was consistent with the improvement that it has witnessed in residential building approvals – a lead indicator for construction work done.
“Nonetheless, activity within this sector remains subdued and while we are expecting residential construction activity to strengthen further going forward, a number of structural impediments are likely to constrain the prospective upturn."
Private renovation work fell for the fourth consecutive quarter, an indication, says Westpac, "that consumers have been relatively cautious over this time”.
Construction work done in the non-residential construction sector declined by 4.5% quarter-on-quarter.
ANZ says ongoing weakness in non-residential building approvals data suggests that a “cyclical upswing in this sector remains some way off”.
Across all sectors, the volume of construction activity picked up by 1.7% over the September quarter to $51.3 billion to be 6.0% higher than a year ago and in line with market expectations with the mining investment boom once again the major source of growth in construction activity.
Westpac says the main downside surprise from its perspective was a “sharper than anticipated pull-back in public construction”.
The second quarter’s previously reported fall of 0.2% in construction work was revised up to a rise of 0.9%.
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ABS quarterly figures indicate start of residential construction upswing: Westpac

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We are living through a period of great volatility. The world’s economies are fragile, and this makes it more important than ever that you have a financial plan to protect yourself. 
Despite the gloom that seems to be perpetually portrayed in the financial press, the truth is that recessionary economic times offer outstanding opportunities to those who are prepared. 
Wealth has not simply been lost in the global financial crisis; it has been transferred, from the financially uneducated to the sophisticated. 
We have had global recessions before, and you can be certain that we will have them again, because economies move in cycles. The facts and the specifics may change, but the patterns are similar. 
The losers in financial crises will continue to be the same: those who try to save their cash (inflation will quickly eat away at the value of savings), the inflexible, people with extravagant spending habits, those approaching retirement with much of their wealth in a managed accumulation fund and, particularly, many of those with a total dependence on a job for income. 
Having all your eggs in one basket – a job – is a potentially dangerous approach to personal finance. 
So who will the winners be? The winners will be those who have the financial education to spot opportunities, and those with multiple income streams. Winners will also include people with moderate spending requirements and those who are prepared to be flexible. 
Winners are generally not dependent on highly taxed salaries to increase their wealth. Stock-market meltdowns offer amazing opportunities to those who are able to time the market. Property investors, too, will take advantage of fear to invest counter-cyclically and will capitalise on the low interest rates that often result from a recession. 
It is important to be in tune with the financial markets. By the time you read about a hot stock or a flying property market in the media, it is probably too late. Besides, the press print an awful lot of doom and gloom as it seems to sell newspapers. If you believed everything you read in the press you would probably never invest at all. 
What is not good enough is to blame the government, your fund manager, or your employer for your financial predicament. You must take responsibility for your own financial health and wellbeing. 
One of the seven Buddhist factors of the path to enlightenment is mindfulness, an awareness of reality and clear understanding. Just as to avoid becoming obese we must be mindful of our diet, to become wealthy and financially free we must apply mindfulness to our finances. The first step is accepting that your financial health is your own responsibility. 
 
<hr class="system-pagebreak">
 
Why most people can’t quit work young and wealthy 
Many people believe that the way in which they will retire will be to build up a lump sum in a superannuation fund that they will withdraw when they are around 65 years of age. 
Hopefully, the amount they have built up will last longer than they live. Some of those who have the option to do so consider downsizing their place of residence or using a reverse mortgage to free up some capital. 
To me, this is a flawed thought process, and a very risky one for obvious reasons. The risk of the cash running out can be mitigated through selecting an appropriate annuity product, whereby actuarial percentages dictate the level of your annual income based upon your life expectancy. 
This mindset shows why most people are unable to be financially free at a young age. The numbers simply don’t stack up. 
If you want to retire at 65 the amount you will need as a lump sum is approximately 13 times (see below) your desired retirement income. Therefore, if you want to retire on $100,000 per annum, a lump sum of $1.3 million should be your goal for age 65. 
But what if you want to finish working full-time younger than that? Well, naturally, your life outside of the full-time workforce will run for a longer course, so the required multiple of your desired annual earnings increases. 
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="170" valign="top">
Age at retirement
</td>
<td width="236" valign="top">
Required multiple of income
</td>
</tr>
<tr>
<td width="170" valign="top">
65
</td>
<td width="236" valign="top">
13
</td>
</tr>
<tr>
<td width="170" valign="top">
60
</td>
<td width="236" valign="top">
15
</td>
</tr>
<tr>
<td width="170" valign="top">
55
</td>
<td width="236" valign="top">
17
</td>
</tr>
<tr>
<td width="170" valign="top">
40
</td>
<td width="236" valign="top">
25
</td>
</tr>
</tbody></table>
 So far, so good, for at least this gives us a target figure. The flaw in this idea, though, soon becomes clear. If you want to quit work entirely at the age of 40 with an annual income of $100,000, you will need a lump sum balance of around $2.5 million. 
This is fine in theory. The problem as I see it is that if you are a person who has the financial capability to build a balance that runs into the millions by age 40, you are highly unlikely to be satisfied with an annual income of $100,000.
This is why I believe that what you really need to achieve financial freedom at a young age is a significant balance of net realisable assets – but also a portfolio of assets that continues to grow in perpetuity.
The asset class which gives you the leverage to power ahead is property – particularly residential investment property.
<img src="/images/stories/2012/12/wargentbook.jpg" style="margin: 5px; float: left;">
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/">Get a Financial Grip – a simple plan for financial freedom.</a>
 
For more on where property fits into your wealth-creation portfolio, sign up for our free webinar on <a target="_blank" href="/news">Thursday, November 29 at 12.30.</a>
 
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How you can retire young through property investment: Pete Wargent

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The combined capital city auction clearance rate was recorded at 54.4 % last week, up from 52.3% the previous week. There were 2,097 auctions held across the capital cities last week. At the same time last year, there were 2,139 auctions held, and the clearance rate was recorded at 47.5%.
Melbourne, Australia’s largest auction market, recorded a preliminary clearance rate of 60.1% last week, up from 58% the previous week and continuing to track more than 5 percentage points above the national average clearance rates. At the same time last year, Melbourne’s auction clearance rate was significantly lower at 52.1%. In Sydney last week, there were 731 auctions held and the clearance rate increased from 50% the previous week to 55.5%. At the same time last year, Sydney’s auction clearance rate was recorded at 50%.
The number of auctions scheduled for the coming week is relatively similar to the last two weeks at 2,071. In the lead-up to the Christmas period where auction volumes decrease, it is expected that each week will record high auction volumes until mid-December.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/11/rpnov27.jpg"><img src="/images/stories/2012/11/rpnov27thumb.jpg"></a>
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High auction volumes likely to continue until mid-December: RP Data

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Christmas has come early to Melbourne this year – the Baillieu government has opened up a Melbourne sack of goodies and granted the promise of a new suburb in the wilderness of Werribee “East”.  In case you think it’s going to end up like one of those other outer-suburban zones, lacking the adequate infrastructure to support the 17,000 new residents, don’t worry!  Planning Minister Matthew Guy has promised 50,000 jobs and around $10 billion worth of investment into providing a “new freeway interchange, residential areas, and industry hubs”.
The idea is to move jobs out of the city – keeping them “local” – and a sterling idea it is.  All agree that we simply can’t keep everything centralised forever.
Families with children are Melbourne’s biggest buying demographic – they need houses (not apartments) gardens, green areas and local schools.  They need community facilities, a local doctor on hand, good public transport systems and nearby shopping centres – and they need it all at an “affordable” price range.  Could Werribee East be an answer, I wonder?
The Victorian government has got a lot on its plate at the moment.  Aside from Werribee East, it is in the process of developing the new Fishermans Bend precinct  – our new “high-rise” metropolis, which Guy assures will be more successful than the soulless <a href="/news">Docklands</a>, which apparently is still only “half completed”.
The initial rush of investors who bought into the Docklands developments when they were spruiked on the open market some 10 or so years ago were left sitting on a pot of negative equity and expired “rental guarantees”.  The suburb still maintains a high vacancy rate (currently 8.3%, according to SQM) and as a suburb lacking in family community facilities (schools, churches, and so forth) it only attracts a narrow demographic of professional couples and office workers, which is one key reason the location lacks “soul”.
The worrying part of Docklands was the way it was initially marketed.
Purchasers bought in buoyed by the promise of a new 220-hectare site made up of: “luxury waterfront living, cafes, restaurants, a state-of-the-art stadium, a high technology park, and many other attractions”.
Financial and property advisers pocketed healthy fees from developers who paid them to push unwitting local and foreign investors into speedy purchases.
It’s not an uncommon practice – many still work under the guise of giving “independent” property investment advice principally marketing off-the-plan and new units – the key difference being, if you’re not paying for the information, someone else is – usually the developer.  Hence why ASIC is currently ringing the <a href="/news">alarm bells</a> over a new rush of property acquisitions as part of self-managed super fund accounts which all but promise to ‘underperform.’
I don’t have to go into the details of why high-rise developments make poor investments – I have written enough in the past to make it abundantly clear.  As the City of Melbourne aptly described on its website back in 2011, most of proposed new blocks are “relatively small one- and two-bedroom apartments largely targeted at the student market and owned by investors”.
And judging from the high vacancy rate, they are doing little to provide affordable accommodation for the home buying or rental demographic.  However, in Guy’s own words, high rise is apparently good for the city, as “taller buildings ... are a symbol of a growing nation, a strong economy, and they do have the ability to define a city".
Of this there is no doubt – however, as with many tall buildings, the lights may be on, but all too often no one is home.
 
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Back to “Werribee East”, and the government states it will use the revenue from land sales to build the promised infrastructure.
No doubt this will be achieved via hefty development overlays that disproportionally inflate the underlying cost of the land for home buyers.  The success of the plan requires attracting a substantial round of investment into the area initially, and if history is the judge, by the time it gets to individual lot sales, it will be done via a range of incentives that will encourage home buyers to relocate buoyed up on promises that read like a holiday brochure of McMansion delights.
There is absolutely nothing wrong with the main thrust to the suburb – designed through a “vision” of residents working close to home with ample accessibility to their local town centre and community services (thereby avoiding a two-plus-hour commute in nose-to-nose traffic on inadequate road networks for an eight-hour slog in Melbourne town).
Nothing wrong at all – except, of course, it’s all been promised before.
In a report earlier this year issues such as respiratory problems, abuse of alcohol, depression and various other mental and physical diseases were highlighted as common problems in poorly designed “fringe” housing estates lacking in community facilities – facilities that were often sketched in on the initial “master plans” but failed to achieve the necessary funding to realise their potential.
Currently our outer-suburban new estates are amongst the fastest-growing suburbs in Australia. Areas such as <a target="_blank" href="/news">Wyndham </a>City and <a target="_blank" href="/news">Whittlesea North</a> in Victoria, along with <a target="_blank" href="/news">Ipswich</a> in Queensland, <a target="_blank" href="/news">Camden</a> in Sydney, and <a target="_blank" href="/news">Wanneroo </a>in Western Australia are just a few of the fringe localities that are all outperforming in the population stakes.
<a target="_blank" href="/news">Point Cook</a>, a suburb of Wyndham, was promised to be a “a thriving neighbourhood ... just 22 kilometres from Melbourne” with “convenient access to established schools, shopping, recreational facilities and public transport.”
However, fast forward to 2012 and Bill Forrest, director of advocacy with the Wyndham City Council, is now reporting ''They [the state government] have not kept up with schools, they have not kept up with arterial roads, more than 50T of Point Cook is more than 400 metres from a bus stop.''
Surely it would be a better investment to fix one suburb’s infrastructure woes before promising the same delights for “Werribee East?”
 
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According to reports, Werribee East will have new bus connections but no rail. Why would they need it? After all, as Matthew Guy comments, the idea is for everyone to have local jobs – so no need to travel into the city.
It will take years – if not decades – to attract significant investment to achieve the local employment dream for 17,000 new residents.
Furthermore, unless you want a gated community of residents without the diversification of young professionals who work in the city, a fast train link directly to Melbourne would be the one ingredient to attract additional demand overnight while the “local” job plan was evolving.
Furthermore, a train link to Melbourne opens up the freedom to attend football matches and experience inner-city day and nightlife and ensures outer-suburban home buyers remain connected to the wider Melbourne community.
Bus doesn’t work – it’s slower than taking the car and not a viable alternative unless it’s got the word “school” written in front of it.
Unfulfilled promises are a frustratingly common feature of politics. You would never get away with it in a business – the concept of which follows the premise of “promise less, deliver more”.
No so with our state governments – how many out there possess old Melways editions full of dotted lines where proposed train lines and roads had been promised?
Some of Melbourne’s non-existent train lines were initially mooted as far back as the 1890s – and following numerous feasibility reports that amount to millions of arguably wasted dollars, we may as well just watch re-runs of Thomas the Tank Engine for a little solace.
Possibility the biggest bone of Melbourne’s contention is lack of a direct rain link to Tullamarine airport, which – if reports in this week’s newspapers are anything to go by – is already planning a $500 million third runway.
However, once again, the proposed “east-west” runway has been ‘dotted’ in the Melways for over 10 years and if/when it does get built, passengers will disembark from the 900 km/h A380 only to be ushered into a queue to catch the local bus into the world’s most liveable city.
Apparently, a direct train link to Tullamarine is currently in the feasibility stage, and a proposed train link Melbourne’s Avalon airport is currently seeking a reported $250 million to reach fruition. Add this to the $30 billion required for Fishermans Bend, the $10 billion to “complete” Docklands, and the $10 billion for our new western “wilderness” capital – coupled with Victoria’s current economic outlook, which is suffering from a fall in construction and the high Aussie dollar – and any vision of thriving new neighbourhoods should probably be more correctly termed pipe dreams.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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New Melbourne suburbs come with big promises, but will the infrastructure eventuate? 

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Melbourne property market steady as two-thirds of properties sold by private treaty: REIV

<html><body>Australian Property Monitors (APM) has released a list of results from 382 auctions in Sydney for the weekend of November 24. The clearance rate was 59.7%. <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 382 Sydney auction results show 59.7% clearance rate

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<img src="/images/stories/2012/11/1.gif">
Have you done enough research and background reading? Reading the get-rich quick stories in investment magazines will give you the impression that what you are contemplating is a sure-fire investment bet, but that is never the full picture. You should read widely and thoroughly about the mining town you’re considering investing in including newspapers, investor forums, the views on the mining boom of economists and government reports.
 
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<img src="/images/stories/2012/11/2.gif">
Do you understand all the forces shaping the town and the region? You need to be aware of government investment plans for the region, including transport and other infrastructure and the timeline for their implementation. The mining boom is set to peak nationally in 2014, but when will it peak in your investment region?
 
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<img src="/images/stories/2012/11/3.gif">
Have you spoken to another investor who has bought in the town? Make sure you find out the experiences of other investors. Learn from their mistakes and pick up their tips.
 
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<img src="/images/stories/2012/11/4.gif">
Have you only listened to the advice of marketeers and spruikers? Getting market insights and advice from someone who is also trying to sell you property in that same market (and earn a commission from it) is not a good idea. Avoid the opinions and suggestions of people with vested interests.
 
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<img src="/images/stories/2012/11/5.gif">
Are there other industries driving the economy of that town? Investing in towns that rely solely on one industry are extremely risky. Consider mining towns that have other industries supporting the economy as well.
 
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<img src="/images/stories/2012/11/6.gif">
Who are you likely tenants going to be? Are they likely to be families or contractors living on their own? This will guide the type of property you invest in.
 
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<img src="/images/stories/2012/11/7.gif">
Are you going to buy a new property or an old one? New properties tend to be more expensive, while older properties tend to have better capital growth potential and are in better locations. Never buy a property just for the tax depreciation benefits. In some towns the only option may be a new property, but be wary of house-and-land packages.
 
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<img src="/images/stories/2012/11/8.gif">
Have you visited the town? It’s worth making the journey out to a remote location to speak to locals, get a sense and flavour of the town and make yourself aware of local factors such as pollution, facilities, schools, transport, etc.
 
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<img src="/images/stories/2012/11/9.gif">
Will you be getting enough of a return to just the risk of your investment? Once you are aware of the risks of investing in a mining location, you should ensure the rental yields will be high enough to compensate. On the flipside, very high yield potentials are rarely sustainable in the long run.
 
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<img src="/images/stories/2012/11/10.gif">
Are there any other better regional options? It’s a good idea to consider other locations nearby that may offer better long-term potential. For example, you might choose to invest in the Whitsundays, which is tipped to be a fly-in-fly-out (FIFO) destination for a place like <a href="/news">Moranbah</a>, rather than Moranbah itself.
 
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<img src="/images/stories/2012/11/11.gif">
Have you considered a more stable city location with ties to mining? You should also weigh up the alternative of investing in city location that has ties to the mining industry, where the risk is lower. For example, north-east Perth is a FIFO hotspot for WA mining regions.
 
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<img src="/images/stories/2012/11/12.gif">
Do you have the financial buffer to sustain your investment if the market dips? You should have the means necessary to keep your investment afloat should the market suffer a short-term downturn when rents could fall, or your property could stand vacant for a period of time. It’s always a good idea to get professional financial advice for any large investment.
 
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<img src="/images/stories/2012/11/13.gif">
Have you thoroughly reviewed all the information you have at hand? Are you taking a gamble or are you making a sensible investment. Don't speculate without wisdom.
For more on investing in mining towns, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-gladstone-investment-keys-to-one-of-the-nations-most-talked-about-hotspots" target="_blank">Gladstone – Investment keys to one of the nation’s most talked-about hotspots</a>
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