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

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

<html><body>
Lend Lease has unveiled two harbourfront apartments in its Barangaroo south precinct.
Lend Lease's Barangaroo South managing director Andrew Wilson lodged the plans yesterday with the NSW government for the initial 159 apartments with the hope the first residents will move in mid-2015.
With every apartment having water views, around $20,000 a square metre is set to be the starting price of the 47 one-bedroom apartments, which will range from about $1 million.
The 100 two- bedroom units will be priced from $2 million. There will be just the 12 three-bedroom apartments.
Barangaroo South will eventually have about 700 apartments, and planning of apartments in the northern part is in flux <a target="_blank" href="https://www.propertyobserver.com.au/news/paul-keating-suggests-barangaroo-s-new-hotel-casino-be-built-over-the-harbour/2012102457427">as the Crown casino hotel plans get resolved</a>.
The apartments are the work of Richard Francis-Jones of FJMT and Andrew Andersons of PTW.
<img src="/images/stories/2012/11/barang2.jpg">
The 10-storey building designed by Francis-Jones (pictured above) includes a striking cloud-shaped design for the apartments and balconies at the north of the 82 apartment building overlooking the new public square and harbour cove.
“Our building was inspired by the character of Sydney Harbour, for example, the expressive, organic form of the northern apartments celebrates and defines the adjacent public square and is reminiscent of the free-forms of clouds and waves that complement our sandstone harbour headlands,” Francis-Jones says. 
The 77-apartment, eight-storey building designed by Andrew Andersons (pictured below) includes substantial rooftop gardens and green plantings.
<img src="/images/stories/2012/11/barang1.jpg">
“The human scale of the building, together with its green roof, solar collectors and dynamic facades create an aesthetic of informality and sustainability. The style is site-specific to create a strong ‘sense of place’,” Andersons says.
"Both buildings draw inspiration from the wharves, which originally jutted out into East Darling Harbour and Walsh Bay,” Wilson says.
</body></html>

jchancellor-FAypfDUnLy

Every apartments has harbour views as Lend Lease unveils two Barangaroo apartment blocks

<html><body>
Across the combined capital cities clearance rate was recorded at 53.7% for the week ending November 18, 2012. The current clearance rate is an increase from the previous week’s clearance rate, which was 50.6%.
Across the capital cities, there were 2,090 auctions held over the past week, which is higher than the previous week. At the same time the previous year, there were just under 1,700 auctions held across the capital cities. The clearance rate over the past week was much higher in comparison with the same time last year, when the clearance rate was recorded at 45.8%.
In Australia’s largest auction market, Melbourne, the clearance rate was recorded at 60.7% over the last week. This is an increase from the previous week’s clearance rate of 55%. Over the past week, there were 831 auctions held in Melbourne and there are 960 auctions scheduled across Melbourne over the next week. In Sydney, auction clearance rates decreased from 52.6% the previous week to 50.9% last week.
It will be a busy auction week over the coming week, with a total of 2,034 auctions scheduled across the capital cities.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/11/rpnov20.gif"><img src="/images/stories/2012/11/rpnov20thumb.gif"></a>
</body></html>

po-LsXgBTHBmX

Auction clearances much higher than a year ago, with another busy auction week ahead: RP Data

<html><body>
Many of the best places to buy fly under the radar scan and are seldom considered by property investors.
They’re usually found in regional Australia, and they don’t attract national limelight because there’s nothing happening that would make a capital city news bulletin and the front page of a metropolitan newspaper.
They just quietly get on with business, expanding steadily and producing that special thing that has eluded most capital cities recently – consistent steady capital growth.
We’d hear about them if someone announced a $1 billion power station or a $2 billion mining venture. Otherwise not.
But I’d rather invest in a centre that has 20 projects worth between $10 million and $100 million each than in a place where there’s one $1 billion project and not much else.
The latter is likely to bask briefly in a short-term spurt of high growth before subsiding – or the one-off project, after a couple of years of announcements and ceremonies, may be scrapped because commodity prices have dropped or someone got nervous about what’s happening in China.
The former is a place more likely to be kind to property investors in the long term. A location with lots of small to medium-sized ventures happening is a centre of growth that’s steady, sensible and sustainable.
One such place is the twin cities of <a href="/news">Albury</a>-<a href="/news">Wodonga</a>, separated by the Murray River and the NSW-Victoria border, but operating very much as a single regional centre of significant proportions. There are no mega projects happening there. No big mining ventures. No billion-dollar infrastructure developments.
There are, however, several dozen ventures of smaller stature, which, when taken together, depict a regional centre that’s on the rise.
The twin border cities are growing steadily and now comprise an urban mass of around 85,000, which produces a gross regional product worth above $5 billion a year.
It has good rail, road and air connections and is a growing centre of agriculture, manufacturing, construction, education and medical services.
A number of businesses which have a national presence are based here, including a major hub for the Australian Taxation Office.
Most of the suburbs that makes up the cities of Albury and Wodonga have median house prices in the $200,000s and median unit prices below $200,000, so affordability is an attraction for investors.
There’s land available for expansion and the twin cities approved 428 new dwellings in the 2011 financial year and 549 dwellings in 2012 financial year.
The many medium-sized enterprises that make this centre worth considering include a $50 million office building for the ATO, $26 million in infrastructure works to kickstart the Junction Place urban renewal project, a $10 million commercial building as HQ for North East Water, the $80 million Mann’s Central Shopping Centre development, a $25 million Quest apartments hotel and a $20 million Pacific Accor Hotel, a $12 million arts centre, an $11 million aquatic centre, a $10 million super clinic, a $65 million cancer centre and a $50 million retirement village.
All that, and plenty more, speaks of a regional centre that’s going places but doing it steadily. Such places usually serve property investors well.
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>.
Terry Ryder will present a free webinar on Thursday, December 6 on where to invest in property in 2013, regions or capital cities. <a target="_blank" href="/news">You can sign up for the webinar here.</a>
</body></html>

terryryder-YECXbqmri2

Why Albury-Wodonga present good opportunities for property investors: Terry Ryder

<html><body>
The Melbourne and Sydney properties featured on Property Observer in this week's auction tipping competition failed to perform at auction. 
There’s a website, <a href="https://www.propertytycoon.com.au/" target="_blank">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 href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
Although a lot of buyers fell in love with "Waterfall Art Deco" at 1 Laurencia Court, <a target="_blank" href="/news">Mont Albert</a> (pictured below), there was something holding the buyers back and the auction failed to gain any traction. 
<img src="/images/stories/2012/11/laurenci.jpg">


Auctioneer Steven Abbot from Jellis Craig was forced to open the auction with two vendor bids before he went inside for the half-time break. When he came back out to restart the auction holding a vendor bid of $1.3 million,  he was offered the one and only live bid $60,000 below that figure. The property was passed in and now has a reserve in excess in $1.4 million. 

You can view the auction highlights on our <a target="_blank" href="https://propertytycoon.createsend1.com/t/r-l-kuituty-ekdeljiy-j/">Facebook</a> page. In Sydney the view is great but unfortunately the $2.5 million price tag was too much for buyers at 15 Shackel Street, <a target="_blank" href="/news">Clovelly</a> (pictured below), and when no one registered an intention to bid the property was withdrawn. 
<img src="/images/stories/2012/11/shackel.jpg">
When you bid at an auction it means you must be in a position to sign an unconditional contract. Although there were a couple of interested parties that turned up on the day none was in a position to sign an unconditional contract.

Daniel Gillespie from Belle Property is confident the property will sell in the coming days.

</body></html>

marmstrong-sd3emVLPPb

Something holding back buyers at Melbourne and Sydney auction tipping properties

<html><body>
Melborne's improving auction clearance rate represents growing consumer confidence, says the Real Estate Institute of Victoria's Robert Larocca.
<iframe src="https://player.vimeo.com/video/53777475" width="470" height="264" frameborder="0" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>
</body></html>

rlarocca-zWhvjay44N

First time in two years with four Melbourne 900-plus auction weekends in a row

<html><body>Australian Property Monitors (APM) has released a list of results from 419 auctions in Sydney for the weekend of November 17. The clearance rate was 62.1%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's 419 Sydney auction results show 62.1% clearance rate

<html><body>
Some would suggest that the global financial crisis (GFC) is over. Some would rightly suggest that today, given many of the remnants that are still unresolved, it is far from over. <a title="Eurozone falls into second recession since 2009" href="https://www.smh.com.au/business/world-business/eurozone-falls-into-second-recession-since-2009-20121116-29fgm" target="_blank">Eurozone falls into second recession since 2009</a>, and then you have that minor issue called the "fiscal cliff". The cliff is a legislated bundle of government spending cuts and tax increases totalling $US608 billion that are due to take effect automatically on January 1.
So I was fascinated this week to read the latest buzzword – SMBC (small to medium business crisis). Alan Kohler wrote on Business Spectator – <a title="What crisis? This crisis" href="https://www.businessspectator.com.au/bs.nsf/Article/Dutch-disease-GFC-economy-SME-NAB-commodities-mini-pd20121114-ZZQR7?opendocument&amp;src=rss" target="_blank">What crisis? This crisis</a> – “Yesterday’s monthly business survey from NAB should be setting off alarm bells in Canberra and through every bank and big company boardroom in the country: Australia’s non-mining businesses are in serious trouble just as the resources boom ends. There will be nothing to take its place.”
“This is a genuine national crisis, but the problem is that it’s going largely undetected and unaddressed because it is not showing in the broad economic data, which is what the Reserve Bank sets interest rates by. That’s why rates were left on hold this month, and may be again in December.”
Personally, I see the end of Australia’s mining boom as a positive as it will allow our business sector to re-calibrate – especially the building sector, which put down tools on building sites to chase work at the then highly profitable mines. <a title="Mining’s double whammy to weigh on growth" href="https://www.smh.com.au/business/the-economy/rba-cuts-growth-forecast-for-third-time-20121109-2928n" target="_blank">Mining’s double whammy to weigh on growth</a> in its statement on monetary policy, the Reserve Bank said weaker spending in the resources sector had prompted it to drop gross domestic product (GDP) growth forecasts for 2013 to below 2.75 percent, compared to 3.0 percent in the August statement.
For a moment forget the mining sector. Australia’s alternate businesses, i.e. those that make up the SMBC, are simply being smashed by one predator – online!
Let’s look at the facts that clearly announce where business is headed – startling data I found on the internet.
<ul>
<li>There are 7 billion people on Earth, with 5.1 billion owning a mobile phone.</li>
<li>It takes 90 minutes for the average person to respond to an email. It takes 90 seconds for the average person to respond to a text message.</li>
<li>91% of all smartphone users have their phone within arm’s reach 24/7.</li>
<li>According to Google’s Our Mobile Planet, smartphone penetration in Australia is now at 52%; however a report by Telsyte predicts that nearly 90% of Australian mobile phone users will have a smartphone as their primary device in 2015.</li>
<li>Nearly 60% of smartphone users access the internet every day on their smartphone and 74% don’t leave home without it.</li>
<li>A massive 94% of smartphone users have researched a product or service on their phones, and only 59% look at first page results when searching on their smartphones.</li>
<li>Interestingly, the three most popular places where people use their smartphones, are home (98%), on the go (85%) and in the office (73%).</li>
</ul>
<img src="/images/stories/2012/11/simeonnov16.jpg" width="470">
 
<hr class="system-pagebreak">
 
<a target="_blank" href="https://www.smh.com.au/business/online-mega-sale-to-lift-local-retail-20121112-298g3" title="Online mega sale to lift local retail">Online mega sale to lift local retail</a> – from Tuesday Australia will experience its first online frenzy when up to 150 retailers will slash their online prices – by between 15% and 90% for 24 hours. Shoppers will have to access <a target="_blank" href="https://clickfrenzy.com.au/" title="clickfrenzy.com.au">clickfrenzy.com.au</a> to access the retailers’ online deals, and this will be the first of many to come. What we are seeing with this is that finally retailers are acknowledging that online is the future.
As for the real estate industry, it will survive. However, the businesses with the dominant online platforms will succeed and those that don’t understand it will perish – like many other industries.
So what is happening with interest rates? Here is a clue.
<img src="/images/stories/2012/11/simeonnov161.jpg" width="470">
Despite the ‘World’s Greatest Treasurer’ believing that the lower the cash rate the better the economy, in 2013 Australia is looking at the lowest cash rates ever seen before. On that analogy, one can reasonably expect that 2013 will be another tough year in real estate.
If this proves to be correct then print advertising (as we know it) will collapse in 2013 and real estate advertising's major spend will be online. Newspapers are not that smart when it comes to real estate advertising expenditure – they need to focus on the little picture not the big picture. Newspaper advertising in the future is merely a point of introduction to online, not vice versa.
<img src="/images/stories/2012/11/simeonnov162.jpg" width="470">
Again the same story in Mosman, where we are seeing a reduction in volume compared with this time last year. This can be easily explained. It is too expensive to move given the trading costs, and when homes are sold for less than replacement value – it is not a coincidence that markets then stagnate. Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" target="_blank">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
</body></html>

robertsimeon-hRNTwJyXkQ

Aussie retailers finally acknowledge online is the future, and real estate must too

<html><body>
Metro Property Development launched the first high-rise residential tower in its $450 million project Central Village in Fortitude Valley, Brisbane, amidst the weekend's stormy weather conditions.
The project has notched up 73 off-the-plan sales since launching worth around $30 million.
Metro, headed by David Devine and Ken Woodley, have the prime site earmarked for 1,000 apartments along with commercial, retail and green space.
The weekend offering was in the first of six towers, the Cambridge, which has 163 apartments in 18 storeys.
The prime 12,845-square-metre corner site – at Water and Brunswick streets – cost $30 million.
<img alt="centralvil" height="627" width="470" src="/images/stories/2012/11/centralvil.jpg">
It is close to the RNA Showgrounds, where Lend Lease is undertaking its $2.9 billion regeneration of the Ekka site. Lend Lease has sold about half of the apartments in its first tower, called The Green.
Investors were driving the current growth of Brisbane prices, according to Australian Property Monitors  senior economist Dr Andrew Wilson.
"Falling interest rates are a driver of increased investor activity," he said underpinned by the highest gross rental yield of all capital cities at 5,4%," Wilson says.
"Construction of new apartments continues to feed investor demand in Brisbane," he says, with 2350 units approved in the inner city over year ending June 2012.
Wilson says the most popular locations for new units are Hamilton,  Newstead Kelvin Grove, Fortitude Valley and South Brisbane.
</body></html>

Cambridge weekend sales by Metro Property in Fortitude Valley

<html><body>
While 500 million people have moved from rural China into modern cities, <a href="https://www.pnas.org/content/early/2012/05/09/1205672109.full.pdf">a recent study</a> by Richard Easterlin, a professor of economics at the University of Southern California and the author of Happiness, Growth and the Life Cycle, shows that there is no evidence that the Chinese people are, on average, any happier.
If anything, according to an article in the <a href="https://www.nytimes.com/2012/09/28/opinion/in-china-growth-outpaces-happiness">New York Times</a>, they are less satisfied than in 1990, and the burden of decreasing satisfaction has fallen hardest on the bottom third of the population in wealth. Satisfaction among Chinese in even the upper third has risen only moderately.
What were the findings? Starting in 1990, as China moved from socialism to a free-market economy, real per-capita consumption and gross domestic product doubled, then doubled again. Most households now have at least one colour TV, and many have refrigerators and washing machines. This was rare before 1990.
In the studies conducted by Easterlin participants were asked about their satisfaction with life as a whole and he was startled to find that Chinese people’s feelings of wellbeing have declined in a period of such momentous improvement in their economic lives.
After all, most of us would assume that a fourfold increase in a people’s material living standard would make them considerably happier.
What happened?
Interestingly, before free-market reforms kicked in, most urban Chinese workers enjoyed what was called an “iron rice bowl”: permanent jobs and an extensive employer-provided safety net, which included subsidised food, housing, healthcare, childcare, pensions and jobs for grown children.
Life satisfaction during this period among urban Chinese, despite their much lower levels of income, was almost as high as in the developed world.
The transition to a more private economy in the 1990s abruptly overturned the iron rice bowl. Hundreds of thousands of Chinese who worked at inefficient and unprofitable state companies were laid off. The loss of jobs also meant the loss of the employer-provided safety net.
Worries about job security are reflected in feelings of financial satisfaction. At the same time more Chinese were reporting that their health deteriorated.
China’s transition has been similar in several respects to the transitions of countries in central and Eastern Europe. In almost all countries, life satisfaction initially declined and then recovered to numbers somewhat below pre-transition levels.
 
<hr class="system-pagebreak">
 
What can we learn from China’s transition? Certainly not that China should return to socialism and the gross inefficiencies of central planning, according to Easterlin.
What it does show is that its market transition has given birth to increasing concerns among everyday Chinese about such matters as finding and holding a job, the availability of reliable and affordable healthcare, and provision for children and the elderly.
To its credit, the Chinese government has taken some steps in recent years to broaden and improve unemployment and pension benefits, as well as to upgrade the health care system. But the safety net remains in need of substantial repair.
My thoughts:
These finding don’t surprise me. While many of us strive for more money thinking it will make us happier, that is rarely the case. 
It took me a number of difficult life lessons to learn that money is important in those areas of life where it is important (such as paying the bills and the school fees) and it’s not at all important in those areas of life where it is not important.
To be truly wealthy you need a lot more than money. 
You need your health, family and friends that love and appreciate you and the time to enjoy life. In my mind you also need spirituality and the ability to give back and contribute to the community to be truly wealthy. 
So owning more properties or having a colour television, washing machine or fancy appliances won’t necessarily make you happier. 
However, I remember someone once telling me that it felt much better to turn up to your troubles in a Mercedes than a Hyundi.
 Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Strategists</a>, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://propertyupdate.com.au/category/property-investment/">Property Investment Update</a> blog. Subscribe today and you'll receive a free video, The Golden Rules of Property Investment.
</body></html>

myardney-DFoGhGbSJX

Why doesn't money buy happiness?

<html><body>
You’ve probably met someone who bought property in a mining town and made a bucket load. 
Years ago when everyone else was turning up their noses at those giant red holes in the ground that were mining towns, some crazy risk-takers bit the bullet and took the gamble.  It wasn’t much of a gamble, really – you could buy property that probably fit within your credit card limit, but at that time everyone figured nothing much could come of it.
Stories abounded of untold success.  It was the first we’d ever heard of a "donga", but apparently these tin sheds skyrocketed and fetched astronomical prices and rental yields.    Everyone wanted a piece of that action, and you had to jump out of the way to avoid the stampede of investors racing to these one-horse towns for their piece of investing gold.
There’s no question that a great return can potentially be made buying property in a mining town, but people make money investing in pork bellies and trading foreign currency, too.  Why don’t we all jump on that bandwagon?  Quite simply, because we know they are high risk, and we are mostly pretty acquainted with our own personal appetite for risk.
So what madness is this that causes property investors, many of them without money to lose and gambling the equity in their own family homes, to completely ignore the risk factor attached to buying in mining towns?
I have a few theories around this.  Firstly, property investors rarely educate themselves before taking the plunge.  Somehow they feel that just because they own a home of their own they are suddenly experts at picking the right property.  It’s a bit like believing that just because you bought Telstra shares you vicariously received a crash course in share investing and are now an expert at it.
 
<hr class="system-pagebreak">
 
Secondly, it seems that when you use someone else’s money (the bank’s) it’s OK to be less careful.  There’s a misplaced confidence that comes when a bank gets a valuation and then agrees to advance you the money – as if it somehow provides its tick of approval for your decision and, well, banks know what they’re doing, right?
Lastly, it’s public enemy number one – the undying belief that property, as long as it’s held long enough, will always go up.  It provides a false sense of security around property buying and removes any common sense many investors might otherwise use when choosing an appropriate investment that sits nicely within their risk profile.
Investing in a town based solely on only one industry carries a risk that  is greater than buying property in an area where the industry is diversified. An event that may initially have little to do with that one industry, such as another GFC, a slowdown in China’s demand for our resources, to name a couple, could eventually develop to create an impact great enough to negatively affect the fortunes of the true risks involved.
Where an entire area extracts its income and employment from that one industry and its related industries (such as retail and hospitality), a closure of that industry can have swift and devastating effects upon those who own property. An investor may go quickly from having a property with a high value and exceptional rental returns to one with no tenant and no buyers.
I’ll never argue that significant gains cannot be made by those who invest in towns such as these, typically mining towns. However, all investing must be undertaken with a sound grasp of the true risks involved. If you are prepared to accept those risks, and you have considered what your position would be if you owned a property that suffered a significant loss, then a mining town may be an excellent investment for you.
Contrarily, if you need a little more surety in your investing, stick with areas of more diversity, which can manage industry closures because there are many other employers to take up the slack.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News.
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News