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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Sentiment in the property industry has dropped in resource states and picked up in the others, according to ANZ’s latest industry confidence survey.
Sentiment fell across the country for the second consecutive quarter from 106 points to 102 for the December quarter, though ACT, Victoria, NSW and Tasmania have improved, according to the latest Property Council of Australia-ANZ property industry confidence survey.
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The survey polled more than 3,500 property and construction professionals from all states and territories for their forward-looking views.
The survey found the biggest mining states suffered the biggest declines, with NT, Queensland and WA posting the largest falls in sentiment.
NT dropped from 151 to 130 on the index, Queensland dropped from 113 to 96 and WA dropped from 136 to 120, with SA also declining slightly.
Queensland was the only state to shift from positive to negative sentiment over the quarter.
Despite falling confidence in resource states, the survey found most respondents did not think the mining boom was over.
Some 68% of respondents did not think the mining boom was over, and 27% believed their business’ performance would be reliant on the mining sector.
 
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The survey found expectations for forward work have increased in Victoria and NSW, with respondents there having more faith in their own states than in the national economy.
The outlook for office space and retail sales in NSW and Victoria has also improved.
The survey found sentiment in the residential market has risen from 93 to 101, the first time in the survey’s five quarter history the sentiment has been positive. Sentiment for residential capital values rose in all states and territories, except for NT. It found housing construction expectations have also risen.
Confidence in funding projects has improved according to the survey, though staffing level expectations have fallen from 104 to 102 on the index.
The office market had the strongest investment potential over the next 12 months according to respondents, followed up residential, industrial, retirement living, shopping centres and then leisure/hotel/tourism property.
Property Council chief executive Peter Verwer says Australia’s largest property markets – NSW and Victoria – showed some encouraging signs.
“Respondents in these states have more faith in their local economy than the national economy, and expectations for forward work have improved,” Verwer says.
“Furthermore, although sentiment for debt funding availability is still negative, the shift in outlook here bodes well for future development.”
ANZ chief economist Warren Hogan says the survey shows a net balance of 13% of respondents believe economic growth will weaken over the next 12 months, up from 9% last quarter.
“We expect economic activity will remain relatively soft in the short term as Australia transitions to slower real income growth, with the terms of trade returning to pre-crisis levels,” Hogan says.
“Nonetheless, the medium term domestic economic outlook remains solid and will continue to be underpinned by strong growth in business investment.”
Hogan says though house prices remain soft in most Australian capital cities, prices have shown tentative signs of reaching a floor following recent RBA rate cuts.
“May and June RBA rate cuts are expected to be further supported by the October rate cut,” Hogan says.
“Residential auction activity has increased and auction clearance rates are at the highest level since 2010.”
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Property industry confidence down in mining boom states but up in non-resource states: PCA-ANZ

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Conditions remained tough for residential home builders in the June quarter, according to the latest ABS data.
New house commencements fell 0.6%, to $5.63 billion, and new other residential building (apartments) rose 22.1% to $3.37 billion with total residential building work declining for the fifth consecutive quarter by 3.1% compared with the 2.5% decline originally reported in August.
Alterations and additions fell 3.9% to $1.64 billion.
Non-residential work commenced fell 22.1%, to $6.76 billion.
Of the major state housing markets, WA recorded the biggest decline in new residential building work done of 13.2% followed by South Australia (-5.7%), Victoria (-5%) and NSW (-3.4%).
The value of residential work done in Queensland rose 7.4% to $1.8 billion.
In aggregate, commencements of new residential buildings rose 6.8% to $9 billion while total new building starts (residential and non-residential) fell 7.5% to $17.4 billion following rise of 4.1% in March 2012.
A pick-up in new residential building activity in NSW and Queensland is anticipated following the doubling of state grants for first-home buyers buying a new property.
The Housing Industry Association (HIA) said the ABS figures show that  in mid 2012 residential construction activity was even weaker than first reported.
HIA chief economist, Harley Dale, said that a fifth consectutive decline in residential building work done in the June 2012 quarter was steeper than initially thought and confirmed an ten year low for new home building activity.
“Interest rate cuts are helpful in hopefully turning around residential construction from the parlous state evident in mid 2012. However, the efficacy of easier monetary policy is considerably diluted by the historically high and excessive margin between the official cash rate on the one hand and mortgage and business loan rates on the other,” said Harley Dale. “Federal and state governments need to view today’s update on Australia’s residential construction industry as a signal they are failing to adequately invest in and reform new housing supply.
“Today’s update makes a mockery of recent scuttlebutt suggesting negative gearing arrangements need to be diluted or removed," says Dale.
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New home building flat in June quarter: ABS

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A local investor has acquired the warehouse premises of Classic Picture Framers in Clayton for $515,000, equating to yield of around 7%, in a private sale.
<img src="/images/stories/2012/10/classicframers.jpg">
The price is exclusive of GST.
Classic Picture Framers has a long-term lease on the property, which is situated at 49 Sarton Road in Melbourne's outer south-east.
It was marketed and sold by Ryan Amler of Ray White Commercial Oakleigh, who said he fielded over 25 enquiries about the property before completing the sale to the local investor.
RP Data records show the warehouse took just 32 days to sell, having been marketed at $540,000 plus GST.
 
“The property currently returns approximately $36,000 per annum, plus GST and outgoings, so the fact it had a long-established tenancy agreement that delivers a consistent and healthy yield meant interest would be high," says Amler.
The warehouse measures 450 square metres with a total land area of approximately 712 square metres.
“The size of the complex is advantageous, and the on-site parking and terrific street frontage to busy Sarton Road make it a prime location for a number of commercial uses,” says Amler.
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Investor picks up outer-Melbourne warehouse for $515,000 on 7% yield

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A Singapore developer has been called “a bit cheeky” and "a little bit arrogant" by Melbourne lord mayor Robert Doyle for selling apartments in proposed CBD skyscraper Melbourne Tower to Asian investors, despite not yet receiving planning approval from Victorian Planning Minister Matthew Guy.
CEL Australia, a subsidiary of Singapore-based developer Chip Eng Seng Corporation, is still awaiting a permit to build the 68-storey, 220-metre tower on the corner of Queen and Bourke streets.
Sydney developers have a greater reputation for the pre-approval sale practice, with half of the <a href="https://www.propertyobserver.com.au/developments/edwin-davey-flour-mill-rises-again-as-harbour-mill-as-investors-rush-to-secure-stamp-duty-exempted-units/2012052954887" target="_blank">apartments in the Ceerose's Harbour Mill </a>selling ahead of an expected approval in May. But NSW has a staged development process, and developers have pre-sold apartments with a fair degree of confidence of having the project approved.
Observers have noted that a 68-storey tower in the heart of the Melbourne CBD is another matter entirely.
The planning permit for the Melbourne Tower application features 581 apartments, 12 storeys of office space as well as retail and food services on the lower levels.
The skyscraper has been designed by local architects Elenberg Fraser, featuring thin undulating glass construction and would be just shorter than the iconic blue glass Rialto Tower, which rises to 250 metres at the Southern Cross station end of Collins Steet. The Eureka Tower on South Bank is Melbourne's tallest tower, rising to 297 metres.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/melbournetower1.jpg">
According to Fairfax, the apartments in the building are being “heavily marketed to Asian investors, particularly a newly wealthy generation of Chinese entrepreneurs and business people”.
The application for Melbourne Tower was submitted on March 29 and is currently listed as “under assessment”.
The site at 150 Queen Street currently houses the 1960s-built 14-level office building known as the Prudential Building, which was purchased for $25.5 million in September last year following a joint Savills and Colliers International campaign. It was sold by Charter Hall, which bought it for $32 million in September 2007, just before the commercial property market peaked.
Its development is opposed by the Melbourne City Council, with Doyle, currently in an election battle, labelling it “too big”.
“In the core of our city we do have tall buildings, but we don’t want canyons, and we need to think about the culture of the city.
“At the footpath level it needs to be something that is active and adds to culture of Melbourne,” he told the Ten Network.
Doyle called the move to sell apartments prior to approval as “not only a bit cheeky” but also "a little bit arrogant" though there is nothing illegal about doing it either in Singapore or Melbourne.
“I understand this is still at [Victorian planning] minister [Matthew Guy’s] desk.
“He has not said yes or no.” If Guy does say yes, Doyle said he could not fight the decision, as it is a ministerial decision.
Guy himself has also labelled the move to sell apartments in Melbourne Tower as "very cheeky".
''And that's very much an understatement – of someone to be selling off the plan to people on a tower that isn't approved," Guy told ABC Radio.
In a statement, CEL Australia said it has been “cooperating with the Department of Planning and Community Development in relation to the development approval for Tower Melbourne”.
CEL Australia corrected an earlier media release, which said it was co-operating directly with the minister's office.
Doyle says high-rise buildings need “human scale”.
“When you get mega-buildings you have to look at the context as a whole."
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Singapore developer 'cheeky' for selling unapproved Melbourne CBD high-rise project off the plan: Lord mayor

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In my recent conversation with Mark Percy, executive manager of residential of Cbus Property, we explored some of the main issues confronting our sector. I was also very pleased to hear Mark express some refreshing thoughts across a range of ongoing topics impacting the housing market, as well as some timely points directly related to project marketing. By way of a preamble we firstly touched upon the positive impact of working for a subsidiary of a wholly owned superannuation fund, including its role in supporting building and construction employment.
These topics included Mark’s views on housing affordability, the impact of local and regional planning laws and how he sees the two points as very much intertwined. We also went on the talk about other diverse subjects such as delivering quality projects and good design alongside the need for Cbus Property to take an active and leading development role, not simply acting as a passive funding partner.
In our conversation we also looked at marketing and the all-pervading role of finance, which now, post-GFC, intrudes into almost any property-related topic, from personal mortgages to corporate and development funding to marketing.
The Cbus Property brand
Cbus Property brand is very visible within the development industry, and it is well worth recounting that the company has been successful, not only in terms of completed projects, but also the investment returns for Cbus Property’s parent, Cbus, the industry superannuation fund for the construction, building, infrastructure and allied industries. According to SuperRatings’ fund crediting rate survey, Cbus generally rates above average.
As a wholly owned subsidiary, Cbus Property works very closely with Cbus. Each company has a separate board. The super fund is one of the best performing in the industry, showing how a development, funding and labour model can and does work. This is a view that is clearly backed by concrete results.
“Helping to create employment, by creating jobs, has many benefits, and I am always reassured by the positive feedback I experience when I visit one of our development projects. The workers on-site obviously appreciate Cbus investing back into the industry through Cbus Property,” says Mark.
Cbus was formed in 1984, and currently has 675,000 members with $19 billion under management, of which $1.5 billion is invested within the activities of Cbus Property.
Given its scope and size, just how does Cbus Property work? As might be expected there is no particular magic formula. Cbus Property looks for development opportunities, both commercial and residential, but as already mentioned, one core objective is to help drive employment in the construction industry.
Cbus Property does not buy passive assets and has been operating as a high-profile developer since 2003 and operates a small and highly skilled management group. Mark brings in excess of 35 years of experience to his role.
Today Cbus Property has a range of projects underway with office projects and four residential developments in Sydney and Melbourne. Most commercial projects are held as long-term investments by Cbus and managed by Cbus Property.
 
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According to Mark, partly as a result of the GFC, with residential projects there is a dynamic change in the availability of capital for new projects. Cbus Property is and has been a major financial partner across a range of projects, not just its own developments. One high-profile example is the recently completed upmarket The Residence project in Sydney. This project, as we will see later, also had some interesting marketing aspects.
The Cbus Property residential portfolio currently includes Sydney’s Dominion, in Darlinghurst, with 108 apartments, and the long-running Breakfast Point, in Sydney’s inner west, which is a joint venture project with Rose Group with over 2,000 homes and is set to run until 2016-17. In Melbourne, construction has recently commenced on Warleigh Grove in Brighton, set to deliver 101 apartments and seven townhouses.
Another key project for Cbus Property is at the Paris end of Melbourne, where in 2013 its next major new project, at 35 Spring Street, will get started. The 42-level building will have 270 apartments. According to Mark, this landmark project will highlight the role of quality design, one of Mark’s pet subjects and a driving factor in how he and the company look at each project they are involved with. We will return to this topic later to flesh out some of Mark’s more detailed thoughts.
I asked Mark about Cbus Property’s plans for the immediate future and where he saw the key opportunities.
“In the immediate future our focus will continue to be Sydney and Melbourne, but we are also keeping an eye on Brisbane. The city, core CBD locations is our home territory, then with residential within 10 to 12 kilometres of the CBD, such as suburb like Brighton and Breakfast Point.
“In Sydney we are currently working on a new CBD commercial opportunity.
“We will limit future projects to just commercial and residential, where our expertise is strongest.
“In terms of our own immediate future beyond the projects already outlined, like our many developers we are part of a wider industry network knocking on doors for new opportunities. We also get a lot of approaches from people looking for development partners and finance. We are part of a major superannuation fund, and that will always attract attention.
“In the post GFC environment, I do think there is real value and opportunities, as already suggested, in our structure. I think it creates harmony across our projects; it creates good returns and pride in their investments for Cbus members. We are very positive but cautious in moving forward in the post GFC environment.”
Moving to reflect upon the wider market, Mark clearly sees housing affordability and market confidence as key points that we will discuss in the next post.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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Cbus Property's Mark Percy in conversation with Colliers International's Peter Chittenden

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The property market has delivered yet another weekend of solid results with clearance rates above 60%, adding to hope that a prolonged period of economic stability and interest rate cuts will continue to send prices higher.
The news follows the release of figures from RP Data that showed prices increased 1.2% in September, while the RBA cut interest rates two weeks ago – and is expected to do so again next month.
And in a big sign of confidence, a key indicator in the <a target="_blank" href="https://www.smartcompany.com.au/economy/052284-rate-cut-does-little-for-consumer-confidence-westpac-survey-reveals">Westpac consumer sentiment survey</a> found more people are optimistic about buying a house, even though overall consumer confidence is still mild.
According to the Real Estate Institute of Victoria, Melbourne recorded a clearance rate of 62%. Although that's down from last week's 62%, it still manages to beat last year's corresponding rate of 54%.
There were 578 auctions reported, and a further 690 are expected next weekend. And in Sydney, results were similar, with Sydney recording 58% on 606 auctions, compared to 60% last week and 55% last year.
Australian Property Monitors economist Andrew Wilson says the results are, once again, encouraging – but the industry isn't getting too hopeful too soon.
"Certainly, the market is building on some reasonable momentum," Wilson told SmartCompany this morning.
"But markets remain mixed, and consumer sentiment is still reasonably fragile. There is no doubt confidence is returning, and we're seeing higher listings, but I think it's still going to take time."
"At the very least, it's holding."
Wilson says the market doesn't need a jolt of confidence, but rather a steady rise in optimism which can only be achieved through stability in international financial markets, and possibly another interest rate cut next month.
"The Reserve Bank is certainly on watch with regard to the international economy and concerns over the strength of the resources boom. We're seeing those underlying drivers right now, but it will just take time."
"There's nothing to get too excited about just yet. But it's starting to build momentum."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Auction clearance rates up on last year

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A solid 62% clearance rate for both Melbourne and Sydney means so far so good for the spring selling season.
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">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
When Jellis Craig auctioneer Richard Earl commenced proceedings at 31 Molesworth Street, Kew (pictured below), he was greeted by a small crowd of uncommitted buyers. Although there was a buyer lurking in the crowd, no one was not prepared to place a bid and after three vendor bids the property was passed in at $1.64 million.
<img src="/images/stories/2012/10/molesworth.jpg">
As is often the case when a property is passed in a buyer declared their interest after the auction. The property was eventually sold just above the agents’ quoted range for $1,705,000.
This result launched Property Observer’s Title Tattle into first place with almost $7 million in property Last season’s winner MC and Cinnamon round out the top three in Melbourne.
Three registered bidders entered the fray for 28 Holland Street, Chatswood (pictured below), but all failed to match the vendors’ expectations. When the bidding stalled a vendor bid of $1.45 million was placed, and this is where the auction came to a close.
<img src="/images/stories/2012/10/hollandst.jpg">
A reserve of $1,475,000 has been set, and agent Peter Chauncy from McGrath Real Estate is confident a sale will be achieved in the coming days.
In Sydney the leading Tycoon Shannon has secured a portfolio worth more than $5 million. Curiost and Joey K are not far behind.
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Melbourne auction tipping competition property sells after auction but Sydney home still on the market

<html><body>Australian Property Monitors (APM) has released a list of results from 283  auctions in Sydney for the weekend of October 13. The clearance rate was 63.6%. <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>

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APM's 283 Sydney auction results show 63.6% clearance rate

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Three properties that were regular features on SQM Research's list of the most discounted homes in Australia have either sold or been withdrawn from the market.
{yoogallery src=[images/stories/2012/08/aug30palm]}
SQM Research director Louis Christopher speculates that the property at 882 Barrenjoey Road, Palm Beach (pictured above), has sold for a significant loss. 
"We can only imagine that the properties that have been sold were purchased for a figure around their last current asking price – a discount of at least 35%," Christopher says.
"In the case of 882 Barrenjoey Road, Palm Beach, if purchased at the last current asking price, this home would have been sold at a loss of at least $140,000 – and that does not even take into account agent's fees or interest accrued on a mortgage. Yikes!" It last traded at $890,000 in 2004 and its last asking price was $750,000 plus.
The other two properties no longer on the list are also in NSW, at 23 The Corso, Gorokan, and 31 North Scenic Road, Forresters Beach.
One of the replacement properties is a expensive Palm Beach beachfront that has had its asking price substantially reduced. It appears at number 4 on the list. The proeprty was once offered as a double block, two home offering, with $15 million plusb hopes. Since then the 1071 sq m grounds, and the two Tuscan-inspired residences have been separated into separate parcels with one of the two houses sold at $7.2 million in mid-2010. The current offering has lingered on the market for some 560 days.
1 <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Rural/NSW/Mooney-Mooney-Creek/?adid=2008808903">451 Old Pacific Highway, Mooney Mooney Creek, NSW, 2083</a>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Forresters-Beach/?adid=2008587390"></a>Days on the market: 595 Initial asking price: $1.55 million Current asking price: $895,000 Reduction: 42%
2
<a target="_blank" href="https://www.realestate.com.au/property-other-tas-taranna-106879142">5756 Arthur Highway, Taranna, Tasmania, 7180</a>
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420"></a>Days on the market: 720 Initial asking price: $499,000 Current asking price: $299,000 Reduction: 40%
3
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420">19 Lychee Drive, Caboolture, Queensland, 4510</a>
Days on the market: 860 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
4
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Palm-Beach/?adid=2008878601">38 Iluka Road, Palm Beach, NSW, 2108</a> (pictured)
Days on the market: 560 Initial asking price: $8 million Current asking price: $5 million Reduction: 38%
 
5
<a target="_parent" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
Days on the market: 622 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37%
6
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretel Two Rocks 6037</a>
Days on the market: 1,008 Initial asking price: $1.1 million Current asking price: $690,000 Reduction: 36%
7
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-white+beach-106479093">588 White Beach Road, White Beach, Tasmania, 7184</a>
Days on the market: 860 Initial asking price: $780,000 Current asking price: $499,000 Reduction: 36%
8
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Magenta/?adid=2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
Days on the market: 1,565 Initial asking price: $700,000 Current asking price: $450,000 Reduction: 36%
9
 
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-armadale-105464925">99 Lowanna Way, Armadale, WA, 6112</a>
Days on the market: 1,277 Initial asking price: $1.85 million Current asking price: $1.2 million Reduction: 35%
10
<a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-the+entrance-106977238">618/ 85 -89 The Entrance Road, The Entrance, NSW 2261</a>
Days on market: 686 Initial asking price: $299,000 Current asking price: $199,000 Reduction: 33%
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
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Cheapie Palm Beach house sells at a loss as new properties debut on most discounted list: SQM Research

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<a title="What if the GFC is permanent?" href="https://www.smh.com.au/business/what-if-the-gfc-is-permanent-20121005-273ch" target="_blank">What if the GFC is permanent?</a> Well, permanent is a tad over the top, although I do agree with IMF chief economist “that the world would not recover from the financial crisis until at least 2018”. When we look at our home front today, we see <a title="Australia’s growth straight jacket" href="https://www.smh.com.au/business/australias-growth-straight-jacket-20121010-27c0m" target="_blank">Australia’s growth straight jacket</a> given the peaking of the mining boom and historically low interest rates, which will result in increased debt in our housing markets. There is no mistaking we are in an entirely new business world where unemployment will increase as businesses engage and employ cheaper alternatives via the internet.
A classic example <a title="service sector crunched as jobs go overseas " href="https://www.smh.com.au/business/service-sector-crunched-as-jobs-go-overseas-20121009-27aet" target="_blank">service sector crunched as jobs go overseas </a>– over the last four years, 80,000 service sector jobs have left our shores. Thanks to the internet, businesses are faced with re-inventing themselves in order to remain competitive. Once upon a time, all a business required was an effective business model; however today, this business model must be paralleled with the online model. Capturing consumers is now based on electronic ingenuity where the focus has moved to electronic media. Our means of communicating are no longer home grown as our society now communicates through imported overseas products – namely Google, Apple and Samsung.
<a title="Australia Post bows to online shopping revolution" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-10-11/post-office-smart-lockers-rolled-out-for-online-purchases/4306946" target="_blank">Australia Post bows to online shopping revolution</a> and is about to open hundreds of 24-hour a day parcel lockers where purchasers will be sent a PIN code that will enable them to retrieve their respective purchases at a time to suit and not have to queue at a Post Office.
Last week, I made comment that Australia should be charging GST on online purchases over $100. <a title="Australian retailers securing more of the online retail pie: CommBank" href="https://www.propertyobserver.com.au/retail/australian-retailers-securing-more-of-online-retail-pie-commbank/2012100857042" target="_blank">Australian retailers securing more of the online retail pie: CommBank</a>. “With the debate over online GST still raging, the CBA points out imposing GST on purchasers above $100 would hit 57% of online transactions, against 4%.”
The <a title="IMF warns recession risk ‘alarmingly high’" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-10-09/imf-lowers-growth-forecast/4302666" target="_blank">IMF warns recession risk ‘alarmingly high’</a>, which is fair comment, considering that world trading has slumped. The volume of goods being shipped around the world increased just 3.2%, after growth of 5.8% last year and 12.6% the previous year. Now we’re talking just businesses and not taking into account the vast majority of governments across the globe that are drowning in debt as they wallow in budget deficits.
A few weeks ago I suggested to Virtual Realty News subscribers that we will be going to the polls in March 2013 because I believe it would be suicide for the Gillard government to call an election after it delivers the 2013 budget fiasco. <a title="Why we need an early election" href="https://www.businessspectator.com.au/bs.nsf/Article/Labor-coalition-Liberal-March-election-MYEFO-pd20121011-YXSSU?OpenDocument&amp;src=mp" target="_blank">Why we need an early election</a> “two rumours have been aired in the past week that one can only hope are true – that the midyear economic and fiscal outlook (MYEFO) will be released earlier than usual, and that a snap election will be held in March of next year. Both these decisions are made by the government, and the ring of truth to the rumours stems from the fact that without these decisions being taken, Labor is likely finished.” Remember where you read it first.
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<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/simeonoct12.gif"><img src="/images/stories/2012/10/simeonoct12thumb.gif"></a>
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-10-04/janda-house-boom/4293828" title="As the mining boom ends, the housing boom begins ">As the mining boom ends, the housing boom begins </a>so in conjunction with a record-low cash rate (which possibly go lower) throw in yet another first-home buyer scheme. On October 1, NSW introduced a package of measures aimed at delivering around $35,000 to first-home buyers of new dwellings priced at or under $550,000. With new construction collapsing in recent years, incentive bribes to purchase new properties are dangerous, when history shows it is much like buying a new car – drive it from the showroom and it depreciates 20%. Australia will have a cash rate of 3% forever.
Now we are seeing <a target="_blank" href="https://www.propertyobserver.com.au/residential/home-buying-sentiment-surges-to-highest-level-in-three-years-westpac-melbourne-institute-index/2012100957068" title="home buying sentiment surges to highest level in three years: Westpac Melbourne Institute Index">home buying sentiment surges to highest level in three years: Westpac Melbourne Institute Index</a>, which also coincides with investors leaving the ‘shock’ market rising <a target="_blank" href="https://www.propertyobserver.com.au/landlords/rising-rental-yields-to-draw-investors-back-into-housing-market-rba-deputy-governor-philip-lowe/2012100957062" title="rental yields to draw investors back to housing.">rental yields to draw investors back to housing.</a> Again on the flip side, we are observing <a target="_blank" href="https://smh.domain.com.au/real-estate-news/record-in-high-house-rents-could-force-families-into-flats-20121010-27dl5" title="record in high house rents could force families into flats">record in high house rents could force families into flats</a>, which is a classic case of governments telling constituents what they are doing internationally. What about <a target="_blank" href="https://www.propertyobserver.com.au/landlords/rent-rises-to-outpace-house-price-growth-over-next-two-years-nab/2012101157090" title="rent rises to outpace house growth over next two years: NAB.">rent rises to outpace house growth over next two years: NAB.</a>
Once upon a time it was all about home grown. Australia has enormous housing issues, yet our leaders are more intent on debating sexism, text messages, speeches and prostitution on social media.
Australia’s politicians are more concerned about re-election and distractions via social media and are not addressing the hard (real) social issues that confront our country.
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Good news for Mosman sellers as stock levels are well down on volumes compared with this time last year. School holidays are now over, and it is somewhat surprising to see a minimal increase in the number of houses on the market in Mosman this week. Unlike many other markets, Mosman appears to have very little interest in selling.
Robert Simeon is a director of <a target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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