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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Sizeable improvement in auction clearance rates in Melbourne and Sydney: REIV

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Property investors should look to get into the market now rather than try and time their purchases to when the market bottoms out, Margaret Lomas told attendees at the weekend’s Melbourne Home Buyer &amp; Property Investor show.
Lomas says the property market currently sits at five o’clock on the property clock, meaning it has yet to reach the bottom of the current cycle.
<img src="/images/stories/2012/10/clock-generic.jpg">
“It’s better to buy at five o’clock, because it’s very hard to time your purchase so you buy at six o’clock. And you don’t want to buy at seven o’clock,” says Lomas, founder of property investor advisory business Destiny and a regular pundit on Sky Business.
With flames flickering on a screen behind her, Lomas then launched into her hotspot list, telling the big crowd that they should be looking at regional markets with strong population growth, and where there a big infrastructure projects in place.
“Some regional centre populations are growing faster than the national average. And there is a growing affluence as well in some of these locations,” she says.
In Victoria, Lomas favours regional centres like Shepparton, Ballarat, Bendigo and Morwell.
She says investors should steer clear of apartments in Melbourne because the market is oversupplied. with prices forecast to fall by around 2%.
<img src="/images/stories/2012/10/lomashot.jpg">
Overall the outlook for Victoria is one of subdued growth over the next 18 months.
 
<hr class="system-pagebreak">
 
The outlook is better for NSW due to a housing shortage in many areas and tightening vacancy rates.
She picks Blacktown on the Sydney fringe as one of her NSW hotspots as well as locations in the Hunter Valley including Branxton, Singleton, Cessnock and Muswellbrook.
In Queensland, Lomas says there is a two-speed housing market due to the mining boom, with some regions benefiting and others not.
She says investors should steer clear of Brisbane apartments – she forecasts a 10% drop in prices over the medium term due to an oversupply of new apartments.
Rather, Lomas says investors should look to places like Toowoomba, which benefits from the mining boom, but is not solely dependent on it.
“Pick towns with a mining influence rather mining towns,” is her credo.
The only mining town she picks as an investment hotspot is Gladstone.
“It has 13 separate mining projects including coal and aluminium – so not dependent on one project,” she says.
Her other picks are Rockhampton, which benefits from the Gladstone “influence”, and Mackay.
Lomas says investors should be wary of WA mining hotspots, unless they have an appetite for risk.
“Mining towns are at risk if local government bodies release more land for development.”
Furthermore, she says mining companies are looking to build their own cheap housing for mine workers, rather than be "held to ransom by private landlords".
Lomas says there are no hotspots in Tasmania.
South Australian hotspots include Port Noarlunga, Port Adelaide, Hackam, Huntfield Heights, Christie Downs and Mitchell Park.
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Plenty of regional hotspots to tempt investors as market hovers at five o’clock on property clock: Margaret Lomas

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It was a cracking start to Property Tycoon this week, with all five properties selling in Melbourne. Some 13 tycoons, including the Property Observer's very own Title Tattle, snared five from five, but the Tycoon of the week and movie tickets go to Dids, with an accuracy of 97.78%.
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.
<img src="/images/stories/2012/09/queenspde.jpg">
At 124 Queens Parade, Fitzroy North (pictured above), the scene was set for a competitive auction after the vendor rejected a pre-auction offer of $1.075 million and agent Rick Daniel was forced to lift the price quote. It proved to be the right move when three bidders contested the auction and the property sold under the hammer for $1,152,000.
The market was not so strong in Sydney with only two out of five properties selling, two passed in and one sold prior. The best-preforming tycoon was Shannon, who secured $2.145 million worth of property.
<img src="/images/stories/2012/09/hereford.jpg">
The auction at 152 Hereford Street, Forest Lodge (pictured above), failed to find a spark, and only one buyer declared an intention to buy the property. Although no sale was achieved on Saturday, agent Mark Tooth from Belle property is confident the property will be sold in the $1.2 million to $1.3 million range early this week.
The stand out result was for the sale of 3/74 Upper Pitt Street, Kirribilli, where four bidders registered pushed the price of the one-bedroom apartment to $686,000. According to RP Data this is the highest price sale of a one-bedder for more than 12 months.
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Auction tipping competition gets cracking start, with all five Melbourne properties sold

<html><body>Australian Property Monitors (APM) has released a list of results from 325  auctions in Sydney for the weekend of October 6. The clearance rate was 63.1%. <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 325 Sydney auction results show 63.1% clearance rate

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Some 1,150 properties are set to go under the hammer on the October 27 weekend, marking Melbourne's first super Saturday since April and the biggest since December 2010.
Melbourne auction listings have been down this year as many owners turned to private sales due to a flat property market.
But the recent rise in clearance rates could signal a turning point, Robert Larocca of the Real Estate Institute of Victoria says. A clearance rate of 66% was recorded on the weekend, compared with 51% for the same weekend last year. 
"There is a strong correlation between clearance rates and confidence levels," he told the audience at the weekend Melbourne Home Buyer and Property Investor Show.
"These two factors are linked so when we see confidence drop so to do clearance rates," he said. "Clearance rates are a forward indicator of what's happening to sale prices – with the clearance rate providing an indication of what's likely to occur a few months later to prices.
"Right now we've seen a start in the rise to clearance rates, and that suggests, if history is any guide, that prices ought grow towards the end of this year and next year.
"That depends very much on the direction of the economy and also what's happening around the word," he advised.
"It's a sign of emerging confidence given the vendors held back in the earlier part of this year ... but we will soon see whether the gradual improvement in clearance rates are repeated and solid," Larocca said.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/reivoct81.gif"><img src="/images/stories/2012/10/reivoct81thumb.gif"></a>
Larocca said there had been little capital growth in the Melbourne market this year.
"The fact that prices haven't gone down this year is good news," he said.
 
<hr class="system-pagebreak">
 
The low sales volumes in Melbourne is apparent in REIV data that shows until the grand final weekend, there had been 18,433 auctions this year, with 11,132 or 60.4% selling under auction conditions.
This compares with the 22,247 auctions held up until the same time last year, when the clearance rate of 60.6% and 13,476 sold.
In 2010, when effective demand was much stronger, there had been 23,820 auctions and a clearance rate of 76.8%.
The volume of sales by auction is down 17% on this time last year and 39% on this time in 2010.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/reivoct8.gif"><img src="/images/stories/2012/10/reivoct8thumb.gif"></a>
 October's opening weekend recorded 540 houses and units go under the hammer in Melbourne, according to the Real Estate Institute of Victoria, with a 60%-plus success rate.
Super Saturdays are the hyperbole for when there are more than 1,000 auctions scheduled for Melbourne and more than 700 in Sydney.
The last super Saturday auction weekend in both Sydney and Melbourne was on the weekend before Easter in March this year.
In the March super Saturday, Melbourne’s estate agents secured a 61% auction success rate, while Sydney’s result was 53.8% clearance rate.
According to Australian Property Monitors, the tally for Sydney's October 27 weekend is about 400.


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jchancellor-FAypfDUnLy

Stand by for spring’s first super Saturday as Melbourne Cup field emerges

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We get the odd frustration from having an auction operate under a different formula from the standard schedule 1 auction (explained below).
A few weeks ago, we were bidding on behalf of a client for the property 74 Falconer Street North Fitzroy (pictured below). Half an hour before the auction, we were made aware that one of the owners of the property were intending to bid at their own auction. The sale situation was a deceased estate.
<img src="/images/stories/2012/09/falconher.jpg">
A number of siblings were the beneficiaries, and one sibling wanted to buy the property from the other siblings. They used an open market strategy, and we ended up being outbid by that sibling at the auction.
It was a disappointing situation. We felt that the entire campaign should have this mentioned in its marketing material rather than being made aware just 30 minutes prior to the auction.
As a guide to these confusing situations, we’ve included below the different types of auctions so buyers can be best informed about these and what they mean.
By law, the estate agent must display the auction rules 30 mins prior to auction. The auction can either be schedule 1, 2, 3, 4 or a schedule 1 with an alternative.
Here is the breakdown:
Schedule 1:
The most common auction in Victoria. A schedule 1 auction allows the agent to place a bid on behalf of the vendor, however no co-owner bidding to take place.
The alternative to schedule 1 is exactly the same listed above with no vendor bidding at all. This is the purest auction possible. However, most auctions will not use this.
Schedule 2:
Where two co-owners own the property, one co-owner may bid for the property, plus the auctioneer may also take a vendor bid on behalf of the owners.
Schedule 3:
The property has two owners or more, and some (but not all) co-owners may bid for the property. The auctioneer may also take vendor bids.
Schedule 4:
Two or more co-owners own the property. All co-owners may bid on the property, however vendor bids cannot be taken by the auctioneer.
This can be a marriage situation were both husband and wife are bidding for their own property together with the open market!
A good tip for property buyers is to always look at the rules of the auction before you intend to bid. Even take a photo with your smartphone to ensure that the auction you are bidding on is a pure auction. Owners bidding on their own property can distort the price paid to unrealistic levels, and you don’t want to be left buying a property at a figure that isn’t market driven.
Paul Osborne is the founder of Melbourne buyers' agency <a target="_blank" href="https://secretagent.com.au/">Secret Agent</a>.
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Make sure you understand the type of auction you are attending

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More than two and a half years after marketing began, sales have picked up steam for luxury Gold Coast development Salacia Waters.
Marketing began for the 131-unit, 13-villa project in January 2010, and thus far there have been 33 sales, about two-thirds of those since July this year.
Julian Sutherland of Ray White says buyers on the Gold Coast are coming out of a "post-GFC hibernation".
“Investors and owner-occupiers alike are attracted by the opportunity to pounce on the value presently on offer at Salacia Waters, where apartments are available from $400,000,” he says.
<img src="/images/stories/2012/09/salacia1.jpg">
Sutherland says the $15,000 Queensland first-home owner construction grant, which replaced the $7,000 first-home owner grant in early September following the announcement of the Queensland budget, has helped spark sales at Salacia Waters.
“This value proposition in such a quality waterfront development combined with a lower interest rate environment and the reinstatement of a stamp duty exemption have galvanised buyers to act,” he says.
Other property commentators have also suggested a recent turnaround in the Gold Coast, with SQM Research director saying the market in the area is “showing signs of bottoming out”.
In February this year Christopher said he agreed with comments made by Sunrise presenter David Koch that the Gold Coast property market was "catastrophic".
<img src="/images/stories/2012/09/salacia2.jpg">
Also last week, Midwood Report author Bill Morris pointed out that the amount of high-rise apartment stock on the Gold Coast had halved in the past two years.
“There should no longer be the perception that Gold Coast high-rise apartments are oversupplied,” Morris said.
<hr class="system-pagebreak">
Salacia Waters units range in size from 97 square metres to 369 square metres and are priced from $399,000, with luxury villas priced from $740,000.
Sutherland says they should appeal to investors as well as owner-occupiers in the area.
“With the city facing a dwindling supply of apartments, particularly in waterfront locations, investors are well positioned for strong income flows," Sutherland says.
<img src="/images/stories/2012/09/salacia3.jpg">
The first stage of the development was finished in October 2010, but planned future stages were put on hold due to poor sales and the struggling Gold Coast market.
Sutherland says developer Lotte Engineering and Construction is hoping the recent upsurge in buyer activity would enable the developer to continue with further stages.
Salacia Waters is in Paradise Point and surrounded on three sides by water. The development includes a 72-berth marina with deepwater access for keen yachties.
Lifestyle amenities in the building include a gymnasium and several swimming pools.
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After slow marketing start, sales picking up at Salacia Waters as Gold Coast market shows signs of life

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Emerging buying interest is again expected from Sydney first-home buyers this weekend for off-the-plan projects, due to the $15,000 government grant available for new home purchases, which kicked off October 1.
However, because many developers were forced to offer incentives in the three-month "vacuum" between its NSW state budget announcement and its October 1 introduction, the initial response has not been as dramatic as might have been anticipated.
The grant is available for first-home buyers buying or building a new home up to a value of $650,000.
In addition, first-home buyers pay no stamp duty on new homes valued up to $550,000, a maximum saving of $20,240.
One project, the Montrose development in North Sydney (pictured below), which features a rooftop cinema, sold 25 apartments off the plan last weekend, six of them to first-home buyers in a pre-launch VIP sale.
The official launch of Montrose will be this weekend.
<img src="/images/stories/2012/09/montrose1.jpg">
Curtis Field, director of project marketing at Colliers International, which is marketing Montrose, tells Property Observer a rooftop cinema is fairly unique for an apartment project in Sydney, but they are more common Melbourne.
He says the cinema was included in the design to appeal to younger couples and singles who are expected to show interest in Montrose and which will “add some vibrancy” to the project.
<img src="/images/stories/2012/09/montros4.jpg">
“It’s set up like a home cinema. Residents or tenants book it through the body corporate. It could be a great place to watch the grand final.”
<img src="/images/stories/2012/09/montrose3.jpg">
Field says inquiries levels have been “really good”, with 25% to 30% of them coming from first-home buyers.
 
<hr class="system-pagebreak">
 
More than half of the 104 apartments in the 10-storey project have been deliberately priced under $650,000.
Studios measuring 40 to 48 square metres are priced from $435,000, with weekly rental potential of about $450 to $500 – a gross yield of about 5.4%.
Prices rise to $920,000 for bigger apartments with better views.
Montrose has been designed by Mayoh Architects and is being developed by Sydney-based Legacy Property led by Princeton University graduate Matthew Hyder and Stewart Nettleton, former NSW state manager for retirement living at Stockland.
Recently completed Legacy projects include the boutique, high-end The Avenue apartment complex in Collaroy on Sydney’s Northern Beaches and the 88 apartment Kantarra project in Lindfield. Legacy has also completed a number of projects in the US.
However, according to David Chittenden, director of residential in Sydney for Colliers International, because developers were forced to offer incentives in the three-month vacuum between the $15,000 grant’s announcement and its commencement (only a $7,000 handout was available up to October 1), the impact has not been as dramatic.
“Every developer tried to prop-up the market in this interim period,” Chittendon tells Property Observer.
“This has watered down the official grants because buyers have been conditioned to expect incentives and discounts.”
In the past, Chittendon says it was a sign of a “desperation 101” if you advertised incentives for a project but it has since become “need 101” because developers needed some first-home buyer interest.
He says the real benefits have gone to second and third home-buyers and some investors, who have been able to access $15,000 incentives and discounts.
“It’s difficult to discriminate just because someone is not a first-home buyer.”
However Chittendon has noticed a pick-up from first-home buyers with more visits to display suites of other projects being marketed by Colliers International aimed at this market segment.
These include La Vista in Kogarah on the Princess Highway, with views across Botany Bay, featuring one, two and three bedroom apartments, with two-bedders priced from $519,000.
Colliers is also marketing the Carleton Estate Apartments in Summer Hill in the inner west, featuring 78 apartments across four buildings, being developed by Nascon with one-bedders starting from $519,000.
Other Sydney developers have noted an increase in first-home buyer inquiries.
 
<hr class="system-pagebreak">
 
A spokesperson for developer Becton tells Property Observer there has been “a significant uplift in first-home buyer enquiries and reservations in the last several weekends" at its Divercity Waterloo project, where one-bedroom apartments are priced under $500,000. Divercity amenties include an outdoor pizzeria, a health club and an outdoor yoga studio.
“Last weekend we took five reservations of which four were first-home buyers. We currently have 10 contracts with first-home buyers awaiting exchange," says the Becton spokesperson.
Mark Mendel, CEO of FindInvestmentProperty.com.au, which promotes new residential projects, says there has been a “surge” in enquiries from first-home buyers since October 1.
“This has increased even more in the first few days of October as FHB look to take advantage before the rush of buyers expected before Christmas,”he says.
“Where we may have had four out of 10 enquires being first home buyers earlier in the year, over the last week this has increased to eight out of 10 buyers.
"September was our biggest month ever because of the additional enquires from first home buyers and it looks like October we'll beat it again," says Mendel.
Adam Sparkes, Frasers Property Australia’s group sales manager, which is building the $2 billion Central Park mixed-use precinct on Broadway in Chippendale in partnership with Sekisui House Australia, says they have fielded a “large volume of inquiry from first-home buyers seeking to take advantage of the new government grant and stamp duties savings on offer for new developments".
“Our agents at both Central Park and Putney Hill have forwarded several new sales advices across varying apartment types with prices ranging from $480,000 through to $650,000.
“We expect the level of inquiry from first time buyers to remain steady over the coming 15 months as the full grant and concessions remain in place.
At The Mark, the third residential tower launched at Central Park, one bedroom suites start from $475,000. Another residential tower in the development, Park Lane, offers one bedroom suites from $495,000.
A spokesperson for Sekisui House, which is developing The Waterfront at Wentworth Point and The Hermitage in south west Sydney, says they are expecting a "significant increase from first-home buyer enquiries".
"Whilst no product is available below $550,000 for maximum stamp duty concessions, we are seeing enquiry for  sub-$650,000 product.
Sekisui House has made some reviews of pricing to ensure a maximum number of units fall below $650,000.
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Sydney first-home buyer interest picking up – but not silver screen-worthy – in wake of government grant

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11/15 Eddys Grove, Bentleigh, Victoria 3204
<img src="/images/stories/2012/09/eddys.jpg" width="470">
This two-bedroom, low-maintenance unit is currently tenanted on a month-to-month lease at $295 per week. Buxton agent Heather Steadman says the identical adjacent unit rents for $350 per week, but without some renovation work unit 11 is unlikely to command much more than $295. It is within walking distance of Centre Road shops, cafes and the train station, which is in zone 1. 
Steadman<a target="_blank" href="https://www.buxton.com.au/"> is marketing the property </a>with price hopes of $380,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 4% at its current rent,  above the gross rental yield for Bentleigh units of 3.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000.
The median unit price in Bentleigh fell 8.6% in the past year but rose 39.5% in the past five years, according to RP Data.
The property will be open for inspection Saturday, October 13 at 10.45am and will go to auction Saturday, October 20 at 12.30pm.
For more information about prices and yields in <a href="/news">Bentleigh, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 4% in Bentleigh

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The number of new Gold Coast apartments available to purchase has halved in the space of two years, according to the August quarter Midwood Report.
There are now just 420 high-rise apartments up for sale (representing two year’s of supply at current low rates of sale), compared with 839 new apartments available for purchase in August 2010.
Click to enlarge
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“There should no longer be the perception that Gold Coast high-rise apartments are oversupplied,” said Midwood Report author Bill Morris.
Midwood records 54 new apartment sales over the August quarter of 2012, double the 26 sales recorded in the May quarter and just above the 52 sold in the February quarter.
The long-term average for the Gold Coast is 300 unconditional sales per quarter.
The August quarter figures excluded Juniper Group's Soul tower, featuring 288 units, of which 92 are still available for sale and Brookfield Multiplex’s Orchid tower in its Hilton project, featuring 224 apartments, of which 25 remain available for purchase. Construction of both these <a href="/news">Surfers Paradise</a> towers is now complete.
Midwood notes that the two developers had refused to report sales “because they are embarrassingly low”.
The top-selling project was Phoenix Apartments on Lakefront Crescent at <a href="/news">Varsity Lakes</a>, which managed 16 off-the-plan sales.
This is a $60 million project featuring 120 apartments being developed by Trilink Developments and De Va Project Marketing.
The project features four lake precinct buildings, three eight-storey buildings and one four-storey building, with stages one and two currently being marketed.
One-bedroom apartments with a car park are being marketed from $339,000, and three-bedroom apartments on the eighth floor with two car parks from $550,000.
Sales over the quarter included a 106-square-metre, three-bedroom apartment that sold for $580,000.
 
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Conditions for investors due not appear to be improving.
According to the Midwood Report, rents on the Gold Coast have hardly changed in the past two years.
The median weekly rent for a one-bedroom flat on the Gold Coast is $290 per week, unchanged from two years ago; rentals for two-bedroom flats have increased from $340 to $350 over the past two years, and median asking rent for three-bedroom houses has increased marginally from $400 to $405 in the past 12 months. Four-bedroom houses rent at $450 per week, compared with $440 two years ago.
Furthermore, the report notes that there has been significant changes in population trends on the Gold Coast and Sunshine Coast, “both of which have experienced a slowing down in population growth rate over the five years ending 2011”.
The Gold Coast population was growing at 6% per annum in 1991, 4.5% in 1996, 3.4% in 2001 and 2.7% in 2006
“On the other hand, Townsville has experienced a higher growth rate over the same period, whilst Cairns has seen steady growth.”
Morris notes that these are “significant trends for property investors”.
“They beg the question “have the Gold Coast and Sunshine Coast lost their growth fundamentals permanently”?
In its October Gold Coast update, LandMark White records 709 new units available on the Gold Coast in high-rise developments currently being marketed, with 527 of these apartments in the "big three" – Soul, Hilton and Niecon's two-tower Oracle project on Broadbeach, which is in the hands of receivers Korda Mentha.
Some 93 of the remaining 182 units are located within SPC Residential's three-tower Southport Central project, where receivers have also been appointed. Tower two is almost sold out, with just 11 out of 262 apartments remaining, according to Midwood.
LandMark White notes there are no new units available priced under $500,000 "and less than 10 units available priced under $750,000 if you then take Southport Central out of the equation". "We also note that certain developers have retained units and placed them into letting pools, thereby reducing the amount of available units even further."
One new project about to commence construction is Kirra’s Pure apartments (33 units over 12 storeys), being developerd by the Pikos Group of Companies, while another project, Jewel in Surfers Paradise, being developed by Chinese developer The Ridong Group is progressing through the approval process
"This comes as good news to the construction industry which has experienced a slump in new project proposals and construction since the completion of the ‘Big Three’," says LandMark White.
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