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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Lifetime earnings, for most Australians, equal between four and six times the value of the equity in their homes.
But while we insure our house, most of us don’t protect our incomes.
We interviewed more than 500 employed people aged 20 to 45, most of them earning between $50,000 and $100,000 per year.
The first thing I noticed? Just 3.1% were unaware of income protection insurance, but only 6% of Australians protect their income.
Interestingly, 31.7% of the respondents didn’t think they had income protection unless it was provided by their super fund.
I like that tax breaks are given to people who source their income protection insurance through their super funds.
However, many members don’t pay much attention to what they are actually getting from their fund: three out of five of the major industry funds don’t have income protection as a default option, so if you’re relying on them to look after you in this respect, you could be out of luck.
Also, funds offering default income protection have strings attached: one of Australia’s largest industry super funds enforces 90-day wait periods before you can draw the income insurance, and it has capped monthly payouts at $850, regardless of how much you earn.
I believe this is a matter that breadwinners should take control of, regardless of the default insurance in their super.
If you haven’t investigated these policies before, I urge you to talk with an insurance broker or financial adviser. You should have a policy that suits a full-time, part-time or self-employed person, and it must be a policy that covers what you need without paying for what is irrelevant.
The cost is also an important factor in relation to income protection. Our research shows 42% thought it was too expensive.
So how much does it cost? It depends on a number of factors, including monthly benefits, age, profession and smoking status.
Here are four scenarios:
<ul>
<li>Finance manager, male, 41, non-smoker, insuring a $5,000 monthly benefit (30-day wait; 12-month benefit). He will pay $39.52 per month.</li>
<li>Nurse manager, female, 35, non-smoker, $4,000 monthly benefit (30-day wait; 12-month benefit). She will pay $41.42 per month (if any “hands on”, it rises to $53.32)</li>
<li>Domestic plumber, male, 29, smoker, $5,000 monthly benefit (30-day wait; 12-month benefit). He will pay $72.21 per month.</li>
<li>Gardener (unqualified), 47, female, non-smoker, $3,000 monthly benefit (30-day wait; 12-month benefit). She will pay $117.56 per month.</li>
</ul>
Remember, you can take income protection insurance in your super, but you can also buy it personally and claim the premiums as a tax deduction. Also, most companies will offer policies that cut off at 60 years old, but many policies are now extended to 70 – so long as you ask, which is why I suggest talking to a professional adviser.
Start by at least asking what you’d do in the event of illness or injury. Be honest to yourself, and then talk to an expert.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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mbouris-tauSvXGAM2

You insure your home, so why not your income?

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Having worked with thousands of property investors over the years, I discovered that successful investors do things in a certain way that helps them become rich while others continue do things differently and, in general, they tend to struggle. 
I’ve come to the conclusion that when you do what most successful investors do, you get to become one of them, and if you don't, you won’t. 
So let’s look at six simple reasons most people will never get rich and how to make sure you do:
 
Reason 1: Most people wait too long to start 
Most people can’t wait to succeed yet they are willing to wait to get started on the road to success. 
Many investors are waiting for everything to be “perfect” before they get going. They wait for the right time in the cycle, the right property, the right economic environment or the right interest rates. All this means they never get going. 
The longer you wait to get started with your investing, the longer it will be before you get the money, success and freedom you want. It takes time to grow real wealth. It takes time for the power of compounding to work its magic.
You need to understand that the timing will never be perfect nor will you ever have all the information you want. You need to develop the confidence to make an investment decision based on knowing enough and realising that you will learn the rest along the way.
 
Reason 2: Fear stops them 
Fear keeps many of us from getting what we want, especially in matters of money. It’s true for me and it’s true for you. 
Be honest with yourself and count the number of times fear has prevented you from taking action and, in the process, cost you a lost financial opportunity.
In the matter of property investment fear holds many investors back. Some fear taking on more debt, others fear failure and some even have a fear of success (will my friends still like me?). 
Successful investors have learned to harness their fears and rather than focus on the negatives, they use fear to force them into positive action. For example, rather than allowing fear of debt to stop them taking on the commitment of buying a property, they use the fear of not moving forward with their investments to motivate them. 
They use the fear of being stuck in their job for the rest of their lives, without the financial independence that they are craving, to motivate them to take on the commitment of an investment property. 
Just like a river, fear can be bridged. The river of fear is only as deep and as wide as you allow it to be. And once you’ve crossed that river of fear and experienced the success on the other side, you usually look back and wonder why you were ever afraid. 
But here’s the catch. The only people who actually realise this are those that have crossed the river and stand on the other side. 
Money and success live on the other side of fear. 
 
<hr class="system-pagebreak">
 
Reason 3: Waiting until they know enough  
The fear of not knowing enough prevents other investors from getting started. 
However, the irony here is that the more you learn, the more you learn that you don't know! Once you start learning some basic investment concepts you suddenly realise there are a whole lot more things about investing or property that you don’t understand. 
That's the paradox of knowledge: the more you learn, the more you learn you don't know. 
The trap is that many investors think that the way to escape this paradox is to learn even more, so they read more books, go to more seminars, listen to CDs and watch DVDs. 
As they learn more they find a whole heap more things they don’t yet know. 
The way out is to recognise that while you don't know it all, and you never will, you do know enough to get started with your investing and you will learn more along the way as you apply your knowledge in the real world, surviving any mistakes and challenges along the way. 
Reason 4: Focusing on linear income instead of passive income 
It is important to realise that not all income is created equal: some streams are linear and some are passive. 
Linear income is what you get from a job. You work for an hour and get paid once for that hour's work, and that's it. If you don’t turn up to work you don’t get paid. 
Passive income is when you work once but you continue to get paid over and over again from work you're no longer doing. The way to become wealthy is having passive income coming in whether you go to work or not.  
Wouldn’t it be nice to be paid hundreds of times for every hour you work? 
That’s what happens to property investors. Initially they work long hours and save up a deposit and then invest it into a property. Now their money starts working for them and keeps giving them sound investment returns “passively” in the form of capital growth and rental returns. Rather than getting another job, wealthy people know they need to send their money out to work for them.
To put it simply: "If you're not making money while you sleep, you'll never become rich." 
 
Reason 5: Not using systems for making money 
A system for making money is something that takes the emotion out of your investment decisions and makes the results more reproducible. 
My preferred system is investing in high-growth property. In particular, I invest in high growth properties in areas that are in the upturn stage of their property cycle. I buy them below replacement cost and then add value through renovations or redevelopment. I never sell these properties. I borrow against the increasing equity in my property portfolio to buy more properties. 
Once you create a proven system for making money, there is no limit to the money you can make.
 
<hr class="system-pagebreak">
 
Reason 6: Not being patient
Warren Buffett once said: “Wealth is the transfer of money from the impatient to the patient.” 
To become a successful property investor requires patience and persistence. You must not only get started, but you must continue on and follow through. 
Residential property is a long-term investment. It’s not a get-rich-quick scheme. 
Yet many investors speculate rather than invest. They look for that “big deal” which will land them a jackpot in a short period of time. In general, these types of deals rarely occur and, if you find one, they are speculative in nature and riskier. 
The problem for many investors is that the successful buy and hold strategy I advocate is boring and others consider it slow. But successful property investment is a long-term affair. 
Many investors look for the latest fad or try finding the next hot spot or speculative growth areas. Other investors consider other types of investments with potentially higher returns. 
When you are tempted to do this remind yourself that real estate has been the number one long-term multimillionaire maker throughout Australia’s history yet most people that speculate in the latest fads have not made much money.
You don’t have to look for the latest fads or the latest speculative growth areas if you create your own capital growth through buying a good property at a fair price, then adding value through refurbishments, renovations or redevelopments. By doing this you are manufacturing your own capital growth.
 
So, it's really quite simple... 
Decide to do these six things that successful property investors do and you are much more likely to become a successful and wealthy property investor. If you don't do them, then like most people, you may never get rich.
Michael Yardney is the director of <a target="_blank" href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a>, a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the<a target="_blank" href="https://propertyupdate.com.au/category/property-investment/"> Property Investment Update blog.</a>
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myardney-DFoGhGbSJX

Six reasons most property investors don't get rich

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<img src="/images/stories/2012/09/1point52m.gif">
The price paid for a freestanding industrial building at Yatala on the northern Gold Coast. The property at 28 Gassman Drive, Yatala, was sold by Karen Seeto of Ray White Commercial Burleigh on behalf of Caledor Pty Ltd. The 2,952-square-metre property was purchased by Rentgrove Pty Ltd and Eurtepe Pty Ltd prior to being listed. The building is located within the Yatala Enterprise Area (YEA) and is surrounded by commercial and industrial strata developments as well as a number of freestanding businesses. Yatala is 37.5 kilometres north-west of Southport’s CBD and 35 kilometres south-west of Brisbane City. 
 
<hr>
 
<img src="/images/stories/2012/09/675k.gif">
The price construction company Solutions Three Pty Ltd has paid for a warehouse/office complex at Hendra in Brisbane’s north.  The property at 4/5 Navigator Place, Hendra, was marketed and sold on behalf of A &amp; M Papoutsis Pty Ltd by Ray White Industrial Milton’s Paul Anderson and Cameron Massie. The 300-square-metre building will be used by Solutions Three as its Queensland headquarters. The two-storey complex was offered for sale as a vacant possession and attracted solid interest. The property is within close proximity to the Brisbane CBD, the Gateway Motorway and Brisbane’s domestic and international airports.
 
<hr>
 
<img src="/images/stories/2012/09/3point98m.gif">
The price paid after auction for industrial land in Croydon. The sale of the 12,814-square-metre freehold site at 13-19 Research Drive to DENSO Automotive Systems Australia was negotiated by David Kalb, Geoff Fookes of Colliers International. The sale price equates to $310 per square metre of land. Both developers and owner-occupiers showed strong interest in both blocks, with the eventual purchaser  a local Croydon owner-occupier, say Kalb and Fookes.
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Commercial hammer prices: Freehold land in Croydon, Melbourne snapped up for $3.98 million

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The “renaissance” in demand for rental accommodation in Perth from workers servicing the mining industry in the state is expected to trigger a recovery in the housing market, according to ANZ’s latest property outlook report.
Mining investment is also expected to boost the already strong Darwin housing market, while the report expresses concerns about the impact of failed mining projects in South Australia on confidence in the state’s housing market.
In the other mining state, Queensland, ANZ expects only those regional property markets directly linked to the mining boom - such as Gladstone - to feel the benefits.
The report, compiled by ANZ economists led by head of property research Paul Braddick, says that the WA housing market has yet to reap the benefits of the mining investment boom, with the weakness in house prices “only recently looked to be easing”.
“In contrast, the Perth rental market is experiencing a renaissance, with strong demand for labour driving an increase in transitory population (including fly-in-fly-out workers) and adding pressure to the existing rental stock.
“Rental vacancy rates have tightened to three-year lows, adding sharp upward pressure to rents.
<img src="/images/stories/2012/09/mininganz.gif">
“The resultant improvement in rental yields should trigger a recovery in the Perth housing market, particularly from first-home buyers and investors, and drive house prices higher in the second half of 2012,” says ANZ.
Its property outlook report also looks favourably on the Northern Territory, calling Darwin the “bright spot in an otherwise sluggish market nationally”, boosted by the initial construction phase of the $34 billion Ichthys LNG project, which it says has driven an “extremely sharp 230% increase in business investment in year-ended terms”
“The ramping up of the Ichthys project will generate significant demand for labour, leading to a pick-up in net overseas and net interstate migration over the next couple of years.”
Despite both South Australia and Queensland having mining exposure, the outlook is less certain for these two states.
“Cancellations and delays of a number of large uncommitted mining and energy projects [in South Australia], including the proposed Olympic Dam expansion and the Clinton project, have weighed on general business confidence and housing market confidence,” says ANZ.
In Queensland, ANZ says conditions in the housing market remain "highly variable across regions, reflecting the diverse economic conditions in the state. Gladstone house prices, for example, have risen a sharp 18% over the past year due to strong population growth as a result of a number of mega-LNG projects that are being constructed in the area.”
"In contrast, the Gold Coast and Sunshine Coast have witnessed further falls in house prices, as a result of sluggish conditions in their local economies. Brisbane house prices have fallen by 5.4% over the past year and remain 12% below their peak."
ANZ expects mining investment to expand to a record $60 billion in 2011 and is projected to more than double in the fiscal year ahead.
“Nonetheless, the fruits of the boom will be spread unevenly across states and sectors, with Western Australia, the Northern Territory and Queensland the major beneficiaries.
“The two-speed nature of the Australian economy will be exacerbated by tightening fiscal policy and continued strength in the Australian dollar, which will maintain competitive pressures on the manufacturing and tourism industries and weigh on retail and financial services.
“Without receiving a direct boost from resource investment, economic activity in south eastern states is expected to slow markedly.”
To find out what the mining boom will mean for property investors and where the investment hotspots are likely to be, sign up for <a href="/news">Property Observer’s free webinar with hotspotting.com.au’s Terry Ryder on Tuesday, October 2 at 12.30pm</a>
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Rental demand 'renaissance' from mine workers to push up Perth property prices: ANZ

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Home buyer confidence is at highest level since the GFC, with one in two Australians saying now is a good time to buy, according to the latest Genworth Homebuyer Confidence Index.
The half-yearly index rose 2.2 points to reach 98.4 — its highest level since 2007 and 8 points above its low of 2008.
On a state-by-state basis Victorians registered the most improvement in sentiment with its index rising 7.7 points from a low of 92.3 in March 2012, overtaking New South Wales and Queensland. South Australia saw a 3.3 percentage point increase in the index, the second highest among the states.
Western Australia had the smallest increase in confidence but held on to its lead, with surveyed Western Australian borrowers being the least likely to have experienced, or to expect, difficulty meeting repayments.
Tasmanians are the least confident about buying a house with a sharp drop from the March survey.
<img src="/images/stories/2012/09/genworthsept26.gif">
The improvement in the overall index was driven by a marked rise in the number of people who say now is a good time buy versus six months ago and improvements in housing affordability.
Nearly half (49%) of 2,000 adults surveyed (both existing home owners and those looking at getting onto the property ladder) believe now is a good time to buy a home compared with 39% who said it was a good time to buy in the March 2012 survey - a new high since Genworth started compiling the Index in 2007. 
On this measure Queenslanders are the most positive with 54% of respondents agreeing now is a good time to buy.
Genworth CEO Ellie Comerford tells Property Observer the key message to take home from the survey is that consumer sentiment is moving the right direction.
“In the face of economic background, regional pressure points, cash rates it’s good to see the index increase to its second highest level ever.
She says Tasmania is the only state to buck the trend with its high rate of unemployment relative to other states the key reason.
The September survey also recorded a drop in mortgage stress  with the proportion of surveyed mortgage holders who experienced difficulty meeting repayments in the last year falling from 22% in March 2012 to 18%.
The proportion of borrowers expecting difficulty meeting repayments in the coming year fell from 22% to 19% over the same period.
Alan Shields, managing director of research firm RFi, which compiled the report on behalf of Genworth, says on both measures of repayment history and expectations, the results are at levels not seen in 18 months.
Shields says a drop in interest rates appears to be a key reason for the fall in mortgage stress in the September survey.
“Only one in four respondents who say they are experiencing mortgage stress said interest rates were a problem, compared to half of respondents in the last survey,” says Shields.
He says a rate cut next week – as many economists are now tipping - will have a further positive impact on home buyer sentiment.
The report also found that home buying sentiment remains high among first-home buyers with more than half (54%) of surveyed first-home buyers (FHBs) believing it is a good time to buy a home – a figure which has more than doubled in the last two years.
However, first-home buyer confidence fell marginally (0.5%) from March 2012, to 98.5, remaining just ahead of the national average of 98.4.
The index is compiled based on five measures:
<ul>
<li>The proportion of monthly income used to service debts</li>
<li>The maximum loan-to-value ratio (LVR) borrowers are comfortable in borrowing</li>
<li>Their repayment history over the last 12 months</li>
<li>Their repayment expectations for the next 12 months</li>
<li>Whether they consider now a good time to buy a home.</li>
</ul>
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Victorians lead home buyer confidence to highest level since 2007: Genworth report

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Property prices in mining towns could fall 25% in 2013 if Australia's terms of trade plummet or the eurozone collapses, according to worst-case scenario forecasts from SQM Research.
Even under a best-case scenario (terms of trade falling but stabilising, 50 basis point rate cuts, Australian dollar at parity), SQM Research forecasts a very mixed outlook for mining towns, with expectations ranging from a 5% fall in property prices to a 7% rise in prices.
“In the case of mining towns, it very much depends upon the individual mining town's base resource,” says SQM Research managing director Louis Christopher
If a mining town has 100% exposure to iron ore and iron ore prices fall, property prices in that town could “take a beating” he says.
“Others mining towns, such as those exposed to precious metals, will do OK.”
Large falls in property prices in mining towns are predicated <a href="https://www.propertyobserver.com.au/residential/australian-house-prices-could-rise-7-in-2013-if-eurozone-holds-together-sqm-research/2012092556806" target="_blank">under two different scenarios</a>, according to SQM’s 2012 Boom and Bust Report.
The first scenario is based on a crash in the terms of trade (the ratio of value of a country’s exports to the value of its imports), with the Australian dollar remaining high and the cash rate cut by just 0.2<a target="_blank" href="https://www.sqmresearch.com.au/">5</a> percentage points.
“Concerns are being raised about Australia’s resources sector, which at present is witnessing turmoil. All major mining companies are in the process of cancelling mining projects and reducing prices to remain competitive in the global market,” says SQM Research in its report.
“Falling terms of trade along with Australia’s heavy reliance on its resources sector could lead to a considerable dent on the economy’s progress going forward, and this would have a direct impact on housing as well.”
Under such a scenario SQM Research forecasts property prices in mining towns to fall by between 15% and 25%.
The second scenario – property prices in mining towns falling between 5% and 25% – is predicated on an unorganised European default and/or a eurozone break-up.
SQM Research points out that this is would be wild-card scenario “and despite current fears, an unlikely scenario”.
“However, if the event were to occur, it is possible that offshore financing would dry up and the RBA would quickly and aggressively cut rates. While there would be many forces at play, it is probable that the Australian dollar would fall substantially. However, it would only provide muted assistance to most sectors due to a sharp decline in total demand,” says the Boom and Bust report.
To find out what the mining boom will mean for property investors and where the investment hotspots are likely to be, sign up for <a href="/news">Property Observer’s free webinar with hotspotting.com.au’s Terry Ryder on Tuesday, October 2 at 12.30pm</a>
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Mining towns at risk of property prices crashing 25%: SQM Research

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The likelihood of selling your Melbourne home at auction is higher on the eastern side of the city than on the west, according to analysis by the Real Estate Institute of Victoria (REIV).
The map (below) shows suburbs in blue where auction clearance rate have been above the Melbourne-wide clearance rate for 2012 and in orange for those that have been below the Melbourne-wide clearance rate for 2012.
<a href="https://www.reiv.com.au/en/Property-Research/Auction-Map.aspx" target="_blank"><img src="/images/stories/2012/09/reivsept26.jpg"></a>
Source: <a href="https://www.reiv.com.au/en/Property-Research/Auction-Map.aspx" target="_blank">REIV</a>
<a href="https://www.reiv.com.au/Home.aspx" target="_blank"></a>Among the poorest-performing auction markets this year are Docklands (32% clearance rate from 25 auctions), Keilor in the north-west of the city (43% clearance rate from 21 auctions) and Maribynong (41% clearance rate from 75 auctions).
Suburbs that are well in the "blue" include Collingwood (81% clearance rate from 58 auctions), Hawthorn (77% clearance rate from 221 auctions) and Kew (67% clearance rate from 130 auctions).
Bucking the eastern suburbs trend, the outlying western suburb of Sunbury has achieved an auction clearance rate of 78% to date from just 23 auctions.
The data includes auctions held up to September 18, 2012, with the <a href="https://www.reiv.com.au/en/Property-Research/Auction-Map.aspx" target="_blank">REIV </a>pointing out that the majority of residential sales in Melbourne are by private sale.
The map shows the clearance rate in suburbs where they have had 20 or more auctions in 2012.
The REIV publishes auctions results on a weekly basis on Saturday nights after 7pm.
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Melbourne’s eastern suburbs having more auction success: REIV

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The combined capital city clearance rates increase significantly over the week, from 52.8% the week prior to 60.3% last week, according to RP Data. Auction volumes also increased, with over 1,700 auctions held over the capital cities, compared with fewer than 1,500 the week prior. Similar increases are seen at this time each year in preparation for a quiet weekend of auctions, with both the AFL and NRL grand final games scheduled for the upcoming weekend.
Both Melbourne and Sydney, Australia’s two largest auction markets, had preliminary auction clearance rates above 60% this week.
There were 741 auctions held in Melbourne over the week, and the clearance rate increased from 55.6% the week prior to 62.5% last week. At the same time last year, there were 753 auctions held across Melbourne and the clearance rate was recorded at 50.2%.
While in Sydney, there were 667 auctions over the week, with clearance rates increasing from 56.7% the week prior to 64.1% last week. At the same time last year, there were 673 auctions held in Sydney over the week and the auction clearance rate was recorded at 50.5%.
Click to enlarge
<a href="https://www.propertyobserver.com.au/images/stories/2012/09/rpsept24.jpg" title="Click to enlarge" rel="shadowbox"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/rpsept24thumb.jpg"></a>
Source: <a href="https://www.myrp.com.au/" target="_blank">RP Data</a>
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RP Data's forthcoming auctions schedule 

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8 Henderson Street, Merrylands, NSW, 2160
<img src="/images/stories/2012/08/henderson.jpg" width="470">
Within walking distance to shops, this two-bedroom house sold at auction for $425,000 to an investor. There were five registered bidders. The tenants have been in residence for 15 years and are paying $425 a week. Laing + Simmons selling agent Jas Singh says it could potentially fetch $10 or $15 more a week but that the vendor was happy to have a stable tenant rather than insist upon market rent. The weatherboard cottage on 525 square metres has high ceilings, a garage and a small study.
Singh gave pre-auction price hopes in the "early to  mid-$400,000s". At its current rent it will secure its buyer a gross rental yield of 5.2%, above the median gross rental yield for Merrylands houses of4.6%, 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 href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The median house price in Merrylands rose 1.1% in the past year and rose 24.7% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Merrylands, see the RP Data suburb page.</a>
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Investor form guide wrap: Yields of 5.2% in Merrylands

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The property market has suffered a difficult year, but recent auction and price results indicate the market is on its way up.
And with economists and analysts alike expecting a rate cut before the end of the year, things are looking good for budding property investors.
Melbourne and Sydney recorded higher than usual auction clearance rates this weekend – both were higher than the corresponding weekends in 2011.
And the most recent daily figures from RP Data, taken yesterday, show prices in the five capital cities have increased 1.99% over the last quarter. In Melbourne specifically, prices have increased by 3.1% and in Sydney by 2.4%.
The only market to record a drop in the last quarter was Brisbane, down by only 0.13%.
The property market in Melbourne never fully takes off until after the AFL grand final, which is being played this coming Saturday. Many auctions have been brought forward, with the city recording 624 auctions on the weekend.
The city reached a clearance rate of 64%, compared to 52% for the same weekend last year.
"In light of the increase in stock, this is quite a healthy result. It continues the trend this spring with the clearance rate being consistently a few points higher than last year," chief executive Enzo Raimondo said in a statement.
"Due to the AFL Grand Final there will only be about 20 auctions held next Saturday, all of which are scheduled for noon or earlier. Due to this very low number a clearance rate will not be published."
The results were similar in Sydney. The city recorded 504 auctions with a clearance rate of 67.3%, compared to 56% both last week and in 2011.
SQM Research managing director Louis Christopher says even when the unreported auctions are taken into account, the clearance rates still improve on last year.
"Definitely the performance on the weekend was reflecting the fact we had a significantly higher number of auctions."
"Even if you take into account the worst case scenario with these unreported auctions, it still means the clearance rates are higher. So it's a fairly strong result, and even when you're taking everything into account."
Economists also expect a rate cut – or two – before Christmas. Christopher says even one would give the early positive signs a much-needed boost.
"We can't read too much into one weekend. But, that said, this is now the fourth or fifth week now where we've had clearance rates higher than this time last year. That's a signal there's a trend there."
"If we see another rate cut before Christmas time that would add more fuel there. But it's looking pretty positive."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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