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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One particular bidder was very keen to secure an Eaglemont home on more than 2,000 square metres this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
An opening bid of $3 million kicked off the auction at 38 Carlsberg Road, Eaglemont (pictured below), but it was the only bid from that bidder. It was left to two other bidders to move the auction closer to the vendor's reserve.
<img src="/images/stories/2012/08/eaglemont.jpg">
One bidder was hell-bent on securing the house on half an acre and threw out a massive final bid of $75,000 to knock out the under-bidder. Sensing the buyer had more money up his sleeve David Oster from Jellis Craig passed the property in at $3.4 million and started some negotiations behind closed doors. The strategy proved to be spot on, as a sold sticker appeared on the board a short time later and contracts were signed at $3.58 million.
<img src="/images/stories/2012/08/powell1.jpg">
The scene was set for a big result at 6 Powell Street, Neutral Bay (pictured above), when nine bidders registered their intention to bid. The vendor was not disappointed as the auction flew past the $2 million reserve and most bidders were knocked out of contention before they even had a chance to put their hands up. In the end only four bidders entered the fray before the property was sold for $2,226,000.
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A big result for Neutral Bay renovator’s delight, and Eaglemont auction sale secured behind closed doors

<html><body>Australian Property Monitors (APM) has released a list of results from 244 auctions in Sydney for the weekend of August 25. The clearance rate was 62.6%. <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>

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APM's 246 Sydney auction results show 62.6% clearance rate

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It’s obviously feel-good, family-friendly marketing, but the brutal reality is those “Sugar Glider Road”, “Wallaby Close” and “Fairy Wren Circuit” street signs are almost certainly memorials for absent friends rather than indicators of cherished co-residents.
As was so disturbingly articulated by wildlife veterinarian Dr Jon Hanger on <a target="_blank" href="https://www.abc.net.au/4corners/stories/2012/08/16/3569231.htm">Four Corners</a> August 20, when we clear bushland the wildlife doesn’t just move on. In almost all cases most of the lizards, mammals, small birds and koalas will die, either immediately during the destruction of their habitat, or eventually due to exposure to predators, lack of food or the sheer stress associated with losing their environment. And this kind of wildlife death is specific to Australia: in other countries, suburban sprawl moves over already-transformed rural landscapes. Here, it often envelopes the surrounding forest.
Although fairly tentative and inconclusive, the Four Corners program did highlight the complexity and inevitability of the impact urbanisation has on biodiversity, with the spotlight understandably focused on the tragically cute koala. The recent federal government listing of the species as “<a target="_blank" href="https://theconversation.edu.au/the-vulnerable-koala-are-we-in-time-to-save-our-national-icon-6757">threatened</a>” in Queensland, New South Wales and the ACT will apparently mean far greater scrutiny of activities that harm koalas or their habitat. The operationalisation of such a process is far from clear, but the cry of “<a target="_blank" href="https://theconversation.edu.au/spinning-green-tape-as-the-climate-changes-6632">yet more green tape</a>” can already be heard from developers and certain state government ministers.
Koalas and people share the same tastes in location, though not lifestyle. In coastal eucalypt woodlands and forest throughout the eastern seaboard, people are scrambling for spanking-new house blocks in vast new estates carved directly from the “vacant” bushland.
In the new suburbs surrounding Port Macquarie, Coffs Harbour, the Gold Coast and the Redlands of south-east Queensland, this is having a predictably catastrophic effect on the local, relatively abundant koala populations. Specialised koala hospitals and centres now operating in these locations all reported large numbers of koalas admitted because of injuries from vehicles, attacks by dogs and a variety of debilitating diseases. In some of these areas, the rate of these admissions has started to wane, principally because the numbers of local koalas have declined significantly.
The best data on koala population trends comes from the “Koala Coast” area of southern Queensland. Here, sizeable tracts of eucalypt forest were set aside for koala conservation in the 1980s (following vehement opposition to plans for new motorways through the areas). As part of the Queensland government’s ongoing monitoring of these koala populations, we now have a depressingly clear picture of a species declining to extirpation. And it’s the expected urban pressures: loss of habitat, cars, dogs and disease.
Each of these factors is being addressed, though in certain places, to a limited extent, and with mixed results. Domestic dog management is being talked about, seemingly seriously, though no one actually expects any real changes there. (Bear in mind that an appallingly high proportion of the koalas translocated from Coomera on the Gold Coast have been killed by <a target="_blank" href="https://www.sunshinecoastdaily.com.au/story/2012/08/09/feral-dogs-foxes-pose-biggest-threats-to-koalas/">apparently “feral” dogs</a>.)
Koalas appear to carry a remarkable cocktail of <a target="_blank" href="https://wildlifewarriors.org.au/research/koalas">diseases and pathogens</a>, often without showing any symptoms. Urban koalas, however, may be more susceptible to these ailments when subjected to the chronic stress of living in human-dominated landscapes. Wildlife disease experts are investigating diseases throughout the distribution of the species. There is hopeful work toward a vaccine for the most prevalent of all koala afflictions, chlamydia. As any of these researchers are quick to admit, however, we shouldn’t expect quick answers to this exceptionally complex picture.
Perhaps unexpectedly, one area showing surprisingly positive signs is reducing road causalities among roaming koalas. Unlike many species of wildlife – which shun roads and retreat further into the bush far from traffic disturbance – koalas are notorious for attempting to cross even major roads in search of favoured feed trees or a potential liaison.
To reduce the risk of koala road-kill, major local authorities and state agencies have been busy constructing specially designed exclusion fences to stop animals reaching the road. However, for koalas now living in an increasingly fragmented landscape of bushland patches often separated by roads, it is critically important that they are able to move from patch to patch safely.
To help koalas safely cross busy roads, Queensland Transport and Main Roads have been working with ecologists to install structures under bridges and in large culverts. But like many animals, koalas are highly reluctant to walk through water. To provide a dry alternative route under the road, a number of box culverts have been retrofitted: broad ledges are attached to the wall of the culvert with platforms leading from the land on either side of the road. Despite significant skepticism and jokes about whether “eucalyptus addicts” are capable of learning to do something no koala has ever needed to do before, the first animals were using the ledges within weeks and have continued to do so.
The enduring issue for urban koalas is, of course, whether people and koalas can actually coexist in the same environment. Depending on your perspective, it can be either a marvelous discovery or a “bloody nuisance” to have a koala visit the tree in your suburban backyard.
Darryl Jones is deputy director of Environmental Futures Centre at <a target="_blank" href="https://theconversation.edu.au/institutions/griffith-university">Griffith University</a>
This article originally appeared on <a target="_blank" href="https://theconversation.edu.au/">The Conversation.</a>
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Koalas and other wildlife often die when property developers move in

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A renovator's delight in Neutral Bay will be looking for a buyer with a new vision for it this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow" style="font-size: 14px;">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Sydney properties going to auction this weekend in round 11 of the competition is <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-neutral+bay-111168251">6 Powell Street, Neutral Bay</a>. 
A tired renovator’s delight awaits the buyer who has the vision to turn it into a prestigious family home.
The big block of land, large rooms with period features and high ceilings and sweeping views of the harbour and skyline are all there. All that needs to be added is a bit of modern cosmetic flare.
If cashflow is a bit of a problem the new owner could always take advantage of the recent addition of a self-contained one-bedroom unit to provide a little extra cash. David Buttel from Raine and Horne is quoting the property at $1.8 million to $2 million.
<img src="/images/stories/2012/08/powell1.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow">Property Tycoon</a>.
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Sydney auction tipping: A tired renovator's delight in Neutral Bay

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An Eaglemont home on more than 2,000 square metres could test the top end of the Melbourne property market when it goes to auction this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a style="font-size: 14px;" rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the properties going to auction this weekend in round 11 of the competition is <a href="https://www.realestate.com.au/property-house-vic-eaglemont-111129675" target="_blank">48 Carlsberg Road, Eaglemont.</a> Liz Walker from Jellis Craig has suggested the buyers will need well over $3 million to secure this unique property.
The luxury home was purchased by the current owners almost 20 years ago, when they paid $430,000, and they have since added significant value to the property.
The property is the perfect entertainer with the option of a glass of wine on the patio, a dip in the pool or a hit of tennis. Best of all after the festivities have ended no one needs to drive home, as the property has five bedrooms and room for six cars.
<img src="/images/stories/2012/08/eaglemont.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow">Property Tycoon</a>.
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Melbourne auction tipping: Half an acre in exclusive Eaglemont

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43 Eloura Diver, Dharruk, NSW, 2770
<img src="/images/stories/2012/08/eloura.jpg">
The current tenants of this three-bedroom house are paying $350 per week, which listing agent Terry Harris of RealEstateOne says is at market rent for the area. The tenants are on a month-to-month lease but are keen to stay on. The brick veneer house is within walking distance of a shopping centre and is close to Chiffley College and Chiffley Primary School.
Harris<a target="_blank" href="https://www.realestateonestmarys.com.au/index.cfm?pagecall=property&amp;propertyID=1962279"> is marketing the property</a> with price hopes of $260,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 7% at its current rent, above the gross rental yield for Dharruk houses of 6.2%, 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.
The median house price in Dharruk  fell 0.2% in the past year but rose 17% in the past five years, according to RP Data.
<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 $4,000 and over five years to be $8,000.
The property will go to auction Saturday, August 25 at noon.
For more information about prices and yields in <a target="_blank" href="/news">Dharruk, see the RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
<hr>
13/30 Kelvinside Road, Noble Park, VIC, 3174
<img src="/images/stories/2012/08/kelvinside.jpg">
Within walking distance of the Noble Park train station, this two-bedroom apartment has recently been renovated and has new paint, carpet, curtains and tiles. It is currently vacant, but listing agent Adrees Ezadyar of Ray White says it could be expected to rent for about $260 per week. 
Ezadyar <a target="_blank" href="https://www.raywhite.com/vic/noble-park/788459/">is marketing the property</a> with price hopes of $190,000 plus, and if it sells for that price it would secure an investor a gross rental yield of 7.1%, well above the gross rental yield for Noble Park units of 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 $3,000 and over five years to be $6,000.
The median unit price in Noble Park fell 6.5% in the past year but rose 41.5% in the past five years, according to RP Data.
The property will go to auction Saturday, August 25 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Noble Park, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 7% in Dharruk

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Yesterday's announcement by BHP to delay and downsize its Olympic Dam expansion plans should be a lesson to all property investors. If you were ever seriously thinking of investing in a location on the back of the anticipated impact that a single major project might have on that property market, then make sure all of project approvals are in place.
The process leading up to the now famous boom that has occurred in Gladstone is an example. Our research on Gladstone was completed approximately three years ago, after various government approvals had been granted for the construction of an initial liquefied natural gas (LNG) plant. Importantly though, we intentionally kept things under wraps and delayed purchasing properties in Gladstone until the formal board approval had been granted to fund the first of Gladstone’s LNG plants. Clients whom we subsequently helped buy investment properties in specific pockets within Gladstone have made approximately $100,000 over the last 2 ½ years.
The unfortunate consequences for many property investment speculators who may have already invested on the expectation that Olympic Dam would be given the green light this year is that a rocky road is ahead.
Government approval for the Olympic Dam expansion was granted late last year. BHP had always advised that its board would not make its final investment decision until December this year. We had a very good look in to the potential property investment opportunities to spin off Olympic Dam on behalf of our clients. Investigation was definitely warranted when the biggest mining company in the world says that it is going to invest $30 billion to dig the biggest hole on the planet.
We’ve felt that the writing has been on the wall for BHP to back out of its original plans. South Australians will be shattered by this. The state’s economy has been in the doldrums for decades. From the premier to the suburban pie maker, the SA public have been waiting with baited breath for a large, good news story.
On the expectation that the Olympic Dam expansion was a fait accompli, and with very few other locations in SA that have high demand for new housing, several development projects have already commenced in towns like Whyalla. In the absence of the extra service contracts that were to support BHP and new job creation the Eyre Peninsula is now likely to be an over-supplied property market with low consumer confidence.
The Olympic Dam scenario should highlight to property investors the risks of getting caught up in all the hoopla and making major financial decisions without the expertise to conduct a comprehensive feasibility.
For what it's worth, we think the expansion will go ahead at some stage. BHP’s decision is primarily due to funding pressures. It requires significant capital to be invested in multiple projects, not just in Australia, and in a climate where it's increasingly difficult to secure funding. The copper, zinc, gold and uranium won't disappear. The opportunities to BHP from of expanding Olympic Dam are too big for it not to proceed.
Olympic Dam isn’t the only project to be put in hold because of funding challenges. While stakeholders such as shareholders, governments, property investors, and the like would prefer to see BHP proceed as scheduled, the silver lining is that deferments of some projects reduces pressure on availability of skilled labour for those projects which are underway. It is also likely to "smooth" out what was an enormous spike in the Australia's project pipeline and spread it over a longer period.
Other than when will the expansion proceed, the biggest questions is where will the biggest impacts on property markets be felt. The consensus appears to be debated over Roxby Downs, Whyalla, or Port Augusta. While we do expect the economy in each of these towns to benefit we are turned off by the Eyre Peninsula’s over-reliance on mining. We believe that Adelaide will be the main beneficiary of Olympic Dam. A majority of workers will operate on a fly-in-fly-out basis, similar to those who commute from Perth to the Pilbara. Adelaide’s economy unfortunately has challenges that even a project as big as Olympic Dam won’t fully address. Adelaide also has a history of being more than capable of supplying adequate housing to meet demand.
Simon Pressley is a buyers' agent for <a href="https://www.propertyology.com.au">Propertyology</a>.
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Rocky road ahead for property investors dependent on Olympic Dam expansion

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Property developer Devine has reported sales of 425 apartments in the first two towers of its $500 million Hamilton Harbour mixed-use development and an overall better outlook for the inner-Brisbane housing market.
Devine reported the sales success at Hamilton Harbour as one of the highlights of its financial year as it reported an underlying profit after tax of $11.1 million but a statutory after tax loss of $12.9 million.
The result was within the prior guidance issued by the company in June.
In its previous annual results Devine reported a net profit after tax of $20.2 million - a 147% increase from the previous year.
Devine managing director and CEO David Keir said the company was “particularly pleased with the progress at Hamilton Harbour".
Taking a wider view, Keir said property and housing markets continued to be “impacted by low consumer confidence, with demand hampered by global and domestic economic uncertainty”.
“Sales levels over the past 12 months were also impacted by the lending practices of banks and the conservative approach taken by valuers and the winding back of government stimulus in our key markets.”
Devine says 90% of total apartments in the two Hamilton Harbour towers have now been settled.
Construction of both towers is now complete with a third tower now under construction.
There are 13 apartments available for purchase in tower one and 31 available in tower two.
Devine says the inner-Brisbane market, the focus of more than 40 apartment projects by a variety of developers, is now stable after a “prolonged period of weakness” with successive quarters of good volume sales.
The Hamilton Harbour precinct located between Racecourse Road and the Brisbane River in Hamilton is a joint venture between Devine and Leighton Properties with one-bedroom apartments starting at $425,000.
Devine says price is continuing to drive the majority of sales with 70% of unconditional sales under $550,000.
The Midwood report recorded 30 sales at Hamilton Harbour in the May quarter with a median price paid per square metre was $6,831 – making it the <a href="https://www.propertyobserver.com.au/residential/brisbane-high-rise-apartment-sales-down-31-in-may-quarter-midwood/2012062755299">second strongest selling inner Brisbane projects over the quarter behind Madison Heights</a>.
Devine expects Tower three settlements to commence prior to December 2012 and contribute to current year earnings with almost 70% of this tower contracted.
Devine says one of the other highlights for the year was development approval being granted for its $1.4 billion master-planned residential community in Gladstone.
Marketing of the community commenced in February 2012 with the first two stages sold out within two months.
Devine expect core markets in Queensland, Victoria and South Australia to start showing improvement throughout the 2013 calendar year as the combined impact of lower interest rates, improved housing affordability and historically low unemployment help to improve sentiment towards residential property.
Devine has a development pipeline of 14,500 lots.
For insights into the inner Brisbane property market, download Property Observer’s free ebook: <a href="http://propertyobserver.com.au/ebooks/free-ebook-the-brisbane-inner-city-market">Brisbane's inner-city urban renewal</a>
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Inner Brisbane apartment market picks up as Devine reports 90% of Hamilton Harbour towers sold out

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How much a local private investor has paid for the Coolum Park Shopping Centre on Queensland’s Sunshine Coast . The sale was negotiated by Peter Tyson and Jon Tyson of Savills Retail Sales at an initial yield of approximately 8.4%. The property was sold by a syndicate managed by Adelaide-based PPI Funds Management (PPI) Constructed in 2004, the Coolum Park Shopping Centre is set on a prominent 1.88-hectare site at South Coolum Road. It features a total floor area of 3,992 square metres, anchored by a 2,800-square-metre Woolworths plus 12 specialty shops   
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How much a Brisbane-based investor has paid at auction for a 291-square-metre modern warehouse/office facility with an established tenant at Maroochydore on Queensland’s Sunshine Coast. The high-bay commercial unit at 2/82 Sugar Road, Maroochydore, was sold by Ray White Commercial Caloundra’s Alan Gray and Len Greedy. There is currently an eight-year lease in place to Signwave Sunshine Coast, with a five year renewal option available.
 
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The price paid by Melbourne-based developer Three Pillars Property Group for a large residential development site at Notting Hill in Melbourne’s south-eastern suburbs via a public tender conducted by Savills Australia. Savills selling agent Nick Peden says the purchaser has plans to redevelop the site for about 70 townhouses. Situated on Normanby Road in the City of Monash, the former Monash Primary School site comprises a vacant 16,610-square-metre land parcel situated within the prized Notting Hill residential precinct. The vendor was the Victorian state government.
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How much a purpose-built warehouse/office facility at Mount St John in Townsville has sold for. The site of the former Nestle cold store at 25 Crocodile Crescent, Mount St John, was sold by Ray White Commercial Townsville co-principals Graeme Russell and Adrian Pascoe on behalf of owners PK Holdings Pty Ltd. The property was sold to Tweed Wholesale Bait Supplies Pty Ltd, a family-owned company. The facility comprised a 107-square-metre office and a 184-square-metre warehouse.
 
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The price paid for an industrial property in Brisbane’s sought-after industrial Golden Triangle picked up by a private syndicator from Sydney. The property located at 71 Stradbroke Street in Heathwood was sold by Troy Whalan and Simon Beirne of Colliers International on behalf of 360 Capital. The 18,240-square-metre property is occupied by two separate modern freestanding office/warehouses of concrete tilt slab construction with a total net lettable area of 5,540 square metres and is fully leased at yield of more than 10%.
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Commercial hammer prices: Sunshine Coast shopping centre sold for $15.7 million

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A Malaysian family has snapped up an inner-city Melbourne commercial property with redevelopment potential.
The five-level building at 11 Dorcas Street, South Melbourne, fetched $14 million.
The building, which is fully leased to IT group Dimension Data, sold through CBRE agents Mark Wizel and Justin Clarkson at an 8.1% yield on the current passing income.
Clarkson says the sale highlighted continued demand for commercial investment property in Victoria.
 “We are seeing strong levels of demand for well-leased and well-located passive investment grade assets in Victoria in the current market, with many groups shying away from assets that have significant vacancy risk or exposure to downward rental pressure,” Clarkson says.
However, Wizel adds the property’s medium-term potential for residential or mixed-use development was attractive for the private Malaysian family, who are securing their first Australian commercial property.
Inner-city Melbourne acquistions from buyers from Malaysia, Singapore and China has topped an estimated $680 million over the past 2 ½ years, Wizel says.
“Demand has remained strong even with the Australian dollar reaching $1.05 in recent times,” Wizel says
“The strong level of interest from Asian purchasers is due to the natural geographic links between Australia and key Asian countries as well as the affinity that many Asian investors have with Australia.”
Earlier this month, Richard Gu and his AXF Group, a subsidiary of the Shanghai family’s development firm, acquired Total House in Melbourne’s Chinatown for $40 million.
It is expected Gu will undertake a major CBD project  at Total House, a retail, car park and office complex. 
It has a 409-bay car park, eight retail tenancies and 4,000 square metres of office space.
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CBRE agents Mark Wizel and Josh Rutman acted for Gu.
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The property was sold by private investors MEK Nominees through Michael Gross of Gross Waddell.
Other sales have included SP Setia Australia’s $30 million purchase of 151-165 Franklin Street, the Fulton Lane residential towers development site, near the Queen Victoria Market.
The open-air 4,340-square-metre car park site, with two street frontages of Franklin and A'Beckett streets, was bought by Malaysia's largest property development company, SP Setia, from businessman Solomon Lew for just over $30 million.
CEL Australia paid $25 million for of 150 Queen Street. Its Singaporean developer Chip Eng Seng proposes a landmark apartment tower that would include 555 apartments that would replace a rundown office building with a 66-level residential tower.
Hengyi Australia bought 199 William Street in early 2011. The purchase of the Australian National Telecommunications Building located in Melbourne’s CBD marked the beginning of Shandong HYI (Group) Co. Ltd’s overseas investment.
Its now marketing the residential apartments through CBRE as The William, designed by Bruce Henderson Architects. Hengyi Australia is part of an international company behind China's $1 billion Weifang City shopping centre. 
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