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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Queensland’s Isaac region, which includes much of the coal-rich Bowen Basin, delivered the strongest capital gains to investors over the past year.
RP Data 12-month figures for the year to May show that Isaac house prices increased by 30.7% over the past year to a median of $572,500.
Over the past five years, Isaac house prices are up a cumulative 71%.
Gladstone was the next best mining region, with annual house price growth of 13.4% to a median of $465,000, followed by Port Hedland in the Pilbara region of WA (up 12.8% to) a median of $850,000.
Port Hedland has the highest median price of all mining towns and also recorded the highest cumulative house price growth as well (119%) over the past five years.
Click to enlarge
<img src="/images/stories/2012/08/rpaug231thumb.gif">
However, not all mining towns showed stellar capital growth over the past 12 months with the Whitsunday region, which is home to the township of Bowen, and Port Pirie in South Australia recording declines in their median selling price of 12% and 8% respectively.
Modest house price growth was recorded for Mount Isa (1.2%), Mackay (2.4%), Kalgoorlie/Boulder (3%) and Whyalla (4.8%).
RP Data’s Cameron Kusher points out that over the past 10 years all regions excluding Musswellbrook (9.7% per annum) and Kalgoorlie/Boulder (9.6% per annum) recorded average annual growth in median selling price exceeding 10% per annum.
“Once again, Isaac is the standout, with median prices increasing at an average annual rate of 32.3%.”
 Click to enlarge
<img src="/images/stories/2012/08/rpaug232thumb.gif">
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Property investors still striking gold in Queensland’s Bowen Basin, but many markets stagnate: RP Data

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Here is a quick list of nine pieces of wisdom to guide your thinking as you seek a property investment. Property Observer has cherry-picked some bright ideas and insights from some long-time property players.
1. Pick gems before they have gotten their shine
John Edwards, the Residex forecaster, says the best investor returns are made when you buy at the right price, in the right place and at the right time.
Edwards stresses investors need to keep in mind that locations that already have a reputation for being a hotspot have most likely passed their invest-by date by the time you actually find out about them in the published hotspots lists. The Residex boss says a current “gem” is just that – current – and the opportunity to maximise returns has passed.
2. Pick investments with an element of scarcity
The WBP Property Group chief Greville Pabst suggests investments ought to have high land value and an element of scarcity. He gives an example of buying an apartment in a period-era block of flats in an established suburb, where there may only be half a dozen apartments built on valuable inner-city land, versus buying an apartment in the high-rise apartment precincts, and obvious building construction hotspots, where you are likely to be the owner of one of 100 similar apartments in the same development.
3. Look for nearby employment opportunities
Investors should look for nearby employment opportunities for tenants and/or owner-occupiers that are easily accessible, says PRDnationwide research director Aaron Maskrey. He says it’s essential for incoming residents to be able to source employment within the local region. Don’t just peruse the property websites, monitor the employment internet sites.
4. Don’t rely too much on population growth data; vacancy rates provide a better guide
An increasing population indicates work opportunities, investment in infrastructure and demand for housing, but according to buyers’ agent Catherine Cashmore, it does not always result in the best long-term capital growth.
Cashmore says it is always important to analyse the reasons behind any surge in population and conduct an assessment on the longevity of the move before committing to a purchase.  The approval of “mooted” residential developments is the first risk that must be evaluated to protect against periods of oversupply of any one type of accommodation, she says. Jobs are transitory and because workers choose only to rent, when the work dries up, the majority don’t hang around.
Cashmore says as a general rule investors should try and seek out those areas where turnover is low, with a good proportion of owner-occupiers to renters and a diverse range of accommodation. The 2011 census gives good insights.
5. Look for locations with good infrastructure
 
Investors should look for locations with good access to public transportation and nearby arterial roads/highways, PRDnationwide research director Aaron Maskrey says. He encourages investors to ask questions like: Is there new or improved transportation infrastructure? Is the area identified for future gentrification by local council? Is there a limited available supply of dwellings to meet current and future demand? What about planned developments in the area?
6. Heavily discounted properties are not always a bargain
At any one time every location across Australia has a significant amount of property stock where the price has been discounted. But just because the price has been reduced doesn’t mean the property is for sale at fair value. The property may still be overpriced.
SQM Research director Louis Christopher says some properties may still be overpriced, even if they have already been discounted by over 30%. Louis Christopher recommends investors disregard asking prices and instead focus on what comparable properties actually sell for to figure out if a property is overpriced, has met the current market or is at under market value.
7. Focus on the property, not the hotspot
You are buying a property, not a whole town or suburb, says Property Observer editor Jonathan Chancellor.
While hotspots provide a guide as to where to look, you should not let them narrow your field of vision. Excellent investment opportunities can appear within markets that are not themselves hotspots, they may even be in decline. The key is to focus on the underlying value of the property itself and its potential for capital growth and rental returns, depending on your investment outlook.
8. Look for signs of the next “Paddington” and trust your intuition
John McGrath, CEO of McGrath Estate Agents, says he does not look too closely at the finer details but instead looks for a feeling or indicators that a suburb is on the move. He looked at Paddington in Sydney many years ago when it was a virtually unwanted location. It proved over a 10 or 15-year period that it was one of the fastest growth suburbs in Australia.
Looking back, McGrath says he saw a suburb close to the city, of medium to high density property, with a lot of people wanting to get in there, from types of buyers that pushed prices up significantly. He recommends looking for the next Paddington in their particular marketplace, which really comes back to having an intuitive sense along with doing your research.
9. Sometimes it’s best to just do nothing
Bear in mind this quote from Warren Buffett: “The trick is when there is nothing to do, do nothing.” Yet many investors get itchy feet and want to do the deal.
There are stages in the property cycle and times in your investment journey when it is best to just sit back and wait for the right opportunities to come along, because wealth is the transfer of money from the impatient to the patient.
For advice on navigating hotspots, download our free eBook: <a href="http://propertyobserver.com.au/ebooks/free-ebook-tools-for-getting-through-the-hotspot-tipping-maze" target="_blank">Tools for Getting Through the Hotspot Maze.</a>
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Nine pieces of wisdom for finding and investing in property hotspots

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Weekly rental returns for Roxby Downs property investors have increased almost 27% over the past 12 months to May 2012, according to figures compiled by RP Data.
The median advertised rent for a house in <a target="_blank" href="/news">Roxby Downs</a> is now $520 a week.
Roxby Downs<a target="_blank" href="https://www.propertyobserver.com.au/hotspots/headwinds-for-roxby-downs-and-other-nearby-mining-towns-as-bhp-s-olympic-dam-expansion-project-cancelled/2012082256180"> is the township closest to the now cancelled BHP Olympic Dam expansion project.</a>
Its population was expected to double to 10,000 people due to investment by BHP in services and accomodation in the small town.
According to RP Data, Roxby Downs annual rental gains to May <a target="_blank" href="/news">were only bettered by the Isaac region in Queensland,</a> which recorded an incredible 88% increase in its median advertised rent to $1,600 per week.
Isaac takes in much of Queensland's Bowen Basin region, which houses one of Australia’s biggest coal reserves.
Second on the list was the well-known mining hotspot of Gladstone, with rents up 44% since May last year to a weekly median of $550.
The seaport South Australian town of Whyalla, which was also expected to benefit from the Olympic Dam expansion, recorded a modest 10.7% increase in weekly rents to $310 per week, according to RP Data.
Click to enlarge
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Slowdown to hit mining boom towns as Roxby Downs rents up 27% over past 12 months: RP Data

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Melbourne property investment adviser Monique Sasson Wakelin has questioned whether property developers are building the right type of new homes while encouraging investors to focus on buying in “blue-chip” areas.
Speaking recently to Hilary Harper on ABC Melbourne radio, Sasson Wakelin agreed there was a need for new housing due to the housing shortage identified by the ABS among others. Sasson Wakelin also concurred with Harper's observation  that new housing developments appear to be popping up all the time.
But she says the “$64 million question” is whether these new houses are being pitched and are consistent with what people are telling statutory bodies is the type of housing that is needed.
“Some of the time the answer is 'yes', a lot of the time the answer is 'no',” she says.
Sasson Wakelin says some of the new housing is developer-driven and is based on “inductive reasoning” (flawed interpretations of the what the market wants) rather than “deductive reasoning” (based on what is actually being observed in the market).
She also examined the issue of developers of high-rise apartments that no longer include a car space as part of the property offering.
“Developers are foregoing car spaces on a fairly large scale,” she says.
“Reading between the lines, it is dead money for developers, they are not getting a return out of it.”
However, she says a car space really provides additional storage space.
“All you need is a little roller door on your car space and you have additional storage.”
She says that on resale having a car space or extra storage space can add up to $30,000 to the realisation value of an asset.
Looking at the investment market as a whole, Sasson Wakelin advises property investors to stick with “blue-chip” suburbs that have demonstrated their relative resilience in the past.
At a time when the market takes a “breather” Wakelin says: “You don’t speculate, you don’t take a bit of plunge – you focus on blue-chip areas”.
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Many Melbourne developers not building the right type of new housing: Monique Sasson Wakelin

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The ongoing demise of public sentiment in the face of generally positive circumstances has plenty of observers baffled. 
Interest rates are down, incomes are up, unemployment is low and the federal government is sending money to families, but people remain stubbornly pessimistic, according to the latest consumer confidence index. 
This is a concern for the property industry because without confidence, markets won’t rise. 
But the best clue as to why public sentiment remains so fragile is this: Queensland had the nation’s sharpest fall in confidence levels. Queensland, with all its assets, is more pessimistic even than struggle state Tasmania. 
The explanation is simple. It comes back to the actions of the state government. 
The behavior of Queensland’s new LNP government since being elected in March has been extraordinary. It’s almost as if government members, after spending so long in opposition, are driven by revenge. 
Their slash-and-burn policies have left the populace quite giddy. Anything set up by the previous administration apparently needs to be torn down. Tens of thousands of jobs are being slashed from the public service. 
Anything that can’t be immediately measured in dollar terms – like education, cultural and environmental programs – has been axed. The state’s breast-screening service, credited with savings thousands of lives, is being dismantled. If it’s not coal mining, get rid of it. 
Perhaps the members of state cabinet sat down together and watched The Iron Lady (the film about Margaret Thatcher) before deciding how to deal with things. Apparently they believe, after a landslide win at the March election, that they can’t possibly lose the next ballot no matter what. 
The impact on confidence is considerable. As one government worker put it: “Everyone is waiting for the axe to fall.” 
One of the oddest pronouncements was to scrap plans to expand the Abbot Point export facilities near Bowen. Abbot Point’s capacity is under great pressure because of the expansion of output from the Bowen Basin mines and the emergence of a massive new source of coal in the Galilee Basin. 
Decisions about expanding export facilities do not originate from governments. They emanate from the mining companies, which generate plans as demand rises. Government’s role is to approve (or not) the plans, but government ministers are not the prime mover in these ventures. 
Gladstone’s export facilities are undergoing a multibillion-dollar expansion because a number of mining companies got together to instigate it and fund it. 
Why would a government step in, uninvited, to stomp on plans that would create thousands of jobs? The only plausible reason is on environmental grounds, which is the last thing this conservative mob is likely to do. 
It’s as if fragile egos in the new government felt the need to show they were in charge. 
So, after five months in office, Queensland politicians have not yet managed to do anything constructive to generate jobs and confidence. Quite the opposite. They’ve been decimating both. 
And, just to show how extensive this collective losing of the plot is, the state government is planning to charge journalists fees for the right to cover state parliament. The amount of money this will earn, around $30,000 a year, is pathetically small, but, hey, we’re in charge now so like it or lump it. 
Queensland is not alone. Similar policies have been pursued in other states. Apparently the governments in Victoria, Tasmania and New South Wales believe we’re in a recession and that austerity is the only response. 
It’s estimated that 30,000 jobs have been lost in regional Victoria since Ted Baillieu’s government came to office. I wonder how many country Victorians who voted for Terrible Ted are now out of a job. 
The Victoria government is intent on cutting infrastructure spending, the opposite of what’s needed, and has snuffed out the one industry that was on a serious growth path in the country areas, the construction of wind farms, by passing laws that are tantamount to banning them. Clearly the Victoria government has a vision of a dirty energy future.
Victoria will soon be known as the recession state. While the state government is spreading its austerity message, major businesses are cutting jobs and closing down enterprises. The latest quarterly survey by the Victoria Employers Chamber of Commerce and Industry found businesses believe conditions are the worst since 2009, and two-thirds expect matters to get worse. 
BIS Shrapnel’s Frank Gelber has urged the state government to lift infrastructure spending to make it a driver of growth, rather than cut it back. 
But the only sector Baillieu and his chums want to encourage is property development. This is ironic, because the last thing Melbourne needs is more dwellings, given the over-supply of inner-city apartments and suburban house-and-land packages. 
The path of the NSW government is similar to that of Victoria: slash the public service, trim airy-fairy things like cultural or environmental programs, eradicate the wind farm industry and focus on helping friends in the mining and property industries. 
The cynical among may imagine that policies are being dictated by the source of donations to the Liberal Party. Shame on you. 
Whatever their motivation, they’re hurting consumer confidence.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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terryryder-YECXbqmri2

State governments decimating jobs, confidence and the property market

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Spring means good weather, more people venturing outdoors, gardens looking great, and plenty of leeway to coordinate a move that will minimise disruption to the school year and Christmas holidays, etc.
And then there’s the nitty-gritty to be worked out when selling a property:  choice of agent, sales method, asking price, marketing budget, and, of course, timing.
If considering listing your house for sale by auction, a study by Brisbane-based JA group suggests that the weather can have a substantial influence over the outcome for auctions being held on-site.
JA did a sample across 364 auctions, cross-referencing numbers attending with outcomes, clearance rates and the type of weather.
The study found that as the weather deteriorated, not only did the numbers of attendees drop, as might be expected, but the auction clearance rates also fell.
An auction clearance rate is the most commonly cited benchmark for the relative heath of a residential property market.  The rate reflects the reported percentage of auctions that were successful.
On just over half of the occasions, when the weather was deemed to be “great”, an average of 31 people were recorded at each of the auctions, leading to an average of 1.64 bidder registrations and a property clearance rate of 48%.
On 27% of the occasions with “good” weather, attendees dropped to an average of 22, with bidder registrations at 1.2.  The auction clearance rate also dropped to 36%.
A further 11% of auctions occurred in weather that was deemed to be “ordinary”, and in these conditions attendees dwindled to 16, with bidder registrations averaging 1.5.  The clearance rate hovered at 38%.
“Very ordinary” weather occurred for the remaining auction sample.  And here, I do have to interject that in spite of our recent rains, “very ordinary” might well mean “spectacular” to those folks in the southern parts of the land, and yes, we are spoiled up here in the sunshine state.
The average crowd size and bidder registrations remained about the same, but the gloomy weather caused the clearance rate plummet to 18% – a full 79% drop from the auction results recorded on great weather days.
So, there’s no solid scientific data to back up any conclusions here, but hey, I’ve seen heavier bets placed on far less credible data.  And I must admit it makes sense. One thing agents do agree on is that optimal weather conditions are conducive to optimal sales results, though this doesn’t mean that a good sales result is doomed due to overcast weather conditions.
This study suggests that for auctions, agents may want to consider creative ways to ensure healthy attendance numbers and buyer activity; and sellers may wish to re-evaluate the time of year to sell, and whether to consider an in-room rather than on-site auction.
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a target="_blank" href="https://www.matusikmissive.wordpress.com%20/" title="blocked::https://www.matusikmissive.wordpress.com /">Michael's blog</a> or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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The better the weather, the more likely the property sale: Michael Matusik

Gladstone house price growth stalls in June quarter, but double-digit growth in some suburbs: REIQ

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The most discounted property currently on the market in Australia is a four-bedroom livestock property in Caboolture, Queensland, with an initial asking price of $949,000. After sitting on the market for a whopping 783 days, the owners slashed the price down do $586,000, or a 38% reduction. The property comes with two stables and a day yard along with a barn equipped with a toilet and shower.
The vendors of a two-bedroom fifth-floor apartment in Port Adelaide, South Australia, havalso reduced their asking price by 38%. The property has been on the market for 755 days. The initial asking price was $725,000 and was reduced to $450,000 after no potential buyers were found. According to the property's marketing, the vendor bought the unit in October 2008 for $674,950 and is willing to make a $224,950 (or 33%) loss on it.
Head of SQM Research Louis Christopher accounts for the drastic price cuts through the unrealistic expectations of home owner’s asking prices.
“That stops them finding a buyer in the first few weeks, the crucial time to sell.”
“The seller is then faced with reducing their initial asking price, creating stigma around the property with potential buyers that there is something wrong with it,” says Christopher.
Christopher also explained that sellers who are not meeting the current stagnant real estate market are not only wasting their time, but also that of the agent’s and the money spent on advertising.
 
1 <a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank">19 Lychee Drive, Caboolture, Queensland 4510</a> (pictured) Days on the market: 783 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
2
<a href="https://www.domain.com.au/Property/For-Sale/House/SA/Port-Adelaide/?adid=2008435199" target="_blank">502 Tarni Court, Port Adelaide, South Australia, 5015</a>
Days on the market: 755 Initial asking price: $725,000 Current asking price: $450,000 Reduction: 38%
3
<a href="https://www.realestate.com.au/property-house-qld-closeburn-107603313" target="_blank">34 Seraya Court, Closeburn, Queensland, 4520</a>
Days on the market: 336 Initial asking price: $1.45 million Current asking price $939,000 Reduction: 35%
4
<a href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a>
Days on the market: 938 Initial asking price: $1.1 million Current asking price: $699,000 Reduction: 36%
5
<a href="https://www.realestate.com.au/property-house-wa-armadale-105464925" target="_blank">Armadale, Western Australia</a>
Days on the market: 1207 Initial asking price: $1.85 million Current asking price: $1.2million Reduction: 35%
6
<a href="https://www.domain.com.au/Property/For-Sale/House/SA/Mawson-Lakes/?adid=2007634261" target="_blank">50 Isla Circuit, Mawson Lakes, SA, 5095</a>
Days on the market: 1161 Initial asking price: $1.5 million Current asking price: $990,000 Reduction: 34%
7
<a href="https://www.realestate.com.au/property-house-qld-aspley-106322479" target="_blank">1255 Gympie Road, Aspley, Queensland, 4034</a>
Days on the market: 875 Initial asking price: $510,000 Current asking price: $350,000 Reduction: 31%
8
<a href="https://www.domain.com.au/Property/For-Sale/House/WA/Mount-Lawley/?adid=2009312405" target="_blank">144 Joel Terrace, Mount Lawley, WA, 6050</a>
Days on the market: 273 Initial asking price: $2.69 million Current asking price: $1.85 million Reduction: 31%
9
<a href="https://www.realestate.com.au/property-house-wa-lancelin-105467644" target="_blank">93 Gingin Road, Lancelin, WA 6044</a>
Days on market: 1207 Initial asking price: $580,000 Current asking price: $399,000 Reduction: 31%
10
<a href="https://www.domain.com.au/Property/For-Sale/Penthouse/NSW/Bondi-Junction/?adid=2008805959" target="_blank"> 69/257 - 269 Oxford St Bondi Junction, NSW, 2022</a>
Days on the market: 518 Initial asking price: $2.5 million Current asking price: $1.8 million Reduction: 28%
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Queensland farm on the market for two years the country's most discounted property: SQM Research

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In my earlier post last week I outlined some key budget settings to guide how the marketing spend for a small development project might be structured. I did this because it is important to consider the key relationship between how marketing expenditure is structured and the likely impact these decisions will have on the sales path for a project.
The logic behind this way of working is that setting the marketing budget against the development and sales strategy will highlight the key market conditions that will have to be addressed in order to gain the necessary leads and subsequent sales – the benchmark of our marketing success.
Assuming that any project we are working with is yet to start construction, the marketing budget, if well managed and structured, plays an instrumental part in a project’s success.
I’d like to highlight two key points <a href="https://www.propertyobserver.com.au/residential/to-market-smaller-developments-you-must-fully-understand-your-target-market/2012081355995" target="_blank">from the marketing budget outlined in my last post</a>, being the project website and display materials. With both accounting for about15% of total budget they are potentially, outside of media, two of biggest and most effective areas of expenditure. Together they are also imperative in helping to drive off-the-plan sales.
If either of these two areas are under-invested in they can easily become issues that are expensive to overcome or they will add what are clearly avoidable time pressures. If the marketing budget is an early focus and with the amount of experience available with the right project team, I believe that such hurdles should be avoided, so they do not become issues that need to be addressed later in the project’s development.
The project website
The project website is an essential marketing tool.
Now that’s a statement that will not be a surprise to anyone working in project marketing, but its nonetheless worth re-stating.
And because we are talking about budget settings, it’s also worth acknowledging that website development and construction need not involve a large up-front cost, but effort in terms of quality content and keeping the site up to date, including being linked to database management (CRM – customer relationship management).
A well-planned website will also make allowance for the varied product stages that may be required during the marketing, starting off with the ROI (registration of interest) and pre-release period.
Some current project websites that in my view are stand-out performers for various reasons are:
<a href="https://www.colliers.com.au/smart/home" target="_blank">www.colliers.com.au/smart/home</a>
<a href="https://www.sundayapartments.com.au/" target="_blank">https://www.sundayapartments.com.au/</a>
<a href="https://www.beachsideliving.com.au/" target="_blank">https://www.beachsideliving.com.au/</a>
<a href="https://www.colliers.com.au/friday" target="_blank">https://www.colliers.com.au/friday</a>
<a href="https://www.swanstonsquare.com.au/" target="_blank">https://www.swanstonsquare.com.au/</a>
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How smaller developments can make the most of the project website and marketing materials

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Pouring rain failed to dampen the spirit of bidders at 32 Christowel Street, Camberwell, on Saturday. In fact to the chagrin of auctioneer James Tostiven, who did not have the luxury of an umbrella, bidders preferred to get wet rather than alter their pre-auction strategy to hold back until the business end of the auction.
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 Melbourne properties in round 10 of the competition this week was 32 Christowel Street, Camberwell (pictured below).
<img src="/images/stories/2012/08/chrisdowel.jpg">
In a crowd of around 80, four bidders stepped up to the plate and pushed the price over the $1.9 million reserve before being knocked down at $1.95 million. This was a great result for the vendor, who has benefited from just over 9% annual growth since buying the property in 1997 for $512,000.
In Sydney 8 Stirgess Avenue, Curl Curl (pictured below), was one of the 12% of scheduled auctions that sold prior. The lure of a beachside haven proved too much for the buyer, who offered $100,000 above the $1.6 million-plus price quote.
<img src="/images/stories/2012/08/curlcurl.jpg"> 
Selling prior to auction can mask the realities of a soft market. In many cases it means there is only one buyer interested in the property and rather than conduct an auction with only one bidder, real estate agents force the issue early and wrap up the sale.
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