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.

&nbsp;

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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."

&nbsp;

[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 signature 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." />

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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.

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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.

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"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.

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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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Townsville is forecast to be the strongest-performing regional location in Queensland between now and 2015, according to researchers BIS Shrapnel.
Property values in Townsville are forecast to rise by 6% per year over the next three years, with the regional city benefiting from rising investment in the resources sector over 2012-13, says BIS Shrapnel in its latest Residential Property Prospects, 2012 to 2015 report.
Townsville’s projected growth is just below the cumulative 20% forecast for Brisbane over the three-year period.
Further north, Cairns will also benefit from resources investment, with 5% annual dwelling growth to 2015.
The weakest growth prospects are on the Gold Coast and Sunshine Coast, with BIS Shrapnel forecasting capital growth of 4.2% per annum to 2015 due to a drop in interstate migration.
March quarter sales figures released by the Real Estate Institute of Queensland showed that Townsville has been one the strongest-performing Queensland municipalities, with just a 2% decline in house prices and no change in unit prices over the prior 12 months.
 In comparison Gold Coast house and unit prices are down 5.1% over this period.
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="357">
<col width="64" span="4">
</colgroup>
<tbody>
<tr height="65">
<td height="65" width="357">Region</td>
<td width="64">Median Sale Mar12</td>
<td width="64">Qtrly change</td>
<td width="64">Median Sale 12mths Mar12</td>
<td width="64">1yr change</td>
</tr>
<tr height="20">
<td height="20">SOUTHEAST QUEENSLAND</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="33">
<td height="33" width="357">BRISBANE (SD)</td>
<td>$  425,000</td>
<td>0.0%</td>
<td>$  430,000</td>
<td>-5.5%</td>
</tr>
<tr height="20">
<td height="20">BRISBANE CITY (LGA)</td>
<td>$  505,000</td>
<td>1.2%</td>
<td>$  510,000</td>
<td>-4.7%</td>
</tr>
<tr height="20">
<td height="20">GOLD COAST CITY (LGA) +</td>
<td>$  454,375</td>
<td>0.7%</td>
<td>$  470,000</td>
<td>-5.1%</td>
</tr>
<tr height="20">
<td height="20">SUNSHINE COAST (LGA) +</td>
<td>$  430,000</td>
<td>0.6%</td>
<td>$  437,000</td>
<td>-6.0%</td>
</tr>
<tr height="20">
<td height="20">TOWNSVILLE CITY (LGA)</td>
<td>$  360,000</td>
<td>0.0%</td>
<td>$  365,000</td>
<td>-2.0%</td>
</tr>
<tr height="20">
<td height="20">CAIRNS (LGA) ~</td>
<td>$  350,000</td>
<td>4.5%</td>
<td>$  350,000</td>
<td>-4.1%</td>
</tr>
</tbody>
</table>
 
“With both Townsville and Cairns offering services to these mining projects, as well as a base for employees in and out of the projects, population growth should benefit with a rising shortage of dwellings emerging until new supply catches up,” says BIS Shrapnel.
“Moreover, the improvement in local economic conditions should also see confidence improve after a period of weakness. Townsville should expect a greater upside to its recovery due to its more diversified economy, although both markets should experience moderate price growth.”
The report notes that house prices on the Gold Coast and Sunshine Coast have generally moved in tandem with Brisbane due primarily to population growth driven by interstate migration.
However, due to interstate migration into Queensland now at long-term lows, BIS Shrapnel says the residential markets on the Gold Coast and Sunshine Coast have weakened considerably.
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Townsville has best regional Queensland prospects with smaller Gold Coast recovery by 2015: BIS Shrapnel

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10/4 Loftus Street, Ashfield, NSW 2131
<img src="/images/stories/2012/07/loftus.jpg">
The tenants of this two-bedroom unit are paying $405 per week and are on a lease until December this year. The property includes a lock-up garage and an internal laundry and is within walking distance of Ashfield shops, transport and parklands. 
LJ Hooker agent Michael Garcia<a target="_blank" href="https://www.ljhooker.com.au/JN5F8B"> is marketing the property</a> with price hopes of $430,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 4.9% at its current rent, just above the gross rental yield for Ashfield units of 4.5%, 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. Strata fees are about $661 per quarter, council rates about $227 per quarter and water is about $157 per quarter.
The median unit price in Ashfield rose 3.7% in the past year and 41.7% in the past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $7,000.
The property will be open for inspection Saturday, July 21 at 11am and will go to auction Saturday, August 11 at 11.15am.
For more information about prices and yields in Ashfield, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
<hr>
27 Collett Street, Kensington, VIC, 3031 
<img src="/images/stories/2012/07/collett.jpg" width="470">
This two-bedroom Victorian cottage is currently tenanted at $400 per week until September, and Barry Plant listing agent Eugene Louey says comparable properties in the area rent for $450 per week. The property has high ceilings, open fireplaces and a rear courtyard or car park with right-of-way access. It is within walking distance of Racecourse Road, shops and cafes.
Louey<a href="https://www.barryplant.com.au/property.cfm?propertyID=2086437&amp;realestate=27_Collett_Street_KENSINGTON_VIC_3031&amp;menuItemID=41762" target="_blank"> is marketing the property</a> with price hopes of $540,000 plus, and if it sells for $540,000 that would secure an investor a gross rental yield of 3.8% at its current rent. If it were rented for $450 a week, that would mean a yield of 4.3%, above the indicative gross rental yield of 3.62% for Kensington houses, 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 Kensington fell 2% in the past year but rose 49% in the past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $7,000 and over five years to be $25,000.
The property will go to auction Saturday, July 21 at 11.30am.
For more about prices and yields in Kensington, see the RP Data suburb page.
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Friday form guide: Yields of up to 4.9% in Ashfield

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They may be remote, dusty places steeped in more than a century of mining history, but Broken Hill and Kalgoorlie-Boulder are no longer risky places to lend money to property investors, Westpac has decided.
The bank has removed both regional locations from a list of “single-industry” towns where property investors will struggle to get a Westpac loan, ruling that house prices and rental yields are now at sustainable levels in these two postcodes.
However, it has added a host of regional mining hotspots to its “single-industry” policy, including Moranbah in Queensland and Port Hedland in WA as it pulls back from lending in what it deems unsustainable housing markets, according to an internal memorandum issued by Westpac to mortgage brokers obtained by Property Observer.
The post codes that have been added to the list are in Queensland:
<ul>
<li>Blackwater (4714)</li>
<li>Moranbah (4744)</li>
<li>Dysart (4745) </li>
<li>Middlemount and May Downs in the Isaac region (4746)</li>
</ul>
And in Western Australia:
<ul>
<li>Roebourne (including Karratha, Baynton, Bulgarra and Pegs Creek in post code 6714)</li>
<li>Port Hedland (including South Hedland in post code 6721)</li>
<li>East Pilbara (post code 6753)</li>
</ul>
For investors in these postcodes the bank says it will now discount rental income listed as security on mortgage applications by 40%, taking into account the risk of vacancies.
“An application with security in a single-industry town will have all rental income assessed at 60%,” says the bank in a note to mortgage brokers.
The new requirement is in addition to the rule that a 30% deposit is required in these postcodes for property to avoid the added burden of lenders mortgage insurance (LMI) – well above the usual 20% deposit requirement.
The policy changes apply to two investment loans – Westpac’s variable rate Equity Access Loan (EAL) and its fixed-rate investment property loan (IPL).
The decision to exempt Broken Hill is particularly surprising in light of its history.
The town of 23,000, situated 1,160 kilometres from Sydney, is the birthplace of what is now the world’s biggest mining company BHP Billiton and has a rich mining history dating back to the discovery of silver ore in 1883.
But Westpac spokesperson Danny John says in both Broken Hill and Boulder house price growth has pulled back while rental yields are in a more sustainable range.
“Broken Hill is still reliant on mining, but it has diversified into tourism. There are now lower mortgage delinquency rates, while house prices have slipped back and rental yields are between 5% and 6%.
“Boulder is still reliant on mining, but has stable house prices and rental yields of about 7% with the housing market in pretty good shape,” John says.
In November last year Hotspotting.com.au’s Terry Ryder – who is generally wary of recommending traditional mining hotspots – wrote that Broken Hill should no longer be seen as just a one-horse mining town.
“Traditionally reliant on mining and agriculture, Broken Hill is developing new economic drivers, including tourism and the arts,” Ryder said.
Ryder quoted Broken Hill mayor Wincen Cuy as saying that visitors find it to be “bigger, greener and cleaner” than they expect.
As to the decision to add the WA and Queensland mining towns to the list, John says Westpac is concerned that in these locations the mining boom is driving house prices and rental yields to relatively unsustainable levels.
As an example, he says house prices have jumped 44% in Moranbah with yields at 13.5%, with property valuers telling Westpac that these figures are not sustainable.
Real Estate Institute of WA president David Airey says the changes probably reflects a view from within the bank that “housing prices and rental returns in particular, in places like Karratha, Port Hedland, South Hedland and Newman are unsustainable”.
“The state government is anxious to address affordability in the Pilbara, and while this won’t happen overnight it’s clear that housing demands will be better met over the next few years.
“In contrast, the steady growth and more affordable market of Kalgoorlie-Boulder perhaps offers greater confidence to lenders,” he says.
Airey says Westpac has the right to “calibrate its business model as it sees fit”.
“But it would be a pity if the result meant that investors were less inclined to supply much needed housing in the state’s northwest. In some ways it’s a Catch-22 situation,” he adds.
Real Estate Institute of Queensland (REIQA) CEO Anton Kardash says lending criteria for remote areas has been restricted for some time given these areas are often reliant on single industries for employment.
“Investors in these areas need to be aware that lenders will require a larger deposit dependent on the element of risk lenders attribute to buying property in a specific region.”
Jane Slack-Smith, director at Investors Choice Mortgages, says the change in policies indicate that Westpac is less keen to lend in mining locations.
“The bank is discounting rental income to allow for vacancies,” she tells Property Observer.
Slack-Smith says Westpac is implementing these changes in places like Karratha despite her clients being able to ask rent of $2,000 per week over a five year lease.
“Some lenders will take 100% of rental income, but Westpac only takes 60% of income.
“Some lenders don’t have postcode restrictions,” she says.
Broken Hill and Kalgoorlie images courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
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Broken Hill and Kalgoorlie no longer as risky for property investors but some mining towns unsustainable: Westpac 

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There is a wide range of opportunities for property investors with a “lazy” $500,000 to invest and a creative mindset, according to the July edition of the Herron Todd White Property Market report.
Herron Todd White says the results of this year’s “lazy half million issue” show that “market performance has varied as much as the landscape”.
Investment options range from buying an older house in western Sydney on a large block and adding a granny flat, investing in four-bedroom homes near Newcastle University and converting them into student accommodation or considering a worker’s cottage in East Brisbane.
Here are 15 eclectic investment opportunities for savvy investors with $500,000 to invest:
Build a granny flat in western Sydney (rental returns of between 6.5% and 7%)
Investors should consider purchasing a circa  1960s to 1970s dwelling on 650- to 700-square-metre allotments and erect granny flats on the rear of the allotment, thus creating two separate tenancies. According to HTW, this type of investment has grown from a trickle to a flood and is mainly taking place in the Penrith Council area, although it has started to creep into neighbouring Blacktown Council area as well. Typically the investor is paying somewhere between $280,000 to $330,000 for the existing dwelling and between $60,000 to $80,000 for the granny flat plus spending an extra $25,000 on sprucing up the original dwelling. According to HTW the dual tenancies can generate monthly rent of $600 ($350 for the main house and $250 for the granny flat) with vacancy rates at practically 0%. HTW considers granny flats the “best investment from a rental return basis in the western suburbs”.
Convert a four-bedroom house close to Newcastle University into student digs
Investors should look at the Newcastle suburbs of Birmingham Gardens and Jesmond close to Newcastle University in Callaghan. HTW says investors are buying four-bedroom homes and turning them into six- and eight-bedroom residences and then renting the rooms separately to students. “Although rental returns are higher (as, however are the management costs), it is important to ensure that the right approvals  are in place otherwise you might find a nasty surprise  when the bank comes to value the property and you find its still valued as a four- bedroom home,” warns HTW.
Buy a pre-1980s houses in Port Macquarie and Forster
Investors should look for houses close to either the town centre or beach priced from $270,000 to $340,000 in Port Macquarie and Forster on the NSW mid north coast. HTW says the remaining $160,000 to $230,000 could be used to acquire a pre-1980s two-bedroom unit within the same location parameters. According to HTW, houses in the low to medium price range offer the greater likelihood of lower vacancy rates, higher yields and better potential for capital growth. Investors should avoid modern high-rise units in Forster in the $400,000 plus price range, as the market remains oversupplied.
Buy workers' cottages in East Brisbane
HTW says entry level workers cottages with two-bedroom, one-bathroom configurations can be bought below the $500,000 mark. “The suburb is frighteningly close to the CBD and facilities abound. Renters are readily available so the upside is once again a good thing,” says HTW.  For something a little bit more flash in the same suburb HTW suggests a circa-2000 unit with a two-bedroom, two-bathroom layout for around the $425,000 to $450,000 mark would rent for around $440 per week.
Buy a detached post-war home in Camp Hill or Coorparoo
Investors can pick up a detached post-war three bedder in Camp Hill or Coorparoo on a 600-square-metre block.  The suburbs are about 1o kilometres south east of the Brisbane CBD, with “facilities are around the corner” and “renters keen to be there”. According to HTW, these assets also look good for a long-term future sale.
Buy an older house close to the beach at Wollongong
Investors should consider buying an older house close to the beach at Towradgi, Fairy Meadow and East Corrimal just north of the Wollongong CBD. From an investment perspective good capital gains coupled with high rental returns can be found in Fairy Meadow, with the suburb benefiting from the expansion of the University of Wollongong, Innovation Campus and an improvement of public transport to and from the suburb. It is also close to the F6 freeway to Sydney.
Source: HTW
<hr class="system-pagebreak">
 
Buy one- and two-bedroom unit in Brunswick, Melbourne
Brunswick, Brunswick East and Brunswick West “tick a lot of the boxes” for investors looking to get maximum capital growth and good rental returns. More specifically investors should look to purchase a one-bedroom, one-bathroom apartment built within the last five years, or perhaps an older-style (10 to 25 years old) two-bedroom apartment. Brunswick and the surrounding suburbs are among one of the best served by public transport, with a train line and tram service running into to the CBD, further enhancing and strengthening the suburb’s desirability.
Buy a one- or two-bedroom unit close to Sydney CBD
Investors should consider one and two-bedroom units close to Sydney CBD, in the inner west as well as around the inner-city suburbs of Redfern, Waterloo and Zetland.  HTW valuers say it is a good time to buy in these areas because they offer strong rental returns with low vacancy rates. “What’s more, the market has softened resulting in the ability to achieve good purchase prices.”
Buy a semi-modern project home in East Bowral
Four-bedroom detached houses in East Bowral in the NSW Southern Highlands are selling for between $420,000 to $450,000 and generally secure rental rates of between $400 to $500 per week, equating to a gross yield between 5.2% and 5.7%
Renovate an older building in Goulburn
For investors seeking capital growth older-style dwellings in Goulburn in the NSW Southern Tablelands sell for between $250,000 and $320,000, suggesting that significant value uplift may be possible through renovation. Currently houses priced between $330,000 and $450,000 attracts rentals of $350 to $450 per week, representing a gross yield of around 5%.
Buy two or three units in Goulburn
Another option in Goulburn for investors would be to purchase multiple residential units or townhouse/villa properties for between $150,000 and $200,000 each and rent them out for between $150 and $200 per week. According to HTW, this market has shown good capital and rental growth earlier this year and is now considered to be steady.
Look at properties priced above $350,000 in Ballarat
HTW suggests investors look at properties over $350,000 as they appear to represent the best opportunity with fewer buyers in this market segment, more homes to choose from and more time to negotiate. The overall Ballarat market looks strong with yields of up to 8% on offer on units in the outer suburbs.
Consider south Perth suburbs close to airport
HTW suggest investors consider the Belmont, Cloverdale and Kewdale areas south of the city. In these suburbs there is strong demand for rental properties from the state’s "fly-in fly-out" mining workforce and they are located close to Perth airport. Furthermore, generous density allowances and a cooperative council mean that many properties within this area offer good short to medium term redevelopment prospects.
Buy two modern townhouses in Mildura
Investors should consider buying either two modern townhouses, each on around 350-square-metre lots, or two older three-bedroom homes, on larger lots of around 700 square metres. HTW says a tight rental market has pushed up rents up in the past 18 to 24 months, with gross rental return of 6% on offer.
Buy a newer home near Wyong on the NSW central coast
HTW suggests newer areas like Woongarrah, Hamlyn Terrace, and Wadalba near Wyong on the NSW Central Coast are “loaded with good value homes in and around the $500,000 mark”. These are areas popular with young family areas and populated with four- bedrooms, double garage on good sized blocks. “These are the areas which stand to benefit from future infrastructure projects courtesy of a progressive council. The government’s new first home buyer scheme that commences in October is also likely to play a big role in these areas. Early risers and the astute will certainly benefit here,” says HTW.
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From western Sydney granny flats to East Brisbane workers’ cottages:  15 eclectic investment opportunities under $500,000: HTW

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The advantages of starting your business from the comfort of your own home are clear – you keep your overheads to a minimum, you eliminate the daily commute and you can be flexible with your hours. 
But there a number of myths that surround home working. Many people can’t grasp that a serious business, rather than a hobby, can be built from your home. 
So, if you’re weighing up whether to launch your business from the spare bedroom or kitchen, here are 10 common misconceptions you must be aware of:
1. The hours are easy
<img src="/images/stories/2012/07/clocksus.jpg">
It’s tempting to think that running a home-based business involves a few hours on the computer in the morning, a nice leisurely lunch, maybe a phone call or two in the afternoon before an early finish. 
However, if your business is to be anything other than a mildly diverting sideline, you will have to put in the work. 
“When you’re by yourself, you do everything – bookkeeping, marketing, sales, the lot,” says Cas McCullough, who runs social enterprise <a target="_blank" href="https://mumatopia.com/" rel="nofollow">Mumatopia</a> and <a target="_blank" href="https://www.supportawahp.com/" rel="nofollow">Support a Work At Home Person</a> from her house. 
“All of this takes a lot of time and people underestimate this. They often take things on as a hobby and then find it is very popular and organically grows. They don’t think long term.” 
Set a strategy for your business early on, have an in-depth business plan. And consider outsourcing – it’ll save you time.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
<hr class="system-pagebreak">
2. You can sit back and get rich quickly
<img src="/images/stories/2012/07/chairsus.jpg">
Despite what the endless ads tell you, there aren’t many jobs that will earn you big bucks just by staying at home making the odd phone call. 
“You look at the content behind those stupid Google ads about homeworking and it promises that you’ll be working for about seven minutes a day,” says McCullough. 
“You can be a success if you have the right business model but, if not, you’ll fall on your face.” 
“People who are pushed into home working because they lose their job or think they will get rich quick are more likely to fall over. They set up a Facebook page and wonder why no one has turned up.” 
“It’s better to start a business that you’re passionate about. You’re then more likely to be proactive and engage with people.”
 
<hr class="system-pagebreak">
3. You don’t need to spend money on day care
<img src="/images/stories/2012/07/daycaresus.jpg">
For busy parents, working from home may seem like the ideal solution – not only do you see more of your family but you also save money on day care for your children. 
Right? 
“You will occasionally, if not regularly, need a babysitter for your children,” says McCullough. “I have regular care once a week and sometimes my husband can help out, but you need the balance as you will need to go out for meetings.” 
“Also, your business commitments won’t keep to normal working hours, when your kids may be at school.”
 
<hr class="system-pagebreak">
4. It’s not a real job
<img src="/images/stories/2012/07/realsus.jpg">
Perhaps the most hurtful myth about home-based working is that it is somehow a lesser job. That it is a frivolous hobby for bored mothers, rather than a platform for fast-growth businesses, ignoring the fact that the likes of Google and Amazon started life as home-based start-ups. 
“A lot of people tell me that it’s not a real job and I can see the irritation that causes others who work from home,” says McCullough. 
“It has got a bit of a bad rap, but just look at the number of people who work from home. Look at what many of them go on to achieve. They are worthwhile businesses and they are contributing to the economy.”
 
<hr class="system-pagebreak">
5. All you’re doing is moving your job to your home
<img src="/images/stories/2012/07/jobhomesus.jpg">
 If you’re moving from a corporate career to working from home, it’s natural to think that you can just supplant your previous working life and routine into your new one. 
Jane Shelton, managing director of <a target="_blank" href="https://www.propertyobserver.com.au/https://marshallplace.com.au/node/41" rel="nofollow">Marshall Associates</a> and author of No Workplace Like Home, advises: “It's always nice to have a steady routine in a large corporation, where there are colleagues at hand to address the various competing demands of the clients and superiors, but when the only boss you have to blame is yourself, the rules of the game must change.” 
“Time schedules have to be modified to address your role in the value chain, the demands of business development, the schedules of family, friends and of course competitive suppliers of your products and services.” 
“A better way to respond to the time schedule and routine is to look at it as a question addressed by your business and marketing plans.” 
“You will find that the way that you go about the only real task of business – creating and corralling customers – relies on a systematic focus on staying within the decision-making cycle of your clients, customer and business communities of interest.”
 
<hr class="system-pagebreak">
6. You don’t have to worry about health and safety
<img src="/images/stories/2012/07/healthsafesus.jpg">
If you are wallowing in a messy, potentially dangerous home-based office, you risk more than being called a slob. 
Not only is your own health and safety important if you are to keep running your business, but any staff and clients will need to be protected too, as a recent case where Telstra had to pay medical and legal costs for an injured home worker highlighted. 
“Ensuring that your home is a safe workplace doesn’t happen by chance or guesswork,” Shelton says. 
“It requires a systematic approach to finding and fixing hazards and risks and any particular circumstances that apply to your home working base.” 
Shelton advises going through five key steps to get your OHS in good shape:
<ol>
<li>Finding hazards that could hurt the people who either live, work or visit your home.</li>
<li>Family forums that bring together all of these people on a regular basis to make sure that they are as safety conscious as you are and undertake the safety drills that are an essential part of hazard awareness.</li>
<li>Figuring out how the people in and around your home life could get hurt and working life hazards (the level of risk).</li>
<li>Fixing identified problems by sorting out and installing the most effective risk controls that are reasonably practicable under your circumstances.</li>
<li>Following through on your risk controls and checking that they are working to cope when things do not go according to plan.</li>
</ol>
 
<hr class="system-pagebreak">
 7. Your home life will remain exactly the same
<img src="/images/stories/2012/07/homelifesus.jpg">
Home is a nice place to relax and turn off after a long, hard day at work. Surely, if you spend all day there, you will be permanently in the comfort zone? Shelton has some words of warning. 
“Firstly, map your own interests and personal priorities and then set out how the start-up is going to help you achieve your objectives,” she says. 
“Be honest with yourself and answer these core questions: How will this venture change our way of life? What do I really like doing, and how will it shape my family's future?” 
“Who can support me while I get the business up and running? Where will all this take us and what will it cost to succeed?” 
“Then you need to set aside a fixed amount of time for your business homework, when the kids have done theirs and get partners and friends to share the burden of developing your start-up as an adjunct to your family life rather than an alternative to it.”
 
<hr class="system-pagebreak">
 8. Clients won’t take you seriously
<img src="/images/stories/2012/07/jestersus.jpg">
Many budding entrepreneurs fret about the impression left upon clients by their home office. 
Obviously, you don’t want to hold an important meeting with a key client while you are both wedged on the sofa, trying to ignore the child that is watching cartoons on the TV. 
But this doesn’t mean that it’s impossible to convey a professional demeanour to clients. 
If they have to come to your house, set aside a room for meetings and ensure there aren’t any interruptions. Better still, hold the meeting at a café or at a serviced office that you can rent out by the hour. 
There are other tricks to making your business appear bigger, such as adopting a 1800 telephone number, but, ultimately, your customers will primarily care about the products or service you provide them. You working from home shouldn’t be a factor.
 
<hr class="system-pagebreak">
 9. There’s no good financial reason, other than cutting overheads
<img src="/images/stories/2012/07/chestsus.jpg">
A common rationale for working from home is the money it will save you on office space, furniture and commuting. 
But don’t be fooled into thinking that there is little other financial reason to working from home other than the overheads you’ll save on. 
Australia’s tax code is fairly generous for entrepreneurs with home offices, with deductions offered for factors such as electricity, cleaning supplies, depreciation of office equipment, mortgage interest, rent, rates and insurance. 
Indeed, the Tax Office provides a “bonus deduction” of 50% for small businesses with qualifying assets.
 
<hr class="system-pagebreak">
 
10. Being at home all day is awesome
<img src="/images/stories/2012/07/paperworksus.jpg">
Office dwellers commonly think that working from home is an indulgent luxury that they’d give their right arm to experience. 
In reality, working from home by yourself for a long period can be quite taxing. Entrepreneurs often miss the collaboration and interaction that comes with working alongside colleagues. 
Shelton says: “You need a staged plan that lists the people who are your keys to success. This means that you identify business leaders, distributors and potential customers who you plan to meet and greet.” 
“By doing this you are proactively establishing what’s new and different and can overcome that sense of being cut off by your start-up activities.” 
“Pick up the phone, send them an email and invite their comment on what you are doing.”
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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The top 10 myths about running a business from home

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The developers of the delayed 11-storey Alex Perry Residential apartment block in Brisbane’s Fortitude Valley have removed all three-bedroom apartments from the design and are awaiting council approval on a modified development application.
A spokesperson for developer Chrome Property told Property Observer there were few enquiries for the three-bedroom apartments since the project launched in May last year, complete with paparazzi and supermodels.
<img src="/images/stories/2012/07/alexperrydevel.jpg">
All apartments have been designed by Alex Perry in conjunction with Cottee Parker Architects.
A soft launch of the re-jigged project was held in June.
Three-bedroom apartments were priced at just under $1 million.
The three-bedders have been replaced with one-bedroom apartments as part of a “redefined product”, and 77 of the 143 apartments will be sold to investors as serviced apartments with a hotel operator lined up to manage them.
<img src="/images/stories/2012/07/alexperry2.jpg">
Investors are being offered 6% guaranteed rental returns for up five years net of management fees, with settlement anticipated for early 2014.
Construction is expected to start at the end of the year, with completion in early 2014.
One-bedroom apartments will start from $381,000 and two-bedroom units from $550,000.
Chrome has been reluctant to reveal sales numbers since the project was launched.
The May quarter sales update in the latest Midwood Report does not include Alex Perry Residential among its mix of apartment projects.
The latest Colliers report shows no sales in Alex Perry Residential since launch with the note that no sales figures were disclosed for the first quarter of 2012.
RP Data records show that Chrome acquired the site at 959 Ann Street for $6.27 million in March 2010.
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Alex Perry Residential redesigns Fortitude Valley, Brisbane, development as three-bedroom units seem to go out of fashion

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Our kids are now all back in school.  It happens every school holidays: the traffic drops dramatically when schools are out and becomes almost unbearable when they return.  The first half of the year is also much worse – well, that’s my observation anyway – than the second part.
Recent posts by Alan Davies of <a target="_blank" href="https://blogs.crikey.com.au/theurbanist/">The Urbanist</a> have uncovered some interesting statistics when it comes to how our children get to and from school.
When it comes to primary students, 70% of our little tackers get driven to and from school.  It is good to see that just over 20% walk.  The balance (7%) either catch some form of public transport or cycle.  One would expect such.
Secondary students, in contrast, are a much more lethargic bunch.  Just under half of our teenagers get driven to school.  True, fewer get home that way, but still up to half get a lift with mum or dad in the mornings.  About 18% actually walk to/from school and fewer than 5% cycle.  One in three catches public transport.
Looking back 20-odd years ago shows a different pattern, with close to half of our high school students catching public transport back in the late 1980s.  One in 10 rode a bike; close to one in five walked and just 30% got a lift.
It is very likely that the rise in car ownership, two-income households being more the norm and some well published child-related crimes, especially in Queensland, have all had an impact on this trend.
But also – and I have two teenage daughters and we are as guilty as the next family – we are surely mollycoddling our teenagers way too much.
I had to take several modes of transport to get to and from school – plus walk through thick snow without shoes – when I was growing up in western Sydney.  Did my parents refuse to take me to school?  Well, there were stricter rules in their house than ours, but there was no way I was going to miss out on the “goss” on the bus or train – and besides, where else did you chat up girls, collect fags – cigarettes of course – copy each other’s homework, set up dates, make out and see which party you were going to crash on the weekend?
This is what being a teenager is all about.  And yes, you got into several scrapes, but mostly sense prevailed and lessons were learnt.
I believe that many of our kids today want more freedom – which includes getting to and from school – but we as parents are way too controlling.  We seem to relent as the year goes by; hence the drop off in school-related car travel at the back end of the year.
Most of Australia’s major urban spaces are trying to deal with increasing traffic congestion.  The solutions aren’t always about building more roads or implementing new public transport systems.  More discussion needs to be centred on changing behaviour.
Our teenagers – in the main – should not be driven to and from school.  More should catch public transport, walk and cycle to and from school.  If that means more police on the beat, then so be it.  This would be much cheaper than building another by-pass, tunnel or widening our arterial roads.
School times should also be offset against peak-travel times or staggered across our cities.  I have spoken to many teachers and parents about such and in every case this suggestion gets a positive reply, plus a bit of a surprise as to why this hasn’t been brought up as a solution before.  It isn’t that insightful – just plain logic.
But when it comes to government, why implement a simple and very cost-effective solution when a much more complicated and expensive alternative exists?
Changing the way teenagers travel to and from school isn’t a panacea for solving our urban traffic issues, but it is just one way to maybe improve the status quo without spending lots of money.  The public purse isn’t big enough these days to go for the ultimate solution.  We need get the most out of what we already have.
Oh, and before I go, there is a strong connection between residential prices and being within close commuting distance to a good secondary school.  According to ANU economist Andrew Leigh, a five-point rise in a school’s UAI score (equivalent to TER or ENTER in other states) leads to a $13,000 increase in house prices in the catchment area.  Similar research in the UK and the US has suggested good schools boost house prices by between 3% and 5%.
Our qualitative research with family groups has found that proximity to a good school is a higher priority than, say, having a city view or being close to major open space.  Our research has also found that homes within a half kilometre radius of a public secondary school grew by about 3% more per annum when compared to the wider city average.  A higher multiplier was found when looking at private secondary schools, which had close to twice the rate of growth when compared with the city-wide average.
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>.
Photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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michaelmatusik-49YzLvdmNv

The impact lazy teenagers have on traffic, the econony and house prices – or why you should not drive your kids to school

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The mining boom is making many of us rich – especially those of us living out west. Five of the country's top 10 richest towns are located in Western Australia, according to the latest census data, with Dampier taking the top spot, with 22% of its residents earning more than $4,000 per week.
But we're not just becoming richer, we're living large, too. Between 2006 and 2011, the size of the average household has increased from 2.61 to 2.63 – the first increase in 100 years of census data.
As CommSec economist Craig James says, prior to the mining boom wealth was concentrated mostly in northern Sydney, along with the inner suburbs of Melbourne. But now, Western Australia has taken over.
"The mining boom has significantly influenced the latest census results. Not only do mining and energy regions dominate the lists of highest personal income and highest household income, but they are also regions of significant gender imbalance with males dominating industry employment," James says.
"Overall, the top 13 regions for highest median personal income are in Western Australia," he says.
The data shows the towns with the highest median income are covered by the postcode 6710, with median incomes higher than $2,000 a week. Other mining-rich areas, including Newman, Bullfinch, Tom Price and Hamersley, all followed, with median incomes ranging from $1,915 to $1,824.
Other regions with the highest median personal income rates include Alyangula in Northern Territory at $1,552, May Downs in Queensland at $1,512, and Roxby Downs in South Australia, at $1,466.
In New South Wales, the postcode with the highest median weekly income was 2061, encompassing Kirribilli and Milsons Point, with earnings of $1,311. In Victoria, East Melbourne with its 3002 postcode recorded $1,164.
When incomes are ranked by calculating the percentage of households whose incomes are greater than $4,000 per week, Western Australia still comes out on top, with Dampier, 6713, at the top of the list with 22.3%.
Karratha, 6714, follows with 18.9%, while Port Hedland, 6721, rounded out the top three with 17.6%. Perth suburb City Beach, 6015, came in 7th with 16.1%.
The Ponds in New South Wales (2769) topped the list of areas with the highest percentage of mortgages at 81.6%, followed by Lyndhurst, Victoria (3975), at 75.1%, along with Doreen, 3754, at 71.3%.
Angle Vale, South Australia, (5117), ranked with 69.3%, followed by Banksia Grove, Western Australia, (6031), at 58.9%.
"There are 184 towns in Australia where more than 50 % of properties are rented and actually 33 towns having a rental rate of more than 90%," James pointed out.
"By contrast there are 84 towns where the rental rate is less than 10 %. Park Orchards (3114, Victoria) with 1,075 residents in eastern Melbourne has a rental rate of just 3.5%."
Another hint of Australia's wealth can be found in the statistics for unoccupied private dwellings – of which there are 934,000.
"While the definitive break-down is not yet available on the reasons why so many homes are vacant, the primary reason is more than likely that they are used for holiday homes or holiday rentals or are properties available for rent," James said.
These homes are also growing much larger. For the first time in 100 years, the average household size has increased from 2.61 to 2.63 people per household.
"As has traditionally been the case, remote towns with large indigenous populations in Western Australia, Northern Territory and Queensland dominate the rankings of household size. Burketown, Bathurst Island, Telfer, Binjari, Forrest (WA), Alice Springs and King Ash Bay are towns possessing highest household size."
"In capital cities, interestingly, suburbs in western Sydney such as Cecil Hills, Bonnyrigg, Bossley Park and Hoxton Park have the highest household size with around 3.4-3.6 persons per household compared with the national average of 2.63 persons."
The stats also show a significant gender gap, with the highest concentration of males in military sites, prisons and male-dominated industries such as mining, while the highest concentrations of women are near universities.
Kalgoorlie mining image by Graeme Churchard courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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pmcstafford-pr9eMARWoN

Resources boom making mining towns richest in Australia

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There was bounce in Melbourne auction clearance rates in the last weekend of school holidays, with 61% of homes selling under the hammer compared with 52% last weekend and 55% the same weekend last year.
There were 342 auctions over the weekend, with 208 selling for a combined $118.4 million and 134 being passed in, 84 of those on a vendor bid, the Real Estate Institute of Victoria (REIV) reports.
The median selling price was $611,500 for houses and $500,750 for units.
For the June quarter the clearance rate was 60% compared with 61% in the March quarter and 59% in the June quarter last year, with a median auction price of $701,000.
This was 2% lower than the $715,000 recorded in the March quarter.
In comparison, there were 493 private sales over the weekend with a cumulative value of $223.4 million.
Across the quarter, private treaty sales achieved better results for vendors, with prices rising by 2.1% to a median of $469,950 in the quarter.
Figures analysed by the REIV also show a definite shift towards more private treaty sales over the quarter
The REIV calculated a 23% drop in the number of homes sold at auction and a 14% increase in those sold privately off a similar volume of homes sold compared with the June quarter of 2011.
REIV chief executive Enzo Raimondo says this reflects “the traditional shift back to private sales in a range of suburbs when the overall market is flat”.
John Sommers, buyers’ advocate and valuer with McRae Property, told The Sunday Age the “really good-quality stuff is still selling and still selling well”, but properties with “any problems attached” were not selling well or not selling at all.
Over the weekend the top-selling house was four-bedroom Federation Queen Anne residence in Ivanhoe, dating to around 1908, which sold at auction for $1,625,000,  with the listing held by Miles Real Estate. Next weekend the REIV expects about 360 auctions. Sydney achieved a clearance rate of 58.8% compared with 56.2% last weekend, with 134 out a 199 properties selling under the hammer with a total value of $86.9 million, according to Australia Property Monitors.
The median auction price for a house was $733,500 and $652,000 for a unit.
Dr Andrew Wilson, senior economist at APM, says Sydney’s 58.8% clearance rate was the best for weeks.
“Momentum is growing despite slower winter season. Consistently better than same time last year,” Wilson tweeted.
The top seller at auction over the weekend in Sydney was a three-bedroom unit at Milson Point, which sold for just over $2 million through McGrath.
“Now that we are halfway through winter, we are seeing a clearer picture of the impact the cooler months are having on the property market,” says Real Estate Institute of NSW (REINSW) chief executive Tim McKibbin. 
“The past few weeks have seen the clearance rate remain just below 60%, however this figure is expected to increase from now until spring, along with the number of auctions held each week, which should rise to around 500 to 600.” 
The REINSW calculated a Sydney clearance rate of 63% over the weekend, with 172 properties sold and 100 passing in.
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Melbourne weekend auction clearance rate picks up to 61% but private sales on the rise: REIV 

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Although the clearance rate in Melbourne this week was a reasonably healthy 60% the buyers clearly had the upper hand as their compatriots were thin on the ground. Many auctions were passed in and negotiated shortly after.
For those who want to have a harmless punt, there's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/">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. 
When a property is passed in the balance of power immediately moves to the buyer, as was the case at 19 Lee Street, Flemington (pictured below). After a brief auction, where only one bidder appeared, the property was passed in for $800,000.
<img src="/images/stories/2012/07/leest.jpg">
For the buyer this was gold, as it gave him the opportunity to stand firm and drag out the negotiation. After extensive discussions lasting a couple of hours the property sold for $820,000. This price was $10,000 less than the top of the agent’s quoted range.
In Sydney auctions clearance rates were just behind Melbourne at 58.8%, but interestingly 28 or around 15% of the scheduled auctions were withdrawn. This indicates a significant number of properties had no interested parties, as a property is usually withdrawn if no one registers their intention to bid.
<img src="/images/stories/2012/07/birriga.jpg">
Four out of the five Sydney Property Tycoon auctions were sold. The top floor Art Deco apartment at 10/78 Birriga Road, Bellevue Hill (pictured above), sold under the hammer for $675,000. This result is what the majority of auction tippers expected, with the average tip being $670,000.
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