<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."

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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.

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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.

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Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

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S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

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The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

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With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

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Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

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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The marketing launch of the third tower in the $2 billion Central Park precinct in the inner-Sydney suburb of Chippendale has generated a quick 100 sales grossing about $60 million.
<img src="/images/stories/2012/06/themark4.jpg">
The sales in The Mark take the total off-the-plan sales of the urban renewal project to 800 amid the 1,400 apartments in the three towers now under construction.
<img src="/images/stories/2012/06/themark6.jpg">
It’s been at the rate of about 40 off the plan sales a month for the entire project since sale began.
Property developer Frasers has the Japanese property development firm Sekisui House as its joint developer on the 5.8-hectare, mixed-use site.
Works began in late 2008, and completion of the project is expected to take about eight years. One Central Park, which is due for completion by mid-2013 to a design by French architect Jean Nouvel, was the first building to begin construction. It has recorded the sale of 523 of its 623 apartments for a $409 million total, and Park Lane, the second tower has secured the sale of 195 of its 393 apartments for a $134 million total, according to Adam Sparkes, the group sales manager at Frasers Australia.
With prices starting at $480,000 The Mark is set to be a 27-storey tower, with 412 apartments designed by architects Johnson Pilton Walker.
<img src="/images/stories/2012/06/themark5.jpg">
 
<hr class="system-pagebreak">
 
Frasers Australia chief executive Guy Pahor says the current NSW stamp duty exemption on new dwellings under $600,000, which is due to expire on June 30, has “galvanised” some buyers.
“Strong sales in the sub-$600,000 price point are clearly motivated by the imminent deadline,” he suggests.
“We have yet to hit buyer fatique,” he says, with the aim that all 1,400 apartments in the main three towers will be sold by the time The Mark is completed in early 2014. Construction on The Mark began before its sales marketing campaign.
“We believe in the Sydney story of undersupply,” he says, adding it took “courage and conviction” to proceed in the face of “negative newspaper headlines”.
“There is no reason for the sales rate to change. But am I paranoid it might change? Yes.”
{qtube vid:=1Ydtj__5EL8}
While noting Sydney was not likely to record a rise in property prices over the next 12 months, Pahor indicated he was expectant Central Park would continue to maintain its consistent sales momentum.
With the Fraser brand well known in international property markets, The Mark also attracted $15 million worth of sales in one recent weekend in Singapore.
Only 25% of Central Park’s sales have been offshore.
The project with include several low rise apartments taking the total to about 2000, along with 77,000 square metres of commercial space, 23,000 square metres of retail space and 2,000 parking spaces.
It will accommodate about 2,500 residents and 5,400 workers.
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jchancellor-FAypfDUnLy

Frasers-Sekisui House Central Park sales quick off the mark, with 100 bought in third tower

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Despite yesterday’s media headlines to the contrary, the world didn’t end.  I am still breathing.  How about you?
So instead of Armageddon; Europocalypse; Death by Keen or something similar, we all seem to get by.  The Henny Pennys seem to have survived the farmer’s axe once again, only to live another day of worry.  Yesterday’s lacklustre 0.25 percentage point cut in the cash rate will no doubt have them all in a spin.
Well, stuff them all – today is something special.  It is an opportunity to take some time to reflect; an early New Year’s Day so to speak.
Today, for most Australians the Transit of Venus will be visible with Venus appearing as a black spot moving across the sun from 8.16am to 2.44pm.
Big deal?
Well it won’t be back until 2117 – yep, 105 years from now.  And just reflect for a few moments how much effort man used make to observe and measure this astronomical event – Captain Cook et al.
Today we have a free iPhone app to watch it, but somehow that isn’t the same as gazing upwards in wonder about where we, and it, are all going.
We humans seem to underestimate the good things and overvalue the utter rubbish.  And what we spend much of our time on these days, for mine, is increasingly plain bunkum.
So in this frame of mind – even more delicious given it is mid-week and all – here are my anti-bunkum things.
Rating agencies
Isn’t it about time that the real world turned its back on the self-serving, hypocritical, attention-grabbing, politically motivated vacuum heads called ratings agencies: Standard and Poor’s, Moody’s and Fitch?
Surely, there must be some other source of advice of this nature available from less biased, conflicted and publicly discredited sources than these, who often seem to be at the centre of conflagrations of their own making.
Daily and even monthly indexes
Top of the list is house prices.  Prices-schmices.  What is the fascination with regular property price indices? Give it a rest guys, you need to be in it for the long haul.  Frankly it is all just white noise.
And in fact, what is measured is also plain bunkum.  The median or average price – regardless of when or how frequently it is measured, or on what geographic scale – will have no bearing on what your property is worth or how much you should pay.
Reality TV
I mean come on!  Reality my backside, what with five camera angles; metal screws in Bear’s handmade bamboo ladder; planning a meal in five seconds after being told the two key ingredients, etc.  And everyone in the house watching it on their own plasma, computer or Apple TV.
Give me a board game any day of the week.  Or better still, a good book, although I am quite partial to Seinfeld &amp; NYPD Blue re-runs – and I could re-watch The West Wing series anytime.
But if you are going to watch something on the idiot box, get everyone at home involved.  Whatever happened to the Sunday night family movie?
Air-conditioning
Oh, what crap it is.  Yes, it helped make Singapore and other Asian centres what they are today, and helps make living in the tropics more bearable.  True, too, it creates white noise – the good kind this time – to help one live downtown.
But give me a fireplace in winter and a big hat over my house (overhang for those youngins who haven’t seen an eave) in summer.  In fact, a fire makes a bloody good replacement for the TV too.  Nature’s own entertainment and a friend in the bush.  Oh, how far we have strayed from the things that are really important, well at least from what many older boomers commute halfway around the country for.  They might be onto something there.
Modern cuisine
Fancy food, lots of silly names and service as “cold as Christmas” as the saying goes.  Give me a home-cooked meal like Mum still makes, and dish me up some decent service, a smile and a whole lot of personality and I will be back with my family and friends every time.
And when at home, the simple meals are often the best – toasted cheese sandwiches; home-made pizzas on the Weber; eggs (with Belle’s bacon of course) on toast; tomato soup with crusty bread – and all hassle free, everyone relaxed and eating together.  And yes, even in front of that elusive Sunday movie on TV.
Modern living
I am an analogue man.  Joe Walsh’s new album out later this week – just two sleeps left Australia – is titled such.  Yes, I use Apple everything but not all the time.  When I get home – it helps when the actual service at home is lousy – it is everything off until the next day.
Why not take a bath, have an afternoon nap (and on both Saturday and Sunday) or sit in the sun for a good while every now and then?  Go see your adult children rather than Skype or text them.  What is all the rush about?
Yes, I know it is easier said than done but what, if anything these days is the Transit of Venus actually good for?
iTunes
Now we are getting on some shaky ground here.  Moving into some bloody murky waters, Michael, given the amount of music I download from Apple.  But I never download a single, always the whole album.  In fact I don’t like the term album – music, as Jackson Browne often discusses on stage, is a record – a record of events of that time or place.  Good records resonate with many listeners; great records resonate deeply with you.
I often listen to Born to Run; Late for the Sky; Blue Valentine or Bella Donna, to name just a few, in their entirety; almost always by myself, in the quiet and often in the bath.  Candles glowing and incense burning if you must know.  Right now I am quite into lemongrass stink sticks.
Gutless
Yes, I am talking to you, Anonymous.  Bloggers who aren’t prepared to give their full name when replying get treated as spam on my blog.  Have the guts to stand by your convictions.  All we have, when it is said and done, is our name.
In an increasingly post, post, post-modern world showing one’s face is a rare thing.                                                        You of course have your own list.  And if you don’t maybe today might be a good one to start one.
As you read this blog this morning, I won’t be rushing to work.  This Transit of Venus will be my last and I won’t be wasting it.
So it’s goggles on folks and look up at your own peril, and don’t complain to me if you find what you are looking for.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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michaelmatusik-49YzLvdmNv

S&P, Moody’s and Fitch self-serving, attention-grabbing vacuum heads

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G7, 199 Pyrmont Street, Pyrmont, NSW, 2009
<img src="/images/stories/pyrmont1.jpg">
The tenants of this two-bedroom Pyrmont apartment are paying $730 per week and are on a lease until September this year. Within the Casino Gardens building, the apartment includes an internatl laundry, and the building has a swimming pool and gym. It is within easy walking distance of Darling Harbour and the CBD. The property sold to an investor on Friday, June 1, before its scheduled auction on June 2 for $590,000. This secured the investor a gross rental yield of 6.4%, significantly above the indicative gross rental yield for Pyrmont units of 5.1%, 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. Kho and Lee Property Group agent Sami Yildiz gave pre-sale price hopes in the "early $600,000s".
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $12,000 and over five years to be $42,000.
The median unit price in Pyrmont fell by 4.3% in the past year, according to RP Data.
For more about prices and yields in Pyrmont, see the RP Data suburb page.
 
<hr class="system-pagebreak">
27 Main Road, Neerim South, VIC, 3831
<img src="/images/stories/neerimsouth.jpg">
An investor bought this three-bedroom house for $224,000 at its weekend auction. The current tenants are friends with the vendors and are paying significantly below-market rent of $170 per week. They are on a lease until December, but listing agent Pauline Soutar of Harcourts says market rent for the house would be about $250 or $260 per week. The house is on a large 1,115-square-metre block and is within walking distance of shops and transport.
The sale price reflects a gross rental yield of 4% at its current rental, or potentially 6% if it is later rented out for $260 per week. 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.
Soutar suggested pre-auction price hopes of $230,000 plus.  
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The median house price in Neerim South fell 11.5% in the past year, according to RP Data.
For more about prices and yields in Neerim South, see the RP Data suburb page.
 
<hr class="system-pagebreak">
 
27 Grace Street, Cabramatta, NSW, 2166
<img src="/images/stories/graceave.jpg">
In the popular Sydney suburb of Cabramatta, this three-bedroom house is on 658 square metres and is close to Cabramatta high school. The $400 a week lease has expired, but LJ Hooker agent Patrick Yeung says the tenant is keen to stay on and that $400 per week is market rent for the area. The property was passed in at an undisclosed price at its weekend auction
Yeung<a target="_blank" href="https://www.ljhooker.com.au/442F8S"> gave pre-auction price hopes of</a> $380,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.5%, well above the indicative gross rental yield of 4.1% for Cabramatta 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.
Yeung recently sold a nearby property for $435,000 that was in much worse condition but in a better location than the Grace Street property. The tenants in that house paid $330 per week. The median asking rent for Cabramatta houses is $380 per week.
<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 $4,000 and over five years to be $10,000.
For more about prices and yields in <a target="_blank" href="/news">Cabramatta, see the RP Data suburb page</a>.
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Investor form guide wrap: Investor snaps up gross yield of 6.4% in Pyrmont

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About 60% of the apartments in Sekisui House’s development St Tropez have been sold about two months after the development came onto the market in late March.
<img src="/images/stories/2012/06/sttropez4.jpg">
St Tropez is the last and the most prestige development in Sekisui’s The Waterfront project at Wentworth Point, about 16 kilometres from Sydney CBD.
The developer has sold 93 of the 154 one-, two- and three-bedroom apartments thus far. There will be 32 one-bedroom apartments, which will range from 50 to 67 square metres and will start from $425,000. The 91 two-bedroom apartments will start from $575,000 and will range from 78 to 100 square metres. The 31 three-bedroom apartments, which start from $800,000, will be between 111 and 187 square metres.
<img src="/images/stories/2012/06/sttropez2.jpg">
Of those that have sold, 60 are under the <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">NSW government's $600,000 threshold for the home builder's bonus</a>, which exempts investors and owner-occupiers from stamp duty on properties under this price point. The bonus expires on July 1. There is just one apartment, a one-bedroom unit, remaining for under $600,000.
<img src="/images/stories/2012/06/sttropez3.jpg">
Wentworth Point is a relatively new suburb, having been officially named in October 2011 and now home to about 5,000 residents. The suburb was formerly part of Homebush Bay and is adjacent to the suburb of Olympic Park. The median sale price for apartments in Wentworth Point is $478,000, and the median price went up 5.1% in the past year, according to RP Data. The median asking rent is $490 per week, and the indicative gross rental yield for Wentworth Point apartments is 5.3%.
<img src="/images/stories/2012/06/sttropez1.jpg">
“The Waterfront has become very well known, with residents in surrounding suburbs and many – even some existing residents within the immediate community - have been waiting for their chance to buy into St Tropez,” says Paul Wainwright, Sekisui house sales and marketing operations.
Wainwright says St Tropez appeals to both owner-occupiers and investors.
“Rental vacancy sits at less than 2% in this area, so interest from investors has always been strong. But buyers looking for the prestige of a waterfront apartment to call home are also making their move. They know this is their last chance,” he says.
Sekisui House is also behind <a href="https://www.propertyobserver.com.au/land/environmentally-minded-buyers-snap-up-sekisui-s-western-sydney-project-the-hermitage-perhaps-drawn-by-satoyama/2012030753713">The Hermitage</a>, a master-planned community in the brand-new Sydney suburb of Gledswood Hill, and<a href="https://www.propertyobserver.com.au/new-south-wales/time-running-out-for-stamp-duty-free-purchases-at-sydneys-central-park/2012030653714"> Central Park</a>, in partnership with Frasers, in Chippendale.
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Almost all sub-$600,000 units in Wentworth Point development St Tropez sold as NSW build bonus deadline looms

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There are many residential investment opportunities in NSW under the magical $500,000 mark, according to the Westpac Property Report, a quarterly snapshot compiled by valuation firm Herron Todd White (HTW).
Herron Todd White CEO Brendon Hulcombe says the report “challenges the notion that owner-occupiers and investors have limited choice on a tight budget when it comes to purchasing property”. “The slowdown impacting markets over the past 12 months has provided exciting buying opportunities,” Hulcombe says.
“Quality properties that a few years ago would have been well beyond this price bracket can now be secured for $500,000, in some cases with change to spare.”
HTW’s NSW state-based team has identified opportunities under $500,000 in western Sydney, in the Newcastle and the Hunter region, on the central coast and on the mid-north coast where yields can be as high as 8% –  well above the savings rates being offered by banks.
Sydney
In the capital city, a budget of $500,000 limits investor options to units or lower-quality houses in the city’s western suburbs, according to HTW.
Unless investors have an underlying need to own a house in this region, HTW valuers suggest considering the apartment market, which will “generally deliver a wider choice of locations, stronger rent returns and more stable capital growth.
“If we focus on the apartment market, the central western suburbs of Auburn and Parramatta offer the strongest yields, typically between 5.4% and 5.7%. The area’s median price of $370,000 will fund a reasonably modern 2-bedroom apartment.
“For investors seeking longer term capital growth, inner ring suburbs like Neutral Bay, Leichardt and Randwick have historically recorded stable price gains, and this is expected to continue over the coming years,” HTW says.
Hunter region and Newcastle
According to HTW, there are good investment opportunities under $500,000 across the Hunter region.
“Rental vacancies are very low at 1.5% and rental growth is strong, taking many properties close to being cashflow positive.
“It is worth focusing on areas with proximity to major employers, as these offer year-round tenant demand. Waratah, Jesmond and Shortland for instance are all close to either major Newcastle hospitals or the University of Newcastle,” says HTW.
HTW picks the Hunter Valley towns of Singleton, Rutherford and Aberglassyn as good investment opportunities, with all benefiting from the strong mining sector with “very healthy” rental growth.
“Plenty of new housing stock is becoming available, and these properties offer more generous depreciation allowances than older dwellings,” HTW says.
Central coast
The median house prices for Gosford and Wyong is currently $400,000 and $325,000 respectively, which gives investors with a $500,000 budget a multitude of options on the NSW central coast, notes HTW.
The investment opportunities vary widely, from a house in Woy Woy or a unit at Umina to a holiday letting in Avoca.
NSW valuers from HTW say there has been a noticeable escalation of investor interest in San Remo, Blue Haven, Narara, Umina Beach and Woy Woy, with yields ranging from 4.5% to 6%.
Mid-north coast
HTW advises investors consider the option of purchasing two or more properties at the lower end of the market, where “rental vacancies are very tight, yields are high and there is greater potential for capital growth”.
“As a guide, in Port Macquarie and Forster it is possible to buy an older-style two-bedroom unit close to the beach for less than $250,000.
“Alternately, pre-1975 houses close to the town centre or modern villas suitable for retirement can be purchased for under $350,000,” says HTW.
In the small country towns of Taree and Kempsey, HTW says investors can afford to purchase three dwellings and recommend targeting prime locations – “notably older houses on large lot sizes”.
“The older part of Taree West, which was developed pre-1985, offers excellent value for money with a good selection of houses currently listed for sale for less than $250,000.”
Some former Department of Housing properties can be purchased for less than $125,000. These properties are returning rental yields in the order of 7% to 8%.
HTW valuers also note that in the current weak market both investors and owner-occupiers stand to benefit from a growing number of forced sales.
“This is being exacerbated by an oversupply of modern high-rise units in Forster, and weakened demand in the $450,000-plus price range throughout the greater Taree area.”
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High-yielding investment opportunities for under $500,000 in NSW include western Sydney and regional areas: HTW

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Eight apartments in The Rose Group’s $2 billion Breakfast Point development in Cabarita sold over the weekend, with buyers cashing in on NSW stamp duty concessions before they end in less than a month. Four of the sales were to first-home buyers.
All eight properties bought were one-bedroom-plus-study apartments and sold below the $600,000 threshold for accessing the <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">NSW home builders’ bonus</a>, which ends on June 30.
A spokesperson for The Rose Group told Property Observer three first-home buyers had purchased in the recently released Sirius building (below) and one in the previously  released Scarborough building (second photo).
<img width="470" src="/images/stories/2012/06/breakfast1.jpg">
<img width="470" src="/images/stories/2012/06/breakfast2.jpg">
The NSW home builders’ bonus provides full exemption on stamp duty for new homes where the value does not exceed $600,000 and also applies to vacant land up to $400,000.
The scheme is available to everyone, including investors, who purchase a new house or apartment. For homes already under construction, a partial stamp duty reduction of 25% is available up until June 30.
According to Bob Rose, group chief executive of the Rose Group, about 170 buyers in Breakfast Point have claimed the stamp duty concession to date. He says many of these are first-home buyers.
Rose told The Australian Financial Review he was not worried about the ending of the stamp duty rebate impacting on sales in the masterplanned development.
Upon completion in 2016, the 52-hectare waterfront development will accommodate 1,865 homes and house up to 5,000 people.
In May last year, the $2 billion project reached the $1 billion sales milestone, with more than 1,300 homes and apartments sold over the past 11 years by its joint developers Rose Group and Cbus Property.
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Breakfast Point buyers cash in on NSW builders' bonus before it expires July 1

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Auction clearance rates have been higher in 2012 than they were over the second half of 2011, but they remain quite low on an historic basis, reflecting the overall weak housing market conditions.
Despite the fact that capital city home values have fallen by 0.7% over the first four months of 2012, there has been an improvement in capital city auction clearance rates. Auction clearance rates provide one of the timeliest indicators of market sentiment and they have averaged 48.9% week-to-week in 2012 compared to 46.5% week-to-week over the second half of 2011.
The improvement in clearance rates has only been a subtle one; however, over the second half of 2011 auction clearance rates across the combined capital cities broke the 50% barrier only once. Over 2012 to date, auction clearance rates have been above 50% on nine separate occasions. Although there has been an improvement in clearance rates, they remain well below those levels recorded in 2009 and 2010, when property values were increasing quite strongly across most capital cities and, in particular, across the two markets in which auctions are a more popular form of sale (Melbourne and Sydney).
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As a result of the overall improvement in auction clearance rates, most individual capital cities have also typically been recording higher success rates at auctions. In Australia’s largest auction market, Melbourne, clearance rates have averaged 52.8% this year compared to 50.8% over the second half of 2011. In Sydney, clearance rates averaged 50.2% over the second half of 2011 compared to 51.9% over 2012 to date. These two capital cities accounted for more than 81% of all capital city auctions over the 2011 calendar year. Across every other capital city, except for Hobart and Canberra, the average auction clearance rate this year has been higher than it was over the second half of 2011.
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Although auction clearance rates have improved over 2012, the average number of properties going to auction has reduced. There are, on average, 17% fewer properties being taken to auction each week this year than there were over the second half of last year. Although auctions are proving to be more successful than they were last year, fewer auctions are taking place. This is, though, somewhat reflective of the fact that the total volume of properties available for sale has been at lower levels this year than it was over the second half of 2011, as well as the fact that fewer properties are listed for sale.
 
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In comparison with the average number of weekly auctions over the same period last year, there are currently 22% fewer auctions taking place each week.
 
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Auction clearance rates provide a very good lead indicator as to the performance of the housing market and the sentiment of buyers. It is, however, important to note that in 2011 auctions only accounted for 20.4% of all capital city house and unit sales. This is also reflective of the results over recent years and highlights that auctions are something of a niche market.
Of course, not every property is going to be a candidate to be taken to auction. If the subject property is fairly standard there is often little benefit in taking it to auction, whereas many believe that unique and prestige homes should be taken to auction to get the best price. The auction market is certainly more reflective of the prestige housing market, considering that 20.4% of all capital city homes sell at auction, however, these sales account for a much larger 27.5% of the total value of capital city home sales. These trends are replicated across each capital city except for Hobart.
Across individual capital cities there is a varying degree of popularity surrounding auctions. In Melbourne, auctions are the most popular of all capital cities, accounting for 31.6% of all sales, followed by Sydney (23.6%) and Canberra (17.2%). In every other capital city, market auction sales account for less than 15% of all capital city home sales. The results show that, overwhelmingly, most vendors prefer to sell by private treaty and, presumably, most purchasers prefer to buy via this method as well.
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Overall, it is important to recognise that auctions comprise only around one-fifth of the overall capital city housing market and tend to reflect the performance of higher priced homes. Nonetheless, auction clearance rates are a good, timely indicator of market sentiment and it is encouraging that they have been stronger in 2012 than they were over the latter part of 2011.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany.</a>
Cameron Kusher is senior data analyst at <a href="https://www.rpdata.com.au/" target="_blank">RP Data.</a>
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Auction clearance rates improving but still at low activity levels: Cameron Kusher

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Over the past few weeks I have been taking a detailed look at the topic of stamp duty on property and how among other related issues, various state governments manipulate stamp duty in the housing market.
They do this to stimulate activity, however they are in effect adding an incentive to the market. Incentives in any free market are not new and in a project marketing setting they also have a function that extends beyond government to the development community.
The developer’s incentives
From a general marketing perspective the arrival of very big incentives, like the government incentives we saw in 2007, usually signal that the health of the market is not good. This usually results – and did at the time – in developers adding further incentives to the marketing mix, and not just incentives aimed at first-time buyers.
Depending upon prevailing conditions, such incentives in combination can add up to considerable value.
That could reach (as they did in 2007) as much as $40,000 or even $60,000, which is a valuable incentive to a buyer looking at homes in a middle price range. The total incentive on offer can be made up of a mix of grants, stamp duty concessions and developers rebates.
But an interesting question is: how do buyers react to such incentives? In particular when these incentives contain big contributions from the developer or with project homes from the builder.
A big topic of conversation is how should they be used in the promotional mix and what the pitfalls are when the incentives are either reduced or no longer available. It’s also worth considering if incentives are more or less always part of the “offer”, or do they simply retreat at different times and change form.
Or is it simply a reality that for the foreseeable future such incentives, both from the private sector and as a part of government policy, will be a fixture of the housing market?
A valid and long-term marketing tool
If we look at the impact of incentives and how “normal” they have become, in particular for first-time buyers, it does appear they are here to stay. But is this surprising? After all, buyer incentives are a part of almost all free-markets. Coupons (a way of life in the US), two-for-one offers, petrol savings, frequent flyer points, sales and discounts – the list is endless.
For some major parts of the residential property market, incentives have to some industry observers usually been associated with tough times. But is this the reality?  It could be more constructive to consider incentives as a valid part of a normal promotional mix, as it appears they become more common.
Many do not involve any sort of direct price discounting. This is in contrast to the private treaty market, where price alone is the only real mechanism to influence buyers.
I also suggest that it could be reasonably argued that being on an early release VIP list with a project is in fact a form of incentive, as it implies an advantage of time and possibly price. We can appreciate this is a logical goal from the perspective of many buyers.
The use of incentives can and does play a positive part of the project marketing arsenal. If incentives are well considered sales can be encouraged and the time scale of projects and holding costs reduced, possibly boosting the eventual return.
Just as with a major department store, any retailer or car manufacturer, holding unsold stock is an expensive thing and the cash tied up can delay other development opportunities. In a full sales path incentives should be seen as valid marketing tools, not an emergency Band-Aid or quick fix, and so they need to be deliberately and carefully managed.
 
 
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Buyer incentives
If incentives are used there will be some core points to consider. When should buyer incentives be used in project marketing matrix? What impact do incentives have on core brand values? Has the market grown tired of incentives or are they so much a part of the marketing offer that they are now a must? Or despite the wide spread use of incentives are they viewed with distrust among buyers?
There is little doubt that big-ticket incentive like the various state and federal government first-home buyer grants do work and can work fast, and they are more or less seen as permanent fixtures. Buyers like them and do not appear to consider them as panic tactics, and they are seen as a valid financial boost.
Some people in the industry will always comment that incentives are a waste of time, a negative. They say things like “any buyer will know that the free car or some other offer has been factored into the price”.
Or “do you want to live in a community where every second person drives the same free car or has the same free appliance package?”
Despite this type of feedback incentives are used and will continue to be used. Comments like the examples quoted are more likely to be associated with a now out-dated approach to incentives, when they were used in a much less focused and strategic way.
Incentives can be used in a very positive way and they can have a major financial value. Marketing budgets and the impact on the true net sales price are factors that have to be taken into full account. They will impact the cost of each sale as a valid marketing cost.
Positive incentives also help to foster a happy customer. Long after a sale is complete it might be the high-end new barbecue that buyers boast about to their family and friends, while the house itself fades into everyday life.
Many major project home developers now use upgrade packages, priced as incentives as a key part of their brand offer.
I have already pointed to the need to plan and manage incentives with care, because despite the spread of incentives in some markets they may need to be avoided and other ways found to encourage sales.
There is also some observation that in particular markets, some financial institutions have been discounting values by the worth of incentives and this can have a flow-on impact and so reduce the buyers’ borrowing capacity.
Nevertheless there needs to be a full appreciation of how incentives impact the market and how best they should be used in building a strong sales path for individual projects.
Peter Chittenden is managing director for residential of <a target="_blank" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International</a>
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When incentives should be used in marketing a new development

No auction cash bonanza for Larry Emdur as prestige sale volumes slump in every state

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Last week I hosted a business seminar that allowed me to speak to people on Main Street and see the current environment through their eyes. There is understandably quite a bit of confusion and hesitation among business owners looking to grow and manage their businesses effectively, so I thought I’d go back to basics and talk a bit about strategies and setting up for success.
Firstly, have a plan: A plan can change and it can be improved as you move forward, but without it you really don’t have a sense of where you’re trying to go. You need a plan.
A plan should start with your goals. This should include a clear sense of what you want from your business – financially, professionally and personally. I have known people who have focused on simply one of these, and they’ve become demotivated. You must define how much money you want to earn from this enterprise; you must have a clear goal about what kind of professional glory you are pursuing; and you should define personal happiness before starting a business.
A plan must also include marketing plans, key employees, financial and corporate structures, protections such as insurances and a really good system that tells you if you’re succeeding.
This last one is something that many first-time business owners ignore. However, adopting key performance indicators and judging your business against them is crucial. It’s the method by which you judge whether the plan is working.
Your plan should also delineate shareholders, investors, partners and the exit strategy.
I advise business owners to think carefully about whom they take on as a partner or investor – the right partner can be the best thing you ever did because that person can be a mentor, a war buddy and someone to share the pain and the wealth with. You want a good partner, but you want to be a good partner, too. The same goes for investors – the best one may not be the one with the most money, but the best contacts and the most experience.
And then there’s exit strategy. Anyone who’s already owned a business will tell you that it’s worth thinking about your exit before you start a business. Many business ventures end in organised liquidation, trade sale or internal buy-out. And how that works is dependent on the structure and decisions about shareholding and rights, etc.
It’s worth discussing this with your accountant or solicitor before starting a business. And I always advise business owners to state in their plan what value they want to build the business to. That is to say, if a large business were to bid to buy your business, what price would you want and what kind of sale would you want?
Once you start planning for these goals, you realise that you have to make certain structural decisions before you start the business.
So I think very highly of planning. I’ve started, invested in and sold many businesses and I’ll do it all again in the future. And I don’t take any serious steps until I have a plan – a road map for success.
Lastly, let me give you a good template for a business owner’s personality: work, play, fight, love, believe.
You must want to work, you must plan for downtime away from work, you must be prepared to fight for what’s right and for your business, you must have a love or a passion for what you’re doing, and you must arise each morning with a ton of belief in what you’re doing and where you’re going.
Good luck!
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a target="_blank" href="https://twitter.com/#!/markbouris">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
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