<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;

Joel Robinson

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

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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Despite all the attention the mining billionaires get, property still retains its status as the major source of wealth for BRW Rich listers.
Some 54 of the wealthiest 200 have property as the source of their wealth.
Next follow those who made money from services (28) and then resources (22), investment (21), retail (20), then rural, technology, manufacturing, entertainment and construction.
Frank Lowy’s $6.47 billion wealth holds third place behind Gina Rinehart and Ivan Glasenberg.
Then Harry Triguboff sits in seventh place, with an estimated $4.85 million wealth.
John Gandel is ranked 10th with a $3.45 million worth.
Their presence highlights that membership of the BRW Rich List is rapidly getting older, and lacking new younger?names making their fortunes.
Frank Lowy is 81 with three sons, Harry Triguboff is 79 and two children, and Gandel is 77 years old with four children.
Property developer Lang Walker is a spritely 66 – worth $2.1 billion in 13th place with three children – at 89 Stan Perron is in 15th place at $2.05 billion with three children; in 20th place the 87-year old Maurice Alter has a $1.5 billion net worth with two children.
All up there are 17 octogenarians on the rich 200 list – the oldest is Sydney publican and property developer Cyril Maloney at 92, with an estimated $360 million worth and four children.
Just 15 members on the Rich 200 List are younger than 50, partly because a generation of entrepreneurs came unstuck during the GFC. The 41 year old Melbourne property developer Ashley Williams - from Evolve Development - made his debut onto the list this year with a $215 million estimate worth.
A further 38 are aged between 50 and 59, which puts 145 Rich listers aged 60 or older.
Succession planning will provide plenty of headlines in future years.
Somewhat conservative for the current chastened times is how AFR reporter John Stensholt describes the rich at the moment.
Though the Financial Times did report of the weekend that James Packer’s Ellerston polo team is set to return to UK high-goal season this year.
More than £20 million has been spent on the new polo centre in the West Sussex countryside by Packer, the FT noted.
“Fears that Packer’s polo-playing son James could lose interest in the game following his father’s death a few years ago proved unfounded,” the FT polo supplement advised.
It was two years ago that planning permission was given for the Packer polo run at Manor Farm, at the tiny village of Selham, near Midhurst.
The local paper the West Sussex Gazette then reported the farm had been given a change of use permission by Chichester District Council despite protests from villagers at the Cowdray estate-owned 134-hectare holding.
It’s is not far from Great House Farm, the 38-hectare polo complex at Stedham, owned by his late father, Kerry during the 1980s. Kerry Packer sold the house to Roman Abramovich, the Russian oligarch, and his polo fields to Filipino banker Bobby Aguirre.
Manor Farm now comes with two polo playing areas, a horse walkway and all-weather exercise track with the existing dairy buildings converted to stabling and seasonal accommodation for grooms and a clubhouse for the famous Ellerston team. The farm is opposite the Ambersham polo grounds.
Last year the Argentine for­mer 10-goaler Gonzalo Pieres, who played with Kerry throughout the 1990s, suggested Selham will be the new Stedham.
“They have done everything right, and the grounds are amazing,” Pieres said.
Pololine.com report that the Ellerston team "will have a very interesting change" in one of the elite competitions.
"Patron Jamie Packer will only play the Gold Cup, and his place in the Queen's Cup will be taken by Spain's Iñigo Zobel, the patron of Ayala Polo Team in Sotogrande," the leading <a target="_blank" href="https://www.pololine.com/?lang=1&amp;sec=2&amp;note=1275&amp;pag=0">polo website </a>reported last month.
The Veuve Cliquot Gold Cup team is given as "Ellerston: Jamie Packer (1) (Iñigo Zobel juega la Queen's Cup), John-Paul Clarkin (8), Gonzalo Pieres Jr. (10), Tomás Garbarini (3)"
James Packer, who last played English high-goal polo in 2008, could apparently whack the ball a good 150 yards.
The latest arrivals on the polo circuit, the FT reports, are wealthy Chinese polo clubs reigniting China's elite passion for the sport.
Played by the Persians some 2,500 years ago, polo was adopted by the Tang Dynasty, who ruled China from 618-907 AD.
Apparently four big-spending Chinese polo clubs have opened in the past eight years. starting with Beijing's Sunn Times clun in 2005 and Shanghai's Nine Dragons club in 2008.
Tang Polo Club near Beijing and Tianjin’s Goldin Metropolitan, backed by Goldin Group, the investment company owned by Pan Sutong, the Hong Kong property magnate, host international tournaments having imported more than 100 ponies from Australasia and Europe, the FT noted.
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Succession plans worth watching once BRW rich listers get back from the summer polo season where James Packer's Ellerston rides again

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Although more than $8 million was initially hoped for, a $7.77 million Brighton waterfront auction result has buoyed top-end market sentiment.
Especially as there were three bidders at the chilly onsite Marshall White auction once auctioneer John Bongiorno indicated it was on the market at $7.2 million. Another five had registered, but didn't get to bid.
"There is a market for correctly priced property," John Borgiorno said post-auction acknowledging the need for agents to have appropriate pricing expectations.
It was in 2005 when John established the then Melbourne residential record for a sale under the hammer on The Esplanade, Brighton which sold for $7.61 million.
Buyers’ agent Mal James described the weekend offering as “the best of the best of Brighton waterfront position-wise – opposite the dog beach”.
James calculated that the price reflected close to $10,000 per square metre for the 600-square-metre waterfront portion and the rear 600 square metres at $3,000 per square metres.
“The biggest auction for the year and the biggest I can remember for some time,” James said of the invitation-only auction.
The four bedroom house, on a 1,261-square-metre cul-de-sac block with 18 metre foreshore frontage, was part of a deceased estate, having been held in the same family for 25 years. It was listed through Barb Gregory at Marshall White.
The owner is expected to build a new house on the Seacombe Grove block.
"This is an open and fair market," Mal James noted.
"The market sure ain't dead for the well priced good stuff," he added. 
Melbourne’s overall clearance rate eased to 59% from 586 reported auctions with some 86 results yet to be tallied. There was a 61% success rate in the prior weekend, according to the Real Estate Institute of Victoria. The clearance rate had been over 60% for three consecutive weekends, the first time that had been achieved for 14 months.
On the weekend Brighton and Brighton East auctions resulted in eight sales and eight passed in.
Sydney agents secured a 56.6% clearance rate, which was lower than the 58.1% of the previous weekend, according to Australian Property Monitors.
 
 
 
 
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Brighton waterfront $7.77 million sale buoys Melbourne’s top-end market

<html><body>Australian Property Monitors (APM) has released a list of results from 334 auctions in Sydney for the weekend of May 26. The clearance rate was 56.6%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 334 Sydney auction results show 56.6% clearance rate

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A 10-storey timber building, the tallest of its kind in the world, has today been launched in Lend Lease’s Victoria Harbour precinct.
Known as Forté, the $11 million will be built at 807 Bourke Street in Victoria Harbour and will be Australia’s first first timber high-rise building.
The building will rise to 32 metres and will be built with prefabricated wooden panels made from cross-laminated timber (CLT) and will feature 23 apartments.
<img src="/images/stories/forte1.jpg">
The multiple timber layers are glued and then pressed given them the structural strength similar to concrete or steel, allowing the building to bear the load of the 10 storeys.
<img src="/images/stories/forte2.jpg">
There will be seven one-bedroom apartments (59 square metres) priced from the mid-$400,000s, 14 two-bedroom apartments (80 square metres) priced from the late $600,000s and two penthouse apartments with two-bedrooms (102 square metres) priced from $800,000. The ground floor will be for retail space.
<img src="/images/stories/forte3.jpg">
In addition there will also be four townhouses.
More pictures on page 2.
 
<hr class="system-pagebreak">
 
Work on the site commenced in February with a targeted completion date of October – quicker than it takes to build some single-family houses.
<img src="/images/stories/forte5.jpg">
The project was officially launched by Lend Lease’s CEO for the Australian Business Mark Menhinnitt along with Victorian Premier Ted Baillieu, who says Forté will be a driver for "a new environmental footprint in Australia".
<img src="/images/stories/forte4.jpg">
"It means less energy and fewer emissions and will put Victoria at the forefront of sustainable design," says Baillieu.
It will also seek to be the first five-star green star as built certified residential building in Australia. Forté will reduce carbon emissions by more than 1,400 tonnes when compared with concrete and steel – the equivalent of removing 345 cars from Melbourne roads.
The Forté apartments will require 25% less energy to heat and cool than a typical apartment.
<img src="/images/stories/forte6.jpg">
Menhinnitt says the project will “unlock a new era for sustainable development by offering a viable alternative to traditional construction options, which are carbon intensive”.
He says Lend Lease will look to establish a "viable supply chain" for the CLT product and will also look for other applications for the product. Lend Lease is aiming to develop 30% to 50% of its apartment pipeline using CLT.
It will rise 2.42 metres <a target="_blank" href="/news">above the current highest timber building, a nine-storey, 29-apartment residential building in Hackney, London called the Stadhaus</a> (below), which was completed in January 2009 at a cost of £3.5 million ($5.6 million).
<img src="/images/stories/stadhaus.jpg">
The Stadhaus was designed by architects Waugh Thistleton in collaboration with structural engineers Techniker, and timber panel manufacturer KLH.
It was the first high-density housing building to be built from pre-fabricated CLT panels, the same technology that will be used to build Forté in Docklands.
Forté won’t be the tallest timber high rise for long, with Grocon planning on building a timber high rise on the old Carlton &amp; United Brewery site called Delta and due to be completed by 2014.
Using the prefabricated panels means a timber building can be built very quickly, explained Grocon building manager David Waldren following the launch of the project last year.
 
 
{module Would you buy an apartment in a timber building?}
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Lend Lease’s Docklands project Forté will be world’s tallest residential timber building

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66 Lumby Drive, Bateau Bay, NSW, 2261
<img src="/images/stories/bateaubay.jpg" width="470">
This eco-smart four-bedroom home has 1.5kW solar panels and is currently leased at $385 per week, which is at market rent for Bateau Bay houses. The tenants are on an expired lease but are keen to stay on. The house has recently been renovated and has new downlights, carpets and air-conditioning and has a front veranda with valley views.
LJ Hooker agent Paul Witney<a href="https://www.ljhooker.com.au/1MFH3X" target="_blank"> is marketing the property</a> with price hopes of $299000 plus, and if it sells for $299,000, that would secure an investor a gross rental yield of 6.7%, well above the gross indicative yield of 5.1% for Bateau Bay 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.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.
The median house price in Bateau Bay increased 1.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 16 at 10am.
For more about prices and yields in Bateau Bay, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
<hr class="system-pagebreak">
27 Main Road, Neerim South, VIC, 3831
<img src="/images/stories/neerimsouth.jpg">
The tenants of this three-bedroom house 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.
Soutar <a target="_blank" href="https://www.harcourts.com.au/Property/441063/VDN8482/27-Main-Road">is marketing the property</a> with price hopes of $230,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 3.8% at its current rent. A rental of $260 per week would secure an investor a gross rental yield of 5.9%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 2 at 10.30am.
 
 
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Friday form guide: Yields of up to 6.7% in Bateau Bay

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Apartment construction in Melbourne is likely to peak in 2013 with as many as 14,000 apartments being completed, according to forecasts by consulting and valuations firm Charter Keck Cramer (CKC). 
However, in 2014 the great spurt in the apartment construction, which kicked off in 2011, will at least halve and possibly fall as low as just 4,000 apartments, taking the market back to average annual rate achieved from 2000 to 2011, the firm says.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/ckcmay24.gif"><img src="/images/stories/ckcmay24thumb.gif"></a>
Source: Charter Keck Cramer
In total, about 31,000 apartments are set to be completed or commence construction between now and 2014, with most of these to be built in the inner city.
Around 7,500 apartments will be built within 10 kilometres of the city, more than 4,400 in the middle to outer ring, and only 800 in the outer-growth areas.
Since 2010 apartment construction in Melbourne has risen steeply, with 5,000 constructed in 2010 and nearly 8,000 constructed in 2011 – compared with the annual average of just over 4,000. 
Most of this has been with a 2.5-kilometre radius of the CBD. 
About 9,000 apartments are under construction currently. 
According to 2013 estimates, if those projects that the firm assesses as “more likely” and “possible” go ahead, new apartment numbers will reach 14,000. 
Robert Papaleo, head of research at CKC, says up until 2015 there will be no shortage of apartments available in the market, but the question remains: “will there be enough owner-occupier demand”. 
“To date the product has been well received, but we now have a softer rental market and population growth is slowing,” he tells Property Observer. 
He says the big unknowns are whether Asian developers, which have accounted for about 20% of the market, will continue to target the Melbourne market. 
“If they can access funding offshore, there is no limitation to the number of apartments they could build,” he says. 
According to Papaleo, offshore banks are more willing to provide funding and are less aware of local conditions and carry out fewer checks.
The Manhattanisation of Melbourne began in 2010, when number of off-the-plan apartments reached 17,000 apartments, compared with a historical average to 2010 of about 6,300 apartments being marketed off the plan. 
The following year off-the-plan marketing of apartments fell somewhat, but there were still more than 12,500 apartments marketed to investors and owner-occupiers.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/ckcmay241.gif"><img src="/images/stories/ckcmay241thumb.gif"></a>
 
Source: Charter Keck Cramer 
This week construction of Lend Lease’s 807 Bourke Street tower will begin. The boutique development featuring 21 apartments and four townhouses in Melbourne’s Docklands will be Australia’s first timber high-rise building – and the tallest of its kind in the world. 
In Southbank construction has just commenced on the 652-apartment Prima Pearl project being developed by the PDG Corporation and Schiavello. The project is split into two sections, accessed via separate lobbies, with Pearl starting from level 10 to level 35 and Prima from level 36 to level 66. 
Lower levels start from $351,000 for a one-bedroom apartment and $638,000 for a two-bedroom unit, rising up to $10 million for a top-level penthouse. More than 600 of the apartments have been sold to date.
The Luxton, a six-storey development on Chatham Street in Prahran that will contain 53 one- and two-bedroom apartments to be developed and constructed by Watpac Property, is currently being marketed. One-bedroom apartments start at $405,000.
Further out from the city, the Boom Property Group (BPG) is marketing its Belise development in Caroline Springs with plans for 35 residencies. Building is expected to begin in July and be completed in mid-2013. A further 101 apartments are planned for BPG’s Cascada development also in Caroline Springs as well as 74 apartments in Doreen, to the city’s north.
 
 
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Record number of Melbourne apartments to be completed in 2013 followed by decline in 2014: Charter Keck Kramer

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Drift, the Cronulla apartment development by Sammut Developments, has won the HIA Australian apartment project of the year.
The judges described the apartments as having “house-like proportions, an extremely high level of workmanship and innovative and environmentally sustainable features”.
The Sammuts have 22 awards from both the Housing Industry Association awards and Master Builders Association, including their 2008 development, “Coast”, another prestige apartment development in Cronulla.
The Drift development was completed in early 2010 on Gerrale Street, having sold almost half off the plan by spring 2009. The marketing was undertaken by Beach and Bay Realty agent Kylie Emans and Natalie Vials.
The typical apartment was 300 square metres with triple garaging.
Brothers Allen and John Sammut, well known in the Sutherland and St George areas, had nominated Drift in the category of apartments over $1 million build cost per apartment. Its standard floor sales ranged between $2 million and $3.2 million.
It’s 11 apartments, with two on each level plus penthouse occupying the entire top floor.
<img src="/images/stories/breeze.jpg">
Sammut Developments’ next block, <a href="https://www.propertyobserver.com.au/https://www.theloop.com.au/toast/project/26763">Breeze, is a  nine-storey development </a> and will replace a 1970s apartment block and a commercial building at 19-21 Gerrale Street. 
It’s taking <a href="https://breezeapartments.com.au/">registrations of interest,</a> but there’s only a hint of its appearance amid the preliminary marketing.
 
 
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Sammut Developments’ Cronulla project Drift named apartment project of the year

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Things in Europe look worse that many predicted; the Queensland market has just come off a building boost and is waiting for the $7,000 stamp duty relief; NSW’s housing incentives will end on June 30, so investor attraction is there; China’s short- to medium-term growth prospects now look a bit dicey, and we are waiting with bated breath for a federal election. For mine, we need a Republican in the White House.
In short, our frugal mindset is now turning to concern, maybe even fear. The share market falls, plus changes to superannuation, make property investment potentially more attractive. But activity will be slow and all buyers will need thorough third-party endorsement.
Heck, things must be pretty bad – beer consumption is at a 65-year low and total alcohol consumption has fallen for the fourth straight year.
We need to further tighten outgoings, increase our service level, with a return to focus on the old-fashioned things like ringing clients, meeting face-to-face, breaking quotes/processes up into bite-sized and digestible pieces.
We will look for positives in all this gloom, but don’t push the envelope too far.
Our new direction will work a treat and fulfil the market’s need.
According to the latest statistics from the Australian Bureau, the money spent by Australians on renovating their homes rose by 2% over the last 12 months. This compares to an 8% fall in the amount spent on buying a new dwelling across the country.
Renovation activity is strongest in Tasmania, Victoria, Canberra and South Australia, but is down in the Queensland, New South Wales and the Northern Territory.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/matumay21.gif"><img src="/images/stories/matumay21thumb.gif"></a>
When asked “If you were renovating to sell, where would you spend your money in order to gain the best return?” our recent online opinion poll found that kitchens won hands down. Just over half (55%) of our respondents picked renovating a kitchen as the best way to secure the highest return from renovating a residential property.
Painting, with 26% of the vote, came in a clear second, followed by doing up the garden with 10% of the votes followed by renovating the bathrooms (9%).
When it comes to improving the garden, our research has found that a water-wise home will also attract a premium and may, in the future, be a major contributor to achieving a sale.
Another recent website poll by us looked at rain tanks in terms of whether they added value to a home. Two-thirds of our respondents thought they did.
We have started a weekly poll. It will be included as part of the framework in the new-look Matusik Missive, out in early June.
This week’s question about the best place for long-term capital growth can be <a href="https://www.surveymonkey.com/s/CAPITALGROWTH">viewed here</a>. Our polls will only take 10seconds of your time. Go on, give it a go! They will be a good straw test. Results will be reported on the website every Friday and via the new missive and through social media, such as Twitter and Facebook.
Chins up, heads down and try to smile…. laugh if you still are in good health.
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

Share market falls make property a more attractive investment

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4 Howe Court, Thomastown, VIC, 3074
<img src="/images/stories/howest.jpg">
This property is currently vacant but has been recently tentanted at $300 per week, which Ray White agent Joe Torzillo says is at the market rent for the property. It has three bedrooms and is close to shops, schools, transport and the Western Ring Road. The 26-year-old house is on 602 square metres. It was passed in at its weekend auction for $300,000.
Torzillo<a href="https://www.raywhite.com/vic/thomastown/771925/" target="_blank"> is marketing the property</a> with price hopes of $360,000, and if it sells for $360,000 and if rented at $300 per week, that would secure an investor a gross rental yield of 4.3%. This is about at the indicative gross rental yield for Thomastown 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. Council fees are about $1,000 per annum.
<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 $6,000 and over five years to be $13,000.
The median house price in Thomastown fell by 4.2% in the past year, according to RP Data.
For more about prices and yields in Thomastown, see the RP Data suburb page.
 
<hr class="system-pagebreak">
 
1 Harcourt Street, Blackburn North, VIC, 3130
<img src="/images/stories/harcourt1.jpg">
This property in need of renvation sold at its weekend auction for $450,000 to a buyer who intends to live in it. It had been rented at $310 per week, with a rent increase to $320 per week about to take effect. The tenants were on an expired lease but were keen to stay on. The block is 516 square metres and could be suitable for redevelopment, and Noel Jones agent Tim Penhalluriack says the new owners could possibly talk to a developer later down the track. It is within easy walking distance of North Blackburn Square Shopping Centre, Blackburn High and Old Orchard Primary. It has excellent access to the freeway.
Penhalluriack<a href="https://www.noeljones.com.au/property-details/3931451/" target="_blank"> </a>gave pre-auction price hopes of $420,000 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 $5,000.
The median house price in Blackburn North fell by 6.7% in the past year, according to RP Data.
For more about prices and yields in Blackburn North, see the RP Data suburb page.
 
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Investor form guide wrap: No takers for 4.3% yields in Thomastown

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Both major capital city auction clearance rates continued to secure sales within the narrow band of recent weeks.
But the more comprehensive the auction results, the lower the clearance rate.
In Melbourne the Real Estate Institute of Victoria reported a weekend clearance rate of 62% on initial results.
It was up on the downwardly revised 60% success rate of the prior weekend, which had been initially reported as 63%.
There were 529 auctions reported to the REIV, with 327 selling and 202 being passed in, 128 of those on a vendor’s bid.
Some 50 results remain unreported across Melbourne.
The <a href="https://www.propertyobserver.com.au/auctions/two-bidders-with-deep-pockets-vied-for-magnificent-fitzroy-north-home-in-auction-tipping-competition/2012052054760" target="_blank">highest sale was $4.2 million in Fitzroy North</a>.
Next week the REIV estimates 670 auctions will be conducted followed by 660 in a fortnight.
Sydney's clearance rate was 57.8% according to Australian Property Monitors.
The prior weekend's revised rate was given as 59.4%, which was also revised down on the initial 61.8% Saturday night clearance rate.
 
 
 
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