<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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2/48 Willis Street, Kingsford, NSW, 2032
<img src="/images/stories/willisst.jpg">
The tenant of this two-bedroom unit is paying $520 per week and is on a lease until November this year. It sold under the hammer on Thursday, April 26 for $500,000, securing its investor buyer an indicative gross rental yield of 5.4%, substantially above the median indicative gross rental yield of 4.6% for Kingsford units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. 
The property is close to shops, restaurants, cafes, public transport, the University of NSW and beaches, and both bedrooms have built-in wardrobes.
LJ Hooker agent Anthony Rizzo gave pre-auction price hopes in the "early $500,000s". 
<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 $5,500 and over five years to be $16,500.
The median unit price in Kingsford rose by 3.5% in the past year, according to RP Data.
For more about prices and yields in Kingsford, see the RP Data suburb page.
 
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Investor form guide wrap: Gross rental yield of 5.4% in Kingsford

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With uneven buyer demand, top-end auction offerings are trailing off in both the Melbourne and Sydney auction markets.
But an Edwardian weatherboard in Mayston Street, Hawthorn, listed through Marshall White and Jellis Craig, was emblematic of strength in the inner-Melbourne family home market. It sold for $1,965,000 after three bidders competed. It had a $1.83 million reserve and was Melbourne’s top sale.
Buyers’ agent Mal James says most Melbourne family homes at this price level have gone well this year.
“And we do have a stock shortage in April.”
He says the price reinforced his perception of the market’s strength and that $1.9 million was the market level for this home as there were three real bidders.
“This surprised me – yes, it's good land size, but I did not expect it to be quite so strong.
“But, again, this is a family home and tighter-than-anticipated stock levels says for the right home the market is far from dead.
“Prices have definitely stabilised from last year's falls for the moment for these types of family homes – absolutely no question about that,” James <a href="https://marketnews.com.au/auction-reviews/19236/29-Mayston-Street-HAWTHORN_EAST/" target="_blank">advised in his auction review</a>.
"The $1 million-plus inner-Melbourne market has little option but to remain solid for the moment, with universal demand for market priced homes and new supply at a trickle in April.
“On top of this, new stock levels appear well down on initial selling agent expectations for May.”
The top sale in Sydney was a two-bedroom home at Northbridge, on the lower north shore, which was offered for the first time in 25 years.
The $2.25 million sale through Ray White Northbridge followed 10 registered bidders, with five competing strongly.
But none of the three offerings over $2 million sold in Melbourne, with no bidders on a $3.7 million-plus Danks Street, Middle Park, offering.
A Nelson Road South Melbourne offering – $2.4 million vendor bid – was among the 45% of Melbourne’s $1 million-plus listings that were passed in.
Brisbane auctioneer Jason Andrew said while buyer registrations continued to rise, the number prepared to act had been falling.
"While the inner ring of Brisbane is performing better than the outer suburbs, the air of optimism that was tangible earlier in the year has recently been lacking. 

“News of an interest rate cut would normally spark enthusiasm in the property market, but despite last week’s speculation around a possible series of cuts on the back of the latest inflation data, we have not seen any change in buyer sentiment at this point,” Andrew said.

“There’s still buyer interest but it’s predominantly coming from the sidelines – most are unprepared to actually get in the ring.”

“Consumers are jaded – they don’t believe the banks are going to pass on any official cut anyway.”

"Buyers in today’s environment are only interested in value,” Andrew advised.

There were 217 auctions listed in Sydney, down on 316 the previous weekend and 352 the year before. In Sydney, the clearance rate was reported as 48.8%, down on 58% on the prior weekend, according to Australian Property Monitors, which is owned by Fairfax Media.
There were several districts faring well.
The Canterbury Bankstown district was strong, with 73% of its 21 listings being sold.
Some 55% of the 50 upper north shore were sold.
And 61% of the 38 in the city and east were sold.
In Sydney’s west was weak at 44%. The south west had 18 results with six finding buyers.
The NSW central coast had 17 results, of which seven found buyers.
The south of Sydney had nine sales from its 26 reported offerings.
The Melbourne residential auction market has been providing very consistent outcomes, with the weekend no different given its 60% clearance rate.
It compares to 59% last weekend.
It represents an improvement on the 56% on the same weekend last year.
The five Melbourne weekends leading up to Easter returned clearance rates in a very tight band between 58% and 61%, which indicates very consistent demand despite the fluctuations on volume and price.
It has dipped to 55% on one weekend since.
There were 520 weekend auctions reported to the Real Estate Institute of Victoria, with 310 selling and 210 being passed in, 130 of those on a vendor’s bid.
Announcements on Tuesday of the state budget and interest rates have the potential to improve consumer confidence, the economy and the property market over the coming months, REIV boss Enzo Raimondo says.
Next weekend the REIV expects around 670 auctions followed by 650 in a fortnight in Melbourne.
APM has 380 and 360 scheduled auction listings over the next two weeks across Sydney.
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Inner-Melbourne $1 million-plus family home market shows strength: Mal James

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Western Australian property developer Finbar has recorded residential sales of just over $100 million in its completed $160 million East Perth apartment project, Fairlanes.
<img style="float: left; margin: 5px;" src="/images/stories/fairlanes1.jpg">
The 27-level tower has 128 apartments, and 120 deposits have been taken, including one for a $2.5 million penthouse.
The most expensive penthouse, which has views of Rottnest Island and a price tag of $2.65 million, is yet to sell.
Finishing touches are being made to the project, and residents will start moving into the tower in three weeks.
So far the average sale price in the completed Adelaide Terrace development is $850,000.
The completed Fairlanes was launched on by WA Premier Colin Barnett on Friday, April 27 and has 7,000 square metres of office space over five levels plus 600 square metres of ground-floor retail and food space, of which about 3,600 square metres has been leased. Finbar will move its own corporate headquarters into some of the office space and retain the balance as an investment. The commercial area is valued at $53 million.
“The completion of Fairlanes is very well timed to benefit from the squeeze in Perth city vacancy rates and unrelenting demand from companies associated with the resources sector,” says Finbar managing director Darren Pateman.
The developer believes the remaining space and apartments will sell and lease steadily without the need for incentives.
<img src="/images/stories/fairlanes3.jpg">
“This will also help underpin the value of the retained commercial investment and provide a boost to the company’s reoccurring investment income. Revenue from successful settlements at Fairlanes coupled with recent revenue received from settlements from our ‘18 On Plain’ 29-apartment project will support an anticipated moderate increase in forecast profit from last year’s record profit of $24.03 million,” he says.
<img src="/images/stories/fairlanes2.jpg">
Finbar has produced eight high-rise apartment towers in WA since 2009 and has a further 10 buildings under construction in WA.
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Finbar’s East Perth project Fairlanes complete and almost sold out

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Australian Property Monitors (APM) has released a list of results from 240 auctions in Sydney for the weekend of April 28. The clearance rate was 48.8%. <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.
 
 
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APM's 240 Sydney auction results showing a clearance rate of 48.8%

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Construction has begun on the last of 20 “black holes” in Sydney’s Chinatown that were formerly part of Paddy’s Market, as Ausbao’s The Quay development gets under way.
The 270-apartment complex launched on Saturday, and CBRE director Murray Wood told Property Observer nearly 200 sold on the day. He says he expects more to sell today.
<img src="/images/stories/thequay9.jpg">
Of these, about 55% sold to owner-occupiers and many to locals, according to the Australian Financial Review, which reports that any unsold stock will be marketed in Hong Kong after May 7.
The agents report that buyers queued up from seven in the morning, and buying activity was "frenzied" once doors opened at 7.30am. Buyers have a five-day cooling-off period to change their minds.
<img src="/images/stories/thequay8.jpg">
Chinese-backed Ausbao Group bought the site at 61-79 Quay Street in 2009 for $38.38 million, according to RP Data, and has plans for a two-tower, $280 million development.
<img src="/images/stories/thequay1.jpg">
After purchasing the site the developer held a design competition, and Sydney City Council granted WMK Architecture’s winning entry 10% “bonus” floorspace because of its environmental features and ability to re-activate public spaces on the long-dormant site.
<img src="/images/stories/thequay5.jpg">
The site was the poultry section of Paddy’s Market from 1912 until the 1950s (historical photo above), and was a retail warehouse for a time. The building burnt down in 1985, leaving just a portion of the façade, and in the late 1980s and early 1990s recession projects to revitalise the site were abandoned.
It has been a car park in recent years, and is bounded by Quay Street, Thomas Street and Thomas Lane.
<img src="/images/stories/thequay2.jpg">
The Quay development will incorporate the façade of the former warehouse and will include 255 car spaces, three retail levels and copious bike parking along with the residential component. 
Apartments will range in price between $390,000 and over $1.7 million, according to marketing agents CBRE, which notes that the prices are not finalised yet. One-bedroom apartments will range between 36 and 64 square metres internally. Most will come with car spaces and some will include studies.
<img src="/images/stories/thequay3.jpg">
The two-bedroom apartments in The Quay will range from 76 to 88 square metres and will all include at least one car space, and the three-bedroom offerings will range between 104 square metres and 131 square metres internally. All the three-bedroom units will come with two car spaces.
CBRE head of residential project David Milton says the car spaces may be unnecessary for residents’ day-to-day life.
“We’re sure businesspeople and working couples will like the convenience of living in a walk-to-work situation, but if they do need to travel there is light rail and buses virtually outside the front door and Central Railway just across the road,” he says.
“This is certainly one location in Sydney where you can do without a car.”
<img src="/images/stories/thequay4.jpg">
A terrace garden will connect the two towers, and it will also feature an indoor/outdoor gymnasium.
“We introduced elements previously only seen in prestigious hotels, which gives The Quay an unique architectural point of difference over other residential developments,” says WMK managing director Greg Barnett.
“The geometric glass, aluminum and louvre facades embrace strong vertical and horizontal planes, and the subtly different architectural expression of each tower reflects the diversity of the inner city Haymarket precinct. You could say the buildings have different personalities within a common language.”
The interiors have been designed by Smart Design Studio and are set to be both unconventional and striking.
““Our concept is ‘life beautifully packaged’, and we’ve taken inspiration from the world of luxury brands,” says Smart Design Studio founder William Smart. “We’ve foregone the overhead cupboards, white polyurethane joinery and blond timber accents in order to create a special place that is crafted and unique. This concept pursues the idea that things that surround us can create the mood of a space, just like a stage set builds the scene that transports us to another world.”
<img src="/images/stories/thequay6.jpg">
The buildings will include sustainable extras like plantation-grown timber, eco-friendly building services and a gas heated central hot water system.
The development will be directly opposite the University of Technology Sydney’s Haymarket campus, where <a target="_blank" href="/news">Australia’s first Frank Gehry-designed building is due to be built</a>.
<img src="/images/stories/thequay7.jpg">
Construction began on the development a few weeks ago and is due to be completed in mid-2014.
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The Quay development on long-dormant Sydney Chinatown site sells well in first weekend

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44 Timbs Street, Ulladulla, NSW, 2359
<img src="/images/stories/timbsst.jpg">
The tenants of this three-bedroom house are paying $270 per week and are on an expired lease. Raine &amp; Horne listing agent Lyn Chambers says this is at market rent, and the tenants are keen to stay on. The property is close to walking tracks and parks, and the 807-square-metre block includes a garage.
Chambers <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/209254" target="_blank">is marketing the property </a>with price hopes of $250,000 plus. If it sells for $250,000 that would secure an investor a gross rental yield of 5.6%, significantly above the indicative gross rental yield of 4.4%, 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 $6,000 and over five years to be $18,000.
The median house price in Ulladulla fell by 9.7% in the past year, according to RP Data.
The property will go to auction Saturday, April 28 at 11am.
For more about prices and yields in <a target="_blank" href="/news">Ulladulla, see the RP Data suburb page</a>.
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Friday form guide: Yields of up to 5.6% in Ulladulla

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The Melbourne suburb of Elsternwick has been the stand-out performer in the first quarter of 2012, managing an auction clearance rate of 84%, according to figures compiled by the Real Estate Institute of Victoria (REIV).
Elsternwick, nine kilometres south east of the Melbourne CBD, was one of just five suburbs to achieve an auction clearance rate of 80% or more, well above the overall Victorian average for the quarter of 62%.
The second and third best performing suburbs – Mitcham (82%) and Mill Park (81%) – are both outside the inner-city ring, indicating that quality of homes is driving demand at the moment, not a particular price point.
Mitcham lies 20 kilometres east of the CBD, and Mill Park is 23 kilometres north-east of the city.
The inner-city suburbs of Fitzroy and North Melbourne both managed auction clearance rates of 80% over the quarter.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="132">
 
</td>
<td valign="top" width="124">
No of auctions in March quarter
</td>
<td valign="top" width="102">
Sold under the hammer
</td>
<td valign="top" width="148">
Price range
</td>
<td valign="top" width="111">
Median house price*
</td>
</tr>
<tr>
<td valign="top" width="132">
Elsternwick
</td>
<td valign="top" width="124">
38
</td>
<td valign="top" width="102">
32
</td>
<td valign="top" width="148">
$254,000 - $2.1 million
</td>
<td valign="top" width="111">
$1.2 million
</td>
</tr>
<tr>
<td valign="top" width="132">
Mill Park
</td>
<td valign="top" width="124">
31
</td>
<td valign="top" width="102">
22
</td>
<td valign="top" width="148">
$305,000 - $676,000
</td>
<td valign="top" width="111">
$410,000
</td>
</tr>
<tr>
<td valign="top" width="132">
Mitcham
</td>
<td valign="top" width="124">
27
</td>
<td valign="top" width="102">
22
</td>
<td valign="top" width="148">
$369,000 - $805,000
</td>
<td valign="top" width="111">
$587,500
</td>
</tr>
<tr>
<td valign="top" width="132">
Fitzroy
</td>
<td valign="top" width="124">
20
</td>
<td valign="top" width="102">
16
</td>
<td valign="top" width="148">
$407,000 - $1.79 million
</td>
<td valign="top" width="111">
($896,500
</td>
</tr>
<tr>
<td valign="top" width="132">
North Melbourne
</td>
<td valign="top" width="124">
40
</td>
<td valign="top" width="102">
32
</td>
<td valign="top" width="148">
$320,000 - $1.32 million
</td>
<td valign="top" width="111">
$740,000
</td>
</tr>
</tbody></table>
Source: REIV, *RP Data
Among those properties to sell in Elsternwick over the three-month period was this <a target="_blank" href="https://www.realestate.com.au/property-unit-vic-elsternwick-107136867">two-bedroom over-55 retiree unit (pictured below) in a complex of 20 apartments on Orrong Road</a>, which sold for $495,000 through Celestine Eramo for ASL Real Estate Doncaster.
<img src="/images/stories/elst1.jpg" width="470">
Another property to sell was this <a target="_blank" href="https://www.realestate.com.au/property-house-vic-elsternwick-109112646">three-bedroom house on Gardenvale Road</a> (pictured below), which sold for $940,000 through Biggin &amp; Scott Elsternwick.
<img src="/images/stories/elst2.jpg" width="470">
Elsternwick is situated close to the Balaclava and Glenhuntly Road shopping strips and Malvern Central shopping centre and has a median house price of $1.2 million, according to RP Data.
Knight Frank sales director Andrew Swinson recently described Elsternwick as “traditionally a very well-performing suburb with positive growth statistics and impressive potential for capital growth”.
The REIV’s Robert Larocca says a review of the suburbs with the highest clearance rates in the first quarter tells you a lot about the local market right now.
“Firstly, it shows that some places are defying the overall trend.
“Secondly, the lack of a clear defining common theme shows that it is the location and quality of the homes for sale that is driving demand, rather than pressure at one particular price point,” he says.
Larocca says buyers and sellers need to fully understand the local market they are buying and selling in “lest they turn up to an auction believing only six in 10 are selling under the hammer when, in fact, eight in 10 are – as in Mill Park, for instance”.
The March quarter clearance rate of 62% was up on the December quarter clearance rate of 55%, but lower than the 67% clearance rate in the March quarter.
The volume of auctions held was 17% lower than at this time last year, 9% cent lower than at this time in 2010 and 74% higher than at this time in 2009.
According to the REIV, auction and private sales achieved similar outcomes for vendors over the quarter.
The median price of a house sold at auction increasing by 2.3% from $700,000 in the December quarter to $716,500 in the March quarter.
For a house sold by private sale – as about three out of four are – the median price increased by 1.1% from $465,000 to $470,000.
 
 
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lschlesinger-FZcF9M3vE6

Buyers sold on Elsternwick, with highest auction clearance rate in Melbourne in March quarter: REIV

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Over the past few weeks <a href="https://www.propertyobserver.com.au/developments/pre-sales-essential-to-selling-modern-developments/2012040354129" target="_blank">we have examined</a> how a <a href="https://www.propertyobserver.com.au/developments/before-starting-a-registrations-of-interest-campaign-outline-clear-goals-peter-chittenden/2012041654305" target="_blank">well-managed registrations-of-interest  (ROI) campaign</a> structure <a href="https://www.propertyobserver.com.au/developments/the-ways-in-which-to-use-pre-sales-and-registrations-of-interest/2012032654012" target="_blank">is required to ensure that a quality plan</a> is seen as the imperative of all activity in this popular area of project marketing and that tangible sales result.
We have established that from the first stages of planning every step is important, including key elements of how information is collected and managed and how consumers are engaged and motivated so that they see real value from their involvement.
Well-managed campaigns with a solid and creative structure can and have produced very good results. But there have also been some very poor examples where a great deal of time and effort has been wasted. The good examples will help produce solid sales and thus give any early bounce to a project.
Poor examples not only fail to leverage the ROI campaign but can go further and have a negative long-term impact on a project.
ROI campaigns also need to reflect the current market conditions; while these campaigns always need to have a well-managed structure they also need clever creative thinking. That in turn reflects market conditions and brands each project in the most appealing way.
The creative ideas and how the campaign is communicated needs to match the prevailing market conditions. An idea that worked during a strong market will not work or will be less successful when markets are not buoyant. Or likewise when a market is filled with contended tribes of purchaser that are of a particular demographic, the creative again needs to speak to this audience, not what the personal preferences are of the project team.
While some ROI campaigns can be achieved with less expenditure than a traditional marketing release, the expenditure does have to be balanced with the anticipated results.
The central aim needs to ensure that people who do register will ultimately be interested and able to move to a paid expressions-of-interest and perform on the launch day to an exchanged contact.
It can also be a mistake to peak interest among buyers too far in advance of the project’s release. While some potential buyers will always be happy to have a long lead time, others will not. This will mainly be a fact determined by the different target groups involved with each stage of a campaign.
Some potential buyers may be sourced from already well qualified existing client lists including repeat buyers, experienced investors including investment networks, friends and associates of a project and buyers on an active ‘early-bird’ list. For some projects these groups would also include off-shore markets, which will require very experienced engagement. [Because this is a very unique area of property marketing, I will look at off-shore markets in a future series of posts.]
The common thread being that these groups are not usually entry-level buyers, but are targets that know the market or the project and want to be involved.
The structure of the ROI campaign can be such that consumers have to take several steps in the registration process. Simply collecting for example a large on-line database might be a waste of time if anyone who registers is not substantially pre-qualified at some stage in the campaign.
Almost all data ages and becomes stale very quickly.
Areas of high demand
But with well-managed data one method is to contact people on existing databases and ask them to register their interest in a new project should they be ready to move to their next purchase. The ideal way to make a final qualification of a ROI enquiry is to require that a refundable deposit is made to secure their place in the queue.
Some ROI campaigns in a strong market or where the appeal of a property is highly competitive can and do require potential buyers to pay a (refundable) registration ‘fee’ of $5000, $10,000 or $15,000 to secure their interest to preview and purchase a property at launch.
Such registration campaigns can be very successful as the act to pre-qualify buyers and create a sense of urgency, and when conditions are suitable and demand is strong they work in areas even when more general conditions are less than robust. It is all a matter of understanding the local conditions, having the right product mix and solid planning.
However such ‘deposits’ are not always possible or even advisable and if mistimed or used with inadequate market knowledge then the circumstances can backfire and damage a project’s possible success.
Despite all of the industries experience and the detailed insights discussed over recent weeks, ROI campaigns are not universally suitable for all projects. I can’t stress enough, if not done correctly, they can cause more harm than good. Despite a trend that has seen the idea become very popular – do not be fooled! ROI and launch campaigns are not as easy as they appear – they require years of experience.
It is easy to understand this popularity as a successful campaign can save money and as already outlined help secure sales that underpin a project and influence prices in a very positive way.
There are alternatives to the ROI campaigns that can be considered where the activity is driven by quality databases from assigned groups such as local agents, investor groups or buyers agents.
In this instance there is typically a campaign that is undertaken with the support of specific media that revels just enough about a project to secure people’s interest. There is a need to be ‘in-market’ even when selling through databases to provide confidence and assurance the project is genuine. If well managed these campaigns, while involving a reasonable amount of media investment and exposure, can be very successful.
This adaptation however requires the ability to be able to offer the project as ‘market-ready’ so that prices are set with contracts able to be exchanged so that potential buyers only act out of genuine interest rather than joining a database in anticipation of a future launch. This format of pre-release campaigns usually only operates on very short time frame. The key aim is to secure demand in a particular target group.
Whisper or off-market campaigns
While ROI campaigns and limited release campaigns do involve a varied degree of public exposure of the project, there is another option to act on prior to being ‘on-market’.
A whisper campaign that does not involve any formal marketing because it is a strategy based upon existing market contacts and reliable blue chip contacts.  It is a strategy based upon, literally a whisper, which could be these days one based around social media between already well-known and reliable parties associated with a potential project about to be taken to market.
Networking
‘It is not what you know but who you know' – a phrase that has been used endlessly to describe the value of networking.
In marketing terms networking is very powerful and in some very practical ways plays an important role in the project marketing environment. While the high-end of the market can be a very fertile ground for networking it has many varied and surprising applications at almost every level of the market and will in future be a more fertile ground thanks to social media.
The notion is tied very much into the power of word-of-mouth or personal recommendation… ‘a word in the right ear can move mountains’. It has been suggested if you could go and talk personally to every potential consumer face to face you would have the ideal marketing tool.
In its modern form networking via social media and eMarketing is an everyday reality as both rely upon an idea being spread in a targeted way without the direct use of traditional media or at least within limitations as traditional media is still very relevant.
So powerful is networking the idea has kept pace with and even lead some aspects of today’s communications. Every time a consumer gives their email address to a supplier or any organization to receive online details of this or that product or service they are in fact agreeing to become part of a network.
The reason for the willingness is the expectation of getting in ahead of the wider community on some news, offer or deal that may be offered.
So networking can cover a wide spectrum of applications from a direct email, a tweet or telephone call to a well-placed friend or associate about an opportunity or through the use of a blog on a social network site to spread some good news.
However, before taking on any of the alternative ROI strategies we have discussed, one overriding fact remains the chief ingredient in any campaign: the need to pre-qualify any person who expresses interest in a project so that when the property is released and on the market the required sales result is secured.
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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pchittenden-eLqUUC8TWW

The structure of a registrations-of-interest campaign will vary depending on the project

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A number of developer and builder incentives aimed at encouraging the take-up of new houses and apartments will soon come to an end around the country.

The schemes range from grant top-ups to gift vouchers to cashback offers.
<img src="/images/stories/convesso4.jpg">
First to go will be Lend Lease’s luxury furniture and interior design offer for its <a target="_blank" href="https://www.convesso-convaco.com.au/">Convesso Concavo apartment project</a> (pictured above and below) in Melbourne’s Docklands, which expires on April 30.
<img src="/images/stories/convessooffer.jpg"> 
The developer is offering gift vouchers ranging in price from $15,000 to $60,000 depending on the type of apartment. Luxury harbourside apartments range in price from $465,000 to $3.15 million.
Up until May 13, Stockland is offering to <a target="_blank" href="https://stacksmore.stockland.com.au/">triple the $13,000 Victorian first-home bonus to $39,000 for first-home buyers in five of its residential communities</a>, taking the total incentive when the first-home owners’ grant is included to $46,000. The residential communities that qualify are Highlands, Mernda Villages, Eucalypt, Selandra Rise and Arbourlea.
Other incentives being offered by developers and builders include:
<ul>
<li>In WA <a target="_blank" href="https://happyhousewarming.com.au/">home builders Bluprint Homes and nuhomes in conjunction with St George Bank</a> are offering a $2,000 cashback for the first 25 home buyers who sign up to build a new home by June 23 with either building brands and take out a home loan with St George Bank. 
</li>
<li>Also in WA, the <a target="_blank" href="https://www.wahousingcentre.com.au/returnofthe21kgrant">WA Housing Centre is offering to triple the first-home owners’ grant</a> to $21,000 on some of its Perth residential communities 
</li>
<li>Also in WA <a target="_blank" href="https://www.dalealcock.com.au/32kbonus/">Dale Alcock homes is offering for a limited time a $32,000 bonus package</a> including ducted air-conditioning, wall painting and floor coverings 
</li>
<li>In Queensland, <a target="_blank" href="https://www.coralhomes.com.au/default.asp">Coral Homes</a> is offering a $22,000 discount on two-storey Eclipse homes and $15,000 off single-storey Eclipse homes as well as $81,400 worth of luxury inclusions as standard items.</li>
</ul>
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Time running out for incentives from builders and developers, with Convesso Concavo offer the next to expire

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The Western Australian economy is performing so well it’s leaving the rest of the country behind, according to the latest CommSec report into the states’ economies, although it warns the Australian Capital Territory is at the highest risk from spending cuts in next week’s budget.
The quarterly report into the country’s state-based economies reveals some disturbing trends – the Queensland economy in particular is suffering due to a lack of support for housing, while Tasmania’s economy has experienced the “greatest slippage”.
However, the rest of the country is still performing well, with each state shining in different metrics.
The Western Australian economy is performing so well, CommSec economist Craig James says the country needs to be evaluated in two separate metrics – with Western Australia, and without.
“In the last two quarterly reports, we judged that Australia’s multi-speed economy could more accurately be described as a three-speed economy,” James says.
“But in the latest report the best way to describe the situation is Western Australia first and daylight second.”
Western Australia leads the way on economic growth, construction work, unemployment, retail trade and equipment investment – and second when it comes to population growth.
Dwelling starts and housing finance were the only black spots on WA’s record, out of the eight metrics used to judge each economy. ACT and Victoria were in the “second tier” of economies, with both out-performing housing indicators and Victoria positive on retail spending.
Queensland, New South Wales and South Australia are all in the next “tier”. Queensland is benefiting from restructuring work, while New South Wales is growing strong on population growth.
Tasmania has suffered the worst, lacking momentum in “key areas”, with the state now alongside the Northern Territory, which has strong retail spending but low population growth.
However, there are bright spots. Both Victoria and the ACT are winning when it comes to housing indicators, and Victoria’s retail spending remains high, and Queensland is still enjoying a significant amount of rebuilding work.
<h3>Western Australia</h3>
The state is leading the rest of the country in most metrics. Economic output was just over 32% higher than the state’s decade average, while it’s also taken the top ranking for retail trade with spending in the December quarter almost 21% above decade average levels.
It also remains “well above” other states and territories with equipment investment, and a strong jobless rate of 4%. Construction work is 82% above decade averages, although it’s second for population growth, at 2.63%.
It’s also equal third for housing finance, alongside New South Wales. Dwelling starts were also 15.2% below decade averages.
<h3>Victoria</h3>
Victoria’s jobless rate may be increasing, but its retail trade is 14% above decade averages. And
equipment investment was down by 3.2%.
However, construction activity is increasing, with the state in the second place for housing finance, and dwelling starts 14% above decade averages.
Victoria’s set to hold its spot in the top three despite that slowdown in the housing market, although CommSec says greater investment from public and private sectors could help it maintain momentum.
<h3>ACT</h3>
Economic growth in the ACT is up 18.2%, although retail trade is poor – below all other states. The jobless rate is 3.6%, although that’s actually 5% higher than the normal or decade-average level.
Housing finance commitments are actually strong, however, with the number 6.2% above the decade average, with commitments also 3.3% higher than a year ago. Dwelling starts are also “head and shoulders” above the rest of the states, based on strong population growth – one key area of hope.
<h3>New South Wales</h3>
New South Wales joins the ACT with the weakest retail trade in the country, and economic growth is also poor.
However, there are bright spots. The jobless rate of 5% is below the decade average of 5.3%, and housing finance is also equal third with Western Australia.
<h3>Queensland</h3>
Despite some of Queensland’s economic troubles the state is actually performing extremely well, with economic growth at the fastest rate in the country at 9.8% – even ahead of Western Australia.
Retail trade is also strong, although it comes under Victoria’s level of 14% above decade averages. Equipment investment is up 40%, the population growth is the highest recorded over the past year – although housing finance is down 22%.
Dwelling starts were also down 34.9% below decade averages, and starts in the December quarter were down 12.1% than a year ago – CommSec notes housing is the state’s biggest weakness.
<h3>South Australia</h3>
Retail trade remains strong, alongside Queensland after Victoria at the top, and the jobless rate is actually quite strong at 5.1% – 6.6% below the longer-term average of 5.45%.
However, South Australia remains one of two states where real wages were negative – along with the ACT. Retail spending is up, but only by 0.3%.
The state seems to be performing well with no major negative or positive factors, CommSec says, although that’s due to the relatively low unemployment.
<h3>Northern Territory</h3>
Economic growth has remained weakest in the Northern Territory, alongside New South Wales and Tasmania.
However, retail trade has remained high, in second place, due to low unemployment with just a 4% jobless rate. That’s 9.9% below the long-term average.
And while construction work is above the long-term average, it’s only up by just 0.6%. Engineering work – a driving force for several economies including Queensland and Western Australia – is down by 4.6%. However, CommSec expects that to improve.
Construction work hit a two-year high in the December quarter, and is actually up 43% from last year, which is the fastest rate in the country.
CommSec notes it has the potential to climb its way back up, with the $34 billion LNG Inpex project to have “enormous multiplier effects” on the economy.
<h3>Tasmania</h3>
The island state is performing poorly. Economic growth is the weakest, at negative 1.6%, while retail trade is also at the slowest in the country.
Equipment growth is strong, up 45%, although the jobless rate has risen from 5.1% to 7.2% in the space of just seven months – that’s 18% above the decade-average.
Construction spending is down 12.2% from last year, and population growth is up just 0.55%.
However, there is some good news, with dwelling starts and equipment investment suggesting higher growth in the pipeline.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
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