<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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Capital city auction clearance rates firmed, but agents suggest there’s no sign of rising prices.
Melbourne’s clearance rate was 61%, up from the previous 54% result, according to the Real Estate Institute of Victoria.
Sydney’s clearance rate was 58.9%, up from the previous 55.3% result, according to Australian Property Monitors.
There was a $770,000 median house price sale in Sydney and a $674,000 median in Melbourne.
For units it was a $610,000 median in Sydney and $494,000 in Melbourne.
The market could get a boost in May were the Reserve Bank of Australia to reduce the cash rate by a widely expected 50 basis points.
“The increase in the Melbourne clearance rate is a positive sign that confidence in the residential market may be starting to improve,” REIV Enzo Raimondo says.
“If the next interest rate movement is a reduction, as is speculated, and that is actually passed on by the retail banks to borrowers it may further increase activity over winter,” he anticipates.
Noel Jones agent Adrian Jones says his agency sold five out of its six auction listings in Melbourne’s eastern suburbs, but there was no sign of rising prices.
"It's not a market where prices are going up much," Jones told Fairfax Media.
Agents <a href="https://www.propertyobserver.com.au/residential/buying-property-in-early-winter-demands-a-change-of-tack-mal-james/2012041654302" target="_blank">including buyers' agent Mal James have commented on the lack of new stock on the market</a>, with more sales taking place off-market and out of the public eye.
 
 
 
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Melbourne and Sydney auction clearance rates firming, but no sign of rising prices

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In Melbourne this weekend the first-home buyer and investor market is proving to be weak but the home buyer market is very strong.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/byrneave.jpg">
The one-bedroom apartment at 10/17 Byrne Avenue, Elwood (pictured above), failed to gather any real traction and was passed in on a solitary bid. It sold soon after auction for $450,000.
Unit 11 in the same block sold earlier this year for $510,000, and although this apartment was slightly bigger, it does illustrate a market with patchy demand.
<img src="/images/stories/thompsonst1.jpg">
The property at 57 Thompson Street, Drummoyne (pictured above), failed to get any interest at all. The Drummoyne property was quoted at $1.75 million plusand was withdrawn from sale prior to the auction.
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Melbourne first-home buyer weak, affordability key in Sydney as auction tipping competition properties struggle to get across the line

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Property developer Pacific Investments has created shock and excitement with his ramped-up rethink of the ‘Rozelle Village’ proposal for the Balmain Leagues club site in Rozelle.
The revised proposal, which is double the size of the original plan that was rejected in 2010 because it was considered too big, has prompted outrage from local activists. The Leichhardt mayor Rochelle Porteous labelled it as offensive to the local community.
The redesign, which is on public display for 59 days, is a $300 million project with two residential towers of 25 levels and 32 levels, plus a six-floor commercial hub. The plan for Victoria Road will have more than 300 apartments across 30,000 square metres, retail space on 20,000 square metres plus 7,500 square metres of commercial space. Balmain Leagues Club will be on 3,500 square metres, and parking for 800 cars is included.
Click to enlarge
<a href="/images/stories/rozelle1.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rozelle1thumb.jpg"></a>
The original plan for a 17-level residential and commercial building was rejected in 2010 by the Joint Regional Planning Panel due to traffic congestion, its size and the effects it would have on local businesses. The Labor state government back then took control of the site, claiming that it was “significant” to the state. Now the NSW Department of Infrastructure and Planning’s Assessment Commission will decide the future of the site after the public display.
Rozelle Village managing director Ian Wright says the redesign was led by community consultation.
“For the nearly two years we had information sessions with interest groups and precinct meetings and found out that people want childcare, a building with green credentials and a supermarket, which we have included. They also wanted us to get rid of the bulky design, so we created a taller more slender design,” Wright says.
There will be public space with laneways for walkers, cyclists and pram pushing as well as an integrated public transport area.
“When the dust settles, I think people will really like it,” Wright says.
 
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Balmain Leagues club site could become megasized Rozelle Village under Pacific Investments plan

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It is often said that the world is in the midst of the biggest economic transition in modern times. In short, the West is in the process of ceding economic power to the East.
The old Group of Seven – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America – have a combined firepower of $US34 trillion. The new G7 – China, Hong Kong, India, Korea (south, of course), Malaysia, Singapore and Taiwan –  have a combined GDP worth $US12 trillion (see postscript), but the Asian G7 (AG7) economies have been growing by 16% per annum since the GFC, which is four times faster than the old G7.
Remember, the eighth wonder of the world is the power of compound growth.
The AG7 countries have a massive population base, but very low incomes when compared with the West. The average income per capita across the G7 is $45,000; whilst across the AG7 it is just $4,200. Yes, Asia’s income levels have doubled over the last five years, but they are dwarfed by Western standards.
This world shift is a massive bonus to Australia, most obviously via the demand for mining and agricultural resources. This, in turn, is creating wealth in Australia, although not as evenly spread as many of us would like. The demand for luxury goods is, once again, on the rise.
Did you know that Australians have the fifth (yes, fifth) highest income per capita is the world? In US dollars, every Australian (yes, on average) earned $67,000 last year. The four countries above us in income rankings were Luxembourg ($122,000), Qatar ($98,000), Norway ($97,000) and Switzerland ($85,000).
House prices
According to data house, RP Data, house prices rose by 0.2% during the March quarter. This might not sound like much, but at least the result wasn’t a negative.
Now, while the CommSec super-luxury car sales index is a small one, it does a pretty good job at forecasting the direction of house prices across the country. This index shows that 126 top-end vehicles sold across Australia during March, which is up 22% on this time last year.
Over the last twelve months 1,129 super-luxury vehicles were sold. The record high was during calendar 2007, when 1,606 top-end rides were traded.
There is a close relationship with super-luxury car sales and house prices. The theory is that confidence levels repair first at the top-end of the market and then flow through to other asset markets. The rebound of the CommSec super-luxury car index suggests the housing market may also be poised to recover.
Now, I’m no car buff – just a four-wheel drive kind of guy – but I think Craig James and the boys at CommBank are onto something there.
It is always good, every now and then, to think outside the square. They just need to work on what they call stuff: ”super-lux index” reads heaps better if you ask me.
Struggle Street
I am getting tired of hearing about how more and more Australians are doing it tough. Despite what you might believe, most of us are not on “Struggle Street”. We are confusing what we “want” with what we “need”. I am as guilty as the next person.
Unlike almost anywhere else, Australia has had 20 years of uninterrupted economic growth, and continues at an enviable rate. Real wages have risen by more than 30% since 2005. In addition, we are close to full employment and we can afford to build some of the largest houses in the world.
The super-luxury set hasn’t done this by themselves. Most Australians must be doing well. Even inflation is tamed, and so much so that “cost of living pressures” has replaced “inflation” in public debate.
Now, there are people who are really doing it tough – and something like half a million in Queensland sadly live below the poverty line – but there are 4.6 million people in the state.
Yes, we are more frugal these days, with the average household putting aside 10% of after-tax income for future needs. Companies, too, are retiring debt and building up cash reserves. A decade ago, Australian households on average were not saving. Today, our saving rate is similar to the traditionally thrifty Germans and double that of the US.
So, what does it really tell us when one-third of Australians believe passion is the most important reason for taking a new job, while just 17% nominate a good salary? And in another poll, two-thirds of Australians say they are happy. There is nothing wrong with both sets of replies, but they don’t suggest that we are on Struggle Street – especially when Aussie mums are increasingly hiring “personal assistants” to help them with their day-to-day routines.
We desperately need to change the public debate.  We should be rejecting the nebulous “cost-of-living pressure” spin and change the focus away from “my personal finances” and towards creating world-class infrastructure, smart business incentives and helping those few with genuine difficulties.
 
Postscript
Oh, by the way, a trillion dollars = $1,000,000,000,000.  That’s 12 zeroes to the left of the decimal point. A trillion is a million million dollars.
It is nearly too big to comprehend.
But if you laid five dollar notes end to end, you could make a chain that stretches from earth to the moon and back again 40 times before you ran out of five-buck bills! If we still had one-dollar notes, one trillion dollars would stretch almost from the earth to the sun. Similarly, it would take an F 22 Raptor (a fighter jet) flying at the speed of sound and reeling out a roll of dollar notes behind it 14 years before it reeled out one trillion dollars.
And the super-lux index includes new passenger car sales from 10 marquees – Aston Martin, Bentley, Ferrari, Lamborghini, Maserati, Maybach, Morgan, Porsche and Rolls Royce. Why Jeep isn’t in this set is beyond me!
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
 
 
 
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Most Australians are not on Struggle Street but confuse what they want with what they need: Michael Matusik

<html><body>Australian Property Monitors (APM) has released a list of results from 275 auctions in Sydney for the weekend of April 21. The clearance rate was 58.9%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 275 Sydney auction results showing a clearance rate of 58.9%

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Some 24 apartments had been sold during the initial three-week marketing of Vaughan Constructions’ recently unveiled Carlton project, Bravo by selling agents Oliver Hume.
Located between two parks, Lincoln Square and Argyle Square, the $65 million Pelham Street residential development has 118 apartments over 11 levels. Demolition of the current warehouse is scheduled for October with completion by 2014.
<img src="/images/stories/bravo1.jpg">
It’s been designed by the architecture and interior design practice Hayball, with architect Ann Lau saying she drew inspiration from the mid-20th-century Milan, when a new urban lifestyle was embraced and driven by multi-level apartment buildings near the city centre.
She sought the Modernist creed of utility with “raw materials and a sense of theatre”.
<img src="/images/stories/bravo4.jpg">
Hayball has sought from ground floor up to create a vertical village, including two-storey street-level apartments and a garden wall deep into the foyer creating a conservatory-like ambience.
“Upstairs corridors, vestibules, foyers and stairways are light-filled, spacious, internal ‘streets’ designed to encourage interaction between neighbours,” Lau says.
<img width="300" src="/images/stories/bravo2.jpg" style="float: left; margin: 5px;">
The street-level Soho-style offerings – five one-bedroom dual-key terraced apartments – are priced from $640,000. They have 76 square metres space plus 11 square metres of terracing.
The 108 two-bedroom apartments all come with flexible rooms capabilities. The rooms can be modified via full-height, extra-wide sliding timber panels adapting rooms to suit their functional requirements or aesthetic moods.
 
They are priced from $430,000 to $585,000 being sized from 53 to 61 square metres, plus terracing from eight to14 square metres.
There are five split-level penthouse apartments with private rooftop terraces located on levels 10 and 11, the first of which sold at its mid-week launch night.
The pricing is from $1.1 million to $1.25 million. The three-bedroom penthouse apartments range in size from 105 square metres to111 square metres plus terracing from 37 to 86 square metres.
There will be 54 car parks within the building via a car stacker system, being included with apartments from the sixth floor up.
Oliver Hume exective director Jamie Kay says the pricing of apartments without car spaces had been aimed at the investor market.
"Yields are stronger without car spaces in this village location," Kay envisages.
Secure storage will be available for 60 bicycles.
The developer and builder of Bravo is Vaughan Constructions, whose family business links in Victoria can be traced back to the 1850s, now being run by the fourth generation of the family.
<img src="/images/stories/bravo3.jpg">
It is one of Australia’s top 400 private companies, with an annual turnover of over $200 million with Vaughans currently building 19 sites across Melbourne, four in Sydney two in Perth and a project in South Australia.
Construction projects along the way included work on the Shrine of Remembrance in partnership with stonemasons Lodge Bros.
Vaughan Constructions Pty Ltd business was established in 1955, however the family business in Melbourne dates back to 1858, when Daniel Vaughan migrated from County Clare, Ireland and established a cartage business.
 
 
 
 
 
 
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Carlton parkside project Bravo sells 24 apartments in first three weeks

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7/70 Nepean Highway, Seaford, VIC, 3198
<img src="/images/stories/nepeanhwy.jpg">
Directly opposite the beach, this two-bedroom Seaford unit is currently let until August at $245 per week. The property comes with a courtyard for entertaining and carport, and it is within walking distance of Seaford village.
Barry Plant agent Peter Howard says it is in "liveable condition" but that it could use "a small bit of an update". He says that any renovation to the proprety would increase its rental potential. The median asking rent for Seaford units is $275 per week, according to RP Data.
Howard<a target="_blank" href="https://www.barryplant.com.au/property.cfm?propertyID=2010243&amp;realestate=70_Nepean_Highway_SEAFORD_VIC_3198&amp;menuItemID=41771"> is marketing the property</a><a href="https://maroubra.ljhooker.com.au/P9SFA0" target="_blank"> </a>with price hopes $220,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.8% at its current rent, substantially above the median indicative gross rental yield of 4.3% for Seaford 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.
<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 $3,000 and over five years to be $5,000.
The median unit price in Seaford rose by 1.5% in the past year, according to RP Data.
The property will be open for inspection Saturday, April 21 at 11am and will go to auction on Saturday, May 19 at 11am.
For more about prices and yields in Seaford, see the <a target="_blank" href="/news">RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
 
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49 Macquarie Street, Greenacre, NSW, 2190
<img src="/images/stories/macquariest.jpg">
This three-bedroom house is currently tenanted at $500 per week, which is market rent for the area, according to listing agent Bassam Barake of Elders Real Estate. The lease is expired but the tenant is keen to stay on. The 670-square-metre block includes a garage and garden shed.
Barake<a target="_blank" href="https://www.eldersrealestate.com.au/residential/buy/property-house-nsw-greenacre-492148"> is marketing the property</a> with price hopes in the "high $500,000"s. If it sells for $580,000 that would secure a gross rental yield of 4.5%, about at the indicative gross rental yield for Greenacre houses of 4.6%, 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. If it sells for $600,000, that would secure an investor a gross rental yield of 4.3%.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.
The median house price in Greenacre rose 3.2% in the past year, according to RP Data.
The property will go to auction Saturday, April 21 at 3pm.
For more about prices and yields in Greenacre see the RP Data suburb page.
 
 
 
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Friday form guide: Yields of up to 5.8% in Seaford

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The Goodman Group's hopes for quick approval for its inner-city Sydney residential high-rise development site have been further dashed, with the site failing to get through the first stage of state government fast-tracking approval initiative.
It had been among the 43 properties nominated by landowners seeking special consideration by the NSW Department of Planning.
Goodman failure to secure the amber light this week from the Planning Minister Brad Hazzard was ontop of earlier bad news when the department determined to limit the site to nine storeys, down from the 19 storeys granted by the former Labor state government.
The site is a nondescript Erskineville industrial estate set on Mitchell Road between Erskineville Oval and Sydney Park.
Lord mayor <personname ns1:w:st="on">Clover Moore</personname> told Property Observer the minister’s decision would allow the council to finalise appropriate planning controls for the Ashmore site. 

“Our planning controls, developed after thorough research and community consultation, limit Ashmore’s buildings to nine storeys or less, and deliver new streets, bike lanes, a small supermarket and 15,000 square metres of open space.

“I was extremely concerned about how the increased height and density approved by the previous government would impact the area, and the process by which the changes were made. 

“The City did the work to show how those changes would affect residents, including increased traffic, loss of regional views and significant overshadowing.” 

“We organised a public meeting on Ashmore and consequently received more than 500 public submissions complaining about these impacts.” 

“Ministers Hazzard and Berejiklian have also responded to community concerns about parking and traffic impacts by agreeing to increase public transport for the Ashmore precinct as development proceeds and residents move in," Moore says.
 <img src="/images/stories/metters.jpg">
The site was once headquarters of the Metters factory, producing ovens and boilers. Its best-known brand was the 1930s Kooka range of gas cooking appliances. The Metters factory site dates to 1906, when the firm, established on Rundle Street in Adelaide in 1891 by Frederick Metters, moved from its small factory on Alice Street at Newtown. Metters stayed there until the early 1970s, about the time it was taken over by Email.
It had an $81 million book value as at June, with the site's tenants including Toll Priority and Ausdoc.
The entire Ashmore precinct has been identified for urban renewal since 1998, with Sydney lord mayor Clover Moore recently suggesting the city’s second largest industrial area offered a rare opportunity to create a sustainable new neighbourhood.
"We want to create a neighbourhood which includes the right infrastructure and sustainable design to improve the lives of current and future residents," Moore says.
She says the City of Sydney has been working with the community on the future redevelopment plans.
Under the <a href="https://www.planning.nsw.gov.au/LinkClick.aspx?fileticket=G29rsFcvki8%3d&amp;tabid=561&amp;language=en-AU">latest state government initiative</a>, some 31 sites face further review on the basis of government-endorsed objectives by the review committee, chaired by the Director-General of the Department of Premier and Cabinet.
 
 
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Nothing oversized cooking at Goodman's Sydney Metters site, as Planning Minister agrees with council 

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Adelaide’s highest residential building – dubbed the “leaning tower of Adelaide” – has been approved, with construction on the 22-storey project to start next year.
Datong Australia will construct the $120 million building on the corner of Flinders and Pulteney streets. It will be 75 metres high.
<img src="/images/stories/leaning2.jpg">
The pricing of the 149 apartments, which will range from 50 to 85 square metres, has yet to be released, but last year the developer gave indications they were expected to range between $300,000 and $1.2 million. Its off-the-plan marketing will begin mid-year. The approval process was lengthy, finally securing permission this week the state government's Development Assessment Commission, as it exceeded the area's 40-metre height limit.
<img style="float: left; margin: 5px;" src="/images/stories/leaning1.jpg">
The Pruszinski Architects-designed building will have 60% of units on building corners.
Director Paul Pruszinski has said the design resembled a pile of papers being picked up and fanning out from pinching fingers. The highest residential tower in Adelaide is currently credited as the 1970-built King William Tower, which is 20 floors and 70 metres high, followed by the more recent 62-metre-high Conservatory on Hindmarsh, which was completed in 2009.
Datong Australia’s parent company, Datong China, is based in <a href="https://en.wikipedia.org/wiki/Yunnan">Yunnan province</a>, located in the far south west of the country.
It has been developing since the 1980s. Datong is a combination of two Chinese words or concepts. “Da” means large or leading, while “tong” is a metaphor for a smoothened road.
Datong also had a seven-storey Adelaide apartment building on Gouger Street approved this week.
“Datong intends to become a leading player in the development and rejuvenation of the Adelaide CBD,” Datong Australia chairman Jin Liang told the Australian Financial Review last year.
 
 
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‘Leaning tower of Adelaide’ secures approval and set to be city’s tallest residential building

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A 71-storey tower with 592 apartments and 566 car parking spaces at the site of the Queensbridge Hotel, Southbank has been approved by Victorian Planning Minister Matthew Guy.
It’s a $275 million Bates Smart-designed high-rise tower that at 276 metres high will be Melbourne's second-tallest building – squeezed between Eureka at 297 metres and Rialto at 254 metres.
<img src="/images/stories/queensbridge1.jpg">
"The tower will be a stunning addition to Melbourne's skyline, with an innovative design to reflect its location at a key gateway linking Southbank and the CBD,” Guy says.
"Southbank is a natural extension of the Melbourne CBD and is an area that is constantly evolving, with architecturally inspiring development forging ahead," he adds.
The development will consist of three platinum and silver glass cylinders.
Bates Smart also designed the nearby Freshwater Place for Australand.
It was early 2010 when furniture magnate and property developer Tony Schiavello bought the property, once home to nightclub QBH, which abutted other property he had owned for several years.
Click to enlarge
<a href="/images/stories/queensbridge2.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/queensbridge2thumb.jpg"></a>
The Schiavello Group is also building the 250-metre, 67-storey Prima Pearl Tower in the precinct.
The group, ranked as one of Australia’s top 200 private companies by BRW, was founded in 1966 by Tony and his younger brother Joe.
Locals claimed the proposal failed five key planning regulations.
 
 
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